MIRA INFORM REPORT

 

 

Report No. :

490562

Report Date :

10.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

SUASMA MARKETING SDN. BHD.

 

 

Registered Office :

No. 56,, Lorong Pelangi 1,, Taman Pelangi, 71000 Port Dickson, Negeri Sembilan.

 

 

Country :

Malaysia

 

 

Date of Incorporation :

19.09.2015

 

 

Com. Reg. No.:

1159222-A

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The Subject is engaged in the collection and metal scrap recycling.

 

 

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 :

Unknown

 

 

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.

:

1159222-A

GST NO.

:

N/A

COMPANY NAME

:

SUASMA MARKETING SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

17/09/2015

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

NO. 56,, LORONG PELANGI 1,, TAMAN PELANGI, 71000 PORT DICKSON, NEGERI SEMBILAN, MALAYSIA.

BUSINESS ADDRESS

:

23-A, JALAN CEMPAKA, 12-2 BANDAR SRI DAMANSARA, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

TEL.NO.

:

N/A

FAX.NO.

:

N/A

MOBILE NO.

:

0123549235

CONTACT PERSON

:

ARULNATHAN A/L ASSIRVATHAM ( DIRECTOR )

INDUSTRY CODE

:

46698

PRINCIPAL ACTIVITY

:

COLLECTION AND METAL SCRAP RECYCLING

AUTHORISED CAPITAL

:

MYR 400,000.00 DIVIDED INTO
ORDINARY SHARE 400,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 2.00 DIVIDED INTO
ORDINARY SHARES 2 CASH OF MYR 1.00 EACH.

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

10 [2018]

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

UNKNOWN

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

 

 

 

 

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject shall have a minimum one director. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

 

The Subject is principally engaged in the (as a / as an) collection and metal scrap recycling.

The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

28/09/2015

MYR 400,000.00

MYR 2.00

The major shareholder(s) of the Subject are shown as follows :

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

ABDUL MANNAN SABJAN

40-1, JALAN TUN SAMBANTAN 3,, BRICKFIELDS,, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

H9242572

1.00

50.00

MR. ARUMADURAI A/L SINNASAMY

40-1, JALAN TUN SAMBANTHAN 3,, BRICKFIELDS,, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

560110-01-6309 8200890

1.00

50.00

---------------

------

2.00

100.00

============

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MR. ARULNATHAN A/L ASSIRVATHAM

Address

:

NO.11, JALAN 6/35, BANDAR TASIK PUTERI, 48020 RAWANG, SELANGOR, MALAYSIA.

IC / PP No

:

A2565768

New IC No

:

731119-01-5007

Nationality

:

MALAYSIAN

Date of Appointment

:

17/06/2016


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

677716X

ACCESS FACTOR SDN. BHD.

Director

29/11/2012

0.00

-

MYR(5,059.00)

2015

-

25/01/2018

2

1042410T

AJN ENERGY (M) SDN. BHD.

Director

10/07/2014

7,500.00

1.00

MYR3,028.00

2013

-

25/01/2018

3

1190997U

BLACKBOX CAFE SERVICES SDN. BHD.

Director

10/06/2016

5.00

5.00

-

-

-

25/01/2018

4

613308U

JN POWER (M) SDN. BHD.

Director

12/11/2014

1,000.00

1.00

MYR16,160.00

2014

-

25/01/2018

5

1159222A

SUASMA MARKETING SDN. BHD.

Director

17/06/2016

0.00

-

-

-

-

25/01/2018


INTEREST IN BUSINESS

No

Local No

Business

Designation

App Date

Shareholding (%)

Status

As At

1

002140787M

ARUL MANAGEMENT & SERVICES

SOLE PROPRIETORSHIP

04/07/2012

50.00

-

26/12/2017


FORMER INTEREST

No

Local No

Company

Designation

App Date

Withdrawn Date

Shareholding

Status

1

002140771A

THIRAV FUSION ENTERPRISE

PARTNERSHIP

04/07/2012

15/11/2014

-

-

 

DIRECTOR 2

 

Name Of Subject

:

MR. GUNASAGEREN A/L NADESON

Address

:

NO. 128, JALAN BRP 7/3A, BUKIT RAHMAN PUTRA, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA.

IC / PP No

:

A0005538

New IC No

:

641218-01-5521

Date of Birth

:

18/12/1964

Nationality

:

MALAYSIAN

Date of Appointment

:

17/06/2016


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

1187888V

LEADER BIOMEDICAL ASIA PACIFIC SDN. BHD.

Director

17/05/2016

35.00

0.02

-

-

-

25/01/2018

2

1197939M

LEPOTA CUISINE SDN. BHD.

Director

11/08/2016

50.00

50.00

-

-

-

25/01/2018

3

955662W

M'JOY HOTEL SDN. BHD.

Director

02/12/2013

349,999.00

70.00

MYR124,852.00

2013

-

25/01/2018

4

1159222A

SUASMA MARKETING SDN. BHD.

Director

17/06/2016

0.00

-

-

-

-

25/01/2018

5

704340V

THE COSMOPOLITAN EVENTS AND CONSULTANTS SDN. BHD.

Director

17/08/2010

0.00

-

-

-

Disolved by Registrar

25/01/2018


INTEREST IN BUSINESS

No

Local No

Business

Designation

App Date

Shareholding (%)

Status

As At

1

001728174H

A N E COMMUNICATIONS

PARTNERSHIP

04/12/2007

11.00

-

26/12/2017

2

001279524V

ANE COMMUNICATION &MARKETING

SOLE PROPRIETORSHIP

18/06/2004

100.00

-

26/12/2017

3

001017482W

KIM SUK ENGINEERING

PARTNERSHIP

18/06/2004

50.00

-

26/12/2017

4

002120879T

MG EDUCATION

SOLE PROPRIETORSHIP

23/04/2012

100.00

-

26/12/2017


FORMER INTEREST

No

Local No

Company

Designation

App Date

Withdrawn Date

Shareholding

Status

1

795741V

CAMERON KOTA BARU EXPRESS SDN. BHD.

Director

30/10/2008

21/08/2009

-

-

2

677020H

GLOBAL MILLENIUM TRADING SDN. BHD.

Shareholder

-

-

-

-

3

822792V

INDO MAL FERRO ALLOYS SDN. BHD.

Director

12/08/2008

15/10/2008

-

-

4

691317A

MG CAPITAL SDN. BHD.

Shareholder

-

-

150000.00

-



FORMER DIRECTOR(S)

 

Name

Address

IC/PP No

Appointed Date

Withdrawn Date

ARUMADURAI A/L SINNASAMY

40-1, JALAN TUN SAMBANTHAN 3,, BRICKFIELDS,, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA

560110-01-6309

17/09/2015

17/06/2016

ABDUL MANNAN SABJAN

40-1, JALAN TUN SAMBANTAN 3,, BRICKFIELDS,, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA

H9242572

17/09/2015

17/06/2016

 

Note : The above information was generated from our database.



MANAGEMENT

 

 

 

1)

Name of Subject

:

ARULNATHAN A/L ASSIRVATHAM

Position

:

DIRECTOR

 

 

 

AUDITOR


No Auditor found in our databank

COMPANY SECRETARIES


No company secretary was found in our databank.

 

BANKING


No Banker found in our databank.

 

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

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

MALAYSIA

Overseas

:

YES

Export Market

:

INDIA

TURKEY

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Services

:

COLLECTION AND METAL SCRAP RECYCLING

 

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) collection and metal scrap recycling.

The Subject is involved in the metal recycling business on a small basis.

According to Mr Arul the Director the Subject is only doing the business on small scale.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

0123549235

Match

:

N/A

Address Provided by Client

:

23-A, JALAN CEMPAKA, 12-2 BANDAR SRI DAMANSARA 52200 KUALA LUMPUR

Current Address

:

23-A, JALAN CEMPAKA, 12-2 BANDAR SRI DAMANSARA, 52200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

Match

:

NO

Latest Financial Accounts

:

NO


We contacted Mr Arul according to him the Subject's latest financials for the year 2016 is under preparation process.

 

Other Investigations


We contacted Mr Arul the Director and he provided some information.

He refused to disclose the fax number and bankers. The address provided is incomplete.


FINANCIAL ANALYSIS

 

No latest financial accounts are available at the Registry Office, thus we are not able to comment on the Subject's financial performance.

Overall financial condition of the Subject : N/A

 

 

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

46698 : Wholesale of metal and non-metal waste and scrap and materials for recycling

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

 


Incorporated in 2015, the Subject is a Private Limited company, focusing on collection and metal scrap recycling. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. With an issued and paid up capital of MYR 2 contributed by individual shareholders, the Subject may face difficulties in its attempt to further expand its business in the future. Thus, the Subject should put more efforts on its business to gain higher market share while competing aggressively in the market.

Investigation revealed, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 10 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

No financial accounts are available for analysis. As such, we are not able to comment on the Subject's current financial standing.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market.

In view of the above, we only recommend credit be proceeded to the Subject with guarantee.

 

 

FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.37

UK Pound

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.