|
|
|
%20SDN%20%20BHD%20%20-%20507256%2005-May-2018_files/image002.jpg){kind=small}
%20SDN%20%20BHD%20%20-%20507256%2005-May-2018_files/image004.jpg)
%20SDN%20%20BHD%20%20-%20507256%2005-May-2018_files/image006.gif)
MIRA INFORM REPORT
|
Report No. : |
507256 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ELEKTRISOLA
(MALAYSIA) SDN. BHD. |
|
|
|
|
Registered Office : |
Elektrisola (Malaysia) Sdn. Bhd., Jalan
Damai 1, Janda Baik, 28750 Bentong, Pahang |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
07.02.1990 |
|
|
|
|
Com. Reg. No.: |
193121-P |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacturing of copper wires. |
|
|
|
|
No. of Employees : |
800 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. |
: |
193121-P |
||||
|
GST NO. |
: |
000736886784 |
||||
|
COMPANY NAME |
: |
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
07/02/1990 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
ELEKTRISOLA (MALAYSIA) SDN. BHD., JALAN
DAMAI 1, JANDA BAIK, 28750 BENTONG, PAHANG, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
JALAN DAMAI SATU, JANDA BAIK, 28750
BENTONG, PAHANG, MALAYSIA. |
||||
|
TEL.NO. |
: |
09-2210888 |
||||
|
FAX.NO. |
: |
09-2210800 |
||||
|
EMAIL |
: |
SALES@ELEKTRISOLA.MY |
||||
|
WEB SITE |
: |
WWW.ELEKTRISOLA.COM |
||||
|
CONTACT PERSON |
: |
MOHD KHAIRI BIN MOHD ANUAR ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
27320 |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF COPPER WIRES |
||||
|
AUTHORISED CAPITAL |
: |
MYR 100,000,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 48,000,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 431,340,322 [2016] |
||||
|
NET WORTH |
: |
MYR 489,916,518 [2016] |
||||
|
M1000 OVERALL RANKING |
: |
707[2009] |
||||
|
M1000 INDUSTRY RANKING |
: |
16[2009] |
||||
|
STAFF STRENGTH |
: |
800 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject shall have a minimum one director. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act, 1965 and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as
a / as an) manufacturing of copper wires.
The Subject is not listed on Bursa Malaysia
(Malaysia Stock Exchange).
|
According to the Malaysia 1000 publication,
the Subject's ranking are as follows: |
|||
|
YEAR |
2009 |
2008 |
|
|
OVERALL RANKING |
707 |
661 |
|
|
INDUSTRY RANKING |
16 |
11 |
|
The immediate holding company of the Subject
is DR SCHILDBACH FINANZ GMBH, a company incorporated in GERMANY.
The ultimate holding company of the Subject is
DR. SCHILDBACH FINANZ-GMBH, a company incorporated in GERMANY.
Former Address(es)
|
Address |
As At Date |
|
TKT.22,WISMA CYCLECARRI, 288,JALAN RAJA
LAUT, KUALA LUMPUR., 50350, WILAYAH PERSEKUTUAN, MALAYSIA |
N/A |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
16/06/2015 |
MYR 100,000,000.00 |
MYR 48,000,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DR SCHILDBACH FINANZ GMBH |
IN DER HUTTENWIESE, REICHSHOF-ECKENHAGEN,
WEST GERMANY 51574 ,GERMANY |
HRB1553 |
48,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
48,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDIA |
ELEKTRISOLAR (INDIA) PVT LTD |
- |
99.00 |
31/12/2016 |
|
|
INDONESIA |
PT ELEKTRISOLA INDONESIA |
- |
99.00 |
31/12/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
OLIVER SCHILDBACH |
|
Address |
: |
WARTHSRABE 47, D-51674 WIEHL, GERMANY. |
|
IC / PP No |
: |
C78NJ2C02 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
24/08/1990 |
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 |
193121P |
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
Director |
24/08/1990 |
0.00 |
- |
MYR92,411,044.00 |
2016 |
- |
23/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. MOHD KHAIRI BIN MOHD ANUAR |
|
Address |
: |
LOT 4178, KAMPUNG BARU KETARI, 28700
BENTONG, PAHANG, MALAYSIA. |
|
IC / PP No |
: |
A0928002 |
|
New IC No |
: |
680301-05-5657 |
|
Date of Birth |
: |
01/03/1968 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/11/2009 |
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 |
193121P |
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
Director |
11/11/2009 |
0.00 |
- |
MYR92,411,044.00 |
2016 |
- |
23/04/2018 |
|
2 |
175096U |
SOM SOM SERVICES SDN. BHD. |
Director |
08/03/2010 |
259,999.00 |
100.00 |
MYR(17,503.00) |
2016 |
Winding-Up by Member Voluntary |
23/04/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
DR DETLEF SCHILDBACH |
|
Address |
: |
AM FEHLBERG 29, D-51580
REICHSHOF-ECKENHAGEN, GERMANY. |
|
IC / PP No |
: |
C78LV5990 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
24/08/1990 |
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 |
193121P |
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
Director |
24/08/1990 |
0.00 |
- |
MYR92,411,044.00 |
2016 |
- |
23/04/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
MS. ZOHARAH BINTI OMAR |
|
Address |
: |
12, JALAN DESA MEWAH 1, TAMAN DESA MEWAH,
43500 SEMENYIH, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
A1449295 |
|
New IC No |
: |
691108-01-6078 |
|
Date of Birth |
: |
08/11/1969 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/01/2018 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
|
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 |
1122380D |
CHINTA CHANTEK SDN. BHD. |
Director |
11/12/2014 |
1.00 |
50.00 |
MYR(2,136.00) |
2016 |
- |
23/04/2018 |
|
2 |
193121P |
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
Director |
01/01/2018 |
0.00 |
- |
MYR92,411,044.00 |
2016 |
- |
23/04/2018 |
|
3 |
175096U |
SOM SOM SERVICES SDN. BHD. |
Director |
08/03/2010 |
1.00 |
0.0004 |
MYR(17,503.00) |
2016 |
Winding-Up by Member Voluntary |
23/04/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
002242574M |
EXCELLENZA SIGMA RESOURCES |
PARTNERSHIP |
09/07/2013 |
50.00 |
- |
26/03/2018 |
|
2 |
002487079P |
ZYAZZ RESOURCES |
SOLE PROPRIETORSHIP |
09/11/2015 |
100.00 |
- |
26/03/2018 |
FORMER DIRECTOR(S)
|
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
GERD SCHILDBACH |
BERSGSTR.44, D5275 BERGNEUSTADT |
F3348187 |
24/08/1990 |
02/08/2001 |
|
THILO JOCHEN WESTERHAUSEN |
JALAN DAMAI SATU, JANDA BAIK, BENTONG,
PAHANG, MALAYSIA |
C4K5KK242 |
21/05/1992 |
20/12/2017 |
|
ZAINAL ABIDIN BIN JAMAL |
NO.4, JALAN 2, TAMAN SARI UKAY, AMPANG,
WILAYAH PERSEKUTUAN, MALAYSIA |
540225-71-5355 |
07/02/1990 |
12/11/2009 |
Note : The above information was generated
from our database.
MANAGEMENT
|
|
1) |
Name of Subject |
: |
MOHD KHAIRI BIN MOHD ANUAR |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS |
|
Auditor' Address |
: |
LEVEL 10, 1 SENTRAL, JALAN TRAVERS, KUALA
LUMPUR SENTRAL, 50706 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. LEONG SHIAK WAN |
|
IC / PP No |
: |
A1393261 |
|
|
New IC No |
: |
691117-10-5486 |
|
|
Address |
: |
LEVEL 8, SYMPHONY HOUSE PUSAT DAGANGAN DANA
1, JALAN PJU 1A/46, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
CIMB BANK BHD |
|
2) |
Name |
: |
HSBC BANK MALAYSIA BHD |
|
3) |
Name |
: |
AFFIN BANK BERHAD |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
1 |
07/06/1994 |
FIXED AND FLOATING CHARGE |
BANK OF COMMERCE M BERHAD |
MYR 6,000,000.00 |
Unsatisfied |
|
2 |
07/06/1994 |
FIXED AND FLOATING CHARGE |
HONGKONG BANK MALAYSIA BERHAD |
MYR 4,000,000.00 |
Unsatisfied |
|
3 |
09/01/2008 |
MEMORANDUM OF THIRD LEGAL CHARGE |
HSBC BANK MALAYSIA BERHAD |
EUR 7,400,000.00 |
Satisfied |
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank against the Subject whether the
Subject has been involved in any litigation. Our databank consists of 99% of
the wound up companies in Malaysia.
No legal action was found in our databank.
No winding up petition was found in our databank.
CRIMINAL 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 |
: |
20% |
|
Overseas |
: |
YES |
Percentage |
: |
80% |
|
Import Countries |
: |
EUROPE,ASIA |
|||
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
30% |
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
Export Market |
: |
CHINA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Type of Customer |
: |
DISTRIBUTORS,CONTRACTOR,ELECTRICAL &
ELECTRONIC INDUSTRIES,ELECTRICAL & MECHANICAL CONTRACTORS |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|||||
|
Product Brand Name |
: |
|
|||||
|
Award |
: |
1 ) ISO/ TS
16949 : 2002 Year :2004 |
|||||
|
Competitor(s) |
: |
|
|||||
|
Member(s) / Affiliate(s) |
: |
FEDERATION OF MALAYSIAN MANUFACTURERS (FMM) SMI ASSOCIATION OF MALAYSIA MALAYSIA EXTERNAL TRADE DEVELOPMENT
CORPORATION (MATRADE) SMALL & MEDIUM ENTERPRISE MALAYSIAN INTERNATIONAL CHAMBER OF COMMERCE
AND INDUSTRY (MICCI) |
|||||
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
800 |
750 |
750 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
copper wires.
The Subject produces an ultra-fine copper wires mainly for electrical and electronic,
telecommunication and automotive industries
The Subject's products range as follows:
* Metal : Copper, different brass types, aluminium and copper clad aluminium.
* Diameters: 0,010 - 0,50 mm, for technical.
* Insulation: Wide range of different coating available such as enamelled wire
types and selfbonding wire
* Colours: Available on request.
* Spool sizes: Different spool sizes available such as big spools available for
high productivity on automatic high speed winding machines, (0,05 mm wires up
to 20 kg per spool).
* Lubrication: Precisely metered lubrication with very small tolerance avoids
potting and taping problems, while ensuring super wind ability with no wire
breaks.
We were informed that the Subject's products are manufactured according to its
customers' specifications.
The Subject utilizes an advanced automated and semi-automated machines to
ensure production of high quality products.
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 |
: |
09-2210888 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
JALAN DAMAI SATU, JANDA BAIK, 28750
BENTONG, PAHANG DARUL MAKMUR |
|
Current Address |
: |
JALAN DAMAI SATU, JANDA BAIK, 28750
BENTONG, PAHANG, 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 |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
18.86% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
22.20% |
] |
|
|
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 |
: |
Unfavourable |
[ |
77 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
62 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
The Subject could be incurring higher holding
cost. As its capital was tied up in stocks, it could face liquidity problems.
The Subject's management was quite efficient in handling its debtors. The
Subject's debtors days were at an acceptable range, thus the risk of its
debts turning bad was minimised. 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 |
[ |
4.09 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
5.58 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it
did not pay any interest during the year. The Subject had no gearing and hence
it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those 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 did not make any interest payment during the
year. The Subject was dependent on its shareholders' funds to finance its
business needs. The Subject was a zero gearing company, it was solely
dependant on its shareholders to provide funds to finance its business. The
Subject has good chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject
: STRONG |
||||||
|
|
||||||
MALAYSIA ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators: |
2014 |
2015 |
2016 |
2017* |
2018** |
|
Population ( Million) |
30.0 |
31.0 |
31.6 |
32.1 |
32.9 |
|
Gross Domestic Products ( % ) |
6.0 |
4.6 |
4.2 |
5.3 |
5.4 |
|
Domestic Demand ( % ) |
6.4 |
6.2 |
4.3 |
6.3 |
6.4 |
|
Private Expenditure ( % ) |
7.9 |
6.9 |
7.8 |
7.4 |
7.3 |
|
Consumption ( % ) |
6.5 |
6.1 |
5.1 |
6.9 |
6.8 |
|
Investment ( % ) |
12.0 |
8.1 |
10.0 |
9.3 |
8.9 |
|
Public Expenditure ( % ) |
2.3 |
4.2 |
3.3 |
5.3 |
5.5 |
|
Consumption ( % ) |
2.1 |
4.3 |
2.0 |
2.7 |
1.3 |
|
Investment ( % ) |
2.6 |
(1.0) |
1.1 |
3.4 |
3.8 |
|
Balance of Trade ( MYR Million ) |
82,480 |
91,577 |
88,145 |
94,593 |
96,993 |
|
Government Finance ( MYR Million ) |
(37,414) |
(37,194) |
(38,401) |
(39,887) |
(39,790) |
|
Government Finance to GDP / Fiscal Deficit
( % ) |
(3.4) |
(3.2) |
(3.1) |
(3.0) |
(2.8) |
|
Inflation ( % Change in Composite CPI) |
3.2 |
4.0 |
2.1 |
3.5 |
3.0 |
|
Unemployment Rate |
2.9 |
3.1 |
3.4 |
3.4 |
3.3 |
|
Net International Reserves ( MYR Billion ) |
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 |
47,871 |
- |
|
Registration of New Companies ( % ) |
6.1 |
(7.2) |
(5.3) |
10.7 |
- |
|
Liquidation of Companies ( No. ) |
33,226 |
34,667 |
36,778 |
38,632 |
- |
|
Liquidation of Companies ( % ) |
0.5 |
4.3 |
6.1 |
5.0 |
- |
|
Registration of New Business ( No. ) |
332,723 |
364,230 |
376,720 |
484,029 |
- |
|
Registration of New Business ( % ) |
1.0 |
9.0 |
3.0 |
29.0 |
- |
|
Business Dissolved ( No. ) |
26,966 |
- |
- |
- |
- |
|
Business Dissolved ( % ) |
48.5 |
- |
- |
- |
- |
|
Sales of New Passenger Cars (' 000 Unit ) |
588.3 |
591.3 |
514.6 |
527.8 |
- |
|
Cellular Phone Subscribers ( Million ) |
44.0 |
44.2 |
44.0 |
- |
- |
|
Tourist Arrival ( Million Persons ) |
27.4 |
25.7 |
30.2 |
30.1 |
- |
|
Hotel Occupancy Rate ( % ) |
63.6 |
58.8 |
61.2 |
- |
- |
|
Credit Cards Spending ( % ) |
5.8 |
6.8 |
6.3 |
- |
- |
|
Bad Cheque Offenders (No.) |
- |
- |
- |
- |
- |
|
Individual Bankruptcy ( No.) |
22,351 |
18,457 |
- |
- |
- |
|
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 |
|
|
27320 : Manufacture of other electronic and
electric wires and cables |
|
|
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) |
|
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
MYR |
MYR |
MYR |
MYR |
MYR |
|
TURNOVER |
431,340,322 |
405,183,692 |
358,275,081 |
340,660,444 |
332,424,211 |
|
Other Income |
20,054,487 |
20,533,588 |
15,033,010 |
11,734,996 |
6,326,995 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
451,394,809 |
425,717,280 |
373,308,091 |
352,395,440 |
338,751,206 |
|
Costs of Goods Sold |
(313,042,552) |
(300,539,695) |
(294,716,342) |
(290,694,570) |
(299,034,191) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
138,352,257 |
125,177,585 |
78,591,749 |
61,700,870 |
39,717,015 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
108,738,558 |
92,062,963 |
52,418,286 |
36,197,948 |
14,112,566 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
108,738,558 |
92,062,963 |
52,418,286 |
36,197,948 |
14,112,566 |
|
Taxation |
(16,327,514) |
68,596,528 |
(190,845) |
(61,294) |
(157,320) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
92,411,044 |
160,659,491 |
52,227,441 |
36,136,654 |
13,955,246 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
389,694,635 |
239,035,144 |
186,807,703 |
150,671,049 |
136,715,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
389,694,635 |
239,035,144 |
186,807,703 |
150,671,049 |
136,715,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
482,105,679 |
399,694,635 |
239,035,144 |
186,807,703 |
150,671,049 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(40,000,000) |
(10,000,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
442,105,679 |
389,694,635 |
239,035,144 |
186,807,703 |
150,671,049 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Term loan / Borrowing |
- |
- |
2,319 |
2,762 |
76,553 |
|
Others |
- |
- |
549,625 |
649,232 |
935,124 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
551,944 |
651,994 |
1,011,677 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
13,591,714 |
14,565,652 |
17,747,354 |
21,867,628 |
29,842,862 |
|
AMORTIZATION |
18,929 |
18,929 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
13,610,643 |
14,584,581 |
17,747,354 |
21,867,628 |
29,842,862 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
127,570,522 |
91,539,129 |
99,781,542 |
107,646,601 |
120,039,133 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Investments |
24,968,692 |
- |
- |
- |
- |
|
Loans & advances - non-current |
4,048,505 |
3,739,309 |
4,263,921 |
4,959,131 |
5,163,998 |
|
Deferred assets |
55,750,507 |
71,988,988 |
3,260,956 |
3,255,600 |
3,251,367 |
|
Others |
1,061,005 |
1,079,934 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
85,828,709 |
76,808,231 |
7,524,877 |
8,214,731 |
8,415,365 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
213,399,231 |
168,347,360 |
107,306,419 |
115,861,332 |
128,454,498 |
|
CURRENT ASSETS |
|||||
|
Stocks |
90,138,092 |
81,803,992 |
86,621,965 |
82,377,105 |
82,525,861 |
|
Contract work-in-progress |
1,300,950 |
1,120,267 |
1,413,026 |
1,384,991 |
779,478 |
|
Trade debtors |
72,717,278 |
63,410,043 |
59,717,065 |
52,398,494 |
52,377,371 |
|
Other debtors, deposits & prepayments |
5,799,391 |
5,704,679 |
746,744 |
1,185,545 |
877,808 |
|
Amount due from holding company |
16,911,211 |
32,797,700 |
- |
- |
- |
|
Amount due from related companies |
97,045,824 |
76,419,556 |
29,172,983 |
45,940,628 |
16,509,521 |
|
Cash & bank balances |
51,116,504 |
38,050,744 |
25,623,056 |
29,613,710 |
22,328,874 |
|
Others |
1,900,923 |
1,846,524 |
658,201 |
137,212 |
441,168 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
336,930,173 |
301,153,505 |
203,953,040 |
213,037,685 |
175,840,081 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
550,329,404 |
469,500,865 |
311,259,459 |
328,899,017 |
304,294,579 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
19,541,218 |
11,869,160 |
13,113,183 |
15,340,068 |
14,712,087 |
|
Other creditors & accruals |
16,238,479 |
17,224,467 |
9,349,515 |
8,292,876 |
7,977,786 |
|
Amounts owing to related companies |
24,505,548 |
2,674,594 |
1,880,401 |
31,142,536 |
29,916,722 |
|
Provision for taxation |
64,551 |
185,403 |
121,845 |
100,995 |
474,194 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
60,349,796 |
31,953,624 |
24,464,944 |
54,876,475 |
53,080,789 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
276,580,377 |
269,199,881 |
179,488,096 |
158,161,210 |
122,759,292 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Retirement benefits provision |
63,090 |
37,892 |
30,115 |
18,128 |
18,749 |
|
Others |
- |
- |
- |
39,501,000 |
52,810,050 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
63,090 |
37,892 |
30,115 |
39,519,128 |
52,828,799 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
489,916,518 |
437,509,349 |
286,764,400 |
234,503,414 |
198,384,991 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
48,000,000 |
48,000,000 |
48,000,000 |
48,000,000 |
48,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
48,000,000 |
48,000,000 |
48,000,000 |
48,000,000 |
48,000,000 |
|
RESERVES |
|||||
|
Exchange equalisation/fluctuation reserve |
(189,161) |
(185,286) |
(270,744) |
(304,289) |
(286,058) |
|
Retained profit/(loss) carried forward |
442,105,679 |
389,694,635 |
239,035,144 |
186,807,703 |
150,671,049 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
441,916,518 |
389,509,349 |
238,764,400 |
186,503,414 |
150,384,991 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
489,916,518 |
437,509,349 |
286,764,400 |
234,503,414 |
198,384,991 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
ELEKTRISOLA (MALAYSIA) SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
51,116,504 |
38,050,744 |
25,623,056 |
29,613,710 |
22,328,874 |
|
Net Liquid Funds |
51,116,504 |
38,050,744 |
25,623,056 |
29,613,710 |
22,328,874 |
|
Net Liquid Assets |
186,442,285 |
187,395,889 |
92,866,131 |
75,784,105 |
40,233,431 |
|
Net Current Assets/(Liabilities) |
276,580,377 |
269,199,881 |
179,488,096 |
158,161,210 |
122,759,292 |
|
Net Tangible Assets |
489,916,518 |
437,509,349 |
286,764,400 |
234,503,414 |
198,384,991 |
|
Net Monetary Assets |
186,379,195 |
187,357,997 |
92,836,016 |
36,264,977 |
(12,595,368) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
108,738,558 |
92,062,963 |
52,970,230 |
36,849,942 |
15,124,243 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
122,349,201 |
106,647,544 |
70,717,584 |
58,717,570 |
44,967,105 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total Liabilities |
60,412,886 |
31,991,516 |
24,495,059 |
94,395,603 |
105,909,588 |
|
Total Assets |
550,329,404 |
469,500,865 |
311,259,459 |
328,899,017 |
304,294,579 |
|
Net Assets |
489,916,518 |
437,509,349 |
286,764,400 |
234,503,414 |
198,384,991 |
|
Net Assets Backing |
489,916,518 |
437,509,349 |
286,764,400 |
234,503,414 |
198,384,991 |
|
Shareholders' Funds |
489,916,518 |
437,509,349 |
286,764,400 |
234,503,414 |
198,384,991 |
|
Total Share Capital |
48,000,000 |
48,000,000 |
48,000,000 |
48,000,000 |
48,000,000 |
|
Total Reserves |
441,916,518 |
389,509,349 |
238,764,400 |
186,503,414 |
150,384,991 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
6.46 |
13.09 |
5.17 |
2.48 |
(14.19) |
|
Proft/(Loss) Before Tax |
18.11 |
75.63 |
44.81 |
156.49 |
34.65 |
|
Proft/(Loss) After Tax |
(42.48) |
207.62 |
44.53 |
158.95 |
33.86 |
|
Total Assets |
17.22 |
50.84 |
(5.36) |
8.09 |
(5.30) |
|
Total Liabilities |
88.84 |
30.60 |
(74.05) |
(10.87) |
(22.61) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.85 |
1.19 |
1.05 |
0.54 |
0.42 |
|
Liquid Ratio |
4.09 |
6.86 |
4.80 |
2.38 |
1.76 |
|
Current Ratio |
5.58 |
9.42 |
8.34 |
3.88 |
3.31 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
77 |
75 |
90 |
90 |
91 |
|
Debtors Ratio |
62 |
57 |
61 |
56 |
58 |
|
Creditors Ratio |
23 |
14 |
16 |
19 |
18 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.12 |
0.07 |
0.09 |
0.40 |
0.53 |
|
Times Interest Earned Ratio |
0 |
0 |
95.97 |
56.52 |
14.95 |
|
Assets Backing Ratio |
10.21 |
9.11 |
5.97 |
4.89 |
4.13 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
25.21 |
22.72 |
14.63 |
10.63 |
4.25 |
|
Net Profit Margin |
21.42 |
39.65 |
14.58 |
10.61 |
4.20 |
|
Return On Net Assets |
22.20 |
21.04 |
18.47 |
15.71 |
7.62 |
|
Return On Capital Employed |
22.19 |
21.04 |
18.47 |
13.45 |
6.02 |
|
Return On Shareholders' Funds/Equity |
18.86 |
36.72 |
18.21 |
15.41 |
7.03 |
|
Dividend Pay Out Ratio (Times) |
0.43 |
0.06 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.76 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
|
MYR |
1 |
INR 16.96 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.