|
Report No. : |
347344 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRITISHINDIA ( |
|
|
|
|
Formerly Known As : |
BRITISH INDIA ( FTS HOMES & CLOTHES SDN BHD |
|
|
|
|
Registered Office : |
Unit 110 Block A Pusat Dagangan Phileo, Damansara Ii 15 Jalan 16/11,
Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
19.01.2000 |
|
|
|
|
Com. Reg. No.: |
503241-T |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Retailing of Ladies, Man, Children’s Wears and Accessories. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. |
: |
503241-T |
||||
|
COMPANY NAME |
: |
BRITISHINDIA (ASIA) SDN. BHD. |
||||
|
FORMER NAME |
: |
BRITISH INDIA (ASIA) SDN BHD
(26/05/2004) |
||||
|
INCORPORATION DATE |
: |
19/01/2000 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
UNIT 110 BLOCK A PUSAT DAGANGAN
PHILEO, DAMANSARA II 15 JALAN 16/11, OFF JALAN DAMANSARA, 46350 PETALING
JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 1, JALAN TEKNOLOGI 3/1, TAMAN
SAINS SELANGOR, KOTA DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-61456888 |
||||
|
FAX.NO. |
: |
03-61456808 |
||||
|
CONTACT PERSON |
: |
YONG SOON HIAN ( MANAGING DIRECTOR
) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
47711 |
||||
|
PRINCIPAL ACTIVITY |
: |
RETAILING OF LADIES, MAN,
CHILDRENS WEARS AND ACCESORRIES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 12,681,103 [2014] |
||||
|
NET WORTH |
: |
MYR 19,542,901 [2014] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY/ BACKGROUND |
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) retailing of ladies, man, childrens wears and
accesorries.
The Subject is not listed on Bursa
Malaysia (Malaysia Stock Exchange).
The immediate holding company of the
Subject is BRAND CORPORATION, a company incorporated in VIRGIN ISLANDS,
BRITISH.
Former Address(es)
|
Address |
As At Date |
|
NO.227,JALAN SELINSING 7, TAMAN
NIAGA WARIS, OFF JALAN KUCHING;K.L, 51200, WILAYAH PERSEKUTUAN, MALAYSIA |
15/02/2013 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/09/2014 |
MYR 1,000,000.00 |
MYR 500,000.00 |
|
15/02/1999 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the
Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BRAND CORPORATION |
JIPFA BUILDING, MAIN STREET ,ROAD
TOWN, TORTOLA, 3RD FLOOR, VIRGIN ISLANDS, BRITISH. |
132396 |
500,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MR. YEOH CHONG SWEE |
|
Address |
: |
10 LORONG TABAN DUA, LUCKY GARDEN,
BANGSAR, 59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
0950402 |
|
New IC No |
: |
431107-07-5155 |
|
Date of Birth |
: |
07/11/1943 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
31/03/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. YONG SOON HIAN |
|
Address |
: |
38, PERSIARAN DUTA, TAMAN DUTA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
471129-08-5393 |
|
Date of Birth |
: |
29/11/1947 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/01/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. TEOH CHYN CHOON |
|
Address |
: |
3 LORONG 16/3B, PETALING JAYA,
SELANGOR, 46305, MALAYSIA. |
|
IC / PP No |
: |
4365158 |
|
New IC No |
: |
520920-08-6185 |
|
Date of Birth |
: |
20/09/1952 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/01/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
MS. LIEW YAM NGOON |
|
Address |
: |
38, PERSIARAN DUTA, 50480 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4243876 |
|
New IC No |
: |
511211-10-5000 |
|
Date of Birth |
: |
11/12/1951 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
19/01/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT |
|
|
|
1) |
Name of Subject |
: |
YONG SOON HIAN |
|
|
Position |
: |
MANAGING DIRECTOR |
AUDITOR |
|
Auditor |
: |
MICHAEL LIM & CO. (KL) |
|
Auditor' Address |
: |
7.16, IMBI PLAZA, 7TH FLOOR, JALAN
IMBI, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
MS. GOEE MEOW NEOH |
|
|
IC / PP No |
: |
A0951471 |
|
|
New IC No |
: |
680313-08-6274 |
|
|
Address |
: |
B17-11 PV 10 CONDO. 2 JALAN DANAU
SAUJANA 2, TAMAN DANAU KOTA, 53300 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
|
|
|
|
|
|
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
13/08/2007 |
MEMORANDUM OF CHARGE |
ING ASIA PRIVATE BANK LTD. |
- |
Unsatisfied |
LITIGATION CHECK AGAINST SUBJECT |
* 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.
DEFAULTER CHECK AGAINST SUBJECT |
* 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.
PAYMENT RECORD |
|
|
|
||||
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
|
|
|
|
|
|
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE |
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CREDIT CARD |
|||
|
Type of Customer |
: |
END USERS,WALK IN CUSTOMERS,RETAIL |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS |
|
Goods Traded |
: |
LADIES, MAN, CHILDRENS WEARS AND
ACCESORRIES
|
|||||
|
|
|
|
|||||
|
Competitor(s) |
: |
BLUSH FASHION SDN BHD
|
|||||
|
|
|
|
|||||
|
Ownership of premises |
: |
LEASED/RENTED
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2012 |
2011 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
200 |
200 |
|
|
|
|
|
|
|
|
Branch |
: |
YES
|
Other Information:
The Subject is principally engaged in the (as a / as an) retailing of ladies,
man, childrens wears and accesorries.
The Subject is a wholesaler of luxury, branded fashion and casual apparel
labels for man, woman and children, as well fashion accessories.
The Subjects products are like Pants, Jeans, Skirt, Shirt, T-Shirt, Long pants
and shorts pants, blouses, gaun, and etc but its major in selling of clothes
which is made from jeans.
The Subject sells the products on its own brands " British India ".
The Subject produces the products according to the customers' requirements in
different patterns and colours.
The Subject also selling Caps, Watches, Shoes, Bags, Belts & Accessories.
CURRENT INVESTIGATION |
Latest fresh investigations carried out
on the Subject indicated that :
|
Telephone Number Provided By
Client |
: |
603 61456838 |
|
Current Telephone Number |
: |
03-61456888 |
|
Match |
: |
NO |
|
|
|
|
|
Address Provided by Client |
: |
LOT 1, JALAN TEKNOLOGI 3/1, TAMAN SAINS
SELANGOR, KOTA DAMANSARA,47810,PETALING JAYA,SELANGOR. |
|
Current Address |
: |
LOT 1, JALAN TEKNOLOGI 3/1, TAMAN
SAINS SELANGOR, KOTA DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS |
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
16.18% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.18% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects
the fierce competition among the existing and new market players.The dip in
profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable return
for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
246 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
101 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service
oriented company, the Subject does not need to keep stocks. The Subject's
debtors ratio was high. The Subject should tighten its credit control and improve
its collection period. The unfavourable creditors' ratio could be due to the
Subject taking advantage of the credit granted by its suppliers. However this
may affect the goodwill between the Subject and its suppliers and the Subject
may inadvertently have to pay more for its future supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
3.75 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.75 Times |
] |
|
|
|
|
|
|
|
|
|
|
A minimum liquid ratio of 1 should
be maintained by the Subject in order to assure its creditors of its ability
to meet short term obligations and the Subject was in a good liquidity
position. Thus, we believe the Subject is able to meet all its short term
obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil
as it did not pay any interest during the year. The Subject had no gearing
and hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject recorded lower profits
as its turnover showed a erratic trend. The Subject's management was unable
to control its costs efficiently as its profit showed a downward trend. The
Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject did
not make any interest payment during the year. The Subject was dependent on
its shareholders' funds to finance its business needs. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the
Subject : STRONG |
||||||
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK |
|
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 |
|||||
INDUSTRY ANALYSIS |
|
MSIC CODE |
|
|
47711 : Retail sale of articles of
clothing, articles of fur and clothing accessories |
|
|
|
|
|
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 |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
|
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE
PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
BRITISHINDIA (ASIA) SDN. BHD. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
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 |
FULL |
FULL |
SUMMARY |
SUMMARY |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
|
|
|
|
|
|
|
TURNOVER |
12,681,103 |
12,533,870 |
12,687,990 |
12,687,987 |
12,687,990 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
12,681,103 |
12,533,870 |
12,687,990 |
12,687,987 |
12,687,990 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,162,937 |
4,336,296 |
6,563,838 |
4,721,682 |
4,973,295 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
3,162,937 |
4,336,296 |
6,563,838 |
4,721,682 |
4,973,295 |
|
Taxation |
- |
- |
- |
- |
(4,127) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
3,162,937 |
4,336,296 |
6,563,838 |
4,721,682 |
4,969,168 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT
FORWARD |
|
|
|
|
|
|
As previously reported |
15,879,964 |
11,543,668 |
13,294,030 |
8,572,348 |
21,642,060 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
15,879,964 |
11,543,668 |
13,294,030 |
8,572,348 |
21,642,060 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR
APPROPRIATIONS |
19,042,901 |
15,879,964 |
19,857,868 |
13,294,030 |
26,611,228 |
|
DIVIDENDS - Ordinary (paid &
proposed) |
- |
- |
(8,314,200) |
- |
(18,038,880) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED
FORWARD |
19,042,901 |
15,879,964 |
11,543,668 |
13,294,030 |
8,572,348 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE SHEET |
|
BRITISHINDIA (ASIA) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
472,043 |
598,178 |
799,022 |
206,824 |
135,779 |
|
|
|
|
|
|
|
|
Investments |
- |
47,022,190 |
- |
- |
- |
|
Investment securities |
- |
- |
- |
- |
34,005,834 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER
ASSETS |
- |
47,022,190 |
38,358,758 |
43,203,285 |
34,005,834 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
472,043 |
47,620,368 |
39,157,780 |
43,410,109 |
34,141,613 |
|
|
|
|
|
|
|
|
Trade debtors |
8,533,939 |
4,312,451 |
- |
- |
166,235 |
|
Other debtors, deposits &
prepayments |
4,990,867 |
212,903 |
- |
- |
240,368 |
|
Amount due from holding company |
11,702,614 |
- |
- |
- |
- |
|
Cash & bank balances |
771,683 |
814,084 |
- |
- |
1,217,151 |
|
Others |
16,215 |
35,986 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
26,015,318 |
5,375,424 |
6,254,893 |
7,186,566 |
1,623,754 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
26,487,361 |
52,995,792 |
45,412,673 |
50,596,675 |
35,765,367 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
3,502,130 |
5,924,203 |
- |
- |
314,586 |
|
Other creditors & accruals |
3,442,330 |
23,145,548 |
- |
- |
18,989,956 |
|
Amounts owing to holding company |
- |
7,546,077 |
- |
- |
7,388,213 |
|
Provision for taxation |
- |
- |
- |
- |
264 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
6,944,460 |
36,615,828 |
33,369,005 |
36,802,645 |
26,693,019 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
19,070,858 |
(31,240,404) |
(27,114,112) |
(29,616,079) |
(25,069,265) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
|
Ordinary share capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
|
|
|
|
|
|
|
Retained profit/(loss) carried
forward |
19,042,901 |
15,879,964 |
11,543,668 |
13,294,030 |
8,572,348 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
19,042,901 |
15,879,964 |
11,543,668 |
13,294,030 |
8,572,348 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
BRITISHINDIA (ASIA) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
771,683 |
814,084 |
- |
- |
1,217,151 |
|
Net Liquid Funds |
771,683 |
814,084 |
- |
- |
1,217,151 |
|
Net Liquid Assets |
19,070,858 |
(31,240,404) |
(27,114,112) |
(29,616,079) |
(25,069,265) |
|
Net Current Assets/(Liabilities) |
19,070,858 |
(31,240,404) |
(27,114,112) |
(29,616,079) |
(25,069,265) |
|
Net Tangible Assets |
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
Net Monetary Assets |
19,070,858 |
(31,240,404) |
(27,114,112) |
(29,616,079) |
(25,069,265) |
|
PROFIT & LOSS ITEMS |
|
|
|
|
|
|
Earnings Before Interest & Tax
(EBIT) |
0 |
0 |
- |
- |
0 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
0 |
0 |
- |
- |
0 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
0 |
0 |
- |
- |
0 |
|
Total Liabilities |
6,944,460 |
36,615,828 |
33,369,005 |
36,802,645 |
26,693,019 |
|
Total Assets |
26,487,361 |
52,995,792 |
45,412,673 |
50,596,675 |
35,765,367 |
|
Net Assets |
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
Net Assets Backing |
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
Shareholders' Funds |
19,542,901 |
16,379,964 |
12,043,668 |
13,794,030 |
9,072,348 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
19,042,901 |
15,879,964 |
11,543,668 |
13,294,030 |
8,572,348 |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.11 |
0.02 |
- |
- |
0.05 |
|
Liquid Ratio |
3.75 |
0.15 |
- |
- |
0.06 |
|
Current Ratio |
3.75 |
0.15 |
0.19 |
0.20 |
0.06 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
0 |
0 |
- |
- |
0 |
|
Debtors Ratio |
246 |
126 |
- |
- |
5 |
|
Creditors Ratio |
101 |
173 |
- |
- |
9 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0 |
0 |
- |
- |
0 |
|
Liabilities Ratio |
0.36 |
2.24 |
2.77 |
2.67 |
2.94 |
|
Times Interest Earned Ratio |
0 |
0 |
- |
- |
0 |
|
Assets Backing Ratio |
39.09 |
32.76 |
24.09 |
27.59 |
18.14 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
24.94 |
34.60 |
51.73 |
37.21 |
39.20 |
|
Net Profit Margin |
24.94 |
34.60 |
51.73 |
37.21 |
39.16 |
|
Return On Net Assets |
16.18 |
26.47 |
54.50 |
34.23 |
54.82 |
|
Return On Capital Employed |
16.18 |
26.47 |
54.50 |
34.23 |
54.82 |
|
Return On Shareholders'
Funds/Equity |
16.18 |
26.47 |
54.50 |
34.23 |
54.77 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
1.27 |
- |
3.63 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
|
- |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.