|
|
|
%20SDN%20%20BHD%20%20-%20501790%2010-Apr-2018_files/image002.jpg){kind=small}
%20SDN%20%20BHD%20%20-%20501790%2010-Apr-2018_files/image004.jpg)
%20SDN%20%20BHD%20%20-%20501790%2010-Apr-2018_files/image005.gif)
MIRA INFORM REPORT
|
Report No. : |
501790 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KERRY INGREDIENTS
(M) SDN. BHD. |
|
|
|
|
Formerly Known As : |
SDF - SCAN DAIRY & FOOD SDN BHD
(05/01/1999) |
|
|
|
|
Registered Office : |
Suite 1301, 13th Floor,City Plaza, Jalan
Tebrau, 80300 Johor Bahru, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
13.01.1992 |
|
|
|
|
Com. Reg. No.: |
232329-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacturing of speciality lipid powders, cheese & dairy powders, snack seasonings,
batters and coatings and its related products. |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
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. |
: |
232329-K |
||||
|
GST NO. |
: |
000424820736 |
||||
|
COMPANY NAME |
: |
KERRY INGREDIENTS (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
SDF - SCAN DAIRY & FOOD SDN BHD
(05/01/1999) |
||||
|
INCORPORATION DATE |
: |
13/01/1992 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
SUITE 1301, 13TH FLOOR,CITY PLAZA, JALAN
TEBRAU, 80300 JOHOR BAHRU, JOHOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
8, JALAN HASIL 2, TAMPOI, 81200 JOHOR BAHRU,
JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-2332800/2332824 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
CONTACT PERSON |
: |
CHAM CHEAH HUI ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
10799 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF SPECIALITY LIPID POWDERS,
CHEESE & DAIRY POWDERS, SNACK SEASONINGS, BATTERS AND COATINGS AND ITS
RELATED PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR
50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR
29,300,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 1,491,606,326 [2016] |
||||
|
NET WORTH |
: |
MYR 643,664,631 [2016] |
||||
|
M1000 OVERALL RANKING |
: |
713[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
55[2011] |
||||
|
STAFF STRENGTH |
: |
300 [2018] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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 speciality lipid powders, cheese & dairy
powders, snack seasonings, batters and coatings and its related products.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication,
the Subject's ranking are as follows: |
||||
|
YEAR |
2011 |
2009 |
2008 |
|
|
OVERALL RANKING |
713 |
780 |
876 |
|
|
INDUSTRY RANKING |
55 |
58 |
64 |
|
The immediate holding company of the Subject
is KERRY GROUP B.V, a company incorporated in NETHERLANDS.
The ultimate holding company of the Subject
is KERRY GROUP PLC, a company incorporated in IRELAND.
Former Address(es)
|
Address |
As At Date |
|
LOT 3.09, 3RD FLOOR, STRAITS TRADING
BUILDING, 4, LEBOH PASAR BESAR, STRAITS TRADING BUILDING, 3.09, 50050,
WILAYAH PERSEKUTUAN, MALAYSIA |
14/02/1992 |
|
19TH FLOOR, BANGUNAN ARAB-MALAYSIAN, 55,
JALAN RAJA CHULAN, 50200, WILAYAH PERSEKUTUAN, MALAYSIA |
14/12/1992 |
|
SUITE 15.03, LEVEL 15, MENARA MAA, 15,
JALAN DATO' ABDULLAH TAHIR, 80300, JOHOR, MALAYSIA |
19/04/2009 |
|
LEVEL 14, UPTOWN 1, 1, JALAN SS 21/58,
DAMANSARA UPTOWN, 47400, SELANGOR, MALAYSIA |
25/01/2000 |
|
6TH FLOOR, 3, CHANGKAT RAJA CHULAN, 50200,
WILAYAH PERSEKUTUAN, MALAYSIA |
31/03/1999 |
|
19, JALAN TUN ABDUL RAZAK, SUSUR 1/1,
80000, JOHOR, MALAYSIA |
31/07/2006 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
27/06/2014 |
MYR 50,000,000.00 |
MYR 29,300,000.00 |
|
27/10/1994 |
MYR 50,000,000.00 |
MYR 26,300,000.00 |
|
10/01/1994 |
MYR 25,000,000.00 |
MYR 17,866,667.00 |
|
24/02/1993 |
MYR 25,000,000.00 |
MYR 15,200,000.00 |
|
13/01/1992 |
MYR 50,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
KERRY GROUP B.V |
WESTBLAAK 79,3012 KE ROTTERDAM, NETHERLANDS
NETHERLANDS |
XLZ000014062 |
32,300,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
32,300,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
RONAN DEASY |
|
Address |
: |
44 MOUNTHAWK MANOR, CAHERESLEE,, TRALEE, CO.
KERRY IRELAND |
|
IC / PP No |
: |
LB0021492 |
|
Date of Appointment |
: |
08/12/2017 |
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 |
234769T |
ESTEROL SDN. BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR6,905,792.00 |
2016 |
- |
26/03/2018 |
|
2 |
901706A |
KERRY GROUP BUSINESS SERVICES (ASPAC) SDN.
BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR3,028,104.00 |
2016 |
- |
26/03/2018 |
|
3 |
232329K |
KERRY INGREDIENTS (M) SDN. BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR42,222,491.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
BRIAN CORNELIUS MEHIGAN |
|
Address |
: |
KILETON, CAMP, TRALEE, CO. KERRY, IRELAND |
|
IC / PP No |
: |
LB4660758 |
|
Date of Appointment |
: |
01/04/2010 |
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 |
234769T |
ESTEROL SDN. BHD. |
Director |
25/08/2011 |
0.00 |
- |
MYR6,905,792.00 |
2016 |
- |
26/03/2018 |
|
2 |
901706A |
KERRY GROUP BUSINESS SERVICES (ASPAC) SDN.
BHD. |
Director |
01/07/2010 |
0.00 |
- |
MYR3,028,104.00 |
2016 |
- |
26/03/2018 |
|
3 |
232329K |
KERRY INGREDIENTS (M) SDN. BHD. |
Director |
01/04/2010 |
0.00 |
- |
MYR42,222,491.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
JAMES MARTIN CURRAN |
|
Address |
: |
7 ONE NORTH GATEWAY, #11-21 ONE NORTH
RESIDENCES, 138642, SINGAPORE. |
|
IC / PP No |
: |
LT1318719 |
|
Date of Appointment |
: |
21/11/2014 |
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 |
234769T |
ESTEROL SDN. BHD. |
Director |
21/11/2014 |
0.00 |
- |
MYR6,905,792.00 |
2016 |
- |
26/03/2018 |
|
2 |
901706A |
KERRY GROUP BUSINESS SERVICES (ASPAC) SDN.
BHD. |
Director |
21/11/2014 |
0.00 |
- |
MYR3,028,104.00 |
2016 |
- |
26/03/2018 |
|
3 |
232329K |
KERRY INGREDIENTS (M) SDN. BHD. |
Director |
21/11/2014 |
0.00 |
- |
MYR42,222,491.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. CHAM CHEAH HUI |
|
Address |
: |
67, JALAN BADIK, TAMAN SRI TEBRAU, 80050
JOHOR BAHRU, JOHOR, MALAYSIA. |
|
New IC No |
: |
790626-71-5016 |
|
Date of Birth |
: |
26/06/1979 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/12/2017 |
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 |
234769T |
ESTEROL SDN. BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR6,905,792.00 |
2016 |
- |
26/03/2018 |
|
2 |
901706A |
KERRY GROUP BUSINESS SERVICES (ASPAC) SDN.
BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR3,028,104.00 |
2016 |
- |
26/03/2018 |
|
3 |
232329K |
KERRY INGREDIENTS (M) SDN. BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR42,222,491.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
TREVOR JAMES HORAN |
|
Address |
: |
KILLEENEENMORE, CRAUGHWELL, CO.GALWAY |
|
IC / PP No |
: |
PT8358428 |
|
Date of Appointment |
: |
08/12/2017 |
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 |
234769T |
ESTEROL SDN. BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR6,905,792.00 |
2016 |
- |
26/03/2018 |
|
2 |
901706A |
KERRY GROUP BUSINESS SERVICES (ASPAC) SDN.
BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR3,028,104.00 |
2016 |
- |
26/03/2018 |
|
3 |
232329K |
KERRY INGREDIENTS (M) SDN. BHD. |
Director |
08/12/2017 |
0.00 |
- |
MYR42,222,491.00 |
2016 |
- |
26/03/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
WONG KWAI YIN |
N68, JALAN CAHAYA 10, SALAK SOUTH GARDEN, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
690828-10-6050 |
21/01/1998 |
10/06/1999 |
|
TEO KEE BOCK |
30,FIFTH AVENUE, SINGAPORE 268793 |
E4805225F |
15/01/1992 |
22/01/1998 |
|
TAN KOK LEONG |
22, JALAN SUNGAI RAMAL 32/55E, BUKIT RIMAU,
SEKSYEN 32, SHAH ALAM, SELANGOR, MALAYSIA |
640520-06-5701 |
21/08/1995 |
01/11/1996 |
|
TAN SONG KOON |
56, CHOA CHU KANG NORTH 6, #01-28,YEW MEI
GREEN, SINGAPORE 689577 |
1135360F |
03/03/1992 |
22/01/1998 |
|
PAUL JOSEPH SOH |
8,JALAN SS 22/20B, DAMANSARA JAYA, SELANGOR |
510428-71-5067 |
21/01/1998 |
15/04/1999 |
|
MAX KRUSE |
1628,JALAN TEBU, UKAY HEIGHTS,
AMPANG,SELANGOR., AMPANG, WILAYAH PERSEKUTUAN, MALAYSIA |
S000000333 |
03/08/1993 |
15/04/1995 |
|
OLE EJNER VIGGO ANDERSEN |
KRISTIANIAGADE 22, 3RD FLOOR,2100
COPENHAGEN OE |
A001810414 |
19/01/1992 |
14/07/1997 |
|
NG LU SIONG |
30, JALAN U THANT, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
470323-10-5007 |
23/09/1996 |
22/01/1998 |
|
MARK JUSTIN MCCORMACK |
460 ALEXANDRA ROAD, 22-04A/22-05, PSA
BUILDING, 119963 SINGAPORE |
LB0048482 |
21/01/1998 |
01/01/2014 |
|
LEIF THUN RASMUSSEN |
GLADSAXEVEJ 305, DK-2860 SOERBORG, DENMARK |
10008092 |
25/07/1997 |
22/01/1998 |
|
GREGORY RUSSELL HEATH |
7 PINE GROVE, #08-01, SINGAPORE 597592 |
E7078147 |
24/02/1999 |
28/07/2008 |
|
FARIDAH BINTI TAN SRI ABDUL KADIR |
9 JALAN 12/19, PETALING JAYA, PETALING
JAYA, SELANGOR, MALAYSIA |
600207-02-5758 |
03/03/1992 |
22/01/1998 |
|
DANIEL FINBARR O\'DRISCOLL |
TRINABERRY HOUSE, BAREFIELD ENNIS CO.CLARE
IRELAND |
L031106 |
21/01/1998 |
01/04/2010 |
|
BENDT STARUP |
1,PANDAN VALLEY, 03-104 CAMELLIA TERRACE,
SINGAPORE 597629 |
100240564 |
15/01/1992 |
22/01/1998 |
|
CHEN YEN MOOI |
67 JALAN RASMI, TAMAN RASMI, AMPANG,
SELANGOR, MALAYSIA |
580923-10-6502 |
10/06/1999 |
27/01/2000 |
|
YONG MAY LI |
NO. 25, JALAN SETIA 5/2,, TAMAN SETIA
INDAH,, MALAYSIA, JOHOR BAHRU, JOHOR, MALAYSIA |
560419-01-5064 |
26/01/2000 |
31/07/2017 |
|
IRENE JUAY YEE LUAN |
NO. 17, JALAN INDAH 18/2,, TAMAN BUKIT
INDAH,, JOHOR BAHRU, JOHOR, MALAYSIA |
750430-01-7260 |
02/04/2010 |
21/11/2014 |
|
CLAIRE SALMON |
87 FARRER DRIVE, SOMMERVILLE PARK, UNIT
0102, SINGAPORE 259294 |
LB0058825 |
28/07/2008 |
21/11/2014 |
|
WOO MIN FONG |
NO.5, JALAN PERDANA, JOHOR BAHRU, JOHOR,
MALAYSIA |
460531-01-5584 |
21/11/2014 |
18/05/2015 |
|
DUDLEY PATRICK NEARY |
5, JALAN ANJUNG 3/1, THE HILLS, HORIZON
HILLS, NUSAJAYA, JOHOR, MALAYSIA |
LT9393156 |
18/05/2015 |
08/12/2017 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHAM CHEAH HUI |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor' Address |
: |
LEVEL 10, 1 SENTRAL, JALAN RAKYAT, KUALA
LUMPUR SENTRAL, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. YONG MAY LI |
|
IC / PP No |
: |
8200619 |
|
|
New IC No |
: |
560419-01-5064 |
|
|
Address |
: |
NO. 25, JALAN SETIA 5/2,, TAMAN SETIA
INDAH,, MALAYSIA, 81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. WONG CHEE YIN |
|
IC / PP No |
: |
A1508400 |
|
|
New IC No |
: |
700428-10-5178 |
|
|
Address |
: |
83, JALAN INDAH 4/2,, BUKIT INDAH,, 81200
JOHOR BAHRU, JOHOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CITIBANK BHD |
|
2) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
26/08/1992 |
N/A |
ABN AMRO BANK BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
2 |
26/08/1992 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
3 |
26/08/1992 |
N/A |
MALAYSIAN FRENCH BANK BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
4 |
26/08/1992 |
N/A |
MALAYSIAN FRENCH BANK BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
5 |
26/08/1992 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
6 |
26/08/1992 |
N/A |
ABN AMRO BANK BERHAD |
MYR 8,500,000.00 |
Satisfied |
|
7 |
09/07/1993 |
N/A |
ABN AMRO BANK BERHAD |
MYR 3,165,620.00 |
Satisfied |
|
8 |
09/07/1993 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 2,033,380.00 |
Satisfied |
|
9 |
26/04/1994 |
N/A |
MALAYSIAN FRENCH BANK BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
10 |
26/04/1994 |
N/A |
BANK OF COMMERCE M BERHAD |
MYR 1,500,000.00 |
Satisfied |
|
11 |
26/04/1994 |
N/A |
ABN AMRO BANK BERHAD |
MYR 1,000,000.00 |
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 PENDING litigation case(s) on the Subject in our database as
below:
- 1 case(s) filed in year 2016
According to the Credit Reporting Agencies Act 2010, consent from the Subject
is required for the disclosure of this credit information. In order to have the
consent from the Subject, we need to serve a notice to the Subject by disclose
the following according to the Act Section 23(1) :
1) Enquirer or Company who request for this credit information.
2) Contact person of Enquirer
3) Purpose of this credit information being used.
4) Contact person of the Subject.
We shall appreciate if you can furnish us the above in order for us to serve a
notice or inform the Subject accordingly. Otherwise, we are prohibited to
disclose this credit information if there is no consent from the Subject
according to the Act Section 24(1)(a).
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 PENDING litigation case(s) on the Subject in our database as
below:
- 1 case(s) filed in year 2017
There is/are CLOSED litigation case(s) on the Subject in our database as below:
- 2 case(s) filed in year 2017
According to the Credit Reporting Agencies Act 2010, consent from the Subject
is required for the disclosure of this credit information. In order to have the
consent from the Subject, we need to serve a notice to the Subject by disclose
the following according to the Act Section 23(1) :
1) Enquirer or Company who request for this credit information.
2) Contact person of Enquirer
3) Purpose of this credit information being used.
4) Contact person of the Subject.
We shall appreciate if you can furnish us the above in order for us to serve a
notice or inform the Subject accordingly. Otherwise, we are prohibited to
disclose this credit information if there is no consent from the Subject
according to the Act Section 24(1)(a).
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.
There is/are CLOSED litigation case(s) on the Subject in our database as below:
- 1 case(s) filed in year 2017
According to the Credit Reporting Agencies Act 2010, consent from the Subject
is required for the disclosure of this credit information. In order to have the
consent from the Subject, we need to serve a notice to the Subject by disclose
the following according to the Act Section 23(1) :
1) Enquirer or Company who request for this credit information.
2) Contact person of Enquirer
3) Purpose of this credit information being used.
4) Contact person of the Subject.
We shall appreciate if you can furnish us the above in order for us to serve a
notice or inform the Subject accordingly. Otherwise, we are prohibited to
disclose this credit information if there is no consent from the Subject
according to the Act Section 24(1)(a).
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 |
Percentage |
: |
60% |
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Import Countries |
: |
EUROPE,NEW ZEALAND,AUSTRALIA,ASIA |
|||
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 |
: |
UNITED STATES |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
FOOD MANUFACTURERS,DISTRIBUTORS |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA SMALL & MEDIUM ENTERPRISE MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE
AND INDUSTRY (MICCI) MALAYSIA FOOD & BEVERAGE INDUSTRY |
|
|
Ownership of premises |
: |
OWNED |
|
|
Shifts |
: |
3 |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2014 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
300 |
300 |
300 |
350 |
|||||
|
Branch |
: |
YES |
|
|
No of Branches |
: |
2 |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
speciality lipid powders, cheese & dairy powders, snack seasonings, batters
and coatings and its related products.
The Subject produces a wide range of products including Non-Dairy Creamers,
Cheese and Dairy Flavourings, Functional Dairy Ingredients, Savoury Snack
Seasonings, Flavours, Mix Seasonings, Food Service, Bakery Ingredients Systems,
Coatings Systems and Functional Meat Ingredients, Mix Seasonings, Food Service,
Bakery Ingredients Systems.
The food ingredients are processed as follow:
* Mixture of ingredients (liquid forms).
* Initial process - forming process whereby the liquid form reaches its solid
form of ingredients (powder form).
The Subject undertakes Research & Development activities to enable
production of ingredients which meet the right standard for quality that
customers' demand.
The Subject utilizes advanced automated and semi-automated machineries to
ensure production of high quality products.
RECENT DEVELOPMENT
|
20 December 2017
Ireland's Kerry Ingredients to cater to local taste
JOHOR BARU: Kerry Ingredients (M) Sdn Bhd, a unit of Ireland's Kerry Group,
plans to introduce new products to meet the demands for new flavours from
consumers who are exposed to more new and exotic tastes.
Peter Dillane, vice president and general manager of food service, Kerry Asia
Pacific, Middle East and Africa (APMEA), said consumers nowadays are more aware
of more tastes and flavours from other countries because of the Internet and
social media.
"These consumers are constantly looking for new products to satisfy their
needs for these new tastes. The challenge for us is to come up with new
products to meet these demands," said Dillane.
He said the company will also work with its major clients, like McDonald's
Malaysia, to come up new sauces whenever the restaurant introduces new limited
time offer (LTO) items.
"This year, for example, we came up with the Korean Sauce for McDonald's
Korean Burger.Next year, we expected McDonald's to introduce two or three new
LTO items," said Dillane.
Kerry is the exclusive supplier of sauces and syrups for McDonald's in the APMEA
region. It supplies about 20 types of products to McDonald's including chili
sauce, BBQ sauce, special McChicken sauce and chocolate and strawberry topping
for the sundaes.
Dillane was speaking to the media a media tour of Kerry Ingredients' plant in Plentong
here which specialises in the manufacturing of a variety of sweet and savoury
sauces and syrup.
Also present were Hafizah Ismail, the regulatory manager for halal at the
Regulatory Affairs Department and the Plentong senior manufacturing manager Chong
Tin Yung.
Besides the Plentong plants, Kerry also operate three other plants in Malaysia,
namely in Tampoi, which specialises in manufacturing infant formula,
Butterworth (specialises in blending) and Shah Alam (specialises in
emulsifiers).
It employs about 1,300 employees locally.
"We manufacture about 800 different products at the Plentong plant, which
have a capacity to produce some 100,000 tonnes of sauces and syrups a
year," said Dillane.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-2332800/2332824 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
8, JALAN HASIL 2, TAMPOI, 81200 JOHOR BAHRU,
JOHOR |
|
Current Address |
: |
8, JALAN HASIL 2, TAMPOI, 81200 JOHOR
BAHRU, JOHOR, 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 provided is incomplete.
The Subject does not use fax facilities.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
6.56% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
7.19% |
] |
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.The Subject's management have been efficient in controlling
its operating costs. The unfavourable return on shareholders' funds could
indicate that the Subject was inefficient in utilising its assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
38 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
37 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
42 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks. The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.19 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.56 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained
by the Subject in order to assure its creditors of its ability to meet short
term obligations and the Subject was in a good liquidity position. Thus, we
believe the Subject is able to meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did
not pay any interest during the year. The Subject had no gearing and hence it
had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved
with higher turnover and profit. The Subject was in good liquidity position
with its total current liabilities well covered by its total current assets.
With its current net assets, the Subject should be able to repay its short
term obligations. The Subject did not make any interest payment during the
year. The Subject was dependent on its shareholders' funds to finance its
business needs. The Subject was a zero gearing company, it was solely
dependant on its shareholders to provide funds to finance its business. The
Subject has good chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject
: FAIR |
||||||
|
|
||||||
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 |
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10799 : Manufacture of other food products
n.e.c. |
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INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is forecast to increase
5.3% in year 2018 (2017: 5.5%). Output of export-oriented industries is
projected to expand on account of sustained demand for E&E, refined
petroleum and woods products. Growth in the domestic-oriented industries is
anticipated to remain resilient supported by ongoing construction of
infrastructure projects as well as strong demand for consumer products,
especially food and transport equipment. |
|
|
Value added of the manufacturing sector
expanded further by 5.8% during the first half of 2017 (January – June 2016:
4.4%) with expansion across a wide range of outputs in both the export- and
domestic-oriented industries. During the first eight months, production
increased 6.4%, while sales rebounded significantly by 15.6% to RM500.2
billion (January – August 2016: 4%; -0.7%; RM432.8 billion). Output of
export-oriented industries rose 6.5% (January – August 2016: 4.3%) led by an
upturn in global electronics cycle and further enhanced by strong demand for
resource-based products. Meanwhile, domestic-oriented industries expanded
6.2% (January – August 2016: 3.4%) benefiting from vibrant consumption and
construction activities. |
|
|
Within the export-oriented industries,
E&E output expanded 9.3% while sales surged 16.3% to RM169.5 billion (January
– August 2016: 6.8%; 9%; RM145.8 billion). Growth emanated mainly from the
expansion in output of printed circuit boards, semiconductor devices and
electronic integrated circuits which strengthened further by 24.4%, 11.9% and
16.9% (January – August 2016: 11.9%; 5.9%; 15%), respectively. This is in
line with the trend in global semiconductor sales which is expected to expand
11.5% in 2017, the highest level since 2010. On the contrary, the output of
computers and peripheral equipment contracted 7.7% (January – August 2016:
3.1%) as a result of lower demand for notebooks and personal computers
following rising preferences for smartphones and tablets. Meanwhile, consumer
electronics grew at a moderate pace of 2.6% (January – August 2016: 5.3%)
partly due to lower demand for in-car entertainment, portable media players
and digital cameras. |
|
|
Output of wood and wood products grew 7.3%
(January – August 2016: 7.8%). The growth was primarily supported by output
of sawmilling and planning of wood which expanded 14.7% (January – August
2016: 16.8%) in response to strong demand from Australia, Japan and the US.
Meanwhile, production of wooden and cane furniture remained steady at 10.9%
(January – August 2016: 10.9%), benefiting from greater adoption of technology
and diversification of export markets. |
|
|
Manufacture of food products rose 11.2%,
largely attributed to a significant increase in refined palm oil at 26.1%
(January – August 2016: 6.3%; -3.3%), following higher production of CPO.
Meanwhile, output of other food products grew 7% supported by production of
bread, cakes and other bakery (15.6%) as well as biscuits and cookies (12%)
to meet the rising demand from households (January – August 2016: 11.1%;
19.2%; 19.1%). |
|
|
For the year, the manufacturing sector is
projected to expand further by 5.5% (2016: 4.4%) mainly attributed to an
upturn in global semiconductor sales as well as higher demand for consumer
products and construction materials. |
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OVERALL INDUSTRY OUTLOOK : Marginal Growth |
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CREDIT RISK EVALUATION & RECOMMENDATION
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|
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PROFIT AND LOSS ACCOUNT
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THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
KERRY INGREDIENTS (M) SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
1,491,606,326 |
1,257,674,455 |
1,189,090,566 |
1,136,557,610 |
897,583,703 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
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Total Turnover |
1,491,606,326 |
1,257,674,455 |
1,189,090,566 |
1,136,557,610 |
897,583,703 |
|
Costs of Goods Sold |
- |
- |
(856,080,257) |
(807,075,652) |
(627,904,132) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
333,010,309 |
329,481,958 |
269,679,571 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
46,282,521 |
39,189,458 |
283,899,252 |
163,490,637 |
156,004,435 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) BEFORE TAXATION |
46,282,521 |
39,189,458 |
283,899,252 |
163,490,637 |
156,004,435 |
|
Taxation |
(4,060,030) |
(14,573,067) |
(906,083) |
4,008,450 |
(4,255,762) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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PROFIT/(LOSS) AFTER TAXATION |
42,222,491 |
24,616,391 |
282,993,169 |
167,499,087 |
151,748,673 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
664,856,655 |
700,490,264 |
527,497,095 |
421,998,008 |
270,249,335 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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As restated |
664,856,655 |
700,490,264 |
527,497,095 |
421,998,008 |
270,249,335 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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PROFIT AVAILABLE FOR APPROPRIATIONS |
707,079,146 |
725,106,655 |
810,490,264 |
589,497,095 |
421,998,008 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(90,000,000) |
(60,250,000) |
(110,000,000) |
(62,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
617,079,146 |
664,856,655 |
700,490,264 |
527,497,095 |
421,998,008 |
|
============= |
============= |
============= |
============= |
============= |
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INTEREST EXPENSE (as per notes to P&L) |
|||||
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Others |
- |
- |
- |
- |
642,956 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
- |
- |
- |
- |
642,956 |
|
|
============= |
============= |
============= |
============= |
============= |
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|
DEPRECIATION (as per notes to P&L) |
27,216,720 |
19,784,210 |
15,324,624 |
17,454,417 |
13,353,416 |
|
AMORTIZATION |
4,487,167 |
4,481,546 |
1,148,501 |
1,248,121 |
1,080,626 |
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---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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Total Amortization And Depreciation |
31,703,887 |
24,265,756 |
16,473,125 |
18,702,538 |
14,434,042 |
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============= |
============= |
============= |
============= |
============= |
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BALANCE SHEET
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KERRY INGREDIENTS (M) SDN. BHD. |
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ASSETS EMPLOYED: |
|||||
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FIXED ASSETS |
395,652,823 |
357,394,183 |
290,939,896 |
251,058,889 |
256,322,890 |
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---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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INTANGIBLE ASSETS |
|||||
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Own goodwill |
34,518,572 |
38,833,394 |
43,770,613 |
44,891,114 |
44,797,462 |
|
Computer software |
291,837 |
509,397 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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TOTAL INTANGIBLE ASSETS |
34,810,409 |
39,342,791 |
43,770,613 |
44,891,114 |
44,797,462 |
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---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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TOTAL LONG TERM ASSETS |
430,463,232 |
396,736,974 |
334,710,509 |
295,950,003 |
301,120,352 |
|
CURRENT ASSETS |
|||||
|
Stocks |
154,242,918 |
186,407,972 |
140,312,590 |
133,159,181 |
89,799,465 |
|
Trade debtors |
152,495,202 |
160,461,454 |
162,225,717 |
134,418,825 |
91,643,121 |
|
Other debtors, deposits & prepayments |
10,361,574 |
10,954,811 |
4,450,337 |
2,892,136 |
3,781,587 |
|
Amount due from related companies |
311,340,696 |
412,032,841 |
101,988,440 |
140,468,892 |
127,343,520 |
|
Cash & bank balances |
9,171,040 |
27,496,763 |
148,130,716 |
45,024,671 |
34,234,645 |
|
Others |
7,726,051 |
3,816,252 |
526,966 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
TOTAL CURRENT ASSETS |
645,337,481 |
801,170,093 |
557,634,766 |
455,963,705 |
346,802,338 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
TOTAL ASSET |
1,075,800,713 |
1,197,907,067 |
892,345,275 |
751,913,708 |
647,922,690 |
|
============= |
============= |
============= |
============= |
============= |
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CURRENT LIABILITIES |
|||||
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Trade creditors |
171,560,649 |
131,407,733 |
106,313,553 |
157,008,160 |
124,103,302 |
|
Other creditors & accruals |
58,743,842 |
69,685,231 |
140,756 |
140,756 |
2,536,156 |
|
Amounts owing to related companies |
169,107,878 |
277,809,392 |
50,775,876 |
28,973,763 |
55,276,613 |
|
Provision for taxation |
- |
- |
- |
4,263,949 |
827,667 |
|
Other liabilities |
14,355,108 |
6,219,300 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
TOTAL CURRENT LIABILITIES |
413,767,477 |
485,121,656 |
157,230,185 |
190,386,628 |
182,743,738 |
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---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
NET CURRENT ASSETS/(LIABILITIES) |
231,570,004 |
316,048,437 |
400,404,581 |
265,577,077 |
164,058,600 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
18,368,605 |
18,699,471 |
3,735,883 |
3,133,824 |
12,367,547 |
|
Others |
- |
123,146 |
1,588,943 |
1,596,161 |
1,513,397 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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TOTAL LONG TERM LIABILITIES |
18,368,605 |
18,822,617 |
5,324,826 |
4,729,985 |
13,880,944 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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|
TOTAL NET ASSETS |
643,664,631 |
693,962,794 |
729,790,264 |
556,797,095 |
451,298,008 |
|
============= |
============= |
============= |
============= |
============= |
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FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
29,300,000 |
29,300,000 |
29,300,000 |
29,300,000 |
29,300,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
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TOTAL SHARE CAPITAL |
29,300,000 |
29,300,000 |
29,300,000 |
29,300,000 |
29,300,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
617,079,146 |
664,856,655 |
700,490,264 |
527,497,095 |
421,998,008 |
|
Others |
(2,714,515) |
(193,861) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
614,364,631 |
664,662,794 |
700,490,264 |
527,497,095 |
421,998,008 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
643,664,631 |
693,962,794 |
729,790,264 |
556,797,095 |
451,298,008 |
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============= |
============= |
============= |
============= |
============= |
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FINANCIAL RATIO
|
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KERRY INGREDIENTS (M) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
9,171,040 |
27,496,763 |
148,130,716 |
45,024,671 |
34,234,645 |
|
Net Liquid Funds |
9,171,040 |
27,496,763 |
148,130,716 |
45,024,671 |
34,234,645 |
|
Net Liquid Assets |
77,327,086 |
129,640,465 |
260,091,991 |
132,417,896 |
74,259,135 |
|
Net Current Assets/(Liabilities) |
231,570,004 |
316,048,437 |
400,404,581 |
265,577,077 |
164,058,600 |
|
Net Tangible Assets |
608,854,222 |
654,620,003 |
686,019,651 |
511,905,981 |
406,500,546 |
|
Net Monetary Assets |
58,958,481 |
110,817,848 |
254,767,165 |
127,687,911 |
60,378,191 |
|
PROFIT & LOSS ITEMS |
|||||
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Earnings Before Interest & Tax (EBIT) |
46,282,521 |
39,189,458 |
283,899,252 |
163,490,637 |
156,647,391 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
77,986,408 |
63,455,214 |
300,372,377 |
182,193,175 |
171,081,433 |
|
BALANCE SHEET ITEMS |
|||||
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Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
432,136,082 |
503,944,273 |
162,555,011 |
195,116,613 |
196,624,682 |
|
Total Assets |
1,075,800,713 |
1,197,907,067 |
892,345,275 |
751,913,708 |
647,922,690 |
|
Net Assets |
643,664,631 |
693,962,794 |
729,790,264 |
556,797,095 |
451,298,008 |
|
Net Assets Backing |
643,664,631 |
693,962,794 |
729,790,264 |
556,797,095 |
451,298,008 |
|
Shareholders' Funds |
643,664,631 |
693,962,794 |
729,790,264 |
556,797,095 |
451,298,008 |
|
Total Share Capital |
29,300,000 |
29,300,000 |
29,300,000 |
29,300,000 |
29,300,000 |
|
Total Reserves |
614,364,631 |
664,662,794 |
700,490,264 |
527,497,095 |
421,998,008 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
18.60 |
5.77 |
4.62 |
26.62 |
32.65 |
|
Proft/(Loss) Before Tax |
18.10 |
(86.20) |
73.65 |
4.80 |
100.34 |
|
Proft/(Loss) After Tax |
71.52 |
(91.30) |
68.95 |
10.38 |
98.50 |
|
Total Assets |
(10.19) |
34.24 |
18.68 |
16.05 |
42.39 |
|
Total Liabilities |
(14.25) |
210.01 |
(16.69) |
(0.77) |
26.47 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.02 |
0.06 |
0.94 |
0.24 |
0.19 |
|
Liquid Ratio |
1.19 |
1.27 |
2.65 |
1.70 |
1.41 |
|
Current Ratio |
1.56 |
1.65 |
3.55 |
2.39 |
1.90 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
38 |
54 |
43 |
43 |
37 |
|
Debtors Ratio |
37 |
47 |
50 |
43 |
37 |
|
Creditors Ratio |
42 |
38 |
45 |
71 |
72 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.67 |
0.73 |
0.22 |
0.35 |
0.44 |
|
Times Interest Earned Ratio |
0 |
0 |
0 |
0 |
243.64 |
|
Assets Backing Ratio |
20.78 |
22.34 |
23.41 |
17.47 |
13.87 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
3.10 |
3.12 |
23.88 |
14.38 |
17.38 |
|
Net Profit Margin |
2.83 |
1.96 |
23.80 |
14.74 |
16.91 |
|
Return On Net Assets |
7.19 |
5.65 |
38.90 |
29.36 |
34.71 |
|
Return On Capital Employed |
6.64 |
5.21 |
36.45 |
26.96 |
30.72 |
|
Return On Shareholders' Funds/Equity |
6.56 |
3.55 |
38.78 |
30.08 |
33.62 |
|
Dividend Pay Out Ratio (Times) |
2.13 |
2.45 |
0.39 |
0.37 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
|
MYR |
1 |
INR 16.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.