MIRA
INFORM REPORT
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Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
P.T. BAROKAH MANDIRI JAYA |
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Registered Office : |
Jalan Kliwon 1 No. 66A,
Tambak
Aji, Ngalian, Semarang, Central Java |
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Country : |
Indonesia |
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Date of Incorporation : |
12.08.2000 |
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Com. Reg. No.: |
C-18294 HT.01.01.TH.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Export 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$ 39,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of Company
P.T. BAROKAH MANDIRI JAYA
A d d r e s s
Head Office
Jalan Kliwon 1
No. 66A
Tambak Aji,
Ngalian
Semarang
Central Java
Indonesia
Phones - (62-24) 3541236,
7621017
Fax - (62-24) 3514134
Building Area - 1 storey
Office Space - 200 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation
12 August 2000
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No. C-18294
HT.01.01.TH.2001
Dated 5 November
2001
Company Status
Private National
Company
Permit by the Government
Department
The Department of Finance
NPWP No.
1.979.702.6-503
Related Company
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
30,000,000.-
Issued Capital : Rp.
30,000,000.-
Paid up Capital : Rp.
30,000,000.-
Shareholders/Owners
:
a. Mrs. Nafisah Ismail - Rp. 10,000,000.-
Address : Jl. Layur No. 66
Dadapsari, Kec. Semarang Utara
Cemarang, Central Java
Indonesia
b. Mrs. Aisyah -
Rp. 10,000,000.-
Address : Dukuh Kliwonan 1/66. A
Tambakaji, Ngaliyan
Semarang, Central Java
Indonesia
c. Mrs. Shenaz -
Rp. 10,000,000.-
Address : Jl. Layur No. 66
Dadapsari, Kec. Semarang
Utara
Cemarang, Central Java
Indonesia
BUSINESS ACTIVITIES
Lines of
Business:
Trading and
Export of Agricultural Products
Production Capacity
None
Total Investment
None
Started Operation
2001
Brand Name
None
Technical Assistance
None
Number of Employee
8 persons
Marketing Area
Export - 100%
Main Customer
Buyers in
Singapore, Malaysia, China and India
Market Situation
Very Competitive
Main Competitors
a. C.V. BIOLA
JAYA
b. P.T. ISPAK
c. P.T. ASIA
AGROMAS ABADI
d. P.T. GLOBAL
VISION IMPEX
e. Etc.,
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
B a n k e
r s :
a. P.T. Bank
MANDIRI Tbk
Semarang Main Branch
Central Java
Indonesia
b. P.T. Bank
NEGARA INDONESIA Tbk
Semarang Main Branch
Central Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2005 – Rp. 2.6
billion
2006 – Rp. 2.8
billion
2007 – Rp. 3.0
billion
Net Profit
(Loss) :
2005 – Rp. 156
million
2006 – Rp. 168
million
2007 – Rp. 180
million
Payment Manner
Average
Financial Comments
Satisfactory
KEY EXECUTIVES
Board of
Management :
President Director -
Mrs. Nafisah Ismail
Director -
Mrs. Aisyah
Board of
Commissioner :
Commissioner -
Mrs. Shenaz
Signatories :
President Director (Mrs. Nafisah Ismail)
or the Director (Mrs. Aisyah) which must be approved by Board of Commissioner.
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$ 39,000 on 90 days D/A
OVERALL PERFOMANCE
P.T. BAROKAH MANDIRI JAYA (P.T. BMJ) was established in Semarang,
Central Java on 12 August 2000 with the authorized capital of Rp. 30,000,000
entirely issued and paid up. The founding shareholders of the company are Mrs.
Nafisah Ismail, Mrs. Shenaz and Mrs. Aisyah. They are indigenous businessmen.
The deed of amended was made by Mr. Muhammad Hafidh, SH, a public notary in
Semarang, under Company Registration Number C-18294.HT.01.01.TH.2001, dated
November 15, 2001.
P.T. BMJ started with operation since 2001 in the field of trading and
exporter of agricultural products. The agricultural products are cashew nut,
ginggau (kencur), cubebs, long pepper and other agricultural products. The
whole agricultural product was bought from farmer in East Java, Madura island,
Central Java and others island of Indonesia. Some of the products is bought
from PD. RAJA AGUNG in Semarang, Central Java. Then, the whole products are
exported to Malaysia, China and India. Mrs. Nafisah Ismail, the director and
owner of the company explained that the whole products are exporter under job
order from their buyers in Malaysia, China and India. He went on to say that
the operation of P.T. BMJ is still classified as a small sized company of its
kind in Indonesia and its business operation had been growing slowly in the
last five 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 P.T.
ST to be in a quite favorable position for having already got hold of a steady
clientele in the country and abroad.
Export Volume of Agricultural Products, 2002-2007*
(Thousand Tons)
|
Products |
2002 |
2003 |
2004 |
2005 |
2006 |
2007* |
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Tea Rubber Coffee Spices Cocoa Bean Tobacco |
95.5 9,0 322,5 128,8 367,5 30,8 |
84,7 13,4 320,7 120,6 266,3 27,6 |
55,9 12,6 338,8 114,9 277,1 27,8 |
45,7 4,8 442,8 107,3 368,7 31,5 |
42,6 9,2 411,5 114,1 494,1 29,4 |
31,9 6,1 168,8 62,5 259,3 16,4 |
Export Value of Agricultural Products, 2002-2007*
(Million US$)
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Products |
2002 |
2003 |
2004 |
2005 |
2006 |
2007* |
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Tea Rubber Coffee Spices Cocoa Bean Tobacco |
98,1 6,6 218,8 186,1 521,3 66,5 |
91,8 12,3 251,0 186,3 410,4 44,5 |
64,8 14,7 281,5 153,7 370,2 45,6 |
48,0 46,4 497,7 138,0 468,2 62,9 |
51,1 14,3 583,2 188,6 620,3 57,3 |
42,7 8,7 347,2 139,2 402,3 36,9 |
Source : Central Bureau of Statistic, processed by
ICB
Remark : *) January-August 2007
Until this time P.T. BMJ 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 2005 amounted to Rp.
2.6 billion rose to Rp. 2.8 billion in 2006 increased to Rp. 3.0 billion in
2007 and projected to go on rising by at least 5% in 2008. The operation in
2007 yielded an estimated net profit of at least Rp. 180 million and the
company has an estimated total networth of at least Rp. 250 million. We observe
that P.T. BMJ is supported by financially not strong and sound behind it. So
far, we did not heard that the company having been black listed by the Central
Bank (Bank Indonesia).
The company is led by Mrs. Nafisah Ismail (34), a businessman and
professional manager with has experienced for more than 6 years in the field of
exporter of agricultural commodities products. The company has had wide
relation in the realm of the private businessmen within and outside the
country. 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. BAROKAH MANDIRI JAYA 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%)