MIRA
INFORM REPORT
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Report Date : |
8th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
UD. JAYA ABADI |
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Registered Office : |
Jalan Muara Baru No. 1A, Gudang Kompas, Jakarta Utara, Indonesia |
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Country : |
Indonesia |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietary Company |
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Line of Business : |
Trading and Export Import of Agricultural Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Name of Company
UD. JAYA ABADI
Address
Head Office
Jalan Muara Baru No. 1A
Gudang Kompas, Jakarta Utara
Indonesia
Phone - (62-21) 6691218, 70501222
Fax. - (62-21) 6624923
Building Area - 2 storey
Office Space - 360 sq. meters
Region - Commercial Building
Status - Rent
Date of Incorporation
2002’s
Legal Form
Sole Proprietary Company
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. 300.0 million
Owners :
Mr.
Akok -
100%
BUSINESS ACTIVITIES
Lines of Business:
Trading and Export Import of Agricultural Products
Production Capacity
None
Total Investment
None
Started Operation
2002’s
Brand Name
None
Technical Assistance
None
Number of Employee
5 persons
Marketing Area
Domestic - 90%
Export - 10%
Main Customer
Export of clove, mung bean, spice (Buyer in Malaysia, Singapore, Thailand and China) and
traditional market especially in Jakarta and surroundings
Market Situation
Very Competitive
Main Competitors
a. P.T. DAKAI MPEX
b. P.T. ALAM INDORAMA
c. C.V. BUMI DJAJA
d. C.V. JAYA BERSAMA
e. C.V. PUTRA NUSA
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank LIPPO Tbk
Jalam Muara Baru
Jakarta Utara
Indonesia
b. P.T. Bank
CENTRAL ASIA Tbk
Jalan Muara Baru
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 3.7 billion
2005 – Rp. 4.0 billion
2006 – Rp. 4.3 billion
Net Profit (Loss) :
2004 – Rp. 0.3 billion
2005 – Rp. 0.4 billion
2006 – Rp. 0.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Akok
Board of Commissioners :
None
Signatories :
Director (Mr. Akok) is only the authorized person to sign the
loan on behalf of the company.
CAPABILITIES
Management Capability :
Satisfactory
Business Morality
Satisfactory
Credit Risk
Above Average
Credit Recommendation
Credit should be extended under
guarantee
Proposed Credit Limit
C.O.D. To small
amount
Maximum Credit Limit
US$ 50,000.- on the 90 days of payments
OVERALL PERFOMANCE
UD. JAYA ABADI (JA) was established in Jakarta in 2002’s with a status
of Sole Proprietary Company. Founders and owner of the company is Mr. Akok, a
Indonesian businessman of Chinese extraction. Being as Sole Proprietary
Company, the amount of its authorized capital was not mentioned at the time of
its establishment. In our estimate, the company has own capital of about Rp.
300 million and it will be rising in line with the progress of its business
operation.
UD. JAYA ABADI (JA) had been operating since 2002’s in trading, export
import and distribution of agricultural products. Mr. Akok, a director and
owner of the company explained that the whole agricultural products likes mung
bean is imported from Burma, Myanmar, chili imported from India and China. The
whole products like mung bean and chili supplied to snack food industries and
traditional market in Jakarta, Bekasi, Tangerang, Karawang and Cikarang.
Besides, the company also exported of clove, mung bean and other spices to
Malaysia, Singapore, Thailand and China. The clove and mung bean products
collected from the farmer of Java islands. We observed that the company’s
operation has been growing slowly in the last three years.
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 Indonesia. We consider UD.
JA to be in a quite favorable position for having already got hold of a steady
clientele in the country and abroad.
Until this time UD. JA 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.
3.7 billion increased to Rp. 4.0 billion in 2054 and to Rp. 4.3 billion in
2006. The operation in 2006 yielded an estimated net profit at least Rp. 0.5
billion and the company has an estimated total networth by at least Rp. 755
million. It is forecasted that total sales turnover of the company will
increase at least 7% in 2007. We observe that UD. JAYA ABADI is supported by
financially fairly strong behind it. So far, we have never heard of the company
having been black listed by the Central Bank (Bank Indonesia). Mr. Akok, the
director of the company disclosed that the company usually pays its debts
punctually to suppliers.
The company is led out by Mr. Akok (41), a businessman who experienced
for more than 5 years in the field of trading, export import and distribution
of agricultural products. The company has had wide relation in the realm of the
private businessmen inside and outside the country. Their relation with the
government is fairly good. So far, we have never heard 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.
UD. JAYA ABADI 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/normal. |
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%)