MIRA INFORM REPORT

Report No. :	484537
Report Date :	05.01.2018

IDENTIFICATION DETAILS

Name :	NSK TRADING SDN. BHD.
Formerly Known As :	GAMMA WELL SDN. BHD.
Registered Office :	No. 5-9A, The Boulevard Offices, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan
Country :	Malaysia
Financials (as on) :	31.12.2016
Date of Incorporation :	16.12.1991
Com. Reg. No.:	230924-V
Legal Form :	Private Limited (Limited By Share)
Line of Business :	Subject is engaged in the trading of grocery goods.
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 (30.06.2017)	Current Rating (30.09.2017)
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 2015. The ringgit rebounded in early 2016, but 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.

:

230924-V

COMPANY NAME

:

NSK TRADING SDN. BHD.

FORMER NAME

:

GAMMA WELL SDN. BHD. (14/07/1994)

INCORPORATION DATE

:

16/12/1991

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

NO. 5-9A, THE BOULEVARD OFFICES, MID VALLEY CITY, LINGKARAN SYED PUTRA, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

LOT 13443,JALAN SUNGAI TUA, BATU 10, 68100 BATU CAVES, SELANGOR, MALAYSIA.

TEL.NO.

:

N/A

FAX.NO.

:

N/A

MOBILE NO.

:

0172807614

WEB SITE

:

WWW.NSKTRADE.COM

CONTACT PERSON

:

LIM CHOU BU ( DIRECTOR )

INDUSTRY CODE

:

46329

PRINCIPAL ACTIVITY

:

TRADING OF GROCERY GOODS

AUTHORISED CAPITAL

:

MYR 5,000,000.00 DIVIDED INTO
ORDINARY SHARE 5,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 2,499,999.00 DIVIDED INTO
ORDINARY SHARES 2,499,999 CASH OF MYR 1.00 EACH.

SALES

:

MYR 1,762,412,164 [2016]

NET WORTH

:

MYR 283,065,765 [2016]

STAFF STRENGTH

:

N/A

BANKER (S)

:

ALLIANCE BANK MALAYSIA BHD AMBANK (M) BHD CITIBANK BHD EON BANK BHD HONG LEONG BANK BHD PUBLIC BANK BHD UNITED OVERSEAS BANK (MALAYSIA) BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

REGULAR

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

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 grocery goods.

The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

Former Address(es)

Address	As At Date
SUITE 22, 44A, JALAN SS21/35, DAMANSARA UTAMA, 47400, SELANGOR, MALAYSIA	12/06/1994
74,WISMA ANULAE, JLN RAJA BOT, KUALA LUMPUR, 50300, WILAYAH PERSEKUTUAN, MALAYSIA	15/02/2013
38-4 (ROOM A), JALAN RADIN ANUM ZONE J3, BANDAR BARU SERI PETALING, 57000, WILAYAH PERSEKUTUAN, MALAYSIA	15/06/2010
BLOCK A-2-2 (LEVEL 4), MENARA UNCANG EMAS (UE3), 85, JALAN LOKE YEW, 55200, WILAYAH PERSEKUTUAN, MALAYSIA	19/06/2007
WISMA YAP TIEH (TAG), NO. 4674, SELAYANG, BATU 8, JALAN IPOH, 68100, SELANGOR, MALAYSIA	27/05/2016
SUITE 5.49, 5TH FLOOR, WISMA CENTRAL, JALAN AMPANG, 50450, WILAYAH PERSEKUTUAN, MALAYSIA	27/12/1991
405, PLAZA CAK, 6TH FLOOR, JALAN TUANKU ABDUL RAHMAN, 50100, WILAYAH PERSEKUTUAN, MALAYSIA	28/06/1996
50-2, 2ND FLOOR, JALAN 1/76D, DESA PANDAN, 55100, WILAYAH PERSEKUTUAN, MALAYSIA	29/10/2005
BLOCK A-3A-1A (LEVEL 6), MENARA UNCANG EMAS (UE3), 85, JALAN LOKE YEW, 55200, WILAYAH PERSEKUTUAN, MALAYSIA	29/10/2008
3A12, BLOCK A, LOBBY 3, DAMANSARA INTAN, 1 JALAN SS20/27, 47400, SELANGOR, MALAYSIA	30/05/2013
A-15-4, NORTHPOINT OFFICES, MEDAN SYED PUTRA UTARA, 1, JALAN SYED PUTRA, MID VALLEY CITY, 59200, WILAYAH PERSEKUTUAN, MALAYSIA	30/11/2011

Share Capital History

Date	Authorised Shared Capital	Issue & Paid Up Capital
18/10/2007	MYR 5,000,000.00	MYR 2,499,999.00
07/09/2005	MYR 5,000,000.00	MYR 2,000,000.00
28/06/2004	MYR 5,000,000.00	MYR 1,500,000.00
29/03/2001	MYR 1,000,000.00	MYR 1,000,000.00
16/04/1999	MYR 500,000.00	MYR 500,000.00
01/07/1994	MYR 100,000.00	MYR 100,000.00
16/12/1991	MYR 25,000.00	MYR 2.00

The major shareholder(s) of the Subject are shown as follows :

Current Shareholder(s) :

Name	Address	IC/PP/Loc No	Shareholding	(%)
MR. LIM CHOU BU +	17, JALAN TIONG NAM 4, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.	690410-08-6275 A1224954	1,324,999.00	53.00
MR. LIM AH CHAI +	NO 56 JALAN BUNGA MELOR 10, TAMAN MUDA CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.	710502-08-5881 A1851424	587,500.00	23.50
MR. LIM AH CHUAN +	LOT 1535 KAMPUNG JAYA, INDUSTRIAL AREA, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA.	730124-08-6665 A2372933	587,500.00	23.50
			---------------	------
			2,499,999.00	100.00
			============	=====

+ Also Director

Former Shareholder(s) :

Name	Country	IC/PP/Loc No	Shareholding	Last Updated
CHONG KIM LIAN	MALAYSIA	0422402	456,250.00	N/A

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No	Country	Company	Status	(%)	As At
657756X	MALAYSIA	CITARASA KAPITAL SDN. BHD.	-	100.00	27/11/2017
1153421D	MALAYSIA	EIGHTEEN GOURMET SDN. BHD.	-	100.00	27/11/2017
1153416U	MALAYSIA	KIDS N KITS SDN. BHD.	-	51.00	27/11/2017
348866H	MALAYSIA	MEGA MART TRADING SDN. BHD.	Disolved	57.00	27/11/2017
879254A	MALAYSIA	NSK PROPERTY SDN. BHD.	-	100.00	27/11/2017
1145322A	MALAYSIA	NSK TRADE CITY (NS2) SDN. BHD.	-	100.00	27/11/2017
1228475P	MALAYSIA	NSK TRADE CITY (SENAWANG) SDN. BHD.	-	100.00	27/11/2017
626470P	MALAYSIA	NSK TRADE CITY SDN. BHD.	-	100.00	27/11/2017
462115U	MALAYSIA	PASARAYA TOPZELLER (M) SDN. BHD.	Winding-Up	64.00	27/11/2017
590150A	MALAYSIA	SUPER SEVEN CASH & CARRY SDN. BHD.	-	49.00	27/11/2017
352578X	MALAYSIA	TOPZELLER (M) SDN. BHD.	-	90.00	27/11/2017
516668X	MALAYSIA	UNITED RICE WHOLESALERS SDN. BHD.	-	0.79	27/11/2017

DIRECTORS

DIRECTOR 1

Name Of Subject	:	MS. ANG SUAT TOH
Address	:	NO. 14, JALAN SIBU 12, TAMAN WAHYU, JALAN IPOH, 68100 BATU CAVES, SELANGOR, MALAYSIA.
IC / PP No	:	A3058345
New IC No	:	750627-14-5872
Date of Birth	:	27/06/1975
Nationality	:	MALAYSIAN
Date of Appointment	:	26/01/2017

INTEREST CHECK

Interest in companies	:	see below
Interest in business	:	none in our databank
Former interest	:	none in our databank

INTEREST IN COMPANY

No	Local No	Company	Designation	App Date	Shareholding		Profit/(loss) After Tax	Financial Year	Status	As At
					No.	%
1	230924V	NSK TRADING SDN. BHD.	Director	26/01/2017	0.00	-	MYR34,195,146.00	2016	-	27/11/2017

DIRECTOR 2

Name Of Subject	:	MR. CHEN CHUEN SUM
Address	:	NO.21 JALAN BU 12/4, BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA.
IC / PP No	:	5925900
New IC No	:	600127-10-6507
Date of Birth	:	27/01/1960
Nationality	:	MALAYSIAN
Date of Appointment	:	26/01/2017

INTEREST CHECK

Interest in companies	:	see below
Interest in business	:	none in our databank
Former interest	:	see below

INTEREST IN COMPANY

No	Local No	Company	Designation	App Date	Shareholding		Profit/(loss) After Tax	Financial Year	Status	As At
					No.	%
1	602026H	LIMAHSOON BERHAD	Shareholder	-	1,143,000.00	1.42	MYR(39,717,551.00)	2009	-	27/11/2017
2	230924V	NSK TRADING SDN. BHD.	Director	26/01/2017	0.00	-	MYR34,195,146.00	2016	-	27/11/2017

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	660055H	NEXGRAM HOLDINGS BERHAD	Director	08/01/2016	15/09/2016	-	-
2	126887A	RCE FACTORING SDN. BHD.	Director	18/04/2008	01/04/2015	-	-
3	152519P	RCE SYNERGY SDN. BHD.	Director	01/12/2011	01/04/2015	-	-

DIRECTOR 3

Name Of Subject	:	MR. CHIEW LIAN KENG
Address	:	LOT 1705 JALAN SATU, TAMAN LEN SENG, CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No	:	7441316
New IC No	:	641006-04-5171
Date of Birth	:	06/10/1964
Nationality	:	MALAYSIAN
Date of Appointment	:	26/01/2017

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	1181965P	CLK AGRO SDN. BHD.	Director	01/04/2016	90.00	90.00	MYR(522.00)	2016	-	27/11/2017
2	823387K	CLK CONSULTANTS (MM2H) SDN. BHD.	Director	30/06/2008	24,500.00	49.00	-	-	In the process of striking off	27/11/2017
3	779411U	LOKASI TENAGA SDN. BHD.	Director	27/09/2011	0.00	-	-	-	Disolved by Registrar	27/11/2017
4	1135154X	MUAFAKAT MESTARI SDN. BHD.	Director	13/03/2015	1.00	50.00	-	-	-	27/11/2017
5	230924V	NSK TRADING SDN. BHD.	Director	26/01/2017	0.00	-	MYR34,195,146.00	2016	-	27/11/2017
6	1034188M	SRI MAJU TFS SDN. BHD.	Director	05/04/2013	0.00	-	-	-	-	27/11/2017

INTEREST IN BUSINESS

No	Local No	Business	Designation	App Date	Shareholding (%)	Status	As At
1	001488860U	HENG KENG ENTERPRISE	PARTNERSHIP	18/06/2004	50.00	-	27/11/2017

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	399277A	DELTA PRIDE (M) SDN. BHD.	Director	13/05/2010	11/04/2014	-	-
2	924280T	TAIN SIANG TREASURE BOWL SDN. BHD.	Director	25/01/2011	11/09/2012	-	-

DIRECTOR 4

Name Of Subject	:	MR. LIM CHOON PENG
Address	:	NO. 6, JALAN 216E, TAMAN NANYANG, JINJANG UTARA, 52000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
Other Address(es)	:	74,WISMA ANULAE, JLN.RAJA BOT, 50300 KUALA LUMPUR., MALAYSIA.
New IC No	:	780602-08-6033
Date of Birth	:	02/06/1978
Nationality	:	MALAYSIAN
Date of Appointment	:	26/01/2017

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	948204P	EQ DREAMWORLD SDN. BHD.	Director	13/06/2011	125,000.00	41.67	MYR(86,835.00)	2013	-	27/11/2017
2	660077U	EQ GLOBAL SDN. BHD.	Director	20/07/2004	30,001.00	12.00	MYR(43,239.00)	2013	-	27/11/2017
3	1045665W	GI DELUXE AGRICULTURE SDN. BHD.	Shareholder	-	50,000.00	10.00	MYR(24,976.00)	2016	-	27/11/2017
4	1166849P	KH FRIED ONION SDN. BHD.	Director	08/08/2016	0.00	-	-	-	-	27/11/2017
5	230924V	NSK TRADING SDN. BHD.	Director	26/01/2017	0.00	-	MYR34,195,146.00	2016	-	27/11/2017
6	609861D	SUPER SEVEN HOLDINGS SDN. BHD.	Shareholder	-	60,000.00	2.50	MYR598,447.00	2016	-	27/11/2017
7	722738U	WELLNESS FORCE SDN. BHD.	Director	23/03/2006	80,000.00	80.00	MYR(3,562.00)	2012	-	27/11/2017

INTEREST IN BUSINESS

No	Local No	Business	Designation	App Date	Shareholding (%)	Status	As At
1	002354276T	FERRO COFFEE	PARTNERSHIP	21/08/2014	25.00	-	27/11/2017

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	1208604T	MAKASSAR FRESH MARKET SDN. BHD.	Director	10/11/2016	04/04/2017	-	-
2	1208604T	MAKASSAR FRESH MARKET SDN. BHD.	Shareholder	-	-	-	-
3	568468D	SUPER SEVEN (M) SDN. BHD.	Shareholder	-	-	60000.00	-

DIRECTOR 5

Name Of Subject	:	MR. LIM AH CHAI
Address	:	NO 56 JALAN BUNGA MELOR 10, TAMAN MUDA CHERAS, 56100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
Other Address(es)	:	17 JALAN TIONG NAM 4, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No	:	A1851424
New IC No	:	710502-08-5881
Date of Birth	:	02/05/1971
Nationality	:	MALAYSIAN
Date of Appointment	:	13/06/1994

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	657756X	CITARASA KAPITAL SDN. BHD.	Director	19/07/2004	0.00	-	MYR(2,304,780.00)	2016	-	27/11/2017
2	1045665W	GI DELUXE AGRICULTURE SDN. BHD.	Director	10/05/2013	0.00	-	MYR(24,976.00)	2016	-	27/11/2017
3	1038968H	GI POWER PROPERTY MANAGEMENT SDN. BHD.	Director	19/03/2013	300,000.00	60.00	MYR3,678.00	2016	-	27/11/2017
4	522587V	K. K. CHIN TRADING & SERVICES SDN. BHD.	Director	28/04/2003	0.00	-	MYR5,110.00	2016	-	27/11/2017
5	1190593K	KIUT KIUT UPTOWN SDN. BHD.	Director	07/06/2016	120,000.00	60.00	MYR(4,741.00)	2016	-	27/11/2017
6	618469X	NEXT LO PRODUCTS (M) SDN. BHD.	Director	16/06/2003	0.00	-	MYR524,196.00	2016	-	27/11/2017
7	475344T	NSK HOLDINGS SDN. BHD.	Director	11/01/1999	1.00	33.33	MYR37,026.00	2016	-	27/11/2017
8	879254A	NSK PROPERTY SDN. BHD.	Director	16/11/2009	0.00	-	MYR(7,196,092.00)	2016	-	27/11/2017
9	1149381K	NSK TRADE CITY (RAWANG JAYA) SDN. BHD.	Director	22/06/2015	0.00	-	MYR(7,540,228.00)	2016	-	27/11/2017
10	1228475P	NSK TRADE CITY (SENAWANG) SDN. BHD.	Director	25/04/2017	0.00	-	-	-	-	27/11/2017
11	1072763M	NSK TRADE CITY (UT) SDN. BHD.	Director	04/12/2013	235,000.00	23.50	MYR(5,788.00)	2016	-	27/11/2017
12	626470P	NSK TRADE CITY SDN. BHD.	Director	28/08/2003	0.00	-	MYR32,134,350.00	2016	-	27/11/2017
13	1061275P	NSK TRADING (CHERAS) SDN. BHD.	Director	09/09/2013	0.00	-	MYR(1,741,745.00)	2016	-	27/11/2017
14	956676H	NSK TRADING (MERU) SDN. BHD.	Director	11/08/2011	0.00	-	MYR(23,683.00)	2015	-	27/11/2017
15	230924V	NSK TRADING SDN. BHD.	Director	13/06/1994	587,500.00	23.50	MYR34,195,146.00	2016	-	27/11/2017
16	1043819K	RESTORAN CUKUPRASA SDN. BHD.	Director	18/03/2016	0.00	-	MYR(835,835.00)	2016	-	27/11/2017
17	568468D	SUPER SEVEN (M) SDN. BHD.	Director	11/01/2002	0.00	-	MYR765,370.00	2016	-	27/11/2017
18	727451X	SUPER SEVEN (SEMENYIH) SDN. BHD.	Director	30/08/2012	0.00	-	MYR(3,017.00)	2016	-	27/11/2017
19	1230300X	SUPER SEVEN (VIVA HOME) SDN. BHD.	Director	11/05/2017	0.00	-	-	-	-	27/11/2017
20	590150A	SUPER SEVEN CASH & CARRY SDN. BHD.	Director	21/08/2002	5,000.00	1.00	MYR(61,216.00)	2016	-	27/11/2017
21	609861D	SUPER SEVEN HOLDINGS SDN. BHD.	Director	25/03/2003	1,200,000.00	50.00	MYR598,447.00	2016	-	27/11/2017
22	1197361H	SUPER SEVEN TRADE CENTER SDN. BHD.	Director	08/08/2016	0.00	-	MYR(209,811.00)	1970	-	27/11/2017
23	1168625W	SUPERCARD REWARDS SDN. BHD.	Director	08/12/2015	0.00	-	MYR1,449.00	2016	-	27/11/2017
24	860409V	TOPZELLER (AMPANG) SDN. BHD.	Director	11/06/2009	0.00	-	MYR394,445.00	2016	-	27/11/2017
25	352578X	TOPZELLER (M) SDN. BHD.	Director	06/10/1995	0.00	-	MYR753,082.00	2016	-	27/11/2017
26	858862H	TOPZELLER (S.A.) SDN. BHD.	Director	29/05/2009	0.00	-	MYR142,312.00	2016	-	27/11/2017

INTEREST IN BUSINESS

No	Local No	Business	Designation	App Date	Shareholding (%)	Status	As At
1	002419335H	GW MANAGEMENT	PARTNERSHIP	17/03/2015	6.00	-	27/11/2017

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	598393A	NEXTCO MARKETING SDN. BHD.	Director	25/02/2003	30/08/2007	-	-
2	598393A	NEXTCO MARKETING SDN. BHD.	Shareholder	-	-	24000.00	-
3	1045478P	RESTORAN SUN HOW SDN. BHD.	Director	09/05/2013	18/10/2013	-	-
4	1045478P	RESTORAN SUN HOW SDN. BHD.	Shareholder	-	-	-	-
5	609862A	SUPER SEVEN (AMPANG) SDN. BHD.	Director	25/03/2003	08/08/2006	-	-
6	609862A	SUPER SEVEN (AMPANG) SDN. BHD.	Shareholder	-	-	1.00	-

DIRECTOR 6

Name Of Subject	:	MR. LIM AH CHUAN
Address	:	LOT 1535 KAMPUNG JAYA, INDUSTRIAL AREA, 47000 SUNGAI BULOH, SELANGOR, MALAYSIA.
Other Address(es)	:	PUSAT PERDAGANGAN KUCHAI, LOT 29, BASEMENT 1, NO. 2 JALAN 1/127, OFF JALAN KUCHAI LAMA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No	:	A2372933
New IC No	:	730124-08-6665
Date of Birth	:	24/01/1973
Nationality	:	MALAYSIAN
Date of Appointment	:	13/06/1994

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	1063569V	BONUS AROMA SDN. BHD.	Director	20/11/2013	1.00	33.33	MYR(2,833.00)	2016	-	27/11/2017
2	657756X	CITARASA KAPITAL SDN. BHD.	Director	19/07/2004	0.00	-	MYR(2,304,780.00)	2016	-	27/11/2017
3	866248H	DEKAD SEMANGAT SDN. BHD.	Director	18/08/2009	1.00	50.00	MYR(11,504.00)	2016	-	27/11/2017
4	1153421D	EIGHTEEN GOURMET SDN. BHD.	Director	29/07/2015	0.00	-	MYR(781,508.00)	2016	-	27/11/2017
5	1211422H	IMP ENTERPRISE SDN. BHD.	Director	05/12/2016	1.00	50.00	-	-	-	27/11/2017
6	1211421M	JACKMA PACKAGING SDN. BHD.	Director	05/12/2016	1.00	50.00	-	-	-	27/11/2017
7	602026H	LIMAHSOON BERHAD	Shareholder	-	2,548,300.00	3.17	MYR(39,717,551.00)	2009	-	27/11/2017
8	475344T	NSK HOLDINGS SDN. BHD.	Director	11/01/1999	1.00	33.33	MYR37,026.00	2016	-	27/11/2017
9	879254A	NSK PROPERTY SDN. BHD.	Director	16/11/2009	0.00	-	MYR(7,196,092.00)	2016	-	27/11/2017
10	1145322A	NSK TRADE CITY (NS2) SDN. BHD.	Director	21/05/2015	0.00	-	MYR(60,939.00)	2016	-	27/11/2017
11	1149381K	NSK TRADE CITY (RAWANG JAYA) SDN. BHD.	Director	22/06/2015	0.00	-	MYR(7,540,228.00)	2016	-	27/11/2017
12	1228475P	NSK TRADE CITY (SENAWANG) SDN. BHD.	Director	25/04/2017	0.00	-	-	-	-	27/11/2017
13	1072763M	NSK TRADE CITY (UT) SDN. BHD.	Director	04/12/2013	235,000.00	23.50	MYR(5,788.00)	2016	-	27/11/2017
14	626470P	NSK TRADE CITY SDN. BHD.	Director	28/08/2003	0.00	-	MYR32,134,350.00	2016	-	27/11/2017
15	482236V	NSK TRADING (KL) SDN. BHD.	Director	29/04/1999	1.00	50.00	MYR(116,841.00)	2015	-	27/11/2017
16	575190K	NSK TRADING (SELANGOR) SDN. BHD.	Director	27/03/2002	1.00	50.00	MYR24,082.00	2016	-	27/11/2017
17	230924V	NSK TRADING SDN. BHD.	Director	13/06/1994	587,500.00	23.50	MYR34,195,146.00	2016	-	27/11/2017
18	1098725U	SERLAH DUTAMAS SDN. BHD.	Director	25/06/2014	0.00	-	MYR4,708.00	2016	-	27/11/2017

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	1153416U	KIDS N KITS SDN. BHD.	Director	29/07/2015	22/02/2016	-	-
2	1153416U	KIDS N KITS SDN. BHD.	Shareholder	-	-	-	-

DIRECTOR 7

Name Of Subject	:	MR. LIM CHOU BU
Address	:	17, JALAN TIONG NAM 4, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
Other Address(es)	:	74,WISMA ANULEE, JALAN RAJA BOT, 50300 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No	:	A1224954
New IC No	:	690410-08-6275
Nationality	:	MALAYSIAN
Date of Appointment	:	28/12/1991

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	1063569V	BONUS AROMA SDN. BHD.	Director	20/11/2013	1.00	33.33	MYR(2,833.00)	2016	-	27/11/2017
2	1068336D	BONUS DUTAMAS SDN. BHD.	Director	07/11/2013	0.00	-	MYR(1,504,634.00)	2015	-	27/11/2017
3	657756X	CITARASA KAPITAL SDN. BHD.	Director	19/07/2004	0.00	-	MYR(2,304,780.00)	2016	-	27/11/2017
4	866248H	DEKAD SEMANGAT SDN. BHD.	Director	18/08/2009	1.00	50.00	MYR(11,504.00)	2016	-	27/11/2017
5	1153421D	EIGHTEEN GOURMET SDN. BHD.	Director	29/07/2015	0.00	-	MYR(781,508.00)	2016	-	27/11/2017
6	1248326T	GARUDA RIANG SDN. BHD.	Director	20/11/2017	1.00	50.00	-	-	-	27/11/2017
7	1211422H	IMP ENTERPRISE SDN. BHD.	Director	05/12/2016	1.00	50.00	-	-	-	27/11/2017
8	1219234W	JACKMA ENTERPRISE SDN. BHD.	Director	21/02/2017	1.00	100.00	-	-	-	27/11/2017
9	1219048M	JACKMA FASHION SDN. BHD.	Director	20/02/2017	1.00	100.00	-	-	-	27/11/2017
10	1211421M	JACKMA PACKAGING SDN. BHD.	Director	05/12/2016	1.00	50.00	-	-	-	27/11/2017
11	475344T	NSK HOLDINGS SDN. BHD.	Director	11/01/1999	1.00	33.33	MYR37,026.00	2016	-	27/11/2017
12	879254A	NSK PROPERTY SDN. BHD.	Director	16/11/2009	0.00	-	MYR(7,196,092.00)	2016	-	27/11/2017
13	1252497A	NSK TRADE CITY (KD) SDN. BHD.	Director	23/10/2017	0.00	-	-	-	-	27/11/2017
14	1258818P	NSK TRADE CITY (KL) SDN. BHD.	Director	06/12/2017	0.00	-	-	-	-	N/A
15	1145322A	NSK TRADE CITY (NS2) SDN. BHD.	Director	21/05/2015	0.00	-	MYR(60,939.00)	2016	-	27/11/2017
16	1149381K	NSK TRADE CITY (RAWANG JAYA) SDN. BHD.	Director	22/06/2015	0.00	-	MYR(7,540,228.00)	2016	-	27/11/2017
17	1228475P	NSK TRADE CITY (SENAWANG) SDN. BHD.	Director	25/04/2017	0.00	-	-	-	-	27/11/2017
18	1072763M	NSK TRADE CITY (UT) SDN. BHD.	Director	04/12/2013	530,000.00	53.00	MYR(5,788.00)	2016	-	27/11/2017
19	626470P	NSK TRADE CITY SDN. BHD.	Director	28/08/2003	0.00	-	MYR32,134,350.00	2016	-	27/11/2017
20	482236V	NSK TRADING (KL) SDN. BHD.	Director	29/04/1999	1.00	50.00	MYR(116,841.00)	2015	-	27/11/2017
21	575190K	NSK TRADING (SELANGOR) SDN. BHD.	Director	27/03/2002	1.00	50.00	MYR24,082.00	2016	-	27/11/2017
22	230924V	NSK TRADING SDN. BHD.	Director	28/12/1991	1,324,999.00	53.00	MYR34,195,146.00	2016	-	27/11/2017
23	1027928U	PRECIOUS COMBO SDN. BHD.	Shareholder	-	15,000.00	15.00	-	-	-	27/11/2017
24	1098725U	SERLAH DUTAMAS SDN. BHD.	Director	25/06/2014	0.00	-	MYR4,708.00	2016	-	27/11/2017
25	254189P	SULISEN SDN. BHD.	Director	27/06/1996	50,000.00	50.00	MYR12,676.00	2000	-	27/11/2017

INTEREST IN BUSINESS

No	Local No	Business	Designation	App Date	Shareholding (%)	Status	As At
1	001589233W	LIM CHOU BU	SOLE PROPRIETORSHIP	17/12/2005	100.00	-	27/11/2017
2	000817488W	NEW SENG KEE TRADING	SOLE PROPRIETORSHIP	18/06/2004	50.00	-	27/11/2017

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	1153416U	KIDS N KITS SDN. BHD.	Director	29/07/2015	22/02/2016	-	-
2	1153416U	KIDS N KITS SDN. BHD.	Shareholder	-	-	-	-

MANAGEMENT

1)	Name of Subject	:	LIM CHOU BU
	Position	:	DIRECTOR

2)	Name of Subject	:	WONG WEI SIANG
	Position	:	FINANCE MANAGER

AUDITOR

Auditor	:	ALAN CHIN & ASSOCIATES
Auditor' Address	:	38-4, JALAN RADIN ANUM ZONE J3, BANDAR BARU SERI PETALING, 57000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

COMPANY SECRETARIES

1)	Company Secretary	:	MS. SIEW SUET WEI
	IC / PP No	:	A1166217
	New IC No	:	681119-10-5528
	Address	:	19, JALAN TEMPUA 7, BANDAR PUCHONG JAYA, 47100 PUCHONG, SELANGOR, MALAYSIA.

BANKING

Banking relations are maintained principally with :

1)

Name

:

ALLIANCE BANK MALAYSIA BHD

2)

Name

:

AMBANK (M) BHD

3)

Name

:

CITIBANK BHD

4)

Name

:

EON BANK BHD

5)

Name

:

HONG LEONG BANK BHD

6)

Name

:

PUBLIC BANK BHD

7)

Name

:

UNITED OVERSEAS BANK (MALAYSIA) BHD

ENCUMBRANCE (S)

Charge No	Creation Date	Charge Description	Chargee Name	Total Charge	Status
1	30/11/1999	N/A	ALLIANCE BANK MALAYSIA BERHAD	MYR 1,500,000.00	Satisfied
2	08/07/2002	N/A	ALLIANCE BANK MALAYSIA BERHAD	MYR 1.00	Satisfied
3	05/11/2002	FIRST PARTY DEED OF ASSIGNMENT	ALLIANCE BANK MALAYSIA BERHAD	MYR 600,000.00	Satisfied
4	04/08/2004	FACILITY AGREEMENT &OTHERS	ALLIANCE BANK MALAYSIA BERHAD	MYR 2,120,000.00	Unsatisfied
5	02/03/2005	FACILITY AGREEMENT & LEGAL CHARGE	ALLIANCE BANK MALAYSIA BERHAD	MYR 9,364,223.00	Unsatisfied
6	20/04/2007	FACILITIES AGREEMENT & OTHERS	ALLIANCE ISLAMIC BANK BERHAD	-	Unsatisfied
7	20/04/2007	FACILITY AGREEMENT AND SALE AND PURCHASE AGREEMENT	ALLIANCE ISLAMIC BANK BERHAD	-	Satisfied
8	28/12/2007	CHARGE & OTHERS	ALLIANCE BANK MALAYSIA BERHAD	-	Unsatisfied
9	13/10/2009	FACILITY AGREEMENT & OTHERS	ALLIANCE ISLAMIC BANK BERHAD	-	Unsatisfied
10	13/10/2009	FACILITY AGREEMENT & OTHERS	ALLIANCE BANK MALAYSIA BERHAD	-	Unsatisfied
11	25/03/2010	1ST LAND CHARGE	EON BANK BERHAD	MYR 4,100,000.00	Unsatisfied
12	25/03/2010	2ND LAND CHARGE	EON BANK BERHAD	MYR 7,500,000.00	Unsatisfied
13	25/03/2010	1ST LEGAL CHARGE	EON BANK BERHAD	MYR 4,100,000.00	Unsatisfied
14	25/03/2010	2ND LEGAL CHARGE	EON BANK BERHAD	MYR 7,500,000.00	Unsatisfied
15	25/03/2010	LETTER OF SET-OFF	EON BANK BERHAD	MYR 11,600,000.00	Unsatisfied
16	25/03/2010	LETTER OF SET-OFF	EON BANK BERHAD	MYR 11,600,000.00	Unsatisfied
21	26/05/2010	LETTER OF SET-OFF	HONG LEONG BANK BERHAD	-	Unsatisfied
17	07/06/2010	FACILITY AGREEMENT & LEGAL CHARGE	PUBLIC BANK BERHAD	-	Unsatisfied
18	16/06/2010	FIRST LEGAL CHARGE	UNITED OVERSEAS BANK (MALAYSIA) BERHAD.	MYR 3,000,000.00	Satisfied
19	16/06/2010	FIRST PARTY SECOND LEGAL CHARGE	UNITED OVERSEAS BANK (MALAYSIA) BERHAD.	MYR 6,090,000.00	Satisfied
20	16/06/2010	1ST PARTY 3RD LEGAL CHARGE	UNITED OVERSEAS BANK (MALAYSIA) BERHAD.	MYR 2,000,000.00	Satisfied
22	06/07/2010	MEMO OF DEPOSIT & LETTER OF SET-OFF	CITIBANK BERHAD	-	Unsatisfied
23	16/02/2011	1ST LEGAL CHARGE	AMBANK (M) BERHAD	MYR 25,000,000.00	Unsatisfied
24	07/06/2011	DEBENTURE & POWER OF ATTORNEY	AMBANK (M) BERHAD	MYR 25,000,000.00	Unsatisfied
25	06/06/2013	3RD LEGAL CHARGE	HONG LEONG BANK BERHAD	-	Unsatisfied
26	06/06/2013	3RD LEGAL CHARGE	HONG LEONG BANK BERHAD	-	Unsatisfied
27	09/09/2013	2ND LEGAL CHARGE	AMBANK (M) BERHAD	MYR 6,000,000.00	Unsatisfied
28	09/09/2013	3RD LEGAL CHARGE	AMBANK (M) BERHAD	-	Unsatisfied
29	09/09/2013	MEMO OF DEPOSIT & LETTER OF SET-OFF	AMBANK (M) BERHAD	MYR 6,000,000.00	Unsatisfied
30	16/10/2013	DEBENTURE	HONG LEONG BANK BERHAD	MYR 11,700,000.00	Unsatisfied
31	26/08/2015	LETTER OF SET-OFF	HONG LEONG BANK BERHAD	-	Unsatisfied
32	20/11/2015	4TH LEGAL CHARGE	AMBANK (M) BERHAD	MYR 5,000,000.00	Unsatisfied
33	28/01/2016	LEGAL CHARGE	HONG LEONG BANK BERHAD	-	Unsatisfied
34	25/07/2016	N/A	AMBANK (M) BERHAD	-	Unsatisfied
35	05/08/2016	N/A	ALLIANCE BANK MALAYSIA BERHAD	-	Unsatisfied

LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT

* A check has been conducted in our databank againt 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 CREDIT CARD
Type of Customer	:	WALK IN CUSTOMERS,END USERS

OPERATIONS

Goods Traded

:

GROCERY GOODS

Services

:

SUB-LET OF PREMISES

Competitor(s)

:

CARGILL FOOD INGREDIENTS SDN. BHD.
FFM MARKETING SDN. BHD.
PREMIER GRAIN SDN. BHD.
TROPICAL CONSOLIDATED CORPORATION SDN. BHD.
WONG LOONG CHEONG SDN. BHD.

Total Number of Employees:
YEAR	2017	2016	2015	2014	2013
	N/A	N/A	N/A	N/A
COMPANY	n/a	300	300	300	300

Branch

:

YES

Other Information:

The Subject is principally engaged in the (as a / as an) trading of grocery goods.

The Subject is involved in the operation of supermarket that has several operations in Malaysia.

The Subject is one of the leading in providing daily necessary products in both loose quantity as well as large quantities.

The Subject offers a wide range of products including rice, flours, onion, potatoes, canned foods, drinks, detergents and others.

we were informed that Subject operating for 24 hours.

We were informed that the Subject also has warehouse to keep stocks and materials.

CURRENT INVESTIGATION

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client	:	N/A
Current Telephone Number	:	0172807614
Match	:	N/A
Address Provided by Client	:	LOT 1553, KG JAVYA INDUSTRIAL AREA,SUNGAI BULOH 47000, SUNGAI BULOH, SEL,
Current Address	:	LOT 13443,JALAN SUNGAI TUA, BATU 10, 68100 BATU CAVES, SELANGOR, MALAYSIA.
Match	:	NO
Latest Financial Accounts	:	YES

Other Investigations

We have contacted one of the staff from the Subject and she provided some information.

The Subject refused to disclose its number of employees and fax number.

The Subject had shifted from the address provided to the current business address as its premises had been burnt few months ago.

FINANCIAL ANALYSIS

Profitability
Turnover	:	Increased	[	2012 - 2016	]
Profit/(Loss) Before Tax	:	Decreased	[	2012 - 2016	]
Return on Shareholder Funds	:	Acceptable	[	12.34%	]
Return on Net Assets	:	Acceptable	[	10.12%	]
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. The Subject's management had generated acceptable return for its shareholders using its assets.
Liquidity
Current Ratio	:	Acceptable	[	1.02 Times	]
The Subject has an adequate liquidity position with its current liabilities well covered by its current assets. With its net current assets, the Subject should be able to repay its short term obligations.
Solvency
Liability Ratio	:	Unfavourable	[	1.80 Times	]
The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected.
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's liabilities 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	5.5	5.3
Domestic Demand ( % )	6.4	6.2	6.3	-	-
Private Expenditure ( % )	7.9	6.9	7.8	10.6	10.0
Consumption ( % )	6.5	6.1	5.1	-	-
Investment ( % )	12.0	8.1	10.0	12.0	-
Public Expenditure ( % )	2.3	4.2	3.3	-	-
Consumption ( % )	2.1	4.3	2.0	-	-
Investment ( % )	2.6	(1.0)	1.1	-	-
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	-	-
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	8.2	-	-
Rubber	(10.4)	(11.0)	(12.3)	-	-
Forestry & Logging	(4.2)	(7.2)	(4.8)	-	-
Fishing	2.7	2.1	2.9	-	-
Other Agriculture	6.2	6.0	6.8	-	-
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	3.3	21.1	-
Electrical & Electronics	11.8	9.2	7.0	-	-
Rubber Products	(1.3)	5.1	3.9	-	-
Wood Products	7.8	7.0	7.0	-	-
Textiles & Apparel	10.8	7.5	6.7	-	-
Domestic-oriented Industries	7.7	4.7	3.0	-	-
Food, Beverages & Tobacco	6.1	8.9	7.5	-	-
Chemical & Chemical Products	1.4	3.5	5.1	-	-
Plastic Products	2.7	3.9	5.1	-	-
Iron & Steel	2.8	1.6	2.2	-	-
Fabricated Metal Products	2.8	4.6	5.1	-	-
Non-metallic Mineral	6.9	6.8	5.5	-	-
Transport Equipment	14.4	5.2	(3.1)	-	-
Paper & Paper Products	4.7	3.2	3.9	-	-
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
46329 : Wholesale of other foodstuffs
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

Incorporated in 1991, the Subject is a Private Limited company, focusing on trading of grocery goods. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term.  The Subject is expected to enjoy a stable market shares. A paid up capital of MYR 2,499,999 allows the Subject to expand its business more comfortably. We considered that the Subject's business position in the market is much dependent on the efforts of its directors.

Over the years, the Subject should have build up its clientele base and received supports from its regular customers. Investigation revealed that the Subject's interest lies mostly in the local market. Thus, any adverse changes to the local economy might have a negative impact on the Subject's business performance. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject managed to maintain an adequate liquidity level, indicating that the Subject has the ability to meet its financial obligations. The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected. Given a positive net worth standing at MYR 283,065,765, the Subject should be able to maintain its business in the near terms.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market.

Based on the above condition, we recommend credit be granted to the Subject normally.

PROFIT AND LOSS ACCOUNT

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

NSK TRADING 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	GROUP	GROUP	GROUP	GROUP	GROUP
Audited Account	YES	YES	YES	YES	YES
Unqualified Auditor's Report (Clean Opinion)	YES	YES	YES	YES	YES
Financial Type	SUMMARY	FULL	FULL	FULL	FULL
Currency	MYR	MYR	MYR	MYR	MYR
TURNOVER	1,762,412,164	1,594,748,088	1,496,612,311	1,356,219,265	1,208,908,809
	----------------	----------------	----------------	----------------	----------------
Total Turnover	1,762,412,164	1,594,748,088	1,496,612,311	1,356,219,265	1,208,908,809
Costs of Goods Sold	-	(1,386,086,716)	(1,306,133,222)	(1,199,309,156)	(1,080,866,541)
	----------------	----------------	----------------	----------------	----------------
Gross Profit	-	208,661,372	190,479,089	156,910,109	128,042,268
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) FROM OPERATIONS	53,165,138	66,894,560	66,558,761	57,036,861	41,653,749
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES	-	-	(69,396)	321,608	247,854
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) BEFORE TAXATION	53,165,138	66,894,560	66,489,365	57,358,469	41,901,603
Taxation	(18,969,992)	(20,000,492)	(18,851,088)	(15,526,963)	(11,228,067)
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) AFTER TAXATION	34,195,146	46,894,068	47,638,277	41,831,506	30,673,536
Minority interests	733,931	456,175	684,747	(215,062)	(117,303)
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS	34,929,077	47,350,243	48,323,024	41,616,444	30,556,233
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS	34,929,077	47,350,243	48,323,024	41,616,444	30,556,233
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
As previously reported	240,758,669	193,408,426	145,085,402	103,468,958	72,912,725
	----------------	----------------	----------------	----------------	----------------
As restated	240,758,669	193,408,426	145,085,402	103,468,958	72,912,725
	----------------	----------------	----------------	----------------	----------------
PROFIT AVAILABLE FOR APPROPRIATIONS	275,687,746	240,758,669	193,408,426	145,085,402	103,468,958
	----------------	----------------	----------------	----------------	----------------
RETAINED PROFIT/(LOSS) CARRIED FORWARD	275,687,746	240,758,669	193,408,426	145,085,402	103,468,958
	=============	=============	=============	=============	=============
INTEREST EXPENSE (as per notes to P&L)
Hire purchase	-	325,559	414,994	422,824	421,364
Term loan / Borrowing	-	-	7,652,416	4,008,370	3,181,278
Others	-	13,999,238	2,537,832	2,461,498	2,168,379
	----------------	----------------	----------------	----------------	----------------
	-	14,324,797	10,605,242	6,892,692	5,771,021
	-	=============	=============	=============	=============
DEPRECIATION (as per notes to P&L)	-	14,126,673	12,686,399	10,437,837	8,609,906
	----------------	----------------	----------------	----------------	----------------
Total Amortization And Depreciation	-	14,126,673	12,686,399	10,437,837	8,609,906
	=============	=============	=============	=============	=============

BALANCE SHEET

NSK TRADING SDN. BHD.

ASSETS EMPLOYED:
FIXED ASSETS	257,323,369	245,451,095	226,466,710	156,628,735	139,536,081
LONG TERM INVESTMENTS/OTHER ASSETS
Subsidiary companies	-	-	2	11,000,000	-
Associated companies	-	1,421,232	1,429,608	1,502,924	1,259,881
Investment properties	-	192,994,058	164,856,173	90,840,047	24,485,611
Investments	-	10,000	10,000	10,000	10,000
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS	262,138,971	194,425,290	166,295,783	103,352,971	25,755,492
Others	-	1,640	-	-	-
	----------------	----------------	----------------	----------------	----------------
TOTAL INTANGIBLE ASSETS	-	1,640	-	-	-
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM ASSETS	519,462,340	439,878,025	392,762,493	259,981,706	165,291,573
Stocks	-	76,179,457	70,763,718	64,753,800	56,929,736
Trade debtors	-	15,569,690	11,396,300	10,324,344	8,439,594
Other debtors, deposits & prepayments	-	13,423,542	9,829,206	13,540,160	7,275,116
Short term deposits	-	20,600,019	20,711,011	19,811,101	14,827,616
Amount due from associated companies	-	339,965	125,030	103,111	252,782
Cash & bank balances	-	78,363,875	96,655,890	94,259,218	60,168,425
Others	-	-	-	-	1,027
	----------------	----------------	----------------	----------------	----------------
TOTAL CURRENT ASSETS	272,810,332	204,476,548	209,481,155	202,791,734	147,894,296
	----------------	----------------	----------------	----------------	----------------
TOTAL ASSET	792,272,672	644,354,573	602,243,648	462,773,440	313,185,869
	=============	=============	=============	=============	=============
CURRENT LIABILITIES
Trade creditors	-	112,214,574	120,441,677	110,082,905	94,347,497
Other creditors & accruals	-	15,687,350	21,295,727	25,223,025	12,186,397
Hire purchase & lease creditors	-	1,892,364	2,414,047	3,077,975	3,264,258
Short term borrowings/Term loans	-	15,402,072	15,078,645	6,986,007	3,727,642
Bill & acceptances payable	-	43,786,151	45,374,420	50,626,872	40,188,366
Amounts owing to director	-	3,945	-	-	-
Provision for taxation	-	310,792	4,538,177	4,693,453	-
	----------------	----------------	----------------	----------------	----------------
TOTAL CURRENT LIABILITIES	266,815,722	189,297,248	209,142,693	200,690,237	153,714,160
	----------------	----------------	----------------	----------------	----------------
NET CURRENT ASSETS/(LIABILITIES)	5,994,610	15,179,300	338,462	2,101,497	(5,819,864)
	----------------	----------------	----------------	----------------	----------------
TOTAL NET ASSETS	525,456,950	455,057,325	393,100,955	262,083,203	159,471,709
	=============	=============	=============	=============	=============
SHARE CAPITAL
Ordinary share capital	2,499,999	2,499,999	2,499,999	2,499,999	2,499,999
	----------------	----------------	----------------	----------------	----------------
TOTAL SHARE CAPITAL	2,499,999	2,499,999	2,499,999	2,499,999	2,499,999
Retained profit/(loss) carried forward	275,687,746	240,758,669	193,408,426	145,085,402	103,468,958
	----------------	----------------	----------------	----------------	----------------
TOTAL RESERVES	275,687,746	240,758,669	193,408,426	145,085,402	103,468,958
MINORITY INTEREST	4,878,020	4,643,559	5,099,734	1,284,481	1,069,419
	----------------	----------------	----------------	----------------	----------------
SHAREHOLDERS' FUNDS/EQUITY	283,065,765	247,902,227	201,008,159	148,869,882	107,038,376
Long term loans	-	203,545,279	187,364,519	107,349,807	45,436,815
Hire purchase creditors	-	1,013,629	2,196,563	3,270,079	4,949,664
Deferred taxation	-	2,596,190	2,531,714	2,593,435	2,046,854
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM LIABILITIES	242,391,185	207,155,098	192,092,796	113,213,321	52,433,333
	----------------	----------------	----------------	----------------	----------------
	525,456,950	455,057,325	393,100,955	262,083,203	159,471,709
	=============	=============	=============	=============	=============

FINANCIAL RATIO

NSK TRADING SDN. BHD.

TYPES OF FUNDS
Cash	-	98,963,894	117,366,901	114,070,319	74,996,041
Net Liquid Funds	-	55,177,743	71,992,481	63,443,447	34,807,675
Net Liquid Assets	5,994,610	(61,000,157)	(70,425,256)	(62,652,303)	(62,749,600)
Net Current Assets/(Liabilities)	5,994,610	15,179,300	338,462	2,101,497	(5,819,864)
Net Tangible Assets	525,456,950	455,055,685	393,100,955	262,083,203	159,471,709
Net Monetary Assets	(236,396,575)	(268,155,255)	(262,518,052)	(175,865,624)	(115,182,933)
PROFIT & LOSS ITEMS
Earnings Before Interest & Tax (EBIT)	-	81,219,357	77,094,607	64,251,161	47,672,624
Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)	-	95,346,030	89,781,006	74,688,998	56,282,530
BALANCE SHEET ITEMS
Total Borrowings	-	265,639,495	252,428,194	171,310,740	97,566,745
Total Liabilities	509,206,907	396,452,346	401,235,489	313,903,558	206,147,493
Total Assets	792,272,672	644,354,573	602,243,648	462,773,440	313,185,869
Net Assets	525,456,950	455,057,325	393,100,955	262,083,203	159,471,709
Net Assets Backing	283,065,765	247,902,227	201,008,159	148,869,882	107,038,376
Shareholders' Funds	283,065,765	247,902,227	201,008,159	148,869,882	107,038,376
Total Share Capital	2,499,999	2,499,999	2,499,999	2,499,999	2,499,999
Total Reserves	275,687,746	240,758,669	193,408,426	145,085,402	103,468,958
GROWTH RATIOS (Year on Year)
Revenue	10.51	6.56	10.35	12.19	52.27
Proft/(Loss) Before Tax	(20.52)	0.61	15.92	36.89	45.45
Proft/(Loss) After Tax	(27.08)	(1.56)	13.88	36.38	44.24
Total Assets	22.96	6.99	30.14	47.76	15.89
Total Liabilities	28.44	(1.19)	27.82	52.27	6.35
LIQUIDITY (Times)
Cash Ratio	-	0.52	0.56	0.57	0.49
Liquid Ratio	-	0.68	0.66	0.69	0.59
Current Ratio	1.02	1.08	1.00	1.01	0.96
WORKING CAPITAL CONTROL (Days)
Stock Ratio	-	17	17	17	17
Debtors Ratio	-	4	3	3	3
Creditors Ratio	-	30	34	34	32
SOLVENCY RATIOS (Times)
Gearing Ratio	-	1.07	1.26	1.15	0.91
Liabilities Ratio	1.80	1.60	2.00	2.11	1.93
Times Interest Earned Ratio	-	5.67	7.27	9.32	8.26
Assets Backing Ratio	210.18	182.02	157.24	104.83	63.79
PERFORMANCE RATIO (%)
Operating Profit Margin	3.02	4.19	4.44	4.23	3.47
Net Profit Margin	1.98	2.97	3.23	3.07	2.53
Return On Net Assets	10.12	17.85	19.61	24.52	29.89
Return On Capital Employed	10.02	17.60	19.24	24.11	29.10
Return On Shareholders' Funds/Equity	12.34	19.10	24.04	27.95	28.55
Dividend Pay Out Ratio (Times)	-	0	0	0	0
NOTES TO ACCOUNTS
Contingent Liabilities	-	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.39
UK Pound	1	INR 85.74
Euro	1	INR 76.25
MYR	1	INR 15.85

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TRU

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)

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