|
|
|
MIRA INFORM REPORT
|
Report No. : |
485229 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BIDARA FLOUR SDN. BHD. |
|
|
|
|
Formerly Known As : |
·
BIDARA
VENTURES SDN. BHD. ·
BIDARA
FOODS SDN. BHD. |
|
|
|
|
Registered Office : |
R-11, Lot 9 & 11, Jalan Tukang 16/4, Kawasan Perindustrian, Seksyen 16, 40702 Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2015 |
|
|
|
|
Date of Incorporation : |
15.01.2003 |
|
|
|
|
Com. Reg. No.: |
603679-W |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in flour distributor. |
|
|
|
|
No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
603679-W |
||||
|
COMPANY
NAME |
: |
BIDARA
FLOUR SDN. BHD. |
||||
|
FORMER
NAME |
: |
BIDARA
VENTURES SDN. BHD. (17/12/2009) |
||||
|
INCORPORATION
DATE |
: |
15/01/2003 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
R-11,
LOT 9 & 11, JALAN TUKANG 16/4, KAWASAN PERINDUSTRIAN, SEKSYEN 16, 40702
SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
NO 1,
JALAN LADA HITAM 16/12, 40200 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-55114612 |
||||
|
FAX.NO. |
: |
03-55114613 |
||||
|
CONTACT
PERSON |
: |
AHMAD
BIN HASSAN ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
46321 |
||||
|
PRINCIPAL
ACTIVITY |
: |
FLOUR
DISTRIBUTOR |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
2,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
2,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
6,866,124 [2015] |
||||
|
NET
WORTH |
: |
MYR
(2,749,981) [2015] |
||||
|
STAFF
STRENGTH |
: |
n/a
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
SLOW |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
HIGH |
||||
|
CURRENCY
EXPOSURE |
: |
N/A |
||||
|
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) flour distributor.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At
Date |
|
R-07,
1ST FLOOR, 44, JALAN PENGASAH 15/13, SEKSYEN 15, 40200, SELANGOR, MALAYSIA |
01/01/2017 |
|
D-08-3,
BLOCK D, PLAZA GLOMAC, JALAN SS 7/19, KELANA JAYA, 47301, SELANGOR, MALAYSIA |
02/06/2016 |
|
NO.
12B, 2ND FLOOR, BLOCK B, WORLDWIDE BUSINESS CENTRE, JALAN TINJU 13/50,
SEKSYEN 13, 40675, SELANGOR, MALAYSIA |
15/02/2013 |
|
UNIT 407.
BLOCK A, KELAN BUSINESS CENTRE, 97, JALAN SS7/2, 47301, SELANGOR, MALAYSIA |
26/10/2010 |
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
06/10/2016 |
MYR
2,000,000.00 |
MYR
2,000,000.00 |
|
30/12/2010 |
MYR 1,000,000.00
|
MYR
1,000,000.00 |
|
30/10/2003 |
MYR
500,000.00 |
MYR
500,000.00 |
|
22/05/2003 |
MYR
100,000.00 |
MYR
100,000.00 |
|
15/01/2003 |
MYR
1,000,000.00 |
MYR
2.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current Shareholder(s)
:
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
ALI AL
RAWAHI + |
PV 12,
B BUILDING, B 26-5, UNIT DANAU KOTA, JALAN LANGKAWI, 53000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
HH6760132 |
910,000.00 |
45.50 |
|
MR. AHMAD
BIN HASSAN + |
107,
JALAN FOREST HEIGHTS 3, SEREMBAN FOREST HEIGHTS, 70450 SEREMBAN, NEGERI
SEMBILAN, MALAYSIA. |
590929-04-5615 |
690,000.00 |
34.50 |
|
MS. CHE
NORIHAN BINTI CHE YOB |
197,
JALAN SS5/1, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
600609-09-5118
5876190 |
400,000.00 |
20.00 |
|
--------------- |
------ |
|||
|
2,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
Former
Shareholder(s) :
|
Name |
Country |
IC/PP/Loc
No |
Shareholding |
Last
Updated |
|
BIDARA KACA
SDN. BHD. |
MALAYSIA |
594311V |
500,000.00 |
N/A |
|
CHE
ABDUL RAZAK BIN CHE YOOK |
MALAYSIA |
631117-09-5113 |
100,000.00 |
N/A |
|
IZHAM
BIN HASHIM |
MALAYSIA |
620325-09-5093 |
N/A |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MR. AHMAD
BIN HASSAN |
|
Address |
: |
107,
JALAN FOREST HEIGHTS 3, SEREMBAN FOREST HEIGHTS, 70450 SEREMBAN, NEGERI
SEMBILAN, MALAYSIA. |
|
Other
Address(es) |
: |
NO.25
JLN PJS 11/12, TMN SUBANG INDAH, 43000 SUBANG JAYA, MALAYSIA. |
|
New IC
No |
: |
590929-04-5615 |
|
Date of
Birth |
: |
29/09/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
18/02/2010 |
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 |
603679W |
BIDARA FLOUR
SDN. BHD. |
Director |
18/02/2010 |
690,000.00 |
34.50 |
MYR62,529.00 |
2015 |
- |
26/12/2017 |
|
2 |
1230299V |
BIDARA
FOOD SDN. BHD. |
Director |
11/05/2017 |
52,000.00 |
52.00 |
- |
- |
- |
26/12/2017 |
|
3 |
857818D |
SAYAN'S
CAFE SDN. BHD. |
Director |
21/05/2009 |
1.00 |
50.00 |
- |
- |
In the
process of striking off |
26/12/2017 |
|
4 |
722959X |
SUNRISE
SYMPHONY SDN. BHD. |
Director |
13/03/2006 |
122,499.00 |
35.00 |
- |
- |
In the
process of striking off |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
000890272P |
ARAHMAD
ENTERPRISE |
SOLE
PROPRIETORSHIP |
18/06/2004 |
100.00 |
- |
26/12/2017 |
|
2 |
NS0170341P |
BIDARA
FOOD ENTERPRISE |
PARTNERSHIP |
26/09/2016 |
50.00 |
- |
26/12/2017 |
|
3 |
NS0170337A |
BIDARA
FROZEN FOOD ENTERPRISE |
PARTNERSHIP |
26/09/2016 |
50.00 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
1181165K |
BIDARA
RICE SDN. BHD. |
Director |
28/03/2016 |
13/12/2016 |
- |
- |
|
2 |
1181165K |
BIDARA
RICE SDN. BHD. |
Shareholder |
- |
- |
100000 |
- |
|
3 |
747282K |
CHOKEE
INTERNATIONAL SDN. BHD. |
Director |
13/09/2006 |
01/01/2012 |
- |
- |
|
4 |
747282K |
CHOKEE
INTERNATIONAL SDN. BHD. |
Shareholder |
- |
- |
30000.00 |
- |
|
5 |
743985H |
CORDAMED
SDN. BHD. |
Director |
10/10/2006 |
24/04/2007 |
- |
- |
|
6 |
529799P |
OCEAN
TRIANGLE SDN. BHD. |
Director |
03/11/2004 |
16/08/2005 |
- |
- |
|
7 |
529799P |
OCEAN
TRIANGLE SDN. BHD. |
Shareholder |
- |
- |
200000.00 |
- |
DIRECTOR 2
|
Name Of
Subject |
: |
ALI AL
RAWAHI |
|
Address |
: |
PV 12,
B BUILDING, B 26-5, UNIT DANAU KOTA, JALAN LANGKAWI, 53000 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP
No |
: |
HH6760132 |
|
Date of
Birth |
: |
26/07/1958 |
|
Nationality |
: |
OMANI |
|
Date of
Appointment |
: |
25/07/2016 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
603679W |
BIDARA
FLOUR SDN. BHD. |
Director |
25/07/2016 |
910,000.00 |
45.50 |
MYR62,529.00 |
2015 |
- |
26/12/2017 |
|
2 |
1230299V |
BIDARA
FOOD SDN. BHD. |
Director |
11/05/2017 |
48,000.00 |
48.00 |
- |
- |
- |
26/12/2017 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP
No |
Appointed
Date |
Withdrawn
Date |
|
IZHAM
BIN HASHIM |
1,JALAN
SS 5D/11B, KELANA JAYA, SELANGOR |
620325095093 |
15/01/2003 |
11/06/2010 |
|
MUHAMMAD
YUSRI BIN YUNUS |
NO. 9, JALAN
BUKIT PERMAI 2/4, TAMAN BUKIT PERMAI, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
680612-03-5231 |
15/03/2012 |
29/05/2012 |
|
CHE
ABDUL RAZAK BIN CHE YOOK |
SS
5D/11A, KELANA JAYA, PETALING JAYA, SELANGOR, MALAYSIA |
631117-09-5113 |
11/06/2010 |
15/03/2012 |
|
ARIFF
BIN HAD |
NO 40,
JALAN DAHLIA 1/8, TAMAN DAHLIA, BANDAR BARU SALAK TINGGI, SEPANG, SELANGOR,
MALAYSIA |
690318-09-5099 |
15/03/2012 |
29/05/2012 |
|
CHE
NORIHAN BINTI CHE YOB |
197,
JALAN SS5/1, PETALING JAYA, SELANGOR, MALAYSIA |
600609-09-5118 |
29/05/2012 |
17/06/2016 |
|
FAIZUL
BIN HUSSAIN |
37
JALAN TEPUAN DUA 8/4B, SHAH ALAM, SELANGOR, SHAH ALAM, SELANGOR, MALAYSIA |
601008-08-5963 |
17/06/2016 |
25/07/2016 |
Note :
The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
AHMAD
BIN HASSAN |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
HISHAM
& CO. |
|
Auditor'
Address |
: |
D-08-03,
BLOCK D, LEFT WING, PLAZA GLOMAC, JALAN SS 7/19, KELANA JAYA, 47301 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MS.
SALMI BINTI SALLEH |
|
IC / PP
No |
: |
A2714791 |
|
|
New IC
No |
: |
740514-08-6766 |
|
|
Address |
: |
R-11,
LOT 9 & 11, JALAN TUKANG 16/4, KAWASAN PERINDUSTRIAN SEKSYEN 16, 40702
SHAH ALAM, SELANGOR, MALAYSIA. |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN
BANKING BHD |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
02/12/2010 |
FACILITY
AGREEMENT & OTHERS |
PERBADANAN
USAHAWAN NASIONAL BERHAD |
MYR
2,000,000.00 |
Unsatisfied |
|
2 |
27/10/2014 |
DEBENTURE
& DEED OF ASSIGNMENT |
PERBADANAN
USAHAWAN NASIONAL BERHAD |
MYR
700,000.00 |
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
NO |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
FLOUR |
|||||
|
Competitor(s) |
: |
BERAS
CORPORATION SDN. BHD. |
|||||
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2018 |
2017 |
|||||||
|
|
|||||||||
|
COMPANY |
n/a |
n/a |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) flour distributor.
The Subject are certified by the Islamic Law.
The products are free from hazadous chemicals such as (Benzoyl Peroxide).
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-55114612 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
NO.1,JALAN
LADA HITAN 16/12, SHAH ALAM, 40200 SELANGOR, |
|
Current
Address |
: |
NO 1, JALAN
LADA HITAM 16/12, 40200 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 -
2015 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011 -
2015 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
(2.27%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(9.36%) |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and new
market players.The management had succeeded in turning the Subject into a
profit making company. The profit could be due to better control of its
operating costs and efficiency in utilising its resources. The Subject's
unfavourable returns on shareholders' funds indicate the management's
inefficiency in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
27 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
4 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 Subject
had a favourable creditors' ratio where the Subject could be taking advantage
of the cash discounts and also wanting to maintain goodwill with its
creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Unfavourable |
[ |
0.29
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.29
Times |
] |
|
|
A low
liquid ratio means that the Subject may be facing working capital deficiency.
If the Subject cannot obtain additional financing or injection of fresh
capital, it may face difficulties in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
1.56
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
(0.91
Times) |
] |
|
|
The
Subject's interest cover was low. If its profits fall or when interest rate
rises, it may not be able to meet all its interest payment. The Subject's
gearing was negative during the year as its shareholders' funds was in the
red. This means the Subject is running its business using borrowed money. We
consider the Subject as facing high financial risks. |
||||||
|
Overall
Assessment : |
||||||
|
The
Subject's turnover showed a volatile trend but its losses were lower when
compared to the previous corresponding period. This could suggest that the Subject
was more efficient in its operating cost control and was more competitive.
Due to its weak liquidity position, the Subject will be faced with problems
in meeting all its short term obligations if no short term loan is obtained
or additional capital injected into the Subject. If there is a fall in the
Subject's profit or any increase in interest rate, the Subject may not be
able to generate sufficient cash-flow to service its interest. The Subject
has high financial risks. If its shareholders do not inject more capital into
the company or if its business performance does not improve, its going
concern may be in question. |
||||||
|
Overall
financial condition of the Subject : POOR |
||||||
|
|
||||||
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 |
|
|
46321 :
Wholesale of rice, other grains, flour and sugars |
|
|
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) |
|
BIDARA
FLOUR SDN. BHD. |
|
Financial
Year End |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
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 |
6,866,124 |
3,846,892 |
4,770,813 |
1,585,720 |
1,437,275 |
|
Other
Income |
1,577 |
8,306 |
2,425 |
2,956 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
6,867,701 |
3,855,198 |
4,773,238 |
1,588,676 |
1,437,275 |
|
Costs
of Goods Sold |
(5,805,542) |
(3,416,328) |
(4,361,565) |
(1,497,130) |
(2,079,290) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
1,062,159 |
438,870 |
411,673 |
91,546 |
(642,015) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
84,322 |
(458,672) |
(262,984) |
(528,252) |
(1,610,063) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
84,322 |
(458,672) |
(262,984) |
(528,252) |
(1,610,063) |
|
Taxation |
(21,793) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
62,529 |
(458,672) |
(262,984) |
(528,252) |
(1,610,063) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
(952,539) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
(952,539) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(3,749,981) |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(3,749,981) |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Term
loan / Borrowing |
150,497 |
223,925 |
59,760 |
113,311 |
28,064 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
150,497 |
223,925 |
59,760 |
113,311 |
28,064 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
14,695 |
110,020 |
108,263 |
108,735 |
107,703 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
14,695 |
110,020 |
108,263 |
108,735 |
107,703 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
BIDARA
FLOUR SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
149,230 |
140,397 |
232,125 |
339,948 |
448,683 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
149,230 |
140,397 |
232,125 |
339,948 |
448,683 |
|
Contract
work-in-progress |
118,960 |
539,336 |
337,327 |
406,158 |
27,525 |
|
Trade
debtors |
500,622 |
287,008 |
333,574 |
50,969 |
271,561 |
|
Other
debtors, deposits & prepayments |
83,458 |
52,476 |
71,638 |
52,401 |
50,601 |
|
Amount
due from holding company |
3,780 |
3,780 |
3,780 |
3,780 |
3,780 |
|
Amount due
from director |
55,985 |
34,198 |
- |
- |
- |
|
Cash
& bank balances |
341,577 |
219,390 |
154,053 |
103,105 |
30,405 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
1,104,382 |
1,136,188 |
900,372 |
616,413 |
383,872 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,253,612 |
1,276,585 |
1,132,497 |
956,361 |
832,555 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
70,900 |
- |
- |
- |
- |
|
Other
creditors & accruals |
1,407,446 |
1,502,615 |
1,447,355 |
1,073,897 |
1,133,919 |
|
Short term
borrowings/Term loans |
2,256,504 |
2,344,480 |
1,775,182 |
1,665,182 |
1,019,238 |
|
Amounts
owing to director |
- |
- |
21,798 |
66,136 |
- |
|
Provision
for taxation |
21,793 |
- |
- |
- |
- |
|
Other
liabilities |
4,950 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
3,761,593 |
3,847,095 |
3,244,335 |
2,805,215 |
2,153,157 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(2,657,211) |
(2,710,907) |
(2,343,963) |
(2,188,802) |
(1,769,285) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET
ASSETS |
(2,507,981) |
(2,570,510) |
(2,111,838) |
(1,848,854) |
(1,320,602) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Retained
profit/(loss) carried forward |
(3,749,981) |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(3,749,981) |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(2,749,981) |
(2,812,510) |
(2,353,838) |
(2,090,854) |
(1,562,602) |
|
Long
term loans |
242,000 |
242,000 |
242,000 |
242,000 |
242,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
242,000 |
242,000 |
242,000 |
242,000 |
242,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
(2,507,981) |
(2,570,510) |
(2,111,838) |
(1,848,854) |
(1,320,602) |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
BIDARA
FLOUR SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
341,577 |
219,390 |
154,053 |
103,105 |
30,405 |
|
Net
Liquid Funds |
341,577 |
219,390 |
154,053 |
103,105 |
30,405 |
|
Net
Liquid Assets |
(2,657,211) |
(2,710,907) |
(2,343,963) |
(2,188,802) |
(1,769,285) |
|
Net
Current Assets/(Liabilities) |
(2,657,211) |
(2,710,907) |
(2,343,963) |
(2,188,802) |
(1,769,285) |
|
Net
Tangible Assets |
(2,507,981) |
(2,570,510) |
(2,111,838) |
(1,848,854) |
(1,320,602) |
|
Net
Monetary Assets |
(2,899,211) |
(2,952,907) |
(2,585,963) |
(2,430,802) |
(2,011,285) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
234,819 |
(234,747) |
(203,224) |
(414,941) |
(1,581,999) |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
249,514 |
(124,727) |
(94,961) |
(306,206) |
(1,474,296) |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
2,498,504 |
2,586,480 |
2,017,182 |
1,907,182 |
1,261,238 |
|
Total
Liabilities |
4,003,593 |
4,089,095 |
3,486,335 |
3,047,215 |
2,395,157 |
|
Total
Assets |
1,253,612 |
1,276,585 |
1,132,497 |
956,361 |
832,555 |
|
Net
Assets |
(2,507,981) |
(2,570,510) |
(2,111,838) |
(1,848,854) |
(1,320,602) |
|
Net
Assets Backing |
(2,749,981) |
(2,812,510) |
(2,353,838) |
(2,090,854) |
(1,562,602) |
|
Shareholders'
Funds |
(2,749,981) |
(2,812,510) |
(2,353,838) |
(2,090,854) |
(1,562,602) |
|
Total
Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total
Reserves |
(3,749,981) |
(3,812,510) |
(3,353,838) |
(3,090,854) |
(2,562,602) |
|
GROWTH
RATIOS (Year on Year) |
|||||
|
Revenue |
78.48 |
(19.37) |
200.86 |
10.33 |
152.68 |
|
Proft/(Loss)
Before Tax |
118.38 |
(74.41) |
50.22 |
67.19 |
(275.22) |
|
Proft/(Loss)
After Tax |
113.63 |
(74.41) |
50.22 |
67.19 |
(275.22) |
|
Total
Assets |
(1.80) |
12.72 |
18.42 |
14.87 |
(41.53) |
|
Total
Liabilities |
(2.09) |
17.29 |
14.41 |
27.22 |
465.10 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.09 |
0.06 |
0.05 |
0.04 |
0.01 |
|
Liquid
Ratio |
0.29 |
0.30 |
0.28 |
0.22 |
0.18 |
|
Current
Ratio |
0.29 |
0.30 |
0.28 |
0.22 |
0.18 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
6 |
51 |
26 |
93 |
7 |
|
Debtors
Ratio |
27 |
27 |
26 |
12 |
69 |
|
Creditors
Ratio |
4 |
- |
- |
- |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
(0.91) |
(0.92) |
(0.86) |
(0.91) |
(0.81) |
|
Liabilities
Ratio |
(1.46) |
(1.45) |
(1.48) |
(1.46) |
(1.53) |
|
Times
Interest Earned Ratio |
1.56 |
(1.05) |
(3.40) |
(3.66) |
(56.37) |
|
Assets
Backing Ratio |
(2.51) |
(2.57) |
(2.11) |
(1.85) |
(1.32) |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
1.23 |
(11.92) |
(5.51) |
(33.31) |
(112.02) |
|
Net
Profit Margin |
0.91 |
(11.92) |
(5.51) |
(33.31) |
(112.02) |
|
Return
On Net Assets |
(9.36) |
9.13 |
9.62 |
22.44 |
119.79 |
|
Return
On Capital Employed |
(9.36) |
9.13 |
9.62 |
22.44 |
119.79 |
|
Return On
Shareholders' Funds/Equity |
(2.27) |
16.31 |
11.17 |
25.26 |
103.04 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.74 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
|
MYR |
1 |
INR 16.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.