|
|
|
MIRA INFORM REPORT
|
Report No. : |
487991 |
|
Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PALMAMIDE SDN. BHD. |
|
|
|
|
Registered Office : |
Wisma Taiko, 1 Jalan S.P. Seenivasagam, 30000 Ipoh, Perak |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.09.2016 |
|
|
|
|
Date of Incorporation : |
07.09.1992 |
|
|
|
|
Com. Reg. No.: |
248395-T |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Manufacture of Palm Oil Products, Ethylene-Bis-Stearamid,
Diethanolamide And Monoethanolamide. |
|
|
|
|
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 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. |
: |
248395-T |
||||
|
GST NO. |
: |
001168109568 |
||||
|
COMPANY NAME |
: |
PALMAMIDE SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/09/1992 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
WISMA TAIKO, 1 JALAN S.P. SEENIVASAGAM,
30000 IPOH, PERAK, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 1245, KUNDANG INDUSTRIAL ESTATE, 48020
RAWANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-60343549 |
||||
|
FAX.NO. |
: |
03-60343090 |
||||
|
CONTACT PERSON |
: |
YEOW AH KOW ( MANAGING DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
10402 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF PALM OIL PRODUCTS,
ETHYLENE-BIS-STEARAMID, DIETHANOLAMIDE AND MONOETHANOLAMIDE |
||||
|
AUTHORISED CAPITAL |
: |
MYR 50,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 37,185,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 147,645,000 [2016] |
||||
|
NET WORTH |
: |
MYR 88,035,000 [2016] |
||||
|
STAFF STRENGTH |
: |
80 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
MATURE |
||||
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) manufacture of
palm oil products, ethylene-bis-stearamid, diethanolamide and monoethanolamide.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is PALM-OLEO SDN. BHD., a
company incorporated in MALAYSIA.
The ultimate holding company of the Subject is BATU KAWAN BERHAD, a
company incorporated in MALAYSIA.
The penultimate holding company of the Subject is KUALA LUMPUR KEPONG
BERHAD, a company incorporated in MALAYSIA.
The intermediate holding company of the Subject is KL-KEPONG INDUSTRIAL
HOLDINGS SDN. BHD., a company incorporated in MALAYSIA.
Former Address(es)
|
Address |
As At Date |
|
41, JALAN SULTAN AZLAN SHAH UTARA, 31400,
PERAK, MALAYSIA |
01/12/1994 |
Share Capital
History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
29/09/2010 |
MYR 50,000,000.00 |
MYR 37,185,000.00 |
|
28/02/1996 |
MYR 25,000,000.00 |
MYR 15,000,000.00 |
|
06/03/1995 |
MYR 5,000,000.00 |
MYR 5,000,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PALM-OLEO SDN. BHD. |
LOT 1245, KUNDANG INDUSTRIAL ESTATE, 48020
RAWANG, SELANGOR, MALAYSIA. |
185886V |
37,185,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
37,185,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
KL-KEPONG INDUSTRIAL HOLDINGS SDN. BHD. |
MALAYSIA |
300525M |
32,644,181.00 |
N/A |
|
MITSUI & CO.,LTD |
JAPAN |
XLZ000000172 |
4,231,919.00 |
N/A |
|
MITSUI BUSSAN KAISHA LTD.OR MITSUI AND
COMPANY LTD. |
MALAYSIA |
F992287 |
308,900.00 |
N/A |
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
MR. YEOW AH KOW |
|
Address |
: |
NO 36,JALAN USJ 5/3, UEP SUBANG JAYA,
47610 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
New IC No |
: |
540203-05-5085 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
16/03/1998 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN
COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
766073W |
CAPITAL GLOGALAXY SDN. BHD. |
Director |
10/04/2007 |
0.00 |
- |
MYR(23,563.00) |
2016 |
- |
26/12/2017 |
|
2 |
727439D |
DAVOS LIFE SCIENCE SDN BHD |
Director |
20/02/2012 |
0.00 |
- |
MYR2,817,340.00 |
2016 |
- |
26/12/2017 |
|
3 |
794569U |
DRAW FIELDS SDN. BHD. |
Director |
10/12/2012 |
0.00 |
- |
MYR(4,876.00) |
2016 |
- |
26/12/2017 |
|
4 |
587027T |
KL-KEPONG OLEOMAS SDN. BHD. |
Director |
24/10/2002 |
0.00 |
- |
MYR(7,217,000.00) |
2016 |
- |
26/12/2017 |
|
5 |
629076P |
KLK BIOENERGY SDN BHD |
Director |
10/02/2009 |
0.00 |
- |
MYR597,000.00 |
2016 |
- |
26/12/2017 |
|
6 |
120900P |
KSP MANUFACTURING SDN. BHD. |
Director |
16/03/1998 |
0.00 |
- |
MYR8,614,000.00 |
2016 |
- |
26/12/2017 |
|
7 |
435832T |
PALM-OLEO (KLANG) SDN. BHD. |
Director |
28/09/2007 |
0.00 |
- |
MYR36,723,000.00 |
2016 |
- |
26/12/2017 |
|
8 |
185886V |
PALM-OLEO SDN. BHD. |
Director |
16/03/1998 |
0.00 |
- |
MYR96,585,000.00 |
2016 |
- |
26/12/2017 |
|
9 |
248395T |
PALMAMIDE SDN. BHD. |
Director |
16/03/1998 |
0.00 |
- |
MYR46,468,000.00 |
2016 |
- |
26/12/2017 |
|
10 |
36869T |
SECURITIES SERVICES (HOLDINGS) SDN. BHD. |
Director |
18/11/2002 |
2,444.00 |
12.57 |
MYR62,900.00 |
1996 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
414949W |
B.K.B. FLOORING SDN. BHD. |
Director |
27/06/2000 |
21/03/2001 |
- |
- |
|
2 |
233821W |
B.K.B. HEVEA PRODUCTS SDN. BHD. |
Director |
27/06/2000 |
06/08/2002 |
- |
- |
|
3 |
200081D |
BARRY CALLEBAUT MALAYSIA SDN. BHD. |
Director |
28/02/1997 |
06/08/2002 |
- |
- |
|
4 |
234769T |
ESTEROL SDN. BHD. |
Director |
10/03/1998 |
05/07/2011 |
- |
- |
|
5 |
96464V |
KL-KEPONG RUBBER PRODUCTS SDN. BHD. |
Director |
27/06/2000 |
06/08/2002 |
- |
- |
|
6 |
92083T |
MASIF LATEX PRODUCTS SDN. BHD. |
Director |
27/06/2000 |
06/08/2002 |
- |
- |
|
7 |
338316D |
STOLTHAVEN (WESTPORT) SDN. BHD. |
Director |
09/02/2006 |
03/06/2016 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MR. PUNG KOK HOOI |
|
Address |
: |
NO. 1, JALAN SS 24/19, TAMAN MEGAH, 47301 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
New IC No |
: |
660414-07-5357 |
|
Date of Birth |
: |
14/04/1966 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/12/2008 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN
COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
414949W |
B.K.B. FLOORING SDN. BHD. |
Secretary |
16/07/2008 |
0.00 |
- |
MYR(4,751.00) |
2016 |
- |
26/12/2017 |
|
2 |
233821W |
B.K.B. HEVEA PRODUCTS SDN. BHD. |
Director |
05/05/2016 |
0.00 |
- |
MYR3,876,994.00 |
2016 |
- |
26/12/2017 |
|
3 |
766073W |
CAPITAL GLOGALAXY SDN. BHD. |
Secretary Director |
10/04/2007 31/05/2017 |
0.00 |
- |
MYR(23,563.00) |
2016 |
- |
26/12/2017 |
|
4 |
727439D |
DAVOS LIFE SCIENCE SDN BHD |
Director Secretary |
26/12/2008 20/03/2006 |
0.00 |
- |
MYR2,817,340.00 |
2016 |
- |
26/12/2017 |
|
5 |
794569U |
DRAW FIELDS SDN. BHD. |
Secretary |
10/12/2012 |
0.00 |
- |
MYR(4,876.00) |
2016 |
- |
26/12/2017 |
|
6 |
300525M |
KL-KEPONG INDUSTRIAL HOLDINGS SDN. BHD. |
Secretary |
23/09/2009 |
0.00 |
- |
MYR109,162.00 |
2016 |
- |
26/12/2017 |
|
7 |
587027T |
KL-KEPONG OLEOMAS SDN. BHD. |
Director Secretary |
26/12/2008 30/09/2004 |
0.00 |
- |
MYR(7,217,000.00) |
2016 |
- |
26/12/2017 |
|
8 |
96464V |
KL-KEPONG RUBBER PRODUCTS SDN. BHD. |
Secretary |
16/07/2008 |
0.00 |
- |
MYR10,233,570.00 |
2015 |
- |
26/12/2017 |
|
9 |
629076P |
KLK BIOENERGY SDN BHD |
Secretary Director |
10/02/2009 10/06/2011 |
0.00 |
- |
MYR597,000.00 |
2016 |
- |
26/12/2017 |
|
10 |
120900P |
KSP MANUFACTURING SDN. BHD. |
Director Secretary |
26/12/2008 01/09/2004 |
0.00 |
- |
MYR8,614,000.00 |
2016 |
- |
26/12/2017 |
|
11 |
92083T |
MASIF LATEX PRODUCTS SDN. BHD. |
Secretary |
16/07/2008 |
0.00 |
- |
MYR(17,744.00) |
2016 |
- |
26/12/2017 |
|
12 |
435832T |
PALM-OLEO (KLANG) SDN. BHD. |
Director Secretary |
26/12/2008 28/09/2007 |
0.00 |
- |
MYR36,723,000.00 |
2016 |
- |
26/12/2017 |
|
13 |
185886V |
PALM-OLEO SDN. BHD. |
Director Secretary |
26/12/2008 01/09/2004 |
0.00 |
- |
MYR96,585,000.00 |
2016 |
- |
26/12/2017 |
|
14 |
248395T |
PALMAMIDE SDN. BHD. |
Director Secretary |
26/12/2008 09/10/2004 |
0.00 |
- |
MYR46,468,000.00 |
2016 |
- |
26/12/2017 |
|
15 |
56348K |
RICHINSTOCK SAWMILL SDN. BHD. |
Director Secretary |
10/12/2012 10/12/2012 |
0.00 |
- |
MYR(3,956.00) |
2016 |
- |
26/12/2017 |
|
16 |
338316D |
STOLTHAVEN (WESTPORT) SDN. BHD. |
Secretary |
10/02/2006 |
0.00 |
- |
MYR7,761,890.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
233821W |
B.K.B. HEVEA PRODUCTS SDN. BHD. |
Secretary |
16/07/2008 |
05/05/2016 |
- |
- |
DIRECTOR 3
|
Name Of Subject |
: |
MR. MADHEV A/L BALA SUBRAMANIAM |
|
Address |
: |
PALM-OLEO SDN BHD, LOT 1245 KUNDANG
ESTATE, RAWANG |
|
Other Address(es) |
: |
- NO.42, PJS 9/10, BANDAR SUNWAY, 46150
PETALING JAYA, SELANGOR, MALAYSIA. - NO. 79, LENGKOK SRI SIANTAN 51, TAMAN
SRI ANDALAS, 41200 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
8294889 |
|
New IC No |
: |
600913-71-5115 |
|
Date of Birth |
: |
13/09/1960 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/10/2005 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN
COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
789254X |
BUDI OLEO SDN. BHD. |
Shareholder |
- |
1.00 |
33.33 |
- |
- |
- |
26/12/2017 |
|
2 |
727439D |
DAVOS LIFE SCIENCE SDN BHD |
Director |
20/02/2012 |
0.00 |
- |
MYR2,817,340.00 |
2016 |
- |
26/12/2017 |
|
3 |
587027T |
KL-KEPONG OLEOMAS SDN. BHD. |
Director |
27/03/2006 |
0.00 |
- |
MYR(7,217,000.00) |
2016 |
- |
26/12/2017 |
|
4 |
629076P |
KLK BIOENERGY SDN BHD |
Director |
10/02/2009 |
0.00 |
- |
MYR597,000.00 |
2016 |
- |
26/12/2017 |
|
5 |
120900P |
KSP MANUFACTURING SDN. BHD. |
Director |
01/10/2005 |
0.00 |
- |
MYR8,614,000.00 |
2016 |
- |
26/12/2017 |
|
6 |
323557A |
LIAN JUAN ENGINEERING SDN. BHD. |
Director |
30/03/2007 |
0.00 |
- |
MYR38,993.00 |
2016 |
- |
26/12/2017 |
|
7 |
16055T |
MALAY-SINO CHEMICAL INDUSTRIES SDN.BHD. |
Director |
23/11/2016 |
0.00 |
- |
MYR57,955,981.00 |
2015 |
- |
26/12/2017 |
|
8 |
435832T |
PALM-OLEO (KLANG) SDN. BHD. |
Director |
11/06/2008 |
0.00 |
- |
MYR36,723,000.00 |
2016 |
- |
26/12/2017 |
|
9 |
185886V |
PALM-OLEO SDN. BHD. |
Director |
26/12/2008 |
0.00 |
- |
MYR96,585,000.00 |
2016 |
- |
26/12/2017 |
|
10 |
248395T |
PALMAMIDE SDN. BHD. |
Director |
01/10/2005 |
0.00 |
- |
MYR46,468,000.00 |
2016 |
- |
26/12/2017 |
|
11 |
56348K |
RICHINSTOCK SAWMILL SDN. BHD. |
Director |
10/12/2012 |
0.00 |
- |
MYR(3,956.00) |
2016 |
- |
26/12/2017 |
|
12 |
338316D |
STOLTHAVEN (WESTPORT) SDN. BHD. |
Director |
03/06/2016 |
0.00 |
- |
MYR7,761,890.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
789254X |
BUDI OLEO SDN. BHD. |
Director |
21/09/2007 |
20/10/2016 |
- |
- |
|
2 |
804657X |
PROCESS PARTNERS SDN. BHD. |
Director |
29/01/2008 |
15/01/2015 |
- |
- |
|
3 |
804657X |
PROCESS PARTNERS SDN. BHD. |
Shareholder |
- |
- |
1.00 |
- |
DIRECTOR 4
|
Name Of Subject |
: |
MR. KHOO PING KHEAN |
|
Address |
: |
NO. 32, JALAN USJ HEIGHTS 6/1B, USJ
HEIGHTS, 47620 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
4403571 |
|
New IC No |
: |
530121-08-5943 |
|
Date of Birth |
: |
21/01/1953 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/10/2014 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
see below |
INTEREST IN
COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
120900P |
KSP MANUFACTURING SDN. BHD. |
Director |
01/10/2014 |
0.00 |
- |
MYR8,614,000.00 |
2016 |
- |
26/12/2017 |
|
2 |
435832T |
PALM-OLEO (KLANG) SDN. BHD. |
Director |
01/10/2014 |
0.00 |
- |
MYR36,723,000.00 |
2016 |
- |
26/12/2017 |
|
3 |
185886V |
PALM-OLEO SDN. BHD. |
Director |
01/10/2014 |
0.00 |
- |
MYR96,585,000.00 |
2016 |
- |
26/12/2017 |
|
4 |
248395T |
PALMAMIDE SDN. BHD. |
Director |
01/10/2014 |
0.00 |
- |
MYR46,468,000.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
727439D |
DAVOS LIFE SCIENCE SDN BHD |
Director |
20/02/2012 |
06/08/2014 |
- |
- |
|
2 |
587027T |
KL-KEPONG OLEOMAS SDN. BHD. |
Director |
27/03/2006 |
01/10/2014 |
- |
- |
|
3 |
629076P |
KLK BIOENERGY SDN BHD |
Director |
10/02/2009 |
01/10/2014 |
- |
- |
DIRECTOR 5
|
Name Of Subject |
: |
YOSHIAKI ASSADA |
|
Address |
: |
B-7-3A HAMPSHIRE PLACE, JALAN MAYANG SARI OFF
JALAN AMPANG, 50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
AMBASSADOR ROW HOTEL SUITES,, 1, JALAN
AMPANG HILIR,, 55000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TK0666523 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
13/08/2015 |
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 |
78448V |
MCNS POLYURETHANES MALAYSIA SDN. BHD. |
Director |
17/08/2015 |
0.00 |
- |
MYR2,761,297.00 |
2016 |
- |
26/12/2017 |
|
2 |
185886V |
PALM-OLEO SDN. BHD. |
Director |
13/08/2015 |
0.00 |
- |
MYR96,585,000.00 |
2016 |
- |
26/12/2017 |
|
3 |
248395T |
PALMAMIDE SDN. BHD. |
Director |
13/08/2015 |
0.00 |
- |
MYR46,468,000.00 |
2016 |
- |
26/12/2017 |
DIRECTOR 6
|
Name Of Subject |
: |
SHINJI OUMI |
|
Address |
: |
1-8-10 MIDORIGAOKA, YACHIYO-SHI, CHIBA,
276-0049, JAPAN |
|
IC / PP No |
: |
TR4564851 |
|
Date of Appointment |
: |
13/08/2015 |
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 |
185886V |
PALM-OLEO SDN. BHD. |
Director |
13/08/2015 |
0.00 |
- |
MYR96,585,000.00 |
2016 |
- |
26/12/2017 |
|
2 |
248395T |
PALMAMIDE SDN. BHD. |
Director |
13/08/2015 |
0.00 |
- |
MYR46,468,000.00 |
2016 |
- |
26/12/2017 |
FORMER
DIRECTOR(S)
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
TAKUJI HIRAO |
B-19-1, ALUMASPURI CONDOMINIUM, JALAN
1/70C,OFF JALAN BKT KIARA,KL |
TE7141736 |
10/02/2003 |
28/11/2007 |
|
YUZO SAITO |
1-25-1 MIHARADAI,NERIMA-KU TOKYO, JAPAN
177 |
ML4908547 |
15/04/1995 |
03/12/1997 |
|
YOSHIYUKI MORISHITA |
#A-2-3 TKT 2 BLOCK A, BNR SURIA
CONDOMINIUM, K.LIMPUR, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
MZ0050155 |
10/03/1999 |
10/02/2003 |
|
TSUTOMU KAWANO |
5TH FLOOR, MILLENIUM OFFICE BLOCK, 160
JALAN BUKIT BINTANG, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TG5915661 |
21/11/2008 |
29/05/2009 |
|
SATOSHI UEDA |
6B 4-4, KONDOMINIUM, NO.8, AMPANG HILIR,
NO.6, JALAN AMPANG HILIR, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TH2012397 |
29/05/2009 |
02/12/2011 |
|
TAN HOCK BENG |
43,LINTASAN PRAJURIT 2, TAMAN PERAK,
IPOH,PERAK, IPOH, PERAK, MALAYSIA |
570227-08-5913 |
03/12/1997 |
28/03/2001 |
|
OLIVIERJEAN-MARIE MEURZEC |
UNIT E2-11-3, CHANGKAT BUKIT UTAMA, BUKIT
UTAMA 1, BANDAR UTAMA, PETALING JAYA, SELANGOR, MALAYSIA |
07AY99576 |
17/12/2004 |
26/12/2008 |
|
NG SEE CHEET |
5 JALAN ANGGERIK ONCIDIUM 31/78C, KOTA KEMUNING,
SHAH ALAM, SELANGOR, MALAYSIA |
620913-01-5061 |
10/03/1999 |
01/10/2005 |
|
MASANORI IKEBE |
201, OKAMOTO 3-25-3, SETAGAYA-KU, TOKYO |
TG4089480 |
21/11/2008 |
02/12/2011 |
|
LEE OI HIAN |
55, JALAN KELAB GOLF, IPOH, PERAK,
MALAYSIA |
510207-08-5743 |
03/12/1994 |
17/12/2004 |
|
JUNICHI MIZONOUE |
ZIP CODE:104-0051, TUKUDA 2-4-6-808,
CHUO-KU,TOKYO,JAPAN |
TE8175501 |
02/10/2001 |
20/05/2005 |
|
HO KEE PEE |
10,JALAN USJ 4/9E, SUBANG JAYA, SELANGOR,
MALAYSIA |
531207-03-5511 |
23/10/1992 |
16/03/1998 |
|
HISASHI ONUZUKA |
UNIT A-9-3 TOWER A, HAMPSHIRE RESIDENCES,
PERSIARAN HAMPSHIRE OFF JALAN AMPANG, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
MZ0643164 |
02/12/2011 |
01/10/2014 |
|
HIROTOSHI YOKOTE |
30,JALAN LANGGAK GOLF, KUALA LUMPUR.,
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
MN9360654 |
13/09/1995 |
26/01/1999 |
|
FAN CHEE KUM |
15,LALUAN IPOH PERDANA, TAMAN IPOH
PERDANA, IPOH,PERAK, IPOH, PERAK, MALAYSIA |
520918-08-5765 |
03/12/1997 |
09/10/2004 |
|
GOH ENG CHOOR |
9, LORONG BATU NILAM 20G, BANDAR BUKIT
TINGGI 2, KLANG, SELANGOR, MALAYSIA |
571002-10-5199 |
10/06/2011 |
01/10/2014 |
|
ETSUJI YAMAMURA |
1136-109 SHIMOASAO-KU, KAWASAKI-SHI
KANAGAWA-KEN, 215 JAPAN |
TE4712327 |
03/12/1997 |
02/10/2001 |
|
CHUA HUN CHIAN |
55 JALAN USJ2/5L, SUBANG JAYA, SELANGOR
DARUL EHSAN, SUBANG JAYA, SELANGOR, MALAYSIA |
010901-52-0505 |
28/03/2001 |
06/05/2003 |
|
AKITA DAISABURO |
6-3-39 TSUCHIHASHI, MIYAMAE-KU,
KAWASAKI-SHI,, 216-0005, KANAGAWA |
MR4065834 |
20/05/2005 |
21/11/2008 |
|
AKINORI MINASE |
2-25-15,SHIMORENJAKU, MITAKA-SHI TOKYO,
JAPAN 181 |
ML4906017 |
15/04/1995 |
26/01/1999 |
|
KAZUO IWASAKI |
UNIT B-17-7, HAMPSHIRE PLACE, NO. 1, JALAN
MAJANG SARI, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TZ0773449 |
01/10/2014 |
13/08/2015 |
|
DAIJI KOJIMA |
SHONAN 3-9-17, SUGINAMI-KU, TOKYO, JAPAN |
TH4018883 |
02/12/2011 |
13/08/2015 |
NOTE: The above
information was generated from our database.
MANAGEMENT
|
1) |
Name of Subject |
: |
YEOW AH KOW |
|
Position |
: |
MANAGING DIRECTOR |
AUDITOR
|
Auditor |
: |
KPMG PLT (LLP0010081-LCA) |
|
Auditor' Address |
: |
LEVEL 10, KPMG TOWER,, 8 FIRST AVENUE,
BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
COMPANY
SECRETARIES
|
1) |
Company Secretary |
: |
MS. YAP MIOW KIEN |
|
IC / PP No |
: |
A1171235 |
|
|
New IC No |
: |
681220-05-5334 |
|
|
Address |
: |
12, LINGKARAN MERU VALLEY 1A, LAKEVIEW
VILLA, MERU VALLEY GOLF RESORT, JALAN BUKIT MERU, 30020 IPOH, PERAK,
MALAYSIA. |
|
|
2) |
Company Secretary |
: |
MR. PUNG KOK HOOI |
|
New IC No |
: |
660414-07-5357 |
|
|
Address |
: |
NO. 1, JALAN SS 24/19, TAMAN MEGAH, 47301
PETALING JAYA, SELANGOR, MALAYSIA. |
|
BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
RHB BANK 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.
No legal action was found in our databank.
No winding up petition was found in our databank.
DEFAULTER
CHECK AGAINST SUBJECT
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
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 |
|||
|
Type of Customer |
: |
FOOD MANUFACTURERS,COSMETIC INDUSTRY |
|||
OPERATIONS
|
Products manufactured |
: |
|
|
|
Product Brand Name |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
CHEMICAL INDUSTRIES COUNCIL OF MALAYSIA
(CICM) |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
80 |
76 |
62 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of palm oil
products, ethylene-bis-stearamid, diethanolamide and monoethanolamide.
The Subject is a leading global player in the Oleochemical industry, producing
a wide range of vegetable oil-based fatty acids, esters, amides, soap chips and
derivatives.
The Subject use high technology of machine in order to produce high quality of
products.
CURRENT
INVESTIGATION
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-60343549 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 1245 KUNDANG IDNUSTRIAL ESTATE 48020
RAWANG SELANGOR DARUL EHSAN |
|
Current Address |
: |
LOT 1245, KUNDANG INDUSTRIAL ESTATE, 48020
RAWANG, SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the
Subject and she provided some information.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
52.78% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
69.56% |
] |
|
|
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. Generally the Subject was
profitable. The favourable return on shareholders' funds and return on net
assets indicate that the Subject's management was efficient in utilising the
assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
84 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
The Subject could be incurring higher
holding cost. As its capital was tied up in stocks, it could face liquidity
problems. 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 |
: |
Favourable |
[ |
1.11 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.84 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 |
[ |
658.42 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.18 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 : |
||||||
|
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 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 |
|
|
10402 : Manufacture of refined palm oil |
|
|
INDUSTRY : |
PALM OIL |
|
According to the Malaysian Palm Oil
Council (MPOC), Malaysia currently accounts for 39% of world palm oil production
and 44% of world exports in year 2014. Malaysia is also one of the biggest
producers and exporters of oil palm and palm oil products. In the last 5
years until year 2014, Malaysia earned between RM50 billion and RM70 billion
a year from palm oil exports. |
|
|
Besides, the ongoing implementation of
Entry Point Projects (EPPs) under the National Key Economic Area (NKEA) on
palm oil to enhance productivity of upstream and downstream activities will
further boost the palm oil sector. Thus, palm oil sector is expected to grow
6.7% in 2014 (2013: 2.6%). Moreover, the total oil palm planted areas
increased 2.8% to 5.3 million hectares as at end-June 2014 (end-June 2013:
5.2 million hectares) following the opening of 30,544 hectares of cultivated
areas mainly in Sabah and Sarawak. Other than that, the production of palm
oil is expected to growth by 1.6% (19.52 million tonnes) in year 2014,
compared to 19.22 million tonnes in year 2013. |
|
|
According to Kenanga Research, the
estimated average crude palm oil (CPO) price for 2014 and 2015 is between
RM2,100 and RM2,500 per tonne due to lower inventory estimate by end-2015.
The estimated prices also lifted by factors such as biofuel demand and
petroleum price level. But, the average price of crude palm oil (CPO)
strengthened to RM2,542 per tonne during the first eight months of 2014
(January - August 2013: Rm2,309 per tonne). However, with production rising
in the second quarter coupled with high inventory level (end-August 2014: 2.1
million tonnes), the price of CPO moderated to RM2,162 per tonne as at
end-August 2014, and hitting a five-year low of RM1,914 per tonne in Sept
2014 as stockpiles surged to a more than 1 year high above 2 million tonnes.
The moderation in CPO prices was also due to a surge in global supplies of
edible oil, particularly the bumper harvest of soybean in the US. |
|
|
Over the total exports of major products
in year 2013, palm oil accounts 6.4% of share in the total exports. During the
first seven months of 2014, export receipts of palm oil rebounded by 4.9% to
RM25.8 billion (January - July 2013: -21.9%, RM 24.6 billion) due to higher
export prices averaging RM 2,703 per tonne (January - July 2013: Rm 2,456 per
tonne). As a measure to reduce the high inventory due to strong output, the
Government has exempted export tax on CPO until December 2014. The
Government's move to extend the export duty exemption for crude palm oil
(CPO) has received positive reaction from industry players. The chairman of
Malaysian Palm Oil Board (MPOB) said the move provided a stable effect on the
CPO market prices. |
|
|
In Budget 2015, there is an allocation of
RM41 million for smallholders to plant and replant oil palm. The incentives
for commodities announced in Budget 2015 will help alleviate the problems
faced by the industry, especially the poor prices for rubber and palm oil. |
|
|
According to the Minister of Plantation
Industries and Commodities, the Malaysian government will increase the amount
of palm oil based bio-diesel in the national diesel supply mix from November
2014, in a move that will also help to increase consumption of crude palm oil
(CPO) and reduce stockpile levels of the commodity. The implementation of the
B7 blend will also increase the use palm oil which prices have softened due
to oversupply in the market. According to the Malaysian Palm Oil Council
(MPOC), CPO prices are expected to improve to between RM2,100 and RM2,500 in
year 2015, lifted by factors such as biofuel demand from the B7 programme.
CIMB Research estimates that the rollout could raise the country's palm oil
demand by 263,000-390,000 tonnes per annum, or 1-2% of the total palm oil
production in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : Mature |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated in 1992, the Subject is a
Private Limited company, focusing on manufacture of palm oil products,
ethylene-bis-stearamid, diethanolamide and monoethanolamide. The Subject has
been in business for over two decades. It has built up a strong clientele
base and good reputation will enable the Subject to further enhance its
business in the near term. The Subject is expected to enjoy a stable
market shares. The Subject is a large entity with strong capital position of
MYR 37,185,000. We are confident with the Subject's business and its future
growth prospect. Having strong support from its holding company has enabled
the Subject to remain competitive despite the challenging business
environment. |
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
PALMAMIDE SDN. BHD. |
|
Financial Year End |
2016-09-30 |
2015-09-30 |
2014-09-30 |
2013-09-30 |
2012-09-30 |
|
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 |
147,645,000 |
178,243,000 |
163,503,000 |
137,888,000 |
109,192,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
147,645,000 |
178,243,000 |
163,503,000 |
137,888,000 |
109,192,000 |
|
Costs of Goods Sold |
(117,284,000) |
(143,194,000) |
(143,660,000) |
(115,129,000) |
(99,936,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
30,361,000 |
35,049,000 |
19,843,000 |
22,759,000 |
9,256,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
61,140,000 |
28,279,000 |
16,139,000 |
18,636,000 |
6,496,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
61,140,000 |
28,279,000 |
16,139,000 |
18,636,000 |
6,496,000 |
|
Taxation |
(14,672,000) |
(6,881,000) |
(3,967,000) |
(4,477,000) |
(1,756,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
46,468,000 |
21,398,000 |
12,172,000 |
14,159,000 |
4,740,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
22,974,000 |
12,732,000 |
15,434,000 |
8,340,000 |
9,549,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
22,974,000 |
12,732,000 |
15,434,000 |
8,340,000 |
9,549,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
69,442,000 |
34,130,000 |
27,606,000 |
22,499,000 |
14,289,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(18,592,000) |
(11,156,000) |
(14,874,000) |
(7,065,000) |
(5,949,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
50,850,000 |
22,974,000 |
12,732,000 |
15,434,000 |
8,340,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
93,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
93,000 |
- |
- |
- |
- |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,196,000 |
1,985,000 |
2,152,000 |
2,133,000 |
2,199,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
2,196,000 |
1,985,000 |
2,152,000 |
2,133,000 |
2,199,000 |
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
PALMAMIDE SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
54,598,000 |
25,850,000 |
12,683,000 |
13,678,000 |
15,677,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
54,598,000 |
25,850,000 |
12,683,000 |
13,678,000 |
15,677,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
34,108,000 |
14,305,000 |
13,575,000 |
14,249,000 |
20,523,000 |
|
Trade debtors |
12,091,000 |
17,020,000 |
7,588,000 |
8,139,000 |
9,755,000 |
|
Other debtors, deposits & prepayments |
30,025,000 |
1,607,000 |
797,000 |
715,000 |
308,000 |
|
Short term deposits |
5,200,000 |
4,000,000 |
3,600,000 |
5,600,000 |
9,512,000 |
|
Short term loans & advances |
- |
6,002,000 |
17,020,000 |
- |
- |
|
Amount due from holding company |
45,000 |
45,000 |
36,000 |
49,000 |
44,000 |
|
Amount due from related companies |
2,910,000 |
4,688,000 |
7,260,000 |
5,592,000 |
33,000 |
|
Cash & bank balances |
1,775,000 |
1,187,000 |
450,000 |
226,000 |
433,000 |
|
Others |
- |
13,000 |
591,000 |
15,189,000 |
265,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
86,154,000 |
48,867,000 |
50,917,000 |
49,759,000 |
40,873,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
140,752,000 |
74,717,000 |
63,600,000 |
63,437,000 |
56,550,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
4,698,000 |
4,743,000 |
3,887,000 |
2,533,000 |
1,655,000 |
|
Other creditors & accruals |
7,320,000 |
3,633,000 |
3,924,000 |
2,747,000 |
2,434,000 |
|
Short term borrowings/Term loans |
15,635,000 |
- |
- |
- |
- |
|
Amounts owing to holding company |
11,644,000 |
1,467,000 |
3,011,000 |
1,509,000 |
4,169,000 |
|
Amounts owing to related companies |
1,029,000 |
419,000 |
728,000 |
275,000 |
207,000 |
|
Provision for taxation |
3,498,000 |
958,000 |
- |
1,637,000 |
160,000 |
|
Other liabilities |
2,898,000 |
2,353,000 |
533,000 |
217,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
46,722,000 |
13,573,000 |
12,083,000 |
8,918,000 |
8,625,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
39,432,000 |
35,294,000 |
38,834,000 |
40,841,000 |
32,248,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
5,995,000 |
985,000 |
1,600,000 |
1,900,000 |
2,400,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
5,995,000 |
985,000 |
1,600,000 |
1,900,000 |
2,400,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
88,035,000 |
60,159,000 |
49,917,000 |
52,619,000 |
45,525,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
37,185,000 |
37,185,000 |
37,185,000 |
37,185,000 |
37,185,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
37,185,000 |
37,185,000 |
37,185,000 |
37,185,000 |
37,185,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
50,850,000 |
22,974,000 |
12,732,000 |
15,434,000 |
8,340,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
50,850,000 |
22,974,000 |
12,732,000 |
15,434,000 |
8,340,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
88,035,000 |
60,159,000 |
49,917,000 |
52,619,000 |
45,525,000 |
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
PALMAMIDE SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
6,975,000 |
5,187,000 |
4,050,000 |
5,826,000 |
9,945,000 |
|
Net Liquid Funds |
6,975,000 |
5,187,000 |
4,050,000 |
5,826,000 |
9,945,000 |
|
Net Liquid Assets |
5,324,000 |
20,989,000 |
25,259,000 |
26,592,000 |
11,725,000 |
|
Net Current Assets/(Liabilities) |
39,432,000 |
35,294,000 |
38,834,000 |
40,841,000 |
32,248,000 |
|
Net Tangible Assets |
88,035,000 |
60,159,000 |
49,917,000 |
52,619,000 |
45,525,000 |
|
Net Monetary Assets |
(671,000) |
20,004,000 |
23,659,000 |
24,692,000 |
9,325,000 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
61,233,000 |
28,279,000 |
16,139,000 |
18,636,000 |
6,496,000 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
63,429,000 |
30,264,000 |
18,291,000 |
20,769,000 |
8,695,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
15,635,000 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
52,717,000 |
14,558,000 |
13,683,000 |
10,818,000 |
11,025,000 |
|
Total Assets |
140,752,000 |
74,717,000 |
63,600,000 |
63,437,000 |
56,550,000 |
|
Net Assets |
88,035,000 |
60,159,000 |
49,917,000 |
52,619,000 |
45,525,000 |
|
Net Assets Backing |
88,035,000 |
60,159,000 |
49,917,000 |
52,619,000 |
45,525,000 |
|
Shareholders' Funds |
88,035,000 |
60,159,000 |
49,917,000 |
52,619,000 |
45,525,000 |
|
Total Share Capital |
37,185,000 |
37,185,000 |
37,185,000 |
37,185,000 |
37,185,000 |
|
Total Reserves |
50,850,000 |
22,974,000 |
12,732,000 |
15,434,000 |
8,340,000 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(17.17) |
9.02 |
18.58 |
26.28 |
(10.04) |
|
Proft/(Loss) Before Tax |
116.20 |
75.22 |
(13.40) |
186.88 |
(52.69) |
|
Proft/(Loss) After Tax |
117.16 |
75.80 |
(14.03) |
198.71 |
(54.24) |
|
Total Assets |
88.38 |
17.48 |
0.26 |
12.18 |
(1.07) |
|
Total Liabilities |
262.12 |
6.39 |
26.48 |
(1.88) |
5.70 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.15 |
0.38 |
0.34 |
0.65 |
1.15 |
|
Liquid Ratio |
1.11 |
2.55 |
3.09 |
3.98 |
2.36 |
|
Current Ratio |
1.84 |
3.60 |
4.21 |
5.58 |
4.74 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
84 |
29 |
30 |
38 |
69 |
|
Debtors Ratio |
30 |
35 |
17 |
22 |
33 |
|
Creditors Ratio |
15 |
12 |
10 |
8 |
6 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.18 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.60 |
0.24 |
0.27 |
0.21 |
0.24 |
|
Times Interest Earned Ratio |
658.42 |
0 |
0 |
0 |
0 |
|
Assets Backing Ratio |
2.37 |
1.62 |
1.34 |
1.42 |
1.22 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
41.41 |
15.87 |
9.87 |
13.52 |
5.95 |
|
Net Profit Margin |
31.47 |
12.00 |
7.44 |
10.27 |
4.34 |
|
Return On Net Assets |
69.56 |
47.01 |
32.33 |
35.42 |
14.27 |
|
Return On Capital Employed |
65.12 |
46.25 |
31.33 |
34.18 |
13.55 |
|
Return On Shareholders' Funds/Equity |
52.78 |
35.57 |
24.38 |
26.91 |
10.41 |
|
Dividend Pay Out Ratio (Times) |
0.40 |
0.52 |
1.22 |
0.50 |
1.26 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
|
MYR |
1 |
INR 16.41 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
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.