|
Report No. : |
339411 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
K.N.LEE KNITTING
INDUSTRIES SDN.BHD. |
|
|
|
|
Registered Office : |
19A, Jalan Penjaja 3, Kim's Park Business Centre, 83000 Batu Pahat, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
02.11.1983 |
|
|
|
|
Com. Reg. No.: |
109141-H |
|
|
|
|
Legal Form : |
Exempt Private (Limited by Share) |
|
|
|
|
Line of Business : |
Manufacture of Fabrics & Garments. |
|
|
|
|
No. of Employees : |
Not Available |
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. |
: |
109141-H |
||||
|
COMPANY
NAME |
: |
K.N.LEE
KNITTING INDUSTRIES SDN.BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
02/11/1983 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
19A,
JALAN PENJAJA 3, KIM'S PARK BUSINESS CENTRE, 83000 BATU PAHAT, JOHOR,
MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
46,
JALAN LIM YEW LEONG, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-4317315 |
||||
|
FAX.NO. |
: |
07-4318288 |
||||
|
EMAIL |
: |
KNLEEKNT@KNLEE.COM.MY |
||||
|
WEB
SITE |
: |
WWW.KNLEE.COM.MY |
||||
|
CONTACT
PERSON |
: |
LEE
AH TEE ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
14101
|
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURE
OF FABRICS & GARMENTS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
1,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
600,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
300
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
HISTORY/
BACKGROUND
|
The Subject is an exempt private company
which is allowed to have a minimum of two and a maximum of twenty shareholders and
all the shareholders must be individuals. An exempt company is a type of
private limited company. 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, suing or be sued by other companies. The
Subject is governed by the Companies Act, 1965 and must file in its annual
return. The Subject need not file in its financial statements but it has to
file in a document duly signed by its director in charge of its finance, the
secretary and its auditor stating that the Subject is able to meet all its
obligations as and when they fall due. Although the Subject is not required to
file in its financial statements, it also has to prepare its financial account
which must be presented at the Annual General Meeting.
The
Subject is principally engaged in the (as a / as an) manufacture of fabrics
& garments.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
15/02/2013 |
MYR
1,000,000.00 |
MYR
600,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
LEE KOK MOI @ LEE KIP NGOR + |
39,
JALAN SEPAT, TAMAN BANANG, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
330728-01-5363 |
305,000.00 |
50.83 |
|
MR.
LEE AH TEE + |
24,
JALAN BASONG, TAMAN DATO ABDUL RAHMAN JAAFAR, 83000 BATU PAHAT, JOHOR,
MALAYSIA. |
541026-01-5959
8154590 |
190,000.00 |
31.67 |
|
MR.
LEE GEE TEE + |
2,
JALAN FLORA 9, TAMAN FLORA, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
570727-01-7167
5569411 |
105,000.00 |
17.50 |
|
--------------- |
------ |
|||
|
600,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
LEE GEE TEE |
|
Address |
: |
2,
JALAN FLORA 9, TAMAN FLORA, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
|
IC
/ PP No |
: |
5569411 |
|
New
IC No |
: |
570727-01-7167 |
|
Date
of Birth |
: |
27/07/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
10/10/1996 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
LEE AH TEE |
|
Address |
: |
24,
JALAN BASONG, TAMAN DATO ABDUL RAHMAN JAAFAR, 83000 BATU PAHAT, JOHOR,
MALAYSIA. |
|
IC
/ PP No |
: |
8154590 |
|
New
IC No |
: |
541026-01-5959 |
|
Date
of Birth |
: |
26/10/1954 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
02/11/1983 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
LEE KOK MOI @ LEE KIP NGOR |
|
Address |
: |
39,
JALAN SEPAT, TAMAN BANANG, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
|
New
IC No |
: |
330728-01-5363 |
|
Date
of Birth |
: |
28/07/1933 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
02/11/1983 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
LEE
AH TEE |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
ERNST
& YOUNG |
|
Auditor'
Address |
: |
MENARA
MILENIUM, JALAN DAMANLELA, PUSAT BANDAR DAMANSARA, DAMANSARA HEIGHTS, LEVEL 23A,
50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MR.
TAN SUI CHEE |
|
IC
/ PP No |
: |
A0437802 |
|
|
New
IC No |
: |
660628-01-6037 |
|
|
Address |
: |
28,
BLOK D, JALAN DURIAN, 86000 KLUANG, JOHOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
HONG
LEONG BANK BHD |
|
2)
|
Name |
: |
UNITED
OVERSEAS BANK (MALAYSIA) BHD |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
17/08/1984 |
N/A |
DEVELOPMENT
COMMERCIAL BANK BHD |
MYR
410,000.00 |
Satisfied |
|
2 |
23/09/1988 |
N/A |
BUMIPUTRA-COMMERCE
BANK BHD |
MYR
900,000.00 |
Satisfied |
|
3 |
21/02/1989 |
N/A |
BUMIPUTRA-COMMERCE
BANK BHD |
MYR
500,000.00 |
Satisfied |
|
4 |
17/02/1990 |
N/A |
BUMIPUTRA-COMMERCE
BANK BHD |
MYR
400,000.00 |
Satisfied |
|
5 |
15/08/1992 |
N/A |
BUMIPUTRA-COMMERCE
BANK BHD |
MYR
500,000.00 |
Satisfied |
|
6 |
30/03/1994 |
N/A |
UNITED
MALAYAN BANKING CORPORATION BHD |
MYR
10,000.00 |
Unsatisfied |
|
7 |
05/12/1995 |
N/A |
CIMB
BANK BERHAD |
MYR
1,500,000.00 |
Satisfied |
|
8 |
21/06/1999 |
N/A |
HONG
LEONG BANK BERHAD |
MYR
300,000.00 |
Satisfied |
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 |
|
Overseas |
: |
YES |
|
Import
Countries |
: |
INDIA,PAKISTAN,INDONESIA |
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
FRANCE |
|||
|
Credit
Term |
: |
30
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
OPERATIONS |
|
Products
manufactured |
: |
|
||||
|
Member(s)
/ Affiliate(s) |
: |
MALAYSIA
EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
||||
|
Ownership
of premises |
: |
OWNED |
||||
|
Factory
/ Premises |
: |
18,
JALAN KESTURI, TAMAN BUNGA RAYA, 83010 BATU PAHAT, JOHOR, MALAYSIA. |
||||
|
Production
Line |
: |
29 |
||||
|
Production
Capacity |
: |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
300 |
300 |
300 |
300 |
315 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacture of fabrics
& garments.
The Subject manufacture a wide range of garments as follows:
1) Camisole - Bra top & printed boy short, camisole & boy short,
camisole & printed bikini.
2) Panties - Bikini, boy short, hipster with lace and thong.
3) Sleepwear - Pyjamas, camisole & boy short, singlet & underwear,
T-suit & underwear.
4) Shirt - Muscle shirt, singlet and T-shirt.
5) Underwear - Boxer brief, boxer short, brief, long john, trunk brief
Besides that the Subject also produces the knitted fabrics such as jackets,
blouses and others.
The Subject offers various types of fabrics including French Terry, Interlock,
Jaquard, Lacoste, Lycra Single Jersey, Pique, Rib and Single Jersey.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
07-4317315 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
46,
JALAN LIM YEW LEONG,83000,BATU PAHAT,JOHOR. |
|
Current
Address |
: |
46,
JALAN LIM YEW LEONG, 83000 BATU PAHAT, JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
The
Subject is a private exempt company which does not need to file in its
accounts with the Registrar of Companies for the information of the public.
Therefore, we are not able to comment on the Subject's financial performance. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
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 |
|
|
14101
: Manufacture of specific wearing apparel |
|
|
INDUSTRY
: |
MANUFACTURING |
|
The
manufacturing sector is expected to grow by 5.5% in 2015. It will be
bolstered by strong domestic and export-oriented industries in line with
growing investment activities and favorable external demand. Moreover, in
2014, the manufacturing sectors have spearheading growth. The manufacturing
sector is estimated to grow at a faster pace in 2014 on higher exports of
electronics and electrical (E&E) products as external demand improves. |
|
|
The
manufacturing sector expanded strongly during the first half of 2014, the
highest growth in three years, spurred by higher global semiconductor sales.
Value-added of the manufacturing sector expanded 7.1% during the first half
of 2014. Production of the sector rose 6.6% in the first seven months of 2014
supported by resilient domestic demand and recovery in the external sector
during the first seven months of the years. The sales value of manufactured
products rebounded by 7.7% in the first seven months of 2014. The strong
performance of the sector was on account of higher output at 9.4% from the
domestic-oriented industries, particularly transport equipment, food and
beverage. |
|
|
The
manufacturing sector continued to attract domestic and foreign investment
with investment approved by Malaysian Investment Development Authority (MIDA)
totaling RM47.4 billion during the first six months of 2014, mainly from
Japan, China and Germany. Meanwhile, the capacity utilization rate remained
steady at 80.4% during the second quarter of 2014 while average wage per
employee and productivity improved to RM2,772 per month and 5.9%,
respectively during the first seven months of 2014. Boosted by favorable
domestic economic activity and recovery in the external sector, the
manufacturing sector is expected to record a better performance with growth
of 6.4% in 2014. |
|
|
In
the meantime, production of wood products rebounded by 5.1% largely supported
by higher output in the saw-milling and planning of wood segment at 25.9%
during the first seven months of 2014. The positive performance was
attributed to vibrant residential and commercial construction activities
which contributed to increased use of timber frame and glued laminated timber
for cost savings compared to the use of concrete and steel. Increased demand
from major export destination such as the US, Japan and Australia for
Malaysian made furniture contributed to the higher output, particularly
wooden and cane furniture which rebounded by 2.2%. |
|
|
Production
of rubber products contracted 0.3% in the first seven months of 2014 on
account of slower demand for rubber gloves and rubber tyres. The decline in
rubber tyres for vehicles was due to the weaker external demand from the
automotive industry, particularly from China. Output of other rubber products
contracted 3.8% following the product shift from rubber-based to plastics,
silicones and metal alloys in the manufacture of medical devices. |
|
|
Besides,
exports of manufactured products are expected to grow 6.1% in 2014 boosted by
the growing demand from advanced economies. However, during the first seven
months of 2014, manufactured exports surged 11.4%. The robust growth was
buoyed by strengthening demand in the US and EU, reflecting significant
exposure of Malaysian exports to the economic performance in the advance
economies. The strength in export was broad-based with robust growth in both
E&E and non- E&E subsectors. |
|
|
Under
budget 2015, the Government will provide incentive in the form of capital
allowance on automation expenditure to encourage automation in the
manufacturing sector, which may help in the manufacturing sector. |
|
|
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) |
|
K.N.LEE
KNITTING INDUSTRIES SDN.BHD. |
|
Financial
Year End |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
2006-12-31 |
|
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 |
SUMMARY |
FULL |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
27,983,759 |
35,150,110 |
37,646,978 |
39,452,965 |
38,163,653 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
27,983,759 |
35,150,110 |
37,646,978 |
39,452,965 |
38,163,653 |
|
Costs
of Goods Sold |
- |
- |
- |
(33,032,868) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
- |
- |
- |
6,420,097 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,333,404 |
1,554,039 |
2,427,935 |
(871,981) |
3,390,133 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,333,404 |
1,554,039 |
2,427,935 |
(871,981) |
3,390,133 |
|
Taxation |
(311,116) |
1,970,246 |
(378,168) |
196,853 |
(750,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
1,022,288 |
3,524,285 |
2,049,767 |
(675,128) |
2,640,133 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
1,022,288 |
3,524,285 |
2,049,767 |
(675,128) |
2,640,133 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
1,022,288 |
3,524,285 |
2,049,767 |
(675,128) |
2,640,133 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
25,741,287 |
22,817,002 |
21,967,235 |
22,642,363 |
20,002,230 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
25,741,287 |
22,817,002 |
21,967,235 |
22,642,363 |
20,002,230 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
26,763,575 |
26,341,287 |
24,017,002 |
21,967,235 |
22,642,363 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(600,000) |
(600,000) |
(1,200,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
26,163,575 |
25,741,287 |
22,817,002 |
21,967,235 |
22,642,363 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
- |
- |
- |
194,082 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
194,082 |
- |
|
|
- |
- |
- |
============= |
- |
|
|
DEPRECIATION
(as per notes to P&L) |
- |
- |
- |
785,243 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
785,243 |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
K.N.LEE
KNITTING INDUSTRIES SDN.BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
10,584,914 |
10,231,542 |
10,671,666 |
11,002,533 |
10,631,031 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
10,584,914 |
10,231,542 |
10,671,666 |
11,002,533 |
10,631,031 |
|
Stocks |
- |
- |
- |
5,149,159 |
- |
|
Trade
debtors |
- |
- |
- |
7,893,210 |
- |
|
Other
debtors, deposits & prepayments |
- |
- |
- |
240,034 |
- |
|
Short
term deposits |
- |
- |
- |
1,565,514 |
- |
|
Amount
due from director |
- |
- |
- |
1,318,510 |
- |
|
Cash
& bank balances |
- |
- |
- |
1,471,229 |
- |
|
Others |
- |
- |
- |
1,525,837 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
20,833,841 |
21,053,489 |
21,434,812 |
19,163,493 |
20,419,665 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
31,418,755 |
31,285,031 |
32,106,478 |
30,166,026 |
31,050,696 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
- |
- |
- |
2,304,665 |
- |
|
Other
creditors & accruals |
- |
- |
- |
1,350,022 |
- |
|
Hire
purchase & lease creditors |
- |
- |
- |
380,530 |
- |
|
Short
term borrowings/Term loans |
- |
- |
- |
138,553 |
- |
|
Other
liabilities |
- |
- |
- |
2,554,878 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
3,475,651 |
3,881,283 |
7,591,065 |
6,728,648 |
6,448,513 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
17,358,190 |
17,172,206 |
13,843,747 |
12,434,845 |
13,971,152 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
27,943,104 |
27,403,748 |
24,515,413 |
23,437,378 |
24,602,183 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
600,000 |
600,000 |
600,000 |
600,000 |
600,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
600,000 |
600,000 |
600,000 |
600,000 |
600,000 |
|
Retained
profit/(loss) carried forward |
26,163,575 |
25,741,287 |
22,817,002 |
21,967,235 |
22,642,363 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
26,163,575 |
25,741,287 |
22,817,002 |
21,967,235 |
22,642,363 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
26,763,575 |
26,341,287 |
23,417,002 |
22,567,235 |
23,242,363 |
|
Hire
purchase creditors |
- |
- |
- |
176,804 |
- |
|
Deferred
taxation |
- |
- |
- |
693,339 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
1,179,529 |
1,062,461 |
1,098,411 |
870,143 |
1,359,820 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
27,943,104 |
27,403,748 |
24,515,413 |
23,437,378 |
24,602,183 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
K.N.LEE
KNITTING INDUSTRIES SDN.BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
- |
- |
- |
3,036,743 |
- |
|
Net
Liquid Funds |
- |
- |
- |
3,036,743 |
- |
|
Net
Liquid Assets |
17,358,190 |
17,172,206 |
13,843,747 |
7,285,686 |
13,971,152 |
|
Net
Current Assets/(Liabilities) |
17,358,190 |
17,172,206 |
13,843,747 |
12,434,845 |
13,971,152 |
|
Net
Tangible Assets |
27,943,104 |
27,403,748 |
24,515,413 |
23,437,378 |
24,602,183 |
|
Net
Monetary Assets |
16,178,661 |
16,109,745 |
12,745,336 |
6,415,543 |
12,611,332 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
- |
- |
- |
(677,899) |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
- |
- |
- |
107,344 |
- |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
- |
- |
- |
695,887 |
- |
|
Total
Liabilities |
4,655,180 |
4,943,744 |
8,689,476 |
7,598,791 |
7,808,333 |
|
Total
Assets |
31,418,755 |
31,285,031 |
32,106,478 |
30,166,026 |
31,050,696 |
|
Net
Assets |
27,943,104 |
27,403,748 |
24,515,413 |
23,437,378 |
24,602,183 |
|
Net
Assets Backing |
26,763,575 |
26,341,287 |
23,417,002 |
22,567,235 |
23,242,363 |
|
Shareholders'
Funds |
26,763,575 |
26,341,287 |
23,417,002 |
22,567,235 |
23,242,363 |
|
Total
Share Capital |
600,000 |
600,000 |
600,000 |
600,000 |
600,000 |
|
Total
Reserves |
26,163,575 |
25,741,287 |
22,817,002 |
21,967,235 |
22,642,363 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
- |
- |
- |
0.45 |
- |
|
Liquid
Ratio |
- |
- |
- |
2.08 |
- |
|
Current
Ratio |
5.99 |
5.42 |
2.82 |
2.85 |
3.17 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
- |
- |
- |
48 |
- |
|
Debtors
Ratio |
- |
- |
- |
73 |
- |
|
Creditors
Ratio |
- |
- |
- |
25 |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
- |
- |
- |
0.03 |
- |
|
Liabilities
Ratio |
0.17 |
0.19 |
0.37 |
0.34 |
0.34 |
|
Times
Interest Earned Ratio |
- |
- |
- |
(3.49) |
- |
|
Assets
Backing Ratio |
46.57 |
45.67 |
40.86 |
39.06 |
41.00 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
4.76 |
4.42 |
6.45 |
(2.21) |
8.88 |
|
Net
Profit Margin |
3.65 |
10.03 |
5.44 |
(1.71) |
6.92 |
|
Return
On Net Assets |
4.77 |
5.67 |
9.90 |
(2.89) |
13.78 |
|
Return
On Capital Employed |
4.77 |
5.67 |
9.90 |
(2.85) |
13.78 |
|
Return
On Shareholders' Funds/Equity |
3.82 |
13.38 |
8.75 |
(2.99) |
11.36 |
|
Dividend
Pay Out Ratio (Times) |
0.59 |
0.17 |
0.59 |
0 |
- |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
- |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.