|
|
|
MIRA INFORM REPORT
|
Report No. : |
489394 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PETRONAS
CHEMICALS MARKETING SDN. BHD. |
|
|
|
|
Formerly Known As : |
MALAYSIAN INTERNATIONAL TRADING CORPORATION
SDN. BHD. (30/05/2011) |
|
|
|
|
Registered Office : |
Tower 1, Petronas Twin Towers, Kuala Lumpur
City Centre, 50088 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
28.01.1982 |
|
|
|
|
Com. Reg. No.: |
80474-V |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of petrochemical, plastic raw materials and others. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
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. |
: |
80474-V |
||||
|
GST NO. |
: |
001455620096 |
||||
|
COMPANY NAME |
: |
PETRONAS CHEMICALS MARKETING SDN. BHD. |
||||
|
FORMER NAME |
: |
MALAYSIAN INTERNATIONAL TRADING CORPORATION
SDN. BHD. (30/05/2011) |
||||
|
INCORPORATION DATE |
: |
28/01/1982 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
TOWER 1, PETRONAS TWIN TOWERS, KUALA LUMPUR
CITY CENTRE, 50088 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LEVEL 15, TOWER 1, PETRONAS TWIN TOWERS,
KUALA LUMPUR CITY CENTRE, 50088 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-23315000 |
||||
|
FAX.NO. |
: |
03-23313074 |
||||
|
WEB SITE |
: |
WWW.PETRONASCHEMICALS.COM |
||||
|
CONTACT PERSON |
: |
SAZALI BIN HAMZAH ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46691 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PETROCHEMICAL, PLASTIC RAW
MATERIALS AND OTHERS |
||||
|
AUTHORISED CAPITAL |
: |
MYR
200,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR
12,500,005.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 6,570,744,000 [2016] |
||||
|
NET WORTH |
: |
MYR 228,553,000 [2016] |
||||
|
M1000 OVERALL RANKING |
: |
42[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
8[2011] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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 petrochemical, plastic raw materials and others.
The subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication,
the Subject's ranking are as follows: |
|
||||
|
|||||
|
YEAR |
2011 |
2009 |
2008 |
2005 |
|
|
OVERALL RANKING |
42 |
29 |
24 |
35 |
|
|
INDUSTRY RANKING |
8 |
8 |
9 |
8 |
|
The immediate holding company of the Subject
is PETRONAS CHEMICALS GROUP BERHAD, a company incorporated in MALAYSIA.
The ultimate holding company of the Subject is
PETROLIAM NASIONAL BERHAD (PETRONAS), a company incorporated in MALAYSIA.
Former Address(es)
|
Address |
As At Date |
|
9TH FLOOR, HONGKONG BANK BUILDING, 2, LEBOH
AMPANG, KUALA LUMPUR |
15/12/1982 |
|
50, JALAN AMPANG, KUALA LUMPUR |
27/01/1982 |
|
11TH FLOOR, PLAZA PEKELILING, JALAN TUN
RAZAK, KUALA LUMPUR |
31/01/1985 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
08/04/2014 |
MYR 200,000,000.00 |
MYR 12,500,005.00 |
|
17/03/2009 |
MYR 200,000,000.00 |
MYR 48,900,005.00 |
|
13/04/2004 |
MYR 200,000,000.00 |
MYR 16,740,005.00 |
|
27/04/1997 |
MYR 100,000,000.00 |
MYR 12,500,005.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PETRONAS CHEMICALS GROUP BERHAD |
TOWER 1, PETRONAS TWIN TOWERS, KUALA LUMPUR
CITY CENTRE, 50088 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
459830K |
12,500,005.00 |
100.00 |
|
--------------- |
------ |
|||
|
12,500,005.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
PETROLIAM NASIONAL BERHAD (PETRONAS) |
MALAYSIA |
20076K |
12,500,005.00 |
N/A |
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
CHINA |
PCM (CHINA) CO. LTD. |
- |
100.00 |
31/12/2016 |
|
|
THAILAND |
PCM (THAILAND) CO. LTD. |
- |
99.99 |
31/12/2016 |
|
|
MALAYSIA |
PETRONAS CHEMICALS MARKETING (LABUAN) LTD. |
- |
100.00 |
31/12/2016 |
|
|
INDONESIA |
PT PCM KIMIA INDONESIA |
- |
99.99 |
31/12/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SAZALI BIN HAMZAH |
|
Address |
: |
80, JALAN SERI PUTRA 9/4, BANDAR SERI
PUTRA, 43000 KAJANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
660501-01-5491 |
|
Date of Birth |
: |
01/05/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/05/2014 |
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 |
65199P |
ASEAN BINTULU FERTILIZER SDN. BHD. |
Director |
21/05/2014 |
0.00 |
- |
MYR18,113,000.00 |
2016 |
- |
25/01/2018 |
|
2 |
451307K |
BASF PETRONAS CHEMICALS SDN. BHD. |
Director |
19/05/2014 |
0.00 |
- |
MYR(177,192,000.00) |
2016 |
- |
25/01/2018 |
|
3 |
426308W |
KERTIH TERMINALS SDN. BHD. |
Director |
30/05/2014 |
0.00 |
- |
MYR105,163,044.00 |
2016 |
- |
25/01/2018 |
|
4 |
366646U |
PETRONAS CHEMICALS AROMATICS SDN. BHD. |
Director |
22/05/2014 |
0.00 |
- |
MYR133,614,000.00 |
2016 |
- |
25/01/2018 |
|
5 |
220663X |
PETRONAS CHEMICALS ETHYLENE SDN. BHD. |
Director |
26/05/2014 |
0.00 |
- |
MYR668,107,000.00 |
2016 |
- |
25/01/2018 |
|
6 |
373332H |
PETRONAS CHEMICALS FERTILISER SABAH SDN.
BHD. |
Director |
26/05/2014 |
0.00 |
- |
MYR(20,739.00) |
2016 |
- |
25/01/2018 |
|
7 |
1128858A |
PETRONAS CHEMICALS ISONONANOL SDN. BHD. |
Director |
17/05/2016 |
0.00 |
- |
MYR135,000.00 |
2016 |
- |
25/01/2018 |
|
8 |
478535T |
PETRONAS CHEMICALS LDPE SDN. BHD. |
Director |
26/05/2014 |
0.00 |
- |
MYR(28,326,538.00) |
2016 |
- |
25/01/2018 |
|
9 |
80474V |
PETRONAS CHEMICALS MARKETING SDN. BHD. |
Director |
26/05/2014 |
0.00 |
- |
MYR322,377,000.00 |
2016 |
- |
25/01/2018 |
|
10 |
466583K |
PETRONAS CHEMICALS OLEFINS SDN. BHD. |
Director |
26/05/2014 |
0.00 |
- |
MYR1,428,734,800.00 |
2016 |
- |
25/01/2018 |
|
11 |
220664W |
PETRONAS CHEMICALS POLYETHYLENE SDN. BHD. |
Director |
26/05/2014 |
0.00 |
- |
MYR13,777,000.00 |
2016 |
- |
25/01/2018 |
|
12 |
1047009X |
PETRONAS REFINERY AND PETROCHEMICAL
CORPORATION SDN. BHD. |
Director |
13/06/2014 |
0.00 |
- |
MYR(94,641.00) |
2013 |
- |
25/01/2018 |
|
13 |
253426V |
PETRONAS RESEARCH SDN. BHD. |
Director |
31/10/2017 |
0.00 |
- |
MYR3,091,651.00 |
2016 |
- |
25/01/2018 |
|
14 |
453077A |
PETRONAS TECHNOLOGY VENTURES SDN. BHD. |
Shareholder |
- |
15,850.00 |
0.60 |
MYR5,793,694.00 |
2016 |
- |
25/01/2018 |
|
15 |
1128893P |
PRPC ELASTOMERS SDN. BHD. |
Director |
17/05/2016 |
0.00 |
- |
- |
- |
- |
25/01/2018 |
|
16 |
1128864H |
PRPC POLYMERS SDN. BHD. |
Director |
17/05/2016 |
0.00 |
- |
MYR(56,938,000.00) |
2016 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
270308D |
GAS DISTRICT COOLING (M) SDN. BHD. |
Director |
19/10/2010 |
05/11/2012 |
- |
- |
|
2 |
216424U |
MALAYSIAN REFINING COMPANY SDN. BHD. |
Director |
01/01/2012 |
29/05/2014 |
- |
- |
|
3 |
164522V |
PETRONAS PENAPISAN (MELAKA) SDN. BHD. |
Director |
01/01/2012 |
19/05/2014 |
- |
- |
|
4 |
347848X |
PETRONAS TECHNICAL SERVICES SDN. BHD. |
Director |
01/03/2011 |
01/02/2012 |
- |
- |
|
5 |
258505H |
PRIMESOURCING INTERNATIONAL SDN. BHD. |
Director |
15/03/2011 |
30/11/2012 |
- |
- |
|
6 |
1058557T |
PRPC REFINERY AND CRACKER SDN. BHD. |
Director |
16/10/2013 |
24/06/2014 |
- |
- |
|
7 |
270386V |
SUNGAI UDANG PORT SDN. BHD. |
Director |
17/10/2013 |
02/06/2014 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MS. RASHIDAH BINTI ALIAS @ AHMAD |
|
Address |
: |
NO.1, JALAN BU 1/4, TAMAN BUKTI UTAMA,
BUKIT ANTARABANGSA, 68000 AMPANG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
720624-05-5356 |
|
Date of Birth |
: |
24/06/1972 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/01/2016 |
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 |
65199P |
ASEAN BINTULU FERTILIZER SDN. BHD. |
Director |
31/12/2015 |
0.00 |
- |
MYR18,113,000.00 |
2016 |
- |
25/01/2018 |
|
2 |
426308W |
KERTIH TERMINALS SDN. BHD. |
Director |
03/02/2016 |
0.00 |
- |
MYR105,163,044.00 |
2016 |
- |
25/01/2018 |
|
3 |
210373H |
MIDCITI RESOURCES SDN. BHD. |
Director |
21/07/2009 |
0.00 |
- |
MYR15,361.00 |
2016 |
- |
25/01/2018 |
|
4 |
1042868A |
MIDCITI SUKUK BERHAD |
Director |
17/04/2013 |
0.00 |
- |
MYR(19.00) |
2016 |
- |
25/01/2018 |
|
5 |
366646U |
PETRONAS CHEMICALS AROMATICS SDN. BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR133,614,000.00 |
2016 |
- |
25/01/2018 |
|
6 |
466586D |
PETRONAS CHEMICALS DERIVATIVES SDN. BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR(163,786,362.00) |
2016 |
- |
25/01/2018 |
|
7 |
373332H |
PETRONAS CHEMICALS FERTILISER SABAH SDN.
BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR(20,739.00) |
2016 |
- |
25/01/2018 |
|
8 |
466592M |
PETRONAS CHEMICALS GLYCOLS SDN. BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR6,608,011.00 |
2014 |
- |
25/01/2018 |
|
9 |
80474V |
PETRONAS CHEMICALS MARKETING SDN. BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR322,377,000.00 |
2016 |
- |
25/01/2018 |
|
10 |
466583K |
PETRONAS CHEMICALS OLEFINS SDN. BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR1,428,734,800.00 |
2016 |
- |
25/01/2018 |
|
11 |
485509D |
PETRONAS LUBRICANTS INTERNATIONAL SDN. BHD. |
Director |
15/07/2010 |
0.00 |
- |
MYR49,790,000.00 |
2011 |
- |
25/01/2018 |
|
12 |
1058559W |
PRPC UTILITIES AND FACILITIES SDN. BHD. |
Director |
29/01/2016 |
0.00 |
- |
MYR(46,891,000.00) |
2016 |
- |
25/01/2018 |
|
13 |
270713V |
VINYL CHLORIDE (MALAYSIA) SDN. BHD. |
Director |
02/01/2016 |
0.00 |
- |
MYR47,170,060.00 |
2016 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
448334P |
BP PETRONAS ACETYLS SDN. BHD. |
Director |
31/12/2015 |
13/02/2017 |
- |
- |
|
2 |
220663X |
PETRONAS CHEMICALS ETHYLENE SDN. BHD. |
Director |
02/01/2016 |
01/11/2016 |
- |
- |
|
3 |
459830K |
PETRONAS CHEMICALS GROUP BERHAD |
Director |
15/09/2011 |
31/07/2015 |
- |
- |
|
4 |
478535T |
PETRONAS CHEMICALS LDPE SDN. BHD. |
Director |
02/01/2016 |
01/11/2016 |
- |
- |
|
5 |
236696H |
PETRONAS CHEMICALS METHANOL SDN. BHD. |
Director |
05/05/2008 |
17/10/2011 |
- |
- |
|
6 |
259799X |
PETRONAS ELEARNING SOLUTIONS SDN. BHD. |
Director |
01/08/2005 |
20/11/2015 |
- |
- |
|
7 |
236574K |
PETRONAS MANAGEMENT TRAINING SDN. BHD. |
Director |
15/07/2011 |
20/11/2015 |
- |
- |
|
8 |
164522V |
PETRONAS PENAPISAN (MELAKA) SDN. BHD. |
Director |
29/04/2009 |
21/07/2010 |
- |
- |
|
9 |
347848X |
PETRONAS TECHNICAL SERVICES SDN. BHD. |
Director |
16/08/2011 |
28/10/2015 |
- |
- |
|
10 |
96957T |
PETRONAS TRADING CORPORATION SENDIRIAN
BERHAD |
Director |
30/06/2015 |
02/12/2016 |
- |
- |
DIRECTOR 3
|
Name Of Subject |
: |
MR. SHAMSAIRI BIN MOHD IBRAHIM |
|
Address |
: |
22A, JALAN MUTIARA 5, MUTIARA GOMBAK 2,
BATU 7, GOMBAK, 53100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A0328244 |
|
New IC No |
: |
660115-10-6053 |
|
Date of Birth |
: |
15/01/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
07/11/2017 |
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 |
426308W |
KERTIH TERMINALS SDN. BHD. |
Director |
07/11/2017 |
0.00 |
- |
MYR105,163,044.00 |
2016 |
- |
25/01/2018 |
|
2 |
454245A |
PETRONAS CHEMICALS AMMONIA SDN. BHD. |
Director |
07/11/2017 |
0.00 |
- |
MYR63,482,244.00 |
2016 |
- |
25/01/2018 |
|
3 |
366646U |
PETRONAS CHEMICALS AROMATICS SDN. BHD. |
Director |
07/11/2017 |
0.00 |
- |
MYR133,614,000.00 |
2016 |
- |
25/01/2018 |
|
4 |
466586D |
PETRONAS CHEMICALS DERIVATIVES SDN. BHD. |
Director |
01/11/2016 |
0.00 |
- |
MYR(163,786,362.00) |
2016 |
- |
25/01/2018 |
|
5 |
466592M |
PETRONAS CHEMICALS GLYCOLS SDN. BHD. |
Director |
01/11/2016 |
0.00 |
- |
MYR6,608,011.00 |
2014 |
- |
25/01/2018 |
|
6 |
80474V |
PETRONAS CHEMICALS MARKETING SDN. BHD. |
Director |
07/11/2017 |
0.00 |
- |
MYR322,377,000.00 |
2016 |
- |
25/01/2018 |
|
7 |
466583K |
PETRONAS CHEMICALS OLEFINS SDN. BHD. |
Director |
01/11/2016 |
0.00 |
- |
MYR1,428,734,800.00 |
2016 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
82699T |
CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA |
Director |
04/04/2011 |
12/06/2013 |
- |
- |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
WAN ZULKIFLEE BIN WAN ARIFFIN |
36, JALAN PUNCAK 1, THE PEAK, TAMAN TAR,
AMPANG, SELANGOR, MALAYSIA |
600819-07-5545 |
01/08/2005 |
27/04/2009 |
|
YEOW KIAN CHAI |
12D, JALAN DUNGUN, DAMANSARA HEIGHTS, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
500301-04-5247 |
05/09/2002 |
23/10/2007 |
|
YUSA' BIN HASSAN |
2 JALAN SUASA 7/1L, SEKSYEN 7, SHAH ALAM,
SELANGOR, MALAYSIA |
630318-01-5701 |
13/10/2011 |
30/01/2014 |
|
WAN SHAMILAH BINTI WAN MUHAMMAD SAIDI |
NO.17, BAYU TIMUR SERI PILMOOR, JALAN PJU 1A/1,
ARA DAMANSARA, PETALING JAYA, SELANGOR, MALAYSIA |
701117-03-5410 |
03/08/2010 |
30/01/2014 |
|
TENGKU MAHAMAD BIN TENGKU MAHAMUT |
NO 13 JALAN MEMANAH 13/55K, LAMAN SERI,
SEKSYEN 13, SHAH ALAM, SELANGOR, MALAYSIA |
541227-11-5227 |
23/09/1999 |
12/10/2011 |
|
TEY SAY HOWE |
NO. 58, JALAN BATAI, DAMANSARA HEIGHTS,
MALAYSIA, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
4794015 |
29/05/1995 |
15/07/1996 |
|
SHAMSUL AZHAR BIN ABBAS |
B-33-1 HAMPSHIRE RESIDENCES, NO. 2A PERSIARAN
HAMPSHIRE, OFF JALAN AMPANG, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
520507-10-5821 |
03/07/2000 |
01/10/2002 |
|
SHAMSUDIN BIN BASRI |
8 JALAN SETIA NUSANTARA U13/22C, SETIA
ECO-PARK, SETIA ALAM, SHAH ALAM, SELANGOR, MALAYSIA |
491029-10-5463 |
16/07/1991 |
10/01/1998 |
|
SAMSUDIN BIN MISKON |
DL 18 JALAN MUTIARA, TAMAN BUKIT AMPANG,
AMPANG, SELANGOR, MALAYSIA |
601110-01-5435 |
01/08/2005 |
12/10/2011 |
|
NURAINI BINTI ISMAIL |
Q6J TIARA DAMANSARA, 33,JALAN 17/1, PETALING
JAYA,SEL, PETALING JAYA, SELANGOR, MALAYSIA |
620910-03-5390 |
27/04/2009 |
12/10/2011 |
|
ROSLI BIN BONI |
23, JALAN TARUN 27/23, SEKSYEN 27, SHAH
ALAM, SELANGOR, MALAYSIA |
560506-04-5245 |
01/08/2005 |
27/04/2009 |
|
NIK FAIZANIRA BINTI NIK MOHAMED AFFANDI |
25,TMN.ZAABA, TMN.TUN DR.ISMAIL, K.LUMPUR,
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
740623-10-5858 |
03/08/2010 |
12/10/2011 |
|
MUHAMMAD SHAH BIN ALI |
NO.7, JALAN DUTA U1/12B, SAUJANA GLENHILL, SEKSYEN
U1, SHAH ALAM, SELANGOR, MALAYSIA |
610924-01-5893 |
02/02/2012 |
30/01/2014 |
|
MOHD SALEH BIN HASHIM |
LOT 5751,TMN BUKIT LELA, BATU 6 3/4,JALAN
GOMBAK, WILAYAH PERSEKUTUAN |
560117-08-5243 |
20/04/2006 |
03/08/2010 |
|
MOHD HASSAN BIN MARICANYBHG. |
NO.134,JALAN TERATAI, TMN UDA JAYA, AMPANG,
SELANGOR, MALAYSIA |
521018-02-5569 |
01/05/2000 |
10/02/2010 |
|
MOHD RASHID BIN MOHD YUSOF |
NO.13, JALAN MEMANAH 13/55A, LAMAN SERI,
SEKSYEN 13, SHAH ALAM, SELANGOR, MALAYSIA |
551216-10-5911 |
01/02/2006 |
20/04/2006 |
|
MOHD FARID BIN MOHD ADNAN |
75 TAMAN SERDANG, SETIAWAN, MANJUNG,PERAK |
620826-08-6267 |
13/10/2011 |
01/10/2013 |
|
MOHD ALI BIN YASIN HAJI |
440420-04-5387 |
23/09/1999 |
30/08/2001 |
|
|
HAMZAH BIN BAKAR |
14, JALAN BOLA LISUT 13/17, SHAH ALAM,
SELANGOR, MALAYSIA |
431007-07-5289 |
16/06/1994 |
17/04/2000 |
|
HARJIT SINGH A/L PURAN SINGH |
29, TAMAN GRANDVIEW, AMPANG JAYA,
BANGSAR,59100 K.L., AMPANG, SELANGOR, MALAYSIA |
590907-08-5771 |
08/12/1999 |
01/08/2005 |
|
ISHAK BIN IMAM ABAS |
451025085761 |
16/07/1991 |
01/08/2005 |
|
|
MOHAMED NOR BIN ABU BAKAR |
NO. 2, JALAN TEMBAGA 7/1P, SEKSYEN 7, SHAH
ALAM, SELANGOR, MALAYSIA |
500101-10-6375 |
23/09/1999 |
01/08/2005 |
|
MOHAMAD RAUFF BIN NABI BAX |
122 JALAN DATUK SULAIMAN 6, TAMAN TUN DR
ISMAIL, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
540307-08-5991 |
01/08/1996 |
01/12/1999 |
|
MANHARLAL A/L RATILAL |
NO. 14, JALAN U2/49, SAUJANA RESORT,
SEKSYEN U2, SHAH ALAM, SELANGOR, MALAYSIA |
590828-04-5907 |
01/08/2005 |
03/08/2010 |
|
MD ARIF BIN MAHMOOD |
4 JALAN DUTA U1/12A, GLENHILL SAUJANA, SHAH
ALAM, SELANGOR, MALAYSIA |
621119-01-5659 |
01/04/2009 |
12/10/2011 |
|
MD SOH BIN NINGGAL |
40 JALAN SUASANA 5/3A, BANDAR TUN HUSSEIN ONN,
BATU 9, CHERAS, SELANGOR, MALAYSIA |
510514-04-5231 |
01/04/2000 |
13/05/2006 |
|
MAHMAD ZAHRI BIN MAHZAN |
NO 19,, JALAN CEMPAKA, 27, TAMAN CEMPAKA,
AMPANG, SELANGOR, MALAYSIA |
630301-08-5279 |
03/08/2010 |
02/02/2012 |
|
KAMARUDIN BIN ZAKARIA |
LOT 4785 NO. 17 JALAN OZ 33, OZANA VILLAS,
BUKIT KATIL, MELAKA, MELAKA, MALAYSIA |
540602-03-5153 |
23/10/2007 |
12/10/2011 |
|
AHMAD HASANUDDIN BIN AHMAD |
PETRONAS PERDAGANGAN, TKT 21, M'NARA
DAYABUMI,JALAN S.H'MUDDIN |
460402065058 |
16/07/1991 |
26/05/1995 |
|
AKHBAR TAJUDIN BIN ABDUL WAHAB |
2672 JALAN PERMATA 23, TAMAN PERMATA,ULU
KLANG, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
530917-07-5169 |
15/10/1997 |
01/08/2005 |
|
ANUAR BIN AHMAD |
19 JALAN TIANG SERU U8/73D, BUKIT JELUTONG,
SHAH ALAM, SELANGOR, MALAYSIA |
540131-11-5279 |
01/10/2002 |
01/04/2009 |
|
ABD HAPIZ BIN ABDULLAH |
NO.24,JALAN SERUNAI 2, TAMAN KLANG JAYA,
KLANG, SELANGOR, MALAYSIA |
581007-10-6261 |
13/10/2011 |
26/05/2014 |
|
FARINA BINTI FARIKHULLAH KHAN |
NO. 27, JALAN ELITIS ARCA BELANTARA,
VALENCIA NORTH GOLF PRECINT, SUNGAI BULOH, SELANGOR, MALAYSIA |
720308-11-5230 |
29/01/2014 |
31/12/2015 |
|
AKBAR BIN MD THAYOOB |
23, JALAN USJ 6/2J, SUBANG JAYA, SELANGOR,
MALAYSIA |
630629-07-5613 |
29/01/2014 |
07/11/2017 |
|
ABDUL AZIZ BIN OTHMAN |
NO. 1, JALAN AU 1A/3F, TAMAN KERAMAT
PERMAI, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
650806-02-5253 |
29/01/2014 |
01/11/2016 |
|
ABDUL RAHIM BIN ABU BAKAR |
45, JALAN H13, PHASE 5, TAMAN MELAWATI, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
460104-07-5259 |
23/09/1999 |
31/08/2002 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SAZALI BIN HAMZAH |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG PLT (LLP0010081-LCA) |
|
Auditor' Address |
: |
LEVEL 10, KPMG TOWER,, 8 FIRST AVENUE,
BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. MEK YAM @ MARIAM BINTI HASSAN |
|
IC / PP No |
: |
A2742752 |
|
|
New IC No |
: |
740210-03-5388 |
|
|
Address |
: |
A-13A-17, D'PINES CONDOMINIUM, NO. 1, JALAN
PANDAN BERSIH, TAMAN NIRWANA, 68000 AMPANG, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
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 |
Percentage |
: |
40% |
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Import Countries |
: |
ASIA,EUROPE |
|||
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
PETROCHEMICALS, PLASTIC RAW MATERIALS AND
OTHERS |
|||||
|
Competitor(s) |
: |
BP ASIA PACIFIC
(MALAYSIA) SDN. BHD. |
|||||
|
Member(s) / Affiliate(s) |
: |
MALAYSIAN PLASTICS MANUFACTURERS
ASSOCIATION (MPMA) |
|||||
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
400 |
400 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of petrochemical,
plastic raw materials and others.
The Subject offers a wide range of products including:
1) Polymers
2) Polypropylene - PP is used to produce automotive parts, appliances,
film,fiber and filaments.
3) High Density Polyethylene - HDPE is used for blown film moulding, injection
moulding, film, pipe conduit, sheet, wire and cable. It is produced in pallet
form.
4) Linear Low Density Polyethylene - LLDPE is used for variety of derivatives
through film, extrusion coating, injection molding, rotational molding, using
octane and butanes co-polymers. It is produced in pallet form.
5) Polyvinyl Chloride - PVC is used in the production of pipe, flooring, wire
& cable, building construction, home furnishing, film & sheet and
automotive parts.It is produced in powder form.
6) Low Density Polyethylene - LDPE is used for injection moulding, film, pipe
conduit, wire and cable.
7) Chemicals - Basic & Intermediate Chemicals : Aromatics, Olefins,
Oxygenates, fertilisers and agrochemicals
8) Agricultural Products: Rice, Rubber, Palm Oil, Crude Coconut Oil and etc.
The Subject is a leading marketer of chemicals, fertilisers and polymer
products in the South East Asia region, PCM has global presence in over 30
countries.
The Subject is a subsidiary of PETRONAS'.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-23315000 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LEVEL 15, TOWER 1, PETRONAS TWIN TOWERS,
KUALA LUMPUR CITY CENTRE 50088 KULA LUMPUR |
|
Current Address |
: |
LEVEL 15, TOWER 1, PETRONAS TWIN TOWERS, KUALA
LUMPUR CITY CENTRE, 50088 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its number of employees.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
141.05% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
156.07% |
] |
|
|
The continuous fall in turnover could be due
to the lower demand for the Subject's products / services.The Subject's
management have been efficient in controlling its operating costs. 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 |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
32 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
2 Days |
] |
|
|
The favourable debtors' days could be due
to the good credit control measures implemented by the Subject. The Subject
had a favourable creditors' ratio where the Subject could be taking advantage
of the cash discounts and also wanting to maintain goodwill with its
creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.22 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.22 Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to
meet short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it
did not pay any interest during the year. The Subject had no gearing and
hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Due to the efficient control of its operating
costs, the Subject was able to remain profitable despite lower turnover
achieved during the year. The Subject was in good liquidity position with its
total current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. The Subject did not make any interest payment during the year.
The Subject was dependent on its shareholders' funds to finance its business
needs. The Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject
: STABLE |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population ( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.3 |
5.4 |
|
Domestic Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption ( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment ( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption ( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment ( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
Balance of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government Finance to GDP / Fiscal Deficit
( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation ( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net International Reserves ( MYR Billion ) |
417 |
390 |
391 |
- |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
4.00 |
3.50 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans (
% ) |
2.10 |
2.00 |
1.90 |
- |
- |
|
Average Base Lending Rate ( % ) |
6.85 |
6.79 |
6.81 |
6.73 |
- |
|
Business Loans Disbursed( % ) |
18.6 |
2.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
43,486.6 |
43,435.0 |
- |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
49,203 |
45,658 |
43,255 |
- |
- |
|
Registration of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
- |
- |
|
Liquidation of Companies ( No. ) |
11,099 |
7,066 |
- |
- |
- |
|
Liquidation of Companies ( % ) |
(19.5) |
(36.3) |
- |
- |
- |
|
Registration of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
- |
- |
|
Registration of New Business ( % ) |
1.0 |
9.0 |
3.0 |
- |
- |
|
Business Dissolved ( No. ) |
21,436 |
- |
- |
- |
- |
|
Business Dissolved ( % ) |
18.0 |
- |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit Cards Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
Individual Bankruptcy ( % ) |
1.7 |
(17.4) |
- |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Agriculture |
2.0 |
1.3 |
(5.1) |
5.6 |
2.4 |
|
Palm Oil |
6.7 |
7.0 |
(12.7) |
11.8 |
- |
|
Rubber |
(10.4) |
(11.0) |
(6.3) |
10.8 |
- |
|
Forestry & Logging |
(4.2) |
(7.2) |
(3.0) |
(15.0) |
- |
|
Fishing |
2.7 |
2.1 |
2.2 |
0.2 |
- |
|
Other Agriculture |
6.2 |
6.0 |
5.1 |
2.4 |
- |
|
Industry Non-Performing Loans ( MYR Million
) |
303.8 |
343.7 |
420.3 |
- |
- |
|
% of Industry Non-Performing Loans |
1.4 |
1.5 |
1.8 |
- |
- |
|
Mining |
3.3 |
5.3 |
2.2 |
0.5 |
0.9 |
|
Oil & Gas |
3.0 |
3.5 |
4.5 |
- |
- |
|
Other Mining |
46.6 |
47.1 |
42.6 |
- |
- |
|
Industry Non-performing Loans ( MYR Million
) |
63.5 |
180.1 |
190.0 |
- |
- |
|
% of Industry Non-performing Loans |
0.3 |
0.8 |
0.8 |
- |
- |
|
Manufacturing # |
6.1 |
4.9 |
4.4 |
5.5 |
5.3 |
|
Exported-oriented Industries |
7.1 |
6.5 |
4.3 |
6.5 |
- |
|
Electrical & Electronics |
11.8 |
9.2 |
6.8 |
9.3 |
- |
|
Rubber Products |
(1.3) |
5.1 |
5.0 |
6.9 |
- |
|
Wood Products |
7.8 |
7.0 |
7.8 |
7.3 |
- |
|
Textiles & Apparel |
10.8 |
7.5 |
7.5 |
7.4 |
- |
|
Domestic-oriented Industries |
7.7 |
4.7 |
3.4 |
6.2 |
- |
|
Food, Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
11.0 |
- |
|
Chemical & Chemical Products |
1.4 |
3.5 |
4.5 |
3.5 |
- |
|
Plastic Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron & Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated Metal Products |
2.8 |
4.6 |
5.6 |
4.6 |
- |
|
Non-metallic Mineral |
6.9 |
6.8 |
6.3 |
5.4 |
- |
|
Transport Equipment |
14.4 |
5.2 |
(3.1) |
4.7 |
- |
|
Paper & Paper Products |
4.7 |
3.2 |
5.4 |
5.8 |
- |
|
Crude Oil Refineries |
13.0 |
14.3 |
13.7 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million
) |
5,730.8 |
4,243.7 |
4,214.1 |
- |
- |
|
% of Industry Non-Performing Loans |
25.6 |
19.0 |
18.5 |
- |
- |
|
Construction |
11.7 |
8.2 |
7.4 |
7.6 |
7.5 |
|
Industry Non-Performing Loans ( MYR Million
) |
1,666.4 |
1,638.0 |
1,793.9 |
- |
- |
|
% of Industry Non-Performing Loans |
7.5 |
7.3 |
7.9 |
- |
- |
|
Services |
6.6 |
5.1 |
5.6 |
5.9 |
5.8 |
|
Electric, Gas & Water |
3.8 |
3.6 |
5.4 |
2.5 |
2.6 |
|
Transport, Storage & Communication |
7.70 |
7.55 |
6.85 |
7.35 |
7.30 |
|
Wholesale, Retail, Hotel & Restaurant |
7.70 |
6.65 |
6.65 |
7.05 |
6.65 |
|
Finance, Insurance & Real Estate |
5.15 |
2.90 |
4.70 |
5.70 |
5.90 |
|
Government Services |
6.3 |
4.0 |
4.9 |
4.4 |
4.5 |
|
Other Services |
4.8 |
4.7 |
4.8 |
5.3 |
5.3 |
|
Industry Non-Performing Loans ( MYR Million
) |
5,373.5 |
6,806.6 |
7,190.6 |
- |
- |
|
% of Industry Non-Performing Loans |
24.1 |
30.5 |
31.5 |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production
Index |
|||||
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
46691 : Wholesale of industrial chemicals |
|
|
INDUSTRY : |
TRADING |
|
Malaysia's retail sales will likely grow
3.7% in 2017, slower than previously estimated 3.9%, as consumer sentiment
remains weak amid rising cost of living in Southeast Asia's third largest
economy. |
|
|
The cut in forecast was the second of such revision
by Retail Group Malaysia, a retail consulting firm, from an initial target of
5% retail sales expansion pace in 2017. The estimate follows a survey of
members of Malaysia Retailers Association on their second quarter performance
and outlook for the year. Retail sales grew 1.7% in 2016. |
|
|
According to Retail Group Malaysia (RGM),
Malaysian retailers have seen the sales expanded 4.9 % from April to June
2017, reversing a dismal performance in first three months 2017. For the
first six months 2016, the retail sale growth rate was 2.5 %. However, the
businesses in the next three months are not optimistic, estimating an average
growth rate of 2.9 %. The department stores cum supermarket operators are
expecting to return to red with a contraction of 2.5 %. Similarly, the
department store operators expect their businesses to dip with a negative 1.5
%. |
|
|
The rise of purchasing power will continue
to fall behind the increase in prices of retail goods. More retail goods are expected
to raise prices because of higher fuel prices in recent months. |
|
|
The wholesale trade sub-sector index
increased 5.9 % to 165.9 points year-on-year (y-o-y) driven mainly by other
specialised wholesale (7.5 %), wholesale of agricultural raw materials and
livestock (7.3 %) and wholesale of machinery, equipment and supplies (6.2 %). |
|
|
Over 60% of Gross Domestic Product (GDP) is
contributed by domestic consumption. Therefore the wholesale and retail
sector plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
PETRONAS CHEMICALS MARKETING SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
6,570,744,000 |
6,887,099,000 |
9,820,317,000 |
11,677,581,000 |
12,135,677,000 |
|
Other Income |
249,598,000 |
149,633,000 |
55,732,000 |
50,852,000 |
12,296,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
6,820,342,000 |
7,036,732,000 |
9,876,049,000 |
11,728,433,000 |
12,147,973,000 |
|
Costs of Goods Sold |
(6,400,279,000) |
(6,720,447,000) |
(9,594,736,000) |
(11,439,198,000) |
(11,910,530,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
420,063,000 |
316,285,000 |
281,313,000 |
289,235,000 |
237,443,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
356,698,000 |
81,770,000 |
192,066,000 |
170,796,000 |
150,276,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
356,698,000 |
81,770,000 |
192,066,000 |
170,796,000 |
150,276,000 |
|
Taxation |
(34,321,000) |
689,000 |
(41,807,000) |
(36,614,000) |
(38,717,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
322,377,000 |
82,459,000 |
150,259,000 |
134,182,000 |
111,559,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
89,146,000 |
36,687,000 |
164,428,000 |
210,246,000 |
98,687,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
89,146,000 |
36,687,000 |
164,428,000 |
210,246,000 |
98,687,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
411,523,000 |
119,146,000 |
314,687,000 |
344,428,000 |
210,246,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(200,000,000) |
(30,000,000) |
(278,000,000) |
(180,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
211,523,000 |
89,146,000 |
36,687,000 |
164,428,000 |
210,246,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
874,000 |
896,000 |
162,000 |
47,000 |
76,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
874,000 |
896,000 |
162,000 |
47,000 |
76,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
PETRONAS CHEMICALS MARKETING SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,770,000 |
2,644,000 |
3,549,000 |
299,000 |
115,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
47,463,000 |
47,463,000 |
35,958,000 |
14,758,000 |
14,758,000 |
|
Deferred assets |
- |
1,062,000 |
- |
581,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
47,463,000 |
48,525,000 |
35,958,000 |
15,339,000 |
14,758,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
49,233,000 |
51,169,000 |
39,507,000 |
15,638,000 |
14,873,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
- |
- |
- |
- |
22,937,000 |
|
Trade debtors |
578,001,000 |
781,903,000 |
773,220,000 |
865,865,000 |
1,078,843,000 |
|
Other debtors, deposits & prepayments |
7,659,000 |
5,203,000 |
12,578,000 |
2,936,000 |
991,000 |
|
Short term deposits |
- |
- |
- |
- |
685,599,000 |
|
Amount due from holding company |
51,000 |
88,000 |
3,000 |
- |
- |
|
Amount due from subsidiary companies |
165,396,000 |
11,228,000 |
547,000 |
- |
- |
|
Amount due from related companies |
45,346,000 |
43,754,000 |
3,567,000 |
101,301,000 |
164,480,000 |
|
Amount due from associated companies |
- |
- |
- |
- |
1,496,000 |
|
Cash & bank balances |
200,646,000 |
86,447,000 |
277,592,000 |
513,024,000 |
7,904,000 |
|
Others |
- |
20,313,000 |
- |
- |
60,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
997,099,000 |
948,936,000 |
1,067,507,000 |
1,483,126,000 |
1,962,310,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,046,332,000 |
1,000,105,000 |
1,107,014,000 |
1,498,764,000 |
1,977,183,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
27,878,000 |
42,454,000 |
32,032,000 |
37,041,000 |
145,809,000 |
|
Other creditors & accruals |
11,828,000 |
13,869,000 |
1,019,000 |
2,691,000 |
4,359,000 |
|
Amounts owing to holding company |
1,266,000 |
42,310,000 |
61,569,000 |
37,034,000 |
7,876,000 |
|
Amounts owing to subsidiary companies |
10,905,000 |
46,405,000 |
20,538,000 |
- |
- |
|
Amounts owing to related companies |
747,815,000 |
745,492,000 |
917,666,000 |
1,223,027,000 |
1,571,444,000 |
|
Provision for taxation |
10,177,000 |
- |
5,517,000 |
7,835,000 |
19,229,000 |
|
Other liabilities |
7,035,000 |
3,399,000 |
14,291,000 |
9,678,000 |
1,127,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
816,904,000 |
893,929,000 |
1,052,632,000 |
1,317,306,000 |
1,749,844,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
180,195,000 |
55,007,000 |
14,875,000 |
165,820,000 |
212,466,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
875,000 |
- |
665,000 |
- |
63,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
875,000 |
- |
665,000 |
- |
63,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
228,553,000 |
106,176,000 |
53,717,000 |
181,458,000 |
227,276,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
12,500,000 |
12,500,000 |
12,500,000 |
12,500,000 |
12,500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
12,500,000 |
12,500,000 |
12,500,000 |
12,500,000 |
12,500,000 |
|
RESERVES |
|||||
|
Share premium |
290,000 |
290,000 |
290,000 |
290,000 |
290,000 |
|
Capital reserve |
4,240,000 |
4,240,000 |
4,240,000 |
4,240,000 |
4,240,000 |
|
Retained profit/(loss) carried forward |
211,523,000 |
89,146,000 |
36,687,000 |
164,428,000 |
210,246,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
216,053,000 |
93,676,000 |
41,217,000 |
168,958,000 |
214,776,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
228,553,000 |
106,176,000 |
53,717,000 |
181,458,000 |
227,276,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
PETRONAS CHEMICALS MARKETING SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
200,646,000 |
86,447,000 |
277,592,000 |
513,024,000 |
693,503,000 |
|
Net Liquid Funds |
200,646,000 |
86,447,000 |
277,592,000 |
513,024,000 |
693,503,000 |
|
Net Liquid Assets |
180,195,000 |
55,007,000 |
14,875,000 |
165,820,000 |
189,529,000 |
|
Net Current Assets/(Liabilities) |
180,195,000 |
55,007,000 |
14,875,000 |
165,820,000 |
212,466,000 |
|
Net Tangible Assets |
228,553,000 |
106,176,000 |
53,717,000 |
181,458,000 |
227,276,000 |
|
Net Monetary Assets |
179,320,000 |
55,007,000 |
14,210,000 |
165,820,000 |
189,466,000 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
356,698,000 |
81,770,000 |
192,066,000 |
170,796,000 |
150,276,000 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
357,572,000 |
82,666,000 |
192,228,000 |
170,843,000 |
150,352,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
817,779,000 |
893,929,000 |
1,053,297,000 |
1,317,306,000 |
1,749,907,000 |
|
Total Assets |
1,046,332,000 |
1,000,105,000 |
1,107,014,000 |
1,498,764,000 |
1,977,183,000 |
|
Net Assets |
228,553,000 |
106,176,000 |
53,717,000 |
181,458,000 |
227,276,000 |
|
Net Assets Backing |
228,553,000 |
106,176,000 |
53,717,000 |
181,458,000 |
227,276,000 |
|
Shareholders' Funds |
228,553,000 |
106,176,000 |
53,717,000 |
181,458,000 |
227,276,000 |
|
Total Share Capital |
12,500,000 |
12,500,000 |
12,500,000 |
12,500,000 |
12,500,000 |
|
Total Reserves |
216,053,000 |
93,676,000 |
41,217,000 |
168,958,000 |
214,776,000 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(4.59) |
(29.87) |
(15.90) |
(3.77) |
44.66 |
|
Proft/(Loss) Before Tax |
336.22 |
(57.43) |
12.45 |
13.65 |
40.90 |
|
Proft/(Loss) After Tax |
290.95 |
(45.12) |
11.98 |
20.28 |
37.71 |
|
Total Assets |
4.62 |
(9.66) |
(26.14) |
(24.20) |
34.56 |
|
Total Liabilities |
(8.52) |
(15.13) |
(20.04) |
(24.72) |
29.28 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.25 |
0.10 |
0.26 |
0.39 |
0.40 |
|
Liquid Ratio |
1.22 |
1.06 |
1.01 |
1.13 |
1.11 |
|
Current Ratio |
1.22 |
1.06 |
1.01 |
1.13 |
1.12 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
1 |
|
Debtors Ratio |
32 |
41 |
29 |
27 |
32 |
|
Creditors Ratio |
2 |
2 |
1 |
1 |
4 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
3.58 |
8.42 |
19.61 |
7.26 |
7.70 |
|
Times Interest Earned Ratio |
0 |
0 |
0 |
0 |
0 |
|
Assets Backing Ratio |
18.28 |
8.49 |
4.30 |
14.52 |
18.18 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
5.43 |
1.19 |
1.96 |
1.46 |
1.24 |
|
Net Profit Margin |
4.91 |
1.20 |
1.53 |
1.15 |
0.92 |
|
Return On Net Assets |
156.07 |
77.01 |
357.55 |
94.12 |
66.12 |
|
Return On Capital Employed |
155.47 |
77.01 |
353.18 |
94.12 |
66.10 |
|
Return On Shareholders' Funds/Equity |
141.05 |
77.66 |
279.72 |
73.95 |
49.09 |
|
Dividend Pay Out Ratio (Times) |
0.62 |
0.36 |
1.85 |
1.34 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.27 |
|
|
1 |
INR 89.72 |
|
Euro |
1 |
INR 79.52 |
|
MYR |
1 |
INR 16.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.