|
|
|
MIRA INFORM REPORT
|
Report No. : |
490907 |
|
Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALPHA TECHNIC
AUTOMATION SDN. BHD. |
|
|
|
|
Registered Office : |
308, Tingkat 3, Blok A, Kelana Square, 17,
Jalan Ss 7/26, Kelana Jaya, 47301 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
10.10.2010 |
|
|
|
|
Com. Reg. No.: |
917520-A |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading in industrial equipment and products, fluid power & automation
products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
MYR 115,000 (USD 29,000) |
|
|
|
|
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. |
: |
917520-A |
||||
|
GST NO. |
: |
000552878080 |
||||
|
COMPANY NAME |
: |
ALPHA TECHNIC AUTOMATION SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
10/10/2010 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
308, TINGKAT 3, BLOK A, KELANA SQUARE, 17, JALAN
SS 7/26, KELANA JAYA, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
21, JALAN G U8/G, BUKIT JELUTONG, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-78458300 |
||||
|
FAX.NO. |
: |
03-78325300 |
||||
|
WEB SITE |
: |
WWW.ALPHA-TECHNIC.COM.MY |
||||
|
CONTACT PERSON |
: |
SIEW SHAN PENG ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46594 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING IN INDUSTRIAL EQUIPMENT AND
PRODUCTS, FLUID POWER & AUTOMATION PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 400,000.00
DIVIDED INTO |
||||
|
SALES |
: |
MYR 2,449,984 [2016] |
||||
|
NET WORTH |
: |
MYR 720,844 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
|
PROPOSED CREDIT LIMIT |
: |
MYR 115,000 (USD 29,000) |
||||
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 in industrial equipment and products, fluid power &
automation products.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
01/10/2012 |
MYR 500,000.00 |
MYR 400,000.00 |
|
13/01/2011 |
MYR 100,000.00 |
MYR 100,000.00 |
|
10/10/2010 |
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 |
(%) |
|
MS. FOONG MOY LIM + |
5, JALAN KUBAH U8/53, BUKIT JELUTONG, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
530605-08-5448 4439001 |
200,000.00 |
50.00 |
|
MR. SIEW SHAN PENG + |
5, JALAN KUBAH U8/53, BUKIT JELUTONG, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
501220-08-5479 4021060 |
200,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
400,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MS. FOONG MOY LIM |
|
Address |
: |
5, JALAN KUBAH U8/53, BUKIT JELUTONG, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4439001 |
|
New IC No |
: |
530605-08-5448 |
|
Date of Birth |
: |
05/06/1953 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/10/2010 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
917520A |
ALPHA TECHNIC AUTOMATION SDN. BHD. |
Director |
10/10/2010 |
200,000.00 |
50.00 |
MYR169,849.00 |
2016 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
000384007H |
SYARIKAT AGRITRADE |
SOLE PROPRIETORSHIP |
18/06/2004 |
23/11/2007 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MR. SIEW SHAN PENG |
|
Address |
: |
5, JALAN KUBAH U8/53, BUKIT JELUTONG, 40150
SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4021060 |
|
New IC No |
: |
501220-08-5479 |
|
Date of Birth |
: |
20/12/1950 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
10/10/2010 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
917520A |
ALPHA TECHNIC AUTOMATION SDN. BHD. |
Director |
10/10/2010 |
200,000.00 |
50.00 |
MYR169,849.00 |
2016 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
41112D |
BOSCH REXROTH SDN. BHD. |
Shareholder |
- |
- |
6.00 |
- |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SIEW SHAN PENG |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
K.H. KWONG & CO |
|
Auditor' Address |
: |
15-A, TINGKAT 1, JALAN SS 15/4C, 47500
SUBANG JAYA, SELANGOR, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. LAN HAW CHONG @ LAU HAW CHONG |
|
IC / PP No |
: |
4294392 |
|
|
New IC No |
: |
520504-08-5079 |
|
|
Address |
: |
16, JALAN SS 25/15, 47301 PETALING JAYA,
SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors that
have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
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
|
|
Goods Traded |
: |
INDUSTRIAL EQUIPMENT AND PRODUCTS, FLUID
POWER & AUTOMATION PRODUCTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading in industrial
equipment and products, fluid power & automation products.
Expertise:
Fluid Power – Hydraulics & Pneumatics
Fluid Conditioning – Filtration
Fluid Controls – Automation
The Subject's vision is to Employing quality products, helping customers to
save on cost, to produce more & better.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-78458300 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
21, JALAN G U8/G, BUKIT JELUTONG, SELANGOR,
40150 SHAH ALAM |
|
Current Address |
: |
21, JALAN G U8/G, BUKIT JELUTONG, 40150
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.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2011 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
23.56% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
30.79% |
] |
|
|
The Subject's turnover increased steadily as
the demand for its products / services increased due to the goodwill built up
over the years.The Subject's profit fell sharply because of the high
operating costs incurred. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
139 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
90 Days |
] |
|
|
The Subject could be incurring higher
holding cost. As its capital was tied up in stocks, it could face liquidity
problems. The favourable debtors' days could be due to the good credit
control measures implemented by the Subject. The unfavourable creditors'
ratio could be due to the Subject taking advantage of the credit granted by
its suppliers. However this may affect the goodwill between the Subject and
its suppliers and the Subject may inadvertently have to pay more for its
future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.31 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.01 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 |
: |
Favourable |
[ |
238.95 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.01 Times |
] |
|
|
The interest cover showed that the Subject was
able to service the interest. The favourable interest cover could indicate
that the Subject was making enough profit to pay for the interest accrued.
The Subject was lowly geared thus it had a low financial risk. The Subject
was mainly financed by its shareholders' funds and internally generated
funds. In times of economic slowdown / downturn, the Subject being a lowly
geared company, will be able to compete better than those companies which are
highly geared in the same industry. |
||||||
|
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. With the favourable interest cover, the Subject could
be able to service all the accrued interest without facing any difficulties.
The Subject as a lowly geared company, will be more secured compared to those
highly geared companies. It has the ability to meet all its long term
obligations. |
||||||
|
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 |
|
|
46594 : Wholesale of industrial machinery,
equipment and supplies |
|
|
INDUSTRY : |
MACHINERY |
|
Malaysia is presently the leading
manufacturer of automation machinery and equipment (M&E) in the ASEAN region
with a total of 22 companies in production. The machinery and equipment
industry assumes an important role in the industrial development of the
country, in view of its extensive linkages to major economic sectors, such as
manufacturing, construction, transportation, mining and agriculture. The
industry supports a large number of Small and Medium Enterprises (SMEs),
which are capable of producing machinery and equipment for both domestic and
export markets. In turn, the industry is supported by a wide range of
important engineering services, which mainly involve SMEs. |
|
|
Exports of machinery, appliances and parts
continued to post double-digit growth of 14.3% driven largely by specialized machinery
for specific industries, particularly for civil engineering as well as the
manufacture of semiconductors and parts. In addition, higher demand also
emanated from general industrial machinery and equipment, particularly
heating and cooling equipment as well as pumps, compressors, fans and parts.
Key export destinations for machinery, appliances and parts were Singapore,
Thailand, the US, China and Vietnam. |
|
|
In 2015, machinery and equipment investment
turned around to record a positive growth of 5.8%. According to MATRADE
Malaysia, the exports of machinery, appliances and parts to Japan had
increased by RM98 million in 2015 compared to 2014. However, export to China
is decreased in 2015. Moreover, Machinery, appliances and parts also one of the
major import products in Malaysia that is 8.9% of all total import products. |
|
|
Under Budget 2016, Government will focus
into chemical, electrical and electronics, machinery and equipment, aerospace
and medical devices industries as well as services. For this, RM730 million
is allocated to funds under the Malaysian Investment Development Authority
(MIDA). |
|
|
The Government has identified the M&E
industry to be one of the key areas for growth and development. The growth
will focus on the manufacture of high value-added and high technology
M&E. For the further development of the M&E industry, six strategic
thrusts have been set during the Third Industrial Master Plan (IMP3), 2006 -
2020 period:- |
|
|
- Promoting Malaysia as a regional
production, trading and distribution centre for M&E |
|
|
- Rising the development and promotion of
selected specialized and high technology M&E |
|
|
- Strengthening the engineering support
industries and support services |
|
|
- Developing Malaysian Standards for
machinery and equipment |
|
|
- Developing sufficient highly skilled
workforce |
|
|
- Strengthening the institutional support
for the further development of the industry |
|
|
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) |
|
ALPHA TECHNIC AUTOMATION SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
MYR |
MYR |
|
TURNOVER |
2,449,984 |
2,250,376 |
|
---------------- |
---------------- |
|
|
Total Turnover |
2,449,984 |
2,250,376 |
|
Costs of Goods Sold |
(1,519,258) |
(1,180,415) |
|
---------------- |
---------------- |
|
|
Gross Profit |
930,726 |
1,069,961 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
221,054 |
350,668 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
221,054 |
350,668 |
|
Taxation |
(51,205) |
(58,620) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
169,849 |
292,048 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
150,995 |
(141,053) |
|
---------------- |
---------------- |
|
|
As restated |
150,995 |
(141,053) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
320,844 |
150,995 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
320,844 |
150,995 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Hire purchase |
929 |
1,194 |
|
---------------- |
---------------- |
|
|
929 |
1,194 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
44,579 |
45,193 |
|
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
44,579 |
45,193 |
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
ALPHA TECHNIC AUTOMATION SDN. BHD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
138,052 |
177,985 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
138,052 |
177,985 |
|
CURRENT ASSETS |
||
|
Stocks |
407,280 |
360,369 |
|
Contract work-in-progress |
525,384 |
387,707 |
|
Trade debtors |
41,045 |
9,146 |
|
Cash & bank balances |
205,655 |
118,934 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,179,364 |
876,156 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,317,416 |
1,054,141 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
374,263 |
289,830 |
|
Other creditors & accruals |
208,607 |
166,450 |
|
Provision for taxation |
- |
28,573 |
|
Lease payables |
4,844 |
4,844 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
587,714 |
489,697 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
591,650 |
386,459 |
|
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
||
|
Lease obligations |
8,858 |
13,449 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
8,858 |
13,449 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
720,844 |
550,995 |
|
============= |
============= |
|
|
FINANCED BY: |
||
|
SHARE CAPITAL |
||
|
Ordinary share capital |
400,000 |
400,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
400,000 |
400,000 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
320,844 |
150,995 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
320,844 |
150,995 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
720,844 |
550,995 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
ALPHA TECHNIC AUTOMATION SDN. BHD. |
|
TYPES OF FUNDS |
||
|
Cash |
205,655 |
118,934 |
|
Net Liquid Funds |
205,655 |
118,934 |
|
Net Liquid Assets |
184,370 |
26,090 |
|
Net Current Assets/(Liabilities) |
591,650 |
386,459 |
|
Net Tangible Assets |
720,844 |
550,995 |
|
Net Monetary Assets |
175,512 |
12,641 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
221,983 |
0 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
266,562 |
397,055 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
8,858 |
13,449 |
|
Total Liabilities |
596,572 |
503,146 |
|
Total Assets |
1,317,416 |
1,054,141 |
|
Net Assets |
720,844 |
550,995 |
|
Net Assets Backing |
720,844 |
550,995 |
|
Shareholders' Funds |
720,844 |
550,995 |
|
Total Share Capital |
400,000 |
400,000 |
|
Total Reserves |
320,844 |
150,995 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
8.87 |
125.94 |
|
Proft/(Loss) Before Tax |
(36.96) |
2,940.80 |
|
Proft/(Loss) After Tax |
(41.84) |
2,465.91 |
|
Total Assets |
24.98 |
84.71 |
|
Total Liabilities |
18.57 |
77.37 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.35 |
0.24 |
|
Liquid Ratio |
1.31 |
1.05 |
|
Current Ratio |
2.01 |
1.79 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
139 |
121 |
|
Debtors Ratio |
6 |
1 |
|
Creditors Ratio |
90 |
90 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.01 |
0.02 |
|
Liabilities Ratio |
0.83 |
0.91 |
|
Times Interest Earned Ratio |
238.95 |
294.69 |
|
Assets Backing Ratio |
1.80 |
1.38 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
9.02 |
15.58 |
|
Net Profit Margin |
6.93 |
12.98 |
|
Return On Net Assets |
30.79 |
63.86 |
|
Return On Capital Employed |
30.42 |
62.34 |
|
Return On Shareholders' Funds/Equity |
23.56 |
53.00 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
|
MYR |
1 |
INR 16.32 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.