|
|
|
MIRA INFORM REPORT
|
Report No. : |
498615 |
|
Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAXWELL TRADING
LIMITED |
|
|
|
|
Registered Office : |
Unit Level 11 (A), Main Office Tower, Financial
Park Labuan, Jalan Merdeka, 87000 Labuan, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
12.10.2012 |
|
|
|
|
Com. Reg. No.: |
LL09225 |
|
|
|
|
Legal Form : |
Others |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
administration service and offshore trading. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Offshore Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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. |
: |
LL09225 |
|
GST NO. |
: |
N/A |
|
COMPANY NAME |
: |
MAXWELL TRADING LIMITED |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
12/10/2012 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
OTHERS |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
UNIT LEVEL 11 (A), MAIN OFFICE TOWER,
FINANCIAL PARK LABUAN, JALAN MERDEKA, 87000 LABUAN, WILAYAH PERSEKUTUAN,
MALAYSIA. |
|
BUSINESS ADDRESS |
: |
N/A |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
N/A |
|
INDUSTRY CODE |
: |
82 |
|
PRINCIPAL ACTIVITY |
: |
ADMINISTRATION SERVICE AND OFFSHORE TRADING |
|
ISSUED AND PAID UP CAPITAL |
: |
N/A |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
UNKNOWN |
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
N/A |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY / BACKGROUND
|
The Subject is principally engaged in the (as
a / as an) administration service and offshore trading.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
CHARACTERISTICS
OF OFFSHORE COMPANIES
To participate in the offshore activities and enjoy the special tax advantage
provided under the Labuan Offshore Business Activity Tax Act 1990, an entity
must be an offshore company.
An offshore company in Labuan shall have the following characteristics:
(a) It must be a company limited by shares (sec 14(3) of the Offshore Companies
Act 1990);
(b) Any person may form an offshore company by subscribing to a memorandum;
(c) It is required to engage a trust company which is a company registered
under the Labuan Trust Companies Act 1990 to discharge its statutory duties
seince all documents required to be filed with the Labuan Financial Services
Authority must be filed through a trust company;
(d) There is no minimum capital requirement;
(e) It can be alter its share capital by a special resolution (sec. 51(10 of
the Offshore Companies Act 1990);
(f) It can reduce its share capita special resolution (sec.51(10 of the
Offshore Companies Act 1990);
(g) It may purchase its own shares (sec. 48(2)(3) of the Offshore Companies Act
1990); and;
(h) There is no restriction in issuing share warrants.
PROHIBITED ACTIVITES
Offshore companies are prohibited from carrying on the following activities:
(a) the business of banking or insurance or any such similar business unless it
is licensed so to do under the relevant laws currently in force in Malaysia;
(b) it must only carry on business in, from or through Labuan;
(c) it must not:
(1) except as permitted by the Offshore Banking Act 1990 or by the Labuan
Financial Services Authority carry on business with a resident of Malaysia;
(2) except as permitted by the Offshore Banking Act 1990, carry on banking
business;
(3) Except for defraying its administrative and statutory expenses and where
Sec. 147 of the Offshore Companies Act 1990 applies, carry on business in
Malaysian currency;
(4) Except as permitted by the Offshore Insurance Act 1990, carry on business
as an insurance or a reinsurance company;
(5) Carry on shipping or petroleum operations in Malaysia; or
(6) Carry on any business of a trust company.
PERMITTED ACTIVIES
An offshore company may do the following:
(a) Make or maintain deposits with a person carrying on business within
Malaysia;
(b) Make or maintain professional contacts with any counsel and attorney,
accountant, book-keeper, trust company, domestic company wholly owned by a
trust company made available by the trust company to act or be appointed as a
resident director or a resident secretary of an offshore company;
(c) Prepare or maintain books and record with Malaysia;
(d) Hold, within Malaysia, meetings of its directors or members;
(e) Acquire or hold any lease of any property for the purpose of its operation
or as accommodation for its offices or employees; or
(f) Hold shares, debt obligations or other securities for the purposes of a
transaction entered into in the ordinary course of business in connection with
the lending of money.
No shareholders was found in our databank at
the time of investigation
DIRECTOR
|
No director found in our databank.
MANAGEMENT
|
No data found in our databank.
AUDITOR
|
No Auditor found in our databank
COMPANY SECRETARIES
|
No company secretary was found in our databank.
BANKING
|
No Banker found in our databank.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
suppliers.
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Services |
: |
ADMINISTRATION SERVICE AND OFFSHORE TRADING |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) administration service
and offshore trading.
The staff from the registered office refused to disclose the Subject's
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 |
: |
N/A |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
UNIT LEVEL 13 A MAIN OFF TOWER MY 87000
JALAN MEROEKA LABUAN MALAYSIA |
|
Current Address |
: |
N/A |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
NO |
|
|
||
Other Investigations
We were unable to contact the Subject and its Directors.
We have contacted the Subject's registered company AMS Trust Company Limited
and the staff from Subject's registered company only provided limited
information.
The address provided belongs to the Subject's former registered office.
The staff from Subject's registered office refused to disclose the Subject's
number of employees and bankers.
FINANCIAL ANALYSIS
|
|
No latest financial accounts are available
at the Registry Office, thus we are not able to comment on the Subject's
financial performance. |
||||||
|
Overall financial condition of the Subject
: N/A |
||||||
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 |
|
|
82 : OFFICE ADMINISTRATIVE, OFFICE SUPPORT
AND OTHER BUSINESS SUPPORT ACTIVITIES |
|
|
INDUSTRY : |
BUSINESS SERVICES |
|
The services sector is projected to grow by
5.4% in 2016 (2015: 5.7%), increasing its share to 54% of GDP (2015: 53.8%)
with all subsectors continuing to expand. The services sector continues playing
an important role in driving the Malaysia economy. |
|
|
The services sector is projected to grow
5.8% in year 2018, increasing its share to 54.8% of GDP (2017: 5.9%; 54.5%)
with all subsectors continuing to expand. The services sector recorded an
increase of 6.1% during the first half of 2017 (January – June 2016: 5.4%)
driven by improvement in wholesale and retail trade; food & beverages and
accommodation; information and communication; and finance and insurance
subsectors. |
|
|
Value added of services sector increased
further by 6.1% during the first half of 2017 (January – |
|
|
June 2016: 5.4%) mainly driven by strong
domestic consumption activities. In 2017, the sector is expected to record 5.9%
growth, accounting for 54.5% of GDP (2016: 5.6%; 54.3%). The final services
group is projected to sustain at 6% (2016: 6%) led by the wholesale and
retail trade as well as the food & beverages and accommodation
subsectors. The intermediate services group is anticipated to grow 6.4%
(2016: 5.5%) supported by the information and communication as well as
finance and insurance subsectors. Meanwhile, government services subsector is
expected to increase 4.4% (2016: 4.9%). |
|
|
The wholesale and retail trade subsector
recorded a stronger growth of 7% (January – June 2016: 5.9%) supported by
higher consumer spending. The retail segment increased 9.6% (January – June
2016: 6.3%) driven by sales in non-specialised stores and other goods in
specialised stores which recorded double-digit growth of 12.5% and 13.3%,
respectively (January – June 2016: 8.3%; 8.4%). The wholesale segment grew
5.8% (January – June 2016: 8.4%) led by other specialised wholesale (9.7%),
household goods (5.2%) as well as food, beverages and tobacco which rose 9.2%
(January – June 2016: 3.4%; 6.6%; 8.1%). Meanwhile, the motor vehicle segment
rebounded 2.2% (January – June 2016: -3.9%) following the introduction of new
car models and rebates on a wide range of earlier models. This was reflected
in sales of motor vehicles which turned around 2.2% to RM39.6 billion, while
parts and accessories increased 5.4% to RM16.9 billion (January – June 2016:
-7.1%; RM38.8 billion; 2.2%; RM16 billion). In 2017, the subsector is
expected to expand further by 6.5%(2016: 6.2%). |
|
|
The food & beverages and accommodation
subsector increased 7.2% (January – June 2016: 6.6%). The food &
beverages segment expanded 7.9% (January – June 2016: 7.4%) driven by
increased spending on dining at restaurants. Meanwhile, the accommodation
segment grew 4.8% (January – June 2016: 4%) mainly supported by domestic
tourism activities, opening of new budget hotels and aggressive online
promotions. Tourist arrivals contracted 1.5% during the first eight months of
2017 (January – August 2016: 3.8%). Nevertheless, the introduction of new
direct flights to the country as well as the hosting of the ASEAN Para Games,
Formula 1 Petronas Malaysia Grand Prix and Shell Malaysia Motorcycle Grand
Prix are expected to support growth of the segment. For the year, the
subsector is projected to grow 7.6% (2016: 7.1%). |
|
|
The information and communication subsector
recorded a strong growth of 8.3% (January – June 2016: 8.6%). The communication
segment remained as the major contributor to growth, sustaining its pace at
9.3% (January – June 2016: 9.8%) following aggressive promotional activities
by telecommunication companies and introduction of new telephone models.
Meanwhile, information segment grew 5.7% (January – June 2016: 3.6%) and
computer services rose 6.4% (January – June 2016: 7%). The subsector is
expected to sustain its strong growth momentum expanding 8.5% in 2017 (2016:
8.1%) supported by the launching of latest smartphone models, price
reductions on earlier premium models and an increase in subscriptions to
value added services offered by telecommunication companies. |
|
|
The finance and insurance subsector
expanded further by 4.3% (January – June 2016: 0.8%) led by financing
activities. The finance segment increased strongly by 4.8% on account of
higher growth in FISIM;1 and interest and fee-based incomes (January – June
2016: 0.02%). The insurance segment grew at a slower pace of 2.8% (January –
June 2016: 3.4%) following moderate premium income. In 2017, the subsector is
expected to grow 4.2% (2016: 2.5%). |
|
|
The real estate and business services
subsector increased 7.3% (January – June 2016: 6.7%). The business services
segment recorded a growth of 8.4% (January – June 2016: 7.7%). Growth was
driven by sustained demand for professional services, particularly
engineering services in the construction sector, and legal and accounting
services. Meanwhile, the real estate segment expanded 4.9% (January – June
2016: 4.6%). Growth was partly due to strong performance in the construction
sector, incentives and rebates offered by developers, increase in civil
servants’ housing loan eligibility and flexibility in purchasing homes under
1Malaysia Civil Servants Housing (PPA1M) scheme. For the whole year, the
subsector is anticipated to increase 7.2% (2016: 6.9%). |
|
|
The utilities subsector increased at a
slower pace of 2.2% (January – June 2016: 6.1%) due to lower demand from households
following the waning effect of El Niño. The electricity and gas segment
moderated 1.2% (January – June 2016: 5.8%). |
|
|
The other services subsector increased 5.3%
(January – June 2016: 4.6%) with private education and health expanding 6.5%
and 5.4%, respectively (January – June 2016: 6.7%; 5.6%). As at end-July
2017, there were 495 private higher education institutions nationwide
(end-July 2016: 496), comprising 10 foreign university branch campuses, 53
private universities and 35 university colleges as well as 397 private
colleges. Meanwhile, the number of healthcare travellers in private hospitals
recorded 494,326 (January – June 2016: 460,338) with patients from Indonesia
constituting 55.5% or 274,244 of total healthcare travellers. For the year,
the subsector is expected to expand 5.3% (2016: 4.8%) supported by strong
demand for private education as well as high-quality and affordable
healthcare services. Meanwhile, the government services subsector grew 4.8%
(January – June 2016: 5.2%) supported by expenditure in emoluments. In 2017,
the subsector is projected to increase 4.4% (2016: 4.9%). |
|
|
The services sector remained the primary
driver of the economy and leading generator of job opportunities, accounting for
54.3% of GDP, 17.6% of the country’s total exports of goods and services and
provided 8.8 million employment. |
|
|
To sustain the role of the services sector
as the key driver of growth, the Government will accelerate the
implementation of the Services Sector Blueprint, and the Logistics and Trade
Facilitation Masterplan. Within the services sector, the Government’s
emphasis is on the development of tourism, including medical tourism,
logistics and venture capital industries. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
FINANCIAL ACCOUNT
|
No latest financial accounts are available at the Registry Office.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
|
MYR |
1 |
INR 16.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.