|
Report No. : |
341435 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CJ POLYMERS SDN.
BHD. |
|
|
|
|
Registered Office : |
44-2, Jalan 4/18A, Taman Mastiara, Batu 5 1/2, Off Jalan Ipoh, 51200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
16.02.2001 |
|
|
|
|
Com. Reg. No.: |
539468-V |
|
|
|
|
Legal Form : |
Exempt Private (Limited by Share) |
|
|
|
|
Line of Business : |
Procurement and Trading of Resin, Polymers, Textile, Petrochemical,
and Fertilizer. |
|
|
|
|
No. of Employees : |
20 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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. |
: |
539468-V |
||||
|
COMPANY
NAME |
: |
CJ
POLYMERS SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
16/02/2001 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
44-2,
JALAN 4/18A, TAMAN MASTIARA, BATU 5 1/2, OFF JALAN IPOH, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
B-6-16,
VOX SOUTHGATE, JALAN DUA, OFF JALAN CHAN SOW LIN, 55200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-92213000 |
||||
|
FAX.NO. |
: |
03-92213006 |
||||
|
EMAIL |
: |
SALES@CJPOLYMERS.COM |
||||
|
WEB
SITE |
: |
WWW.CJPOLYMERS.COM |
||||
|
CONTACT
PERSON |
: |
NG
SOO HAN ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
46693
|
||||
|
PRINCIPAL
ACTIVITY |
: |
PROCUREMENT
AND TRADING OF RESIN, POLYMERS, TEXTILE, PETROCHEMICAL, AND FERTILIZER |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
4,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
20
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
HIGH |
||||
|
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) procurement and trading of resin, polymers, textile, petrochemical,
and fertilizer.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
01/04/2013 |
MYR
5,000,000.00 |
MYR
4,000,000.00 |
|
31/03/2010 |
MYR
5,000,000.00 |
MYR
2,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MS.
NG SOO HAN |
5,
JALAN SHB 5, SUBANG HEIGHTS, 47500 SUBANG JAYA, SELANGOR, MALAYSIA. |
710603-06-5054
A1905688 |
2,000,000.00 |
50.00 |
|
MS.
LOK PEY LING |
87,
JALAN JALIL PERKASA 19, TAMAN ESPLANAD, BUKIT JALIL, 57000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
731129-01-5094
A2568082 |
2,000,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
4,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
Status |
(%) |
As
At |
|
852819T |
MALAYSIA |
CJ
PETROCHEMICALS SDN. BHD. |
- |
100.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
SIM CHIN HU |
|
Address |
: |
5,
JALAN SHB 5, SUBANG HEIGHTS, 47500 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
A1907114 |
|
New
IC No |
: |
711010-03-5081 |
|
Date
of Birth |
: |
10/10/1971 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
05/03/2014 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
KERK HAN MENG |
|
Address |
: |
87,
JALAN JALIL PERKASA 19, TAMAN ESPLANAD, BUKIT JALIL, 57000 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC
/ PP No |
: |
A2383713 |
|
New
IC No |
: |
730320-01-5127 |
|
Date
of Birth |
: |
20/03/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
05/03/2014 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
KERK
HAN MENG |
|
Position |
: |
MANAGING
DIRECTOR |
|
|
2)
|
Name
of Subject |
: |
NG
SOO HAN |
|
Position |
: |
DIRECTOR |
|
|
3)
|
Name
of Subject |
: |
LIM
YEE ENG |
|
Position |
: |
ACCOUNT
MANAGER |
|
|
4)
|
Name
of Subject |
: |
ERICA
CHUO |
|
Position |
: |
MARKETING
MANAGER |
AUDITOR
|
|
Auditor |
: |
YEH
& CO. |
|
Auditor'
Address |
: |
44-2,
JALAN 4/18A, TAMAN MASTIARA, BATU 5 1/2, OFF JALAN IPOH, WILAYAH PERSEKUTUAN,
MALAYSIA. |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
MR.
WONG NGIA MING |
|
IC
/ PP No |
: |
K0095414 |
|
|
New
IC No |
: |
660202-13-5557 |
|
|
Address |
: |
42,
JALAN PUTERI 8/3, BANDAR PUTERI PUCHONG, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
HSBC
BANK MALAYSIA BHD |
|
2)
|
Name |
: |
STANDARD
CHARTERED BANK MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
10/11/2008 |
OPEN
CHARGE |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
2 |
10/11/2008 |
OPEN
CHARGE |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
3 |
10/11/2008 |
OPEN
CHARGE |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
4 |
24/11/2008 |
OPEN
CHARGE |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
5 |
21/10/2010 |
DEED
OF ASSIGNMENT |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
6 |
20/04/2011 |
DEED
OF ASSIGNMENT |
HONG
LEONG ISLAMIC BANK BERHAD |
MYR
1,993,685.88 |
Unsatisfied |
|
7 |
29/11/2012 |
N/A |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
8 |
27/01/2014 |
N/A |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
9 |
19/02/2014 |
N/A |
STANDARD
CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
10 |
07/01/2015 |
N/A |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
|||||
|
SOURCES
OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
50% |
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Import
Countries |
: |
CHINA,VIETNAM,KOREA |
|||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
50% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
30
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Type
of Customer |
: |
PLASTIC
MANUFACTURER,OIL & GAS INDUSTRIES,DEPARTMENTAL STORES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
RESIN,
POLYMERS, TEXTILE, PETROCHEMICAL, AND FERTILIZER |
|
|
Ownership
of premises |
: |
LEASED/RENTED |
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2012 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
20 |
25 |
15 |
15 |
13 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) procurement and
trading of resin, polymers, textile, petrochemical, and fertilizer.
The Subject is an international distribution and trading company that
established since 2001. It is a renowned central hub for worldwide procurement
and marketing of petrochemicals, polymers and textile raw materials. Our
diverse range of suppliers assures continuity of supply to our customers.
The Subject assist the customers in international marketing, procurement of
commodities and sales bases both internationally and domestically.
The Subject also constantly exploring new products and developments to add
value for our customers’ businesses.
The role as product sourcing company is to assist the customers obtain raw
material like petrochemical, fertilizer, yarns and others to source for their
business product output.
The Subject provides practical and professional assistance in marketing and
sales to our customers in selling their products. In terms of logistics,
customers can be assured with our expertise in handling and shipping their
cargoes to the destination safely and on time.
The Subject also have a team of advisers to give advice and support to
customers for documentations procedures needed when running businesses
internationally.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
0392213000 |
|
Current
Telephone Number |
: |
03-92213000 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
B-6-16,
VOX SOUTHGATE, JALAN DUA, OFF JALAN CHAN SOW LIN,55200,KUALA LUMPUR,WILAYAH
PERSEKUTUAN. |
|
Current
Address |
: |
B-6-16,
VOX SOUTHGATE, JALAN DUA, OFF JALAN CHAN SOW LIN, 55200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, 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 |
|
|
46693
: Wholesale of plastic materials in primary forms |
|
|
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) |
|
CJ
POLYMERS SDN. BHD. |
|
Financial
Year End |
2010-03-31 |
|
Months |
12 |
|
Consolidated
Account |
GROUP |
|
Audited
Account |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
|
Financial
Type |
FULL |
|
Currency |
MYR |
|
TURNOVER |
83,988,755 |
|
Other
Income |
60,502 |
|
---------------- |
|
|
Total
Turnover |
84,049,257 |
|
Costs
of Goods Sold |
(79,630,463) |
|
---------------- |
|
|
Gross
Profit |
4,418,794 |
|
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,070,438 |
|
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,070,438 |
|
Taxation |
(369,552) |
|
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
700,886 |
|
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As
previously reported |
4,707,108 |
|
---------------- |
|
|
As
restated |
4,707,108 |
|
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
5,407,994 |
|
CAPITALISATION
FOR BONUS ISSUES |
(1,000,000) |
|
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
4,407,994 |
|
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
Others |
305,095 |
|
---------------- |
|
|
305,095 |
|
|
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
219,621 |
|
---------------- |
|
|
219,621 |
|
|
============= |
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
CJ
POLYMERS SDN. BHD. |
|
ASSETS
EMPLOYED: |
|
|
FIXED
ASSETS |
996,136 |
|
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
996,136 |
|
Trade
debtors |
4,884,209 |
|
Other
debtors, deposits & prepayments |
1,632,487 |
|
Cash
& bank balances |
1,381,462 |
|
Others |
3,513 |
|
---------------- |
|
|
TOTAL
CURRENT ASSETS |
7,901,671 |
|
---------------- |
|
|
TOTAL
ASSET |
8,897,807 |
|
============= |
|
|
CURRENT
LIABILITIES |
|
|
Trade
creditors |
1,315,675 |
|
Other
creditors & accruals |
577,932 |
|
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
1,893,607 |
|
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
6,008,064 |
|
---------------- |
|
|
TOTAL
NET ASSETS |
7,004,200 |
|
============= |
|
|
SHARE
CAPITAL |
|
|
Ordinary
share capital |
2,000,000 |
|
---------------- |
|
|
TOTAL
SHARE CAPITAL |
2,000,000 |
|
Retained
profit/(loss) carried forward |
4,407,994 |
|
---------------- |
|
|
TOTAL
RESERVES |
4,407,994 |
|
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
6,407,994 |
|
Long
term loans |
596,206 |
|
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
596,206 |
|
---------------- |
|
|
7,004,200 |
|
|
============= |
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
CJ
POLYMERS SDN. BHD. |
|
TYPES
OF FUNDS |
|
|
Cash |
1,381,462 |
|
Net
Liquid Funds |
1,381,462 |
|
Net
Liquid Assets |
6,008,064 |
|
Net
Current Assets/(Liabilities) |
6,008,064 |
|
Net
Tangible Assets |
7,004,200 |
|
Net
Monetary Assets |
5,411,858 |
|
PROFIT
& LOSS ITEMS |
|
|
Earnings
Before Interest & Tax (EBIT) |
1,375,533 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,595,154 |
|
BALANCE
SHEET ITEMS |
|
|
Total
Borrowings |
596,206 |
|
Total
Liabilities |
2,489,813 |
|
Total
Assets |
8,897,807 |
|
Net
Assets |
7,004,200 |
|
Net
Assets Backing |
6,407,994 |
|
Shareholders'
Funds |
6,407,994 |
|
Total
Share Capital |
2,000,000 |
|
Total
Reserves |
4,407,994 |
|
LIQUIDITY
(Times) |
|
|
Cash
Ratio |
0.73 |
|
Liquid
Ratio |
4.17 |
|
Current
Ratio |
4.17 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
Debtors
Ratio |
21 |
|
Creditors
Ratio |
6 |
|
SOLVENCY
RATIOS (Times) |
|
|
Gearing
Ratio |
0.09 |
|
Liabilities
Ratio |
0.39 |
|
Times
Interest Earned Ratio |
4.51 |
|
Assets
Backing Ratio |
3.50 |
|
PERFORMANCE
RATIO (%) |
|
|
Operating
Profit Margin |
1.27 |
|
Net
Profit Margin |
0.83 |
|
Return
On Net Assets |
19.64 |
|
Return
On Capital Employed |
19.64 |
|
Return
On Shareholders' Funds/Equity |
10.94 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.93 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.