|
|
|
MIRA INFORM REPORT
|
Report No. : |
501048 |
|
Report Date : |
03.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN.
BHD. |
|
|
|
|
Formerly Known As : |
TOPRANK CORPORATION SDN BHD |
|
|
|
|
Registered Office : |
Lot 22, 1st Floor, Jalan Teknologi, Taman Sains Selangor
1, Kota Damansara, 47810 Petaling Jaya, Selangor, Malaysia |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
15.04.1981 |
|
|
|
|
Com. Reg. No.: |
69599-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the
manufacturing of control relay panels for transformers, switchgears,
feeder pillars, compact substations, ring main units and its related product,
provide electrical engineering, integrated engineering services (turnkey). |
|
|
|
|
No. of Employees : |
300 (2018) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, an upper middle-income country, has transformed itself since the 1970s from a producer of raw materials into a multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move further up the value-added production chain by attracting investments in high technology, knowledge-based industries and services. NAJIB's Economic Transformation Program 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. Domestic demand continues to anchor economic growth, supported mainly by private consumption, which accounts for 53% of GDP. Nevertheless, exports - particularly of electronics, oil and gas, and palm oil - remain a significant driver of the economy. In 2015, gross exports of goods and services were equivalent to 73% of GDP. The oil and gas sector supplied about 22% of government revenue in 2015, down significantly from prior years amid a decline in commodity prices and diversification of government revenues. Malaysia has embarked on a fiscal reform program aimed at achieving a balanced budget by 2020, including rationalization of subsidies and the 2015 introduction of a 6% value added tax. Sustained low commodity prices throughout the period not only strained government finances, but also shrunk Malaysia’s current account surplus and weighed heavily on the Malaysian ringgit, which was among the region’s worst performing currencies during 2013-17. The ringgit hit new lows following the US presidential election amid a broader selloff of emerging market assets.
Bank Negara Malaysia (the central bank) maintains adequate foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments, although it remains vulnerable to volatile global capital flows. In order to increase Malaysia’s competitiveness, Prime Minister 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, policies that favor and advance the economic condition of ethnic Malays.
Malaysia signed the 12-nation Trans-Pacific Partnership (TPP) free trade agreement in February 2016, although the future of the TPP remains unclear following the US withdrawal from the agreement. Along with nine other ASEAN members, Malaysia established the ASEAN Economic Community in 2015, which aims to advance regional economic integration.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
69599-U |
||||
|
GST NO. |
: |
000444608512 |
||||
|
COMPANY NAME |
: |
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
||||
|
FORMER NAME |
: |
TOPRANK CORPORATION SDN BHD (28/06/2011) |
||||
|
INCORPORATION DATE |
: |
15/04/1981 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 22, 1ST FLOOR, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA
DAMANSARA, 47810 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 22, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA DAMANSARA,
47810 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-61457200 |
||||
|
FAX.NO. |
: |
03-61457300 |
||||
|
EMAIL |
: |
INFO@TOSHIBA-TTDA.COM |
||||
|
WEB SITE |
: |
WWW.TOSHIBA-TTDA.COM |
||||
|
CONTACT PERSON |
: |
EISUKE SHODA ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
279 71102 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF CONTROL RELAY PANELS FOR TRANSFORMERS,
SWITCHGEARS, FEEDER PILLARS, COMPACT SUBSTATIONS, RING MAIN UNITS AND ITS RELATED
PRODUCT, PROVIDE ELECTRICAL ENGINEERING, INTEGRATED ENGINEERING SERVICES
(TURNKEY) |
||||
|
AUTHORISED CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 5,194,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 255,184,215 [2016] |
||||
|
NET WORTH |
: |
MYR 4,201,582 [2016] |
||||
|
STAFF STRENGTH |
: |
300 [2018] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
STRONG 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 shall have a minimum one director. 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)
manufacturing of control relay panels for
transformers, switchgears, feeder pillars, compact substations,
ring main units and its related product, provide electrical engineering,
integrated engineering services (turnkey).
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The immediate holding company of the Subject is TOSHIBA
CORPORATION, a company incorporated in JAPAN.
Former Address(es)
|
Address |
As At Date |
|
21B, JALAN SS 2/64, 47300, SELANGOR, MALAYSIA |
14/09/1997 |
|
1, 2ND FLOOR, JALAN SS23/11, TAMAN SEA, 47400, SELANGOR,
MALAYSIA |
15/02/2013 |
|
NO.1, JALAN SS23/11, TAMAN SEA, 47400, SELANGOR, MALAYSIA |
28/08/2015 |
|
55, MAIN ROAD, BATANG BERJUNTAI, 45600, SELANGOR, MALAYSIA |
31/03/1986 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
29/03/2016 |
MYR 10,000,000.00 |
MYR 5,194,000.00 |
|
27/03/2014 |
MYR 5,000,000.00 |
MYR 2,870,000.00 |
|
12/08/1994 |
MYR 5,000,000.00 |
MYR 2,000,000.00 |
|
05/05/1993 |
MYR 1,000,000.00 |
MYR 900,000.00 |
|
03/09/1990 |
MYR 1,000,000.00 |
MYR 250,000.00 |
|
01/04/1986 |
MYR 250,000.00 |
MYR 153,002.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TOSHIBA CORPORATION |
1-1, SHIBAURA 1-CHOME, MINATO-KU, TOKYO 105-8001 ,JAPAN |
XLZ00217821 |
5,194,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,194,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
GLOBAL KIARA HOLDINGS SDN. BHD. |
MALAYSIA |
393758T |
500,000.00 |
N/A |
|
LEONG AH LAN |
N/A |
521116-10-5570 |
300,000.00 |
N/A |
|
YONG AH HUAT |
MALAYSIA |
521030-05-5197 |
1,700,000.00 |
N/A |
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
312645T |
MALAYSIA |
AMPSTON CONTROL & AUTOMATION SDN. BHD. |
Disolved |
100.00 |
23/02/2018 |
|
233233H |
MALAYSIA |
AMPSTON ELECTRIC CORPN. SDN. BHD. |
Disolved |
100.00 |
23/02/2018 |
|
202520T |
MALAYSIA |
S & S POWER CORPORATION SDN. BHD. |
- |
40.25 |
23/02/2018 |
|
360116W |
MALAYSIA |
TOPRANK ELECTRIC SDN. BHD. |
Disolved |
100.00 |
23/02/2018 |
|
311089X |
MALAYSIA |
TOPRANK ENGINEERS SDN. BHD. |
Disolved |
100.00 |
23/02/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
SEIJI TAKAGAKI |
|
Address |
: |
C2-13-2, SOLARIS DUTAMAS, JALAN DUTAMAS 1, 50480 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
A-15-4 MONT KIARA ASTANA, JALAN KIARA 2, MONT KIARA, 50480 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TZ1072167 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
18/06/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
69599U |
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
Director |
18/06/2013 |
0.00 |
- |
MYR(70,899,966.00) |
2016 |
- |
23/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. EISUKE SHODA |
|
Address |
: |
A-17-6, MONT KIARA AMAN, JALAN KIARA 2, MONT KIARA, 50480 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TZ1066456 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
16/07/2014 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
69599U |
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
Director |
16/07/2014 |
0.00 |
- |
MYR(70,899,966.00) |
2016 |
- |
23/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MASATOMO HIRAGA |
|
Address |
: |
28-36-D (GURNEY BEACH RESORT),, PERSIARAN GURNEY,, 10250
GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
MZ1124787 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
15/11/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
1080124X |
TOSHIBA LOGISTICS MALAYSIA SDN. BHD. |
Director |
01/10/2014 |
0.00 |
- |
MYR131,051.00 |
2017 |
- |
23/02/2018 |
|
2 |
69599U |
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
Director |
15/11/2016 |
0.00 |
- |
MYR(70,899,966.00) |
2016 |
- |
23/02/2018 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
YONG TZEN WAE |
10,JALAN SS3/82, 47300PJ SELANGOR |
801017-14-6197 |
07/06/2011 |
02/05/2012 |
|
YONG HEE HUA |
55,MAIN ROAD, BATANG BERJUNTAI, SELANGOR, BATANG BERJUNTAI,
SELANGOR, MALAYSIA |
3624865 |
15/04/1981 |
05/04/1995 |
|
TEH BEE CHOO |
63,JALAN D, TAMAN BATU, KUALA LUMPUR, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
630208-08-5602 |
08/12/2000 |
15/09/2003 |
|
RYOSUKE SASAKI |
17-30-2, MONT KIARA PALMA, JALAN KIARA, MONT KIARA, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
MS8078030 |
27/09/2011 |
24/09/2013 |
|
RAZENAN BIN HANAFFI |
38,JALAN 18/6, SEKSYEN 16, PETALING JAYA,SELANGOR, PETALING
JAYA, SELANGOR, MALAYSIA |
480530-07-5217 |
08/12/2000 |
30/04/2003 |
|
NOBUYUKI MATSUURA |
33-21-7, SRI PENAGA CONDOMINIUM, JALAN MEDAN SERAI, BUKIT
BANDARAYA, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TK1794054 |
07/06/2011 |
18/06/2013 |
|
MAT ALI BIN A.LATIFF |
NO 26, JALAN SS 14/8H, SUBANG JAYA, SUBANG JAYA, SELANGOR,
MALAYSIA |
480902-02-5203 |
08/12/2000 |
30/04/2003 |
|
KUNIHARU KATSUNO |
17-31-4, MAJESTIC TOWER, MONT KIARA PALMA, JALAN KIARA, MONT
KIARA, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TH8557829 |
24/09/2013 |
16/07/2014 |
|
FUMIHIRO OKADA |
A-21-4 KIARAMAS SUTERA CONDOMINIUM, 7 JALAN DESA KIARA, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TG4345499 |
07/06/2011 |
27/09/2011 |
|
HIROYUKI MOGI |
2-1-2413, KANAMACHI 6-CHOME, KATSUSHIKA-KU, TOKYO, JAPAN |
TH3670704 |
01/09/2015 |
22/09/2016 |
|
YONG AH HUAT |
10,JALAN SS 3/82, PETALING JAYA, SELANGOR DARUL EHSAN., PETALING
JAYA, SELANGOR, MALAYSIA |
521030-05-5197 |
15/04/1981 |
27/07/2016 |
|
YUKI UCHIKURA |
A-16-2, TIFFANI KIARA, CHANGKAT DUTA KIARA, MONT KIARA, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
TZ1134754 |
16/07/2014 |
15/11/2016 |
|
LEONG AH LAN |
NO. 3, JALAN PJU 1A/36,, ARA DAMANSARA,, MALAYSIA |
521116-10-5570 |
11/09/2012 |
27/07/2016 |
|
CHE ANI BIN AROPE TAN SRI DATO\' HAJI (DR). |
1,JALAN BUNGA MATAHARI 2/3, SHAH ALAM, SELANGOR, SHAH ALAM,
SELANGOR, MALAYSIA |
320517-07-5105 |
01/07/2004 |
11/09/2012 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
EISUKE SHODA |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
LESLIE YAP & CO. |
|
Auditor' Address |
: |
54,TKT.1,JLN.SS 21/58, DAMANSARA, 47400 P.J., MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. TAN SWEE PENG |
|
IC / PP No |
: |
A1123317 |
|
|
New IC No |
: |
681030-08-5188 |
|
|
Address |
: |
NO.22,LORONG SS5C/1F, PETALING JAYA, SELANGOR., 47301 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
AFFIN BANK BERHAD |
|
2) |
Name |
: |
AMBANK (M) BHD |
|
3) |
Name |
: |
EXPORT-IMPORT BANK OF MALAYSIA BHD |
|
4) |
Name |
: |
PUBLIC BANK BHD |
|
5) |
Name |
: |
STANDARD CHARTERED BANK MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
31/10/1986 |
N/A |
MALAYAN BANKING BERHAD |
MYR 200,000.00 |
Satisfied |
|
2 |
09/01/1990 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 370,000.00 |
Satisfied |
|
3 |
06/01/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 780,000.00 |
Satisfied |
|
4 |
06/01/1992 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 410,000.00 |
Satisfied |
|
5 |
07/06/1993 |
N/A |
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
6 |
11/05/1994 |
N/A |
MALAYAN BANKING BERHAD |
MYR 129,000.00 |
Satisfied |
|
7 |
23/08/1994 |
N/A |
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR 2,250,000.00 |
Satisfied |
|
8 |
29/05/1995 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 850,000.00 |
Satisfied |
|
9 |
29/05/1995 |
N/A |
UNITED OVERSEAS BANK MALAYSIA BERHAD |
MYR 850,000.00 |
Satisfied |
|
10 |
09/03/1996 |
N/A |
MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD |
MYR 2,250,000.00 |
Satisfied |
|
11 |
24/11/1997 |
N/A |
MALAYAN BANKING BERHAD |
MYR 261,000.00 |
Satisfied |
|
12 |
23/04/2003 |
N/A |
AMBANK (M) BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
13 |
01/07/2003 |
N/A |
AFFIN BANK BERHAD |
- |
Satisfied |
|
14 |
26/08/2003 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 640,000.00 |
Satisfied |
|
15 |
18/11/2003 |
N/A |
EXPORTIMPORT BANK OF MALAYSIA BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
16 |
31/01/2005 |
N/A |
AFFIN BANK BERHAD |
MYR 1,900,000.00 |
Satisfied |
|
17 |
25/02/2005 |
ASSIGNMENT OF CONTRACT PROCEEDS |
PUBLIC BANK BERHAD |
MYR 700,000.00 |
Satisfied |
|
18 |
08/03/2005 |
N/A |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 3,570,000.00 |
Satisfied |
|
19 |
02/06/2005 |
N/A |
AFFIN BANK BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
20 |
20/12/2005 |
N/A |
AFFIN BANK BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
21 |
20/04/2006 |
MEMO OF DEPOSIT OF FIXED DEPOSIT RECEIPT |
AMBANK (M) BERHAD |
- |
Satisfied |
|
22 |
31/10/2006 |
N/A |
AFFIN BANK BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
23 |
31/10/2006 |
N/A |
AFFIN BANK BERHAD |
MYR 5,000,000.00 |
Satisfied |
|
24 |
23/03/2010 |
OPEN CHARGE |
MALAYSIA DEBT VENTURES BERHAD |
- |
Satisfied |
|
25 |
23/03/2010 |
OPEN CHARGE |
MALAYSIA DEBT VENTURES BERHAD |
- |
Satisfied |
|
26 |
24/05/2010 |
N/A |
AMBANK (M) BERHAD |
- |
Satisfied |
|
27 |
24/05/2010 |
N/A |
AMBANK (M) BERHAD |
- |
Satisfied |
|
28 |
22/11/2010 |
N/A |
AMBANK (M) BERHAD |
- |
Satisfied |
|
31 |
11/01/2011 |
N/A |
AMBANK (M) BERHAD |
- |
Satisfied |
|
29 |
14/01/2011 |
N/A |
MALAYAN BANKING BERHAD |
MYR 3,800,000.00 |
Satisfied |
|
30 |
14/01/2011 |
N/A |
MALAYAN BANKING BERHAD |
MYR 3,800,000.00 |
Satisfied |
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No winding up petition was found in our databank.
There is/are CLOSED litigation case(s) on the Subject in our database as below:
- 2 case(s) filed in year 2017
CRIMINAL
CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No criminal record was found in our databank.
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
CRIMINAL
RECORDS CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record 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 listed by our customers and debtors that have been
placed or assigned to us for collection.
No defaulter 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 |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
||
|
Services |
: |
|
||
|
Product Brand Name |
: |
|
||
|
Award |
: |
|
||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA THE ELECTRICAL AND ELECTRONICS ASSOCIATION OF MALAYSIA (TEEAM) MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
||
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
2013 |
|||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
300 |
300 |
300 |
300 |
200 |
200 |
|||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of control
relay panels for transformers, switchgears, feeder pillars, compact
substations, ring main units and its related product, provide electrical
engineering, integrated engineering services (turnkey).
The Subject is a manufacturer of power transmission and distibution equipments.
The Subject produces a wide range of products including ring main unit, feeder
pillar, transformers, instrument panels, mini feeder pillar switchboard and
others.
Besides, the Subject also undertakes transmission and distribution turnkey
projects.
The production site features a range of state-of-the-art facilities, including
those for metal fabrication, electro static painting and a wide range of
sophisticated test instruments.
RECENT
DEVELOPMENT
|
We have checked with the Malaysian National News Agency's (BERNAMA) database,
but no recent development was noted during the time of inspection.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
60 3 6145 7200 |
|
Current Telephone Number |
: |
03-61457200 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
LLOT22, JALAN TEKNOLIGI, TAMAN SAINS SELANGOR 1,KOTA DAMANSARA,47810
PETALING JAYA,SELANGOR DARUL EHSAN,MALASIYA |
|
Current Address |
: |
LOT 22, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA DAMANSARA,
47810 PETALING JAYA, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we have contacted one of the staff from the Subject and she
provided some information.
The address is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(1,687.42%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(1,658.77%) |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the
years.Higher losses before tax during the year could be due to the higher
operating costs incurred. The Subject's unfavourable returns on shareholders'
funds indicate the management's inefficiency in utilising its assets to
generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
70 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
93 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The Subject's
debtors ratio was high. The Subject should tighten its credit control and
improve its collection period. 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 |
: |
Unfavourable |
[ |
0.77 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.87 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 |
[ |
(67.31 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.21 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate sufficient
income to service its interest. If the situation does not improve, the
Subject may be vulnerable to default in servicing the interest. The Subject
was lowly geared thus it had a low financial risk. The Subject was mainly
financed by its shareholders' funds and internally generated funds. In times
of economic slowdown / downturn, the Subject being a lowly geared company,
will be able to compete better than those companies which are highly geared
in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover increased its profits however
showed a reverse trend. The losses could be due to the management's failure
to maintain its competitiveness in the market. 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. The Subject's interest cover was negative,
indicating that it did not generate sufficient income to service its
interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. The Subject as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : LIMITED |
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population ( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.3 |
5.4 |
|
Domestic Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption ( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment ( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption ( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment ( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
Balance of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation ( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net International Reserves ( MYR Billion ) |
417 |
390 |
391 |
- |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
4.00 |
3.50 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
2.10 |
2.00 |
1.90 |
- |
- |
|
Average Base Lending Rate ( % ) |
6.85 |
6.79 |
6.81 |
6.73 |
- |
|
Business Loans Disbursed( % ) |
18.6 |
2.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
43,486.6 |
43,435.0 |
- |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
49,203 |
45,658 |
43,255 |
- |
- |
|
Registration of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
- |
- |
|
Liquidation of Companies ( No. ) |
11,099 |
7,066 |
- |
- |
- |
|
Liquidation of Companies ( % ) |
(19.5) |
(36.3) |
- |
- |
- |
|
Registration of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
- |
- |
|
Registration of New Business ( % ) |
1.0 |
9.0 |
3.0 |
- |
- |
|
Business Dissolved ( No. ) |
21,436 |
- |
- |
- |
- |
|
Business Dissolved ( % ) |
18.0 |
- |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit Cards Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
Individual Bankruptcy ( % ) |
1.7 |
(17.4) |
- |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Agriculture |
2.0 |
1.3 |
(5.1) |
5.6 |
2.4 |
|
Palm Oil |
6.7 |
7.0 |
(12.7) |
11.8 |
- |
|
Rubber |
(10.4) |
(11.0) |
(6.3) |
10.8 |
- |
|
Forestry & Logging |
(4.2) |
(7.2) |
(3.0) |
(15.0) |
- |
|
Fishing |
2.7 |
2.1 |
2.2 |
0.2 |
- |
|
Other Agriculture |
6.2 |
6.0 |
5.1 |
2.4 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
303.8 |
343.7 |
420.3 |
- |
- |
|
% of Industry Non-Performing Loans |
1.4 |
1.5 |
1.8 |
- |
- |
|
Mining |
3.3 |
5.3 |
2.2 |
0.5 |
0.9 |
|
Oil & Gas |
3.0 |
3.5 |
4.5 |
- |
- |
|
Other Mining |
46.6 |
47.1 |
42.6 |
- |
- |
|
Industry Non-performing Loans ( MYR Million ) |
63.5 |
180.1 |
190.0 |
- |
- |
|
% of Industry Non-performing Loans |
0.3 |
0.8 |
0.8 |
- |
- |
|
Manufacturing # |
6.1 |
4.9 |
4.4 |
5.5 |
5.3 |
|
Exported-oriented Industries |
7.1 |
6.5 |
4.3 |
6.5 |
- |
|
Electrical & Electronics |
11.8 |
9.2 |
6.8 |
9.3 |
- |
|
Rubber Products |
(1.3) |
5.1 |
5.0 |
6.9 |
- |
|
Wood Products |
7.8 |
7.0 |
7.8 |
7.3 |
- |
|
Textiles & Apparel |
10.8 |
7.5 |
7.5 |
7.4 |
- |
|
Domestic-oriented Industries |
7.7 |
4.7 |
3.4 |
6.2 |
- |
|
Food, Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
11.0 |
- |
|
Chemical & Chemical Products |
1.4 |
3.5 |
4.5 |
3.5 |
- |
|
Plastic Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron & Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated Metal Products |
2.8 |
4.6 |
5.6 |
4.6 |
- |
|
Non-metallic Mineral |
6.9 |
6.8 |
6.3 |
5.4 |
- |
|
Transport Equipment |
14.4 |
5.2 |
(3.1) |
4.7 |
- |
|
Paper & Paper Products |
4.7 |
3.2 |
5.4 |
5.8 |
- |
|
Crude Oil Refineries |
13.0 |
14.3 |
13.7 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
5,730.8 |
4,243.7 |
4,214.1 |
- |
- |
|
% of Industry Non-Performing Loans |
25.6 |
19.0 |
18.5 |
- |
- |
|
Construction |
11.7 |
8.2 |
7.4 |
7.6 |
7.5 |
|
Industry Non-Performing Loans ( MYR Million ) |
1,666.4 |
1,638.0 |
1,793.9 |
- |
- |
|
% of Industry Non-Performing Loans |
7.5 |
7.3 |
7.9 |
- |
- |
|
Services |
6.6 |
5.1 |
5.6 |
5.9 |
5.8 |
|
Electric, Gas & Water |
3.8 |
3.6 |
5.4 |
2.5 |
2.6 |
|
Transport, Storage & Communication |
7.70 |
7.55 |
6.85 |
7.35 |
7.30 |
|
Wholesale, Retail, Hotel & Restaurant |
7.70 |
6.65 |
6.65 |
7.05 |
6.65 |
|
Finance, Insurance & Real Estate |
5.15 |
2.90 |
4.70 |
5.70 |
5.90 |
|
Government Services |
6.3 |
4.0 |
4.9 |
4.4 |
4.5 |
|
Other Services |
4.8 |
4.7 |
4.8 |
5.3 |
5.3 |
|
Industry Non-Performing Loans ( MYR Million ) |
5,373.5 |
6,806.6 |
7,190.6 |
- |
- |
|
% of Industry Non-Performing Loans |
24.1 |
30.5 |
31.5 |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
279 : Manufacture of other electrical equipment |
|
|
71102 : Engineering services |
|
|
INDUSTRY : |
ELECTRICAL & ELECTRONIC |
|
Electrical & Electronic |
|
|
The electrical & electronics (E&E) industry is the
leading sector in Malaysia’s manufacturing. The E&E industry in Malaysia can
be categorized into four sub-sectors; consumer electronics, electric
components, industrial electronics and electrical. |
|
|
As a major part of the supply chain in the technology sector,
the importance of the E&E industry has grown significantly while its
contribution to the economy has grown more pronounce, especially through the
trade industry. |
|
|
Malaysia E&E industry has been highlighted as one of the 12
National Key Economic Areas (NKEA) under the government’s Economic
Transformation Programme (ETP) to propel Malaysia into its 2020 vision of
being a developed nation. For the E&E sector, keeping pace with fast
evolving technologies is crucial to the industry’s overall competitiveness
vis-a-vis other regional markets. |
|
|
According to International Trade and Industry, the E&E
industry grew by 20.6% in the first two months of 2017. Malaysia achieved
significant progress in the E&E industry over the last decade that had resulted
in the growth of new businesses and creation of jobs. Malaysia was the
world's seventh largest exporter of E&E products, valued at RM287.7
billion in 2016, and made up 36% of Malaysia's total exports. In addition,
performance in 2016 was certainly better. 2016 total trade in E&E only
grew by 1.5%. Overall, our forecast is somewhere around 5% growth for 2017. |
|
|
The performance in the first two months of 2017 has been
excellent. The machinery and equipment (M&E) industry also grew robustly
over the years with a strong export performance that contributed to more than
5% of total exports of manufactured goods in 2016. In 2016 the Malaysian
Investment Development Authority (Mida) approved 88 M&E projects with
investments of RM1.54 billion. |
|
|
A breakdown on exports of E&E products from Malaysia shows
that some of the main contributors to the increase in exports to Asean were
higher exports of electronic integrated circuits and other E&E products.
Malaysia’s Department of Statistics also reported that there has been an
increase of exports to the US and this was driven mainly by manufactured
goods which accounted for 94.8% of Malaysia’s total exports to the country. |
|
|
As the demand for E&E products are increasing worldwide, the
implementation of free trade agreements such as the Trans-Pacific Partnership
Agreement (TPPA) has been viewed as beneficial to sector as it could expose
Malaysia’s E&E sector to a wider market. For the E&E sector, the TPPA
will not only offer huge market potentials for Malaysian suppliers or
investors, it will also encourage innovation and productivity in the sector. |
|
|
OVERALL INDUSTRY OUTLOOK : Strong Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
Financials
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
|
Financial Year End |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
12 |
12 |
8 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
255,184,215 |
234,531,565 |
95,538,630 |
99,614,065 |
39,896,967 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
255,184,215 |
234,531,565 |
95,538,630 |
99,614,065 |
39,896,967 |
|
Costs of Goods Sold |
(280,799,053) |
(211,678,345) |
(84,079,463) |
(82,542,878) |
(35,039,904) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
(25,614,838) |
22,853,220 |
11,459,167 |
17,071,187 |
4,857,063 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(70,730,137) |
(7,251,415) |
(12,505,573) |
3,056,855 |
(2,163,342) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(70,730,137) |
(7,251,415) |
(12,505,573) |
3,056,855 |
(2,163,342) |
|
Taxation |
(169,829) |
(21,694) |
(160,000) |
- |
181,357 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(70,899,966) |
(7,273,109) |
(12,665,573) |
3,056,855 |
(1,981,985) |
|
Minority interests |
1,774 |
- |
12,603 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
(70,898,192) |
(7,273,109) |
(12,652,970) |
3,056,855 |
(1,981,985) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
(70,898,192) |
(7,273,109) |
(12,652,970) |
3,056,855 |
(1,981,985) |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(12,181,962) |
(4,908,853) |
7,744,117 |
4,687,262 |
6,669,247 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(12,181,962) |
(4,908,853) |
7,744,117 |
4,687,262 |
6,669,247 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(83,080,154) |
(12,181,962) |
(4,908,853) |
7,744,117 |
4,687,262 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(83,080,154) |
(12,181,962) |
(4,908,853) |
7,744,117 |
4,687,262 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
- |
- |
5 |
25,250 |
|
Bankers' acceptance |
- |
- |
- |
76,811 |
70,063 |
|
Hire purchase |
54,226 |
55,870 |
55,330 |
24,180 |
14,655 |
|
Term loan / Borrowing |
- |
- |
3,071 |
161,258 |
162,614 |
|
Others |
981,272 |
471,175 |
343,276 |
258,536 |
80,378 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,035,498 |
527,045 |
401,677 |
520,790 |
352,960 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,520,876 |
1,850,159 |
1,681,812 |
1,214,516 |
507,811 |
|
AMORTIZATION |
1,013,285 |
984,593 |
515,338 |
322,442 |
212,962 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
3,534,161 |
2,834,752 |
2,197,150 |
1,536,958 |
720,773 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
20,353,145 |
13,944,767 |
14,329,262 |
11,755,729 |
6,906,676 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Associated companies |
- |
- |
- |
141,003 |
141,003 |
|
Development properties/expenditure |
21,034,649 |
19,158,659 |
15,075,316 |
10,161,622 |
5,269,456 |
|
Deferred assets |
- |
- |
- |
160,000 |
160,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
21,034,649 |
19,158,659 |
15,075,316 |
10,462,625 |
5,570,459 |
|
INTANGIBLE ASSETS |
|||||
|
Goodwill on consolidation |
- |
1,835,628 |
1,951,474 |
2,067,320 |
2,183,166 |
|
Others |
1,120,000 |
1,280,000 |
1,440,000 |
1,633,375 |
114,187 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
1,120,000 |
3,115,628 |
3,391,474 |
3,700,695 |
2,297,353 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
42,507,794 |
36,219,054 |
32,796,052 |
25,919,049 |
14,774,488 |
|
CURRENT ASSETS |
|||||
|
Stocks |
16,934,695 |
19,232,023 |
11,307,282 |
13,351,391 |
10,864,910 |
|
Contract work-in-progress |
11,062,523 |
5,541,828 |
7,097,180 |
2,612,075 |
1,887,342 |
|
Trade debtors |
65,025,872 |
57,687,154 |
41,019,886 |
31,243,877 |
14,106,788 |
|
Other debtors, deposits & prepayments |
41,550,638 |
40,400,863 |
23,223,549 |
12,509,155 |
7,573,824 |
|
Short term deposits |
264,462 |
354,011 |
354,011 |
354,011 |
4,887,539 |
|
Amount due from holding company |
1,394,143 |
- |
- |
- |
- |
|
Cash & bank balances |
3,654,176 |
5,871,059 |
3,557,132 |
2,924,190 |
3,563,308 |
|
Others |
- |
4,877 |
19,143 |
18,956 |
13,379 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
139,886,509 |
129,091,815 |
86,578,183 |
63,013,655 |
42,897,090 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
182,394,303 |
165,310,869 |
119,374,235 |
88,932,704 |
57,671,578 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
8,052,620 |
10,216,709 |
9,137,230 |
11,917,636 |
9,742,951 |
|
Other creditors & accruals |
90,653,459 |
32,961,298 |
22,820,958 |
17,950,570 |
12,936,036 |
|
Hire purchase & lease creditors |
308,841 |
307,881 |
270,236 |
208,129 |
155,909 |
|
Short term borrowings/Term loans |
- |
- |
- |
44,201 |
259,558 |
|
Amounts owing to holding company |
- |
939,359 |
3,400,246 |
4,646,441 |
798,045 |
|
Amounts owing to related companies |
61,531,605 |
77,871,711 |
33,465,076 |
25,498,219 |
22,649,841 |
|
Provision for taxation |
5,636 |
27,856 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
160,552,161 |
122,324,814 |
69,093,746 |
60,265,196 |
46,542,340 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(20,665,652) |
6,767,001 |
17,484,437 |
2,748,459 |
(3,645,250) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
- |
- |
- |
364,982 |
4,030,493 |
|
Hire purchase creditors |
588,818 |
647,621 |
702,595 |
448,928 |
411,483 |
|
Others |
17,051,742 |
29,208,279 |
29,208,279 |
18,109,481 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
17,640,560 |
29,855,900 |
29,910,874 |
18,923,391 |
4,441,976 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
4,201,582 |
13,130,155 |
20,369,615 |
9,744,117 |
6,687,262 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,194,000 |
2,870,000 |
2,870,000 |
2,000,000 |
2,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,194,000 |
2,870,000 |
2,870,000 |
2,000,000 |
2,000,000 |
|
RESERVES |
|||||
|
Share premium |
81,989,980 |
22,332,900 |
22,332,900 |
- |
- |
|
Exchange equalisation/fluctuation reserve |
20,198 |
29,885 |
(3,764) |
- |
- |
|
Retained profit/(loss) carried forward |
(83,080,154) |
(12,181,962) |
(4,908,853) |
7,744,117 |
4,687,262 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(1,069,976) |
10,180,823 |
17,420,283 |
7,744,117 |
4,687,262 |
|
MINORITY INTEREST |
77,558 |
79,332 |
79,332 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
4,201,582 |
13,130,155 |
20,369,615 |
9,744,117 |
6,687,262 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
TOSHIBA TRANSMISSION & DISTRIBUTION SYSTEMS ASIA SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
3,918,638 |
6,225,070 |
3,911,143 |
3,278,201 |
8,450,847 |
|
Net Liquid Funds |
3,918,638 |
6,225,070 |
3,911,143 |
3,278,201 |
8,450,847 |
|
Net Liquid Assets |
(37,600,347) |
(12,465,022) |
6,177,155 |
(10,602,932) |
(14,510,160) |
|
Net Current Assets/(Liabilities) |
(20,665,652) |
6,767,001 |
17,484,437 |
2,748,459 |
(3,645,250) |
|
Net Tangible Assets |
3,081,582 |
10,014,527 |
16,978,141 |
6,043,422 |
4,389,909 |
|
Net Monetary Assets |
(55,240,907) |
(42,320,922) |
(23,733,719) |
(29,526,323) |
(18,952,136) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
(69,694,639) |
(6,724,370) |
(12,103,896) |
3,577,645 |
(1,810,382) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(66,160,478) |
(3,889,618) |
(9,906,746) |
5,114,603 |
(1,089,609) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
897,659 |
955,502 |
972,831 |
1,066,240 |
4,857,443 |
|
Total Liabilities |
178,192,721 |
152,180,714 |
99,004,620 |
79,188,587 |
50,984,316 |
|
Total Assets |
182,394,303 |
165,310,869 |
119,374,235 |
88,932,704 |
57,671,578 |
|
Net Assets |
4,201,582 |
13,130,155 |
20,369,615 |
9,744,117 |
6,687,262 |
|
Net Assets Backing |
4,201,582 |
13,130,155 |
20,369,615 |
9,744,117 |
6,687,262 |
|
Shareholders' Funds |
4,201,582 |
13,130,155 |
20,369,615 |
9,744,117 |
6,687,262 |
|
Total Share Capital |
5,194,000 |
2,870,000 |
2,870,000 |
2,000,000 |
2,000,000 |
|
Total Reserves |
(1,069,976) |
10,180,823 |
17,420,283 |
7,744,117 |
4,687,262 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
8.81 |
145.48 |
(4.09) |
149.68 |
(18.78) |
|
Proft/(Loss) Before Tax |
(875.40) |
42.01 |
(509.10) |
241.30 |
(164.83) |
|
Proft/(Loss) After Tax |
(874.82) |
42.58 |
(514.33) |
254.23 |
(160.00) |
|
Total Assets |
10.33 |
38.48 |
34.23 |
54.21 |
19.66 |
|
Total Liabilities |
17.09 |
53.71 |
25.02 |
55.32 |
29.01 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.02 |
0.05 |
0.06 |
0.05 |
0.18 |
|
Liquid Ratio |
0.77 |
0.90 |
1.09 |
0.82 |
0.69 |
|
Current Ratio |
0.87 |
1.06 |
1.25 |
1.05 |
0.92 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
70 |
68 |
128 |
96 |
165 |
|
Debtors Ratio |
93 |
90 |
157 |
114 |
129 |
|
Creditors Ratio |
10 |
18 |
40 |
53 |
101 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.21 |
0.07 |
0.05 |
0.11 |
0.73 |
|
Liabilities Ratio |
42.41 |
11.59 |
4.86 |
8.13 |
7.62 |
|
Times Interest Earned Ratio |
(67.31) |
(12.76) |
(30.13) |
6.87 |
(5.13) |
|
Assets Backing Ratio |
0.59 |
3.49 |
5.92 |
3.02 |
2.19 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(27.72) |
(3.09) |
(13.09) |
3.07 |
(5.42) |
|
Net Profit Margin |
(27.78) |
(3.10) |
(13.24) |
3.07 |
(4.97) |
|
Return On Net Assets |
(1,658.77) |
(51.21) |
(59.42) |
36.72 |
(27.07) |
|
Return On Capital Employed |
(298.50) |
(14.46) |
(22.41) |
10.98 |
(13.33) |
|
Return On Shareholders' Funds/Equity |
(1,687.42) |
(55.39) |
(62.12) |
31.37 |
(29.64) |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
MYR |
1 |
INR 16.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.