MIRA INFORM REPORT
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Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. RABANI CORPORINDO |
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Registered Office : |
Komplek Ruko Royal Sunter Block A-8, Jalan Danau Sunter
Selatan, Sunter Agung Podomoro, |
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Country : |
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Date of Incorporation : |
01.11.2007 |
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Com. Reg. No.: |
No. C-06667.HT.01.01.TH.2007 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading and Export Import of Garments |
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$ 131,500 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name
of Company
P.T. RABANI
CORPORINDO
company
Address
Head Office
Komplek Ruko Royal Sunter Block A-8
Jalan Danau Sunter Selatan
Sunter Agung Podomoro
Phones -
(62-21) 6516770 (Hunting)
Fax -
(62-21) 6516769
E-mail - info@rabanicorp.com
Website - http://www.rabanicorp.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date
of Incorporation
1 November 2007
Legal
Form
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company
Reg. No.
The
Ministry of Law and Human Rights
No. C-06667.HT.01.01.TH.2007
Dated 14 December 2007
Company
Status
Private National Company
Permit
by the Government Department
The
Department of Finance
Not Available
Related
Company
P.T. RANITA CEMERLANG (Trading, Export
Import of Textile Products)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 1,000,000,000.-
Issued Capital : Rp. 300,000,000.-
Paid up Capital : Rp. 300,000,000.-
Shareholders/Owners :
a.
Mr. Sanjay Lakhiani -
Rp. 150,000,000.-
Address : Nirwana Sunter Asri THP III C/45A
RT. 002 RW. 013, Sunter Agung Podomoro
b.
Mr. Murli Al Mahesh Chandumal Mirpuri -
Rp. 150,000,000.-
Address : Jl. Kintamani 1/105, RT. 004 RW.
007
Kelapa Gading,
BUSINESS ACTIVITIES
Lines of Business :
Trading and Export Import of Garments
Production Capacity :
None
Total Investment :
None
Started Operation :
2008
Brand Name :
Rabani Corporindo
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. GOLDEN FLOWER
b. P.T. JOYCELYNE CIPTA PRATAMA
c. P.T. NAV SHANTI
d. P.T. YULITA BUSINDO
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T.
Bank MANDIRI Tbk
Sunter
Agung Podomoro
b. P.T.
Bank UOB BUANA Tbk
Sunter
Agung Podomoro
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 8.7 billion
2009 – Rp. 9.4 billion
2010 – Rp. 10.0 billion
Net Profit (estimated) :
2008 – Rp. 435 million
2009 – Rp. 470 million
2010 – Rp. 550 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board
of Management :
President
Director - Mr. Sanjay Lakhiani
Director - Mrs.
Lajwanti Sanjay Lakhiani
Board
of Commissioners :
President
Commissioner - Mr. Murli
Al Mahesh Chandumal Mirpuri
Commissioner - Mrs. Nur
Hassanah Al Nimirta Mehesh
Signatories
:
President Director (Mr. Sanjay
Lakhiani) or the Director (Mrs. Lajwanti Sanjay Lakhiani) which must be
approved by Board of Commissioner
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 :
Trading and Export Import of Garments
OVERALL PERFORMANCE
P.T. RABANI CORPORINDO (P.T. RC) was established in
We observe that Mr. Sanjay Lakhiani is also business stakes owner of P.T. RANITA CEMERLANG a private national company engaged in trading and exporter of textile products.
P.T. RC started to be operating since 2008 to deal with
trading, distribution, export import of garments. The company export of
garments such as denims, shirts, t-shirts, blouses, casual wear, formal wear
and all kinds of garments. P.T. RC business is to go beyond design
manufacturing and marketing of clothes and jeans for men and women. P.T. RC
have built partnership with the best textile manufacturers producing high
quality fabrics in 100% cotton, cotton blends, 100% polyester and poly blends,
rayon, viscose and linens. In the garment field RC have marketing contracts
with factories producing shirts, t-shirts, blouses, dresses, and children wear.
The whole products obtained from garment manufacturing in the country produced
by P.T. APAC INTI CORPORATION, C.V. BADJATEX, P.T. BRATATEX, P.T. AMG and P.T.
SPS which operating in garment manufacturing. Mr. Sanjay Lakhiani, president
director of P.T. RC disclosed that the whole products is exported to various
countries among others are Middle East, Africa, Europe Union, North America,
South America etc. Besides, some of the products like denim is also imported
from
The demand for textile chemicals tended to be fluctuating
within the last five years in line with the fluctuating of Indonesian textile
industry in general. According to the Central Bureau of Statistics (BPS) the
Indonesian garments export in 2002 amounted to 333,100 tons (US$ 3,887.2
million) to 339,000 tons (US$ 4,037.9 million) in 2003 to 327.300 tons (US$
4,351.9 million) in 2004 to 369.500 tons (US$ 4,967.0 million) in 2005 to
399,600 tons (US$ 5,608.1 million) in 2006, to 399,800 tons (US$ 5,712.9
million) in 2007 and to 417,600 tons (US$ 6,092.2 million) in 2008 declined to
393.400 tons (US$ 5,735.6 million) in 2009. The Indonesia textile products
export in 2002 amounted to 1,425.9 tons (US$ 3,075.9 million) to 1,307.5 tons
(US$ 3,064.6 million) in 2003 to 1,300.4 tons (US$ 3,354.6 million) in 2004 to
1,427.3 tons (US$ 3,704.0 million) in 2005 to 1,477.8 tons (US$ 3,908.6
million) in 2006 to 1,473.6 tons (US$ 4,178.0 million) in 2007 and to 1,312.2
tons (US$ 4,127.9 million) in 2008 rose to 1,369.6 tons (US$ 3,602.8 million)
in 2009.
The domestic
textile producers are pessimism the textile export in 2009 could match the
export numbers in 2008. The blow of the global economic crisis is resulted in
the reduced of demand from the export destination countries like the United
States (U.S.),
|
Year |
Garment |
Textile Products |
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(Thousand Ton) |
(US$ Million) |
(Thousand Ton) |
(US$ Million) |
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2002 2003 2004 2005 2006 2007 2008 2009 |
333.1 339.9 327.3 369.5 399.6 399.8 417.6 393.4 |
3,887.2 4,037.9 4,351.9 4,967.0 5,608.1 5,712.9 6,092.2 5,735.6 |
1,425.9 1,307.5 1,300.4 1,427.3 1,477.8 1,473.6 1,312.2 1,369.6 |
3,075.9 3,064.6 3,354.6 3,704.0 3,908.6 4,178.0 4,127.9 3,602.8 |
Source: Central
Bureau of Statistic
Until this time P.T. RC has not been registered with
Indonesian Stock Exchange, so that they shall not obliged to announce their
financial statement. The management of P.T. RC is
very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total sales turnover of the company in 2008
amounted to Rp. 8.7 billion rose to Rp. 9.4 billion in 2009 increased to Rp.
10.0 billion in 2010 and projected to go on rising by at least 4% in 2011. It’s
estimated the operation in 2010 yielded net profit of at least Rp. 550 million
and the company has an estimated total networth of at least Rp. 1.0 billion. So
far, we did not heard that the company having been black listed by the Central
Bank (Bank
The management of P.T. RC is led by Mr. Sanjay Lakhiani
(42) a businessman and professional manager with experience in trading,
distribution and export import of garments. Daily activity he is assisted by
his wife Mrs. Lajwanti Sanjay Lakhiani (43) as director. The company's
management is handled by professional staff in the above business. They have
wide relations with private businessmen within and outside the country. So far, we did not hear that the management of the company
being filed to the district court for detrimental cases or involved in any
business malpractices. The company’s litigation record is clean and it
has not registered with the black list of Bank of Indonesia. P.T. RABANI
CORPORINDO is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.48 |
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1 |
Rs.72.37 |
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Euro |
1 |
Rs.64.42 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.