|
|
|
MIRA INFORM REPORT
|
Report No. : |
488710 |
|
Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
APM SPRINGS SDN. BHD. |
|
|
|
|
Formerly Known As : |
PERINDUSTRIAN TRAK MIXER SDN.BHD. |
|
|
|
|
Registered Office : |
62-68, Jalan Sultan Azlan Shah, 51200 Kuala Lumpur, Wilayah
Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
18.01.1984 |
|
|
|
|
Com. Reg. No.: |
113255-T |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Subject is engaged in Manufacture of parts and accessories for motor
vehicles. |
|
|
|
|
No. of Employees : |
400 |
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. |
: |
113255-T |
||||
|
GST
NO. |
: |
001990262784 |
||||
|
COMPANY
NAME |
: |
APM
SPRINGS SDN. BHD. |
||||
|
FORMER
NAME |
: |
PERINDUSTRIAN
TRAK MIXER SDN.BHD. (16/08/1989) |
||||
|
INCORPORATION
DATE |
: |
18/01/1984 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
62-68,
JALAN SULTAN AZLAN SHAH, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS
ADDRESS |
: |
LOT
601, PANDAMARAN INDUSTRIAL ESTATE, P.O.BOX 144,, 42008 PORT KLANG, SELANGOR,
MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31618888 |
||||
|
FAX.NO. |
: |
03-31670418 |
||||
|
WEB
SITE |
: |
WWW.APM.COM.MY |
||||
|
CONTACT
PERSON |
: |
KAMARUDDIN
@ ABAS BIN NORDIN ( DIRECTOR ) |
||||
|
INDUSTRY
CODE |
: |
29300 |
||||
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING
OF LEAF SPRINGS FOR VEHICLES |
||||
|
AUTHORISED
CAPITAL |
: |
MYR
50,000,000.00 DIVIDED INTO |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
MYR
37,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR
108,908,000 [2016] |
||||
|
NET
WORTH |
: |
MYR
111,173,000 [2016] |
||||
|
STAFF
STRENGTH |
: |
400
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER
CHECK |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
Regular |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
GOOD |
||||
|
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 leaf springs for vehicles.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the Subject
is APM AUTOMOTIVE HOLDINGS BERHAD, a company incorporated in MALAYSIA.
Former
Address(es)
|
Address |
As
At Date |
|
3RD
FLOOR, TAN CHONG BUILDING, 62-68, JALAN IPOH, 51200, WILAYAH PERSEKUTUAN,
MALAYSIA |
25/11/2014 |
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
01/12/2008 |
MYR
50,000,000.00 |
MYR
37,000,000.00 |
|
09/01/2008 |
MYR
50,000,000.00 |
MYR
37,000,000.00 |
|
21/10/1999 |
MYR
25,000,000.00 |
MYR
18,000,000.00 |
|
01/11/1990 |
MYR
1,000,000.00 |
MYR
1,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
APM
AUTOMOTIVE HOLDINGS BERHAD |
MALAYSIA |
424838D |
37,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
37,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
KAM SIM KWANG |
|
Address |
: |
NO
99 LORONG SERAMPANG, KAWASAN 3, TELUK PULAI, 41100 KLANG, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
4827362 |
|
New
IC No |
: |
550703-05-5187 |
|
Date
of Birth |
: |
03/07/1955 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
01/03/2016 |
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 |
60052P |
APM
SHOCK ABSORBERS SDN. BHD. |
Director |
01/03/2016 |
0.00 |
- |
MYR3,797.00 |
2016 |
- |
26/12/2017 |
|
2 |
113255T |
APM
SPRINGS SDN. BHD. |
Director |
01/03/2016 |
0.00 |
- |
MYR14,651,000.00 |
2016 |
- |
26/12/2017 |
INTEREST IN BUSINESS
|
No |
Local
No |
Business |
Designation |
App
Date |
Shareholding
(%) |
Status |
As
At |
|
1 |
002654352T |
VON
CONSULTING SERVICES |
PARTNERSHIP |
04/05/2017 |
25.00 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
63278X |
APM
COIL SPRINGS SDN. BHD. |
Director |
01/03/2016 |
15/12/2017 |
- |
- |
|
2 |
948429M |
APM
SUSPENSION SYSTEMS SDN. BHD. |
Director |
14/06/2011 |
15/05/2013 |
- |
- |
|
3 |
001522749D |
GENIUS
LAND CHILDCARE DEVELOPMENT CENTRE |
SOLE
PROPRIETORSHIP |
23/11/2004 |
17/01/2011 |
- |
- |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
NG BOON HOOI |
|
Address |
: |
57,
LEBOH SERAYA, TAMAN PETALING INDAH, 41200 KLANG, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
6844183 |
|
New
IC No |
: |
620829-10-6657 |
|
Date
of Birth |
: |
29/08/1962 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
29/08/2014 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
63278X |
APM
COIL SPRINGS SDN. BHD. |
Director |
29/08/2014 |
0.00 |
- |
MYR3,184,000.00 |
2016 |
- |
26/12/2017 |
|
2 |
113255T |
APM
SPRINGS SDN. BHD. |
Director |
29/08/2014 |
0.00 |
- |
MYR14,651,000.00 |
2016 |
- |
26/12/2017 |
|
3 |
948429M |
APM
SUSPENSION SYSTEMS SDN. BHD. |
Director |
29/08/2014 |
0.00 |
- |
MYR(5,524.00) |
2016 |
- |
26/12/2017 |
|
4 |
488939U |
SNW
ENGINEERING AND CONSTRUCTION SDN. BHD. |
Director |
19/07/1999 |
1.00 |
25.00 |
- |
- |
Disolved
by Registrar |
26/12/2017 |
DIRECTOR
3
|
Name
Of Subject |
: |
MR.
LOW SENG CHEE |
|
Address |
: |
NO.
8, JALAN SS19/4E, 47500 SUBANG JAYA, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
5688538 |
|
New
IC No |
: |
590610-10-5399 |
|
Date
of Birth |
: |
10/06/1959 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
29/08/2014 |
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 |
948420T |
APM
ALUMINIUM CASTINGS SDN. BHD. |
Director |
14/06/2011 |
0.00 |
- |
MYR(437,023.00) |
2016 |
- |
26/12/2017 |
|
2 |
92924H |
APM
AUTO SAFETY SYSTEMS SDN. BHD. |
Director |
30/05/2013 |
0.00 |
- |
MYR(197,691.00) |
2016 |
- |
26/12/2017 |
|
3 |
424838D |
APM
AUTOMOTIVE HOLDINGS BERHAD |
Director |
01/07/2010 |
0.00 |
- |
MYR59,371,000.00 |
2016 |
- |
26/12/2017 |
|
4 |
948430A |
APM
AUTOMOTIVE MODULES SDN. BHD. |
Director |
14/06/2011 |
0.00 |
- |
MYR(1,395,446.00) |
2016 |
- |
26/12/2017 |
|
5 |
969624T |
APM
AUTOMOTIVE SYSTEMS SDN. BHD. |
Director |
25/11/2011 |
0.00 |
- |
MYR(395,938.00) |
2016 |
- |
26/12/2017 |
|
6 |
80163W |
APM
CLIMATE CONTROL SDN. BHD. |
Director |
01/04/2014 |
0.00 |
- |
MYR(4,212,000.00) |
2016 |
- |
26/12/2017 |
|
7 |
880258P |
APM
CORPORATE SERVICES SDN. BHD. |
Director |
02/07/2012 |
0.00 |
- |
MYR1,385,114.00 |
2016 |
- |
26/12/2017 |
|
8 |
1214514M |
APM
DELTA SEATING SYSTEMS SDN. BHD. |
Director |
05/01/2017 |
0.00 |
- |
- |
- |
- |
26/12/2017 |
|
9 |
909196X |
APM
ENGINEERING & RESEARCH SDN. BHD. |
Director |
29/08/2014 |
0.00 |
- |
MYR27,174.00 |
2016 |
- |
26/12/2017 |
|
10 |
208524P |
APM
PLASTICS SDN. BHD. |
Director |
01/03/2010 |
0.00 |
- |
MYR3,639,000.00 |
2015 |
- |
26/12/2017 |
|
11 |
381528T |
APM
SEATINGS SDN. BHD. |
Director |
01/03/2010 |
0.00 |
- |
MYR5,932,000.00 |
2016 |
- |
26/12/2017 |
|
12 |
60052P |
APM
SHOCK ABSORBERS SDN. BHD. |
Director |
01/04/2014 |
0.00 |
- |
MYR3,797.00 |
2016 |
- |
26/12/2017 |
|
13 |
113255T |
APM
SPRINGS SDN. BHD. |
Director |
29/08/2014 |
0.00 |
- |
MYR14,651,000.00 |
2016 |
- |
26/12/2017 |
|
14 |
948429M |
APM
SUSPENSION SYSTEMS SDN. BHD. |
Director |
14/05/2013 |
0.00 |
- |
MYR(5,524.00) |
2016 |
- |
26/12/2017 |
|
15 |
1035055W |
APM
TACHI-S SEATING SYSTEMS SDN. BHD. |
Director |
18/02/2013 |
0.00 |
- |
MYR(802,471.00) |
2016 |
- |
26/12/2017 |
|
16 |
1161950X |
APM
TINNOS SDN. BHD. |
Director |
12/10/2015 |
0.00 |
- |
MYR(105,214.00) |
2016 |
- |
26/12/2017 |
|
17 |
143315V |
AUTO
PARTS HOLDINGS SDN. BHD. |
Director |
02/09/2013 |
0.00 |
- |
MYR13,948,117.00 |
2016 |
- |
26/12/2017 |
|
18 |
11558D |
AUTO
PARTS MANUFACTURERS CO. SDN. BHD. |
Director |
01/03/2010 |
0.00 |
- |
MYR(4,197,000.00) |
2016 |
- |
26/12/2017 |
|
19 |
341558M |
CENDANA
GELIGA SDN. BHD. |
Shareholder |
- |
23,740.00 |
9.50 |
MYR62,480.00 |
2017 |
- |
26/12/2017 |
|
20 |
575167T |
FUJI
SEATS (MALAYSIA) SDN. BHD. |
Director |
04/09/2014 |
0.00 |
- |
MYR28,296,000.00 |
2016 |
- |
26/12/2017 |
|
21 |
934634W |
GAGASAN
MILENIUM SDN. BHD. |
Director |
08/03/2012 |
199,404.00 |
9.50 |
MYR4,765,910.00 |
2016 |
- |
26/12/2017 |
|
22 |
442869A |
LKC
HOLDINGS SDN. BHD. |
Director |
28/07/2000 |
0.00 |
- |
MYR4,997,180.00 |
2016 |
- |
26/12/2017 |
|
23 |
1146451U |
OMNIMATICS
SDN. BHD. |
Director |
27/12/2016 |
0.00 |
- |
MYR(32,144.00) |
2016 |
- |
26/12/2017 |
|
24 |
265758M |
TADIKA
SRICOMEL SDN.BHD. |
Director |
29/05/1993 |
1.00 |
50.00 |
MYR630,951.00 |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
210862X |
AUTO
RESEARCH AND DEVELOPMENT SDN. BHD. |
Director |
18/06/2009 |
31/03/2011 |
- |
- |
|
2 |
134131V |
AUTO
TRUCKS & COMPONENTS SDN. BHD. |
Director |
30/10/2007 |
18/08/2010 |
- |
- |
|
3 |
842642A |
LKC
LOGISTICS SOLUTIONS (MSC) SDN. BHD. |
Director |
26/12/2008 |
10/08/2015 |
- |
- |
|
4 |
113151V |
RUSTCARE
SDN.BHD. |
Director |
30/10/2007 |
19/11/2010 |
- |
- |
|
5 |
17895P |
SYARIKAT
LOW KIM CHUAN DAN ANAK ANAK SDN. BHD. |
Director |
24/09/1985 |
10/08/2015 |
- |
- |
|
6 |
18428D |
TAN
CHONG MOTOR ASSEMBLIES SDN. BHD. |
Director |
01/06/2006 |
19/11/2010 |
- |
- |
|
7 |
739760H |
TC
ALUMINIUM CASTINGS SDN. BHD. |
Director |
24/08/2007 |
19/11/2010 |
- |
- |
|
8 |
239242M |
TC
AUTO TOOLING SDN. BHD. |
Director |
30/10/2007 |
19/11/2010 |
- |
- |
|
9 |
740227M |
TC
ENGINES MANUFACTURING SDN. BHD. |
Director |
25/10/2007 |
18/08/2010 |
- |
- |
|
10 |
700243A |
TC
MANUFACTURING COMPANY (SABAH) SDN. BHD. |
Director |
25/10/2007 |
18/08/2010 |
- |
- |
|
11 |
740400K |
TC
MANUFACTURING HOLDINGS SDN. BHD. |
Director |
01/10/2007 |
13/12/2010 |
- |
- |
|
12 |
72982T |
TCM
STAMPING PRODUCTS SDN. BHD. |
Director |
25/10/2007 |
19/11/2010 |
- |
- |
DIRECTOR
4
|
Name
Of Subject |
: |
MR.
KAMARUDDIN @ ABAS BIN NORDIN |
|
Address |
: |
22,
JALAN SILAT 11/3, 40000 SHAH ALAM, SELANGOR, MALAYSIA. |
|
IC
/ PP No |
: |
4474965 |
|
New
IC No |
: |
380621-10-5057 |
|
Nationality |
: |
MALAYSIAN |
|
Date
of Appointment |
: |
01/07/1994 |
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 |
51253A |
AMSTEEL
EQUITY CAPITAL SDN. BHD. |
Director |
22/01/1997 |
0.00 |
- |
MYR(493,871.00) |
2016 |
- |
26/12/2017 |
|
2 |
23848W |
ANTARA
STEEL MILLS SDN. BHD. |
Director |
13/06/2003 |
0.00 |
- |
MYR(128,652,007.00) |
2016 |
- |
26/12/2017 |
|
3 |
76436W |
APM
AUTO ELECTRICS SDN. BHD. |
Director |
10/05/2003 |
0.00 |
- |
MYR11,837,000.00 |
2015 |
- |
26/12/2017 |
|
4 |
152495K |
APM
AUTO PARTS MARKETING SDN. BHD. |
Director |
10/05/2003 |
0.00 |
- |
MYR2,277,000.00 |
2016 |
- |
26/12/2017 |
|
5 |
424838D |
APM
AUTOMOTIVE HOLDINGS BERHAD |
Director |
01/11/1999 |
0.00 |
- |
MYR59,371,000.00 |
2016 |
- |
26/12/2017 |
|
6 |
63278X |
APM
COIL SPRINGS SDN. BHD. |
Director |
01/07/1994 |
0.00 |
- |
MYR3,184,000.00 |
2016 |
- |
26/12/2017 |
|
7 |
90944P |
APM
METAL INDUSTRIES SDN. BHD. |
Director |
01/07/1994 |
0.00 |
- |
MYR27,834.00 |
2016 |
- |
26/12/2017 |
|
8 |
113255T |
APM
SPRINGS SDN. BHD. |
Director |
01/07/1994 |
0.00 |
- |
MYR14,651,000.00 |
2016 |
- |
26/12/2017 |
|
9 |
11558D |
AUTO
PARTS MANUFACTURERS CO. SDN. BHD. |
Director |
01/07/1994 |
0.00 |
- |
MYR(4,197,000.00) |
2016 |
- |
26/12/2017 |
|
10 |
1001850V |
DETIK
LESTARI SDN. BHD. |
Director |
25/05/2012 |
0.00 |
- |
MYR12,497,629.00 |
2017 |
- |
26/12/2017 |
|
11 |
1004447H |
JUMBO
MODE REVENUE SDN. BHD. |
Director |
29/01/2013 |
1.00 |
50.00 |
MYR(1,345.00) |
2016 |
- |
26/12/2017 |
|
12 |
136778W |
LION
COURTS SDN BHD |
Director |
08/09/1997 |
0.00 |
- |
MYR(807,572.00) |
2016 |
- |
26/12/2017 |
|
13 |
415D |
LION
INDUSTRIES CORPORATION BERHAD |
Director |
20/07/1994 |
128,000.00 |
0.02 |
MYR113,465,000.00 |
2017 |
- |
26/12/2017 |
|
14 |
1188545M |
ORIENTAL
SHIELD SDN. BHD. |
Director |
31/05/2016 |
0.00 |
- |
- |
- |
- |
26/12/2017 |
|
15 |
122092V |
SAFETY
PLACE SDN BHD |
Shareholder |
- |
1,110,100.00 |
30.00 |
MYR(127,910.00) |
1993 |
- |
26/12/2017 |
|
16 |
824702W |
SECOM-KOP
SECURITY SYSTEMS SDN. BHD. |
Director |
09/07/2008 |
0.00 |
- |
MYR169.00 |
2016 |
- |
26/12/2017 |
|
17 |
201620V |
SEMANGAT
JELITA SDN. BHD. |
Shareholder |
- |
99,999.00 |
100.00 |
MYR(273,258.00) |
2016 |
- |
26/12/2017 |
FORMER INTEREST
|
No |
Local
No |
Company |
Designation |
App
Date |
Withdrawn
Date |
Shareholding |
Status |
|
1 |
109184P |
1ST
AVENUE MALL SDN. BHD. |
Director |
26/07/1996 |
15/11/2011 |
- |
- |
|
2 |
250531A |
ABLE
MOTOR SDN. BHD. |
Director |
10/05/2003 |
05/01/2015 |
- |
- |
|
3 |
232245T |
ADF
(MALAYSIA) SDN. BHD. |
Director |
02/05/2003 |
28/06/2005 |
- |
- |
|
4 |
80163W |
APM
CLIMATE CONTROL SDN. BHD. |
Director |
01/06/1995 |
15/09/1999 |
- |
- |
|
5 |
143315V |
AUTO
PARTS HOLDINGS SDN. BHD. |
Director |
01/07/1994 |
15/09/1999 |
- |
- |
|
6 |
38040H |
CIMB
HOWDEN INSURANCE BROKERS SDN. BHD. |
Director |
09/01/1998 |
20/07/2001 |
- |
- |
|
7 |
69276K |
IMC
HOLDING (MALAYSIA) SDN. BHD. |
Director |
01/07/1993 |
30/06/1998 |
- |
- |
|
8 |
176224M |
LABUAN
DUTY FREE (M) SDN. BHD. |
Director |
21/11/2002 |
28/06/2005 |
- |
- |
|
9 |
175882M |
LANGKAWI
DUTY FREE (M) SDN. BHD. |
Director |
21/11/2002 |
28/06/2005 |
- |
- |
|
10 |
276969H |
LEBUHRAYA
PANTAI TIMUR 2 SDN. BHD. |
Director |
02/12/1993 |
15/04/1996 |
- |
- |
|
11 |
305458V |
LIMBONGAN
RESOURCES SDN. BHD. |
Director |
28/12/1994 |
20/06/2001 |
- |
- |
|
12 |
82655X |
LION
COMMODITIES AND FUTURES TRADING SDN. BHD. |
Director |
26/03/1998 |
21/09/1999 |
- |
- |
|
13 |
344477T |
LION
RUBBER INDUSTRIES SDN. BHD. |
Director |
15/08/1996 |
21/09/1999 |
- |
- |
|
14 |
37974X |
LION
STEELWORKS SDN BHD |
Director |
08/04/1997 |
21/09/1999 |
- |
- |
|
15 |
262730A |
LUCKY
BEACH DEVELOPMENT SDN BHD |
Director |
11/09/1996 |
08/08/2007 |
- |
- |
|
16 |
262730A |
LUCKY
BEACH DEVELOPMENT SDN BHD |
Shareholder |
- |
- |
150000.00 |
- |
|
17 |
107254D |
MAICA
LAMINATES SDN. BHD. |
Director |
22/07/1993 |
02/10/1998 |
- |
- |
|
18 |
5990P |
MAJUPERAK
DEVELOPMENT BHD. |
Director |
03/07/1995 |
06/08/1996 |
- |
- |
|
19 |
582718X |
MAP
RESOURCES SDN. BHD. |
Director |
27/06/2002 |
28/06/2005 |
- |
- |
|
20 |
160032K |
PLS
PLANTATIONS BERHAD |
Director |
06/05/1994 |
20/06/2001 |
- |
- |
|
21 |
18428D |
TAN
CHONG MOTOR ASSEMBLIES SDN. BHD. |
Director |
26/12/2006 |
23/05/2017 |
- |
- |
|
22 |
12969P |
TAN
CHONG MOTOR HOLDINGS BERHAD |
Director |
23/11/2001 |
25/05/2017 |
- |
- |
|
23 |
72982T |
TCM
STAMPING PRODUCTS SDN. BHD. |
Director |
01/07/1994 |
16/07/2005 |
- |
- |
|
24 |
540218A |
WAWASAN
TKH HOLDINGS BERHAD |
Director |
18/06/2003 |
16/07/2005 |
- |
- |
|
25 |
113939U |
WIDETECH
(MALAYSIA) BERHAD |
Director |
09/06/1995 |
03/01/2000 |
- |
- |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP
No |
Appointed
Date |
Withdrawn
Date |
|
TAN
KIM HOR |
NO.10,
JALAN MERCHU, OFF JALAN BUKIT TUNKU, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
231005-10-5169 |
01/09/1990 |
29/06/2002 |
|
SOH
KIM SENG |
12,LEBOH
SETAKA, TMN.CHI LIUNG, KLANG,SELANGOR, KLANG, SELANGOR, MALAYSIA |
420714-01-5417 |
01/09/1990 |
15/12/1998 |
|
TAN
HENG CHEW |
INDAH
D'SARA CONDO, 21-08-03,JALAN D'SARA ENDAH, D'SARA HIGHT,KL |
460531105141 |
01/09/1990 |
27/09/1999 |
|
NG
SENG YAN |
NO.6
JALAN 19, KAWASAN 17, TAMAN ENG ANN, KLANG, KLANG, SELANGOR, MALAYSIA |
430202-10-5231 |
01/09/1990 |
27/12/2001 |
|
N
SADASIVAN A/L N N PILLAY |
252,LORONG
MAAROF, BUKIT BANDARAYA, BANGSAR, K.LUMPUR, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
400229-08-5261 |
01/06/1995 |
01/06/1999 |
|
KOO
SIAN CHU |
82,JALAN
PUDINA, BANGSAR, KUALA LUMPUR, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
430926-01-5397 |
18/03/2002 |
09/05/2003 |
|
FUN
WOH PENG |
UNIT
3A-05-04, 5TH FLOOR, SAUJANA BUNGA RAYA CONDOMINIUM, SECTION U2, SHAH ALAM,
SELANGOR, MALAYSIA |
590804-08-5701 |
30/06/2003 |
02/09/2014 |
|
MOHD
SHARIF BIN HAJI YUSOF |
5,JALAN
22/38, PETALING JAYA, SELANGOR, PETALING JAYA, SELANGOR, MALAYSIA |
390610-14-5001 |
27/12/2001 |
01/01/2011 |
|
AHMAD
BIN ABDULLAH |
NO.2
LORONG 16/6C, PETALING JAYA, SELANGOR, PETALING JAYA, SELANGOR, MALAYSIA |
350318-10-5065 |
01/09/1990 |
27/09/1999 |
|
AZMAN
BIN BADRILLAH |
NO.
25, JALAN PJU 3/15,, TROPICANA INDAH, KOTA DAMANSARA, PETALING JAYA,
SELANGOR, MALAYSIA |
480302-10-5015 |
18/01/1984 |
24/09/1999 |
Note
: The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
KAMARUDDIN
@ ABAS BIN NORDIN |
|
Position |
: |
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.
KHOO PENG PENG |
|
New
IC No |
: |
740717-10-5154 |
|
|
Address |
: |
NO.88,
JALAN SENTOSA 49, KAWASAN 19, JALAN MERU, 41050 KLANG, SELANGOR, MALAYSIA. |
|
|
2) |
Company
Secretary |
: |
MS.
QUAH KHIAN KHOON |
|
IC
/ PP No |
: |
A1968868 |
|
|
New
IC No |
: |
720229-08-6048 |
|
|
Address |
: |
12
JALAN PUTERI 11/10, BANDAR PUTERI, 47100 PUCHONG, 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.
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 |
|
Import
Countries |
: |
ASIA |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
UNITED
KINGDOM |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
LETTER
OF CREDIT (LC) |
|||
OPERATIONS
|
|
Products
manufactured |
: |
|
||
|
Product
Brand Name |
: |
|
||
|
Award |
: |
1
) QS 9000 Year :2002 |
||
|
Member(s)
/ Affiliate(s) |
: |
SMI
ASSOCIATION OF MALAYSIA MALAYSIA
EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) |
||
|
Ownership
of premises |
: |
LEASED/RENTED |
||
|
Production
Capacity |
: |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
400 |
400 |
400 |
400 |
400 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) manufacturing of leaf springs
for vehicles.
The Subject is under the APM Group of Companies. The Group is engaged mainly in
the the automotive components manufacturing business.
The Subject undertakes manufacturing of leaf springs for the commercial
vehicles such as lorry, trucks and bus.
The Subject's major production, design tools and testing facilities are:-
a) Computerised Parabolic Tapering Machine
b) Computerised Load Testing Machine
c) Automatic Press Qienching Machine
d) 2-Zone Heating Furnace
e) Automatic Eye Rolling Machine
f) Automatic Paint Dipping System
g) Advanced CAE Software (IDEAS)
h) Fatigue Life Tester
The Subject is one of the leading spring manufacturer.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
03-31618888 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
LOT.
601, P.O. BOX 144 42008, PORT KLANG, SELANGOR |
|
Current
Address |
: |
LOT
601, PANDAMARAN INDUSTRIAL ESTATE, P.O.BOX 144,, 42008 PORT KLANG, SELANGOR,
MALAYSIA. |
|
Match |
: |
NO |
|
Latest
Financial Accounts |
: |
YES |
Other
Investigations
On 30th January 2018 we contacted one of the staff from the Subject and he 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 |
: |
Acceptable |
[ |
13.18% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
16.03% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and new
market players.The higher profit could be attributed to the increase in
turnover. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Unfavourable |
[ |
93
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
16
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
12
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 |
[ |
6.90
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
9.50
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 |
: |
Nil |
[ |
0.00
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
Subject's interest cover was nil as it did not pay any interest during the
year. The Subject had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although
the turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs
and profitability. The Subject was in good liquidity position with its total
current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. The Subject did not make any interest payment during the year.
The Subject was dependent on its shareholders' funds to finance its business
needs. The Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : STRONG |
||||||
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 |
5.3 |
5.4 |
|
Domestic
Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private
Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption
( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment
( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public
Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption
( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment
( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
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 |
|
|
29300
: Manufacture of parts and accessories for motor vehicles |
|
|
INDUSTRY
: |
MOTOR
VECHICLE |
|
Malaysia's
automotive sector is likely to remain under pressure in the medium-term as
rising cost of living is prompting many to defer purchases, while car makers are
expected to pass on their higher production cost to consumers as a weaker
ringgit makes imported components more expensive. Despite the soft consumer
sentiment, automotive sales have held up so far, as consumers are bringing
forward their purchase decision in anticipation of higher vehicle prices in
2016. |
|
|
According
to Malaysian Automotive Association, the forecast of the Total Industry
Volume(TIV) for 2016 is 683,400 units, which are passenger vehicles 603,400
and commercial vehicles 80,000. Besides that, the association also forecast
of TIV for year 2017 is 697,500 units and year 2018 is 713,000 units. |
|
|
It
was certainly a bumpy ride for the industry, with Total Industry Volume (TIV)
for the first nine months of 2015 dropping by 1.4% or 6,934 units to 485,388
units, compared to the same period 2014. In the first six months of 2015, the
Total Industry Volume(TIV) of new motor vehicles dropped 3.3 % to 322,184
units from 333,156 units that achieved during the same period in 2014. |
|
|
The
sales of Passenger Vehicles dropped 3.5 % to 286,533 units whilst the
Commercial Vehicles segment recorded a marginal decline of 2 % to 35,651
units. Except for January and March 2015, the Year-on-Year vehicles sales
trend was consistently lower the first half of 2015 compared to same period
in 2014. The lower sales volume registered from April to June 2015 were due
mainly to implementation of GST on 1 April 2015. |
|
|
The
total of 35,651 units of new Commercial Vehicles were registered in the first
six months of 2015 which accounted for 11% share of the Total Industry
Volume. This market share of 11% was same with fist six months of 2014.
Within the Commercial Vehicles category, Pick-ups formed the biggest
sub-segment in the fist half of 2015 with 71% share, followed by Trucks
(21%), Panel Vans (4%), Prime Movers (2%) and Buses(2%). |
|
|
The
four-wheel drive (4WD or 4x4) and sports utility vehicle (SUV) segment was
the year's 2015 savior for the auto sector and helped the industry cruise ahead
into 2016 with a dramatic increase in TIV. According to the Malaysian
Automotive Association (MAA), although the TIV for the first nine months of
2015 had eased, the 4WD/SUV segment showed a dramatic increase of 72.8% or
17,371 units. Aggressive marketing efforts by the respective motor companies
could be a key reason for the segment's dramatic performance against the
backdrop of an overall cautious market scenario. |
|
|
Meanwhile,
exports of transport equipment grew by 5.7% mainly due to slower expansion in
the road vehicles segment. However, growth in the sector was driven by
stronger receipts from aircraft and associated equipment and parts, which
rose by 35.6%. Demand emanated mainly from the US, UK and Singapore. The
motor vehicle segment moderated to 4.8% due to slower sales of parts and
accessories as well as new and used vehicles. |
|
|
The
top market share leader in the passenger car category in October 2015 was
still maintained by Perodua with its 35% dominance, followed by Honda (17%),
Proton (16%), and Toyota (13%). |
|
|
Moreover,
under Budget 2016, Government allocated RM18 million to expand the Small
Retailer Transformation Programme (TUKAR) and Automotive Workshop
Modernisation (ATOM) projects. |
|
|
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) |
|
APM
SPRINGS 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 |
108,908,000 |
94,149,000 |
104,874,000 |
100,591,000 |
98,572,000 |
|
Other
Income |
1,318,000 |
1,641,000 |
684,000 |
445,000 |
280,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
110,226,000 |
95,790,000 |
105,558,000 |
101,036,000 |
98,852,000 |
|
Costs
of Goods Sold |
(84,926,000) |
(77,209,000) |
(88,630,000) |
(84,415,000) |
(85,706,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
25,300,000 |
18,581,000 |
16,928,000 |
16,621,000 |
13,146,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
17,817,000 |
11,227,000 |
9,599,000 |
10,011,000 |
6,260,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
17,817,000 |
11,227,000 |
9,599,000 |
10,011,000 |
6,260,000 |
|
Taxation |
(3,166,000) |
(1,957,000) |
(1,876,000) |
(2,034,000) |
2,346,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
14,651,000 |
9,270,000 |
7,723,000 |
7,977,000 |
8,606,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
71,444,000 |
70,174,000 |
62,451,000 |
54,474,000 |
48,819,000 |
|
Prior
year adjustment |
81,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
71,525,000 |
70,174,000 |
62,451,000 |
54,474,000 |
48,819,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
86,176,000 |
79,444,000 |
70,174,000 |
62,451,000 |
57,425,000 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(12,003,000) |
(8,000,000) |
- |
- |
(2,951,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
74,173,000 |
71,444,000 |
70,174,000 |
62,451,000 |
54,474,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bankers'
acceptance |
- |
- |
- |
49,000 |
98,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
- |
49,000 |
98,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
4,269,000 |
4,232,000 |
4,408,000 |
4,583,000 |
4,522,000 |
|
AMORTIZATION |
31,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
4,300,000 |
4,232,000 |
4,408,000 |
4,583,000 |
4,522,000 |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
APM
SPRINGS SDN. BHD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
35,365,000 |
36,311,000 |
39,096,000 |
41,093,000 |
44,320,000 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Development
properties/expenditure |
49,000 |
80,000 |
- |
- |
- |
|
Deferred
assets |
- |
- |
- |
967,000 |
2,517,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
49,000 |
80,000 |
- |
967,000 |
2,517,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
35,414,000 |
36,391,000 |
39,096,000 |
42,060,000 |
46,837,000 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
25,030,000 |
24,991,000 |
30,658,000 |
30,183,000 |
30,855,000 |
|
Contract
work-in-progress |
2,525,000 |
4,163,000 |
- |
- |
- |
|
Trade
debtors |
4,739,000 |
2,885,000 |
3,890,000 |
5,029,000 |
5,750,000 |
|
Other
debtors, deposits & prepayments |
313,000 |
985,000 |
1,041,000 |
1,305,000 |
866,000 |
|
Short
term deposits |
- |
- |
- |
7,822,000 |
- |
|
Deposits
with financial institutions |
10,654,000 |
6,753,000 |
11,043,000 |
- |
- |
|
Amount
due from related companies |
33,783,000 |
30,564,000 |
26,524,000 |
20,570,000 |
19,264,000 |
|
Cash
& bank balances |
2,261,000 |
635,000 |
115,000 |
47,000 |
356,000 |
|
Others |
11,951,000 |
13,291,000 |
5,343,000 |
434,000 |
1,620,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
91,256,000 |
84,267,000 |
78,614,000 |
65,390,000 |
58,711,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
126,670,000 |
120,658,000 |
117,710,000 |
107,450,000 |
105,548,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
2,789,000 |
2,432,000 |
2,416,000 |
2,017,000 |
2,495,000 |
|
Other
creditors & accruals |
4,265,000 |
2,807,000 |
4,461,000 |
3,248,000 |
4,109,000 |
|
Bill
& acceptances payable |
- |
- |
- |
- |
3,130,000 |
|
Amounts
owing to related companies |
1,841,000 |
2,692,000 |
1,058,000 |
727,000 |
2,504,000 |
|
Provision
for taxation |
483,000 |
218,000 |
62,000 |
- |
- |
|
Other
liabilities |
223,000 |
172,000 |
206,000 |
285,000 |
268,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
9,601,000 |
8,321,000 |
8,203,000 |
6,277,000 |
12,506,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
81,655,000 |
75,946,000 |
70,411,000 |
59,113,000 |
46,205,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
|||||
|
Deferred
taxation |
3,885,000 |
1,792,000 |
437,000 |
- |
- |
|
Retirement
benefits provision |
2,011,000 |
2,101,000 |
1,896,000 |
- |
- |
|
Others |
- |
- |
- |
1,722,000 |
1,568,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
5,896,000 |
3,893,000 |
2,333,000 |
1,722,000 |
1,568,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
111,173,000 |
108,444,000 |
107,174,000 |
99,451,000 |
91,474,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
37,000,000 |
37,000,000 |
37,000,000 |
37,000,000 |
37,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
37,000,000 |
37,000,000 |
37,000,000 |
37,000,000 |
37,000,000 |
|
RESERVES |
|||||
|
Retained
profit/(loss) carried forward |
74,173,000 |
71,444,000 |
70,174,000 |
62,451,000 |
54,474,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
74,173,000 |
71,444,000 |
70,174,000 |
62,451,000 |
54,474,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
111,173,000 |
108,444,000 |
107,174,000 |
99,451,000 |
91,474,000 |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
APM
SPRINGS SDN. BHD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
2,261,000 |
635,000 |
115,000 |
7,869,000 |
356,000 |
|
Net
Liquid Funds |
2,261,000 |
635,000 |
115,000 |
7,869,000 |
(2,774,000) |
|
Net
Liquid Assets |
56,625,000 |
50,955,000 |
39,753,000 |
28,930,000 |
15,350,000 |
|
Net
Current Assets/(Liabilities) |
81,655,000 |
75,946,000 |
70,411,000 |
59,113,000 |
46,205,000 |
|
Net
Tangible Assets |
111,173,000 |
108,444,000 |
107,174,000 |
99,451,000 |
91,474,000 |
|
Net
Monetary Assets |
50,729,000 |
47,062,000 |
37,420,000 |
27,208,000 |
13,782,000 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
11,227,000 |
9,599,000 |
0 |
0 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
22,117,000 |
15,459,000 |
14,007,000 |
14,643,000 |
10,880,000 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
3,130,000 |
|
Total
Liabilities |
15,497,000 |
12,214,000 |
10,536,000 |
7,999,000 |
14,074,000 |
|
Total
Assets |
126,670,000 |
120,658,000 |
117,710,000 |
107,450,000 |
105,548,000 |
|
Net
Assets |
111,173,000 |
108,444,000 |
107,174,000 |
99,451,000 |
91,474,000 |
|
Net
Assets Backing |
111,173,000 |
108,444,000 |
107,174,000 |
99,451,000 |
91,474,000 |
|
Shareholders'
Funds |
111,173,000 |
108,444,000 |
107,174,000 |
99,451,000 |
91,474,000 |
|
Total
Share Capital |
37,000,000 |
37,000,000 |
37,000,000 |
37,000,000 |
37,000,000 |
|
Total
Reserves |
74,173,000 |
71,444,000 |
70,174,000 |
62,451,000 |
54,474,000 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
15.68 |
(10.23) |
4.26 |
2.05 |
(4.58) |
|
Proft/(Loss)
Before Tax |
58.70 |
16.96 |
(4.12) |
59.92 |
(40.04) |
|
Proft/(Loss)
After Tax |
58.05 |
20.03 |
(3.18) |
(7.31) |
(16.37) |
|
Total
Assets |
4.98 |
2.50 |
9.55 |
1.80 |
2.03 |
|
Total
Liabilities |
26.88 |
15.93 |
31.72 |
(43.16) |
(25.99) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.24 |
0.08 |
0.01 |
1.25 |
0.03 |
|
Liquid
Ratio |
6.90 |
7.12 |
5.85 |
5.61 |
2.23 |
|
Current
Ratio |
9.50 |
10.13 |
9.58 |
10.42 |
4.69 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
93 |
113 |
107 |
110 |
114 |
|
Debtors
Ratio |
16 |
11 |
14 |
18 |
21 |
|
Creditors
Ratio |
12 |
11 |
10 |
9 |
11 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0 |
0 |
0 |
0 |
0.03 |
|
Liabilities
Ratio |
0.14 |
0.11 |
0.10 |
0.08 |
0.15 |
|
Times
Interest Earned Ratio |
0 |
0 |
0 |
205.31 |
64.88 |
|
Assets
Backing Ratio |
3.00 |
2.93 |
2.90 |
2.69 |
2.47 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
16.36 |
11.92 |
9.15 |
9.95 |
6.35 |
|
Net
Profit Margin |
13.45 |
9.85 |
7.36 |
7.93 |
8.73 |
|
Return
On Net Assets |
16.03 |
10.35 |
8.96 |
10.12 |
6.95 |
|
Return
On Capital Employed |
15.22 |
9.99 |
8.77 |
9.94 |
6.83 |
|
Return
On Shareholders' Funds/Equity |
13.18 |
8.55 |
7.21 |
8.02 |
9.41 |
|
Dividend
Pay Out Ratio (Times) |
0.82 |
0.86 |
0 |
0 |
0.34 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.75 |
|
|
1 |
INR 89.38 |
|
Euro |
1 |
INR 78.75 |
|
MYR |
1 |
INR 16.33 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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 |
|
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.