|
|
|
MIRA INFORM REPORT
|
Report No. : |
505320 |
|
Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SKB STORAGE INDUSTRIES SDN. BHD |
|
|
|
|
Registered Office : |
2nd Floor, Wisma Penang Garden, 42, Jalan Sultan Ahmad Shah,
10050 Pulau Pinang, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2017 |
|
|
|
|
Date of Incorporation : |
04.09.2001 |
|
|
|
|
Com. Reg. No.: |
557922-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the manufacturing and sale of roller
shutters, racking systems, storage systems & related steel products. |
|
|
|
|
No. of Employees : |
300 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
557922-U |
||||
|
GST NO. |
: |
001943298048 |
||||
|
COMPANY NAME |
: |
SKB STORAGE INDUSTRIES SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
04/09/2001 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
2ND FLOOR, WISMA PENANG GARDEN, 42, JALAN SULTAN AHMAD SHAH,
10050 PULAU PINANG, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 22, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA DAMANSARA,
47810 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-61572277 |
||||
|
FAX.NO. |
: |
03-61572211 |
||||
|
WEB SITE |
: |
WWW.SKB-SHUTTERS.COM |
||||
|
CONTACT PERSON |
: |
SIN KHENG LEE ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
25 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND SALE OF ROLLER SHUTTERS, RACKING SYSTEMS,
STORAGE SYSTEMS & RELATED STEEL PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 23,351,389 [2017] |
||||
|
NET WORTH |
: |
MYR 802,149 [2017] |
||||
|
STAFF STRENGTH |
: |
300 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
SLOW |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject shall have a minimum one director. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act, 1965 and the company must file its annual returns, together
with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an)
manufacturing and sale of roller shutters, racking systems, storage systems
& related steel products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The immediate holding company of the Subject is SKB SHUTTERS
CORPORATION BERHAD, a company incorporated in MALAYSIA.
The ultimate holding company of the Subject is SKB GLORY SDN.
BHD., a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
28/01/2003 |
MYR 100,000.00 |
MYR 100,000.00 |
|
04/09/2001 |
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 |
(%) |
|
SKB SHUTTERS CORPORATION BERHAD |
LOT 22, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA DAMANSARA,
47810 PETALING JAYA, SELANGOR, MALAYSIA. |
430362U |
100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SIN KHENG LEE |
|
Address |
: |
80, PERSIARAN WANGSA BAIDURI 3, PETALING JAYA, 47500 SUBANG
JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
5206772 |
|
New IC No |
: |
570805-07-5769 |
|
Date of Birth |
: |
05/08/1957 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
04/09/2001 |
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 |
432790K |
LEMBAH SEGAR SDN. BHD. |
Director |
01/08/1997 |
99.00 |
99.00 |
MYR(3,643.00) |
2017 |
- |
26/03/2018 |
|
2 |
894856M |
PRISMA TUNAI SDN. BHD. |
Director |
13/05/2010 |
51,000.00 |
51.00 |
MYR(60,943.00) |
2017 |
- |
26/03/2018 |
|
3 |
207061U |
SKB GLORY SDN. BHD. |
Director |
01/11/1990 |
1,387,500.00 |
92.50 |
MYR1,196,445.00 |
2017 |
- |
26/03/2018 |
|
4 |
430362U |
SKB SHUTTERS CORPORATION BERHAD |
Director |
10/02/2001 |
2,010,000.00 |
5.03 |
MYR2,120,134.00 |
2017 |
- |
26/03/2018 |
|
5 |
368833K |
SKB SHUTTERS INDUSTRIES SDN. BHD. |
Director |
- |
0.00 |
- |
MYR61,436.00 |
2017 |
- |
26/03/2018 |
|
6 |
31982W |
SKB SHUTTERS MANUFACTURING SDN. BHD. |
Director |
08/05/2000 |
0.00 |
- |
MYR2,448,409.00 |
2017 |
- |
26/03/2018 |
|
7 |
557922U |
SKB STORAGE INDUSTRIES SDN. BHD. |
Director |
04/09/2001 |
0.00 |
- |
MYR(828,063.00) |
2017 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
248030W |
RYDE (MALAYSIA) SDN. BHD. |
Director |
13/11/1992 |
08/08/2014 |
- |
- |
|
2 |
139242T |
SKB HOLDINGS SDN.BHD. |
Director |
02/05/1991 |
23/02/2011 |
- |
- |
|
3 |
139242T |
SKB HOLDINGS SDN.BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SIN CHING SAN |
|
Address |
: |
30, PERSIARAN WANGSA BAIDURI 7, 47500 SUBANG JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A1177960 |
|
New IC No |
: |
681120-07-5565 |
|
Date of Birth |
: |
20/11/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
09/10/2006 |
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 |
207061U |
SKB GLORY SDN. BHD. |
Director |
13/07/1992 |
0.00 |
- |
MYR1,196,445.00 |
2017 |
- |
26/03/2018 |
|
2 |
430362U |
SKB SHUTTERS CORPORATION BERHAD |
Director |
10/02/2001 |
0.00 |
- |
MYR2,120,134.00 |
2017 |
- |
26/03/2018 |
|
3 |
31982W |
SKB SHUTTERS MANUFACTURING SDN. BHD. |
Director |
08/05/2000 |
0.00 |
- |
MYR2,448,409.00 |
2017 |
- |
26/03/2018 |
|
4 |
557922U |
SKB STORAGE INDUSTRIES SDN. BHD. |
Director |
09/10/2006 |
0.00 |
- |
MYR(828,063.00) |
2017 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
139242T |
SKB HOLDINGS SDN.BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 3
|
Name Of Subject |
: |
MS. CHOU LEE SIN |
|
Address |
: |
14, JALAN U2/48B, FAIRWAY 18, SAUJANA GOLF RESORT, 40150 SHAH
ALAM, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
- 80, PSN.WANGSA BAIDURI 3, 47500 P.JAYA, SELANGOR, MALAYSIA. - 2-8-5, AMAYA SAUJANA PERSIARAN GOLF, 40150 SHAH ALAM, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
9533915 |
|
New IC No |
: |
590129-71-5086 |
|
Date of Birth |
: |
29/01/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
09/10/2006 |
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 |
1246527T |
GOLDEN FACE (M) SDN. BHD. |
Director |
13/09/2017 |
1.00 |
33.33 |
- |
- |
- |
26/03/2018 |
|
2 |
432790K |
LEMBAH SEGAR SDN. BHD. |
Director |
01/08/1997 |
1.00 |
1.00 |
MYR(3,643.00) |
2017 |
- |
26/03/2018 |
|
3 |
924389T |
LIVSOLUTION INTERNATIONAL SDN. BHD. |
Director |
22/12/2010 |
3.00 |
30.00 |
MYR(3,371.00) |
2015 |
Disolved by Registrar |
26/03/2018 |
|
4 |
430362U |
SKB SHUTTERS CORPORATION BERHAD |
Director |
10/02/2001 |
0.00 |
- |
MYR2,120,134.00 |
2017 |
- |
26/03/2018 |
|
5 |
368833K |
SKB SHUTTERS INDUSTRIES SDN. BHD. |
Director |
- |
0.00 |
- |
MYR61,436.00 |
2017 |
- |
26/03/2018 |
|
6 |
31982W |
SKB SHUTTERS MANUFACTURING SDN. BHD. |
Director |
08/05/2000 |
0.00 |
- |
MYR2,448,409.00 |
2017 |
- |
26/03/2018 |
|
7 |
557922U |
SKB STORAGE INDUSTRIES SDN. BHD. |
Director |
09/10/2006 |
0.00 |
- |
MYR(828,063.00) |
2017 |
- |
26/03/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
285802M |
AEROCUT ENGINEERING (M) SDN. BHD. |
Director |
03/06/2003 |
08/12/2003 |
- |
- |
DIRECTOR 4
|
Name Of Subject |
: |
MS. SIN SIEW HUEY |
|
Address |
: |
14, JALAN U2/48B, LAMAN SAUJANA 2, SUBANG SAUJANA GOLF RESORT, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
|
New IC No |
: |
820805-10-5402 |
|
Date of Birth |
: |
05/08/1982 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/02/2016 |
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 |
1246527T |
GOLDEN FACE (M) SDN. BHD. |
Director |
13/09/2017 |
1.00 |
33.33 |
- |
- |
- |
26/03/2018 |
|
2 |
432790K |
LEMBAH SEGAR SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR(3,643.00) |
2017 |
- |
26/03/2018 |
|
3 |
924389T |
LIVSOLUTION INTERNATIONAL SDN. BHD. |
Director |
22/12/2010 |
3.00 |
30.00 |
MYR(3,371.00) |
2015 |
Disolved by Registrar |
26/03/2018 |
|
4 |
894856M |
PRISMA TUNAI SDN. BHD. |
Director |
27/08/2013 |
49,000.00 |
49.00 |
MYR(60,943.00) |
2017 |
- |
26/03/2018 |
|
5 |
207061U |
SKB GLORY SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR1,196,445.00 |
2017 |
- |
26/03/2018 |
|
6 |
430362U |
SKB SHUTTERS CORPORATION BERHAD |
Director |
15/07/2009 |
0.00 |
- |
MYR2,120,134.00 |
2017 |
- |
26/03/2018 |
|
7 |
368833K |
SKB SHUTTERS INDUSTRIES SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR61,436.00 |
2017 |
- |
26/03/2018 |
|
8 |
31982W |
SKB SHUTTERS MANUFACTURING SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR2,448,409.00 |
2017 |
- |
26/03/2018 |
|
9 |
557922U |
SKB STORAGE INDUSTRIES SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR(828,063.00) |
2017 |
- |
26/03/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
MS. SIN TZE YI |
|
Address |
: |
14, JALAN U2/48B, LAMAN SAUJANA 2, SUBANG SAUJANA GOLF RESORT,
40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
New IC No |
: |
870714-14-6044 |
|
Date of Birth |
: |
14/07/1987 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/02/2016 |
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 |
1246527T |
GOLDEN FACE (M) SDN. BHD. |
Shareholder |
- |
1.00 |
33.33 |
- |
- |
- |
26/03/2018 |
|
2 |
432790K |
LEMBAH SEGAR SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR(3,643.00) |
2017 |
- |
26/03/2018 |
|
3 |
924389T |
LIVSOLUTION INTERNATIONAL SDN. BHD. |
Shareholder |
- |
3.00 |
30.00 |
MYR(3,371.00) |
2015 |
Disolved by Registrar |
26/03/2018 |
|
4 |
894856M |
PRISMA TUNAI SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR(60,943.00) |
2017 |
- |
26/03/2018 |
|
5 |
207061U |
SKB GLORY SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR1,196,445.00 |
2017 |
- |
26/03/2018 |
|
6 |
430362U |
SKB SHUTTERS CORPORATION BERHAD |
Director |
04/12/2017 |
0.00 |
- |
MYR2,120,134.00 |
2017 |
- |
26/03/2018 |
|
7 |
368833K |
SKB SHUTTERS INDUSTRIES SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR61,436.00 |
2017 |
- |
26/03/2018 |
|
8 |
31982W |
SKB SHUTTERS MANUFACTURING SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR2,448,409.00 |
2017 |
- |
26/03/2018 |
|
9 |
557922U |
SKB STORAGE INDUSTRIES SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR(828,063.00) |
2017 |
- |
26/03/2018 |
|
10 |
1223592K |
THE BAG ATELIER SDN. BHD. |
Director |
22/03/2017 |
1.00 |
100.00 |
- |
- |
- |
26/03/2018 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
SIN KHENG HONG |
112 PERSIARAN WANGSA BAIDURI 3, PETALING JAYA, SUBANG JAYA,
SELANGOR, MALAYSIA |
600120-07-5613 |
04/09/2001 |
29/05/2008 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SIN KHENG LEE |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG PLT (LLP0010081-LCA) |
|
Auditor' Address |
: |
LEVEL 18, HUNZA TOWER, 163E, JALAN KELAWEI, 10250 GEORGETOWN,
PULAU PINANG, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. CHIN LEE PHING |
|
IC / PP No |
: |
A2056059 |
|
|
New IC No |
: |
711216-07-5142 |
|
|
Address |
: |
15, TAMAN LUMBA KUDA, 11400 PULAU PINANG, PULAU PINANG,
MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
EON 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 legal action was found in our databank.
No winding up petition was found in our databank.
|
CRIMINAL CHECK - SUBJECT COMPANY AS A DEFENDANT |
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No criminal record was found in our databank.
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
CRIMINAL
RECORDS CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been listed by our customers and debtors that
have been placed or assigned to us for collection.
No defaulter record & debt collection case was found in our defaulters'
databank.
|
PAYMENT RECORD |
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
TAIWAN,CHINA |
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 |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
|
|
Ownership of premises |
: |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2016 |
2014 |
2013 |
|||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
300 |
250 |
250 |
250 |
|||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and sale
of roller shutters, racking systems, storage systems & related steel
products.
The Subject's production site is equipment with advanced automated and
semi-automated machineries to ensure production of high quality products.
The SKB roller shutters are known for its high quality workmanship and reliable
designs which serves to cater for residential, industrial and commercial
purposes.
SKB designs and manufactures a wide-range of windows variation and sun shading
systems. With the growing demand of high quality and reliable windows, its
improved designs incorporate key elements including safety, security and energy
saving features.
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 |
: |
03-61572277 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT LOT 22 JALAN TEKNOLOGI TAMA SAIN SELANGOR KOTA DAMANSARA
47810 PETALING JAYA SELANGOR DARUL EHSAN |
|
Current Address |
: |
LOT 22, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA DAMANSARA,
47810 PETALING JAYA, SELANGOR, 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.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(103.23%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(32.98%) |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.The Subject could be more efficient in
controlling its operating costs and had managed to reduce its losses during
the year. The Subject's unfavourable returns on shareholders' funds indicate
the management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
240 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
9 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
138 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The favourable
debtors' days could be due to the good credit control measures implemented by
the Subject. The unfavourable creditors' ratio could be due to the Subject
taking advantage of the credit granted by its suppliers. However this may
affect the goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.44 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.94 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(0.47 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
12.48 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate
sufficient income to service its interest. If the situation does not
improve, the Subject may be vulnerable to default in servicing the interest.
The Subject was highly geared, thus it had a high financial risk. The Subject
was dependent on loans to finance its business needs. In times of economic
downturn and / or high interest rate, the Subject will become less profitable
and competitive than other firms in the same industry, which are lowly geared.
This is because the Subject has to service the interest and to repay the
loan, which will erode part of its profits. The profits will fluctuate
depending on the Subject's turnover and the interest it needs to pay. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's turnover showed a volatile trend but its losses
were lower when compared to the previous corresponding period. This could
suggest that the Subject was more efficient in its operating cost control and
was more competitive. Due to its weak liquidity position, the Subject will be
faced with problems in meeting all its short term obligations if no short
term loan is obtained or additional capital injected into the Subject. The
Subject's interest cover was negative, indicating that it did not generate
sufficient income to service its interest. If its result does not show
impressive improvements or succeed obtaining short term financing or capital
injection, it may not be able to service its interest and repay the loans.
The Subject's gearing level was high and its going concern will be in doubt
if there is no injection of additional shareholders' funds in times of
economic downturn and / or high interest rates. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
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 |
|
|
25 : MANUFACTURE OF FABRICATED METAL PRODUCTS EXCEPT MACHINERY
AND EQUIPMENT |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is forecast to increase 5.3% in year
2018 (2017: 5.5%). Output of export-oriented industries is projected to
expand on account of sustained demand for E&E, refined petroleum and woods
products. Growth in the domestic-oriented industries is anticipated to remain
resilient supported by ongoing construction of infrastructure projects as
well as strong demand for consumer products, especially food and transport
equipment. |
|
|
Value added of the manufacturing sector expanded further by 5.8%
during the first half of 2017 (January – June 2016: 4.4%) with expansion
across a wide range of outputs in both the export- and domestic-oriented
industries. During the first eight months, production increased 6.4%, while
sales rebounded significantly by 15.6% to RM500.2 billion (January – August
2016: 4%; -0.7%; RM432.8 billion). Output of export-oriented industries rose
6.5% (January – August 2016: 4.3%) led by an upturn in global electronics cycle
and further enhanced by strong demand for resource-based products. Meanwhile,
domestic-oriented industries expanded 6.2% (January – August 2016: 3.4%)
benefiting from vibrant consumption and construction activities. |
|
|
Within the export-oriented industries, E&E output expanded
9.3% while sales surged 16.3% to RM169.5 billion (January – August 2016:
6.8%; 9%; RM145.8 billion). Growth emanated mainly from the expansion in
output of printed circuit boards, semiconductor devices and electronic
integrated circuits which strengthened further by 24.4%, 11.9% and 16.9%
(January – August 2016: 11.9%; 5.9%; 15%), respectively. This is in line with
the trend in global semiconductor sales which is expected to expand 11.5% in
2017, the highest level since 2010. On the contrary, the output of computers
and peripheral equipment contracted 7.7% (January – August 2016: 3.1%) as a
result of lower demand for notebooks and personal computers following rising
preferences for smartphones and tablets. Meanwhile, consumer electronics grew
at a moderate pace of 2.6% (January – August 2016: 5.3%) partly due to lower
demand for in-car entertainment, portable media players and digital cameras. |
|
|
Output of wood and wood products grew 7.3% (January – August
2016: 7.8%). The growth was primarily supported by output of sawmilling and
planning of wood which expanded 14.7% (January – August 2016: 16.8%) in
response to strong demand from Australia, Japan and the US. Meanwhile,
production of wooden and cane furniture remained steady at 10.9% (January –
August 2016: 10.9%), benefiting from greater adoption of technology and
diversification of export markets. |
|
|
Manufacture of food products rose 11.2%, largely attributed to a
significant increase in refined palm oil at 26.1% (January – August 2016:
6.3%; -3.3%), following higher production of CPO. Meanwhile, output of other
food products grew 7% supported by production of bread, cakes and other
bakery (15.6%) as well as biscuits and cookies (12%) to meet the rising
demand from households (January – August 2016: 11.1%; 19.2%; 19.1%). |
|
|
For the year, the manufacturing sector is projected to expand
further by 5.5% (2016: 4.4%) mainly attributed to an upturn in global semiconductor
sales as well as higher demand for consumer products and construction
materials. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
FINANCIALs
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIALSTATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
SKB STORAGE INDUSTRIES SDN. BHD. |
|
Financial Year End |
2017-06-30 |
2016-06-30 |
2015-06-30 |
2014-06-30 |
2013-06-30 |
|
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 |
23,351,389 |
18,284,001 |
23,102,578 |
22,706,310 |
20,085,220 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
23,351,389 |
18,284,001 |
23,102,578 |
22,706,310 |
20,085,220 |
|
Costs of Goods Sold |
(21,171,102) |
(16,949,909) |
(21,667,644) |
(19,784,957) |
(19,640,876) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
2,180,287 |
1,334,092 |
1,434,934 |
2,921,353 |
444,344 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(828,063) |
(974,780) |
(719,567) |
397,663 |
(3,479,591) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(828,063) |
(974,780) |
(719,567) |
397,663 |
(3,479,591) |
|
Taxation |
- |
23,000 |
(92,303) |
- |
207,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(828,063) |
(951,780) |
(811,870) |
397,663 |
(3,272,359) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
6,168,558 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
6,168,558 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
702,149 |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
702,149 |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
329,287 |
171,160 |
165,534 |
96,547 |
92,490 |
|
Bankers' acceptance |
144,105 |
92,973 |
99,990 |
75,457 |
73,301 |
|
Lease interest |
78,047 |
24,575 |
13,688 |
25,197 |
35,458 |
|
Others |
12,049 |
3,405 |
23,163 |
24,998 |
13,527 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
563,488 |
292,113 |
302,375 |
222,199 |
214,776 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
660,023 |
633,615 |
608,595 |
666,663 |
767,749 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
660,023 |
633,615 |
608,595 |
666,663 |
767,749 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
SKB STORAGE INDUSTRIES SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
3,195,541 |
2,704,880 |
2,624,299 |
2,463,779 |
2,882,025 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,195,541 |
2,704,880 |
2,624,299 |
2,463,779 |
2,882,025 |
|
CURRENT ASSETS |
|||||
|
Stocks |
14,206,030 |
6,906,437 |
6,627,731 |
8,286,342 |
11,569,242 |
|
Contract work-in-progress |
1,151,166 |
1,676,595 |
1,754,190 |
1,854,549 |
- |
|
Trade debtors |
557,079 |
656,980 |
1,127,232 |
571,166 |
1,321,307 |
|
Other debtors, deposits & prepayments |
4,123,644 |
3,033,537 |
137,885 |
81,771 |
85,254 |
|
Amount due from related companies |
- |
150,093 |
124,185 |
2,040,773 |
1,320,574 |
|
Cash & bank balances |
6,108,667 |
1,531,683 |
981,933 |
2,077,979 |
271,907 |
|
Others |
494,927 |
571,103 |
319,663 |
514,000 |
514,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
26,641,513 |
14,526,428 |
11,072,819 |
15,426,580 |
15,082,284 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
29,837,054 |
17,231,308 |
13,697,118 |
17,890,359 |
17,964,309 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
7,996,238 |
4,025,584 |
1,700,000 |
2,964,277 |
3,988,474 |
|
Other creditors & accruals |
7,663,110 |
1,778,963 |
760,169 |
1,091,010 |
1,178,327 |
|
Bank overdraft |
5,461,125 |
2,324,917 |
2,444,873 |
2,241,750 |
1,477,325 |
|
Other borrowings |
228,681 |
99,920 |
510,243 |
1,452,190 |
1,161,081 |
|
Bill & acceptances payable |
3,573,000 |
2,047,000 |
1,811,000 |
1,378,000 |
1,091,000 |
|
Amounts owing to holding company |
1,860,822 |
2,980,822 |
2,980,822 |
4,755,822 |
5,455,822 |
|
Amounts owing to related companies |
912,375 |
1,613,621 |
593,013 |
339,900 |
282,405 |
|
Lease payables |
594,075 |
251,182 |
168,285 |
170,230 |
241,460 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
28,289,426 |
15,122,009 |
10,968,405 |
14,393,179 |
14,875,894 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(1,647,913) |
(595,581) |
104,414 |
1,033,401 |
206,390 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Lease obligations |
745,479 |
479,087 |
146,721 |
103,318 |
92,216 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
745,479 |
479,087 |
146,721 |
103,318 |
92,216 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
802,149 |
1,630,212 |
2,581,992 |
3,393,862 |
2,996,199 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
702,149 |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
702,149 |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
802,149 |
1,630,212 |
2,581,992 |
3,393,862 |
2,996,199 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
SKB STORAGE INDUSTRIES SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
6,108,667 |
1,531,683 |
981,933 |
2,077,979 |
271,907 |
|
Net Liquid Funds |
(2,925,458) |
(2,840,234) |
(3,273,940) |
(1,541,771) |
(2,296,418) |
|
Net Liquid Assets |
(15,853,943) |
(7,502,018) |
(6,523,317) |
(7,252,941) |
(11,362,852) |
|
Net Current Assets/(Liabilities) |
(1,647,913) |
(595,581) |
104,414 |
1,033,401 |
206,390 |
|
Net Tangible Assets |
802,149 |
1,630,212 |
2,581,992 |
3,393,862 |
2,996,199 |
|
Net Monetary Assets |
(16,599,422) |
(7,981,105) |
(6,670,038) |
(7,356,259) |
(11,455,068) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
(264,575) |
(682,667) |
(417,192) |
619,862 |
(3,264,815) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
395,448 |
(49,052) |
191,403 |
1,286,525 |
(2,497,066) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
10,008,285 |
4,950,924 |
4,912,837 |
5,175,258 |
3,821,622 |
|
Total Liabilities |
29,034,905 |
15,601,096 |
11,115,126 |
14,496,497 |
14,968,110 |
|
Total Assets |
29,837,054 |
17,231,308 |
13,697,118 |
17,890,359 |
17,964,309 |
|
Net Assets |
802,149 |
1,630,212 |
2,581,992 |
3,393,862 |
2,996,199 |
|
Net Assets Backing |
802,149 |
1,630,212 |
2,581,992 |
3,393,862 |
2,996,199 |
|
Shareholders' Funds |
802,149 |
1,630,212 |
2,581,992 |
3,393,862 |
2,996,199 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
702,149 |
1,530,212 |
2,481,992 |
3,293,862 |
2,896,199 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
27.71 |
(20.86) |
1.75 |
13.05 |
(25.64) |
|
Proft/(Loss) Before Tax |
15.05 |
(35.47) |
(280.95) |
111.43 |
(381.79) |
|
Proft/(Loss) After Tax |
13.00 |
(17.23) |
(304.16) |
112.15 |
(375.69) |
|
Total Assets |
73.16 |
25.80 |
(23.44) |
(0.41) |
(16.99) |
|
Total Liabilities |
86.11 |
40.36 |
(23.33) |
(3.15) |
(2.63) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.22 |
0.10 |
0.09 |
0.14 |
0.02 |
|
Liquid Ratio |
0.44 |
0.50 |
0.41 |
0.50 |
0.24 |
|
Current Ratio |
0.94 |
0.96 |
1.01 |
1.07 |
1.01 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
240 |
171 |
132 |
163 |
210 |
|
Debtors Ratio |
9 |
13 |
18 |
9 |
24 |
|
Creditors Ratio |
138 |
87 |
29 |
55 |
74 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
12.48 |
3.04 |
1.90 |
1.52 |
1.28 |
|
Liabilities Ratio |
36.20 |
9.57 |
4.30 |
4.27 |
5.00 |
|
Times Interest Earned Ratio |
(0.47) |
(2.34) |
(1.38) |
2.79 |
(15.20) |
|
Assets Backing Ratio |
8.02 |
16.30 |
25.82 |
33.94 |
29.96 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(3.55) |
(5.33) |
(3.11) |
1.75 |
(17.32) |
|
Net Profit Margin |
(3.55) |
(5.21) |
(3.51) |
1.75 |
(16.29) |
|
Return On Net Assets |
(32.98) |
(41.88) |
(16.16) |
18.26 |
(108.97) |
|
Return On Capital Employed |
(3.77) |
(15.40) |
(8.06) |
10.80 |
(71.51) |
|
Return On Shareholders' Funds/Equity |
(103.23) |
(58.38) |
(31.44) |
11.72 |
(109.22) |
|
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 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
|
MYR |
1 |
INR 16.92 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.