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NT-2106-00007

NT-2106-00007

i
MR5

VX Garage - HQ, Retail,

RM 50,000 for 12 month term. RM 50,000 funded

100 % Funded

Is this a Shariah-compliant Investment Note? / Adakah ianya Nota Pelaburan patuh Syariah?

Yes/Ya

Who is the Issuer and what does the business do? / Siapakah Penerbit dan apakah perniagaan diceburi mereka?

This is our 17th Islamic Investment Note issued on microLEAP. VX Garage (part of the VX Brands group of companies) focuses on the development and sales of new products for auto-parts. We have a range of 5 new products that will be launched accordingly: Industrial Oils, Wiper Blades, Motorcycle Service Parts, Merchandising Products and Brake Fluids. We supply these products to our VX Garage kiosks that are run by B40 entrepreneurs through our micro-franchise dealership program. Today, VX Garage has 343 micro-franchise outlets making us the biggest automotive retail outlet chain.
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Ini adalah Nota Pelaburan Islamik ke-17 kami yang dikeluarkan di microLEAP. VX Garage (sebahagian daripada kumpulan syarikat VX Brands) memberi tumpuan kepada pengembangan dan penjualan produk baru untuk alat ganti kenderaan. Kami mempunyai rangkaian 5 produk baru yang akan dilancarkan: Oli industri, Wiper Blade, Bahagian Servis Motosikal, Merchandising Products, dan Brake Fluids. Kami membekalkan produk ini ke kios VX Garage kami yang dikendalikan oleh usahawan B40 melalui program pengedar francais mikro kami. Hari ini, VX Garage mempunyai 343 gerai francais mikro menjadikan kami rangkaian kedai runcit automotif terbesar.

Who is the owner / key person(s) in the business? / Siapakah Pemilik Perniagaan ini?

The owner has more than 10 years of experience in multiple business segments across various industries. The team is currently 47 strong.
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Pemiliknya mempunyai pengalaman lebih dari 10 tahun dalam pelbagai segmen perniagaan di pelbagai industri. Pasukan ini kini terdapat 47 orang kuat dibelakang tabir.

What are their future plans? / Apakah pelan masa depan perniagaan ini?

With over 300 outlets currently operating and a members database of 150,000, apart from the expansion into more outlets the management has decided to expand into more product SKU to leverage from the already existing infrastructure.
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Dengan lebih dari 300 gerai beroperasi dan pangkalan data anggota sebanyak 150,000, selain pengembangan ke lebih banyak gerai, pihak pengurusan telah memutuskan untuk memperluas SKU produk lebih banyak untuk memanfaatkan infrastruktur yang sudah ada.

What has been their annual sales turnover? / Bagaimanakah hasil jualan tahunan?

Our annual sales turnover for the group for the year of 2020 has exceeded RM 4,000,000. Average gross margin is at 35%.
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Perolehan tahunan kami untuk kumpulan pada tahun 2020 melebihi RM 4,000,000. Purata margin kasar adalah pada 35%.

Number of years in business? / Usia perniagaan?

The business has been operational since August 2011 and undergone a rebranding exercise and reincorporated in November 2019.
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Perniagaan ini telah beroperasi sejak Ogos 2011 dan menjalani proses penjenamaan semula dan disatukan semula pada November 2019

How would the Issuer utilise the funds raised on the platform? / Apakah yang kami akan lakukan dengan wang yang dikumpul di platfrom ini?

The funds will be directly put into the purchase of fast-moving products mainly Passenger Car Motor Oils.
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Dana tersebut akan dimasukkan secara langsung ke dalam pembelian produk yang bergerak pantas terutamanya Minyak Motor Kereta Penumpang.

The rationale behind the Issuer's Credit Risk Score - microLEAP's Comments / Rasional Skor Risiko Kredit bagi Penerbit– Komen microLEAP

The Issuer will use the funds to purchase mainly Passenger Car Motor Oils which will be sold through their VX Garage kiosks that is run by B40 entrepreneurs. The Issuer has a Guarantor for this financing that is rated 'strong' with a Probability of Default (PD) score of 0.3% from an external credit bureau. The risk is MR5 (Medium Risk 5) and so it has a medium credit quality and medium risk of default. The Issuer has no outstanding bank loans but has a monthly obligation to microLEAP of RM22,698 per month which includes 17 investment notes issued. The Issuer is a good and prompt paymaster. There is more than sufficient revenue to cover this monthly payment on multiple investment notes.
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Penerbit akan menggunakan dana tersebut untuk membeli terutamanya 'Passenger Car Motor Oils' yang akan dijual melalui kios VX Garage mereka yang dikendalikan oleh pengusaha B40. Penerbit mempunyai Penjamin untuk pembiayaan ini yang dinilai 'kuat' dengan skor Kebarangkalian Lalai (PD) 0.3% dari biro kredit luaran. Risikonya adalah MR5 (Medium Risk 5) dan dengan itu mempunyai kualiti kredit sederhana dan risiko keingkaran sederhana. Penerbit tidak mempunyai pinjaman bank yang belum dijelaskan tetapi mempunyai kewajipan bulanan untuk microLEAP sebanyak RM22,698 sebulan yang merangkumi 17 nota pelaburan yang dikeluarkan. Penerbit adalah pembayar yang baik dan cepat. Terdapat lebih daripada pendapatan yang mencukupi untuk menampung pembayaran bulanan ini pada beberapa nota pelaburan.

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Rate of Returns
12% p.a
Total Gross Return on Investment
-

Funded Note

Credit Ratings
MR5
Medium Risk 5

This Investment Note pays a medium Interest Rate and has a medium Risk of Default.
It has a medium Credit Quality due to average cashflow and average Debt Service Ratio.

LR1
Low Risk 1

This Investment Note pays the lowest Interest Rate and has the lowest Risk of Default.
It has the strongest Credit Quality due to very high cashflow and very low Debt Service Ratio.

LR2
Low Risk 2

This Investment Note pays a lower Interest Rate and has a lower Risk of Default.
It has a stronger Credit Quality due to high cashflow and low Debt Service Ratio.

LR3
Low Risk 3

This Investment Note pays a low Interest Rate and has a low Risk of Default.
It has a strong Credit Quality due to good cashflow and good Debt Service Ratio.

MR4
Medium Risk 4

This Investment Note pays a medium-low Interest Rate and has a medium-low Risk of Default.
It has a medium-strong Credit Quality due to average to good cashflow and average to good Debt Service Ratio.
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MR5
Medium Risk 5

This Investment Note pays a medium Interest Rate and has a medium Risk of Default.
It has a medium Credit Quality due to average cashflow and average Debt Service Ratio.

MR6
Medium Risk 6

This Investment Note pays a medium-high Interest Rate and has a medium-high Risk of Default.
It has a medium-weak Credit Quality due to below average cashflow and above average Debt Service Ratio.

MR7
Medium Risk 7

This Investment Note pays an upper-medium Interest Rate and has an upper-medium Risk of Default.
It has a lower-medium Credit Quality due to average to low cashflow and average to high Debt Service Ratio.

HR8
High Risk 8

This Investment Note pays a high Interest Rate and has a high Risk of Default.
It has a weak Credit Quality due to low cashflow and high Debt Service Ratio.

HR9
High Risk 9

This Investment Note pays a higher Interest Rate and has a higher Risk of Default.
It has a weaker Credit Quality due to lower cashflow and higher Debt Service Ratio.

HR10
High Risk 10

This Investment Note pays the highest Interest Rate and has the highest Risk of Default.
It has the weakest Credit Quality due to very low cashflow and very unhealthy Debt Service Ratio.

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