|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494122 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMPIRE
MANUFACTURING SDN. BHD. |
|
|
|
|
Registered Office : |
Unit 8-3 A-4 Block 8, 4th Floor, Queen's
Avenue, Jalan Shelley, 55100 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
21.07.2011 |
|
|
|
|
Com. Reg. No.: |
953863-W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the manufacturing
and trading of food and beverages. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
953863-W |
||||
|
GST NO. |
: |
000562962432 |
||||
|
COMPANY NAME |
: |
EMPIRE MANUFACTURING SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/07/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
UNIT 8-3A-4 BLOCK 8, 4TH FLOOR, QUEEN'S
AVENUE, JALAN SHELLEY, 55100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT NO 1723, BATU 9 1/2 JALAN KAPAR, 42200
KAPAR, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-32585656 |
||||
|
FAX.NO. |
: |
03-32401842 |
||||
|
CONTACT PERSON |
: |
TAN BOON HUA ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
28250 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF FOOD AND BEVERAGES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 33,500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 74,561,008 [2016] |
||||
|
NET WORTH |
: |
MYR 12,029,382 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
SLOW |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY /
BACKGROUND
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as
a / as an) manufacturing and trading of food and beverages.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the Subject
is FUTURE ENTERPRISE PTE LTD, a company incorporated in SINGAPORE.
The ultimate holding company of the Subject
is FOOD EMPIRE HOLDINGS LIMITED, a company incorporated in SINGAPORE.
Former Address(es)
|
Address |
As At Date |
|
6-3A-4, 4TH FLOOR, QUEEN'S AVENUE, JALAN
BAYAM, CHERAS, 55100, WILAYAH PERSEKUTUAN, MALAYSIA |
01/05/2015 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
10/11/2016 |
MYR 50,000,000.00 |
MYR 33,500,000.00 |
|
04/12/2015 |
MYR 25,000,000.00 |
MYR 25,000,000.00 |
|
27/05/2015 |
MYR 25,000,000.00 |
MYR 20,000,000.00 |
|
26/12/2014 |
MYR 25,000,000.00 |
MYR 16,685,000.00 |
|
20/10/2014 |
MYR 25,000,000.00 |
MYR 13,200,000.00 |
|
21/02/2014 |
MYR 10,000,000.00 |
MYR 6,000,000.00 |
|
15/02/2013 |
MYR 5,000,000.00 |
MYR 3,000,000.00 |
|
21/07/2011 |
MYR 100,000.00 |
MYR 100.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FUTURE ENTERPRISE PTE LTD |
31 HARRISON ROAD, #08-01 FOOD EMPIRE
BUSINESS SUITES, SINGAPORE 369649 SINGAPORE |
XLZ00217660 |
33,500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
33,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
FUTURE ENTERPRISES PTE. LTD. |
SINGAPORE |
198203912Z |
33,500,000.00 |
N/A |
|
GEE BOON KING |
MALAYSIA |
680208-04-5075 |
50.00 |
N/A |
|
TAN KONG HUI |
MALAYSIA |
620202-04-5141 |
50.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TAN WANG CHEOW |
|
Address |
: |
115, LENGKONG DUA, SINGAPORE 417749 |
|
IC / PP No |
: |
E2406541A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/07/2011 |
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 |
953863W |
EMPIRE MANUFACTURING SDN. BHD. |
Director |
25/07/2011 |
0.00 |
- |
MYR(2,858,290.00) |
2016 |
- |
25/01/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
KOH YEW HIAP |
|
Address |
: |
LOT 2, JALAN BARU, 78000 ALOR GAJAH,
MELAKA, MALAYSIA. |
|
IC / PP No |
: |
E4130406C |
|
Date of Appointment |
: |
25/07/2011 |
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 |
1077716D |
EMPIRE INTERNATIONAL SDN. BHD. |
Director |
27/01/2014 |
0.00 |
- |
MYR5,390,317.00 |
2016 |
- |
25/01/2018 |
|
2 |
953863W |
EMPIRE MANUFACTURING SDN. BHD. |
Director |
25/07/2011 |
0.00 |
- |
MYR(2,858,290.00) |
2016 |
- |
25/01/2018 |
|
3 |
446193A |
FES INDUSTRIES SDN. BHD. |
Director |
15/08/2007 |
0.00 |
- |
MYR(4,015,886.00) |
2016 |
- |
25/01/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
CHAUHAN PRADEEP KUMAR SINGH |
|
Address |
: |
3, SIGLAP ROAD #07-30,, SINGAPORE 448907 |
|
IC / PP No |
: |
E6346510L |
|
Date of Appointment |
: |
25/07/2011 |
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 |
1077716D |
EMPIRE INTERNATIONAL SDN. BHD. |
Director |
23/04/2014 |
0.00 |
- |
MYR5,390,317.00 |
2016 |
- |
25/01/2018 |
|
2 |
953863W |
EMPIRE MANUFACTURING SDN. BHD. |
Director |
25/07/2011 |
0.00 |
- |
MYR(2,858,290.00) |
2016 |
- |
25/01/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. TAN BOON HUA |
|
Address |
: |
21, JALAN KEMUNING PERMAI 33/43, KEMUNING
UTAMA, 40400 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1478736 |
|
New IC No |
: |
700111-01-6003 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
06/04/2015 |
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 |
1077716D |
EMPIRE INTERNATIONAL SDN. BHD. |
Director |
06/04/2015 |
0.00 |
- |
MYR5,390,317.00 |
2016 |
- |
25/01/2018 |
|
2 |
953863W |
EMPIRE MANUFACTURING SDN. BHD. |
Director |
06/04/2015 |
0.00 |
- |
MYR(2,858,290.00) |
2016 |
- |
25/01/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
337886W |
LM SERVICES SDN. BHD. |
Director |
31/05/2013 |
12/03/2015 |
- |
- |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
TAN KONG HUI |
NO. 287-A, JALAN BANDAR HILIR, MELAKA,
MELAKA, MALAYSIA |
620202-04-5141 |
21/07/2011 |
27/01/2014 |
|
YEO KIA YEOW LAWRENCE |
7, SUNRISE PLACE,, SINGAPORE 806413 |
E2119176L |
25/07/2011 |
11/10/2011 |
|
GEE BOON KING |
266 D, KG LAPAN BACANG, MELAKA, MELAKA,
MALAYSIA |
680208-04-5075 |
21/07/2011 |
27/01/2014 |
|
FONG CHOON SENG |
66 TANAH MERAH KECHIL AVENUE, #07-31,
SINGAPORE 465532 |
E2280615E |
11/10/2011 |
04/04/2015 |
|
CHUA KIEW CHYE |
NO. 9, JALAN BP 3, TAMAN BERTAM PERMAI ULU,
MELAKA, MELAKA, MALAYSIA |
620704-04-5061 |
27/01/2014 |
07/04/2015 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAN BOON HUA |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG |
|
Auditor' Address |
: |
LEVEL 23A, MENARA MILENIUM,, JALAN
DAMANLELA,, PUSAT BANDAR DAMANSARA,, 50491, KUALA LUMPUR, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. LEE CHOY YIN |
|
IC / PP No |
: |
A0250860 |
|
|
New IC No |
: |
651028-10-7248 |
|
|
Address |
: |
NO.20,JALAN 11, CHERAS BARU, 56100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
OCBC BANK (MALAYSIA) BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
10/11/2011 |
LEGAL CHARGE UNDER THE NATIONAL LAND CODE
1965 DATED 10 NOV 2011 |
OCBC BANK (MALAYSIA) BERHAD |
- |
Unsatisfied |
|
2 |
22/08/2013 |
DEBENTURE DATED 22 AUG 2013 |
OCBC 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 |
: |
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 |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
20% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
80% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
AS AGREED |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2017 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
200 |
||||||||
|
Branch |
: |
YES |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of food and beverages.
The Subject provide product such as instant beverages, frozen finger food,
confectionery, snack food and so on.
The Subject's major product is the instant beverages.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-32585656 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT NO 1723, BATU 9%, JALAN KAPAR 42200
KLANG SELANGOR |
|
Current Address |
: |
LOT NO 1723, BATU 9 1/2 JALAN KAPAR, 42200
KAPAR, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(23.76%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(18.87%) |
] |
|
|
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 could be more efficient in controlling its
operating costs and had managed to reduce its losses during the year. The
Subject's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
73 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
40 Days |
] |
|
|
The Subject could be incurring higher
holding cost. As its capital was tied up in stocks, it could face liquidity
problems. 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 |
: |
Unfavourable |
[ |
0.36 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.53 Times |
] |
|
|
A low liquid ratio means that the Subject
may be facing working capital deficiency. If the Subject cannot obtain
additional financing or injection of fresh capital, it may face difficulties
in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(3.85 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.48 Times |
] |
|
|
The Subject incurred losses in the year. It
did not generate sufficient income to service its interest. If the
situation does not improve, the Subject may be vulnerable to default in
servicing the interest. 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 : |
||||||
|
The higher turnover had helped to reduce
the Subject's losses. Due to its weak liquidity position, the Subject will be
faced with problems in meeting all its short term obligations if no short
term loan is obtained or additional capital injected into the Subject. The
Subject's interest cover was negative, indicating that it did not generate
sufficient income to service its interest. If its result does not show
impressive improvements or succeed obtaining short term financing or capital
injection, it may not be able to service its interest and repay the loans.
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
: POOR |
||||||
|
|
||||||
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 |
|
|
28250 : Manufacture of machinery for food,
beverage and tobacco processing |
|
|
INDUSTRY : |
MACHINERY |
|
Malaysia is presently the leading
manufacturer of automation machinery and equipment (M&E) in the ASEAN
region with a total of 22 companies in production. The machinery and
equipment industry assumes an important role in the industrial development of
the country, in view of its extensive linkages to major economic sectors,
such as manufacturing, construction, transportation, mining and agriculture.
The industry supports a large number of Small and Medium Enterprises (SMEs),
which are capable of producing machinery and equipment for both domestic and
export markets. In turn, the industry is supported by a wide range of
important engineering services, which mainly involve SMEs. |
|
|
Exports of machinery, appliances and parts
continued to post double-digit growth of 14.3% driven largely by specialized
machinery for specific industries, particularly for civil engineering as well
as the manufacture of semiconductors and parts. In addition, higher demand
also emanated from general industrial machinery and equipment, particularly
heating and cooling equipment as well as pumps, compressors, fans and parts.
Key export destinations for machinery, appliances and parts were Singapore,
Thailand, the US, China and Vietnam. |
|
|
In 2015, machinery and equipment investment
turned around to record a positive growth of 5.8%. According to MATRADE
Malaysia, the exports of machinery, appliances and parts to Japan had
increased by RM98 million in 2015 compared to 2014. However, export to China
is decreased in 2015. Moreover, Machinery, appliances and parts also one of
the major import products in Malaysia that is 8.9% of all total import
products. |
|
|
Under Budget 2016, Government will focus
into chemical, electrical and electronics, machinery and equipment, aerospace
and medical devices industries as well as services. For this, RM730 million
is allocated to funds under the Malaysian Investment Development Authority
(MIDA). |
|
|
The Government has identified the M&E
industry to be one of the key areas for growth and development. The growth
will focus on the manufacture of high value-added and high technology
M&E. For the further development of the M&E industry, six strategic
thrusts have been set during the Third Industrial Master Plan (IMP3), 2006 -
2020 period:- |
|
|
- Promoting Malaysia as a regional
production, trading and distribution centre for M&E |
|
|
- Rising the development and promotion of
selected specialized and high technology M&E |
|
|
- Strengthening the engineering support
industries and support services |
|
|
- Developing Malaysian Standards for
machinery and equipment |
|
|
- Developing sufficient highly skilled
workforce |
|
|
- Strengthening the institutional support
for the further development of the industry |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK
EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS
ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
EMPIRE MANUFACTURING 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 |
5 |
|
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 |
74,561,008 |
68,813,076 |
13,656,349 |
- |
- |
|
Other Income |
881,441 |
1,444,833 |
657,247 |
96,874 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
75,442,449 |
70,257,909 |
14,313,596 |
96,874 |
- |
|
Costs of Goods Sold |
(74,533,927) |
(72,244,277) |
(19,114,382) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
908,522 |
(1,986,368) |
(4,800,786) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(2,858,290) |
(7,334,616) |
(9,615,814) |
(2,442,805) |
(849,464) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(2,858,290) |
(7,334,616) |
(9,615,814) |
(2,442,805) |
(849,464) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(2,858,290) |
(7,334,616) |
(9,615,814) |
(2,442,805) |
(849,464) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(20,242,699) |
(12,908,083) |
(3,292,269) |
(849,464) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(20,242,699) |
(12,908,083) |
(3,292,269) |
(849,464) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(23,100,989) |
(20,242,699) |
(12,908,083) |
(3,292,269) |
(849,464) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(23,100,989) |
(20,242,699) |
(12,908,083) |
(3,292,269) |
(849,464) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
588,883 |
802,137 |
459,890 |
180,845 |
241,772 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
588,883 |
802,137 |
459,890 |
180,845 |
241,772 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
4,060,458 |
3,662,111 |
1,527,891 |
39,064 |
133 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
4,060,458 |
3,662,111 |
1,527,891 |
39,064 |
133 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
EMPIRE MANUFACTURING SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
63,415,285 |
64,067,120 |
51,394,780 |
38,745,056 |
15,039,547 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
63,415,285 |
64,067,120 |
51,394,780 |
38,745,056 |
15,039,547 |
|
CURRENT ASSETS |
|||||
|
Stocks |
14,749,089 |
12,691,883 |
18,943,855 |
131,619 |
- |
|
Contract work-in-progress |
133,919 |
53,623 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
312,291 |
355,796 |
1,649,182 |
427,456 |
41,394 |
|
Amount due from holding company |
26,703,210 |
45,744,387 |
3,630,625 |
- |
- |
|
Cash & bank balances |
4,986,787 |
2,164,121 |
678,553 |
2,078,073 |
1,578,627 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
46,885,296 |
61,009,810 |
24,902,215 |
2,637,148 |
1,620,021 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
110,300,581 |
125,076,930 |
76,296,995 |
41,382,204 |
16,659,568 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
8,207,534 |
9,526,919 |
12,535,931 |
252 |
- |
|
Other creditors & accruals |
1,817,004 |
2,275,377 |
3,959,776 |
1,372,697 |
41,813 |
|
Hire purchase & lease creditors |
30,004 |
30,004 |
30,004 |
20,004 |
- |
|
Short term borrowings/Term loans |
8,137,600 |
7,784,854 |
6,339,990 |
5,149,235 |
1,048,930 |
|
Amounts owing to holding company |
54,594,597 |
62,733,922 |
20,549,767 |
11,404,416 |
4,967,171 |
|
Amounts owing to related companies |
15,869,251 |
19,679,107 |
8,202,069 |
3,596,433 |
15,630 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
88,655,990 |
102,030,183 |
51,617,537 |
21,543,037 |
6,073,544 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(41,770,694) |
(41,020,373) |
(26,715,322) |
(18,905,889) |
(4,453,523) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
9,587,726 |
17,272,899 |
20,564,754 |
19,950,931 |
8,399,670 |
|
Hire purchase creditors |
27,483 |
57,487 |
96,090 |
74,159 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
9,615,209 |
17,330,386 |
20,660,844 |
20,025,090 |
8,399,670 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
12,029,382 |
5,716,361 |
4,018,614 |
(185,923) |
2,186,354 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
33,500,000 |
25,000,000 |
16,685,000 |
3,000,000 |
3,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
33,500,000 |
25,000,000 |
16,685,000 |
3,000,000 |
3,000,000 |
|
RESERVES |
|||||
|
Exchange equalisation/fluctuation reserve |
1,630,371 |
959,060 |
241,697 |
106,346 |
35,818 |
|
Retained profit/(loss) carried forward |
(23,100,989) |
(20,242,699) |
(12,908,083) |
(3,292,269) |
(849,464) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(21,470,618) |
(19,283,639) |
(12,666,386) |
(3,185,923) |
(813,646) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
12,029,382 |
5,716,361 |
4,018,614 |
(185,923) |
2,186,354 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
EMPIRE MANUFACTURING SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
4,986,787 |
2,164,121 |
678,553 |
2,078,073 |
1,578,627 |
|
Net Liquid Funds |
4,986,787 |
2,164,121 |
678,553 |
2,078,073 |
1,578,627 |
|
Net Liquid Assets |
(56,519,783) |
(53,712,256) |
(45,659,177) |
(19,037,508) |
(4,453,523) |
|
Net Current Assets/(Liabilities) |
(41,770,694) |
(41,020,373) |
(26,715,322) |
(18,905,889) |
(4,453,523) |
|
Net Tangible Assets |
12,029,382 |
5,716,361 |
4,018,614 |
(185,923) |
2,186,354 |
|
Net Monetary Assets |
(66,134,992) |
(71,042,642) |
(66,320,021) |
(39,062,598) |
(12,853,193) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
(2,269,407) |
(6,532,479) |
(9,155,924) |
(2,261,960) |
(607,692) |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
1,791,051 |
(2,870,368) |
(7,628,033) |
(2,222,896) |
(607,559) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
17,782,813 |
25,145,244 |
27,030,838 |
25,194,329 |
9,448,600 |
|
Total Liabilities |
98,271,199 |
119,360,569 |
72,278,381 |
41,568,127 |
14,473,214 |
|
Total Assets |
110,300,581 |
125,076,930 |
76,296,995 |
41,382,204 |
16,659,568 |
|
Net Assets |
21,644,591 |
23,046,747 |
24,679,458 |
19,839,167 |
10,586,024 |
|
Net Assets Backing |
12,029,382 |
5,716,361 |
4,018,614 |
(185,923) |
2,186,354 |
|
Shareholders' Funds |
12,029,382 |
5,716,361 |
4,018,614 |
(185,923) |
2,186,354 |
|
Total Share Capital |
33,500,000 |
25,000,000 |
16,685,000 |
3,000,000 |
3,000,000 |
|
Total Reserves |
(21,470,618) |
(19,283,639) |
(12,666,386) |
(3,185,923) |
(813,646) |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
8.35 |
403.89 |
- |
- |
- |
|
Proft/(Loss) Before Tax |
61.03 |
23.72 |
(293.64) |
(187.57) |
- |
|
Proft/(Loss) After Tax |
61.03 |
23.72 |
(293.64) |
(187.57) |
- |
|
Total Assets |
(11.81) |
63.93 |
84.37 |
148.40 |
- |
|
Total Liabilities |
(17.67) |
65.14 |
73.88 |
187.21 |
- |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.06 |
0.02 |
0.01 |
0.10 |
0.26 |
|
Liquid Ratio |
0.36 |
0.47 |
0.12 |
0.12 |
0.27 |
|
Current Ratio |
0.53 |
0.60 |
0.48 |
0.12 |
0.27 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
73 |
68 |
506 |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
0 |
0 |
0 |
|
Creditors Ratio |
40 |
48 |
239 |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.48 |
4.40 |
6.73 |
(135.51) |
4.32 |
|
Liabilities Ratio |
8.17 |
20.88 |
17.99 |
(223.58) |
6.62 |
|
Times Interest Earned Ratio |
(3.85) |
(8.14) |
(19.91) |
(12.51) |
(2.51) |
|
Assets Backing Ratio |
0.36 |
0.23 |
0.24 |
(0.06) |
0.73 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(3.83) |
(10.66) |
(70.41) |
0 |
0 |
|
Net Profit Margin |
(3.83) |
(10.66) |
(70.41) |
0 |
0 |
|
Return On Net Assets |
(18.87) |
(114.28) |
(227.84) |
1,216.61 |
(27.79) |
|
Return On Capital Employed |
(10.47) |
(28.31) |
(37.05) |
(11.39) |
(5.74) |
|
Return On Shareholders' Funds/Equity |
(23.76) |
(128.31) |
(239.28) |
1,313.88 |
(38.85) |
|
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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
|
MYR |
1 |
INR 16.63 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.