|
|
|
MIRA
INFORM REPORT
|
Report No. : |
492514 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
AL MINERALS MALAYSIA SDN. BHD. |
|
|
|
|
Registered Office : |
30 Lorong 6a/91, Taman
Shamelin Perkasa, 56100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
29.08.2017 |
|
|
|
|
Com. Reg. No.: |
1245238-V |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in real estate
activities with own or leased property, trading of industrial sand. |
|
|
|
|
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. |
: |
1245238-V |
|
GST NO. |
: |
N/A |
|
COMPANY
NAME |
: |
AL
MINERALS MALAYSIA SDN. BHD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
29/08/2017 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
30
LORONG 6A/91, TAMAN SHAMELIN PERKASA, 56100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
BUSINESS
ADDRESS |
: |
609,
LORONG PERAK 3 TELOK PANGLIMA GARANG IDNSUTRIAL ESTATE, 42500 TELOK PANGLIMA
GARANG, SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
03-31221101 |
|
FAX.NO. |
: |
03-31228798 |
|
CONTACT
PERSON |
: |
VENKATASALAM
LAKSHMANAN ( DIRECTOR ) |
|
INDUSTRY
CODE |
: |
68109
47520 |
|
PRINCIPAL
ACTIVITY |
: |
REAL
ESTATE ACTIVITIES WITH OWN OR LEASED PROPERTY, TRADING OF INDUSTRIAL SAND |
|
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 |
: |
WEAK |
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
GENERAL
REPUTATION |
: |
NOT YET
DETERMINED |
|
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) real estate activities with own or leased property, trading of
industrial sand.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
02/10/2017 |
MYR
2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
ALAGAPPAN
LAKSHMANAN + |
41
JALAN HAJI ABDUL KARIM 31, OFF JALAN TUN ABDUL RAZAK, 41000 KLANG, SELANGOR,
MALAYSIA. |
H7967739 |
1.00 |
50.00 |
|
MR.
VENKATASALAM LAKSHMANAN + |
41,
JALAN HJ ABDUL KARIM 31, TAMAN SRI ANDALAS, OFF JALAN TUN ABDUL RAZAK, 41000
KLANG, SELANGOR, MALAYSIA. |
640518-75-5017 |
1.00 |
50.00 |
|
--------------- |
------ |
|||
|
2.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
ALAGAPPAN
LAKSHMANAN |
|
Address |
: |
41
JALAN HAJI ABDUL KARIM 31, OFF JALAN TUN ABDUL RAZAK, 41000 KLANG, SELANGOR,
MALAYSIA. |
|
IC / PP
No |
: |
H7967739 |
|
Date of
Birth |
: |
25/06/1968 |
|
Date of
Appointment |
: |
29/08/2017 |
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 |
1245238V |
AL
MINERALS MALAYSIA SDN. BHD. |
Director |
29/08/2017 |
1.00 |
50.00 |
282.00 |
- |
- |
25/01/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
MR.
VENKATASALAM LAKSHMANAN |
|
Address |
: |
41,
JALAN HJ ABDUL KARIM 31, TAMAN SRI ANDALAS, OFF JALAN TUN ABDUL RAZAK, 41000
KLANG, SELANGOR, MALAYSIA. |
|
New IC
No |
: |
640518-75-5017 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
29/08/2017 |
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 |
1245238V |
AL
MINERALS MALAYSIA SDN. BHD. |
Director |
29/08/2017 |
1.00 |
50.00 |
282.00 |
- |
- |
25/01/2018 |
|
2 |
700395W |
ANTARES
PLAS SDN. BHD. |
Director |
14/04/2015 |
725,000.00 |
29.00 |
MYR3,693.00 |
2010 |
- |
25/01/2018 |
|
3 |
25665K |
APOLLO
RUBBER SDN. BHD. |
Director |
29/08/1997 |
0.00 |
- |
MYR191,912.00 |
2006 |
- |
25/01/2018 |
|
4 |
77255P |
CLEAN
AND SAFE HEALTHCARE SDN. BHD. |
Director |
15/10/2012 |
100,000.00 |
10.00 |
MYR(35,248.00) |
2013 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
776903A |
OLINS
RESEARCHLAB CORP. SDN. BHD. |
Director |
13/06/2007 |
23/06/2008 |
- |
- |
|
2 |
776903A |
OLINS
RESEARCHLAB CORP. SDN. BHD. |
Shareholder |
- |
- |
- |
- |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
VENKATASALAM
LAKSHMANAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MR.
ANDREW BRYAN PERERA |
|
IC / PP
No |
: |
4299369 |
|
|
New IC
No |
: |
520709-10-5985 |
|
|
Address |
: |
NO. 2
JALAN BUKIT MEWAH 35, TAMAN BUKIT MEWAH, 43000 KAJANG, SELANGOR, 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 |
The Subject refused to disclose its suppliers.
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods
Traded |
: |
INDUSTRIAL
SAND |
|
|
Services |
: |
REAL
ESTATE ACTIVITIES |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) real estate activities
with own or leased property, trading of industrial sand.
The Subject refused to disclose its operation.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-31221101 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
609,
LORONG PERAK 3 TELOK PANGLIMA GARANG IDNSUTRIAL ESTATE 42500 TELOK PANGLIMA
GARANG, SELANGOR DARU EHSAN |
|
Current
Address |
: |
609,
LORONG PERAK 3 TELOK PANGLIMA GARANG IDNSUTRIAL ESTATE, 42500 TELOK PANGLIMA
GARANG, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
NO |
Other
Investigations
We contacted Ms Yamuna and she only provided limited information on the
Subject.
She refused to disclose the number of employees and bankers.
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 |
|
|
68109 :
Real estate activities with own or leased property n.e.c. |
|
|
47520 :
Retail sale of construction materials, hardware, paints and glass |
|
|
INDUSTRY
: |
PROPERTY
DEVELOPMENT |
|
The
real estate segment increased by 5.4% first six months of 2015. Growth was
mainly contributed by a rebound in industrial property transactions (4.7%)
while commercial property transactions moderated to 1.6%. |
|
|
The
residential sub-sector expanded moderately by 9.8% in the first half of 2015
due to the decline in new housing approvals. During the first six months of
2015, the Klang Valley continued to dominate the incoming supply, accounting
for 29% of the total supply. Housing starts rebounded by 38%, supported by
service apartments as well as condominiums/apartments which accounted for
28.3% (28,541 units) and 22.5% (22,673 units) respectively. The total value
of property transactions declined by 6.6%, while volume contracted by 3.5%
during the first six months of 2015. |
|
|
The
Government initiatives to curb speculative activity, including the Real
Property Gains Tax (RPGT) as well as macro prudential measures to promote
responsible lending, have seen some moderation in the residential property
market. On the other hand, residential transactions declined in the four
major urban areas, namely Kuala Lumpur (-6.4%), Selangor (-1.8%), Johor
(-17.9%) and Pulau Pinang (-14.2%). The residential overhang declined by 8.9%
with a total value of RM4.8 billion during the first half of 2015. However,
unsold units under construction rose by 32.7% to 67,126 units. Johor
accounted for the highest overhang at 23.3% of the total overhang units. |
|
|
Besides,
growth in the non-residential sub-sector grew by 14.5% as reflected in the
expansion of incoming supply, particularly in the shop, shopping complex and
industrial segments at 27.8%, 11.3% and 9.6% respectively. The Purpose-Built
Office (PBO) segment registered a significant increase in construction in the
first half of 2015. The shop overhang increased by 2.2% with a total value of
RM1.9 billion during the period. However, the demand for commercial buildings
remained stable with the average occupancy rate of office and retail space at
84.2% and 81.6%, respectively. |
|
|
The
Bank Negara Malaysia (BNM) rulings announced in 2013 are taking effect
causing banks to be more cautious in their loan criteria and to tighten
property financing to buyers. Therefore, buyers are seeing up to 60% to 70%
in rejection rate at the first instance of loan application. According to
BNM's Monthly Statistical Bulletin for March 2014, in 1Q14, there was 46.6% rejection
rate in terms of loans value. In comparison, 1Q13 saw higher rejection rate
at 54.6%. However some markets like Kuala Lumpur and Selangor are seeing less
overall transactions yet higher total transacted value. This marks a trend
that reflects the nationwide property market trend - total number of
transactions dropping but an increased transaction values for the past three
years. |
|
|
Under
Budget 2015, Government allocate RM40 million to KPKT for reviving abandoned
low and medium-cost private housing projects. In addition, exemption on stamp
duty also given on financing instruments to contractors who revive the
project as well as the original purchaser of the abandoned house. On the
other hand, Government also allocated RM150 million to build and repair
11,000 dilapidated houses in rural areas by KKLW and RM155 million for
maintenance of low-cost public housing and 1Malaysia Maintenance Fund by KPKT
in order to provide a comfortable living environment for the people. |
|
|
OVERALL
INDUSTRY OUTLOOK : Marginal 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 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
MYR |
1 |
INR 16.56 |
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.