MIRA
INFORM REPORT
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Report Date : |
11.08.2011 |
IDENTIFICATION DETAILS
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Name : |
C.V. SUMBER BUMI JAYA |
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Registered Office : |
Pasar Induk
Beras Cipinang Block J No. 7 Jalan Pisangan Lama Timur Cipinang Jakarta Timur, 13230 |
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Country : |
Indonesia |
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Date of Incorporation : |
2000 |
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Legal Form : |
Partnership
with Sleeping Partner |
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Line of Business : |
Trading and Export
Import of Ground Nuts, Green Bean and White Pepper |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 85,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Indonesia |
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
C.V. SUMBER
BUMI JAYA
Address
Head Office
Pasar Induk Beras Cipinang Block J No. 7
Jalan Pisangan Lama Timur
Cipinang
Jakarta Timur, 13230
Indonesia
Phones -
(62-21) 47865177, 47865178
Fax - (62-21) 47865215
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Rent
Registration data
Date of Incorporation :
2000’s
Legal Form :
C.V.
(Commanditaire Vennootschap) or Partnership with Sleeping Partner
Company Reg.
No. :
Not Required
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Owned Capital : Rp. 600
million
Shareholders/Owners
:
a. Mr. Tejo Supradi (Active Partner)
b. Mrs. Supradi (Silent Partner)
BUSINESS ACTIVITIES
Lines of
Business :
Trading and
Export Import of Ground Nuts, Green Bean and White Pepper
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2000’s
Brand Name :
Sumber Bumi Jaya
Technical
Assistance :
None
Number of
Employee :
12 persons
Marketing Area
:
Export - 100% (Green Bean and White Pepper)
Local - 100% (Ground Nuts)
Main Customer
:
Buyers in
Southeast Asia, Europe Union and the USA
Market
Situation :
Very Competitive
Main Competitors :
a. C.V. ARSAM PRATAMA
b. C.V. MUKTI JABAR
c. C.V. PRIMATAMA
d. C.V. SAHARA
e. Etc.
Business Trend
:
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r :
P.T. Bank MANDIRI
Tbk
Jalan Matraman
Raya No. 31
Jakarta Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2008 – Rp. 4.5
billion
2009 – Rp. 5.2
billion
2010 – Rp. 6.5
billion
2011 – Rp. 4.5
billion (January – June)
Net Profit
(estimated) :
2008 – Rp. 0.5
billion
2009 – Rp. 0.6
billion
2010 – Rp. 0.7
billion
2011 – Rp. 0.4
billion (January – June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director -
Mr. Tejo Supradi
Board of Commissioners :
None
Signatories :
Director (Mr. Tejo
Supradi) 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$ 85,000 on 90
days D/A
OVERALL PERFORMANCE
C.V. SUMBER BUMI
JAYA (C.V. SBJ) was established in Jakarta in 2000’s with the legal status of
Commanditaire Vennootschaaf (C.V) or partnership with sleeping partner. Founders and owners of
the company are Mr. Tejo Supradi as active partner and his wife Mrs. Suprdi as
silent partner. Both are Indonesian business family of Chinese extraction.
Being as a C.V. company, the amount of its authorized capital was not mentioned
at the time of its establishment. We estimate, C.V. SBJ has own capital of
about Rp. 600 million and it will be rising in line with the progress of its
business operation.
C.V. SBJ was
started to be operating since 2000 to deal with trading, distribution and
export import of green bean (mung bean), white pepper and ground nuts.
Initially the company sells of rice which imported from Thailand, and Vietnam.
However since the end of 2008 C.V. SBJ focused its activities in exported of
spice and import of ground nuts. Mr. Tejo Supradi, director and owner of the
company disclosed that C.V. SBJ exported of green bean and white pepper to
South East Asia, Europe and America. The whole spices (white pepper and green
bean) gathered from farmers in Bangka Belitung and surroundings. Besides, C.V.
SBJ is also import of ground nuts from India. The whole ground nuts distributed
and marketed locally through tradition market in Jakarta and surroundings. Mr.
Tejo Supradi also added that the white pepper is also sold through exporter
firms with a price of Rp. 75,000 per KG. Further he explained that the company
is also manages a warehouse in Bangka to accommodate of spices with 2,000 sq.
meters. Besides, the ground nut is also marketed through tradition market in
Bangka Belitung Province. We observe the operation of C.V. SBJ has been growing
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 C.V. SBJ to be in a
quite favorable position for having already got hold of a steady clientele in
the Java and surroundings.
Until this time
C.V. SBJ has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of C.V.
SBJ 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. 4.5 billion rose to Rp. 5.2 billion in 2009 increased to Rp.
6.5 billion in 2010. As from January to June 2011 the sales turnover was
reached at Rp. 4.5 billion with a net profit of Rp. 0.4 billion and projected
to go on rising by at least 5% in 2011. So far, we did not heard that the
company having been black listed by the Central Bank (Bank Indonesia). The
company usually pays its debts punctually to suppliers.
The management
of C.V. SBJ is led by Mr. Tejo Supradi (49) a businessman and professional
manager with experience in trading, distribution and export import of
agricultural products. 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. C.V. SUMBER BUMI
JAYA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.51 |
|
Euro |
1 |
Rs.64.76 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.