|
|
|
MIRA INFORM REPORT
|
Report No. : |
493847 |
|
Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BIOMAX RESOURCES
SDN. BHD. |
|
|
|
|
Registered Office : |
91M, Room 1, Jalan Ss21/37, Damansara
Utama, 47400 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
11.11.2010 |
|
|
|
|
Com. Reg. No.: |
921772-K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of disposal gloves. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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. |
: |
921772-K |
||||
|
GST NO. |
: |
000462921728 |
||||
|
COMPANY NAME |
: |
BIOMAX RESOURCES SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
11/11/2010 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
91M, ROOM 1, JALAN SS21/37, DAMANSARA
UTAMA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 3612, UNIT C, OFF JALAN KUALA SELANGOR,
BATU 19, MUKIM SUNGAI BULOH, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-60388699 |
||||
|
FAX.NO. |
: |
03-60388699 |
||||
|
CONTACT PERSON |
: |
YANG ZENGHUI ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
469 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF DISPOSAL GLOVES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
500,000.00 ORDINARY SHARE, OF A VALUE OF
MYR 500,000.00 |
||||
|
SALES |
: |
MYR 28,312,716 [2016] |
||||
|
NET WORTH |
: |
MYR 604,226 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as
a / as an) trading of disposal gloves.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the Subject
is BIOMAX RUBBER INDUSTRIES SDN. BHD., a company incorporated in MALAYSIA.
Former Address(es)
|
Address |
As At Date |
|
13-1, 1ST FLOOR, JALAN PANDAN INDAH 4/33,
PANDAN INDAH, 55100, WILAYAH PERSEKUTUAN, MALAYSIA |
19/11/2015 |
|
2-1A, JALAN PANDAN 2/2, PANDAN JAYA,
CHERAS, 55100, WILAYAH PERSEKUTUAN, MALAYSIA |
31/10/2012 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
02/05/2017 |
N/A |
MYR 500,000.00 |
|
15/11/2010 |
MYR 100,000.00 |
MYR 100.00 |
|
11/11/2010 |
MYR 100,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BIOMAX RUBBER INDUSTRIES SDN. BHD. |
LOT 3612, UNIT C, OFF JALAN KUALA SELANGOR,
BATU 19, MUKIM SG. BULOH, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA. |
893311W |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
CHAN KOON TUCK |
MALAYSIA |
670316-06-5605 |
51.00 |
N/A |
|
GAN LU |
MALAYSIA |
G31061842 |
1.00 |
N/A |
|
XU DONGHUI |
MALAYSIA |
G49486690 |
49.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHONG WEE CHONG |
|
Address |
: |
8, JALAN DUTAMAS ANGGERIK, DUTA KENSINGTON,
SRI HARTAMAS, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
NO. 15A-2-3, MONT KIARA PINES, SCOTS TOWER,
JALAN KIARA, 56000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
6125144 |
|
New IC No |
: |
601021-10-5957 |
|
Date of Birth |
: |
21/10/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/01/2013 |
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 |
949071K |
AXIOMATIC RESOURCES SDN. BHD. |
Director |
17/06/2011 |
35,000.00 |
70.00 |
MYR(63,619.00) |
2016 |
- |
25/01/2018 |
|
2 |
928946W |
BIOMAX INDUSTRIES SDN. BHD. |
Director |
31/12/2012 |
40.00 |
40.00 |
MYR(4,098.00) |
2014 |
Disolved by Registrar |
25/01/2018 |
|
3 |
921772K |
BIOMAX RESOURCES SDN. BHD. |
Director |
23/01/2013 |
0.00 |
- |
MYR198,849.00 |
2016 |
- |
25/01/2018 |
|
4 |
893311W |
BIOMAX RUBBER INDUSTRIES SDN. BHD. |
Director |
23/01/2013 |
0.00 |
- |
MYR705,174.00 |
2016 |
- |
25/01/2018 |
|
5 |
558990U |
LA-BELL INDUSTRIES SDN. BHD. |
Director |
14/09/2001 |
12,501.00 |
50.00 |
MYR23,288.00 |
2016 |
- |
25/01/2018 |
|
6 |
553909M |
REKA WEALTH SDN. BHD. |
Director |
03/10/2002 |
38,035.00 |
27.17 |
MYR(3,500.00) |
2002 |
Disolved by Registrar |
25/01/2018 |
|
7 |
959142H |
SOUTHASIA ADVISORY SDN. BHD. |
Director |
05/09/2011 |
45,000.00 |
90.00 |
MYR(43,329.00) |
2016 |
- |
25/01/2018 |
|
8 |
1001677T |
TRIOWIND POWER (M) SDN. BHD. |
Director |
14/05/2012 |
0.00 |
- |
MYR(16,302.00) |
2013 |
Disolved by Registrar |
25/01/2018 |
|
9 |
1025147A |
TSA MEDISCIENCE SDN. BHD. |
Director |
21/11/2012 |
8,000.00 |
80.00 |
MYR(3,943.00) |
2016 |
- |
25/01/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
001296535D |
PERNIAGAAN PEMBALAKAN & PERKAYUAN RIMBA
JATI |
PARTNERSHIP |
18/06/2004 |
33.00 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
642705H |
ADVANCE TECH COMMUNICATIONS SDN. BHD. |
Shareholder |
- |
- |
364330.00 |
- |
|
2 |
415047X |
ALPHAMATIC DEVELOPMENT CORPORATION BERHAD |
Shareholder |
- |
- |
12000.00 |
- |
|
3 |
133673U |
AMAN ULUNG SDN. BHD. |
Director |
11/12/2000 |
21/08/2002 |
- |
- |
|
4 |
349348A |
CVM MAGNESIUM SDN. BHD. |
Director |
02/03/2004 |
30/06/2011 |
- |
- |
|
5 |
450657K |
DEKINJAYA BUILDER SDN. BHD. |
Director |
20/05/2002 |
04/07/2007 |
- |
- |
|
6 |
450657K |
DEKINJAYA BUILDER SDN. BHD. |
Shareholder |
- |
- |
140000.00 |
- |
|
7 |
665230W |
DEKINJAYA HOLDINGS SDN. BHD. |
Director |
06/01/2005 |
08/08/2007 |
- |
- |
|
8 |
665230W |
DEKINJAYA HOLDINGS SDN. BHD. |
Shareholder |
- |
- |
1.00 |
- |
|
9 |
204370K |
ENVIRONFOREST SDN. BHD. |
Director |
11/12/2000 |
21/08/2002 |
- |
- |
|
10 |
585558V |
ESTEEM GREENLIFE SDN. BHD. |
Director |
04/05/2006 |
18/05/2007 |
- |
- |
|
11 |
748325A |
HWG MINERALS SDN. BHD. |
Director |
30/07/2010 |
31/05/2011 |
- |
- |
|
12 |
729364K |
HWG VENTURE SDN. BHD. |
Director |
10/04/2007 |
05/01/2009 |
- |
In the process of striking off |
|
13 |
8889H |
NAM LEE SENDIRIAN BERHAD |
Director |
11/12/2000 |
21/08/2002 |
- |
- |
|
14 |
770301T |
PANGHEGAR INTERNATIONAL SDN. BHD. |
Director |
19/04/2007 |
23/07/2007 |
- |
- |
|
15 |
432350T |
ULTIMATE WAY SDN. BHD. |
Director |
30/09/1997 |
02/02/1998 |
- |
In the process of striking off |
|
16 |
1052239T |
YONG DAK STEEL SDN. BHD. |
Director |
12/08/2013 |
16/08/2017 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
YANG ZENGHUI |
|
Address |
: |
4, JALAN PUTERI 11/1A, BANDAR PUTERI, 47100
PUCHONG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
E32395411/G20559520 |
|
Date of Birth |
: |
12/03/1981 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
23/01/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
928946W |
BIOMAX INDUSTRIES SDN. BHD. |
Director |
31/12/2012 |
60.00 |
60.00 |
MYR(4,098.00) |
2014 |
Disolved by Registrar |
25/01/2018 |
|
2 |
921772K |
BIOMAX RESOURCES SDN. BHD. |
Director |
23/01/2013 |
0.00 |
- |
MYR198,849.00 |
2016 |
- |
25/01/2018 |
|
3 |
893311W |
BIOMAX RUBBER INDUSTRIES SDN. BHD. |
Director |
23/01/2013 |
0.00 |
- |
MYR705,174.00 |
2016 |
- |
25/01/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
XU DONGHUI |
NO.5, JALAN BRP 6/3A,, BUKIT RAHMAN PUTRA,,
SUNGAI BULOH, SELANGOR, MALAYSIA |
G49486690 |
13/06/2011 |
23/01/2013 |
|
LI XIAO XIONG |
5, JALAN BRP 6/3A,, BUKIT RAHMAN PUTRA,,
SUNGAI BULOH,, SHAH ALAM,, SELANGOR, MALAYSIA |
G37045275 |
13/12/2010 |
13/06/2011 |
|
MUSA BIN NORDIN |
30 JALAN GHAZALI, SUNGAI KANTAN, KAJANG,
SELANGOR, MALAYSIA |
481023-07-5559 |
13/12/2012 |
23/01/2013 |
|
CHAN KOON TUCK |
NO.5, JALAN BRP 6/3A,, BUKIT RAHMAN PUTRA,,
SUNGAI BULOH, SELANGOR, MALAYSIA |
670316-06-5605 |
11/11/2010 |
18/06/2012 |
|
GAN LU |
NO. 4 JALAN PUTERI 11/1A, BANDAR PUTERI,
PUCHONG, SELANGOR, MALAYSIA |
G31061842 |
11/11/2010 |
08/02/2011 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
YANG ZENGHUI |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
Y.S. KOH & CO. |
|
Auditor' Address |
: |
91M & 93M, JALAN SS21/37, DAMANSARA
UTAMA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. YEW GUAN CHIN |
|
IC / PP No |
: |
5266556 |
|
|
New IC No |
: |
571212-07-5207 |
|
|
Address |
: |
62, JALAN BU 12/2, BANDAR UTAMA, 47800
PETALING JAYA, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
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.
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
DISPOSAL GLOVES |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of disposal
gloves.
The Group is manufacturing and trading of premium non-sterile latex ME gloves,
pre-powdered, polymer coated and trades chlorinated powder free gloves for the
healthcare industry.
The Subject is focusing on the trading of the products.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
03-80668936 |
|
Current Telephone Number |
: |
03-60388699 |
|
Match |
: |
NO |
|
Address Provided by Client |
: |
LOT 3612 OFF JALAN KUALA SELANGOR, BATU 19,
MUKIM SUNGAI BULOH, 47000 SELANGOR DARUL EHSAN |
|
Current Address |
: |
LOT 3612, UNIT C, OFF JALAN KUALA SELANGOR,
BATU 19, MUKIM SUNGAI BULOH, 47000 SUNGAI BULOH, 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 contact number provided is not answered.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2013 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2013 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
32.91% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
41.07% |
] |
|
|
The Subject's turnover increased steadily
as the demand for its products / services increased due to the goodwill built
up over the years.The dip in profit could be due to the stiff market
competition which reduced the Subject's profit margin. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing
its holding cost. This had reduced funds being tied up in stocks. The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. 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 |
: |
Favourable |
[ |
1.09 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.15 Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to
meet short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it
did not pay any interest during the year. The Subject had no gearing and
hence it had virtually no financial risk. The Subject was financed by its shareholders'
funds and internally generated fund. During the economic downturn, the
Subject, having a zero gearing, will be able to compete better than those
which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover had
increased, its profits had declined over the same corresponding period. This
could be due to the stiffer market competition and / or higher operating
costs which lowered the Subject's profit margin. The Subject was in good
liquidity position with its total current liabilities well covered by its
total current assets. With its current net assets, the Subject should be able
to repay its short term obligations. The Subject did not make any interest
payment during the year. The Subject was dependent on its shareholders' funds
to finance its business needs. The Subject was a zero gearing company, it was
solely dependant on its shareholders to provide funds to finance its
business. The Subject has good chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject
: STABLE |
||||||
|
|
||||||
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 |
|
|
469 : Non-specialized wholesale trade |
|
|
INDUSTRY : |
TRADING |
|
Malaysia's retail sales will likely grow
3.7% in 2017, slower than previously estimated 3.9%, as consumer sentiment remains
weak amid rising cost of living in Southeast Asia's third largest economy. |
|
|
The cut in forecast was the second of such
revision by Retail Group Malaysia, a retail consulting firm, from an initial target
of 5% retail sales expansion pace in 2017. The estimate follows a survey of
members of Malaysia Retailers Association on their second quarter performance
and outlook for the year. Retail sales grew 1.7% in 2016. |
|
|
According to Retail Group Malaysia (RGM),
Malaysian retailers have seen the sales expanded 4.9 % from April to June
2017, reversing a dismal performance in first three months 2017. For the
first six months 2016, the retail sale growth rate was 2.5 %. However, the
businesses in the next three months are not optimistic, estimating an average
growth rate of 2.9 %. The department stores cum supermarket operators are
expecting to return to red with a contraction of 2.5 %. Similarly, the
department store operators expect their businesses to dip with a negative 1.5
%. |
|
|
The rise of purchasing power will continue
to fall behind the increase in prices of retail goods. More retail goods are
expected to raise prices because of higher fuel prices in recent months. |
|
|
The wholesale trade sub-sector index
increased 5.9 % to 165.9 points year-on-year (y-o-y) driven mainly by other
specialised wholesale (7.5 %), wholesale of agricultural raw materials and
livestock (7.3 %) and wholesale of machinery, equipment and supplies (6.2 %). |
|
|
Over 60% of Gross Domestic Product (GDP) is
contributed by domestic consumption. Therefore the wholesale and retail
sector plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
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) |
|
BIOMAX RESOURCES SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2013-04-30 |
|
Months |
12 |
12 |
12 |
8 |
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 |
28,312,716 |
27,171,201 |
21,767,968 |
14,325,623 |
21,382,115 |
|
Other Income |
- |
26,353 |
- |
- |
33,610 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
28,312,716 |
27,197,554 |
21,767,968 |
14,325,623 |
21,415,725 |
|
Costs of Goods Sold |
(28,001,363) |
(26,870,376) |
(21,289,618) |
(14,090,196) |
(21,054,728) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
311,353 |
327,178 |
478,350 |
235,427 |
360,997 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
248,173 |
270,581 |
85,578 |
73,183 |
104,843 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
248,173 |
270,581 |
85,578 |
73,183 |
104,843 |
|
Taxation |
(49,324) |
(55,336) |
(18,263) |
(16,514) |
(19,337) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
198,849 |
215,245 |
67,315 |
56,669 |
85,506 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
405,277 |
190,032 |
122,717 |
66,048 |
(19,458) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
405,277 |
190,032 |
122,717 |
66,048 |
(19,458) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
604,126 |
405,277 |
190,032 |
122,717 |
66,048 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
604,126 |
405,277 |
190,032 |
122,717 |
66,048 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
BIOMAX RESOURCES SDN. BHD. |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
CURRENT ASSETS |
|||||
|
Stocks |
234,000 |
1,088,176 |
- |
- |
- |
|
Trade debtors |
3,638,996 |
2,418,944 |
864,973 |
1,473,762 |
1,311,852 |
|
Other debtors, deposits & prepayments |
451,757 |
448,900 |
500,900 |
- |
- |
|
Amount due from holding company |
268,577 |
268,577 |
268,577 |
268,577 |
- |
|
Cash & bank balances |
106,759 |
193,440 |
254,298 |
11,170 |
454,209 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4,700,089 |
4,418,037 |
1,888,748 |
1,753,509 |
1,766,061 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
4,700,089 |
4,418,037 |
1,888,748 |
1,753,509 |
1,766,061 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,094 |
10,653 |
28,627 |
27,098 |
31,762 |
|
Other creditors & accruals |
38,198 |
40,521 |
37,410 |
36,484 |
39,970 |
|
Amounts owing to holding company |
3,739,512 |
3,890,892 |
1,632,316 |
1,335,431 |
931,775 |
|
Amounts owing to director |
- |
- |
- |
215,828 |
677,069 |
|
Provision for taxation |
315,059 |
70,594 |
263 |
15,851 |
19,337 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,095,863 |
4,012,660 |
1,698,616 |
1,630,692 |
1,699,913 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
100 |
100 |
100 |
100 |
100 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100 |
100 |
100 |
100 |
100 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
604,126 |
405,277 |
190,032 |
122,717 |
66,048 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
604,126 |
405,277 |
190,032 |
122,717 |
66,048 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
BIOMAX RESOURCES SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
106,759 |
193,440 |
254,298 |
11,170 |
454,209 |
|
Net Liquid Funds |
106,759 |
193,440 |
254,298 |
11,170 |
454,209 |
|
Net Liquid Assets |
370,226 |
(682,799) |
190,132 |
122,817 |
66,148 |
|
Net Current Assets/(Liabilities) |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
Net Tangible Assets |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
Net Monetary Assets |
370,226 |
(682,799) |
190,132 |
122,817 |
66,148 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
248,173 |
270,581 |
85,578 |
73,183 |
104,843 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
248,173 |
270,581 |
85,578 |
73,183 |
104,843 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
4,095,863 |
4,012,660 |
1,698,616 |
1,630,692 |
1,699,913 |
|
Total Assets |
4,700,089 |
4,418,037 |
1,888,748 |
1,753,509 |
1,766,061 |
|
Net Assets |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
Net Assets Backing |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
Shareholders' Funds |
604,226 |
405,377 |
190,132 |
122,817 |
66,148 |
|
Total Share Capital |
100 |
100 |
100 |
100 |
100 |
|
Total Reserves |
604,126 |
405,277 |
190,032 |
122,717 |
66,048 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
4.20 |
24.82 |
51.95 |
(33.00) |
4.21 |
|
Proft/(Loss) Before Tax |
(8.28) |
216.18 |
16.94 |
(30.20) |
638.82 |
|
Proft/(Loss) After Tax |
(7.62) |
219.76 |
18.79 |
(33.73) |
539.44 |
|
Total Assets |
6.38 |
133.91 |
7.71 |
(0.71) |
73.01 |
|
Total Liabilities |
2.07 |
136.23 |
4.17 |
(4.07) |
63.43 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.03 |
0.05 |
0.15 |
0.01 |
0.27 |
|
Liquid Ratio |
1.09 |
0.83 |
1.11 |
1.08 |
1.04 |
|
Current Ratio |
1.15 |
1.10 |
1.11 |
1.08 |
1.04 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
3 |
15 |
0 |
0 |
0 |
|
Debtors Ratio |
47 |
32 |
15 |
38 |
22 |
|
Creditors Ratio |
0 |
0 |
0 |
1 |
1 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
6.78 |
9.90 |
8.93 |
13.28 |
25.70 |
|
Times Interest Earned Ratio |
0 |
0 |
0 |
0 |
0 |
|
Assets Backing Ratio |
6,042.26 |
4,053.77 |
1,901.32 |
1,228.17 |
661.48 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.88 |
1.00 |
0.39 |
0.51 |
0.49 |
|
Net Profit Margin |
0.70 |
0.79 |
0.31 |
0.40 |
0.40 |
|
Return On Net Assets |
41.07 |
66.75 |
45.01 |
59.59 |
158.50 |
|
Return On Capital Employed |
41.07 |
66.75 |
45.01 |
59.59 |
158.50 |
|
Return On Shareholders' Funds/Equity |
32.91 |
53.10 |
35.40 |
46.14 |
129.26 |
|
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 16.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.