|
|
|
MIRA INFORM REPORT
|
Report No. : |
491933 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOTAL WELD INDUSTRIES |
|
|
|
|
Registered Office : |
A-1-4 Kompleks Industri Puchong, 47100 Puchong, Selangor, |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
01.08.2014 |
|
|
|
|
Com. Reg. No.: |
SA0304557-D |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of machineries. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC OVERVIEW
Malaysia, an upper middle-income country, has transformed itself since the 1970s from a producer of raw materials into a multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move further up the value-added production chain by attracting investments in high technology, knowledge-based industries and services. NAJIB's Economic Transformation Program is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.
The NAJIB administration is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Domestic demand continues to anchor economic growth, supported mainly by private consumption, which accounts for 53% of GDP. Nevertheless, exports - particularly of electronics, oil and gas, and palm oil - remain a significant driver of the economy. In 2015, gross exports of goods and services were equivalent to 73% of GDP. The oil and gas sector supplied about 22% of government revenue in 2015, down significantly from prior years amid a decline in commodity prices and diversification of government revenues. Malaysia has embarked on a fiscal reform program aimed at achieving a balanced budget by 2020, including rationalization of subsidies and the 2015 introduction of a 6% value added tax. Sustained low commodity prices throughout the period not only strained government finances, but also shrunk Malaysia’s current account surplus and weighed heavily on the Malaysian ringgit, which was among the region’s worst performing currencies during 2013-17. The ringgit hit new lows following the US presidential election amid a broader selloff of emerging market assets.
Bank Negara Malaysia (the central bank) maintains adequate foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments, although it remains vulnerable to volatile global capital flows. In order to increase Malaysia’s competitiveness, Prime Minister NAJIB raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program, policies that favor and advance the economic condition of ethnic Malays.
Malaysia signed the 12-nation Trans-Pacific Partnership (TPP) free trade agreement in February 2016, although the future of the TPP remains unclear following the US withdrawal from the agreement. Along with nine other ASEAN members, Malaysia established the ASEAN Economic Community in 2015, which aims to advance regional economic integration.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
SA0304557-D |
|
GST NO. |
: |
001802166272 |
|
COMPANY NAME |
: |
TOTAL WELD INDUSTRIES |
|
COMMENCEMENT DATE |
: |
01/08/2014 |
|
REGISTRATION DATE |
: |
01/08/2014 |
|
EXPIRY DATE |
: |
31/07/2022 |
|
COMPANY STATUS |
: |
ACTIVE |
|
BUSINESS CONSTITUTION |
: |
SOLE PROPRIETORSHIP |
|
BUSINESS ADDRESS |
: |
A-1-4 KOMPLEKS INDUSTRI PUCHONG, 47100 PUCHONG, SELANGOR,
MALAYSIA. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
N/A |
|
INDUSTRY CODE |
: |
465 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF MACHINERIES |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
PAYMENT |
: |
UNKNOWN |
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
N/A |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
The Subject commenced its business on 01/08/2014 as a SOLE
PROPRIETORSHIP.
The Subject is a sole proprietorship, that is, it has a single
owner whose liabilities are unlimited. In case the Subject is unable to meet
all its obligations, the creditors can claim on the owner's personal assets.
The sole proprietorship ceases upon the death of the owner or any time at the
discretion of the owner. The ownership is non-transferable. Under the law, the
Subject has to file in its information with Registrar of Business but it is not
required to file in its financial statements.
The Subject is principally engaged in the (as a / as an) trading
of machineries.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The owner of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. WONG KOK YOKE |
NO. 10, JALAN 16, DESA JAYA, KEPONG , 52100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
730514-14-5261 A2482935 |
100.00 |
100.00 |
|
--------------- |
------ |
|||
|
100.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
OWNERS
|
OWNER(S) 1
|
Name Of Subject |
: |
MR. WONG KOK YOKE |
|
Address |
: |
NO. 10, JALAN 16, DESA JAYA, KEPONG, 52100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A2482935 |
|
New IC No |
: |
730514-14-5261 |
|
Date of Birth |
: |
14/05/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/08/2014 |
|
Shareholding |
: |
100% |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Court |
As At |
|
1 |
59540X |
KEMAJUAN AIR - CONDITIONING & TRADING SDN. BHD. |
Director |
0.00 |
- |
25/01/2018 |
|
|
2 |
774158U |
TOTAL WELD SDN. BHD. |
Director |
12,000.00 |
- |
25/01/2018 |
Note : ROC - Disolved, WU - Windup
INTEREST IN BUSINESS
|
Business |
Position |
Shareholding |
As At |
|
ACTRON TECHNOLOGY SUPPLIES & TRADING |
PARTNERSHIP |
50.00 |
25/01/2018 |
|
SENZ TECH ENGINEERING WORKS |
SOLE PROPRIETORSHIP |
100.00 |
25/01/2018 |
|
TOTAL WELD INDUSTRIES |
SOLE PROPRIETORSHIP |
100.00 |
25/01/2018 |
MANAGEMENT
|
No data found in our databank.
AUDITOR
|
No Auditor found in our databank
BANKING
|
No Banker found in our databank.
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.
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 |
CLIENTELE
|
No data found in our databank.
OPERATIONS
|
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of machineries.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
6 03 5887 1935 |
|
Current Telephone Number |
: |
N/A |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
A-1-4, KOMPLEXS INDUSTRI PUCHONG, JALAN TPP 1/6, TAMAN
PERINDUSTRIAN PUCHONG, 47100 PUCHONG SELANGOR |
|
Current Address |
: |
A-1-4 KOMPLEKS INDUSTRI PUCHONG, 47100 PUCHONG, SELANGOR,
MALAYSIA. |
|
Match |
: |
N/A |
Other Investigations
We were unable to contact the Subject and its Owner.
We tried contacting the contact number provided at 6 03 5887 1935 but it is not
answered.
We were unable to verify the address provided.
FINANCIAL
ANALYSIS
|
|
We are unable to comment on the Subject financial position as
the Subject is not required by the law to file its financial statement in the
Registrar of Business. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
MALAYSIA
ECONOMIC / IloNDUSTRY 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 |
|
|
465 : Wholesale of 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 |
|
FINANCIAL
ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.92 |
|
|
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
|
MYR |
1 |
INR 16.45 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.