|
|
|
MIRA INFORM REPORT
|
Report No. : |
502764 |
|
Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
WORLDWIDE CULTURE RESOURCES SDN. BHD |
|
|
|
|
Registered Office : |
Lot 20-Acd, Level 5, Menara Pandan B, Persiaran Mpaj,
Jalan Pandan Utama, Pandan Indah, 55100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2017 |
|
|
|
|
Date of Incorporation : |
21.06.2005 |
|
|
|
|
Com. Reg. No.: |
700621-H |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of timber. |
|
|
|
|
No. of Employees : |
10 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
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. |
: |
700621-H |
||||
|
GST NO. |
: |
001599475712 |
||||
|
COMPANY NAME |
: |
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/06/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 20-ACD, LEVEL 5, MENARA PANDAN B, PERSIARAN MPAJ, JALAN
PANDAN UTAMA, PANDAN INDAH, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
15-2, JALAN KUCHAI MAJU 11, KUCHAI ENTREPRENEURS PARK OFF JALAN
KUCHAI LAMA, 1ST FLOOR, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-79834037 |
||||
|
FAX.NO. |
: |
03-79834027 |
||||
|
CONTACT PERSON |
: |
VIVIEN CHAN SWEE KHENG ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46631 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF TIMBER |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 410,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 32,090,979 [2017] |
||||
|
NET WORTH |
: |
MYR 2,101,410 [2017] |
||||
|
STAFF STRENGTH |
: |
10 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
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) trading
of timber.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Former Address(es)
|
Address |
As At Date |
|
20-3A, JALAN 3/109C, TAMAN ABADI INDAH, JALAN KLANG LAMA, 58100,
WILAYAH PERSEKUTUAN, MALAYSIA |
28/08/2005 |
|
28-2B, JALAN PANDAN 2/2, PANDAN JAYA, 55100, WILAYAH
PERSEKUTUAN, MALAYSIA |
30/11/2005 |
|
PANGLOBAL BUSINESS CENTRE, LEVEL 19,MENARA PANGLOBAL, 8 LORONG
P.RAMLEE, 50250, WILAYAH PERSEKUTUAN, MALAYSIA |
N/A |
|
LEVEL 16, MENARA HAP SENG, JALAN P.RAMLEE, 50250, WILAYAH
PERSEKUTUAN, MALAYSIA |
N/A |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
09/08/2006 |
MYR 500,000.00 |
MYR 410,000.00 |
|
21/06/2005 |
MYR 100,000.00 |
MYR 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MS. VIVIEN CHAN SWEE KHENG + |
60-1-4, PANGSARIA APARTMENT, TAMAN DESA PETALING, 57100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
730424-11-5026 |
205,000.00 |
50.00 |
|
MR. CHONG THAI RON + |
114, JALAN NAKHODA 12, TAMAN TUN AMINAH, 81300 SKUDAI, JOHOR,
MALAYSIA. |
680124-01-6269 A0935617 |
205,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
410,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
DANNY CHAN OOI TAT |
MALAYSIA |
750919-11-5077 |
2,500.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. VIVIEN CHAN SWEE KHENG |
|
Address |
: |
60-1-4, PANGSARIA APARTMENT, TAMAN DESA PETALING, 57100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
78/1-H,JALAN AIR JERNIH, 20800 KUALA TERENGGANU, MALAYSIA. |
|
New IC No |
: |
730424-11-5026 |
|
Date of Birth |
: |
24/04/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
21/06/2005 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
1010131D |
BLUE OCEAN YIELDS SDN. BHD. |
Director |
03/08/2012 |
1.00 |
50.00 |
MYR(211,536.00) |
2016 |
Disolved by Registrar |
26/03/2018 |
|
2 |
700621H |
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
Director |
21/06/2005 |
205,000.00 |
50.00 |
MYR1,305,366.00 |
2017 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
1164122X |
ALAM MAJUJAYA SDN. BHD. |
Director |
29/10/2015 |
01/09/2016 |
- |
- |
|
2 |
1164122X |
ALAM MAJUJAYA SDN. BHD. |
Shareholder |
- |
- |
- |
- |
|
3 |
937973U |
GLOBAL HARDWARE SDN. BHD. |
Director |
28/03/2011 |
01/03/2012 |
- |
- |
|
4 |
937973U |
GLOBAL HARDWARE SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MR. CHONG THAI RON |
|
Address |
: |
114, JALAN NAKHODA 12, TAMAN TUN AMINAH, 81300 SKUDAI, JOHOR,
MALAYSIA. |
|
Other Address(es) |
: |
D-2-31,JALAN KUCHAI MAJU 1, KUCHAI ENTREPRENEURS,S PARK, OFF
JALAN KUCHAI LAMA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A0935617 |
|
New IC No |
: |
680124-01-6269 |
|
Date of Birth |
: |
24/01/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/11/2012 |
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 |
1164122X |
ALAM MAJUJAYA SDN. BHD. |
Director |
29/10/2015 |
225,000.00 |
90.00 |
MYR(7,869.00) |
2016 |
- |
26/03/2018 |
|
2 |
1011330D |
BLUE OCEAN POWER SDN. BHD. |
Director |
14/08/2012 |
1.00 |
50.00 |
MYR15,645.00 |
2016 |
- |
26/03/2018 |
|
3 |
1010131D |
BLUE OCEAN YIELDS SDN. BHD. |
Director |
03/08/2012 |
1.00 |
50.00 |
MYR(211,536.00) |
2016 |
Disolved by Registrar |
26/03/2018 |
|
4 |
700621H |
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
Director |
23/11/2012 |
205,000.00 |
50.00 |
MYR1,305,366.00 |
2017 |
- |
26/03/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
002049955M |
AC TRADE RESOURCES |
SOLE PROPRIETORSHIP |
27/06/2011 |
100.00 |
Expired |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
JM0195969P |
O.T.M.TIMBER TRADING |
SOLE PROPRIETORSHIP |
18/06/2004 |
23/11/2007 |
- |
- |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
DANNY CHAN OOI TAT |
A-8-4, ABADI VILLA CONDOMINIUM, TAMAN ABADI INDAH, OFF JALAN
KLANG LAMA, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
750919-11-5077 |
21/06/2005 |
23/11/2012 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
VIVIEN CHAN SWEE KHENG |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
CWC & COMPANY |
|
Auditor' Address |
: |
LOT 20-ACD, LEVEL 4, MENARA PANDAN B, PERSIARAN MPAJ, JALAN
PANDAN UTAMA, PANDAN INDAH, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. FAM SENG CHOY |
|
IC / PP No |
: |
A0656836 |
|
|
New IC No |
: |
670325-14-5041 |
|
|
Address |
: |
P-A-12A, DAHLIA APARTMENT, JALAN PANDAN INDAH 24, PANDAN INDAH,
55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
27/09/2006 |
MEMO OF DEPOSIT OF FIXED DEPOSIT, LETTER OF SET-OFF AND FACILITY
AGREEMENT |
MALAYAN BANKING 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 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.
There is/are CLOSED 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
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
Percentage |
: |
10% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
90% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DISTRIBUTORS |
|||
OPERATIONS
|
|
Goods Traded |
: |
TIMBER PRODUCTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
2017 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
10 |
6 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of timber.
The Subject's products ranges are including Merbau Sawn Timber Flithces {Band Saw
Cutting], Acacia Rough Sawn Timber, Kempas, Balau and others.
Besides that the Subject also provides timbers sourcing and consultancy
services for import / export, forwarding and related matters.
The Subject sell the product based on customer's demands
RECENT
DEVELOPMENT
|
We have checked with the Malaysian National News Agency's (BERNAMA) database,
but no recent development was noted during the time of inspection.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-79834037 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
D-2-31 JALAN KUCHAI MAJU 58200 KUALA LUMPUR |
|
Current Address |
: |
15-2, JALAN KUCHAI MAJU 11, KUCHAI ENTREPRENEURS PARK OFF JALAN
KUCHAI LAMA, 1ST FLOOR, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, 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 the Subject's former business address.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
62.12% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
96.60% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
higher profit could be attributed to the increase in turnover. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
40 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 |
[ |
1.22 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.43 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 |
[ |
37.33 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.54 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 : |
||||||
|
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. 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 : STABLE |
||||||
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 |
|
|
46631 : Wholesale of logs, sawn timber, plywood, veneer and
related products |
|
|
INDUSTRY : |
TRADING |
|
Malaysia's retail sales will likely grow 3.7% in 2017, slower
than previously estimated 3.9%, as consumer sentiment remains weak amid
rising cost of living in Southeast Asia's third largest economy. |
|
|
The cut in forecast was the second of such revision by Retail
Group Malaysia, a retail consulting firm, from an initial target of 5% retail
sales expansion pace in 2017. The estimate follows a survey of members of
Malaysia Retailers Association on their second quarter performance and
outlook for the year. Retail sales grew 1.7% in 2016. |
|
|
According to Retail Group Malaysia (RGM), Malaysian retailers
have seen the sales expanded 4.9 % from April to June 2017, reversing a
dismal performance in first three months 2017. For the first six months 2016,
the retail sale growth rate was 2.5 %. However, the businesses in the next
three months are not optimistic, estimating an average growth rate of 2.9 %.
The department stores cum supermarket operators are expecting to return to
red with a contraction of 2.5 %. Similarly, the department store operators
expect their businesses to dip with a negative 1.5 %. |
|
|
The rise of purchasing power will continue to fall behind the
increase in prices of retail goods. More retail goods are expected to raise
prices because of higher fuel prices in recent months. |
|
|
The wholesale trade sub-sector index increased 5.9 % to 165.9
points year-on-year (y-o-y) driven mainly by other specialised wholesale (7.5
%), wholesale of agricultural raw materials and livestock (7.3 %) and
wholesale of machinery, equipment and supplies (6.2 %). |
|
|
Over 60% of Gross Domestic Product (GDP) is contributed by
domestic consumption. Therefore the wholesale and retail sector plays a
crucial role in driving Malaysia's growth over the next decade despite the
ongoing global economic slowdown. By 2020, Malaysia's wholesale and retail
sector is expected to boost the country's total Gross National Income (GNI)
by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
Financials
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
|
Financial Year End |
2017-06-30 |
2016-06-30 |
2015-06-30 |
2014-06-30 |
2013-06-30 |
|
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 |
32,090,979 |
28,151,001 |
15,234,432 |
17,332,541 |
18,600,151 |
|
Other Income |
348,601 |
1,235,389 |
835,226 |
182,602 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
32,439,580 |
29,386,390 |
16,069,658 |
17,515,143 |
18,600,151 |
|
Costs of Goods Sold |
(27,625,087) |
(26,658,698) |
(14,170,765) |
(16,035,594) |
(17,179,258) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
4,814,493 |
2,727,692 |
1,898,893 |
1,479,549 |
1,420,893 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,975,525 |
700,765 |
56,930 |
102,523 |
49,391 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,975,525 |
700,765 |
56,930 |
102,523 |
49,391 |
|
Taxation |
(670,159) |
(113,142) |
(88,626) |
(64,767) |
(83,084) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,305,366 |
587,623 |
(31,696) |
37,756 |
(33,693) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
386,044 |
(201,579) |
(169,883) |
(207,639) |
(173,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
386,044 |
(201,579) |
(169,883) |
(207,639) |
(173,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,691,410 |
386,044 |
(201,579) |
(169,883) |
(207,639) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,691,410 |
386,044 |
(201,579) |
(169,883) |
(207,639) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Hire purchase |
33,169 |
89,224 |
29,135 |
25,160 |
25,160 |
|
Others |
21,210 |
55,408 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
54,379 |
144,632 |
29,135 |
25,160 |
25,160 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
263,157 |
262,609 |
394,487 |
237,012 |
35,430 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
263,157 |
262,609 |
394,487 |
237,012 |
35,430 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
595,301 |
853,969 |
665,171 |
261,692 |
490,309 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
595,301 |
853,969 |
665,171 |
261,692 |
490,309 |
|
CURRENT ASSETS |
|||||
|
Stocks |
992,140 |
1,986,129 |
759,753 |
576,262 |
3,387,902 |
|
Trade debtors |
3,773,338 |
3,446,742 |
2,559,371 |
3,680,862 |
1,306,486 |
|
Other debtors, deposits & prepayments |
541,518 |
645,848 |
334,750 |
16,729 |
14,429 |
|
Short term deposits |
- |
123,899 |
113,090 |
102,282 |
102,282 |
|
Cash & bank balances |
1,386,631 |
685,280 |
405,577 |
354,286 |
365,224 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,693,627 |
6,887,898 |
4,172,541 |
4,730,421 |
5,176,323 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
7,288,928 |
7,741,867 |
4,837,712 |
4,992,113 |
5,666,632 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,026,134 |
5,108,525 |
2,716,513 |
3,258,989 |
4,127,016 |
|
Other creditors & accruals |
45,878 |
39,993 |
24,810 |
61,248 |
15,500 |
|
Hire purchase & lease creditors |
113,316 |
97,322 |
217,104 |
140,892 |
140,892 |
|
Bank overdraft |
517,876 |
192,753 |
- |
- |
- |
|
Other borrowings |
- |
227,527 |
279,635 |
339,695 |
16,259 |
|
Amounts owing to director |
410,967 |
- |
- |
- |
- |
|
Provision for taxation |
572,183 |
28,508 |
51,328 |
26,243 |
31,892 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,686,354 |
5,694,628 |
3,289,390 |
3,827,067 |
4,331,559 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,007,273 |
1,193,270 |
883,151 |
903,354 |
844,764 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Hire purchase creditors |
494,505 |
617,668 |
491,698 |
255,089 |
370,821 |
|
Deferred taxation |
6,659 |
7,719 |
6,381 |
7,583 |
7,559 |
|
Others |
- |
625,808 |
841,822 |
662,257 |
754,332 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
501,164 |
1,251,195 |
1,339,901 |
924,929 |
1,132,712 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,101,410 |
796,044 |
208,421 |
240,117 |
202,361 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
410,000 |
410,000 |
410,000 |
410,000 |
410,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
410,000 |
410,000 |
410,000 |
410,000 |
410,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
1,691,410 |
386,044 |
(201,579) |
(169,883) |
(207,639) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,691,410 |
386,044 |
(201,579) |
(169,883) |
(207,639) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,101,410 |
796,044 |
208,421 |
240,117 |
202,361 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
WORLDWIDE CULTURE RESOURCES SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,386,631 |
809,179 |
518,667 |
456,568 |
467,506 |
|
Net Liquid Funds |
868,755 |
616,426 |
518,667 |
456,568 |
467,506 |
|
Net Liquid Assets |
1,015,133 |
(792,859) |
123,398 |
327,092 |
(2,543,138) |
|
Net Current Assets/(Liabilities) |
2,007,273 |
1,193,270 |
883,151 |
903,354 |
844,764 |
|
Net Tangible Assets |
2,101,410 |
796,044 |
208,421 |
240,117 |
202,361 |
|
Net Monetary Assets |
513,969 |
(2,044,054) |
(1,216,503) |
(597,837) |
(3,675,850) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
2,029,904 |
845,397 |
86,065 |
127,683 |
74,551 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
2,293,061 |
1,108,006 |
480,552 |
364,695 |
109,981 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
1,125,697 |
1,135,270 |
988,437 |
735,676 |
527,972 |
|
Total Liabilities |
5,187,518 |
6,945,823 |
4,629,291 |
4,751,996 |
5,464,271 |
|
Total Assets |
7,288,928 |
7,741,867 |
4,837,712 |
4,992,113 |
5,666,632 |
|
Net Assets |
2,101,410 |
796,044 |
208,421 |
240,117 |
202,361 |
|
Net Assets Backing |
2,101,410 |
796,044 |
208,421 |
240,117 |
202,361 |
|
Shareholders' Funds |
2,101,410 |
796,044 |
208,421 |
240,117 |
202,361 |
|
Total Share Capital |
410,000 |
410,000 |
410,000 |
410,000 |
410,000 |
|
Total Reserves |
1,691,410 |
386,044 |
(201,579) |
(169,883) |
(207,639) |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
14.00 |
84.79 |
(12.11) |
(6.82) |
(33.13) |
|
Proft/(Loss) Before Tax |
181.91 |
1,130.92 |
(44.47) |
107.57 |
(28.85) |
|
Proft/(Loss) After Tax |
122.14 |
1,953.93 |
(183.95) |
212.06 |
(254.89) |
|
Total Assets |
(5.85) |
60.03 |
(3.09) |
(11.90) |
17.65 |
|
Total Liabilities |
(25.31) |
50.04 |
(2.58) |
(13.04) |
19.29 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.30 |
0.14 |
0.16 |
0.12 |
0.11 |
|
Liquid Ratio |
1.22 |
0.86 |
1.04 |
1.09 |
0.41 |
|
Current Ratio |
1.43 |
1.21 |
1.27 |
1.24 |
1.20 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
11 |
26 |
18 |
12 |
66 |
|
Debtors Ratio |
43 |
45 |
61 |
78 |
26 |
|
Creditors Ratio |
40 |
70 |
70 |
74 |
88 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.54 |
1.43 |
4.74 |
3.06 |
2.61 |
|
Liabilities Ratio |
2.47 |
8.73 |
22.21 |
19.79 |
27.00 |
|
Times Interest Earned Ratio |
37.33 |
5.85 |
2.95 |
5.07 |
2.96 |
|
Assets Backing Ratio |
5.13 |
1.94 |
0.51 |
0.59 |
0.49 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
6.16 |
2.49 |
0.37 |
0.59 |
0.27 |
|
Net Profit Margin |
4.07 |
2.09 |
(0.21) |
0.22 |
(0.18) |
|
Return On Net Assets |
96.60 |
106.20 |
41.29 |
53.18 |
36.84 |
|
Return On Capital Employed |
62.77 |
36.17 |
4.88 |
9.78 |
5.05 |
|
Return On Shareholders' Funds/Equity |
62.12 |
73.82 |
(15.21) |
15.72 |
(16.65) |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.13 |
|
|
1 |
INR 92.51 |
|
Euro |
1 |
INR 80.59 |
|
MYR |
1 |
INR 16.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.