SME - SHIN SOLUTIONS (M) SDN BHD, Smecorp,
RM 400,000 bagi 36 tempoh bulan. RM 400,000 dibiayai
Is this a Shariah-compliant Investment Note? / Adakah ianya Nota Pelaburan patuh Syariah?
Yes.
Who is the Issuer and what does the business do?
Shin Solutions (M) Sdn Bhd is incorporated in 13.9.2022. In fact, it is upgraded from Shin Solutions which is incorporated in 15.9.2021. The nature of business is providing the engineering services related to mechanical and production line in manufacturing industry. We are providing our clients the advice and services from the step of design until the job is completed. Some examples of our completed jobs are including mechanical piping, UPW (Ultra Pure Water) system, deionization water treatment, mechanical piping and fabrication. Our clients base mostly come from manufacturer nationwide coverage. Our jobs are project basis and the length of the projects is normally within one year subject to the job scope provided.
Who is the owner / key person(s) in the business?
The company is managed by two directors named Mr Tang Mun Sin and Mdm Ong Qiao Ru. Both of them are spouse. Mr Tang holds the 80% of shareholding while the rest of 20% owned by Mr Ong Keng Yeh who is an investor and does not involving of the business operation. Mr Tang is the founder and key person in the business. He is not only in charge of the sales but also has to monitor the job progressive status. He has more than 11 years of experience in the industry which came from the previous company named IPEX Solutions Sdn Bhd and he acted as one of directors in 2013.
What are their future plans?
The future plan is to expand the team and increase the capacity in order to tender more projects. Based on past 3 years of performance, the turnover is increasing steadily and expected to be grow further in in future 2-3 years. This is because the keyman has developed the wide connection and network over his past experience in the industry.
What has been their annual sales turnover?
Based on the latest Financial Report of 2023, the turnover recorded as RM 1.98mil and the profit recorded as RM140k. The profit margin from last year is about 7% which will be further improved in this year. It is because we had recruited the subcontractor to complete some parts of our jobs due to lack of manpower in last year. This year the situation has been improved as our team has been expanded and we aim to complete the job by our own to increase the company profit margin.
Number of years in business?
The Sdn Bhd has been operating for 2 years. In fact, the total length of operation is about 3 years because the company is upgraded from Enterprise which is incorporated in Sep 2021.
How would the Issuer utilise the funds raised on the platform?
The funds are used for working capital to support the operation cost especially the wages. Due to our nature business, our payments are subject to the job completion status. Meanwhile, we had expanded our team in order to increase our capacity. Wages contribute a lot to our operation cost. Thus, this fund can empower our cash flow to tender more jobs and increase the turnover.
The rationale behind the Issuer's Credit Risk Score - microLEAP's Comments
N/A
Nota Pelaburan ini membayar Kadar Faedah sederhana atas dan mempunyai Risiko Kagalan sederhana atas.
Ia mempunyai Kualiti Kredit sederhana rendah kerana aliran tunai purata hingga rendah dan Nisbah Perkhidmatan Hutang rata-rata hingga tinggi.
Nota Pelaburan ini membayar Kadar Faedah terendah dan mempunyai Risiko Kagalan terendah.
Ia mempunyai Kualiti Kredit terkuat kerana aliran tunai yang sangat tinggi dan Nisbah Perkhidmatan Hutang yang sangat rendah.
Nota Pelaburan ini membayar Kadar Faedah yang lebih rendah dan mempunyai Risiko Kagalan yang lebih rendah.
Ia mempunyai Kualiti Kredit yang lebih kuat kerana aliran tunai yang tinggi dan Nisbah Perkhidmatan Hutang yang rendah.
Nota Pelaburan ini membayar Kadar Faedah yang rendah dan mempunyai Risiko Kagalan yang rendah.
Ia mempunyai Kualiti Kredit yang kuat kerana aliran tunai yang baik dan Nisbah Perkhidmatan Hutang yang baik.
Nota Pelaburan ini membayar Kadar Faedah sederhana-rendah dan mempunyai Risiko Kagalan sederhana-rendah.
Ia mempunyai Kualiti Kredit sederhana yang kuat kerana aliran tunai purata hingga baik dan Nisbah Perkhidmatan Hutang rata-rata hingga baik.
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Nota Pelaburan ini membayar Kadar Faedah sederhana dan mempunyai Risiko Kagalan sederhana.
Ia mempunyai Kualiti Kredit sederhana kerana purata aliran tunai dan rata-rata Nisbah Perkhidmatan Hutang.
Nota Pelaburan ini membayar Kadar Faedah sederhana tinggi dan mempunyai Risiko Kagalan sederhana tinggi.
Ia mempunyai Kualiti Kredit yang lemah sederhana kerana aliran tunai di bawah purata dan Nisbah Perkhidmatan Hutang di atas purata.
Nota Pelaburan ini membayar Kadar Faedah sederhana atas dan mempunyai Risiko Kagalan sederhana atas.
Ia mempunyai Kualiti Kredit sederhana rendah kerana aliran tunai purata hingga rendah dan Nisbah Perkhidmatan Hutang rata-rata hingga tinggi.
Nota Pelaburan ini membayar Kadar Faedah yang tinggi dan mempunyai Risiko Kagalan yang tinggi.
Ia mempunyai Kualiti Kredit yang lemah kerana aliran tunai yang rendah dan Nisbah Perkhidmatan Hutang yang tinggi.
Nota Pelaburan ini membayar Kadar Faedah yang lebih tinggi dan mempunyai Risiko Kagalan yang lebih tinggi.
Ia mempunyai Kualiti Kredit yang lebih lemah kerana aliran tunai yang lebih rendah dan Nisbah Perkhidmatan Hutang yang lebih tinggi.
Nota Pelaburan ini membayar Kadar Faedah tertinggi dan mempunyai Risiko Kagalan tertinggi.
Ia mempunyai Kualiti Kredit yang paling lemah kerana aliran tunai yang sangat rendah dan Nisbah Perkhidmatan Hutang yang sangat tidak sihat.
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