Borrower ID:
258783
Inv Financing ID:
MBIF-19040005
Date Started:
3 April 2019
Closing Date:
TBC
Invoice Financing Wholesale (Notified) Fact Sheet
Details
Recommended Quantum
Terms of Payment (days)
Interest Rate
Interest Rate P.A.
Security
Disclosure
Line limit
Previous drawdown
RM120,000.00
120
4.00%
12.00%
Invoice & Director's Personal Guarantee
Notified
RM3,500,000.00
1. MBIF-18110002 - RM220,000.00, disbursed on 7/11/18; Principal outstanding:
RM0.00
2. MBIF-18110009 - RM194,000.00, disbursed on 21/11/18; Principal outstanding:
RM0.00
3. MBIF-18110017 - RM160,000.00, disbursed on 29/11/18; Principal outstanding:
RM0.00
4. MBIF-18110019 - RM322,000.00, disbursed on 10/12/18; Principal outstanding:
RM0.00
5. MBIF-18120003 - RM363,000.00, disbursed on 11/12/18; Principal outstanding:
RM0.00
6. MBIF-18120004 - RM363,000.00, disbursed on 12/12/18; Principal outstanding:
RM241,721.60
7. MBIF-18120014 - RM190,000.00, disbursed on 24/12/18; Principal outstanding:
RM0.00
8. MBIF-18120018 - RM240,000.00, disbursed on 02/01/19; Principal outstanding:
RM240,000.00
9. MBIF-19010004 - RM205,000.00, disbursed on 17/01/19; Principal outstanding:
RM0.00
10. MBIF-19010012 - RM156,000.00, disbursed on 25/01/19; Principal outstanding:
RM0.00
11. MBIF-19020003 - RM140,000.00, disbursed on 18/02/19; Principal outstanding:
RM20,499.30
12. MBIF-19020012 - RM202,000.00, disbursed on 25/02/19; Principal outstanding:
RM202,000.00
13. MBIF-19020015 - RM161,000.00, disbursed on 26/02/19; Principal outstanding:
RM117,083.20
14. MBIF-19030002 - RM280,000.00, disbursed on 05/03/19; Principal outstanding:
RM280,000.00
15. MBIF-19030005 - RM65,000.00, disbursed on 12/03/19; Principal outstanding:
RM60,360.00
16. MBIF-19030009 - RM377,000.00, disbursed on 13/03/19; Principal outstanding:
RM377,000.00
17. MBIF-19030021 - RM204,000.00, disbursed on 22/3/19; Principal outstanding:
RM204,000.00
18. MBIF-19030031 - RM170,000.00, disbursed on 29/3/19; Principal oustanding:
RM170,000.00
This targeted drawdown
Unutilise line
Existing Exposure
Total Exposure
Note:
1.
2.
1. MBBT-18040023 - monthly with final repayment due 22/04/19; outstanding:
2. MBIF-18120004 - repayment due 10/04/19; Principal + projected interest outstanding:
3. MBIF-18120018 - repayment due 01/05/19; Principal + projected interest outstanding:
4. MBIF-19020003 - repayment due 17/06/19; Principal + projected interest outstanding:
5. MBIF-19020012 - repayment due 24/06/19; Principal + projected interest outstanding:
6. MBIF-19020015 - repayment due 25/06/19; Principal + projected interest outstanding:
7. MBIF-19030002 - repayment due 02/07/19; Principal + projected interest outstanding:
8. MBIF-19030005 - repayment due 09/07/19; Principal + projected interest outstanding:
9. MBIF-19030009 - repayment due 10/07/19; Principal + projected interest outstanding:
10. MBIF-19030021 - repayment due 19/07/19; Principal + projected interest outstanding:
11. MBIF-19030031 - repayment due 26/07/19; Principal + projected interest outstanding:
Total (inclusive of new CF):
The interest is calculated on daily rest basis on advance amount upon receiving payment from debtor
Issuer is allowed early gradual settlement as and when debtors pay up subject to maximum credit period of 120 days
Investors' Net Return (After Investor Service Fee)
Investor Service Fee (15% of interest amount)
Investor Return Amount (85% of interest amount)
Net Factor Rate
SST (Malaysian tax resident)
Withholding tax (non Malaysian tax resident)
RM120,000.00
RM1,467,335.90
RM46,666.63
RM252,055.00
RM249,600.00
RM24,764.52
RM210,080.00
RM123,061.16
RM291,200.00
RM62,932.54
RM392,080.00
RM212,160.00
RM176,800.00
RM2,161,399.85
RM720.00
RM4,080.00
3.40%
applicable standard rate set by the Royal Customs Dept
15% on Gross Interest Income
Seller's(Issuer) Summary
Incorporation:
21/11/2001
Business Nature:
Issuer (company) was incorporated in 21st Nov 2001 which principally involved in trading of IT & smartphone related products including dekstop computer, laptops, tablets, smartphone, etc. Their major customer
is a government body with 70% of their turnover contribution. In addition all of their products are comply with international safety standards which is suitable for people working in oil & gas industry, argriculture,
utilities or crafts.
Paid Up Capital :
RM1,000,000
Employees:
40+
Litigation:
No litigation history.
Negative / Black List:
Nil
Payment Behaviour and
financing record:
Total number of financing : 10, with total loan limit of RM6.13M while outstanding balance stands at RM4.79M (position as at Sep'18).
Number of applications in the past 12mths : 5, 4 approved and 1 pending decision by FI.
PGs' Summary
Director 1
Director 1 & Shareholder (60%) : 46 yrs old male, Malaysian. He is the key person in the company. He has more than 20 years of experiences in the industry.
Negative / Black List:
Nil. No history of litigation record noted
Payment Behaviour and
financing record
Prompt repayment record on 15 existing records (12 Credit Card, 1 Housing loan, 1 HP, 1 overdraft accounts), earliest since 1996. Total loan limit (all loans) is at RM1.73M with outstanding balance of RM1.21M.
Director 2
46 yrs old female, Malaysian. Wife to Director 1. She is not active in the business.
Negative / Black List:
Nil. No history of litigation record noted
Payment Behaviour and
financing record
Prompt repayment record noted on 3 existing records (1 Credit card, 1 Housing loan and 1 HP account), earliest since 2010. Total loan limit (all loans) is at RM1.21M with outstanding balance of RM990K.
Buyer's (Invoice Debtor) Summary
Incorporation:
15-11-96
Business Nature:
Incorporated in 15/11/1996 (22 years of excellence). Had a humble beginning as a mobile telecommunication retailer in 1997. Subsequently, they manage to grow from a humble start as a retailer to a distributor
with a distribution network to almost 800 active dealers In a short period, they managed to become top 10 Distributor for Digi. There are range of products offered by them from telecommunication & electronic
products, to mobile phones. The key personnel are specialist in cellular communication industry for the last decade or two. Since the introduction of DiGi cellular telecommunication services, they have been
working very closely with Digi culminating in the formation of buyer to further strengthen this business partnership.
Paid Up Capital :
>RM1M
Litigation:
No litigation history.
Negative / Black List:
Nil
Total Invoice Amount
RM150,582.00
Years of relationship with Seller :
New
Average payment days for last 2 transactions :
N.A.
Invoice Summary
Number of Invoice & date
1 (issued Mar'19)
Total Factor Amount
RM120,000.00
Credit period
90 days
Seller's Financials FYE 30 Nov
Revenue
Cost of sales
Gross profit
Depreciation
Staff Cost
Other operating expenses
Operating profit
Add: other income
EBIT
Interest and Taxes
Net Profit (Loss) for the year
Fixed Asset
Current Asset
Total Asset
Fixed Liabilities
Current Liabilities
Total Liabilities
Equity
Total Liabilities and Equity
Financial Ratios
2015 (Audited)
2016 (Audited)
2017 (Audited)
RM16,014,766
RM19,466,997
RM21,226,417
RM13,882,432
RM17,550,893
RM19,473,047
RM2,132,334
RM1,916,104
RM1,753,370
RM53,644
RM54,911
RM39,809
RM607,685
RM465,779
RM398,123
RM1,162,928
RM1,056,002
RM888,002
RM308,077
RM339,412
RM427,436
RM69,142
RM70,092
RM58,466
RM377,219
RM409,504
RM485,902
RM271,294
RM237,745
RM277,928
RM105,925
RM171,759
RM207,974
RM195,988
RM8,002,979
RM8,198,967
RM24,400
RM6,481,607
RM6,506,007
RM1,692,960
RM8,198,967
RM158,303
RM6,729,075
RM6,887,378
RM22,107
RM5,000,552
RM5,022,659
RM1,864,719
RM6,887,378
RM120,007
RM9,587,084
RM9,707,091
RM740,758
RM6,893,640
RM7,634,398
RM2,072,693
RM9,707,091
Time Period
May'18 -Oct'18
May'18 -Oct'18
May'18 -Oct'18
May'18 -Oct'18
Avg Credit
RM455,173.49
RM274,565.88
RM1,928,624.95
RM173,666.67
RM2,658,364.32
Avg Debit
RM488,892.23
RM315,028.18
RM1,928,267.32
RM202,011.26
RM2,732,187.72
Revenue Growth
Gross Margin
Net Margin
Current Ratio
Quick Ratio
Leverage Ratio
Gearing ratio
Pre-tax Interest Coverage
Return (before tax) On Net Worth
Receivables Turnover
Payables Turnover
Inventory turnover
Total asset turnover
2015 (Audited)
-
2016 (Audited)
2017 (Audited)
21.56%
9.84%
1.16%
134.57%
53.48%
269.35%
107.31%
2.22
12.07%
8.17
51.17
7.96
2.58
13.31%
1.13%
123.47%
44.46%
384.30%
146.56%
1.92
10.68%
5.53
56.77
6.23
1.95
9.04%
8.26%
1.26%
139.07%
65.58%
368.33%
185.00%
2.22
12.89%
11.21
40.82
8.20
2.56
Bank Statement Summary
Bank Account 1
Bank Account 2
Bank Account 3
Bank Account 4
Total
Avg Bal
-RM881,309.84
-RM98,128.81
RM76,445.00
-RM170,034.38
-RM902,993.64
Latest available Bal
Avg Available Bal
(Oct'18)
RM118,690.17
RM51,242.86
RM201,871.19
RM41,335.51
RM76,445.00
RM11,306.99
RM129,965.62
RM17,253.67
RM397,006.36
RM103,885.36
OD Limit
RM1,000,000
RM300,000
RM300,000
Risk Snapshot
Industry:
Neutral outlook given competitive nature of the industry although driven by high sales volume and demand.
Strength:
Appointed by government body as sole distributor. Director has vast experience in the industry.
Weakness:
The industry is competitive with low profit margin.
Profitability:
The Issuer company has been in operation since 1997 and has been profitable over the past 3 years. Turnover slightly increased over the years. Based on Management account @Jul'18 (7 months) revenue is at
RM10.22M. Gross profit of RM1.1M (10.85% margin) with net profit before tax of RM113.8K (1.11%)Gross Profit FYE 2016 & 2017 is at RM1.91M (margin 9.84%) & RM1.75M (margin 8.26%). while Net Profit after tax stood
at RM171.76K ( 0.88%) & RM207.97K ( 0.98%).
Financials:
For management account @ Jul'18, noted the issuer's net worth is about 2.19M with retained profit stands at RM1.89M. Total paid-up as of now at RM1M. Gearing ratio is about 0.538x. THe company is currently
serving monthly fixed repayment of around 32.6K. Prompt repayment record noted for all account.
General Overview:
Issuer have an active account with FSMY, with loan amount of RM500K. Good repayment track record noted thus far. Still have balance of 8 instalments to be paid before its fully settle.
Comments
CTOS check reveals that the company and its directors does not have any history of litigation record. Checks also reveals that the 2 of the directors have prompt repayment record on its borrowings.
The financials shows the company is profitable with healthy business growth and volume. Flight risk is also low given that both directors are Malaysian and have own properties in Malaysia.
General Risk Statement
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