|
|
|
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MIRA INFORM REPORT
|
Report No. : |
505828 |
|
Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
QIN LONG (M) SDN.
BHD. |
|
|
|
|
Registered Office : |
19-2A, Second Floor, Jalan Molek 1/9, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
14.01.1992 |
|
|
|
|
Com. Reg. No.: |
232416-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of provision goods, food products. |
|
|
|
|
No. of Employees : |
15 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
|
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 |
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.
Bank Negara
|
Source
: CIA |
EXECUTIVE SUMMARY
|
|
REGISTRATION NO. |
: |
232416-D |
||||
|
GST NO. |
: |
001108557824 |
||||
|
COMPANY NAME |
: |
QIN LONG (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
14/01/1992 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
19-2A, SECOND FLOOR, JALAN MOLEK 1/9, TAMAN
MOLEK, 81100 JOHOR BAHRU, |
||||
|
BUSINESS ADDRESS |
: |
2 JALAN PERSIARAN DATO' CHELLAM, TAMAN
DATO' CHELLAM, 81800 ULU TIRAM, |
||||
|
TEL.NO. |
: |
07-8618801 |
||||
|
FAX.NO. |
: |
07-8618896 |
||||
|
CONTACT PERSON |
: |
HOW CHE KIM ( MANAGING DIRECTOR ) |
||||
|
|
|
|
||||
|
INDUSTRY CODE |
: |
46329 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PROVISION GOODS, FOOD PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
|
|
|
||||
|
SALES |
: |
MYR 44,818,013 [2016] |
||||
|
NET WORTH |
: |
MYR 14,877,273 [2016] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
15 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
|
|
|
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as
a / as an) trading of provision goods, food products.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At Date |
|
48-B, JALAN SUTERA TIGA, TAMAN SENTOSA,
80150, JOHOR, MALAYSIA |
07/03/1996 |
|
12, JALAN SEROJA 42, TAMAN JOHOR JAYA,
81100, JOHOR, MALAYSIA |
15/02/2013 |
|
47-01, JALAN ROS MERAH 2/1, TAMAN JOHOR
JAYA, 81100, JOHOR, MALAYSIA |
26/06/2013 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
14/07/2010 |
MYR 500,000.00 |
MYR 500,000.00 |
|
20/08/1993 |
MYR 100,000.00 |
MYR 100,000.00 |
|
30/01/1992 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. HOW CHE KIM + |
14 JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
5224228 |
499,999.00 |
100.00 |
|
MS. TAI SIN MOI + |
14, JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
611006-04-5078 6254093 |
1.00 |
0.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. HOW KUOK LEONG |
|
Address |
: |
14, JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
840825-01-5453 |
|
Date of Birth |
: |
25/08/1984 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/12/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
232416D |
QIN LONG (M) SDN. BHD. |
Director |
10/12/2008 |
0.00 |
- |
MYR1,369,257.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. HOW HWEI LING |
|
Address |
: |
12, JALAN EJ 6/6, TAMAN EHSAN JAYA, 81100
JOHOR BAHRU, JOHOR, MALAYSIA. |
|
Other Address(es) |
: |
14, JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
821111-01-5474 |
|
Date of Birth |
: |
11/11/1982 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
25/07/2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
232416D |
QIN LONG (M) SDN. BHD. |
Director |
25/07/2001 |
0.00 |
- |
MYR1,369,257.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. HOW KUOK CHEAN |
|
Address |
: |
14, JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
900729-01-5199 |
|
Date of Birth |
: |
29/07/1990 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/07/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
232416D |
QIN LONG (M) SDN. BHD. |
Director |
15/07/2014 |
0.00 |
- |
MYR1,369,257.00 |
2016 |
- |
26/03/2018 |
|
2 |
1259982D |
TAI CROISSANT SDN. BHD. |
Shareholder |
- |
21.00 |
21.00 |
- |
- |
- |
26/03/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. TAI SIN MOI |
|
Address |
: |
14, JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
6254093 |
|
New IC No |
: |
611006-04-5078 |
|
Date of Birth |
: |
06/10/1961 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
14/01/1992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
232416D |
QIN LONG (M) SDN. BHD. |
Director |
14/01/1992 |
1.00 |
0.0002 |
MYR1,369,257.00 |
2016 |
- |
26/03/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
MR. HOW CHE KIM |
|
Address |
: |
14 JALAN ROS MERAH 4/10, TAMAN JOHOR JAYA,
81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
5224228 |
|
New IC No |
: |
570424-04-5769 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
14/01/1992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
232416D |
QIN LONG (M) SDN. BHD. |
Director |
14/01/1992 |
499,999.00 |
100.00 |
MYR1,369,257.00 |
2016 |
- |
26/03/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
HOW CHE KIM |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
J C HIN ASSOCIATES |
|
Auditor' Address |
: |
19-02, TINGKAT 2, JALAN MOLEK 1/9, TAMAN
MOLEK, 81100 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. TAN SONG HWA |
|
|
IC / PP No |
: |
A2381623 |
|
|
New IC No |
: |
730123-01-6008 |
|
|
Address |
: |
43, JALAN BATU UNJUR 5, TAMAN BAYU PERDANA,
41200 KLANG, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
ALLIANCE BANK MALAYSIA BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
SOUTHERN BANK BERHAD |
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
20/04/1994 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 600,000.00 |
Satisfied |
|
2 |
04/09/1995 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 400,000.00 |
Satisfied |
|
3 |
09/03/1996 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 150,000.00 |
Satisfied |
|
4 |
09/03/1996 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 250,000.00 |
Satisfied |
|
5 |
26/12/1996 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 200,000.00 |
Satisfied |
|
6 |
26/12/1996 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 100,000.00 |
Satisfied |
|
7 |
29/11/1997 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
MYR 830,000.00 |
Satisfied |
|
8 |
19/08/2005 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
- |
Satisfied |
|
9 |
19/08/2005 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
- |
Satisfied |
|
10 |
19/08/2005 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
- |
Satisfied |
|
11 |
13/04/2007 |
N/A |
ALLIANCE BANK MALAYSIA BERHAD |
- |
Satisfied |
|
12 |
12/07/2007 |
LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
13 |
04/09/2008 |
FIRST LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
14 |
02/02/2010 |
FIRST LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
CRIMINAL CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No criminal record was found in our databank.
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the Subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No plaintiff record was found in our databank.
CRIMINAL RECORDS CHECK - SUBJECT COMPANY AS A
PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been listed by our customers and debtors that
have been placed or assigned to us for collection.
No defaulter record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
|
|
|
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CASH |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
|
Goods Traded |
: |
PROVISION GOODS, FOOD PRODUCTS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
15 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of provision
goods, food products.
The Subject sells onions, garlic and other provision products.
The Subject refused to disclose further information on its operation.
RECENT DEVELOPMENT
|
We have checked with the Malaysian National News Agency's (BERNAMA) database,
but no recent development was noted during the time of inspection.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-8618801 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
2 JALAN PERSIARAN DATO CHELLAM TAMAN DATO
CHELLAM 81800 ULU TIRAM JOHOR |
|
Current Address |
: |
2 JALAN PERSIARAN DATO' CHELLAM, TAMAN
DATO' CHELLAM, 81800 ULU TIRAM, JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
|
|
|
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted the staff of the Subject and she provided some information.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
9.20% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
12.80% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.The dip in profit could be due to the stiff market
competition which reduced the Subject's profit margin. The unfavourable
return on shareholders' funds could indicate that the Subject was inefficient
in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Acceptable |
[ |
58 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
49 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
49 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject kept adequate stocks to meet
its normal business transactions without incurring excessive storage costs.
The favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Acceptable |
[ |
0.98 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.11 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 |
[ |
65.30 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.03 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject
was able to service the interest. The favourable interest cover could
indicate that the Subject was making enough profit to pay for the interest accrued.
The Subject was lowly geared thus it had a low financial risk. The Subject
was mainly financed by its shareholders' funds and internally generated
funds. In times of economic slowdown / downturn, the Subject being a lowly
geared company, will be able to compete better than those companies which are
highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the Subject's turnover had increased,
its profits had declined over the same corresponding period. This could be
due to the stiffer market competition and / or higher operating costs which
lowered the Subject's profit margin. 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 as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject
: FAIR |
||||||
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 |
|
|
46329 : Wholesale of other foodstuffs |
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
Malaysia's retail sales will likely grow
3.7% in 2017, slower than previously estimated 3.9%, as consumer sentiment
remains weak amid rising cost of living in Southeast Asia's third largest
economy. |
|
|
|
|
|
The cut in forecast was the second of such
revision by Retail Group Malaysia, a retail consulting firm, from an initial
target of 5% retail sales expansion pace in 2017. The estimate follows a
survey of members of Malaysia Retailers Association on their second quarter
performance and outlook for the year. Retail sales grew 1.7% in 2016. |
|
|
|
|
|
According to Retail Group Malaysia (RGM),
Malaysian retailers have seen the sales expanded 4.9 % from April to June
2017, reversing a dismal performance in first three months 2017. For the
first six months 2016, the retail sale growth rate was 2.5 %. However, the
businesses in the next three months are not optimistic, estimating an average
growth rate of 2.9 %. The department stores cum supermarket operators are
expecting to return to red with a contraction of 2.5 %. Similarly, the
department store operators expect their businesses to dip with a negative 1.5
%. |
|
|
|
|
|
The rise of purchasing power will continue
to fall behind the increase in prices of retail goods. More retail goods are
expected to raise prices because of higher fuel prices in recent months. |
|
|
The wholesale trade sub-sector index
increased 5.9 % to 165.9 points year-on-year (y-o-y) driven mainly by other
specialised wholesale (7.5 %), wholesale of agricultural raw materials and livestock
(7.3 %) and wholesale of machinery, equipment and supplies (6.2 %). |
|
|
|
|
|
Over 60% of Gross Domestic Product (GDP) is
contributed by domestic consumption. Therefore the wholesale and retail
sector plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
QIN LONG (M) 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 |
44,818,013 |
43,177,477 |
41,606,627 |
41,657,496 |
38,010,460 |
|
Other Income |
195,676 |
326,189 |
269,453 |
196,650 |
116,992 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
45,013,689 |
43,503,666 |
41,876,080 |
41,854,146 |
38,127,452 |
|
Costs of Goods Sold |
(39,193,948) |
(37,353,292) |
(36,530,509) |
(36,675,326) |
(33,645,505) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
5,819,741 |
6,150,374 |
5,345,571 |
5,178,820 |
4,481,947 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,875,076 |
2,389,509 |
1,701,480 |
1,458,643 |
800,795 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
1,875,076 |
2,389,509 |
1,701,480 |
1,458,643 |
800,795 |
|
Taxation |
(505,819) |
(622,454) |
(465,201) |
(402,464) |
(245,120) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
1,369,257 |
1,767,055 |
1,236,279 |
1,056,179 |
555,675 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
|
As previously reported |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
8,892,828 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
8,892,828 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
14,877,273 |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(500,000) |
- |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
14,377,273 |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
|
|
Bank overdraft |
6,583 |
9,940 |
8,147 |
4,956 |
17,134 |
|
Bankers' acceptance |
22,431 |
18,109 |
23,064 |
21,171 |
28,650 |
|
Hire purchase |
- |
947 |
1,580 |
3,142 |
8,217 |
|
Term loan / Borrowing |
147 |
25,819 |
46,349 |
84,597 |
99,802 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
29,161 |
54,815 |
79,140 |
113,866 |
153,803 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
DEPRECIATION (as per notes to P&L) |
656,980 |
623,156 |
577,311 |
561,974 |
577,453 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Amortization And Depreciation |
656,980 |
623,156 |
577,311 |
561,974 |
577,453 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
BALANCE SHEET
|
|
QIN LONG (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
|
|
|
|
FIXED ASSETS |
6,730,108 |
7,347,451 |
8,593,227 |
8,743,795 |
9,298,612 |
|
|
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
|
|
Investment properties |
1,278,478 |
1,292,878 |
- |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,278,478 |
1,292,878 |
- |
- |
- |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
8,008,586 |
8,640,329 |
8,593,227 |
8,743,795 |
9,298,612 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
Stocks |
7,148,661 |
6,426,286 |
6,070,717 |
5,621,118 |
4,602,408 |
|
Trade debtors |
5,959,720 |
5,018,698 |
4,637,831 |
4,940,868 |
4,315,713 |
|
Other debtors, deposits & prepayments |
196,944 |
210,823 |
69,945 |
84,945 |
60,345 |
|
Cash & bank balances |
77,172 |
64,138 |
65,057 |
126,448 |
14,135 |
|
Others |
- |
- |
- |
- |
162,052 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
13,382,497 |
11,719,945 |
10,843,550 |
10,773,379 |
9,154,653 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
21,391,083 |
20,360,274 |
19,436,777 |
19,517,174 |
18,453,265 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Trade creditors |
5,292,343 |
4,729,205 |
4,731,447 |
4,444,912 |
3,618,563 |
|
Other creditors & accruals |
371,070 |
356,124 |
346,916 |
513,155 |
457,808 |
|
Hire purchase & lease creditors |
- |
- |
15,295 |
16,180 |
35,068 |
|
Bank overdraft |
513,532 |
297,617 |
33,038 |
- |
235,622 |
|
Short term borrowings/Term loans |
- |
35,873 |
108,738 |
152,284 |
120,241 |
|
Bill & acceptances payable |
- |
300,000 |
600,000 |
600,000 |
597,000 |
|
Amounts owing to director |
106,782 |
194,853 |
463,944 |
1,277,905 |
1,390,213 |
|
Provision for taxation |
- |
- |
- |
135,760 |
- |
|
Other liabilities |
68,537 |
221,822 |
76,148 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
6,352,264 |
6,135,494 |
6,375,526 |
7,140,196 |
6,454,515 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
7,030,233 |
5,584,451 |
4,468,024 |
3,633,183 |
2,700,138 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
|
|
Long term loans |
- |
- |
564,158 |
1,076,590 |
1,685,065 |
|
Hire purchase creditors |
- |
- |
- |
15,295 |
31,475 |
|
Deferred taxation |
161,546 |
216,764 |
256,132 |
280,411 |
333,707 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
161,546 |
216,764 |
820,290 |
1,372,296 |
2,050,247 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
14,877,273 |
14,008,016 |
12,240,961 |
11,004,682 |
9,948,503 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
14,377,273 |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
14,377,273 |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
|
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
14,877,273 |
14,008,016 |
12,240,961 |
11,004,682 |
9,948,503 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
QIN LONG (M) SDN. BHD. |
|
TYPES OF FUNDS |
|
|
|
|
|
|
Cash |
77,172 |
64,138 |
65,057 |
126,448 |
14,135 |
|
Net Liquid Funds |
(436,360) |
(533,479) |
(567,981) |
(473,552) |
(818,487) |
|
Net Liquid Assets |
(118,428) |
(841,835) |
(1,602,693) |
(1,987,935) |
(1,902,270) |
|
Net Current Assets/(Liabilities) |
7,030,233 |
5,584,451 |
4,468,024 |
3,633,183 |
2,700,138 |
|
Net Tangible Assets |
14,877,273 |
14,008,016 |
12,240,961 |
11,004,682 |
9,948,503 |
|
Net Monetary Assets |
(279,974) |
(1,058,599) |
(2,422,983) |
(3,360,231) |
(3,952,517) |
|
PROFIT & LOSS ITEMS |
|
|
|
|
|
|
Earnings Before Interest & Tax (EBIT) |
1,904,237 |
2,444,324 |
1,780,620 |
1,572,509 |
954,598 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
2,561,217 |
3,067,480 |
2,357,931 |
2,134,483 |
1,532,051 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
|
Total Borrowings |
513,532 |
633,490 |
1,321,229 |
1,860,349 |
2,704,471 |
|
Total Liabilities |
6,513,810 |
6,352,258 |
7,195,816 |
8,512,492 |
8,504,762 |
|
Total Assets |
21,391,083 |
20,360,274 |
19,436,777 |
19,517,174 |
18,453,265 |
|
Net Assets |
14,877,273 |
14,008,016 |
12,240,961 |
11,004,682 |
9,948,503 |
|
Net Assets Backing |
14,877,273 |
14,008,016 |
12,240,961 |
11,004,682 |
9,948,503 |
|
Shareholders' Funds |
14,877,273 |
14,008,016 |
12,240,961 |
11,004,682 |
9,948,503 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
14,377,273 |
13,508,016 |
11,740,961 |
10,504,682 |
9,448,503 |
|
GROWTH RATIOS (Year on Year) (%) |
|
|
|
|
|
|
Revenue |
3.80 |
3.78 |
(0.12) |
9.59 |
0.43 |
|
Proft/(Loss) Before Tax |
(21.53) |
40.44 |
16.65 |
82.15 |
(55.81) |
|
Proft/(Loss) After Tax |
(22.51) |
42.93 |
17.05 |
90.07 |
(59.43) |
|
Total Assets |
5.06 |
4.75 |
(0.41) |
5.77 |
(1.65) |
|
Total Liabilities |
2.54 |
(11.72) |
(15.47) |
0.09 |
(9.24) |
|
LIQUIDITY (Times) |
|
|
|
|
|
|
Cash Ratio |
0.01 |
0.01 |
0.01 |
0.02 |
0 |
|
Liquid Ratio |
0.98 |
0.86 |
0.75 |
0.72 |
0.71 |
|
Current Ratio |
2.11 |
1.91 |
1.70 |
1.51 |
1.42 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
|
Stock Ratio |
58 |
54 |
53 |
49 |
44 |
|
Debtors Ratio |
49 |
42 |
41 |
43 |
41 |
|
Creditors Ratio |
49 |
46 |
47 |
44 |
39 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
|
Gearing Ratio |
0.03 |
0.05 |
0.11 |
0.17 |
0.27 |
|
Liabilities Ratio |
0.44 |
0.45 |
0.59 |
0.77 |
0.85 |
|
Times Interest Earned Ratio |
65.30 |
44.59 |
22.50 |
13.81 |
6.21 |
|
Assets Backing Ratio |
29.75 |
28.02 |
24.48 |
22.01 |
19.90 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
|
Operating Profit Margin |
4.18 |
5.53 |
4.09 |
3.50 |
2.11 |
|
Net Profit Margin |
3.06 |
4.09 |
2.97 |
2.54 |
1.46 |
|
Return On Net Assets |
12.80 |
17.45 |
14.55 |
14.29 |
9.60 |
|
Return On Capital Employed |
12.24 |
16.83 |
13.58 |
12.69 |
7.78 |
|
Return On Shareholders' Funds/Equity |
9.20 |
12.61 |
10.10 |
9.60 |
5.59 |
|
Dividend Pay Out Ratio (Times) |
0.37 |
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 66.70 |
|
|
1 |
INR 93.14 |
|
Euro |
1 |
INR 81.43 |
|
MYR |
1 |
INR 17.05 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.