MIRA INFORM REPORT

Report No. :	502490
Report Date :	12.04.2018

IDENTIFICATION DETAILS

Name :	EVERGREEN FIBREBOARD BERHAD
Formerly Known As :	EVERGREEN FIBREBOARD SDN BHD (14/04/2004) TAT WEE INDUSTRIES (M) SDN BHD (08/12/1992)
Registered Office :	Suite 6.1a, Level 6, Menara Pelangi, Jalan Kuning, Taman Pelangi, 80400 Johor Bahru, Johor
Country :	Malaysia
Financials (as on) :	31.12.2016
Date of Incorporation :	15.05.1991
Com. Reg. No.:	217120-W
Legal Form :	Public (Limited by Share)
Line of Business :	Subject is principally engaged in the manufacture of medium density fibreboard & wooden furniture.
No. of Employees :	2300

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Excellent
Payment Behaviour :	Regular
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.

:

217120-W

GST NO.

:

000281018368

COMPANY NAME

:

EVERGREEN FIBREBOARD BERHAD

FORMER NAME

:

EVERGREEN FIBREBOARD SDN BHD (14/04/2004)
TAT WEE INDUSTRIES (M) SDN BHD (08/12/1992)

INCORPORATION DATE

:

15/05/1991

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PUBLIC (LIMITED BY SHARE)

LISTED STATUS

:

YES

LISTED DATE

:

10/03/2005

REGISTERED ADDRESS

:

SUITE 6.1A, LEVEL 6, MENARA PELANGI, JALAN KUNING, TAMAN PELANGI, 80400 JOHOR BAHRU, JOHOR, MALAYSIA.

BUSINESS ADDRESS

:

PLO 22, PARIT RAJA INDUSTRIAL ESTATE, PARIT RAJA, 86400 BATU PAHAT, JOHOR, MALAYSIA.

TEL.NO.

:

07-4541933

FAX.NO.

:

07-4542933

WEB SITE

:

WWW.EVERGREENGROUP.COM.MY

CONTACT PERSON

:

KUO JEN CHANG ( CEO )

INDUSTRY CODE

:

16212 31

PRINCIPAL ACTIVITY

:

MANUFACTURE OF MEDIUM DENSITY FIBREBOARD & WOODEN FURNITURE

AUTHORISED CAPITAL

:

MYR 300,000,000.00 DIVIDED INTO 
ORDINARY SHARE 1,200,000,000.00 OF MYR 0.25 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 211,605,996.30 DIVIDED INTO 
ORDINARY SHARES 846,001,985 CASH OF MYR 0.25 EACH.
TREASURY SHARES 422,000 CASH OF MYR 0.25 EACH.

SALES

:

MYR 997,794,615 [2016]

NET WORTH

:

MYR 1,152,141,741 [2016]

M1000 OVERALL RANKING

:

464[2011]

M1000 INDUSTRY RANKING

:

2[2011]

STAFF STRENGTH

:

2300 - GROUP [2018]

BANKER (S)

:

CITIBANK BHD HSBC BANK MALAYSIA BHD RHB BANK BHD AMBANK (M) BHD BANGKOK BANK PUBLIC COMPANY LTD CIMB BANK BHD THE BANK OF NOVA SCOTIA BHD MALAYAN BANKING BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

Regular

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

HISTORY / BACKGROUND

As a public limited company, the Subject must have at least one shareholder but there is no limit on the maximum number of shareholders. The Subject must have at least two directors. A public 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 liabilities of the shareholders are only up 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 must file in its annual return, together with its financial statements with the Registrar of Companies. In Malaysia, all the companies seeking listing on the Bursa Malaysia (Malaysia Stock Exchange) must be public limited companies.

The Subject is principally engaged in the (as a / as an) manufacture of medium density fibreboard & wooden furniture.

The Subject was listed on the Main Board of Bursa Malaysia Securities Bhd on 10/03/2005

According to the Malaysia 1000 publication, the Subject's ranking are as follows:
YEAR	2011	2009	2008
OVERALL RANKING	464	416	516
INDUSTRY RANKING	2	2	2

Former Address(es)

Address	As At Date
LEVEL 26,MENARA MULTI-PURPOSE, CAPITAL SQUARE, 8,JLN.MUNSHI ABDULLAH;K.L, 50100, WILAYAH PERSEKUTUAN, MALAYSIA	15/02/2013

Share Capital History

Date	Authorised Shared Capital	Issue & Paid Up Capital
26/09/2016	MYR 300,000,000.00	MYR 211,605,996.30
31/12/2015	MYR 300,000,000.00	MYR 141,072,500.00
31/03/2015	MYR 300,000,000.00	MYR 128,250,000.00
31/03/2014	MYR 300,000,000.00	MYR 128,244,500.00

The major shareholder(s) of the Subject are shown as follows :

Current Shareholder(s) :

Name	Address	IC/PP/Loc No	Shareholding	(%)
KUO JEN CHANG +	8, WESTRIDGE WALK, 117824, SINGAPORE.	E3845342B	142,355,865.00	16.83
KUO JEN CHIU +	12, WEST COAST CRESCENT, 05-01 WESTCOVE CONDO, 12804, SINGAPORE.	E4559237C	124,120,141.00	14.67
EMPLOYEES PROVIDENT FUND BOARD	TINGKAT 19, BANGUNAN KWSP, JALAN RAJA LAUT, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.	EPF ACT 1991	41,949,400.00	4.96
HSBC NOMINEES (ASING) SDN BHD - EXEMPT AN FOR CREDIT SUISSE	-	-	39,205,500.00	4.63
KUO HUEI CHEN	31, MT. SINAI RISE, 04-07 276953 ,SINGAPORE	2183847J	35,053,579.00	4.14
HSBC NOMINEES (ASING) SDN BHD - EXEMPT AN FOR CITIBANK NEW YORK	-	-	22,216,000.00	2.63
AMANAHRAYA TRUSTEES BERHAD - PUBLIC ISLAMIC OPPORTUNITIES FUND	-	-	18,110,800.00	2.14
HSBC NOMINEES (TEMPATAN) SDN BHD - HSBC (M) TRUSTEE BHD FOR ALLIANZ LIFE INSURANCE MALAYSIA BERHAD	-	-	13,656,800.00	1.61
KUO-TING YER PING	10, JALAN HANG KASTURI 1/2, EAST LEDANG, 79250 NUSAJAYA, JOHOR, MALAYSIA.	E2166822J	13,553,094.00	1.60
HSBC NOMINEES (TEMPATAN) SDN BHD - HSBC (M) TRUSTEE BHD FOR RHB SMART TREASURE FUND	-	-	13,000,000.00	1.54
CIMB GROUP NOMINEES (ASING) SDN. BHD. - EXEMPT AN FOR DBS BANK LTD	-	-	11,231,800.00	1.33
MS. MARY HENERIETTA LIM KIM NEO +	38, JALAN ROTAM AIR, TAMAN SERI JAYA, 83000 BATU PAHAT, JOHOR, MALAYSIA.	640110-05-6028 A0323115	6.00	0.00
REMAINING SHAREHOLDERS	-	-	371,549,000.00	43.92
			---------------	------
			846,001,985.00	100.00
			============	=====

+ Also Director

Former Shareholder(s) :

Name	Country	IC/PP/Loc No	Shareholding	Last Updated
A SUKOR RASHID	MALAYSIA	680219-01-5787	N/A	N/A
ABD MALIK RIDZUAN JAAFAR	MALAYSIA	731022-01-5713	N/A	N/A
ALBERT ALEVANDER VAZ	MALAYSIA	580312-01-5409	N/A	N/A
ALLIANCEGROUP NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	42234H	34,354,800.00	N/A
ALLIANZ LIFE INSURANCE MALAYSIA BERHAD	MALAYSIA	104248X	N/A	N/A
AMANAH RAYA NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	434217U	5,782,000.00	N/A
AMANAHRAYA TRUSTEES BERHAD	MALAYSIA	766894T	18,110,800.00	N/A
AMIR MOHAMED	MALAYSIA	740418-01-5773	N/A	N/A
AMMB NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	51181W	14,800,000.00	N/A
AMSEC NOMINEES (ASING) SDN. BHD.	MALAYSIA	258515D	N/A	N/A
AMSEC NOMINEES (TEMPATAN) SDN BHD AMTRUSTEE BERHAD FOR PACIFIC PEARTL FUND	MALAYSIA	XLZ00220179	4,039,800.00	N/A
AMSEC NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	102918T	17,318,200.00	22/08/2017
ASSETS NOMINEES (ASING) SDN. BHD.	MALAYSIA	260387K	8,267,900.00	N/A
BANK KERJASAMA RAKYAT MALAYSIA A/C KUMP DARUL EHSAN BERHAD	N/A	000001854	8,771,000.00	N/A
BOH WEE ENG	MALAYSIA	5638665	N/A	N/A
CARTABAN NOMINEES (ASING) SDN. BHD.	MALAYSIA	263367W	N/A	N/A
CARTABAN NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	263368K	9,460,550.00	22/08/2017
CESFIELD DEVELOPMENT SDN. BHD.	MALAYSIA	644245T	4,960,027.00	N/A
CHIENG HENG NANG	MALAYSIA	700512-13-5337	N/A	N/A
CHRISTOPHER BLAISE MARSHALL	MALAYSIA	610202-01-5701	N/A	N/A
CHUAH LIANG HEE	MALAYSIA	531212-08-5556	N/A	N/A
CIMB GROUP NOMINEES (ASING) SDN. BHD.	MALAYSIA	274737T	11,231,800.00	N/A
CIMB GROUP NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	274740T	15,680,750.00	22/08/2017
CIMB ISLAMIC NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	8424H	5,310,000.00	N/A
CIMSEC NOMINEES (ASING) SDN. BHD.	MALAYSIA	265422M	1,328,000.00	N/A
CIMSEC NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	265449P	7,264,200.00	N/A
CITIGROUP NOMINEES (ASING) SDB BHD FOR DIMENSIONAL EMERGING MARKETS VALUE FUND	N/A	XLZ00220183	N/A	N/A
CITIGROUP NOMINEES (ASING) SDB BHD FOR UBS AG HONG KONG	MALAYSIA	XLZ00220182	72,746,761.00	N/A
CITIGROUP NOMINEES (ASING) SDN. BHD.	MALAYSIA	263875D	33,342,550.00	N/A
CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	267011M	46,906,550.00	N/A
DB (MALAYSIA) NOMINEE (ASING) SDN. BHD.	MALAYSIA	317329W	9,277,926.00	22/08/2017
DB (MALAYSIA) NOMINEE (TEMPATAN) SENDIRIAN BERHAD	MALAYSIA	66878U	6,082,750.00	N/A
EB GLOBAL JV SDN. BHD.	MALAYSIA	266701P	N/A	N/A
EVAWORLD SDN. BHD.	MALAYSIA	644836D	7,079,290.00	N/A
GAN KIM SWEE	N/A	641105-01-5947	N/A	N/A
HASLINI HIDIR	MALAYSIA	680615-10-5928	N/A	N/A
HENRY KUO	MALAYSIA	076197483	10,795,955.00	N/A
HLB NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	47697U	6,514,300.00	N/A
HLG NOMINEE (ASING) SDN. BHD.	MALAYSIA	250883D	N/A	N/A
HSBC NOMINEES (ASING) SDN. BHD.	MALAYSIA	4381U	39,709,500.00	N/A
HSBC NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	258854D	35,048,300.00	N/A
HSU MEI LAN	N/A	2178072C	N/A	N/A
HUME FIBREBOARD SDN. BHD.	MALAYSIA	126747H	N/A	N/A
JEFFERY KUO	MALAYSIA	076197485	10,785,955.00	N/A
JEFFREY S KUO	MALAYSIA	029826543	10,785,955.00	N/A
JIMMY LIEW KATE LEONG	MALAYSIA	790504-13-5013	N/A	N/A
JONY RAW	N/A	560316035193	5,967,000.00	N/A
JUSTIN KUO	MALAYSIA	076197484	10,785,955.00	N/A
KE-ZAN NOMINEES (ASING) SDN. BHD.	MALAYSIA	257871M	7,628,700.00	N/A
KUMARAN S/O KARUMBAN	N/A	540528-01-5161	N/A	N/A
KUO SZE CHENG	MALAYSIA	134239922	10,795,955.00	N/A
KUO SZE HORNG	MALAYSIA	500011551	10,785,955.00	N/A
KUO SZE LIANG	MALAYSIA	135013620	4,517,698.00	N/A
KUO, SZE HORNG	MALAYSIA	135013619	4,517,698.00	N/A
LEE MENG WEI	MALAYSIA	700817-05-5215	N/A	N/A
LEMBAGA TABUNG HAJI	MALAYSIA	00004900	38,933,800.00	N/A
LIM CHIAN PENG	MALAYSIA	560429-04-5259	4,000,000.00	N/A
LIM CHOON KIONG	MALAYSIA	5833258	N/A	N/A
LIM SENG CHEONG	N/A	610121-08-5839	N/A	N/A
LOO MUN HUI	MALAYSIA	740330-05-5279	N/A	N/A
MALAYSIA NOMINEES (TEMPATAN) SENDIRIAN BERHAD	MALAYSIA	6193K	16,138,000.00	N/A
MALAYSIAN ASSURANCE ALLIANCE BERHAD	MALAYSIA	00021649	12,144,200.00	N/A
MAYBANK NOMINEES (ASING) SDN. BHD.	MALAYSIA	258956H	7,150,000.00	N/A
MAYBANK NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	258939H	35,959,400.00	22/08/2017
MAYBANK SECURITIES NOMINEES (ASING) SDN BHD MAYBANK KIM ENG SECURITIES PTE LTD FOR LOH YIH	MALAYSIA	XLZ00220291	N/A	N/A
MAYBANK SECURITIES NOMINEES (ASING) SDN BHD MAYBANK KIM ENG SECURITIES PTE LTD FOR MGF CAPITAL LIMIT	N/A	XLZ00220290	7,707,700.00	N/A
MAYBANK SECURITIES NOMINEES (ASING) SDN. BHD.	MALAYSIA	284592K	7,500,000.00	N/A
MOHD ALKAF BIN MOHD KAHAR	MALAYSIA	481007-08-5845	7,460,065.00	N/A
MOHD YAZID JAMAHAT	MALAYSIA	660801-01-6189	N/A	N/A
NG CHENG FAH	MALAYSIA	580902-01-5193	N/A	N/A
NG PAIK PHENG	MALAYSIA	570112-08-6190	3,934,300.00	N/A
OSK NOMINEES (ASING) SDN. BERHAD	MALAYSIA	257494A	12,646,000.00	N/A
OTHER	N/A	XLZ00212281	N/A	N/A
OTHERS	N/A	00001348	N/A	N/A
PHILIP WONG HWEE LIH	N/A	680303-04-5081	N/A	N/A
PUBLIC INVEST NOMINEES (ASING) SDN BHD, EXEMPTY FOR PHILLOP SECURITIES PTE LTD	N/A	XLZ00220180	N/A	N/A
PUBLIC INVEST NOMINEES (ASING) SDN. BHD.	MALAYSIA	262581D	3,367,100.00	N/A
PUBLIC NOMINEES (TEMPATAN) SDN. BHD.	MALAYSIA	6464T	5,164,800.00	N/A
RABINDRAN A/L MUTHU	MALAYSIA	640506-01-5695	N/A	N/A
RAJENDREN S/O MUTHU	MALAYSIA	610624-01-5453	N/A	N/A
RASHID ATAN	MALAYSIA	720719-01-6093	N/A	N/A
RAZID BIN BAHAROM	N/A	641008-01-5929	N/A	N/A
RHB NOMINEES (ASING) SDN BHD, MAYBANK KIM ENG SECURITIES PTE LTD EXDUISTE HALDING LIMITED	N/A	XLZ00220178	N/A	N/A
RHB NOMINEES (ASING) SDN. BHD.	MALAYSIA	259065D	6,142,500.00	22/08/2017
TAN MENG HOW	MALAYSIA	690719-01-5731	N/A	N/A
TEE KIM FOOM	MALAYSIA	670301-01-5154	N/A	N/A
TOKIO MARINE LIFE INSURANCE MALAYSIA BHD.	MALAYSIA	457556X	6,100,000.00	N/A
UNIVERSAL TRUSTEE (MALAYSIA) BERHAD	MALAYSIA	17540D	5,349,100.00	N/A
UOB KAY HIAN NOMINEES (ASING) SDN. BHD.	MALAYSIA	262422A	4,901,500.00	N/A
WONG AH CHAI	MALAYSIA	511001-05-5447	N/A	N/A

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No	Country	Company	Status	(%)	As At
567960T	MALAYSIA	ALLGREEN TIMBER PRODUCTS SDN. BHD.	-	100.00	26/03/2018
958479K	MALAYSIA	CRAFT MASTER TIMBER PRODUCTS SDN. BHD.	-	100.00	26/03/2018
951761U	MALAYSIA	CRAFT MASTERS SDN. BHD.	Disolved	25.50	26/03/2018
32799M	MALAYSIA	DAWA TIMBER INDUSTRIES (M) SDN. BHD.	-	100.00	26/03/2018
	THAILAND	ECO GENERATION CO. LTD	-	99.99	31/12/2016
908762W	MALAYSIA	EVERGREEN ADHESIVE & CHEMICALS (GURUN) SDN. BHD.	-	100.00	26/03/2018
757659T	MALAYSIA	EVERGREEN ADHESIVE & CHEMICALS SDN. BHD.	-	100.00	26/03/2018
942013D	MALAYSIA	EVERGREEN AGRO SDN. BHD.	-	100.00	26/03/2018
184661A	MALAYSIA	EVERGREEN DECOR PRODUCTS (M) SDN. BHD.	Disolved	100.00	26/03/2018
200820980R	SINGAPORE	EVERGREEN ECO WOOD PTE. LTD.	-	100.00	31/12/2016
751664M	MALAYSIA	EVERGREEN FIBREBOARD (JB) SDN. BHD.	-	100.00	26/03/2018
822113U	MALAYSIA	EVERGREEN FIBREBOARD (NILAI) SDN BHD	-	100.00	26/03/2018
320623U	MALAYSIA	EVERGREEN MOLDED PANELS SDN. BHD.	Disolved	100.00	26/03/2018
926789W	MALAYSIA	EVERGREEN PLANTATION RESOURCES SDN. BHD.	-	100.00	26/03/2018
1131544K	MALAYSIA	EVERLATT SOURCING SDN. BHD.	-	100.00	26/03/2018
	THAILAND	GRE ENERGY CO. LTD	-	99.99	31/12/2016
461145D	MALAYSIA	JASA WIBAWA SDN. BHD.	-	100.00	26/03/2018
952365P	MALAYSIA	LOCOMOTION SERVICES SDN. BHD.	-	100.00	26/03/2018
	INDONESIA	PT HIJAU LESTARI RAYA FIBREBOARD	-	51.00	31/12/2016
191543V	MALAYSIA	RUENTEX INDUSTRIES (M) SDN. BHD.	Disolved	100.00	26/03/2018
	THAILAND	SIAM FIBREBOARD COMPANY LIMITED	-	99.99	31/12/2016

DIRECTORS

DIRECTOR 1

Name Of Subject	:	HENRY S KUO
Address	:	305, TRINITY COURT, APT 8, PRINCETON, NEW JERSEY, UNITED STATES.
IC / PP No	:	470774318
Date of Appointment	:	04/03/2016

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	32799M	DAWA TIMBER INDUSTRIES (M) SDN. BHD.	Director	23/11/2009	0.00	-	MYR202,190.00	2016	-	26/03/2018
2	217120W	EVERGREEN FIBREBOARD BERHAD	Director	04/03/2016	0.00	-	MYR67,947,449.00	2016	-	26/03/2018

DIRECTOR 2

Name Of Subject	:	MR. YAP PENG LEONG
Address	:	38-02, MONT' KIARA DAMAI, 3, JALAN KIARA 2, MONT' KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No	:	4759686
New IC No	:	550307-10-6253
Date of Birth	:	07/03/1955
Nationality	:	MALAYSIAN
Date of Appointment	:	04/08/2014

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	217120W	EVERGREEN FIBREBOARD BERHAD	Director	04/08/2014	0.00	-	MYR67,947,449.00	2016	-	26/03/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	260935T	ABLE STEEL PIPES SDN. BHD.	Director	19/04/1993	12/04/1995	-	-
2	267844V	ALPINE PIPE MANUFACTURING SDN. BHD.	Director	01/08/2012	01/02/2013	-	-
3	53945H	BEKAERT IPOH SDN. BHD.	Director	02/07/2002	06/05/2008	-	-
4	409923P	HIAP TECK RESOURCES SDN. BHD.	Director	01/08/2012	01/02/2013	-	-
5	275807T	HLMG MANAGEMENT CO SDN. BHD.	Director	01/11/2001	06/02/2006	-	-
6	99586K	HLMG REALTY SDN. BHD.	Director	22/04/2003	17/08/2004	-	-
7	126747H	HLY MARINE SDN. BHD.	Director	31/05/1999	31/10/2003	-	-
8	579898W	HUME CEMBOARD INDUSTRIES SDN. BHD.	Director	28/02/2003	17/01/2006	-	-
9	209211T	HUME CEMENT SDN. BHD.	Director	30/07/2001	02/07/2002	-	-
10	123199T	HUME CONCRETE (EM) SDN. BHD.	Director	22/04/2003	17/08/2004	-	-
11	257088A	HUME CONCRETE PRODUCTS RESEARCH CENTRE SDN. BHD.	Director	22/04/2003	17/08/2004	-	-
12	62227X	HUME INDUSTRIES BERHAD	Director	01/01/2001	01/03/2003	-	-
13	114423T	HUME RMC SDN. BHD.	Director	28/05/1999	24/11/2000	-	-
14	225308M	HUME ROOFING PRODUCTS SDN. BHD.	Director	31/05/1999	28/09/2000	-	-
15	32369W	INDUSTRIAL CONCRETE PRODUCTS SDN. BHD.	Director	23/03/2001	23/06/2004	-	-
16	105431H	JEKS PRECAST PRODUCTS SDN. BHD.	Director	01/07/2001	30/09/2003	-	-
17	210034H	JELUTONG DEVELOPMENT SDN. BHD.	Director	01/07/2001	26/09/2002	-	-
18	170775A	JETAMA SDN. BHD.	Director	-	01/08/2001	-	-
19	176709H	KAMI BUILDERS SDN. BHD.	Director	14/01/1999	26/09/2002	-	-
20	489604W	MALEX INDUSTRIAL PRODUCTS SDN. BHD.	Director	31/07/2000	17/01/2006	-	-
21	7451M	SOUTHERN PIPE INDUSTRY (MALAYSIA) SDN. BHD.	Director	02/07/2002	18/04/2008	-	-
22	5283X	SOUTHERN STEEL BERHAD	Director	27/06/2002	06/05/2008	-	-
23	173467M	SOUTHERN STEEL HOLDINGS SDN. BHD.	Director	01/07/2002	06/05/2008	-	-
24	65949T	SOUTHERN STEEL MESH SDN. BHD.	Director	20/02/2003	06/05/2008	-	-
25	206031P	UNITED-SEINO TRANSPORTATION (MALAYSIA) SDN. BHD.	Director	19/02/1992	01/04/1995	-	-

DIRECTOR 3

Name Of Subject	:	MR. JONATHAN LAW NGEE SONG
Address	:	22-4-1, GEMILANG INDAH, 22, JALAN 2/110A, JALAN KLANG LAMA, 58000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
Other Address(es)	:	B3-1-16 SOLARIS DUTAMAS, NO.1, JALAN DUTAMAS, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
New IC No	:	660103-13-5957
Date of Birth	:	03/01/1966
Nationality	:	MALAYSIAN
Date of Appointment	:	08/01/2007

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	655158P	ACROMAJU HOLDINGS SDN. BHD.	Secretary Director	04/05/2009 04/05/2009	0.00	-	-	2016	-	26/03/2018
2	1077645W	AGATHISFOUR SDN. BHD.	Shareholder	-	500,000.00	1.67	MYR(15,219,056.00)	2017	-	26/03/2018
3	815092X	BIONIS SDN. BHD.	Director	30/04/2008	99,999.00	100.00	MYR(385,858.00)	2017	-	26/03/2018
4	619341A	CHATEAU NETWORK SDN. BHD.	Secretary Director	04/05/2009 04/05/2009	0.00	-	-	2016	Disolved by Registrar	26/03/2018
5	217120W	EVERGREEN FIBREBOARD BERHAD	Director	08/01/2007	0.00	-	MYR67,947,449.00	2016	-	26/03/2018
6	1143128U	FUJI STREAMS SDN. BHD.	Director	01/10/2015	140,000.00	70.00	MYR(44,650.00)	2016	-	26/03/2018
7	863270H	GERBANG KAPITAL SDN. BHD.	Secretary Director	17/07/2009 17/07/2009	104,974.00	49.99	MYR(84,087.00)	2017	-	26/03/2018
8	1076382W	INDEKS NALURI SDN. BHD.	Director Secretary	15/07/2016 04/10/2016	10,000.00	10.00	MYR(112,632.00)	2016	-	26/03/2018
9	743118K	JASDANIS ENTERPRISE SDN. BHD.	Director	28/08/2006	178,500.00	51.00	MYR332,153.00	2016	-	26/03/2018
10	1018579U	KAREX BERHAD	Director	30/11/2012	0.00	-	MYR59,730,000.00	2015	-	26/03/2018
11	813313W	MAPLE SUCCESS SDN. BHD.	Director	18/05/2009	239,900.00	47.98	MYR(224,818.00)	2017	-	26/03/2018
12	1183985V	MERRYCUBES SDN. BHD.	Secretary	27/06/2016	0.00	-	-	2016	-	26/03/2018
13	1037702V	MUSTIKA RESTU SDN. BHD.	Director	28/04/2014	0.00	-	MYR(21,017.00)	2017	-	26/03/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	526635W	AVONWELL SDN. BHD.	Director	29/11/2001	31/07/2004	-	-
2	993928U	CALLISTON HOLDINGS (S) PTE. LTD.		26/01/1999	01/10/2001	-	-
3	993928U	CALLISTON HOLDINGS (S) PTE. LTD.	Secretary	26/01/1999	01/10/2001	-	-
4	461145D	JASA WIBAWA SDN. BHD.	Director	15/03/2012	19/08/2016	-	-
5	862279T	JEK FOOD SPECIALISTS SDN. BHD.	Director	27/07/2009	31/05/2010	-	-
6	862279T	JEK FOOD SPECIALISTS SDN. BHD.	Shareholder	-	-	-	-
7	348034U	LINFOX M LOGISTICS (MALAYSIA) SDN. BHD.	Director	23/06/1995	09/02/1996	-	-
8	138179A	SCHAWK IMAGING SDN. BHD.	Director	14/09/1999	23/05/2002	-	-
9	866633D	SOVEREIGN PARADISE SDN. BHD.	Director	20/08/2009	09/01/2011	-	-
10	668781D	UPECA TECHNOLOGIES SDN. BHD.	Director	07/04/2011	04/04/2014	-	-

DIRECTOR 4

Name Of Subject	:	KUO WEN CHI
Address	:	8, WESTRIDGE WALK, 117824, SINGAPORE.
IC / PP No	:	E2710931B
Date of Appointment	:	15/05/1991

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	217120W	EVERGREEN FIBREBOARD BERHAD	Director	15/05/1991	0.00	-	MYR67,947,449.00	2016	-	26/03/2018

DIRECTOR 5

Name Of Subject	:	MR. KUAN KAI SENG
Address	:	37A, JALAN KUNDANG 4, TAMAN BUKIT PASIR, 83000 BATU PAHAT, JOHOR, MALAYSIA.
Other Address(es)	:	NO. 23, JALAN BAWAL,, TAMAN BANANG,, 83000 BATU PAHAT, JOHOR, MALAYSIA.
IC / PP No	:	A2786302
New IC No	:	740629-01-5247
Date of Birth	:	29/06/1974
Nationality	:	MALAYSIAN
Date of Appointment	:	05/06/2014

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	940606M	AWESOME CHEMICAL SDN. BHD.	Secretary	26/08/2011	0.00	-	MYR(97,192.00)	2013	Disolved by Registrar	26/03/2018
2	217120W	EVERGREEN FIBREBOARD BERHAD	Director	05/06/2014	0.00	-	MYR67,947,449.00	2016	-	26/03/2018
3	930702U	EXCELLENCE BENZ CARCARE SDN. BHD.	Secretary	24/01/2011	0.00	-	MYR(100,340.00)	2014	Disolved by Registrar	26/03/2018
4	223913A	GOODWILL VENTURES SDN. BHD.	Secretary	27/07/2012	0.00	-	MYR(963.00)	2012	Winding-Up by High Court	26/03/2018
5	612797T	KARYON INDUSTRIES BERHAD	Director	06/08/2009	0.00	-	MYR4,634,585.00	2016	-	26/03/2018
6	1035421A	PROPER TAXATION MANAGEMENT SDN BHD	Director	15/11/2014	1.00	50.00	MYR15,581.00	2017	-	26/03/2018
7	1204412W	SHANG HOE TRADING SDN. BHD.	Secretary	11/10/2016	0.00	-	-	2017	-	26/03/2018
8	609304X	XIAN LENG AQUATIC (KLUANG) SDN. BHD.	Director	20/04/2012	0.00	-	MYR12,071.00	2017	-	26/03/2018
9	576523D	XIAN LENG AQUATIC (SHAH ALAM) SDN. BHD.	Director	20/04/2012	0.00	-	MYR(7,671.00)	2016	-	26/03/2018
10	353889X	XIAN LENG AQUATIC MERCHANT SDN. BHD.	Director	03/04/2012	0.00	-	MYR73,658.00	2017	-	26/03/2018
11	468142U	XIAN LENG HOLDINGS BERHAD	Director	03/04/2012	0.00	-	MYR(3,876,981.00)	2017	-	26/03/2018
12	186961A	XIAN LENG TRADING SDN. BHD.	Director	03/04/2012	0.00	-	MYR(3,950,496.00)	2017	-	26/03/2018

INTEREST IN BUSINESS

No	Local No	Business	Designation	App Date	Shareholding (%)	Status	As At
1	JM0454171M	WIN SUCCESS ENTERPRISE	SOLE PROPRIETORSHIP	15/05/2006	100.00	Expired	26/03/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	978055V	365 DISCOVERY SDN. BHD.	Secretary	14/02/2012	12/05/2014	-	-
2	1031196X	AMCON SYSTEMS SDN. BHD.	Secretary	11/01/2013	10/06/2014	-	-
3	598733D	AVENUE ENTITY SDN. BHD.	Secretary	29/08/2012	31/07/2014	-	-
4	218176A	B.P. LUCKY SDN. BHD.	Secretary	17/02/2011	05/03/2014	-	-
5	830500T	BS JAYA TRADING SDN. BHD.	Secretary	30/06/2009	12/03/2014	-	-
6	677228T	CASA GREEN OLEOCHEMICALS SDN. BHD.	Secretary	01/04/2010	13/03/2014	-	-
7	749515X	CHONG LEE NURSERY SDN. BHD.	Secretary	15/12/2007	24/07/2014	-	-
8	986067X	CITY HARDWARE TRADING SDN BHD	Secretary	10/04/2012	12/03/2014	-	-
9	1007266H	CONCORD WEALTH MANAGEMENT SDN. BHD.	Secretary	02/07/2012	21/02/2014	-	-
10	1020126A	CTTP CAPITAL SDN. BHD.	Secretary	09/10/2012	30/01/2014	-	-
11	314324D	E.S.NG BUILDING PRODUCTS SDN. BHD.	Secretary	01/09/2006	31/03/2008	-	-
12	348957D	E.S.NG HOLDINGS SDN. BHD.	Secretary	01/09/2006	31/03/2008	-	-
13	954050D	EK HAIR & BEAUTY SDN. BHD.	Secretary	22/07/2011	06/03/2014	-	-
14	907921W	FIRST PACIFIC TEXTILES SDN. BHD.	Secretary	08/09/2011	15/07/2013	-	-
15	1011378M	FULL TANK MARKETING SDN. BHD.	Secretary	25/07/2013	14/04/2014	-	-
16	707230M	GERBANG PRIMA SDN. BHD.	Secretary	16/01/2012	12/03/2014	-	-
17	984637M	GOLDEN DESSERT SDN. BHD.	Secretary	30/03/2012	27/11/2014	-	-
18	800498V	HUAT TAT SOON SDN. BHD.	Secretary	24/12/2007	30/07/2014	-	-
19	966007P	I 789 BISTRO & CAFE SDN. BHD.	Secretary	12/12/2012	23/07/2014	-	-
20	664741X	INNOVACION CONTENEDOR SDN. BHD.	Secretary	01/04/2010	26/02/2014	-	-
21	972530K	JADELINE EXTREME SDN. BHD.	Secretary	11/01/2012	25/09/2014	-	-
22	203678M	JAYAFUDA DEVELOPMENT SDN. BHD.	Secretary	01/09/2006	31/03/2008	-	-
23	337140M	JAYAFUDA TIMUR SDN. BHD.	Secretary	01/09/2006	31/03/2008	-	-
24	671503V	JEJAK IDENTITI SDN. BHD.	Secretary	16/01/2012	12/03/2014	-	-
25	1029348T	KENGLOBAL SDN. BHD.	Secretary	21/03/2013	15/11/2013	-	-
26	799579A	LUMBERLIM SDN. BHD.	Secretary	18/01/2013	23/07/2014	-	-
27	820249D	MAY & HYM ENTERPRISE SDN. BHD.	Secretary	21/11/2011	01/01/2015	-	-
28	514579W	MECHTAMATIC MANUFACTURING (M) SDN. BHD.	Secretary	09/09/2013	10/06/2014	-	-
29	1078875W	MEGA PRO TRADE & MANAGEMENT SDN. BHD.	Secretary	26/01/2014	10/08/2017	-	-
30	828532A	MERRY HORTICULTURE INTERNATIONAL (M) SDN. BHD.	Secretary	23/02/2010	21/02/2014	-	-
31	572739W	MINYAK BEKU AGROTOURISM SDN. BHD.	Secretary	05/07/2006	31/03/2008	-	-
32	477480M	MINYAK BEKU TERMINAL FERI SDN. BHD.	Secretary	01/09/2006	31/03/2008	-	-
33	1071781W	MJA NETWORKS SDN. BHD.	Secretary	27/11/2013	19/09/2014	-	-
34	908571U	MODENA LIVING SDN. BHD.	Secretary	19/07/2010	15/11/2013	-	-
35	1169254T	MODERN LIVING SOLUTION SDN. BHD.	Secretary	17/12/2015	12/01/2018	-	-
36	971688A	MU ZHOU TRADING SDN. BHD.	Secretary	07/07/2012	16/06/2014	-	-
37	982085K	NAN FENG PETROCHEMICAL SDN. BHD.	Secretary	13/03/2012	03/06/2014	-	-
38	250431V	NINE THREE THREE MUSICAL LOUNGE SDN. BHD.	Secretary	01/01/2012	30/05/2014	-	-
39	847703T	NKS SALES & SERVICES SDN. BHD.	Secretary	24/02/2009	01/03/2010	-	-
40	883319A	ONE BUSINESS CENTER SDN. BHD.	Secretary	22/12/2009	06/06/2014	-	-
41	233318K	ORIGINAL CLAY INDUSTRIES SDN. BHD.	Secretary	01/09/2006	31/03/2008	-	-
42	869284K	PASTI WANGI SDN. BHD.	Secretary	27/12/2010	23/07/2014	-	-
43	976081D	PELANGI I CAFE & BISTRO SDN. BHD.	Secretary	20/01/2012	07/06/2016	-	-
44	879751K	PERFECTION MOTORWORKS SDN BHD	Secretary	19/11/2009	22/07/2014	-	-
45	1035421A	PROPER TAXATION MANAGEMENT SDN BHD	Secretary	21/02/2013	16/01/2014	-	-
46	727472V	PUSAT PERABUT IDAMANKU SDN. BHD.	Secretary	28/11/2007	28/10/2014	-	-
47	1057059D	REZEKI MASJAYA SDN. BHD.	Secretary	02/08/2013	05/03/2014	-	-
48	879191P	ROCASA SDN BHD	Secretary	16/11/2009	01/04/2014	-	-
49	1010202H	SCENIC LANDMARK DEVELOPMENT SDN. BHD.	Secretary	02/08/2012	06/05/2015	-	-
50	755561K	SELURUH LOGISTIK SDN. BHD.	Secretary	12/08/2009	12/03/2014	-	-
51	908572V	SERI PUNCAK HARTANAH SDN. BHD.	Secretary	19/07/2010	12/02/2015	-	-
52	963284P	SK MACHINERY TRADING SDN. BHD.	Secretary	07/10/2011	30/01/2014	-	-
53	1204407T	SMARTEC IOT AUTOMATION SDN. BHD.	Secretary	11/10/2016	09/10/2017	-	-
54	89686W	SOH SENG REALTY SDN. BHD.	Secretary	03/01/2012	30/01/2014	-	-
55	877513X	SOLE LANDMARK SDN. BHD.	Secretary	01/12/2010	23/07/2014	-	-
56	667473M	SRI BAYU PRIMA DEVELOPMENT SDN. BHD.	Secretary	16/01/2012	12/03/2014	-	-
57	1057057U	SUPERIOR COOPERATION SDN. BHD.	Secretary	02/08/2013	15/07/2014	-	-
58	646469V	TITIAN KARISMA SDN. BHD.	Secretary	29/04/2011	12/03/2014	-	-
59	642066D	TONGGAK INSPIRASI SDN. BHD.	Secretary	16/01/2012	12/03/2014	-	-
60	646555A	TRANSEASON RESOURCES SDN. BHD.	Secretary	29/04/2011	12/03/2014	-	-
61	1157623T	TW CAPITAL SDN. BHD.	Director	02/09/2015	26/04/2016	-	-
62	1157623T	TW CAPITAL SDN. BHD.	Shareholder	-	-	12000	-
63	1003026X	TWIN SUNRAY SDN. BHD.	Secretary	06/10/2012	24/02/2014	-	-
64	902471M	ULRIC TRADING SDN. BHD.	Secretary	27/05/2010	30/06/2010	-	-
65	1063951M	ULTIMATE COOPERATION SDN. BHD.	Secretary	27/09/2013	15/07/2014	-	-
66	1063934M	VMAX TRADING SDN. BHD.	Secretary	26/09/2013	15/07/2014	-	-
67	1022262V	WHITE CUBE DECOR DESIGN SDN. BHD.	Secretary	25/10/2012	18/03/2014	-	-
68	927159H	WHITE CUBE INTERIOR SDN. BHD.	Secretary	17/02/2011	30/07/2014	-	-
69	371949M	WIRA-ONE ENTERPRISE SDN. BHD.	Secretary	30/12/2011	09/02/2018	-	-
70	620014W	XIAN LENG POULTRY SDN. BHD.	Secretary	22/04/2011	11/03/2014	-	-
71	959630T	XIU YUAN PROPERTY MANAGEMENT SDN. BHD.	Secretary	08/09/2011	11/03/2014	-	-
72	684783U	YONG HUP SOON MOTOR WORKS SDN. BHD.	Secretary	01/01/2010	20/01/2015	-	-

DIRECTOR 6

Name Of Subject	:	MS. NIRMALA A/P DORAISAMY
Address	:	NO.29, JALAN BAYAN 71, TAMAN MEGAH RIA, 81750 MASAI, JOHOR, MALAYSIA.
IC / PP No	:	A0524790
New IC No	:	661111-01-5650
Date of Birth	:	11/11/1966
Nationality	:	MALAYSIAN
Date of Appointment	:	01/01/2018

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	1020385P	CREDIENCE MALAYSIA SDN. BHD.	Director	10/10/2012	75.00	75.00	MYR51,445.00	2017	-	26/03/2018
2	704919V	ESSENTIAL CORPORATE RESOURCES SDN. BHD.	Shareholder	-	1.00	50.00	MYR10,392.00	2013	-	26/03/2018
3	217120W	EVERGREEN FIBREBOARD BERHAD	Director	01/01/2018	0.00	-	MYR67,947,449.00	2016	-	26/03/2018
4	635759U	M-MODE BERHAD	Director	19/08/2013	0.00	-	MYR(1,944,237.00)	2017	-	26/03/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	704919V	ESSENTIAL CORPORATE RESOURCES SDN. BHD.	Director	30/04/2012	05/12/2016	-	-
2	1053053X	TEAQ IP INTERNATIONAL SDN. BHD.	Director	05/07/2013	30/08/2016	-	-
3	1053053X	TEAQ IP INTERNATIONAL SDN. BHD.	Shareholder	-	-	-	-

DIRECTOR 7

Name Of Subject	:	MS. MARY HENERIETTA LIM KIM NEO
Address	:	38, JALAN ROTAM AIR, TAMAN SERI JAYA, 83000 BATU PAHAT, JOHOR, MALAYSIA.
IC / PP No	:	A0323115
New IC No	:	640110-05-6028
Date of Birth	:	10/01/1964
Nationality	:	MALAYSIAN
Date of Appointment	:	15/12/1995

INTEREST CHECK

Interest in companies	:	see below
Interest in business	:	see below
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	567960T	ALLGREEN TIMBER PRODUCTS SDN. BHD.	Director	04/01/2002	0.00	-	MYR(11,532,717.00)	2016	-	26/03/2018
2	958479K	CRAFT MASTER TIMBER PRODUCTS SDN. BHD.	Director	23/09/2011	0.00	-	MYR(7,097,055.00)	2016	-	26/03/2018
3	32799M	DAWA TIMBER INDUSTRIES (M) SDN. BHD.	Director	02/05/2009	0.00	-	MYR202,190.00	2016	-	26/03/2018
4	908762W	EVERGREEN ADHESIVE & CHEMICALS (GURUN) SDN. BHD.	Director	04/01/2011	0.00	-	MYR6,340,924.00	2016	-	26/03/2018
5	757659T	EVERGREEN ADHESIVE & CHEMICALS SDN. BHD.	Director	24/08/2007	0.00	-	MYR6,721,537.00	2016	-	26/03/2018
6	942013D	EVERGREEN AGRO SDN. BHD.	Director	25/04/2011	0.00	-	MYR(8,955.00)	2016	-	26/03/2018
7	751664M	EVERGREEN FIBREBOARD (JB) SDN. BHD.	Director	30/10/2006	0.00	-	MYR(11,243,166.00)	2016	-	26/03/2018
8	822113U	EVERGREEN FIBREBOARD (NILAI) SDN BHD	Director	23/06/2008	0.00	-	MYR19,910,311.00	2016	-	26/03/2018
9	217120W	EVERGREEN FIBREBOARD BERHAD	Director	15/12/1995	6.00	0.00000	MYR67,947,449.00	2016	-	26/03/2018
10	926789W	EVERGREEN PLANTATION RESOURCES SDN. BHD.	Director	08/08/2011	0.00	-	MYR11,500.00	2016	-	26/03/2018
11	1131544K	EVERLATT SOURCING SDN. BHD.	Director	16/02/2015	0.00	-	MYR176,771.00	2016	-	26/03/2018
12	461145D	JASA WIBAWA SDN. BHD.	Director	15/03/2012	0.00	-	MYR(1,165,523.00)	2016	-	26/03/2018
13	952365P	LOCOMOTION SERVICES SDN. BHD.	Director	14/07/2011	0.00	-	MYR1,301,246.00	2016	-	26/03/2018

INTEREST IN BUSINESS

No	Local No	Business	Designation	App Date	Shareholding (%)	Status	As At
1	JM0642880D	MARYS COLLECTIONS	SOLE PROPRIETORSHIP	28/12/2012	100.00	Expired	26/03/2018

DIRECTOR 8

Name Of Subject	:	KUO JEN CHIU
Address	:	12, WEST COAST CRESCENT, 05-01 WESTCOVE CONDO, 12804, SINGAPORE.
Other Address(es)	:	8 WESTRIDGE WALK, SINGAPORE 117824, MALAYSIA.
IC / PP No	:	E4559237C
Date of Birth	:	01/10/1966
Date of Appointment	:	20/05/1992

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	567960T	ALLGREEN TIMBER PRODUCTS SDN. BHD.	Director	11/04/2002	0.00	-	MYR(11,532,717.00)	2016	-	26/03/2018
2	958479K	CRAFT MASTER TIMBER PRODUCTS SDN. BHD.	Director	23/09/2011	0.00	-	MYR(7,097,055.00)	2016	-	26/03/2018
3	32799M	DAWA TIMBER INDUSTRIES (M) SDN. BHD.	Director	25/09/2001	0.00	-	MYR202,190.00	2016	-	26/03/2018
4	908762W	EVERGREEN ADHESIVE & CHEMICALS (GURUN) SDN. BHD.	Director	04/01/2011	0.00	-	MYR6,340,924.00	2016	-	26/03/2018
5	757659T	EVERGREEN ADHESIVE & CHEMICALS SDN. BHD.	Director	24/08/2007	0.00	-	MYR6,721,537.00	2016	-	26/03/2018
6	942013D	EVERGREEN AGRO SDN. BHD.	Director	23/05/2011	0.00	-	MYR(8,955.00)	2016	-	26/03/2018
7	751664M	EVERGREEN FIBREBOARD (JB) SDN. BHD.	Director	30/10/2006	0.00	-	MYR(11,243,166.00)	2016	-	26/03/2018
8	822113U	EVERGREEN FIBREBOARD (NILAI) SDN BHD	Director	23/06/2008	0.00	-	MYR19,910,311.00	2016	-	26/03/2018
9	217120W	EVERGREEN FIBREBOARD BERHAD	Director	20/05/1992	124,120,141.00	14.67	MYR67,947,449.00	2016	-	26/03/2018
10	926789W	EVERGREEN PLANTATION RESOURCES SDN. BHD.	Director	08/08/2011	0.00	-	MYR11,500.00	2016	-	26/03/2018
11	1131544K	EVERLATT SOURCING SDN. BHD.	Director	16/02/2015	0.00	-	MYR176,771.00	2016	-	26/03/2018
12	461145D	JASA WIBAWA SDN. BHD.	Director	18/08/2016	0.00	-	MYR(1,165,523.00)	2016	-	26/03/2018
13	952365P	LOCOMOTION SERVICES SDN. BHD.	Director	14/07/2011	0.00	-	MYR1,301,246.00	2016	-	26/03/2018
14	1022142T	MALAYSIAN MDF MANUFACTURERS ASSOCIATES BERHAD	Director	24/10/2012	0.00	-	-	-	-	26/03/2018

DIRECTOR 9

Name Of Subject	:	KUO JEN CHANG
Address	:	8, WESTRIDGE WALK, 117824, SINGAPORE.
IC / PP No	:	E3845342B
Nationality	:	SINGAPOREAN
Date of Appointment	:	15/05/1991

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	567960T	ALLGREEN TIMBER PRODUCTS SDN. BHD.	Director	11/04/2002	0.00	-	MYR(11,532,717.00)	2016	-	26/03/2018
2	958479K	CRAFT MASTER TIMBER PRODUCTS SDN. BHD.	Director	15/03/2017	0.00	-	MYR(7,097,055.00)	2016	-	26/03/2018
3	32799M	DAWA TIMBER INDUSTRIES (M) SDN. BHD.	Director	10/06/1989	0.00	-	MYR202,190.00	2016	-	26/03/2018
4	908762W	EVERGREEN ADHESIVE & CHEMICALS (GURUN) SDN. BHD.	Director	21/02/2011	0.00	-	MYR6,340,924.00	2016	-	26/03/2018
5	757659T	EVERGREEN ADHESIVE & CHEMICALS SDN. BHD.	Director	26/11/2007	0.00	-	MYR6,721,537.00	2016	-	26/03/2018
6	942013D	EVERGREEN AGRO SDN. BHD.	Director	23/05/2011	0.00	-	MYR(8,955.00)	2016	-	26/03/2018
7	751664M	EVERGREEN FIBREBOARD (JB) SDN. BHD.	Director	30/10/2006	0.00	-	MYR(11,243,166.00)	2016	-	26/03/2018
8	822113U	EVERGREEN FIBREBOARD (NILAI) SDN BHD	Director	22/08/2008	0.00	-	MYR19,910,311.00	2016	-	26/03/2018
9	217120W	EVERGREEN FIBREBOARD BERHAD	Director	15/05/1991	142,355,865.00	16.83	MYR67,947,449.00	2016	-	26/03/2018
10	926789W	EVERGREEN PLANTATION RESOURCES SDN. BHD.	Director	22/08/2011	0.00	-	MYR11,500.00	2016	-	26/03/2018
11	1131544K	EVERLATT SOURCING SDN. BHD.	Director	02/03/2015	0.00	-	MYR176,771.00	2016	-	26/03/2018
12	952365P	LOCOMOTION SERVICES SDN. BHD.	Director	14/07/2011	0.00	-	MYR1,301,246.00	2016	-	26/03/2018

FORMER DIRECTOR(S)

Name	Address	IC/PP No	Appointed Date	Withdrawn Date
BOH WEE ENG	16,JALAN JERAU 7, TMN PELANGI, JOHOR BAHRU., JOHOR BAHRU, JOHOR, MALAYSIA	5638665	15/05/1991	15/12/1995
MOHD ALKAF BIN MOHD KAHAR	LOT 307,LRG.BAYU NYAMAN B, COUNTRY HEIGHTS, KAJANG,, KAJANG, SELANGOR, MALAYSIA	481007-08-5845	15/12/1998	01/01/2010
WAN AZHAR BIN WAN AHMAD	NO. 10, JALAN BANTUAN, KAMPUNG MELAYU MAJIDEE, JOHOR BAHRU, JOHOR, MALAYSIA	720922-01-5213	31/03/2010	02/01/2013
YONG KOK FONG	NO. 34, JALAN LEDANG, TAMAN JOHOR, JOHOR BAHRU, JOHOR, MALAYSIA	761118-14-5851	01/06/2004	26/05/2014
KUO HUEI CHEN	31, MT. SINAI RISE, 04-07, SINGAPORE	2183847J	20/05/1992	08/01/2007
KUO JEN HUI	C19-W3,STRAITS VIEW CONDO, 8 JL.PERMAS SELATAN, PERMAS JAYA,JB	2178073A	20/05/1992	29/06/2001
CHUAN CHAI CHEN	1,JALAN ANGGERIK 5/1, TMN ANGGERIK, TAMPOI,JOHOR,, JOHOR BAHRU, JOHOR, MALAYSIA	490627-01-5121	15/05/1991	29/06/2001
SYED IZUAN BIN SYED KAMARULBAHRIN	NO 5 JALAN 15, TAMAN TUN ABDUL RAZAK, AMPANG, SELANGOR, MALAYSIA	690705-10-5429	02/01/2013	31/07/2014

Note : The above information was generated from our database.

MANAGEMENT

1)	Name of Subject	:	KUO JEN CHANG
	Position	:	CEO

AUDITOR

Auditor	:	BAKER TILLY MONTEIRO HENG
Auditor' Address	:	BAKER TILLY MH TOWER, LEVEL 10,TOWER 1, AVENUE 5, BANGSAR SOUTH CITY, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

COMPANY SECRETARIES

1)	Company Secretary	:	MS. ZARINA BINTI AHMAD
	IC / PP No	:	A1489140
	New IC No	:	700117-08-5894
	Address	:	04-12, BLOK 9, TAMAN KENANGA, TAMPOI, 81200 JOHOR BAHRU, JOHOR, MALAYSIA.

2)	Company Secretary	:	MS. LEONG SIEW FOONG
	IC / PP No	:	A0828311
	New IC No	:	671205-10-5330
	Address	:	3, JALAN BAYAM, TAMAN KOTA BESAR, 81900 KOTA TINGGI, JOHOR, MALAYSIA.

BANKING

Banking relations are maintained principally with :

1)

Name

:

CITIBANK BHD

2)

Name

:

HSBC BANK MALAYSIA BHD

3)

Name

:

RHB BANK BHD

4)

Name

:

AMBANK (M) BHD

5)

Name

:

BANGKOK BANK PUBLIC COMPANY LTD

6)

Name

:

CIMB BANK BHD

7)

Name

:

THE BANK OF NOVA SCOTIA BHD

8)

Name

:

MALAYAN BANKING BHD

ENCUMBRANCE (S)

Charge No	Creation Date	Charge Description	Chargee Name	Total Charge	Status
1	16/07/1992	N/A	DEVELOPMENT COMMERCIAL BANK BERHAD	MYR 35,000,000.00	Satisfied
2	12/10/1992	N/A	DEVELOPMENT COMMERCIAL BANK BERHAD	MYR 35,000,000.00	Satisfied
3	12/10/1992	N/A	MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD	MYR 10,000,000.00	Satisfied
4	27/01/1993	N/A	DEVELOPMENT COMMERCIAL BANK BERHAD	MYR 35,000,000.00	Satisfied
5	13/03/1995	N/A	MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD	MYR 9,180,000.00	Satisfied
6	13/03/1995	N/A	MALAYSIAN INDUSTRIAL DEVELOPMENT FINANCE BERHAD	MYR 9,180,000.00	Satisfied
7	17/01/1996	N/A	DCB BANK BERHAD	MYR 5,000,000.00	Satisfied
8	25/11/1999	N/A	RHB BANK BERHAD	MYR 26,627,228.00	Satisfied
9	25/11/1999	N/A	RHB BANK BERHAD	MYR 26,627,228.00	Satisfied
10	25/11/1999	N/A	RHB BANK BERHAD	MYR 26,627,228.00	Satisfied
11	24/12/1999	N/A	CITIBANK BERHAD AS AGENT FOR CITIBANK MALAYSIA L L	USD 5,000,000.00	Satisfied
12	24/12/1999	N/A	CITIBANK MALAYSIA L LIMITED	USD 5,000,000.00	Satisfied
13	09/06/2003	N/A	RHB ISLAMIC BANK BERHAD	MYR 10,000,000.00	Satisfied
14	22/07/2003	N/A	CITIBANK MALAYSIA L LIMITED	-	Satisfied
15	26/02/2004	N/A	CITIBANK MALAYSIA L LIMITED	-	Satisfied
16	02/12/2005	N/A	HSBC BANK MALAYSIA BERHAD	MYR 24,000,000.00	Satisfied
17	04/01/2007	N/A	RHB BANK BERHAD	MYR 9,050,000.00	Satisfied
18	18/04/2012	N/A	MAYBANK ISLAMIC BERHAD	MYR 265,000.00	Satisfied
19	03/08/2015	N/A	MAYBANK ISLAMIC BERHAD	-	Unsatisfied
20	09/11/2015	N/A	BANGKOK BANK BERHAD	-	Unsatisfied
21	28/07/2016	N/A	MAYBANK ISLAMIC BERHAD	MYR 19,477,346.11	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 legal action was found in our databank.

No winding up petition was found in our databank.

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
Import Countries	:	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	:	ASIA MIDDLE EAST EUROPE
Credit Term	:	N/A
Payment Mode	:	CHEQUES TELEGRAPHIC TRANSFER (TT) LETTER OF CREDIT (LC)

OPERATIONS

Products manufactured

:

MEDIUM DENSITY FIBREBOARD & WOODEN FURNITURE

Member(s) / Affiliate(s)

:

SMI ASSOCIATION OF MALAYSIA

MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE)

MALAYSIA FURNITURE INDUSTRY

Ownership of premises

:

OWNED

Total Number of Employees:
YEAR	2018	2017	2016	2015	2014
GROUP	2300	2300	2300	2300	2300
	N/A	N/A	800	N/A

Branch

:

NO

Other Information:

The Subject is principally engaged in the (as a / as an) manufacture of medium density fibreboard & wooden furniture. 

The Subject is a leading worldwide producer of quality engineered wood-based products including Medium Density Fibreboard (MDF) and Particleboard with annual production exceeding 800,000 cubic meters.

The Subject headquartered in Johor, Malaysia has five manufacturing locations in Malaysia, three in Thailand & one in Indonesia.

The Subject adopted a vertical integration strategy and expanded beyond its core MDF and Particleboard products into value-added downstream products such as Paper, Veneer, Printed, Melamine Board Laminations, and Knock Down Furniture.

Its comprehensive range of upstream/downstream products and service excellence are setting the standard around the world. 

Its core business is manufacturing and trading of fibreboard and Medium Density Fibreboard (MDF), Medium Density Fibreboard (MDF) is one of the most rapidly growing years.

The Subject product is alternative to plywood which are used for drawer bottom, back of cabinets,panelling,door skins and picture frame backing.

The Subject processing methods are as follows:
1) Raw Material which is rubber wood
2) Debarking & Chipping
3) Chip Screening
4) Refining
5) Glue & Wax Addition
6) Drying
7) Forming & Pre-Pressing
8) Hot Press
9) Cooling
10) Finishing

It is one of the leading worldwide producers of quality engineered wood-based products consisting of Medium Density Fiberboard and Particleboard. 

RECENT DEVELOPMENT

10 Apr 2017 

Wood panel products maker Evergreen Fibreboard Bhd is adding particleboard manufacturing capacity to its plant, targeting demand for the raw material widely used in lower end furniture.

The expansion, according to a top company official, will complement the company’s existing medium-density fibreboard (MDF) products. “A major project would be the completion of the upgrading and revamp of our particleboard plant,” group corporate controller Martin Leong told StarBiz. “This will complement our existing medium-density fibreboards (MDF) products and give us access to a growing market currently facing supply shortages,” he added. Another critical component coming online in 2017 for the company is the addition of a second automated production line for its ready-to-assemble (RTA) furniture products. 

“Our group’s long-term direction is to diversify away from principally relying on sales of raw MDF boards by going downstream via value-adding and product differentiation. As our furniture offerings are made of panel boards, the completion of the particleboard plant will complement our efforts to expand our downstream ambitions as one of the major raw materials for our furniture products is particleboard,” he said. Evergreen’s in-house production of intermediate products including the glue, MDF boards and particleboards gives rise to Evergreen’s position of being a true integrated producer from raw boards to boards with overlay and RTA furniture sets.

The projects, when completed, will strengthen Evergreen’s core competencies as well as complement and generate new but related income streams. Leong said most of the investment costs for the expansion projects had already been accounted for in FY15 and FY16. “We expect a capex budget of no more than RM50mil for FY17. We think there could be a slight improvement in our financial results this year compared with the previous year, as our expansion projects will start to kick-in in the second half of the year,” he said.

In the latest reported fourth quarter ended Dec 31, Evergreen Fibreboard posted a slight 9.73% decline year-on-year (yoy) in its net profit to RM17.48mil while revenue was rather flattish at RM262.79mil. Basic earnings per share in the fourth quarter was at 2.11 sen against 3.74 sen a year ago. Its debt to equity ratio stood at 0.04 times against total cash holdings at RM160.31 on Dec 31.

The company is mainly an exporter to overseas markets and is also a beneficiary of the strong US dollar presently. Leong said the company’s two main export regions are South-East Asia and the Middle East. “As we export more than we sell locally, a strong US dollar will have a positive effect on our topline and bottomline performance,” he says. A strong dollar also helps alleviate some of its pressures on raw material costs which have been rising, the company says. “As our main product offering is currently MDF boards, one of the major raw materials is rubber wood logs. We have seen an increase in rubber wood prices compared to 2016. This is partially due to the rise in rubber latex prices but the effect is exacerbated by the longer than usual monsoon season,” he says.

“The heavier than usual rain made for more difficult access to rubber wood logs from rubber plantations. Depending on weather conditions, we expect the prices to remain high for the remainder of 2017,” he adds. The second major raw material for Evergreen Fibreboard is glue and while the company manufactures its own glue, it still has to source the primary raw materials of urea and methanol.

“These two are petroleum-derived products and the increasing price of oil in the international market has also pushed prices for urea and methanol higher when compared to 2016,” Leong says. “The strong dollar has alleviated some of the pressure of rising raw material prices. The market for MDF remains competitive but with better product offering and improving global trade prospects, we are able to maintain our market share,” he adds.

Moving forward, Leong says the company will be in a stronger position to weather headwinds such as rising raw material prices as it will have new sources of revenue that will kick in. “The expansion plans with the coming online of new revenue streams: the particleboard and more RTA furniture capacities will help us. The current strong US dollar is a welcomed bonus,” he says.

CURRENT INVESTIGATION

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client	:	607-4541933
Current Telephone Number	:	07-4541933
Match	:	YES
Address Provided by Client	:	PLO 22, PARIT RAJA INDUSTRIAL ESTATE 86400 PARIT RAJA BATU PAHAT JOHOR DARUL TAKZIM
Current Address	:	PLO 22, PARIT RAJA INDUSTRIAL ESTATE, PARIT RAJA, 86400 BATU PAHAT, JOHOR, MALAYSIA.
Match	:	YES
Latest Financial Accounts	:	YES

Other Investigations

On 10th April 2018, we contacted one of the staff from the Subject and she provided some information on the Subject.

FINANCIAL ANALYSIS

Profitability
Turnover	:	Erratic	[	2012 - 2016	]
Profit/(Loss) Before Tax	:	Decreased	[	2012 - 2016	]
Return on Shareholder Funds	:	Unfavourable	[	6.22%	]
Return on Net Assets	:	Unfavourable	[	8.70%	]
The fluctuating turnover reflects the fierce competition among the existing and new market players.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns.
Working Capital Control
Stock Ratio	:	Unfavourable	[	78 Days	]
Debtor Ratio	:	Favourable	[	28 Days	]
Creditors Ratio	:	Favourable	[	30 Days	]
The Subject could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The 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	[	1.20 Times	]
Current Ratio	:	Unfavourable	[	1.88 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	:	Favourable	[	14.78 Times	]
Gearing Ratio	:	Favourable	[	0.18 Times	]
The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. 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 :
The Subject recorded lower profits as its turnover showed a erratic trend. The Subject's management was unable to control its costs efficiently as its profit showed a downward trend. 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. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. 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 : 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
16212 : Manufacture of particle board and fibreboard
31 : MANUFACTURE OF FURNITURE
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.
OVERALL INDUSTRY OUTLOOK : Marginal Growth

CREDIT RISK EVALUATION & RECOMMENDATION

Incorporated in 1991, the Subject is a Public Listed company, focusing on manufacture of medium density fibreboard & wooden furniture. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term.  The Subject is expected to enjoy a stable market shares. With MYR 211,605,996 in issued and paid up capital, the Subject has the potential of capturing a higher market shares as it is competing aggressively in the market. 

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a large entity, the Subject has a steady workforce of 2300 personnel to support its business operations. Its future prospects seem to be fairly good as its business operations are running relatively stable. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

The Subject's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a lowly geared company, the Subject is exposed to low financial risk as it is mainly dependent on its internal funds to finance its business needs. Given a positive net worth standing at MYR 1,152,141,741, the Subject should be able to maintain its business in the near terms. 

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts. 

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market. 

Based on the above condition, we recommend credit be granted to the Subject promptly.

PROFIT AND LOSS ACCOUNT

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

EVERGREEN FIBREBOARD BERHAD

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	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	997,794,615	1,012,016,776	918,788,663	938,670,049	1,031,661,620
Other Income	23,009,140	25,022,805	13,573,427	5,617,509	4,194,781
	----------------	----------------	----------------	----------------	----------------
Total Turnover	1,020,803,755	1,037,039,581	932,362,090	944,287,558	1,035,856,401
Costs of Goods Sold	(730,168,432)	(724,121,125)	(733,779,373)	(811,133,304)	(841,571,962)
	----------------	----------------	----------------	----------------	----------------
Gross Profit	290,635,323	312,918,456	198,582,717	133,154,254	194,284,439
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) FROM OPERATIONS	93,445,241	108,531,741	24,868,807	(49,017,442)	25,749,194
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) BEFORE TAXATION	93,445,241	108,531,741	24,868,807	(49,017,442)	25,749,194
Taxation	(25,497,792)	(14,440,734)	(2,656,612)	3,908,088	(185,619)
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) AFTER TAXATION	67,947,449	94,091,007	22,212,195	(45,109,354)	25,563,575
Minority interests	3,731,985	(3,187,215)	(1,407,253)	2,384,063	6,606,701
Profit/(Loss) from discontinued operation	-	-	(20,634,788)	-	-
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS	71,679,434	90,903,792	170,154	(42,725,291)	32,170,276
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS	71,679,434	90,903,792	170,154	(42,725,291)	32,170,276
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
As previously reported	634,693,436	543,789,644	543,619,490	589,638,315	570,292,789
Prior year adjustment	-	-	-	(3,293,534)	-
	----------------	----------------	----------------	----------------	----------------
As restated	634,693,436	543,789,644	543,619,490	586,344,781	570,292,789
	----------------	----------------	----------------	----------------	----------------
PROFIT AVAILABLE FOR APPROPRIATIONS	706,372,870	634,693,436	543,789,644	543,619,490	602,463,065
TRANSFER TO RESERVES - General	1,143,315	-	-	-	-
DIVIDENDS - Ordinary (paid & proposed)	(8,464,020)	-	-	-	(12,824,750)
	----------------	----------------	----------------	----------------	----------------
RETAINED PROFIT/(LOSS) CARRIED FORWARD	699,052,165	634,693,436	543,789,644	543,619,490	589,638,315
	=============	=============	=============	=============	=============
INTEREST EXPENSE (as per notes to P&L)
Lease interest	191,680	43,932	153,360	183,805	213,983
Term loan / Borrowing	3,116,981	3,614,951	6,483,031	8,928,762	12,536,675
Others	3,474,090	6,787,742	6,395,102	5,789,750	2,542,895
	----------------	----------------	----------------	----------------	----------------
	6,782,751	10,446,625	13,031,493	14,902,317	15,293,553
	=============	=============	=============	=============	=============
DEPRECIATION (as per notes to P&L)	62,638,290	64,113,619	63,058,937	67,299,600	67,774,131
AMORTIZATION	880,439	876,328	1,099,343	1,039,946	454,861
	----------------	----------------	----------------	----------------	----------------
Total Amortization And Depreciation	63,518,729	64,989,947	64,158,280	68,339,546	68,228,992
		=============	=============	=============	=============

BALANCE SHEET

EVERGREEN FIBREBOARD BERHAD

ASSETS EMPLOYED:
FIXED ASSETS	975,945,498	846,071,854	776,992,023	797,320,352	846,420,449
LONG TERM INVESTMENTS/OTHER ASSETS
Investments	139,600	145,400	109,000	-	-
Deferred assets	13,391,043	18,759,449	-	-	-
Others	63,041,811	63,965,840	74,313,239	58,536,608	32,289,630
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS	76,572,454	82,870,689	74,422,239	58,536,608	32,289,630
INTANGIBLE ASSETS
Goodwill on consolidation	18,377,353	19,509,938	19,564,447	19,590,250	19,590,873
Others	117,630	127,249	138,283	153,933	177,293
	----------------	----------------	----------------	----------------	----------------
TOTAL INTANGIBLE ASSETS	18,494,983	19,637,187	19,702,730	19,744,183	19,768,166
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM ASSETS	1,071,012,935	948,579,730	871,116,992	875,601,143	898,478,245
CURRENT ASSETS
Short term quoted/unquoted investments	-	-	-	100,800	100,800
Stocks	177,334,189	193,611,970	198,033,335	195,517,960	182,665,807
Contract work-in-progress	35,643,176	24,663,970	17,333,793	15,614,548	11,092,563
Trade debtors	76,454,662	97,194,323	73,754,063	76,349,053	70,321,240
Other debtors, deposits & prepayments	18,111,888	22,601,377	19,434,672	15,206,731	19,123,926
Short term deposits	44,082,751	33,858,928	21,454,891	19,814,673	26,905,678
License premium	-	-	7,670,796	1,241	-
Cash & bank balances	116,183,772	82,711,816	52,453,625	35,730,374	56,908,702
Others	22,122,662	43,986,408	25,211,761	52,826,852	91,572,551
	----------------	----------------	----------------	----------------	----------------
TOTAL CURRENT ASSETS	489,933,100	498,628,792	415,346,936	411,162,232	458,691,267
	----------------	----------------	----------------	----------------	----------------
TOTAL ASSET	1,560,946,035	1,447,208,522	1,286,463,928	1,286,763,375	1,357,169,512
	=============	=============	=============	=============	=============
CURRENT LIABILITIES
Trade creditors	60,525,810	55,575,743	58,407,396	64,313,670	62,247,644
Other creditors & accruals	92,077,155	76,319,190	76,611,387	64,631,428	57,424,786
Hire purchase & lease creditors	330,885	243,722	-	678,769	663,862
Short term borrowings/Term loans	32,719,114	22,827,459	47,325,970	100,561,763	93,984,161
Other borrowings	70,755,100	138,407,937	189,389,657	166,993,357	133,784,546
Provision for taxation	4,837,746	7,409,233	-	538,898	480,277
Other liabilities	-	875,887	391,564	2,057,467	148,380
	----------------	----------------	----------------	----------------	----------------
TOTAL CURRENT LIABILITIES	261,245,810	301,659,171	372,125,974	399,775,352	348,733,656
	----------------	----------------	----------------	----------------	----------------
NET CURRENT ASSETS/(LIABILITIES)	228,687,290	196,969,621	43,220,962	11,386,880	109,957,611
	----------------	----------------	----------------	----------------	----------------
LONG TERM LIABILITIES
Long term loans	99,826,657	37,050,914	50,019,175	67,377,877	140,749,064
Lease obligations	1,005,550	178,090	1,258,709	1,617,755	1,804,185
Deferred taxation	38,165,106	29,468,898	24,315,680	4,452,146	6,598,925
Retirement benefits provision	8,561,171	8,814,784	8,476,061	8,205,683	7,602,069
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM LIABILITIES	147,558,484	75,512,686	84,069,625	81,653,461	156,754,243
	----------------	----------------	----------------	----------------	----------------
TOTAL NET ASSETS	1,152,141,741	1,070,036,665	830,268,329	805,334,562	851,681,613
	=============	=============	=============	=============	=============
FINANCED BY:
SHARE CAPITAL
Ordinary share capital	211,605,996	141,072,500	128,250,000	128,250,000	128,250,000
	----------------	----------------	----------------	----------------	----------------
TOTAL SHARE CAPITAL	211,605,996	141,072,500	128,250,000	128,250,000	128,250,000
RESERVES
Share premium	133,143,216	203,676,712	113,129,400	113,129,400	113,129,400
Exchange equalisation/fluctuation reserve	80,189,043	58,429,305	16,650,539	(561,430)	(5,206,876)
Retained profit/(loss) carried forward	699,052,165	634,693,436	543,789,644	543,619,490	589,638,315
Others	28,578	412,510	(164,381)	(1,506,772)	9,755
	----------------	----------------	----------------	----------------	----------------
TOTAL RESERVES	912,413,002	897,211,963	673,405,202	654,680,688	697,570,594
MINORITY INTEREST	28,122,743	31,752,202	28,613,127	22,403,874	25,861,019
	----------------	----------------	----------------	----------------	----------------
SHAREHOLDERS' FUNDS/EQUITY	1,152,141,741	1,070,036,665	830,268,329	805,334,562	851,681,613
		=============	=============	=============	=============

FINANCIAL RATIO

EVERGREEN FIBREBOARD BERHAD

TYPES OF FUNDS
Cash	160,266,523	116,570,744	73,908,516	55,545,047	83,814,380
Net Liquid Funds	160,266,523	116,570,744	73,908,516	55,545,047	83,814,380
Net Liquid Assets	51,353,101	3,357,651	(154,812,373)	(184,131,080)	(72,708,196)
Net Current Assets/(Liabilities)	228,687,290	196,969,621	43,220,962	11,386,880	109,957,611
Net Tangible Assets	1,133,646,758	1,050,399,478	810,565,599	785,590,379	831,913,447
Net Monetary Assets	(96,205,383)	(72,155,035)	(238,881,998)	(265,784,541)	(229,462,439)
PROFIT & LOSS ITEMS
Earnings Before Interest & Tax (EBIT)	100,227,992	118,978,366	37,900,300	(34,115,125)	41,042,747
Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)	163,746,721	183,968,313	102,058,580	34,224,421	109,271,739
BALANCE SHEET ITEMS
Total Borrowings	204,637,306	198,708,122	287,993,511	337,229,521	370,985,818
Total Liabilities	408,804,294	377,171,857	456,195,599	481,428,813	505,487,899
Total Assets	1,560,946,035	1,447,208,522	1,286,463,928	1,286,763,375	1,357,169,512
Net Assets	1,152,141,741	1,070,036,665	830,268,329	805,334,562	851,681,613
Net Assets Backing	1,152,141,741	1,070,036,665	830,268,329	805,334,562	851,681,613
Shareholders' Funds	1,152,141,741	1,070,036,665	830,268,329	805,334,562	851,681,613
Total Share Capital	211,605,996	141,072,500	128,250,000	128,250,000	128,250,000
Total Reserves	912,413,002	897,211,963	673,405,202	654,680,688	697,570,594
GROWTH RATIOS (Year on Year) (%)
Revenue	(1.41)	10.15	(2.12)	(9.01)	(2.83)
Proft/(Loss) Before Tax	(13.90)	336.42	150.73	(290.36)	(60.68)
Proft/(Loss) After Tax	(27.79)	323.60	149.24	(276.46)	(56.78)
Total Assets	7.86	12.50	(0.02)	(5.19)	4.26
Total Liabilities	8.39	(17.32)	(5.24)	(4.76)	5.13
LIQUIDITY (Times)
Cash Ratio	0.61	0.39	0.20	0.14	0.24
Liquid Ratio	1.20	1.01	0.58	0.54	0.79
Current Ratio	1.88	1.65	1.12	1.03	1.32
WORKING CAPITAL CONTROL (Days)
Stock Ratio	78	79	86	82	69
Debtors Ratio	28	35	29	30	25
Creditors Ratio	30	28	29	29	27
SOLVENCY RATIOS (Times)
Gearing Ratio	0.18	0.19	0.35	0.42	0.44
Liabilities Ratio	0.35	0.35	0.55	0.60	0.59
Times Interest Earned Ratio	14.78	11.39	2.91	(2.29)	2.68
Assets Backing Ratio	5.36	7.45	6.32	6.13	6.49
PERFORMANCE RATIO (%)
Operating Profit Margin	9.37	10.72	2.71	(5.22)	2.50
Net Profit Margin	7.18	8.98	0.02	(4.55)	3.12
Return On Net Assets	8.70	11.12	4.56	(4.24)	4.82
Return On Capital Employed	7.44	9.94	3.94	(3.67)	3.89
Return On Shareholders' Funds/Equity	6.22	8.50	0.02	(5.31)	3.78
Dividend Pay Out Ratio (Times)	0.12	0	0	0	0.40
NOTES TO ACCOUNTS
Contingent Liabilities	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.12
UK Pound	1	INR 92.51
Euro	1	INR 80.51
MYR	1	INR 16.85

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	DNS

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.