|
|
|
MIRA INFORM REPORT
|
Report No. : |
487034 |
|
Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAXSILIN PRODUCTS SDN. BHD. |
|
|
|
|
Registered Office : |
4-2-1, Jalan Setia Prima
(L) U13/L, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
21.10.2009 |
|
|
|
|
Com. Reg. No.: |
876027-V |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in manufacturing of rubber and latex gloves. |
|
|
|
|
No. of Employees : |
Not available |
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 : |
Exist |
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 2013-17. The ringgit 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. |
: |
876027-V |
||||
|
COMPANY
NAME |
: |
MAXSILIN
PRODUCTS SDN. BHD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
21/10/2009 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
4-2-1,
JALAN SETIA PRIMA (L) U13/L, SETIA ALAM, SEKSYEN U13, 40170 SHAH ALAM,
SELANGOR, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
4-2-1,
JALAN SETIA PRIMA (L) U13/L, SETIA ALAM, SEKSYEN U13, 40170 SHAH ALAM,
SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-33440011 |
||||
|
FAX.NO. |
: |
03-33447711 |
||||
|
MOBILE
NO. |
: |
0124388219 |
||||
|
WEB
SITE |
: |
WWW.MAXSILIN.COM |
||||
|
CONTACT
PERSON |
: |
LEE
CHIA LING ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
22192 |
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
OF RUBBER AND LATEX GLOVES |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
500,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
12,132,675 [2016] |
||||
|
NET
WORTH |
: |
MYR
795,342 [2016] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
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) manufacturing of rubber and latex gloves.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
Former Address(es)
|
Address |
As At
Date |
|
183A, 1.5
MILES, JALAN KAPAR, 41400, SELANGOR, MALAYSIA |
31/03/2011 |
Share Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
25/02/2011 |
MYR
500,000.00 |
MYR
500,000.00 |
|
22/10/2009 |
MYR
100,000.00 |
MYR
100,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MS. LEE
CHIA LING + |
24,
JALAN RAJA NALA 26, JALAN BUKIT KAPAR 3, TAMAN INTAN JAYA 6, 42200 KAPAR, SELANGOR,
MALAYSIA. |
801027-07-5492 |
350,000.00 |
70.00 |
|
MR. LIM
KUAN CHIANG + |
24,
JALAN RAJA NALA 26, JALAN BUKIT KAPAR 3, TAMAN INTAN JAYA 6, 42200 KAPAR,
SELANGOR, MALAYSIA. |
730518-01-5827
A2389129 |
150,000.00 |
30.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MR. LIM
KUAN CHIANG |
|
Address |
: |
24,
JALAN RAJA NALA 26, JALAN BUKIT KAPAR 3, TAMAN INTAN JAYA 6, 42200 KAPAR, SELANGOR,
MALAYSIA. |
|
IC / PP
No |
: |
A2389129 |
|
New IC
No |
: |
730518-01-5827 |
|
Date of
Birth |
: |
18/05/1973 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
21/10/2009 |
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 |
1223505M |
DRESSTAL
BERHAD |
Shareholder |
- |
3,996.00 |
0.50 |
- |
- |
- |
26/12/2017 |
|
2 |
1205801H |
INTERINK
INDUSTRIES SDN. BHD. |
Director |
19/10/2016 |
25,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
|
3 |
1242511H |
LEANG
HIN IMPORT & EXPORT SDN. BHD. |
Director |
10/08/2017 |
50,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
|
4 |
1205777P |
MAXSILIN
AGRICULTURE (M) SDN. BHD. |
Director |
19/10/2016 |
50,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
|
5 |
1205773U |
MAXSILIN
HOLDING (M) SDN. BHD. |
Director |
19/10/2016 |
50,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
|
6 |
1029777D |
MAXSILIN
INDUSTRIES SDN. BHD. |
Director |
31/12/2012 |
150,000.00 |
30.00 |
MYR(2,643.00) |
2015 |
- |
26/12/2017 |
|
7 |
876027V |
MAXSILIN
PRODUCTS SDN. BHD. |
Director |
21/10/2009 |
150,000.00 |
30.00 |
MYR205,746.00 |
2016 |
- |
26/12/2017 |
|
8 |
1146950W |
MAXSILIN
TRADING SDN. BHD. |
Director |
03/06/2015 |
10,000.00 |
50.00 |
MYR(12,534.00) |
2016 |
- |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
001541193H |
DUPALLOGLOVE
ENTERPRISE |
SOLE
PROPRIETORSHIP |
24/03/2005 |
100.00 |
Terminated |
26/12/2017 |
|
2 |
SA0105660M |
INTELINK
GLOVE INDUSTRIES |
PARTNERSHIP |
28/11/2008 |
33.00 |
- |
26/12/2017 |
|
3 |
SA0030669T |
XING
KUANG TRADING ENTERPRISE |
SOLE
PROPRIETORSHIP |
04/07/2006 |
100.00 |
Terminated |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
977188X |
MAXSILIN
LATEX (M) SDN. BHD. |
Director |
08/02/2012 |
15/12/2012 |
- |
- |
|
2 |
977188X |
MAXSILIN
LATEX (M) SDN. BHD. |
Shareholder |
- |
- |
50000.00 |
- |
DIRECTOR 2
|
Name Of
Subject |
: |
MS. LEE
CHIA LING |
|
Address |
: |
24,
JALAN RAJA NALA 26, JALAN BUKIT KAPAR 3, TAMAN INTAN JAYA 6, 42200 KAPAR,
SELANGOR, MALAYSIA. |
|
New IC
No |
: |
801027-07-5492 |
|
Date of
Birth |
: |
27/10/1980 |
|
Nationality |
: |
MALAYSIAN |
|
Date of
Appointment |
: |
21/10/2009 |
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 |
1205777P |
MAXSILIN
AGRICULTURE (M) SDN. BHD. |
Director |
19/10/2016 |
50,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
|
2 |
1205773U |
MAXSILIN
HOLDING (M) SDN. BHD. |
Director |
19/10/2016 |
50,000.00 |
50.00 |
- |
- |
- |
26/12/2017 |
|
3 |
1029777D |
MAXSILIN
INDUSTRIES SDN. BHD. |
Director |
31/12/2012 |
350,000.00 |
70.00 |
MYR(2,643.00) |
2015 |
- |
26/12/2017 |
|
4 |
977188X |
MAXSILIN
LATEX (M) SDN. BHD. |
Director |
08/02/2012 |
300,000.00 |
60.00 |
MYR378,753.00 |
2016 |
- |
26/12/2017 |
|
5 |
876027V |
MAXSILIN
PRODUCTS SDN. BHD. |
Director |
21/10/2009 |
350,000.00 |
70.00 |
MYR205,746.00 |
2016 |
- |
26/12/2017 |
|
6 |
1045606V |
MAXXI-PACK
INDUSTRIES SDN. BHD. |
Director |
10/05/2013 |
50,000.00 |
50.00 |
MYR(8,914.00) |
2016 |
- |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As At |
|
1 |
SA0104446T |
XING
LING MARKETING |
SOLE
PROPRIETORSHIP |
17/11/2008 |
100.00 |
- |
26/12/2017 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
LEE
CHIA LING |
|
Position |
: |
MANAGING
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KOO WEE
LONG & CO. |
|
Auditor'
Address |
: |
48A
(1ST FLOOR), SUITE 1, BANGUNAN KWL, LORONG BAYU TINGGI 4C, TAMAN BAYU TINGGI,
41200 KLANG, SELANGOR, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
MS. GOH
HOOI PENG |
|
IC / PP
No |
: |
A3235543 |
|
|
New IC
No |
: |
760325-10-5188 |
|
|
Address |
: |
133,
JALAN SELAR KAWASAN 7, TEPI SUNGAI, 41100 KLANG, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN
BANKING BHD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK - SUBJECT
COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
There is/are PENDING litigation case(s) on the Subject in our database as
below:
- 1 case(s) filed in year 2016
According to the Credit Reporting Agencies Act 2010, consent from the Subject
is required for the disclosure of this credit information. In order to have the
consent from the Subject, we need to serve a notice to the Subject by disclose
the following according to the Act Section 23(1) :
1) Enquirer or Company who request for this credit information.
2) Contact person of Enquirer
3) Purpose of this credit information being used.
4) Contact person of the Subject.
We shall appreciate if you can furnish us the above in order for us to serve a
notice or inform the Subject accordingly. Otherwise, we are prohibited to
disclose this credit information if there is no consent from the Subject
according to the Act Section 24(1)(a).
No winding up petition was found in our affiliate's company 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 |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products
manufactured |
: |
|
|||||
|
Competitor(s) |
: |
HARTALEGA
SDN. BHD. |
|||||
|
Total Number
of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
22 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
rubber and latex gloves.
The Subject is in the field manufacturer and marketing arm of Latex and Rubber
products.
It offers various ranges of latex and rubber product likes latex glove, rubber
glove, dental dam, oral dam, exercise band, condom, latex sheet and etc.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-33440011 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
4-2-1,JALAN
SETIA PRIMA (L) U 13/L, SETIA ALAM, SYKSYEN U13, 40170 SHAH ALAM SELANGOR
DARUL AHSAN |
|
Current
Address |
: |
4-2-1,
JALAN SETIA PRIMA (L) U13/L, SETIA ALAM, SEKSYEN U13, 40170 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 |
: |
Increased |
[ |
2012 -
2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2012 -
2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
25.87% |
] |
|
|
Return on
Net Assets |
: |
Acceptable |
[ |
25.05% |
] |
|
|
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 |
[ |
13 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
70 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 |
: |
Favourable |
[ |
1.04
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.23
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 |
[ |
11.08
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.34
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough profit
to pay for the interest accrued. The Subject was 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 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 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 : STABLE |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major
Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population
( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross
Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.5 |
5.3 |
|
Domestic
Demand ( % ) |
6.4 |
6.2 |
6.3 |
- |
- |
|
Private
Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
10.6 |
10.0 |
|
Consumption
( % ) |
6.5 |
6.1 |
5.1 |
- |
- |
|
Investment
( % ) |
12.0 |
8.1 |
10.0 |
12.0 |
- |
|
Public
Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
- |
- |
|
Consumption
( % ) |
2.1 |
4.3 |
2.0 |
- |
- |
|
Investment
( % ) |
2.6 |
(1.0) |
1.1 |
- |
- |
|
Balance
of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government
Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government
Finance to GDP / Fiscal Deficit ( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation
( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment
Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net
International Reserves ( MYR Billion ) |
417 |
390 |
391 |
- |
- |
|
Average
Risk-Weighted Capital Adequacy Ratio ( % ) |
4.00 |
3.50 |
- |
- |
- |
|
Average
3 Months of Non-performing Loans ( % ) |
2.10 |
2.00 |
1.90 |
- |
- |
|
Average
Base Lending Rate ( % ) |
6.85 |
6.79 |
6.81 |
- |
- |
|
Business
Loans Disbursed( % ) |
18.6 |
2.2 |
- |
- |
- |
|
Foreign
Investment ( MYR Million ) |
43,486.6 |
43,435.0 |
- |
- |
- |
|
Consumer
Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration
of New Companies ( No. ) |
49,203 |
45,658 |
43,255 |
- |
- |
|
Registration
of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
- |
- |
|
Liquidation
of Companies ( No. ) |
11,099 |
7,066 |
- |
- |
- |
|
Liquidation
of Companies ( % ) |
(19.5) |
(36.3) |
- |
- |
- |
|
Registration
of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
- |
- |
|
Registration
of New Business ( % ) |
1.0 |
9.0 |
3.0 |
- |
- |
|
Business
Dissolved ( No. ) |
21,436 |
- |
- |
- |
- |
|
Business
Dissolved ( % ) |
18.0 |
- |
- |
- |
- |
|
Sales
of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular
Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist
Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel
Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit Cards
Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad
Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual
Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
Individual
Bankruptcy ( % ) |
1.7 |
(17.4) |
- |
- |
- |
|
INDUSTRIES
( % of Growth ): |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Agriculture |
2.0 |
1.3 |
(5.1) |
5.6 |
2.4 |
|
Palm
Oil |
6.7 |
7.0 |
8.2 |
- |
- |
|
Rubber |
(10.4) |
(11.0) |
(12.3) |
- |
- |
|
Forestry
& Logging |
(4.2) |
(7.2) |
(4.8) |
- |
- |
|
Fishing |
2.7 |
2.1 |
2.9 |
- |
- |
|
Other
Agriculture |
6.2 |
6.0 |
6.8 |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
303.8 |
343.7 |
420.3 |
- |
- |
|
% of
Industry Non-Performing Loans |
1.4 |
1.5 |
1.8 |
- |
- |
|
Mining |
3.3 |
5.3 |
2.2 |
0.5 |
0.9 |
|
Oil
& Gas |
3.0 |
3.5 |
4.5 |
- |
- |
|
Other
Mining |
46.6 |
47.1 |
42.6 |
- |
- |
|
Industry
Non-performing Loans ( MYR Million ) |
63.5 |
180.1 |
190.0 |
- |
- |
|
% of
Industry Non-performing Loans |
0.3 |
0.8 |
0.8 |
- |
- |
|
Manufacturing
# |
6.1 |
4.9 |
4.4 |
5.5 |
5.3 |
|
Exported-oriented
Industries |
7.1 |
6.5 |
3.3 |
21.1 |
- |
|
Electrical
& Electronics |
11.8 |
9.2 |
7.0 |
- |
- |
|
Rubber
Products |
(1.3) |
5.1 |
3.9 |
- |
- |
|
Wood
Products |
7.8 |
7.0 |
7.0 |
- |
- |
|
Textiles
& Apparel |
10.8 |
7.5 |
6.7 |
- |
- |
|
Domestic-oriented
Industries |
7.7 |
4.7 |
3.0 |
- |
- |
|
Food,
Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
- |
- |
|
Chemical
& Chemical Products |
1.4 |
3.5 |
5.1 |
- |
- |
|
Plastic
Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron
& Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated
Metal Products |
2.8 |
4.6 |
5.1 |
- |
- |
|
Non-metallic
Mineral |
6.9 |
6.8 |
5.5 |
- |
- |
|
Transport
Equipment |
14.4 |
5.2 |
(3.1) |
- |
- |
|
Paper
& Paper Products |
4.7 |
3.2 |
3.9 |
- |
- |
|
Crude
Oil Refineries |
13.0 |
14.3 |
13.7 |
- |
- |
|
Industry
Non-Performing Loans ( MYR Million ) |
5,730.8 |
4,243.7 |
4,214.1 |
- |
- |
|
% of
Industry Non-Performing Loans |
25.6 |
19.0 |
18.5 |
- |
- |
|
Construction |
11.7 |
8.2 |
7.4 |
7.6 |
7.5 |
|
Industry
Non-Performing Loans ( MYR Million ) |
1,666.4 |
1,638.0 |
1,793.9 |
- |
- |
|
% of
Industry Non-Performing Loans |
7.5 |
7.3 |
7.9 |
- |
- |
|
Services |
6.6 |
5.1 |
5.6 |
5.9 |
5.8 |
|
Electric,
Gas & Water |
3.8 |
3.6 |
5.4 |
2.5 |
2.6 |
|
Transport,
Storage & Communication |
7.70 |
7.55 |
6.85 |
7.35 |
7.30 |
|
Wholesale,
Retail, Hotel & Restaurant |
7.70 |
6.65 |
6.65 |
7.05 |
6.65 |
|
Finance,
Insurance & Real Estate |
5.15 |
2.90 |
4.70 |
5.70 |
5.90 |
|
Government
Services |
6.3 |
4.0 |
4.9 |
4.4 |
4.5 |
|
Other
Services |
4.8 |
4.7 |
4.8 |
5.3 |
5.3 |
|
Industry
Non-Performing Loans ( MYR Million ) |
5,373.5 |
6,806.6 |
7,190.6 |
- |
- |
|
% of
Industry Non-Performing Loans |
24.1 |
30.5 |
31.5 |
- |
- |
|
*
Estimate / Preliminary |
|||||
|
**
Forecast |
|||||
|
# Based
On Manufacturing Production Index |
|||||
INDUSTRY ANALYSIS
|
|
MSIC
CODE |
|
|
22192 :
Manufacture of rubber gloves |
|
|
INDUSTRY
: |
MANUFACTURING |
|
The
manufacturing sector is forecast to increase 5.3% in year 2018 (2017: 5.5%).
Output of export-oriented industries is projected to expand on account of
sustained demand for E&E, refined petroleum and woods products. Growth in
the domestic-oriented industries is anticipated to remain resilient supported
by ongoing construction of infrastructure projects as well as strong demand
for consumer products, especially food and transport equipment. |
|
|
Value
added of the manufacturing sector expanded further by 5.8% during the first
half of 2017 (January – June 2016: 4.4%) with expansion across a wide range
of outputs in both the export- and domestic-oriented industries. During the
first eight months, production increased 6.4%, while sales rebounded
significantly by 15.6% to RM500.2 billion (January – August 2016: 4%; -0.7%;
RM432.8 billion). Output of export-oriented industries rose 6.5% (January –
August 2016: 4.3%) led by an upturn in global electronics cycle and further
enhanced by strong demand for resource-based products. Meanwhile,
domestic-oriented industries expanded 6.2% (January – August 2016: 3.4%)
benefiting from vibrant consumption and construction activities. |
|
|
Within
the export-oriented industries, E&E output expanded 9.3% while sales
surged 16.3% to RM169.5 billion (January – August 2016: 6.8%; 9%; RM145.8
billion). Growth emanated mainly from the expansion in output of printed
circuit boards, semiconductor devices and electronic integrated circuits
which strengthened further by 24.4%, 11.9% and 16.9% (January – August 2016:
11.9%; 5.9%; 15%), respectively. This is in line with the trend in global
semiconductor sales which is expected to expand 11.5% in 2017, the highest
level since 2010. On the contrary, the output of computers and peripheral
equipment contracted 7.7% (January – August 2016: 3.1%) as a result of lower
demand for notebooks and personal computers following rising preferences for
smartphones and tablets. Meanwhile, consumer electronics grew at a moderate
pace of 2.6% (January – August 2016: 5.3%) partly due to lower demand for
in-car entertainment, portable media players and digital cameras. |
|
|
Output
of wood and wood products grew 7.3% (January – August 2016: 7.8%). The growth
was primarily supported by output of sawmilling and planning of wood which
expanded 14.7% (January – August 2016: 16.8%) in response to strong demand
from Australia, Japan and the US. Meanwhile, production of wooden and cane
furniture remained steady at 10.9% (January – August 2016: 10.9%), benefiting
from greater adoption of technology and diversification of export markets. |
|
|
Manufacture
of food products rose 11.2%, largely attributed to a significant increase in
refined palm oil at 26.1% (January – August 2016: 6.3%; -3.3%), following
higher production of CPO. Meanwhile, output of other food products grew 7%
supported by production of bread, cakes and other bakery (15.6%) as well as
biscuits and cookies (12%) to meet the rising demand from households (January
– August 2016: 11.1%; 19.2%; 19.1%). |
|
|
For the
year, the manufacturing sector is projected to expand further by 5.5% (2016:
4.4%) mainly attributed to an upturn in global semiconductor sales as well as
higher demand for consumer products and construction materials. |
|
|
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) |
|
MAXSILIN
PRODUCTS 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 |
12,132,675 |
11,665,312 |
7,756,989 |
8,387,744 |
9,558,881 |
|
Other Income |
- |
- |
133,209 |
17,491 |
23,242 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
12,132,675 |
11,665,312 |
7,890,198 |
8,405,235 |
9,582,123 |
|
Costs
of Goods Sold |
(11,078,727) |
(11,110,456) |
(7,156,666) |
(7,740,341) |
(9,048,176) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
1,053,948 |
554,856 |
733,532 |
664,894 |
533,947 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
248,267 |
238,818 |
249,251 |
144,956 |
145,131 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
248,267 |
238,818 |
249,251 |
144,956 |
145,131 |
|
Taxation |
(42,521) |
(55,396) |
(36,977) |
(35,106) |
(29,618) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
205,746 |
183,422 |
212,274 |
109,850 |
115,513 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
589,596 |
406,174 |
193,900 |
84,050 |
(31,463) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
589,596 |
406,174 |
193,900 |
84,050 |
(31,463) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
795,342 |
589,596 |
406,174 |
193,900 |
84,050 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(500,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
295,342 |
589,596 |
406,174 |
193,900 |
84,050 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Hire
purchase |
- |
- |
6,000 |
6,000 |
2,500 |
|
Lease
interest |
24,637 |
7,969 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
24,637 |
7,969 |
6,000 |
6,000 |
2,500 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
91,733 |
83,316 |
67,167 |
63,928 |
41,504 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
91,733 |
83,316 |
67,167 |
63,928 |
41,504 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
MAXSILIN
PRODUCTS SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
568,749 |
462,822 |
394,014 |
413,414 |
325,126 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
568,749 |
462,822 |
394,014 |
413,414 |
325,126 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
420,000 |
360,000 |
394,000 |
127,226 |
254,233 |
|
Trade
debtors |
982,399 |
895,364 |
393,404 |
1,460,276 |
1,046,204 |
|
Other
debtors, deposits & prepayments |
37,290 |
103,918 |
24,550 |
23,439 |
12,743 |
|
Cash
& bank balances |
1,381,341 |
896,136 |
653,445 |
565,771 |
1,103,877 |
|
Others |
11,133 |
- |
17,679 |
2,783 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
2,832,163 |
2,255,418 |
1,483,078 |
2,179,495 |
2,417,057 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
3,400,912 |
2,718,240 |
1,877,092 |
2,592,909 |
2,742,183 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
2,132,452 |
1,331,776 |
481,840 |
979,409 |
1,597,466 |
|
Other
creditors & accruals |
132,014 |
34,987 |
35,550 |
8,212 |
9,540 |
|
Hire
purchase & lease creditors |
- |
- |
27,780 |
27,780 |
27,780 |
|
Amounts
owing to director |
- |
- |
258,384 |
692,384 |
292,384 |
|
Provision
for taxation |
- |
10,297 |
- |
- |
17,951 |
|
Lease
payables |
46,879 |
43,368 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
2,311,345 |
1,420,428 |
803,554 |
1,707,785 |
1,945,121 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
520,818 |
834,990 |
679,524 |
471,710 |
471,936 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
1,089,567 |
1,297,812 |
1,073,538 |
885,124 |
797,062 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
RESERVES |
|||||
|
Retained
profit/(loss) carried forward |
295,342 |
589,596 |
406,174 |
193,900 |
84,050 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
295,342 |
589,596 |
406,174 |
193,900 |
84,050 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
795,342 |
1,089,596 |
906,174 |
693,900 |
584,050 |
|
LONG
TERM LIABILITIES |
|||||
|
Lease
obligations |
268,606 |
191,975 |
- |
- |
- |
|
Hire
purchase creditors |
- |
- |
155,085 |
182,865 |
210,645 |
|
Deferred
taxation |
25,619 |
16,241 |
12,279 |
8,359 |
2,367 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
294,225 |
208,216 |
167,364 |
191,224 |
213,012 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,089,567 |
1,297,812 |
1,073,538 |
885,124 |
797,062 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
MAXSILIN
PRODUCTS SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
1,381,341 |
896,136 |
653,445 |
565,771 |
1,103,877 |
|
Net
Liquid Funds |
1,381,341 |
896,136 |
653,445 |
565,771 |
1,103,877 |
|
Net Liquid
Assets |
100,818 |
474,990 |
285,524 |
344,484 |
217,703 |
|
Net
Current Assets/(Liabilities) |
520,818 |
834,990 |
679,524 |
471,710 |
471,936 |
|
Net
Tangible Assets |
1,089,567 |
1,297,812 |
1,073,538 |
885,124 |
797,062 |
|
Net
Monetary Assets |
(193,407) |
266,774 |
118,160 |
153,260 |
4,691 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
246,787 |
255,251 |
150,956 |
147,631 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
364,637 |
330,103 |
322,418 |
214,884 |
189,135 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
268,606 |
191,975 |
182,865 |
210,645 |
238,425 |
|
Total
Liabilities |
2,605,570 |
1,628,644 |
970,918 |
1,899,009 |
2,158,133 |
|
Total
Assets |
3,400,912 |
2,718,240 |
1,877,092 |
2,592,909 |
2,742,183 |
|
Net
Assets |
1,089,567 |
1,297,812 |
1,073,538 |
885,124 |
797,062 |
|
Net
Assets Backing |
795,342 |
1,089,596 |
906,174 |
693,900 |
584,050 |
|
Shareholders'
Funds |
795,342 |
1,089,596 |
906,174 |
693,900 |
584,050 |
|
Total
Share Capital |
500,000 |
500,000 |
500,000 |
500,000 |
500,000 |
|
Total
Reserves |
295,342 |
589,596 |
406,174 |
193,900 |
84,050 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
4.01 |
50.38 |
(7.52) |
(12.25) |
34.75 |
|
Proft/(Loss)
Before Tax |
3.96 |
(4.19) |
71.95 |
(0.12) |
74.69 |
|
Proft/(Loss)
After Tax |
12.17 |
(13.59) |
93.24 |
(4.90) |
98.38 |
|
Total
Assets |
25.11 |
44.81 |
(27.61) |
(5.44) |
85.66 |
|
Total
Liabilities |
59.98 |
67.74 |
(48.87) |
(12.01) |
114.01 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.60 |
0.63 |
0.81 |
0.33 |
0.57 |
|
Liquid
Ratio |
1.04 |
1.33 |
1.36 |
1.20 |
1.11 |
|
Current
Ratio |
1.23 |
1.59 |
1.85 |
1.28 |
1.24 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
13 |
11 |
19 |
6 |
10 |
|
Debtors
Ratio |
30 |
28 |
19 |
64 |
40 |
|
Creditors
Ratio |
70 |
44 |
25 |
46 |
64 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.34 |
0.18 |
0.20 |
0.30 |
0.41 |
|
Liabilities
Ratio |
3.28 |
1.49 |
1.07 |
2.74 |
3.70 |
|
Times Interest
Earned Ratio |
11.08 |
30.97 |
42.54 |
25.16 |
59.05 |
|
Assets
Backing Ratio |
2.18 |
2.60 |
2.15 |
1.77 |
1.59 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
2.05 |
2.05 |
3.21 |
1.73 |
1.52 |
|
Net
Profit Margin |
1.70 |
1.57 |
2.74 |
1.31 |
1.21 |
|
Return
On Net Assets |
25.05 |
19.02 |
23.78 |
17.05 |
18.52 |
|
Return
On Capital Employed |
25.05 |
19.02 |
23.18 |
16.54 |
17.90 |
|
Return
On Shareholders' Funds/Equity |
25.87 |
16.83 |
23.43 |
15.83 |
19.78 |
|
Dividend
Pay Out Ratio (Times) |
2.43 |
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 63.72 |
|
|
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
|
MYR |
1 |
INR 16.22 |
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.