|
|
|
MIRA INFORM REPORT
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Report No. : |
517051 |
|
Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
RUBBERFLEX SDN.BHD. |
|
|
|
|
Formerly Known As : |
·
HEVEAFLEX SDN. BHD. (18/10/1986) ·
HEVEA INDUSTRIES SDN BHD (12/08/1985) |
|
|
|
|
Registered Office : |
21st Floor Ubn Tower, P.O. Box 48, 10 Jalan P. Ramlee, K. Lumpur,
50470 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
26.01.1985 |
|
|
|
|
Com. Reg. No.: |
134208-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the manufacturing of rubber
thread. |
|
|
|
|
No. of Employees : |
800 [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.
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
134208-U |
||||
|
GST NO. |
: |
001460666368 |
||||
|
COMPANY NAME |
: |
RUBBERFLEX SDN.BHD. |
||||
|
FORMER NAME |
: |
HEVEAFLEX SDN. BHD. (18/10/1986) |
||||
|
INCORPORATION DATE |
: |
26/01/1985 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
21ST FLOOR UBN TOWER, P.O.BOX 48, 10 JALAN P.RAMLEE,K.LUMPUR, 50470
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
21ST FLOOR, UBN TOWER, P.O. BOX 48, 10, JALAN P.RAMLEE, 50250 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-20720011 |
||||
|
FAX.NO. |
: |
03-20785103 |
||||
|
EMAIL |
: |
INFO@RUBBERFLEX.COM.MY |
||||
|
WEB SITE |
: |
WWW.RUBBERFLEX.COM.MY |
||||
|
CONTACT PERSON |
: |
KRISTOPA ANAK WATT ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
221 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF RUBBER THREAD |
||||
|
AUTHORISED CAPITAL |
: |
MYR 30,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 22,100,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 582,678,708 [2016] |
||||
|
NET WORTH |
: |
MYR 263,796,696 [2016] |
||||
|
M1000 OVERALL RANKING |
: |
528[2011] |
||||
|
M1000 INDUSTRY RANKING |
: |
12[2011] |
||||
|
STAFF STRENGTH |
: |
800 [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 rubber thread.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication, the Subject's ranking are
as follows: |
||||
|
YEAR |
2011 |
2005 |
2004 |
|
|
OVERALL RANKING |
528 |
822 |
907 |
|
|
INDUSTRY RANKING |
12 |
17 |
14 |
|
The ultimate holding company of the Subject is RUBBER INTERNATIONAL
A.G., a company incorporated in LIECHTENSTEIN.
Former Address(es)
|
Address |
As At Date |
|
22 (MEZZANINE), JALAN TUN SAMBANTHAN 3, 50470, WILAYAH PERSEKUTUAN,
MALAYSIA |
09/12/1987 |
|
20-1, JALAN TUN SAMBANTHAN 3, 50470, WILAYAH PERSEKUTUAN, MALAYSIA |
29/12/1987 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
30/06/2016 |
MYR 30,000,000.00 |
MYR 22,100,000.00 |
|
31/07/1989 |
MYR 30,000,000.00 |
MYR 17,000,000.00 |
|
15/02/1989 |
MYR 30,000,000.00 |
MYR 15,000,000.00 |
|
15/11/1988 |
MYR 30,000,000.00 |
MYR 11,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
RUBBER INTERNATIONAL A.G. |
ALTENBACH 8, SL 9490 VADUZ, FURSTENTUM LIECHTENSTIEN LIECHTENSTEIN |
XLZ000002394 |
11,050,000.00 |
50.00 |
|
ALDO CERINA + |
12 JALAN U-THANT, 55000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
YA5466941 |
10,166,000.00 |
46.00 |
|
MALAYSIA NOMINEES (TEMPATAN) SENDIRIAN BERHAD |
13TH FLOOR, MENARA OCBC, 18 JALAN TUN PERAK, 50050 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
6193K |
884,000.00 |
4.00 |
|
--------------- |
------ |
|||
|
22,100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
ALLIANCE MERCHANT NOMINEES (TEMPATAN) SDN. BHD. |
MALAYSIA |
34127D |
N/A |
24/01/2017 |
|
TOPONE ESTABLISHMENT |
N/A |
XLZ00210884 |
N/A |
16/08/2013 |
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
909715T |
MALAYSIA |
RUBBERFLEX REENERGY SDN. BHD. |
- |
100.00 |
28/05/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
EDGAR B VENTURA |
|
Address |
: |
390 LORONG BENTONG MAKMUR 14, 28700 BENTONG, PAHANG, MALAYSIA. |
|
IC / PP No |
: |
EC6909506 |
|
Date of Appointment |
: |
08/04/2003 |
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 |
909715T |
RUBBERFLEX REENERGY SDN. BHD. |
Director |
16/08/2010 |
0.00 |
- |
MYR583,953.00 |
2016 |
- |
28/05/2018 |
|
2 |
134208U |
RUBBERFLEX SDN.BHD. |
Director |
08/04/2003 |
0.00 |
- |
MYR49,594,960.00 |
2016 |
- |
28/05/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. KRISTOPA ANAK WATT |
|
Address |
: |
82, KAMPUNG SELAMPIT, 94500 LUNDU, SARAWAK, MALAYSIA. |
|
New IC No |
: |
680115-13-5557 |
|
Date of Birth |
: |
15/01/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
09/06/2006 |
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 |
909715T |
RUBBERFLEX REENERGY SDN. BHD. |
Director |
02/09/2010 |
0.00 |
- |
MYR583,953.00 |
2016 |
- |
28/05/2018 |
|
2 |
134208U |
RUBBERFLEX SDN.BHD. |
Director |
09/06/2006 |
0.00 |
- |
MYR49,594,960.00 |
2016 |
- |
28/05/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
ALDO CERINA |
|
Address |
: |
12 JALAN U-THANT, 55000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
YA5466941 |
|
Date of Birth |
: |
08/09/1946 |
|
Date of Appointment |
: |
03/04/1989 |
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 |
909715T |
RUBBERFLEX REENERGY SDN. BHD. |
Director |
16/08/2010 |
0.00 |
- |
MYR583,953.00 |
2016 |
- |
28/05/2018 |
|
2 |
134208U |
RUBBERFLEX SDN.BHD. |
Director |
03/04/1989 |
10,166,000.00 |
46.00 |
MYR49,594,960.00 |
2016 |
- |
28/05/2018 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
YEOH ENG HUA |
91, GOPENG ROAD, IPOH,PERAK |
450105-08-5863 |
22/11/1994 |
29/08/1997 |
|
TAY AN TIAN |
19, LORONG SETIABISTARI EMPAT, BUKIT DAMANSARA, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
461017-10-5469 |
21/07/1995 |
17/06/1996 |
|
SIVALOGANATHAN A/L YOGANATHAN |
11A, JALAN 6/13, PETALING JAYA, SELANGOR, MALAYSIA |
3909538 |
21/07/1995 |
03/03/1998 |
|
PIETRO CERINA |
TRECATE VIA CERANO, NO.8 ITALY |
024182D |
22/11/1994 |
23/10/1998 |
|
SIVADAS A/L P.E.S.KUMAR |
78 JALAN BURUNG GARUDA, TAMAN BUKIT MALURI, KEPONG, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
620713-10-6233 |
14/08/2003 |
16/02/2004 |
|
MOKHZANI BIN MAHATHIR |
NO. 5, LORONG 1/80C, DAMAISARI, OFF JALAN MEDANG KAPAS, BUKIT BANDARAYA,
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
610117-02-5155 |
06/11/1991 |
29/08/1997 |
|
PANG HEE KIN |
2, JALAN SS 20/9, DAMANSARA UTAMA, PETALING JAYA, SELANGOR, MALAYSIA |
520215-04-5193 |
29/05/2001 |
09/06/2006 |
|
MOHD ZIN BIN BAKRI |
60 JALAN DAMAI, KUALA LUMPUR, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
570628-01-5131 |
29/08/1997 |
24/05/2001 |
|
LAU SER SENG |
NO 6, JALAN BUNGA ANGGEREK 2,DATARAN UAKY, AMPANG., AMPANG, WILAYAH
PERSEKUTUAN, MALAYSIA |
8164101 |
01/06/1992 |
22/11/1994 |
|
KARL ERICH REICHARDT |
A4-15,CITY GDN.CONDO, TMN.NIRWANA, AMPANG,SEL, AMPANG, WILAYAH
PERSEKUTUAN, MALAYSIA |
L0759795 |
17/06/1996 |
08/11/1996 |
|
GUIDO CERINA |
TRECATE VIA REGALDI, NO.18 (NOVARA) ITALY., MALAYSIA |
826647H |
23/10/1998 |
09/07/2001 |
|
EXCELSO B.VENTURA JR. |
SRI WANGSARIA CONDOMINIUM JLN ARA, 59100 K.L, MALAYSIA |
65604 |
02/11/1985 |
08/04/2003 |
|
GIORGIO VANALLI |
32,LORONG SYED PUTRA KIRI, OFF JALAN SYED PUTRA, K.L., KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
Y136186 |
03/03/1998 |
14/08/2003 |
|
CHEONG ENG TICK |
NO.50,JALAN BATAI, DAMANSARA HEIGHTS, KUALA LUMPUR, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
470901-08-5803 |
01/06/1992 |
22/11/1994 |
|
CHEUNG CHI LUNG |
ROOM 2004,LOK TUNG HOUSE, LOK FU ESTATE KOWLOON, HONGKONG. |
H90129585 |
14/08/2003 |
14/07/2004 |
|
ABDUL RAHIM BIN AWANG |
80,JALAN SS7/28, TAMAN KELANA INDAH, PETALING JAYA, SELANGOR, MALAYSIA |
650228-11-5037 |
29/08/1997 |
09/06/2006 |
|
MALCOLM NICHOLAS POTTS |
231,JALAN ARA, BANGSAR, KUALA LUMPUR, KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA |
455171415 |
09/07/2001 |
09/10/2008 |
|
EUGENE KANG HONG NGEE |
B5-3,LOJING HEIGHTS, SECTION 5, WANGSA MAJU, KUALA LUMPUR, WILAYAH PERSEKUTUAN,
MALAYSIA |
720323-01-5465 |
10/06/2008 |
12/03/2018 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KRISTOPA ANAK WATT |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
BAKER TILLY AC |
|
Auditor' Address |
: |
LEVEL 10,TOWER 1,AVENUE 5, BANGSAR SOUTH CITY, 59200 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. WONG YOUN KIM |
|
IC / PP No |
: |
A1617285 |
|
|
New IC No |
: |
700823-10-5530 |
|
|
Address |
: |
1041, JALAN KUANG GUNUNG 4, TAMAN KEPONG, 52100 KUALA LUMPUR, WILAYAH
PERSEKUTUAN, MALAYSIA. |
|
|
Date of Appointment |
: |
05/04/2013 |
|
|
2) |
Company Secretary |
: |
MR. WONG MAW CHUAN |
|
New IC No |
: |
640419-10-6345 |
|
|
Address |
: |
6 JALAN BK 3/8F, BANDAR KINRARA, PUCHONG, SELANGOR, 47100 PUCHONG,
SELANGOR, MALAYSIA. |
|
|
Date of Appointment |
: |
29/02/2012 |
|
|
3) |
Company Secretary |
: |
MS. LEE CHIN WEN |
|
New IC No |
: |
840913-08-5128 |
|
|
Address |
: |
B-25-2, BLOCK B, JAYA ONE,, NO. 72A, JALAN UNIVERSITI,, 46200 PETALING
JAYA, SELANGOR, MALAYSIA. |
|
|
Date of Appointment |
: |
12/03/2018 |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BAN HIN LEE BANK BERHAD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
23/06/1986 |
LOAN AGREEMENT |
OVERSEACHINESE BANKING CORPORATION LTD |
MYR 9,500,000.00 |
Satisfied |
|
2 |
21/06/1988 |
DEBENTURE |
BAN HIN LEE BANK BERHAD |
MYR 4,750,000.00 |
Satisfied |
|
3 |
21/06/1988 |
DEBENTURE |
BAN HIN LEE BANK BERHAD |
MYR 4,000,000.00 |
Satisfied |
|
5 |
21/06/1988 |
SUPPLEMENTAL ASSIGNMENT |
BAN HIN LEE BANK BERHAD |
MYR 8,750,000.00 |
Satisfied |
|
4 |
12/07/1988 |
SUPPLEMENTAL DEBENTURE |
OVERSEA CHINESE BANKING CORP LTD |
MYR 600,000.00 |
Satisfied |
|
6 |
28/11/1988 |
ASSIGNMENT |
OVERSEACHINESE BANKING CORP LTD |
MYR 20,000,000.00 |
Satisfied |
|
7 |
28/12/1988 |
DEED OF ASSIGNMENT |
BAN HIN LEE BANK BERHAD |
MYR 350,000.00 |
Satisfied |
|
8 |
07/11/1991 |
DEBENTURE |
BANK BUMIPUTRA MALAYSIA BERHAD |
MYR 20,300,000.00 |
Satisfied |
|
9 |
07/06/1995 |
FIRST LEGAL CHARGE |
BANK BUMIPUTRA MALAYSIA BERHAD |
MYR 20,300,000.00 |
Satisfied |
|
10 |
12/12/1996 |
FIRST LEGAL CHARGE |
BANK BUMIPUTRA MALAYSIA BERHAD |
MYR 20,300,000.00 |
Satisfied |
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.
RED
ALERT FROM CENTRAL BANK OF MALAYSIA
|
* A check has been conducted with the Central Bank of Malaysia whether the
Subject has carried out any illegal or suspicious financial activities.
The Subject has not been carried out any illegal money services business
without licence under the Money Services Business Act 2011.
The Subject has not been placed under the Financial Consumer Alert list
by the Central Bank of Malaysia.
INVESTOR
ALERT BY SECURITIES COMMISSION MALAYSIA & BURSA MALAYSIA
|
* A check has been conducted with the Securities Commission Malaysia
whether the Subject has involved in any unlicensed capital market activities
under the Securities Laws and Bursa Malaysia should the Subject is listed as
Practice Note (PN) 17 or Guidance Note (GN) 3.
The Subject has not been carried out any unlicensed capital market
activities.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
ASIA,EUROPE |
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 |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DEALERS,END USERS |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
||||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) SMALL & MEDIUM ENTERPRISE |
||||
|
Ownership of premises |
: |
OWNED |
||||
|
Factory / Premises |
: |
LOT 2, BENTONG INDUSTRIAL AREA, 28700 BENTONG, PAHANG, MALAYSIA. |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
800 |
800 |
800 |
850 |
800 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
rubber thread.
The Subject offers a full range of elastic yarns based on extruded natural
latex.
The Subject produces quality rubber threads for various applications in various
industries such as sportswear and undergarments.
The Subject also provides various types of rubber threads such as Talcum coated
thread, Powderless Silicon coated thread, Silicone high modulus thread (HM-EX),
Cream colour meat packing thread (MP), Baby diaper thread (BD) and Furniture
webbing thread (FW).
The Subject is world largest manufacturer of top quality rubber thread.
RECENT
DEVELOPMENT
|
12 June 2017
DeSales Trading Company Enter Partnership In Distribution Rubber Thread – USA
BURLINGTON, N.C. — June 12, 2017— Rubberflex Sdn. Bhd. of Kuala Lumpur, Malaysia
and DeSales Trading Co. of Burlington, N.S., have begun a partnership for the
distribution of 100-percent latex rubber thread in the United States.
“DeSales offers excellent channel for our products to reach the elastic narrow
fabric, braided rope and related market segments in the Eastern half of the
United States,” said Amy Wong, international sales coordinator at Rubberflex.
“Even some of our container load customers use DeSales as a back-up to maintain
a consistent inventory.” DeSales carries a wide range of gauges & end
counts.
Specialty gauges & end counts will be stocked on request. Customers can
source from DeSales in pallet load quantities therefore offering the
convenience of prompt deliveries in less than container load orders. Rubberflex
first organized in 1986 is currently the world’s largest producer of
100-percent natural latex rubber thread. DeSales Trading, since 1969, has been
a distributor of stock-lot yarns and over time has added first quality yarns to
their product mix. Michael Murray, vice president at DeSales, said: “The
addition of 100-percent Latex Rubber Thread from Rubberflex is a natural
progression in our line of products we offer to market segments we already
service. The product mix Rubberflex offers: 20 gauge to 110 gauge rubber,
silicone & talcum finishes in black & white presents an opportunity for
our customers to source their yarns and rubber thread needs from one central
location in the heart of the textile business in the United States —
Burlington, N.C.”
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
03-20720011 / 09-2224611, +603-2072 0011 (7 LINES) |
|
Current Telephone Number |
: |
03-20720011 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
UBN TOWER 21ST FLOOR 10 JALAN P RAMLEE 50250 KUALA LUMPUR WILAYAH
PERSEKUTUAN MALAYSIA |
|
Current Address |
: |
21ST FLOOR, UBN TOWER, P.O. BOX 48, 10, JALAN P.RAMLEE, 50250 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete. The other contact number provided at
09-2224611 belongs to the Subject's factory.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
18.80% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
23.97% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
dip in profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
64 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
77 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
21 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. The high debtors' ratio
could indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. The Subject had a
favourable creditors' ratio where the Subject could be taking advantage of
the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.48 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.45 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations and
the Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
182.61 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.17 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the
Subject's profit margin. The Subject was in good liquidity position with its
total current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. The Subject
as a lowly geared company, will be more secured compared to those highly
geared companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : 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 ) |
428 |
441 |
451 |
450 |
423 |
|
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 |
47,871 |
- |
|
Registration of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
10.7 |
- |
|
Liquidation of Companies ( No. ) |
33,226 |
34,667 |
36,778 |
38,632 |
- |
|
Liquidation of Companies ( % ) |
0.5 |
4.3 |
6.1 |
5.0 |
- |
|
Registration of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
484,029 |
- |
|
Registration of New Business ( % ) |
1.0 |
9.0 |
3.0 |
29.0 |
- |
|
Business Dissolved ( No. ) |
26,966 |
- |
- |
- |
- |
|
Business Dissolved ( % ) |
48.5 |
- |
- |
- |
- |
|
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 |
19,588 |
18,227 |
- |
|
Individual Bankruptcy ( % ) |
1.7 |
(17.4) |
6.1 |
(7.0) |
- |
|
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 |
|
|
221 : Manufacture of rubber products |
|
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector is forecast to increase 5.3% in year 2018
(2017: 5.5%). Output of export-oriented industries is projected to expand on
account of sustained demand for E&E, refined petroleum and woods products.
Growth in the domestic-oriented industries is anticipated to remain resilient
supported by ongoing construction of infrastructure projects as well as
strong demand for consumer products, especially food and transport equipment. |
|
|
Value added of the manufacturing sector expanded further by 5.8%
during the first half of 2017 (January – June 2016: 4.4%) with expansion
across a wide range of outputs in both the export- and domestic-oriented
industries. During the first eight months, production increased 6.4%, while
sales rebounded significantly by 15.6% to RM500.2 billion (January – August
2016: 4%; -0.7%; RM432.8 billion). Output of export-oriented industries rose
6.5% (January – August 2016: 4.3%) led by an upturn in global electronics
cycle and further enhanced by strong demand for resource-based products.
Meanwhile, domestic-oriented industries expanded 6.2% (January – August 2016:
3.4%) benefiting from vibrant consumption and construction activities. |
|
|
Within the export-oriented industries, E&E output expanded 9.3%
while sales surged 16.3% to RM169.5 billion (January – August 2016: 6.8%; 9%;
RM145.8 billion). Growth emanated mainly from the expansion in output of
printed circuit boards, semiconductor devices and electronic integrated
circuits which strengthened further by 24.4%, 11.9% and 16.9% (January –
August 2016: 11.9%; 5.9%; 15%), respectively. This is in line with the trend
in global semiconductor sales which is expected to expand 11.5% in 2017, the
highest level since 2010. On the contrary, the output of computers and
peripheral equipment contracted 7.7% (January – August 2016: 3.1%) as a
result of lower demand for notebooks and personal computers following rising
preferences for smartphones and tablets. Meanwhile, consumer electronics grew
at a moderate pace of 2.6% (January – August 2016: 5.3%) partly due to lower
demand for in-car entertainment, portable media players and digital cameras. |
|
|
Output of wood and wood products grew 7.3% (January – August 2016:
7.8%). The growth was primarily supported by output of sawmilling and
planning of wood which expanded 14.7% (January – August 2016: 16.8%) in
response to strong demand from Australia, Japan and the US. Meanwhile,
production of wooden and cane furniture remained steady at 10.9% (January –
August 2016: 10.9%), benefiting from greater adoption of technology and
diversification of export markets. |
|
|
Manufacture of food products rose 11.2%, largely attributed to a significant
increase in refined palm oil at 26.1% (January – August 2016: 6.3%; -3.3%),
following higher production of CPO. Meanwhile, output of other food products
grew 7% supported by production of bread, cakes and other bakery (15.6%) as
well as biscuits and cookies (12%) to meet the rising demand from households
(January – August 2016: 11.1%; 19.2%; 19.1%). |
|
|
For the year, the manufacturing sector is projected to expand further by
5.5% (2016: 4.4%) mainly attributed to an upturn in global semiconductor
sales as well as higher demand for consumer products and construction
materials. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal Growth |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
RUBBERFLEX 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 |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
582,678,708 |
565,769,971 |
481,667,367 |
573,413,579 |
658,767,029 |
|
Other Income |
4,632,238 |
7,259,316 |
2,325,168 |
4,164,897 |
5,876,753 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
587,310,946 |
573,029,287 |
483,992,535 |
577,578,476 |
664,643,782 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
62,898,127 |
80,503,378 |
1,553,888 |
17,009,193 |
10,574,168 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
62,898,127 |
80,503,378 |
1,553,888 |
17,009,193 |
10,574,168 |
|
Taxation |
(13,303,167) |
(18,028,229) |
(175,631) |
874,100 |
(848,812) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
49,594,960 |
62,475,149 |
1,378,257 |
17,883,293 |
9,725,356 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
231,463,923 |
224,238,774 |
235,015,517 |
224,204,224 |
220,003,868 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
231,463,923 |
224,238,774 |
235,015,517 |
224,204,224 |
220,003,868 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
281,058,883 |
286,713,923 |
236,393,774 |
242,087,517 |
229,729,224 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(40,885,000) |
(55,250,000) |
(12,155,000) |
(7,072,000) |
(5,525,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
240,173,883 |
231,463,923 |
224,238,774 |
235,015,517 |
224,204,224 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
1,176 |
2,128 |
5,529 |
5,010 |
|
Bankers' acceptance |
41,968 |
140,996 |
- |
- |
- |
|
Term loan / Borrowing |
- |
- |
- |
- |
2,592,046 |
|
Others |
304,369 |
743,190 |
949,948 |
1,270,039 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
346,337 |
885,362 |
952,076 |
1,275,568 |
2,597,056 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
17,717,045 |
16,860,084 |
18,697,111 |
18,054,266 |
17,530,889 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
17,717,045 |
16,860,084 |
18,697,111 |
18,054,266 |
17,530,889 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
RUBBERFLEX SDN.BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
115,161,993 |
116,967,243 |
123,036,170 |
130,252,239 |
141,683,725 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Deferred assets |
110,505 |
149,549 |
- |
- |
- |
|
Others |
9,221,090 |
8,693,821 |
6,493,346 |
2,306,897 |
5,088 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
9,331,595 |
8,843,370 |
6,493,346 |
2,306,897 |
5,088 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
124,493,588 |
125,810,613 |
129,529,516 |
132,559,136 |
141,688,813 |
|
CURRENT ASSETS |
|||||
|
Stocks |
102,496,116 |
113,490,696 |
102,224,469 |
130,654,691 |
120,568,667 |
|
Trade debtors |
123,034,194 |
96,834,681 |
122,957,426 |
127,710,496 |
134,195,109 |
|
Other debtors, deposits & prepayments |
5,025,043 |
4,540,912 |
2,133,727 |
3,166,556 |
1,392,363 |
|
Short term deposits |
- |
- |
- |
- |
79,942 |
|
Cash & bank balances |
29,110,800 |
25,621,224 |
26,934,154 |
25,979,766 |
21,010,941 |
|
Others |
570 |
1,249,895 |
561,399 |
3,558,436 |
4,526,369 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
259,666,723 |
241,737,408 |
254,811,175 |
291,069,945 |
281,773,391 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
384,160,311 |
367,548,021 |
384,340,691 |
423,629,081 |
423,462,204 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
34,164,823 |
18,608,759 |
15,749,507 |
21,646,524 |
17,571,759 |
|
Other creditors & accruals |
13,147,718 |
12,318,937 |
9,772,906 |
11,953,179 |
9,172,358 |
|
Short term borrowings/Term loans |
- |
- |
- |
112,082,889 |
125,526,627 |
|
Other borrowings |
- |
21,724,020 |
91,375,948 |
- |
- |
|
Deposits from customers |
- |
4,603 |
417,345 |
168,556 |
1,119,164 |
|
Bill & acceptances payable |
45,813,932 |
12,891,000 |
- |
- |
- |
|
Amounts owing to director |
- |
- |
49,768 |
- |
233,019 |
|
Provision for taxation |
1,341,492 |
7,092,245 |
23,912 |
35,100 |
345,181 |
|
Dividends payable/proposed |
9,746,100 |
23,205,000 |
1,105,000 |
1,105,000 |
1,105,000 |
|
Other liabilities |
1,647,278 |
194,438 |
901,260 |
149,337 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
105,861,343 |
96,039,002 |
119,395,646 |
147,140,585 |
155,073,108 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
153,805,380 |
145,698,406 |
135,415,529 |
143,929,360 |
126,700,283 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
14,502,272 |
17,109,556 |
18,110,800 |
19,051,400 |
21,604,900 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
14,502,272 |
17,109,556 |
18,110,800 |
19,051,400 |
21,604,900 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
263,796,696 |
254,399,463 |
246,834,245 |
257,437,096 |
246,784,196 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
22,100,000 |
22,100,000 |
22,100,000 |
22,100,000 |
22,100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
22,100,000 |
22,100,000 |
22,100,000 |
22,100,000 |
22,100,000 |
|
RESERVES |
|||||
|
Exchange equalisation/fluctuation reserve |
1,522,813 |
835,540 |
495,471 |
321,579 |
479,972 |
|
Retained profit/(loss) carried forward |
240,173,883 |
231,463,923 |
224,238,774 |
235,015,517 |
224,204,224 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
241,696,696 |
232,299,463 |
224,734,245 |
235,337,096 |
224,684,196 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
263,796,696 |
254,399,463 |
246,834,245 |
257,437,096 |
246,784,196 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
RUBBERFLEX SDN.BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
29,110,800 |
25,621,224 |
26,934,154 |
25,979,766 |
21,090,883 |
|
Net Liquid Funds |
(16,703,132) |
12,730,224 |
26,934,154 |
25,979,766 |
21,090,883 |
|
Net Liquid Assets |
51,309,264 |
32,207,710 |
33,191,060 |
13,274,669 |
6,131,616 |
|
Net Current Assets/(Liabilities) |
153,805,380 |
145,698,406 |
135,415,529 |
143,929,360 |
126,700,283 |
|
Net Tangible Assets |
263,796,696 |
254,399,463 |
246,834,245 |
257,437,096 |
246,784,196 |
|
Net Monetary Assets |
36,806,992 |
15,098,154 |
15,080,260 |
(5,776,731) |
(15,473,284) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
63,244,464 |
81,388,740 |
2,505,964 |
18,284,761 |
13,171,224 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
80,961,509 |
98,248,824 |
21,203,075 |
36,339,027 |
30,702,113 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
45,813,932 |
34,615,020 |
91,375,948 |
112,082,889 |
125,526,627 |
|
Total Liabilities |
120,363,615 |
113,148,558 |
137,506,446 |
166,191,985 |
176,678,008 |
|
Total Assets |
384,160,311 |
367,548,021 |
384,340,691 |
423,629,081 |
423,462,204 |
|
Net Assets |
263,796,696 |
254,399,463 |
246,834,245 |
257,437,096 |
246,784,196 |
|
Net Assets Backing |
263,796,696 |
254,399,463 |
246,834,245 |
257,437,096 |
246,784,196 |
|
Shareholders' Funds |
263,796,696 |
254,399,463 |
246,834,245 |
257,437,096 |
246,784,196 |
|
Total Share Capital |
22,100,000 |
22,100,000 |
22,100,000 |
22,100,000 |
22,100,000 |
|
Total Reserves |
241,696,696 |
232,299,463 |
224,734,245 |
235,337,096 |
224,684,196 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
2.99 |
17.46 |
(16.00) |
(12.96) |
(22.73) |
|
Proft/(Loss) Before Tax |
(21.87) |
5,080.77 |
(90.86) |
60.86 |
(50.59) |
|
Proft/(Loss) After Tax |
(20.62) |
4,432.91 |
(92.29) |
83.88 |
(47.65) |
|
Total Assets |
4.52 |
(4.37) |
(9.27) |
0.04 |
(10.07) |
|
Total Liabilities |
6.38 |
(17.71) |
(17.26) |
(5.94) |
(22.44) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.27 |
0.27 |
0.23 |
0.18 |
0.14 |
|
Liquid Ratio |
1.48 |
1.34 |
1.28 |
1.09 |
1.04 |
|
Current Ratio |
2.45 |
2.52 |
2.13 |
1.98 |
1.82 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
64 |
73 |
77 |
83 |
67 |
|
Debtors Ratio |
77 |
62 |
93 |
81 |
74 |
|
Creditors Ratio |
21 |
12 |
12 |
14 |
10 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.17 |
0.14 |
0.37 |
0.44 |
0.51 |
|
Liabilities Ratio |
0.46 |
0.44 |
0.56 |
0.65 |
0.72 |
|
Times Interest Earned Ratio |
182.61 |
91.93 |
2.63 |
14.33 |
5.07 |
|
Assets Backing Ratio |
11.94 |
11.51 |
11.17 |
11.65 |
11.17 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
10.79 |
14.23 |
0.32 |
2.97 |
1.61 |
|
Net Profit Margin |
8.51 |
11.04 |
0.29 |
3.12 |
1.48 |
|
Return On Net Assets |
23.97 |
31.99 |
1.02 |
7.10 |
5.34 |
|
Return On Capital Employed |
22.73 |
29.98 |
0.95 |
6.61 |
4.91 |
|
Return On Shareholders' Funds/Equity |
18.80 |
24.56 |
0.56 |
6.95 |
3.94 |
|
Dividend Pay Out Ratio (Times) |
0.82 |
0.88 |
8.82 |
0.40 |
0.57 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.52 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.87 |
|
MYR |
1 |
INR 17.03 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.