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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

498514

Report Date :

20.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

DELL GLOBAL BUSINESS CENTER SDN. BHD.

 

 

Registered Office :

Suite 16-1 (Penthouse Upper), Menara Penang Garden, 42A, Jalan Sultan Ahmad Shah, 10050 Pulau Pinang, Pulau Pinang

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.01.2017

 

 

Date of Incorporation :

28.07.2006

 

 

Com. Reg. No.:

742481-H

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The Subject is engaged in the operating a global business support center to provide various outsourced services globally, manufacturing and sales of computer systems and computer related products.

 

 

No. of Employees :

Not Available

 

 

 

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

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Malaysia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

MALAYSIA - ECONOMIC OVERVIEW

 

Malaysia, an upper middle-income country, has transformed itself since the 1970s from a producer of raw materials into a multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move further up the value-added production chain by attracting investments in high technology, knowledge-based industries and services. NAJIB's Economic Transformation Program is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.

The NAJIB administration is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Domestic demand continues to anchor economic growth, supported mainly by private consumption, which accounts for 53% of GDP. Nevertheless, exports - particularly of electronics, oil and gas, and palm oil - remain a significant driver of the economy. In 2015, gross exports of goods and services were equivalent to 73% of GDP. The oil and gas sector supplied about 22% of government revenue in 2015, down significantly from prior years amid a decline in commodity prices and diversification of government revenues. Malaysia has embarked on a fiscal reform program aimed at achieving a balanced budget by 2020, including rationalization of subsidies and the 2015 introduction of a 6% value added tax. Sustained low commodity prices throughout the period not only strained government finances, but also shrunk Malaysia’s current account surplus and weighed heavily on the Malaysian ringgit, which was among the region’s worst performing currencies during 2013-17. The ringgit hit new lows following the US presidential election amid a broader selloff of emerging market assets.

Bank Negara Malaysia (the central bank) maintains adequate foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments, although it remains vulnerable to volatile global capital flows. In order to increase Malaysia’s competitiveness, Prime Minister NAJIB raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program, policies that favor and advance the economic condition of ethnic Malays.

Malaysia signed the 12-nation Trans-Pacific Partnership (TPP) free trade agreement in February 2016, although the future of the TPP remains unclear following the US withdrawal from the agreement. Along with nine other ASEAN members, Malaysia established the ASEAN Economic Community in 2015, which aims to advance regional economic integration.

 

Source : CIA

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

742481-H

GST NO.

:

000360472576

COMPANY NAME

:

DELL GLOBAL BUSINESS CENTER SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

28/07/2006

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

SUITE 16-1 (PENTHOUSE UPPER), MENARA PENANG GARDEN, 42A, JALAN SULTAN AHMAD SHAH, 10050 PULAU PINANG, PULAU PINANG, MALAYSIA.

BUSINESS ADDRESS

:

PLOT P27 BAYAN LEPAS INDUSTRIAL ZONE, PHASE IV, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA.

TEL.NO.

:

04-6334888

FAX.NO.

:

04-6337135

WEB SITE

:

WWW.DELL.COM.MY

CONTACT PERSON

:

PANG YEE BENG ( DIRECTOR )

INDUSTRY CODE

:

82 262

PRINCIPAL ACTIVITY

:

OPERATING A GLOBAL BUSINESS SUPPORT CENTER TO PROVIDE VARIOUS OUTSOURCED SERVICES GLOBALLY,MANUFACTURING AND SALES OF COMPUTER SYSTEMS AND COMPUTER RELATED PRODUCTS

AUTHORISED CAPITAL

:

MYR 500,000.00 DIVIDED INTO
ORDINARY SHARE 500,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 500,000.00 DIVIDED INTO
ORDINARY SHARES 500,000 CASH OF MYR 1.00 EACH.

SALES

:

MYR 6,395,635,000 [2017]

NET WORTH

:

MYR 423,854,000 [2017]

STAFF STRENGTH

:

N/A

BANKER (S)

:

CIMB BANK BHD
MALAYAN BANKING BHD

LITIGATION

:

TRACED

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

REGULAR

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE 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) operating a global business support center to provide various outsourced services globally,manufacturing and sales of computer systems and computer related products.

The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

The immediate holding company of the Subject is DELL GLOBAL B.V., a company incorporated in NETHERLANDS.

The ultimate holding company of the Subject is DELL TECHNOLOGIES INC., a company incorporated in UNITED STATES.

 

Former Address(es)

Address

As At Date

LEVEL 41-SUITE B, MENARA MAXIS, KUALA LUMPUR CITY CENTRE, 50088, WILAYAH PERSEKUTUAN, MALAYSIA

14/12/2008

LEVEL 21, SUITE 21.01, THE GARDENS SOUTH TOWER, MID VALLEY, LINGKARAN SYED PUTRA, 59200, WILAYAH PERSEKUTUAN, MALAYSIA

29/05/2014

PRIMA AVENUE,BLOCK 3512, JALAN TEKNOKRAT 6, 63000, SELANGOR, MALAYSIA

N/A

PLOT P27, BAYAN LEPAS INDUSTRIAL ZONE PHASE 4, 11900, PULAU PINANG, MALAYSIA

N/A

 

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

05/04/2007

MYR 500,000.00

MYR 500,000.00

07/08/2006

MYR 500,000.00

MYR 2.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

DELL GLOBAL B.V.

TRANSFORMATORWEG, 38-72, 1014, AK AMSTERDAM NETHERLANDS

33238739

500,000.00

100.00

---------------

------

500,000.00

100.00

============

=====

+ Also Director

 

 


Former Shareholder(s) :

Name

Country

IC/PP/Loc No

Shareholding

Last Updated

CHIA CHER HOCK

MALAYSIA

600915-10-5863

N/A

N/A

WONG WOON KEONG

MALAYSIA

540117-08-5587

N/A

N/A



DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

JANET MERRITT BAWCOM

Address

:

1314, SHANNON OAKS TRAIL, AUSTIN, TEXAS 78746, UNITED ARAB EMIRATES.

IC / PP No

:

564409896

Nationality

:

AMERICAN

Date of Appointment

:

30/04/2008



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

330298M

DELL ASIA PACIFIC SDN. BHD.

Director

30/04/2008

0.00

-

MYR(647.00)

2017

-

23/02/2018

2

742481H

DELL GLOBAL BUSINESS CENTER SDN. BHD.

Director

30/04/2008

0.00

-

MYR107,834,000.00

2017

-

23/02/2018

3

850617T

DELL SALES MALAYSIA SDN. BHD.

Director

29/04/2009

0.00

-

MYR128,799.00

2017

-

23/02/2018

4

425343D

EMC COMPUTER SYSTEMS (MALAYSIA) SDN. BHD.

Director

17/10/2016

0.00

-

MYR1,939,521.00

2016

-

23/02/2018

 

DIRECTOR 2

 

Name Of Subject

:

MR. PANG YEE BENG

Address

:

38, JALAN KERUING, BUKIT BANDARAYA, 59100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

A0411788

New IC No

:

660526-07-5351

Nationality

:

MALAYSIAN

Date of Appointment

:

30/04/2015



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

330298M

DELL ASIA PACIFIC SDN. BHD.

Director

30/04/2015

0.00

-

MYR(647.00)

2017

-

23/02/2018

2

742481H

DELL GLOBAL BUSINESS CENTER SDN. BHD.

Director

30/04/2015

0.00

-

MYR107,834,000.00

2017

-

23/02/2018

3

850617T

DELL SALES MALAYSIA SDN. BHD.

Director

30/04/2015

0.00

-

MYR128,799.00

2017

-

23/02/2018


FORMER INTEREST

No

Local No

Company

Designation

App Date

Withdrawn Date

Shareholding

Status

1

37216W

AMERICAN-MALAYSIAN CHAMBER OF COMMERCE

Director

11/05/2011

25/02/2013

-

-

2

922260K

PRESTARIANG BERHAD

Director

16/04/2014

08/08/2014

-

-

3

668332P

QUEST SOFTWARE TECHNOLOGY SYSTEMS SDN. BHD.

Director

30/04/2015

05/12/2016

-

-

 

DIRECTOR 3

 

Name Of Subject

:

WADE RUSSELL BAZE

Address

:

1415, AMBLING TRAIL, CEDAR PARK, TEXAS 78613, UNITED ARAB EMIRATES.

IC / PP No

:

546254363

Nationality

:

AMERICAN

Date of Appointment

:

15/12/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

742481H

DELL GLOBAL BUSINESS CENTER SDN. BHD.

Director

15/12/2017

0.00

-

MYR107,834,000.00

2017

-

23/02/2018



FORMER DIRECTOR(S)

 

Name

Address

IC/PP No

Appointed Date

Withdrawn Date

WONG WOON KEONG

6 CANGKAT MINDAN, JALAN 11, GELUGOR, PULAU PINANG, MALAYSIA

540117-08-5587

28/07/2006

30/03/2012

WILLIAM KENDALL WAVRO

9,ARDMORE PARK, #22-02,SINGAPORE 259955

135371335

28/05/2007

16/03/2010

TANG CHING SIANG

10 TINGKAT LAUT, TANJUNG BUNGAH, PULAU PINANG, MALAYSIA

611009-02-5507

29/03/2012

31/07/2013

THOMAS HAROLD WELCH JR

4500 MANTLE DRIVE TEXAS, 78746 AUSTIN, TEXAS, MALAYSIA

133978873

28/05/2007

30/04/2008

STEPHEN JOSEPH FELICE

9, ROCHALIE DRIVE,, SINGAPORE 248263

158285795

28/05/2007

16/03/2010

FOO SEANG CHOONG

61,CANGKAT SG ARA 3, DESA ARA,SUNGAI ARA, BAYAN LEPAS, PULAU PINANG, MALAYSIA

650226-07-5027

01/04/2008

17/03/2010

CHIA CHER HOCK

NO. 27, JALAN KUNING, TAMAN PELANGI, JOHOR BAHRU, JOHOR, MALAYSIA

600915-10-5863

28/07/2006

01/04/2008

CHAN SOON TAT

552-9-2 SKYHOME, JALAN TANJUNG BUNGAH, TANJUNG BUNGAH, PULAU PINANG, MALAYSIA

570220-07-5819

16/03/2010

30/04/2014

LAWRENCE WONG YOW KHAN

163B-031C PERSIARAN GURNEY, GEORGETOWN, PULAU PINANG, MALAYSIA

680423-10-5093

30/07/2013

15/12/2017

GOH THENG LAI

2 LINTANG SUNGAI ARA 1, SUNGAI ARA, BAYAN LEPAS, PULAU PINANG, MALAYSIA

560226-02-5493

20/08/2013

30/04/2015

 

Note : The above information was generated from our database.



MANAGEMENT

 

 

1)

Name of Subject

:

PANG YEE BENG

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

PRICEWATERHOUSECOOPERS

Auditor' Address

:

16TH FLOOR, BANGUNAN KWSP, JALAN SULTAN AHMAD SHAH, P.O.BOX 856, MALAYSIA.

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. ONG TZE-EN

IC / PP No

:

A2054637

New IC No

:

720313-07-5210

Address

:

VILLA BATU BUKIT, 7-2-1, JALAN BATU BUKIT, 10470 PULAU PINANG, PULAU PINANG, MALAYSIA.

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

CIMB BANK BHD

 

2)

Name

:

MALAYAN BANKING BHD

 

 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

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 CLOSED litigation case(s) on the Subject in our database as below:
- 1 case(s) filed in year 2016


CRIMINAL CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank against the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No criminal record was found in our databank.

 

CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A PLAINTIFF


* A check has been conducted in our databank against the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No plaintiff record was found in our databank.

 

CRIMINAL RECORDS CHECK - SUBJECT COMPANY AS A PLAINTIFF


* A check has been conducted in our databank against the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No plaintiff record was found in our databank.

 

DEFAULTER CHECK AGAINST SUBJECT


* We have checked through the Subject in our defaulters' database which comprised of debtors that have been listed by our customers and debtors that have been placed or assigned to us for collection.

No defaulter record & debt collection case was found in our defaulters' databank.

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES



The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

X

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

CLIENTELE

 

 

Local

:

YES

Percentage

:

40%

Domestic Markets

:

MALAYSIA

Overseas

:

YES

Percentage

:

60%

Export Market

:

ASIA

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Products manufactured

:

COMPUTER SYSTEMS AND COMPUTER RELATED PRODUCTS

Services

:

OPERATING A GLOBAL BUSINESS SUPPORT CENTER TO PROVIDE VARIOUS OUTSOURCED SERVICES GLOBALLY

Product Brand Name

:

DELL

Ownership of premises

:

LEASED/RENTED

 

Branch

:

YES

Branch(es)

:

2900, PERSIARAN APEC, 63000 CYBERJAYA, SELANGOR, MALAYSIA.

Tel No: 03-83101888

 

Other Information:


The Subject is principally engaged in the (as a / as an) operating a global business support center to provide various outsourced services globally,manufacturing and sales of computer systems and computer related products.

The Subject manufactures and customizes products and services to its customer requirements, and offers and extensive selection of software and peripherals.

The Subject provides Dell products such as computer, laptop, notebook, projector and so on.

The Subject's products portfolio including as follows:

* Hotdeals products - batteries, screen filters, micro savers, laser toners, photo inkjet printers, drive headsets, antivirus softwares etc.

* Imaging products - printers, scanners, cameras and laser printers.

* Networking products - ethernet connection.

The Subject's ethernet connection provides small and medium-sized business with the power to share information, connect remote locations andaccess the internet.

* Notebook Accessories - portable solution, cables.

* Other products - mouse, UPS, surge protector and universal adapter wireless and retractable mouse.

The Subject also provides various services related to its products such as installation, monitor, maintenance, commissioning,customization, system integration, implementation, configuration, upgrading, includes external quality inspection, connection to the network, setup, and connection of peripherals and verification of the factory-installed network operating system (NOS) functionality.

The Subject's Dell Professional Services (DPS) offers standard-based service solutions that help customers better utilize emerging technologies, enhance efficiencies and maximize the value of IT investments.

The Subject has support and service centres.


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

:

04-6334888

Match

:

N/A

Address Provided by Client

:

PLOT P27, BAYAN LEPAD INDUSTRIAL ZONE PHASE IV,11900 BAYAN LEPAS PENANG MALAYSIA

Current Address

:

PLOT P27 BAYAN LEPAS INDUSTRIAL ZONE, PHASE IV, 11900 BAYAN LEPAS, PULAU PINANG, MALAYSIA.

Match

:

NO

Latest Financial Accounts

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and he provided some information.

The address is as per stated in the report.

The Subject refused to disclose its number of employees.

FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Erratic

[

2013 - 2017

]

Profit/(Loss) Before Tax

:

Increased

[

2013 - 2017

]

Return on Shareholder Funds

:

Acceptable

[

25.44%

]

Return on Net Assets

:

Acceptable

[

25.66%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.The higher profit could be attributed to the increase in turnover. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Favourable

[

12 Days

]

Debtor Ratio

:

Favourable

[

6 Days

]

Creditors Ratio

:

Favourable

[

59 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.11 Times

]

Current Ratio

:

Unfavourable

[

1.27 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

:

Nil

[

0.00 Times

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

Although the turnover was erratic, the Subject had maintained a steady growth in its profit. This indicate the management's efficiency in controlling its costs and profitability. 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. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. 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

 

82 : OFFICE ADMINISTRATIVE, OFFICE SUPPORT AND OTHER BUSINESS SUPPORT ACTIVITIES

262 : Manufacture of computers and peripheral equipment

INDUSTRY :

BUSINESS SERVICES

The services sector is projected to grow by 5.4% in 2016 (2015: 5.7%), increasing its share to 54% of GDP (2015: 53.8%) with all subsectors continuing to expand. The services sector continues playing an important role in driving the Malaysia economy.

The services sector is projected to grow 5.8% in year 2018, increasing its share to 54.8% of GDP (2017: 5.9%; 54.5%) with all subsectors continuing to expand. The services sector recorded an increase of 6.1% during the first half of 2017 (January – June 2016: 5.4%) driven by improvement in wholesale and retail trade; food & beverages and accommodation; information and communication; and finance and insurance subsectors.

Value added of services sector increased further by 6.1% during the first half of 2017 (January –

June 2016: 5.4%) mainly driven by strong domestic consumption activities. In 2017, the sector is expected to record 5.9% growth, accounting for 54.5% of GDP (2016: 5.6%; 54.3%). The final services group is projected to sustain at 6% (2016: 6%) led by the wholesale and retail trade as well as the food & beverages and accommodation subsectors. The intermediate services group is anticipated to grow 6.4% (2016: 5.5%) supported by the information and communication as well as finance and insurance subsectors. Meanwhile, government services subsector is expected to increase 4.4% (2016: 4.9%).

The wholesale and retail trade subsector recorded a stronger growth of 7% (January – June 2016: 5.9%) supported by higher consumer spending. The retail segment increased 9.6% (January – June 2016: 6.3%) driven by sales in non-specialised stores and other goods in specialised stores which recorded double-digit growth of 12.5% and 13.3%, respectively (January – June 2016: 8.3%; 8.4%). The wholesale segment grew 5.8% (January – June 2016: 8.4%) led by other specialised wholesale (9.7%), household goods (5.2%) as well as food, beverages and tobacco which rose 9.2% (January – June 2016: 3.4%; 6.6%; 8.1%). Meanwhile, the motor vehicle segment rebounded 2.2% (January – June 2016: -3.9%) following the introduction of new car models and rebates on a wide range of earlier models. This was reflected in sales of motor vehicles which turned around 2.2% to RM39.6 billion, while parts and accessories increased 5.4% to RM16.9 billion (January – June 2016: -7.1%; RM38.8 billion; 2.2%; RM16 billion). In 2017, the subsector is expected to expand further by 6.5%(2016: 6.2%).

The food & beverages and accommodation subsector increased 7.2% (January – June 2016: 6.6%). The food & beverages segment expanded 7.9% (January – June 2016: 7.4%) driven by increased spending on dining at restaurants. Meanwhile, the accommodation segment grew 4.8% (January – June 2016: 4%) mainly supported by domestic tourism activities, opening of new budget hotels and aggressive online promotions. Tourist arrivals contracted 1.5% during the first eight months of 2017 (January – August 2016: 3.8%). Nevertheless, the introduction of new direct flights to the country as well as the hosting of the ASEAN Para Games, Formula 1 Petronas Malaysia Grand Prix and Shell Malaysia Motorcycle Grand Prix are expected to support growth of the segment. For the year, the subsector is projected to grow 7.6% (2016: 7.1%).

The information and communication subsector recorded a strong growth of 8.3% (January – June 2016: 8.6%). The communication segment remained as the major contributor to growth, sustaining its pace at 9.3% (January – June 2016: 9.8%) following aggressive promotional activities by telecommunication companies and introduction of new telephone models. Meanwhile, information segment grew 5.7% (January – June 2016: 3.6%) and computer services rose 6.4% (January – June 2016: 7%). The subsector is expected to sustain its strong growth momentum expanding 8.5% in 2017 (2016: 8.1%) supported by the launching of latest smartphone models, price reductions on earlier premium models and an increase in subscriptions to value added services offered by telecommunication companies.

The finance and insurance subsector expanded further by 4.3% (January – June 2016: 0.8%) led by financing activities. The finance segment increased strongly by 4.8% on account of higher growth in FISIM;1 and interest and fee-based incomes (January – June 2016: 0.02%). The insurance segment grew at a slower pace of 2.8% (January – June 2016: 3.4%) following moderate premium income. In 2017, the subsector is expected to grow 4.2% (2016: 2.5%).

The real estate and business services subsector increased 7.3% (January – June 2016: 6.7%). The business services segment recorded a growth of 8.4% (January – June 2016: 7.7%). Growth was driven by sustained demand for professional services, particularly engineering services in the construction sector, and legal and accounting services. Meanwhile, the real estate segment expanded 4.9% (January – June 2016: 4.6%). Growth was partly due to strong performance in the construction sector, incentives and rebates offered by developers, increase in civil servants’ housing loan eligibility and flexibility in purchasing homes under 1Malaysia Civil Servants Housing (PPA1M) scheme. For the whole year, the subsector is anticipated to increase 7.2% (2016: 6.9%).

The utilities subsector increased at a slower pace of 2.2% (January – June 2016: 6.1%) due to lower demand from households following the waning effect of El Niño. The electricity and gas segment moderated 1.2% (January – June 2016: 5.8%).

The other services subsector increased 5.3% (January – June 2016: 4.6%) with private education and health expanding 6.5% and 5.4%, respectively (January – June 2016: 6.7%; 5.6%). As at end-July 2017, there were 495 private higher education institutions nationwide (end-July 2016: 496), comprising 10 foreign university branch campuses, 53 private universities and 35 university colleges as well as 397 private colleges. Meanwhile, the number of healthcare travellers in private hospitals recorded 494,326 (January – June 2016: 460,338) with patients from Indonesia constituting 55.5% or 274,244 of total healthcare travellers. For the year, the subsector is expected to expand 5.3% (2016: 4.8%) supported by strong demand for private education as well as high-quality and affordable healthcare services. Meanwhile, the government services subsector grew 4.8% (January – June 2016: 5.2%) supported by expenditure in emoluments. In 2017, the subsector is projected to increase 4.4% (2016: 4.9%).

The services sector remained the primary driver of the economy and leading generator of job opportunities, accounting for 54.3% of GDP, 17.6% of the country’s total exports of goods and services and provided 8.8 million employment.

To sustain the role of the services sector as the key driver of growth, the Government will accelerate the implementation of the Services Sector Blueprint, and the Logistics and Trade Facilitation Masterplan. Within the services sector, the Government’s emphasis is on the development of tourism, including medical tourism, logistics and venture capital industries.

OVERALL INDUSTRY OUTLOOK : Average Growth



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2006, the Subject is a Private Limited company, focusing on operating a global business support center to provide various outsourced services globally,manufacturing and sales of computer systems and computer related products. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Presently, the issued and paid up capital of the Subject stands at MYR 500,000. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise.

Over the years, the Subject has established an extensive clientele base in the market. Besides catering to the local market, the Subject has penetrated into other countries. With the contribution of both local and overseas customers, the Subject is likely to be exposed to lower commercial risk. Hence, we believe that the Subject has better business expansion opportunities in the future. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

 
Despite the lower turnover, the Subject's pre-tax profit have increased compared to the previous year. The higher profit could be due to better control of its operating costs and efficiency in utilising its resources. Based on the higher profitability, the Subject has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at MYR 423,854,000, the Subject should be able to maintain its business in the near terms.

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

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


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

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



PROFIT AND LOSS ACCOUNT

 

 

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

DELL GLOBAL BUSINESS CENTER SDN. BHD.

 

Financial Year End

2017-01-31

2016-01-31

2015-01-31

2014-01-31

2013-01-31

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

6,395,635,000

7,005,283,000

540,851,000

604,398,321

549,816,058

----------------

----------------

----------------

----------------

----------------

Total Turnover

6,395,635,000

7,005,283,000

540,851,000

604,398,321

549,816,058

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

108,764,000

51,399,000

36,808,000

35,022,122

28,711,696

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

108,764,000

51,399,000

36,808,000

35,022,122

28,711,696

Taxation

(930,000)

(1,368,000)

(60,000)

(79,371)

(103,499)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

107,834,000

50,031,000

36,748,000

34,942,751

28,608,197

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

249,623,000

201,774,000

165,026,560

130,083,809

101,475,612

Prior year adjustment

-

(2,182,000)

(560)

-

-

----------------

----------------

----------------

----------------

----------------

As restated

249,623,000

199,592,000

165,026,000

130,083,809

101,475,612

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

357,457,000

249,623,000

201,774,000

165,026,560

130,083,809

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

357,457,000

249,623,000

201,774,000

165,026,560

130,083,809

=============

=============

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Others

-

-

-

466,265

714,876

----------------

----------------

----------------

----------------

----------------

-

-

-

466,265

714,876

=============

=============

=============

=============

=============

DEPRECIATION (as per notes to P&L)

2,206,000

45,000

17,535,000

21,963,896

29,310,405

AMORTIZATION

662,000

751,000

-

-

-

----------------

----------------

----------------

----------------

----------------

Total Amortization And Depreciation

2,868,000

796,000

17,535,000

21,963,896

29,310,405

=============

=============

=============

=============

=============

 

 

 

 

 

 

 

 

BALANCE SHEET

 

 

DELL GLOBAL BUSINESS CENTER SDN. BHD.

 

ASSETS EMPLOYED:

FIXED ASSETS

107,357,000

99,307,000

41,095,000

37,987,299

45,755,004

LONG TERM INVESTMENTS/OTHER ASSETS

Others

33,241,000

32,190,000

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

33,241,000

32,190,000

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

140,598,000

131,497,000

41,095,000

37,987,299

45,755,004

CURRENT ASSETS

Stocks

202,593,000

275,943,000

-

-

-

Trade debtors

102,070,000

112,152,000

506,000

591,332

181,657

Other debtors, deposits & prepayments

14,367,000

16,874,000

26,288,000

57,841,155

46,195,592

Amount due from holding company

779,758,000

627,639,000

100,972,000

122,604,018

76,752,643

Amount due from related companies

19,914,000

38,097,000

21,197,000

17,266,808

18,109,679

Cash & bank balances

497,052,000

451,889,000

96,122,000

45,679,988

125,482,274

Others

-

-

-

3,936

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

1,615,754,000

1,522,594,000

245,085,000

243,987,237

266,721,845

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

1,756,352,000

1,654,091,000

286,180,000

281,974,536

312,476,849

=============

=============

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

1,032,456,000

1,058,713,000

-

-

-

Other creditors & accruals

149,110,000

132,427,000

73,788,000

88,645,067

58,720,068

Amounts owing to holding company

3,079,000

3,640,000

2,020,000

7,999,327

75,062,653

Amounts owing to related companies

6,418,000

29,302,000

8,089,000

19,803,582

1,855,320

Provision for taxation

93,000

339,000

9,000

-

5,499

Other liabilities

85,681,000

70,379,000

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

1,276,837,000

1,294,800,000

83,906,000

116,447,976

135,643,540

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

338,917,000

227,794,000

161,179,000

127,539,261

131,078,305

----------------

----------------

----------------

----------------

----------------

LONG TERM LIABILITIES

Others

55,661,000

74,897,000

-

-

46,249,500

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

55,661,000

74,897,000

-

-

46,249,500

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

423,854,000

284,394,000

202,274,000

165,526,560

130,583,809

=============

=============

=============

=============

=============

FINANCED BY:

SHARE CAPITAL

Ordinary share capital

500,000

500,000

500,000

500,000

500,000

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

500,000

500,000

500,000

500,000

500,000

RESERVES

Capital reserve

65,897,000

34,271,000

-

-

-

Retained profit/(loss) carried forward

357,457,000

249,623,000

201,774,000

165,026,560

130,083,809

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

423,354,000

283,894,000

201,774,000

165,026,560

130,083,809

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

423,854,000

284,394,000

202,274,000

165,526,560

130,583,809

=============

=============

=============

=============

=============

 

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

DELL GLOBAL BUSINESS CENTER SDN. BHD.

 

TYPES OF FUNDS

Cash

497,052,000

451,889,000

96,122,000

45,679,988

125,482,274

Net Liquid Funds

497,052,000

451,889,000

96,122,000

45,679,988

125,482,274

Net Liquid Assets

136,324,000

(48,149,000)

161,179,000

127,539,261

131,078,305

Net Current Assets/(Liabilities)

338,917,000

227,794,000

161,179,000

127,539,261

131,078,305

Net Tangible Assets

423,854,000

284,394,000

202,274,000

165,526,560

130,583,809

Net Monetary Assets

80,663,000

(123,046,000)

161,179,000

127,539,261

84,828,805

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

108,764,000

51,399,000

36,808,000

35,488,387

29,426,572

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

111,632,000

52,195,000

54,343,000

57,452,283

58,736,977

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

0

0

Total Liabilities

1,332,498,000

1,369,697,000

83,906,000

116,447,976

181,893,040

Total Assets

1,756,352,000

1,654,091,000

286,180,000

281,974,536

312,476,849

Net Assets

423,854,000

284,394,000

202,274,000

165,526,560

130,583,809

Net Assets Backing

423,854,000

284,394,000

202,274,000

165,526,560

130,583,809

Shareholders' Funds

423,854,000

284,394,000

202,274,000

165,526,560

130,583,809

Total Share Capital

500,000

500,000

500,000

500,000

500,000

Total Reserves

423,354,000

283,894,000

201,774,000

165,026,560

130,083,809

GROWTH RATIOS (Year on Year) (%)

Revenue

(8.70)

1,195.23

(10.51)

9.93

(9.44)

Proft/(Loss) Before Tax

111.61

39.64

5.10

21.98

(7.07)

Proft/(Loss) After Tax

115.53

36.15

5.17

22.14

(7.07)

Total Assets

6.18

477.99

1.49

(9.76)

5.74

Total Liabilities

(2.72)

1,532.42

(27.95)

(35.98)

(6.02)

LIQUIDITY (Times)

Cash Ratio

0.39

0.35

1.15

0.39

0.93

Liquid Ratio

1.11

0.96

2.92

2.10

1.97

Current Ratio

1.27

1.18

2.92

2.10

1.97

WORKING CAPITAL CONTROL (Days)

Stock Ratio

12

14

0

0

0

Debtors Ratio

6

6

0

0

0

Creditors Ratio

59

55

0

0

0

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

0

0

0

Liabilities Ratio

3.14

4.82

0.41

0.70

1.39

Times Interest Earned Ratio

0

0

0

76.11

41.16

Assets Backing Ratio

847.71

568.79

404.55

331.05

261.17

PERFORMANCE RATIO (%)

Operating Profit Margin

1.70

0.73

6.81

5.79

5.22

Net Profit Margin

1.69

0.71

6.79

5.78

5.20

Return On Net Assets

25.66

18.07

18.20

21.44

22.53

Return On Capital Employed

22.68

14.31

18.20

21.44

16.64

Return On Shareholders' Funds/Equity

25.44

17.59

18.17

21.11

21.91

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 65.78

UK Pound

1

INR 93.42

Euro

1

INR 81.39

MYR

1

INR 16.94

                                                                  

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

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)

 

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

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