CREDIT AND PERFORMANCE ASSESSMENT
SECTION I : CREDIT ASSESSMENT
Specially prepared for
Construction Industry Development Board (CIDB)
Your Reference
:
N/A
Our Reference
:
LOH-LOH1/WOY
Subject Enquired Upon
:
LOH & LOH CONSTRUCTIONS SDN. BHD.
Local Number
:
17145-K
Report Last Update
:
10TH DECEMBER 2001
___________________________________________________________________________
 All figures quoted in this report are in local currency RM (Ringgit Malaysia) unless
otherwise specified.

Adopted abbreviations : SC
- Subject Company (the company enquired by you)
N/A - Not Applicable
__________________________________________________________________________
LOH & LOH CONSTRUCTIONS SDN. BHD.
LOCAL NO
NAME
BUSINESS ADDRESS
:
:
TEL NO
FAX NO
:
:
17145-K
LOH & LOH CONSTRUCTIONS SDN. BHD.
: 19 & 21, JALAN SRI HARTAMAS 7, TAMAN SRI HARTAMAS
50480 KUALA LUMPUR
03-62013888 / 62014777
03-62012112
CREDIT ASSESSMENT
The Credit risk analysis is conducted by using the 5Cs Credit rating model. The Credit rating is based on a five
point scale as per information collected through personal interviews and investigation on the company by our
well trained and experienced researchers. The Credit score is a composite of weighted scores of the five major
Key Credit Areas (The 5Cs).
Credit Assessment
Status
Rating Assigned
Credit Marks
Risk Description
Confidence Level
:
:
:
:

83
Below Average
Above Average
Outlook
:
POSITIVE
5Cs Credit Key [100%]
Character
Capital
Capacity
Credibility
Contingency
Marks
86 – 100
76 – 85
61 – 75
46 – 60
26 – 45
<25
[15%]
[35%]
[30%]
[15%]
[ 5%]
Rating





NR
Status
:
:
:
:
:
Good
Good
Good
Above Average
Good
Credit Recommendation
Large amount of credit can be proceeded with favourable terms
Fairly large amount of credit can be proceeded promptly
Moderate amount of credit can be proceeded normally
Small amount of credit can be proceeded with monitor
Small amount of credit can be extended under guarantee
Cash on Delivery (C. O. D) and credit was not recommended
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~2~
LOH & LOH CONSTRUCTIONS SDN. BHD.
COMMENTS :
Incorporated in 1974, the SC is primarily engaged in civil engineering construction. The SC has been in
business for almost 27 years and it should have built stable suppliers and clientele base in the market. The share
capital of the SC is RM7,235,000. Over the years the SC has completed many high and low investment projects
from both the government and non-governments sectors. This will give it an edge when competing in the
industry. However as the SC concentrates mainly on the local market, it is vulnerable to the changes on local
economy. The SC should venture overseas to widen its market segment.
Based on the year 2000 accounts the SC is in healthy and has a Good Capital position. For the financial year
ended 2000, the SC had achieved good turnover and returns for its shareholder. Profitability has enabled the SC
to attract more attention among the investors besides being able to maintain a good liquidity and gearing level.
The financial risk of the SC is low. Its current net worth standing at RM80.3 million has placed the SC in a
stable position. However the SC has an unfavourable working capital control and more efforts should be put in
place to improve its Capital position.
The SC has a good order book of RM345.3 million which is expected to help it sustain its profit for the next one
to two years. The SC is projected to make a profit of RM19 million for the year ending Dec 2001. As most of
the projects undertaken by the SC are for the government sector, it faces low payment risks. The SC however
has to secure more projects especially in overseas market as the local construction industry is saturated. Based
on its track record and strength, the SC is well positioned to further increase its order book in year 2002.
The management is under the leadership of Mr Loh Kim Tai as the Managing Director of the SC. It has 32 years
experience in civil engineering construction. The SC has a team of professional directors and managers who are
qualified and experienced in the industry. With a strong management team, projects can be carried out more
effectively and economically.
The SC’s Creditability is Above Average. The SC is clear of any legal suit, defaulter record and project dispute.
Indirectly this will provide more confidence to customers. The overall payment habit of the SC was fair. The
total weighted credit marks of the SC is 82. The overall outlook of the SC is Positive and the risk exposure is
low. As a result, we recommend a fairly large amount of credit be granted to the SC promptly.
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~3~
LOH & LOH CONSTRUCTIONS SDN. BHD.
CREDIT RISK SCORE
The SC has been scored in the 5Cs credit rating analysis. Each Key Credit Area is represented by a number of
credit factors in the analysis. A score is obtained for each credit factor using the five point scale. These
scores are then weighted according to that credit factor's importance in analysis of its Key Credit Areas.
The weighted scores for each of the Key Credit Areas are then summated to obtain overall Weighted
Credit Marks. The following is a summary of the results obtained in each of the Key Credit Areas (The 5Cs).
5Cs Credit Key
Weighted Score
CHARACTER (15%)
Establishment of Company
1
Authorised/Issued Paid Up Capital
2
Shareholders of Company
2
SUB-TOTAL
CAPITAL ( 35% )
Profitability
1
Working Capital Control
4
Liquidity Position
2
Leverage Position
1
SUB-TOTAL
CAPACITY ( 30%)
Order Books
1
Clientele
2
Inter Company Support
2
Management Capacity
2
SUB-TOTAL
CREDIBILITY (15%)
Payment Record
4
Credit Exposure
1
Litigation Check
1
BASIS's Defaulter Record
1
Project Dispute
1
SUB-TOTAL
CONTINGENCY (5%)
Assets Backing
1
SUB-TOTAL
TOTAL WEIGHTED CREDIT MARKS
Weighted Marks
13
29
25
11
5
83
Note: The five point scale will be ranging from the most favourable to the least favourable condition.
1 [ Strong ]
5 [ Poor ]
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~4~
LOH & LOH CONSTRUCTIONS SDN. BHD.
I. CHARACTER (15%)
The company Character analysis refers to the study of the company’s constitution, which
represents the underlying strength of the company as per below. The assessment on
CHARACTER acts as a preliminary test in determining whether the SC is qualified for
further analysis.
CHARACTER (15%)
Establishment of Company
Authorised/Issued Paid Up Capital
Shareholders of Company
Weighted Marks
Weighted Score
1
2
2
13
The SC was incorporated on 12 Jan 1974 as a private limited company in Malaysia under
the name of LOH & LOH CONSTRUCTIONS SDN BHD. The SC is principally engaged in civil
engineering construction.
As a private limited company, the SC must have at least 2 directors. The SC is a separate
legal entity from its shareholders. As a separate legal entity, the SC 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 SC is
insolvent. The SC 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 authorized capital of the SC is RM10,000,000, divided into 10,000,000 shares of
RM1.00 each. The issued and paid-up ordinary share capital of the SC is RM7,235,000.
The SC is registered as a Grade 7 contractor with the Construction Industry Development
Board (CIDB). The SC is also registered with Pusat Khidmat Kontraktor (PKK) under A
Class. Registration with both authorities are still valid. This will enable the SC to
tender projects of unlimited sum and is in line with its future plan.
The SC is well backed by its holding company, Loh & Loh Corporation Berhad. The SC is
expected to benefit from the timely financial assistance from its holding company when
necessary.
The shareholder of the SC are shown as follows :
Name..................... Address.................. IC/PP/Loc No.. Shareholding
LOH & LOH CORPORATION BHD 19 & 21 JLN HARTAMAS 7,
TMN SRI HARTAMAS
50480 KUALA LUMPUR
389765
7,235,000
-------------7,235,000
==============
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~5~
LOH & LOH CONSTRUCTIONS SDN. BHD.
II. CAPITAL (35%)
In Capital analysis, evaluation on the financial position of the subject company (SC)
was based on the data of the company’s Sales, Profit, Asset and Capital. Other ratios
were also analysed concurrently to have an insight of the causal factors behind the
SC’s performance. The ratios were benchmarked against each specific industry to identify
the position of SC in the market.
CAPITAL (35%)
Weighted Score
Profitability
Working Capital Control
Liquidity Position
Leverage Position
Weighted Marks
1
4
2
1
29
PROFITABILITY
The turnover of the SC had decreased 2.67% from RM145,844,643 in 1999 to RM141,945,190
in 2000. However, the profit before taxation for the SC increased by RM3,406,408 or
16.33% due to the reduction in variable cost incurred during the year.
The SC has maintained a good return on capital employed (ROCE) position over the past
three years from year 1998 to 2000. During year 2000, the ROCE of the SC was at 29.08
times. Overall the SC has put up a strong performance and is in a profitable position.
WORKING CAPITAL CONTROL
The debtor ratio of the SC had increased from 80 days in year 1999 to 112 days in year
2000. The SC’s debtor ratio was unacceptably high compared with the industry standard
83 days. The SC may encounter some difficulties in managing its receivable.
Meantime, the SC’s creditor ratio had also increased from 102 days in year 1999 to 134
days in year 2000. In comparison to the industry standard ratio of 70 days, the SC’s
ratio was high. Overall, the working capital control of the SC is considered
unfavourable.
LIQUIDITY POSITION
The industry standard for liquid ratio is 1.50 times while the SC recorded a favourable
ratio standing at 1.62 times in the year 2000, which was above the industry standard.
The liquid ratio of the SC however had decreased compared to 1999 which stood at 1.77
times. As the SC was in a good liquidity position, the SC should be able to repay its
short term obligations as and when they fall due. The SC has a good current net asset
standing at RM54.9 million. The SC also has a favourable cash flow position. This figure
saw great improvements over that of the previous year.
LEVERAGE POSITION
The SC has zero gearing in year 2000. Therefore it had a no financial risk. The SC was
financed by its shareholders' funds and internally generated funds. In times of economic
slowdown, the SC will be able to compete better than those companies which are highly
geared in the same industry. Overall the SC has a strong leverage position.
III. CAPACITY (30%)
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~6~
LOH & LOH CONSTRUCTIONS SDN. BHD.
In the assessment of CAPACITY, which essentially reflects the health and potential of
the SC’s business, we assess the abilities of subject company (SC) in meeting its
obligations based on non-financial factors.
CAPACITY (30%)
Order Books
Clientele
Inter-Company Support
Management Capacity
Weighted Marks
Weighted Score
1
2
2
2
25
ORDER BOOKS
At present, the SC’s focus is on the local market particularly in the construction and
earthwork activities.
The current projects in hand are as follows :1. Project Name
Project type
Value
Location
Completion date
Construction Period
2. Project Name
Project type
Value
Location
Completion date
Construction Period
3. Project Name
Project type
Value
Location
Completion date
Construction Period
4. Project Name
Project type
Value
Location
Completion date
Construction Period
5. Project Name
: Construction of the lake for phase 1B, Putrajaya
Federal Government Administrative Centre
: Construction of lake
: RM77.71 million
: Putrajaya
: Feb 2003 inclusive of 16 months approved EOT (Extension on time)
: 56 months
: Design, strengthening & replacement of railway bridge
& re-alignment of track at Kuala Kangsar & Sg. Siput.
: Renovation of railway bridge
: RM20.84 million
: Kuala Kangsar & Sungai Siput, Perak.
: Dec 2001
: 24 months
: Sungai Selangor Water Supply Scheme Phase 3 (SSP3)
Water treatment works
: Civil Engineering Construction & Mechanical Works
: RM159.98 million
: Rasa, Selangor
: Nov 2001
: 20 months
: The construction of Bulk Earthwork and Preliminary
Drainage (Package EW300) at Precinct 7 & 8 (Phase 2)
: Earthwork and Drainage
: RM38.93 million
: Putrajaya
: Dec 2001
: 14 months
: The Construction & Completion of Putrajaya Core
Island Detailed Platform Earthwork at Precinct 3,4
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~7~
LOH & LOH CONSTRUCTIONS SDN. BHD.
Project type
Value
Location
Construction Period
:
:
:
:
& 18A (Package EW200A)
Earthwork and Rock Blasting
RM47.90 million
Putrajaya
16 months
All the above mentioned projects are secured despite the current economic slowdown.
The SC has a good order book standing at RM345.36 million. However we noticed that most
of the projects undertaken by the SC will last only for one to two years. If there are
no new long term projects, future earnings of the SC may be affected. The SC should
be more aggressive in securing new jobs, focusing on higher margin infrastructure and
government-funded projects.
CLIENTELE
The SC’s clients are all local mainly from the government agencies, commercial building
developers and other private organizations. Its long presence in the industry has
enabled the SC to build up a strong clientele base in the industry.
As most of the projects undertaken are for the government, the risk of non-payment is
negligible. The SC is expected to benefit from the government’s pump priming efforts
announced during the presentation of the 2002 budget. However the local construction
industry is saturated and is quite competitive. The SC is vulnerable to the changes
in the local economy.
Some of the SC’s major clients are :
a)
PUTRAJAYA HOLDINGS SDN. BHD.
b) JABATAN BEKALAN AIR SELANGOR
c)
JABATAN BEKALAN AIR NEGERI SEMBILAN
d) UE CONSTRUCTIONS SDN. BHD.
e) HAZAMA CORPORATION
f) SATO KAGYO CO., LTD.
g) JABATAN KERJARAYA JOHOR
h) PUNCAK NIAGA (M) SDN. BHD.
Composition of the SC’s clientele is as follow :
TYPES OF CLIENT
NUMBER
Housing Developers
Commercial Building Developers
Government Agencies
Other Private Organizations
0
3
10
20
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~8~
LOH & LOH CONSTRUCTIONS SDN. BHD.
INTER-COMPANY SUPPORT
The SC has a branch office located in Singapore. The SC is a wholly owned subsidiary
of Loh & Loh Corporation Berhad, a public listed company on the main board of the KLSE.
Some of the subsidiary companies in the related in business are :1.
2.
3.
4.
5.
Turf Tech. Sdn. Bhd.
Jutakim Sdn. Bhd.
Quality Quarry Sdn. Bhd.
Loh & Loh Ikhmas Sdn. Bhd
Loh & Loh Sato Kogyo JV Sdn. Bhd.
Some of the SC’s materials and equipment are obtained from its related companies, besides
local suppliers. Presently it is not expected to face difficulties sourcing materials.
Nevertheless, we noted that most of the SC’s directors have interest in other companies.
With a strong inter company support, the SC will be able to secure attractive and stable
source of supplies.
Following are the results of cross referencing conducted on BASIS’s database on all
the SC’s directors.
DIRECTOR 1
Name Of Subject
Address
IC / PP No
New IC No
Date of Birth
Nationality
Date of Appt.
: AZRUL RASHID BIN ABDUL RASHID
: A18-1 TRIOMPHE TOWER, VISTA KIARA CONDO, JLN 1/61A, 50480
KUALA LUMPUR
: A2711333
: 740907-14-5771
: 07/09/1974
: MALAYSIAN MALAY
: 29/04/1999
INTEREST CHECK
Interest in companies
Interest in business
: see below
: none in our databank
INTEREST IN COMPANY
Company............................ Designation Shareholding Court
As At......
COMMERCIAL AIRTIME MARKETING SDN
BHD
FIRST TRAVEL & TOUR (M) SDN BHD
KAYLA BEVERLY HILLS (MALAYSIA) SDN
BHD
KELAS PERDANA SDN BHD
KL AUTO PRIMA SERVICES SDN BHD
LOH & LOH CONSTRUCTIONS SDN BHD
MINDA PERTIWI SDN BHD
RADIO LEBUHRAYA SDN BHD
DIRECTOR
0
08 Apr 2000
DIRECTOR
DIRECTOR
0 HC
0 HC]HC
19 Sep 2001
02 May 2001
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
500,001
1
0
300,000
0
13
06
01
21
26
Dec
Sep
Oct
Sep
Feb
1999
2000
2001
2001
2001
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~9~
LOH & LOH CONSTRUCTIONS SDN. BHD.
DIRECTOR 2
Name Of Subject
Address
IC / PP No
New IC No
Date of Birth
Nationality
Date of Appt.
: DANNY NG SIEW L'LEONG
: 4-6-5 TIVOLLI VILLAS CONDO, JLN MEDANG TANDUK, 59100 KUALA
LUMPUR
: 5496679
: 581220-07-5361
: 20/12/1958
: MALAYSIAN CHINESE
: 07/09/1995
INTEREST CHECK
Interest in companies
Interest in business
: see below
: none in our databank
INTEREST IN COMPANY
Company............................ Designation Shareholding Court
As At......
ASSOCIATED CONCRETE PRODUCTS
(MALAYSIA) SDN BHD
DAGANG NET TECHNOLOGIES SDN BHD
KOTAK KAJANG SDN BHD
LOH & LOH CONSTRUCTIONS SDN BHD
LOH & LOH CORPORATION BHD
NEW HOONG FATT HOLDINGS BHD
POHMAY HOLDINGS BHD
STAMFORD COLLEGE (PJ) SDN BHD
STAMFORD COLLEGE GROUP SDN BHD
SUPERIOR ENGINEERING SDN BHD
DIRECTOR
0 HC
08 Feb 2000
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
0
0
0
0
0
0
0
0
0 HC
03
21
01
20
26
29
17
09
08
May
Apr
Oct
Sep
Jan
Jan
Dec
Mar
Dec
2001
2000
2001
2001
2000
2000
1998
1996
2000
DIRECTOR 3
Name Of Subject
Address
IC / PP No
Date of Birth
Nationality
Date of Appt.
: LOH KIM TAI
: 117B JLN SRI HARTAMAS 2, TMN SRI HARTAMAS, 50480 KUALA
LUMPUR
: 0856262H
: 22/08/1947
: SINGAPOREAN
: 01/03/1974
INTEREST CHECK
Interest in companies
Interest in business
: see below
: none in our databank
INTEREST IN COMPANY
Company............................ Designation Shareholding Court
As At......
JUTAKIM SDN BHD
LOH & LOH CONSTRUCTIONS SDN BHD
LOH & LOH CORPORATION BHD
LOH & LOH HOLDINGS SDN BHD
MARK PROPERTIES SDN BHD
15
01
20
20
17
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
DIRECTOR
0
0
0
40,000
0
Sep
Oct
Sep
May
May
1994
2001
2001
1998
1994
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 10 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
DIRECTOR 4
Name Of Subject
Address
IC / PP No
New IC No
Date of Birth
Nationality
Date of Appt.
: LOO CHIN SENG
: 6 JLN 3, JLN SONGKIT 8, TMN SENTOSA, 80150 JOHOR BARU,
JOHOR
: 0568525
: 430214-10-5001
: 14/02/1943
: MALAYSIAN CHINESE
: 14/10/1980
INTEREST CHECK
Interest in companies
Interest in business
: see below
: none in our databank
INTEREST IN COMPANY
Company............................ Designation Shareholding Court
As At......
LOH & LOH CONSTRUCTIONS SDN BHD
LOH & LOH SATO KOGYO JV SDN BHD
01 Oct 2001
06 Aug 1998
DIRECTOR
DIRECTOR
0
0
DIRECTOR 5
Name Of Subject
Address
IC / PP No
Date of Birth
Nationality
Date of Appt.
: LOH KIM KAH
: BLK 265-1-3, CASA RIA APT, JLN JEJAKA, TMN MALURI, 55100
KUALA LUMPUR
: 1349599H
: 03/10/1959
: SINGAPOREAN
: 26/01/1991
INTEREST CHECK
Interest in companies
Interest in business
: see below
: none in our databank
INTEREST IN COMPANY
Company............................ Designation Shareholding Court
As At......
JUTAKIM SDN BHD
LOH & LOH CONSTRUCTIONS SDN BHD
LOH & LOH CORPORATION BHD
LOH & LOH HOLDINGS SDN BHD
LOH & LOH SATO KOGYO JV SDN BHD
TEXAS ENTERPRISE SDN BHD
WATER ENGINEERING TECHNOLOGY SDN
BHD
15
01
20
20
06
30
17
DIRECTOR
DIRECTOR
DIRECTOR
SHAREHOLDER
DIRECTOR
DIRECTOR
DIRECTOR
0
0
0
40,000
0
0
0
Sep
Oct
Sep
May
Aug
Jun
Jul
1994
2001
2001
1998
1998
1995
2001
MANAGEMENT CAPACITY
80 percent of the SC’s workers are locals and 20 percent from overseas. The average
number of employees of the SC was 234 in 2000 and 321 in 1999. The management is headed
by Mr Loh Kim Tai, the Managing Director who has 32 years experience in the construction
industry.
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 11 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
The SC has a qualified and experienced management team to work very closely with its
sub-contractors and external consultants to ensure that the quality are maintained
through constant meetings, reporting and monitoring.
Following are the key members of the management team of the SC :1.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Loh Kim Tai
Managing Director
32 years
Lower Certificate of Education
Reclamation of Pulau Seraya off Jurong, Kuala Lumpur Water
Supply Schemes for Sg. Langat, Penang Bridge Package I,
Johor Baru New Water Supply Scheme, Sungai Selangor Water
Supply Scheme, Phase I
2.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Loh Kim Kah, Jason
Executive Director
15 years
B.A (Hons) in Economic and Social Studies, UK
Malaysia Rural Water Supply Schemes, Linggiu Reservoir
Contract No.3, Sungai Selangor Water Supply Scheme, Phase I
Glenmarie Golf & Country Club 36-Hole Golf Course
3.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Lee Hon Keong
General Manager
38 years
Malaysia Certificate of Education
Earthworks and Preparation of Site for Development of
Bandaraya Township At Petaling Jaya, Selangor.
Malacca Water Supply Durian Tunggal Scheme.
4.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Wong Choo Sin
Commercial Manager
16 years
Professional Dip. In Qty Surveying
The Execution & Completion of Site clearing, Earthworks,
Main Drain and other Associated works.
Construction of Suction Tank and Booster Pumping Station
5.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Chan Mee Kua, Mandy
System & Audit Manager
17 years
BSc (Hons)in Quantity Surveying
As contract manager to assist management in all aspects
of contractual issues at pre and post contract stages.
6.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Yeoh Kee Boo
Technical & Design Manager
30 years
BSc Degree in Civil Engineering
Construct of the Sg. Kelinchi Dam and Associated Works
Site Clearing, Earthworks and Excavation for Installation
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 12 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
7.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Woon Wee Seng
Senior Project Manager
17 years
BE (Hons) (Civil) 1987
Development of Glenmarie Estate, Sg Selangor Water Supply
Scheme, Phase 1
8.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Yan Kok Wah
Senior Project Manager
27 years
Higher School Certification
Development of Glenmarie Estate, Sg Selangor Water Supply
Scheme, Phase 1,2,3
9.Staff name
Position
Years Working
Education level
Experience
:
:
:
:
:
Mohd Affandi bin Selamat
Technical & Design Engineer
10 years
BE (Hons) (Civil) UTM, 1996
Construction of Sg. Kelinchi Pumping Station
Overall the SC has a strong management team to manage and control the operations.
In addition, the SC has external consultants to conduct training programmes for its
staffs to improve its operational efficiency and productivity. In 2000, the SC has
invested RM28,450 on training.
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 13 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
IV. CREDIBILITY (15%)
The study on the company’s Credibility is to gauge the company’s Credibility in honoring
its obligations through its payment record, credit checking and record of disputes with
related parties such as sub-contractors, project owners, project consultants, banks
and suppliers.
CREDIBILITY (15%)
Payment Record
Credit Exposure
Litigation Check Against Company
BASIS’s Defaulter Record
Project Dispute
Weighted Score
4
1
1
1
1
Weighted Marks
11
PAYMENT RECORD
The SC maintains its accounts with EON Bank Bhd and RHB Bank Bhd. Our investigation
revealed that no adverse record was found on the SC’s accounts. The SC has taken overdraft
facilities from RHB Bank Bhd.
All the SC’s raw materials are sourced locally. Our trade surveys conducted with the
SC’s raw material and machinery suppliers showed that the overall payment habit of the
SC was fair. Credit limit offered by the SC’s suppliers is between RM100,000 to RM2
million.
Following are the extracts of our findings from two (2) suppliers each of raw material
and machinery to the SC.
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 14 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
RAW MATERIAL SUPPLIERS
Credit Limit:
Mode(s) of Payment:
Credit Term:
Monthly Avg. Transaction:
Outstanding Amount:
Payment Record:
SUPPLIER 1
N/A
Cheque
30 days
Not Consistence
NIL
Average
SUPPLIER 2
RM1,800,000
Cheque
60 Days
RM100,000
RM500,000
Fair
MACHINERY SUPPLIERS
Credit Limit:
Mode(s) of Payment:
Credit Term:
Monthly Avg. Transaction:
Outstanding Amount:
Payment Record:
SUPPLIER 1
RM300,000
Cheque
60 Days
RM100,000
NIL
Fair
SUPPLIER 2
RM100,000
Cheque
60 Days
Not Consistence
RM22,000
Average
CREDIT EXPOSURE
The SC has a good credit exposure. According to our records, only four (4) credit
enquiries were conducted against the SC in year 2000 and three (3) in the year 2001.
There are no encumbrances recorded at the time of investigation.
LITIGATION CHECK AGAINST COMPANY
A check has been conducted with BASIS’s data bank against the SC as to whether the
subject has been involved in any litigation. BASIS’s databank consists of 99% of the
wound up companies in Malaysia back dated since 1900.
Our investigation indicated that the SC has no record of legal action & winding up
petition in our data bank.
BASIS’S DEFAULTER RECORD
Defaulter records are maintained at BASIS’s databank. They are contributed by BASIS’s
subscribers from various industries in the country. Our investigations revealed that
no defaulter record was found against the SC.
A check was also conducted with BASIS (RMS) Services Sdn Bhd, the debt collection arm
of BASIS. Our records showed that no collection case against the SC has been assigned
to BASIS.
PROJECT DISPUTE
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 15 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
Surveys conducted with project owners, project consultants and sub-contractor indicated
there were no major disputes with the SC. Overall comments given by parties interviewed
on the SC was good.
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 16 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
V. CONTINGENCY (5%)
Uncertainties and unexpected events always threaten the business operation. In
Contingency analysis, we study readiness of the SC to face any untoward event in the
future.
CONTINGENCY (5%)
Assets Backing
Weighted Score
1
Weighted Marks
5
ASSETS BACKING
The Net Tangible Asset (NTA) per share of RM1.00 for the SC is RM11.17.
As at financial year ended 31 December 2000, the long term assets of the SC stood at
RM28,593,471. One of the main components of the SC’s long term assets is fixed assets.
The total fixed assets of the SC as at year ended 31 July 2000 stood at RM24,300,624.
The fixed assets of the SC comprise of freehold land & buildings, plant and machinery,
motor vehicles, office equipment and furniture & fittings.
Of the total fixed assets, 64.2% (RM15.6m) of the net book value plant and machinery,
15.2% (RM3.7m) motor vehicle, 15.1% (RM3.6m) land and buildings and 5.3% (RM1.3m)
office equipment, furniture and fittings.
The bulk of the SC’s fixed assets comprise of plants and machinery which are considered
as quality assets. Most of the SC’s plant and machinery are still new although the have
been depreciated.
The SC has a piece of freehold land valued at RM2,300,000. The current premises occupied
by the SC is owned by the SC. All the fixed assets are free from encumbrances and the
motor vehicles were acquired under the hire purchase installment plan.
The SC also has a net cash of RM13,316,805 in deposits, bank balances and net current
assets as at financial year ended 31 December 2000.
In view of the above, the SC can considered to have a strong asset backing against any
untoward happening in the future. The strong asset backing has placed the SC in a stable
position.
- END OF REPORT -
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 17 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
CONSOLIDATED
PROFIT
&
LOSS
FOR THE YEAR ENDED 31 DEC 2000
ACCOUNT
LOH & LOH CONSTRUCTIONS SDN BHD
2000
RM
TURNOVER
PROFIT/(LOSS) FROM OPERATIONS
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED
COMPANIES
1999
RM
1998
RM
141,945,190
145,844,634
263,736,236
=============== =============== ===============
24,183,308
19,009,843
22,707,352
86,130
1,853,183
1,020,124
--------------- --------------- --------------PROFIT/(LOSS) BEFORE TAXATION
24,269,438
20,863,026
23,727,476
Taxation
<6,191,410>
744,494
<10,591,610>
--------------- --------------- --------------PROFIT/(LOSS) AFTER TAXATION
18,078,028
21,607,520
13,135,866
Minority interests
<98,814>
<1,794>
17,185
--------------- --------------- --------------PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
17,979,214
21,605,726
13,153,051
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT
FORWARD
As previously reported
57,259,417
38,909,441
28,100,530
--------------- --------------- --------------PROFIT AVAILABLE FOR APPROPRIATIONS
75,238,631
60,515,167
41,253,581
DIVIDENDS - Ordinary (paid & proposed)
<4,688,280>
<3,255,750>
<2,344,140>
--------------- --------------- --------------RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED
FORWARD
70,550,351
57,259,417
38,909,441
=============== =============== ===============
RETAINED BY: The Company
INTEREST EXPENSE (as per notes to PL)
Hire purchase
70,550,351
57,259,417
38,909,441
--------------- --------------- --------------70,550,351
57,259,417
38,909,441
=============== =============== ===============
107,858
205,802
136,136
--------------- --------------- --------------107,858
205,802
136,136
=============== =============== ===============
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 18 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
CONSOLIDATED
BALANCE
AS AT 31 DEC 2000
SHEET
LOH & LOH CONSTRUCTIONS SDN BHD
2000
RM
1999
RM
1998
RM
ASSETS EMPLOYED:
FIXED ASSETS
26,600,624
23,387,015
28,392,700
LONG TERM INVESTMENTS/OTHER ASSETS
Associated companies
Investments
1,698,322
3,112,177
1,248,528
294,525
294,525
340,000
--------------- --------------- --------------TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
1,992,847
3,406,702
1,588,528
TOTAL LONG TERM ASSETS
--------------- --------------- --------------28,593,471
26,793,717
29,981,228
CURRENT ASSETS
Contract work-in-progress
15,592,025
Trade debtors
43,749,356
31,829,495
53,441,086
Other debtors, deposits & prepayments
3,370,872
815,469
611,581
Short term deposits
10,552,502
484,754
164,074
Amount due from holding company
67,229,822
60,646,434
41,993,949
Amount due from associated companies
677,181
588,426
Cash & bank balances
2,764,303
6,885,496
2,916,964
Amount due from subsidiary company of holdin
2,440,979
4,068,789
--------------- --------------- --------------TOTAL CURRENT ASSETS
143,258,880
103,779,808
103,784,869
CURRENT LIABILITIES
Trade creditors
52,065,562
40,596,699
56,731,697
Other creditors & accruals
1,811,067
2,480,818
2,812,697
Hire purchase & lease creditors
242,080
444,530
1,152,372
Amounts owing to related companies
57,650
Amounts owing to associated companies
394,639
Provision for taxation
2,952,460
1,002,220
8,662,742
Dividends payable/proposed
4,688,280
3,255,750
2,344,140
Contract work-in-progress
25,070,802
10,989,722
8,517,488
Amount due to minority shareholder of subsid
1,000,000
--------------- --------------- --------------TOTAL CURRENT LIABILITIES
88,282,540
58,769,739
80,221,136
--------------- --------------- --------------NET CURRENT ASSETS/(LIABILITIES)
54,976,340
45,010,069
23,563,733
--------------- --------------- --------------TOTAL NET ASSETS
83,569,811
71,803,786
53,544,961
=============== =============== ===============
FINANCED BY:
SHARE CAPITAL
Ordinary share capital
TOTAL SHARE CAPITAL
7,235,000
7,235,000
7,235,000
--------------- --------------- --------------7,235,000
7,235,000
7,235,000
RESERVES
Revaluation reserve
3,053,390
3,053,390
3,053,390
Retained profit/(Accumulated loss) carried
forward
70,550,351
57,259,417
38,909,441
--------------- --------------- --------------TOTAL RESERVES
73,603,741
60,312,807
41,962,831
--------------- --------------- --------------SHAREHOLDERS' FUNDS/EQUITY
80,838,741
67,547,807
49,197,831
MINORITY INTEREST
531,395
400,630
398,836
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 19 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
Hire purchase creditors
57,086
122,500
199,445
Deferred taxation
2,142,589
3,732,849
3,748,849
--------------- --------------- --------------TOTAL LONG TERM & DEFERRED LIABILITIES &
PROVISIONS
2,199,675
3,855,349
3,948,294
--------------- --------------- --------------83,569,811
71,803,786
53,544,961
=============== =============== ===============
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 20 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
CONSOLIDATED
FINANCIAL
AS AT 31 DEC 2000
RATIOS
LOH & LOH CONSTRUCTIONS SDN BHD
2000
RM
1999
RM
1998
RM
TYPES OF FUNDS
Cash
Net Liquid Funds
Net Liquid Assets
Net Current Assets/(Liabilities)
Net Tangible Assets
Net Monetary Assets
13,316,805
13,316,805
54,976,340
54,976,340
83,569,811
52,776,665
7,370,250
3,081,038
7,370,250
3,081,038
45,010,069
23,563,733
45,010,069
23,563,733
71,803,786
53,544,961
41,154,720
19,615,439
BALANCE SHEET ITEMS
Total Borrowings
Total Liabilities
Total Assets
Net Assets
Net Assets Backing
Shareholders' Funds
Total Share Capital
Total Reserves
299,166
90,482,215
171,852,351
83,569,811
81,370,136
80,838,741
7,235,000
73,603,741
567,030
62,625,088
130,573,525
71,803,786
67,948,437
67,547,807
7,235,000
60,312,807
LIQUIDITY (Times)
Cash Ratio
Liquid Ratio
Current Ratio
1,351,817
84,169,430
133,766,097
53,544,961
49,596,667
49,197,831
7,235,000
41,962,831
0.15
1.62
1.62
0.13
1.77
1.77
0.04
1.29
1.29
WORKING CAPITAL CONTROL (Days)
Stock Ratio
Debtors Ratio
Creditors Ratio
40
112
134
0
80
102
0
74
79
SOLVENCY RATIOS (Times)
Gearing Ratio
Liabilities Ratio
Times Interest Earned Ratio
0.00
1.12
226.01
0.01
0.93
102.37
0.03
1.71
175.29
PERFORMANCE RATIO (%)
Operating Profit Margin
Net Profit Margin
Return On Net Assets
Return On Capital Employed
Return On Shareholders' Funds/Equity
Dividend Pay Out Ratio (Times)
17.09
12.66
29.16
29.08
22.24
0.26
14.30
14.81
29.34
29.16
31.98
0.15
8.99
4.98
44.56
43.62
26.73
0.18
15,708,808
8,852,730
NOTES TO ACCOUNTS
Contingent Liabilities
24,891,564
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 21 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
PROFIT
&
LOSS
ACCOUNT
FOR THE YEAR ENDED 31 DEC 2000
LOH & LOH CONSTRUCTIONS SDN BHD
2000
RM
TURNOVER
1999
RM
1998
RM
127,465,175
142,736,693
252,581,569
=============== =============== ===============
PROFIT/(LOSS) FROM OPERATIONS
Taxation
25,240,129
19,022,026
22,923,069
<6,082,310>
754,125
<10,157,542>
--------------- --------------- --------------PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS
19,157,819
19,776,151
12,765,527
RETAINED PROFIT/(ACCUMULATED LOSS) BROUGHT
FORWARD
As previously reported
54,160,153
37,639,752
27,218,365
--------------- --------------- --------------PROFIT AVAILABLE FOR APPROPRIATIONS
73,317,972
57,415,903
39,983,892
DIVIDENDS - Ordinary (paid & proposed)
<4,688,280>
<3,255,750>
<2,344,140>
--------------- --------------- --------------RETAINED PROFIT/(ACCUMULATED LOSS) CARRIED
FORWARD
68,629,692
54,160,153
37,639,752
=============== =============== ===============
RETAINED BY: The Company
INTEREST EXPENSE (as per notes to PL)
Hire purchase
68,629,692
54,160,153
37,639,752
--------------- --------------- --------------68,629,692
54,160,153
37,639,752
=============== =============== ===============
107,858
205,802
136,136
--------------- --------------- --------------107,858
205,802
136,136
=============== =============== ===============
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 22 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
BALANCE
SHEET
AS AT 31 DEC 2000
LOH & LOH CONSTRUCTIONS SDN BHD
2000
RM
1999
RM
1998
RM
ASSETS EMPLOYED:
FIXED ASSETS
22,826,509
23,172,486
28,057,325
LONG TERM INVESTMENTS/OTHER ASSETS
Subsidiary companies
Associated companies
Investments
1,350,604
1,282,655
<3,127,350>
367,550
367,550
367,550
294,525
294,525
340,000
--------------- --------------- --------------TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
2,012,679
1,944,730
<2,419,800>
TOTAL LONG TERM ASSETS
--------------- --------------- --------------24,839,188
25,117,216
25,637,525
CURRENT ASSETS
Contract work-in-progress
14,100,037
Trade debtors
37,056,408
24,204,427
39,643,868
Other debtors, deposits & prepayments
3,310,804
775,554
577,868
Short term deposits
8,933,972
484,754
160,150
Amount due from holding company
67,229,822
60,646,434
41,993,949
Amount due from associated companies
677,181
588,426
Cash & bank balances
1,977,166
6,751,588
1,853,222
Amount due from subsidiary company of holdin
2,440,979
4,068,789
--------------- --------------- --------------TOTAL CURRENT ASSETS
132,608,209
95,980,917
88,886,272
CURRENT LIABILITIES
Trade creditors
Other creditors & accruals
Hire purchase & lease creditors
Amounts owing to subsidiary companies
Amounts owing to related companies
Amounts owing to associated companies
Provision for taxation
Dividends payable/proposed
Contract work-in-progress
TOTAL CURRENT LIABILITIES
NET CURRENT ASSETS/(LIABILITIES)
TOTAL NET ASSETS
38,994,818
28,783,435
41,643,588
1,673,233
2,471,738
2,556,874
242,080
444,530
1,152,372
5,410,552
8,483,180
57,650
394,639
2,859,030
1,002,220
8,495,942
4,688,280
3,255,750
2,344,140
22,025,098
8,397,388
6,514,445
--------------- --------------- --------------76,345,380
52,838,241
62,707,361
--------------- --------------- --------------56,262,829
43,142,676
26,178,911
--------------- --------------- --------------81,102,017
68,259,892
51,816,436
=============== =============== ===============
FINANCED BY:
SHARE CAPITAL
Ordinary share capital
TOTAL SHARE CAPITAL
7,235,000
7,235,000
7,235,000
--------------- --------------- --------------7,235,000
7,235,000
7,235,000
RESERVES
Revaluation reserve
3,053,390
3,053,390
3,053,390
Retained profit/(Accumulated loss) carried
forward
68,629,692
54,160,153
37,639,752
--------------- --------------- --------------TOTAL RESERVES
71,683,082
57,213,543
40,693,142
--------------- --------------- --------------SHAREHOLDERS' FUNDS/EQUITY
78,918,082
64,448,543
47,928,142
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 23 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
LONG TERM & DEFERRED LIABILITIES & PROVISIONS
Hire purchase creditors
57,086
122,500
199,445
Deferred taxation
2,126,849
3,688,849
3,688,849
--------------- --------------- --------------TOTAL LONG TERM & DEFERRED LIABILITIES &
PROVISIONS
2,183,935
3,811,349
3,888,294
--------------- --------------- --------------81,102,017
68,259,892
51,816,436
=============== =============== ===============
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 24 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
FINANCIAL
RATIOS
AS AT 31 DEC 2000
LOH & LOH CONSTRUCTIONS SDN BHD
2000
RM
1999
RM
1998
RM
TYPES OF FUNDS
Cash
Net Liquid Funds
Net Liquid Assets
Net Current Assets/(Liabilities)
Net Tangible Assets
Net Monetary Assets
10,911,138
10,911,138
56,262,829
56,262,829
81,102,017
54,078,894
7,236,342
2,013,372
7,236,342
2,013,372
43,142,676
26,178,911
43,142,676
26,178,911
68,259,892
51,816,436
39,331,327
22,290,617
BALANCE SHEET ITEMS
Total Borrowings
Total Liabilities
Total Assets
Net Assets
Net Assets Backing
Shareholders' Funds
Total Share Capital
Total Reserves
299,166
78,529,315
157,447,397
81,102,017
78,918,082
78,918,082
7,235,000
71,683,082
567,030
56,649,590
121,098,133
68,259,892
64,448,543
64,448,543
7,235,000
57,213,543
LIQUIDITY (Times)
Cash Ratio
Liquid Ratio
Current Ratio
1,351,817
66,595,655
114,523,797
51,816,436
47,928,142
47,928,142
7,235,000
40,693,142
0.14
1.74
1.74
0.14
1.82
1.82
0.03
1.42
1.42
WORKING CAPITAL CONTROL (Days)
Stock Ratio
Debtors Ratio
Creditors Ratio
40
106
112
0
62
74
0
57
60
SOLVENCY RATIOS (Times)
Gearing Ratio
Liabilities Ratio
Times Interest Earned Ratio
0.00
1.00
235.01
0.01
0.88
93.43
0.03
1.39
169.38
PERFORMANCE RATIO (%)
Operating Profit Margin
Net Profit Margin
Return On Net Assets
Return On Capital Employed
Return On Shareholders' Funds/Equity
Dividend Pay Out Ratio (Times)
19.80
15.02
31.25
31.16
24.27
0.24
13.32
13.85
28.16
27.98
30.68
0.16
9.07
5.05
44.50
43.53
26.63
0.18
15,708,808
8,852,730
NOTES TO ACCOUNTS
Contingent Liabilities
24,891,564
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 25 ~
LOH & LOH CONSTRUCTIONS SDN. BHD.
* BASIS CORPORATION SDN BHD *
*NOTICE : This document is based on information obtained by us from sources believed to be true. However we do not make any representation as to its accuracy. Any advice or recommendation contained
in this documents or any sales or purchase of securities has been given without regard to the specific investment objectives, financial situations and the particular needs of any specific addressee. This
document is for the information of the addressee only and is not to be constructed as an offer or solicitation of an offer to buy or sell securities . We accept no liability whatsoever for any direct or
consequential loss arising from any user of this document or further communication given in relation to this document.
~ 26 ~