|
|
|
MIRA INFORM REPORT
|
Report No. : |
492855 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ASIA MARINE
PRODUCTS SDN. BHD. |
|
|
|
|
Registered Office : |
Unit 26-5, Level 26, Tower A, The Vertical Business
Suites, Bangsar South City, 8, Jalan Kerinchi, 59200 Kuala Lumpur, Wilayah
Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
31.03.1975 |
|
|
|
|
Com. Reg. No.: |
22393-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of marine and seafood. |
|
|
|
|
No. of Employees : |
25 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
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 (30.09.2017) |
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. |
: |
22393-K |
||||
|
GST NO. |
: |
000055271424 |
||||
|
COMPANY NAME |
: |
ASIA MARINE PRODUCTS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
31/03/1975 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
UNIT 26-5, LEVEL 26, TOWER A, THE VERTICAL
BUSINESS SUITES, BANGSAR SOUTH CITY, 8, JALAN KERINCHI, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
15, LEBOH RAYA PETAI, PANDAMARAN INDUSTRIAL
ESTATE, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31689806/31689807/31683527 |
||||
|
FAX.NO. |
: |
03-31683557 |
||||
|
CONTACT PERSON |
: |
TAN SUAN CHEW ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46312 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF MARINE AND SEAFOOD |
||||
|
AUTHORISED CAPITAL |
: |
MYR 10,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 7,045,975.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 74,904,423 [2016] |
||||
|
NET WORTH |
: |
MYR 13,252,355 [2016] |
||||
|
STAFF STRENGTH |
: |
25 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
SLOW BUT CORRECT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
HIGH |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject shall have a minimum one director. A private
limited company is a separate legal entity from its shareholders. As a separate
legal entity, the Subject is capable of owning assets, entering into contracts,
sue or be sued by other companies. The liabilities of the shareholders are to
the extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act, 1965 and the company must file its annual
returns, together with its financial statements with the Registrar of
Companies.
The subject is principally engaged in the (as
a / as an) trading of marine and seafood.
The subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At Date |
|
LOT 824, 8TH FLOOR, KOMPLEK SUN, JALAN
BUKIT BINTANG, 55100, WILAYAH PERSEKUTUAN, MALAYSIA |
12/11/2017 |
|
40-B, JALAN SULTAN ISMAIL, 50250, WILAYAH
PERSEKUTUAN, MALAYSIA |
20/11/2007 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
13/04/2015 |
MYR 10,000,000.00 |
MYR 7,045,975.00 |
|
22/04/2004 |
MYR 5,000,000.00 |
MYR 2,045,975.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. TAN SUAN CHEW + |
8, JALAN 19, OVERSEAS UNION GARDEN, JALAN
KELANG, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
460611-10-5467 1195235 |
4,190,854.00 |
59.48 |
|
MS. QUAK NEE HOONG @ QUAH NEE HOONG + |
8, JALAN 19, OVERSEAS UNION GARDEN, BATU 5,
JALAN KELANG, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
471130-10-5160 3677432 |
1,094,126.00 |
15.53 |
|
MR. TAN YEE SAN + |
8, LORONG HUJAN DUA, TAMAN OVERSEAS UNION, 58200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
740430-14-5677 A2676999 |
819,463.00 |
11.63 |
|
MS. TAN SEE SEE |
8, LORONG HUJAN DUA, TAMAN OVERSEAS UNION,
58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
690811-10-5588 |
235,383.00 |
3.34 |
|
MS. TAN LEE CHENG |
8, LORONG HUJAN DUA, TAMAN OVERSEAS UNION,
58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
700705-10-6292 |
235,383.00 |
3.34 |
|
MS. TAN KIM SIEW |
8, LORONG HUJAN DUA, TAMAN OVERSEAS UNION, 58200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
730119-14-5050 A2481136 |
235,383.00 |
3.34 |
|
MS. TAN KIM CHOOI |
8, LORONG HUJAN DUA, TAMAN OVERSEAS UNION,
58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
780126-14-5740 |
235,383.00 |
3.34 |
|
--------------- |
------ |
|||
|
7,045,975.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
35578K |
MALAYSIA |
ATLANTIC MARINE TRADING SDN. BHD. |
- |
100.00 |
25/01/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. TAN CHOON HAI |
|
Address |
: |
35A, JALAN BERINGIN, 42000 PELABUHAN KLANG,
SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4876146 |
|
New IC No |
: |
550905-10-6229 |
|
Date of Birth |
: |
05/09/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/08/1977 |
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 |
22393K |
ASIA MARINE PRODUCTS SDN. BHD. |
Director |
13/08/1977 |
0.00 |
- |
MYR1,752,509.00 |
2016 |
- |
25/01/2018 |
|
2 |
35578K |
ATLANTIC MARINE TRADING SDN. BHD. |
Director |
- |
0.00 |
- |
MYR(3,685.00) |
2016 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
000577637V |
CHOP AH CHEW |
SOLE PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
25/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. TAN YEE SAN |
|
Address |
: |
8, LORONG HUJAN DUA, TAMAN OVERSEAS UNION,
58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A2676999 |
|
New IC No |
: |
740430-14-5677 |
|
Date of Birth |
: |
30/04/1974 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/01/2001 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
|
Former interest |
: |
see below |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
22393K |
ASIA MARINE PRODUCTS SDN. BHD. |
Director |
11/01/2001 |
819,463.00 |
11.63 |
MYR1,752,509.00 |
2016 |
- |
25/01/2018 |
|
2 |
35578K |
ATLANTIC MARINE TRADING SDN. BHD. |
Director |
21/02/2003 |
0.00 |
- |
MYR(3,685.00) |
2016 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
000102290X |
FOOK LEE FISH MERCHANT (FOOK LEE PERIKANAN) |
PARTNERSHIP |
18/06/2004 |
50.00 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
734925D |
CARNIVALS GATEWAY SDN. BHD. |
Shareholder |
- |
- |
36818.00 |
- |
|
2 |
780184K |
HAIQING-HEYITANG HEALTH CARE MANAGEMENT (M)
SDN. BHD. |
Director |
09/07/2007 |
13/12/2007 |
- |
- |
|
3 |
780184K |
HAIQING-HEYITANG HEALTH CARE MANAGEMENT (M)
SDN. BHD. |
Shareholder |
- |
- |
49.00 |
- |
DIRECTOR 3
|
Name Of Subject |
: |
MS. QUAK NEE HOONG @ QUAH NEE HOONG |
|
Address |
: |
8, JALAN 19, OVERSEAS UNION GARDEN, BATU 5,
JALAN KELANG, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
3677432 |
|
New IC No |
: |
471130-10-5160 |
|
Date of Birth |
: |
30/11/1947 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
13/09/1996 |
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 |
22393K |
ASIA MARINE PRODUCTS SDN. BHD. |
Director |
13/09/1996 |
1,094,126.00 |
15.53 |
MYR1,752,509.00 |
2016 |
- |
25/01/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. TAN SUAN CHEW |
|
Address |
: |
8, JALAN 19, OVERSEAS UNION GARDEN, JALAN
KELANG, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
1195235 |
|
New IC No |
: |
460611-10-5467 |
|
Date of Birth |
: |
11/06/1946 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
31/03/1975 |
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 |
22393K |
ASIA MARINE PRODUCTS SDN. BHD. |
Director |
31/03/1975 |
4,190,854.00 |
59.48 |
MYR1,752,509.00 |
2016 |
- |
25/01/2018 |
|
2 |
35578K |
ATLANTIC MARINE TRADING SDN. BHD. |
Director |
20/10/1977 |
0.00 |
- |
MYR(3,685.00) |
2016 |
- |
25/01/2018 |
|
3 |
323005U |
KUALA LUMPUR HOI SEONG ENTERPRISE BERHAD |
Shareholder |
- |
1,500.00 |
0.86 |
MYR9,999.00 |
2016 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
000102290X |
FOOK LEE FISH MERCHANT (FOOK LEE PERIKANAN) |
PARTNERSHIP |
18/06/2004 |
50.00 |
- |
25/01/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
WANG AH BOO |
7 LORONG BETEK, PORT KELANG, SELANGOR,
PELABUHAN KLANG, SELANGOR, MALAYSIA |
7890593 |
01/01/1970 |
01/06/1996 |
|
TAN CHUAN TENG |
16, PERSIARAN SENTUL ENDAH, SENTUL PASAR,
KUALA LUMPUR, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
3992865 |
31/03/1975 |
02/11/1995 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAN SUAN CHEW |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
CHEW & ASSOCIATES |
|
Auditor' Address |
: |
UNIT 26-8, LEVEL 26, TOWER A, THE VERTICAL
BUSINESS SUITES, BANGSAR SOUTH CITY, 8, JALAN KERINCHI, 59200 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. LAI SOOK HEAN |
|
IC / PP No |
: |
A1854741 |
|
|
New IC No |
: |
710503-08-6122 |
|
|
Address |
: |
206, BLOCK A10, WANGSA MAJU, SECTION 2, 53300
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
2) |
Name |
: |
UNITED OVERSEAS BANK (MALAYSIA) BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 5,600,000.00 |
Satisfied |
|
2 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 165,000.00 |
Satisfied |
|
3 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 485,000.00 |
Satisfied |
|
4 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 685,000.00 |
Satisfied |
|
5 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 897,330.00 |
Satisfied |
|
6 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 705,000.00 |
Satisfied |
|
7 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 1,074,000.00 |
Satisfied |
|
8 |
10/09/1975 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
MYR 1,423,000.00 |
Satisfied |
|
9 |
30/11/1990 |
N/A |
STANDARD CHARTERED BANKMALAYSIA BERHAD |
- |
Satisfied |
|
10 |
15/05/2002 |
LOAN AGREEMENT, LETTER OF GUARANTEE, LETTER
OF SET-OFF & MEMORANDUM OF DEPOSIT |
AMFINANCE BERHAD |
MYR 500,000.00 |
Unsatisfied |
|
11 |
08/01/2004 |
N/A |
MAYBANK ISLAMIC BERHAD |
- |
Satisfied |
|
12 |
10/06/2004 |
N/A |
MALAYAN BANKING BERHAD |
MYR 1,000,000.00 |
Satisfied |
|
13 |
10/09/2007 |
MEMORANDUM OF LEGAL CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BERHAD. |
- |
Unsatisfied |
|
14 |
24/09/2008 |
MEMORANDUM OF CHARGE |
UNITED OVERSEAS BANK (MALAYSIA) BERHAD. |
- |
Unsatisfied |
|
15 |
28/04/2015 |
FIXED CHARGE |
MAYBANK ISLAMIC BERHAD |
- |
Unsatisfied |
|
16 |
16/11/2015 |
1ST PARTY 1ST LEGAL CHARGE |
HONG LEONG BANK BERHAD |
- |
Unsatisfied |
|
17 |
04/09/2017 |
SECURITY AGREEMENT |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the Subject
has been involved in any litigation. Our databank consists of 99% of the wound
up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
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 |
Percentage |
: |
100% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CASH |
|||
OPERATIONS
|
|
Goods Traded |
: |
FROZEN SEAFOOD |
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIA FOOD & BEVERAGE INDUSTRY |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2013 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
25 |
20 |
20 |
20 |
25 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of marine and
seafood.
The Subject is mainly involved in trading of seafood.
The Subject offers various types of local and overseas fishes such as
"Tenggiri" and "Salmon". It also trades other seafood
including squids and crabs.
The Subject is one of the leading supplier of seafood.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-31689806/31689807/31683527 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
15 LEBUH RAYA PETAI, PANDAMARA IND. ESTATE
42000 PORT KLANG SELANGOR |
|
Current Address |
: |
15, LEBOH RAYA PETAI, PANDAMARAN INDUSTRIAL
ESTATE, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some information.
The address also can be used for the Subject.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.22% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
24.59% |
] |
|
|
The Subject's turnover increased steadily as
the demand for its products / services increased due to the goodwill built up
over the years.The Subject's management have been efficient in controlling
its operating costs. The Subject's management had generated acceptable return
for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
76 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
18 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks.
The high debtors' ratio could indicate that the Subject was weak in its
credit control. However, the Subject could also giving longer credit periods
to its customers in order to boost its sales or to capture / retain its
market share. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.93 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.34 Times |
] |
|
|
The Subject's liquid ratio was slightly low.
This could indicate that the Subject's working capital was slightly
deficient. The Subject will have to improve its liquidity position either by
obtaining short term financing or increase its paid up capital so that it can
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
3.47 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.95 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. The Subject's liquidity was at an
acceptable range. If the Subject is able to obtain further short term financing,
it should be able to meet all its short term obligations. 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
: FAIR |
||||||
|
|
||||||
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 |
|
|
46312 : Wholesale of fish and other seafood |
|
|
INDUSTRY : |
AGRICULTURE |
|
Agriculture in Malaysia makes up 8.1% of
the nation's GDP. 16% of the population of Malaysia is employed through some sort
of agriculture. Agriculture remained a key factor for economic growth and
under the 11th Malaysia Plan, the GDP for the sector is projected to achieve
RM93.2 billion and the figure is estimated to reach RM110.7 billion by 2020.
Agriculture remains a key facet of the country’s macroeconomic profile, with
an improved performance from the industry in 2017 likely to support growth in
downstream industries such as food and edible oil processing. |
|
|
The agriculture sector expanded at a slower
pace of 5.9% in second quarter 2017 after 8.3% in the second quarter 2016. |
|
|
Under Budget 2017, to assist paddy farmers,
RM1.3 billion allocated to subsidise paddy price, seeds and fertilisers including
hill paddy. In addition, for Agropreneur programme, RM100 million allocated
to produce 3,000 young entrepreneurs. A sum of RM1.3 billion is allocated to
increase food production at a competitive price. The allocation is to develop
agricultural infrastructure such as drainage and irrigation, farm roads and
marketing of agricultural products. High impact programmes including paddy
estates, aquaculture integrated zone and cage fish farms will be continued. |
|
|
In addition, under Budget 2017, RM140
million allocated for Distribution of Necessary Goods Programme, opening of
four MyFarmOutlets and upgrading of 150 Agrobazaar Rakyat 1Malaysia premises.
Furthermore, the Government also encourages the development of dairy industry
as well as madu kelulut and coconut, while reducing the dependability of
imported animal feed through the development of corn plantation as a pilot
project in Terengganu and Kedah. |
|
|
The Ministry of Agriculture and Agro-based
Industry is very committed to address the trade balance deficit of RM17
billion and lessen the country’s dependency on food imports and is developing
various plans to increase the country’s Self Sufficiency Level (SSL) for
food. |
|
|
Conclusively, the agriculture sector is a strong
contributor to Malaysia's GDP and total employment. |
|
|
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) |
|
ASIA MARINE PRODUCTS SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
74,904,423 |
64,149,209 |
61,444,256 |
65,945,873 |
44,209,683 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
74,904,423 |
64,149,209 |
61,444,256 |
65,945,873 |
44,209,683 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,320,288 |
2,004,928 |
1,479,055 |
1,675,225 |
991,355 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,320,288 |
2,004,928 |
1,479,055 |
1,675,225 |
991,355 |
|
Taxation |
(567,779) |
(515,249) |
(379,720) |
(422,008) |
(259,346) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,752,509 |
1,489,679 |
1,099,335 |
1,253,217 |
732,009 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
4,453,871 |
5,864,192 |
4,764,857 |
3,511,640 |
2,779,631 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
4,453,871 |
5,864,192 |
4,764,857 |
3,511,640 |
2,779,631 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
6,206,380 |
7,353,871 |
5,864,192 |
4,764,857 |
3,511,640 |
|
TRANSFER TO RESERVES - General |
- |
(2,900,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
6,206,380 |
4,453,871 |
5,864,192 |
4,764,857 |
3,511,640 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
938,045 |
404,115 |
414,499 |
446,823 |
499,606 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
938,045 |
404,115 |
414,499 |
446,823 |
499,606 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
140,970 |
143,843 |
121,368 |
120,293 |
143,864 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
140,970 |
143,843 |
121,368 |
120,293 |
143,864 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
ASIA MARINE PRODUCTS SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
15,083,584 |
14,947,113 |
975,679 |
707,282 |
806,265 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
110,000 |
110,000 |
110,000 |
110,000 |
110,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
110,000 |
110,000 |
110,000 |
110,000 |
110,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
15,193,584 |
15,057,113 |
1,085,679 |
817,282 |
916,265 |
|
CURRENT ASSETS |
|||||
|
Stocks |
8,806,603 |
6,433,242 |
7,539,991 |
7,845,100 |
6,408,771 |
|
Trade debtors |
15,507,229 |
8,327,666 |
6,043,764 |
4,995,198 |
8,019,737 |
|
Other debtors, deposits & prepayments |
101,089 |
447,544 |
36,500 |
22,520 |
160,453 |
|
Short term deposits |
2,802,727 |
2,716,671 |
2,635,932 |
2,541,419 |
2,348,510 |
|
Cash & bank balances |
1,471,311 |
1,640,667 |
685,765 |
752,936 |
1,332,669 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
28,688,959 |
19,565,790 |
16,941,952 |
16,157,173 |
18,270,140 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
43,882,543 |
34,622,903 |
18,027,631 |
16,974,455 |
19,186,405 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,608,709 |
4,166,952 |
211,308 |
172,164 |
543,088 |
|
Other creditors & accruals |
770,256 |
43,074 |
58,143 |
76,716 |
56,973 |
|
Hire purchase & lease creditors |
80,000 |
80,000 |
40,000 |
28,318 |
28,008 |
|
Bank overdraft |
1,254,436 |
316,385 |
80,153 |
299,822 |
709,154 |
|
Short term borrowings/Term loans |
695,923 |
684,807 |
- |
519,707 |
- |
|
Bill & acceptances payable |
14,541,595 |
7,641,000 |
9,157,000 |
8,576,000 |
11,750,000 |
|
Amounts owing to subsidiary companies |
369,945 |
374,598 |
378,981 |
412,978 |
419,185 |
|
Provision for taxation |
85,168 |
84,512 |
48,576 |
77,918 |
94,064 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
21,406,032 |
13,391,328 |
9,974,161 |
10,163,623 |
13,600,472 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
7,282,927 |
6,174,462 |
6,967,791 |
5,993,550 |
4,669,668 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
9,077,519 |
9,505,092 |
- |
- |
- |
|
Hire purchase creditors |
146,637 |
226,637 |
143,303 |
- |
28,318 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
9,224,156 |
9,731,729 |
143,303 |
- |
28,318 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
13,252,355 |
11,499,846 |
7,910,167 |
6,810,832 |
5,557,615 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
7,045,975 |
7,045,975 |
2,045,975 |
2,045,975 |
2,045,975 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,045,975 |
7,045,975 |
2,045,975 |
2,045,975 |
2,045,975 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
6,206,380 |
4,453,871 |
5,864,192 |
4,764,857 |
3,511,640 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
6,206,380 |
4,453,871 |
5,864,192 |
4,764,857 |
3,511,640 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
13,252,355 |
11,499,846 |
7,910,167 |
6,810,832 |
5,557,615 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
ASIA MARINE PRODUCTS SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
4,274,038 |
4,357,338 |
3,321,697 |
3,294,355 |
3,681,179 |
|
Net Liquid Funds |
(11,521,993) |
(3,600,047) |
(5,915,456) |
(5,581,467) |
(8,777,975) |
|
Net Liquid Assets |
(1,523,676) |
(258,780) |
(572,200) |
(1,851,550) |
(1,739,103) |
|
Net Current Assets/(Liabilities) |
7,282,927 |
6,174,462 |
6,967,791 |
5,993,550 |
4,669,668 |
|
Net Tangible Assets |
13,252,355 |
11,499,846 |
7,910,167 |
6,810,832 |
5,557,615 |
|
Net Monetary Assets |
(10,747,832) |
(9,990,509) |
(715,503) |
(1,851,550) |
(1,767,421) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
3,258,333 |
2,409,043 |
1,893,554 |
2,122,048 |
1,490,961 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
3,399,303 |
2,552,886 |
2,014,922 |
2,242,341 |
1,634,825 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
25,796,110 |
18,453,921 |
9,420,456 |
9,423,847 |
12,515,480 |
|
Total Liabilities |
30,630,188 |
23,123,057 |
10,117,464 |
10,163,623 |
13,628,790 |
|
Total Assets |
43,882,543 |
34,622,903 |
18,027,631 |
16,974,455 |
19,186,405 |
|
Net Assets |
13,252,355 |
11,499,846 |
7,910,167 |
6,810,832 |
5,557,615 |
|
Net Assets Backing |
13,252,355 |
11,499,846 |
7,910,167 |
6,810,832 |
5,557,615 |
|
Shareholders' Funds |
13,252,355 |
11,499,846 |
7,910,167 |
6,810,832 |
5,557,615 |
|
Total Share Capital |
7,045,975 |
7,045,975 |
2,045,975 |
2,045,975 |
2,045,975 |
|
Total Reserves |
6,206,380 |
4,453,871 |
5,864,192 |
4,764,857 |
3,511,640 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
16.77 |
4.40 |
(6.83) |
49.17 |
(9.44) |
|
Proft/(Loss) Before Tax |
15.73 |
35.55 |
(11.71) |
68.98 |
102.70 |
|
Proft/(Loss) After Tax |
17.64 |
35.51 |
(12.28) |
71.20 |
87.24 |
|
Total Assets |
26.74 |
92.05 |
6.20 |
(11.53) |
15.60 |
|
Total Liabilities |
32.47 |
128.55 |
(0.45) |
(25.43) |
15.78 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.20 |
0.33 |
0.33 |
0.32 |
0.27 |
|
Liquid Ratio |
0.93 |
0.98 |
0.94 |
0.82 |
0.87 |
|
Current Ratio |
1.34 |
1.46 |
1.70 |
1.59 |
1.34 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
43 |
37 |
45 |
43 |
53 |
|
Debtors Ratio |
76 |
47 |
36 |
28 |
66 |
|
Creditors Ratio |
18 |
24 |
1 |
1 |
4 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.95 |
1.60 |
1.19 |
1.38 |
2.25 |
|
Liabilities Ratio |
2.31 |
2.01 |
1.28 |
1.49 |
2.45 |
|
Times Interest Earned Ratio |
3.47 |
5.96 |
4.57 |
4.75 |
2.98 |
|
Assets Backing Ratio |
1.88 |
1.63 |
3.87 |
3.33 |
2.72 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
3.10 |
3.13 |
2.41 |
2.54 |
2.24 |
|
Net Profit Margin |
2.34 |
2.32 |
1.79 |
1.90 |
1.66 |
|
Return On Net Assets |
24.59 |
20.95 |
23.94 |
31.16 |
26.83 |
|
Return On Capital Employed |
13.68 |
11.14 |
23.17 |
29.72 |
23.58 |
|
Return On Shareholders' Funds/Equity |
13.22 |
12.95 |
13.90 |
18.40 |
13.17 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
MYR |
1 |
INR 16.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
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.