|
Report No. : |
341070 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORLANDO CORPORATION SDN.BHD. |
|
|
|
|
Formerly Known As : |
ORLANDO PERNIAGAAN SDN BHD CHAP YICK PERNIAGAAN SDN BHD |
|
|
|
|
Registered Office : |
13a, Jalan Ss 21/56b, Damansara Utama, 47400 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
13.11.1978 |
|
|
|
|
Com. Reg. No.: |
43139-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the wholesale and retail of readymade menswear
and related accessories. |
|
|
|
|
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 : |
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. |
: |
43139-H |
||||
|
COMPANY NAME |
: |
ORLANDO CORPORATION SDN.BHD. |
||||
|
FORMER NAME |
: |
ORLANDO PERNIAGAAN SDN BHD (11/09/1981) |
||||
|
INCORPORATION DATE |
: |
13/11/1978 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
13A, JALAN SS 21/56B, DAMANSARA UTAMA, 47400 PETALING JAYA, SELANGOR,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
M3, JALAN M16, ML 16, INDUSTRIAL PARK, 43300 BALAKONG, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-89644323 |
||||
|
FAX.NO. |
: |
03-89644383 |
||||
|
WEB SITE |
: |
WWW.ORLANDO.COM.MY |
||||
|
CONTACT PERSON |
: |
NG CHEE LEONG ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
47510 |
||||
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE AND RETAIL OF READY MADE MENSWEAR AND RELATED ACCESSORIES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 5,578,104.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 27,159,391 [2014] |
||||
|
NET WORTH |
: |
MYR 5,607,029 [2014] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
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) wholesale and
retail of ready made menswear and related accessories.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The ultimate holding company of the Subject is GRACIOUS TRENDS SDN.
BHD., a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
25/09/2014 |
MYR 10,000,000.00 |
MYR 5,578,104.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GRACIOUS TRENDS SDN. BHD. |
7, JALAN SHAMELIN NIAGA 1, SHAMELIN HEIGHTS BUSINESS PARK, TAMAN
SHAMELIN PERKASA, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
888625X |
5,578,104.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,578,104.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
PERDUREN (M) BERHAD |
MALAYSIA |
236800T |
750,000.00 |
24/10/2007 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. TEH CIAW LONG |
|
Address |
: |
20B, JALAN MAS UTAMA, TAMAN LAGENDA MAS, 43200 BALAKONG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A3371877 |
|
New IC No |
: |
760710-01-6667 |
|
Date of Birth |
: |
10/07/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/04/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. NG CHEE LEONG |
|
Address |
: |
92, JALAN TAMING INDAH 3, TAMAN TAMING INDAH, BANDAR SUNGAI LONG,
43000 KAJANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
7256519 |
|
New IC No |
: |
640111-08-5373 |
|
Date of Birth |
: |
11/01/1964 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
03/07/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. KANG MOOI HONG |
|
Address |
: |
MENTARI CONDOMINIUM, A-8-4, 4, JALAN TASIK PERMAISURI 3, BANDAR TUN
RAZAK, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
721114-02-5354 |
|
Date of Birth |
: |
14/11/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/04/2010 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
NG CHEE LEONG |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
JB LAU |
|
Auditor' Address |
: |
9-1, JALAN KUCHAI MAJU 8, KUCHAI ENTREPRENEURS PARK, OFF JALAN KUCHAI
LAMA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. FOO LI LING |
|
New IC No |
: |
701111-07-5286 |
|
|
Address |
: |
67, JALAN BUNGA ANGGERIK 2, DATARAN UKAY, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
3 |
30/10/1981 |
N/A |
ARABMALAYSIA DEVELOPMENT BANK BHD |
MYR 750,000.00 |
Satisfied |
|
4 |
26/02/1982 |
N/A |
DEVELOPMENT COMMERCIAL BANK LTD BHD |
- |
Satisfied |
|
5 |
16/03/1982 |
N/A |
DEVELOPMENT COMMERCIAL BANKLTD BHD |
MYR 189,000.00 |
Satisfied |
|
6 |
24/06/1982 |
N/A |
UNITED MALAYAN BANKING CORPBHD |
MYR 700,000.00 |
Satisfied |
|
7 |
24/06/1982 |
N/A |
UNITED MALAYAN BANKING CORP BHD |
MYR 700,000.00 |
Satisfied |
|
8 |
24/06/1982 |
N/A |
UNITED MALAYAN BANKING CORPBHD |
MYR 90,000.00 |
Satisfied |
|
9 |
28/03/1984 |
N/A |
DEVELOPMENT COMMERCIAL BANK BHD |
MYR 175,000.00 |
Satisfied |
|
10 |
28/03/1984 |
N/A |
DEVELOPMENT COMMERCIAL BANK BHD |
MYR 200,000.00 |
Satisfied |
|
11 |
17/08/1984 |
N/A |
UNITED MALAYAN BANKING CORP |
MYR 90,000.00 |
Satisfied |
|
12 |
17/08/1984 |
N/A |
UNITED MALAYAN BANKING CORP |
MYR 300,000.00 |
Satisfied |
|
13 |
02/01/1985 |
N/A |
PUBLIC BANK BHD |
MYR 1,300,000.00 |
Satisfied |
|
14 |
12/12/1985 |
N/A |
PUBLIC BANK BHD |
MYR 150,000.00 |
Satisfied |
|
15 |
14/09/1987 |
N/A |
PUBLIC BANK BHD |
MYR 1,450,000.00 |
Satisfied |
|
16 |
26/10/1989 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
17 |
29/11/1989 |
N/A |
DEVELOPMENT COMMERCIAL BANK BERHAD |
- |
Satisfied |
|
18 |
18/01/1990 |
N/A |
PUBLIC BANK BERHAD |
MYR 500,000.00 |
Satisfied |
|
19 |
08/08/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
20 |
08/08/1990 |
N/A |
UNITED MALAYAN BANKING CORPORATION BERHAD |
MYR 100,000.00 |
Satisfied |
|
21 |
16/11/1990 |
N/A |
PUBLIC BANK BERHAD |
MYR 1,550,000.00 |
Satisfied |
|
22 |
01/08/1991 |
N/A |
PUBLIC BANK BERHAD |
MYR 350,000.00 |
Satisfied |
|
23 |
01/08/1991 |
N/A |
PUBLIC BANK BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
24 |
10/10/1991 |
N/A |
PUBLIC BANK BERHAD |
MYR 3,000,000.00 |
Satisfied |
|
25 |
20/08/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
- |
Satisfied |
|
26 |
20/08/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
- |
Satisfied |
|
27 |
20/08/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BHD |
- |
Satisfied |
|
28 |
22/10/1993 |
DEED NEGATIVE PLEDGE |
MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
29 |
14/11/1994 |
N/A |
MALAYAN BANKING BERHAD |
MYR 8,000,000.00 |
Satisfied |
|
30 |
24/01/1997 |
DEPOSIT |
MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD |
MYR 12,000,000.00 |
Satisfied |
|
31 |
19/08/2009 |
N/A |
CREDIT GUARANTEE CORPORATION MALAYSIA BERHAD |
MYR 850,000.00 |
Satisfied |
|
32 |
19/08/2009 |
N/A |
CIMB BANK BERHAD |
MYR 850,000.00 |
Satisfied |
|
33 |
11/08/2011 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BHD |
- |
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
READY MADE MENSWEAR AND RELATED ACCESSORIES |
|
|
Branch |
: |
YES |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale and retail
of ready made menswear and related accessories.
The Subject sells clothings.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
0389644323 |
|
Current Telephone Number |
: |
03-89644323 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
M3, JALAN M16, ML 16, INDUSTRIAL PARK,43300,SERI KEMBANGAN,SELANGOR. |
|
Current Address |
: |
M3, JALAN M16, ML 16, INDUSTRIAL PARK, 43300 BALAKONG, SELANGOR,
MALAYSIA. |
|
Match |
: |
YES |
|
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.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
9.24% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
11.72% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The Subject's profit fell sharply because of
the high operating costs incurred. 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 |
: |
Unfavourable |
[ |
135 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
50 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
159 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
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 |
: |
Unfavourable |
[ |
0.54 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.18 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
1.94 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.03 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or when interest
rate rises, it may not be able to meet all its interest payment. The
Subject was highly geared, thus it had a high financial risk. The Subject was
dependent on loans to finance its business needs. In times of economic
downturn and / or high interest rate, the Subject will become less profitable
and competitive than other firms in the same industry, which are lowly
geared. This is because the Subject has to service the interest and to repay
the loan, which will erode part of its profits. The profits will fluctuate
depending on the Subject's turnover and the interest it needs to pay. |
||||||
|
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. Due to its weak liquidity position, the
Subject will be faced with problems in meeting all its short term obligations
if no short term loan is obtained or additional capital injected into the
Subject. If there is a fall in the Subject's profit or any increase in
interest rate, the Subject may not be able to generate sufficient cash-flow
to service its interest. The Subject's gearing level was high and its going
concern will be in doubt if there is no injection of additional shareholders'
funds in times of economic downturn and / or high interest rates. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
|
|
||||||
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 |
|
|
47510 : Retail sale of textiles in specialized stores |
|
|
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) |
|
ORLANDO CORPORATION 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 |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
27,159,391 |
27,653,906 |
25,048,611 |
18,916,793 |
12,377,731 |
|
Other Income |
200,239 |
160,732 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
27,359,630 |
27,814,638 |
25,048,611 |
18,916,793 |
12,377,731 |
|
Costs of Goods Sold |
(10,675,375) |
(10,694,182) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
16,684,255 |
17,120,456 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
542,605 |
966,569 |
1,434,487 |
1,211,231 |
(4,456,460) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
542,605 |
966,569 |
1,434,487 |
1,211,231 |
(4,456,460) |
|
Taxation |
(24,715) |
(20,877) |
(6,726) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
517,890 |
945,692 |
1,427,761 |
1,211,231 |
(4,456,460) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(572,675) |
(1,518,367) |
(2,946,128) |
(4,157,359) |
299,101 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(572,675) |
(1,518,367) |
(2,946,128) |
(4,157,359) |
299,101 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(54,785) |
(572,675) |
(1,518,367) |
(2,946,128) |
(4,157,359) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(54,785) |
(572,675) |
(1,518,367) |
(2,946,128) |
(4,157,359) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
578,757 |
355,631 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
578,757 |
355,631 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
583,942 |
472,610 |
- |
- |
- |
|
AMORTIZATION |
4,785 |
3,618 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
588,727 |
476,228 |
- |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
ORLANDO CORPORATION SDN.BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
6,703,073 |
5,973,190 |
1,618,513 |
1,184,881 |
1,175,398 |
|
Others |
28,476 |
25,699 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
28,476 |
25,699 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
6,731,549 |
5,998,889 |
1,618,513 |
1,184,881 |
1,175,398 |
|
Stocks |
10,081,984 |
9,443,086 |
- |
- |
- |
|
Trade debtors |
3,715,297 |
4,117,360 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
267,618 |
321,738 |
- |
- |
- |
|
Short term deposits |
4,484,815 |
3,195,181 |
- |
- |
- |
|
Amount due from holding company |
159,752 |
152,484 |
- |
- |
- |
|
Cash & bank balances |
36,159 |
362,152 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
18,745,625 |
17,592,001 |
16,749,625 |
14,776,925 |
5,476,597 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
25,477,174 |
23,590,890 |
18,368,138 |
15,961,806 |
6,651,995 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
4,663,968 |
4,492,030 |
- |
- |
- |
|
Other creditors & accruals |
3,807,729 |
4,083,691 |
- |
- |
- |
|
Hire purchase & lease creditors |
44,697 |
- |
- |
- |
- |
|
Bank overdraft |
1,491,414 |
- |
- |
- |
- |
|
Short term borrowings/Term loans |
200,381 |
159,414 |
- |
- |
- |
|
Other borrowings |
619,570 |
- |
- |
- |
- |
|
Bill & acceptances payable |
5,066,000 |
6,214,000 |
- |
- |
- |
|
Amounts owing to director |
8,000 |
413,020 |
- |
- |
- |
|
Provision for taxation |
6,000 |
2,962 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
15,907,759 |
15,365,117 |
14,758,028 |
11,821,120 |
9,134,872 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,837,866 |
2,226,884 |
1,991,597 |
2,955,805 |
(3,658,275) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
9,569,415 |
8,225,773 |
3,610,110 |
4,140,686 |
(2,482,877) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,578,104 |
5,578,104 |
4,878,104 |
4,878,104 |
1,250,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,578,104 |
5,578,104 |
4,878,104 |
4,878,104 |
1,250,000 |
|
RESERVES |
|||||
|
Share premium |
83,710 |
83,710 |
83,710 |
83,710 |
83,710 |
|
Retained profit/(loss) carried forward |
(54,785) |
(572,675) |
(1,518,367) |
(2,946,128) |
(4,157,359) |
|
Others |
- |
- |
166,663 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
28,925 |
(488,965) |
(1,267,994) |
(2,862,418) |
(4,073,649) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
5,607,029 |
5,089,139 |
3,610,110 |
2,015,686 |
(2,823,649) |
|
Long term loans |
3,962,386 |
3,136,634 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
3,962,386 |
3,136,634 |
- |
2,125,000 |
340,772 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
9,569,415 |
8,225,773 |
3,610,110 |
4,140,686 |
(2,482,877) |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
ORLANDO CORPORATION SDN.BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
4,520,974 |
3,557,333 |
- |
- |
- |
|
Net Liquid Funds |
(2,036,440) |
(2,656,667) |
- |
- |
- |
|
Net Liquid Assets |
(7,244,118) |
(7,216,202) |
1,991,597 |
2,955,805 |
(3,658,275) |
|
Net Current Assets/(Liabilities) |
2,837,866 |
2,226,884 |
1,991,597 |
2,955,805 |
(3,658,275) |
|
Net Tangible Assets |
9,540,939 |
8,200,074 |
3,610,110 |
4,140,686 |
(2,482,877) |
|
Net Monetary Assets |
(11,206,504) |
(10,352,836) |
1,991,597 |
830,805 |
(3,999,047) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
1,121,362 |
1,322,200 |
- |
- |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
1,710,089 |
1,798,428 |
- |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
11,384,448 |
9,510,048 |
- |
- |
- |
|
Total Liabilities |
19,870,145 |
18,501,751 |
14,758,028 |
13,946,120 |
9,475,644 |
|
Total Assets |
25,477,174 |
23,590,890 |
18,368,138 |
15,961,806 |
6,651,995 |
|
Net Assets |
9,569,415 |
8,225,773 |
3,610,110 |
4,140,686 |
(2,482,877) |
|
Net Assets Backing |
5,607,029 |
5,089,139 |
3,610,110 |
2,015,686 |
(2,823,649) |
|
Shareholders' Funds |
5,607,029 |
5,089,139 |
3,610,110 |
2,015,686 |
(2,823,649) |
|
Total Share Capital |
5,578,104 |
5,578,104 |
4,878,104 |
4,878,104 |
1,250,000 |
|
Total Reserves |
28,925 |
(488,965) |
(1,267,994) |
(2,862,418) |
(4,073,649) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.28 |
0.23 |
- |
- |
- |
|
Liquid Ratio |
0.54 |
0.53 |
- |
- |
- |
|
Current Ratio |
1.18 |
1.14 |
1.13 |
1.25 |
0.60 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
135 |
125 |
- |
- |
- |
|
Debtors Ratio |
50 |
54 |
- |
- |
- |
|
Creditors Ratio |
159 |
153 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
2.03 |
1.87 |
- |
- |
- |
|
Liabilities Ratio |
3.54 |
3.64 |
4.09 |
6.92 |
(3.36) |
|
Times Interest Earned Ratio |
1.94 |
3.72 |
- |
- |
- |
|
Assets Backing Ratio |
1.71 |
1.47 |
0.74 |
0.85 |
(1.99) |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.00 |
3.50 |
5.73 |
6.40 |
(36.00) |
|
Net Profit Margin |
1.91 |
3.42 |
5.70 |
6.40 |
(36.00) |
|
Return On Net Assets |
11.72 |
16.07 |
39.74 |
29.25 |
179.49 |
|
Return On Capital Employed |
10.07 |
16.02 |
39.74 |
29.25 |
179.49 |
|
Return On Shareholders' Funds/Equity |
9.24 |
18.58 |
39.55 |
60.09 |
157.83 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.50 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.75.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.