|
|
|
MIRA INFORM REPORT
|
Report No. : |
490091 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ENVOSHA SDN. BHD. |
|
|
|
|
Registered Office : |
7-8-3, 8th. Floor, Maytower, 7, Jalan Munshi
Abdullah, 50100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
12.08.2011 |
|
|
|
|
Com. Reg. No.: |
956934-P |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
environmental services, general lab analysis, chemical exposure monitoring
and local exhaust ventilation assessment. |
|
|
|
|
No. of Employees : |
10 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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. |
: |
956934-P |
||||
|
GST NO. |
: |
001545576448 |
||||
|
COMPANY NAME |
: |
ENVOSHA SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
12/08/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
7-8-3, 8TH. FLOOR, MAYTOWER, 7, JALAN
MUNSHI ABDULLAH, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
A10-7, CENTREPOINT BUSINESS PARK, JALAN TANJUNG
KERAMAT 26/35, SEKSYEN 26,, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51916306 |
||||
|
FAX.NO. |
: |
03-51036036 |
||||
|
WEB SITE |
: |
WWW.ENVOSHA.COM |
||||
|
CONTACT PERSON |
: |
HARI VICKNES A/L NADARAJAN ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
71102 |
||||
|
PRINCIPAL ACTIVITY |
: |
ENVIRONMENTAL SERVICES,GENERAL LAB
ANALYSIS, CHEMICAL EXPOSURE MONITORING AND LOCAL EXHAUST VENTILATION
ASSESSMENT |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 100,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 1,473,188 [2016] |
||||
|
NET WORTH |
: |
MYR 169,476 [2016] |
||||
|
STAFF STRENGTH |
: |
10 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
SLOW BUT CORRECT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) environmental services, general lab analysis, chemical exposure
monitoring and local exhaust ventilation assessment.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At Date |
|
NO. 98-1, JALAN PUTERI 5/1, BANDAR PUTERI,
47100, SELANGOR, MALAYSIA |
20/05/2013 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
22/07/2013 |
MYR 100,000.00 |
MYR 100,000.00 |
|
15/08/2011 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. HARI VICKNES A/L NADARAJAN + |
E-18-02, BLK E, DESA IMPIANA CONDOMINIUM,
JALAN PRIMA UTAMA 2, TAMAN PUCHONG PRIMA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
810920-07-5721 |
50,000.00 |
50.00 |
|
MS. SARUMATHY A/P RAJAN + |
E-18-02, DESA IMPIAN CONDO, JALAN PRIMA
UTAMA 2, PUCHONG PRIMA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
831026-01-6594 |
50,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
DHEEBAN A/L RUPADAS |
MALAYSIA |
850401-14-6547 |
1.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. HARI VICKNES A/L NADARAJAN |
|
Address |
: |
E-18-02, BLK E, DESA IMPIANA CONDOMINIUM,
JALAN PRIMA UTAMA 2, TAMAN PUCHONG PRIMA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
NO.9, JALAN PULAI 55, TAMAN PULAI UTAMA, 81300
SKUDAI, JOHOR, MALAYSIA. |
|
New IC No |
: |
810920-07-5721 |
|
Date of Birth |
: |
20/09/1981 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/07/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
|
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 |
956934P |
ENVOSHA SDN. BHD. |
Director |
22/07/2013 |
50,000.00 |
50.00 |
MYR(3,443.00) |
2016 |
- |
25/01/2018 |
|
2 |
1204229X |
SAMS DOG TRAINING SDN. BHD. |
Director |
06/10/2016 |
1.00 |
50.00 |
- |
- |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
002049872A |
BOOMTOWN CAR WASH |
PARTNERSHIP |
27/06/2011 |
25.00 |
- |
26/12/2017 |
|
2 |
SA0260141D |
ENVOCAR RESOURCES |
PARTNERSHIP |
15/05/2013 |
25.00 |
- |
26/12/2017 |
|
3 |
SA0263366M |
ENVOCLEAN RESOURCES |
PARTNERSHIP |
12/06/2013 |
25.00 |
- |
26/12/2017 |
|
4 |
SA0198894X |
HARI EXPERTISE SOLUTION |
SOLE PROPRIETORSHIP |
06/09/2011 |
100.00 |
- |
26/12/2017 |
|
5 |
SA0278453T |
MY MATTRESS CLEANING |
PARTNERSHIP |
18/11/2013 |
25.00 |
- |
26/12/2017 |
|
6 |
JM0350313M |
VISSAI ENTERTAINERS |
SOLE PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
26/12/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. SARUMATHY A/P RAJAN |
|
Address |
: |
E-18-02, DESA IMPIAN CONDO, JALAN PRIMA
UTAMA 2, PUCHONG PRIMA, 47100 PUCHONG, SELANGOR, MALAYSIA. |
|
New IC No |
: |
831026-01-6594 |
|
Date of Birth |
: |
26/10/1983 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/08/2011 |
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 |
956934P |
ENVOSHA SDN. BHD. |
Director |
12/08/2011 |
50,000.00 |
50.00 |
MYR(3,443.00) |
2016 |
- |
25/01/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
DHEEBAN A/L RUPADAS |
NO. 24, LORONG LAKSAMANA 10 A, TAMAN
SENTOSA, KLANG, SELANGOR, MALAYSIA |
850401-14-6547 |
12/08/2011 |
22/07/2013 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
HARI VICKNES A/L NADARAJAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
TCMK ASSOCIATED |
|
Auditor' Address |
: |
102C, 3RD FLOOR, BANGUNAN YAP SELANGOR,
JALAN TUN H.S. LEE, 50000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. SIVALINGAM A/L K.KARUPPIAH |
|
IC / PP No |
: |
A3942988 |
|
|
New IC No |
: |
770707-08-6583 |
|
|
Address |
: |
7-8-3, 8TH FLOOR, MAYTOWER, 7, JALAN MUNSHI
ABDULLAH, 50100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, 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 |
|
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 |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
ENVIRONMENTAL SERVICES,GENERAL LAB ANALYSIS,
CHEMICAL EXPOSURE MONITORING AND LOCAL EXHAUST VENTILATION ASSESSMENT |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
10 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) environmental
services, general lab analysis, chemical exposure monitoring and local exhaust
ventilation assessment.
The Subject's Environmental Services are as follows:
Stack Emission Monitoring
Air Quality Monitoring
Noise Monitoring
Vibration Monitoring
Water Quality Monitoring
Soil Testing Service
OSH Services
Chemical Health Risk Assessment
LEV Assessment
Indoor Air Quality Assessment
Ultrasonic Thickness Testing
Chemical Exposure Monitoring
Noise Exposure Monitoring
Environment Consultancy
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
60-3-51916306 |
|
Current Telephone Number |
: |
03-51916306 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
NO: A10-7, CENTERPOINT BUSINESS PARK, JALAN
TANJUNG KERAMAT 26/35 SEKSYEN 26, SHAH ALAM, 40000 DARUL EHSAN SELANGOR |
|
Current Address |
: |
A10-7, CENTREPOINT BUSINESS PARK, JALAN
TANJUNG KERAMAT 26/35, SEKSYEN 26,, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(2.03%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
5.83% |
] |
|
|
The Subject's turnover increased steadily as
the demand for its products / services increased due to the goodwill built up
over the years.The dip in profit could be due to the stiff market competition
which reduced the Subject's profit margin. The Subject's unfavourable returns
on shareholders' funds indicate the management's inefficiency in utilising
its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Unfavourable |
[ |
122 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
18 Days |
] |
|
|
The Subject's debtors ratio was high. The
Subject should tighten its credit control and improve its collection period.
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 |
[ |
1.27 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.27 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 |
: |
Unfavourable |
[ |
1.68 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.03 Times |
] |
|
|
The Subject's interest cover was low. If
its profits fall or when interest rate rises, it may not be able to
meet all its interest payment. 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. 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. If there is a fall in the Subject's profit or any
increase in interest rate, the Subject may not be able to generate sufficient
cash-flow to service its interest. The Subject's gearing level was high and
its going concern will be in doubt if there is no injection of additional
shareholders' funds in times of economic downturn and / or high interest
rates. |
||||||
|
Overall financial condition of the Subject
: POOR |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population ( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.3 |
5.4 |
|
Domestic Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption ( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment ( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption ( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment ( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
Balance of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government Finance to GDP / Fiscal Deficit
( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation ( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net International Reserves ( MYR Billion ) |
417 |
390 |
391 |
- |
- |
|
Average Risk-Weighted Capital Adequacy
Ratio ( % ) |
4.00 |
3.50 |
- |
- |
- |
|
Average 3 Months of Non-performing Loans (
% ) |
2.10 |
2.00 |
1.90 |
- |
- |
|
Average Base Lending Rate ( % ) |
6.85 |
6.79 |
6.81 |
6.73 |
- |
|
Business Loans Disbursed( % ) |
18.6 |
2.2 |
- |
- |
- |
|
Foreign Investment ( MYR Million ) |
43,486.6 |
43,435.0 |
- |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
49,203 |
45,658 |
43,255 |
- |
- |
|
Registration of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
- |
- |
|
Liquidation of Companies ( No. ) |
11,099 |
7,066 |
- |
- |
- |
|
Liquidation of Companies ( % ) |
(19.5) |
(36.3) |
- |
- |
- |
|
Registration of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
- |
- |
|
Registration of New Business ( % ) |
1.0 |
9.0 |
3.0 |
- |
- |
|
Business Dissolved ( No. ) |
21,436 |
- |
- |
- |
- |
|
Business Dissolved ( % ) |
18.0 |
- |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit Cards Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
Individual Bankruptcy ( % ) |
1.7 |
(17.4) |
- |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Agriculture |
2.0 |
1.3 |
(5.1) |
5.6 |
2.4 |
|
Palm Oil |
6.7 |
7.0 |
(12.7) |
11.8 |
- |
|
Rubber |
(10.4) |
(11.0) |
(6.3) |
10.8 |
- |
|
Forestry & Logging |
(4.2) |
(7.2) |
(3.0) |
(15.0) |
- |
|
Fishing |
2.7 |
2.1 |
2.2 |
0.2 |
- |
|
Other Agriculture |
6.2 |
6.0 |
5.1 |
2.4 |
- |
|
Industry Non-Performing Loans ( MYR Million
) |
303.8 |
343.7 |
420.3 |
- |
- |
|
% of Industry Non-Performing Loans |
1.4 |
1.5 |
1.8 |
- |
- |
|
Mining |
3.3 |
5.3 |
2.2 |
0.5 |
0.9 |
|
Oil & Gas |
3.0 |
3.5 |
4.5 |
- |
- |
|
Other Mining |
46.6 |
47.1 |
42.6 |
- |
- |
|
Industry Non-performing Loans ( MYR Million
) |
63.5 |
180.1 |
190.0 |
- |
- |
|
% of Industry Non-performing Loans |
0.3 |
0.8 |
0.8 |
- |
- |
|
Manufacturing # |
6.1 |
4.9 |
4.4 |
5.5 |
5.3 |
|
Exported-oriented Industries |
7.1 |
6.5 |
4.3 |
6.5 |
- |
|
Electrical & Electronics |
11.8 |
9.2 |
6.8 |
9.3 |
- |
|
Rubber Products |
(1.3) |
5.1 |
5.0 |
6.9 |
- |
|
Wood Products |
7.8 |
7.0 |
7.8 |
7.3 |
- |
|
Textiles & Apparel |
10.8 |
7.5 |
7.5 |
7.4 |
- |
|
Domestic-oriented Industries |
7.7 |
4.7 |
3.4 |
6.2 |
- |
|
Food, Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
11.0 |
- |
|
Chemical & Chemical Products |
1.4 |
3.5 |
4.5 |
3.5 |
- |
|
Plastic Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron & Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated Metal Products |
2.8 |
4.6 |
5.6 |
4.6 |
- |
|
Non-metallic Mineral |
6.9 |
6.8 |
6.3 |
5.4 |
- |
|
Transport Equipment |
14.4 |
5.2 |
(3.1) |
4.7 |
- |
|
Paper & Paper Products |
4.7 |
3.2 |
5.4 |
5.8 |
- |
|
Crude Oil Refineries |
13.0 |
14.3 |
13.7 |
- |
- |
|
Industry Non-Performing Loans ( MYR Million
) |
5,730.8 |
4,243.7 |
4,214.1 |
- |
- |
|
% of Industry Non-Performing Loans |
25.6 |
19.0 |
18.5 |
- |
- |
|
Construction |
11.7 |
8.2 |
7.4 |
7.6 |
7.5 |
|
Industry Non-Performing Loans ( MYR Million
) |
1,666.4 |
1,638.0 |
1,793.9 |
- |
- |
|
% of Industry Non-Performing Loans |
7.5 |
7.3 |
7.9 |
- |
- |
|
Services |
6.6 |
5.1 |
5.6 |
5.9 |
5.8 |
|
Electric, Gas & Water |
3.8 |
3.6 |
5.4 |
2.5 |
2.6 |
|
Transport, Storage & Communication |
7.70 |
7.55 |
6.85 |
7.35 |
7.30 |
|
Wholesale, Retail, Hotel & Restaurant |
7.70 |
6.65 |
6.65 |
7.05 |
6.65 |
|
Finance, Insurance & Real Estate |
5.15 |
2.90 |
4.70 |
5.70 |
5.90 |
|
Government Services |
6.3 |
4.0 |
4.9 |
4.4 |
4.5 |
|
Other Services |
4.8 |
4.7 |
4.8 |
5.3 |
5.3 |
|
Industry Non-Performing Loans ( MYR Million
) |
5,373.5 |
6,806.6 |
7,190.6 |
- |
- |
|
% of Industry Non-Performing Loans |
24.1 |
30.5 |
31.5 |
- |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production
Index |
|||||
INDUSTRY ANALYSIS
|
|
MSIC CODE |
|
|
71102 : Engineering services |
|
|
INDUSTRY : |
CONSTRUCTION |
|
The construction sector consists of four subsectors:
residential, non-residential, civil engineering and special trade works.
During a period of rapid economic expansion, the sector generally outperforms
Gross Domestic Product (GDP) growth. |
|
|
During a period of rapid economic
expansion, the sector generally outperforms Gross Domestic Product (GDP)
growth. The construction sector is expected to grow by 8% to RM170 billion
for year 2017, boosted by the numerous mega infrastructure projects in the
country. The total allocation for Budget 2017 is RM260.8 billion — an
increase of 3.4% from the revised Budget 2016. |
|
|
The non-residential property subsector grew
by 4.9% to RM6.4 billion in the first half of 2017 (1H17). This growth was due
to the rebound in starts for shops (29.3%, compared with a 46.7% contraction
in 1H16 and serviced apartments (14%, compared with a 35% contraction in
1H16). However, construction starts in the industrial and small office home
office (SoHo) declined 9.7% and 16.1% respectively (1H16: -76.7% and -24.9%),
mainly due to moderation in the O&G-related industries. |
|
|
The industry indeed has a bright future,
considering numerous mega infrastructure projects that will continue to fuel
the construction demand. The projects include the Refinery and Petrochemical
Integrated Development (Rapid) in Pengerang, East Coast Rail Line from Port
Klang to Tumpat, High-Speed Rail from Kuala Lumpur to Singapore, Pan Borneo
Highway in Sabah and Sarawak, Damansara-Shah Alam elevated highway, light
rail transit from Bandar Utama to Johan Setia, West Coast Expressway from
Banting to Taiping and mass rapid transit line 2. |
|
|
In addition, there are commercial real
estate projects which will boost construction demand even further such as
Bandar Malaysia and Cyberjaya City Centre. Construction industry is one of
the key sector which will propel the nation into prosperity. Bank Negara
Malaysia has raised the country’s gross domestic product outlook to between
4.3% and 4.8% for 2017 and analysts have a consensus view that it will be
driven by primary sectors and construction projects. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
ENVOSHA 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 |
1,473,188 |
1,079,799 |
1,025,908 |
749,151 |
906,363 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
1,473,188 |
1,079,799 |
1,025,908 |
749,151 |
906,363 |
|
Costs of Goods Sold |
- |
- |
- |
- |
(302,100) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
- |
- |
604,263 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,996 |
4,373 |
62,399 |
9,166 |
33,450 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,996 |
4,373 |
62,399 |
9,166 |
33,450 |
|
Taxation |
(7,439) |
(7,117) |
(18,359) |
(4,620) |
(6,373) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(3,443) |
(2,744) |
44,040 |
4,546 |
27,077 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
72,919 |
75,663 |
31,623 |
27,077 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
72,919 |
75,663 |
31,623 |
27,077 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
69,476 |
72,919 |
75,663 |
31,623 |
27,077 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
69,476 |
72,919 |
75,663 |
31,623 |
27,077 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Hire purchase |
5,673 |
1,836 |
459 |
- |
- |
|
Others |
212 |
313 |
426 |
313 |
430 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
5,885 |
2,149 |
885 |
313 |
430 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
77,634 |
57,230 |
33,566 |
14,323 |
9,215 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
77,634 |
57,230 |
33,566 |
14,323 |
9,215 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
ENVOSHA SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
215,731 |
152,957 |
94,194 |
38,577 |
33,258 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
215,731 |
152,957 |
94,194 |
38,577 |
33,258 |
|
CURRENT ASSETS |
|||||
|
Trade debtors |
492,506 |
302,471 |
237,102 |
187,873 |
164,718 |
|
Other debtors, deposits & prepayments |
14,325 |
1,800 |
6,800 |
6,800 |
- |
|
Cash & bank balances |
97,279 |
9,890 |
17,008 |
4,764 |
5,495 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
604,110 |
314,161 |
260,910 |
199,437 |
170,213 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
819,841 |
467,118 |
355,104 |
238,014 |
203,471 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
72,863 |
29,147 |
20,889 |
2,690 |
5,455 |
|
Other creditors & accruals |
149,040 |
49,658 |
20,750 |
5,757 |
18,928 |
|
Hire purchase & lease creditors |
- |
- |
8,568 |
- |
- |
|
Amounts owing to director |
197,776 |
62,835 |
73,034 |
93,770 |
145,636 |
|
Provision for taxation |
15,111 |
7,671 |
6,913 |
4,174 |
- |
|
Lease payables |
41,409 |
25,985 |
- |
- |
- |
|
Other liabilities |
- |
- |
- |
- |
6,373 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
476,199 |
175,296 |
130,154 |
106,391 |
176,392 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
127,911 |
138,865 |
130,756 |
93,046 |
(6,179) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Lease obligations |
174,166 |
118,903 |
- |
- |
- |
|
Hire purchase creditors |
- |
- |
49,287 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
174,166 |
118,903 |
49,287 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
169,476 |
172,919 |
175,663 |
131,623 |
27,079 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
100,000 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
100,000 |
2 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
69,476 |
72,919 |
75,663 |
31,623 |
27,077 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
69,476 |
72,919 |
75,663 |
31,623 |
27,077 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
169,476 |
172,919 |
175,663 |
131,623 |
27,079 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
ENVOSHA SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
97,279 |
9,890 |
17,008 |
4,764 |
5,495 |
|
Net Liquid Funds |
97,279 |
9,890 |
17,008 |
4,764 |
5,495 |
|
Net Liquid Assets |
127,911 |
138,865 |
130,756 |
93,046 |
(6,179) |
|
Net Current Assets/(Liabilities) |
127,911 |
138,865 |
130,756 |
93,046 |
(6,179) |
|
Net Tangible Assets |
169,476 |
172,919 |
175,663 |
131,623 |
27,079 |
|
Net Monetary Assets |
(46,255) |
19,962 |
81,469 |
93,046 |
(6,179) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
9,881 |
6,522 |
63,284 |
9,479 |
33,880 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
87,515 |
63,752 |
96,850 |
23,802 |
43,095 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
174,166 |
118,903 |
57,855 |
0 |
0 |
|
Total Liabilities |
650,365 |
294,199 |
179,441 |
106,391 |
176,392 |
|
Total Assets |
819,841 |
467,118 |
355,104 |
238,014 |
203,471 |
|
Net Assets |
169,476 |
172,919 |
175,663 |
131,623 |
27,079 |
|
Net Assets Backing |
169,476 |
172,919 |
175,663 |
131,623 |
27,079 |
|
Shareholders' Funds |
169,476 |
172,919 |
175,663 |
131,623 |
27,079 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
100,000 |
2 |
|
Total Reserves |
69,476 |
72,919 |
75,663 |
31,623 |
27,077 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
36.43 |
5.25 |
36.94 |
(17.35) |
- |
|
Proft/(Loss) Before Tax |
(8.62) |
(92.99) |
580.77 |
(72.60) |
- |
|
Proft/(Loss) After Tax |
(25.47) |
(106.23) |
868.76 |
(83.21) |
- |
|
Total Assets |
75.51 |
31.54 |
49.19 |
16.98 |
- |
|
Total Liabilities |
121.06 |
63.95 |
68.66 |
(39.68) |
- |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.20 |
0.06 |
0.13 |
0.04 |
0.03 |
|
Liquid Ratio |
1.27 |
1.79 |
2.00 |
1.87 |
0.96 |
|
Current Ratio |
1.27 |
1.79 |
2.00 |
1.87 |
0.96 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
122 |
102 |
84 |
92 |
66 |
|
Creditors Ratio |
18 |
10 |
7 |
1 |
7 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.03 |
0.69 |
0.33 |
0 |
0 |
|
Liabilities Ratio |
3.84 |
1.70 |
1.02 |
0.81 |
6.51 |
|
Times Interest Earned Ratio |
1.68 |
3.03 |
71.51 |
30.28 |
78.79 |
|
Assets Backing Ratio |
1.69 |
1.73 |
1.76 |
1.32 |
13,539.50 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.27 |
0.40 |
6.08 |
1.22 |
3.69 |
|
Net Profit Margin |
(0.23) |
(0.25) |
4.29 |
0.61 |
2.99 |
|
Return On Net Assets |
5.83 |
3.77 |
36.03 |
7.20 |
125.12 |
|
Return On Capital Employed |
2.88 |
2.23 |
27.10 |
7.20 |
125.12 |
|
Return On Shareholders' Funds/Equity |
(2.03) |
(1.59) |
25.07 |
3.45 |
99.99 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
|
MYR |
1 |
INR 16.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.