|
|
|
MIRA
INFORM REPORT
|
Report No. : |
489906 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SECO TECHNOLOGY SDN. BHD |
|
|
|
|
Formerly Known As : |
SECO ENTERPRISE SDN BHD |
|
|
|
|
Registered Office : |
12-2, Jalan Ppm 11, Plaza Pandan Malim, Balai Panjang,
75250 Melaka, Melaka,. |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2015 |
|
|
|
|
Date of Incorporation : |
30.11.2006 |
|
|
|
|
Com. Reg. No.: |
754913-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of chemical and plastic
resins |
|
|
|
|
No. of Employees : |
10 [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. |
: |
754913-K |
||||
|
GST NO. |
: |
001536294912 |
||||
|
COMPANY NAME |
: |
SECO TECHNOLOGY SDN. BHD. |
||||
|
FORMER NAME |
: |
SECO ENTERPRISE SDN BHD (22/10/2008) |
||||
|
INCORPORATION DATE |
: |
30/11/2006 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
12-2, JALAN PPM 11, PLAZA PANDAN MALIM, BALAI PANJANG, 75250
MELAKA, MELAKA, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
26, JALAN PERDAGANGAN 8 , TAMAN UNIVERSITI, 81300 SKUDAI, JOHOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
07-5202379 |
||||
|
FAX.NO. |
: |
07-5202443 |
||||
|
WEB SITE |
: |
WWW.SECOTECHNOLOGY.COM.MY |
||||
|
CONTACT PERSON |
: |
LIM CHAN JIN ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
20119 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CHEMICAL AND PLASTIC RESINS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 10,959,133 [2015] |
||||
|
NET WORTH |
: |
MYR 2,298,737 [2015] |
||||
|
STAFF STRENGTH |
: |
10 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
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) trading
of chemical and plastic resins
.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Former Address(es)
|
Address |
As At Date |
|
17, JALAN KAMUNTING, SECTION BS 3, BUKIT SENTOSA, 48300,
SELANGOR, MALAYSIA |
15/02/2013 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
17/11/2014 |
MYR 500,000.00 |
MYR 500,000.00 |
|
05/06/2013 |
MYR 500,000.00 |
MYR 250,000.00 |
|
25/03/2009 |
MYR 100,000.00 |
MYR 100,000.00 |
|
30/11/2006 |
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. LIM CHAN JIN + |
12, JALAN SRI SENTOSA 2, TAMAN SRI SENTOSA, 81500 PEKAN NENAS,
JOHOR, MALAYSIA. |
711113-04-5127 A2018836 |
250,000.00 |
50.00 |
|
MS. LIM YIH V + |
12, JALAN SRI SENTOSA 2, TAMAN SRI SENTOSA, 81500 PEKAN NENAS,
JOHOR, MALAYSIA. |
730419-01-6090 A2394363 |
250,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
LEE WEI KIEN |
MALAYSIA |
770828-04-5649 |
50,000.00 |
N/A |
|
LEE WEI SOON |
MALAYSIA |
840627-04-5109 |
50,000.00 |
N/A |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MR. LIM CHAN JIN |
|
Address |
: |
12, JALAN SRI SENTOSA 2, TAMAN SRI SENTOSA, 81500 PEKAN NENAS,
JOHOR, MALAYSIA. |
|
Other Address(es) |
: |
42, JALAN UTAMA 19, TAMAN UTAMA, 81500 PEKAN NENAS, JOHOR,
MALAYSIA. |
|
IC / PP No |
: |
A2018836 |
|
New IC No |
: |
711113-04-5127 |
|
Date of Birth |
: |
13/11/1971 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/06/2009 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
|
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 |
676835P |
ACME EDGE SDN. BHD. |
Director |
08/04/2005 |
50,000.00 |
50.00 |
MYR14,543.00 |
2015 |
- |
25/01/2018 |
|
2 |
924903V |
DS CHEMICALS SDN. BHD. |
Director |
13/01/2011 |
7,500.00 |
15.00 |
MYR222,930.00 |
2016 |
- |
25/01/2018 |
|
3 |
898811P |
EVOLUSI ENGINEERING SDN. BHD. |
Director |
19/04/2010 |
3,000.00 |
30.00 |
MYR(30,274.00) |
2014 |
- |
25/01/2018 |
|
4 |
891440P |
FELIZ TRAVEL & TOURS SDN. BHD. |
Director |
03/03/2010 |
180,000.00 |
60.00 |
MYR(581.00) |
2014 |
- |
25/01/2018 |
|
5 |
565856K |
JB LIONS RENAL CARE FOUNDATION |
Director |
02/03/2015 |
0.00 |
- |
N/A |
2016 |
- |
25/01/2018 |
|
6 |
820361K |
MAXBILL LOGISTICS SDN. BHD. |
Director |
13/12/2013 |
84,001.00 |
30.00 |
MYR(231,244.00) |
2014 |
- |
25/01/2018 |
|
7 |
754913K |
SECO TECHNOLOGY SDN. BHD. |
Director |
15/06/2009 |
250,000.00 |
50.00 |
MYR846,190.00 |
2015 |
- |
25/01/2018 |
|
8 |
1002335V |
U DIVE SDN. BHD. |
Director |
17/05/2012 |
36,000.00 |
72.00 |
MYR371.00 |
2016 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
JM0364793M |
ALPHA SOLUTION MARKETING |
PARTNERSHIP |
18/06/2004 |
50.00 |
- |
26/12/2017 |
|
2 |
JM0597880P |
BLOOMBERG MARKETING |
SOLE PROPRIETORSHIP |
06/06/2011 |
100.00 |
- |
26/12/2017 |
|
3 |
JM0422187P |
NANO TECH INDUSTRIES SUPPLY |
SOLE PROPRIETORSHIP |
01/02/2005 |
100.00 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
JM0348543A |
RAPIDTECH ENTERPRISE |
SOLE PROPRIETORSHIP |
18/06/2004 |
23/11/2007 |
- |
- |
|
2 |
923829U |
TIOMAN DIVE BUDDY (M) SDN. BHD. |
Director |
30/11/2010 |
01/02/2012 |
- |
- |
|
3 |
923829U |
TIOMAN DIVE BUDDY (M) SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MS. LIM YIH V |
|
Address |
: |
12, JALAN SRI SENTOSA 2, TAMAN SRI SENTOSA, 81500 PEKAN NENAS,
JOHOR, MALAYSIA. |
|
Other Address(es) |
: |
42,JALAN UTAAM 19, TAMAN UTAMA, 81500 PEKAN NENAS;JOHOR,
MALAYSIA. |
|
IC / PP No |
: |
A2394363 |
|
New IC No |
: |
730419-01-6090 |
|
Date of Birth |
: |
19/04/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
15/06/2009 |
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 |
676835P |
ACME EDGE SDN. BHD. |
Director |
08/04/2005 |
50,000.00 |
50.00 |
MYR14,543.00 |
2015 |
- |
25/01/2018 |
|
2 |
754913K |
SECO TECHNOLOGY SDN. BHD. |
Director |
15/06/2009 |
250,000.00 |
50.00 |
MYR846,190.00 |
2015 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
JM0651748X |
DAVIDSON CONSTRUCTION |
SOLE PROPRIETORSHIP |
28/03/2013 |
100.00 |
- |
26/12/2017 |
|
2 |
JM0500924H |
STRATEGIC INDUSTRY |
SOLE PROPRIETORSHIP |
19/11/2007 |
100.00 |
- |
26/12/2017 |
FORMER DIRECTOR(S) |
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
LEE WEI SOON |
NO. 108 JALAN TBC 12, TAMAN BUKIT CHENG, MELAKA, MELAKA,
MALAYSIA |
840627-04-5109 |
30/11/2006 |
15/06/2009 |
|
LEE WEI KIEN |
NO. 108 JALAN TB 12, TAMAN BUKIT CHENG, MELAKA, MELAKA, MALAYSIA |
770828-04-5649 |
30/11/2006 |
15/06/2009 |
Note : The above information was generated from our database.
MANAGEMENT |
|
1) |
Name of Subject |
: |
LIM CHAN JIN |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR |
|
Auditor |
: |
JOO EE, CHOON & ASSOCIATES |
|
Auditor' Address |
: |
SUITE 2.01, 8-2, JALAN PPM 12, PLAZA PANDAN MALIM, 75250 MELAKA,
MELAKA, MALAYSIA. |
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
MR. LOW TEN POW |
|
IC / PP No |
: |
4248269 |
|
|
New IC No |
: |
520512-04-5587 |
|
|
Address |
: |
12-2, JALAN PPM 11, PLAZA PANDAN MALIM, BALAI PANJANG, 75250
MELAKA, MELAKA, 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 |
: |
20% |
|
Overseas |
: |
YES |
Percentage |
: |
80% |
|
Import Countries |
: |
TAIWAN,JAPAN,CHINA |
|||
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
|
|||||
|
Competitor(s) |
: |
|
|||||
|
Ownership of premises |
: |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2015 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
10 |
4 |
5 |
||||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of chemical
and plastic resins.
The Subject is engage in distribution for chemicals and Plastic Resins
The Subject's products ranges are including as follows:
* Polyamide
* Polybutyleneterephthalate (PBT)
* Polycarbonate/ABS (PC-ABS)
The Subject's products are comply with local environment , legislation and
Restriction of Hazardous Substances Directive (ROHS) .
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-5202379 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
26, JLN PERDAGANGAN 8, TAMAN UNIVERSITI, SKUDAI 81300 |
|
Current Address |
: |
26, JALAN PERDAGANGAN 8 , TAMAN UNIVERSITI, 81300 SKUDAI, JOHOR,
MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
|
|
||
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees.
The address provided is incomplete.
FINANCIAL ANALYSIS |
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2015 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2015 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
36.81% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
44.04% |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.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. |
||||||
|
Liquidity |
||||||
|
Current Ratio |
: |
Favourable |
[ |
3.55 Times |
] |
|
|
The Subject was in good liquidity position with its current
liabilities well covered by its current assets. With its net
current assets, the Subject should be able to repay its short term
obligations. |
||||||
|
Solvency |
||||||
|
Liability Ratio |
: |
Favourable |
[ |
0.43 Times |
] |
|
|
A low liabilities ratio has minimised the Subject's financial
risk. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a
steady growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. 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 has a low liabilities ratio. It's
liabilities were low and was not vulnerable to the financial risk. |
||||||
|
Overall financial condition of the Subject : STRONG |
||||||
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 |
|
|
20119 : Manufacture of other basic chemicals n.e.c. |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is forecast to increase 5.3% in year
2018 (2017: 5.5%). Output of export-oriented industries is projected to
expand on account of sustained demand for E&E, refined petroleum and
woods products. Growth in the domestic-oriented industries is anticipated to
remain resilient supported by ongoing construction of infrastructure projects
as well as strong demand for consumer products, especially food and transport
equipment. |
|
|
Value added of the manufacturing sector expanded further by 5.8%
during the first half of 2017 (January – June 2016: 4.4%) with expansion
across a wide range of outputs in both the export- and domestic-oriented
industries. During the first eight months, production increased 6.4%, while
sales rebounded significantly by 15.6% to RM500.2 billion (January – August
2016: 4%; -0.7%; RM432.8 billion). Output of export-oriented industries rose
6.5% (January – August 2016: 4.3%) led by an upturn in global electronics
cycle and further enhanced by strong demand for resource-based products.
Meanwhile, domestic-oriented industries expanded 6.2% (January – August 2016:
3.4%) benefiting from vibrant consumption and construction activities. |
|
|
Within the export-oriented industries, E&E output expanded
9.3% while sales surged 16.3% to RM169.5 billion (January – August 2016:
6.8%; 9%; RM145.8 billion). Growth emanated mainly from the expansion in
output of printed circuit boards, semiconductor devices and electronic
integrated circuits which strengthened further by 24.4%, 11.9% and 16.9%
(January – August 2016: 11.9%; 5.9%; 15%), respectively. This is in line with
the trend in global semiconductor sales which is expected to expand 11.5% in
2017, the highest level since 2010. On the contrary, the output of computers
and peripheral equipment contracted 7.7% (January – August 2016: 3.1%) as a
result of lower demand for notebooks and personal computers following rising
preferences for smartphones and tablets. Meanwhile, consumer electronics grew
at a moderate pace of 2.6% (January – August 2016: 5.3%) partly due to lower
demand for in-car entertainment, portable media players and digital cameras. |
|
|
Output of wood and wood products grew 7.3% (January – August
2016: 7.8%). The growth was primarily supported by output of sawmilling and
planning of wood which expanded 14.7% (January – August 2016: 16.8%) in
response to strong demand from Australia, Japan and the US. Meanwhile,
production of wooden and cane furniture remained steady at 10.9% (January –
August 2016: 10.9%), benefiting from greater adoption of technology and
diversification of export markets. |
|
|
Manufacture of food products rose 11.2%, largely attributed to a
significant increase in refined palm oil at 26.1% (January – August 2016:
6.3%; -3.3%), following higher production of CPO. Meanwhile, output of other
food products grew 7% supported by production of bread, cakes and other
bakery (15.6%) as well as biscuits and cookies (12%) to meet the rising
demand from households (January – August 2016: 11.1%; 19.2%; 19.1%). |
|
|
For the year, the manufacturing sector is projected to expand
further by 5.5% (2016: 4.4%) mainly attributed to an upturn in global
semiconductor sales as well as higher demand for consumer products and
construction materials. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
Financials
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
SECO TECHNOLOGY SDN. BHD. |
|
Financial Year End |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
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 |
SUMMARY |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
10,959,133 |
13,780,057 |
6,993,446 |
4,815,458 |
3,638,980 |
|
Other Income |
- |
82,594 |
23,578 |
286 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
10,959,133 |
13,862,651 |
7,017,024 |
4,815,744 |
3,638,980 |
|
Costs of Goods Sold |
- |
(12,378,640) |
(6,183,415) |
(3,973,813) |
(2,873,941) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
1,484,011 |
833,609 |
841,931 |
765,039 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,012,463 |
847,548 |
388,821 |
197,866 |
181,954 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,012,463 |
847,548 |
388,821 |
197,866 |
181,954 |
|
Taxation |
(166,273) |
(195,430) |
(85,695) |
(49,630) |
(43,704) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
846,190 |
652,118 |
303,126 |
148,236 |
138,250 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,352,547 |
800,429 |
497,303 |
449,067 |
410,817 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,352,547 |
800,429 |
497,303 |
449,067 |
410,817 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,198,737 |
1,452,547 |
800,429 |
597,303 |
549,067 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(400,000) |
(100,000) |
- |
(100,000) |
(100,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,798,737 |
1,352,547 |
800,429 |
497,303 |
449,067 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
0 |
||||
|
Bank overdraft |
- |
2,606 |
2,417 |
1,237 |
950 |
|
Bankers' acceptance |
- |
6,535 |
25,045 |
11,468 |
3,711 |
|
Hire purchase |
- |
10,062 |
5,832 |
2,541 |
3,370 |
|
Term loan / Borrowing |
- |
30,809 |
11,994 |
4,425 |
5,718 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
50,012 |
45,288 |
19,671 |
13,749 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
- |
100,707 |
81,565 |
48,194 |
46,088 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
- |
100,707 |
81,565 |
48,194 |
46,088 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
SECO TECHNOLOGY SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
341,161 |
375,770 |
229,704 |
132,405 |
112,550 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
341,161 |
375,770 |
229,704 |
132,405 |
112,550 |
|
CURRENT ASSETS |
0 |
- |
- |
- |
- |
|
Stocks |
- |
1,420,863 |
1,517,972 |
1,009,618 |
657,443 |
|
Trade debtors |
- |
1,811,887 |
1,436,929 |
954,254 |
918,477 |
|
Other debtors, deposits & prepayments |
- |
7,016 |
7,215 |
7,288 |
4,252 |
|
Short term deposits |
- |
9,707 |
9,420 |
9,139 |
- |
|
Cash & bank balances |
- |
775,767 |
4,774 |
125,684 |
97,752 |
|
Others |
- |
- |
- |
1,552 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
2,934,579 |
4,025,240 |
2,976,310 |
2,107,535 |
1,677,924 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
3,275,740 |
4,401,010 |
3,206,014 |
2,239,940 |
1,790,474 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
0 |
||||
|
Trade creditors |
- |
627,917 |
327,437 |
229,257 |
349,398 |
|
Other creditors & accruals |
- |
544,211 |
437,466 |
429,481 |
407,255 |
|
Hire purchase & lease creditors |
- |
54,273 |
41,791 |
26,019 |
16,255 |
|
Bank overdraft |
- |
- |
3,366 |
74,536 |
- |
|
Short term borrowings/Term loans |
- |
102,598 |
112,144 |
19,887 |
18,437 |
|
Bill & acceptances payable |
- |
296,671 |
290,000 |
270,000 |
- |
|
Amounts owing to director |
- |
- |
- |
- |
360,492 |
|
Provision for taxation |
- |
74,541 |
16,425 |
- |
3,349 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
826,863 |
1,700,211 |
1,228,629 |
1,049,180 |
1,155,186 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,107,716 |
2,325,029 |
1,747,681 |
1,058,355 |
522,738 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
0 |
- |
- |
- |
- |
|
Long term loans |
- |
85,733 |
193,915 |
27,749 |
48,282 |
|
Hire purchase creditors |
- |
138,171 |
77,539 |
31,367 |
30,909 |
|
Deferred taxation |
- |
36,300 |
10,900 |
5,930 |
7,030 |
|
Others |
- |
588,048 |
644,602 |
528,411 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
150,140 |
848,252 |
926,956 |
593,457 |
86,221 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,298,737 |
1,852,547 |
1,050,429 |
597,303 |
549,067 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
500,000 |
500,000 |
250,000 |
100,000 |
100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
500,000 |
500,000 |
250,000 |
100,000 |
100,000 |
|
RESERVES |
0 |
- |
- |
- |
- |
|
Retained profit/(loss) carried forward |
1,798,737 |
1,352,547 |
800,429 |
497,303 |
449,067 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,798,737 |
1,352,547 |
800,429 |
497,303 |
449,067 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,298,737 |
1,852,547 |
1,050,429 |
597,303 |
549,067 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
SECO TECHNOLOGY SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
- |
785,474 |
14,194 |
134,823 |
97,752 |
|
Net Liquid Funds |
- |
488,803 |
(279,172) |
(209,713) |
97,752 |
|
Net Liquid Assets |
2,107,716 |
904,166 |
229,709 |
48,737 |
(134,705) |
|
Net Current Assets/(Liabilities) |
2,107,716 |
2,325,029 |
1,747,681 |
1,058,355 |
522,738 |
|
Net Tangible Assets |
2,298,737 |
1,852,547 |
1,050,429 |
597,303 |
549,067 |
|
Net Monetary Assets |
1,957,576 |
55,914 |
(697,247) |
(544,720) |
(220,926) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
- |
897,560 |
434,109 |
217,537 |
195,703 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
- |
998,267 |
515,674 |
265,731 |
241,791 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
- |
677,446 |
718,755 |
449,558 |
113,883 |
|
Total Liabilities |
977,003 |
2,548,463 |
2,155,585 |
1,642,637 |
1,241,407 |
|
Total Assets |
3,275,740 |
4,401,010 |
3,206,014 |
2,239,940 |
1,790,474 |
|
Net Assets |
2,298,737 |
1,852,547 |
1,050,429 |
597,303 |
549,067 |
|
Net Assets Backing |
2,298,737 |
1,852,547 |
1,050,429 |
597,303 |
549,067 |
|
Shareholders' Funds |
2,298,737 |
1,852,547 |
1,050,429 |
597,303 |
549,067 |
|
Total Share Capital |
500,000 |
500,000 |
250,000 |
100,000 |
100,000 |
|
Total Reserves |
1,798,737 |
1,352,547 |
800,429 |
497,303 |
449,067 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(20.47) |
97.04 |
45.23 |
32.33 |
6.76 |
|
Proft/(Loss) Before Tax |
19.46 |
117.98 |
96.51 |
8.75 |
(2.92) |
|
Proft/(Loss) After Tax |
29.76 |
115.13 |
104.49 |
7.22 |
(3.77) |
|
Total Assets |
(25.57) |
37.27 |
43.13 |
25.10 |
22.13 |
|
Total Liabilities |
(61.66) |
18.23 |
31.23 |
32.32 |
29.96 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
- |
0.46 |
0.01 |
0.13 |
0.08 |
|
Liquid Ratio |
- |
1.53 |
1.19 |
1.05 |
0.88 |
|
Current Ratio |
3.55 |
2.37 |
2.42 |
2.01 |
1.45 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
- |
38 |
79 |
77 |
66 |
|
Debtors Ratio |
- |
48 |
75 |
72 |
92 |
|
Creditors Ratio |
- |
19 |
19 |
21 |
44 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
- |
0.37 |
0.68 |
0.75 |
0.21 |
|
Liabilities Ratio |
0.43 |
1.38 |
2.05 |
2.75 |
2.26 |
|
Times Interest Earned Ratio |
- |
17.95 |
9.59 |
11.06 |
14.23 |
|
Assets Backing Ratio |
4.60 |
3.71 |
4.20 |
5.97 |
5.49 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
9.24 |
6.15 |
5.56 |
4.11 |
5.00 |
|
Net Profit Margin |
7.72 |
4.73 |
4.33 |
3.08 |
3.80 |
|
Return On Net Assets |
44.04 |
48.45 |
41.33 |
36.42 |
35.64 |
|
Return On Capital Employed |
41.34 |
32.58 |
21.46 |
16.85 |
30.04 |
|
Return On Shareholders' Funds/Equity |
36.81 |
35.20 |
28.86 |
24.82 |
25.18 |
|
Dividend Pay Out Ratio (Times) |
0.47 |
0.15 |
0 |
0.67 |
0.72 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
- |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
MYR |
1 |
INR 16.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.