|Current Status||Break-Even, Profitable|
|Funding Required||RM1,000,001 to RM2,000,000|
|Description||Briefly the company has been in the manpower business since 2007. We supply 5 Star Hotels and upmarket Restaurants with trained Filipino workers and last year we incorporated a Manpower Services Company in the Phil. We now are focussed in supplying Filipino workers to other countries be it skilled , knowledge based or semi – skilled workers.
ITH used to have a turnover of about RM 5 million a year in Malaysia and now we are doing about RM3 Million due to the fact that we have reduced staff numbers as we require funding to bring in more staff into Malaysia. We have a confirmed requirements for another 100 staff and the only hindrance is the capital requirements.
As for the Philippines under Panacea International Manpower we have spent about RM500,000 to get the licences and for salaries for the start-up operations over the last 14 months , The outlook for the business in the Phil is good as the job markets in Europe and Asia are opening up and we have the contacts to get things moving. The projected monthly turnover is around US$ 50,000 to $150,000 a month. This is a very conservative figure.
We require an investment of about RM2.5 Million to settle of borrowings and also for working capital in return for a stake in the company.
The best way for me to present my case would be in person and I hope that you would be able to spare me some time to present my case.
I have enclosed a brief company profile for your attention.