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|
|
MIRA
INFORM REPORT
|
Report No. : |
509109 |
|
Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
NEURAL OILFIELD SERVICE SDN. BHD |
|
|
|
|
Formerly Known As : |
NEURAL SCIENCE SDN BHD |
|
|
|
|
Registered Office : |
Suite C-5-4, Wisma Goshen, Plaza Pantai, Jalan Pantai
Baharu, 59200 Kuala Lumpur, Wilayah Persekutuan, Malaysia. |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
19.05.1994 |
|
|
|
|
Com. Reg. No.: |
301146-W |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the service provider for the upstream
activities in the oil exploration and production operations |
|
|
|
|
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 : |
Good |
|
|
|
|
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. |
: |
301146-W |
|
GST NO. |
: |
001071448064 |
|
COMPANY NAME |
: |
NEURAL OILFIELD SERVICE SDN. BHD. |
|
FORMER NAME |
: |
NEURAL SCIENCE SDN BHD (18/06/1999) |
|
INCORPORATION DATE |
: |
19/05/1994 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
SUITE C-5-4, WISMA GOSHEN, PLAZA PANTAI, JALAN PANTAI
BAHARU, 59200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
BUSINESS ADDRESS |
: |
NO 4-2,JALAN 9/23A, OFF JALAN USAHAWAN, SETAPAK, 53200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
TEL.NO. |
: |
03-41436566 |
|
FAX.NO. |
: |
03-41438566 |
|
WEB SITE |
: |
WWW.NEURAL.COM.MY/NOSB/INDEX.HTML |
|
CONTACT PERSON |
: |
RAMBA ANAK GOYANG ( DIRECTOR ) |
|
INDUSTRY CODE |
: |
061 |
|
PRINCIPAL ACTIVITY |
: |
SERVICE PROVIDER FOR THE UPSTREAM ACTIVITIES IN THE OIL EXPLORATION
AND PRODUCTION OPERATIONS |
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 300,000.00 DIVIDED INTO |
|
SALES |
: |
MYR 5,488,092 [2016] |
|
NET WORTH |
: |
MYR 12,085,944 [2016] |
|
STAFF STRENGTH |
: |
n/a [2018] |
|
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 |
: |
AVERAGE 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) service provider for the upstream activities in the oil exploration and production operations.
The Subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).
The immediate holding company of the Subject is NEU DIMENSION SDN. BHD., a company incorporated in MALAYSIA.
Former Address(es)
|
Address |
As At Date |
|
71B, JALAN SG 3/10, TAMAN SRI GOMBAK, 68100, SELANGOR, MALAYSIA |
20/02/2012 |
|
SUITE 5-1 & 5-2, 5TH FLOOR, WISMA UOA 2, NO. 21, JALAN PINANG, 50450, WILAYAH PERSEKUTUAN, MALAYSIA |
23/11/2016 |
|
89-1, JALAN WANGSA DELIMA 5, PUSAT BANDAR WANGSA MAJU (KLSC), 53300, WILAYAH PERSEKUTUAN, MALAYSIA |
30/11/2014 |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
15/02/2013 |
MYR 500,000.00 |
MYR 300,000.00 |
|
26/05/1999 |
MYR 100,000.00 |
MYR 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s)
:
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NEU DIMENSION SDN. BHD. |
5-1 & 5-2, 5TH FLOOR, WISMA UOA 2, 21, JALAN PINANG, 50450 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
811874D |
300,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
300,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
AZIZ BIN AYOB |
MALAYSIA |
530112-05-5021 |
N/A |
N/A |
|
FAYZA BINTI HASAN |
MALAYSIA |
760601-14-5136 |
135,000.00 |
N/A |
|
MAZLAN BIN HAJI AHMAD |
MALAYSIA |
660714-05-5083 |
30,000.00 |
N/A |
|
NAZLEEN BINTI AZLAN |
MALAYSIA |
800717-08-6194 |
135,000.00 |
N/A |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
MR. RAMBA ANAK GOYANG |
|
Address |
: |
10, LOT 1569, TAMAN CEMPAKA 1, GELIGA BESAR, JALAN
KEMAMAN-KUANTAN, 24000 KEMAMAN, TERENGGANU, MALAYSIA. |
|
IC / PP No |
: |
K644253 |
|
New IC No |
: |
560107-13-5331 |
|
Date of Birth |
: |
07/01/1956 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
26/05/1999 |
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 |
309033H |
DIMENSION BID (M) SDN. BHD. |
Director |
08/09/1994 |
0.00 |
- |
MYR(14,552,216.00) |
2016 |
- |
23/04/2018 |
|
2 |
811874D |
NEU DIMENSION SDN. BHD. |
Director |
01/04/2008 |
1,520,375.00 |
30.41 |
MYR(17,637,270.00) |
2016 |
- |
23/04/2018 |
|
3 |
301146W |
NEURAL OILFIELD SERVICE SDN. BHD. |
Director |
26/05/1999 |
0.00 |
- |
MYR88,207.00 |
2016 |
- |
23/04/2018 |
|
4 |
1216968D |
PERFECT MULTI GREENS SDN. BHD. |
Director |
26/01/2017 |
30.00 |
30.00 |
- |
- |
- |
23/04/2018 |
|
5 |
1256782T |
RIMBUN DIMENSION JV SDN. BHD. |
Director |
21/11/2017 |
0.00 |
- |
- |
- |
- |
23/04/2018 |
|
6 |
450676V |
SR FOCUS SDN. BHD. |
Shareholder |
- |
15,000.00 |
50.00 |
MYR4,076.00 |
2006 |
- |
23/04/2018 |
|
7 |
801028T |
UNAVEZ SDN. BHD. |
Director |
28/12/2007 |
0.00 |
- |
MYR(870.00) |
2013 |
- |
23/04/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
858364W |
TIANGLAJU SERVICES SDN. BHD. |
Director |
26/05/2009 |
06/02/2015 |
- |
- |
|
2 |
858364W |
TIANGLAJU SERVICES SDN. BHD. |
Shareholder |
- |
- |
125000.00 |
- |
|
3 |
1040714V |
TUGASIA SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 2
|
Name Of Subject |
: |
MR. MIA IDORMAN BIN ISMAIL |
|
Address |
: |
1713, JALAN LINTANG ZOOVIEW, TAMAN ZOOVIEW, ULU KLANG, 68000
AMPANG, SELANGOR, MALAYSIA. |
|
Other Address(es) |
: |
31 JALAN SU2B, SERING UKAY, 68000 AMPANG, SELANGOR,
MALAYSIA. |
|
IC / PP No |
: |
A3304424 |
|
New IC No |
: |
760416-10-5335 |
|
Date of Birth |
: |
16/04/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
23/09/2014 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
see below |
|
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 |
1248478D |
BND ENERGY RESOURCES SDN. BHD. |
Director |
27/09/2017 |
0.00 |
- |
- |
2016 |
- |
23/04/2018 |
|
2 |
309033H |
DIMENSION BID (M) SDN. BHD. |
Director |
19/02/2013 |
0.00 |
- |
MYR(14,552,216.00) |
2016 |
- |
23/04/2018 |
|
3 |
1266404M |
ILMASCIENCE (M) SDN. BHD. |
Director |
30/01/2018 |
0.00 |
- |
- |
2016 |
- |
23/04/2018 |
|
4 |
58237M |
INC SDN. BHD. |
Director |
15/06/2017 |
0.00 |
- |
MYR(809.00) |
2017 |
- |
23/04/2018 |
|
5 |
153754H |
ISMAQ AGRICULTURE SDN BHD |
Director |
22/12/2011 |
0.00 |
- |
- |
2016 |
- |
23/04/2018 |
|
6 |
811874D |
NEU DIMENSION SDN. BHD. |
Director |
19/02/2013 |
250,000.00 |
5.00 |
MYR(17,637,270.00) |
2016 |
- |
23/04/2018 |
|
7 |
833908A |
NEU FORCE (M) SDN. BHD. |
Director |
18/08/2017 |
0.00 |
- |
MYR(227,866.00) |
2016 |
- |
23/04/2018 |
|
8 |
301146W |
NEURAL OILFIELD SERVICE SDN. BHD. |
Director |
23/09/2014 |
0.00 |
- |
MYR88,207.00 |
2016 |
- |
23/04/2018 |
|
9 |
1117929T |
ORION ESM SDN. BHD. |
Director |
13/11/2014 |
375,000.00 |
30.00 |
MYR(290,189.00) |
2016 |
- |
23/04/2018 |
|
10 |
883655U |
PERMODALAN M1 TENAGA SDN. BHD. |
Director |
05/05/2015 |
0.00 |
- |
MYR12,487.00 |
2012 |
- |
23/04/2018 |
|
11 |
1256782T |
RIMBUN DIMENSION JV SDN. BHD. |
Director |
21/11/2017 |
0.00 |
- |
- |
2016 |
- |
23/04/2018 |
INTEREST IN BUSINESS
|
No |
Local No |
Business |
Designation |
App Date |
Shareholding (%) |
Status |
As At |
|
1 |
002347839P |
IMI GEMILANG ENTERPRISE |
SOLE PROPRIETORSHIP |
31/07/2014 |
100.00 |
Expired |
23/04/2018 |
|
2 |
MA0065509A |
KUALA JEMAPOH BINA |
PARTNERSHIP |
18/06/2004 |
50.00 |
- |
23/04/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
1040714V |
TUGASIA SDN. BHD. |
Shareholder |
- |
- |
- |
- |
DIRECTOR 3
|
Name Of Subject |
: |
MR. BADROEL RIZWAN BIN BAHAR |
|
Address |
: |
2, JALAN 3/65, 46000 PETALING JAYA, SELANGOR, MALAYSIA. |
|
New IC No |
: |
760115-10-5147 |
|
Date of Birth |
: |
15/01/1976 |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
01/03/2015 |
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 |
301146W |
NEURAL OILFIELD SERVICE SDN. BHD. |
Director |
01/03/2015 |
0.00 |
- |
MYR88,207.00 |
2016 |
- |
23/04/2018 |
|
2 |
1114240T |
PROLIFIC ENERGY SERVICES SDN. BHD. |
Director |
20/10/2014 |
100,000.00 |
25.00 |
- |
- |
- |
23/04/2018 |
FORMER INTEREST
|
No |
Local No |
Company |
Designation |
App Date |
Withdrawn Date |
Shareholding |
Status |
|
1 |
681714M |
DAYA MAXFLO SDN. BHD. |
Director |
17/10/2011 |
05/06/2012 |
- |
- |
|
2 |
681714M |
DAYA MAXFLO SDN. BHD. |
Shareholder |
- |
- |
125000.00 |
- |
|
3 |
667752T |
HIGHLAND ENERGY PRODUCTS SDN. BHD. |
Director |
20/10/2011 |
22/10/2012 |
- |
- |
FORMER DIRECTOR(S) |
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
YACOB BIN ALI |
6,JALAN SS 22/28, DAMANSARA JAYA, PETALING JAYA,SELANGOR,
PETALING JAYA, SELANGOR, MALAYSIA |
530818-02-5545 |
30/09/1994 |
26/05/1999 |
|
MAZLAN BIN HAJI AHMAD |
NO. 17, JALAN KEBAYA 10/3, SHAH ALAM, SELANGOR, MALAYSIA |
660714-05-5083 |
31/01/2003 |
27/09/2011 |
|
FAYZA BINTI HASAN |
2B-5-1, SRI LOJING, SEKSYEN 10, WANGSA MAJU, KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA |
760601-14-5136 |
31/01/2003 |
19/07/2005 |
|
AZLAN CAMERON BIN AZIZ |
NO. 6, JALAN 5/19, SEKSYEN 5, PETALING JAYA, SELANGOR,
MALAYSIA |
870907-14-5347 |
05/09/2011 |
23/09/2014 |
|
AZIZ BIN AYOB |
6,JALAN 5/19, SECTION 5, PETALING JAYA,SELANGOR, PETALING
JAYA, SELANGOR, MALAYSIA |
530112-05-5021 |
19/05/1994 |
31/01/2003 |
Note : The above information was generated from our database.
MANAGEMENT |
|
1) |
Name of Subject |
: |
RAMBA ANAK GOYANG |
|
Position |
: |
DIRECTOR |
AUDITOR |
|
Auditor |
: |
SJ GRANT THORNTON |
|
Auditor' Address |
: |
LEVEL 11, SHERATON IMPERIAL COURT, JALAN SULTAN ISMAIL,
50250 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
MS. SHAHRIZAT BINTI OTHMAN |
|
IC / PP No |
: |
5277051 |
|
|
New IC No |
: |
571014-10-5874 |
|
|
Address |
: |
19, JALAN SS 1/39, KAMPUNG TUNKU, 47300 PETALING JAYA,
SELANGOR, MALAYSIA. |
BANKING |
No Banker found in our databank.
ENCUMBRANCE (S) |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
1 |
25/02/2004 |
MEMORANDUM
OF DEPOSIT |
BUMIPUTRACOMMERCE BANK BERHAD |
MYR 700,000.00 |
Unsatisfied |
|
2 |
24/01/2006 |
MEMORANDUM
OF DEPOSIT |
BUMIPUTRA-COMMERCE BANK BERHAD |
- |
Unsatisfied |
|
3 |
13/05/2010 |
GENERAL
FACILITY AGREEMENT |
CIMB BANK BERHAD |
MYR 2,000,000.00 |
Unsatisfied |
|
4 |
17/09/2015 |
MEMORANDUM
OF DEPOSIT |
AMBANK (M) BERHAD |
MYR 3,000,000.00 |
Unsatisfied |
|
5 |
27/10/2017 |
MEMORANDUM
OF CHARGE |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
6 |
06/12/2017 |
SUPPLEMENTAL
GENERAL FACILITY AGREEMENT |
CIMB 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.
RED ALERT FROM CENTRAL BANK OF MALAYSIA |
* A check has been conducted with the Central Bank of
Malaysia whether the Subject has carried out any illegal or suspicious
financial activities.
The Subject has not been carried out any illegal money
services business without licence under the Money Services Business Act 2011.
The Subject has not been placed under the Financial Consumer
Alert list by the Central Bank of Malaysia.
INVESTOR ALERT BY SECURITIES COMMISSION MALAYSIA & BURSA MALAYSIA |
* A check has been conducted with the Securities Commission
Malaysia whether the Subject has involved in any unlicensed capital market
activities under the Securities Laws and Bursa Malaysia should the Subject is
listed as Practice Note (PN) 17 or Guidance Note (GN) 3.
The Subject has not been carried out any unlicensed capital
market activities.
PAYMENT RECORD |
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SOURCES OF RAW MATERIALS: |
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Local |
: |
YES |
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Overseas |
: |
YES |
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 |
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Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
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|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
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CLIENTELE |
|
Local |
: |
YES |
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Domestic Markets |
: |
MALAYSIA |
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Overseas |
: |
YES |
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Export Market |
: |
ASIA |
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Credit Term |
: |
AS AGREED |
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Payment Mode |
: |
CHEQUES |
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OPERATIONS |
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Services |
: |
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Total Number of Employees: |
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|
YEAR |
2018 |
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COMPANY |
n/a |
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Branch |
: |
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Other Information:
The Subject is principally engaged in the (as a / as an) service provider for
the upstream activities in the oil exploration and production operations.
The Subject is a service provider for the upstream sector in the Exploration
& Production operations.
Range of services the Subject offers through alliances with well known
international companies and market leaders includes provisions of Drilling
Rigs, Well Completion Equipment & Services, Permanent Downhole Monitoring
System, Geological & Seismic Services, Well Leak Repair, Production
Enhancement - Rigless Well Intervention and Training & Development.
RECENT DEVELOPMENT |
We have checked with the Malaysian National News Agency's (BERNAMA) database,
but no recent development was noted during the time of inspection.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
03-41436566 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
OFF JALAN USAHAWAN NO 4-2 JALAN 9/23A 53200 SETAPARK, MY |
|
Current Address |
: |
NO 4-2,JALAN 9/23A, OFF JALAN USAHAWAN, SETAPAK, 53200
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Match |
: |
NO |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
we contacted one of
the staff from the Subject and he provided some information.
He refused to disclose the number of employees and bankers.
The address provided is incomplete.
FINANCIAL ANALYSIS |
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Profitability |
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Turnover |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
0.73% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
6.15% |
] |
|
|
The continuous fall in turnover could be due to the lower
demand for the Subject's products / services.The Subject's profit fell
sharply because of the high operating costs incurred. The unfavourable return
on shareholders' funds could indicate that the Subject was inefficient in
utilising its assets to generate returns. |
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Working Capital Control |
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Debtor Ratio |
: |
Unfavourable |
[ |
409 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
5113 Days |
] |
|
|
The Subject's debtors ratio was high. The Subject should
tighten its credit control and improve its collection period. The
unfavourable creditors' ratio could be due to the Subject taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the Subject and its suppliers and the Subject may inadvertently have
to pay more for its future supplies. |
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Liquidity |
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|
Liquid Ratio |
: |
Favourable |
[ |
3.08 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.08 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. |
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Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
6.63 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.09 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. |
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Overall Assessment : |
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The Subject's performance deteriorated over the years with
lower 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. |
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Overall financial condition of the Subject : FAIR |
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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 |
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|
** Forecast |
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|
# Based On Manufacturing Production Index |
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INDUSTRY ANALYSIS |
|
MSIC CODE |
|
|
061 : Extraction of crude petroleum |
|
|
INDUSTRY : |
OIL & GAS |
|
Malaysia has some 28.35 billion barrels of oil (BBOE)
reserves and about 1.2 per cent of the world's natural gas reserves (2.35
trillion cubic metres) of proven reserves. Malaysia has a current production
rate of 730,000 barrels per day of crude oil products. It is the
fourth-highest reserves in Asia-Pacific after China, India, and Vietnam.
Nearly all of Malaysia's oil comes from offshore fields. The continental
shelf is divided into three producing basins: the Malay basin offshore
peninsular Malaysia in the west and the Sarawak and Sabah basins in the east.
In 2011, the contribution from petroleum was 35.8% from total government
revenue, followed by 33.7% in 2012 and 31.2% in 2013. |
|
|
In 2014, production of crude oil is estimated to rebound
by 2.1% to 588,000 bpd (2013: -1.6%, 576,000 bpd). However, during the first
seven months of 2014, production of crude oil declined marginally by 0.7% to
582,156 barrels per day (bpd) (January - July 2013: 1%, 586,296 bpd), due
mainly to lower production from the maturing oil fields during the first
quarter. Nevertheless, output of crude oil expanded by 4% in the second
quarter of year 2014, driven by production enhancement efforts and
commencement of production from new oil fields. |
|
|
Furthermore, Malaysia's gas production is estimated to
increase 0.4% to 6,298 mmscfd in 2014 (2013: 6,271 mmscfd). However,
production of natural gas declined marginally by 0.4% to 6,275 million
standard cubic feet per day (mmscfd) during the first seven months of 2014
(January - July 2013: 7.9%, 6,303 mmscfd) due to the sharp decline in natural
gas production in July 2014 (-17.3%). The gas consumption over the first six
months in year 2014 has increased 5.8% to 71.5 million British thermal unit
(Btu) (January - June 2013: 8.8%, 67.6 million Btu) with gas sales rising
12.8% to RM1.2 million (January - June 2013: 8.8%, Rm1.1 million). |
|
|
Moreover, Gas Malaysia Berhad will build a natural gas
pipeline in two new industrial areas in 2014, which are Terengganu and Johor.
The availability of natural gas pipeline in new industries areas will
encourage investors to use natural gas, hence increasing its usage. In
addition, the shift from oil-based fuels such as diesel and medium fuel oil
to natural gas by the industry will also help reduce air pollution. On the
other hand, Petronas continues to actively explore new fields in Malaysia, as
at end of March 2014, exploration activity involved six fields in Sarawak and
one in Peninsular Malaysia. |
|
|
The Pengerang oil storage terminal in Johor, Malaysia's
largest commercial oil storage facility has started operations in early 2014.
It will have a storage capacity of more than 10 million barrels to house
crude oil and oil products by the end of 2014 with a potential to expand to
41 million barrels in the future. This terminal bolstered southern Malaysia's
oil storage capacity by 70% to more than 25 million barrels. |
|
|
The Government of Malaysia also contributes significantly
towards policy and macro-economic planning to secure a sustainable and
long-term success of the oil and gas industry. The Government's main
objective is to increase aggregate production capacity by 5% every year up to
2020 to meet domestic demand growth while sustaining crude oil and LNG
exports to overseas markets. In the Asia Pacific region, Malaysia aims to be
the number one oil and gas hub by 2017, taking advantage of its strategic
location at key shipping lanes as well as strong economic fundamentals in
China, India and within Southeast Asia. |
|
|
Starting from Dec 1, 2014, Malaysia will abolish subsidies
for gasoline and diesel due to the falling oil prices. The cost of the widely
used RON 95 grade of gasoline and diesel will be based on a managed float
system. According to Prime Minister Datuk Seri Najib Razak, the savings from
fuel subsidies following the introduction of the managed float system can be
used for socio-economic development to benefit the people. Citing the recent
drop in the price of RON97 petrol as an example, Najib said the managed float
system would enable the government to make fuel-price adjustments quicker to
help the rakyat. He said the savings from fuel subsidies could be channeled
to other sectors, such as agriculture, education and health, which would
directly benefit the people. |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
Financials
|
PROFIT AND LOSS ACCOUNT |
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
MALAYSIAN FINANCIAL REPORTING STANDARDS(FRS) |
|
NEURAL OILFIELD SERVICE 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 |
5,488,092 |
7,391,048 |
10,600,288 |
10,872,709 |
8,666,720 |
|
Other Income |
- |
- |
- |
- |
205,286 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
5,488,092 |
7,391,048 |
10,600,288 |
10,872,709 |
8,872,006 |
|
Costs of Goods Sold |
(327,205) |
(235,094) |
(759,554) |
(702,571) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
5,160,887 |
7,155,954 |
9,840,734 |
10,170,138 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
631,289 |
2,686,815 |
5,083,230 |
4,507,731 |
2,908,020 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
631,289 |
2,686,815 |
5,083,230 |
4,507,731 |
2,908,020 |
|
Taxation |
(543,082) |
(425,016) |
(2,327,738) |
(2,138,998) |
(619,280) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
88,207 |
2,261,799 |
2,755,492 |
2,368,733 |
2,288,740 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
11,697,737 |
10,435,938 |
9,680,446 |
8,811,713 |
7,929,223 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
11,697,737 |
10,435,938 |
9,680,446 |
8,811,713 |
7,929,223 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
11,785,944 |
12,697,737 |
12,435,938 |
11,180,446 |
10,217,963 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(1,000,000) |
(2,000,000) |
(1,500,000) |
(1,406,250) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
11,785,944 |
11,697,737 |
10,435,938 |
9,680,446 |
8,811,713 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
367 |
613 |
4,591 |
9,943 |
7,831 |
|
Hire purchase |
- |
- |
- |
- |
7,344 |
|
Lease interest |
111,799 |
91,694 |
37,354 |
15,634 |
- |
|
Others |
- |
- |
- |
148,616 |
18,554 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
112,166 |
92,307 |
41,945 |
174,193 |
33,729 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
788,883 |
669,244 |
512,313 |
366,032 |
197,911 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
788,883 |
669,244 |
512,313 |
366,032 |
197,911 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
NEURAL OILFIELD SERVICE SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,687,586 |
2,319,335 |
1,691,745 |
1,971,987 |
1,190,300 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Deferred assets |
52,000 |
59,613 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
52,000 |
59,613 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,739,586 |
2,378,948 |
1,691,745 |
1,971,987 |
1,190,300 |
|
CURRENT ASSETS |
|||||
|
Trade debtors |
6,149,052 |
9,197,976 |
12,271,732 |
4,052,808 |
13,352,206 |
|
Other debtors, deposits & prepayments |
343,984 |
760,326 |
304,590 |
150,383 |
241,498 |
|
Short term deposits |
4,564,363 |
2,864,750 |
2,349,857 |
2,003,690 |
1,752,420 |
|
Amount due from holding company |
210,780 |
217,116 |
- |
- |
- |
|
Amount due from related companies |
3,186,686 |
721,028 |
16,069 |
4,161,328 |
2,404,363 |
|
Cash & bank balances |
2,148,137 |
8,665,218 |
6,100,381 |
7,609,251 |
6,860,266 |
|
Others |
276,884 |
37,978 |
170,051 |
79,446 |
123,359 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
16,879,886 |
22,464,392 |
21,212,680 |
18,056,906 |
24,734,112 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
18,619,472 |
24,843,340 |
22,904,425 |
20,028,893 |
25,924,412 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
4,583,225 |
10,260,823 |
8,689,406 |
8,622,993 |
13,783,837 |
|
Other creditors & accruals |
453,993 |
650,650 |
1,147,557 |
885,617 |
1,189,787 |
|
Hire purchase & lease creditors |
- |
- |
- |
- |
51,415 |
|
Bank overdraft |
- |
61,630 |
- |
86,428 |
85,526 |
|
Amounts owing to holding company |
- |
- |
4,452 |
- |
10,000 |
|
Amounts owing to related companies |
- |
- |
124,221 |
- |
- |
|
Provision for taxation |
- |
- |
1,087,451 |
- |
- |
|
Dividends payable/proposed |
- |
- |
- |
- |
1,406,250 |
|
Lease payables |
440,253 |
415,581 |
223,250 |
41,747 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,477,471 |
11,388,684 |
11,276,337 |
9,636,785 |
16,526,815 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
11,402,415 |
11,075,708 |
9,936,343 |
8,420,121 |
8,207,297 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Lease obligations |
1,056,057 |
1,456,919 |
850,150 |
265,662 |
- |
|
Hire purchase creditors |
- |
- |
- |
- |
233,777 |
|
Deferred taxation |
- |
- |
42,000 |
146,000 |
52,107 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,056,057 |
1,456,919 |
892,150 |
411,662 |
285,884 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
12,085,944 |
11,997,737 |
10,735,938 |
9,980,446 |
9,111,713 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
300,000 |
300,000 |
300,000 |
300,000 |
300,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
300,000 |
300,000 |
300,000 |
300,000 |
300,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
11,785,944 |
11,697,737 |
10,435,938 |
9,680,446 |
8,811,713 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
11,785,944 |
11,697,737 |
10,435,938 |
9,680,446 |
8,811,713 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
12,085,944 |
11,997,737 |
10,735,938 |
9,980,446 |
9,111,713 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCIAL RATIO |
|
NEURAL OILFIELD SERVICE SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
6,712,500 |
11,529,968 |
8,450,238 |
9,612,941 |
8,612,686 |
|
Net Liquid Funds |
6,712,500 |
11,468,338 |
8,450,238 |
9,526,513 |
8,527,160 |
|
Net Liquid Assets |
11,402,415 |
11,075,708 |
9,936,343 |
8,420,121 |
8,207,297 |
|
Net Current Assets/(Liabilities) |
11,402,415 |
11,075,708 |
9,936,343 |
8,420,121 |
8,207,297 |
|
Net Tangible Assets |
12,085,944 |
11,997,737 |
10,735,938 |
9,980,446 |
9,111,713 |
|
Net Monetary Assets |
10,346,358 |
9,618,789 |
9,044,193 |
8,008,459 |
7,921,413 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
743,455 |
2,779,122 |
5,125,175 |
4,681,924 |
2,941,749 |
|
Earnings Before Interest, Taxes, Depreciation And
Amortization (EBITDA) |
1,532,338 |
3,448,366 |
5,637,488 |
5,047,956 |
3,139,660 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
1,056,057 |
1,518,549 |
850,150 |
352,090 |
370,718 |
|
Total Liabilities |
6,533,528 |
12,845,603 |
12,168,487 |
10,048,447 |
16,812,699 |
|
Total Assets |
18,619,472 |
24,843,340 |
22,904,425 |
20,028,893 |
25,924,412 |
|
Net Assets |
12,085,944 |
11,997,737 |
10,735,938 |
9,980,446 |
9,111,713 |
|
Net Assets Backing |
12,085,944 |
11,997,737 |
10,735,938 |
9,980,446 |
9,111,713 |
|
Shareholders' Funds |
12,085,944 |
11,997,737 |
10,735,938 |
9,980,446 |
9,111,713 |
|
Total Share Capital |
300,000 |
300,000 |
300,000 |
300,000 |
300,000 |
|
Total Reserves |
11,785,944 |
11,697,737 |
10,435,938 |
9,680,446 |
8,811,713 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(25.75) |
(30.28) |
(2.51) |
25.45 |
(71.23) |
|
Proft/(Loss) Before Tax |
(76.50) |
(47.14) |
12.77 |
55.01 |
465.06 |
|
Proft/(Loss) After Tax |
(96.10) |
(17.92) |
16.33 |
3.50 |
289.65 |
|
Total Assets |
(25.05) |
8.47 |
14.36 |
(23.29) |
80.40 |
|
Total Liabilities |
(49.14) |
5.56 |
21.10 |
(40.85) |
173.76 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
1.23 |
1.01 |
0.75 |
1.00 |
0.52 |
|
Liquid Ratio |
3.08 |
1.97 |
1.88 |
1.87 |
1.50 |
|
Current Ratio |
3.08 |
1.97 |
1.88 |
1.87 |
1.50 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Debtors Ratio |
409 |
454 |
423 |
136 |
562 |
|
Creditors Ratio |
5,113 |
15,931 |
4,176 |
4,480 |
581 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.09 |
0.13 |
0.08 |
0.04 |
0.04 |
|
Liabilities Ratio |
0.54 |
1.07 |
1.13 |
1.01 |
1.85 |
|
Times Interest Earned Ratio |
6.63 |
30.11 |
122.19 |
26.88 |
87.22 |
|
Assets Backing Ratio |
40.29 |
39.99 |
35.79 |
33.27 |
30.37 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
11.50 |
36.35 |
47.95 |
41.46 |
33.55 |
|
Net Profit Margin |
1.61 |
30.60 |
25.99 |
21.79 |
26.41 |
|
Return On Net Assets |
6.15 |
23.16 |
47.74 |
46.91 |
32.29 |
|
Return On Capital Employed |
5.66 |
20.56 |
44.08 |
44.68 |
30.85 |
|
Return On Shareholders' Funds/Equity |
0.73 |
18.85 |
25.67 |
23.73 |
25.12 |
|
Dividend Pay Out Ratio (Times) |
- |
0.44 |
0.73 |
0.63 |
0.61 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 60.53 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
|
MYR |
1 |
INR 17.09 |
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.