MIRA INFORM REPORT

 

 

Report Date :           

02.12.2011

 

IDENTIFICATION DETAILS

 

Name :

TOKO BANDUNG JAYA

 

 

Registered Office :

Jalan Bandung No. 9, B-17/122, Pasar Baru, (Simpang Jl. Pelangkaraya), Medan 20212, North Sumatra

 

 

Country :

Indonesia

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trading and Distribution of Snack Food and Beverages

 

 

No. of Employees :

8 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 130,000

Status :

Moderate

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Indonesia

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Name of Concern

 

TOKO BANDUNG JAYA

 

 

concern Address

 

Head Office

Jalan Bandung No. 9, B-17/122, Pasar Baru

(Simpang Jl. Pelangkaraya)

Medan 20212, North Sumatra

Indonesia

Phone               - (62-61) 4145561

Fax                   - (62-61) 4574495

Building Area     - 2 storey

Office Space      - 120 sq. meters

Region              - Commercial

Status               - Owned

 

 

Year of Incorporation

 

1990’s

 

 

Legal Form

 

Sole Proprietary Concern

 

 

Concern Reg.No.

 

The Ministry of Law and Human Rights

Not Required

 

 

Concern Status

 

Private Concern

 

 

Permit by the Government Department

 

The Department of Finance

Not available

 

 

Related Concern

 

Not available

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Owned Capital                  - Rp. 300,000,000.-

 

Owner :

Mr. Ah Wie AKA Ahui    - 100%

 

 

BUSINESS ACTIVITIES

 

Lines of Business :                        

Trading and Distribution of Snack Food and Beverages

 

Total Investment :

Owned Capital     - Rp. 580 million

 

Started Operation :

1990

 

Brand Name :

TOKO BANDUNG JAYA

 

Technical Assistance :

None

 

Number of Employee :

8 persons                                       

 

Marketing Area :

Local (Domestic)    - 100%

 

Main Customers :

Individuals and Corporate in Medan and its surroundings

Market Situation :

Very Competitive

 

Main Competitors :

a. Toko Medan Jaya

b. Toko Kue Gembira

c. Toko Selera Hati

d. Toko Sartika Jaya

e. Toko Lezat

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

P.T. Bank CENTRAL ASIA Tbk

Medan Branch

Jl. Diponegoro No. 15

Medan, North Sumatra

Indonesia

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Total Sales/Revenue (estimated) :

2008 – Rp. 7.0 billion

2009 – Rp. 8.2 billion

2010 – Rp. 9.5 billion

2011 – Rp. 5.6 billion (January – June)

 

Net Profit (estimated) :

2008 – Rp. 358 million

2009 – Rp. 420 million 

2010 – Rp. 485 million

2011 – Rp. 286 million (January – June)

 

Payment Manner :

Average

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                           - Mr. Ah Wie AKA Ahui

 

Board of Commissioners :

Commissioner                                 - None

 

Signatories :

The Director (Mr. Ah Wie AKA Ahui) is the only person who is authorized to sign the loan on behalf of the concern

 

 

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$ 130,000 on 90 days D/A

 

 

OVERALL PERFORMANCE

 

The correct name of the concern is TOKO BANDUNG JAYA or BANDUNG JAYA Shop was established in Medan, North Sumatra in 1990’s with a legal status of sole proprietary concern.  The founding owners are Mr. Ah Wie AKA Ahui, a Chinese origin Indonesian businessman.   The same as other sole proprietary legal status concern, the amount of its capital was not mentioned at its establishment deed. It is estimated that TOKO BANDUNG JAYA owns a capital of Rp. 300 million and it will be rising in line with the progress of its business operation.

 

TOKO BANDUNG JAYA has been in operation as from 1990 dealing with trading and distribution of snack food and beverages.  Mr. Ahui, owner of the concern disclosed that the type of snack food and beverages being traded are including cocktail and mushroom canned, kikof olde English, spaghetti, baking powder, macaroni, corn powder, chili sauce, vermicelli and others.  Mr. Ah Wie added that most of the products are imported from Malaysia (Kumpulan Barkath Foods Sdn. Bhd.) and others are imported from Thailand and Singapore.  The above snack foods are sold to various companies such as snack food retails and individuals in Medan and it surrounding.   We observe that TOKO BANDUNG JAYA is classified as a small sized concern of its kind in the country of which the operation has been growing in the last three years.

 

Generally outlook we find the local demand for snack food and beverages had been rising by 9% to 10% per year within the last five years.  It is in line with the growth of mini-markets, supermarkets and hypermarkets in the country.  It is projected the demand will be higher by at least 8% per year within the coming five years. Competition is very tight due to a large number of similar imported products are marketed in the country.  Business position of TOKO BANDUNG JAYA is quite well for it has controlled customers and a wide marketing network in Medan and its surroundings.

 

TOKO BANDUNG JAYA 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 concern in 2008 amounted to Rp. 7.0 billion increased to Rp. 8.2 billion in 2009 rose again to Rp. 9.5 billion in 2010 and projected to go on rising by at least 12% in 2011. The operation in 2010 yielded an estimated net profit of at least Rp. 485 million and the concern has an estimated total networth of at least Rp. 580 million.  So far, we did not heard that the concern having been black listed by the Central Bank (Bank Indonesia). The concern usually pays its debts punctually to suppliers.

 

The management of TOKO BANDUNG JAYA is led by Mr. Ah Wie AKA Ahui (53) a businessman of Chinese extraction with experience more than 21 years in trading, distribution and importing of snack food and beverages.  In daily activities, he is assisted by a number professional staffs 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 concern being filed to the district court for detrimental cases or involved in any business malpractices. The concern’s litigation record is clean and it has not registered with the black list of Bank of Indonesia.

 

TOKO BANDUNG JAYA is sufficiently fairly good for business transaction.  However, in view of the global economic slowdown we recommend to treat prudently in extending a loan to the concern.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.65

UK Pound

1

Rs.81.06

Euro

1

Rs.69.51

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.