|
|
|
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%20SDN%20%20BHD%20%20-%20492405%2015-Feb-2018_files/image010.gif)
MIRA INFORM REPORT
|
Report No. : |
492405 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
|
|
|
|
Formerly Known As : |
YE CHIU MANUFACTURING (M) SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 1301, 13th Floor, City Plaza, Jalan Tebrau, 80300
Johor Bahru, Johor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
18.04.2013 |
|
|
|
|
Com. Reg. No.: |
1042951-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing of aluminium alloy
ingots, scraps. |
|
|
|
|
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC
OVERVIEW
Malaysia, an upper middle-income country, has transformed itself since the 1970s from a producer of raw materials into a multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move further up the value-added production chain by attracting investments in high technology, knowledge-based industries and services. NAJIB's Economic Transformation Program is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.
The NAJIB administration is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Domestic demand continues to anchor economic growth, supported mainly by private consumption, which accounts for 53% of GDP. Nevertheless, exports - particularly of electronics, oil and gas, and palm oil - remain a significant driver of the economy. In 2015, gross exports of goods and services were equivalent to 73% of GDP. The oil and gas sector supplied about 22% of government revenue in 2015, down significantly from prior years amid a decline in commodity prices and diversification of government revenues. Malaysia has embarked on a fiscal reform program aimed at achieving a balanced budget by 2020, including rationalization of subsidies and the 2015 introduction of a 6% value added tax. Sustained low commodity prices throughout the period not only strained government finances, but also shrunk Malaysia’s current account surplus and weighed heavily on the Malaysian ringgit, which was among the region’s worst performing currencies during 2015. The ringgit rebounded in early 2016, but 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. |
: |
1042951-D |
||||
|
COMPANY NAME |
: |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
||||
|
FORMER NAME |
: |
YE CHIU MANUFACTURING (M) SDN. BHD. (17/06/2013) |
||||
|
INCORPORATION DATE |
: |
18/04/2013 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
SUITE 1301, 13TH FLOOR, CITY PLAZA, JALAN TEBRAU, 80300 JOHOR
BAHRU, JOHOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
PLO 28, JALAN NIBONG 3, KOMPLEKS PERINDUSTRIAN, 81700 PASIR
GUDANG, JOHOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
07-2518763 |
||||
|
FAX.NO. |
: |
07-2512633 |
||||
|
HP.NO. |
: |
0127799478 |
||||
|
WEB SITE |
: |
WWW.YECHIU.COM |
||||
|
CONTACT PERSON |
: |
LEE YEE HUI ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
24202 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF ALUMINIUM ALLOY INGOTS, SCRAPS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 200,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 107,188,484.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 727,838,594 [2016] |
||||
|
NET WORTH |
: |
MYR 120,897,735 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
SLOW BUT CORRECT |
||||
|
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) manufacturing of aluminium alloy ingots, scraps.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The ultimate holding company of the Subject is WONDER RESULT
HOLDINGS LIMITED, a company incorporated in SAMOA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
31/05/2016 |
MYR 200,000,000.00 |
MYR 107,188,484.00 |
|
10/08/2015 |
MYR 100,000,000.00 |
MYR 86,188,484.00 |
|
24/12/2014 |
MYR 100,000,000.00 |
MYR 66,188,484.00 |
|
18/12/2014 |
MYR 100,000,000.00 |
MYR 52,308,000.00 |
|
28/11/2014 |
MYR 100,000,000.00 |
MYR 34,001,000.00 |
|
28/08/2014 |
MYR 100,000,000.00 |
MYR 20,001,000.00 |
|
18/04/2013 |
MYR 400,000.00 |
MYR 1,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
YE CHIU METAL SMELTING SDN. BHD. |
PLO 37 & 472, JALAN KELULI, KAWASAN PERINDUSTRIAN PASIR GUDANG,
81700 PASIR GUDANG, JOHOR, MALAYSIA. |
125292T |
107,188,484.00 |
100.00 |
|
--------------- |
------ |
|||
|
107,188,484.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. LEE YEE HUI |
|
Address |
: |
TRICOR CORPORATE SERVICES SDN BHD, SUITE 1301, 13TH FLOOR, CITY
PLAZA, JALAN TEBRAU, 80300 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
4805445 |
|
New IC No |
: |
550608-10-6177 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/08/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
363547X |
CHEERISE SDN. BHD. |
Director |
12/04/1996 |
0.00 |
- |
MYR(5,002.00) |
2015 |
- |
23/10/2017 |
|
2 |
125292T |
YE CHIU METAL SMELTING SDN. BHD. |
Director |
16/08/1995 |
0.00 |
- |
MYR37,484,686.00 |
2016 |
- |
23/10/2017 |
|
3 |
1042951D |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
Director |
26/08/2013 |
0.00 |
- |
MYR14,448,205.00 |
2016 |
- |
23/10/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. LIN SHENG-CHIH |
|
Address |
: |
38, BLOCK 2, JALAN TANJONG PUTERI, TANJONG PUTERI RESORT, 81700
PASIR GUDANG, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
308528207/M16997950 |
|
Date of Birth |
: |
20/05/1963 |
|
Nationality |
: |
TAIWANESE |
|
Date of Appointment |
: |
26/06/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
363547X |
CHEERISE SDN. BHD. |
Director |
20/05/2002 |
7,000,000.00 |
70.00 |
MYR(5,002.00) |
2015 |
- |
23/10/2017 |
|
2 |
1035009U |
YC GROUP RESOURCES SDN. BHD. |
Director |
18/02/2013 |
1.00 |
1.00 |
MYR(7,388.00) |
2016 |
- |
23/10/2017 |
|
3 |
125292T |
YE CHIU METAL SMELTING SDN. BHD. |
Director |
16/08/1985 |
0.00 |
- |
MYR37,484,686.00 |
2016 |
- |
23/10/2017 |
|
4 |
1042951D |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
Director |
26/06/2013 |
0.00 |
- |
MYR14,448,205.00 |
2016 |
- |
23/10/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. TO BAN GUAN |
|
Address |
: |
18-02, BLOK B, CONDOMINIUM DATIN HALIMAH, LARKIN, 80350 JOHOR
BAHRU, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
A0396089 |
|
New IC No |
: |
660403-01-5957 |
|
Date of Birth |
: |
03/04/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/08/2013 |
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 |
1062183P |
SELESA REALTY SDN. BHD. |
Shareholder |
- |
7,500.00 |
7.50 |
MYR201.00 |
2016 |
- |
23/10/2017 |
|
2 |
1042951D |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
Director |
26/08/2013 |
0.00 |
- |
MYR14,448,205.00 |
2016 |
- |
23/10/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
125292T |
YE CHIU METAL SMELTING SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 4
|
Name Of Subject |
: |
MR. HUAN KOK SY |
|
Address |
: |
60, JALAN JINGGA, TAMAN PELANGI, 80400 JOHOR BAHRU, JOHOR, MALAYSIA. |
|
Other Address(es) |
: |
NO 118 SEROM 6, 84410 SUNGAI MATI, MUAR,JOHOR., MALAYSIA. |
|
IC / PP No |
: |
A1640993 |
|
New IC No |
: |
680707-01-5751 |
|
Date of Birth |
: |
07/07/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
18/04/2013 |
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 |
1071428V |
SYNTECH PRECISION & ENGINEERING SDN. BHD. |
Director |
07/03/2014 |
80,000.00 |
20.00 |
MYR(129,696.00) |
2015 |
- |
23/10/2017 |
|
2 |
125292T |
YE CHIU METAL SMELTING SDN. BHD. |
Director |
17/11/2015 |
0.00 |
- |
MYR37,484,686.00 |
2016 |
- |
23/10/2017 |
|
3 |
1042951D |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
Director |
18/04/2013 |
0.00 |
- |
MYR14,448,205.00 |
2016 |
- |
23/10/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
379265K |
GREATMATE TRADING SDN. BHD. |
Director |
09/03/1996 |
15/09/1997 |
- |
- |
DIRECTOR 5
|
Name Of Subject |
: |
MR. HUANG CHUNG SHENG |
|
Address |
: |
38, BLOCK 2, JALAN TANJONG PUTERI, TANJONG PUTERI RESORT, 81700
PASIR GUDANG, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
301622654 |
|
Date of Birth |
: |
15/08/1957 |
|
Nationality |
: |
TAIWANESE |
|
Date of Appointment |
: |
26/08/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
363547X |
CHEERISE SDN. BHD. |
Director |
28/12/2012 |
3,000,000.00 |
30.00 |
MYR(5,002.00) |
2015 |
- |
23/10/2017 |
|
2 |
1035009U |
YC GROUP RESOURCES SDN. BHD. |
Director |
18/02/2013 |
49.00 |
49.00 |
MYR(7,388.00) |
2016 |
- |
23/10/2017 |
|
3 |
125292T |
YE CHIU METAL SMELTING SDN. BHD. |
Director |
18/08/1984 |
0.00 |
- |
MYR37,484,686.00 |
2016 |
- |
23/10/2017 |
|
4 |
1042951D |
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
Director |
26/08/2013 |
0.00 |
- |
MYR14,448,205.00 |
2016 |
- |
23/10/2017 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
WONG KENG LEE |
26, JALAN AUSTIN HEIGHTS 2/6, TAMAN MOUNT AUSTIN, JOHOR BAHRU,
JOHOR, MALAYSIA |
760903-01-6743 |
18/04/2013 |
26/08/2013 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LEE YEE HUI |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
DELOITTE PLT |
|
Auditor' Address |
: |
21, JALAN TUN ABDUL RAZAK, SUSUR 1/1, 80000 JOHOR BAHRU, JOHOR,
MALAYSIA. |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. YONG MAY LI |
|
IC / PP No |
: |
8200619 |
|
|
New IC No |
: |
560419-01-5064 |
|
|
Address |
: |
25, JALAN SETIA 5/2, TAMAN SETIA INDAH, 81100 JOHOR BAHRU,
JOHOR, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MS. IRENE JUAY YEE LUAN |
|
IC / PP No |
: |
A3024214 |
|
|
New IC No |
: |
750430-01-7260 |
|
|
Address |
: |
17, JALAN INDAH 18/2, TAMAN BUKIT INDAH, 81200 JOHOR BAHRU,
JOHOR, MALAYSIA. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
20/11/2014 |
DEBENTURE |
MAYBANK ISLAMIC BERHAD |
USD 36,489,428.24 |
Unsatisfied |
|
2 |
20/11/2014 |
DEBENTURE |
BANGKOK BANK BERHAD |
- |
Unsatisfied |
|
3 |
23/12/2014 |
LEGAL CHARGE |
MAYBANK ISLAMIC BERHAD |
- |
Unsatisfied |
|
4 |
23/12/2014 |
LEGAL CHARGE |
BANGKOK BANK BERHAD |
- |
Unsatisfied |
|
5 |
23/12/2014 |
LEGAL CHARGE |
MAYBANK ISLAMIC BERHAD |
MYR 74,606,150.05 |
Unsatisfied |
LITIGATION CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank againt 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
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 |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
Competitor(s) |
: |
ALUMINIUM COMPANY OF MALAYSIA BHD |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
aluminium alloy ingots, scraps.
The Group engaged in the aluminum scrap to produce secondary aluminum ingots,
aluminum ingots and also trades in various ferrous and non ferrous scrap.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
07-2518763 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
PLO 28, JALAN NIBONG 3, KOMPLEKS PERINDUSTRIAN, 81700 PASIR
GUDANG, JOHOR |
|
Current Address |
: |
PLO 28, JALAN NIBONG 3, KOMPLEKS PERINDUSTRIAN, 81700 PASIR
GUDANG, JOHOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and he
provided some information.
He refused to disclose the number of employees.
FINANCIAL
ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
939.61% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2,252.79% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.95% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
10.92% |
] |
|
|
The increase in turnover could be due to the Subject adopting an
aggressive marketing strategy.The higher profit could be attributed to the
increase in turnover. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
112 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
2 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The
Subject's management was quite efficient in handling its debtors. The
Subject's debtors days were at an acceptable range, thus the risk of its
debts turning bad was minimised. 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 |
: |
Unfavourable |
[ |
0.49 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.10 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working capital
deficiency. If the Subject cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
5.16 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.08 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no
sharp fall in its profit or sudden increase in the interest rates, we believe
the Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was highly geared, thus it had a high financial
risk. The Subject was dependent on loans to finance its business needs. In
times of economic downturn and / or high interest rate, the Subject will
become less profitable and competitive than other firms in the same industry,
which are lowly geared. This is because the Subject has to service the
interest and to repay the loan, which will erode part of its profits. The
profits will fluctuate depending on the Subject's turnover and the interest
it needs to pay. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. The Subject had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. The
Subject's gearing level was high and its going concern will be in doubt if
there is no injection of additional shareholders' funds in times of economic
downturn and / or high interest rates. |
||||||
|
Overall financial condition of the Subject : LIMITED |
||||||
|
|
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2013 |
2014 |
2015 |
2016* |
2017** |
|
Population ( Million) |
29.8 |
30.0 |
31.0 |
31.7 |
32.1 |
|
Gross Domestic Products ( % ) |
5.3 |
6.0 |
4.6 |
4.9 |
4.2 |
|
Domestic Demand ( % ) |
5.6 |
6.4 |
6.2 |
6.3 |
- |
|
Private Expenditure ( % ) |
8.6 |
7.9 |
6.9 |
7.4 |
- |
|
Consumption ( % ) |
5.7 |
6.5 |
6.1 |
5.1 |
- |
|
Investment ( % ) |
13.3 |
12.0 |
8.1 |
10.0 |
12.0 |
|
Public Expenditure ( % ) |
4.4 |
2.3 |
4.2 |
3.3 |
- |
|
Consumption ( % ) |
(1.2) |
2.1 |
4.3 |
2.0 |
- |
|
Investment ( % ) |
4.2 |
2.6 |
(1.0) |
1.1 |
- |
|
Balance of Trade ( MYR Million ) |
71,298 |
82,480 |
91,577 |
52,206 |
- |
|
Government Finance ( MYR Million ) |
(38,584) |
(37,414) |
(37,194) |
(38,727) |
(40,344) |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(3.8) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
|
Inflation ( % Change in Composite CPI) |
2.5 |
3.2 |
4.0 |
- |
- |
|
Unemployment Rate |
3.0 |
2.9 |
3.1 |
3.7 |
3.8 |
|
Net International Reserves ( MYR Billion ) |
422 |
417 |
390 |
391 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.10 |
4.00 |
3.50 |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
2.00 |
2.10 |
2.00 |
1.90 |
- |
|
Average Base Lending Rate ( % ) |
6.53 |
6.85 |
6.79 |
6.81 |
- |
|
Business Loans Disbursed( % ) |
(1.0) |
18.6 |
2.2 |
- |
- |
|
Foreign Investment ( MYR Million ) |
38,238.0 |
43,486.6 |
43,435.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
46,321 |
49,203 |
45,658 |
43,255 |
- |
|
Registration of New Companies ( % ) |
1.9 |
6.1 |
(7.2) |
(5.3) |
- |
|
Liquidation of Companies ( No. ) |
13,788 |
11,099 |
7,066 |
- |
- |
|
Liquidation of Companies ( % ) |
(15.4) |
(19.5) |
(36.3) |
- |
- |
|
Registration of New Business ( No. ) |
329,895 |
332,723 |
364,230 |
376,720 |
- |
|
Registration of New Business ( % ) |
2.0 |
1.0 |
9.0 |
3.0 |
- |
|
Business Dissolved ( No. ) |
18,161 |
21,436 |
- |
- |
- |
|
Business Dissolved ( % ) |
(10.9) |
18.0 |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
576.7 |
598.4 |
591.3 |
464.4 |
527.8 |
|
Cellular Phone Subscribers ( Million ) |
43.0 |
44.0 |
44.2 |
44.0 |
- |
|
Tourist Arrival ( Million Persons ) |
25.72 |
27.40 |
25.70 |
30.20 |
30.10 |
|
Hotel Occupancy Rate ( % ) |
62.6 |
63.6 |
58.8 |
61.2 |
- |
|
Credit Cards Spending ( % ) |
6.0 |
5.8 |
6.8 |
6.3 |
- |
|
Bad Cheque Offenders (No.) |
28,876 |
- |
- |
- |
- |
|
Individual Bankruptcy ( No.) |
21,984 |
22,351 |
18,457 |
- |
- |
|
Individual Bankruptcy ( % ) |
12.3 |
1.7 |
(17.4) |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2013 |
2014 |
2015 |
2016* |
2017** |
|
Agriculture |
2.0 |
2.1 |
1.2 |
(3.3) |
1.5 |
|
Palm Oil |
2.6 |
6.7 |
7.0 |
8.2 |
- |
|
Rubber |
(10.1) |
(10.4) |
(11.0) |
(12.3) |
- |
|
Forestry & Logging |
(7.8) |
(4.2) |
(7.2) |
(4.8) |
- |
|
Fishing |
1.6 |
2.7 |
2.1 |
2.9 |
- |
|
Other Agriculture |
8.2 |
6.2 |
6.0 |
6.8 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
314.9 |
303.8 |
343.7 |
420.3 |
- |
|
% of Industry Non-Performing Loans |
1.4 |
1.4 |
1.5 |
1.8 |
- |
|
Mining |
1.2 |
3.5 |
4.7 |
1.1 |
1.4 |
|
Oil & Gas |
2.0 |
3.0 |
3.5 |
4.5 |
- |
|
Other Mining |
47.6 |
46.6 |
47.1 |
42.6 |
- |
|
Industry Non-performing Loans ( MYR Million ) |
152.7 |
63.5 |
180.1 |
190.0 |
- |
|
% of Industry Non-performing Loans |
0.7 |
0.3 |
0.8 |
0.8 |
- |
|
Manufacturing # |
3.4 |
6.2 |
4.9 |
4.0 |
4.1 |
|
Exported-oriented Industries |
3.3 |
5.6 |
4.8 |
4.7 |
- |
|
Electrical & Electronics |
6.9 |
11.8 |
9.2 |
7.0 |
- |
|
Rubber Products |
11.7 |
(1.3) |
5.1 |
3.9 |
- |
|
Wood Products |
(2.7) |
7.8 |
7.0 |
7.0 |
- |
|
Textiles & Apparel |
(2.6) |
10.8 |
7.5 |
6.7 |
- |
|
Domestic-oriented Industries |
5.9 |
7.7 |
4.7 |
3.0 |
- |
|
Food, Beverages & Tobacco |
3.6 |
6.1 |
8.9 |
7.5 |
- |
|
Chemical & Chemical Products |
5.6 |
1.4 |
3.5 |
5.1 |
- |
|
Plastic Products |
3.4 |
2.7 |
3.9 |
5.1 |
- |
|
Iron & Steel |
5.0 |
2.8 |
1.6 |
2.2 |
- |
|
Fabricated Metal Products |
9.9 |
2.8 |
4.6 |
5.1 |
- |
|
Non-metallic Mineral |
(2.0) |
6.9 |
6.8 |
5.5 |
- |
|
Transport Equipment |
13.8 |
14.4 |
5.2 |
(3.1) |
- |
|
Paper & Paper Products |
1.8 |
4.7 |
3.2 |
3.9 |
- |
|
Crude Oil Refineries |
11.8 |
13.0 |
14.3 |
13.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,165.3 |
5,730.8 |
4,243.7 |
4,214.1 |
- |
|
% of Industry Non-Performing Loans |
27.2 |
25.6 |
19.0 |
18.5 |
- |
|
Construction |
10.6 |
11.7 |
8.2 |
8.7 |
8.3 |
|
Industry Non-Performing Loans ( MYR Million ) |
1,658.2 |
1,666.4 |
1,638.0 |
1,793.9 |
- |
|
% of Industry Non-Performing Loans |
7.3 |
7.5 |
7.3 |
7.9 |
- |
|
Services |
5.9 |
6.6 |
5.1 |
5.6 |
5.7 |
|
Electric, Gas & Water |
4.4 |
3.8 |
3.5 |
5.9 |
5.0 |
|
Transport, Storage & Communication |
7.30 |
7.50 |
7.55 |
7.55 |
7.70 |
|
Wholesale, Retail, Hotel & Restaurant |
6.3 |
8.9 |
6.9 |
6.2 |
6.7 |
|
Finance, Insurance & Real Estate |
3.7 |
4.7 |
4.3 |
6.6 |
- |
|
Government Services |
7.4 |
6.2 |
4.0 |
6.5 |
4.5 |
|
Other Services |
5.6 |
4.8 |
4.7 |
4.6 |
5.3 |
|
Industry Non-Performing Loans ( MYR Million ) |
5,084.6 |
5,373.5 |
6,806.6 |
7,190.6 |
- |
|
% of Industry Non-Performing Loans |
22.5 |
24.1 |
30.5 |
31.5 |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
MSIC CODE |
|
|
24202 : Production of aluminium from alumina |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is expected to grow by 4.3% in 2015.
Export-oriented industries are expected to benefit from higher demand as a result
of improving growth in advanced economies, while domestic-oriented industries
will be boosted by resilient domestic economic activities. The resource-based
industry is envisaged to grow steadily attributed to improved demand for
chemical, petroleum, rubber, wood and plastic products. In addition, strong
construction activities following the implementation of infrastructure
projects under the 11MP will augur well for growth in iron and steel as well
as cement segments. |
|
|
In first six months of 2015,
the sector expanded at a slower pace of 4.9%. Output of the sector moderated
to 4.8% while the sales value of manufactured products grew marginally by
0.1% to RM379.9 billion during the first seven months of 2015. Output from export-oriented
industries also increased at a slower pace of 5.3% due to weaker global
demand. The manufacturing sector continued to attract domestic and foreign
investments, with projects approved by the Malaysian Investment Development
Authority (MIDA) valued at RM49.5 billion for the first six months of 2015. |
|
|
Besides that, production of
wood and wood products rose by 7.1% largely supported by higher demand for
wooden and cane furniture as well as particleboard and fibreboard with output
up by 6.5% and 35.4%, respectively. The overall positive performance of the
wood products sub-sector was attributed to higher demand from the US,
Singapore and Australia. Output of rubber products rebounded to 3.4%, mainly
due to higher output of rubber gloves and rubber tires for vehicles. The
rubber-based industry stands to benefit from the strengthening US dollar, as
most of the input costs are in ringgit while sales are in US dollar. |
|
|
Exports of manufactured goods
decreased by 3% due to the high base effect during the corresponding period
in year 2014. Although, a weak ringgit should have bolstered exports,
however, softened by weak external demand coupled with the depreciation in
regional currencies during the period. During the first eight months of 2015,
the slower expansion in E&E exports and weaker earnings from the
non-E&E segment weighed down the overall exports of manufactured goods.
Receipts from chemicals and chemical products continued to grow, albeit at a
slower pace of 5.7%, mainly due to a slack in the demand for organic chemical
products (-3.5%) as major markets. However, the overall growth in the
sub-sector was supported by higher exports of plastics in primary form. |
|
|
In addition, export earnings of
wood products remained high at RM9.8 billion during the first eight months of
2015, it supported by strong demand for wooden furniture. demand for veneer
and plywood, contracted by 7.4% following lower demand mainly from Japan.
Exports of textile, clothing and footwear grew at a slower pace of 6.8%
mainly due to a contraction in the exports of the textile segment,
particularly textile yarns and woven fabrics. During the first eight months
of 2015, the total registered foreign workers in the country increased to 2.2
million. The employment of foreign workers was largely concentrated in the
manufacturing sectors. Under the 11MP, the Government will improve the
management of foreign workers through the establishment of an improved
framework to take into consideration the relevant laws, rules, regulations,
national policies and directives relating to recruitment, employment and
repatriation of workers. |
|
|
Under budget 2015, the
Government will provide a new incentive that is, Special Reinvestment
Allowance to promote reinvestment among existing companies in the
manufacturing sectors. The rate of claim is at 60% of the qualifying capital
expenditure and is allowed to be set off against 70% of statutory income from
year of assessment 2016 to 2018. |
|
|
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) |
|
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
|
Months |
12 |
12 |
12 |
8 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
727,838,594 |
70,010,871 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
727,838,594 |
70,010,871 |
- |
- |
|
Costs of Goods Sold |
(675,295,492) |
(65,647,994) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
52,543,102 |
4,362,877 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
20,775,709 |
883,026 |
(609,680) |
(25,467) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
20,775,709 |
883,026 |
(609,680) |
(25,467) |
|
Taxation |
(6,327,504) |
(981,665) |
(5,168) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
14,448,205 |
(98,639) |
(614,848) |
(25,467) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
(738,954) |
(640,315) |
(25,467) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(738,954) |
(640,315) |
(25,467) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
13,709,251 |
(738,954) |
(640,315) |
(25,467) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
13,709,251 |
(738,954) |
(640,315) |
(25,467) |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Term loan / Borrowing |
4,995,303 |
2,078,341 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,995,303 |
2,078,341 |
- |
- |
|
|
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
10,052,778 |
332,855 |
332,855 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
10,052,778 |
332,855 |
332,855 |
- |
|
|
============= |
============= |
============= |
||
|
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
198,628,876 |
195,558,043 |
86,392,257 |
- |
|
Computer software |
1,685,242 |
45,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
1,685,242 |
45,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
200,314,118 |
195,603,043 |
86,392,257 |
- |
|
Stocks |
224,165,478 |
147,487,337 |
- |
- |
|
Trade debtors |
121,791,770 |
30,123,839 |
- |
- |
|
Other debtors, deposits & prepayments |
1,785,810 |
2,264,778 |
975,926 |
3,775,080 |
|
Short term deposits |
1,410,819 |
1,353,300 |
1,300,000 |
- |
|
Amount due from related companies |
- |
1,995,974 |
- |
- |
|
Cash & bank balances |
59,456,331 |
9,401,803 |
4,123,067 |
286,624 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
408,610,208 |
192,627,031 |
6,398,993 |
4,061,704 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
608,924,326 |
388,230,074 |
92,791,250 |
4,061,704 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
4,483,935 |
1,573,505 |
- |
- |
|
Other creditors & accruals |
10,815,379 |
14,999,726 |
6,481,899 |
1,665 |
|
Short term borrowings/Term loans |
17,736,749 |
- |
- |
- |
|
Amounts owing to holding company |
324,141,728 |
200,082,258 |
20,756,150 |
4,084,506 |
|
Amounts owing to related companies |
12,148,178 |
7,671,686 |
- |
- |
|
Provision for taxation |
2,097,668 |
17,900 |
5,032 |
- |
|
Other liabilities |
1,534,461 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
372,958,098 |
224,345,075 |
27,243,081 |
4,086,171 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
35,652,110 |
(31,718,044) |
(20,844,088) |
(24,467) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
235,966,228 |
163,884,999 |
65,548,169 |
(24,467) |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
107,188,484 |
86,188,484 |
66,188,484 |
1,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
107,188,484 |
86,188,484 |
66,188,484 |
1,000 |
|
Retained profit/(loss) carried forward |
13,709,251 |
(738,954) |
(640,315) |
(25,467) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
13,709,251 |
(738,954) |
(640,315) |
(25,467) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
120,897,735 |
85,449,530 |
65,548,169 |
(24,467) |
|
Other long term borrowings |
112,923,493 |
77,482,469 |
- |
- |
|
Deferred taxation |
2,145,000 |
953,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
115,068,493 |
78,435,469 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
235,966,228 |
163,884,999 |
65,548,169 |
(24,467) |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
YE CHIU NON-FERROUS METAL (M) SDN. BHD. |
|
TYPES OF FUNDS |
||||
|
Cash |
60,867,150 |
10,755,103 |
5,423,067 |
286,624 |
|
Net Liquid Funds |
60,867,150 |
10,755,103 |
5,423,067 |
286,624 |
|
Net Liquid Assets |
(188,513,368) |
(179,205,381) |
(20,844,088) |
(24,467) |
|
Net Current Assets/(Liabilities) |
35,652,110 |
(31,718,044) |
(20,844,088) |
(24,467) |
|
Net Tangible Assets |
234,280,986 |
163,839,999 |
65,548,169 |
(24,467) |
|
Net Monetary Assets |
(303,581,861) |
(257,640,850) |
(20,844,088) |
(24,467) |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
25,771,012 |
2,961,367 |
(609,680) |
(25,467) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
35,823,790 |
3,294,222 |
(276,825) |
(25,467) |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
130,660,242 |
77,482,469 |
0 |
0 |
|
Total Liabilities |
488,026,591 |
302,780,544 |
27,243,081 |
4,086,171 |
|
Total Assets |
608,924,326 |
388,230,074 |
92,791,250 |
4,061,704 |
|
Net Assets |
235,966,228 |
163,884,999 |
65,548,169 |
(24,467) |
|
Net Assets Backing |
120,897,735 |
85,449,530 |
65,548,169 |
(24,467) |
|
Shareholders' Funds |
120,897,735 |
85,449,530 |
65,548,169 |
(24,467) |
|
Total Share Capital |
107,188,484 |
86,188,484 |
66,188,484 |
1,000 |
|
Total Reserves |
13,709,251 |
(738,954) |
(640,315) |
(25,467) |
|
GROWTH RATIOS (Year on Year) |
||||
|
Revenue |
939.61 |
- |
- |
- |
|
Proft/(Loss) Before Tax |
2,252.79 |
244.83 |
(2,294.00) |
- |
|
Proft/(Loss) After Tax |
14,747.56 |
83.96 |
(2,314.29) |
- |
|
Total Assets |
56.85 |
318.39 |
2,184.54 |
- |
|
Total Liabilities |
61.18 |
1,011.40 |
566.71 |
- |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.16 |
0.05 |
0.20 |
0.07 |
|
Liquid Ratio |
0.49 |
0.20 |
0.23 |
0.99 |
|
Current Ratio |
1.10 |
0.86 |
0.23 |
0.99 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
112 |
769 |
0 |
0 |
|
Debtors Ratio |
61 |
157 |
0 |
0 |
|
Creditors Ratio |
2 |
9 |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
1.08 |
0.91 |
0 |
0 |
|
Liabilities Ratio |
4.04 |
3.54 |
0.42 |
(167.01) |
|
Times Interest Earned Ratio |
5.16 |
1.42 |
0 |
0 |
|
Assets Backing Ratio |
2.19 |
1.90 |
0.99 |
(24.47) |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
2.85 |
1.26 |
0 |
0 |
|
Net Profit Margin |
1.99 |
(0.14) |
0 |
0 |
|
Return On Net Assets |
10.92 |
1.81 |
(0.93) |
104.09 |
|
Return On Capital Employed |
10.84 |
1.81 |
(0.93) |
104.09 |
|
Return On Shareholders' Funds/Equity |
11.95 |
(0.12) |
(0.94) |
104.09 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.13 |
|
|
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
|
MYR |
1 |
INR 16.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.