|
|
|
MIRA INFORM REPORT
|
Report No. : |
503254 |
|
Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
EVYAP SABUN
MALAYSIA SDN. BHD. |
|
|
|
|
Registered Office : |
Unit 30-01, Level 30, Tower A, Vertical
Business Suite, Avenue 3, Bangsar South, No 8, Jalan Kerinchi, 59200 Kuala
Lumpur, Wilayah Persekutuan, |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
18.05.2011 |
|
|
|
|
Com. Reg. No.: |
944963-M |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacturing of soap and personal care products. |
|
|
|
|
No. of Employees : |
550 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
-- |
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. |
: |
944963-M |
||||
|
GST NO. |
: |
001575698432 |
||||
|
COMPANY NAME |
: |
EVYAP SABUN MALAYSIA SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
18/05/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
UNIT 30-01, LEVEL 30, TOWER A, VERTICAL
BUSINESS SUITE, AVENUE 3, BANGSAR SOUTH, NO 8, JALAN KERINCHI, 59200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
PLO 70, JALAN NIBONG 4, TANJUNG LANGSAT
INDUSTRIAL COMPLEX, 81700 PASIR GUDANG, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-2520999/2527000/2520888 |
||||
|
FAX.NO. |
: |
07-2520777 |
||||
|
WEB SITE |
: |
WWW.EVYAP.COM.TR |
||||
|
CONTACT PERSON |
: |
MEHMET FETHI EVYAP ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
20231 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF SOAP AND PERSONAL CARE
PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 750,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 750,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 672,778,054 [2016] |
||||
|
NET WORTH |
: |
MYR 641,793,738 [2016] |
||||
|
STAFF STRENGTH |
: |
550 [2018] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
SLOW BUT CORRECT |
||||
|
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) manufacturing of soap and personal care products.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the Subject
is ENYAP SABUN YAG GLISERIN SANAYI VE TICARET A.S., a company incorporated in
TURKEY.
The ultimate holding company of the Subject
is ENYAP HOLDINGS A.S., a company incorporated in TURKEY.
Former Address(es)
|
Address |
As At Date |
|
LEVEL 18, THE GARDENS NORTH TOWER, MID
VALLEY CITY, LINGKARAN SYED PUTRA, 59200, WILAYAH PERSEKUTUAN, MALAYSIA |
20/09/2015 |
|
PLO 414, JALAN PERAK, PASIR GUDANG
INDUSTRIAL ESTATE, 81700, JOHOR, MALAYSIA |
N/A |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
02/09/2016 |
MYR 750,000,000.00 |
MYR 750,000,000.00 |
|
02/11/2015 |
MYR 500,000,000.00 |
MYR 450,000,000.00 |
|
29/08/2012 |
MYR 100,000,000.00 |
MYR 77,113,366.00 |
|
31/12/2011 |
MYR 100,000,000.00 |
MYR 21,806,786.00 |
|
15/11/2011 |
MYR 100,000,000.00 |
MYR 7,427,620.00 |
|
18/05/2011 |
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 |
(%) |
|
EVYAP HOLDING AS |
AYAZAG A MAHALLESI, KEMERBURGAZ CADDESI,
NO.1, SISLI, TURKEY 00000 ,TURKEY |
XLZ166189 |
375,000,000.00 |
50.00 |
|
EVYAP SABUN YAG GLISERIN SANAYI VE TICARET
AS |
AYAZAG A MAHALLESI, KAMERBURGAZ CADDESI,
NO.1, SISLI, TURKEY 00000 ,TURKEY |
XLZ104582 |
375,000,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
750,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. MEHMET FETHI EVYAP |
|
Address |
: |
MIRGUN MAH. HAKKAK YUMNI SOK, NO.17
EMIRGAN-ISTANBUL, TURKEY |
|
IC / PP No |
: |
U03197881 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
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 |
969426M |
EVYAP PALM OIL SOAPS SDN. BHD. |
Director |
29/04/2015 |
0.00 |
- |
MYR(120,506.00) |
2016 |
- |
26/03/2018 |
|
2 |
944963M |
EVYAP SABUN MALAYSIA SDN. BHD. |
Director |
18/05/2011 |
0.00 |
- |
MYR(14,686,217.00) |
2016 |
- |
26/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
EKREM ERDEM |
|
Address |
: |
NO. 16 JALAN AUSTOIN HEIGHTS, 1/4 TAMAN
MOUNT AUSTIN, 81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
Other Address(es) |
: |
7, JALAN PINGGIRAN 6/3, HORIZON HILLS,
79100 NUSAJAYA, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
U07251345 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
29/04/2015 |
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 |
969426M |
EVYAP PALM OIL SOAPS SDN. BHD. |
Director |
29/04/2015 |
0.00 |
- |
MYR(120,506.00) |
2016 |
- |
26/03/2018 |
|
2 |
944963M |
EVYAP SABUN MALAYSIA SDN. BHD. |
Director |
29/04/2015 |
0.00 |
- |
MYR(14,686,217.00) |
2016 |
- |
26/03/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MEHMED EVYAP |
|
Address |
: |
ORTAKOY MAHALLESI ADNAN SAYGUN, CADDESI NO.
64 BLOK D.3 ULUS, BESIKTAS ISTANBUL TURKEY |
|
IC / PP No |
: |
U11388985 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
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 |
944963M |
EVYAP SABUN MALAYSIA SDN. BHD. |
Director |
18/05/2011 |
0.00 |
- |
MYR(14,686,217.00) |
2016 |
- |
26/03/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
OMER FETHI EVYAP |
|
Address |
: |
MIRGUN MAH. HAKKAK YUMNI SOK, NO.17
EMIRGAN-ISTANBUL |
|
IC / PP No |
: |
U06493398 |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
18/05/2011 |
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 |
944963M |
EVYAP SABUN MALAYSIA SDN. BHD. |
Director |
18/05/2011 |
0.00 |
- |
MYR(14,686,217.00) |
2016 |
- |
26/03/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. SAW LEE CHYAN |
|
Address |
: |
30, JALAN SHB 5,, SUBANG HEIGHTS WEST,,
47500 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
- 116 MEDAN TEMBAGA, 11600 GEORGETOWN,
PENANG, MALAYSIA. - 227 USJ 12/1, SUBANG JAYA, 47630 SUBANG JAYA,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A2944067 |
|
New IC No |
: |
741108-07-5521 |
|
Date of Birth |
: |
08/11/1974 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/11/2016 |
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 |
944963M |
EVYAP SABUN MALAYSIA SDN. BHD. |
Director |
08/11/2016 |
0.00 |
- |
MYR(14,686,217.00) |
2016 |
- |
26/03/2018 |
|
2 |
1168277M |
FLEXIS SOLUTIONS SDN. BHD. |
Director |
07/12/2015 |
36,000.00 |
36.00 |
MYR216,000.00 |
2016 |
- |
26/03/2018 |
|
3 |
1038981D |
NOVICHEM SDN. BHD. |
Director |
19/03/2013 |
4,500.00 |
90.00 |
MYR133,190.00 |
2016 |
- |
26/03/2018 |
|
4 |
310163P |
SAW EWE TEIK TRADING SDN. BHD. |
Director |
20/05/2005 |
4,000.00 |
8.00 |
- |
2016 |
- |
26/03/2018 |
|
5 |
1061223U |
SYNERGIE CHEM SDN. BHD. |
Director |
06/09/2013 |
140,000.00 |
70.00 |
MYR8,861.00 |
2016 |
- |
26/03/2018 |
|
6 |
950674U |
VOICE POWER STUDIO SDN. BHD. |
Director |
29/06/2011 |
125,000.00 |
50.00 |
MYR5,047.00 |
2016 |
- |
26/03/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
SA0341169D |
FLEXIS SOLUTIONS |
PARTNERSHIP |
04/06/2015 |
33.00 |
Expired |
26/03/2018 |
|
2 |
PG0094160M |
SAW LEE CHYAN TRADING |
SOLE PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
587027T |
KL-KEPONG OLEOMAS SDN. BHD. |
Director |
18/04/2011 |
08/03/2013 |
- |
- |
|
2 |
629076P |
KLK BIOENERGY SDN BHD |
Director |
10/06/2011 |
08/03/2013 |
- |
- |
|
3 |
1100362V |
NJC MALAYSIA SDN. BHD. |
Director |
04/07/2014 |
30/12/2016 |
- |
- |
|
4 |
1100362V |
NJC MALAYSIA SDN. BHD. |
Shareholder |
- |
- |
- |
- |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
ANNUAR BIN MOHD SALLEH |
578 JALAN LAVENDER HEIGHTS, SEREMBAN |
400206-05-5027 |
18/05/2011 |
12/11/2013 |
|
ZEYNEP EVYAP |
MIRGUN MAHALLESI, CAMFISTIGI SOKAK, NO.15
RESITPASA-ISTAMBUL |
U01814558 |
18/05/2011 |
22/12/2016 |
|
TANUJ ROY |
NO 3, RINTING HEIGHTS, JALAN KERUING 17,
TAMAN RINTING, MASAI, JOHOR, MALAYSIA |
Z2253291 |
18/05/2011 |
29/04/2015 |
|
MEHMET SERTESER |
ERENKOY, OMER PASA SOKAK, NO.24, CANDARLI
APARTMENT KAT 2, DAIRE NO.5, KADIKOY, ISTANBUL, TURKEY, MALAYSIA |
U02830677 |
18/05/2011 |
22/06/2015 |
|
WONG WAI FOONG |
1164, JALAN 17/46, HAPPY GARDEN, PETALING
JAYA, SELANGOR, MALAYSIA |
660510-10-6838 |
18/05/2011 |
01/01/2016 |
|
GULDAL ATILLA |
RESIT BELGSAY SOKAK, NO.6/17 CADDEBOSTON-
KADIKOY |
TR-U557290 |
18/05/2011 |
22/06/2015 |
|
DR MARTIN GEORG RUDOLPH |
B18-02 SKY PEAK RESIDENCES, JALAN SETIA TROPIKA
1/21, TAMAN SETIA TROPIKA, KEMPAS, JOHOR, MALAYSIA |
C4WRR5R3LP |
22/06/2015 |
22/12/2016 |
|
ELIF EMINE EVYAP |
MIRGUN MAH, HAKKAK YUMNI SOK, NO.17
EMIRGAN-ISTANBUL |
U07017601 |
07/06/2012 |
22/12/2016 |
Note : The above information was generated from
our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
MEHMET FETHI EVYAP |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG PLT (LLP0010081-LCA) |
|
Auditor' Address |
: |
LEVEL 10, KPMG TOWER,, 8 FIRST AVENUE, BANDAR
UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. KUAN HUI FANG |
|
IC / PP No |
: |
A1845678 |
|
|
New IC No |
: |
710224-10-5204 |
|
|
Address |
: |
23,JALAN BU 3/2, BDR UTAMA, PETALING
JAYA,SELANGOR, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. CHONG LAY KIM |
|
New IC No |
: |
711218-08-5272 |
|
|
Address |
: |
2-2-10, PANGSAPURI SERI GALAKSI, 1, JALAN
NOVA U5/86, SEKSYEN U5 SUBANG BESTARI, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
21/06/2012 |
FIRST PARTY SECURITY OVER DEPOSIT |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
2 |
07/09/2015 |
CHARGE ON DEPOSIT |
DEUTSCHE 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 winding up petition was found in our databank.
There is/are SETTLED litigation case(s) on the Subject in our database as
below:
- 1 case(s) filed in year 2015
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 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its supplier.
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 |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
550 |
500 |
500 |
500 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of soap
and personal care products.
The Subject produces wide range of soap, liquid care/wash, personal care,
cosmetics and hygiene care products.
They sell as one of top two brands in Russia, Ukraine, Belarus, Romania,
Poland, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Albania, Moldova and
many other markets.
The Subject use high technology of machine in order to produce high quality of
products.
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 |
: |
07-2520999/2527000/2520888 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
PLO 70, JALAN NIBONG 4, TANJUNG LANGSAT INDUSTRIAL
COMPLEX, 81700 PASIR GUDANG,JOHOR DARUL TAKZIM MALAYSIA |
|
Current Address |
: |
PLO 70, JALAN NIBONG 4, TANJUNG LANGSAT
INDUSTRIAL COMPLEX, 81700 PASIR GUDANG, JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(2.29%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
3.09% |
] |
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.The Subject could be more efficient in controlling its
operating costs and had managed to reduce its losses during the year. 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 |
: |
Acceptable |
[ |
59 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
The Subject kept adequate stocks to meet
its normal business transactions without incurring excessive storage costs.
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 |
[ |
1.03 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.29 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 |
: |
Unfavourable |
[ |
0.58 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.67 Times |
] |
|
|
The Subject's interest cover was low. If
its profits fall or when interest rate rises, it may not be able to
meet all its interest payment. 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 higher turnover had helped to reduce
the Subject's losses. 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. If there is a fall in the Subject's profit or any increase in
interest rate, the Subject may not be able to generate sufficient cash-flow
to service its interest. 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
: LIMITED |
||||||
|
|
||||||
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 |
|
|
20231 : Manufacture of soap and detergents,
cleaning and polishing preparations |
|
|
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
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
EVYAP SABUN MALAYSIA 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 |
672,778,054 |
446,022,383 |
69,224,170 |
- |
- |
|
Other Income |
549,277 |
446,442 |
1,071,214 |
480,000 |
137,416 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
673,327,331 |
446,468,825 |
70,295,384 |
480,000 |
137,416 |
|
Costs of Goods Sold |
(574,056,062) |
(425,619,407) |
(67,483,140) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
99,271,269 |
20,849,418 |
2,812,244 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(14,649,496) |
(83,064,592) |
(75,641,402) |
(16,005,924) |
(10,716,931) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(14,649,496) |
(83,064,592) |
(75,641,402) |
(16,005,924) |
(10,716,931) |
|
Taxation |
(36,721) |
119,461 |
(90,496) |
(157,796) |
(122,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(14,686,217) |
(82,945,131) |
(75,731,898) |
(16,163,720) |
(10,838,931) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(138,039,065) |
(103,029,938) |
(27,298,040) |
(11,134,320) |
(295,389) |
|
Prior year adjustment |
- |
47,936,004 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(138,039,065) |
(55,093,934) |
(27,298,040) |
(11,134,320) |
(295,389) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(152,725,282) |
(138,039,065) |
(103,029,938) |
(27,298,040) |
(11,134,320) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(152,725,282) |
(138,039,065) |
(103,029,938) |
(27,298,040) |
(11,134,320) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
34,479,336 |
47,720,559 |
5,090,971 |
211,731 |
1,920,025 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
34,479,336 |
47,720,559 |
5,090,971 |
211,731 |
1,920,025 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
47,258,871 |
43,135,136 |
11,758,327 |
588,104 |
197,861 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
47,258,871 |
43,135,136 |
11,758,327 |
588,104 |
197,861 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
EVYAP SABUN MALAYSIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
887,581,247 |
872,561,381 |
649,473,157 |
331,555,140 |
89,751,404 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
887,581,247 |
872,561,381 |
649,473,157 |
331,555,140 |
89,751,404 |
|
CURRENT ASSETS |
|||||
|
Stocks |
61,986,066 |
51,018,017 |
51,135,496 |
- |
- |
|
Contract work-in-progress |
47,258,989 |
21,824,369 |
45,289,016 |
- |
- |
|
Trade debtors |
84,946,459 |
56,352,969 |
2,672,727 |
- |
- |
|
Other debtors, deposits & prepayments |
18,150,066 |
14,538,763 |
6,865,984 |
7,031,336 |
18,300,386 |
|
Short term deposits |
- |
8,283,620 |
3,462,856 |
24,315,000 |
215,873,687 |
|
Amount due from holding company |
17,364,422 |
11,854,740 |
4,339,965 |
- |
- |
|
Amount due from related companies |
48,349,676 |
63,489,981 |
15,643,649 |
2,214,230 |
4,365,928 |
|
Cash & bank balances |
22,462,792 |
3,882,384 |
12,015,364 |
18,933,874 |
1,943,547 |
|
Others |
174,021 |
166,367 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
300,692,491 |
231,411,210 |
141,425,057 |
52,494,440 |
240,483,548 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,188,273,738 |
1,103,972,591 |
790,898,214 |
384,049,580 |
330,234,952 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
24,252,191 |
23,732,228 |
12,345,693 |
- |
- |
|
Other creditors & accruals |
26,754,964 |
31,273,512 |
48,409,676 |
28,511,105 |
22,154,886 |
|
Hire purchase & lease creditors |
16,568,842 |
7,822,226 |
455,350 |
- |
- |
|
Short term borrowings/Term loans |
48,762,562 |
46,638,198 |
73,032,084 |
7,745,636 |
- |
|
Bill & acceptances payable |
50,520,274 |
5,779,191 |
- |
- |
- |
|
Amounts owing to holding company |
50,560,295 |
297,687,270 |
262,583,962 |
2,779,384 |
339,185 |
|
Amounts owing to related companies |
15,230,207 |
14,878,094 |
9,831,946 |
7,996,761 |
187,635 |
|
Provision for taxation |
- |
- |
19,909 |
8,004 |
22,600 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
232,649,335 |
427,810,719 |
406,678,620 |
47,040,890 |
22,704,306 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
68,043,156 |
(196,399,509) |
(265,253,563) |
5,453,550 |
217,779,242 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
246,980,490 |
282,858,869 |
338,695,187 |
287,184,364 |
241,542,600 |
|
Lease obligations |
66,850,175 |
79,082,139 |
71,440,979 |
- |
- |
|
Deferred taxation |
- |
- |
- |
9,000 |
9,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
313,830,665 |
361,941,008 |
410,136,166 |
287,193,364 |
241,551,600 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
641,793,738 |
314,220,864 |
(25,916,572) |
49,815,326 |
65,979,046 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
750,000,000 |
450,000,000 |
77,113,366 |
77,113,366 |
77,113,366 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
750,000,000 |
450,000,000 |
77,113,366 |
77,113,366 |
77,113,366 |
|
RESERVES |
|||||
|
Exchange equalisation/fluctuation reserve |
44,519,020 |
2,259,929 |
- |
- |
- |
|
Retained profit/(loss) carried forward |
(152,725,282) |
(138,039,065) |
(103,029,938) |
(27,298,040) |
(11,134,320) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(108,206,262) |
(135,779,136) |
(103,029,938) |
(27,298,040) |
(11,134,320) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
641,793,738 |
314,220,864 |
(25,916,572) |
49,815,326 |
65,979,046 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
EVYAP SABUN MALAYSIA SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
22,462,792 |
12,166,004 |
15,478,220 |
43,248,874 |
217,817,234 |
|
Net Liquid Funds |
(28,057,482) |
6,386,813 |
15,478,220 |
43,248,874 |
217,817,234 |
|
Net Liquid Assets |
6,057,090 |
(247,417,526) |
(316,389,059) |
5,453,550 |
217,779,242 |
|
Net Current Assets/(Liabilities) |
68,043,156 |
(196,399,509) |
(265,253,563) |
5,453,550 |
217,779,242 |
|
Net Tangible Assets |
641,793,738 |
314,220,864 |
(25,916,572) |
49,815,326 |
65,979,046 |
|
Net Monetary Assets |
(307,773,575) |
(609,358,534) |
(726,525,225) |
(281,739,814) |
(23,772,358) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
19,829,840 |
(35,344,033) |
(70,550,431) |
(15,794,193) |
(8,796,906) |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
67,088,711 |
7,791,103 |
(58,792,104) |
(15,206,089) |
(8,599,045) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
429,682,343 |
422,180,623 |
483,623,600 |
294,930,000 |
241,542,600 |
|
Total Liabilities |
546,480,000 |
789,751,727 |
816,814,786 |
334,234,254 |
264,255,906 |
|
Total Assets |
1,188,273,738 |
1,103,972,591 |
790,898,214 |
384,049,580 |
330,234,952 |
|
Net Assets |
641,793,738 |
314,220,864 |
(25,916,572) |
49,815,326 |
65,979,046 |
|
Net Assets Backing |
641,793,738 |
314,220,864 |
(25,916,572) |
49,815,326 |
65,979,046 |
|
Shareholders' Funds |
641,793,738 |
314,220,864 |
(25,916,572) |
49,815,326 |
65,979,046 |
|
Total Share Capital |
750,000,000 |
450,000,000 |
77,113,366 |
77,113,366 |
77,113,366 |
|
Total Reserves |
(108,206,262) |
(135,779,136) |
(103,029,938) |
(27,298,040) |
(11,134,320) |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
50.84 |
544.32 |
- |
- |
- |
|
Proft/(Loss) Before Tax |
82.36 |
(9.81) |
(372.58) |
(49.35) |
- |
|
Proft/(Loss) After Tax |
82.29 |
(9.52) |
(368.53) |
(49.13) |
(3,569.38) |
|
Total Assets |
7.64 |
39.58 |
105.94 |
16.30 |
1,430.84 |
|
Total Liabilities |
(30.80) |
(3.31) |
144.38 |
26.48 |
434,774.61 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.10 |
0.03 |
0.04 |
0.92 |
9.59 |
|
Liquid Ratio |
1.03 |
0.42 |
0.22 |
1.12 |
10.59 |
|
Current Ratio |
1.29 |
0.54 |
0.35 |
1.12 |
10.59 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
59 |
60 |
508 |
0 |
0 |
|
Debtors Ratio |
46 |
46 |
14 |
0 |
0 |
|
Creditors Ratio |
15 |
20 |
67 |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.67 |
1.34 |
(18.66) |
5.92 |
3.66 |
|
Liabilities Ratio |
0.85 |
2.51 |
(31.52) |
6.71 |
4.01 |
|
Times Interest Earned Ratio |
0.58 |
(0.74) |
(13.86) |
(74.60) |
(4.58) |
|
Assets Backing Ratio |
0.86 |
0.70 |
(0.34) |
0.65 |
0.86 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(2.18) |
(18.62) |
(109.27) |
0 |
0 |
|
Net Profit Margin |
(2.18) |
(18.60) |
(109.40) |
0 |
0 |
|
Return On Net Assets |
3.09 |
(11.25) |
272.22 |
(31.71) |
(13.33) |
|
Return On Capital Employed |
2.04 |
(5.17) |
(18.34) |
(4.69) |
(2.86) |
|
Return On Shareholders' Funds/Equity |
(2.29) |
(26.40) |
292.21 |
(32.45) |
(16.43) |
|
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 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
|
MYR |
1 |
INR 16.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.