MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
HOKIN AGRO TRADING |
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Registered Office : |
Jalan M.H.
Thamrin No. 2, |
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Country : |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietary
Company |
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Line of Business : |
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. |
Small |
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Maximum Credit Limit : |
US$ 94,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of Company
HOKIN AGRO TRADING
Address
Head Office
Jalan M.H. Thamrin
No. 2
Phones -
(62-61) 4157960, 4576835
Fax. - (62-61) 4152848
Handphone - 0811-616898 (Mr.
Wilson)
Building Area -
400 sq. meters
Building Space -
120 sq. meters
Region - Industrial
Zone
Status - Rent
Warehousing
Jalan Let. Kol.
Martinus Lubis No. 28
Building Area -
2,000 sq. meters
Building Space -
1,200 sq. meters
Region - Industrial
Zone
Status - Rent
Date of
Incorporation
2001’s
Legal Form
Sole Proprietary
Company
Company Reg. No.
Not Required
Company Status
National Private Company
Permit by the
Government Department
Not Available
Related Company
None
CAPITAL AND
OWNERSHIP
Capital Structure :
Owned Capital : Rp. 200.0
million
Owners :
Mr. Wilson
BUSINESS ACTIVITIES
Lines of Business:
Export Import of Agricultural Products
Production Capacity
None
Total Investment
None
Started Operation
2001’s
Brand Name
None
Technical
Assistance
None
Number of Employee
15 persons
Marketing Area
Export - 50%
Local - 50%
Main Customer
Buyers in
Philippine and local distributors
Market Situation
Very Competitive
Main Competitors
a. P.T. ALPS &
CO.
b. P.T. MULTIMULIA
LANGGENG
c. C.V. ARSAM
PRATAMA
d. P.T. USTRANESIA
e. C.V. MUKTI
JABAR
Business Trend
Growing
BANKER, AUDITOR
& LITIGATION
Bankers :
a. P.T. Bank
Jalan Jend. Sudirman No. 33
b. P.T. Bank LIPPO
Tbk
Jalan Pemuda
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 5.0
billion
2005 – Rp. 6.0
billion
2006 – Rp. 7.3
billion
Net Profit
(estimated) :
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. Willson
Board of Commissioners :
None
Signatories :
Director (Mr. Wilson) is only the
authorized person to sign the loan on behalf of the company
CAPABILITIES
Management Capability :
Satisfactory
Business Morality
Satisfactory
Credit Risk
Average
Credit Recommendation
Credit should be proceeded with monitor
Proposed Credit
Limit
Small amount – periodical review
Maximum Credit Limit
US$ 94,000 on 90 days D/A
OVERALL PERFOMANCE
HOKIN AGRO TRADING (HAT) was established in
HAT has been in operation since 2001’w dealing with export
import of agricultural products such as groundnuts, brownbeans, mung beans and
garlic. Mr. Wilson, the director and owner of the company explained that the
whole products such as groundnuts imported from
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 HAT 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. 5.0 billion increased to Rp. 6.0 billion in 2005 to Rp. 7.3
billion in 2006. It is projected that total sales turnover of the company will
be higher by at least 6% in 2007. We estimated the company has an estimated has
yielded a net profit of at least Rp. 500 million and estimated total networth
at Rp. 800 million. The financial condition of the
company is backed up by financially strong and sound businessmen behind it. So
far, we did not hear that the company having been black listed by the Central
Bank (Bank
The management of HAT is headed by Mr. Wilson (42), a professional manager and businessman who has experienced for more than 15 years in the field of export import of agricultural products. The management of the company is handled by experienced professional manager having wide relation with private businessmen of home and overseas as well as with the government sectors. 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. HOKIN AGRO TRADING 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%)