|
|
|
MIRA INFORM REPORT
|
Report No. : |
502578 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
WB COATINGS ASIA SDN. BHD. |
|
|
|
|
Registered Office : |
Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara,
Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, Malaysia. |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
07.04.2009 |
|
|
|
|
Com. Reg. No.: |
852581-W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the manufacture of specialty coatings. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
852581-W |
||||
|
GST NO. |
: |
000653164544 |
||||
|
COMPANY NAME |
: |
WB COATINGS ASIA SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/04/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LEVEL 7, MENARA MILENIUM, JALAN DAMANLELA, PUSAT BANDAR
DAMANSARA, DAMANSARA HEIGHTS, 50490 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
NO. 12A JALAN PALAM 34/18A, TAMAN PERINDUSTRIAN PAK CHUN,
SECTION 34 6TH MILE JALAN BUKIT KEMUNING,, 40470 SHAH ALAM, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51611318 |
||||
|
FAX.NO. |
: |
03-51667111 |
||||
|
CONTACT PERSON |
: |
WONG KEE LEONG ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
20221 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF SPECIALTY COATINGS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 5,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 3,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 3,108,617 [2016] |
||||
|
NET WORTH |
: |
MYR (2,012,902) [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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)
manufacture of specialty coatings.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The immediate holding company of the Subject is WARNECKE & BOHM
GMBH, a company incorporated in GERMANY.
The ultimate holding company of the Subject is CGD COATINGS GMBH,
a company incorporated in GERMANY.
Former Address(es)
|
Address |
As At Date |
|
10, JALAN SEJAHTERA 25/124, SECTION 25, AXIS PREMIER INDUSTRIAL
PARK, 40400, SELANGOR, MALAYSIA |
N/A |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
24/01/2011 |
MYR 5,000,000.00 |
MYR 3,000,000.00 |
|
12/04/2010 |
MYR 5,000,000.00 |
MYR 2,500,000.00 |
|
22/03/2010 |
MYR 5,000,000.00 |
MYR 2,250,000.00 |
|
20/01/2010 |
MYR 5,000,000.00 |
MYR 2,175,750.00 |
|
08/09/2009 |
MYR 5,000,000.00 |
MYR 1,000,000.00 |
|
07/04/2009 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. WONG KEE LEONG + |
UNIT A-03-08, PAPILLON DESAHILL CONDOMINIUM, 21, JALAN MORIB,
TAMAN DESA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
590611-08-5289 5693398 |
300,000.00 |
10.00 |
|
WARNECKE & BOHM GMBH |
LACK-UND FARBENFABRIK, WESTERBERGGSTRASSE 12, D-83727,
SCHLIERSEE GERMANY |
HRB140143 |
2,700,000.00 |
90.00 |
|
--------------- |
------ |
|||
|
3,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
CHOE CHEE MING |
MALAYSIA |
700525-10-6519 |
N/A |
N/A |
|
CHONG LAI LAI |
MALAYSIA |
760314-14-5184 |
N/A |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
DIRK MOLLENHAUER |
|
Address |
: |
DUESCHENHOFER WALD 64 A, 45257, ESSEN, GERMANY. |
|
IC / PP No |
: |
505179362 |
|
Date of Birth |
: |
01/09/1959 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
13/10/2017 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
852581W |
WB COATINGS ASIA SDN. BHD. |
Director |
13/10/2017 |
0.00 |
- |
MYR536,272.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. WONG KEE LEONG |
|
Address |
: |
UNIT A-03-08, PAPILLON DESAHILL CONDOMINIUM, 21, JALAN MORIB,
TAMAN DESA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
22,JALAN DANAU, TAMAN TASEK, 80200 JOHOR BAHRU;JOHOR., MALAYSIA. |
|
IC / PP No |
: |
5693398 |
|
New IC No |
: |
590611-08-5289 |
|
Date of Birth |
: |
11/06/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/04/2010 |
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 |
786292K |
AROMAS COFFEE SDN. BHD. |
Director |
28/08/2007 |
1.00 |
1.00 |
MYR(40,938.00) |
2008 |
Disolved by Registrar |
26/03/2018 |
|
2 |
1033519V |
IGREENLOVER SDN. BHD. |
Director |
31/01/2013 |
35,000.00 |
35.00 |
MYR(79,392.00) |
2014 |
Disolved by Registrar |
26/03/2018 |
|
3 |
1246561T |
ORANG3 PIPS SDN. BHD. |
Director |
13/09/2017 |
1,000.00 |
33.33 |
- |
2016 |
- |
26/03/2018 |
|
4 |
1154961P |
PANG KITCHEN AT VOIZSUP SDN. BHD. |
Director |
11/08/2015 |
0.00 |
- |
MYR(58,533.00) |
2016 |
- |
26/03/2018 |
|
5 |
1236140A |
TAKETEI SDN. BHD. |
Director |
21/06/2017 |
300.00 |
30.00 |
- |
2016 |
- |
26/03/2018 |
|
6 |
1111972W |
VOIZSUP INTERNATIONAL SDN. BHD. |
Director |
03/10/2014 |
170,760.00 |
42.69 |
MYR(831,524.00) |
2015 |
- |
26/03/2018 |
|
7 |
852581W |
WB COATINGS ASIA SDN. BHD. |
Director |
12/04/2010 |
300,000.00 |
10.00 |
MYR536,272.00 |
2016 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
981749A |
IGL MARKETING SDN. BHD. |
Director |
09/03/2012 |
01/08/2013 |
- |
- |
|
2 |
981749A |
IGL MARKETING SDN. BHD. |
Shareholder |
- |
- |
26667.00 |
- |
|
3 |
189776D |
PACIRIM SDN. BHD. |
Director |
10/04/1990 |
01/01/1995 |
- |
- |
|
4 |
246643P |
SHERWIN-WILLIAMS (MALAYSIA) SDN. BHD. |
Director |
08/07/1994 |
20/10/2004 |
- |
- |
|
5 |
422302P |
TREFFERT COATINGS (S.E.A.) SDN. BHD. |
Director |
10/03/1997 |
06/04/2011 |
- |
- |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
JOERN STOEVER |
NO. 41 JALAN PJU 7/28, MUTIARA DAMANSARA, PETALING JAYA,
SELANGOR, MALAYSIA |
CF7NV4R2X |
02/07/2009 |
17/01/2011 |
|
CHONG LAI LAI |
12,JALAN MARGOSA SD 10/5M,, BANDAR SRI DAMANSARA,, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
760314-14-5184 |
07/04/2009 |
07/06/2010 |
|
MARCEL PIETSCH |
MARSOPSTR. 8, MUNICH, GERMANY, MALAYSIA |
CH1H5RFK6 |
02/07/2009 |
13/10/2017 |
|
CHOE CHEE MING |
NO. 25, JALAN PUTERI 9/1, SEKSYEN 2, BANDAR MAHKOTA CHERAS, BATU
9 CHERAS, CHERAS, SELANGOR, MALAYSIA |
700525-10-6519 |
07/04/2009 |
04/06/2010 |
|
LEONG BEE LENG |
C-2-5 VISTA TASIK CONDOMINIUM, JALAN 5/106 BANDAR SRI PERMAISURI,
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
690916-10-5496 |
18/11/2011 |
18/05/2015 |
|
YEO PUAI ENG |
NO. 17, JALAN BAKAU, TAMAN MAJIDEE, JOHOR BAHRU, JOHOR, MALAYSIA |
670213-01-5728 |
17/01/2011 |
18/11/2011 |
|
IVAN TAY JENN HAU |
151, JALAN LIMAU PURUT 2, TAMAN KHET LOONG, KULAI, JOHOR,
MALAYSIA |
800326-01-5399 |
18/05/2015 |
03/08/2015 |
|
CHENG CHIA PING |
C-9-1, VILLA ANGSANA CONDO, JALAN KRIAN, OFF JALAN IPOH, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
760816-02-5385 |
03/08/2015 |
13/10/2017 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
WONG KEE LEONG |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
EAU LINE |
|
Position |
: |
FINANCE MANAGER |
|
|
3) |
Name of Subject |
: |
JOERN STOEVER |
|
Position |
: |
MANAGER |
AUDITOR
|
|
Auditor |
: |
SIEW BOON YEONG & ASSOCIATES |
|
Auditor' Address |
: |
9-C, JALAN MEDAN TUANKU, MEDAN TUANKU, 50300 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. CHUA SIEW CHUAN |
|
IC / PP No |
: |
5461293 |
|
|
New IC No |
: |
580826-05-5408 |
|
|
Address |
: |
6, JALAN SS 14/8E, 47500 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. CHENG CHIA PING |
|
IC / PP No |
: |
A3420548 |
|
|
New IC No |
: |
760816-02-5385 |
|
|
Address |
: |
C-9-1, VILLA ANGSANA CONDO, JALAN KRIAN, OFF JALAN IPOH, 51100
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
20/01/2010 |
CASH DEPOSIT |
OCBC BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No 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 |
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 |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
60% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of
specialty coatings.
The coating product is specially fro machinery equipment, glass and audio
industries.
The Subject isspecialized in developing a complete product range of
conventional, waterborne, high-solid and ultra high solid paint systems.
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 |
: |
03-51611318 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
N12A JALAN PALAM 34/18A TAMAN PERINDUSTRIAN PAK CHUN SECTOR 34
6TH MILE JALAN BUIT KEMUNING 40470 SHAH ALAM SELANGOR DARUL EHSAN |
|
Current Address |
: |
NO. 12A JALAN PALAM 34/18A, TAMAN PERINDUSTRIAN PAK CHUN,
SECTION 34 6TH MILE JALAN BUKIT KEMUNING,, 40470 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject and he provided
some information.
He refused to disclose the number of employees.
The address is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(26.64%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(30.98%) |
] |
|
|
The continuous fall in turnover could be due to the lower demand
for the Subject's products / services.The management had succeeded in turning
the Subject into a profit making company. The profit could be due to better
control of its operating costs and efficiency in utilising its resources. The
Subject's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
139 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
228 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
118 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The Subject's
debtors ratio was high. The Subject should tighten its credit control and
improve its collection period. The unfavourable creditors' ratio could be due
to the Subject taking advantage of the credit granted by its suppliers.
However this may affect the goodwill between the Subject and its suppliers
and the Subject may inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.43 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.58 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or injection
of fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
7.15 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no
sharp fall in its profit or sudden increase in the interest rates, we believe
the Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject had no gearing and hence it had virtually no
financial risk. The Subject was financed by its shareholders' funds and
internally generated fund. During the economic downturn, the Subject, having
a zero gearing, will be able to compete better than those which are highly
geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover decreased, its losses also decreased
during the year. This could be the result of more efficient control in its
operating costs. Due to its weak liquidity position, the Subject will be
faced with problems in meeting all its short term obligations if no short
term loan is obtained or additional capital injected into the Subject. The
Subject had an acceptable interest cover. If there is no sudden sharp
increase in interest rate or fall in the Subject's profit, we do believe the
Subject is able to generate sufficient cash flow to service its interest
payment. The Subject was a zero gearing company, it was solely dependant on
its shareholders to provide funds to finance its business. The Subject has
good chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
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 |
|
|
20221 : Manufacture of paints, varnishes and similar coatings
ink and mastics |
|
|
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
|
|
|
Financials
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
WB COATINGS ASIA SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
3,108,617 |
3,740,291 |
5,945,582 |
7,359,518 |
3,608,125 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
3,108,617 |
3,740,291 |
5,945,582 |
7,359,518 |
3,608,125 |
|
Costs of Goods Sold |
- |
- |
- |
- |
(3,356,949) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
- |
- |
251,176 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
536,272 |
(517,414) |
239,560 |
131,935 |
(1,321,618) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
536,272 |
(517,414) |
239,560 |
131,935 |
(1,321,618) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
536,272 |
(517,414) |
239,560 |
131,935 |
(1,321,618) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
(4,081,637) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
(4,081,637) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(5,012,902) |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(5,012,902) |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Loan from holding company |
87,248 |
87,248 |
87,248 |
87,248 |
172,527 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
87,248 |
87,248 |
87,248 |
87,248 |
172,527 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
145,691 |
190,682 |
157,256 |
153,760 |
163,957 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
145,691 |
190,682 |
157,256 |
153,760 |
163,957 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
WB COATINGS ASIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
712,109 |
759,792 |
943,074 |
960,173 |
894,766 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
712,109 |
759,792 |
943,074 |
960,173 |
894,766 |
|
CURRENT ASSETS |
|||||
|
Stocks |
932,004 |
637,381 |
725,366 |
938,792 |
1,069,128 |
|
Contract work-in-progress |
253,183 |
170,007 |
191,152 |
44,862 |
40,515 |
|
Trade debtors |
1,940,014 |
1,731,408 |
1,618,127 |
1,577,798 |
1,095,073 |
|
Other debtors, deposits & prepayments |
551,917 |
518,844 |
503,619 |
339,558 |
180,863 |
|
Amount due from director |
20,265 |
- |
- |
- |
- |
|
Cash & bank balances |
43,288 |
42,592 |
74,170 |
189,121 |
54,182 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
3,740,671 |
3,100,232 |
3,112,434 |
3,090,131 |
2,439,761 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
4,452,780 |
3,860,024 |
4,055,508 |
4,050,304 |
3,334,527 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
1,007,448 |
660,358 |
1,290,063 |
1,473,788 |
1,031,975 |
|
Other creditors & accruals |
175,689 |
215,233 |
242,207 |
201,854 |
371,907 |
|
Amounts owing to holding company |
5,282,545 |
5,517,063 |
4,492,901 |
4,504,015 |
4,243,034 |
|
Amounts owing to director |
- |
16,544 |
62,097 |
141,967 |
90,866 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
6,465,682 |
6,409,198 |
6,087,268 |
6,321,624 |
5,737,782 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(2,725,011) |
(3,308,966) |
(2,974,834) |
(3,231,493) |
(3,298,021) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(2,012,902) |
(2,549,174) |
(2,031,760) |
(2,271,320) |
(2,403,255) |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
(5,012,902) |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(5,012,902) |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(2,012,902) |
(2,549,174) |
(2,031,760) |
(2,271,320) |
(2,403,255) |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
WB COATINGS ASIA SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
43,288 |
42,592 |
74,170 |
189,121 |
54,182 |
|
Net Liquid Funds |
43,288 |
42,592 |
74,170 |
189,121 |
54,182 |
|
Net Liquid Assets |
(3,657,015) |
(3,946,347) |
(3,700,200) |
(4,170,285) |
(4,367,149) |
|
Net Current Assets/(Liabilities) |
(2,725,011) |
(3,308,966) |
(2,974,834) |
(3,231,493) |
(3,298,021) |
|
Net Tangible Assets |
(2,012,902) |
(2,549,174) |
(2,031,760) |
(2,271,320) |
(2,403,255) |
|
Net Monetary Assets |
(3,657,015) |
(3,946,347) |
(3,700,200) |
(4,170,285) |
(4,367,149) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
623,520 |
(430,166) |
326,808 |
219,183 |
(1,149,091) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
769,211 |
(239,484) |
484,064 |
372,943 |
(985,134) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
6,465,682 |
6,409,198 |
6,087,268 |
6,321,624 |
5,737,782 |
|
Total Assets |
4,452,780 |
3,860,024 |
4,055,508 |
4,050,304 |
3,334,527 |
|
Net Assets |
(2,012,902) |
(2,549,174) |
(2,031,760) |
(2,271,320) |
(2,403,255) |
|
Net Assets Backing |
(2,012,902) |
(2,549,174) |
(2,031,760) |
(2,271,320) |
(2,403,255) |
|
Shareholders' Funds |
(2,012,902) |
(2,549,174) |
(2,031,760) |
(2,271,320) |
(2,403,255) |
|
Total Share Capital |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
3,000,000 |
|
Total Reserves |
(5,012,902) |
(5,549,174) |
(5,031,760) |
(5,271,320) |
(5,403,255) |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(16.89) |
(37.09) |
(19.21) |
103.97 |
90.30 |
|
Proft/(Loss) Before Tax |
203.64 |
(315.99) |
81.57 |
109.98 |
19.61 |
|
Proft/(Loss) After Tax |
203.64 |
(315.99) |
81.57 |
109.98 |
19.61 |
|
Total Assets |
15.36 |
(4.82) |
0.13 |
21.47 |
15.28 |
|
Total Liabilities |
0.88 |
5.29 |
(3.71) |
10.18 |
44.38 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.01 |
0.01 |
0.01 |
0.03 |
0.01 |
|
Liquid Ratio |
0.43 |
0.38 |
0.39 |
0.34 |
0.24 |
|
Current Ratio |
0.58 |
0.48 |
0.51 |
0.49 |
0.43 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
139 |
79 |
56 |
49 |
112 |
|
Debtors Ratio |
228 |
169 |
99 |
78 |
111 |
|
Creditors Ratio |
118 |
64 |
79 |
73 |
112 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
(3.21) |
(2.51) |
(3.00) |
(2.78) |
(2.39) |
|
Times Interest Earned Ratio |
7.15 |
(4.93) |
3.75 |
2.51 |
(6.66) |
|
Assets Backing Ratio |
(0.67) |
(0.85) |
(0.68) |
(0.76) |
(0.80) |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
17.25 |
(13.83) |
4.03 |
1.79 |
(36.63) |
|
Net Profit Margin |
17.25 |
(13.83) |
4.03 |
1.79 |
(36.63) |
|
Return On Net Assets |
(30.98) |
16.87 |
(16.08) |
(9.65) |
47.81 |
|
Return On Capital Employed |
(30.98) |
16.87 |
(16.08) |
(9.65) |
47.81 |
|
Return On Shareholders' Funds/Equity |
(26.64) |
20.30 |
(11.79) |
(5.81) |
54.99 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
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.