|
|
|
MIRA INFORM REPORT
|
Report No. : |
489059 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
K.B. TIMBER INDUSTRIES SDN. BHD. |
|
|
|
|
Formerly Known As : |
K.B.BROTHERS INDUSTRIES
SDN.BHD. K.B. BROTHERS INDUSTRIES SDN
BHD |
|
|
|
|
Registered Office : |
Lot 568-8-32,Level 8, Kompleks Mutiara, Batu 3 1/2 Jalan
Ipoh, 51200 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.12.1984 |
|
|
|
|
Com. Reg. No.: |
132075-P |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading in timber. |
|
|
|
|
No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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. |
: |
132075-P |
||||
|
COMPANY NAME |
: |
K.B. TIMBER INDUSTRIES SDN. BHD. |
||||
|
FORMER NAME |
: |
K.B.BROTHERS INDUSTRIES SDN.BHD. (07/10/1989) |
||||
|
INCORPORATION DATE |
: |
10/12/1984 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
LOT 568-8-32,LEVEL 8, KOMPLEKS MUTIARA, BATU 3 1/2 JALAN IPOH,
51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
10-2, (2ND FLOOR), JALAN METRO PERDANA BARAT 2, TAMAN USAHAWAN,
KEPONG, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-62501116 |
||||
|
FAX.NO. |
: |
03-62501433 |
||||
|
CONTACT PERSON |
: |
CHAN CHEE SAN ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46203 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING IN TIMBER |
||||
|
AUTHORISED CAPITAL |
: |
MYR 600,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,110,000.00 DIVIDED INTO |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
N/A |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
Unknown |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) trading
in timber.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Former Address(es)
|
Address |
As At Date |
|
50A, JALAN AMBONG 1, KEPONG BARU, 52100, WILAYAH PERSEKUTUAN,
MALAYSIA |
15/02/2013 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
26/04/2017 |
MYR 600,000.00 |
MYR 1,110,000.00 |
|
02/01/2015 |
MYR 600,000.00 |
MYR 250,000.00 |
|
15/02/2013 |
MYR 600,000.00 |
MYR 50,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. CHAN CHEE SAN + |
29, JALAN BU 2/5, LAMAN OAKLEAF, BUKIT ANTARABANGSA, 68100 BATU
CAVES, SELANGOR, MALAYSIA. |
810314-14-5451 |
555,000.00 |
50.00 |
|
MS. LOKE KWAI KIU + |
503, BLOCK DI SECTION 2, WANGSA MAJU, SETAPAK, 53300 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
560707-10-6040 5009246 |
555,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
1,110,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
LOW KEE YEONG |
MALAYSIA |
510709-10-5871 |
15,000.00 |
N/A |
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
358649M |
MALAYSIA |
SAPPHIRE SCHEMES SDN. BHD. |
Disolved |
30.00 |
25/07/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHAN CHEE SAN |
|
Address |
: |
29, JALAN BU 2/5, LAMAN OAKLEAF, BUKIT ANTARABANGSA, 68100 BATU
CAVES, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
503 BLOCK D1, SECTION 2, WANGSA MAJU, SETAPAK, 53300 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
New IC No |
: |
810314-14-5451 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
31/05/2007 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
132075P |
K.B. TIMBER INDUSTRIES SDN. BHD. |
Director |
31/05/2007 |
555,000.00 |
MYR(81,735.00) |
2012 |
- |
25/07/2017 |
|
2 |
908492D |
OSTIM WORLDWIDE SDN. BHD. |
Director |
18/08/2010 |
1.00 |
MYR641.00 |
2012 |
- |
25/07/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
MS. LOKE KWAI KIU |
|
Address |
: |
503, BLOCK DI SECTION 2, WANGSA MAJU, SETAPAK, 53300 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
5009246 |
|
New IC No |
: |
560707-10-6040 |
|
Date of Birth |
: |
07/07/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
30/09/1989 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
132075P |
K.B. TIMBER INDUSTRIES SDN. BHD. |
Director |
30/09/1989 |
555,000.00 |
MYR(81,735.00) |
2012 |
- |
25/07/2017 |
|
2 |
656340V |
SIM HUAT TRADING SDN. BHD. |
Director |
17/06/2004 |
1.00 |
- |
- |
Disolved by Member Voluntary |
25/07/2017 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
001602563 |
TIM MART TRADING |
PARTNERSHIP |
01/03/2006 |
50.00 |
Expired |
25/07/2017 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
LOW KEE YEONG |
16,JALAN DAYA 26, TAMAN DAYA, KEPONG, KUALA LUMPUR, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
510709-10-5871 |
29/05/1985 |
31/05/2007 |
|
LIEW MENG |
NO. 5, JALAN DEANI SELATAN, SOUTHLAKE DESA PARK CITY, KEPONG,
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
501126-10-5445 |
18/07/1991 |
20/11/2003 |
|
LEONG KIN FOOK |
45,JALAN 25, KEPONG BARU, KUALA LUMPUR, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
591125-08-5923 |
16/01/1992 |
15/04/2002 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHAN CHEE SAN |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
CB LIM & ASSOCIATES |
|
Auditor' Address |
: |
568-8-40A, TINGKAT 8, KOMPLEKS MUTIARA, BATU 3 1/2, JALAN IPOH,
51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. CHAI AKAU |
|
IC / PP No |
: |
4282170 |
|
|
New IC No |
: |
510826-08-6171 |
|
|
Address |
: |
LOT 568-8-32 LEVEL 8 KOMPLEKS MUTIARA, BATU 3 1/2 JALAN IPOH,
51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
|
2) |
Name |
: |
CIMB 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 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.
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
LETTER OF CREDIT (LC) |
|||
|
OPERATIONS |
|
Goods Traded |
: |
|
|||||
|
Competitor(s) |
: |
|
|||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading in timber.
The Subject deals with timber and logs.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
0362501116 |
|
Current Telephone Number |
: |
03-62501116 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
NO. 10-2 (2ND FLOOR) JALAN METRO PERDANA BARAT 2 TAMAN USAHAWAN
KEPONG 52100 KUALA LUMPUR |
|
Current Address |
: |
10-2, (2ND FLOOR), JALAN METRO PERDANA BARAT 2, TAMAN USAHAWAN,
KEPONG, 52100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
|
|
||
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refuse to disclose its number of employees.
FINANCIAL
ANALYSIS
|
|
No latest financial accounts are available at the Registry
Office, thus we are not able to comment on the Subject's financial
performance. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
MALAYSIA
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2013 |
2014 |
2015 |
2016* |
2017** |
|
Population ( Million) |
29.8 |
30.0 |
31.0 |
31.7 |
32.0 |
|
Gross Domestic Products ( % ) |
5.3 |
6.0 |
4.6 |
4.9 |
4.2 |
|
Domestic Demand ( % ) |
5.6 |
6.4 |
6.2 |
6.3 |
- |
|
Private Expenditure ( % ) |
8.6 |
7.9 |
6.9 |
7.4 |
- |
|
Consumption ( % ) |
5.7 |
6.5 |
6.1 |
5.1 |
- |
|
Investment ( % ) |
13.3 |
12.0 |
8.1 |
10.0 |
12.0 |
|
Public Expenditure ( % ) |
4.4 |
2.3 |
4.2 |
3.3 |
- |
|
Consumption ( % ) |
(1.2) |
2.1 |
4.3 |
2.0 |
- |
|
Investment ( % ) |
4.2 |
2.6 |
(1.0) |
1.1 |
- |
|
Balance of Trade ( MYR Million ) |
71,298 |
82,480 |
85,258 |
- |
- |
|
Government Finance ( MYR Million ) |
(39,993) |
(37,291) |
(37,249) |
- |
- |
|
Government Finance to GDP / Fiscal Deficit ( % ) |
(4.0) |
(3.5) |
(3.0) |
- |
- |
|
Inflation ( % Change in Composite CPI) |
2.5 |
3.2 |
4.0 |
- |
- |
|
Unemployment Rate |
3.0 |
2.9 |
3.1 |
3.7 |
3.8 |
|
Net International Reserves ( MYR Billion ) |
422 |
417 |
390 |
391 |
- |
|
Average Risk-Weighted Capital Adequacy Ratio ( % ) |
3.10 |
4.00 |
3.50 |
- |
- |
|
Average 3 Months of Non-performing Loans ( % ) |
2.00 |
2.10 |
2.00 |
1.90 |
- |
|
Average Base Lending Rate ( % ) |
6.53 |
6.85 |
6.79 |
6.81 |
- |
|
Business Loans Disbursed( % ) |
(1.0) |
18.6 |
2.2 |
- |
- |
|
Foreign Investment ( MYR Million ) |
38,238.0 |
43,486.6 |
43,435.0 |
- |
- |
|
Consumer Loans ( % ) |
- |
- |
- |
- |
- |
|
Registration of New Companies ( No. ) |
46,321 |
49,203 |
45,658 |
- |
- |
|
Registration of New Companies ( % ) |
1.9 |
6.1 |
(7.2) |
- |
- |
|
Liquidation of Companies ( No. ) |
13,788 |
11,099 |
7,066 |
- |
- |
|
Liquidation of Companies ( % ) |
(15.4) |
(19.5) |
(36.3) |
- |
- |
|
Registration of New Business ( No. ) |
329,895 |
332,723 |
364,230 |
- |
- |
|
Registration of New Business ( % ) |
2.0 |
1.0 |
9.0 |
- |
- |
|
Business Dissolved ( No. ) |
18,161 |
21,436 |
- |
- |
- |
|
Business Dissolved ( % ) |
(10.9) |
18.0 |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
576.7 |
598.4 |
591.3 |
464.4 |
527.8 |
|
Cellular Phone Subscribers ( Million ) |
43.0 |
44.0 |
44.2 |
44.0 |
- |
|
Tourist Arrival ( Million Persons ) |
25.72 |
27.40 |
25.70 |
30.20 |
30.10 |
|
Hotel Occupancy Rate ( % ) |
62.6 |
63.6 |
58.8 |
61.2 |
- |
|
Credit Cards Spending ( % ) |
6.0 |
5.8 |
6.8 |
6.3 |
- |
|
Bad Cheque Offenders (No.) |
28,876 |
- |
- |
- |
- |
|
Individual Bankruptcy ( No.) |
21,984 |
22,351 |
18,457 |
- |
- |
|
Individual Bankruptcy ( % ) |
12.3 |
1.7 |
(17.4) |
- |
- |
|
INDUSTRIES ( % of Growth ): |
2013 |
2014 |
2015 |
2016* |
2017** |
|
Agriculture |
2.0 |
2.1 |
1.2 |
1.6 |
- |
|
Palm Oil |
2.6 |
6.7 |
7.0 |
8.2 |
- |
|
Rubber |
(10.1) |
(10.4) |
(11.0) |
(12.3) |
- |
|
Forestry & Logging |
(7.8) |
(4.2) |
(7.2) |
(4.8) |
- |
|
Fishing |
1.6 |
2.7 |
2.1 |
2.9 |
- |
|
Other Agriculture |
8.2 |
6.2 |
6.0 |
6.8 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
314.9 |
303.8 |
343.7 |
420.3 |
- |
|
% of Industry Non-Performing Loans |
1.4 |
1.4 |
1.5 |
1.8 |
- |
|
Mining |
1.2 |
3.5 |
4.7 |
3.6 |
- |
|
Oil & Gas |
2.0 |
3.0 |
3.5 |
4.5 |
- |
|
Other Mining |
47.6 |
46.6 |
47.1 |
42.6 |
- |
|
Industry Non-performing Loans ( MYR Million ) |
152.7 |
63.5 |
180.1 |
190.0 |
- |
|
% of Industry Non-performing Loans |
0.7 |
0.3 |
0.8 |
0.8 |
- |
|
Manufacturing # |
3.4 |
6.2 |
4.9 |
7.6 |
- |
|
Exported-oriented Industries |
3.3 |
5.6 |
4.8 |
5.0 |
- |
|
Electrical & Electronics |
6.9 |
13.3 |
7.9 |
10.5 |
- |
|
Rubber Products |
11.7 |
(0.3) |
3.4 |
5.1 |
- |
|
Wood Products |
(2.7) |
5.1 |
7.1 |
9.6 |
- |
|
Textiles & Apparel |
(2.6) |
11.5 |
7.2 |
9.4 |
- |
|
Domestic-oriented Industries |
5.9 |
7.7 |
4.7 |
6.3 |
- |
|
Food, Beverages & Tobacco |
3.6 |
6.1 |
8.9 |
7.5 |
- |
|
Chemical & Chemical Products |
5.6 |
1.4 |
3.5 |
5.1 |
- |
|
Plastic Products |
3.4 |
2.7 |
3.9 |
5.1 |
- |
|
Iron & Steel |
5.0 |
3.4 |
2.8 |
1.6 |
- |
|
Fabricated Metal Products |
9.9 |
2.9 |
3.6 |
5.8 |
- |
|
Non-metallic Mineral |
(2.0) |
5.4 |
7.2 |
5.8 |
- |
|
Transport Equipment |
13.8 |
22.9 |
7.6 |
11.9 |
- |
|
Paper & Paper Products |
1.8 |
4.7 |
3.2 |
3.9 |
- |
|
Crude Oil Refineries |
11.8 |
13.0 |
14.3 |
13.7 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
6,165.3 |
5,730.8 |
4,243.7 |
4,214.1 |
- |
|
% of Industry Non-Performing Loans |
27.2 |
25.6 |
19.0 |
18.5 |
- |
|
Construction |
10.6 |
11.7 |
8.2 |
11.1 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
1,658.2 |
1,666.4 |
1,638.0 |
1,793.9 |
- |
|
% of Industry Non-Performing Loans |
7.3 |
7.5 |
7.3 |
7.9 |
- |
|
Services |
5.9 |
6.6 |
5.1 |
5.8 |
- |
|
Electric, Gas & Water |
4.2 |
3.6 |
3.9 |
3.7 |
- |
|
Transport, Storage & Communication |
7.3 |
7.5 |
7.2 |
7.0 |
- |
|
Wholesale, Retail, Hotel & Restaurant |
6.3 |
8.9 |
6.9 |
8.0 |
- |
|
Finance, Insurance & Real Estate |
3.7 |
4.7 |
4.3 |
6.6 |
- |
|
Government Services |
7.6 |
6.1 |
4.0 |
5.0 |
- |
|
Other Services |
5.6 |
4.8 |
4.7 |
5.8 |
- |
|
Industry Non-Performing Loans ( MYR Million ) |
5,084.6 |
5,373.5 |
6,806.6 |
7,190.6 |
- |
|
% of Industry Non-Performing Loans |
22.5 |
24.1 |
30.5 |
31.5 |
- |
|
* Estimate / Preliminary |
|||||
|
** Forecast |
|||||
|
# Based On Manufacturing Production Index |
|||||
INDUSTRY
ANALYSIS
|
|
MSIC CODE |
|
|
46203 : Wholesale of lumber and timber |
|
|
INDUSTRY : |
TRADING |
|
According to Business Monitor International, the retail market
will begin to bounce back in 2016 after a rough year during 2015. The
short-term outlook is bearish and it will take a number of years to alter
spending habits away from saving and paying down high levels of debt. The
local retail sector is expected to register subdued year-on-year growth in
the first quarter of 2016, mainly due to the implementation of the goods and
services tax (GST) and cautious consumer sentiment. |
|
|
Growth in the first quarter of 2016 will be boosted by Chinese
New Year. However, everything will be subjected to GST. In first quarter of
2015, retail sector grew 4.6% due to rush in purchases from customers that
were looking to avoid GST, which was implemented on April 1 2015. In 2016,
the wholesale and retail trade as well as food, beverage and accommodation
sectors are expected to increase by 6.5% and 6%. The wholesale and retail
trade sector continued to grow by 7.9% during the first half of 2015 supported
by higher consumer spending, particularly prior to the implementation of GST. |
|
|
Moreover, the wholesale segment expanded further to 9.2%
supported by wholesale of petrol, diesel and construction materials as well
as wholesale of agricultural raw materials which include rubber, palm oil and
livestock. The retail segment increased by 7.4% backed by sales at
specialized and non-specialized stores of household, information and
communication equipment, as well as food, beverage and tobacco. |
|
|
In addition, the 1Malaysia Mega Sales carnival, aimed at
promoting the country as a preferred shopping destination and the expansion
of retail outlets such as hypermarkets, large-scale superstores as well as
departmental stores contributed to the segment’s growth. As at end-July 2015,
there were 189 foreign owned hypermarkets, superstores and departmental
stores operating nationwide. Meanwhile, the motor vehicle segment moderated
to 4.8% due to slower sales of parts and accessories as well as new and used
vehicles. In 2015, the wholesale and retail trade sector is expected to
increase by 7.6% supported by steady domestic consumption. The food, beverage
and accommodation sector expanded by 7% during the first half of 2015 on
account of higher spending during the school holidays and festivities as well
as tourism related activities. |
|
|
Under budget 2016, a total of 4,215 brands of medicine and
medical gases in the National Essential Medicines List (NEML) issued by the Ministry
of Health and approved by the Minister of Finance and put up in measured
doses or in the form of packaging for retail sale are subject to GST at zero
rate. These include 321 chemical entities for treatment of over 30 diseases
including heart disease, diabetes, hypertension, cancer, hepatitis and
fertility treatment. |
|
|
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 : Average Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
Financials
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
K.B. TIMBER INDUSTRIES SDN. BHD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
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 |
NO |
|
Financial Type |
SUMMARY |
SUMMARY |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
1,440,642 |
2,055,982 |
2,104,253 |
2,059,962 |
3,007,489 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
1,440,642 |
2,055,982 |
2,104,253 |
2,059,962 |
3,007,489 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(81,735) |
(271,853) |
4,424 |
21,462 |
117,277 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(81,735) |
(271,853) |
4,424 |
21,462 |
117,277 |
|
Taxation |
- |
- |
(7,685) |
(15,279) |
(31,487) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(81,735) |
(271,853) |
(3,261) |
6,183 |
85,790 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
(81,735) |
(271,853) |
(3,261) |
6,183 |
85,790 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
(81,735) |
(271,853) |
(3,261) |
6,183 |
85,790 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
10,292 |
282,145 |
285,406 |
279,223 |
193,433 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
10,292 |
282,145 |
285,406 |
279,223 |
193,433 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(71,443) |
10,292 |
282,145 |
285,406 |
279,223 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(71,443) |
10,292 |
282,145 |
285,406 |
279,223 |
|
============= |
============= |
============= |
============= |
============= |
|
|
BALANCE SHEET |
|
K.B. TIMBER INDUSTRIES SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
41,657 |
- |
- |
220,801 |
115,964 |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
98,958 |
159,880 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
41,657 |
98,958 |
159,880 |
220,801 |
115,964 |
|
TOTAL CURRENT ASSETS |
819,987 |
713,362 |
1,180,246 |
1,657,709 |
1,803,145 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
861,644 |
812,320 |
1,340,126 |
1,878,510 |
1,919,109 |
|
============= |
============= |
============= |
============= |
============= |
|
|
TOTAL CURRENT LIABILITIES |
694,971 |
640,723 |
859,086 |
1,347,701 |
1,516,477 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
125,016 |
72,639 |
321,160 |
310,008 |
286,668 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
166,673 |
171,597 |
481,040 |
530,809 |
402,632 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
50,000 |
50,000 |
50,000 |
50,000 |
30,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
50,000 |
50,000 |
50,000 |
50,000 |
30,000 |
|
Retained profit/(loss) carried forward |
(71,443) |
10,292 |
282,145 |
285,406 |
279,223 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(71,443) |
10,292 |
282,145 |
285,406 |
279,223 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(21,443) |
60,292 |
332,145 |
335,406 |
309,223 |
|
TOTAL LONG TERM LIABILITIES |
188,116 |
111,305 |
148,895 |
195,403 |
93,409 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
166,673 |
171,597 |
481,040 |
530,809 |
402,632 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
K.B. TIMBER INDUSTRIES SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Net Liquid Assets |
125,016 |
72,639 |
321,160 |
310,008 |
286,668 |
|
Net Current Assets/(Liabilities) |
125,016 |
72,639 |
321,160 |
310,008 |
286,668 |
|
Net Tangible Assets |
166,673 |
171,597 |
481,040 |
530,809 |
402,632 |
|
Net Monetary Assets |
(63,100) |
(38,666) |
172,265 |
114,605 |
193,259 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Liabilities |
883,087 |
752,028 |
1,007,981 |
1,543,104 |
1,609,886 |
|
Total Assets |
861,644 |
812,320 |
1,340,126 |
1,878,510 |
1,919,109 |
|
Net Assets |
166,673 |
171,597 |
481,040 |
530,809 |
402,632 |
|
Net Assets Backing |
(21,443) |
60,292 |
332,145 |
335,406 |
309,223 |
|
Shareholders' Funds |
(21,443) |
60,292 |
332,145 |
335,406 |
309,223 |
|
Total Share Capital |
50,000 |
50,000 |
50,000 |
50,000 |
30,000 |
|
Total Reserves |
(71,443) |
10,292 |
282,145 |
285,406 |
279,223 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
(29.93) |
(2.29) |
2.15 |
(31.51) |
18.48 |
|
Proft/(Loss) Before Tax |
69.93 |
(6,244.96) |
(79.39) |
(81.70) |
97.38 |
|
Proft/(Loss) After Tax |
69.93 |
(8,236.49) |
(152.74) |
(92.79) |
54.86 |
|
Total Assets |
6.07 |
(39.38) |
(28.66) |
(2.12) |
32.78 |
|
Total Liabilities |
17.43 |
(25.39) |
(34.68) |
(4.15) |
31.75 |
|
LIQUIDITY (Times) |
|||||
|
Current Ratio |
1.18 |
1.11 |
1.37 |
1.23 |
1.19 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Liabilities Ratio |
(41.18) |
12.47 |
3.03 |
4.60 |
5.21 |
|
Assets Backing Ratio |
3.33 |
3.43 |
9.62 |
10.62 |
13.42 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(5.67) |
(13.22) |
0.21 |
1.04 |
3.90 |
|
Net Profit Margin |
(5.67) |
(13.22) |
(0.15) |
0.30 |
2.85 |
|
Return On Net Assets |
(49.04) |
(158.43) |
0.92 |
4.04 |
29.13 |
|
Return On Capital Employed |
(49.04) |
(158.43) |
0.92 |
4.04 |
29.13 |
|
Return On Shareholders' Funds/Equity |
381.17 |
(450.89) |
(0.98) |
1.84 |
27.74 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.94 |
|
|
1 |
INR 83.01 |
|
Euro |
1 |
INR 75.06 |
|
MYR |
1 |
INR 16.32 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
DNS |
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 |
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.