Full Aces

Full Aces Sdn Bhd is a selling, distributing, servicing, repairing and maintaining automotive parts and related materials. The business had a turnover of approximately RM 25 million in 2020 with a pre-tax profit of approximately RM 700,000.

'In the past decade, the company was able to secure valuable returning customers, due to our ability to provide a wide range of genuine and high quality automotive spare parts with competitive pricing in Malaysia. We are the purveyor of high-quality products such as Shock Absorbers, Disc Rotors, Brake Pads, Coil Springs, Hydraulic Clutches and Engine Oils, which are also our core products. '

This is Full Aces Sdn. Bhd.'s 9th financing round with Alixco P2P Financing.

This investment note is secured by two personal guarantees, as required by ALIXCO P2P Financing.

'Our aim for this funding is to fund our purchases so that we can buy in cash term and request for rebates from our suppliers, this will allow us to have a more competitive pricing as compared with our competitors. We can make repayments as soon as our customers pay us back within their credit terms. Even during the MCO period we maintain our customer collection within 90days. '

'Full Aces Sdn Bhd: The company was started in 2012 by our founders, Wong Ye How and Tiong Hoon Fut, in selling primarily sedan car auto parts. Mr. Wong and Mr. Tiong have known each other since childhood as they are classmates. Mr. Wong has a wide extensive of experience in the spare parts industry. Before setting up his own company, he previously worked at Hua Hong Sdn. Bhd. as a Sales Manager, covering the whole west and east Malaysia region while leading a team of 15 salesmen. He has worked at the company for more than 12 years before deciding to venture out on his own. Mr. Tiong on the other hand started of as a technician at Sun Eng Hup, slowly climbing up within 10 years to technical advisor due to his expertise in the department. With sufficient background in the industry, supplement by their market knowledge and existing relationship to have a steady customer base, they both set out to form Full Aces Sdn Bhd to cater the blooming industry. In the past decade, the company was able to secure valuable returning customers, due to our ability to provide a wide range of genuine and high quality automotive spare parts with competitive pricing in Malaysia. We are the purveyor of high-quality products such as Shock Absorbers, Disc Rotors, Brake Pads, Coil Springs, Hydraulic Clutches and Engine Oils, which are also our core products. In the year 2019, due to prolong health issues, Mr. Tiong has decided to sell all his shares in the company to Mr. Wong and Mr. Loh Kin Fatt. Mr. Loh is an existing employee to the company and has been with us since the inception of the company. He is currently the lead Sales Manager, incharge of guiding our junior salesmen.  

'Our company started by our founders who has extensive experience and network in the industry. We provide high quality and consistent products, while sourcing them at competitive pricing. We have been fortunate to have growth year on year with a profitable and growing balance sheet. We are currently expending our product range base on pricing on higher end product models with better quality and longer lasting.'

'Our target market is usually medium to large size SME who typically deals in automotive, tires, spare parts and hardware in this industry. We are able to maintain such customers to be with us all these years due to our competitive pricing and our lasting relationship with them. We provide all our customers with our best service and constant care for their needs while maintaining high quality products.'

Funding amount
RM 300,000.00 for 4 months.
15,0% interest (nominal, p.a.)

Business type
Selling, Distribution, Service, Repair and Maintenance of automotive parts and related materials.

Location
L1-10, Silk Sky, Jalan KB 2/15, KG. Baharu Balakong, 43300, Seri Kembangan. (2012)

Number of outlets
One

Number of directors
Two

Personal guarantees
Two

Year of incorporation
2008

Number of employees
22

Important COVID-19 info:

The recent COVID-19 crisis and the MCO increase the riskiness of any P2P financing. Due to the severity and uncertainty of this situation, the risk of late payments and/or loss of capital for P2P financings increases. Companies might suffer from loss of business and revenue during this time, which will affect their profitability and repayment ability.

The risk score of CAA3 (‘High risk’) was determined by a blend of our internal risk-based pricing algorithm, an external risk score from a leading credit rating agency and a variety of qualitative factors. It is an approximation only and does not guarantee any specific outcome. Our risk score ranges from A(‘lower risk’), B(‘medium risk’), C(‘medium-high risk’) to D(‘high risk’). The risk score of CAA3 (‘higher risk’)  indicates that this investment amount has an elevated-high level of risk.Please note that the automotive / spare parts industry is marked by volatility and relatively low margins, increasing the riskiness of this investment note. Please note that Full Aces Sdn Bhd has over RM 11 million in outstanding credit (i.e. debt).

Full Aces Sdn Bhd has the following financials in 2020 and 2019:

'FYE 2020 total revenue: 25,139,876, profit before tax: 709,583
FYE 2019 total revenue: 26,284,573, profit before tax: 855,489'

Additional risk info about Full Aces Sdn Bhd:

This is Full Aces Sdn Bhd's 9th financing round with Alixco P2P. Full Aces Sdn Bhd has previously had 8 other financing rounds of RM 300,000 each with Alixco P2P, 6 of which which have been fully repaid and 2 of which still has upcoming repayments of approx. RM 500,000. Please take note that Full Aces Sdn Bhd has liabilities with other creditors amounting to approx. > RM15-20 million , which significantly increases the riskiness of this investment note. 


Investor Fees
Alixco charges 0.65 % for investors (for 4 months investment notes) on repayments only if repayment occurs.

We are the purveyor of high-quality products such as Shock Absorbers, Disc Rotors, Brake Pads, Coil Springs, Hydraulic Clutches and Engine Oils, which are also our core products.