|
|
|
MIRA
INFORM REPORT
|
Report No. : |
508154 |
|
Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
NOVALITE SDN. BHD. |
|
|
|
|
Registered Office : |
25A, Jalan Jejaka 5, Taman Maluri, Cheras, 55100 Kuala
Lumpur, Wilayah Persekutuan |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
11.01.1992 |
|
|
|
|
Com. Reg. No.: |
232284-V |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is engaged in the trading of machine, car air
conditioner part and its related products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
MALAYSIA - ECONOMIC
OVERVIEW
Malaysia, an upper middle-income country, has transformed itself since the 1970s from a producer of raw materials into a multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move further up the value-added production chain by attracting investments in high technology, knowledge-based industries and services. NAJIB's Economic Transformation Program is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.
The NAJIB administration is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Domestic demand continues to anchor economic growth, supported mainly by private consumption, which accounts for 53% of GDP. Nevertheless, exports - particularly of electronics, oil and gas, and palm oil - remain a significant driver of the economy. In 2015, gross exports of goods and services were equivalent to 73% of GDP. The oil and gas sector supplied about 22% of government revenue in 2015, down significantly from prior years amid a decline in commodity prices and diversification of government revenues. Malaysia has embarked on a fiscal reform program aimed at achieving a balanced budget by 2020, including rationalization of subsidies and the 2015 introduction of a 6% value added tax. Sustained low commodity prices throughout the period not only strained government finances, but also shrunk Malaysia’s current account surplus and weighed heavily on the Malaysian ringgit, which was among the region’s worst performing currencies during 2013-17. The ringgit hit new lows following the US presidential election amid a broader selloff of emerging market assets.
Bank Negara Malaysia (the central bank) maintains adequate foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments, although it remains vulnerable to volatile global capital flows. In order to increase Malaysia’s competitiveness, Prime Minister NAJIB raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program, policies that favor and advance the economic condition of ethnic Malays.
Malaysia signed the 12-nation Trans-Pacific Partnership (TPP) free trade agreement in February 2016, although the future of the TPP remains unclear following the US withdrawal from the agreement. Along with nine other ASEAN members, Malaysia established the ASEAN Economic Community in 2015, which aims to advance regional economic integration.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
232284-V |
||||
|
GST NO. |
: |
001006329856 |
||||
|
COMPANY NAME |
: |
NOVALITE SDN. BHD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
11/01/1992 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
25A, JALAN JEJAKA 5, TAMAN MALURI, CHERAS, 55100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
||||
|
BUSINESS ADDRESS |
: |
LOT 10, JALAN API-API 26/1, HICOM INDUSTRIAL ESTATE, SECTION 26,
40400 SHAH ALAM, SELANGOR, MALAYSIA. |
||||
|
TEL.NO. |
: |
03-51911558 |
||||
|
FAX.NO. |
: |
03-51921582 |
||||
|
CONTACT PERSON |
: |
HIROMICHI NOZAKI ( DIRECTOR ) |
||||
|
INDUSTRY CODE |
: |
465 |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF MACHINE, CAR AIR CONDITIONER PART AND ITS RELATED
PRODUCTS |
||||
|
AUTHORISED CAPITAL |
: |
MYR 500,000.00 DIVIDED INTO |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
MYR 170,000.00 DIVIDED INTO |
||||
|
SALES |
: |
MYR 2,222,742 [2016] |
||||
|
NET WORTH |
: |
MYR 251,037 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
DEFAULTER CHECK |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
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) trading
of machine, car air conditioner part and its related products.
The Subject is not listed on Bursa Malaysia (Malaysia Stock
Exchange).
Former Address(es)
|
Address |
As At Date |
|
NO 12,JLN TP 7/6, TMN P'INDUSTRIAN UEP, 40000, SELANGOR,
MALAYSIA |
15/02/2013 |
|
19A, JALAN JEJAKA 5, TAMAN MALURI, CHERAS, 55100, WILAYAH
PERSEKUTUAN, MALAYSIA |
31/08/1995 |
|
LOT 12 JLN SS25/28, TMN MAYANG, 47301, SELANGOR, MALAYSIA |
N/A |
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
06/02/1996 |
MYR 500,000.00 |
MYR 170,000.00 |
|
11/01/1992 |
MYR 500,000.00 |
MYR 2.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
HIROMICHI NOZAKI + |
17-16-1, MAJESTIC TOWER, MONT KIARA PALMA, JALAN KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
TR9560132 |
85,000.00 |
50.00 |
|
SATOSHI TANISAWA + |
17-16-1, MAJESTIC TOWER, MON'T KIARA PALMA, JALAN KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
TR5911976 |
85,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
170,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
Former Shareholder(s) :
|
Name |
Country |
IC/PP/Loc No |
Shareholding |
Last Updated |
|
CHEAH CHEE TEEN |
MALAYSIA |
560606-10-5049 |
30,000.00 |
N/A |
|
MARJORIE MARGARET WOODWORTH |
MALAYSIA |
550305-05-5448 |
70,000.00 |
N/A |
|
ONG BEE CHU |
MALAYSIA |
541222-08-5970 |
70,000.00 |
N/A |
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
242918H |
MALAYSIA |
NADA IKHLAS SDN. BHD. |
- |
22.22 |
23/04/2018 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
RYO ORITO |
|
Address |
: |
17-16-1, MAJESTIC TOWER, MONT' KIARA PALMA, JALAN KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TZ1080459 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
26/08/2015 |
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 |
242918H |
NADA IKHLAS SDN. BHD. |
Director |
16/07/2015 |
0.00 |
- |
MYR(6,009.00) |
2017 |
- |
23/04/2018 |
|
2 |
232284V |
NOVALITE SDN. BHD. |
Director |
26/08/2015 |
0.00 |
- |
MYR79,979.00 |
2016 |
- |
23/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
HIROMICHI NOZAKI |
|
Address |
: |
17-16-1, MAJESTIC TOWER, MONT KIARA PALMA, JALAN KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
IC / PP No |
: |
TR9560132 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/11/2011 |
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 |
242918H |
NADA IKHLAS SDN. BHD. |
Director |
24/11/2011 |
17,500.00 |
38.89 |
MYR(6,009.00) |
2017 |
- |
23/04/2018 |
|
2 |
232284V |
NOVALITE SDN. BHD. |
Director |
24/11/2011 |
85,000.00 |
50.00 |
MYR79,979.00 |
2016 |
- |
23/04/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
SATOSHI TANISAWA |
|
Address |
: |
17-16-1, MAJESTIC TOWER, MON'T KIARA PALMA, JALAN KIARA, 50480
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
Other Address(es) |
: |
LOT 7 JALAN API-API 26/1, HICOM INDUSTRIAL ESTATE, 40400 SHAH
ALAM, SELANGOR, MALAYSIA. |
|
IC / PP No |
: |
TR5911976 |
|
Date of Birth |
: |
06/06/1967 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/11/2011 |
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 |
242918H |
NADA IKHLAS SDN. BHD. |
Director |
24/11/2011 |
17,500.00 |
38.89 |
MYR(6,009.00) |
2017 |
- |
23/04/2018 |
|
2 |
232284V |
NOVALITE SDN. BHD. |
Director |
24/11/2011 |
85,000.00 |
50.00 |
MYR79,979.00 |
2016 |
- |
23/04/2018 |
FORMER DIRECTOR(S) |
|
Name |
Address |
IC/PP No |
Appointed Date |
Withdrawn Date |
|
SHIGERU TAKEMOTO |
NO.4,JALAN 22/55, PETALING JAYA,SELANGOR, PETALING JAYA,
SELANGOR, MALAYSIA |
MH7306171 |
05/06/1992 |
02/07/1996 |
|
TSUBOSAKA TOSHIHIKO |
4-7-1, MIKOOKAMAE, HIMEIJI-CITY, HYOGO-KEN, 670-0055, JAPAN |
TG7209659 |
01/07/2010 |
24/11/2011 |
|
SHINYA HIRAISHI |
1-04-2 SAUJANAN VILLA, SAUJANA RESORT, SECT.U2, SHAH ALAM, SHAH
ALAM, SELANGOR, MALAYSIA |
MZ0050278 |
02/07/1996 |
20/06/2001 |
|
ONG BEE CHU |
S/5, LORONG KENANGA 1/5, TAMAN PERMAI, SEMENYIH, SELANGOR,
MALAYSIA |
541222-08-5970 |
29/06/2001 |
24/11/2011 |
|
ONG BEE CHIN |
NO. 48, PERSIARAN DESA AMAN, TAMAN DESA AMAN, JALAN CHERAS,
KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
510322-08-5052 |
05/05/2000 |
29/06/2001 |
|
MOHAMMED YASSIN B.ABDUL MALEK |
34,SEC.6/1A, SHAH ALAM, SHAH ALAM, SELANGOR, MALAYSIA |
0450006 |
16/03/1992 |
15/10/1994 |
|
MASAHITO HIRAISHI |
1-04-2,SAUJANA VILLA, SAUJANA RESORT,SEC.U2, SHAH ALAM, SHAH
ALAM, SELANGOR, MALAYSIA |
TF1020698 |
05/06/1992 |
29/06/2001 |
|
MITSURU ISHIMOTO |
LOT 7 JALAN API-API 26/1, HICOM INDUSTRIAL ASTATE, SHAH ALAM,
SELANGOR, MALAYSIA |
TZ0787316 |
29/06/2001 |
06/05/2002 |
|
MARJORIE MARGARET WOODWORTH |
20 JALAN PJS 9/16, BANDAR SUNWAY, PETALING JAYA, SELANGOR,
MALAYSIA |
550305-05-5448 |
06/05/2002 |
24/11/2011 |
|
KIT LEW LIN |
NO.48,JALAN 12/101, TMN.DESA AMAN, CHERAS, KUALA LUMPUR., KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
471104-05-5083 |
11/01/1992 |
29/06/2001 |
|
CHEAH CHEE TEEN |
NO.6,JALAN 14/49, PETALING JAYA, SELANGOR., PETALING JAYA,
SELANGOR, MALAYSIA |
560606-10-5049 |
11/01/1992 |
24/11/2011 |
|
YUSUKE ISHINO |
B-13A-2, VENUS TOWER, MONT\' KIARA PELANGI, JALAN KIARA, KUALA
LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA |
TH0371914 |
18/08/2014 |
26/08/2015 |
Note : The above information was generated from our database.
MANAGEMENT |
|
1) |
Name of Subject |
: |
HIROMICHI NOZAKI |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR |
|
Auditor |
: |
AZMAN, WONG, SALLEH & CO. |
|
Auditor' Address |
: |
12TH FLOOR, WISMA TUN SAMBANTHAN, 2, JALAN SULTAN SULAIMAN,
50764 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
MS. CHOONG WAI FONG |
|
IC / PP No |
: |
6881392 |
|
|
New IC No |
: |
620529-10-6436 |
|
|
Address |
: |
6, JALAN MEGA 10, TAMAN MEGA JAYA, CHERAS, 56100 KUALA LUMPUR,
WILAYAH PERSEKUTUAN, MALAYSIA. |
|
|
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE (S) |
No encumbrance was found in our databank at the time of investigation.
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT |
* A check has been conducted in our databank 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 |
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import Countries |
: |
JAPAN,THAILAND |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
MALAYSIA |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
MACHINE, CAR AIR CONDITIONER PART AND ITS RELATED PRODUCTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of machine,
car air conditioner part and its related products.
The Subject sells the products based on customer's demands and requirement.
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 |
: |
03-51911558 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LOT 10, JALAN API-API 26/1, HICOM INDUSTRIAL ESTATE, SECTION 26,
40400 SHAH ALAM, SELANGOR DARUL EHSAN |
|
Current Address |
: |
LOT 10, JALAN API-API 26/1, HICOM INDUSTRIAL ESTATE, SECTION 26,
40400 SHAH ALAM, SELANGOR, MALAYSIA. |
|
Match |
: |
YES |
|
Latest Financial Accounts |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject, Ms Stacy and
she provided some information.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS |
|
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
31.86% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
31.86% |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.The management had succeeded in turning
the Subject into a profit making company. The profit could be due to better
control of its operating costs and efficiency in utilising its resources.
Generally the Subject was profitable. The favourable return on shareholders'
funds and return on net assets indicate that the Subject's management was
efficient in utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Unfavourable |
[ |
1790 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
1814 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. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.02 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.02 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 : |
||||||
|
The Subject's turnover showed a volatile trend but its losses
were lower when compared to the previous corresponding period. This could
suggest that the Subject was more efficient in its operating cost control and
was more competitive. 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 : STABLE |
||||||
|
|
||||||
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 |
|
|
465 : Wholesale of machinery, equipment and supplies |
|
|
INDUSTRY : |
MACHINERY |
|
Malaysia is presently the
leading manufacturer of automation machinery and equipment (M&E) in the
ASEAN region with a total of 22 companies in production. The machinery and
equipment industry assumes an important role in the industrial development of
the country, in view of its extensive linkages to major economic sectors,
such as manufacturing, construction, transportation, mining and agriculture.
The industry supports a large number of Small and Medium Enterprises (SMEs),
which are capable of producing machinery and equipment for both domestic and
export markets. In turn, the industry is supported by a wide range of
important engineering services, which mainly involve SMEs. |
|
|
Exports of machinery,
appliances and parts continued to post double-digit growth of 14.3% driven
largely by specialized machinery for specific industries, particularly for
civil engineering as well as the manufacture of semiconductors and parts. In
addition, higher demand also emanated from general industrial machinery and
equipment, particularly heating and cooling equipment as well as pumps,
compressors, fans and parts. Key export destinations for machinery,
appliances and parts were Singapore, Thailand, the US, China and Vietnam. |
|
|
In 2015, machinery and
equipment investment turned around to record a positive growth of 5.8%.
According to MATRADE Malaysia, the exports of machinery, appliances and parts
to Japan had increased by RM98 million in 2015 compared to 2014. However,
export to China is decreased in 2015. Moreover, Machinery, appliances and
parts also one of the major import products in Malaysia that is 8.9% of all
total import products. |
|
|
Under Budget 2016, Government
will focus into chemical, electrical and electronics, machinery and
equipment, aerospace and medical devices industries as well as services. For
this, RM730 million is allocated to funds under the Malaysian Investment
Development Authority (MIDA). |
|
|
The Government has identified
the M&E industry to be one of the key areas for growth and development.
The growth will focus on the manufacture of high value-added and high technology
M&E. For the further development of the M&E industry, six strategic
thrusts have been set during the Third Industrial Master Plan (IMP3), 2006 -
2020 period:- |
|
|
- Promoting Malaysia as a
regional production, trading and distribution centre for M&E |
|
|
- Rising the development and
promotion of selected specialized and high technology M&E |
|
|
- Strengthening the engineering
support industries and support services |
|
|
- Developing Malaysian
Standards for machinery and equipment |
|
|
- Developing sufficient highly skilled
workforce |
|
|
- Strengthening the
institutional support for the further development of the industry |
|
|
OVERALL INDUSTRY OUTLOOK : Average Growth |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
PROFIT AND LOSS ACCOUNT |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH MALAYSIAN
FINANCIAL REPORTING STANDARDS(FRS) |
|
NOVALITE 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 |
2,222,742 |
5,680,470 |
4,408,389 |
5,771,313 |
18,699,905 |
|
Other Income |
94,448 |
72,000 |
12,050 |
34,199 |
202,664 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,317,190 |
5,752,470 |
4,420,439 |
5,805,512 |
18,902,569 |
|
Costs of Goods Sold |
(2,174,982) |
(5,702,603) |
(4,360,246) |
(5,671,314) |
(18,840,102) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
142,208 |
49,867 |
60,193 |
134,198 |
62,467 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
79,979 |
(114,862) |
6,646 |
64,606 |
34,041 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
79,979 |
(114,862) |
6,646 |
64,606 |
34,041 |
|
Taxation |
- |
(181) |
(6,738) |
(4,656) |
(9,541) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
79,979 |
(115,043) |
(92) |
59,950 |
24,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,058 |
116,101 |
116,193 |
56,243 |
31,743 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,058 |
116,101 |
116,193 |
56,243 |
31,743 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
81,037 |
1,058 |
116,101 |
116,193 |
56,243 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
81,037 |
1,058 |
116,101 |
116,193 |
56,243 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE SHEET |
|
|
|
NOVALITE SDN. BHD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
- |
- |
- |
- |
8 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Associated companies |
16,000 |
16,000 |
16,000 |
16,000 |
16,000 |
|
Investments |
30,000 |
30,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
46,000 |
46,000 |
16,000 |
16,000 |
16,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
46,000 |
46,000 |
16,000 |
16,000 |
16,008 |
|
CURRENT ASSETS |
|||||
|
Stocks |
- |
- |
40,019 |
- |
177,825 |
|
Trade debtors |
10,903,054 |
11,322,335 |
11,137,491 |
13,124,739 |
15,503,389 |
|
Other debtors, deposits & prepayments |
150 |
67,024 |
196,391 |
60,260 |
152,929 |
|
Amount due from associated companies |
- |
- |
- |
50,000 |
150,000 |
|
Cash & bank balances |
127,652 |
237,037 |
50,551 |
468,421 |
611,975 |
|
Others |
11,969 |
13,769 |
28,590 |
39,020 |
59,118 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
11,042,825 |
11,640,165 |
11,453,042 |
13,742,440 |
16,655,236 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
11,088,825 |
11,686,165 |
11,469,042 |
13,758,440 |
16,671,244 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
10,809,452 |
11,478,067 |
11,039,210 |
13,442,988 |
16,398,366 |
|
Other creditors & accruals |
28,336 |
37,040 |
143,731 |
29,259 |
46,635 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
10,837,788 |
11,515,107 |
11,182,941 |
13,472,247 |
16,445,001 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
205,037 |
125,058 |
270,101 |
270,193 |
210,235 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
TOTAL NET ASSETS |
251,037 |
171,058 |
286,101 |
286,193 |
226,243 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
170,000 |
170,000 |
170,000 |
170,000 |
170,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
170,000 |
170,000 |
170,000 |
170,000 |
170,000 |
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
81,037 |
1,058 |
116,101 |
116,193 |
56,243 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
81,037 |
1,058 |
116,101 |
116,193 |
56,243 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
251,037 |
171,058 |
286,101 |
286,193 |
226,243 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
|
|
NOVALITE SDN. BHD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
127,652 |
237,037 |
50,551 |
468,421 |
611,975 |
|
Net Liquid Funds |
127,652 |
237,037 |
50,551 |
468,421 |
611,975 |
|
Net Liquid Assets |
205,037 |
125,058 |
230,082 |
270,193 |
32,410 |
|
Net Current Assets/(Liabilities) |
205,037 |
125,058 |
270,101 |
270,193 |
210,235 |
|
Net Tangible Assets |
251,037 |
171,058 |
286,101 |
286,193 |
226,243 |
|
Net Monetary Assets |
205,037 |
125,058 |
230,082 |
270,193 |
32,410 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
79,979 |
(114,862) |
6,646 |
64,606 |
34,041 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
79,979 |
(114,862) |
6,646 |
64,606 |
34,041 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Liabilities |
10,837,788 |
11,515,107 |
11,182,941 |
13,472,247 |
16,445,001 |
|
Total Assets |
11,088,825 |
11,686,165 |
11,469,042 |
13,758,440 |
16,671,244 |
|
Net Assets |
251,037 |
171,058 |
286,101 |
286,193 |
226,243 |
|
Net Assets Backing |
251,037 |
171,058 |
286,101 |
286,193 |
226,243 |
|
Shareholders' Funds |
251,037 |
171,058 |
286,101 |
286,193 |
226,243 |
|
Total Share Capital |
170,000 |
170,000 |
170,000 |
170,000 |
170,000 |
|
Total Reserves |
81,037 |
1,058 |
116,101 |
116,193 |
56,243 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(60.87) |
28.86 |
(23.62) |
(69.14) |
320.06 |
|
Proft/(Loss) Before Tax |
169.63 |
(1,828.29) |
(89.71) |
89.79 |
345.66 |
|
Proft/(Loss) After Tax |
169.52 |
(124,946.74) |
(100.15) |
144.69 |
248.67 |
|
Total Assets |
(5.11) |
1.89 |
(16.64) |
(17.47) |
281.23 |
|
Total Liabilities |
(5.88) |
2.97 |
(16.99) |
(18.08) |
294.24 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.01 |
0.02 |
0 |
0.03 |
0.04 |
|
Liquid Ratio |
1.02 |
1.01 |
1.02 |
1.02 |
1.00 |
|
Current Ratio |
1.02 |
1.01 |
1.02 |
1.02 |
1.01 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
- |
- |
3 |
- |
3 |
|
Debtors Ratio |
1,790 |
728 |
922 |
830 |
303 |
|
Creditors Ratio |
1,814 |
735 |
924 |
865 |
318 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Liabilities Ratio |
43.17 |
67.32 |
39.09 |
47.07 |
72.69 |
|
Assets Backing Ratio |
1.48 |
1.01 |
1.68 |
1.68 |
1.33 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
3.60 |
(2.02) |
0.15 |
1.12 |
0.18 |
|
Net Profit Margin |
3.60 |
(2.03) |
0 |
1.04 |
0.13 |
|
Return On Net Assets |
31.86 |
(67.15) |
2.32 |
22.57 |
15.05 |
|
Return On Capital Employed |
31.86 |
(67.15) |
2.32 |
22.57 |
15.05 |
|
Return On Shareholders' Funds/Equity |
31.86 |
(67.25) |
(0.03) |
20.95 |
10.83 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.53 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
|
MYR |
1 |
INR 17.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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.