|
|
|
MIRA INFORM REPORT
|
Report No. : |
498003 |
|
Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DEXION ASIA SDN.
BHD. |
|
|
|
|
Formerly Known As : |
DEXION SOUTH
ASIA SDN. BHD. (14/07/2005)
|
|
|
|
|
Registered Office : |
6-3, Jalan 3/64A, Udarama Complex, Off
Jalan Ipoh, 50350 Kuala Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
30.06.2016 |
|
|
|
|
Date of Incorporation : |
14.10.1996 |
|
|
|
|
Com. Reg. No.: |
405865-U |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacturing and trading of storage and material handling systems. |
|
|
|
|
No. of Employees : |
150 [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 |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Status : |
Satisfactory |
|
|
|
|
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. |
: |
405865-U |
||||
|
GST NO. |
: |
001840463872 |
||||
|
COMPANY NAME |
: |
DEXION ASIA SDN. BHD. |
||||
|
FORMER NAME |
: |
DEXION SOUTH
ASIA SDN. BHD. (14/07/2005) |
||||
|
INCORPORATION DATE |
: |
14/10/1996 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
6-3, JALAN 3/64A, UDARAMA COMPLEX, OFF
JALAN IPOH, 50350 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
MR2-01-01, SRI ACAPPELLA COMMERCIAL ANNEX, JALAN
LOMPAT TINGGI 13/33, SECTION 13, 40100 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-55206000 |
||||
|
FAX.NO. |
: |
03-55111699 |
||||
|
WEB SITE |
: |
WWW.DEXION.BIZ |
||||
|
CONTACT PERSON |
: |
DAMIAN GAVIN CROSS ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
24109 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING AND TRADING OF STORAGE AND
MATERIAL HANDLING SYSTEMS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 25,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 2,500,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 148,475,086 [2016] |
||||
|
NET WORTH |
: |
MYR 19,344,474 [2016] |
||||
|
STAFF STRENGTH |
: |
150 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
SLOW BUT CORRECT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The subject is principally engaged in the (as
a / as an) manufacturing and trading of storage and material handling systems.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
The immediate holding company of the Subject
is DEXION (AUSTRALIA) PTY LTD., a company incorporated in AUSTRALIA.
The ultimate holding company of the Subject
is GUD HOLDINGS LTD, a company incorporated in AUSTRALIA.
Former Address(es)
|
Address |
As At Date |
|
4-3, JALAN 3/64A, UDARAMA COMPLEX, OFF
JALAN IPOH, 50350, WILAYAH PERSEKUTUAN, MALAYSIA |
14/12/2012 |
|
9,JLN JURUANALISIS U1/35A, SEC.U1,HICOM
GLENMARIE IND.PARK, S.ALAM, 40150, SELANGOR, MALAYSIA |
15/02/2013 |
|
NO.10, FIRST FLOOR, JALAN ASTAKA U8/U82,
SECTION.U8, BUKIT JELUTONG, 40150, SELANGOR, MALAYSIA |
15/02/2013 |
|
SUITE 9.05, LEVEL 9, WISMA INAI, 241, JALAN
TUN RAZAK, 50400, WILAYAH PERSEKUTUAN, MALAYSIA |
21/01/1998 |
|
44A, JALAN MERGASTUA, KEPONG BARU, 52100,
WILAYAH PERSEKUTUAN, MALAYSIA |
21/11/1996 |
|
6-2, JALAN 3/64A, UDARAMA COMPLEX, OFF JALAN
IPOH, 50350, WILAYAH PERSEKUTUAN, MALAYSIA |
29/06/2006 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
28/08/2015 |
MYR 25,000,000.00 |
MYR 2,500,000.00 |
|
15/03/2004 |
MYR 5,000,000.00 |
MYR 2,500,000.00 |
|
13/02/1997 |
MYR 5,000,000.00 |
MYR 1,500,000.00 |
|
20/12/1996 |
MYR 100,000.00 |
MYR 1,000.00 |
|
14/10/1996 |
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 |
(%) |
|
DEXION (AUSTRALIA) PTY LTD. |
TATTERSALL ROAD, BLACKTOWN, NSW 2148
AUSTRALIA |
ACN83000083956 |
2,500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
1075001P |
MALAYSIA |
INTELLIGENT RACKING SDN. BHD. |
Winding-Up |
90.00 |
22/08/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. DAMIAN GAVIN CROSS |
|
Address |
: |
48, ELITIS TIRAI RIMBA, VALENCIA, 47000
SUNGAI BULOH, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
518046305 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
06/08/2015 |
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 |
405865U |
DEXION ASIA SDN. BHD. |
Director |
06/08/2015 |
0.00 |
- |
MYR(2,428,996.00) |
2016 |
- |
23/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
KHURSHED BURJOR MIRZA |
|
Address |
: |
18, DURREL WAY, CAROLINE SPRINGS, VICTORIA
3023, AUSTRALIA. |
|
IC / PP No |
: |
PE0373355 |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
31/05/2017 |
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 |
405865U |
DEXION ASIA SDN. BHD. |
Director |
31/05/2017 |
0.00 |
- |
MYR(2,428,996.00) |
2016 |
- |
23/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
TAN HOCK SENG |
|
Address |
: |
506, HUANG PI NAN ROAD, BLOCK 2, UNIT
11-03, SHANGHAI, CHINA. |
|
IC / PP No |
: |
E5480470K |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/05/2017 |
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 |
405865U |
DEXION ASIA SDN. BHD. |
Director |
31/05/2017 |
0.00 |
- |
MYR(2,428,996.00) |
2016 |
- |
23/02/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
TREFOR CLAYTON |
LEVEL 2,30-34 WILSON STREET, NEWTOWN
SYDNEY, NSW 2042 |
M7764082 |
07/01/2002 |
28/09/2010 |
|
ROGER JAMES WODSON |
13 CROFTON DRIVE, WILLIAMSTOWN, VICTORIA 3016,
AUSTRALIA |
M5296390 |
28/09/2010 |
31/12/2011 |
|
TAN WAN KIONG |
NO 2A, JALAN INDAH 3, TAMAN SETIA BATU
BELAH, OFF JALAN SG. PUTUS, KLANG, SELANGOR, MALAYSIA |
620529-10-5273 |
21/11/1996 |
13/12/1999 |
|
SU-MING WONG |
111 WINDSOR STREET, PADDINGTON,NSW 2021,
AUSTRALIA. |
L3793564 |
01/09/2003 |
17/03/2005 |
|
ROGER BARTHOLOMEW GRIBBLE |
5 FERRY STREET, HUNTERS HILL, NEW SOUTH
WALES, AUSTRALIA, KUALA TERENGGANU, TERENGGANU, MALAYSIA |
E7013183 |
13/08/1999 |
20/11/2001 |
|
PHILIP KOH KOK KHENG |
47,JEDBURGH GARDENS, SINGAPORE 457109 |
1175330B |
13/08/1999 |
08/11/1999 |
|
PETER FARMAKIS |
27, VALE STREET, GORDON, 2072 NSW,
AUSTRALIA, AUSTRALIA, MALAYSIA |
M6675395 |
07/05/2007 |
01/08/2013 |
|
ONG PHAIK CHOO |
15 USJ 14/1B, UEP SUBANG JAYA, SUBANG JAYA,
SELANGOR, MALAYSIA |
520515-07-5394 |
23/07/2001 |
05/05/2008 |
|
LOKE PAK CHEONG |
72,JALAN USJ 11/3N, UEP SUBANG JAYA, SUBANG
JAYA,SEL, SUBANG JAYA, SELANGOR, MALAYSIA |
590809-10-6487 |
09/07/1999 |
25/11/2008 |
|
LOH KUAN CHWEEN |
1, JALAN KIARA SD 11/7B,, BANDAR SRI
DAMANSARA,, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
710210-08-5441 |
14/10/1996 |
22/11/1996 |
|
KUN YOKE LIN |
12,JALAN SENTOSA 49, KAW.19, RANTAU
PANJANG., KLANG, SELANGOR, MALAYSIA |
511123-08-5513 |
13/12/1999 |
23/07/2001 |
|
JEFFREY JOHN LAIDLAW |
10 BOXBOROUGH AVENUE, BEXLEY NSW 2207,
AUSTRALIA |
M1636056 |
07/01/2002 |
04/05/2007 |
|
GAN GIOK LEE |
LOT 1711,BATU 2 1/2, KAMPUNG SRI CHEEDING,
BANTING, SELANGOR, MALAYSIA |
660526-10-6250 |
21/11/1996 |
09/07/1999 |
|
IAN ALISTAIR CAMPBELL |
14, FELLOWS ROAD, POINT LONSDALE, VICTORIA
3225, AUSTRALIA |
E3027524 |
28/09/2010 |
01/08/2013 |
|
FRANK GORDON JOHNSTONE |
LOT 10, IOI RESORT, SELANGOR |
761286651 |
04/04/2005 |
30/06/2011 |
|
CHUNG LEE HAH |
A1-06 PANGSAPURI PUTERI KESIDANG, LORONG
PANDAN, MELAKA, MELAKA, MALAYSIA |
641106-04-5160 |
14/10/1996 |
22/11/1996 |
|
CHEW KHERK WENG |
NO. 10, JALAN BU 1/11, BANDAR UTAMA,
PETALING JAYA, SELANGOR, MALAYSIA |
620325-08-6349 |
25/11/2008 |
05/10/2010 |
|
BRENTON SQUIRES FULLER |
21,BERRILLEE STREET, TURRAMURRA NSW 2074 |
E1023035 |
13/08/1999 |
16/03/2007 |
|
TREVOR CRAIG WOODS |
8 SMITH ROAD, ARTARMON NSW, AUSTRALIA 2064 |
E7517998 |
13/08/1999 |
28/01/2000 |
|
STUART JAMES MACNAB |
NO. 2324, LORONG HILLVIEW 3A, TAMAN
HILLVIEW, AMPANG, SELANGOR, MALAYSIA |
E4098663 |
07/03/2011 |
18/11/2016 |
|
MARTIN ANDREW FRASER |
1, FIFTH STREET, BLACK ROCK VICTORIA 3193,
AUSTRALIA |
E4067983 |
01/01/2012 |
31/05/2017 |
|
PAUL EMMETT O\'KEEFE |
395, PUNT ROAD, CREMORNE VICTORIA,
AUSTRALIA 3121 |
M7308659 |
20/11/2014 |
26/11/2015 |
|
TIMOTHY CHARLES RICHARDS |
34, TRAFALGAR AVENUE, ROSEVILLE NSW,
AUSTRALIA 2069 |
M6165913 |
26/11/2015 |
31/05/2017 |
|
JEREMY AUSTIN BRADNAM |
NO. 11, JALAN SETIA DUTA U13/21, SETIA
ECOPARK, SHAH ALAM, SELANGOR, MALAYSIA |
510621052 |
18/11/2016 |
31/03/2017 |
|
JOHN GEORGE ALLAN MUNRO |
NO. 91, CASAMAN, JALAN CANGKAT INITSARI,
DESA PARK CITY, KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
529248912 |
31/03/2017 |
11/10/2017 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DAMIAN GAVIN CROSS |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG PLT |
|
Auditor' Address |
: |
LEVEL 10, KPMG TOWER, 8 FIRST AVENUE,
BANDAR UTAMA, 47800 PETALING JAYA, SELANGOR, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. TAN LI LIN |
|
IC / PP No |
: |
A0246287 |
|
|
New IC No |
: |
651014-08-6052 |
|
|
Address |
: |
21, JALAN SS 22/40, DAMANSARA JAYA, 47400
PETALING JAYA, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
2) |
Name |
: |
AMBANK (M) BHD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
CRIMINAL RECORDS CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No criminal record was found in our databank.
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
PLAINTIFF
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
CRIMINAL RECORDS CHECK - SUBJECT COMPANY AS A
PLAINTIFF
|
* A check has been conducted in our databank againt the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been listed by our customers and debtors that
have been placed or assigned to us for collection.
No defaulter record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
WORLDWIDE |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Product Brand Name |
: |
|
|
|
Member(s) / Affiliate(s) |
: |
MALAYSIAN IRON AND STEEL INDUSTRY
FEDERATION (MISIF) MALAYSIA LOGISTICS INDUSTRY |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2013 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
150 |
150 |
150 |
150 |
100 |
||||
|
Branch |
: |
YES |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing and
trading of storage and material handling systems.
The Subject provides total nation-wide customer support and service from
design, manufacture, supply, installation, commissioning and after sales
service in two distinct business sections:
1) Industrial Storage
2) Material Handling Office Storage and Filing
The Subject staffed had experienced, qualified professionals, including sales,
design, and project engineers to provide the most economical and optimum
solution to its customer's storage and materials handling problems and
requirements.
The Subject has 2 divisions as follows:
1) Commercial
2) Industrial
The commercial division handles storage and material handling for office use
and the industrial division handles storage and materials handling equipment
and machinery for warehouses and factories.
RECENT DEVELOPMENT
|
We have checked with the Malaysian National News Agency's (BERNAMA) database,
but no recent development was noted during the time of inspection.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-55206000 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
MR2-01-01 SRI ACAPPELLA COMMERCIAL ANNEX, JALAN
LOMPAT TINGGI 13/33, SEKSYEN 13, 40100 SHAH ALAM, SELANGOR DARU EHSAN
MALAYSIA |
|
Current Address |
: |
MR2-01-01, SRI ACAPPELLA COMMERCIAL ANNEX,
JALAN LOMPAT TINGGI 13/33, SECTION 13, 40100 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(12.56%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(5.16%) |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The Subject
incurred losses during the year due to the inefficient control of its
operating costs. The Subject's unfavourable returns on shareholders' funds indicate
the management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
76 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
111 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks. 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 unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.74 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.03 Times |
] |
|
|
A low liquid ratio means that the Subject may
be facing working capital deficiency. If the Subject cannot obtain additional
financing or injection of fresh capital, it may face difficulties in meeting
its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(0.72 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.17 Times |
] |
|
|
The Subject incurred losses in the year. It
did not generate sufficient income to service its interest. If the situation
does not improve, the Subject may be vulnerable to default in servicing the
interest. The Subject was highly geared, thus it had a high financial risk.
The Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's losses increased but its
turnover showed a fluctuating trend. This indicate the Subject was
slowly losing its market share due to its competitors. 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 interest cover was negative,
indicating that it did not generate sufficient income to service its
interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. The Subject's gearing 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 |
|
|
24109 : Manufacture of other basic iron and
steel products n.e.c. |
|
|
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) |
|
DEXION ASIA SDN. BHD. |
|
Financial Year End |
2016-06-30 |
2015-06-30 |
2014-06-30 |
2013-06-30 |
2012-06-30 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
148,475,086 |
176,189,865 |
88,070,069 |
105,437,940 |
96,656,184 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
148,475,086 |
176,189,865 |
88,070,069 |
105,437,940 |
96,656,184 |
|
Costs of Goods Sold |
(133,224,855) |
(158,549,950) |
(78,645,027) |
(92,282,052) |
(84,714,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
15,250,231 |
17,639,915 |
9,425,042 |
13,155,888 |
11,942,184 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(2,382,864) |
6,275,673 |
659,150 |
4,344,182 |
4,007,341 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(2,382,864) |
6,275,673 |
659,150 |
4,344,182 |
4,007,341 |
|
Taxation |
(46,132) |
(1,865,323) |
(295,797) |
(1,353,587) |
(695,101) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(2,428,996) |
4,410,350 |
363,353 |
2,990,595 |
3,312,240 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
19,273,470 |
14,863,120 |
14,499,767 |
11,509,172 |
8,196,932 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,273,470 |
14,863,120 |
14,499,767 |
11,509,172 |
8,196,932 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
16,844,474 |
19,273,470 |
14,863,120 |
14,499,767 |
11,509,172 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
16,844,474 |
19,273,470 |
14,863,120 |
14,499,767 |
11,509,172 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
164 |
- |
482 |
6,453 |
5,411 |
|
Term loan / Borrowing |
1,384,761 |
1,081,567 |
828,342 |
795,713 |
1,094,407 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,384,925 |
1,081,567 |
828,824 |
802,166 |
1,099,818 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,807,243 |
1,208,393 |
1,135,397 |
1,123,517 |
991,771 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
2,807,243 |
1,208,393 |
1,135,397 |
1,123,517 |
991,771 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
DEXION ASIA SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
37,874,121 |
39,775,623 |
29,364,510 |
8,458,268 |
9,476,011 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
37,874,121 |
39,775,623 |
29,364,510 |
8,458,268 |
9,476,011 |
|
CURRENT ASSETS |
|||||
|
Stocks |
19,155,400 |
27,561,497 |
16,260,264 |
17,299,142 |
10,671,690 |
|
Trade debtors |
30,731,580 |
29,766,487 |
28,764,325 |
19,202,573 |
44,948,162 |
|
Other debtors, deposits & prepayments |
4,663,224 |
5,515,115 |
2,510,769 |
4,790,199 |
1,653,085 |
|
Amount due from holding company |
3,749,456 |
8,245,082 |
4,438,806 |
1,014,989 |
1,051,527 |
|
Amount due from related companies |
3,908,956 |
12,013,121 |
3,112,532 |
2,071,157 |
3,317,091 |
|
Cash & bank balances |
4,742,381 |
11,668,329 |
5,028,435 |
8,530,728 |
6,648,401 |
|
Others |
1,000,161 |
1,002,021 |
538,397 |
871,409 |
807,683 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
67,951,158 |
95,771,652 |
60,653,528 |
53,780,197 |
69,097,639 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
105,825,279 |
135,547,275 |
90,018,038 |
62,238,465 |
78,573,650 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
40,614,639 |
56,674,975 |
27,245,797 |
15,370,497 |
19,374,750 |
|
Other creditors & accruals |
3,686,190 |
2,697,593 |
4,431,689 |
3,091,081 |
7,941,908 |
|
Hire purchase & lease creditors |
35,952 |
35,952 |
- |
49,339 |
59,208 |
|
Short term borrowings/Term loans |
2,011,677 |
1,889,241 |
1,603,507 |
- |
865,691 |
|
Other borrowings |
14,987,327 |
17,234,354 |
19,592,884 |
18,012,177 |
19,865,131 |
|
Deposits from customers |
- |
- |
- |
4,874,403 |
11,035,013 |
|
Amounts owing to holding company |
2,688,095 |
2,386,889 |
621,133 |
272,826 |
173,056 |
|
Amounts owing to related companies |
2,254,530 |
10,548,329 |
5,664,206 |
1,455,358 |
2,684,679 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
66,278,410 |
91,467,333 |
59,159,216 |
43,125,681 |
61,999,436 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,672,748 |
4,304,319 |
1,494,312 |
10,654,516 |
7,098,203 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
5,474,515 |
7,030,563 |
5,641,528 |
- |
- |
|
Hire purchase creditors |
32,930 |
68,882 |
- |
- |
49,339 |
|
Deferred taxation |
2,050,000 |
2,150,541 |
1,121,271 |
1,111,719 |
314,691 |
|
Others |
12,644,950 |
12,814,309 |
6,732,903 |
1,001,298 |
2,201,012 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
20,202,395 |
22,064,295 |
13,495,702 |
2,113,017 |
2,565,042 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
19,344,474 |
22,015,647 |
17,363,120 |
16,999,767 |
14,009,172 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
|
RESERVES |
|||||
|
General reserve |
- |
242,177 |
- |
- |
- |
|
Retained profit/(loss) carried forward |
16,844,474 |
19,273,470 |
14,863,120 |
14,499,767 |
11,509,172 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
16,844,474 |
19,515,647 |
14,863,120 |
14,499,767 |
11,509,172 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
19,344,474 |
22,015,647 |
17,363,120 |
16,999,767 |
14,009,172 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
DEXION ASIA SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
4,742,381 |
11,668,329 |
5,028,435 |
8,530,728 |
6,648,401 |
|
Net Liquid Funds |
4,742,381 |
11,668,329 |
5,028,435 |
8,530,728 |
6,648,401 |
|
Net Liquid Assets |
(17,482,652) |
(23,257,178) |
(14,765,952) |
(6,644,626) |
(3,573,487) |
|
Net Current Assets/(Liabilities) |
1,672,748 |
4,304,319 |
1,494,312 |
10,654,516 |
7,098,203 |
|
Net Tangible Assets |
19,344,474 |
22,015,647 |
17,363,120 |
16,999,767 |
14,009,172 |
|
Net Monetary Assets |
(37,685,047) |
(45,321,473) |
(28,261,654) |
(8,757,643) |
(6,138,529) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
(997,939) |
7,357,240 |
1,487,974 |
5,146,348 |
5,107,159 |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
1,809,304 |
8,565,633 |
2,623,371 |
6,269,865 |
6,098,930 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
22,542,401 |
26,258,992 |
26,837,919 |
18,061,516 |
20,839,369 |
|
Total Liabilities |
86,480,805 |
113,531,628 |
72,654,918 |
45,238,698 |
64,564,478 |
|
Total Assets |
105,825,279 |
135,547,275 |
90,018,038 |
62,238,465 |
78,573,650 |
|
Net Assets |
19,344,474 |
22,015,647 |
17,363,120 |
16,999,767 |
14,009,172 |
|
Net Assets Backing |
19,344,474 |
22,015,647 |
17,363,120 |
16,999,767 |
14,009,172 |
|
Shareholders' Funds |
19,344,474 |
22,015,647 |
17,363,120 |
16,999,767 |
14,009,172 |
|
Total Share Capital |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
2,500,000 |
|
Total Reserves |
16,844,474 |
19,515,647 |
14,863,120 |
14,499,767 |
11,509,172 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(15.73) |
100.06 |
(16.47) |
9.09 |
(10.32) |
|
Proft/(Loss) Before Tax |
(137.97) |
852.09 |
(84.83) |
8.41 |
290.79 |
|
Proft/(Loss) After Tax |
(155.07) |
1,113.79 |
(87.85) |
(9.71) |
1,161.61 |
|
Total Assets |
(21.93) |
50.58 |
44.63 |
(20.79) |
32.95 |
|
Total Liabilities |
(23.83) |
56.26 |
60.60 |
(29.93) |
33.39 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.07 |
0.13 |
0.08 |
0.20 |
0.11 |
|
Liquid Ratio |
0.74 |
0.75 |
0.75 |
0.85 |
0.94 |
|
Current Ratio |
1.03 |
1.05 |
1.03 |
1.25 |
1.11 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
47 |
57 |
67 |
60 |
40 |
|
Debtors Ratio |
76 |
62 |
119 |
66 |
170 |
|
Creditors Ratio |
111 |
130 |
126 |
61 |
83 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.17 |
1.19 |
1.55 |
1.06 |
1.49 |
|
Liabilities Ratio |
4.47 |
5.16 |
4.18 |
2.66 |
4.61 |
|
Times Interest Earned Ratio |
(0.72) |
6.80 |
1.80 |
6.42 |
4.64 |
|
Assets Backing Ratio |
7.74 |
8.81 |
6.95 |
6.80 |
5.60 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(1.60) |
3.56 |
0.75 |
4.12 |
4.15 |
|
Net Profit Margin |
(1.64) |
2.50 |
0.41 |
2.84 |
3.43 |
|
Return On Net Assets |
(5.16) |
33.42 |
8.57 |
30.27 |
36.46 |
|
Return On Capital Employed |
(2.52) |
16.68 |
4.82 |
26.86 |
30.70 |
|
Return On Shareholders' Funds/Equity |
(12.56) |
20.03 |
2.09 |
17.59 |
23.64 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
|
MYR |
1 |
INR 16.64 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.