|
|
|
MIRA INFORM REPORT
|
Report No. : |
484302 |
|
Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
NIHON SPINDLE
COOLING TOWERS SDN. BHD. |
|
|
|
|
Formerly Known As : |
NS COOLING TOWERS SDN BHD (17/11/2009) |
|
|
|
|
Registered Office : |
Unit 1-3-3, 1, Jalan P.Ramlee, 10460 Pulau
Pinang, Pulau Pinang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
10.08.2007 |
|
|
|
|
Com. Reg. No.: |
784210-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacturing of cooling towers. |
|
|
|
|
No. of Employees : |
80 [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. |
: |
784210-D |
||||
|
COMPANY NAME |
: |
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
||||
|
FORMER NAME |
: |
NS COOLING TOWERS SDN BHD (17/11/2009) |
||||
|
INCORPORATION DATE |
: |
10/08/2007 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
UNIT 1-3-3, 1, JALAN P.RAMLEE, 10460 PULAU
PINANG, PULAU PINANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
20B, JALAN PERUSAHAAN, PRAI INDUSTRIAL
ESTATE 4, 13600 PRAI, PULAU PINANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
04-5013322 |
||||
|
FAX.NO. |
: |
04-5082655 |
||||
|
CONTACT PERSON |
: |
LU ZHIFENG ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
27900 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF COOLING TOWERS |
||||
|
AUTHORISED CAPITAL |
: |
MYR
25,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR
17,200,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 20,742,054 [2017] |
||||
|
NET WORTH |
: |
MYR 11,495,251 [2017] |
||||
|
STAFF STRENGTH |
: |
80 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
STRONG GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The subject is principally engaged in the (as
a / as an) manufacturing of cooling towers.
The subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the Subject
is NIHON SPINDLE MANUFACTURING CO.LTD., a company incorporated in JAPAN.
The ultimate holding company of the Subject
is SUMITOMO HEAVY INDUSTRIES, LTD., a company incorporated in JAPAN.
Former Address(es)
|
Address |
As At Date |
|
85, 1ST FLOOR, BEACH STREET, 10300, PULAU
PINANG, MALAYSIA |
19/11/2017 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
24/02/2012 |
MYR 25,000,000.00 |
MYR 17,200,000.00 |
|
15/09/2010 |
MYR 10,000,000.00 |
MYR 5,700,000.00 |
|
30/03/2009 |
MYR 5,000,000.00 |
MYR 5,000,000.00 |
|
18/12/2008 |
MYR 5,000,000.00 |
MYR 4,000,000.00 |
|
20/12/2007 |
MYR 5,000,000.00 |
MYR 3,000,000.00 |
|
10/08/2007 |
MYR 5,000,000.00 |
MYR 3.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NIHON SPINDLE MANUFACTURING CO.LTD. |
4-2-30, SHIOEM, AMAGASAKI-CITY, HYOGO
661-8510 ,JAPAN |
1402-01-003410 |
15,535,598.00 |
90.32 |
|
MR. ONG PENG CHOR |
11A, DENAI BAYU 20, SERI TANJUNG PINANG, MALAYSIA,
10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
500921-07-5367 4084201 |
912,000.00 |
5.30 |
|
MR. ONG IK JIN + |
11A DENAI BAYU 20, SERI TANJUNG PINANG,
10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
820209-07-5315 |
570,000.00 |
3.31 |
|
LU ZHIFENG + |
1D-20-8, QUAYSIDE CONDO, SERI TANJUNG
PINANG, 10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
G43193666 |
1.00 |
0.00 |
|
MASATOSHI TAKEDA + |
NICK ASAHI 205, 2-9-13, TANAKA-CHOU,
HIGASHINADA-KU, KOBE-SHI, HYOGO, 658-0081, JAPAN |
TH1359063 |
1.00 |
0.00 |
|
MR. GOH GEE KHEONG |
21, JALAN KIKIK, TAMAN INDERAWASIH, 13600
PRAI, PULAU PINANG, MALAYSIA. |
600504-08-5765 6027522 |
182,400.00 |
1.06 |
|
--------------- |
------ |
|||
|
17,200,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
KOICHI INAOKA |
MALAYSIA |
6048807 |
1.00 |
N/A |
|
ONG IK CHUANG |
MALAYSIA |
790108-07-5071 |
285,000.00 |
N/A |
|
ONG JEAN WEI |
MALAYSIA |
691016-10-6084 |
N/A |
N/A |
|
ONG PENG NAM |
MALAYSIA |
440609-07-5053 |
N/A |
N/A |
|
RYOZO KUSHIDA |
JAPAN |
TG3515003 |
1.00 |
N/A |
|
TAISUKE FUNAMOTO |
MALAYSIA |
0668844 |
N/A |
N/A |
|
TSUGIO YANAGIHARA |
N/A |
TG3512178 |
1.00 |
N/A |
|
YASUSHI NEMOTO |
JAPAN |
TH9110470 |
1.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MAKOTO SUGIMOTO |
|
Address |
: |
10-3-303, KUMANO-CHO, NISHINOMIYA-SHI,
HYOGO, 663-8103 JAPAN |
|
Other Address(es) |
: |
- 35-27-4 MUTIARA VILLA, JALAN BAGAN JERMAL,
10250 GEORGETOWN, PULAU PINANG, MALAYSIA. - 2-25-605, MAKAMAEDA-CHO, NISHINOMIYA-SHI,
HYOGO, 662-0857, JAPAN. |
|
IC / PP No |
: |
TH1259025 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/06/2011 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
784210D |
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
Director |
01/06/2011 |
0.00 |
- |
MYR233,154.00 |
2017 |
- |
26/12/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
MASATOSHI TAKEDA |
|
Address |
: |
NICK ASAHI 205, 2-9-13, TANAKA-CHOU,
HIGASHINADA-KU, KOBE-SHI, HYOGO, 658-0081, JAPAN |
|
IC / PP No |
: |
TH1359063 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/08/2015 |
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 |
784210D |
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
Director |
01/08/2015 |
1.00 |
0.00001 |
MYR233,154.00 |
2017 |
- |
26/12/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
LU ZHIFENG |
|
Address |
: |
1D-20-8, QUAYSIDE CONDO, SERI TANJUNG
PINANG, 10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
IC / PP No |
: |
G43193666 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
30/09/2014 |
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 |
784210D |
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
Director |
30/09/2014 |
1.00 |
0.00001 |
MYR233,154.00 |
2017 |
- |
26/12/2017 |
DIRECTOR 4
|
Name Of Subject |
: |
MR. ONG IK JIN |
|
Address |
: |
11A DENAI BAYU 20, SERI TANJUNG PINANG,
10470 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
Other Address(es) |
: |
8, HALAMAN FREE SCHOOL, 11600 PULAU PINANG,
PULAU PINANG, MALAYSIA. |
|
New IC No |
: |
820209-07-5315 |
|
Date of Birth |
: |
09/02/1982 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/09/2014 |
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 |
1172368U |
KIDDY LANE SDN. BHD. |
Director |
16/05/2016 |
840,000.00 |
30.00 |
- |
- |
- |
26/12/2017 |
|
2 |
784210D |
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
Director |
30/09/2014 |
570,000.00 |
3.31 |
MYR233,154.00 |
2017 |
- |
26/12/2017 |
|
3 |
833802H |
OPN CAPITAL SDN. BHD. |
Director |
20/10/2014 |
0.00 |
- |
MYR(321,550.00) |
2012 |
- |
26/12/2017 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
TSUGIO YANAGIHARA |
1-18-11, MINAMIKOUSHIEN, NISHINOMIYA-CITY,
HYOGO, 663-8153, JAPAN |
TG3512178 |
10/08/2007 |
09/07/2009 |
|
ONG JEAN WEI |
NO.7,JALAN SS 4C/11, PEOPLE'S PARK, PETALING
JAYA, SELANGOR, MALAYSIA |
691016-10-6084 |
10/08/2007 |
07/09/2007 |
|
YOSHIO YUNOH |
23-3,HAGINODAI IKOMA CITY, NARA PREFECTURE
JAPAN |
TG8186836 |
04/10/2007 |
01/06/2011 |
|
ONG PENG NAM |
22-4-2, CANTONMENT ROAD, GEORGETOWN, PULAU PINANG,
MALAYSIA |
440609-07-5053 |
10/08/2007 |
20/12/2007 |
|
TAKASHI MINAMOTO |
1-1168,WAKAKUSA-CHO, OOBU-SHI,
AICHI,474-0022,JAPAN |
TH6155613 |
04/10/2007 |
01/06/2011 |
|
TAISUKE FUNAMOTO |
05-11-02, CENTURY BAY RESIDENCES, NO. 5, LINTANG
PANTAI JERJAK, SUNGAI NIBONG, PULAU PINANG, MALAYSIA |
TZ0668844 |
10/07/2009 |
01/06/2011 |
|
ONG SOO CHENG |
28, HALAMAN FREE SCHOOL, GEORGETOWN, PULAU
PINANG, MALAYSIA |
420807-07-5144 |
07/09/2007 |
04/10/2007 |
|
ONG PENG CHOR |
11A, DENAI BAYU 20, SERI TANJUNG PINANG,
MALAYSIA, TANJUNG TOKONG, PULAU PINANG, MALAYSIA |
500921-07-5367 |
04/10/2007 |
31/03/2012 |
|
SHINYA SUZUKI |
NO. 113-05-11 GOLD COAST, PERSIARAN BAYAN
INDAH, BAYAN LEPAS, PULAU PINANG, MALAYSIA |
TH5853978 |
30/03/2012 |
30/09/2014 |
|
KOTARO FUJIKAWA |
3-8-16 TSUKAWAKI, TAKATSUKI-SHI, OSAKA,
569-1036 JAPAN |
TH4998110 |
01/06/2011 |
01/08/2015 |
|
KOICHI INAOKA |
2-12-2026, KAWASAKI-CHO, AKASHI-SHI, HYOGO,
673-0014, JAPAN |
TH6048807 |
01/06/2011 |
30/09/2014 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LU ZHIFENG |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
BDO |
|
Auditor' Address |
: |
51-21-F, MENARA BHL, JALAN SULTAN AHMAD
SHAH, 10050 PULAU PINANG, PULAU PINANG, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. HENG FOOK TAU |
|
IC / PP No |
: |
4728173 |
|
|
New IC No |
: |
550202-01-5507 |
|
|
Address |
: |
UNIT N-9-8 TAMAN PERMAI INDAH, JALAN
HELANG, 11700 GELUGOR, PULAU PINANG, MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. LEE JUI HONG |
|
New IC No |
: |
840229-07-5425 |
|
|
Address |
: |
63B-17-11, SYMPHONY PARK, JALAN LENGGONG,
11600 PULAU PINANG, PULAU PINANG, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
HSBC BANK MALAYSIA BHD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
11/07/2008 |
N/A |
HSBC BANK MALAYSIA BERHAD |
MYR 3,400,000.00 |
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 |
: |
30% |
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Import Countries |
: |
UNITED STATES,EUROPE,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 |
Percentage |
: |
50% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
50% |
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 90 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
FACTORIES,HOSPITALS,HOTELS,HYPERMARKETS |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
Product Brand Name |
: |
|
|||||
|
Competitor(s) |
: |
CARRIER INTERNATIONAL
S/B |
|||||
|
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 |
80 |
80 |
80 |
75 |
72 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
cooling towers.
The Subject produces Nihon Spindle cooling towers.
The Subject's factory has the followings:
* Built on a 6.7 acre land with a combined production floor space of 60,000 sq
ft
* Combined office space of 5,000 sq ft
* Dedicated CTI standard test facility for cooling towers of 15,000 sq ft
* Manufacturing, Design, Quality Control and R&D led by qualified Japanese
managers.
The cooling towers are installed at shopping complexes, supermarkets, factories
and others.
The Subject utilizes advanced automated and semi-automated machineries to
ensure production of high quality products.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the
Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
04-5013322 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
20-B JALAN PERUSAHAAN, PRAI INDUSTRIAL ESTATE
4, 13600 PRAI, PENANG, MALAYSIA |
|
Current Address |
: |
20B, JALAN PERUSAHAAN, PRAI INDUSTRIAL
ESTATE 4, 13600 PRAI, PULAU PINANG, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
2.03% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.99% |
] |
|
|
The fluctuating turnover reflects the fierce
competition among the existing and new market players.The higher profit could
be attributed to the increase in turnover. The unfavourable return on
shareholders' funds could indicate that the Subject was inefficient in
utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
62 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
129 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
65 Days |
] |
|
|
The Subject kept adequate stocks to meet
its normal business transactions without incurring excessive storage costs.
The Subject's debtors ratio was high. The Subject should tighten its credit
control and improve its collection period. 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 |
: |
Favourable |
[ |
2.70 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.44 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 |
[ |
467.81 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the
Subject had maintained a steady growth in its profit. This indicate the
management's efficiency in controlling its costs and profitability. 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 was a zero gearing
company, it was solely dependant on its shareholders to provide funds to
finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
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 |
|
|
27900 : Manufacture of miscellaneous
electrical equipment other than motors, generators and transformers,
batteries and accumulators, wires and wiring devices, lighting equipment or
domestic appliances |
|
|
INDUSTRY : |
ELECTRICAL & ELECTRONIC |
|
Electrical & Electronic |
|
|
The electrical & electronics (E&E)
industry is the leading sector in Malaysia’s manufacturing. The E&E
industry in Malaysia can be categorized into four sub-sectors; consumer
electronics, electric components, industrial electronics and electrical. |
|
|
As a major part of the supply chain in the
technology sector, the importance of the E&E industry has grown
significantly while its contribution to the economy has grown more pronounce,
especially through the trade industry. |
|
|
Malaysia E&E industry has been highlighted
as one of the 12 National Key Economic Areas (NKEA) under the government’s
Economic Transformation Programme (ETP) to propel Malaysia into its 2020
vision of being a developed nation. For the E&E sector, keeping pace with
fast evolving technologies is crucial to the industry’s overall
competitiveness vis-a-vis other regional markets. |
|
|
According to International Trade and
Industry, the E&E industry grew by 20.6% in the first two months of 2017.
Malaysia achieved significant progress in the E&E industry over the last
decade that had resulted in the growth of new businesses and creation of
jobs. Malaysia was the world's seventh largest exporter of E&E products,
valued at RM287.7 billion in 2016, and made up 36% of Malaysia's total
exports. In addition, performance in 2016 was certainly better. 2016 total
trade in E&E only grew by 1.5%. Overall, our forecast is somewhere around
5% growth for 2017. |
|
|
The performance in the first two months of
2017 has been excellent. The machinery and equipment (M&E) industry also
grew robustly over the years with a strong export performance that
contributed to more than 5% of total exports of manufactured goods in 2016.
In 2016 the Malaysian Investment Development Authority (Mida) approved 88
M&E projects with investments of RM1.54 billion. |
|
|
A breakdown on exports of E&E products
from Malaysia shows that some of the main contributors to the increase in
exports to Asean were higher exports of electronic integrated circuits and
other E&E products. Malaysia’s Department of Statistics also reported
that there has been an increase of exports to the US and this was driven
mainly by manufactured goods which accounted for 94.8% of Malaysia’s total
exports to the country. |
|
|
As the demand for E&E products are
increasing worldwide, the implementation of free trade agreements such as the
Trans-Pacific Partnership Agreement (TPPA) has been viewed as beneficial to
sector as it could expose Malaysia’s E&E sector to a wider market. For
the E&E sector, the TPPA will not only offer huge market potentials for
Malaysian suppliers or investors, it will also encourage innovation and
productivity in the sector. |
|
|
OVERALL INDUSTRY OUTLOOK : Strong Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
|
Financial Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
|
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 |
20,742,054 |
14,226,510 |
17,353,327 |
15,492,976 |
13,770,394 |
|
Other Income |
754,669 |
124,954 |
685,538 |
256,440 |
132,281 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
21,496,723 |
14,351,464 |
18,038,865 |
15,749,416 |
13,902,675 |
|
Costs of Goods Sold |
(16,420,635) |
(10,613,962) |
(13,959,141) |
(12,141,665) |
(12,052,539) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
5,076,088 |
3,737,502 |
4,079,724 |
3,607,751 |
1,850,136 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
233,874 |
78,054 |
787,906 |
209,225 |
(1,135,706) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
233,874 |
78,054 |
787,906 |
209,225 |
(1,135,706) |
|
Taxation |
(720) |
(587) |
(28) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
233,154 |
77,467 |
787,878 |
209,225 |
(1,135,706) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
(5,876,767) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
(5,876,767) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(5,704,749) |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(5,704,749) |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
- |
20,942 |
85,145 |
47,682 |
|
Bankers' acceptance |
- |
- |
- |
- |
7,630 |
|
Hire purchase |
501 |
1,845 |
3,638 |
5,568 |
6,975 |
|
Term loan / Borrowing |
- |
- |
- |
- |
9,752 |
|
Others |
- |
- |
- |
- |
43,548 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
501 |
1,845 |
24,580 |
90,713 |
115,587 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
529,179 |
556,736 |
531,942 |
547,354 |
589,461 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
529,179 |
556,736 |
531,942 |
547,354 |
589,461 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,790,603 |
2,220,493 |
2,388,052 |
2,663,083 |
3,118,835 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,790,603 |
2,220,493 |
2,388,052 |
2,663,083 |
3,118,835 |
|
Stocks |
3,004,221 |
2,614,994 |
2,491,150 |
2,392,862 |
3,192,338 |
|
Contract work-in-progress |
532,916 |
171,158 |
302,475 |
296,389 |
- |
|
Trade debtors |
7,336,893 |
5,382,700 |
5,751,745 |
5,053,907 |
5,814,426 |
|
Other debtors, deposits & prepayments |
94,042 |
129,066 |
71,715 |
112,834 |
- |
|
Short term deposits |
66,854 |
54,955 |
53,251 |
51,600 |
50,000 |
|
Amount due from holding company |
- |
- |
11,107 |
164,440 |
81,570 |
|
Cash & bank balances |
3,064,879 |
3,178,490 |
3,505,635 |
5,003,758 |
2,640,238 |
|
Others |
10,663 |
5,863 |
- |
- |
92,075 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
14,110,468 |
11,537,226 |
12,187,078 |
13,075,790 |
11,870,647 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
15,901,071 |
13,757,719 |
14,575,130 |
15,738,873 |
14,989,482 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
2,924,965 |
1,732,551 |
2,262,336 |
1,728,632 |
1,928,299 |
|
Other creditors & accruals |
923,284 |
464,623 |
1,002,536 |
1,520,877 |
742,909 |
|
Hire purchase & lease creditors |
- |
24,771 |
31,639 |
36,202 |
38,137 |
|
Other borrowings |
- |
- |
- |
2,000,000 |
2,000,000 |
|
Deposits from customers |
258,571 |
273,677 |
- |
- |
- |
|
Amounts owing to holding company |
- |
- |
9,465 |
- |
- |
|
Amounts owing to subsidiary companies |
- |
- |
59,753 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,106,820 |
2,495,622 |
3,365,729 |
5,285,711 |
4,709,345 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
10,003,648 |
9,041,604 |
8,821,349 |
7,790,079 |
7,161,302 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
11,794,251 |
11,262,097 |
11,209,401 |
10,453,162 |
10,280,137 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
17,200,000 |
17,200,000 |
17,200,000 |
17,200,000 |
17,200,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
17,200,000 |
17,200,000 |
17,200,000 |
17,200,000 |
17,200,000 |
|
Retained profit/(loss) carried forward |
(5,704,749) |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(5,704,749) |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
11,495,251 |
11,262,097 |
11,184,630 |
10,396,752 |
10,187,527 |
|
Hire purchase creditors |
- |
- |
24,771 |
56,410 |
92,610 |
|
Others |
299,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
299,000 |
- |
24,771 |
56,410 |
92,610 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
11,794,251 |
11,262,097 |
11,209,401 |
10,453,162 |
10,280,137 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
NIHON SPINDLE COOLING TOWERS SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
3,131,733 |
3,233,445 |
3,558,886 |
5,055,358 |
2,690,238 |
|
Net Liquid Funds |
3,131,733 |
3,233,445 |
3,558,886 |
5,055,358 |
2,690,238 |
|
Net Liquid Assets |
6,999,427 |
6,426,610 |
6,330,199 |
5,397,217 |
3,968,964 |
|
Net Current Assets/(Liabilities) |
10,003,648 |
9,041,604 |
8,821,349 |
7,790,079 |
7,161,302 |
|
Net Tangible Assets |
11,794,251 |
11,262,097 |
11,209,401 |
10,453,162 |
10,280,137 |
|
Net Monetary Assets |
6,700,427 |
6,426,610 |
6,305,428 |
5,340,807 |
3,876,354 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
234,375 |
79,899 |
812,486 |
299,938 |
(1,020,119) |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
763,554 |
636,635 |
1,344,428 |
847,292 |
(430,658) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
24,771 |
56,410 |
2,092,612 |
2,130,747 |
|
Total Liabilities |
4,405,820 |
2,495,622 |
3,390,500 |
5,342,121 |
4,801,955 |
|
Total Assets |
15,901,071 |
13,757,719 |
14,575,130 |
15,738,873 |
14,989,482 |
|
Net Assets |
11,794,251 |
11,262,097 |
11,209,401 |
10,453,162 |
10,280,137 |
|
Net Assets Backing |
11,495,251 |
11,262,097 |
11,184,630 |
10,396,752 |
10,187,527 |
|
Shareholders' Funds |
11,495,251 |
11,262,097 |
11,184,630 |
10,396,752 |
10,187,527 |
|
Total Share Capital |
17,200,000 |
17,200,000 |
17,200,000 |
17,200,000 |
17,200,000 |
|
Total Reserves |
(5,704,749) |
(5,937,903) |
(6,015,370) |
(6,803,248) |
(7,012,473) |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
45.80 |
(18.02) |
12.01 |
12.51 |
19.56 |
|
Proft/(Loss) Before Tax |
199.63 |
(90.09) |
276.58 |
118.42 |
66.51 |
|
Proft/(Loss) After Tax |
200.97 |
(90.17) |
276.57 |
118.42 |
66.51 |
|
Total Assets |
15.58 |
(5.61) |
(7.39) |
5.00 |
(22.18) |
|
Total Liabilities |
76.54 |
(26.39) |
(36.53) |
11.25 |
(39.51) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.76 |
1.30 |
1.06 |
0.96 |
0.57 |
|
Liquid Ratio |
2.70 |
3.58 |
2.88 |
2.02 |
1.84 |
|
Current Ratio |
3.44 |
4.62 |
3.62 |
2.47 |
2.52 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
62 |
71 |
59 |
63 |
85 |
|
Debtors Ratio |
129 |
138 |
121 |
119 |
154 |
|
Creditors Ratio |
65 |
60 |
59 |
52 |
58 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0.01 |
0.20 |
0.21 |
|
Liabilities Ratio |
0.38 |
0.22 |
0.30 |
0.51 |
0.47 |
|
Times Interest Earned Ratio |
467.81 |
43.31 |
33.05 |
3.31 |
(8.83) |
|
Assets Backing Ratio |
0.69 |
0.65 |
0.65 |
0.61 |
0.60 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.13 |
0.55 |
4.54 |
1.35 |
(8.25) |
|
Net Profit Margin |
1.12 |
0.54 |
4.54 |
1.35 |
(8.25) |
|
Return On Net Assets |
1.99 |
0.71 |
7.25 |
2.87 |
(9.92) |
|
Return On Capital Employed |
1.99 |
0.71 |
7.23 |
2.86 |
(9.89) |
|
Return On Shareholders' Funds/Equity |
2.03 |
0.69 |
7.04 |
2.01 |
(11.15) |
|
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 63.47 |
|
|
1 |
INR 86.15 |
|
Euro |
1 |
INR 75.92 |
|
MYR |
1 |
INR 15.91 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.