|
|
|
MIRA INFORM REPORT
|
Report No. : |
484563 |
|
Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CJ POLYMERS SDN. BHD. |
|
|
|
|
Registered Office : |
44-2, Jalan 4/18a, Taman Mastiara, Batu 5 1/2, Off Jalan
Ipoh, 51200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
16.02.2001 |
|
|
|
|
Com. Reg. No.: |
539468-V |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the
trading of resin, polymers, textile, petrochemical, and fertilizer. |
|
|
|
|
No. of Employees : |
35 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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. |
: |
539468-V |
||||
|
COMPANY NAME |
: |
CJ POLYMERS SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
16/02/2001 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
44-2, JALAN 4/18A, TAMAN MASTIARA, BATU 5 1/2, OFF JALAN IPOH,
51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
B-6-16, VOX SOUTHGATE, JALAN DUA, OFF JALAN CHAN SOW LIN, 55200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-92213000 |
||||
|
FAX.NO. |
: |
03-92213006 |
||||
|
EMAIL |
: |
SALES@CJPOLYMERS.COM |
||||
|
WEB SITE |
: |
WWW.CJPOLYMERS.COM |
||||
|
CONTACT PERSON |
: |
KERK HAN MENG ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46693 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF RESIN, POLYMERS, TEXTILE, PETROCHEMICAL, AND
FERTILIZER |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
15,000,000.00 ORDINARY SHARE, OF A VALUE OF MYR 15,000,000.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
35 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is an exempt private company which is allowed to have
a minimum of two and a maximum of twenty shareholders and all the shareholders
must be individuals. An exempt company is a type of private limited company. 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, suing or be sued by other companies. The Subject is governed by the
Companies Act, 1965 and must file in its annual return. The Subject need not
file in its financial statements but it has to file in a document duly signed
by its director in charge of its finance, the secretary and its auditor stating
that the Subject is able to meet all its obligations as and when they fall due.
Although the Subject is not required to file in its financial statements, it
also has to prepare its financial account which must be presented at the Annual
General Meeting.
The Subject is principally engaged in the (as a / as an) trading
of resin, polymers, textile, petrochemical, and fertilizer.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Former Address(es)
|
Address |
As At Date |
|
LEVEL 29-9,LOBBY A, WISMA UOA II, 19 JLN PINANG, 50450, WILAYAH
PERSEKUTUAN, MALAYSIA |
15/02/2013 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
23/10/2017 |
N/A |
MYR 15,000,000.00 |
|
26/04/2017 |
N/A |
MYR 13,000,000.00 |
|
26/09/2016 |
MYR 10,000,000.00 |
MYR 10,000,000.00 |
|
27/05/2016 |
MYR 10,000,000.00 |
MYR 4,000,000.00 |
|
01/04/2013 |
MYR 5,000,000.00 |
MYR 4,000,000.00 |
|
31/03/2010 |
MYR 5,000,000.00 |
MYR 2,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. SIM CHIN HU + |
5, JALAN SHB 5, SUBANG HEIGHTS, 47500 SUBANG JAYA, SELANGOR,
MALAYSIA. |
711010-03-5081 A1907114 |
7,500,000.00 |
50.00 |
|
MR. KERK HAN MENG + |
87 JALAN JALIL PERKASA 19, TAMAN ESPLANAD, BUKIT JALIL, 57000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
730320-01-5127 A2383713 |
7,500,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
15,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
LOK PEY LING |
MALAYSIA |
731129-01-5094 |
2,000,000.00 |
N/A |
|
NG SOO HAN |
MALAYSIA |
710603-06-5054 |
2,000,000.00 |
N/A |
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
852819T |
MALAYSIA |
CJ PETROCHEMICALS SDN. BHD. |
- |
100.00 |
27/11/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. SIM CHIN HU |
|
Address |
: |
5, JALAN SHB 5, SUBANG HEIGHTS, 47500 SUBANG JAYA, SELANGOR,
MALAYSIA. |
|
Other Address(es) |
: |
1 JALAN BU 11/13, BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A1907114 |
|
New IC No |
: |
711010-03-5081 |
|
Date of Birth |
: |
10/10/1971 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/03/2014 |
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 |
852819T |
CJ PETROCHEMICALS SDN. BHD. |
Director |
16/04/2015 |
0.00 |
- |
MYR(3,438.00) |
2016 |
- |
26/12/2017 |
|
2 |
539468V |
CJ POLYMERS SDN. BHD. |
Director |
05/03/2014 |
7,500,000.00 |
50.00 |
MYR700,886.00 |
2010 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
627634A |
TECHNODEX BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MR. KERK HAN MENG |
|
Address |
: |
87 JALAN JALIL PERKASA 19, TAMAN ESPLANAD, BUKIT JALIL, 57000
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
B-08-02 KIARAMAS SUTERA, 7 JALAN DESA KIARA, BUKIT KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
A2383713 |
|
New IC No |
: |
730320-01-5127 |
|
Date of Birth |
: |
20/03/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
05/03/2014 |
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 |
852819T |
CJ PETROCHEMICALS SDN. BHD. |
Director |
16/04/2015 |
0.00 |
- |
MYR(3,438.00) |
2016 |
- |
26/12/2017 |
|
2 |
539468V |
CJ POLYMERS SDN. BHD. |
Director |
05/03/2014 |
7,500,000.00 |
50.00 |
MYR700,886.00 |
2010 |
- |
26/12/2017 |
|
3 |
934637V |
DRAGON KINGDOM SDN. BHD. |
Director |
30/03/2011 |
6,000.00 |
60.00 |
MYR61,268.00 |
2012 |
- |
26/12/2017 |
|
4 |
651340M |
HENG SENG LY DEVELOPMENT SDN. BHD. |
Director |
30/04/2004 |
35,000.00 |
35.00 |
MYR(949.00) |
2016 |
- |
26/12/2017 |
|
5 |
942388T |
HM KERK SDN. BHD. |
Director |
28/04/2011 |
50,000.00 |
50.00 |
MYR(86,412.00) |
2016 |
- |
26/12/2017 |
|
6 |
451685P |
HSB GROUP SDN. BHD. |
Shareholder |
- |
1,514,428.00 |
4.59 |
MYR54,737,063.00 |
2015 |
- |
26/12/2017 |
|
7 |
223880A |
HUP SENG BROTHERS HOLDINGS SDN. BHD. |
Shareholder |
- |
101,269.00 |
4.81 |
MYR298,565.00 |
2016 |
- |
26/12/2017 |
|
8 |
31372V |
HUP SENG HOON YONG BROTHERS SDN. BHD. |
Director |
01/07/2016 |
0.00 |
- |
MYR18,554,023.00 |
2016 |
- |
26/12/2017 |
|
9 |
226098P |
HUP SENG INDUSTRIES BERHAD |
Shareholder |
- |
6,206,666.00 |
0.78 |
MYR49,405,747.00 |
2016 |
- |
26/12/2017 |
|
10 |
19770K |
HUP SENG PERUSAHAAN MAKANAN (M) SDN. BHD. |
Director |
01/07/2016 |
0.00 |
- |
MYR32,527,728.00 |
2016 |
- |
26/12/2017 |
|
11 |
330793K |
KERK CHOO SOON HOLDINGS SDN. BHD. |
Director |
16/01/1995 |
200,000.00 |
20.00 |
MYR11,448.00 |
2016 |
- |
26/12/2017 |
|
12 |
1004961D |
METROLEAF SDN. BHD. |
Director |
08/06/2012 |
42,000.00 |
60.00 |
MYR(91,181.00) |
2016 |
- |
26/12/2017 |
|
13 |
627634A |
TECHNODEX BHD. |
Shareholder |
- |
31,731,086.00 |
7.68 |
MYR2,323,026.00 |
2017 |
- |
26/12/2017 |
|
14 |
935176P |
WONDERMIND SDN. BHD. |
Shareholder |
- |
52,500.00 |
15.00 |
MYR(1,094,341.00) |
2017 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
662245X |
EVODEX SOLUTIONS SDN. BHD. |
Director |
04/05/2011 |
20/09/2016 |
- |
- |
|
2 |
1186785K |
HOTELSURFS SDN. BHD. |
Director |
12/05/2016 |
20/09/2016 |
- |
- |
|
3 |
884887D |
IDEALSEED ARROWHEAD SDN. BHD. |
Director |
31/10/2014 |
20/09/2016 |
- |
- |
|
4 |
672828V |
IDEALSEED RESOURCES SDN. BHD. |
Director |
31/10/2014 |
20/09/2016 |
- |
- |
|
5 |
908184D |
INTALENT HR CONSULTING SDN. BHD. |
Director |
05/01/2015 |
12/08/2016 |
- |
- |
|
6 |
1150443M |
MYPROPERTY DATA SDN. BHD. |
Director |
01/10/2015 |
20/09/2016 |
- |
- |
|
7 |
1188201U |
SURFSTEK INNOVATION SDN. BHD. |
Director |
26/05/2016 |
20/09/2016 |
- |
- |
|
8 |
1150933X |
SURFSTEK RESOURCES (R&D) SDN. BHD. |
Director |
22/12/2015 |
20/09/2016 |
- |
- |
|
9 |
627634A |
TECHNODEX BHD. |
Director |
12/01/2009 |
20/09/2016 |
- |
- |
|
10 |
540720V |
TECHNODEX SOLUTIONS SDN. BHD. |
Director |
04/05/2011 |
20/09/2016 |
- |
- |
|
11 |
1076323V |
THE WISDOM TREE TRAINING SERVICES SDN. BHD. |
Director |
05/01/2015 |
12/08/2016 |
- |
- |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
LOK PEY LING |
NO. 1, JALAN PERDANA 2/A,, TAMAN BUKIT PERDANA,, MALAYSIA, BATU
PAHAT, JOHOR, MALAYSIA |
731129-01-5094 |
16/02/2001 |
30/06/2015 |
|
NG SOO HAN |
NO. 1, JALAN BU 11/13, BANDAR UTAMA, PETALING JAYA, SELANGOR,
MALAYSIA |
710603-06-5054 |
16/02/2001 |
30/06/2015 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KERK HAN MENG |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
YEH & CO. |
|
Auditor' Address |
: |
NO. 44-2, JALAN 4/18A, TAMAN MASTIARA, 51200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. WONG NGIA MING |
|
IC / PP No |
: |
K0095414 |
|
|
New IC No |
: |
660202-13-5557 |
|
|
Address |
: |
42, JALAN PUTERI 8/3, BANDAR PUTERI PUCHONG, 47100 PUCHONG,
SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
2) |
Name |
: |
STANDARD CHARTERED BANK MALAYSIA BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
10/11/2008 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
2 |
10/11/2008 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
3 |
10/11/2008 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
4 |
24/11/2008 |
OPEN CHARGE |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Satisfied |
|
5 |
21/10/2010 |
DEED OF ASSIGNMENT |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
6 |
20/04/2011 |
DEED OF ASSIGNMENT |
HONG LEONG ISLAMIC BANK BERHAD |
MYR 1,993,685.88 |
Unsatisfied |
|
7 |
29/11/2012 |
N/A |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
8 |
27/01/2014 |
N/A |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
9 |
19/02/2014 |
N/A |
STANDARD CHARTERED BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
10 |
07/01/2015 |
N/A |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
11 |
21/10/2015 |
N/A |
HSBC BANK MALAYSIA BERHAD |
- |
Unsatisfied |
|
12 |
23/02/2016 |
N/A |
RHB ISLAMIC BANK BERHAD |
MYR 4,843,000.00 |
Unsatisfied |
|
13 |
01/07/2016 |
N/A |
AMBANK (M) BERHAD |
MYR 12,500,000.00 |
Unsatisfied |
|
14 |
09/11/2016 |
N/A |
HONG LEONG BANK 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 |
Percentage |
: |
50% |
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Import Countries |
: |
CHINA,VIETNAM,KOREA |
|||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
50% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
PLASTIC MANUFACTURER,OIL & GAS INDUSTRIES,DEPARTMENTAL
STORES |
|||
OPERATIONS
|
|
Goods Traded |
: |
|
|||||
|
Competitor(s) |
: |
|
|||||
|
Ownership of premises |
: |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
35 |
30 |
30 |
20 |
25 |
||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of resin,
polymers, textile, petrochemical, and fertilizer.
The Subject is an international distribution and trading company that established
since 2001. It is a renowned central hub for worldwide procurement and
marketing of petrochemicals, polymers and textile raw materials. Its diverse
range of suppliers assures continuity of supply to our customers.
The Subject assist the customers in international marketing, procurement of
commodities and sales bases both internationally and domestically.
The Subject also constantly exploring new products and developments to add
value for our customers' businesses.
The role as product sourcing company is to assist the customers obtain raw
material like petrochemical, fertilizer, yarns and others to source for their
business product output.
The Subject provides practical and professional assistance in marketing and
sales to our customers in selling their products. In terms of logistics,
customers can be assured with our expertise in handling and shipping their
cargoes to the destination safely and on time.
The Subject also have a team of advisers to give advice and support to
customers for documentations procedures needed when running businesses
internationally.
Besides that, in terms of logistics, customers can be assured with their
expertise in handling and shipping their cargoes to the destination safely and
on time.
The Subject also have a team of advisors to give advice and support to
customers for documentations procedures needed when running businesses
internationally.
The Subject sells it products based on customer's orders.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
0392213000 |
|
Current Telephone Number |
: |
03-92213000 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
B-6-16 VOX SOUTHGATE JALAN DUA OFF JALAN CHAN SOW LIN 55200
KUALA LUMPUR |
|
Current Address |
: |
B-6-16, VOX SOUTHGATE, JALAN DUA, OFF JALAN CHAN SOW LIN, 55200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
The Subject is a private exempt company which does not need to file
in its accounts with the Registrar of Companies for the information of the
public. Therefore, we are not able to comment on the Subject's financial
performance. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
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 |
|
|
46693 : Wholesale of plastic materials in primary forms |
|
|
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
|
|
|
FINANCIAL
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
CJ POLYMERS SDN. BHD. |
Note : The Subject is an Exempt Private Company and it is not
required by law to file its financials for public view. The below financials
are the last financial that submitted by the Subject to the Registrar before
changed to Exempt Private Company.
|
Financial Year End |
2010-03-31 |
|
Months |
12 |
|
Consolidated Account |
GROUP |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
MYR |
|
TURNOVER |
83,988,755 |
|
Other Income |
60,502 |
|
---------------- |
|
|
Total Turnover |
84,049,257 |
|
Costs of Goods Sold |
(79,630,463) |
|
---------------- |
|
|
Gross Profit |
4,418,794 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,070,438 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,070,438 |
|
Taxation |
(369,552) |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
700,886 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
As previously reported |
4,707,108 |
|
---------------- |
|
|
As restated |
4,707,108 |
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
5,407,994 |
|
CAPITALISATION FOR BONUS ISSUES |
(1,000,000) |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,407,994 |
|
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
Others |
305,095 |
|
---------------- |
|
|
305,095 |
|
|
============= |
|
|
DEPRECIATION (as per notes to P&L) |
219,621 |
|
---------------- |
|
|
Total Amortization And Depreciation |
219,621 |
|
============= |
|
BALANCE SHEET |
|
CJ POLYMERS SDN. BHD. |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
996,136 |
|
---------------- |
|
|
TOTAL LONG TERM ASSETS |
996,136 |
|
Trade debtors |
4,884,209 |
|
Other debtors, deposits & prepayments |
1,632,487 |
|
Cash & bank balances |
1,381,462 |
|
Others |
3,513 |
|
---------------- |
|
|
TOTAL CURRENT ASSETS |
7,901,671 |
|
---------------- |
|
|
TOTAL ASSET |
8,897,807 |
|
============= |
|
|
CURRENT LIABILITIES |
|
|
Trade creditors |
1,315,675 |
|
Other creditors & accruals |
577,932 |
|
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,893,607 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
6,008,064 |
|
---------------- |
|
|
TOTAL NET ASSETS |
7,004,200 |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
2,000,000 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,000,000 |
|
Retained profit/(loss) carried forward |
4,407,994 |
|
---------------- |
|
|
TOTAL RESERVES |
4,407,994 |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
6,407,994 |
|
Long term loans |
596,206 |
|
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
596,206 |
|
---------------- |
|
|
7,004,200 |
|
|
============= |
|
|
FINANCIAL RATIO |
|
CJ POLYMERS SDN. BHD. |
|
TYPES OF FUNDS |
|
|
Cash |
1,381,462 |
|
Net Liquid Funds |
1,381,462 |
|
Net Liquid Assets |
6,008,064 |
|
Net Current Assets/(Liabilities) |
6,008,064 |
|
Net Tangible Assets |
7,004,200 |
|
Net Monetary Assets |
5,411,858 |
|
PROFIT & LOSS ITEMS |
|
|
Earnings Before Interest & Tax (EBIT) |
1,375,533 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
1,595,154 |
|
BALANCE SHEET ITEMS |
|
|
Total Borrowings |
596,206 |
|
Total Liabilities |
2,489,813 |
|
Total Assets |
8,897,807 |
|
Net Assets |
7,004,200 |
|
Net Assets Backing |
6,407,994 |
|
Shareholders' Funds |
6,407,994 |
|
Total Share Capital |
2,000,000 |
|
Total Reserves |
4,407,994 |
|
GROWTH RATIOS (Year on Year) |
|
|
Revenue |
459.18 |
|
Proft/(Loss) Before Tax |
217.96 |
|
Proft/(Loss) After Tax |
181.52 |
|
Total Assets |
387.57 |
|
Total Liabilities |
87.23 |
|
LIQUIDITY (Times) |
|
|
Cash Ratio |
0.73 |
|
Liquid Ratio |
4.17 |
|
Current Ratio |
4.17 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
Debtors Ratio |
21 |
|
Creditors Ratio |
6 |
|
SOLVENCY RATIOS (Times) |
|
|
Gearing Ratio |
0.09 |
|
Liabilities Ratio |
0.39 |
|
Times Interest Earned Ratio |
4.51 |
|
Assets Backing Ratio |
3.50 |
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
1.27 |
|
Net Profit Margin |
0.83 |
|
Return On Net Assets |
19.64 |
|
Return On Capital Employed |
19.64 |
|
Return On Shareholders' Funds/Equity |
10.94 |
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 15.88 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
KET |
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.