|
|
|
MIRA
INFORM REPORT
|
Report No. : |
507971 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
THIN SANG TRADING |
|
|
|
|
Registered Office : |
20, Jalan Tpk 2/6, Taman Perindustrian Kinrara, 47100
Puchong, Selangor |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Date of Incorporation : |
11.08.2009 |
|
|
|
|
Com. Reg. No.: |
001886453-X |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of textiles. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
D |
|
Credit Rating |
Explanation |
Rating Comments |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
Status : |
Undetermined |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
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. |
: |
001886453-X |
|
GST NO. |
: |
000665362432 |
|
COMPANY NAME |
: |
THIN SANG TRADING |
|
COMMENCEMENT DATE |
: |
11/08/2009 |
|
REGISTRATION DATE |
: |
11/08/2009 |
|
EXPIRY DATE |
: |
25/09/2022 |
|
COMPANY STATUS |
: |
ACTIVE |
|
BUSINESS CONSTITUTION |
: |
SOLE PROPRIETORSHIP |
|
BUSINESS ADDRESS |
: |
20, JALAN TPK 2/6, TAMAN PERINDUSTRIAN KINRARA, 47100 PUCHONG,
SELANGOR, MALAYSIA. |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
N/A |
|
INDUSTRY CODE |
: |
47820 |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF TEXTILES |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
DEFAULTER CHECK |
: |
CLEAR |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
N/A |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY / BACKGROUND |
The Subject commenced its business on 11/08/2009 as a SOLE
PROPRIETORSHIP.
The Subject is a sole
proprietorship, that is, it has a single owner whose liabilities are unlimited.
In case the Subject is unable to meet all its obligations, the creditors can
claim on the owner's personal assets. The sole proprietorship ceases upon the
death of the owner or any time at the discretion of the owner. The ownership is
non-transferable. Under the law, the Subject has to file in its information
with Registrar of Business but it is not required to file in its financial
statements.
The Subject is principally engaged in the (as a / as an) trading
of textiles.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
The owner of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. LOONG THIN SANG |
144, JALAN BK 5/12, BANDAR KINRARA , 47100 PUCHONG, SELANGOR,
MALAYSIA. |
631014-05-5389 7127724 |
100.00 |
100.00 |
|
--------------- |
------ |
|||
|
100.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
OWNERS |
OWNER(S) 1
|
Name Of Subject |
: |
MR. LOONG THIN SANG |
|
Address |
: |
144, JALAN BK 5/12, BANDAR KINRARA, 47100 PUCHONG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
7127724 |
|
New IC No |
: |
631014-05-5389 |
|
Date of Birth |
: |
14/10/1963 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
11/08/2009 |
|
Shareholding |
: |
100% |
INTEREST CHECK
|
Interest in companies |
: |
none in our databank |
|
Interest in business |
: |
see below |
INTEREST IN BUSINESS
|
Business |
Position |
Shareholding |
As At |
|
NPRO ENTERPRISE |
SOLE PROPRIETORSHIP |
100.00 |
23/04/2018 |
|
THIN SANG TRADING |
SOLE PROPRIETORSHIP |
100.00 |
23/04/2018 |
|
THIN SANG TRADING |
SOLE PROPRIETORSHIP |
100.00 |
23/04/2018 |
|
XINWANG TRADING |
SOLE PROPRIETORSHIP |
100.00 |
23/04/2018 |
MANAGEMENT |
No data found in our databank.
AUDITOR |
No Auditor found in our databank
BANKING |
No Banker found in our databank.
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.
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 |
: |
N/A |
|
Overseas |
: |
N/A |
CLIENTELE
|
No data found in our databank.
OPERATIONS
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of textiles.
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 |
: |
20 JALAN TPK 2/6, TAMAN PERINDUSTRIAN KINRARA 47100 PUCHONG,
SELANGOR DE |
|
Current Address |
: |
20, JALAN TPK 2/6, TAMAN PERINDUSTRIAN KINRARA, 47100 PUCHONG,
SELANGOR, MALAYSIA. |
|
Match |
: |
N/A |
Other Investigations
We were unable to contact the Subject and its owner.
We were unable to verify the address provided.
We found contact number for the Subject at 03-4293 9343 but it is invalid.
FINANCIAL ANALYSIS |
|
|
|
We are unable to comment on the Subject financial position as
the Subject is not required by the law to file its financial statement in the
Registrar of Business. |
||||||
|
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 |
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 |
|
|
47820 : Retail sale of textiles, clothing and footwear via
stalls or markets |
|
|
INDUSTRY : |
TRADING |
|
Malaysia's retail sales will
likely grow 3.7% in 2017, slower than previously estimated 3.9%, as consumer
sentiment remains weak amid rising cost of living in Southeast Asia's third
largest economy. |
|
|
The cut in forecast was the
second of such revision by Retail Group Malaysia, a retail consulting firm,
from an initial target of 5% retail sales expansion pace in 2017. The
estimate follows a survey of members of Malaysia Retailers Association on
their second quarter performance and outlook for the year. Retail sales grew
1.7% in 2016. |
|
|
According to Retail Group
Malaysia (RGM), Malaysian retailers have seen the sales expanded 4.9 % from
April to June 2017, reversing a dismal performance in first three months
2017. For the first six months 2016, the retail sale growth rate was 2.5 %.
However, the businesses in the next three months are not optimistic,
estimating an average growth rate of 2.9 %. The department stores cum
supermarket operators are expecting to return to red with a contraction of
2.5 %. Similarly, the department store operators expect their businesses to
dip with a negative 1.5 %. |
|
|
The rise of purchasing power
will continue to fall behind the increase in prices of retail goods. More
retail goods are expected to raise prices because of higher fuel prices in
recent months. |
|
|
The wholesale trade sub-sector
index increased 5.9 % to 165.9 points year-on-year (y-o-y) driven mainly by
other specialised wholesale (7.5 %), wholesale of agricultural raw materials
and livestock (7.3 %) and wholesale of machinery, equipment and supplies (6.2
%). |
|
|
Over 60% of Gross Domestic
Product (GDP) is contributed by domestic consumption. Therefore the wholesale
and retail sector plays a crucial role in driving Malaysia's growth over the
next decade despite the ongoing global economic slowdown. By 2020, Malaysia's
wholesale and retail sector is expected to boost the country's total Gross
National Income (GNI) by RM156 billion, creating 454,190 new jobs. |
|
|
OVERALL INDUSTRY OUTLOOK : Marginal 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 67.32 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.51 |
|
MYR |
1 |
INR 17.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TRU |
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.