MIRA
INFORM REPORT
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Report Date : |
13.08.2007 |
IDENTIFICATION DETAILS
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Name : |
C.V. BANDAR |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1997 |
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Legal Form : |
Partnership with sleeping partner |
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Line of Business : |
Trading and Export of Agricultural
Products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 32,800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of Company
C.V. BANDAR
Address
Head Office
Kuala Tungkal
Jambi
Phone -
(62-742) 21563
Fax. - (62-742) 21563
Handphone - 0811-740869 (Mr.
Haji Syawal Hamid)
Building Area - 1 storey
Office Space - 360 sq. meters
Region - Housing
Status - Owned
Date of Incorporation
1997
Legal Form
C.V.
(Commanditaire Vennootschaft) or partnership with sleeping partner
Company Reg. No.
Not Required
Company Status
Private Company
Permit by the
Government Department
Not Available
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Owned Capital : Rp. 200.0 million
Owners :
a. Mr. Haji Syawal
Hamid (Active Partner)
b. Mrs. Rokiah
(Silent Partner)
BUSINESS ACTIVITIES
Lines of Business:
Trading and Export of Agricultural
Products
Production Capacity
None
Total Investment
None
Started Operation
1997
Brand Name
None
Technical Assistance
None
Number of Employee
7 persons
Marketing Area
Export - 100%
Main Customer
Buyers in
Market Situation
Very Competitive
Main Competitors
a. P.T. INDOPAK
TRADING
b. P.T. INDO
MAJAHID IMPEX
c. P.T. SAFRAN
TRADING
d. P.T. SHAZAB
SALWAINDO TRADING
e. P.T. SHEMSY
POLAINDAH
f. Etc.,
Business Trend
Growing
BANKER, AUDITOR &
LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk
Kuala Tungkal Main Branch
Jambi
b. P.T. Bank DANAMON
Kuala Tungkal Main Branch
Jambi
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 2.1
billion
2005 – Rp. 2.3
billion
2006 – Rp. 2.5
billion
Net Profit (Loss)
:
2004 – Rp. 126 million
2005 – Rp. 140 million
2006 – Rp. 175
million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Haji Syawal Hamid
Board of Commissioners :
None
Signatories :
Director (Mr. Haji Syawal Hamid) is only
the authorized person to sign the loan on behalf of the company
CAPABILITIES
Management Capability :
Good
Business Morality
Good
Credit Risk
Average
Credit Recommendation
Credit should be proceeded with monitor
Proposed Credit
Limit
Small amount – periodical review
Maximum Credit Limit
US$ 32,800.- on the 90 days of payments
OVERALL PERFOMANCE
C.V. BANDAR JAKARTA was established in 1997 in Kuala Tungkal, Jambi,
with the legal status of Commanditaire Vennootschaf (C.V) or partnership with
sleeping partner. Founders and owners of
C.V. BJ are Mr. Haji Syawal Hamid as active partner and his wife Mrs. Rokiah as
silent partner, both are indigenous business family. Being as a C.V. company,
the amount of its authorized capital was not mentioned at the time of its
establishment. We estimate, C.V. BJ has
own capital of about Rp. 200 million and it will be rising in line with the
progress of its business operation.
Previously C.V. BJ has been operating since 1997 operates in
general contracting services. After operation since 1997, the company has
completed the projects such as construction of roads, drainage, Junior High
School and Senior High School building in Kuala Tungkal. But the operation of
the contracting services had been declining in that period. Then in February
2007, the company activity has been expanding to trading and export of
agriculture products. Mr. Haji Syawal Hamid, director of the company disclosed
that areca nut, spices is exported to
We have noticed that the demand for agricultural products had
increased some 10% to 11% per annum in the last five years in line with the
growth of industrial manufacturing in the country and international market. In
the coming years, the growth rate of demand is estimated at about 6% to 7% per
annum. The present market situation for agricultural products is very
competitive for a large number of similar companies operating in the country.
Meanwhile, competition is quite heavy in the export import of agricultural
products with many companies now doing business in this field in
Until this time C.V. BJ has not been registered with Indonesian
Stock Exchange, so that they shall not obliged to announce their financial
statement. We observed that total sales turnover of the company in 2004
amounted to Rp. 2.1 billion increased to Rp. 2.3 billion in 2005 and to Rp. 2.5
billion in 2006. The operation in 2006 yielded an estimated net profit at least
Rp. 175 million and the company has an estimated total networth at least Rp.
550 million. It is projected that total sales turnover of the company will
increase at least 7% in 2007. We observe that C.V. BJ is supported by
financially fairly strong behind it. So far, we did not hear that the company
having been black listed by the Central Bank (Bank
The management of C.V. BJ is led by Mr. Haji Syawal Hamid (50), a businessman with 5 years of experience in trading and export of agricultural products. The management of the company is handled by a number of staff having wide relation with private businessmen within and outside the country and with the government sectors as well. We observed that management’s reputation in said business is fairly good. So far, we did not hear that the company’s management involved in a dirty business practice or detrimental cases that settled in the country. The company’s litigation record is clean and it has not registered with the black list of Bank of Indonesia. C.V. BANDAR JAKARTA is sufficiently fairly good for business transaction. However, in view of the unstable economic condition in the country we recommend to treat prudently in extending a loan to the company.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)