|
|
|
MIRA INFORM REPORT
|
Report No. : |
499547 |
|
Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VIN-FOREST INDUSTRIES SDN. BHD. |
|
|
|
|
Registered Office : |
9-1, Jalan Miri, Off Jalan Raja Bot, 41400 Klang, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
12.12.2007 |
|
|
|
|
Com. Reg. No.: |
799225-D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the manufacturing of solid timber door, hdf molded door, timber frame and other related timber products. |
|
|
|
|
No. of Employees : |
Not available |
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 : |
No Complaints |
|
|
|
|
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. |
: |
799225-D |
||||
|
GST NO. |
: |
001334411264 |
||||
|
COMPANY NAME |
: |
VIN-FOREST INDUSTRIES SDN. BHD. |
||||
|
FORMER NAME |
: |
OPINION SUCCESS SDN BHD (22/02/2008) |
||||
|
INCORPORATION DATE |
: |
12/12/2007 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
9-1, JALAN MIRI, OFF JALAN RAJA BOT, 41400 KLANG, SELANGOR,
MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 11928, JALAN PERAJURIT 1, TELOK GONG, 42000 PELABUHAN
KLANG, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-31341888 |
||||
|
FAX.NO. |
: |
03-31341760 |
||||
|
CONTACT PERSON |
: |
SANTHANASAMY A/L RAJU ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
16292 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF SOLID TIMBER DOOR, HDF MOLDED DOOR,
TIMBER FRAME AND OTHER RELATED TIMBER PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 1,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 38,244,294 [2016] |
||||
|
NET WORTH |
: |
MYR 6,752,939 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
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 of solid timber door, hdf molded door, timber frame and other related timber products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is LOTUS BRIDGE SDN. BHD., a company incorporated in MALAYSIA.
The ultimate holding company of the Subject is FINE MOVE INVESTMENTS LIMITED, a company incorporated in VIRGIN ISLANDS, BRITISH.
Former Address(es)
|
Address |
As At Date |
|
14-1, PERSIARAN 65C, PEKELILING BUSINESS CENTRE, JALAN PAHANG BARAT,
OFF JALAN TUN RAZAK, 53000, WILAYAH PERSEKUTUAN, MALAYSIA |
11/02/2008 |
|
15C, LORONG RAJA BOT, 41400, SELANGOR, MALAYSIA |
31/08/2015 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
21/07/2008 |
MYR 1,000,000.00 |
MYR 1,000,000.00 |
|
12/12/2007 |
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 |
(%) |
|
MS. NORHAYATI BINTI MD. SHARIFF + |
14, LOT 1117, JALAN HJ. TAHIR, BT 3 1/2, KAMPUNG PENDAMAR, 41200
KLANG, SELANGOR, MALAYSIA. |
611007-10-5546 6312169 |
1.00 |
0.00 |
|
MR. SANTHANASAMY A/L RAJU + |
60, LORONG PALAS, TAMAN SELATAN, 41200 KLANG, SELANGOR, MALAYSIA. |
630926-07-5855 7165999 |
1.00 |
0.00 |
|
LOTUS BRIDGE SDN. BHD. |
LEVEL 12, EAST WING, BERJAYA TIMES SQUARE, 1, JALAN IMBI, 55100 KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
806204U |
999,998.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
NORAINI BINTI ABDULLAH |
N/A |
670201-08-5358 |
N/A |
N/A |
|
ZAINUDIN BIN KOMING |
N/A |
610406-04-5275 |
N/A |
N/A |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. CHAN KOK CHIN |
|
Address |
: |
15, LORONG SENTOSA 8, TAMAN CHI LIUNG, PANDAMARAN, 42000 PELABUHAN
KLANG, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
NO. 34, JALAN BUNGOR 5, BANDAR BOTANIC, 41200 KLANG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A0957492 |
|
New IC No |
: |
680427-10-5031 |
|
Date of Birth |
: |
27/04/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/07/2010 |
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 |
501534P |
AMIGATECH SDN. BHD. |
Director |
02/10/2007 |
143,000.00 |
28.60 |
MYR(221,640.00) |
2015 |
- |
23/02/2018 |
|
2 |
773090K |
AMVT CORPORATION SDN. BHD. |
Director |
14/05/2007 |
1.00 |
50.00 |
MYR11,873.00 |
2016 |
- |
23/02/2018 |
|
3 |
1052772M |
BRIGHTSTAR INDUSTRY SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
MYR(131,212.00) |
2016 |
- |
23/02/2018 |
|
4 |
272615H |
BUNGA KLASIK SDN. BHD. |
Director |
21/08/2006 |
1.00 |
50.00 |
MYR(3,689.00) |
2016 |
- |
23/02/2018 |
|
5 |
63676A |
FIRHAD SDN. BHD. |
Shareholder |
- |
30,000.00 |
30.00 |
N/A |
1991 |
- |
23/02/2018 |
|
6 |
687939K |
JEJAK PRESTIJ SDN. BHD. |
Director |
28/08/2006 |
162,501.00 |
50.00 |
MYR(5,742.00) |
2016 |
- |
23/02/2018 |
|
7 |
776511U |
KIBARAN INDAH SDN. BHD. |
Shareholder |
- |
1.00 |
50.00 |
- |
2016 |
- |
23/02/2018 |
|
8 |
806204U |
LOTUS BRIDGE SDN. BHD. |
Director |
25/03/2008 |
490,000.00 |
49.00 |
MYR872,039.00 |
2016 |
- |
23/02/2018 |
|
9 |
1141225M |
MEGA TOP SECURITY DOOR SDN. BHD. |
Director |
21/04/2015 |
25.00 |
25.00 |
MYR(180,134.00) |
2016 |
- |
23/02/2018 |
|
10 |
807554M |
MM DOORS SDN. BHD. |
Director |
05/06/2012 |
247,500.00 |
99.00 |
MYR183,819.00 |
2016 |
- |
23/02/2018 |
|
11 |
808828D |
MM TIMBER PRODUCTS SDN. BHD. |
Director |
27/09/2012 |
175,001.00 |
70.00 |
MYR102,798.00 |
2016 |
- |
23/02/2018 |
|
12 |
831681X |
OM SECURITY DOOR SDN. BHD. |
Director |
18/09/2009 |
0.00 |
- |
MYR133,385.00 |
2016 |
- |
23/02/2018 |
|
13 |
860007D |
PENTAGON LINE SDN. BHD. |
Director |
03/12/2012 |
25,500.00 |
51.00 |
MYR(5,298.00) |
2016 |
- |
23/02/2018 |
|
14 |
199492W |
PERKAYUAN T.M. (MALAYSIA) SDN. BHD. |
Director |
27/04/2006 |
0.00 |
- |
MYR6,333,320.00 |
2016 |
- |
23/02/2018 |
|
15 |
870138T |
PRINSIP ASPIRASI SDN. BHD. |
Director |
02/04/2010 |
2.00 |
2.00 |
MYR(3,435.00) |
2015 |
- |
23/02/2018 |
|
16 |
869498A |
PRINSIP UNTUNG SDN. BHD. |
Director |
02/04/2010 |
99.00 |
99.00 |
MYR(432.00) |
2016 |
- |
23/02/2018 |
|
17 |
879485T |
TANGKAS SEJATI SDN. BHD. |
Director |
18/01/2010 |
1.00 |
50.00 |
MYR(7,355.00) |
2016 |
- |
23/02/2018 |
|
18 |
1108725P |
TOP SCORE PROPERTY SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
MYR(26,659.00) |
2016 |
- |
23/02/2018 |
|
19 |
1004981M |
ULTIMATE CODE SDN. BHD. |
Director |
02/07/2012 |
1.00 |
50.00 |
MYR(3,625.00) |
2016 |
- |
23/02/2018 |
|
20 |
706178W |
ULTIMATE SMART SDN. BHD. |
Director |
27/06/2007 |
1.00 |
50.00 |
MYR(8,644.00) |
2016 |
- |
23/02/2018 |
|
21 |
1077252M |
UPWARDS VINTAGE SDN. BHD. |
Director |
25/07/2016 |
4,960.00 |
49.60 |
MYR(13,140.00) |
2016 |
- |
23/02/2018 |
|
22 |
799225D |
VIN-FOREST INDUSTRIES SDN. BHD. |
Director |
27/07/2010 |
0.00 |
- |
MYR898,451.00 |
2016 |
- |
23/02/2018 |
|
23 |
1176882H |
VIN-FOREST PRODUCTS SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
- |
2016 |
- |
23/02/2018 |
|
24 |
1103008M |
VIN-FOREST RESOURCES SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
MYR(78,892.00) |
2016 |
- |
23/02/2018 |
|
25 |
873056X |
VISI AMAN SDN. BHD. |
Director |
02/04/2010 |
99.00 |
99.00 |
MYR13,047.00 |
2016 |
- |
23/02/2018 |
|
26 |
786878A |
WEALTHY OCEAN SDN. BHD. |
Director |
12/09/2007 |
67,500.00 |
22.50 |
MYR(25,878.00) |
2016 |
- |
23/02/2018 |
|
27 |
822630K |
WILL VENTURE SDN. BHD. |
Director |
29/11/2012 |
1.00 |
50.00 |
MYR6,311,871.00 |
2016 |
- |
23/02/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
195285D |
B.I.G. INDUSTRIES BERHAD |
Director |
18/11/1998 |
30/04/1999 |
- |
- |
|
2 |
661829D |
BUKIT VOR MANAGEMENT SERVICES SDN. BHD. |
Shareholder |
- |
- |
- |
- |
|
3 |
63676A |
FIRHAD SDN. BHD. |
Director |
28/02/1998 |
01/10/1998 |
- |
- |
|
4 |
822677V |
GRADE SUNRISE SDN. BHD. |
Director |
27/06/2008 |
02/03/2009 |
- |
- |
|
5 |
334862U |
IRAS HARAPAN SDN. BHD. |
Shareholder |
- |
- |
2701000.00 |
- |
|
6 |
454859P |
IRASEDAR SDN. BHD. |
Shareholder |
- |
- |
100000.00 |
- |
|
7 |
776511U |
KIBARAN INDAH SDN. BHD. |
Director |
21/08/2007 |
20/03/2009 |
- |
- |
|
8 |
67723K |
MALAYSIAN WOOD MOULDING AND JOINERY COUNCIL |
Director |
16/12/2010 |
22/06/2015 |
- |
- |
|
9 |
376756V |
MARISTANA SDN. BHD. |
Director |
21/02/1998 |
26/08/1998 |
- |
- |
|
10 |
45171W |
MASTER PERKASA (M) SDN. BHD. |
Shareholder |
- |
- |
13.00 |
- |
|
11 |
987477W |
MIGHTY SETUP SDN. BHD. |
Director |
14/05/2012 |
23/07/2012 |
- |
- |
|
12 |
785340U |
MULTI STANDARD SDN. BHD. |
Director |
19/09/2007 |
19/03/2008 |
- |
- |
|
13 |
462132U |
NK LINTAS SDN. BHD. |
Director |
15/05/1998 |
28/10/2000 |
- |
- |
|
14 |
262679M |
PRESTASI WIRA SDN. BHD. |
Director |
06/12/1997 |
27/12/1997 |
- |
- |
|
15 |
376758A |
PRISTANA PROJECT MANAGEMENT SDN. BHD. |
Director |
21/02/1998 |
24/08/1998 |
- |
- |
|
16 |
470820A |
PRISTINE GREEN ENERGY SDN. BHD. |
Shareholder |
- |
- |
2.00 |
- |
|
17 |
162900K |
SERISTANA SDN. BHD. |
Director |
02/01/1998 |
11/07/2000 |
- |
- |
|
18 |
844097A |
STAR ADVANCEMENT SDN. BHD. |
Director |
02/10/2009 |
16/12/2010 |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MS. NORHAYATI BINTI MD. SHARIFF |
|
Address |
: |
14, LOT 1117, JALAN HJ. TAHIR, BT 3 1/2, KAMPUNG PENDAMAR, 41200
KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
6312169 |
|
New IC No |
: |
611007-10-5546 |
|
Date of Birth |
: |
07/10/1961 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/02/2008 |
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 |
1052772M |
BRIGHTSTAR INDUSTRY SDN. BHD. |
Director |
12/09/2013 |
1.00 |
50.00 |
MYR(131,212.00) |
2016 |
- |
23/02/2018 |
|
2 |
809172A |
FENG SHUI DOOR SDN. BHD. |
Director |
07/03/2008 |
1.00 |
50.00 |
- |
2016 |
- |
23/02/2018 |
|
3 |
1079826M |
TIMELESS PARAMOUNT SDN. BHD. |
Director |
21/02/2014 |
1.00 |
50.00 |
MYR(2,012.00) |
2016 |
- |
23/02/2018 |
|
4 |
1108725P |
TOP SCORE PROPERTY SDN. BHD. |
Director |
24/09/2014 |
1.00 |
50.00 |
MYR(26,659.00) |
2016 |
- |
23/02/2018 |
|
5 |
782876D |
VIN-DOOR INDUSTRIES SDN. BHD. |
Director |
15/09/2008 |
1.00 |
50.00 |
MYR(94,896.00) |
2016 |
- |
23/02/2018 |
|
6 |
799225D |
VIN-FOREST INDUSTRIES SDN. BHD. |
Director |
12/02/2008 |
1.00 |
0.00010 |
MYR898,451.00 |
2016 |
- |
23/02/2018 |
|
7 |
1176882H |
VIN-FOREST PRODUCTS SDN. BHD. |
Director |
24/02/2016 |
1.00 |
50.00 |
- |
2016 |
- |
23/02/2018 |
|
8 |
1103008M |
VIN-FOREST RESOURCES SDN. BHD. |
Director |
25/07/2014 |
1.00 |
50.00 |
MYR(78,892.00) |
2016 |
- |
23/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. SANTHANASAMY A/L RAJU |
|
Address |
: |
60, LORONG PALAS, TAMAN SELATAN, 41200 KLANG, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
7165999 |
|
New IC No |
: |
630926-07-5855 |
|
Date of Birth |
: |
26/09/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
12/02/2008 |
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 |
1052772M |
BRIGHTSTAR INDUSTRY SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
MYR(131,212.00) |
2016 |
- |
23/02/2018 |
|
2 |
809172A |
FENG SHUI DOOR SDN. BHD. |
Director |
07/03/2008 |
1.00 |
50.00 |
- |
2016 |
- |
23/02/2018 |
|
3 |
1108725P |
TOP SCORE PROPERTY SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
MYR(26,659.00) |
2016 |
- |
23/02/2018 |
|
4 |
782876D |
VIN-DOOR INDUSTRIES SDN. BHD. |
Director |
15/09/2008 |
1.00 |
50.00 |
MYR(94,896.00) |
2016 |
- |
23/02/2018 |
|
5 |
799225D |
VIN-FOREST INDUSTRIES SDN. BHD. |
Director |
12/02/2008 |
1.00 |
0.00010 |
MYR898,451.00 |
2016 |
- |
23/02/2018 |
|
6 |
1176882H |
VIN-FOREST PRODUCTS SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
- |
2016 |
- |
23/02/2018 |
|
7 |
1103008M |
VIN-FOREST RESOURCES SDN. BHD. |
Director |
27/01/2017 |
0.00 |
- |
MYR(78,892.00) |
2016 |
- |
23/02/2018 |
FORMER
DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
NORAINI BINTI ABDULLAH |
670201-08-5358 |
12/12/2007 |
12/02/2008 |
|
|
ZAINUDIN BIN KOMING |
274-3, BLOK 2, FLAT SRI LABUAN, BANDAR.TUN RAZAK, CHERAS, KUALA LUMPUR,
WILAYAH PERSEKUTUAN |
610406-04-5275 |
12/12/2007 |
12/02/2008 |
Note : The above information was generated from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SANTHANASAMY A/L RAJU |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
KCSM |
|
Auditor' Address |
: |
9-G, JALAN PJU 1A/41B, PUSAT DAGANGAN NZX, ARA JAYA, 47301 PETALING
JAYA, SELANGOR, MALAYSIA. |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. LEE CHEE BENG |
|
IC / PP No |
: |
7005981 |
|
|
New IC No |
: |
630329-10-7863 |
|
|
Address |
: |
52, JALAN JENARIS 6, BANDAR BOTANIC, 41200 KLANG, SELANGOR, 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 |
25/05/2015 |
1ST PARTY CHARGE |
PUBLIC BANK BERHAD |
- |
Unsatisfied |
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
CRIMINAL
RECORDS CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of the
wound up companies in Malaysia.
No criminal record was found in our databank.
CIVIL
LITIGATION CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
CRIMINAL
RECORDS CHECK - SUBJECT COMPANY AS A PLAINTIFF
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No plaintiff record was found in our databank.
DEFAULTER CHECK
AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been listed by our customers and debtors that
have been placed or assigned to us for collection.
No defaulter record & debt collection case was found in our defaulters'
databank.
PAYMENT
RECORD
|
|
|||||
|
SOURCES OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Overseas |
: |
NO |
Percentage |
: |
0% |
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 |
: |
AUSTRALIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of solid
timber door, hdf molded door, timber frame and other related timber products.
The Subject is a manufacturer & exporter of solid timber door, HDF Molded
door, timber frame, timber molding & dealing in sawn timber export.
The factory premises, measuring about 5600 square meter has an installed
capacity of 20000 pieces of skin door & 5000 pcs of solid timber door.
The Subject utilizes advanced machinery at its factory to ensure production of
high quality products.
Besides that the Subject also has a warehouse located at the same premises to
keep stocks and materials.
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 |
: |
603-3134-1888 |
|
Current Telephone Number |
: |
03-31341888 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
LOT 11928 JALAN PERAJURIT 1, TELOK GONG, PORT KLANG, SELANGOR |
|
Current Address |
: |
LOT 11928, JALAN PERAJURIT 1, TELOK GONG, 42000 PELABUHAN KLANG,
SELANGOR, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she provided some information.
The address provided is incomplete.
The Subject refused to disclose its number of employees.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.30% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
20.00% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The
Subject's management have been efficient in controlling its operating costs.
The Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
37 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.28 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.50 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations and
the Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
5.28 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.79 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the Subject
is able to generate sufficient income to service its interest and repay the
loans. The Subject was lowly geared thus it had a low financial risk. The
Subject was mainly financed by its shareholders' funds and internally
generated funds. In times of economic slowdown / downturn, the Subject being
a lowly geared company, will be able to compete better than those companies
which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. The
Subject had an acceptable interest cover. If there is no sudden sharp
increase in interest rate or fall in the Subject's profit, we do believe the
Subject is able to generate sufficient cash flow to service its interest
payment. The Subject as a lowly geared company, will be more secured compared
to those highly geared companies. It has the ability to meet all its long
term obligations. |
||||||
|
Overall financial condition of the Subject : FAIR |
||||||
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 |
|
|
16292 : Manufacture of other products of wood, cane, articles of cork,
straw and plaiting materials |
|
|
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
|
|
|
FINANCIALs
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
VIN-FOREST INDUSTRIES SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
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 |
38,244,294 |
34,692,941 |
28,268,368 |
14,791,631 |
12,930,166 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
38,244,294 |
34,692,941 |
28,268,368 |
14,791,631 |
12,930,166 |
|
Costs of Goods Sold |
(36,774,177) |
(33,199,713) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,470,117 |
1,493,228 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,094,934 |
984,585 |
877,176 |
530,008 |
627,136 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,094,934 |
984,585 |
877,176 |
530,008 |
627,136 |
|
Taxation |
(196,483) |
(155,265) |
(126,158) |
(13,384) |
(15,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
898,451 |
829,320 |
751,018 |
516,624 |
612,136 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
2,145,390 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
2,145,390 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
5,752,939 |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,752,939 |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
3,484 |
3,950 |
- |
- |
- |
|
Lease interest |
27,112 |
30,550 |
29,574 |
10,378 |
6,355 |
|
Term loan / Borrowing |
74,139 |
41,434 |
- |
- |
- |
|
Others |
151,160 |
89,045 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
255,895 |
164,979 |
29,574 |
10,378 |
6,355 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
569,588 |
458,366 |
383,255 |
322,997 |
298,852 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
569,588 |
458,366 |
383,255 |
322,997 |
298,852 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
VIN-FOREST INDUSTRIES SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
4,912,000 |
4,788,459 |
2,152,377 |
1,945,804 |
1,744,765 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
4,912,000 |
4,788,459 |
2,152,377 |
1,945,804 |
1,744,765 |
|
CURRENT ASSETS |
|||||
|
Stocks |
2,805,839 |
3,160,628 |
2,602,420 |
2,781,162 |
1,427,159 |
|
Contract work-in-progress |
1,061,326 |
992,855 |
1,284,996 |
1,560,384 |
911,157 |
|
Trade debtors |
4,927,210 |
2,771,641 |
2,499,916 |
933,489 |
1,399,914 |
|
Other debtors, deposits & prepayments |
10,064,475 |
3,697,238 |
2,281,301 |
1,194,081 |
1,013,774 |
|
Short term deposits |
- |
- |
- |
1,750,000 |
- |
|
Cash & bank balances |
345,324 |
2,374,879 |
1,809,685 |
585,953 |
415,813 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
19,204,174 |
12,997,241 |
10,478,318 |
8,805,069 |
5,167,817 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
24,116,174 |
17,785,700 |
12,630,695 |
10,750,873 |
6,912,582 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
4,690,578 |
3,547,881 |
4,232,132 |
4,003,527 |
1,389,481 |
|
Other creditors & accruals |
4,870,812 |
3,898,424 |
1,974,076 |
1,511,149 |
931,719 |
|
Bank overdraft |
345,898 |
236,058 |
216,111 |
110,341 |
24,075 |
|
Short term borrowings/Term loans |
158,027 |
21,913 |
- |
- |
- |
|
Bill & acceptances payable |
446,700 |
- |
- |
- |
- |
|
Amounts owing to holding company |
450,000 |
470,000 |
470,000 |
480,000 |
600,000 |
|
Amounts owing to director |
1,500,000 |
2,000,000 |
183,000 |
- |
- |
|
Provision for taxation |
132,668 |
126,334 |
83,500 |
250 |
1,209 |
|
Lease payables |
193,891 |
229,131 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
12,788,574 |
10,529,741 |
7,158,819 |
6,105,267 |
2,946,484 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
6,415,600 |
2,467,500 |
3,319,499 |
2,699,802 |
2,221,333 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
4,288,662 |
1,000,039 |
- |
- |
- |
|
Lease obligations |
121,999 |
237,432 |
- |
- |
- |
|
Hire purchase creditors |
- |
- |
282,708 |
207,456 |
44,572 |
|
Deferred taxation |
164,000 |
164,000 |
164,000 |
164,000 |
164,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
4,574,661 |
1,401,471 |
446,708 |
371,456 |
208,572 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
6,752,939 |
5,854,488 |
5,025,168 |
4,274,150 |
3,757,526 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
5,752,939 |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
5,752,939 |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
6,752,939 |
5,854,488 |
5,025,168 |
4,274,150 |
3,757,526 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
VIN-FOREST INDUSTRIES SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
345,324 |
2,374,879 |
1,809,685 |
2,335,953 |
415,813 |
|
Net Liquid Funds |
(447,274) |
2,138,821 |
1,593,574 |
2,225,612 |
391,738 |
|
Net Liquid Assets |
3,609,761 |
(693,128) |
717,079 |
(81,360) |
794,174 |
|
Net Current Assets/(Liabilities) |
6,415,600 |
2,467,500 |
3,319,499 |
2,699,802 |
2,221,333 |
|
Net Tangible Assets |
6,752,939 |
5,854,488 |
5,025,168 |
4,274,150 |
3,757,526 |
|
Net Monetary Assets |
(964,900) |
(2,094,599) |
270,371 |
(452,816) |
585,602 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
1,350,829 |
1,149,564 |
906,750 |
540,386 |
633,491 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
1,920,417 |
1,607,930 |
1,290,005 |
863,383 |
932,343 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
5,361,286 |
1,495,442 |
498,819 |
317,797 |
68,647 |
|
Total Liabilities |
17,363,235 |
11,931,212 |
7,605,527 |
6,476,723 |
3,155,056 |
|
Total Assets |
24,116,174 |
17,785,700 |
12,630,695 |
10,750,873 |
6,912,582 |
|
Net Assets |
6,752,939 |
5,854,488 |
5,025,168 |
4,274,150 |
3,757,526 |
|
Net Assets Backing |
6,752,939 |
5,854,488 |
5,025,168 |
4,274,150 |
3,757,526 |
|
Shareholders' Funds |
6,752,939 |
5,854,488 |
5,025,168 |
4,274,150 |
3,757,526 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
5,752,939 |
4,854,488 |
4,025,168 |
3,274,150 |
2,757,526 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
10.24 |
22.73 |
91.11 |
14.40 |
5.26 |
|
Proft/(Loss) Before Tax |
11.21 |
12.24 |
65.50 |
(15.49) |
(22.73) |
|
Proft/(Loss) After Tax |
8.34 |
10.43 |
45.37 |
(15.60) |
(16.26) |
|
Total Assets |
35.59 |
40.81 |
17.49 |
55.53 |
2.45 |
|
Total Liabilities |
45.53 |
56.88 |
17.43 |
105.28 |
(12.40) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.03 |
0.23 |
0.25 |
0.38 |
0.14 |
|
Liquid Ratio |
1.28 |
0.93 |
1.10 |
0.99 |
1.27 |
|
Current Ratio |
1.50 |
1.23 |
1.46 |
1.44 |
1.75 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
37 |
44 |
50 |
107 |
66 |
|
Debtors Ratio |
47 |
29 |
32 |
23 |
40 |
|
Creditors Ratio |
47 |
39 |
55 |
99 |
39 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.79 |
0.26 |
0.10 |
0.07 |
0.02 |
|
Liabilities Ratio |
2.57 |
2.04 |
1.51 |
1.52 |
0.84 |
|
Times Interest Earned Ratio |
5.28 |
6.97 |
30.66 |
52.07 |
99.68 |
|
Assets Backing Ratio |
6.75 |
5.85 |
5.03 |
4.27 |
3.76 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.86 |
2.84 |
3.10 |
3.58 |
4.85 |
|
Net Profit Margin |
2.35 |
2.39 |
2.66 |
3.49 |
4.73 |
|
Return On Net Assets |
20.00 |
19.64 |
18.04 |
12.64 |
16.86 |
|
Return On Capital Employed |
11.57 |
15.34 |
15.94 |
11.36 |
15.88 |
|
Return On Shareholders' Funds/Equity |
13.30 |
14.17 |
14.95 |
12.09 |
16.29 |
|
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 65.80 |
|
|
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
|
MYR |
1 |
INR 16.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KET |
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.