|
|
|
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MIRA
INFORM REPORT
|
Report No. : |
492505 |
|
Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SEA EMAAS MARKETING (M) SDN. BHD. |
|
|
|
|
Registered Office : |
Suite B-01-06, Dataran
3 Two,, No. 2, Jalan 19/1, 46300 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
10.07.2017 |
|
|
|
|
Com. Reg. No.: |
1238064-D |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in management consultancy activities n.e.c. |
|
|
|
|
No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
NB |
|
Credit Rating |
Explanation |
Rating Comments |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
Status : |
New Business |
|
|
|
|
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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. |
: |
1238064-D |
|
GST NO. |
: |
N/A |
|
COMPANY
NAME |
: |
SEA
EMAAS MARKETING (M) SDN. BHD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
10/07/2017 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
SUITE
B-01-06, DATARAN 3 TWO,, NO. 2, JALAN 19/1,, 46300 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT
PERSON |
: |
N/A |
|
INDUSTRY
CODE |
: |
70209 |
|
PRINCIPAL
ACTIVITY |
: |
MANAGEMENT
CONSULTANCY ACTIVITIES N.E.C |
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
2.00 DIVIDED INTO |
|
SALES |
: |
N/A |
|
NET
WORTH |
: |
N/A |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER
CHECK |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
N/A |
|
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 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) management consultancy activities n.e.c.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
22/08/2017 |
MYR
2.00 |
|
25/07/2017 |
MYR
2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MS.
KALAIARASI A/P MAHALINGAM + |
10
JALAN ALAMANDA, TAMAN BUKIT BELIMBING, BALAKONG, 43300 SERI KEMBANGAN,
SELANGOR, MALAYSIA. |
660607-10-5954
A0534600 |
1.00 |
50.00 |
|
MR.
VISHNU MUGUNTAN A/L THIRUMANI SELVAM + |
282-02-03,
HERITAGE CONDO, JALAN PAHANG, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
911118-14-5473 |
1.00 |
50.00 |
|
--------------- |
------ |
|||
|
2.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MS.
KALAIARASI A/P MAHALINGAM |
|
Address |
: |
10
JALAN ALAMANDA, TAMAN BUKIT BELIMBING, BALAKONG, 43300 SERI KEMBANGAN,
SELANGOR, MALAYSIA. |
|
IC / PP
No |
: |
A0534600 |
|
New IC
No |
: |
660607-10-5954 |
|
Date of
Birth |
: |
07/06/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
10/07/2017 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
see
below |
|
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 |
624317H |
ATM
BAKTI MARKETING (M) SDN. BHD. |
Director |
07/08/2003 |
50,000.00 |
50.00 |
MYR4,361.00 |
2006 |
- |
25/01/2018 |
|
2 |
1174936M |
ATM
BAKTI MARKETING (SABAH) SDN. BHD. |
Director |
04/02/2016 |
1.00 |
33.33 |
282.00 |
- |
- |
25/01/2018 |
|
3 |
1238064D |
SEA
EMAAS MARKETING (M) SDN. BHD. |
Director |
10/07/2017 |
1.00 |
50.00 |
282.00 |
- |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
000899969D |
KALAIARASI
ENTERPRISE |
SOLE
PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
25/01/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
MR.
VISHNU MUGUNTAN A/L THIRUMANI SELVAM |
|
Address |
: |
282-02-03,
HERITAGE CONDO, JALAN PAHANG, 53000 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
New IC
No |
: |
911118-14-5473 |
|
Date of
Birth |
: |
18/11/1991 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
10/07/2017 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
see
below |
|
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 |
624317H |
ATM
BAKTI MARKETING (M) SDN. BHD. |
Director |
01/10/2013 |
0.00 |
- |
MYR4,361.00 |
2006 |
- |
25/01/2018 |
|
2 |
1174936M |
ATM
BAKTI MARKETING (SABAH) SDN. BHD. |
Director |
04/02/2016 |
1.00 |
33.33 |
282.00 |
- |
- |
25/01/2018 |
|
3 |
1238064D |
SEA
EMAAS MARKETING (M) SDN. BHD. |
Director |
10/07/2017 |
1.00 |
50.00 |
282.00 |
- |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
002104845X |
SIVAPRAKASAM
ENTERPRISE |
SOLE
PROPRIETORSHIP |
23/02/2012 |
100.00 |
- |
25/01/2018 |
|
MANAGEMENT |
No data found in our databank.
|
AUDITOR |
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MR.
KARUNAKARAN A/L KANDIAH |
|
IC / PP
No |
: |
6725549 |
|
|
New IC
No |
: |
620306-07-5783 |
|
|
Address |
: |
13,JALAN
LANG KELABU, KEPONG BARU, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
BANKING |
No Banker found in our databank.
|
ENCUMBRANCE
(S) |
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
CLIENTELE |
No data found in our databank.
OPERATIONS
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) management consultancy
activities n.e.c.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
N/A |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
G-5-2,
BLOCK G, JALAN GC 9, GLOMAC CYBER 4 63000 CYBERJAYA SELANGOR |
|
Current
Address |
: |
,
MALAYSIA. |
|
Match |
: |
N/A |
|
Latest
Financial Accounts |
: |
NO |
Other
Investigations
We were unable to contact the Subject and its Directors.
We contacted the Subject's Company Secretary but she refused to disclose any
information on the Subject.
We were unable to verify the address provided.
On 21st February we contacted the numbers we found at
0-126841136,60-1123679314,60-163478134,60-1123679314 but they are not answered
despite contacting on numerous times.
FINANCIAL ANALYSIS
|
|
No
latest financial accounts are available at the Registry Office, thus we are
not able to comment on the Subject's financial performance. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population
( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross
Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.3 |
5.4 |
|
Domestic
Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private
Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption
( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment
( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public
Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption
( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment
( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
Balance
of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government
Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation
( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment
Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net
International Reserves ( MYR Billion ) |
417 |
390 |
391 |
- |
- |
|
Average
Risk-Weighted Capital Adequacy Ratio ( % ) |
4.00 |
3.50 |
- |
- |
- |
|
Average
3 Months of Non-performing Loans ( % ) |
2.10 |
2.00 |
1.90 |
- |
- |
|
Average
Base Lending Rate ( % ) |
6.85 |
6.79 |
6.81 |
6.73 |
- |
|
Business
Loans Disbursed( % ) |
18.6 |
2.2 |
- |
- |
- |
|
Foreign
Investment ( MYR Million ) |
43,486.6 |
43,435.0 |
- |
- |
- |
|
Consumer
Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration
of New Companies ( No. ) |
49,203 |
45,658 |
43,255 |
- |
- |
|
Registration
of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
- |
- |
|
Liquidation
of Companies ( No. ) |
11,099 |
7,066 |
- |
- |
- |
|
Liquidation
of Companies ( % ) |
(19.5) |
(36.3) |
- |
- |
- |
|
Registration
of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
- |
- |
|
Registration
of New Business ( % ) |
1.0 |
9.0 |
3.0 |
- |
- |
|
Business
Dissolved ( No. ) |
21,436 |
- |
- |
- |
- |
|
Business
Dissolved ( % ) |
18.0 |
- |
- |
- |
- |
|
Sales
of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular
Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist
Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel
Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit
Cards Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad
Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual
Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
Individual
Bankruptcy ( % ) |
1.7 |
(17.4) |
- |
- |
- |
|
INDUSTRIES
( % of Growth ): |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Agriculture |
2.0 |
1.3 |
(5.1) |
5.6 |
2.4 |
|
Palm
Oil |
6.7 |
7.0 |
(12.7) |
11.8 |
- |
|
Rubber |
(10.4) |
(11.0) |
(6.3) |
10.8 |
- |
|
Forestry
& Logging |
(4.2) |
(7.2) |
(3.0) |
(15.0) |
- |
|
Fishing |
2.7 |
2.1 |
2.2 |
0.2 |
- |
|
Other
Agriculture |
6.2 |
6.0 |
5.1 |
2.4 |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
303.8 |
343.7 |
420.3 |
- |
- |
|
% of
Industry Non-Performing Loans |
1.4 |
1.5 |
1.8 |
- |
- |
|
Mining |
3.3 |
5.3 |
2.2 |
0.5 |
0.9 |
|
Oil
& Gas |
3.0 |
3.5 |
4.5 |
- |
- |
|
Other
Mining |
46.6 |
47.1 |
42.6 |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
63.5 |
180.1 |
190.0 |
- |
- |
|
% of
Industry Non-performing Loans |
0.3 |
0.8 |
0.8 |
- |
- |
|
Manufacturing
# |
6.1 |
4.9 |
4.4 |
5.5 |
5.3 |
|
Exported-oriented
Industries |
7.1 |
6.5 |
4.3 |
6.5 |
- |
|
Electrical
& Electronics |
11.8 |
9.2 |
6.8 |
9.3 |
- |
|
Rubber
Products |
(1.3) |
5.1 |
5.0 |
6.9 |
- |
|
Wood
Products |
7.8 |
7.0 |
7.8 |
7.3 |
- |
|
Textiles
& Apparel |
10.8 |
7.5 |
7.5 |
7.4 |
- |
|
Domestic-oriented
Industries |
7.7 |
4.7 |
3.4 |
6.2 |
- |
|
Food,
Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
11.0 |
- |
|
Chemical
& Chemical Products |
1.4 |
3.5 |
4.5 |
3.5 |
- |
|
Plastic
Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron
& Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated
Metal Products |
2.8 |
4.6 |
5.6 |
4.6 |
- |
|
Non-metallic
Mineral |
6.9 |
6.8 |
6.3 |
5.4 |
- |
|
Transport
Equipment |
14.4 |
5.2 |
(3.1) |
4.7 |
- |
|
Paper
& Paper Products |
4.7 |
3.2 |
5.4 |
5.8 |
- |
|
Crude
Oil Refineries |
13.0 |
14.3 |
13.7 |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
5,730.8 |
4,243.7 |
4,214.1 |
- |
- |
|
% of
Industry Non-Performing Loans |
25.6 |
19.0 |
18.5 |
- |
- |
|
Construction |
11.7 |
8.2 |
7.4 |
7.6 |
7.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
1,666.4 |
1,638.0 |
1,793.9 |
- |
- |
|
% of
Industry Non-Performing Loans |
7.5 |
7.3 |
7.9 |
- |
- |
|
Services |
6.6 |
5.1 |
5.6 |
5.9 |
5.8 |
|
Electric,
Gas & Water |
3.8 |
3.6 |
5.4 |
2.5 |
2.6 |
|
Transport,
Storage & Communication |
7.70 |
7.55 |
6.85 |
7.35 |
7.30 |
|
Wholesale,
Retail, Hotel & Restaurant |
7.70 |
6.65 |
6.65 |
7.05 |
6.65 |
|
Finance,
Insurance & Real Estate |
5.15 |
2.90 |
4.70 |
5.70 |
5.90 |
|
Government
Services |
6.3 |
4.0 |
4.9 |
4.4 |
4.5 |
|
Other
Services |
4.8 |
4.7 |
4.8 |
5.3 |
5.3 |
|
Industry
Non-Performing Loans ( MYR Million ) |
5,373.5 |
6,806.6 |
7,190.6 |
- |
- |
|
% of
Industry Non-Performing Loans |
24.1 |
30.5 |
31.5 |
- |
- |
|
*
Estimate / Preliminary |
|||||
|
**
Forecast |
|||||
|
# Based
On Manufacturing Production Index |
|||||
INDUSTRY ANALYSIS
|
|
MSIC
CODE |
|
|
70209 :
Other management consultancy activities n.e.c |
|
|
INDUSTRY
: |
BUSINESS
SERVICES |
|
The
services sector is projected to grow by 5.4% in 2016 (2015: 5.7%), increasing
its share to 54% of GDP (2015: 53.8%) with all subsectors continuing to
expand. The services sector continues playing an important role in driving
the Malaysia economy. |
|
|
The
services sector is projected to grow 5.8% in year 2018, increasing its share
to 54.8% of GDP (2017: 5.9%; 54.5%) with all subsectors continuing to expand.
The services sector recorded an increase of 6.1% during the first half of
2017 (January – June 2016: 5.4%) driven by improvement in wholesale and
retail trade; food & beverages and accommodation; information and
communication; and finance and insurance subsectors. |
|
|
Value
added of services sector increased further by 6.1% during the first half of
2017 (January – |
|
|
June
2016: 5.4%) mainly driven by strong domestic consumption activities. In 2017,
the sector is expected to record 5.9% growth, accounting for 54.5% of GDP
(2016: 5.6%; 54.3%). The final services group is projected to sustain at 6%
(2016: 6%) led by the wholesale and retail trade as well as the food &
beverages and accommodation subsectors. The intermediate services group is
anticipated to grow 6.4% (2016: 5.5%) supported by the information and communication
as well as finance and insurance subsectors. Meanwhile, government services
subsector is expected to increase 4.4% (2016: 4.9%). |
|
|
The
wholesale and retail trade subsector recorded a stronger growth of 7%
(January – June 2016: 5.9%) supported by higher consumer spending. The retail
segment increased 9.6% (January – June 2016: 6.3%) driven by sales in
non-specialised stores and other goods in specialised stores which recorded
double-digit growth of 12.5% and 13.3%, respectively (January – June 2016:
8.3%; 8.4%). The wholesale segment grew 5.8% (January – June 2016: 8.4%) led
by other specialised wholesale (9.7%), household goods (5.2%) as well as
food, beverages and tobacco which rose 9.2% (January – June 2016: 3.4%; 6.6%;
8.1%). Meanwhile, the motor vehicle segment rebounded 2.2% (January – June
2016: -3.9%) following the introduction of new car models and rebates on a
wide range of earlier models. This was reflected in sales of motor vehicles
which turned around 2.2% to RM39.6 billion, while parts and accessories
increased 5.4% to RM16.9 billion (January – June 2016: -7.1%; RM38.8 billion;
2.2%; RM16 billion). In 2017, the subsector is expected to expand further by
6.5%(2016: 6.2%). |
|
|
The
food & beverages and accommodation subsector increased 7.2% (January –
June 2016: 6.6%). The food & beverages segment expanded 7.9% (January –
June 2016: 7.4%) driven by increased spending on dining at restaurants.
Meanwhile, the accommodation segment grew 4.8% (January – June 2016: 4%)
mainly supported by domestic tourism activities, opening of new budget hotels
and aggressive online promotions. Tourist arrivals contracted 1.5% during the
first eight months of 2017 (January – August 2016: 3.8%). Nevertheless, the
introduction of new direct flights to the country as well as the hosting of
the ASEAN Para Games, Formula 1 Petronas Malaysia Grand Prix and Shell
Malaysia Motorcycle Grand Prix are expected to support growth of the segment.
For the year, the subsector is projected to grow 7.6% (2016: 7.1%). |
|
|
The
information and communication subsector recorded a strong growth of 8.3%
(January – June 2016: 8.6%). The communication segment remained as the major
contributor to growth, sustaining its pace at 9.3% (January – June 2016:
9.8%) following aggressive promotional activities by telecommunication
companies and introduction of new telephone models. Meanwhile, information
segment grew 5.7% (January – June 2016: 3.6%) and computer services rose 6.4%
(January – June 2016: 7%). The subsector is expected to sustain its strong
growth momentum expanding 8.5% in 2017 (2016: 8.1%) supported by the
launching of latest smartphone models, price reductions on earlier premium
models and an increase in subscriptions to value added services offered by
telecommunication companies. |
|
|
The
finance and insurance subsector expanded further by 4.3% (January – June
2016: 0.8%) led by financing activities. The finance segment increased
strongly by 4.8% on account of higher growth in FISIM;1 and interest and
fee-based incomes (January – June 2016: 0.02%). The insurance segment grew at
a slower pace of 2.8% (January – June 2016: 3.4%) following moderate premium
income. In 2017, the subsector is expected to grow 4.2% (2016: 2.5%). |
|
|
The
real estate and business services subsector increased 7.3% (January – June
2016: 6.7%). The business services segment recorded a growth of 8.4% (January
– June 2016: 7.7%). Growth was driven by sustained demand for professional
services, particularly engineering services in the construction sector, and
legal and accounting services. Meanwhile, the real estate segment expanded
4.9% (January – June 2016: 4.6%). Growth was partly due to strong performance
in the construction sector, incentives and rebates offered by developers,
increase in civil servants’ housing loan eligibility and flexibility in
purchasing homes under 1Malaysia Civil Servants Housing (PPA1M) scheme. For
the whole year, the subsector is anticipated to increase 7.2% (2016: 6.9%). |
|
|
The
utilities subsector increased at a slower pace of 2.2% (January – June 2016:
6.1%) due to lower demand from households following the waning effect of El
Niño. The electricity and gas segment moderated 1.2% (January – June 2016:
5.8%). |
|
|
The
other services subsector increased 5.3% (January – June 2016: 4.6%) with
private education and health expanding 6.5% and 5.4%, respectively (January –
June 2016: 6.7%; 5.6%). As at end-July 2017, there were 495 private higher
education institutions nationwide (end-July 2016: 496), comprising 10 foreign
university branch campuses, 53 private universities and 35 university
colleges as well as 397 private colleges. Meanwhile, the number of healthcare
travellers in private hospitals recorded 494,326 (January – June 2016:
460,338) with patients from Indonesia constituting 55.5% or 274,244 of total
healthcare travellers. For the year, the subsector is expected to expand 5.3%
(2016: 4.8%) supported by strong demand for private education as well as
high-quality and affordable healthcare services. Meanwhile, the government
services subsector grew 4.8% (January – June 2016: 5.2%) supported by
expenditure in emoluments. In 2017, the subsector is projected to increase
4.4% (2016: 4.9%). |
|
|
The
services sector remained the primary driver of the economy and leading
generator of job opportunities, accounting for 54.3% of GDP, 17.6% of the
country’s total exports of goods and services and provided 8.8 million
employment. |
|
|
To
sustain the role of the services sector as the key driver of growth, the
Government will accelerate the implementation of the Services Sector
Blueprint, and the Logistics and Trade Facilitation Masterplan. Within the
services sector, the Government’s emphasis is on the development of tourism,
including medical tourism, logistics and venture capital industries. |
|
|
OVERALL
INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
FINANCIAL ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.81 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 79.94 |
|
MYR |
1 |
INR 16.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.