|
|
|
MIRA INFORM REPORT
|
Report No. : |
484538 |
|
Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KEONGCO MALAYSIA SDN. BHD. |
|
|
|
|
Registered Office : |
9, Jalan 1/114, Kuchai
Business Centre, Off Jalan Kuchai Lama, 58200 Kuala Lumpur, Wilayah
Persekutuan,. |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
04.07.1988 |
|
|
|
|
Com. Reg. No.: |
171699-M |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in distribution of garlic, onion, dried chillies
and other culinary foods. |
|
|
|
|
No. of Employees : |
200 [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 : |
Good |
|
|
|
|
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. |
: |
171699-M |
||||
|
COMPANY
NAME |
: |
KEONGCO
MALAYSIA SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
04/07/1988 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
9,
JALAN 1/114, KUCHAI BUSINESS CENTRE, OFF JALAN KUCHAI LAMA, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
LOT
8920, JALAN BESAR, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31343388 |
||||
|
FAX.NO. |
: |
03-31343288 |
||||
|
EMAIL |
: |
MASNIE@KEONGCO.COM.MY |
||||
|
WEB
SITE |
: |
WWW.KEONGCO.COM.MY |
||||
|
CONTACT
PERSON |
: |
LEE SOO
EONG ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
46329 |
||||
|
PRINCIPAL
ACTIVITY |
: |
DISTRIBUTION
OF GARLIC, ONION, DRIED CHILLIES AND OTHER CULINARY FOODS |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
5,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
2,800,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
142,375,433 [2016] |
||||
|
NET
WORTH |
: |
MYR
16,448,693 [2016] |
||||
|
M1000
OVERALL RANKING |
: |
793[2005] |
||||
|
M1000
INDUSTRY RANKING |
: |
62[2005] |
||||
|
STAFF
STRENGTH |
: |
200
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as a /
as an) distribution of garlic, onion, dried chillies and other culinary foods.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
|
According
to the Malaysia 1000 publication, the Subject's ranking are as follows: |
|||
|
YEAR |
2005 |
||
|
OVERALL
RANKING |
793 |
||
|
INDUSTRY
RANKING |
62 |
||
The
immediate holding company of the Subject is KEONGCO HOLDINGS SDN. BHD., a
company incorporated in MALAYSIA.
Former Address(es)
|
Address |
As At
Date |
|
11-1,
JALAN KUCHAI MAJU 8, KUCHAI ENTEPRENEURS PARK, OFF JALAN KUCHAI LAMA, 58200,
WILAYAH PERSEKUTUAN, MALAYSIA |
01/01/2017 |
|
3535-D,
1ST FLOOR, JALAN KUALA KRAI, 15050, KELANTAN, MALAYSIA |
19/10/1992 |
|
LOT 680,
LOCAL INDUSTRIAL ESTATE, PENGKALAN CHEPA, 16100, KELANTAN, MALAYSIA |
22/12/2011 |
|
4662-G,
1ST FLOOR, JALAN SULTAN YAHYA PETRA, 15200, KELANTAN, MALAYSIA |
26/05/1997 |
|
3893-D/1,
JALAN HAMZAH, 15050, KELANTAN, MALAYSIA |
30/09/1999 |
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
23/06/1999 |
MYR
5,000,000.00 |
MYR
2,800,000.00 |
|
21/07/1996 |
MYR
5,000,000.00 |
MYR
2,500,000.00 |
|
16/05/1996 |
MYR
5,000,000.00 |
MYR
2,440,550.00 |
|
02/05/1996 |
MYR
5,000,000.00 |
MYR
1,729,466.00 |
|
14/08/1993 |
MYR
1,000,000.00 |
MYR
979,466.00 |
|
31/10/1992 |
MYR
1,000,000.00 |
MYR
883,987.00 |
|
26/01/1992 |
MYR
1,000,000.00 |
MYR
822,987.00 |
|
22/09/1991 |
MYR
500,000.00 |
MYR
492,925.00 |
|
28/06/1990 |
MYR
500,000.00 |
MYR
332,925.00 |
|
05/06/1990 |
MYR
500,000.00 |
MYR
164,920.00 |
|
17/09/1988 |
MYR
200,000.00 |
MYR
39,998.00 |
|
04/07/1988 |
MYR
200,000.00 |
MYR
2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
KEONGCO
HOLDINGS SDN. BHD. |
LOT
8920, JALAN BESAR, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
501026U |
2,800,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,800,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
256992A |
MALAYSIA |
CENTRAL
EIGHT (M) SDN. BHD. |
- |
100.00 |
27/11/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MS. TAN
SORK ENG |
|
Address |
: |
LOT
680, LOCAL INDUSTRIAL EASTERN, PENGKALAN CHEPA, 16100 KOTA BHARU, KELANTAN,
MALAYSIA. |
|
IC / PP
No |
: |
6255921 |
|
New IC
No |
: |
610826-07-5008 |
|
Date of
Birth |
: |
26/08/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
01/03/2002 |
|
Remark |
: |
ALTERNATE
DIRECTOR TO LEE SOO EONG |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
see
below |
|
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 |
256992A |
CENTRAL
EIGHT (M) SDN. BHD. |
Director |
01/03/2002 |
0.00 |
- |
MYR509,485.00 |
2016 |
- |
26/12/2017 |
|
2 |
161593M |
HONEYCO
FOOD INDUSTRIES SDN. BHD. |
Director |
01/03/2002 |
0.00 |
- |
MYR(14,114.00) |
2016 |
- |
26/12/2017 |
|
3 |
501026U |
KEONGCO
HOLDINGS SDN. BHD. |
Director |
01/03/2002 |
0.00 |
- |
MYR(446,606.00) |
2008 |
- |
26/12/2017 |
|
4 |
171699M |
KEONGCO
MALAYSIA SDN. BHD. |
Director |
01/03/2002 |
0.00 |
- |
MYR2,703,797.00 |
2016 |
- |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
AS0108968W |
ROSE
ENTERPRISE |
SOLE
PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
27/11/2017 |
DIRECTOR 2
|
Name Of
Subject |
: |
MR. LEE
SOO EONG |
|
Address |
: |
LOT
8920, JALAN BESAR, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
Other
Address(es) |
: |
LOT 680
LOCAL INDUSTRIAL, ESTATE PENGKALAN CHEPA, 16100 KOTA BHARU, KELANTAN, MALAYSIA. |
|
IC / PP
No |
: |
5470336 |
|
New IC
No |
: |
580926-07-5123 |
|
Date of
Birth |
: |
26/09/1958 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
11/04/1996 |
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 |
299952U |
BERIBU
GEMILANG SDN. BHD. |
Shareholder |
- |
72,940.00 |
14.00 |
MYR(4,352.00) |
2016 |
- |
26/12/2017 |
|
2 |
554349T |
BUILDERS
RANGE SDN. BHD. |
Director |
21/11/2016 |
24,000.00 |
8.00 |
MYR(89,204.00) |
2016 |
- |
26/12/2017 |
|
3 |
256992A |
CENTRAL
EIGHT (M) SDN. BHD. |
Director |
22/02/1993 |
0.00 |
- |
MYR509,485.00 |
2016 |
- |
26/12/2017 |
|
4 |
264734V |
KEONGCO
DEVELOPMENT SDN. BHD. |
Director |
21/05/1993 |
0.00 |
- |
MYR244,383.00 |
2016 |
- |
26/12/2017 |
|
5 |
501026U |
KEONGCO
HOLDINGS SDN. BHD. |
Director |
20/03/2000 |
2,998,800.00 |
21.00 |
MYR(446,606.00) |
2008 |
- |
26/12/2017 |
|
6 |
171699M |
KEONGCO
MALAYSIA SDN. BHD. |
Director |
11/04/1996 |
0.00 |
- |
MYR2,703,797.00 |
2016 |
- |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
AS0050753V |
LEE SOO
EONG |
SOLE
PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
27/11/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
303129A |
TOP
ASSIGNMENTS SYSTEMS SDN. BHD. |
Director |
18/06/1996 |
09/07/1996 |
- |
- |
DIRECTOR 3
|
Name Of
Subject |
: |
MR. LEE
SU KIANG |
|
Address |
: |
LOT 680,
LOCAL INDUSTRIAL ESTATE, PENGKALAN CHEPA, 16100 KOTA BHARU, KELANTAN,
MALAYSIA. |
|
IC / PP
No |
: |
4818443 |
|
New IC
No |
: |
550617-07-5077 |
|
Date of
Birth |
: |
17/06/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
31/05/1990 |
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 |
1011648V |
BELANGA
BINA SDN. BHD. |
Director |
09/01/2015 |
820.00 |
41.00 |
MYR166,926.00 |
2016 |
- |
26/12/2017 |
|
2 |
299952U |
BERIBU
GEMILANG SDN. BHD. |
Director |
16/01/1999 |
250,080.00 |
48.00 |
MYR(4,352.00) |
2016 |
- |
26/12/2017 |
|
3 |
256992A |
CENTRAL
EIGHT (M) SDN. BHD. |
Director |
15/09/1998 |
0.00 |
- |
MYR509,485.00 |
2016 |
- |
26/12/2017 |
|
4 |
161593M |
HONEYCO
FOOD INDUSTRIES SDN. BHD. |
Director |
02/05/2001 |
0.00 |
- |
MYR(14,114.00) |
2016 |
- |
26/12/2017 |
|
5 |
264734V |
KEONGCO
DEVELOPMENT SDN. BHD. |
Director |
01/10/1998 |
0.00 |
- |
MYR244,383.00 |
2016 |
- |
26/12/2017 |
|
6 |
501026U |
KEONGCO
HOLDINGS SDN. BHD. |
Director |
20/03/2000 |
5,283,600.00 |
37.00 |
MYR(446,606.00) |
2008 |
- |
26/12/2017 |
|
7 |
171699M |
KEONGCO
MALAYSIA SDN. BHD. |
Director |
31/05/1990 |
0.00 |
- |
MYR2,703,797.00 |
2016 |
- |
26/12/2017 |
|
8 |
690397T |
SETIA
HARTAMAS SDN. BHD. |
Shareholder |
- |
50,000.00 |
10.00 |
MYR(574,859.00) |
2016 |
- |
26/12/2017 |
|
9 |
939465V |
TERANG
VISTA SDN. BHD. |
Director |
01/10/2014 |
1,380.00 |
23.00 |
MYR(2,311.00) |
2015 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
1102602A |
ENERVISTA
SDN. BHD. |
Director |
21/08/2014 |
19/01/2015 |
- |
- |
|
2 |
1102602A |
ENERVISTA
SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 4
|
Name Of
Subject |
: |
MS. KOK
SIEW CHEN |
|
Address |
: |
1050,
JALAN CHE SU, 15000 KOTA BHARU, KELANTAN, MALAYSIA. |
|
Other
Address(es) |
: |
LOT 680
LOCAL INDUSTRIAL, ESTATE PENGKALAN CHEPA, 16100 KOTA BHARU, KELANTAN,
MALAYSIA. |
|
IC / PP
No |
: |
6009267 |
|
New IC
No |
: |
601005-03-5100 |
|
Date of
Birth |
: |
05/10/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
01/04/1995 |
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 |
299952U |
BERIBU
GEMILANG SDN. BHD. |
Director |
16/01/1999 |
72,940.00 |
14.00 |
MYR(4,352.00) |
2016 |
- |
26/12/2017 |
|
2 |
256992A |
CENTRAL
EIGHT (M) SDN. BHD. |
Director |
22/02/1993 |
0.00 |
- |
MYR509,485.00 |
2016 |
- |
26/12/2017 |
|
3 |
161593M |
HONEYCO
FOOD INDUSTRIES SDN. BHD. |
Director |
25/10/1998 |
0.00 |
- |
MYR(14,114.00) |
2016 |
- |
26/12/2017 |
|
4 |
264734V |
KEONGCO
DEVELOPMENT SDN. BHD. |
Director |
21/05/1993 |
0.00 |
- |
MYR244,383.00 |
2016 |
- |
26/12/2017 |
|
5 |
501026U |
KEONGCO
HOLDINGS SDN. BHD. |
Director |
12/12/1999 |
2,998,800.00 |
21.00 |
MYR(446,606.00) |
2008 |
- |
26/12/2017 |
|
6 |
171699M |
KEONGCO
MALAYSIA SDN. BHD. |
Director |
01/04/1995 |
0.00 |
- |
MYR2,703,797.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
298486T |
AXIS
LIGHTING (MALAYSIA) SDN. BHD. |
Director |
21/09/1996 |
29/11/2005 |
- |
- |
|
2 |
298486T |
AXIS LIGHTING
(MALAYSIA) SDN. BHD. |
Shareholder |
- |
- |
22501.00 |
- |
|
3 |
304029W |
STRONG
HORSE TRANSPORT SDN. BHD. |
Director |
25/03/2003 |
30/01/2015 |
- |
- |
|
4 |
304029W |
STRONG
HORSE TRANSPORT SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 5
|
Name Of
Subject |
: |
MS. KOK
SHY YUNN |
|
Address |
: |
17,
LORONG BATU NILAM 6D, BANDAR BUKIT TINGGI, 41200 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP
No |
: |
A2655542 |
|
New IC
No |
: |
740417-03-5238 |
|
Date of
Birth |
: |
17/04/1974 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
10/08/2003 |
|
Remark |
: |
ALTERNATE
DIRECTOR TO KOK SHIEW CHEN |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
see
below |
|
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 |
256992A |
CENTRAL
EIGHT (M) SDN. BHD. |
Director |
10/08/2003 |
0.00 |
- |
MYR509,485.00 |
2016 |
- |
26/12/2017 |
|
2 |
161593M |
HONEYCO
FOOD INDUSTRIES SDN. BHD. |
Director |
10/08/2003 |
0.00 |
- |
MYR(14,114.00) |
2016 |
- |
26/12/2017 |
|
3 |
171699M |
KEONGCO
MALAYSIA SDN. BHD. |
Director |
10/08/2003 |
0.00 |
- |
MYR2,703,797.00 |
2016 |
- |
26/12/2017 |
|
4 |
1139792V |
WARISAN
BITARA SDN. BHD. |
Director |
25/05/2015 |
31.00 |
31.00 |
- |
- |
- |
26/12/2017 |
|
5 |
1192682W |
WINNER
LOGISTICS (M) SDN. BHD. |
Director |
27/06/2016 |
40,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
SA0054167U |
SING
YUNN ENTERPRISE |
SOLE
PROPRIETORSHIP |
06/04/2007 |
100.00 |
- |
27/11/2017 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP
No |
Appointed
Date |
Withdrawn
Date |
|
WONG
CHEE YOONG |
19,
JALAN SETIAMURNI 4, BUKIT DAMANSARA, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
481113-07-5237 |
02/05/2001 |
14/11/2004 |
|
LEE
CHEW HWA |
PT
939,TMN MURNI,PANCOR, KEMUMIN,PENGKALAN CHEPA, K.BARU, KOTA BHARU, KELANTAN,
MALAYSIA |
3770306 |
04/07/1988 |
09/02/1993 |
|
LEE SOO
HEAN |
LOT 680
LOCAL IND. ESTATE, PENGKALAN CHEPA, KOTA BHARU, KOTA BHARU, KELANTAN, MALAYSIA |
521220-07-5041 |
25/08/1988 |
03/10/2008 |
|
LEE
BENG HUAT |
NO. 6,
JALAN TEKOMA 3, AMBANG BOTANIC, KLANG, SELANGOR, MALAYSIA |
660808-07-5333 |
15/11/1996 |
29/03/2003 |
|
AHMAD
FUAD BIN ABDUL WAHAB |
9,LGC BELAIR
APT, LORONG BASONG, DAMANSARA HEIGHTS, K.L., KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
661203-10-6293 |
02/05/2001 |
14/11/2004 |
Note :
The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
LEE SOO
EONG |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
JB LAU |
|
Auditor'
Address |
: |
9-4,
JALAN 1/114, KUCHAI BUSIMNESS CENTRE, OFF JALAN KUCHAI LAMA, 58200 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MAH
SIEW PENG |
|
IC / PP
No |
: |
7456862 |
|
|
New IC
No |
: |
641104-03-5356 |
|
|
Address |
: |
11-A,
JALAN SS 3/8, TAMAN SENTOSA, 47400 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
2) |
Company
Secretary |
: |
MS.
PHOON SOW CHENG |
|
IC / PP
No |
: |
4604622 |
|
|
New IC
No |
: |
540507-07-5018 |
|
|
Address |
: |
73,
JALAN SS1/23, 47300 PETALING JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BAN HIN
LEE BANK BERHAD |
|
2) |
Name |
: |
CIMB
BANK BHD |
|
3) |
Name |
: |
HSBC
BANK MALAYSIA BHD |
|
4) |
Name |
: |
MALAYAN
BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
30/01/1989 |
DEBENTURE |
BAN HIN
LEE BANK BERHAD |
MYR
200,000.00 |
Satisfied |
|
3 |
15/02/1990 |
N/A |
CIMB
BANK BERHAD |
MYR
50,000.00 |
Satisfied |
|
2 |
21/02/1990 |
DEBENTURE |
BAN HIN
LEE BANK BERHAD |
MYR
730,000.00 |
Satisfied |
|
4 |
10/05/1990 |
MORTGAGE |
BAN HIN
LEE BANK BERHAD |
MYR
730,000.00 |
Satisfied |
|
5 |
15/08/1990 |
DEBENTURE |
BAN HIN
LEE BANK BERHAD |
MYR
220,000.00 |
Satisfied |
|
6 |
16/09/1990 |
MORTGAGE |
BAN HIN
LEE BANK BERHAD |
MYR
220,000.00 |
Satisfied |
|
7 |
24/02/1991 |
N/A |
BAN HIN
LEE BANK BERHAD |
MYR
450,000.00 |
Satisfied |
|
8 |
24/02/1991 |
CHARGE |
BAN HIN
LEE BANK BERHAD |
MYR
150,000.00 |
Satisfied |
|
9 |
08/01/1994 |
DEPOSIT |
CIMB
BANK BERHAD |
MYR
242,000.00 |
Satisfied |
|
10 |
11/09/1996 |
DEPOSIT |
CIMB
BANK BERHAD |
MYR
17,200,000.00 |
Satisfied |
|
11 |
16/09/1996 |
CHARGE |
CIMB
BANK BERHAD |
MYR
17,200,000.00 |
Satisfied |
|
12 |
04/08/1997 |
DEPOSIT |
CIMB
BANK BERHAD |
MYR
2,000,000.00 |
Satisfied |
|
13 |
12/01/1998 |
N/A |
MALAYAN
BANGKING BERHAD |
MYR
1,100,000.00 |
Satisfied |
|
14 |
18/02/1998 |
CHARGE |
CIMB
BANK BERHAD |
MYR 15,000,000.00 |
Satisfied |
|
15 |
22/08/2000 |
CHARGE |
BUMIPUTRACOMMERCE
BANK BERHAD |
MYR
10,000,000.00 |
Satisfied |
|
16 |
06/09/2001 |
LEGAL
CHARGE |
MALAYAN
BANKING BERHAD |
MYR
1,100,000.00 |
Satisfied |
|
17 |
12/02/2008 |
LEGAL
CHARGE |
HSBC BANK
MALAYSIA BERHAD |
- |
Satisfied |
|
18 |
25/04/2008 |
CHARGE |
HSBC
BANK MALAYSIA BERHAD |
- |
Satisfied |
|
19 |
09/07/2009 |
LEGAL
CHARGE |
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 |
|
Overseas |
: |
YES |
|
Import Countries |
: |
CHINA,MYANMAR,INDONESIA,INDIA,THAILAND |
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 |
: |
ASIA |
|||
|
Credit
Term |
: |
30 - 60
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Type of
Customer |
: |
GROCERY
STORES,DEALERS,SUPERMARKETS |
|||
OPERATIONS
|
|
Goods
Traded |
: |
GARLIC,
ONION, DRIED CHILLIES AND OTHER CULINARY FOODS |
|||||
|
Competitor(s) |
: |
CARGILL
FOOD INGREDIENTS SDN. BHD. |
|||||
|
Member(s)
/ Affiliate(s) |
: |
SELANGOR
FREIGHT FORWARDERS AND LOGISTICS ASSOCIATION MALAYSIA
FOOD & BEVERAGE INDUSTRY |
|||||
|
Ownership
of premises |
: |
OWNED |
|
Total Number
of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
2013 |
|||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
|||
|
COMPANY |
200 |
180 |
180 |
180 |
180 |
180 |
|||
|
Branch |
: |
YES |
|
|
No of Branches |
: |
1 |
|
|
Branch(es) |
: |
LOT
680, LOCAL INDUSTRIAL ESTATE, PENGKALAN CHEPA, 16100 KOTA BHARU, KELANTAN,
MALAYSIA. Tel No:
09-7730294 Fax No:
09-7736584 |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) distribution of
garlic, onion, dried chillies and other culinary foods.
The Subject is one of the largest wholesaler and importer of all kind
foodstuffs in Malaysia.
The Subject sells a wide range of products which includes:
* Core Products - White garlic, smoked garlic, onions, shallots, potatoes.
* Beans and Pulses - Green mung beans, black eye beans, red beans, chick peas,
soya beans, dhal, white millet, cashew nut, pistachios.
* Spices - Cinnamon stick, cumin seeds, coriander seeds, black/white pepper,
star anise, dried chili, clove, fennel seeds, ginger, fenugreek seeds, turmeric
finger, cardamom, tamarind, candle nut, long pepper, grain, rice, sugar, corn,
barley, wheat flour, soya meal.
* Miscellaneous - Groundnuts, sesame seeds, raisin, corn flour, jaggery powder,
chili powder.
* Packaging - Fried onions, canned lychee, canned mackerel, curry paste, chili
paste.
Besides that the Subject also provides services as follows :
* Cold room & Warehousing
- A state-of-the-art cold room with a storage capacity of few thousand metric
tons for preserving the quality of products.
* Logistics & Shipping
- Rendering in-house shipping, forwarding, transport services and delivery of
cargoes to customer doorstep.
* Pre- Shipment Handling
- Include quality checking, arrangement of vessel, preparation of documentation
and other relevant services especially for international trade.
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-31343388 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
LOT 8920,
JALAN BESAR TELOK GONG, 42000 PORT KLANG, SELANGOR |
|
Current
Address |
: |
LOT
8920, JALAN BESAR, TELOK GONG, 42000 PELABUHAN KLANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted
one of the staff from the Subject and he provided some information.
The address provided also can be used for the Subject.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 -
2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2012 -
2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
16.44% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
18.41% |
] |
|
|
The Subject's
turnover increased steadily as the demand for its products / services
increased due to the goodwill built up over the years.The Subject's
management have been efficient in controlling its operating costs. The
Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
31 Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
72 Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The favourable debtors' days could be due
to the good credit control measures implemented by the Subject. The
unfavourable creditors' ratio could be due to the Subject taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the Subject and its suppliers and the Subject may inadvertently have
to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Acceptable |
[ |
0.88
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.50
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Acceptable |
[ |
8.07
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.19
Times |
] |
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its
profit or sudden increase in the interest rates, we believe the Subject is
able to generate sufficient income to service its interest and repay the
loans. The Subject was lowly geared thus it had a low financial risk. The
Subject was mainly financed by its shareholders' funds and internally
generated funds. In times of economic slowdown / downturn, the Subject being
a lowly geared company, will be able to compete better than those companies
which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. The Subject's
liquidity was at an acceptable range. If the Subject is able to obtain
further short term financing, it should be able to meet all its short term
obligations. The Subject had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. The Subject as a lowly geared company, will be more secured
compared to those highly geared companies. It has the ability to meet all its
long term obligations. |
||||||
|
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
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING
STANDARDS(FRS) |
|
KEONGCO
MALAYSIA 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 |
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 |
142,375,433 |
133,090,923 |
106,454,159 |
128,537,837 |
114,672,505 |
|
Other
Income |
3,591,080 |
1,499,132 |
1,148,514 |
740,751 |
1,417,007 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
145,966,513 |
134,590,055 |
107,602,673 |
129,278,588 |
116,089,512 |
|
Costs
of Goods Sold |
(129,576,871) |
(119,172,139) |
(95,489,773) |
(116,427,075) |
(103,873,818) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
16,389,642 |
15,417,916 |
12,112,900 |
12,851,513 |
12,215,694 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
2,704,248 |
2,511,918 |
(116,252) |
882,672 |
679,784 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
2,704,248 |
2,511,918 |
(116,252) |
882,672 |
679,784 |
|
Taxation |
(451) |
(108,233) |
(399,799) |
(245,184) |
(273,343) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
2,703,797 |
2,403,685 |
(516,051) |
637,488 |
406,441 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
9,213,333 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
9,213,333 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
14,848,693 |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(1,200,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
13,648,693 |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
382,602 |
643,992 |
560,014 |
859,908 |
831,912 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
382,602 |
643,992 |
560,014 |
859,908 |
831,912 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
543,901 |
858,416 |
760,648 |
712,093 |
765,886 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
543,901 |
858,416 |
760,648 |
712,093 |
765,886 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
KEONGCO
MALAYSIA SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
1,980,050 |
2,214,512 |
2,207,192 |
2,715,812 |
3,235,200 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
332,293 |
332,293 |
332,293 |
332,293 |
332,293 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
332,293 |
332,293 |
332,293 |
332,293 |
332,293 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
2,312,343 |
2,546,805 |
2,539,485 |
3,048,105 |
3,567,493 |
|
Stocks |
17,888,288 |
13,749,829 |
15,041,391 |
10,873,675 |
9,947,840 |
|
Trade
debtors |
12,244,334 |
15,443,452 |
9,445,786 |
17,725,950 |
14,167,288 |
|
Other
debtors, deposits & prepayments |
442,989 |
422,026 |
264,401 |
290,915 |
561,349 |
|
Short
term loan to financial institutions |
6,799,079 |
5,712,219 |
3,500,611 |
3,625,231 |
- |
|
Amount
due from holding company |
305,071 |
296,071 |
289,076 |
280,725 |
250,725 |
|
Amount
due from subsidiary companies |
4,556,104 |
3,101,789 |
3,815,067 |
4,267,298 |
4,934,186 |
|
Amount
due from related companies |
- |
- |
10,156 |
- |
19,590 |
|
Cash
& bank balances |
548,803 |
1,886,611 |
2,003,887 |
1,413,310 |
1,880,233 |
|
Others |
827,771 |
356,521 |
219,754 |
- |
2,685,572 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
43,612,439 |
40,968,518 |
34,590,129 |
38,477,104 |
34,446,783 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
45,924,782 |
43,515,323 |
37,129,614 |
41,525,209 |
38,014,276 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
25,394,392 |
11,568,038 |
15,414,383 |
18,730,529 |
7,033,710 |
|
Other
creditors & accruals |
789,070 |
820,963 |
1,022,801 |
1,190,466 |
1,134,718 |
|
Hire
purchase & lease creditors |
257,078 |
226,062 |
148,949 |
408,470 |
625,021 |
|
Bank
overdraft |
- |
- |
34,614 |
51,712 |
2,209,511 |
|
Bill
& acceptances payable |
2,635,000 |
15,190,000 |
7,412,000 |
7,749,000 |
13,893,000 |
|
Amounts
owing to related companies |
82,263 |
76,682 |
- |
54,236 |
- |
|
Provision
for taxation |
- |
- |
- |
13,496 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
29,157,803 |
27,881,745 |
24,032,747 |
28,197,909 |
24,895,960 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
14,454,636 |
13,086,773 |
10,557,382 |
10,279,195 |
9,550,823 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
16,766,979 |
15,633,578 |
13,096,867 |
13,327,300 |
13,118,316 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
2,800,000 |
2,800,000 |
2,800,000 |
2,800,000 |
2,800,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
2,800,000 |
2,800,000 |
2,800,000 |
2,800,000 |
2,800,000 |
|
Retained
profit/(loss) carried forward |
13,648,693 |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
13,648,693 |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
16,448,693 |
14,944,896 |
12,541,211 |
13,057,262 |
12,419,774 |
|
Hire
purchase creditors |
268,286 |
378,682 |
115,656 |
130,038 |
458,542 |
|
Deferred
taxation |
50,000 |
310,000 |
440,000 |
140,000 |
240,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
318,286 |
688,682 |
555,656 |
270,038 |
698,542 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
16,766,979 |
15,633,578 |
13,096,867 |
13,327,300 |
13,118,316 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
KEONGCO
MALAYSIA SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
548,803 |
1,886,611 |
2,003,887 |
1,413,310 |
1,880,233 |
|
Net
Liquid Funds |
(2,086,197) |
(13,303,389) |
(5,442,727) |
(6,387,402) |
(14,222,278) |
|
Net
Liquid Assets |
(3,433,652) |
(663,056) |
(4,484,009) |
(594,480) |
(397,017) |
|
Net
Current Assets/(Liabilities) |
14,454,636 |
13,086,773 |
10,557,382 |
10,279,195 |
9,550,823 |
|
Net
Tangible Assets |
16,766,979 |
15,633,578 |
13,096,867 |
13,327,300 |
13,118,316 |
|
Net
Monetary Assets |
(3,751,938) |
(1,351,738) |
(5,039,665) |
(864,518) |
(1,095,559) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
3,086,850 |
3,155,910 |
443,762 |
1,742,580 |
1,511,696 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
3,630,751 |
4,014,326 |
1,204,410 |
2,454,673 |
2,277,582 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
3,160,364 |
15,794,744 |
7,711,219 |
8,339,220 |
17,186,074 |
|
Total Liabilities |
29,476,089 |
28,570,427 |
24,588,403 |
28,467,947 |
25,594,502 |
|
Total
Assets |
45,924,782 |
43,515,323 |
37,129,614 |
41,525,209 |
38,014,276 |
|
Net
Assets |
16,766,979 |
15,633,578 |
13,096,867 |
13,327,300 |
13,118,316 |
|
Net Assets
Backing |
16,448,693 |
14,944,896 |
12,541,211 |
13,057,262 |
12,419,774 |
|
Shareholders'
Funds |
16,448,693 |
14,944,896 |
12,541,211 |
13,057,262 |
12,419,774 |
|
Total
Share Capital |
2,800,000 |
2,800,000 |
2,800,000 |
2,800,000 |
2,800,000 |
|
Total
Reserves |
13,648,693 |
12,144,896 |
9,741,211 |
10,257,262 |
9,619,774 |
|
GROWTH
RATIOS (Year on Year) |
|||||
|
Revenue |
6.98 |
25.02 |
(17.18) |
12.09 |
(21.63) |
|
Proft/(Loss)
Before Tax |
7.66 |
2,260.75 |
(113.17) |
29.85 |
124.42 |
|
Proft/(Loss)
After Tax |
12.49 |
565.78 |
(180.95) |
56.85 |
182.95 |
|
Total
Assets |
5.54 |
17.20 |
(10.59) |
9.24 |
18.19 |
|
Total
Liabilities |
3.17 |
16.19 |
(13.63) |
11.23 |
27.02 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.02 |
0.07 |
0.08 |
0.05 |
0.08 |
|
Liquid
Ratio |
0.88 |
0.98 |
0.81 |
0.98 |
0.98 |
|
Current
Ratio |
1.50 |
1.47 |
1.44 |
1.36 |
1.38 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
46 |
38 |
52 |
31 |
32 |
|
Debtors
Ratio |
31 |
42 |
32 |
50 |
45 |
|
Creditors
Ratio |
72 |
35 |
59 |
59 |
25 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.19 |
1.06 |
0.61 |
0.64 |
1.38 |
|
Liabilities
Ratio |
1.79 |
1.91 |
1.96 |
2.18 |
2.06 |
|
Times
Interest Earned Ratio |
8.07 |
4.90 |
0.79 |
2.03 |
1.82 |
|
Assets Backing
Ratio |
5.99 |
5.58 |
4.68 |
4.76 |
4.69 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
1.90 |
1.89 |
(0.11) |
0.69 |
0.59 |
|
Net
Profit Margin |
1.90 |
1.81 |
(0.48) |
0.50 |
0.35 |
|
Return
On Net Assets |
18.41 |
20.19 |
3.39 |
13.08 |
11.52 |
|
Return
On Capital Employed |
18.13 |
19.90 |
3.34 |
12.64 |
9.48 |
|
Return
On Shareholders' Funds/Equity |
16.44 |
16.08 |
(4.11) |
4.88 |
3.27 |
|
Dividend
Pay Out Ratio (Times) |
0.44 |
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 63.34 |
|
|
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.15 |
|
MYR |
1 |
INR 15.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.