|
|
|
MIRA INFORM REPORT
|
Report No. : |
488487 |
|
Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALPS COATING SDN.
BHD. |
|
|
|
|
Registered Office : |
35, 1st. Floor, Jalan Kelisa Emas 1, Taman Kelisa
Emas, 13700 Perai, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.09.2016 |
|
|
|
|
Date of Incorporation : |
28.07.2008 |
|
|
|
|
Com. Reg. No.: |
827021-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
(as a / as an) manufacturing and trading in all kinds and types of industrial
paint, automotive coating and related chemicals. |
|
|
|
|
No. of Employees : |
60 [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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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. |
: |
827021-K |
||||
|
GST NO. |
: |
001602224128 |
||||
|
COMPANY NAME |
: |
ALPS COATING SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
28/07/2008 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
35, 1ST. FLOOR, JALAN KELISA EMAS 1, TAMAN
KELISA EMAS, 13700 PERAI, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
1024, LENGKOK PERINDUSTRIAN BUKIT MINYAK 2,
KAWASAN PERINDUSTRIAN BUKIT MINYAK,, 14100 SIMPANG AMPAT, PULAU PINANG,
MALAYSIA. |
||||
|
TEL.NO. |
: |
04-5013678 |
||||
|
FAX.NO. |
: |
04-5013788 |
||||
|
CONTACT PERSON |
: |
YAP TENG YOONG ( GENERAL MANAGER ) |
||||
|
INDUSTRY CODE |
: |
20221 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING IN ALL KINDS AND
TYPES OF INDUSTRIAL PAINT, AUTOMOTIVE COATING AND RELATED CHEMICALS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 14,947,948 [2016] |
||||
|
NET WORTH |
: |
MYR 3,133,156 [2016] |
||||
|
STAFF STRENGTH |
: |
60 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
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 trading in all kinds and types of industrial
paint, automotive coating and related chemicals.
The subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At Date |
|
PLOT 169A, LENGKOK PERINDS. BKT MINYAK 2,
KAW. PERIND. BUKIT MINYAK, MUKIM 13, 14000, PULAU PINANG, MALAYSIA |
15/02/2013 |
|
NO 5, TINGKAT PERUSAHAAN 3A, PRAI
INDUSTRIAL ESTATE, 13600, PULAU PINANG, MALAYSIA |
N/A |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
27/08/2009 |
MYR 500,000.00 |
MYR 500,000.00 |
|
24/03/2009 |
MYR 100,000.00 |
MYR 100,000.00 |
|
28/07/2008 |
MYR 100,000.00 |
MYR 100.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. YEAP HUP SUAN + |
18, LORONG KEMPAS 4, TAMAN KEMPAS, 13400
BUTTERWORTH, PULAU PINANG, MALAYSIA. |
600525-08-5019 5892185 |
200,000.00 |
40.00 |
|
MR. YEAP TENG YOONG + |
1B-11-3A, PLATINO, PERSIARAN TUNKU KUDIN,
11700 GELUGOR, PULAU PINANG, MALAYSIA. |
750811-08-5769 A3121835 |
100,000.00 |
20.00 |
|
MS. YEAP SIEW KIAN + |
38, JALAN BAGAN 45, TAMAN BAGAN, 13400
BUTTERWORTH, PULAU PINANG, MALAYSIA. |
671103-08-6394 A0842166 |
75,000.00 |
15.00 |
|
MS. LOW SUN NEE + |
22, LORONG SERI AROWANA 5, TAMAN SERI
AROWANA, 13700 PERAI, PULAU PINANG, MALAYSIA. |
751122-07-5236 A3195209 |
25,000.00 |
5.00 |
|
MR. YEAP TENG KHOON |
8, JALAN PUTERI 6/3, BANDAR PUTERI, 47100
PUCHONG, SELANGOR, MALAYSIA. |
740310-08-6107 A2760825 |
100,000.00 |
20.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
ABDULLAH BIN MD. ZUKI |
MALAYSIA |
691009-02-5147 |
N/A |
N/A |
|
TEOH PAK ONG |
MALAYSIA |
560130-09-5067 |
474,905.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. HOONG SWEE LING @ ANG SWEE LING |
|
Address |
: |
18, LORONG KEMPAS 4, TAMAN KEMPAS, BAGAN
LALLANG, 13400 BUTTERWORTH, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
7013456 |
|
New IC No |
: |
611221-02-5272 |
|
Date of Birth |
: |
21/12/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/02/2011 |
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 |
827021K |
ALPS COATING SDN. BHD. |
Director |
08/02/2011 |
0.00 |
- |
MYR981,558.00 |
2016 |
- |
26/12/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. LOW SUN NEE |
|
Address |
: |
22, LORONG SERI AROWANA 5, TAMAN SERI
AROWANA, 13700 PERAI, PULAU PINANG, MALAYSIA. |
|
Other Address(es) |
: |
1-03-A, PANGSAPURI CANTIK, JALAN CANTIK,
13400 BUTTERWORTH, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A3195209 |
|
New IC No |
: |
751122-07-5236 |
|
Date of Birth |
: |
22/11/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
28/07/2008 |
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 |
827021K |
ALPS COATING SDN. BHD. |
Director |
28/07/2008 |
25,000.00 |
5.00 |
MYR981,558.00 |
2016 |
- |
26/12/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
MS. YEAP SIEW KIAN |
|
Address |
: |
38, JALAN BAGAN 45, TAMAN BAGAN, 13400
BUTTERWORTH, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A0842166 |
|
New IC No |
: |
671103-08-6394 |
|
Date of Birth |
: |
03/11/1967 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/02/2011 |
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 |
827021K |
ALPS COATING SDN. BHD. |
Director |
08/02/2011 |
75,000.00 |
15.00 |
MYR981,558.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
270112K |
PREMIERPATH SDN. BHD. |
Director |
30/05/1995 |
26/06/2010 |
- |
- |
|
2 |
270112K |
PREMIERPATH SDN. BHD. |
Shareholder |
- |
- |
- |
- |
|
3 |
PG0099856A |
SK HARAPAN ENTERPRISE |
SOLE PROPRIETORSHIP |
18/06/2004 |
08/06/2017 |
- |
- |
DIRECTOR 4
|
Name Of Subject |
: |
MR. YEAP TENG YOONG |
|
Address |
: |
1B-11-3A, PLATINO, PERSIARAN TUNKU KUDIN,
11700 GELUGOR, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
A3121835 |
|
New IC No |
: |
750811-08-5769 |
|
Date of Birth |
: |
11/08/1975 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
08/02/2011 |
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 |
827021K |
ALPS COATING SDN. BHD. |
Director |
08/02/2011 |
100,000.00 |
20.00 |
MYR981,558.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
617501T |
PREMIERPATH (K.L.) SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 5
|
Name Of Subject |
: |
MR. YEAP HUP SUAN |
|
Address |
: |
18, LORONG KEMPAS 4, TAMAN KEMPAS, 13400
BUTTERWORTH, PULAU PINANG, MALAYSIA. |
|
Other Address(es) |
: |
38,JALAN BAGAN 45, TAMAN BAGAN, 13400
BUTTERWORTH, MALAYSIA. |
|
IC / PP No |
: |
5892185 |
|
New IC No |
: |
600525-08-5019 |
|
Date of Birth |
: |
25/05/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/11/2013 |
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 |
827021K |
ALPS COATING SDN. BHD. |
Director |
26/11/2013 |
200,000.00 |
40.00 |
MYR981,558.00 |
2016 |
- |
26/12/2017 |
|
2 |
1260780P |
GO GREENWAY SDN. BHD. |
Director |
20/12/2017 |
1.00 |
100.00 |
- |
- |
- |
26/12/2017 |
|
3 |
1206653A |
PONY TALE BW SDN. BHD. |
Director |
19/12/2016 |
18,060.00 |
18.06 |
- |
- |
- |
26/12/2017 |
|
4 |
1155481M |
PONY TALE SDN. BHD. |
Shareholder |
- |
50,000.00 |
33.33 |
- |
- |
- |
26/12/2017 |
|
5 |
1240193T |
WONDER ONE ENTERPRISE SDN. BHD. |
Director |
25/07/2017 |
7.00 |
70.00 |
- |
- |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
PG0051613D |
MEGA AUTO REFINISH SPRAY CENTRE |
SOLE PROPRIETORSHIP |
18/06/2004 |
04/07/2012 |
- |
- |
|
2 |
1155481M |
PONY TALE SDN. BHD. |
Director |
19/12/2016 |
06/12/2017 |
- |
- |
|
3 |
617501T |
PREMIERPATH (K.L.) SDN. BHD. |
Director |
04/06/2003 |
28/02/2010 |
- |
- |
|
4 |
617501T |
PREMIERPATH (K.L.) SDN. BHD. |
Shareholder |
- |
- |
1.00 |
- |
|
5 |
270112K |
PREMIERPATH SDN. BHD. |
Director |
30/05/1995 |
28/02/2010 |
- |
- |
|
6 |
270112K |
PREMIERPATH SDN. BHD. |
Shareholder |
- |
- |
- |
- |
|
7 |
4887M |
SEAL INCORPORATED BERHAD |
Shareholder |
- |
- |
1100000.00 |
- |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
ABDULLAH BIN MD ZUKI |
NO. A-2-12, LORONG MACHANG BUBUK 20, TAMAN
MACHANG BUBUK, BUKIT MERTAJAM, PULAU PINANG, MALAYSIA |
691009-02-5147 |
28/07/2008 |
23/03/2009 |
|
TEOH PAK ONG |
NO. 27 JALAN BAGAN 53, TAMAN BAGAN,
BUTTERWORTH, PULAU PINANG, MALAYSIA |
560130-09-5067 |
23/03/2009 |
08/02/2011 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
YAP TENG YOONG |
|
Position |
: |
GENERAL MANAGER |
|
AUDITOR
|
|
Auditor |
: |
SH YEOH & CO |
|
Auditor' Address |
: |
37, JALAN KELISA EMAS 1, TAMAN KELISA EMAS,
13700 PERAI, PULAU PINANG, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. LIM KIM TECK |
|
IC / PP No |
: |
5538757 |
|
|
New IC No |
: |
590613-07-5607 |
|
|
Address |
: |
8B-2-6, LEBUHRAYA THEAN TEIK, 11500 AYER
ITAM, PULAU PINANG, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. KONG SOWN KAEY |
|
IC / PP No |
: |
A2556365 |
|
|
New IC No |
: |
731205-07-5225 |
|
|
Address |
: |
121, JALAN BINJAI, TAMAN SRI RAMBAI, 14000
BUKIT MERTAJAM, PULAU PINANG, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
28/10/2009 |
ALL MONIES FACILITIES AGREEMENT AND DEED OF
ASSIGNMENT |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
2 |
28/10/2009 |
DEBENTURE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
3 |
07/11/2012 |
FACILITIES AGREEMENT & EXISTING REGISTERED
OPEN ALL MONIES FIRST PARTY LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
|
4 |
23/01/2015 |
FACILITIES AGREEMENT & EXISTING
REGISTERED OPEN ALL MONIES FIRST PARTY LEGAL CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
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.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors that
have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
60 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and trading
in all kinds and types of industrial paint, automotive coating and related
chemicals.
The Subject refused to disclose its operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
04-5013678 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
1024 LENGKOK PERINDUSTRIAN BKT MINYAK 2 KWS
PERINDUSTRIAN BKT MINYAK 14100 SIMPANG AMPAT PENANG |
|
Current Address |
: |
1024, LENGKOK PERINDUSTRIAN BUKIT MINYAK 2,
KAWASAN PERINDUSTRIAN BUKIT MINYAK,, 14100 SIMPANG AMPAT, PULAU PINANG,
MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
31.33% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
50.66% |
] |
|
|
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. Generally the Subject was
profitable. The favourable return on shareholders' funds and return on net
assets indicate that the Subject's management was efficient in utilising the
assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
50 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
101 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
86 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing
its holding cost. This had reduced funds being tied up in stocks. The
Subject's debtors ratio was high. The Subject should tighten its credit
control and improve its collection period. 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 |
[ |
0.70 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.95 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 |
: |
Acceptable |
[ |
6.71 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.34 Times |
] |
|
|
The Subject's interest cover was slightly
low. If there is no sharp fall in its profit or sudden increase in the
interest rates, we believe the Subject is able to generate sufficient income to
service its interest and repay the loans. 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 : |
||||||
|
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. 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 had an acceptable interest cover. If
there is no sudden sharp increase in interest rate or fall in the Subject's
profit, we do believe the Subject is able to generate sufficient cash flow to
service its interest payment. 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
: 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 |
|
|
20221 : Manufacture of paints, varnishes
and similar coatings ink and mastics |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is forecast to
increase 5.3% in year 2018 (2017: 5.5%). Output of export-oriented industries
is projected to expand on account of sustained demand for E&E, refined
petroleum and woods products. Growth in the domestic-oriented industries is
anticipated to remain resilient supported by ongoing construction of
infrastructure projects as well as strong demand for consumer products,
especially food and transport equipment. |
|
|
Value added of the manufacturing sector
expanded further by 5.8% during the first half of 2017 (January – June 2016:
4.4%) with expansion across a wide range of outputs in both the export- and
domestic-oriented industries. During the first eight months, production
increased 6.4%, while sales rebounded significantly by 15.6% to RM500.2
billion (January – August 2016: 4%; -0.7%; RM432.8 billion). Output of
export-oriented industries rose 6.5% (January – August 2016: 4.3%) led by an
upturn in global electronics cycle and further enhanced by strong demand for
resource-based products. Meanwhile, domestic-oriented industries expanded
6.2% (January – August 2016: 3.4%) benefiting from vibrant consumption and
construction activities. |
|
|
Within the export-oriented industries,
E&E output expanded 9.3% while sales surged 16.3% to RM169.5 billion
(January – August 2016: 6.8%; 9%; RM145.8 billion). Growth emanated mainly
from the expansion in output of printed circuit boards, semiconductor devices
and electronic integrated circuits which strengthened further by 24.4%, 11.9%
and 16.9% (January – August 2016: 11.9%; 5.9%; 15%), respectively. This is in
line with the trend in global semiconductor sales which is expected to expand
11.5% in 2017, the highest level since 2010. On the contrary, the output of
computers and peripheral equipment contracted 7.7% (January – August 2016:
3.1%) as a result of lower demand for notebooks and personal computers
following rising preferences for smartphones and tablets. Meanwhile, consumer
electronics grew at a moderate pace of 2.6% (January – August 2016: 5.3%)
partly due to lower demand for in-car entertainment, portable media players
and digital cameras. |
|
|
Output of wood and wood products grew 7.3% (January
– August 2016: 7.8%). The growth was primarily supported by output of
sawmilling and planning of wood which expanded 14.7% (January – August 2016:
16.8%) in response to strong demand from Australia, Japan and the US.
Meanwhile, production of wooden and cane furniture remained steady at 10.9%
(January – August 2016: 10.9%), benefiting from greater adoption of
technology and diversification of export markets. |
|
|
Manufacture of food products rose 11.2%,
largely attributed to a significant increase in refined palm oil at 26.1%
(January – August 2016: 6.3%; -3.3%), following higher production of CPO.
Meanwhile, output of other food products grew 7% supported by production of
bread, cakes and other bakery (15.6%) as well as biscuits and cookies (12%)
to meet the rising demand from households (January – August 2016: 11.1%;
19.2%; 19.1%). |
|
|
For the year, the manufacturing sector is
projected to expand further by 5.5% (2016: 4.4%) mainly attributed to an upturn
in global semiconductor sales as well as higher demand for consumer products
and construction materials. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
ALPS COATING SDN. BHD. |
|
Financial Year End |
2016-09-30 |
2015-09-30 |
2014-09-30 |
2013-09-30 |
2012-09-30 |
|
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 |
14,947,948 |
13,181,854 |
10,785,548 |
8,772,044 |
9,726,707 |
|
Other Income |
54,737 |
370,643 |
54,142 |
58,704 |
8,030 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
15,002,685 |
13,552,497 |
10,839,690 |
8,830,748 |
9,734,737 |
|
Costs of Goods Sold |
(9,910,349) |
(9,360,996) |
(8,432,742) |
(6,951,382) |
(7,633,080) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
5,092,336 |
4,191,501 |
2,406,948 |
1,879,366 |
2,101,657 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,350,549 |
1,479,322 |
399,454 |
54,669 |
112,118 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,350,549 |
1,479,322 |
399,454 |
54,669 |
112,118 |
|
Taxation |
(368,991) |
(234,466) |
(85,033) |
(28,025) |
(34,037) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
981,558 |
1,244,856 |
314,421 |
26,644 |
78,081 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,851,598 |
706,742 |
492,321 |
465,677 |
387,596 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,851,598 |
706,742 |
492,321 |
465,677 |
387,596 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,833,156 |
1,951,598 |
806,742 |
492,321 |
465,677 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(200,000) |
(100,000) |
(100,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,633,156 |
1,851,598 |
706,742 |
492,321 |
465,677 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
236,587 |
291,960 |
260,314 |
289,916 |
307,394 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
236,587 |
291,960 |
260,314 |
289,916 |
307,394 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
544,492 |
542,975 |
462,228 |
451,530 |
429,810 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
544,492 |
542,975 |
462,228 |
451,530 |
429,810 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
ALPS COATING SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
6,169,973 |
6,350,077 |
6,263,501 |
6,375,077 |
6,563,891 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Investments |
5,669 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
5,669 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
6,175,642 |
6,350,077 |
6,263,501 |
6,375,077 |
6,563,891 |
|
CURRENT ASSETS |
|||||
|
Stocks |
1,715,402 |
1,602,836 |
1,156,909 |
1,136,789 |
1,487,989 |
|
Contract work-in-progress |
328,942 |
375,542 |
304,410 |
316,242 |
373,203 |
|
Trade debtors |
4,139,414 |
3,503,684 |
2,755,875 |
2,639,374 |
2,899,934 |
|
Other debtors, deposits & prepayments |
159,475 |
170,804 |
116,411 |
111,259 |
117,617 |
|
Cash & bank balances |
269,006 |
360,562 |
459,532 |
385,568 |
392,613 |
|
Others |
- |
74,832 |
35,100 |
8,800 |
8,800 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,612,239 |
6,088,260 |
4,828,237 |
4,598,032 |
5,280,156 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
12,787,881 |
12,438,337 |
11,091,738 |
10,973,109 |
11,844,047 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
2,332,372 |
2,469,225 |
1,762,453 |
1,499,005 |
1,891,700 |
|
Other creditors & accruals |
1,081,350 |
576,409 |
511,065 |
337,627 |
424,912 |
|
Hire purchase & lease creditors |
149,508 |
116,889 |
139,302 |
216,866 |
230,671 |
|
Bank overdraft |
464,727 |
1,065,251 |
2,670,057 |
2,342,125 |
3,350,945 |
|
Short term borrowings/Term loans |
69,568 |
63,608 |
60,379 |
62,502 |
57,994 |
|
Other borrowings |
1,111,000 |
1,700,000 |
700,000 |
700,000 |
- |
|
Amounts owing to director |
1,660,874 |
1,350,874 |
1,450,874 |
2,250,804 |
2,250,804 |
|
Provision for taxation |
92,837 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
6,962,236 |
7,342,256 |
7,294,130 |
7,408,929 |
8,207,026 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(349,997) |
(1,253,996) |
(2,465,893) |
(2,810,897) |
(2,926,870) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
1,927,588 |
1,996,424 |
2,060,010 |
2,120,197 |
2,213,092 |
|
Hire purchase creditors |
477,901 |
463,059 |
304,856 |
261,662 |
296,252 |
|
Deferred taxation |
287,000 |
285,000 |
226,000 |
190,000 |
162,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,692,489 |
2,744,483 |
2,590,866 |
2,571,859 |
2,671,344 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,133,156 |
2,351,598 |
1,206,742 |
992,321 |
965,677 |
|
============= |
============= |
============= |
============= |
============= |
|
|
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 |
2,633,156 |
1,851,598 |
706,742 |
492,321 |
465,677 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,633,156 |
1,851,598 |
706,742 |
492,321 |
465,677 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,133,156 |
2,351,598 |
1,206,742 |
992,321 |
965,677 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
ALPS COATING SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
269,006 |
360,562 |
459,532 |
385,568 |
392,613 |
|
Net Liquid Funds |
(195,721) |
(704,689) |
(2,210,525) |
(1,956,557) |
(2,958,332) |
|
Net Liquid Assets |
(2,065,399) |
(2,856,832) |
(3,622,802) |
(3,947,686) |
(4,414,859) |
|
Net Current Assets/(Liabilities) |
(349,997) |
(1,253,996) |
(2,465,893) |
(2,810,897) |
(2,926,870) |
|
Net Tangible Assets |
3,133,156 |
2,351,598 |
1,206,742 |
992,321 |
965,677 |
|
Net Monetary Assets |
(4,757,888) |
(5,601,315) |
(6,213,668) |
(6,519,545) |
(7,086,203) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
1,587,136 |
1,771,282 |
659,768 |
344,585 |
419,512 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
2,131,628 |
2,314,257 |
1,121,996 |
796,115 |
849,322 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
4,200,292 |
5,405,231 |
5,934,604 |
5,703,352 |
6,148,954 |
|
Total Liabilities |
9,654,725 |
10,086,739 |
9,884,996 |
9,980,788 |
10,878,370 |
|
Total Assets |
12,787,881 |
12,438,337 |
11,091,738 |
10,973,109 |
11,844,047 |
|
Net Assets |
3,133,156 |
2,351,598 |
1,206,742 |
992,321 |
965,677 |
|
Net Assets Backing |
3,133,156 |
2,351,598 |
1,206,742 |
992,321 |
965,677 |
|
Shareholders' Funds |
3,133,156 |
2,351,598 |
1,206,742 |
992,321 |
965,677 |
|
Total Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total Reserves |
2,633,156 |
1,851,598 |
706,742 |
492,321 |
465,677 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
13.40 |
22.22 |
22.95 |
(9.81) |
0.30 |
|
Proft/(Loss) Before Tax |
(8.70) |
270.34 |
630.68 |
(51.24) |
(22.93) |
|
Proft/(Loss) After Tax |
(21.15) |
295.92 |
1,080.08 |
(65.88) |
(39.23) |
|
Total Assets |
2.81 |
12.14 |
1.08 |
(7.35) |
5.86 |
|
Total Liabilities |
(4.28) |
2.04 |
(0.96) |
(8.25) |
5.60 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.04 |
0.05 |
0.06 |
0.05 |
0.05 |
|
Liquid Ratio |
0.70 |
0.61 |
0.50 |
0.47 |
0.46 |
|
Current Ratio |
0.95 |
0.83 |
0.66 |
0.62 |
0.64 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
50 |
55 |
49 |
60 |
70 |
|
Debtors Ratio |
101 |
97 |
93 |
110 |
109 |
|
Creditors Ratio |
86 |
96 |
76 |
79 |
90 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.34 |
2.30 |
4.92 |
5.75 |
6.37 |
|
Liabilities Ratio |
3.08 |
4.29 |
8.19 |
10.06 |
11.27 |
|
Times Interest Earned Ratio |
6.71 |
6.07 |
2.53 |
1.19 |
1.36 |
|
Assets Backing Ratio |
6.27 |
4.70 |
2.41 |
1.98 |
1.93 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
9.04 |
11.22 |
3.70 |
0.62 |
1.15 |
|
Net Profit Margin |
6.57 |
9.44 |
2.92 |
0.30 |
0.80 |
|
Return On Net Assets |
50.66 |
75.32 |
54.67 |
34.73 |
43.44 |
|
Return On Capital Employed |
24.65 |
28.21 |
9.99 |
5.63 |
5.81 |
|
Return On Shareholders' Funds/Equity |
31.33 |
52.94 |
26.06 |
2.69 |
8.09 |
|
Dividend Pay Out Ratio (Times) |
0.20 |
0.08 |
0.32 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.69 |
|
|
1 |
INR 90.35 |
|
Euro |
1 |
INR 79.21 |
|
MYR |
1 |
INR 16.25 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.