MIRA INFORM REPORT
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Report Date : |
05.07.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. BALI PERMAI CRAFINDO |
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Registered Office : |
Jalan Antara No. 5-7, Pasar Baru, Jakarta Pusat, 10710 |
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Country : |
Indonesia |
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Year of Establishment : |
1986 |
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Com. Reg. No.: |
No. AHU-AH.01.10-09910 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and
Distribution of Float Glass, Clear Tinted, Pattern Glass |
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$ 100,000 |
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Status : |
Small Company |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
P.T. BALI PERMAI CRAFINDO
company Address
Head Office
Jalan Antara No. 5-7
Pasar Baru
Jakarta Pusat, 10710
Indonesia
Phones - (62-21) 3857705, 3808513, 3451517
Fax -
(62-21) 3813662
E-mail - marketing@bpcglass.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
1986
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
- No.
AHU-25896.AH.01.02.TH.2008
Dated 16 May 2008
- No.
AHU-AH.01.10-09910
Dated 23 April 2010
Company Status
Private National Company
Permit by the Government
Department
The Department of
Finance
NPWP No. 01.320.051.1-026.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 400,000,000.-
Issued Capital :
Rp. 100,000,000.-
Paid up Capital :
Rp. 100,000,000.-
Shareholders/Owners :
a. Mr. Nanwani Haresh Thakurdas - Rp. 75,000,000.-
Address : Jl. Cempaka Putih Timur 25 No. 26
Kel. Cempaka Putih, Jakarta
Pusat
Indonesia
b. Mr. Nanwani Kamal Thakurdas - Rp. 25,000,000.-
Address : Jl. Cempaka Putih Timur 25 No. 26
Kel. Cempaka Putih, Jakarta Pusat
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading and Distribution of Float Glass, Clear Tinted,
Pattern Glass
Production Capacity :
None
Total Investment :
None
Started Operation :
1986
Brand Name :
Bali Permai Crafindo
Technical Assistance :
None
Number of Employee :
11 persons
Marketing Area :
Local - 100%
Main Customer :
Car Body Shops
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ESTU ADIMORE
b. P.T. JAYA
BERSAUDARA
c. P.T. TAMINDO
PERMAI GLASS
d. P.T. VETRO
PACIFIC
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Banker :
P.T. Bank MANDIRI Tbk
Jalan K.H.
Samanhudi No. 2
Pasar Baru
Jakarta Pusat
Indonesia
Auditor :
Internal
Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 6.2 billion
2009 – Rp. 7.0 billion
2010 – Rp. 7.6 billion
Net Profit (estimated) :
2008 – Rp. 372 million
2009 – Rp. 420 million
2010 – Rp. 471 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Nanwani Haresh Thakurdas
Board of Commissioners :
Commissioner - Mrs. Poonam
Thakurdas Nanwani
Signatories :
Director (Mr. Nanwani Haresh Thakurdas) 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 :
US$ 100,000 on 90 days D/A
OVERALL PERFORMANCE
P.T. BALI PERMAI CRAFINDO (P.T. BPC) was set up in 1986 by Mr. Nanwani Haresh Thakurdas and Mr. Nanwani Kamal Thakurdas, both are Indonesian businessmen of Indian descent. The company notary deed had been changed a couple of times and in April 2008 the authorized capital amounted at Rp. 400,000,000 issued capital at Rp. 100,000,000 entirely paid up. With this time the composition of its shareholders are Mr. Nanwani Haresh Thakurdas (75%) and Mr. Nanwani Kamal Thakurdas (25%). The deed of amendment was made by Mr. Fauzi Agus, SH., a public notary in Jakarta and was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-25896.AH.01.02.TH.2008 dated May 16, 2008. The latest in April 2010 the board of director and the board of commissioner of the company reappointed to lead and run of the company’s operation (see profile of this report). The latest revision of notary documents was made by Mr. Fauzi Agus, SH., a public notary in Jakarta and was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-09910 dated April 23, 2010.
P.T. BPC is a private national company dealing with trading and distribution of float glass with various types and specification. The merchandise goods products are float glass (clear and tinted), pattern glass, tempered glass, laminated glass, silvered mirrors-copper free, aluminum mirrors, painted glass, glass block, double glazing units and automotive laminated windshield. The whole products obtained from local glass producer such as P.T. TAMINDO PERMAI GLASS, P.T. MULTI ARTHAMAS GLASS INDUSTRY and the rest is imported from various countries. Some 90% of the products supplied to various building contractors, automotive assembling, car body repairs and others industries. Besides, 10% of its products exported to Asian countries, Africa, Southeast Asia, Europe countries, North America and South America. We observe that P.T. BPC is a small-size company of its kinds which operation has been growing slowly in the last three years.
Generally, local demand for safety glasses had been increasing by 8% to 9% on the average per annum in the last five years having close relation with the growing development of industrial sectors such as automotive industries, office buildings, hotels, apartments, luxurious houses, hospitals, shopping centers and others. However, the global economic crisis in October 2008 and tight money policy imposed by Bank Indonesia had caused the demand to decline and started increasing since the early 2009 in line with the amelioration of the economic condition in the country. The competition is very tight on account of lots of similar companies operating in the country. The business position of P.T. BPC is appraised to be favorable for having established regular customers and wide marketing networks in Indonesia.
Until this time
P.T. BPC has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T. BPC 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. 6.2 billion
rose to Rp. 7.0 billion in 2009 increased to Rp. 7.6 billion in 2010 and
projected to go on rising by at least 4% in 2011. The operation in 2010 yielded
an estimated net profit of at least Rp. 471 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 Indonesia).
The company usually pays its debts punctually to suppliers.
The management of
P.T. BPC is led by Mr. Nanwani Haresh Thakurdas (47) a businessman and
professional manager with experience in trading and distribution of float
glass. 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. BALI PERMAI CRAFINDO is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.46 |
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UK Pound |
1 |
Rs.71.53 |
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Euro |
1 |
Rs.64.63 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.