|
|
|
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%20SDN%20%20BHD%20%20-%20484102%2006-Jan-2018_files/image010.gif)
MIRA INFORM REPORT
|
Report No. : |
484102 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
IFFCO (S.E.A.) SDN. BHD. |
|
|
|
|
Registered Office : |
Suite 1005, 10th
Floor, Wisma Hamzah-Kwong Hing, 1, Leboh Ampang, 50100 Kuala Lumpur, Wilayah
Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2016 |
|
|
|
|
Date of Incorporation : |
15.12.2000 |
|
|
|
|
Com. Reg. No.: |
534996-V |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in marketing of food and consumer products,
sourcing of edible oils and trading in bulk oil. |
|
|
|
|
No. of Employees : |
50 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. |
: |
534996-V |
||||
|
COMPANY
NAME |
: |
IFFCO
(S.E.A.) SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
15/12/2000 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
SUITE
1005, 10TH FLOOR, WISMA HAMZAH-KWONG HING, 1, LEBOH AMPANG, 50100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
LOT A
& B, TOWER 2, ETIQA TWINS, 11, JALAN PINANG, LEVEL 22, 50450 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-21742020 |
||||
|
FAX.NO. |
: |
03-21660355 |
||||
|
CONTACT
PERSON |
: |
PURNENDU
RAJESHWAR THAKORE ( CEO ) |
||||
|
INDUSTRY
CODE |
: |
46202 |
||||
|
PRINCIPAL
ACTIVITY |
: |
MARKETING
OF FOOD AND CONSUMER PRODUCTS,SOURCING OF EDIBLE OILS AND TRADING IN BULK OIL |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
25,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
22,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
2,075,379,782 [2016] |
||||
|
NET
WORTH |
: |
MYR
66,221,897 [2016] |
||||
|
STAFF
STRENGTH |
: |
50
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
GOOD |
||||
|
INDUSTRY
OUTLOOK |
: |
MATURE |
||||
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) marketing of food and consumer products,sourcing of edible oils and
trading in bulk oil.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At
Date |
|
44B,
JALAN SS 21/58, DAMANSARA UTAMA, 47400, SELANGOR, MALAYSIA |
01/05/2015 |
|
4B, JALAN
SS 21/39, DAMANSARA UTAMA, 47400, SELANGOR, MALAYSIA |
07/02/2011 |
|
SUITE
38B,30TH FLOOR, EMPIRE TOWER, JALAN TUN RAZAK, 50400, WILAYAH PERSEKUTUAN,
MALAYSIA |
15/02/2013 |
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
20/06/2016 |
MYR
25,000,000.00 |
MYR
22,000,000.00 |
|
02/10/2014 |
MYR
10,000,000.00 |
MYR
10,000,000.00 |
|
23/12/2011 |
MYR
10,000,000.00 |
MYR
7,000,000.00 |
|
13/06/2011 |
MYR
10,000,000.00 |
MYR
4,670,000.00 |
|
22/02/2008 |
MYR
500,000.00 |
MYR
350,000.00 |
|
26/02/2001 |
MYR
100,000.00 |
MYR
100,000.00 |
|
15/12/2000 |
MYR
100,000.00 |
MYR
2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
IFFCO
SINGAPORE PTE. LTD. |
78,
SHENTON WAY, 26-02A 079120 ,SINGAPORE |
200602677 |
22,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
22,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
Former Shareholder(s)
:
|
Name |
Country |
IC/PP/Loc
No |
Shareholding |
Last
Updated |
|
AMFIS
MIDDLE EAST (FZE) |
N/A |
XLZ00215335 |
N/A |
N/A |
|
AMFIS
MIDDLE EAST (FZE) LIMITED LIABILITY EST. |
N/A |
XLZ000015436 |
350,000.00 |
N/A |
The Subject's
interest in other companies (Subsidiaries/Associates) are shown as follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
1196747W |
MALAYSIA |
IFFCO
FOODS SDN. BHD. |
- |
100.00 |
27/11/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
SYED
RIZWAN AHMED |
|
Address |
: |
VILLA
14, AL FISHT AREA, NEXT TO SHARJAH WOMEN'S CLUB, AL SHARQ STREET, P.O. BOX
6906, SHARJAH, UNITED ARAB EMIRATES. |
|
IC / PP
No |
: |
BD1158067 |
|
Date of
Birth |
: |
10/03/1957 |
|
Nationality |
: |
PAKISTANI |
|
Date of
Appointment |
: |
02/02/2010 |
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 |
534996V |
IFFCO
(S.E.A.) SDN. BHD. |
Director |
02/02/2010 |
0.00 |
- |
MYR20,632,451.00 |
2016 |
- |
27/11/2017 |
DIRECTOR 2
|
Name Of
Subject |
: |
PURNENDU
RAJESHWAR THAKORE |
|
Address |
: |
A-36-01,
TIFFNI KIARA, CHANGKAT DUTA KIARA, 50480 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC / PP
No |
: |
Z3803182 |
|
Date of
Birth |
: |
22/02/1964 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
18/01/2010 |
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 |
689827P |
ASIAN
OILS AND DERIVATIVES SDN. BHD. |
Director |
15/11/2016 |
0.00 |
- |
MYR1,009,667.00 |
2016 |
- |
27/11/2017 |
|
2 |
920555W |
FELDA
IFFCO TRADING SDN. BHD. |
Director |
20/04/2011 |
0.00 |
- |
MYR15,793,679.00 |
2016 |
- |
27/11/2017 |
|
3 |
485777W |
IFFCO
(MALAYSIA) SDN. BHD. |
Director |
15/11/2016 |
0.00 |
- |
MYR16,348,680.00 |
2016 |
- |
27/11/2017 |
|
4 |
534996V |
IFFCO
(S.E.A.) SDN. BHD. |
Director |
18/01/2010 |
0.00 |
- |
MYR20,632,451.00 |
2016 |
- |
27/11/2017 |
|
5 |
1196747W |
IFFCO
FOODS SDN. BHD. |
Director |
02/08/2016 |
0.00 |
- |
MYR(67,235.00) |
1970 |
- |
27/11/2017 |
DIRECTOR 3
|
Name Of
Subject |
: |
VIKAS
JAIN |
|
Address |
: |
UNIT
7-08, 6 CEYLON, JALAN CEYLON, 50200 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC / PP
No |
: |
Z3428989 |
|
Date of
Birth |
: |
10/07/1972 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
29/02/2016 |
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 |
534996V |
IFFCO
(S.E.A.) SDN. BHD. |
Director |
29/02/2016 |
0.00 |
- |
MYR20,632,451.00 |
2016 |
- |
27/11/2017 |
|
2 |
1196747W |
IFFCO
FOODS SDN. BHD. |
Director |
02/08/2016 |
0.00 |
- |
MYR(67,235.00) |
1970 |
- |
27/11/2017 |
DIRECTOR 4
|
Name Of
Subject |
: |
KETAN
MOTILAL DOSHI |
|
Address |
: |
FLAT
NO. 1802, SHAIKH FAISAL BIN KHALID AL QASIMI BUILDING, NEW AL KHAN, SHARJAH,
UNITED ARAB EMIRATES. |
|
IC / PP
No |
: |
Z3066102 |
|
Date of
Birth |
: |
08/11/1960 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
13/02/2012 |
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 |
689827P |
ASIAN
OILS AND DERIVATIVES SDN. BHD. |
Director |
09/03/2016 |
0.00 |
- |
MYR1,009,667.00 |
2016 |
- |
27/11/2017 |
|
2 |
534996V |
IFFCO
(S.E.A.) SDN. BHD. |
Director |
13/02/2012 |
0.00 |
- |
MYR20,632,451.00 |
2016 |
- |
27/11/2017 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP
No |
Appointed
Date |
Withdrawn
Date |
|
YAP
SOON LEONG |
32,JALAN
SS3/50, TMN UNIVERSITI, PETALING JAYA,SELANGOR, PETALING JAYA, SELANGOR,
MALAYSIA |
571214-10-5609 |
15/12/2000 |
21/02/2003 |
|
SINTA
ANAK MAKAH |
14,
JALAN MUAFAKAT 1, TAMAN SURIA MUAFAKAT, JOHOR BAHRU, JOHOR, MALAYSIA |
690412-13-5640 |
15/12/2000 |
21/02/2003 |
|
MASHKOOR
HASAN KHAN |
APARTMENT
NO.3007, THE ASCOTT KUALA LUMPUR, NO.9, JALAN PINANG, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
F8703105 |
01/11/2007 |
19/01/2010 |
|
MOHAMED
HASHIM BIN MOHAMED ALI |
18, JALAN
TU 34, TAMAN TASIK UTAMA, AYER KEROH, MELAKA, MALAYSIA |
491103-06-5237 |
21/02/2003 |
13/02/2012 |
|
MANISH
BHOOPAL |
THE
AVARE, UNIT 18A, 2, LORONG KUDA, OFF JALAN TUN RAZAK, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
Z1746119 |
18/01/2010 |
13/02/2012 |
|
JAYANT
ANANT SUKHTANKAR |
C-11E2,
THE STRAITS VIEW CONDOMINIUM, PERMAS JAYA 8, JALAN PERMAS, JOHOR BAHRU,
JOHOR, MALAYSIA |
G1709328 |
01/11/2007 |
18/01/2010 |
|
SWAMINATHAN
VISHNAMPET NATARAJAN |
B30-06 SUASANA
SENTRAL LOFT CONDOMINIUM, JALAN STESEN SENTRAL 5, KL SENTRAL, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
Z2834279 |
13/02/2012 |
29/02/2016 |
Note :
The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
PURNENDU
RAJESHWAR THAKORE |
|
Position |
: |
CEO |
|
AUDITOR
|
|
Auditor |
: |
ATAREK
KAMIL IBRAHIM & CO. |
|
Auditor'
Address |
: |
89-3,
JALAN WANGSA DELIMA 5, PUSAT BANDAR WANGSA MAJU (KLSC), 53300 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MS. WON
SWEE HWAN |
|
IC / PP
No |
: |
A0331878 |
|
|
New IC
No |
: |
660207-10-6712 |
|
|
Address |
: |
2, JALAN
LANG PERUT PUTIH 9, KEPONG BARU, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
|
2) |
Company
Secretary |
: |
MR.
JASNI BIN ABDUL JALIL |
|
IC / PP
No |
: |
7007140 |
|
|
New IC
No |
: |
630309-07-5323 |
|
|
Address |
: |
47,
JALAN SUNGAI CONGKAK 32/43, BUKIT RIMAU, 40460 SHAH ALAM, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC
BANK MALAYSIA BHD |
|
2) |
Name |
: |
MALAYAN
BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
24/04/2008 |
TRADE
FINANCING GENERAL AGREEMENT |
HSBC
BANK MALAYSIA BERHAD |
- |
Satisfied |
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 |
Percentage |
: |
80% |
|
Overseas |
: |
YES |
Percentage |
: |
20% |
|
Import
Countries |
: |
ASIA |
|||
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 |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
30 - 60
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
FOOD
AND CONSUMER PRODUCTS |
|||||
|
Services |
: |
SOURCING
OF EDIBLE OILS AND TRADING IN BULK OIL |
|||||
|
Competitor(s) |
: |
FGV
TRADING SDN. BHD. |
|||||
|
Ownership
of premises |
: |
LEASED/RENTED |
|
Total Number
of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
50 |
50 |
52 |
52 |
20 |
||||
|
Branch |
: |
YES |
Other
Information:
The Subject is principally engaged in the (as a / as an) marketing of food and
consumer products,sourcing of edible oils and trading in bulk oil.
The Subject acts as a buying house of refined vegetable oils for its related
companies in overseas.
The products including specialty fats, vegetable shortening, specialized
shortenings, margarines, butter, butter blends and oils.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-21742020 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
LOT A&B,
LEVEL 22 TOWER 2, ETIQA TWINS, 11 JALAN PINGANG, 50450 KUALA LUMPUR |
|
Current
Address |
: |
LOT A
& B, TOWER 2, ETIQA TWINS, 11, JALAN PINANG, LEVEL 22, 50450 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial
Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address is as per stated in the report.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 -
2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2012 -
2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
31.16% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
31.14% |
] |
|
|
The Subject's
turnover increased steadily as the demand for its products / services
increased due to the goodwill built up over the years.The higher profit could
be attributed to the increase in turnover. Generally the Subject was
profitable. The favourable return on shareholders' funds and return on net
assets indicate that the Subject's management was efficient in utilising the
assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Debtor
Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio where
the Subject could be taking advantage of the cash discounts and also wanting
to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.31
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.31
Times |
] |
|
|
A
minimum liquid ratio of 1 should be maintained by the Subject in order to
assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
755.10
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
2.29
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough profit
to pay for the interest accrued. The Subject was highly geared, thus it had a
high financial risk. The Subject was dependent on loans to finance its
business needs. In times of economic downturn and / or high interest rate,
the Subject will become less profitable and competitive than other firms in
the same industry, which are lowly geared. This is because the Subject has to
service the interest and to repay the loan, which will erode part of its
profits. The profits will fluctuate depending on the Subject's turnover and
the interest it needs to pay. |
||||||
|
Overall
Assessment : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. The Subject
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. With the favourable
interest cover, the Subject could be able to service all the accrued interest
without facing any difficulties. 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 : STABLE |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major
Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population
( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross
Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.5 |
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 |
|
|
46202 :
Wholesale of palm oil |
|
|
INDUSTRY
: |
PALM
OIL |
|
According
to the Malaysian Palm Oil Council (MPOC), Malaysia currently accounts for 39%
of world palm oil production and 44% of world exports in year 2014. Malaysia
is also one of the biggest producers and exporters of oil palm and palm oil
products. In the last 5 years until year 2014, Malaysia earned between RM50
billion and RM70 billion a year from palm oil exports. |
|
|
Besides,
the ongoing implementation of Entry Point Projects (EPPs) under the National
Key Economic Area (NKEA) on palm oil to enhance productivity of upstream and
downstream activities will further boost the palm oil sector. Thus, palm oil
sector is expected to grow 6.7% in 2014 (2013: 2.6%). Moreover, the total oil
palm planted areas increased 2.8% to 5.3 million hectares as at end-June 2014
(end-June 2013: 5.2 million hectares) following the opening of 30,544
hectares of cultivated areas mainly in Sabah and Sarawak. Other than that,
the production of palm oil is expected to growth by 1.6% (19.52 million
tonnes) in year 2014, compared to 19.22 million tonnes in year 2013. |
|
|
According
to Kenanga Research, the estimated average crude palm oil (CPO) price for
2014 and 2015 is between RM2,100 and RM2,500 per tonne due to lower inventory
estimate by end-2015. The estimated prices also lifted by factors such as
biofuel demand and petroleum price level. But, the average price of crude
palm oil (CPO) strengthened to RM2,542 per tonne during the first eight
months of 2014 (January - August 2013: Rm2,309 per tonne). However, with
production rising in the second quarter coupled with high inventory level
(end-August 2014: 2.1 million tonnes), the price of CPO moderated to RM2,162
per tonne as at end-August 2014, and hitting a five-year low of RM1,914 per
tonne in Sept 2014 as stockpiles surged to a more than 1 year high above 2
million tonnes. The moderation in CPO prices was also due to a surge in
global supplies of edible oil, particularly the bumper harvest of soybean in
the US. |
|
|
Over the
total exports of major products in year 2013, palm oil accounts 6.4% of share
in the total exports. During the first seven months of 2014, export receipts
of palm oil rebounded by 4.9% to RM25.8 billion (January - July 2013: -21.9%,
RM 24.6 billion) due to higher export prices averaging RM 2,703 per tonne
(January - July 2013: Rm 2,456 per tonne). As a measure to reduce the high
inventory due to strong output, the Government has exempted export tax on CPO
until December 2014. The Government's move to extend the export duty
exemption for crude palm oil (CPO) has received positive reaction from
industry players. The chairman of Malaysian Palm Oil Board (MPOB) said the
move provided a stable effect on the CPO market prices. |
|
|
In
Budget 2015, there is an allocation of RM41 million for smallholders to plant
and replant oil palm. The incentives for commodities announced in Budget 2015
will help alleviate the problems faced by the industry, especially the poor
prices for rubber and palm oil. |
|
|
According
to the Minister of Plantation Industries and Commodities, the Malaysian
government will increase the amount of palm oil based bio-diesel in the
national diesel supply mix from November 2014, in a move that will also help
to increase consumption of crude palm oil (CPO) and reduce stockpile levels
of the commodity. The implementation of the B7 blend will also increase the
use palm oil which prices have softened due to oversupply in the market.
According to the Malaysian Palm Oil Council (MPOC), CPO prices are expected
to improve to between RM2,100 and RM2,500 in year 2015, lifted by factors
such as biofuel demand from the B7 programme. CIMB Research estimates that
the rollout could raise the country's palm oil demand by 263,000-390,000
tonnes per annum, or 1-2% of the total palm oil production in 2013. |
|
|
OVERALL
INDUSTRY OUTLOOK : Mature |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
IFFCO
(S.E.A.) SDN. BHD. |
|
Financial
Year End |
2016-06-30 |
2015-06-30 |
2014-06-30 |
2013-06-30 |
2012-06-30 |
|
Months |
12 |
12 |
12 |
12 |
6 |
|
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 |
2,075,379,782 |
1,309,057,943 |
1,009,447,920 |
451,751,889 |
434,726,344 |
|
Other
Income |
- |
- |
1,327,013 |
577,434 |
681,822 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
2,075,379,782 |
1,309,057,943 |
1,010,774,933 |
452,329,323 |
435,408,166 |
|
Costs
of Goods Sold |
(2,035,859,881) |
(1,296,586,043) |
(993,715,003) |
(436,103,637) |
(429,565,368) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
39,519,901 |
12,471,900 |
17,059,930 |
16,225,686 |
5,842,798 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
20,786,118 |
9,391,712 |
7,799,221 |
5,634,210 |
1,273,043 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
20,786,118 |
9,391,712 |
7,799,221 |
5,634,210 |
1,273,043 |
|
Taxation |
(153,667) |
(2,053,946) |
(2,088,567) |
(278,855) |
(322,331) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
20,632,451 |
7,337,766 |
5,710,654 |
5,355,355 |
950,712 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously
reported |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
4,234,959 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
4,234,959 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
44,221,897 |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
44,221,897 |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
27,564 |
59,884 |
28,218 |
33,505 |
477,062 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
27,564 |
59,884 |
28,218 |
33,505 |
477,062 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
1,190,018 |
1,539,880 |
933,686 |
447,276 |
221,398 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
1,190,018 |
1,539,880 |
933,686 |
447,276 |
221,398 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
IFFCO
(S.E.A.) SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
2,985,417 |
4,083,647 |
5,127,734 |
4,871,101 |
2,775,587 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
2,985,417 |
4,083,647 |
5,127,734 |
4,871,101 |
2,775,587 |
|
Trade
debtors |
132,089,915 |
144,676,183 |
97,953,446 |
89,740,524 |
17,788,342 |
|
Other
debtors, deposits & prepayments |
38,970,763 |
21,006,460 |
6,127,529 |
4,546,798 |
4,344,838 |
|
Short
term deposits |
13,500,000 |
2,000,000 |
- |
- |
1,610,058 |
|
Amount
due from related companies |
599,462 |
535,778 |
- |
1,529,543 |
- |
|
Cash
& bank balances |
83,605,361 |
38,137,588 |
10,459,316 |
8,082,380 |
24,461,377 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
268,765,501 |
206,356,009 |
114,540,291 |
103,899,245 |
48,204,615 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
271,750,918 |
210,439,656 |
119,668,025 |
108,770,346 |
50,980,202 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
31,171,381 |
44,781,216 |
51,430,874 |
47,352,052 |
428,393 |
|
Other
creditors & accruals |
21,912,807 |
14,176,163 |
43,538,229 |
43,004,038 |
36,117,281 |
|
Bill
& acceptances payable |
151,323,054 |
116,248,067 |
- |
- |
- |
|
Amounts
owing to related companies |
- |
- |
3,355 |
- |
848,386 |
|
Provision
for taxation |
500,000 |
788,112 |
292,503 |
584,836 |
569,083 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
204,907,242 |
175,993,558 |
95,264,961 |
90,940,926 |
37,963,143 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
63,858,259 |
30,362,451 |
19,275,330 |
12,958,319 |
10,241,472 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
66,843,676 |
34,446,098 |
24,403,064 |
17,829,420 |
13,017,059 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
22,000,000 |
10,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
22,000,000 |
10,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
Retained
profit/(loss) carried forward |
44,221,897 |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
44,221,897 |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
66,221,897 |
33,589,446 |
23,251,680 |
17,541,026 |
12,185,671 |
|
Deferred
taxation |
621,779 |
856,652 |
1,151,384 |
288,394 |
831,388 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
621,779 |
856,652 |
1,151,384 |
288,394 |
831,388 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
66,843,676 |
34,446,098 |
24,403,064 |
17,829,420 |
13,017,059 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
IFFCO
(S.E.A.) SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
97,105,361 |
40,137,588 |
10,459,316 |
8,082,380 |
26,071,435 |
|
Net
Liquid Funds |
(54,217,693) |
(76,110,479) |
10,459,316 |
8,082,380 |
26,071,435 |
|
Net
Liquid Assets |
63,858,259 |
30,362,451 |
19,275,330 |
12,958,319 |
10,241,472 |
|
Net Current
Assets/(Liabilities) |
63,858,259 |
30,362,451 |
19,275,330 |
12,958,319 |
10,241,472 |
|
Net
Tangible Assets |
66,843,676 |
34,446,098 |
24,403,064 |
17,829,420 |
13,017,059 |
|
Net
Monetary Assets |
63,236,480 |
29,505,799 |
18,123,946 |
12,669,925 |
9,410,084 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
20,813,682 |
9,451,596 |
7,827,439 |
5,667,715 |
1,750,105 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
22,003,700 |
10,991,476 |
8,761,125 |
6,114,991 |
1,971,503 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
151,323,054 |
116,248,067 |
0 |
0 |
0 |
|
Total
Liabilities |
205,529,021 |
176,850,210 |
96,416,345 |
91,229,320 |
38,794,531 |
|
Total
Assets |
271,750,918 |
210,439,656 |
119,668,025 |
108,770,346 |
50,980,202 |
|
Net
Assets |
66,843,676 |
34,446,098 |
24,403,064 |
17,829,420 |
13,017,059 |
|
Net
Assets Backing |
66,221,897 |
33,589,446 |
23,251,680 |
17,541,026 |
12,185,671 |
|
Shareholders'
Funds |
66,221,897 |
33,589,446 |
23,251,680 |
17,541,026 |
12,185,671 |
|
Total
Share Capital |
22,000,000 |
10,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
Total
Reserves |
44,221,897 |
23,589,446 |
16,251,680 |
10,541,026 |
5,185,671 |
|
GROWTH
RATIOS (Year on Year) |
|||||
|
Revenue |
58.54 |
29.68 |
123.45 |
3.92 |
(63.85) |
|
Proft/(Loss)
Before Tax |
121.32 |
20.42 |
38.43 |
342.58 |
(68.48) |
|
Proft/(Loss)
After Tax |
181.18 |
28.49 |
6.63 |
463.30 |
(67.49) |
|
Total
Assets |
29.13 |
75.85 |
10.02 |
113.36 |
(13.30) |
|
Total
Liabilities |
16.22 |
83.42 |
5.69 |
135.16 |
(18.44) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.47 |
0.23 |
0.11 |
0.09 |
0.69 |
|
Liquid
Ratio |
1.31 |
1.17 |
1.20 |
1.14 |
1.27 |
|
Current
Ratio |
1.31 |
1.17 |
1.20 |
1.14 |
1.27 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors
Ratio |
23 |
40 |
35 |
73 |
15 |
|
Creditors
Ratio |
6 |
13 |
19 |
40 |
0 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
2.29 |
3.46 |
0 |
0 |
0 |
|
Liabilities
Ratio |
3.10 |
5.27 |
4.15 |
5.20 |
3.18 |
|
Times
Interest Earned Ratio |
755.10 |
157.83 |
277.39 |
169.16 |
3.67 |
|
Assets
Backing Ratio |
3.04 |
3.44 |
3.49 |
2.55 |
1.86 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
1.00 |
0.72 |
0.77 |
1.25 |
0.29 |
|
Net
Profit Margin |
0.99 |
0.56 |
0.57 |
1.19 |
0.22 |
|
Return
On Net Assets |
31.14 |
27.44 |
32.08 |
31.79 |
13.44 |
|
Return
On Capital Employed |
31.14 |
27.44 |
32.08 |
31.79 |
13.44 |
|
Return
On Shareholders' Funds/Equity |
31.16 |
21.85 |
24.56 |
30.53 |
7.80 |
|
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 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
|
MYR |
1 |
INR 15.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.