|
|
|
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%20SDN%20%20BHD%20%20-%20490859%2013-Feb-2018_files/image010.gif)
MIRA INFORM REPORT
|
Report No. : |
490859 |
|
Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL SPECIALTY INGREDIENTS (M) SDN. BHD. |
|
|
|
|
Registered Office : |
32, Lorong Angsa, Taman
Berkeley, 41150 Klang, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2015 |
|
|
|
|
Date of Incorporation : |
09.09.2008 |
|
|
|
|
Com. Reg. No.: |
832177-M |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in trading in food flavours, food additives
and ingredients. |
|
|
|
|
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 |
|
Status : |
Good |
|
|
|
|
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. |
: |
832177-M |
||||
|
GST NO. |
: |
000703594496 |
||||
|
COMPANY
NAME |
: |
GLOBAL
SPECIALTY INGREDIENTS (M) SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
09/09/2008 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
32,
LORONG ANGSA, TAMAN BERKELEY, 41150 KLANG, SELANGOR, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
LOT
202, JALAN SUNGAI PINANG 5/7, PULAU INDAH INDUSTRIAL PARK, PHASE 2A, 42920
PULAU INDAH, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31013500 |
||||
|
FAX.NO. |
: |
03-31014500 |
||||
|
WEB
SITE |
: |
WWW.GSI-WORLDWIDE.COM |
||||
|
CONTACT
PERSON |
: |
JAYA
SHELAH ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
47219 |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
IN FOOD FLAVOURS, FOOD ADDITIVES AND INGREDIENTS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
3,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
29,997,019 [2015] |
||||
|
NET
WORTH |
: |
MYR
1,582,140 [2015] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
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 in food flavours, food additives and ingredients.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At
Date |
|
3-1,
JALAN TIARA 2B, BANDRA BARU KLANG, 41150, SELANGOR, MALAYSIA |
30/11/2011 |
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
25/01/2018 |
MYR
5,000,000.00 |
MYR
3,000,000.00 |
|
23/08/2016 |
MYR
5,000,000.00 |
MYR
2,000,000.00 |
|
20/09/2013 |
MYR
400,000.00 |
MYR
300,000.00 |
|
16/08/2013 |
MYR
400,000.00 |
MYR
2.00 |
|
15/02/2013 |
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.
ROBERT BASKER A/L ANTONY + |
23, JALAN
DELIMA 7, AMBANG BOTANIC 1, 41200 KLANG, SELANGOR, MALAYSIA. |
630201-06-5027
6950634 |
1,500,000.00 |
50.00 |
|
MS.
JAYA SHELAH A/P P SUBRAMANIAM + |
A-2-6,
BBK CONDO, PERSIARAN BUKIT RAJA 1, BANDAR BARU KLANG, 41150 KLANG, SELANGOR,
MALAYSIA. |
730518-14-5410
A2483892 |
1,500,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
3,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
Former
Shareholder(s) :
|
Name |
Country |
IC/PP/Loc
No |
Shareholding |
Last
Updated |
|
CHITRA
A/P PATMANABHAN |
MALAYSIA |
750822-04-5316 |
1.00 |
N/A |
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
1160519H |
MALAYSIA |
BIOMANZ
INNOVATIONS SDN. BHD. |
- |
40.00 |
25/01/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MR.
ROBERT BASKER A/L ANTONY |
|
Address |
: |
23,
JALAN DELIMA 7, AMBANG BOTANIC 1, 41200 KLANG, SELANGOR, MALAYSIA. |
|
Other
Address(es) |
: |
NO.A-2-6,
BBK CONDOMINIUM, PERSIARAN BUKIT RAJA 1, BANDAR BARU KLANG, 41150 KLANG,
SELANGOR, MALAYSIA. |
|
IC / PP
No |
: |
6950634 |
|
New IC
No |
: |
630201-06-5027 |
|
Date of
Birth |
: |
01/02/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
12/01/2011 |
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 |
1211427U |
AGILE
FORMERS SDN. BHD. |
Director |
05/12/2016 |
350,001.00 |
33.33 |
- |
- |
- |
25/01/2018 |
|
2 |
837186T |
BEYOND
INNOVATIVE SOLUTIONS (M) SDN. BHD. |
Director |
12/01/2011 |
0.00 |
- |
MYR(1,810.00) |
2015 |
- |
25/01/2018 |
|
3 |
1160519H |
BIOMANZ
INNOVATIONS SDN. BHD. |
Director |
30/09/2015 |
0.00 |
- |
MYR(5,508.00) |
2016 |
- |
25/01/2018 |
|
4 |
1238434U |
DOCWELL
AGRO FOOD INDUSTRIES (M) SDN. BHD. |
Director |
12/07/2017 |
600.00 |
60.00 |
- |
- |
- |
25/01/2018 |
|
5 |
832177M |
GLOBAL
SPECIALTY INGREDIENTS (M) SDN. BHD. |
Director |
12/01/2011 |
1,500,000.00 |
50.00 |
MYR683,367.00 |
2015 |
- |
25/01/2018 |
|
6 |
935208A |
RSV
SPECIALTY PRODUCTS SDN. BHD. |
Director |
07/03/2011 |
1.00 |
33.33 |
- |
- |
- |
25/01/2018 |
|
7 |
1189349D |
SUMWIN
SOLUTIONS MALAYSIA SDN. BHD. |
Director |
27/05/2016 |
0.00 |
- |
MYR366,608.00 |
2017 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
856882P |
AMBM
HOLDINGS SDN. BHD. |
Shareholder |
- |
- |
3000.00 |
- |
|
2 |
854162P |
BESTARI
INOVASI (M) SDN. BHD. |
Director |
20/04/2009 |
22/07/2015 |
- |
- |
|
3 |
854162P |
BESTARI
INOVASI (M) SDN. BHD. |
Shareholder |
- |
- |
1.00 |
- |
|
4 |
657979T |
STRATEGIC
INNOVATIVE MANAGEMENT SDN. BHD. |
Director |
01/07/2004 |
19/11/2005 |
- |
- |
|
5 |
657979T |
STRATEGIC
INNOVATIVE MANAGEMENT SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 2
|
Name Of
Subject |
: |
MS.
JAYA SHELAH A/P P SUBRAMANIAM |
|
Address |
: |
A-2-6,
BBK CONDO, PERSIARAN BUKIT RAJA 1, BANDAR BARU KLANG, 41150 KLANG, SELANGOR,
MALAYSIA. |
|
IC / PP
No |
: |
A2483892 |
|
New IC
No |
: |
730518-14-5410 |
|
Date of
Birth |
: |
18/05/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
09/09/2008 |
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 |
837186T |
BEYOND
INNOVATIVE SOLUTIONS (M) SDN. BHD. |
Director |
31/10/2008 |
1.00 |
33.33 |
MYR(1,810.00) |
2015 |
- |
25/01/2018 |
|
2 |
1160519H |
BIOMANZ
INNOVATIONS SDN. BHD. |
Director |
30/09/2015 |
0.00 |
- |
MYR(5,508.00) |
2016 |
- |
25/01/2018 |
|
3 |
832177M |
GLOBAL
SPECIALTY INGREDIENTS (M) SDN. BHD. |
Director |
09/09/2008 |
1,500,000.00 |
50.00 |
MYR683,367.00 |
2015 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
SA0084891M |
BEYOND
SOLUTIONS |
PARTNERSHIP |
30/04/2008 |
25.00 |
- |
26/12/2017 |
|
2 |
SA0001535V |
GLOBAL
SPECIALTY INGREDIENTS |
SOLE
PROPRIETORSHIP |
27/10/2004 |
100.00 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
704406A |
ASIAN
FOOD INGREDIENTS SDN. BHD. |
Director |
24/11/2008 |
12/10/2010 |
- |
- |
|
2 |
704406A |
ASIAN
FOOD INGREDIENTS SDN. BHD. |
Shareholder |
- |
- |
50000.00 |
- |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP
No |
Appointed
Date |
Withdrawn
Date |
|
CHITRA
A/P PATMANABHAN |
NO 36,
JALAN 32/98,, KEMUNING GREENVILLE, KOTA KEMUNING, SHAH ALAM, SELANGOR,
MALAYSIA |
750822-04-5316 |
09/09/2008 |
12/01/2011 |
Note : The
above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
JAYA
SHELAH |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of
Subject |
: |
JAYA
SHELAH A/P P SUBRAMANIAM |
|
Position |
: |
MANAGER |
|
AUDITOR
|
|
Auditor |
: |
SOONG
& ASSOCIATES |
|
Auditor'
Address |
: |
11-2A,
JALAN PJU 1/3D, SUNWAYMAS COMMERCIAL CENTRE, 47301 PETALING JAYA, SELANGOR,
MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MR. QUAK
CHOOE PENG |
|
IC / PP
No |
: |
5485910 |
|
|
New IC
No |
: |
580825-10-6269 |
|
|
Address |
: |
29,
JALAN KUBAH U8/61, BUKIT JELUTONG, 40150 SHAH ALAM, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC
BANK BHD |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
25/05/2016 |
FACILITIES
AGREEMENT |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
2 |
25/05/2016 |
FACILITIES
AGREEMENT |
HSBC
BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
3 |
19/07/2016 |
1ST
PARTY CHARGE |
RHB
BANK BERHAD |
- |
Unsatisfied |
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 |
|
Import
Countries |
: |
ASIA,UNITED
STATES |
|
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 |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
30 - 60
DAYS |
|||
|
Payment
Mode |
: |
CASH |
|||
|
Type of
Customer |
: |
DEALERS,FOOD
MANUFACTURERS |
|||
OPERATIONS
|
|
Goods
Traded |
: |
FOOD
FLAVOURS, FOOD ADDITIVES & INGREDIENTS |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading in food
flavours, food additives and ingredients.
The Subject offers a wide spectrum of specialty ingredients, functional food
ingredients and natural food ingredients to both Malaysia and International
foods and non food companies.
It is a renowned international ingredients trader and specialty ingredients
suppliers.
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
603-3101-3500/5300
|
|
Current
Telephone Number |
: |
03-31013500 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
LOT 202
JLN SG PINANG 5 7 LULAU INDAH INDST P PARK PHASE 2A PORT KLANG SELANGOR |
|
Current
Address |
: |
LOT
202, JALAN SUNGAI PINANG 5/7, PULAU INDAH INDUSTRIAL PARK, PHASE 2A, 42920
PULAU INDAH, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial
Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The other contact number provided at 31015300 is not answered.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2011 -
2015 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011 -
2015 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
43.19% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
60.31% |
] |
|
|
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 management
have been efficient in controlling its operating costs. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
51 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
38 Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The favourable debtors' days could be
due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Acceptable |
[ |
0.99
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.09
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to improve
its liquidity position either by obtaining short term financing or increase
its paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
59.17
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.38
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 : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. The
Subject's liquidity was at an acceptable range. If the Subject is able to
obtain further short term financing, it should be able to meet all 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 : STABLE |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major
Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population
( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross
Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.3 |
5.4 |
|
Domestic
Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private
Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption
( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment
( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public
Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption
( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment
( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
Balance
of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government
Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation
( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment
Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net
International Reserves ( MYR Billion ) |
417 |
390 |
391 |
- |
- |
|
Average
Risk-Weighted Capital Adequacy Ratio ( % ) |
4.00 |
3.50 |
- |
- |
- |
|
Average
3 Months of Non-performing Loans ( % ) |
2.10 |
2.00 |
1.90 |
- |
- |
|
Average
Base Lending Rate ( % ) |
6.85 |
6.79 |
6.81 |
6.73 |
- |
|
Business
Loans Disbursed( % ) |
18.6 |
2.2 |
- |
- |
- |
|
Foreign
Investment ( MYR Million ) |
43,486.6 |
43,435.0 |
- |
- |
- |
|
Consumer
Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration
of New Companies ( No. ) |
49,203 |
45,658 |
43,255 |
- |
- |
|
Registration
of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
- |
- |
|
Liquidation
of Companies ( No. ) |
11,099 |
7,066 |
- |
- |
- |
|
Liquidation
of Companies ( % ) |
(19.5) |
(36.3) |
- |
- |
- |
|
Registration
of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
- |
- |
|
Registration
of New Business ( % ) |
1.0 |
9.0 |
3.0 |
- |
- |
|
Business
Dissolved ( No. ) |
21,436 |
- |
- |
- |
- |
|
Business
Dissolved ( % ) |
18.0 |
- |
- |
- |
- |
|
Sales
of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular
Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist
Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel
Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit Cards
Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad
Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual
Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
Individual
Bankruptcy ( % ) |
1.7 |
(17.4) |
- |
- |
- |
|
INDUSTRIES
( % of Growth ): |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Agriculture |
2.0 |
1.3 |
(5.1) |
5.6 |
2.4 |
|
Palm
Oil |
6.7 |
7.0 |
(12.7) |
11.8 |
- |
|
Rubber |
(10.4) |
(11.0) |
(6.3) |
10.8 |
- |
|
Forestry
& Logging |
(4.2) |
(7.2) |
(3.0) |
(15.0) |
- |
|
Fishing |
2.7 |
2.1 |
2.2 |
0.2 |
- |
|
Other
Agriculture |
6.2 |
6.0 |
5.1 |
2.4 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
303.8 |
343.7 |
420.3 |
- |
- |
|
% of
Industry Non-Performing Loans |
1.4 |
1.5 |
1.8 |
- |
- |
|
Mining |
3.3 |
5.3 |
2.2 |
0.5 |
0.9 |
|
Oil
& Gas |
3.0 |
3.5 |
4.5 |
- |
- |
|
Other
Mining |
46.6 |
47.1 |
42.6 |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
63.5 |
180.1 |
190.0 |
- |
- |
|
% of
Industry Non-performing Loans |
0.3 |
0.8 |
0.8 |
- |
- |
|
Manufacturing
# |
6.1 |
4.9 |
4.4 |
5.5 |
5.3 |
|
Exported-oriented
Industries |
7.1 |
6.5 |
4.3 |
6.5 |
- |
|
Electrical
& Electronics |
11.8 |
9.2 |
6.8 |
9.3 |
- |
|
Rubber
Products |
(1.3) |
5.1 |
5.0 |
6.9 |
- |
|
Wood Products |
7.8 |
7.0 |
7.8 |
7.3 |
- |
|
Textiles
& Apparel |
10.8 |
7.5 |
7.5 |
7.4 |
- |
|
Domestic-oriented
Industries |
7.7 |
4.7 |
3.4 |
6.2 |
- |
|
Food,
Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
11.0 |
- |
|
Chemical
& Chemical Products |
1.4 |
3.5 |
4.5 |
3.5 |
- |
|
Plastic
Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron
& Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated
Metal Products |
2.8 |
4.6 |
5.6 |
4.6 |
- |
|
Non-metallic
Mineral |
6.9 |
6.8 |
6.3 |
5.4 |
- |
|
Transport
Equipment |
14.4 |
5.2 |
(3.1) |
4.7 |
- |
|
Paper
& Paper Products |
4.7 |
3.2 |
5.4 |
5.8 |
- |
|
Crude
Oil Refineries |
13.0 |
14.3 |
13.7 |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
5,730.8 |
4,243.7 |
4,214.1 |
- |
- |
|
% of
Industry Non-Performing Loans |
25.6 |
19.0 |
18.5 |
- |
- |
|
Construction |
11.7 |
8.2 |
7.4 |
7.6 |
7.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
1,666.4 |
1,638.0 |
1,793.9 |
- |
- |
|
% of
Industry Non-Performing Loans |
7.5 |
7.3 |
7.9 |
- |
- |
|
Services |
6.6 |
5.1 |
5.6 |
5.9 |
5.8 |
|
Electric,
Gas & Water |
3.8 |
3.6 |
5.4 |
2.5 |
2.6 |
|
Transport,
Storage & Communication |
7.70 |
7.55 |
6.85 |
7.35 |
7.30 |
|
Wholesale,
Retail, Hotel & Restaurant |
7.70 |
6.65 |
6.65 |
7.05 |
6.65 |
|
Finance,
Insurance & Real Estate |
5.15 |
2.90 |
4.70 |
5.70 |
5.90 |
|
Government
Services |
6.3 |
4.0 |
4.9 |
4.4 |
4.5 |
|
Other
Services |
4.8 |
4.7 |
4.8 |
5.3 |
5.3 |
|
Industry
Non-Performing Loans ( MYR Million ) |
5,373.5 |
6,806.6 |
7,190.6 |
- |
- |
|
% of Industry
Non-Performing Loans |
24.1 |
30.5 |
31.5 |
- |
- |
|
*
Estimate / Preliminary |
|||||
|
**
Forecast |
|||||
|
# Based
On Manufacturing Production Index |
|||||
INDUSTRY ANALYSIS
|
|
MSIC
CODE |
|
|
47219 :
Retail sale of other food products n.e.c. |
|
|
INDUSTRY
: |
TRADING |
|
Malaysia's
retail sales will likely grow 3.7% in 2017, slower than previously estimated
3.9%, as consumer sentiment remains weak amid rising cost of living in Southeast
Asia's third largest economy. |
|
|
The cut
in forecast was the second of such revision by Retail Group Malaysia, a
retail consulting firm, from an initial target of 5% retail sales expansion
pace in 2017. The estimate follows a survey of members of Malaysia Retailers
Association on their second quarter performance and outlook for the year.
Retail sales grew 1.7% in 2016. |
|
|
According
to Retail Group Malaysia (RGM), Malaysian retailers have seen the sales
expanded 4.9 % from April to June 2017, reversing a dismal performance in
first three months 2017. For the first six months 2016, the retail sale
growth rate was 2.5 %. However, the businesses in the next three months are
not optimistic, estimating an average growth rate of 2.9 %. The department
stores cum supermarket operators are expecting to return to red with a
contraction of 2.5 %. Similarly, the department store operators expect their
businesses to dip with a negative 1.5 %. |
|
|
The rise
of purchasing power will continue to fall behind the increase in prices of
retail goods. More retail goods are expected to raise prices because of
higher fuel prices in recent months. |
|
|
The
wholesale trade sub-sector index increased 5.9 % to 165.9 points year-on-year
(y-o-y) driven mainly by other specialised wholesale (7.5 %), wholesale of
agricultural raw materials and livestock (7.3 %) and wholesale of machinery,
equipment and supplies (6.2 %). |
|
|
Over
60% of Gross Domestic Product (GDP) is contributed by domestic consumption.
Therefore the wholesale and retail sector plays a crucial role in driving
Malaysia's growth over the next decade despite the ongoing global economic
slowdown. By 2020, Malaysia's wholesale and retail sector is expected to
boost the country's total Gross National Income (GNI) by RM156 billion,
creating 454,190 new jobs. |
|
|
OVERALL
INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL
REPORTING STANDARDS(FRS) |
|
GLOBAL
SPECIALTY INGREDIENTS (M) 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 |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
29,997,019 |
20,201,649 |
2,872,778 |
10,018,994 |
9,363,252 |
|
Other Income |
538,459 |
214,889 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
30,535,478 |
20,416,538 |
2,872,778 |
10,018,994 |
9,363,252 |
|
Costs
of Goods Sold |
(24,086,741) |
(16,615,664) |
(2,536,523) |
(8,676,443) |
(8,374,777) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
6,448,737 |
3,800,874 |
336,255 |
1,342,551 |
988,475 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
938,067 |
821,016 |
85,816 |
163,993 |
97,706 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
938,067 |
821,016 |
85,816 |
163,993 |
97,706 |
|
Taxation |
(254,700) |
(198,000) |
(48,329) |
(77,008) |
(52,700) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
683,367 |
623,016 |
37,487 |
86,985 |
45,006 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
598,773 |
(24,243) |
(61,730) |
(148,715) |
(193,721) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
598,773 |
(24,243) |
(61,730) |
(148,715) |
(193,721) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
1,282,140 |
598,773 |
(24,243) |
(61,730) |
(148,715) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
1,282,140 |
598,773 |
(24,243) |
(61,730) |
(148,715) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
16,125 |
13,935 |
20,941 |
25,775 |
28,451 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
16,125 |
13,935 |
20,941 |
25,775 |
28,451 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
205,576 |
139,531 |
151,447 |
145,047 |
140,303 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
205,576 |
139,531 |
151,447 |
145,047 |
140,303 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
GLOBAL SPECIALTY
INGREDIENTS (M) SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
1,522,645 |
795,602 |
293,219 |
439,280 |
536,883 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,522,645 |
795,602 |
293,219 |
439,280 |
536,883 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
626,179 |
592,151 |
- |
435,919 |
518,772 |
|
Trade
debtors |
4,199,545 |
1,662,581 |
114,445 |
710,128 |
928,815 |
|
Other
debtors, deposits & prepayments |
748,113 |
1,106,187 |
703,466 |
25,404 |
23,528 |
|
Amount
due from director |
- |
121,947 |
- |
- |
- |
|
Cash
& bank balances |
1,098,484 |
1,506,085 |
170,863 |
391,934 |
271,476 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
6,672,321 |
4,988,951 |
988,774 |
1,563,385 |
1,742,591 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
8,194,966 |
5,784,553 |
1,281,993 |
2,002,665 |
2,279,474 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
2,481,550 |
3,508,752 |
361,117 |
949,017 |
1,291,632 |
|
Other
creditors & accruals |
83,208 |
998,101 |
171,426 |
100,727 |
62,475 |
|
Hire
purchase & lease creditors |
135,427 |
62,634 |
59,888 |
71,903 |
67,069 |
|
Amounts
owing to related companies |
2,769,816 |
- |
- |
- |
- |
|
Amounts
owing to director |
545,484 |
- |
176,693 |
497,486 |
564,149 |
|
Provision
for taxation |
115,567 |
184,392 |
43,800 |
112,000 |
49,300 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
6,131,052 |
4,753,879 |
812,924 |
1,731,133 |
2,034,625 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
541,269 |
235,072 |
175,850 |
(167,748) |
(292,034) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
|||||
|
Hire
purchase creditors |
467,374 |
117,501 |
178,912 |
318,260 |
390,162 |
|
Deferred
taxation |
14,400 |
14,400 |
14,400 |
15,000 |
3,400 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
481,774 |
131,901 |
193,312 |
333,260 |
393,562 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
1,582,140 |
898,773 |
275,757 |
(61,728) |
(148,713) |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
300,000 |
300,000 |
300,000 |
2 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
300,000 |
300,000 |
300,000 |
2 |
2 |
|
RESERVES |
|||||
|
Retained
profit/(loss) carried forward |
1,282,140 |
598,773 |
(24,243) |
(61,730) |
(148,715) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
1,282,140 |
598,773 |
(24,243) |
(61,730) |
(148,715) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
1,582,140 |
898,773 |
275,757 |
(61,728) |
(148,713) |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
GLOBAL
SPECIALTY INGREDIENTS (M) SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
1,098,484 |
1,506,085 |
170,863 |
391,934 |
271,476 |
|
Net
Liquid Funds |
1,098,484 |
1,506,085 |
170,863 |
391,934 |
271,476 |
|
Net
Liquid Assets |
(84,910) |
(357,079) |
175,850 |
(603,667) |
(810,806) |
|
Net
Current Assets/(Liabilities) |
541,269 |
235,072 |
175,850 |
(167,748) |
(292,034) |
|
Net
Tangible Assets |
1,582,140 |
898,773 |
275,757 |
(61,728) |
(148,713) |
|
Net
Monetary Assets |
(566,684) |
(488,980) |
(17,462) |
(936,927) |
(1,204,368) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
954,192 |
834,951 |
106,757 |
189,768 |
126,157 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,159,768 |
974,482 |
258,204 |
334,815 |
266,460 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
602,801 |
180,135 |
238,800 |
390,163 |
457,231 |
|
Total
Liabilities |
6,612,826 |
4,885,780 |
1,006,236 |
2,064,393 |
2,428,187 |
|
Total
Assets |
8,194,966 |
5,784,553 |
1,281,993 |
2,002,665 |
2,279,474 |
|
Net
Assets |
1,582,140 |
898,773 |
275,757 |
(61,728) |
(148,713) |
|
Net
Assets Backing |
1,582,140 |
898,773 |
275,757 |
(61,728) |
(148,713) |
|
Shareholders'
Funds |
1,582,140 |
898,773 |
275,757 |
(61,728) |
(148,713) |
|
Total
Share Capital |
300,000 |
300,000 |
300,000 |
2 |
2 |
|
Total
Reserves |
1,282,140 |
598,773 |
(24,243) |
(61,730) |
(148,715) |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
48.49 |
603.21 |
(71.33) |
7.00 |
47.18 |
|
Proft/(Loss)
Before Tax |
14.26 |
856.72 |
(47.67) |
67.84 |
321.34 |
|
Proft/(Loss)
After Tax |
9.69 |
1,561.95 |
(56.90) |
93.27 |
184.66 |
|
Total
Assets |
41.67 |
351.22 |
(35.99) |
(12.14) |
19.80 |
|
Total
Liabilities |
34.88 |
385.55 |
(51.26) |
(14.98) |
15.82 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.18 |
0.32 |
0.21 |
0.23 |
0.13 |
|
Liquid
Ratio |
0.99 |
0.92 |
1.22 |
0.65 |
0.60 |
|
Current
Ratio |
1.09 |
1.05 |
1.22 |
0.90 |
0.86 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
8 |
11 |
0 |
16 |
20 |
|
Debtors
Ratio |
51 |
30 |
15 |
26 |
36 |
|
Creditors
Ratio |
38 |
77 |
52 |
40 |
56 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.38 |
0.20 |
0.87 |
(6.32) |
(3.07) |
|
Liabilities
Ratio |
4.18 |
5.44 |
3.65 |
(33.44) |
(16.33) |
|
Times
Interest Earned Ratio |
59.17 |
59.92 |
5.10 |
7.36 |
4.43 |
|
Assets
Backing Ratio |
5.27 |
3.00 |
0.92 |
(30,864.00) |
(74,356.50) |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
3.13 |
4.06 |
2.99 |
1.64 |
1.04 |
|
Net
Profit Margin |
2.28 |
3.08 |
1.30 |
0.87 |
0.48 |
|
Return
On Net Assets |
60.31 |
92.90 |
38.71 |
(307.43) |
(84.83) |
|
Return
On Capital Employed |
43.39 |
76.37 |
20.18 |
55.26 |
40.45 |
|
Return
On Shareholders' Funds/Equity |
43.19 |
69.32 |
13.59 |
(140.92) |
(30.26) |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
|
MYR |
1 |
INR 16.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.