|
|
|
MIRA INFORM REPORT
|
Report No. : |
516661 |
|
Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
BT BIOTEX SDN.
BHD. |
|
|
|
|
Formerly Known As : |
BT BIOTEX RESOURCES SDN BHD (10/03/2006) |
|
|
|
|
Registered Office : |
No 63C, Jalan Ss25/2, Taman Bukit Emas,
47301 Petaling Jaya, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
10.06.2005 |
|
|
|
|
Com. Reg. No.: |
694179-V |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of specialty chemicals. |
|
|
|
|
No. of Employees : |
30 [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+ |
Low Risk |
Business dealings permissible with low
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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. |
: |
694179-V |
||||
|
GST NO. |
: |
000796135424 |
||||
|
COMPANY NAME |
: |
BT BIOTEX SDN. BHD. |
||||
|
FORMER NAME |
: |
BT BIOTEX RESOURCES SDN BHD (10/03/2006) |
||||
|
INCORPORATION DATE |
: |
10/06/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
NO 63C, JALAN SS25/2, TAMAN BUKIT EMAS,
47301 PETALING JAYA, SELANGOR, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 71, JALAN P10/21, SELAMAN INDUSTRIAL
PARK, 43650 BANDAR BARU BANGI, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-89223633 |
||||
|
FAX.NO. |
: |
03-89202100 |
||||
|
WEB SITE |
: |
WWW.BIOTEX-MALAYSIA.COM |
||||
|
CONTACT PERSON |
: |
SANJAY SURENDRA TIBREWALA ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
46691 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF SPECIALTY CHEMICALS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000.00
DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 105.00
DIVIDED INTO |
||||
|
SALES |
: |
MYR 18,781,682 [2017] |
||||
|
NET WORTH |
: |
MYR 2,713,966 [2017] |
||||
|
STAFF STRENGTH |
: |
30 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The subject is principally engaged in the (as
a / as an) trading of specialty chemicals.
The subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate and ultimate holding company of
the Subject is FINEOTEX MALAYSIA LIMITED, a company incorporated in MALAYSIA.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
03/01/2017 |
MYR 100,000.00 |
MYR 105.00 |
|
10/06/2005 |
MYR 100,000.00 |
MYR 100.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FINEOTEX MALAYSIA LIMITED |
LOT A0202, LEVEL 1 PODIUM LEVEL, FINANCIAL
PARK, JALAN MERDEKA, 87000 LABUAN, WILAYAH PERSEKUTUAN, MALAYSIA. |
XLZ00217792 |
71.00 |
67.62 |
|
SONAI KEDHA SANKAR + |
NO. 116-04-07, PINES CONDOMINIUM, LOT 116,
JALAN SULTAN ABDUL SAMAD, BRICKFIELDS MALAYSIA, 50470 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
P6257565 |
29.00 |
27.62 |
|
STEFANO PRANDO |
VIA PANORAMICA 13/B, 21040 CASTRONO (VA),
ITALY, 87000 LABUAN, WILAYAH PERSEKUTUAN, MALAYSIA. |
YB1337964 |
5.00 |
4.76 |
|
--------------- |
------ |
|||
|
105.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
CEDRIC JEAN VENIAT |
MALAYSIA |
13FV03660 |
20.00 |
N/A |
|
CEIC JEAN VENIAT |
MALAYSIA |
10AD20126 |
20.00 |
N/A |
|
ESTATE OF CEDRIC JEAN VENIAT (DECEASED) |
MALAYSIA |
00021870 |
20.00 |
N/A |
|
LIAU CHENG KIAT |
MALAYSIA |
611021-10-5243 |
20.00 |
N/A |
|
LIEW SEOW CHING |
MALAYSIA |
780612-07-5530 |
20.00 |
23/10/2017 |
|
NG YIN LING |
MALAYSIA |
670212-08-5660 |
5.00 |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
SANJAY SURENDRA TIBREWALA |
|
Address |
: |
NO 116-04-07, PINES CONDOMINIUM, LOT 116,, JLN
SULTAN ABD SAMAD,BRICKFIELDS, 50470 KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
IC / PP No |
: |
Z2476587 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
01/08/2011 |
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 |
694179V |
BT BIOTEX SDN. BHD. |
Director |
01/08/2011 |
0.00 |
- |
MYR1,513,887.00 |
2017 |
- |
26/03/2018 |
|
2 |
685644V |
BT CHEMICALS SDN. BHD. |
Director |
01/08/2011 |
0.00 |
- |
MYR3,793,564.00 |
2017 |
- |
26/03/2018 |
|
3 |
892582U |
ROVATEX SDN. BHD. |
Director |
01/08/2011 |
0.00 |
- |
MYR21,617.00 |
2017 |
- |
26/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. RAMAN A/L PERUMAL |
|
Address |
: |
NO. 10, JALAN BUKIT MIKA 1, TAMAN BUKIT
MIKA, 70200 SEREMBAN, NEGERI SEMBILAN, MALAYSIA. |
|
New IC No |
: |
770608-04-5153 |
|
Date of Birth |
: |
08/06/1977 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/08/2016 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
694179V |
BT BIOTEX SDN. BHD. |
Director |
01/08/2016 |
0.00 |
- |
MYR1,513,887.00 |
2017 |
- |
26/03/2018 |
|
2 |
685644V |
BT CHEMICALS SDN. BHD. |
Director |
01/08/2016 |
0.00 |
- |
MYR3,793,564.00 |
2017 |
- |
26/03/2018 |
|
3 |
892582U |
ROVATEX SDN. BHD. |
Director |
01/08/2016 |
0.00 |
- |
MYR21,617.00 |
2017 |
- |
26/03/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
SONAI KEDHA SANKAR |
|
Address |
: |
NO. 116-04-07, PINES CONDOMINIUM, LOT 116,
JALAN SULTAN ABDUL SAMAD, BRICKFIELDS MALAYSIA, 50470 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
P6257565 |
|
Date of Birth |
: |
15/04/1977 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
28/06/2012 |
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 |
694179V |
BT BIOTEX SDN. BHD. |
Director |
28/06/2012 |
29.00 |
27.62 |
MYR1,513,887.00 |
2017 |
- |
26/03/2018 |
|
2 |
685644V |
BT CHEMICALS SDN. BHD. |
Director |
28/06/2012 |
147,400.00 |
28.08 |
MYR3,793,564.00 |
2017 |
- |
26/03/2018 |
|
3 |
892582U |
ROVATEX SDN. BHD. |
Director |
28/06/2012 |
265.00 |
25.24 |
MYR21,617.00 |
2017 |
- |
26/03/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
NG YIN LING |
NO 9, JALAN SUNGAI RINCING 32/63F, BUKIT
RIMAU, SHAH ALAM, SELANGOR, MALAYSIA |
670212-08-5660 |
10/06/2005 |
22/03/2010 |
|
LIAU CHENG KIAT |
NO. 9, JALAN SUNGAI RINCING 32/63F, BUKIT
RIMAU, SHAH ALAM, SELANGOR, MALAYSIA |
611021-10-5243 |
10/06/2005 |
01/08/2011 |
|
CEDRIC JEAN VENIAT |
NO 5 ( LOT 494 ), LORONG PELANGI PAGI C, COUNTRY
HEIGHTS, KAJANG, SELANGOR, MALAYSIA |
10AD20126 |
22/03/2010 |
28/06/2012 |
|
ABDULLAH BIN MOHD SALLEH |
NO. 102, JALAN SERI SELAYANG 1, TAMAN SERI
SELAYANG, BATU CAVES, SELANGOR, MALAYSIA |
530309-01-5437 |
08/10/2012 |
31/07/2014 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SANJAY SURENDRA TIBREWALA |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
S F CHANG & CO |
|
Auditor' Address |
: |
UNIT 9A, WISMA TCT, 516/1, 3RD MILE JALAN
IPOH, KUALA LUMPUR, 51200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
CHONG SOOK FURN |
|
IC / PP No |
: |
621225085300 |
|
|
Address |
: |
65,JALAN SS 22/22, DAMANSARA JAYA,
SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
PUBLIC BANK BHD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
CIVIL 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.
CRIMINAL RECORDS 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 criminal record was found in our databank.
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
PLAINTIFF
|
* 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 plaintiff record was found in our databank.
CRIMINAL RECORDS CHECK - SUBJECT COMPANY AS A
PLAINTIFF
|
* 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 plaintiff record 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 listed by our customers and debtors that
have been placed or assigned to us for collection.
No defaulter record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
EUROPE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
SPECIALTY CHEMICALS |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
30 |
30 |
25 |
25 |
25 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of specialty
chemicals.
The Subject supplies various chemical products such as peptones, peptone
derivatives, other protein substances and their derivatives.
The chemicals are use for agricultural, textile, building, marine, plastic and
others.
The chemicals are in both liquid and powder forms.
The Subject sells its products according to its customers' orders.
The Group produces wold-class specialty chemicals for pre-treatment to
finishing out of which the highlights are several efficient, environmental
friendly surfactants, DMDHEU and formaldehyde free resins, silicone polymers
and emulsions, fluorocarbons emulsions (C6 and C8 chemistry), blocked
iso-cyanates.
RECENT DEVELOPMENT
|
We have checked with the Malaysian National News Agency's (BERNAMA) database,
but no recent development was noted during the time of inspection.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the
Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-89223633 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 71, JALAN P10/21 SELAMAN INDUSTRIAL PARK,
43650 BANDAR BARU BANGI SELANGOR |
|
Current Address |
: |
LOT 71, JALAN P10/21, SELAMAN INDUSTRIAL
PARK, 43650 BANDAR BARU BANGI, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
55.78% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
74.25% |
] |
|
|
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 |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
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 |
[ |
7.13 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
7.13 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 |
6.73 |
- |
|
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 |
(12.7) |
11.8 |
- |
|
Rubber |
(10.4) |
(11.0) |
(6.3) |
10.8 |
- |
|
Forestry & Logging |
(4.2) |
(7.2) |
(3.0) |
(15.0) |
- |
|
Fishing |
2.7 |
2.1 |
2.2 |
0.2 |
- |
|
Other Agriculture |
6.2 |
6.0 |
5.1 |
2.4 |
- |
|
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 |
4.3 |
6.5 |
- |
|
Electrical & Electronics |
11.8 |
9.2 |
6.8 |
9.3 |
- |
|
Rubber Products |
(1.3) |
5.1 |
5.0 |
6.9 |
- |
|
Wood Products |
7.8 |
7.0 |
7.8 |
7.3 |
- |
|
Textiles & Apparel |
10.8 |
7.5 |
7.5 |
7.4 |
- |
|
Domestic-oriented Industries |
7.7 |
4.7 |
3.4 |
6.2 |
- |
|
Food, Beverages & Tobacco |
6.1 |
8.9 |
7.5 |
11.0 |
- |
|
Chemical & Chemical Products |
1.4 |
3.5 |
4.5 |
3.5 |
- |
|
Plastic Products |
2.7 |
3.9 |
5.1 |
- |
- |
|
Iron & Steel |
2.8 |
1.6 |
2.2 |
- |
- |
|
Fabricated Metal Products |
2.8 |
4.6 |
5.6 |
4.6 |
- |
|
Non-metallic Mineral |
6.9 |
6.8 |
6.3 |
5.4 |
- |
|
Transport Equipment |
14.4 |
5.2 |
(3.1) |
4.7 |
- |
|
Paper & Paper Products |
4.7 |
3.2 |
5.4 |
5.8 |
- |
|
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 |
|
|
46691 : Wholesale of industrial chemicals |
|
|
INDUSTRY : |
TRADING |
|
Malaysia's retail sales will likely grow
3.7% in 2017, slower than previously estimated 3.9%, as consumer sentiment
remains weak amid rising cost of living in Southeast Asia's third largest
economy. |
|
|
The cut in forecast was the second of such
revision by Retail Group Malaysia, a retail consulting firm, from an initial
target of 5% retail sales expansion pace in 2017. The estimate follows a
survey of members of Malaysia Retailers Association on their second quarter
performance and outlook for the year. Retail sales grew 1.7% in 2016. |
|
|
According to Retail Group Malaysia (RGM),
Malaysian retailers have seen the sales expanded 4.9 % from April to June
2017, reversing a dismal performance in first three months 2017. For the
first six months 2016, the retail sale growth rate was 2.5 %. However, the
businesses in the next three months are not optimistic, estimating an average
growth rate of 2.9 %. The department stores cum supermarket operators are
expecting to return to red with a contraction of 2.5 %. Similarly, the
department store operators expect their businesses to dip with a negative 1.5
%. |
|
|
The rise of purchasing power will continue
to fall behind the increase in prices of retail goods. More retail goods are expected
to raise prices because of higher fuel prices in recent months. |
|
|
The wholesale trade sub-sector index
increased 5.9 % to 165.9 points year-on-year (y-o-y) driven mainly by other
specialised wholesale (7.5 %), wholesale of agricultural raw materials and
livestock (7.3 %) and wholesale of machinery, equipment and supplies (6.2 %). |
|
|
Over 60% of Gross Domestic Product (GDP) is
contributed by domestic consumption. Therefore the wholesale and retail
sector plays a crucial role in driving Malaysia's growth over the next decade
despite the ongoing global economic slowdown. By 2020, Malaysia's wholesale
and retail sector is expected to boost the country's total Gross National
Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
BT BIOTEX SDN. BHD. |
|
Financial Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
|
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 |
18,781,682 |
8,653,031 |
8,779,461 |
5,550,755 |
12,255,991 |
|
Other Income |
- |
210,177 |
163,187 |
87,452 |
2,117 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
18,781,682 |
8,863,208 |
8,942,648 |
5,638,207 |
12,258,108 |
|
Costs of Goods Sold |
(16,783,649) |
(8,370,815) |
(8,128,359) |
(5,028,268) |
(11,514,445) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,998,033 |
492,393 |
814,289 |
609,939 |
743,663 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,014,993 |
157,152 |
601,180 |
367,393 |
397,436 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,014,993 |
157,152 |
601,180 |
367,393 |
397,436 |
|
Taxation |
(501,106) |
(55,605) |
(149,281) |
(93,183) |
(105,906) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,513,887 |
101,547 |
451,899 |
274,210 |
291,530 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,147,157 |
1,645,610 |
1,343,711 |
1,219,501 |
1,077,971 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,147,157 |
1,645,610 |
1,343,711 |
1,219,501 |
1,077,971 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,661,044 |
1,747,157 |
1,795,610 |
1,493,711 |
1,369,501 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(600,000) |
(150,000) |
(150,000) |
(150,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,661,044 |
1,147,157 |
1,645,610 |
1,343,711 |
1,219,501 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
BT BIOTEX SDN. BHD. |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
CURRENT ASSETS |
|||||
|
Trade debtors |
2,743,776 |
2,080,415 |
2,283,329 |
1,757,469 |
1,474,779 |
|
Other debtors, deposits & prepayments |
11,847 |
6,446 |
200 |
200 |
200 |
|
Amount due from related companies |
82,795 |
- |
- |
- |
- |
|
Cash & bank balances |
318,539 |
62,768 |
271,360 |
234,436 |
248,132 |
|
Others |
- |
19,514 |
- |
- |
7,094 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
3,156,957 |
2,169,143 |
2,554,889 |
1,992,105 |
1,730,205 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
3,156,957 |
2,169,143 |
2,554,889 |
1,992,105 |
1,730,205 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Other creditors & accruals |
384,719 |
401,124 |
200,211 |
154,047 |
- |
|
Hire purchase & lease creditors |
- |
- |
- |
- |
164,483 |
|
Amounts owing to holding company |
15,000 |
- |
33,750 |
56,250 |
90,000 |
|
Amounts owing to related companies |
42,180 |
358,262 |
535,214 |
383,647 |
196,121 |
|
Provision for taxation |
1,092 |
- |
117,504 |
16,850 |
- |
|
Dividends payable/proposed |
- |
262,500 |
- |
- |
- |
|
Other liabilities |
- |
- |
22,500 |
37,500 |
60,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
442,991 |
1,021,886 |
909,179 |
648,294 |
510,604 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
52,922 |
100 |
100 |
100 |
100 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
52,922 |
100 |
100 |
100 |
100 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
2,661,044 |
1,147,157 |
1,645,610 |
1,343,711 |
1,219,501 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,661,044 |
1,147,157 |
1,645,610 |
1,343,711 |
1,219,501 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
BT BIOTEX SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
318,539 |
62,768 |
271,360 |
234,436 |
248,132 |
|
Net Liquid Funds |
318,539 |
62,768 |
271,360 |
234,436 |
248,132 |
|
Net Liquid Assets |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
Net Current Assets/(Liabilities) |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
Net Tangible Assets |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
Net Monetary Assets |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
2,014,993 |
157,152 |
601,180 |
367,393 |
397,436 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
2,014,993 |
157,152 |
601,180 |
367,393 |
397,436 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
164,483 |
|
Total Liabilities |
442,991 |
1,021,886 |
909,179 |
648,294 |
510,604 |
|
Total Assets |
3,156,957 |
2,169,143 |
2,554,889 |
1,992,105 |
1,730,205 |
|
Net Assets |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
Net Assets Backing |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
Shareholders' Funds |
2,713,966 |
1,147,257 |
1,645,710 |
1,343,811 |
1,219,601 |
|
Total Share Capital |
52,922 |
100 |
100 |
100 |
100 |
|
Total Reserves |
2,661,044 |
1,147,157 |
1,645,610 |
1,343,711 |
1,219,501 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
117.05 |
(1.44) |
58.17 |
(54.71) |
8.95 |
|
Proft/(Loss) Before Tax |
1,182.19 |
(73.86) |
63.63 |
(7.56) |
0.02 |
|
Proft/(Loss) After Tax |
1,390.82 |
(77.53) |
64.80 |
(5.94) |
(4.93) |
|
Total Assets |
45.54 |
(15.10) |
28.25 |
15.14 |
(34.76) |
|
Total Liabilities |
(56.65) |
12.40 |
40.24 |
26.97 |
(67.56) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.72 |
0.06 |
0.30 |
0.36 |
0.49 |
|
Liquid Ratio |
7.13 |
2.12 |
2.81 |
3.07 |
3.39 |
|
Current Ratio |
7.13 |
2.12 |
2.81 |
3.07 |
3.39 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
53 |
88 |
95 |
116 |
44 |
|
Creditors Ratio |
0 |
0 |
0 |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0.13 |
|
Liabilities Ratio |
0.16 |
0.89 |
0.55 |
0.48 |
0.42 |
|
Times Interest Earned Ratio |
0 |
0 |
0 |
0 |
0 |
|
Assets Backing Ratio |
51.28 |
11,472.57 |
16,457.10 |
13,438.11 |
12,196.01 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
10.73 |
1.82 |
6.85 |
6.62 |
3.24 |
|
Net Profit Margin |
8.06 |
1.17 |
5.15 |
4.94 |
2.38 |
|
Return On Net Assets |
74.25 |
13.70 |
36.53 |
27.34 |
32.59 |
|
Return On Capital Employed |
74.25 |
13.70 |
36.53 |
27.34 |
28.71 |
|
Return On Shareholders' Funds/Equity |
55.78 |
8.85 |
27.46 |
20.41 |
23.90 |
|
Dividend Pay Out Ratio (Times) |
0 |
5.91 |
0.33 |
0.55 |
0.51 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.77 |
|
|
1 |
INR 89.95 |
|
Euro |
1 |
INR 78.85 |
|
MYR |
1 |
INR 16.96 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
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.