|
Report No. : |
341030 |
|
Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIAL TRADE WELL SDN. BHD. |
|
|
|
|
Registered Office : |
139, Jalan Bunus, Off Jalan Masjid India, 2nd Floor, 50100 Kuala Lumpur,
Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.07.2009 |
|
|
|
|
Com. Reg. No.: |
863033-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is supplying industrial equipment to oil and gas petrochemical
industries |
|
|
|
|
No. of Employee : |
8 (2014) |
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 : |
Slow but correct |
|
|
|
|
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION
NO. |
: |
863033-K |
||||
|
COMPANY
NAME |
: |
INDUSTRIAL
TRADE WELL SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
03/07/2009 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
139,
JALAN BUNUS, OFF JALAN MASJID INDIA, 2ND FLOOR, 50100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
S2.27,
SOUTH CITY PLAZA, 2ND FLOOR, PERSIARAN SERDANG PERDANA, 43300 BALAKONG,
SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-89416671 |
||||
|
FAX.NO. |
: |
03-89415742 |
||||
|
WEB
SITE |
: |
WWW.ITW.COM.MY |
||||
|
CONTACT
PERSON |
: |
GHORBAN
RAHIMI GHOLAMALI ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
46594
|
||||
|
PRINCIPAL
ACTIVITY |
: |
SUPPLYING
INDUSTRIAL EQUIPMENT TO OIL AND GAS PETROCHEMICAL INDUSTRIES |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
1,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
1,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
6,465,538 [2013] |
||||
|
NET
WORTH |
: |
MYR
376,535 [2013] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
MODERATE
|
||||
|
PAYMENT |
: |
SLOW
BUT CORRECT |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
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) supplying industrial
equipment to oil and gas petrochemical industries.
The
Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
28/11/2014 |
MYR
1,000,000.00 |
MYR
1,000,000.00 |
|
29/07/2010 |
MYR
500,000.00 |
MYR
500,000.00 |
|
03/07/2009 |
MYR
100,000.00 |
MYR
3.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
HISHAM BIN BABA + |
475,
JALAN B10, TAMAN MELAWATI, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
640301-04-5743
7249211 |
700,000.00 |
70.00 |
|
GHORBAN
RAHIMI GHOLAMALI + |
4-7-7A,
TRIVOLI VILLAS CONDOMINIUM, JALAN MEDANG TANDUK, BUKIT BANDARAYA, KUALA
LUMPUR, 49100, MALAYSIA. |
Z26704872 |
200,000.00 |
20.00 |
|
ZAHRA
DAVOODI ASADOLLAH + |
4-7-7A,
TRIVOLI VILLAS CONDOMINIUM, JALAN MEDANG TANDUK, BUKIT BANDARAYA, KUALA
LUMPUR, 49100, MALAYSIA. |
Z26706847 |
100,000.00 |
10.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
ZAHRA
DAVOODI ASADOLLAH |
|
Address |
: |
4-7-7A,
TRIVOLI VILLAS CONDOMINIUM, JALAN MEDANG TANDUK, BUKIT BANDARAYA, KUALA LUMPUR,
49100, MALAYSIA. |
|
IC
/ PP No |
: |
Z26706847 |
|
Date
of Appointment |
: |
03/07/2009 |
DIRECTOR
2
|
Name
Of Subject |
: |
GHORBAN
RAHIMI GHOLAMALI |
|
Address |
: |
4-7-7A,
TRIVOLI VILLAS CONDOMINIUM, JALAN MEDANG TANDUK, BUKIT BANDARAYA, KUALA
LUMPUR, 49100, MALAYSIA. |
|
IC
/ PP No |
: |
Z26704872 |
|
Date
of Appointment |
: |
03/07/2009 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
HISHAM BIN BABA |
|
Address |
: |
475,
JALAN B10, TAMAN MELAWATI, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC
/ PP No |
: |
7249211 |
|
New
IC No |
: |
640301-04-5743 |
|
Date
of Birth |
: |
01/03/1964 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
03/07/2009 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
GHORBAN
RAHIMI GHOLAMALI |
|
Position |
: |
MANAGING
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
STEVEN
LIM & ASSOCIATES |
|
Auditor'
Address |
: |
33-2,
JALAN 4/93, TAMAN MIHARJA, LEVEL 2, 55200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
|
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MR.
HISHAM BIN BABA |
|
IC
/ PP No |
: |
7249211 |
|
|
New
IC No |
: |
640301-04-5743 |
|
|
Address |
: |
475,
JALAN B10, TAMAN MELAWATI, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
RHB
BANK BHD |
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
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 |
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 |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
INDUSTRIAL
EQUIPMENT TO OIL AND GAS PETROCHEMICAL INDUSTRIES |
|||||
|
Competitor(s) |
: |
DAIFUKU
(MALAYSIA) SDN BHD |
|||||
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2014 |
2012 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
8 |
10 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) supplying industrial
equipment to oil and gas petrochemical industries.
The Subject is specialised and individual core area of expertise, ranging from mechanical,
electrical and instrumentation installation to full system integration.
The Subject is proud to service Malaysia industry leaders, multinational
corporations from diverse industries such as oil & gas, chemical &
petrochemical, construction materials and other industries as well.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-89416671 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
S
2.27, SOUTH CITY PLAZA, PERSIARAN SERDANG PERDANA, 43300 KUALA LUMPUR |
|
Current
Address |
: |
S2.27,
SOUTH CITY PLAZA, 2ND FLOOR, PERSIARAN SERDANG PERDANA, 43300 BALAKONG,
SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009
- 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2009
- 2013 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
4.46% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
6.32% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The management
had succeeded in turning the Subject into a profit making company. The profit
could be due to better control of its operating costs and efficiency in
utilising its resources. The unfavourable return on shareholders' funds could
indicate that the Subject was inefficient in utilising its assets to generate
returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
0
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
15
Days |
] |
|
|
As
the Subject is a service oriented company, the Subject does not need to keep
stocks. The favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.45
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.45
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
higher turnover had helped to reduce the Subject's losses. 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 : FAIR |
||||||
|
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 |
|
|
46594
: Wholesale of industrial machinery, equipment and supplies |
|
|
INDUSTRY
: |
MACHINERY |
|
Malaysia
is presently the leading manufacturer of automation machinery and equipment
(M&E) in the ASEAN region with a total of 22 companies in production. The
machinery and equipment industry has expanded and produce a diverse range of
machinery which give importance to the overall industrial development of the
country, due to its cross cutting linkages with all industrial sectors. |
|
|
Growth
of the domestic-oriented industries such as machinery and transportation
equipment is expected to remain favourable in 2014, in line with resilient domestic
consumption and robust private investment. However, the output of
general-purpose machinery decreased 8.8% in the first seven moths of 2014
(January - July 2013: -1.8%) due to the decline in manufacture of
air-conditioning machine (-17.9%) as well as lifting and handling equipment
(-8.2%). |
|
|
Besides,
shipments of machinery, appliances and parts continued to expand rapidly by
12.5% in the first seven months of 2014 (January - July 2013: 1.4%) with
stronger demand from Singapore, the US, China and Australia. Growth was
mainly contributed by specialized machinery for specific industries (16.3%),
particularly for civil engineering and manufacture of semiconductors as well
as general industrial machinery and equipment (9.2%) such as heating and cooling
equipment and parts as well as mechanical handling equipment and parts. |
|
|
According
to the World Bank's Doing Business 2014 Report, Malaysia improved to 15th
from 25th position in the 2014 Foreign Direct Investment Confidence Index,
with highlighted Malaysia's efforts in building its competitive position in
electronics, automotive, and machinery manufacturing to move up the value
chain into high technology and skill-intensive segments. |
|
|
The
Government has identified the M&E industry to be one of the key areas for
growth and development. The growth will focus on the manufacture of high
value-added and high technology M&E. For the further development of the
M&E industry, six strategic thrusts have been set during the Third Industrial
Master Plan (IMP3), 2006 - 2020 period:- |
|
|
-
Promoting Malaysia as a regional production, trading and distribution centre
for M&E |
|
|
-
Rising the development and promotion of selected specialized and high
technology M&E |
|
|
-
Strengthening the engineering support industries and support services |
|
|
-
Developing Malaysian Standards for machinery and equipment |
|
|
-
Developing sufficient highly skilled workforce |
|
|
-
Strengthening the institutional support for the further development of the industry |
|
|
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) |
|
INDUSTRIAL
TRADE WELL SDN. BHD. |
|
Financial
Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
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 |
FULL |
FULL |
SUMMARY |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
6,465,538 |
5,996,722 |
5,308,301 |
1,334,295 |
- |
|
Other
Income |
- |
- |
- |
5,494 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
6,465,538 |
5,996,722 |
5,308,301 |
1,339,789 |
- |
|
Costs
of Goods Sold |
(6,122,533) |
(5,517,386) |
- |
(1,702,342) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
343,005 |
479,336 |
- |
(362,553) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
23,805 |
(80,546) |
(114,072) |
(441,652) |
(4,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
23,805 |
(80,546) |
(114,072) |
(441,652) |
(4,000) |
|
Taxation |
(7,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
16,805 |
(80,546) |
(114,072) |
(441,652) |
(4,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(623,465) |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(623,465) |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
DEPRECIATION
(as per notes to P&L) |
6,802 |
5,434 |
- |
3,200 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,802 |
5,434 |
- |
3,200 |
- |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
INDUSTRIAL
TRADE WELL SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
18,232 |
18,197 |
21,581 |
17,483 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
18,232 |
18,197 |
21,581 |
17,483 |
- |
|
Other
debtors, deposits & prepayments |
720,688 |
11,211 |
- |
507,208 |
4,159 |
|
Amount
due from director |
154,998 |
214,998 |
- |
- |
- |
|
Cash
& bank balances |
276,371 |
425,783 |
- |
32,076 |
43,585 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
1,152,057 |
651,992 |
309,823 |
539,284 |
47,744 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,170,289 |
670,189 |
331,404 |
556,767 |
47,744 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
250,851 |
- |
- |
- |
- |
|
Other
creditors & accruals |
13,575 |
92,673 |
- |
14,035 |
882 |
|
Amounts
owing to director |
522,328 |
217,786 |
- |
488,384 |
50,859 |
|
Provision
for taxation |
7,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
793,754 |
310,459 |
391,128 |
502,419 |
51,741 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
358,303 |
341,533 |
(81,305) |
36,865 |
(3,997) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
1,000,000 |
1,000,000 |
500,000 |
500,000 |
3 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,000,000 |
1,000,000 |
500,000 |
500,000 |
3 |
|
Retained
profit/(loss) carried forward |
(623,465) |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(623,465) |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
INDUSTRIAL
TRADE WELL SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
276,371 |
425,783 |
- |
32,076 |
43,585 |
|
Net
Liquid Funds |
276,371 |
425,783 |
- |
32,076 |
43,585 |
|
Net
Liquid Assets |
358,303 |
341,533 |
(81,305) |
36,865 |
(3,997) |
|
Net
Current Assets/(Liabilities) |
358,303 |
341,533 |
(81,305) |
36,865 |
(3,997) |
|
Net
Tangible Assets |
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
Net
Monetary Assets |
358,303 |
341,533 |
(81,305) |
36,865 |
(3,997) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
23,805 |
(80,546) |
- |
(441,652) |
(4,000) |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
30,607 |
(75,112) |
- |
(438,452) |
(4,000) |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
- |
0 |
0 |
|
Total
Liabilities |
793,754 |
310,459 |
391,128 |
502,419 |
51,741 |
|
Total
Assets |
1,170,289 |
670,189 |
331,404 |
556,767 |
47,744 |
|
Net
Assets |
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
Net
Assets Backing |
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
Shareholders'
Funds |
376,535 |
359,730 |
(59,724) |
54,348 |
(3,997) |
|
Total
Share Capital |
1,000,000 |
1,000,000 |
500,000 |
500,000 |
3 |
|
Total
Reserves |
(623,465) |
(640,270) |
(559,724) |
(445,652) |
(4,000) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.35 |
1.37 |
- |
0.06 |
0.84 |
|
Liquid
Ratio |
1.45 |
2.10 |
- |
1.07 |
0.92 |
|
Current
Ratio |
1.45 |
2.10 |
0.79 |
1.07 |
0.92 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
0 |
0 |
- |
0 |
0 |
|
Debtors
Ratio |
0 |
0 |
- |
0 |
0 |
|
Creditors
Ratio |
15 |
0 |
- |
0 |
0 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0 |
0 |
- |
0 |
0 |
|
Liabilities
Ratio |
2.11 |
0.86 |
(6.55) |
9.24 |
(12.94) |
|
Times
Interest Earned Ratio |
0 |
0 |
- |
0 |
0 |
|
Assets
Backing Ratio |
0.38 |
0.36 |
(0.12) |
0.11 |
(1,332.33) |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.37 |
(1.34) |
(2.15) |
(33.10) |
0 |
|
Net
Profit Margin |
0.26 |
(1.34) |
(2.15) |
(33.10) |
0 |
|
Return
On Net Assets |
6.32 |
(22.39) |
191.00 |
(812.64) |
100.08 |
|
Return
On Capital Employed |
6.32 |
(22.39) |
191.00 |
(812.64) |
100.08 |
|
Return
On Shareholders' Funds/Equity |
4.46 |
(22.39) |
191.00 |
(812.64) |
100.08 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
- |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
- |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.44 |
|
|
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.