MIRA INFORM REPORT

Report No. :	495051
Report Date :	03.03.2018

IDENTIFICATION DETAILS

Name :	PERFECT WIREMAKERS SDN. BHD.
Registered Office :	B-38,1st Floor, Lorong Seri Teruntum 139, Off Jalan Bukit Ubi, 25100 Kuantan, Pahang
Country :	Malaysia
Financials (as on) :	30.06.2015
Date of Incorporation :	27.04.2007
Com. Reg. No.:	771267-H
Legal Form :	Private Limited (Limited By Share)
Line of Business :	The Subject is principally engaged in manufacturing of hard drawn wires, galvanised steel wires and other wire product.
No. of Employees :	Not available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow but Correct
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 (30.09.2017)	Current Rating (31.12.2017)
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.

:

771267-H

GST NO.

:

000866885632

COMPANY NAME

:

PERFECT WIREMAKERS SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

27/04/2007

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

B-38,1ST FLOOR, LORONG SERI TERUNTUM 139, OFF JALAN BUKIT UBI, 25100 KUANTAN, PAHANG, MALAYSIA.

BUSINESS ADDRESS

:

KAWASAN PERINDUSTRIAN GURUN, 08100 BEDONG, KEDAH, MALAYSIA.

TEL.NO.

:

04-4688466

FAX.NO.

:

04-4683005

CONTACT PERSON

:

WONG LEONG MING ( DIRECTOR )

INDUSTRY CODE

:

25992

PRINCIPAL ACTIVITY

:

MANUFACTURING OF HARD DRAWN WIRES, GALVANISED STEEL WIRES AND OTHER WIRE PRODUCT

AUTHORISED CAPITAL

:

MYR 25,000,000.00 DIVIDED INTO
ORDINARY SHARE 25,000,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 15,000,100.00 DIVIDED INTO
ORDINARY SHARES 15,000,100 CASH OF MYR 1.00 EACH.

SALES

:

MYR 126,409,500 [2015]

NET WORTH

:

MYR 20,926,382 [2015]

STAFF STRENGTH

:

N/A

BANKER (S)

:

MALAYAN BANKING BHD

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

SLOW BUT CORRECT

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

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) manufacturing of hard drawn wires, galvanised steel wires and other wire product.

The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

The immediate holding company of the Subject is PERFECT CHANNEL SDN. BHD., a company incorporated in MALAYSIA.

Share Capital History

Date	Authorised Shared Capital	Issue & Paid Up Capital
23/12/2014	MYR 25,000,000.00	MYR 15,000,100.00
17/06/2007	MYR 100,000.00	MYR 100.00
05/05/2007	MYR 100,000.00	MYR 2.00

The major shareholder(s) of the Subject are shown as follows :

Current Shareholder(s) :

Name	Address	IC/PP/Loc No	Shareholding	(%)
PERFECT CHANNEL SDN. BHD.	KAWASAN PERINDUSTRIAN GURUN, 08100 BEDONG, KEDAH, MALAYSIA.	718481V	15,000,075.00	100.00
MR. TOH TUAN SUN	30, JALAN SS 3/80, 47300 PETALING JAYA, SELANGOR, MALAYSIA.	510410-08-5853 0395719	15.00	0.00
MR. WONG LEONG MING +	NO.35, LORONG BINJAI, DESA NAGAMAS, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.	640831-07-5579 7437465	5.00	0.00
MR. TAN KEAN JIN	NO.27, JALAN PERMATA, TAMAN PERMATA INDAH, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.	491016-07-5277 2915873	5.00	0.00
			---------------	------
			15,000,100.00	100.00
			============	=====

+ Also Director

Former Shareholder(s) :

Name	Country	IC/PP/Loc No	Shareholding	Last Updated
HONG CHING YEE	MALAYSIA	820301-06-5240	N/A	N/A
NORAZHANI BINTI ABD LATIF	MALAYSIA	820822-06-5238	N/A	N/A

DIRECTORS

DIRECTOR 1

Name Of Subject	:	MR. HENRY PHENG CHIN GUAN, DATO`
Address	:	A-5188, LORONG KUBANG BUAYA 80, KUANTAN, PAHANG
Other Address(es)	:	NO. 2, LORONG KUBANG BUAYA 89, 25250 KUANTAN, PAHANG, MALAYSIA.
IC / PP No	:	A1906554
New IC No	:	710827-06-5109
Date of Birth	:	27/08/1971
Nationality	:	MALAYSIAN
Date of Appointment	:	11/06/2007

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	781749T	BINTANG MAKMUR SDN. BHD.	Director	06/05/2014	0.00	-	MYR(6,889.00)	2016	-	25/01/2018
2	375198U	DIAMOND MEANS SDN. BHD.	Director	16/10/2002	0.00	-	MYR(3,248.00)	2015	-	25/01/2018
3	826447X	ESTEEM SCORE SDN. BHD.	Director	11/09/2008	0.00	-	MYR(601,924.00)	2016	-	25/01/2018
4	387881X	FIBRE WOOD TIMBER SDN. BHD.	Director	01/04/2013	0.00	-	MYR194,131.00	2010	-	25/01/2018
5	1108232W	GALAKSI JERNIH SDN. BHD.	Director	09/12/2014	0.00	-	282.00	-	-	25/01/2018
6	531214P	GEBENG JAYA SDN. BHD.	Director	09/05/2001	0.00	-	MYR496,015.00	2016	-	25/01/2018
7	600816K	GREAT WALL HARVEST SDN. BHD.	Director	30/03/2004	84,888.00	10.00	MYR(1,691,100.00)	2016	-	25/01/2018
8	408124A	HARVARD VISION SDN. BHD.	Director	29/11/1996	0.00	-	MYR(92,746.00)	2016	-	25/01/2018
9	896026H	HORIZON EXTREME MINING SDN. BHD.	Shareholder	-	29,999,999.00	60.00	MYR4,720,307.00	2011	Winding-Up by High Court	25/01/2018
10	617413A	K. S. METAL (MIRI) SDN. BHD.	Shareholder	-	170,318.00	20.30	MYR794,680.00	2006	-	25/01/2018
11	702000H	K. S. METAL (SABAH) SDN. BHD.	Director	06/07/2005	20,333.00	20.33	MYR(1,733,641.00)	2006	-	25/01/2018
12	1128771X	KANG DA RESOURCES SDN. BHD.	Director	23/01/2015	49.00	49.00	282.00	-	-	25/01/2018
13	898963K	KIEN SAN METAL (JB) SDN. BHD.	Director	08/08/2011	30,500.00	30.50	282.00	-	-	25/01/2018
14	705331A	KIEN SAN METAL (SIBU) SDN. BHD.	Director	01/04/2013	0.00	-	MYR258,598.00	2005	In the process of striking off	25/01/2018
15	690269X	KIEN SAN SHIPPING SDN. BHD.	Director	01/07/2005	1.00	25.00	MYR195,443.00	2009	-	25/01/2018
16	919098U	KIN KEE MINING INDUSTRIES SDN. BHD.	Director	20/10/2010	20.00	20.00	MYR(2,682.00)	2012	-	25/01/2018
17	1013692D	KIN KEE STEEL PIPE MANUFACTURING SDN. BHD.	Director	13/08/2012	1.00	25.00	MYR1,767,973.00	2016	-	25/01/2018
18	711439H	KIN KEE STEEL SERVICE CENTRE SDN. BHD.	Director	10/04/2006	0.00	-	MYR(3,408,477.00)	2015	-	25/01/2018
19	210470M	KINSTEEL BHD	Director	05/02/1997	0.00	-	MYR(91,744,000.00)	2016	Winding-Up by High Court	25/01/2018
20	946843M	KK FLEET & FABRICATIONS SDN. BHD.	Director	31/05/2011	1.00	25.00	282.00	-	In the process of striking off	25/01/2018
21	683098V	LANCHANG MINING SDN. BHD.	Director	04/04/2008	0.00	-	MYR606,834.00	2016	-	25/01/2018
22	1155241H	LEMBAH GAMBANG SDN. BHD.	Director	19/10/2015	0.00	-	282.00	-	-	25/01/2018
23	1011717A	PAVILION STANDARD SDN. BHD.	Director	16/08/2012	1,250.00	25.00	MYR4,541,628.00	2013	-	25/01/2018
24	718481V	PERFECT CHANNEL SDN. BHD.	Director	25/01/2006	0.00	-	MYR(37,103,000.00)	2016	-	25/01/2018
25	954069T	PERFECT MODERATE SDN. BHD.	Shareholder	-	89.00	89.00	282.00	-	-	25/01/2018
26	771267H	PERFECT WIREMAKERS SDN. BHD.	Director	11/06/2007	0.00	-	MYR468,799.00	2015	-	25/01/2018
27	157540V	PERNIAGAAN KIN KEE SDN. BHD.	Director	13/12/2013	0.00	-	MYR2,268,514.00	2006	-	25/01/2018
28	798513D	PERWAJA HOLDINGS BERHAD	Director	22/09/2016	0.00	-	MYR(387,336,000.00)	2016	-	25/01/2018
29	187922H	PERWAJA STEEL SDN. BHD.	Director	07/09/2006	0.00	-	MYR(371,446,000.00)	2016	Winding-Up by High Court	25/01/2018
30	929927P	PRIMA VAST SDN. BHD.	Director	20/01/2011	0.00	-	MYR(3,732.00)	2012	-	25/01/2018
31	120537D	ROMPIN BEACH RESORTS SDN. BHD.	Director	06/03/2004	0.00	-	MYR13,424.00	2015	-	25/01/2018
32	738594X	SAGU MINING SDN. BHD.	Director	15/05/2012	0.00	-	MYR(1,307,018.00)	2016	-	25/01/2018
33	940204H	SIBU HARDWARE SDN. BHD.	Director	12/04/2011	1.00	33.33	282.00	-	-	25/01/2018
34	630194P	VESTIGE TRANSFORM SDN. BHD.	Director	14/11/2003	1,000,000.00	50.00	MYR(4,707.00)	2012	-	25/01/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	1175698T	DARUL BANGSA HOLDINGS SDN. BHD.	Director	09/05/2016	03/06/2016	-	-
2	1183802H	DS STEEL SDN. BHD.	Director	09/05/2016	03/06/2016	-	-
3	954069T	PERFECT MODERATE SDN. BHD.	Director	14/09/2011	19/08/2014	-	-
4	821350K	RED TOMATO MEDIA SDN. BHD.	Director	17/04/2009	16/06/2009	-	-
5	809465M	SUNRISE TROPICAL SDN. BHD.	Director	06/04/2011	11/12/2013	-	-
6	1075126A	ZEVA STATION SDN. BHD.	Director	15/12/2014	20/06/2015	-	-
7	1075126A	ZEVA STATION SDN. BHD.	Shareholder	-	-	-	-

DIRECTOR 2

Name Of Subject	:	MR. PHENG CHIN SHIUN
Address	:	NO.8-2-1, JALAN SETIA PRIMA (L), U13/L, SETIA ALAM, 40170 SHAH ALAM, SELANGOR, MALAYSIA.
Other Address(es)	:	- NO. 2 LORONG KUBANG BUAYA 89, 25250 KUANTAN, PAHANG, MALAYSIA. - 35, JALAN BU 11/1A, BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA.
IC / PP No	:	A2824721
New IC No	:	740718-06-5035
Date of Birth	:	18/07/1974
Nationality	:	MALAYSIAN
Date of Appointment	:	11/06/2007

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	1029287K	ADVANCE PROTECTIVE SOLUTION SDN. BHD.	Director	26/12/2012	80,000.00	80.00	MYR84,955.00	2016	-	25/01/2018
2	899719T	ASTANA CENTURY SDN. BHD.	Director	30/04/2010	1.00	50.00	MYR(2,646.00)	2016	-	25/01/2018
3	1089514P	AVIRON MARKETING SDN. BHD.	Director	16/05/2014	60.00	60.00	MYR(3,265.00)	2015	-	25/01/2018
4	1004700K	FOCUS ASSEMBLY MARKETING SDN. BHD.	Director	05/06/2012	1.00	50.00	MYR(3,129.00)	2016	-	25/01/2018
5	974819M	GENIUS PARADISE SDN. BHD.	Shareholder	-	25,000.00	25.00	MYR(948,955.00)	2016	-	25/01/2018
6	914954V	HARVARD CENTURY SDN. BHD.	Director	15/09/2010	0.00	-	MYR(3,850.00)	2016	-	25/01/2018
7	893093H	HARVARD ENGINEERING SDN. BHD.	Director	12/03/2010	400,000.00	40.00	MYR22,811.00	2016	-	25/01/2018
8	935057U	INFORM SYSTEMS SDN. BHD.	Director	04/03/2011	60,000.00	60.00	MYR(4,564.00)	2016	-	25/01/2018
9	654656P	JUBTRONIC SDN. BHD.	Director	30/04/2005	1.00	50.00	MYR(2,046.00)	2015	-	25/01/2018
10	944703A	LUMINANCE SYSTEMS SDN. BHD.	Director	16/05/2011	90,000.00	60.00	MYR114,824.00	2016	-	25/01/2018
11	665263U	MBL METAL (IPOH) SDN. BHD.	Director	08/09/2004	0.00	-	MYR(464,938.00)	2005	-	25/01/2018
12	631748P	MBL SOLUTIONS SDN. BHD.	Director	01/03/2006	1.00	50.00	MYR449.00	2006	Disolved by Registrar	25/01/2018
13	498351X	MBL TRADING SDN. BHD.	Director	10/08/2009	2.00	0.0005	MYR131,455.00	2014	-	25/01/2018
14	529244W	MBL TRANSPORT SDN. BHD.	Director	17/10/2000	1.00	50.00	MYR(5,420.00)	2015	-	25/01/2018
15	297884M	MUTIARA BESI LOGAM SDN. BHD.	Director	18/10/2002	0.00	-	MYR(144,116.00)	2006	-	25/01/2018
16	1047596V	NEWCREST MINING SDN. BHD.	Director	27/05/2013	0.00	-	MYR(197,518.00)	2016	-	25/01/2018
17	882300V	PCS VISION (M) SDN. BHD.	Director	10/12/2009	250,000.00	50.00	MYR(253,991.00)	2016	-	25/01/2018
18	939781H	PCS VISION DEVELOPMENT SDN. BHD.	Director	08/04/2011	50.00	50.00	MYR(121,211.00)	2016	-	25/01/2018
19	1147376A	PCS VISION MULTIMEDIA SDN. BHD.	Director	05/06/2015	1.00	50.00	MYR(3,770.00)	2015	-	25/01/2018
20	533071U	PCS VISION SDN. BHD.	Director	27/11/2000	9,999,998.00	100.00	MYR185,275.00	2016	-	25/01/2018
21	939612U	PCS VISION TECHNOLOGY SDN. BHD.	Director	07/04/2011	80.00	80.00	MYR(2,529.00)	2016	-	25/01/2018
22	771267H	PERFECT WIREMAKERS SDN. BHD.	Director	11/06/2007	0.00	-	MYR468,799.00	2015	-	25/01/2018
23	187922H	PERWAJA STEEL SDN. BHD.	Director	07/09/2006	0.00	-	MYR(371,446,000.00)	2016	Winding-Up by High Court	25/01/2018
24	956362U	SEMAI MENANG SDN. BHD.	Director	19/10/2011	0.00	-	MYR(122,185.00)	2015	-	25/01/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	539411A	CARING BELLE SDN. BHD.	Director	26/06/2001	16/11/2009	-	-
2	210470M	KINSTEEL BHD	Director	16/02/2015	22/05/2017	-	Winding-Up by High Court
3	529245K	MBL METAL SDN. BHD.	Director	17/10/2000	23/04/2002	-	-
4	718481V	PERFECT CHANNEL SDN. BHD.	Director	13/11/2006	10/07/2017	-	-
5	798513D	PERWAJA HOLDINGS BERHAD	Director	25/06/2008	31/12/2014	-	-

DIRECTOR 3

Name Of Subject	:	TAN SRI DATO' SRI DATO' PHENG YIN HUAH
Address	:	A-5188, LORONG KUBANG BUAYA 80, 25250 KUANTAN, PAHANG, MALAYSIA.
Other Address(es)	:	TINGKAT 9, MAJU TOWER, 1001, JALAN SULTAN ISMAI, 50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.
IC / PP No	:	2505742
New IC No	:	480702-06-5091
Date of Birth	:	02/07/1948
Nationality	:	MALAYSIAN
Date of Appointment	:	11/06/2007

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	850684W	BANDAR DUTAMAS SDN. BHD.	Director	26/03/2010	1.00	0.10	MYR(1,886.00)	2011	-	25/01/2018
2	781272U	BIOGROW NATURE SDN. BHD.	Director	26/07/2007	125,000.00	50.00	MYR645,699.00	2011	-	25/01/2018
3	375198U	DIAMOND MEANS SDN. BHD.	Shareholder	-	25,000.00	25.00	MYR(3,248.00)	2015	-	25/01/2018
4	531214P	GEBENG JAYA SDN. BHD.	Director	07/11/2000	0.00	-	MYR496,015.00	2016	-	25/01/2018
5	600816K	GREAT WALL HARVEST SDN. BHD.	Director	20/02/2003	198,073.00	23.33	MYR(1,691,100.00)	2016	-	25/01/2018
6	408124A	HARVARD VISION SDN. BHD.	Director	29/11/1996	0.00	-	MYR(92,746.00)	2016	-	25/01/2018
7	617413A	K. S. METAL (MIRI) SDN. BHD.	Director	17/06/2003	0.00	-	MYR794,680.00	2006	-	25/01/2018
8	332739V	KIN KEE DEVELOPMENT SDN. BHD.	Director	06/02/1995	0.00	-	MYR(5,914.00)	2011	-	25/01/2018
9	60264H	KIN KEE HARDWARE SDN. BHD.	Director	15/07/1980	10,019,672.00	17.47	MYR3,352,337.00	2015	-	25/01/2018
10	362624T	KIN KEE HOLDINGS SDN. BHD.	Director	07/10/1995	1,996,262.00	17.67	MYR(284,277,000.00)	2012	-	25/01/2018
11	269528V	KIN KEE METAL SDN. BHD.	Director	09/07/1993	2,605,156.00	32.01	MYR3,584,233.00	2006	-	25/01/2018
12	919098U	KIN KEE MINING INDUSTRIES SDN. BHD.	Director	20/10/2010	50.00	50.00	MYR(2,682.00)	2012	-	25/01/2018
13	171162U	KIN KEE PROPERTIES SDN. BHD.	Director	14/06/1988	1,300,000.00	65.00	MYR(835,103.00)	2007	-	25/01/2018
14	1013692D	KIN KEE STEEL PIPE MANUFACTURING SDN. BHD.	Director	13/08/2012	1.00	25.00	MYR1,767,973.00	2016	-	25/01/2018
15	711439H	KIN KEE STEEL SERVICE CENTRE SDN. BHD.	Director	10/04/2006	0.00	-	MYR(3,408,477.00)	2015	-	25/01/2018
16	442691V	KIN KEE TRANSPORT SDN. BHD.	Director	13/08/1997	214,002.00	33.33	MYR(132,441.00)	2016	-	25/01/2018
17	210470M	KINSTEEL BHD	Director	03/01/1991	0.00	-	MYR(91,744,000.00)	2016	Winding-Up by High Court	25/01/2018
18	317397V	KUANTAN METAL & MACHINERY PARTS SDN. BHD.	Director	17/10/1994	0.00	-	MYR76,683.00	2015	-	25/01/2018
19	683098V	LANCHANG MINING SDN. BHD.	Director	29/10/2013	0.00	-	MYR606,834.00	2016	-	25/01/2018
20	156842V	LEN HUP HUAT HARDWARE TRADING SDN BHD	Director	16/10/1986	270,000.00	15.00	MYR(3,411.00)	2016	-	25/01/2018
21	834068D	MENTAKAB STAR MALL SDN. BHD.	Director	25/09/2008	5,000,000.00	29.63	MYR(94,203.00)	2011	-	25/01/2018
22	608697H	NATIONAL SME COUNCIL	Director	12/03/2003	0.00	-	MYR136,815.00	2016	-	25/01/2018
23	673351D	NU-EDGE REALTY SDN. BHD.	Director	30/09/2010	1,450,000.00	29.00	MYR27,318.00	2012	-	25/01/2018
24	718481V	PERFECT CHANNEL SDN. BHD.	Director	25/01/2006	0.00	-	MYR(37,103,000.00)	2016	-	25/01/2018
25	771267H	PERFECT WIREMAKERS SDN. BHD.	Director	11/06/2007	0.00	-	MYR468,799.00	2015	-	25/01/2018
26	157540V	PERNIAGAAN KIN KEE SDN. BHD.	Director	15/11/1986	33,758,122.00	57.60	MYR2,268,514.00	2006	-	25/01/2018
27	798513D	PERWAJA HOLDINGS BERHAD	Director	25/06/2008	0.00	-	MYR(387,336,000.00)	2016	-	25/01/2018
28	187922H	PERWAJA STEEL SDN. BHD.	Director	07/09/2006	0.00	-	MYR(371,446,000.00)	2016	Winding-Up by High Court	25/01/2018
29	371564H	POWER REPUTE SDN. BHD.	Shareholder	-	250,000.00	50.00	MYR(31,015.00)	2014	-	25/01/2018
30	929927P	PRIMA VAST SDN. BHD.	Director	12/05/2011	0.00	-	MYR(3,732.00)	2012	-	25/01/2018
31	461691K	PROSPEROUS PROPERTIES SDN. BHD.	Director	29/04/1998	0.00	-	MYR58,211.00	2011	-	25/01/2018
32	1066169H	RISING STAR METROPOLITAN SDN. BHD.	Director	26/03/2014	0.00	-	282.00	-	-	25/01/2018
33	120537D	ROMPIN BEACH RESORTS SDN. BHD.	Director	28/11/1994	7,648,499.00	76.48	MYR13,424.00	2015	-	25/01/2018
34	738594X	SAGU MINING SDN. BHD.	Director	15/07/2009	0.00	-	MYR(1,307,018.00)	2016	-	25/01/2018
35	1007616V	SEKOLAH MENENGAH CHONG HWA KUANTAN SDN. BHD.	Director	26/06/2012	1.00	33.33	MYR3,358.00	2015	Winding-Up by Member Voluntary	25/01/2018
36	389686A	SISTEM DUTA SDN. BHD.	Director	08/07/1996	1,729,837.00	75.49	MYR4,929,178.00	2011	-	25/01/2018
37	537093P	SURPLUS RETURNS SDN. BHD.	Director	22/10/2009	6,000.00	30.00	MYR(5,133.00)	2011	-	25/01/2018
38	630194P	VESTIGE TRANSFORM SDN. BHD.	Director	14/11/2003	1,000,000.00	50.00	MYR(4,707.00)	2012	-	25/01/2018
39	642260U	YAYASAN PENDIDIKAN GABUNGAN PERSATUAN CINA PAHANG	Director	13/02/2004	0.00	-	N/A	2016	-	25/01/2018
40	1041046T	YAYASAN SEKOLAH MENENGAH CHONG HWA KUANTAN	Director	03/04/2013	0.00	-	N/A	2015	-	25/01/2018

FORMER INTEREST

No	Local No	Company	Designation	App Date	Withdrawn Date	Shareholding	Status
1	477352H	ALLIED JAYA SDN. BHD.	Director	28/03/2000	02/06/2000	-	-
2	375198U	DIAMOND MEANS SDN. BHD.	Director	02/04/1996	16/10/2002	-	-
3	273380X	KIEN SAN METAL SDN. BHD.	Director	25/09/1993	04/12/2001	-	-
4	15528D	LIEW CHOON & SONS SDN. BHD.	Shareholder	-	-	-	-
5	297884M	MUTIARA BESI LOGAM SDN. BHD.	Director	22/06/1994	18/10/2002	-	-
6	371564H	POWER REPUTE SDN. BHD.	Director	25/04/1996	16/09/2002	-	-
7	659831T	PREMIUM SHARES SDN. BHD.	Director	23/08/2004	06/04/2007	-	-
8	659831T	PREMIUM SHARES SDN. BHD.	Shareholder	-	-	5.00	-
9	809465M	SUNRISE TROPICAL SDN. BHD.	Director	08/10/2010	11/12/2013	-	-
10	861635X	TELLUS RESOURCES SDN. BHD.	Director	11/08/2009	18/01/2013	-	-
11	861635X	TELLUS RESOURCES SDN. BHD.	Shareholder	-	-	1.00	-

DIRECTOR 4

Name Of Subject	:	MR. WONG LEONG MING
Address	:	NO.35, LORONG BINJAI, DESA NAGAMAS, 14000 BUKIT MERTAJAM, PULAU PINANG, MALAYSIA.
IC / PP No	:	7437465
New IC No	:	640831-07-5579
Nationality	:	MALAYSIAN
Date of Appointment	:	24/06/2015

INTEREST CHECK

Interest in companies	:	see below
Interest in business	:	none in our databank
Former interest	:	none in our databank

INTEREST IN COMPANY

No	Local No	Company	Designation	App Date	Shareholding		Profit/(loss) After Tax	Financial Year	Status	As At
					No.	%
1	771267H	PERFECT WIREMAKERS SDN. BHD.	Director	24/06/2015	5.00	0.00003	MYR468,799.00	2015	-	25/01/2018

FORMER DIRECTOR(S)

Name	Address	IC/PP No	Appointed Date	Withdrawn Date
NORAZHANI BINTI ABD LATIF	LOT 40, TAMAN SRI MAULANA, PEKAN, PAHANG, MALAYSIA	820822-06-5238	27/04/2007	11/06/2007
RAVI MANCHANDA	FLAT 88B22, ENAU COURT, JALAN ENAU, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA	E2513064J	14/05/2013	22/04/2014
LIM CHAING CHEAH	2005B-19,SUMMERVILLA CONDO, JALAN WANGSA BAIDURI, SUBANG JAYA	500514-07-5263	11/06/2007	30/05/2014
HONG CHING YEE	NO. 39, LORONG BUKIT SETONGKOL JAYA 60, TAMAN SETONGKOL JAYA 2, KUANTAN, PAHANG, MALAYSIA	820301-06-5240	27/04/2007	11/06/2007
AMRO F F A H ALKHADHRA	NO.14, JALAN LEMBAH TUNKU, BUKIT TUNKU, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA	003045305	16/04/2010	14/05/2013
TOH TUAN SUN	30, JALAN SS 3/80, PETALING JAYA, SELANGOR, MALAYSIA	510410-08-5853	11/06/2007	08/12/2016
MOHAMED FUAD BIN YON	55, JALAN KENYALANG 11/8, KOTA DAMANSARA, PETALING JAYA, SELANGOR, MALAYSIA	491230-01-5179	11/06/2007	16/04/2010

Note : The above information was generated from our database.

MANAGEMENT

1)	Name of Subject	:	WONG LEONG MING
	Position	:	DIRECTOR

AUDITOR

Auditor	:	CROWE HORWATH
Auditor' Address	:	LEVEL 16, TOWER C MEGAN AVENUE II, 12, JALAN YAP KWAN SENG, 50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

COMPANY SECRETARIES

1)	Company Secretary	:	MR. YEO CHEE LIANG
	IC / PP No	:	2656823
	New IC No	:	400503-10-5377
	Address	:	A-5066, TAMAN SRI KUANTAN, 25250 KUANTAN, PAHANG, MALAYSIA.

2)	Company Secretary	:	MS. CHAN LAI CHOON
	IC / PP No	:	5015784
	New IC No	:	560815-08-6614
	Address	:	71,PSRN. ZAABA, TMN.TUN DR.ISMAIL, K.LUMPUR, 60000 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BANKING

Banking relations are maintained principally with :

1)

Name

:

MALAYAN BANKING BHD

ENCUMBRANCE (S)

Charge No	Creation Date	Charge Description	Chargee Name	Total Charge	Status
1	25/08/2010	DEBENTURE	OCBC AL-AMIN BANK BERHAD	-	Unsatisfied

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

CLIENTELE

Local	:	YES
Domestic Markets	:	MALAYSIA
Overseas	:	YES
Export Market	:	ASIA AUSTRALIA UNITED KINGDOM
Credit Term	:	N/A
Payment Mode	:	CHEQUES TELEGRAPHIC TRANSFER (TT)

OPERATIONS

Products manufactured

:

HARD DRAWN WIRES

Total Number of Employees:
YEAR	2016	2015	2013
GROUP	N/A	N/A	N/A
COMPANY	200	200	200

Branch

:

NO

Other Information:

The Subject is principally engaged in the (as a / as an) manufacturing of hard drawn wires, galvanised steel wires and other wire product.

The Subject is engaged in the manufacturing of galvanized steel wires for electrical and electronic.

The Subject also makes wires for fencing and poultry equipments.

The Subject refused to disclose further on its operation.

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	:	04-4688466
Match	:	N/A
Address Provided by Client	:	KAWASAN PERINDUSTRIAN GURUN PO BOX 25 08100 BEDONG KEDAN DARUL AMAN, MALAYSIA
Current Address	:	KAWASAN PERINDUSTRIAN GURUN, 08100 BEDONG, KEDAH, MALAYSIA.
Match	:	NO
Latest Financial Accounts	:	YES
We contacted the Subject and its Company Secretary pertaining to its financials for the year 2016 but they refused to comment anything on this.

Other Investigations

We contacted one of the staff from the Subject and she provided some information.

The address provided is the Subject's PO box address.

FINANCIAL ANALYSIS

Profitability
Turnover	:	Erratic	[	2010 - 2015	]
Profit/(Loss) Before Tax	:	Increased	[	2010 - 2015	]
Return on Shareholder Funds	:	Unfavourable	[	2.24%	]
Return on Net Assets	:	Unfavourable	[	2.07%	]
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 unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns.
Liquidity
Current Ratio	:	Unfavourable	[	0.00 Times	]
Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject.
Solvency
Liability Ratio	:	Unfavourable	[	2.90 Times	]
The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected.
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. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. The Subject's liabilities level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.
Overall financial condition of the Subject : POOR

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
25992 : Manufacture of metal cable, plaited bands and similar articles
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

Incorporated in 2007, the Subject is a Private Limited company, focusing on manufacturing of hard drawn wires, galvanised steel wires and other wire product. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Presently, the issued and paid up capital of the Subject stands at MYR 15,000,100.

Investigation revealed, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

Despite the lower turnover, the Subject's pre-tax profit have increased compared to the previous year. The higher profit could be due to better control of its operating costs and efficiency in utilising its resources. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. The Subject has high liabilities ratio and it may face financial difficulties if no additional capital is injected. Given a positive net worth standing at MYR 20,926,382, the Subject should be able to maintain its business in the near terms.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market.

In view of the above, we recommend credit be granted to the Subject with close monitoring.

PROFIT AND LOSS ACCOUNT

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS)

PERFECT WIREMAKERS SDN. BHD.

Financial Year End	2015-06-30	2014-06-30	2012-12-31	2011-12-31	2010-12-31
Months	12	18	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	SUMMARY	FULL	FULL	FULL	FULL
Currency	MYR	MYR	MYR	MYR	MYR
TURNOVER	126,409,500	188,174,005	110,423,838	83,766,416	65,519,757
Other Income	-	1,625,974	169,281	275,621	20,427
	----------------	----------------	----------------	----------------	----------------
Total Turnover	126,409,500	189,799,979	110,593,119	84,042,037	65,540,184
Costs of Goods Sold	-	(174,283,224)	(102,914,793)	(76,821,011)	(57,709,915)
	----------------	----------------	----------------	----------------	----------------
Gross Profit	-	15,516,755	7,678,326	7,221,026	7,830,269
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) FROM OPERATIONS	432,454	142,637	(273,887)	1,770,730	2,298,850
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) BEFORE TAXATION	432,454	142,637	(273,887)	1,770,730	2,298,850
Taxation	36,345	739,864	84,303	(368,217)	(459,635)
	----------------	----------------	----------------	----------------	----------------
PROFIT/(LOSS) AFTER TAXATION	468,799	882,501	(189,584)	1,402,513	1,839,215
	----------------	----------------	----------------	----------------	----------------
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
As previously reported	3,234,599	2,352,098	2,541,682	1,139,169	(700,046)
	----------------	----------------	----------------	----------------	----------------
As restated	3,234,599	2,352,098	2,541,682	1,139,169	(700,046)
	----------------	----------------	----------------	----------------	----------------
PROFIT AVAILABLE FOR APPROPRIATIONS	3,703,398	3,234,599	2,352,098	2,541,682	1,139,169
	----------------	----------------	----------------	----------------	----------------
RETAINED PROFIT/(LOSS) CARRIED FORWARD	3,703,398	3,234,599	2,352,098	2,541,682	1,139,169
	=============	=============	=============	=============	=============
INTEREST EXPENSE (as per notes to P&L)	0
Bank overdraft	-	143,619	121,776	-	-
Bankers' acceptance	-	2,670,652	1,633,616	-	-
Hire purchase	-	2,555,160	17,388	12,857	-
Letter of credit	-	291,491	-	-	-
Term loan / Borrowing	-	-	-	730,609	-
Others	-	18,739	42,684	-	561,968
	----------------	----------------	----------------	----------------	----------------
	-	5,679,661	1,815,464	743,466	561,968
	=============	=============	=============	=============	=============

BALANCE SHEET

PERFECT WIREMAKERS SDN. BHD.

ASSETS EMPLOYED:
FIXED ASSETS	38,269,469	36,894,767	40,264,878	36,585,160	17,596,633
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM ASSETS	38,269,469	36,894,767	40,264,878	36,585,160	17,596,633
CURRENT ASSETS
Stocks	-	30,744,063	31,245,197	21,753,464	20,361,632
Trade debtors	-	13,496,526	13,778,090	9,656,726	8,942,289
Other debtors, deposits & prepayments	-	688,602	778,289	8,193,013	13,443,099
Cash & bank balances	-	536,679	534,374	461,863	1,219,161
	----------------	----------------	----------------	----------------	----------------
TOTAL CURRENT ASSETS	43,382,564	45,465,870	46,335,950	40,065,066	43,966,181
	----------------	----------------	----------------	----------------	----------------
TOTAL ASSET	81,652,033	82,360,637	86,600,828	76,650,226	61,562,814
	=============	=============	=============	=============	=============
CURRENT LIABILITIES
Trade creditors	-	5,980,978	2,897,559	1,670,956	15,837,176
Other creditors & accruals	-	455,299	2,612,049	1,220,639	10,539,151
Hire purchase & lease creditors	-	2,365,215	2,630,273	-	602,902
Bank overdraft	-	1,922,611	2,964,121	2,706,023	-
Bill & acceptances payable	-	37,705,017	33,365,862	20,050,836	7,447,539
Amounts owing to holding company	-	12,874,274	15,588,256	19,691,728	-
Amounts owing to related companies	-	992,954	792,603	-	-
Provision for taxation	-	216	215	2,573	459,635
Lease payables	-	-	-	2,341,340	-
	----------------	----------------	----------------	----------------	----------------
TOTAL CURRENT LIABILITIES	-	62,296,564	60,850,938	47,684,095	34,886,403
	----------------	----------------	----------------	----------------	----------------
NET CURRENT ASSETS/(LIABILITIES)	43,382,564	(16,830,694)	(14,514,988)	(7,619,029)	9,079,778
	----------------	----------------	----------------	----------------	----------------
LONG TERM LIABILITIES
Lease obligations	-	-	-	10,599,557	-
Hire purchase creditors	-	1,829,374	7,657,418	-	10,537,142
Deferred taxation	-	-	740,274	824,792	-
	----------------	----------------	----------------	----------------	----------------
TOTAL LONG TERM LIABILITIES	60,725,651	1,829,374	8,397,692	11,424,349	10,537,142
	----------------	----------------	----------------	----------------	----------------
TOTAL NET ASSETS	20,926,382	18,234,699	17,352,198	17,541,782	16,139,269
	=============	=============	=============	=============	=============
FINANCED BY:
SHARE CAPITAL
Ordinary share capital	15,000,100	15,000,100	15,000,100	15,000,100	15,000,100
	----------------	----------------	----------------	----------------	----------------
TOTAL SHARE CAPITAL	15,000,100	15,000,100	15,000,100	15,000,100	15,000,100
RESERVES
Share premium	2,222,884	-	-	-	-
Retained profit/(loss) carried forward	3,703,398	3,234,599	2,352,098	2,541,682	1,139,169
	----------------	----------------	----------------	----------------	----------------
TOTAL RESERVES	5,926,282	3,234,599	2,352,098	2,541,682	1,139,169
	----------------	----------------	----------------	----------------	----------------
SHAREHOLDERS' FUNDS/EQUITY	20,926,382	18,234,699	17,352,198	17,541,782	16,139,269
	=============	=============	=============	=============	=============

FINANCIAL RATIO

PERFECT WIREMAKERS SDN. BHD.

TYPES OF FUNDS
Cash	-	536,679	534,374	461,863	1,219,161
Net Liquid Funds	-	(39,090,949)	(35,795,609)	(22,294,996)	(6,228,378)
Net Liquid Assets	43,382,564	(47,574,757)	(45,760,185)	(29,372,493)	(11,281,854)
Net Current Assets/(Liabilities)	43,382,564	(16,830,694)	(14,514,988)	(7,619,029)	9,079,778
Net Tangible Assets	20,926,382	18,234,699	17,352,198	17,541,782	16,139,269
Net Monetary Assets	(17,343,087)	(49,404,131)	(54,157,877)	(40,796,842)	(21,818,996)
PROFIT & LOSS ITEMS
Earnings Before Interest & Tax (EBIT)	-	5,822,298	1,541,577	2,514,196	2,860,818
Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)	-	5,822,298	1,541,577	2,514,196	2,860,818
BALANCE SHEET ITEMS
Total Borrowings	-	43,822,217	46,617,674	33,356,416	18,587,583
Total Liabilities	60,725,651	64,125,938	69,248,630	59,108,444	45,423,545
Total Assets	81,652,033	82,360,637	86,600,828	76,650,226	61,562,814
Net Assets	20,926,382	18,234,699	17,352,198	17,541,782	16,139,269
Net Assets Backing	20,926,382	18,234,699	17,352,198	17,541,782	16,139,269
Shareholders' Funds	20,926,382	18,234,699	17,352,198	17,541,782	16,139,269
Total Share Capital	15,000,100	15,000,100	15,000,100	15,000,100	15,000,100
Total Reserves	5,926,282	3,234,599	2,352,098	2,541,682	1,139,169
GROWTH RATIOS (Year on Year) (%)
Revenue	(32.82)	70.41	31.82	27.85	42.81
Proft/(Loss) Before Tax	203.19	152.08	(115.47)	(22.97)	94.20
Proft/(Loss) After Tax	(46.88)	565.49	(113.52)	(23.74)	55.37
Total Assets	(0.86)	(4.90)	12.98	24.51	53.73
Total Liabilities	(5.30)	(7.40)	17.16	30.13	11.48
LIQUIDITY (Times)
Cash Ratio	-	0.01	0.01	0.01	0.03
Liquid Ratio	-	0.24	0.25	0.38	0.68
Current Ratio	-	0.73	0.76	0.84	1.26
WORKING CAPITAL CONTROL (Days)
Stock Ratio	-	60	103	95	113
Debtors Ratio	-	26	46	42	50
Creditors Ratio	-	13	10	8	100
SOLVENCY RATIOS (Times)
Gearing Ratio	-	2.40	2.69	1.90	1.15
Liabilities Ratio	2.90	3.52	3.99	3.37	2.81
Times Interest Earned Ratio	-	1.03	0.85	3.38	5.09
Assets Backing Ratio	1.40	1.22	1.16	1.17	1.08
PERFORMANCE RATIO (%)
Operating Profit Margin	0.34	0.08	(0.25)	2.11	3.51
Net Profit Margin	0.37	0.47	(0.17)	1.67	2.81
Return On Net Assets	2.07	31.93	8.88	14.33	17.73
Return On Capital Employed	0.53	23.91	4.92	7.94	10.49
Return On Shareholders' Funds/Equity	2.24	4.84	(1.09)	8.00	11.40
Dividend Pay Out Ratio (Times)	-	0	0	0	0
NOTES TO ACCOUNTS
Contingent Liabilities	-	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
MYR	1	INR 16.59

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	SYL

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)

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