MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

505886

Report Date :

27.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

INTERNATIONAL IMAGING SYSTEM SDN. BHD.

 

 

Registered Office :

12, Jalan Pju 1a/43c, Winchester Ara Damansara, 47301 Petaling Jaya, Selangor

 

 

Country :

Malaysia

 

 

Date of Incorporation :

02.12.2014

 

 

Com. Reg. No.:

1120823-V

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The Subject is engaged in the trading of photo copy, imaging machines and others.

 

 

No. of Employees :

20 (2017)

 

 

 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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.

:

1120823-V

GST NO.

:

000808505344

COMPANY NAME

:

INTERNATIONAL IMAGING SYSTEM SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

02/12/2014

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

12, JALAN PJU 1A/43C, WINCHESTER ARA DAMANSARA, 47301 PETALING JAYA, SELANGOR, MALAYSIA.

BUSINESS ADDRESS

:

9, JALAN 2/118B, DESA TUN RAZAK, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

TEL.NO.

:

03-91735631/91735632

FAX.NO.

:

03-91735630

CONTACT PERSON

:

LEE CHEE WENG ( MANAGING DIRECTOR )

 

 

 

INDUSTRY CODE

:

47611

PRINCIPAL ACTIVITY

:

TRADING OF PHOTO COPY, IMAGING MACHINES AND OTHERS

AUTHORISED CAPITAL

:

MYR 400,000.00 DIVIDED INTO
ORDINARY SHARE 400,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 1,000.00 DIVIDED INTO
ORDINARY SHARES 1,000 CASH OF MYR 1.00 EACH.

 

 

 

SALES

:

N/A

NET WORTH

:

N/A

 

 

 

STAFF STRENGTH

:

20 (2017)

BANKER (S)

:

CIMB BANK BHD
STANDARD CHARTERED BANK

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

UNKNOWN

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

HIGH

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 photo copy, imaging machines and others.

 

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

 

Former Address(es)

Address

As At Date

42B JALAN SS6/8, KELANA JAYA, 47301, SELANGOR, MALAYSIA

25/01/2018

 

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

02/01/2015

MYR 400,000.00

MYR 1,000.00

 

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

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. LEE CHEE WENG +

LOT 39, JALAN 4/118C, DESA TUN RAZAK, INDUSTRIAL PARK, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

760305-14-5887 A3410742

500.00

50.00

RICK LEE +

19 BUKIT KIARA RESIDENCES, NO.68 JALAN SRI HARTAMAS 1, TAMAN SRI HARTAMAS, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

E4133641

500.00

50.00

 

 

 

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

------

 

 

 

1,000.00

100.00

 

 

 

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

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MR. LEE CHEE WENG

Address

:

LOT 39, JALAN 4/118C, DESA TUN RAZAK, INDUSTRIAL PARK, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

A3410742

New IC No

:

760305-14-5887

Date of Birth

:

05/03/1976

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

02/12/2014

 

 

 

 

 

 

 

 

 

 

 

 


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

143546M

FIKIR MAJU SDN.BHD.

Director

12/03/1998

15,000.00

30.00

MYR(22,591.00)

2005

-

26/03/2018

2

1120823V

INTERNATIONAL IMAGING SYSTEM SDN. BHD.

Director

02/12/2014

500.00

50.00

-

-

-

26/03/2018

3

727416T

KOMUNITI BKR SDN. BHD.

Shareholder

-

1.00

3.03

MYR(228,621.00)

2011

-

26/03/2018

4

647163X

PHOTOLAB DIGITAL SDN. BHD.

Director

29/03/2004

112.00

28.00

MYR73,186.00

2006

-

26/03/2018

5

506949W

PHOTOLAB SYSTEM SDN. BHD.

Director

02/03/2000

145,000.00

48.33

MYR108,812.00

2003

In the process of striking off

26/03/2018

6

958492H

PICAPTURE SDN. BHD.

Director

25/08/2011

450.00

45.00

MYR(5,295.00)

2012

Disolved by Registrar

26/03/2018

7

894166W

POTENSI TERAJU SDN. BHD.

Director

28/04/2010

64,000.00

40.00

MYR(166,796.00)

2017

-

26/03/2018

8

392381M

TANCHO INDUSTRY SDN. BHD.

Director

07/07/1998

1.00

50.00

MYR2,260.00

2006

-

26/03/2018

9

1112914K

VERTE VENTURE SDN. BHD.

Director

13/10/2014

500.00

50.00

-

-

Disolved by Registrar

26/03/2018


FORMER INTEREST

No

Local No

Company

Designation

App Date

Withdrawn Date

Shareholding

Status

1

001650518U

HONSHING TRADING

SOLE PROPRIETORSHIP

17/11/2006

06/11/2017

-

-

 

DIRECTOR 2

 

Name Of Subject

:

RICK LEE

Address

:

19 BUKIT KIARA RESIDENCES, NO.68 JALAN SRI HARTAMAS 1, TAMAN SRI HARTAMAS, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Other Address(es)

:

9, JALAN 2/118B, DESA TUN RAZAK, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

IC / PP No

:

E4133641

 

 

 

Date of Birth

:

05/12/1948

 

 

 

 

 

 

Date of Appointment

:

02/12/2014

 

 

 

 

 

 

 

 

 

 

 

 



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

1120823V

INTERNATIONAL IMAGING SYSTEM SDN. BHD.

Director

02/12/2014

500.00

50.00

-

-

-

26/03/2018

2

647163X

PHOTOLAB DIGITAL SDN. BHD.

Director

10/09/2016

160.00

40.00

MYR73,186.00

2006

-

26/03/2018

3

894166W

POTENSI TERAJU SDN. BHD.

Director

21/11/2014

48,000.00

30.00

MYR(166,796.00)

2017

-

26/03/2018



 

MANAGEMENT

 

 

 

1)

Name of Subject

:

LEE CHEE WENG

 

Position

:

MANAGING DIRECTOR

 

 

 

AUDITOR


No Auditor found in our databank

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. TEE PIOW HONG

 

IC / PP No

:

A2481675

 

New IC No

:

730225-10-5538

 

Address

:

40, JALAN SS5C/11, KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA.

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

CIMB BANK BHD

 

 

 

 

 

 

 

 

 

2)

Name

:

STANDARD CHARTERED BANK

 

 

 

 

 

 

 

 

 

 

 

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 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 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.

 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

 

 

 

 

 

 

 

 

 

Credit Term

:

N/A

 

 

 

 

 

 

Payment Mode

:

CHEQUES
CASH

 

 

OPERATIONS

 

Goods Traded

:

PHOTO COPY, IMAGING MACHINES AND OTHERS

 

 

 

 

Total Number of Employees:

YEAR

2017

2016

 

GROUP

N/A

N/A

 

 

 

 

 

 

 

COMPANY

20

20

 

 

 

 

 

 

 

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of photo copy, imaging machines and others.

The Subject is engaged in the trading of imaging, copier machines and others.

The Subject sells Fuji brand.

The Subject however 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

:

03-9173 5631, 9173 5632, 9173 8675

Current Telephone Number

:

03-91735631/91735632

Match

:

YES

 

 

 

Address Provided by Client

:

NO.9JALAN 2/118B, DESA TUN RAZAK 56000 KUALA LUMPUR,MALAYSIA

Current Address

:

9, JALAN 2/118B, DESA TUN RAZAK, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Match

:

NO

 

 

 

Latest Financial Accounts

:

NO


On 26th April 2018 contacted the Subject's Accountant and its Company Secretary for the latest financial accounts. However they refused to disclose any information on this.

 

 

Other Investigations


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

The contact numbers provided at 9173 8675 is not answered.

The address provided is incomplete.


FINANCIAL ANALYSIS

 

No latest financial accounts are available at the Registry Office, thus we are not able to comment on the Subject's financial performance.

 

 

 

 

 

 

 

Overall financial condition of the Subject : N/A

 

 

 

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

47611 : Retail sale of office supplies and equipment

 

 

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

 


Incorporated in 2014, the Subject is a Private Limited company, focusing on trading of photo copy, imaging machines and others. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. Being a small company with an issued and a paid up capital of MYR 1,000 contributed from individual shareholders, the Subject does not have strong shareholders' backing. Without a strong backing, the Subject may face difficulties in its attempt to further expand its business in the future.

Investigation revealed that the Subject concentrates only on the local market. This narrow market segment has placed the Subject at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the Subject's business performance. 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.

No financial accounts are available for analysis. As such, we are not able to comment on the Subject's current financial standing.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities.

Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.

 

 

FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office.



 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.83

UK Pound

1

INR 93.17

Euro

1

INR 81.38

MYR

1

INR 17.01

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

KET

                                                


 

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.