|
Report No. : |
346210 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MATRRIX ADVANCE STEEL (M) SDN. BHD. |
|
|
|
|
Registered Office : |
Lot 24009, Batu 5 1/2, Jalan Seri Segambut, Off Jalan Kebun, 45460 Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.01.2005 |
|
|
|
|
Com. Reg. No.: |
679497-W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in metal recycling. |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MALAYSIA - ECONOMIC
OVERVIEW
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, biotechnology, and services. NAJIB's Economic Transformation Program (ETP) is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.
The NAJIB administration is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Nevertheless, exports - particularly of electronics, oil and gas, palm oil and rubber - remain a significant driver of the economy. Gross exports of goods and services constitute more than 80% of GDP. The oil and gas sector supplied about 29% of government revenue in 2014. As an oil and gas exporter, Malaysia has previously profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with sustained budget deficits, has forced Kuala Lumpur to begin to address fiscal shortfalls, through initial reductions in energy and sugar subsidies and the announcement of the 2015 implementation of a 6% goods and services tax. Falling global oil prices in the second half of 2014 have strained government finances, shrunk Malaysia’s current account surplus and put downward pressure on the ringgit. The government is trying to lessen its dependence on state oil producer Petronas.
Bank Negara Malaysia (the central bank) maintains healthy foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. In order to attract increased investment, NAJIB raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program (BEEP), policies that favor and advance the economic condition of ethnic Malays.
Malaysia is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
679497-W |
||||
|
COMPANY NAME |
: |
MATRRIX ADVANCE STEEL (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
26/01/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 24009, BATU 5 1/2, JALAN SERI SEGAMBUT, OFF JALAN KEBUN,
45460 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 24009, BATU 5 1/2, JALAN SERI GAMBUT, OFF JALAN KEBUN, 42450
SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51627696 |
||||
|
FAX.NO. |
: |
03-51628696 |
||||
|
WEB SITE |
: |
WWW.MATRRIX.COM.MY |
||||
|
CONTACT PERSON |
: |
KARTHIGEAN A/L KAMESWARAN ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46698 |
||||
|
PRINCIPAL ACTIVITY |
: |
METAL RECYCLING |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,300,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 25,737,159 [2012] |
||||
|
NET WORTH |
: |
MYR 1,745,563 [2012] |
||||
|
STAFF STRENGTH |
: |
30 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited
company, the Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts, sue
or be sued by other companies. The liabilities of the shareholders are to the
extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act, 1965 and the company must file its annual
returns, together with its financial statements with the Registrar of
Companies.
The Subject is principally engaged in the (as a / as an) metal
recycling.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/01/2014 |
MYR 5,000,000.00 |
MYR 2,300,000.00 |
|
18/12/2013 |
MYR 5,000,000.00 |
MYR 950,000.00 |
|
15/02/2013 |
MYR 1,000,000.00 |
MYR 950,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. C.SARASVATHI A/P N.CHELLIAH + |
2, JALAN SUAKASIH 3/1B, BANDAR TUN HUSSEIN ONN, 43200 BALAKONG,
SELANGOR, MALAYSIA. |
760109-07-5324 A3200398 |
1,150,000.00 |
50.00 |
|
MR. KARTHIGEAN A/L KAMESWARAN + |
2, JALAN SUAKASIH 3/1B, BANDAR TUN HUSSEIN ONN, 43200 BALAKONG,
SELANGOR, MALAYSIA. |
750118-71-5179 A2986176 |
1,150,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
2,300,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
CHANDRAN A/L RAMAKRISHNAN |
MALAYSIA |
750323-07-5617 |
N/A |
N/A |
|
VEERAPPAN A/L KANAPATHI |
MALAYSIA |
760519-07-5781 |
N/A |
N/A |
DIRECTOR 1
|
Name Of Subject |
: |
MS. C.SARASVATHI A/P N.CHELLIAH |
|
Address |
: |
2, JALAN SUAKASIH 3/1B, BANDAR TUN HUSSEIN ONN, 43200 BALAKONG,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A3200398 |
|
New IC No |
: |
760109-07-5324 |
|
Date of Birth |
: |
09/01/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/09/2007 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. KARTHIGEAN A/L KAMESWARAN |
|
Address |
: |
2, JALAN SUAKASIH 3/1B, BANDAR TUN HUSSEIN ONN, 43200 BALAKONG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A2986176 |
|
New IC No |
: |
750118-71-5179 |
|
Date of Birth |
: |
18/01/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/09/2007 |
|
1) |
Name of Subject |
: |
KARTHIGEAN A/L KAMESWARAN |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ISWARA & COMPANY |
|
Auditor' Address |
: |
43-1, JALAN THAMBAPILLAI, BRICKFIELDS, 50470 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
1) |
Company Secretary |
: |
MS. M.VIKNESWARI A/P S.MUTHURAJA |
|
IC / PP No |
: |
A2888764 |
|
|
New IC No |
: |
741103-14-5156 |
|
|
Address |
: |
70, JALAN 6/5, KAMPUNG TASEK TAMBAHAN, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. CHEE KIM FATT @ CHOI KAM FATT |
|
IC / PP No |
: |
4027888 |
|
|
New IC No |
: |
340916-08-5157 |
|
|
Address |
: |
18, JALAN TAMAN IBUKOTA 5, TAMAN IBUKOTA, GOMBAK, 58000 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
2) |
Name |
: |
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
15/03/2013 |
N/A |
RHB BANK BERHAD |
- |
Unsatisfied |
|
2 |
23/12/2013 |
N/A |
RHB BANK BERHAD |
- |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the Subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
|
Local |
: |
YES |
Percentage |
: |
20% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
80% |
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Services |
: |
METAL RECYCLING |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
30 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) metal recycling.
The Subject is the largest scrap metal collector & processor in
Klang.
The Subject provides a full range of scrap management services and advanced
scrap handling equipment for all types of industrial.
One of its main aim is to save the earth by concentrating in recycling
management services.
The Subject is the specialist in customizing recycling programs to suit the
requirement and need of our clients.
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-51627696 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 24009, BATU 51/2, JALAN SERI GAMBUT OFF JALAN KEBUN, 42450
SHAH ALAM |
|
Current Address |
: |
LOT 24009, BATU 5 1/2, JALAN SERI GAMBUT, OFF JALAN KEBUN, 42450
SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
|
The Subject's latest financial accounts are up to 2012 which is out
dated in our opinion. Therefore, our comment on the Subject financial
performance is restricted thereto. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
|
Major Economic Indicators: |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Population ( Million) |
28.7 |
29.3 |
29.8 |
30.3 |
30.5 |
|
Gross Domestic Products ( % ) |
5.1 |
5.6 |
5.3 |
6.0 |
6.0 |
|
Domestic Demand ( % ) |
8.2 |
9.4 |
5.6 |
6.4 |
6.2 |
|
Private Expenditure ( % ) |
8.2 |
8.0 |
8.6 |
7.9 |
6.9 |
|
Consumption ( % ) |
7.1 |
1.0 |
5.7 |
6.5 |
5.6 |
|
Investment ( % ) |
12.2 |
11.7 |
13.3 |
12.0 |
10.7 |
|
Public Expenditure ( % ) |
8.4 |
13.3 |
4.4 |
2.3 |
4.2 |
|
Consumption ( % ) |
16.1 |
11.3 |
(1.2) |
2.1 |
3.8 |
|
Investment ( % ) |
(0.3) |
15.9 |
4.2 |
2.6 |
4.7 |
|
Balance of Trade ( MYR Million ) |
116,058 |
106,300 |
71,298 |
52,314 |
- |
|
Government Finance ( MYR Million ) |
(45,511) |
(42,297) |
(39,993) |
(37,291) |
- |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(5.4) |
(4.5) |
(4.0) |
(3.5) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
3.1 |
1.6 |
2.5 |
3.2 |
4.0 |
|
Unemployment Rate |
3.3 |
3.2 |
3.0 |
2.9 |
3.0 |
|
Net International Reserves ( MYR Billion ) |
415 |
427 |
- |
417 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.50 |
2.20 |
- |
4.00 |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
14.80 |
14.70 |
- |
- |
- |
|
Average Base Lending Rate ( % ) |
6.60 |
6.53 |
6.53 |
6.85 |
- |
|
Business Loans Disbursed( % ) |
15.3 |
32.2 |
- |
56.0 |
- |
|
Foreign Investment ( MYR Million ) |
23,546.1 |
26,230.4 |
38,238.0 |
43,486.6 |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
45,455 |
45,441 |
46,321 |
49,144 |
- |
|
Registration of New Companies ( % ) |
3.0 |
(0.0) |
1.9 |
6.1 |
- |
|
Liquidation of Companies ( No. ) |
132,485 |
17,092 |
26,430 |
21,753 |
- |
|
Liquidation of Companies ( % ) |
417.8 |
(87.1) |
54.6 |
(17.7) |
- |
|
Registration of New Business ( No. ) |
284,598 |
324,761 |
329,895 |
332,723 |
- |
|
Registration of New Business ( % ) |
5.0 |
14.0 |
2.0 |
1.0 |
- |
|
Business Dissolved ( No. ) |
20,121 |
20,380 |
18,161 |
21,436 |
- |
|
Business Dissolved ( % ) |
1.9 |
1.3 |
(10.9) |
18.0 |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
535.1 |
552.2 |
576.7 |
598.4 |
610.3 |
|
Cellular Phone Subscribers ( Million ) |
35.3 |
38.5 |
43.0 |
43.8 |
- |
|
Tourist Arrival ( Million Persons ) |
24.7 |
25.0 |
25.7 |
28.0 |
- |
|
Hotel Occupancy Rate ( % ) |
60.6 |
62.4 |
62.6 |
63.2 |
- |
|
Credit Cards Spending ( % ) |
15.6 |
12.6 |
- |
13.5 |
- |
|
Bad Cheque Offenders (No.) |
32,627 |
26,982 |
28,876 |
- |
- |
|
Individual Bankruptcy ( No.) |
19,167 |
19,575 |
21,984 |
- |
- |
|
Individual Bankruptcy ( % ) |
5.8 |
2.1 |
12.3 |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2011 |
2012 |
2013 |
2014* |
2015** |
|
Agriculture |
5.8 |
1.0 |
2.1 |
3.8 |
3.1 |
|
Palm Oil |
10.8 |
(0.3) |
2.6 |
6.7 |
- |
|
Rubber |
6.1 |
(7.9) |
(10.1) |
(10.4) |
- |
|
Forestry & Logging |
(7.6) |
(4.5) |
(7.8) |
(4.2) |
- |
|
Fishing |
2.1 |
4.3 |
1.6 |
2.7 |
- |
|
Other Agriculture |
7.1 |
6.4 |
8.2 |
6.2 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
634.1 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
3.2 |
- |
- |
- |
- |
|
Mining |
(5.4) |
1.4 |
0.9 |
(0.8) |
2.8 |
|
Oil & Gas |
(1.7) |
- |
- |
3.0 |
- |
|
Other Mining |
- |
- |
- |
46.6 |
- |
|
Industry Non-performing Loans ( MYR Million ) |
46.5 |
- |
- |
- |
- |
|
% of Industry Non-performing Loans |
0.1 |
- |
- |
- |
- |
|
Manufacturing # |
4.7 |
4.8 |
3.4 |
6.4 |
5.5 |
|
Exported-oriented Industries |
4.1 |
6.5 |
3.3 |
5.6 |
- |
|
Electrical & Electronics |
(4.0) |
12.7 |
6.9 |
13.3 |
- |
|
Rubber Products |
20.7 |
3.0 |
11.7 |
(0.3) |
- |
|
Wood Products |
(5.1) |
8.7 |
(2.7) |
5.1 |
- |
|
Textiles & Apparel |
13.2 |
(7.1) |
(2.6) |
11.5 |
- |
|
Domestic-oriented Industries |
10.7 |
1.7 |
6.8 |
9.4 |
- |
|
Food, Beverages & Tobacco |
4.80 |
2.70 |
3.60 |
6.13 |
6.13 |
|
Chemical & Chemical Products |
10.0 |
10.8 |
5.6 |
1.4 |
- |
|
Plastic Products |
3.8 |
- |
- |
2.7 |
- |
|
Iron & Steel |
2.2 |
(6.6) |
5.0 |
0.1 |
- |
|
Fabricated Metal Products |
21.8 |
13.8 |
9.9 |
2.9 |
- |
|
Non-metallic Mineral |
12.1 |
2.9 |
(2.0) |
5.4 |
- |
|
Transport Equipment |
12.0 |
3.4 |
13.8 |
22.9 |
- |
|
Paper & Paper Products |
9.5 |
3.1 |
1.8 |
4.7 |
- |
|
Crude Oil Refineries |
9.3 |
- |
- |
13.0 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,537.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
25.7 |
- |
- |
- |
- |
|
Construction |
4.7 |
18.6 |
10.9 |
12.7 |
10.7 |
|
Industry Non-Performing Loans ( MYR Million ) |
3,856.9 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
10.2 |
- |
- |
- |
- |
|
Services |
7.1 |
6.4 |
5.9 |
5.9 |
5.6 |
|
Electric, Gas & Water |
3.5 |
4.4 |
4.2 |
3.6 |
3.9 |
|
Transport, Storage & Communication |
6.50 |
7.10 |
7.30 |
7.50 |
7.15 |
|
Wholesale, Retail, Hotel & Restaurant |
5.2 |
4.7 |
5.9 |
6.9 |
6.5 |
|
Finance, Insurance & Real Estate |
6.90 |
9.70 |
3.70 |
4.65 |
4.25 |
|
Government Services |
12.4 |
9.4 |
8.3 |
6.1 |
5.6 |
|
Other Services |
5.1 |
3.9 |
5.1 |
4.8 |
4.5 |
|
Industry Non-Performing Loans ( MYR Million ) |
6,825.2 |
- |
- |
- |
- |
|
% of Industry Non-Performing Loans |
23.4 |
- |
- |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
|
MSIC CODE |
|
|
46698 : Wholesale of metal and non-metal waste and scrap and
materials for recycling |
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade is expected to increase 7.1% in
2015 (2014: 7.7%) driven by strong domestic consumption and higher tourist arrivals
following the Malaysia Year of Festivals 2015. Besides, in 2014, the
wholesale and retail trade subsector is expected to increase 7.7% (2013:
6.4%) supported by strong domestic consumption. |
|
|
According to Retail Group Malaysia (RGM), the pharmacy and
personal care sub-sector had slow growth rate of 2.6% for the first quarter
of 2014, while "other specialty stores" grew at a rate of 3.5%.
During the first quarter of 2014, fashion and fashion accessories recorded a
sustainable growth of 6.3% as compared with the same period last year (3.6%). |
|
|
The retail segment increased 10.1% (January - June 2013: 7.1%)
attributed to brisk sales in retail outlets such as hypermarkets and
large-scale superstores. Since the launch of the Small Retailer Transformation
programme (TUKAR) in January 2011 up to end-July 2014, 1,761 small retailer
stores (end-July 2013: 1,381) have been modernized to improve their
competitiveness. In addition, the strong growth of the retail segment was
supported by 1Malaysia Unified Sales held from 29 June 2014 to 1 September
2014 to attract foreign and local tourists to shop in Malaysia. Meanwhile,
the wholesale segment expanded 8.2% (January - June 2013: 4.9%) due to higher
sales of non-agricultural intermediate products, such as petrol, diesel,
lubricants and household goods. Furthermore, food and beverage outlets,
laundry outlets, car wash centres, abd health and beauty outlets took a hit
from the water rationing in the Klang Valley since February this year. |
|
|
On the other hand, in 2014, Malaysia's total trade is expected
to grow 5.2% to RM1.44 trillion (2013: 4.5%; RM1.37 trillion) underpinned by
recovery in key advanced economies, resilient regional demand, and partly due
to the base effect arising from sluggish exports in the corresponding period
last year. Gross exports are anticipated to expand 6% to RM762.8 billion
while import decreased 4.3% to RM677.2 billion (2013: 2.4%; RM719.8 billion;
7%; RM 649.1 billion). Consequently, the trade surplus is expected to be higher
at RM85.6 billion or 7.9% of GDP in 2014 (2013: RM70.7 billion; 7.2%). |
|
|
Furthermore, gross exports rebounded by 10.7% to RM441.3 billion
during the first seven months of 2014 (January - July 2013: -2.8%; RM398.5
billion), with manufactured and mining exports rising at a double digit pace
of 11.4% and 12.5%. Shipment of agriculture products grew at a slower pace of
2.7%, primarily due to lower receipts of crude rubber (-24.6%) while export
growth of other commodities remained steady. Consequently, exports of
manufactured and mining products are expected to grow 6.1% and 6.4% in 2014
(2013: 5.1%; 3.3%). Meanwhile, agriculture exports are expected to rebound
sharply by 4.5% in 2014 (2013: -14.4%) despite moderating commodity prices.
Malaysia's top 3 trading partners are China, Singapore, and Japan. |
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by
domestic consumption. Therefore the wholesale and retail sector plays a crucial
role in driving Malaysia's growth over the next decade despite the ongoing
global economic slowdown. By 2020, Malaysia's wholesale and retail sector is
expected to boost the country's total Gross National Income (GNI) by RM156
billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
|
Incorporated in 2005, the
Subject is a Private Limited company, focusing on metal recycling. Having been
in the industry for over a decade, the Subject has achieved a certain market
share and has built up a satisfactory reputation in the market. It should
have received supports from its regular customers. A paid up capital of MYR
2,300,000 allows the Subject to expand its business more comfortably.
However, the Subject does not have strong shareholders’ backing. Without a
strong shareholders' backing, the opportunity of the Subject to expand its
business is limited.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
MATRRIX ADVANCE STEEL (M) SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
SUMMARY |
SUMMARY |
FULL |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
25,737,159 |
22,670,337 |
15,638,366 |
10,227,554 |
16,547,151 |
|
Other Income |
- |
- |
(215) |
10,230 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
25,737,159 |
22,670,337 |
15,638,151 |
10,237,784 |
16,547,151 |
|
Costs of Goods Sold |
- |
- |
(13,975,169) |
(8,851,192) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
1,662,982 |
1,386,592 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
698,586 |
224,888 |
189,242 |
35,780 |
29,746 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
698,586 |
224,888 |
189,242 |
35,780 |
29,746 |
|
Taxation |
(178,374) |
(101,691) |
(108,341) |
(2,043) |
(23,545) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
520,212 |
123,197 |
80,901 |
33,737 |
6,201 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
275,351 |
152,154 |
71,253 |
37,516 |
231,315 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
275,351 |
152,154 |
71,253 |
37,516 |
231,315 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
795,563 |
275,351 |
152,154 |
71,253 |
237,516 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
- |
(200,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
795,563 |
275,351 |
152,154 |
71,253 |
37,516 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
- |
- |
83,982 |
96,739 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
83,982 |
96,739 |
- |
|
|
- |
- |
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
- |
- |
294,069 |
249,135 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
294,069 |
249,135 |
- |
|
|
============= |
============= |
============= |
|
MATRRIX ADVANCE STEEL (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,628,832 |
1,627,537 |
769,087 |
830,037 |
664,660 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,628,832 |
1,627,537 |
769,087 |
830,037 |
664,660 |
|
Stocks |
- |
- |
495,754 |
405,580 |
- |
|
Trade debtors |
- |
- |
753,331 |
495,175 |
- |
|
Other debtors, deposits & prepayments |
- |
- |
105,534 |
48,241 |
- |
|
Short term deposits |
- |
- |
259,586 |
260,213 |
- |
|
Amount due from director |
- |
- |
23,388 |
- |
- |
|
Cash & bank balances |
- |
- |
806,793 |
305,510 |
- |
|
Others |
- |
- |
45,954 |
55,896 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
5,127,721 |
2,977,163 |
2,490,340 |
1,570,615 |
1,971,867 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,756,553 |
4,604,700 |
3,259,427 |
2,400,652 |
2,636,527 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
- |
- |
769,351 |
168,965 |
- |
|
Other creditors & accruals |
- |
- |
70,353 |
46,683 |
- |
|
Hire purchase & lease creditors |
- |
- |
251,019 |
229,976 |
- |
|
Bank overdraft |
- |
- |
- |
14,245 |
- |
|
Short term borrowings/Term loans |
- |
- |
69,093 |
12,048 |
- |
|
Bill & acceptances payable |
- |
- |
398,000 |
500,000 |
- |
|
Amounts owing to director |
- |
- |
- |
416,089 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3,353,234 |
1,748,871 |
1,557,816 |
1,388,006 |
1,680,372 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,774,487 |
1,228,292 |
932,524 |
182,609 |
291,495 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,403,319 |
2,855,829 |
1,701,611 |
1,012,646 |
956,155 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
950,000 |
950,000 |
950,000 |
500,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
950,000 |
950,000 |
950,000 |
500,000 |
500,000 |
|
Retained profit/(loss) carried forward |
795,563 |
275,351 |
152,154 |
71,253 |
37,516 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
795,563 |
275,351 |
152,154 |
71,253 |
37,516 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,745,563 |
1,225,351 |
1,102,154 |
571,253 |
537,516 |
|
Long term loans |
- |
- |
222,671 |
35,859 |
- |
|
Hire purchase creditors |
- |
- |
290,050 |
405,534 |
- |
|
Deferred taxation |
- |
- |
86,736 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,657,756 |
1,630,478 |
599,457 |
441,393 |
418,639 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,403,319 |
2,855,829 |
1,701,611 |
1,012,646 |
956,155 |
|
|
============= |
============= |
============= |
============= |
============= |
|
MATRRIX ADVANCE STEEL (M) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
- |
- |
1,066,379 |
565,723 |
- |
|
Net Liquid Funds |
- |
- |
668,379 |
51,478 |
- |
|
Net Liquid Assets |
1,774,487 |
1,228,292 |
436,770 |
(222,971) |
291,495 |
|
Net Current Assets/(Liabilities) |
1,774,487 |
1,228,292 |
932,524 |
182,609 |
291,495 |
|
Net Tangible Assets |
3,403,319 |
2,855,829 |
1,701,611 |
1,012,646 |
956,155 |
|
Net Monetary Assets |
116,731 |
(402,186) |
(162,687) |
(664,364) |
(127,144) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
- |
- |
273,224 |
132,519 |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
- |
- |
567,293 |
381,654 |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
- |
- |
1,230,833 |
1,197,662 |
- |
|
Total Liabilities |
5,010,990 |
3,379,349 |
2,157,273 |
1,829,399 |
2,099,011 |
|
Total Assets |
6,756,553 |
4,604,700 |
3,259,427 |
2,400,652 |
2,636,527 |
|
Net Assets |
3,403,319 |
2,855,829 |
1,701,611 |
1,012,646 |
956,155 |
|
Net Assets Backing |
1,745,563 |
1,225,351 |
1,102,154 |
571,253 |
537,516 |
|
Shareholders' Funds |
1,745,563 |
1,225,351 |
1,102,154 |
571,253 |
537,516 |
|
Total Share Capital |
950,000 |
950,000 |
950,000 |
500,000 |
500,000 |
|
Total Reserves |
795,563 |
275,351 |
152,154 |
71,253 |
37,516 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
- |
- |
0.68 |
0.41 |
- |
|
Liquid Ratio |
- |
- |
1.28 |
0.84 |
- |
|
Current Ratio |
1.53 |
1.70 |
1.60 |
1.13 |
1.17 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
- |
- |
12 |
14 |
- |
|
Debtors Ratio |
- |
- |
18 |
18 |
- |
|
Creditors Ratio |
- |
- |
20 |
7 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
- |
- |
1.12 |
2.10 |
- |
|
Liabilities Ratio |
2.87 |
2.76 |
1.96 |
3.20 |
3.91 |
|
Times Interest Earned Ratio |
- |
- |
3.25 |
1.37 |
- |
|
Assets Backing Ratio |
3.58 |
3.01 |
1.79 |
2.03 |
1.91 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.71 |
0.99 |
1.21 |
0.35 |
0.18 |
|
Net Profit Margin |
2.02 |
0.54 |
0.52 |
0.33 |
0.04 |
|
Return On Net Assets |
20.53 |
7.87 |
16.06 |
13.09 |
3.11 |
|
Return On Capital Employed |
20.53 |
7.87 |
13.99 |
10.54 |
3.11 |
|
Return On Shareholders' Funds/Equity |
29.80 |
10.05 |
7.34 |
5.91 |
1.15 |
|
Dividend Pay Out Ratio (Times) |
- |
- |
0 |
0 |
32.25 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
- |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
UK Pound |
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.