MIRA
INFORM REPORT
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Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. JARING MAS
SAKTI |
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Registered Office : |
Jalan Outer Ring Road, Komplek Mutiara Taman Palem Block C 19
No. 35, Cengkareng, |
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Country : |
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Date of Incorporation : |
13 December 2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Supplies of Food
Ingredients |
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. |
Small |
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Maximum Credit Limit : |
US$ 52,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of Company
P.T. JARING MAS SAKTI
Address
Head Office
Jalan Outer Ring
Road
Komplek Mutiara
Cengkareng
Phone -
(62-21) 5435 5855
Fax. - (62-21) 5435 3529
E-mail - suhendra-chiu@centrin.net.id
Building Area - 2 storey
Office Space - 400 sq. meters
Region -
Status - Rent
Date of Incorporation
13 December 2006
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Justice and Human Rights
No. W7-02751
HT.01.0-TH.2007
Dated 20 March
2007
Company Status
National Private Company
Permit by the
Government Department
The Directorate of General Tax
NPWP No. 02.589.737.2-034.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
: Rp.
500,000,000.-
Issued Capital : Rp.
220,000,000.-
Paid up Capital : Rp.
220,000,000.-
Shareholders/Owners :
a. Mr.Suhendra Toib -
Rp. 176,000,000.-
Address : Jl. Jelambar Jaya IV/1 Rt. 001/009
Jelambar Baru,
b. Mr. Lie Siaw Hong -
Rp. 22,000,000.-
Address
: Jl. Jelambar Jaya IV/1 Rt. 001/009
Jelambar Baru,
c. Mrs. Bethi
- Rp. 22,000,000.-
Address
: Jl. CC 1, Rt. 005/004
Cengkareng,
BUSINESS ACTIVITIES
Lines of Business:
Trading, Import and Supplies of Food
Ingredients
Production Capacity
None
Total Investment
None
Started Operation
January 2007
Brand Name
None
Technical Assistance
None
Number of Employee
7 persons
Marketing Area
Local - 100%
Main Customer
a. P.T. MAYORA
INDAH
b. P.T. KARUNIA
ALAM SEGAR (the WINGS Group)
c. The ORANG TUA
Group
Market Situation
Very Competitive
Main Competitors
a. P.T. TRIMAJU
BERSAMA
b. P.T. QUEST
INTERNATIONAL
c. P.T. ESSENCE
d. P.T. PACHIRA
DISTRANUSA
Business Trend
Growing
BANKER, AUDITOR &
LITIGATION
Bankers :
P.T. Bank
Jalan Muara Karang
Raya Block Y 3 No. 1
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2007 – Rp. 4.0
billion (January-August)
Net Profit (Loss)
:
2007 – Rp. 0.1 billion (January-August)
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Suhendra Toib
Board of Commissioners :
President Commissioner -
Mr. Lie Siaw Hong
Commissioner - Mrs. Bethi
Signatories :
Director (Mr. Suhendra Toib) which must
be approved by Board of Commissioners
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$ 52,000.- on the 90 days of payments
OVERALL PERFOMANCE
P.T. JARING MAS SAKTI (P.T. JMS) was established in
P.T. JMS has been operating since the early of 2007 engaged in
the field of trading, import and distribution of food ingredients. The merchandising
goods such as food color, coloring food and other food ingredients is imported
from
The demand for ingredients and food ingredients and food
seasoning products has kept on rising by 9% to 10% per annum in the last three
years in line with the sustained growth in food and beverage processing
industry in
Until this time P.T. JMS 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 the first
year operation from January to August 2007 amounted to Rp. 4.0 billion and
projected to go on rising in 2007. The operation as from January to August 2007
yielded an estimated net profit by at least Rp. 100 million and the company has
an estimated total net worth by at Rp. 350 million. It is projected that total
sales turnover of the company will increase at least 8% in 2007. We observe
that P.T. JMS 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 P.T. JMS is led by Mr. Suhendra Toib (44) a businessman and professional manager who has experienced for more than 10 years in the field of trading, import and supplies of food ingredients. We observed that management’s reputation in said business is fairly good. 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 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. P.T. JARING MAS SAKTI is 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%)