MIRA
INFORM REPORT
|
Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
P.T. DAKAI IMPEX |
|
|
|
|
Registered Office : |
Jalan Teluk Kumai Timur No. 60-66 Surabaya, East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
25.01.2002 |
|
|
|
|
Com. Reg. No.: |
No. AHU-28177.AH.01.02.Tahun 2009 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading, Export-Import and Distribution of Agricultural Products |
|
|
|
|
No. of Employees : |
40 persons |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 650,000 |
|
Status : |
Satisfactory |
|
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 30, 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 Company
P.T. DAKAI IMPEX
Address
Head Office
Jalan Teluk Kumai Timur No. 60-66
Surabaya, East
Java
Indonesia
Phones -
(62-31) 3291514, 3299496
Fax. - (62-31) 3291701
Building Area - 450 sq. meters
Office Space - 220 sq. meters
Region - Commercial
Status - Owned
Registration data
Date of
Incorporation :
25 January 2002
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
No.
AHU-28177.AH.01.02.Tahun 2009
Dated 24 June 2006
Company Status :
Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 02.091.788.6-631.000
Related Company
:
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
- Rp.
6,500,000,000.-
Issued Capital - Rp.
1,625,000,000.-
Paid up Capital - Rp.
1,625,000,000.-
Shareholders/Owners :
a. Mr. Chan Luen
Kai -
Rp. 812,500,000.- (50%)
Address : Jl. Manyar Kertoardjo 8/35
Surabaya, East Java,
Indonesia
b. Mrs. Tjong Yuviana
Kurniawati - Rp.
487,500,000.- (30%)
Address : Jal. Manyar Kertoarjo 8/35
Surabaya, East Java
Indonesia
c. Mr. Chan Hon Ngai AKA Hans Chan - Rp. 325,000,000.- (20%)
Address : Jl. Manyar
Kertoardjo 8/35
Surabaya, East Java
Indonesia
BUSINESS ACTIVITIES
Lines of Business
:
Trading, Export-Import and Distribution of
Agricultural Products
Production
Capacity :
None
Total Investment :
a. Owned Capital - Rp. 6.5 billion
b. Loan Capital - None______
c. Total
Investment - Rp. 6.5 billion
Started Operation :
June 2002
Brand Name :
None
Technical Assistance :
None
Number of Employee :
40 persons
Marketing Area :
a. Local - 60%
b. Export - 40%
Main Customers :
a. Traditional
markets in Surabaya, Bali and its sorroundings
b. Overseas buyers
in the USA, Europe Union
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM
INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI SAMPOERNO
d. C.V. PUTRA NUSA
e. C.V. SUMBER
BUMI JAYA
f. C.V. ARSAM
PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Jl. Basuki Rachmat
No. 129-137
Surabaya, East Java
Indonesia
b. P.T. Bank
CENTRAL ASIA Tbk
Jl. Raya Darmo No. 5
Surabaya, East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2007 Rp. 34.0
billion
2008 Rp. 38.0
billion
2009 Rp. 43.2
billion
2010 Rp. 48.0
billion
2011 Rp. 34.7
billion (January June)
Net Profit (Loss)
:
2007 Rp. 1.5 billion
2008 Rp. 1.7 billion
2009 Rp. 1.9
billion
2010 Rp. 2.1
billion
2011 Rp. 1.5
billion (January June)
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
Director
- Mr. Fearmin Chandra
Board of
Commissioners :
Commissioner - Mr. Chan Hon Ngai AKA Hans Chan
Signatories
:
Directors (Mr.
Fearmin Chandra) which must be approved by Board of Commissioner (Mr. chan Hon
Ngai AKA Hans Chan)
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$ 650,000.- on the 90 days of payments
OVERALL PERFORMANCE
P.T. DAKAI IMPEX (P.T. DI)
was established in Surabaya, East Java in January 2002 with an authorized
capital of Rp. 6,500,000,000.- issued capital of Rp. 1,625,000,000.- entirely
paid up. The founding shareholders are Mr. Chan Luen Kai (50%), his wife Mrs.
Tjong Yuviana Kurniawati (30%) and his son Mr. Chan Hon Ngai AKA Hans Chan
(20%). They are Indonesian businessmen/woman of Chinese extraction. The Articles of Association was made by Mrs.
Evy Retno Budiarty, SH., a public notary in Surabaya under Company Registration
Number C-04244 HT.01.01.TH. 2002, dated March 14, 2002. Composition of the
board of director and the board of commissioner shall be as follows:
Director - Mrs.
Tjong Yuviana Kurniawati
Commissioner - Mr. Chan Luen Kai
In March 2009, the
composition of the board of director and commissioner was changed. The amendment of the Articles of Association
was approved by the Minister of Law
and Human Rights of the Republic of Indonesia by virtue of Decision Letter No.
AHU-28177.AH.01.02.Tahun 2009 dated June 24, 2009. Composition of the board of
director and the board of commissioner shall be as follows:
Director - Mr.
Fearmin Chandra
Commissioner - Mr. Chan Hon Ngai
AKA Hnas Chan
P.T. DI has been in operation
since June 2002 in trading, export import and distribution of agricultural
products. Miss Wiwid, an export-import
staff of the company explained that the whole agricultural products likes
mungbean, nutmeg, clove, cashew nut, pepper and sesame seed bought from farmer
in Sumatra, Sulawesi, Java and others island of Indonesia. Then, the whole products are exported to the
United States of America and Europe Union.
Besides, the company also imported of garlic, shallot, onion, peanut
from China, India, Vietnam, Myanmar and Thailand. The whole products supplied
to snack food industries and traditional market in Surabaya, East Java and
Bali. They also directly supplied of
peanut and snack food industries like P.T. DWI KELINCI in East Java and other
food industries in Surabaya and its surroundings. We observed that P.T. DI is classified as a
medium sized company of its kind in the country of which the operation 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 P.T. DI to
be in a quite favorable position for having already got hold of a steady
clientele in the Java and surroundings.
Until this time
P.T. DI 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 2008 amounted of Rp. 38.0 billion increased to
Rp. 43.2 billion in 2009 and rose again to Rp. 48.0 billion in 2010. The operation in 2010 yielded an estimated net
profit at least Rp. 2.1 billion and the company has an estimated total networth
at Rp. 12.0 billion. It is forecasted that total sales turnover of the company
will increase at least 10% in 2011. The Based on information obtained from some
customers, the payment habit of the company is smooth ranging from 1 to 3
months. So far, we did not
heard that the company having been black listed by the Central Bank (Bank
Indonesia).
Since March 2009, the management of the
company has been led by Mr. Fearmin Chandra (31), a professional manager as
director and he is assisted by Mr. Chan Hon Ngai AKA Hans Chan (31) as
Commissioner. But, we believe that the
prime-mover of the company is Mrs. Tjong Yuviana Kurniawati (54) and her
husband Mr. Chan Luen Kai (67), with more than 22 years experience in trading
and distribution of agricultural products.
The management, which is evaluated quite creative and dynamic, also has
succeeded in expanding their overseas marketing network. We consider the
management is quite capable of further developing business in the future. They
have close relations with many high-ranking government officials as well as
with private businessmen within and outside the country. So far, we did not
hear that the companys management involved in the business malpractices or
detrimental cases that settled in the country. The companys litigation record
is clean and it has not registered with the black list of Bank of Indonesia.
P.T. DAKAI IMPEX is appraised good for
business transaction. But owing to economic condition in the country is still
unstable, we recommend to treat prudently in extending any new loan to the
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.39 |
|
|
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
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 SCs 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.