|
|
|
MIRA INFORM REPORT
|
Report No. : |
501079 |
|
Report Date : |
03.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ZOLANO DESIGN SDN. BHD. |
|
|
|
|
Registered Office : |
Lot 2248-A, Kampung Baru Sungai Buloh, 47000 Sungai Buloh,
Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
24.05.2004 |
|
|
|
|
Com. Reg. No.: |
653512-H |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the manufacturing and trading of
furniture. |
|
|
|
|
No. of Employees : |
100 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
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
|
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. |
: |
653512-H |
||||
|
GST NO. |
: |
001785044992 |
||||
|
COMPANY NAME |
: |
ZOLANO DESIGN SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
24/05/2004 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 2248-A, KAMPUNG BARU SUNGAI BULOH, 47000 SUNGAI BULOH,
SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 2248-A, KAMPUNG BARU SUNGAI BULOH, 47000 SUNGAI BULOH,
SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-61568322 |
||||
|
FAX.NO. |
: |
03-61574663 |
||||
|
EMAIL |
: |
ENQUIRY@ZOLANO.COM |
||||
|
WEB SITE |
: |
WWW.ZOLANO.COM |
||||
|
CONTACT PERSON |
: |
YAP HOO ( CEO ) |
||||
|
INDUSTRY CODE |
: |
31001 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF FURNITURES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
100 [2018] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is an exempt private
company which is allowed to have a minimum of two and a maximum of twenty
shareholders and all the shareholders must be individuals. An exempt company is
a type of private limited company. As a private limited company, the Subject
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, 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)
manufacturing and trading of furnitures.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. YAP HOO + |
NO 24 JALAN 3/3, BANDAR BARU SELAYANG, MALAYSIA, SELANGOR,
MALAYSIA. |
560412-10-5809 4950056 |
450,000.00 |
45.00 |
|
MR. YAP PENG CHUAN + |
32,JALAN KENANGA SD 9/5F, BANDAR SRI DAMANSARA, 52200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
610206-10-6205 6150308 |
200,000.00 |
20.00 |
|
MR. YAP BOON LEONG |
NO 76, JALAN SJ 16, TAMAN SELAYANG JAYA, MALAYSIA |
651203-10-6809 A0300553 |
150,000.00 |
15.00 |
|
YAP LING LEI + |
NO 24 JALAN 3/3, BDR BARU SELAYANG, SELANGOR, MALAYSIA. |
841217146059 |
50,000.00 |
5.00 |
|
MR. YANG PENG HOOI |
NO. 45, JALAN 3/1, BANDAR BARU SELAYANG, MALAYSIA |
630829-10-6437 7180299 |
150,000.00 |
15.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
GOH SUI |
N/A |
280413-71-5418 |
100,000.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. YAP NAM SING |
|
Address |
: |
32B-0-11, LE CHATEAU APARTMENT, JALAN LORONG SYED PUTRA KIRI,
50460 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A1982743 |
|
New IC No |
: |
720201-06-5501 |
|
Date of Birth |
: |
01/02/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/04/2005 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
509563U |
AGENSI PEKERJAAN INTEL JOB SDN. BHD. |
Director |
09/06/2000 |
37,500.00 |
50.00 |
MYR5,741.00 |
2007 |
Disolved by Registrar |
23/02/2018 |
|
2 |
800436V |
GOLDEBUT ENGINEERING SDN. BHD. |
Director |
23/09/2008 |
250,000.00 |
50.00 |
MYR(46,627.00) |
2016 |
- |
23/02/2018 |
|
3 |
712455D |
MAGNIFICO MANAGEMENT SDN. BHD. |
Director |
02/01/2006 |
51,000.00 |
25.50 |
MYR(73,856.00) |
2013 |
- |
23/02/2018 |
|
4 |
441243T |
TYRE MASTER SDN. BHD. |
Director |
04/08/1997 |
50,000.00 |
50.00 |
MYR(107,663.00) |
2016 |
- |
23/02/2018 |
|
5 |
158938T |
YAMOTOR TYRE SERVICE SDN.BHD. |
Shareholder |
- |
50,000.00 |
12.50 |
MYR2,319,155.00 |
2016 |
- |
23/02/2018 |
|
6 |
653512H |
ZOLANO DESIGN SDN. BHD. |
Director |
15/04/2005 |
0.00 |
- |
- |
2007 |
- |
23/02/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
205753P |
HWI CHUAN ENTERPRISE SDN. BHD. |
Director |
20/06/2005 |
11/06/2007 |
- |
- |
|
2 |
490795H |
LSL TECHNOLOGIES SDN. BHD. |
Director |
15/12/2008 |
01/06/2009 |
- |
- |
|
3 |
726284W |
PAXAGON INDUSTRY SDN. BHD. |
Director |
10/05/2006 |
30/09/2010 |
- |
- |
|
4 |
726284W |
PAXAGON INDUSTRY SDN. BHD. |
Shareholder |
- |
- |
400.00 |
- |
|
5 |
1206860U |
SHINING REALTY SDN. BHD. |
Director |
24/11/2016 |
19/07/2017 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
YAP LING LEI |
|
Address |
: |
NO 24 JALAN 3/3, BDR BARU SELAYANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
841217146059 |
|
Date of Appointment |
: |
18/04/2005 |
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 |
653512H |
ZOLANO DESIGN SDN. BHD. |
Director |
18/04/2005 |
50,000.00 |
5.00 |
- |
- |
- |
23/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. YAP PENG CHUAN |
|
Address |
: |
32,JALAN KENANGA SD 9/5F, BANDAR SRI DAMANSARA, 52200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
6150308 |
|
New IC No |
: |
610206-10-6205 |
|
Date of Birth |
: |
06/02/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/05/2004 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
205753P |
HWI CHUAN ENTERPRISE SDN. BHD. |
Director |
06/10/1990 |
20,000.00 |
20.00 |
MYR(81,692.00) |
2016 |
- |
23/02/2018 |
|
2 |
936435U |
IDAMAN BIDARI SDN. BHD. |
Director |
16/03/2011 |
50.00 |
50.00 |
MYR(55,897.00) |
2017 |
- |
23/02/2018 |
|
3 |
351608X |
NOVEL TECHNOLOGY SDN. BHD. |
Director |
25/08/1997 |
12,500.00 |
50.00 |
MYR(13,063.00) |
2016 |
- |
23/02/2018 |
|
4 |
1206860U |
SHINING REALTY SDN. BHD. |
Director |
18/07/2017 |
64,000.00 |
16.00 |
- |
- |
- |
23/02/2018 |
|
5 |
653512H |
ZOLANO DESIGN SDN. BHD. |
Director |
24/05/2004 |
200,000.00 |
20.00 |
- |
2016 |
- |
23/02/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
002550351W |
NASA HOME DESIGN |
SOLE PROPRIETORSHIP |
13/06/2016 |
100.00 |
Expired |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
726284W |
PAXAGON INDUSTRY SDN. BHD. |
Director |
10/05/2006 |
30/09/2010 |
- |
- |
|
2 |
726284W |
PAXAGON INDUSTRY SDN. BHD. |
Shareholder |
- |
- |
300.00 |
- |
|
3 |
001142960A |
SOVERLIGN DESIGN |
SOLE PROPRIETORSHIP |
18/06/2004 |
15/11/2014 |
- |
- |
DIRECTOR 4
|
Name Of Subject |
: |
MR. YAP HOO |
|
Address |
: |
NO 24 JALAN 3/3, BANDAR BARU SELAYANG, MALAYSIA, SELANGOR,
MALAYSIA. |
|
Other Address(es) |
: |
AS-10 SALAK SOUTH GARDEN, KUALA LUMPUR., 57100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
4950056 |
|
New IC No |
: |
560412-10-5809 |
|
Date of Birth |
: |
12/04/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
24/05/2004 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
205753P |
HWI CHUAN ENTERPRISE SDN. BHD. |
Director |
06/10/1990 |
50,000.00 |
50.00 |
MYR(81,692.00) |
2016 |
- |
23/02/2018 |
|
2 |
936435U |
IDAMAN BIDARI SDN. BHD. |
Director |
16/03/2011 |
50.00 |
50.00 |
MYR(55,897.00) |
2017 |
- |
23/02/2018 |
|
3 |
351608X |
NOVEL TECHNOLOGY SDN. BHD. |
Director |
25/08/1997 |
12,500.00 |
50.00 |
MYR(13,063.00) |
2016 |
- |
23/02/2018 |
|
4 |
1006155K |
RICHMORE SUMMIT SDN. BHD. |
Director |
08/07/2014 |
0.00 |
- |
MYR(64,135.00) |
2017 |
- |
23/02/2018 |
|
5 |
1206860U |
SHINING REALTY SDN. BHD. |
Director |
18/07/2017 |
104,000.00 |
26.00 |
- |
2017 |
- |
23/02/2018 |
|
6 |
1254425V |
VISION FOAM IND SDN. BHD. |
Director |
06/11/2017 |
180,040.00 |
10.00 |
- |
2017 |
- |
23/02/2018 |
|
7 |
653512H |
ZOLANO DESIGN SDN. BHD. |
Director |
24/05/2004 |
450,000.00 |
45.00 |
- |
2016 |
- |
23/02/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
726284W |
PAXAGON INDUSTRY SDN. BHD. |
Director |
10/05/2006 |
30/09/2010 |
- |
- |
|
2 |
726284W |
PAXAGON INDUSTRY SDN. BHD. |
Shareholder |
- |
- |
300.00 |
- |
|
3 |
001142960A |
SOVERLIGN DESIGN |
SOLE PROPRIETORSHIP |
18/06/2004 |
15/11/2014 |
- |
- |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
YAP HOO |
|
Position |
: |
CEO |
|
|
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. CHOOK KIM HOE |
|
IC / PP No |
: |
A0422467 |
|
|
New IC No |
: |
660721-10-6379 |
|
|
Address |
: |
NO.23,JALAN AIR SUNGAI, SETAPAK, 53200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
EON BANK BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
06/12/2006 |
N/A |
EON BANK BERHAD |
MYR 2,200,000.00 |
Unsatisfied |
|
2 |
06/12/2006 |
N/A |
EON BANK BERHAD |
MYR 1,800,000.00 |
Unsatisfied |
|
3 |
21/06/2013 |
N/A |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
4 |
08/09/2016 |
N/A |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
5 |
14/02/2018 |
N/A |
HONG LEONG BANK BERHAD |
- |
Unsatisfied |
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 SETTLED litigation case(s) on the Subject in our database as
below:
- 1 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.
There is/are CLOSED litigation case(s) on the Subject in our database as below:
- 1 case(s) filed in year 2018
- 1 case(s) filed in year 2017
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 |
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) MALAYSIA FURNITURE INDUSTRY |
|
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Total Number of Employees: |
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|
YEAR |
2018 |
2017 |
2016 |
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GROUP |
N/A |
N/A |
N/A |
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COMPANY |
100 |
100 |
100 |
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Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of furniture.
ZOLANO is one of Malaysia's leading manufacturers of premium quality leather
sofas.
The Subject is backed by a creative designing team focusing on quality and
comfort.
The Subject is a renowned furniture exporter with many years of solid sofa
manufacturing expertise.
From design, material selections, modelling to production – its Italian
designers are always reaching out for excellence. Every design specification
must meet its strict quality and durability expectations before it makes it to
the production line.
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 |
: |
N/A |
|
Current Telephone Number |
: |
03-61568322 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
SUNGAI BULOH SELANGOR |
|
Current Address |
: |
LOT 2248-A, KAMPUNG BARU SUNGAI BULOH, 47000 SUNGAI BULOH,
SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
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. |
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Overall financial condition of the Subject : N/A |
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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 |
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INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
31001 : Manufacture of wooden and cane furniture |
|
|
INDUSTRY : |
FURNITURE & FIXTURES |
|
Ranked as the 10th largest
exporter of furniture in the world, Malaysia exports around 80% of its
production. With large markets in US, Japan and Australia, Malaysia has a
strong position in the global furniture industry. Increasing demand for
Malaysian furniture products coupled with innovation in the industry will
ensure the growth of the Malaysian furniture industry. |
|
|
Malaysia has always been known
for its wood based furniture, owing to its natural resources. The government has
set an annual growth target of 6.5% for wood based furniture, estimated to
reach up to RM53 billion by year 2020. In recent years, the growth has
shifted from producing general products towards designing its own, and this
has been key in propelling Malaysia onto the international arena. Popular
with overseas buyers of the middle to high category, foreign buyers look to
Malaysia for manufacturers who can meet their high production demand. |
|
|
The furniture industry
contributes significantly to the total exports of timber and timber products,
with exports valued at RM9.53 billion in 2016, an increase of 4.2% compared
to 2015. In 2016, the export of wooden furniture, in particular was valued at
RM7.56 billion, an increase of 4.2% compared to 2015. This sector is
envisaged to contribute RM16 billion to the country’s export earnings by
2020. He said, he is confident that the export performance of furniture
products will continue to improve in the coming years. |
|
|
Despite numerous economic downturns,
the industry is still supported by a strong global demand. While lower priced
Chinese and Vietnamese furniture pose strong competition, Malaysian furniture
continues to set itself apart with original design that places importance on
aesthetics as well as its good work ethics. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
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 16.82 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.