|
|
|
MIRA INFORM REPORT
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Report No. : |
504274 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
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|
|
Formerly Known As : |
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|
Registered Office : |
Suite 6.1A, Level 6, Menara
Pelangi, Jalan Kuning, Taman Pelangi, 80400 Johor Bahru, Johor |
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|
Country : |
Malaysia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
24.10.1991 |
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Com. Reg. No.: |
227546-T |
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|
|
|
Legal Form : |
Private Limited (Limited By Share) |
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|
|
|
Line of Business : |
Subject is engaged in the manufacturing of polyester resins and
specialty chemical. |
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|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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|
|
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 |
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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. |
: |
227546-T |
||||
|
GST NO. |
: |
000788660224 |
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|
COMPANY NAME |
: |
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
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FORMER NAME |
: |
CRAY VALLEY RESINS (MALAYSIA) SDN. BHD. (03/10/2011) |
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INCORPORATION DATE |
: |
24/10/1991 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
SUITE 6.1A, LEVEL 6, MENARA PELANGI, JALAN KUNING, TAMAN
PELANGI, 80400 JOHOR BAHRU, JOHOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
PLO 491, JALAN KELULI, PASIR GUDANG INDUSTRIAL ESTATE, 81700
PASIR GUDANG, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-2536688 |
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FAX.NO. |
: |
07-2528882 |
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|
WEB SITE |
: |
WWW.ARKEMA.COM |
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|
CONTACT PERSON |
: |
CHONG YOON HOCK ( DIRECTOR ) |
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INDUSTRY CODE |
: |
20299 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF POLYESTER RESINS AND SPECIALTY CHEMICAL |
||||
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 26,000,000.00 DIVIDED INTO |
||||
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SALES |
: |
MYR 244,342,000 [2016] |
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NET WORTH |
: |
MYR 47,448,000 [2016] |
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STAFF STRENGTH |
: |
150 [2018] |
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|
||||||
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LITIGATION |
: |
CLEAR |
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DEFAULTER CHECK |
: |
CLEAR |
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FINANCIAL CONDITION |
: |
STABLE |
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PAYMENT |
: |
REGULAR |
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MANAGEMENT CAPABILITY |
: |
GOOD |
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COMMERCIAL RISK |
: |
LOW |
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CURRENCY EXPOSURE |
: |
HIGH |
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GENERAL REPUTATION |
: |
GOOD |
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|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
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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 polyester resins and specialty chemical.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The immediate and ultimate holding company of the Subject is
ARKEMA ASIE SAS, a company incorporated in FRANCE.
Former Address(es)
|
Address |
As At Date |
|
SUITE 8A, LEVEL 8, MENARA ANSAR, JALAN TRUS, 80000, JOHOR,
MALAYSIA |
18/09/2007 |
|
ROOM 3, 12TH FLOOR, KOMPLEKS TUN ABDUL RAZAK, 80000, JOHOR,
MALAYSIA |
27/01/1999 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
21/01/1998 |
MYR 50,000,000.00 |
MYR 26,000,000.00 |
|
28/04/1994 |
MYR 10,000,000.00 |
MYR 9,000,000.00 |
|
24/09/1993 |
MYR 10,000,000.00 |
MYR 4,402,730.00 |
|
12/11/1991 |
MYR 25,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ARKEMA ASIE SAS |
420, RUE D'ESTIENNE D'ORVES, 92700 COLOMBES FRANCE |
418 681 029 |
26,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
26,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
TOTAL CHIMIE |
N/A |
XLZ0004277 |
26,000,000.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHONG YOON HOCK |
|
Address |
: |
BLOCK F7-W1, THE STRAITS VIEW CONDOMINIUM, BANDAR BARU PERMAS
JAYA, 81750 MASAI, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
A0998298 |
|
New IC No |
: |
680503-10-5229 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
31/07/2012 |
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 |
227546T |
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
Director |
31/07/2012 |
0.00 |
- |
MYR12,908,000.00 |
2016 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
629172D |
EPONT COATINGS SDN. BHD. |
Director |
24/09/2003 |
02/12/2004 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
ARIE, MAX TAIEB |
|
Address |
: |
19, RUE RIBERA, 75016 PARIS, FRANCE. |
|
IC / PP No |
: |
05RR86509 |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
22/05/2015 |
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 |
227546T |
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
Director |
22/05/2015 |
0.00 |
- |
MYR12,908,000.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
FRANCOIS, PIERRE, HERVE DELMAS |
|
Address |
: |
259, JALAN KAMPUNG TEBING TEMBAH, KAMPUNG TEBING TEMBAH, 23100
PAKA, TERENGGANU, MALAYSIA. |
|
IC / PP No |
: |
11AI14282 |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
30/09/2015 |
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 |
227546T |
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
Director |
30/09/2015 |
0.00 |
- |
MYR12,908,000.00 |
2016 |
- |
26/03/2018 |
|
2 |
968085X |
ARKEMA THIOCHEMICALS SDN. BHD. |
Director |
01/10/2015 |
0.00 |
- |
MYR17,253,078.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
KENNY GAN BOON KIEN |
|
Address |
: |
BLOCK 49, 04-03, HILLVIEW AVENUE, 669615, SINGAPORE. |
|
IC / PP No |
: |
E4433150L |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
19/03/2018 |
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 |
227546T |
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
Director |
19/03/2018 |
0.00 |
- |
MYR12,908,000.00 |
2016 |
- |
26/03/2018 |
|
2 |
456473W |
ARKEMA SDN. BHD. |
Director |
05/10/2010 |
0.00 |
- |
MYR674,743.00 |
2016 |
Winding-Up by Member Voluntary |
26/03/2018 |
|
3 |
968085X |
ARKEMA THIOCHEMICALS SDN. BHD. |
Director |
20/12/2014 |
0.00 |
- |
MYR17,253,078.00 |
2016 |
- |
26/03/2018 |
|
4 |
963485W |
CJ BIO MALAYSIA SDN. BHD. |
Director |
20/12/2014 |
0.00 |
- |
MYR166,255,334.00 |
2016 |
- |
26/03/2018 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
ZULAINA BINTI ABD HAMID |
NO.1,JALAN BELIA, KG MELAYU MAJIDEE, JOHOR BAHRU,JOHOR., JOHOR BAHRU,
JOHOR, MALAYSIA |
570101-01-6576 |
24/10/1991 |
30/08/2006 |
|
YEO CHIEW LAN |
7,JALAN RUMBIA 68, TAMAN DAYA, JOHOR BAHRU., JOHOR BAHRU, JOHOR,
MALAYSIA |
640715-01-6264 |
01/09/1999 |
01/12/2012 |
|
TOM VESTLI |
NO 4 BINJAI HILL, SINGAPORE ., MALAYSIA |
95J0595275 |
16/04/1996 |
16/11/1997 |
|
SHUM MAN HING |
NO. 15, JALAN JELITA 13, TAMAN PELANGI INDAH, ULU TIRAM, JOHOR,
MALAYSIA |
511205-08-5517 |
29/06/2002 |
01/01/2007 |
|
TEE CHEE CHENG |
NO. 97, JALAN IMPIAN EMAS 60, TAMAN IMPIAN EMAS, SKUDAI, JOHOR,
MALAYSIA |
640528-05-5639 |
01/01/2007 |
31/07/2012 |
|
THIERRY PIERRE JOSEPH KUTER |
28,AVENUE FOCH, 92,SAINT CLOUD |
99VL64284 |
29/06/2002 |
01/02/2005 |
|
RENAUD JEAN MICHEAL LESTAGE |
03-RUE, MARGUERITTE, PARIS 17 |
94CL28722 |
01/02/2005 |
31/03/2009 |
|
SHAHNIZA ANOM BTE ELIAS |
63, JALAN TEMBAGA MERAH 9, TAMAN SRI SKUDAI, JOHOR BAHRU, JOHOR,
MALAYSIA |
680929-01-5802 |
01/09/1993 |
01/09/1999 |
|
OIVIND ISAKEN |
ASVN 11,N-1320 STABEKK, NORWAY. |
G0383581 |
12/03/1993 |
18/06/1996 |
|
PATRICK,PIERRE,JEAN CHAUSSERIE-LAPREE |
279, BIS ROUTE DE 1\'EMPEREUR, RUEIL-MALMAISON, FRANCE, MALAYSIA |
05BR78318 |
23/12/2005 |
01/07/2011 |
|
MICHEL,DANIEL,LOUIS,MOULIN |
20 JALAN GOLF CLUB, IPOH,PERAK, IPOH, PERAK, MALAYSIA |
97FC60514 |
28/02/2001 |
01/07/2002 |
|
NORIAH BINTI MD YUSOF |
28,JALAN IMPIAN EMAS 13, TAMAN IMPIAN EMAS, JOHOR BAHRU, JOHOR
BAHRU, JOHOR, MALAYSIA |
690319-01-5994 |
01/01/1970 |
02/01/1993 |
|
LAURENT GERARD SUSPENE |
HOUSE 103, PALM DRIVE, THE REDHILL PENINSULAR, 18 PAK PAT SHAN
ROAD, TAI TAM, HONG KONG |
10AV09886 |
26/08/2010 |
01/12/2012 |
|
LAURENT, FABRICE PEYRONNEAU |
745-1, HANNAM-DONG, YONGSAN-GU, SEOUL, KOREA. |
08CT21351 |
01/04/2009 |
26/08/2010 |
|
JORN LUNDE |
HASSELVEIEN 15, 1344 HASLUM NORWAY. |
94J0304781 |
16/04/1996 |
30/09/2000 |
|
GLOTZER ROLAND |
2 AVENUE BELLEFORIERE, MAISONS-LAFFITTE, MALAYSIA |
EH957413 |
05/05/2004 |
30/08/2013 |
|
DOMINIQUE GERARD NAMER |
14 ALLEE PIERRE CURIE, LA CELLE SAINT CLOUD,FRANCE, MALAYSIA |
99DP26862 |
20/11/2003 |
02/05/2004 |
|
CHIN CHIN LIP |
2,SARACA WALK, SINGAPORE 2280 |
0169534G |
12/03/1993 |
30/09/2000 |
|
CHEW TECK LIONG |
132, LORONG AH SOO, 06-404, SINGAPORE |
S0198016E |
13/10/2000 |
28/02/2001 |
|
CAROLINE AURORE ALBERT |
HUASHAN LU 688, ROYAL PAVILLION UNIT 1071, SHANGHAI, CHINA,
SHANGHAI, MALAYSIA |
02XE97925 |
01/07/2011 |
22/10/2012 |
|
CHAN POH KOK |
BLOK 10 CACTUS DRIVE, #07-01, GRANDE VISTA APT,SINGAPORE 2880 |
1246279D |
12/03/1993 |
18/06/1996 |
|
BENJAMIN OLIVIER PIERRE GHISLAIN JACQUOT |
73 RUE BOURSAULT, 75017, FRANCE, MALAYSIA |
07AI58365 |
01/07/2011 |
01/12/2012 |
|
PHILIPPE GEORGES MARIE CHARTRES |
A-6-1, KIARAVILLE, CHANGKAT DUTA KIARA, MONT KIARA, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
04EF59889 |
01/12/2012 |
27/05/2015 |
|
ISABELLE KATIA, MICHELINE CHAVIGNY AP LAFFONT |
44 RUE DU POURTOUR, MONTESSON FRANCE, MALAYSIA |
09AP81840 |
01/12/2012 |
21/05/2015 |
|
FOO SHIH-HUI |
31, WEST COAST PARK, #08-24, SINGAPORE 127649 |
E4572766N |
01/12/2012 |
26/02/2018 |
|
PHILIPPE VIPREY |
LOT 259, JALAN KAMPUNG TEBING, TEMBAH PAKA, TERENGGANU, MALAYSIA |
11CH39407 |
22/05/2015 |
01/10/2015 |
Note : The above information was generated from our database.
MANAGEMENT
|
1) |
Name of Subject |
: |
CHONG YOON HOCK |
|
Position |
: |
DIRECTOR |
|
|
AUDITOR |
|
Auditor |
: |
KPMG PLT |
|
Auditor' Address |
: |
LEVEL 10, KPMG TOWER, 8 FIRST AVENUE, BANDAR UTAMA, 47800
PETALING JAYA, SELANGOR, MALAYSIA. |
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
MS. LEONG SIEW FOONG |
|
IC / PP No |
: |
A0828311 |
|
|
New IC No |
: |
671205-10-5330 |
|
|
Address |
: |
3, JALAN BAYAM, TAMAN KOTA BESAR, 81900 KOTA TINGGI, JOHOR,
MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. ZARINA BINTI AHMAD |
|
IC / PP No |
: |
A1489140 |
|
|
New IC No |
: |
700117-08-5894 |
|
|
Address |
: |
04-12, BLOK 9, TAMAN KENANGA, TAMPOI, 81200 JOHOR BAHRU, JOHOR,
MALAYSIA. |
|
|
|
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 |
27/05/1994 |
DEBENTURE |
MALAYAN BANKING BERHAD |
MYR 21,000,000.00 |
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.
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 |
Percentage |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Import Countries |
: |
ASIA,EUROPE |
|||
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 |
: |
60% |
|
|
Domestic Markets |
: |
MALAYSIA |
||||
|
Overseas |
: |
YES |
Percentage |
: |
40% |
|
|
Export Market |
: |
THAILAND |
||||
|
Credit Term |
: |
30 - 60 DAYS |
||||
|
Payment Mode |
: |
CHEQUES |
||||
|
Type of Customer |
: |
COATING INDUSTRIES |
||||
OPERATIONS
|
|
|||||
|
Products manufactured |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA (CICM) |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
150 |
150 |
150 |
150 |
150 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
polyester resins and specialty chemical.
The Subject develops high-technology resins and additives for the coating
industries (paints, inks, varnishes) adhesives, polyester resins and gel-coats
for the composites industry.
Besides the paint chemicals, the Subject also produces other chemicals for the
boat building industries.
The Subject utilizes advanced automated and semi-automated machineries to
ensure production of high quality 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 |
: |
60-7-2536683., 65-96177989 |
|
Current Telephone Number |
: |
07-2536688 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
PLO 491, JALAN KELULI, PASIR GUDANG INDUSTRIAL ESTATE 81700
PASIR GUDON JOHOR |
|
Current Address |
: |
PLO 491, JALAN KELULI, PASIR GUDANG INDUSTRIAL ESTATE, 81700
PASIR GUDANG, JOHOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she
provided some information.
The contact number provided at 6596177989 is not answered.
The address is as per stated in the report.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
27.20% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
39.73% |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.The dip in profit could be due to the
stiff market competition which reduced the Subject's profit margin. The Subject's
management had generated acceptable return for its shareholders using its
assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
34 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
81 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
58 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The high debtors' ratio
could indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. 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 |
: |
Acceptable |
[ |
0.87 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.13 Times |
] |
|
|
The Subject's liquid ratio was slightly low. This could indicate
that the Subject's working capital was slightly deficient. The Subject will have
to improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
50.14 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 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 : |
||||||
|
The Subject recorded lower profits as its turnover showed a erratic
trend. The Subject's management was unable to control its costs efficiently
as its profit showed a downward trend. The Subject's liquidity was at an
acceptable range. If the Subject is able to obtain further short term
financing, it should be able to meet all 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 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 : 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 |
|
|
20299 : Manufacture of other chemical products n.e.c. |
|
|
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) |
|
ARKEMA COATING RESINS 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 |
244,342,000 |
220,704,000 |
239,156,000 |
225,592,000 |
188,374,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
244,342,000 |
220,704,000 |
239,156,000 |
225,592,000 |
188,374,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
18,476,000 |
23,456,000 |
13,005,000 |
10,693,000 |
8,959,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
18,476,000 |
23,456,000 |
13,005,000 |
10,693,000 |
8,959,000 |
|
Taxation |
(5,568,000) |
(6,677,000) |
(2,914,000) |
(3,328,000) |
(2,571,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
12,908,000 |
16,779,000 |
10,091,000 |
7,365,000 |
6,388,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
28,540,000 |
31,761,000 |
31,670,000 |
30,705,000 |
27,317,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
28,540,000 |
31,761,000 |
31,670,000 |
30,705,000 |
27,317,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
41,448,000 |
48,540,000 |
41,761,000 |
38,070,000 |
33,705,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(20,000,000) |
(20,000,000) |
(10,000,000) |
(6,400,000) |
(3,000,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
21,448,000 |
28,540,000 |
31,761,000 |
31,670,000 |
30,705,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Loan from holding company |
190,000 |
134,000 |
19,000 |
- |
- |
|
Term loan / Borrowing |
- |
1,000 |
73,000 |
- |
- |
|
Others |
186,000 |
144,000 |
155,000 |
266,000 |
218,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
376,000 |
279,000 |
247,000 |
266,000 |
218,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
5,311,000 |
5,077,000 |
5,216,000 |
5,188,000 |
3,927,000 |
|
AMORTIZATION |
507,000 |
509,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
5,818,000 |
5,586,000 |
5,216,000 |
5,188,000 |
3,927,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
32,924,000 |
33,327,000 |
34,637,000 |
40,460,000 |
42,250,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Others |
1,094,000 |
1,250,000 |
1,407,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,094,000 |
1,250,000 |
1,407,000 |
- |
- |
|
INTANGIBLE ASSETS |
|||||
|
Computer software |
861,000 |
1,212,000 |
- |
- |
- |
|
Others |
4,306,000 |
1,127,000 |
1,564,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
5,167,000 |
2,339,000 |
1,564,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
39,185,000 |
36,916,000 |
37,608,000 |
40,460,000 |
42,250,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
22,976,000 |
25,223,000 |
23,715,000 |
18,047,000 |
13,324,000 |
|
Trade debtors |
54,490,000 |
39,782,000 |
46,722,000 |
43,993,000 |
35,723,000 |
|
Other debtors, deposits & prepayments |
2,378,000 |
393,000 |
405,000 |
1,202,000 |
825,000 |
|
Amount due from related companies |
4,872,000 |
1,851,000 |
762,000 |
814,000 |
765,000 |
|
Cash & bank balances |
16,094,000 |
8,174,000 |
11,742,000 |
4,869,000 |
11,277,000 |
|
Others |
694,000 |
- |
914,000 |
297,000 |
1,413,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
101,504,000 |
75,423,000 |
84,260,000 |
69,222,000 |
63,327,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
140,689,000 |
112,339,000 |
121,868,000 |
109,682,000 |
105,577,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
39,138,000 |
30,236,000 |
33,519,000 |
30,787,000 |
30,843,000 |
|
Other creditors & accruals |
8,294,000 |
7,207,000 |
6,114,000 |
7,922,000 |
6,156,000 |
|
Short term borrowings/Term loans |
- |
- |
4,361,000 |
7,957,000 |
8,053,000 |
|
Amounts owing to related companies |
42,273,000 |
17,063,000 |
16,521,000 |
2,345,000 |
959,000 |
|
Provision for taxation |
- |
84,000 |
- |
- |
- |
|
Other liabilities |
107,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
89,812,000 |
54,590,000 |
60,515,000 |
49,011,000 |
46,011,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
11,692,000 |
20,833,000 |
23,745,000 |
20,211,000 |
17,316,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
3,429,000 |
3,209,000 |
3,592,000 |
3,001,000 |
2,861,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
3,429,000 |
3,209,000 |
3,592,000 |
3,001,000 |
2,861,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
47,448,000 |
54,540,000 |
57,761,000 |
57,670,000 |
56,705,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
26,000,000 |
26,000,000 |
26,000,000 |
26,000,000 |
26,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
26,000,000 |
26,000,000 |
26,000,000 |
26,000,000 |
26,000,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
21,448,000 |
28,540,000 |
31,761,000 |
31,670,000 |
30,705,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
21,448,000 |
28,540,000 |
31,761,000 |
31,670,000 |
30,705,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
47,448,000 |
54,540,000 |
57,761,000 |
57,670,000 |
56,705,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
ARKEMA COATING RESINS MALAYSIA SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
16,094,000 |
8,174,000 |
11,742,000 |
4,869,000 |
11,277,000 |
|
Net Liquid Funds |
16,094,000 |
8,174,000 |
11,742,000 |
4,869,000 |
11,277,000 |
|
Net Liquid Assets |
(11,284,000) |
(4,390,000) |
30,000 |
2,164,000 |
3,992,000 |
|
Net Current Assets/(Liabilities) |
11,692,000 |
20,833,000 |
23,745,000 |
20,211,000 |
17,316,000 |
|
Net Tangible Assets |
42,281,000 |
52,201,000 |
56,197,000 |
57,670,000 |
56,705,000 |
|
Net Monetary Assets |
(14,713,000) |
(7,599,000) |
(3,562,000) |
(837,000) |
1,131,000 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
18,852,000 |
23,735,000 |
13,252,000 |
10,959,000 |
9,177,000 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
24,670,000 |
29,321,000 |
18,468,000 |
16,147,000 |
13,104,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
4,361,000 |
7,957,000 |
8,053,000 |
|
Total Liabilities |
93,241,000 |
57,799,000 |
64,107,000 |
52,012,000 |
48,872,000 |
|
Total Assets |
140,689,000 |
112,339,000 |
121,868,000 |
109,682,000 |
105,577,000 |
|
Net Assets |
47,448,000 |
54,540,000 |
57,761,000 |
57,670,000 |
56,705,000 |
|
Net Assets Backing |
47,448,000 |
54,540,000 |
57,761,000 |
57,670,000 |
56,705,000 |
|
Shareholders' Funds |
47,448,000 |
54,540,000 |
57,761,000 |
57,670,000 |
56,705,000 |
|
Total Share Capital |
26,000,000 |
26,000,000 |
26,000,000 |
26,000,000 |
26,000,000 |
|
Total Reserves |
21,448,000 |
28,540,000 |
31,761,000 |
31,670,000 |
30,705,000 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
10.71 |
(7.72) |
6.01 |
19.76 |
12.36 |
|
Proft/(Loss) Before Tax |
(21.23) |
80.36 |
21.62 |
19.35 |
54.68 |
|
Proft/(Loss) After Tax |
(23.07) |
66.28 |
37.01 |
15.29 |
53.01 |
|
Total Assets |
25.24 |
(7.82) |
11.11 |
3.89 |
1.98 |
|
Total Liabilities |
61.32 |
(9.84) |
23.25 |
6.42 |
(2.67) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.18 |
0.15 |
0.19 |
0.10 |
0.25 |
|
Liquid Ratio |
0.87 |
0.92 |
1.00 |
1.04 |
1.09 |
|
Current Ratio |
1.13 |
1.38 |
1.39 |
1.41 |
1.38 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
34 |
42 |
36 |
29 |
26 |
|
Debtors Ratio |
81 |
66 |
71 |
71 |
69 |
|
Creditors Ratio |
58 |
50 |
51 |
50 |
60 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0.08 |
0.14 |
0.14 |
|
Liabilities Ratio |
1.97 |
1.06 |
1.11 |
0.90 |
0.86 |
|
Times Interest Earned Ratio |
50.14 |
85.07 |
53.65 |
41.20 |
42.10 |
|
Assets Backing Ratio |
1.63 |
2.01 |
2.16 |
2.22 |
2.18 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
7.56 |
10.63 |
5.44 |
4.74 |
4.76 |
|
Net Profit Margin |
5.28 |
7.60 |
4.22 |
3.26 |
3.39 |
|
Return On Net Assets |
39.73 |
43.52 |
22.94 |
19.00 |
16.18 |
|
Return On Capital Employed |
33.64 |
39.50 |
21.06 |
18.06 |
15.41 |
|
Return On Shareholders' Funds/Equity |
27.20 |
30.76 |
17.47 |
12.77 |
11.27 |
|
Dividend Pay Out Ratio (Times) |
1.55 |
1.19 |
0.99 |
0.87 |
0.47 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
|
MYR |
1 |
INR 16.93 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRU |
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.