MIRA INFORM REPORT
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Report Date : |
17.06.2011 |
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Tel. No.: |
6221 7207601 |
IDENTIFICATION DETAILS
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Name : |
P.T. AMARDEEP INDO SAKTI |
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Formerly Known As : |
PD. AMARDEEP |
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Registered Office : |
Jalan R.S.
Fatmawati No. 75-K, Cipete
Utara, Kebayoran Baru, Jakarta Selatan, 12150 |
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Country : |
Indonesia |
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Year of Establishment : |
1982 |
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Com. Reg. No.: |
No.
AHU-AH.01.10-08827 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Interior Decorators and
Designers |
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$ 105,600 |
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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
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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. AMARDEEP INDO SAKTI
company Address
Head Office
Jalan R.S.
Fatmawati No. 75-K
Cipete Utara,
Kebayoran Baru
Jakarta Selatan,
12150
Indonesia
Phones - (62-21) 7205959, 7207718-21
Fax -
(62-21) 7205959
E-mail -
amardeep@cbn.net.id
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
a. 1982 as PD.
AMARDEEP
b. 3 February 1993 as
P.T. AMARDEEP INDO SAKTI
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
- No.
C2-8332.HT.01.01.TH.94
Dated 30 May 1994
- No.
AHU-AH.01.10-08827
Dated 29 June 2009
Company Status
Private National Company
Permit by the Government
Department
The Department of Finance
NPWP No. 01.549.255.6-019.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 1,000,000,000.-
Issued Capital :
Rp. 1,000,000,000.-
Paid up Capital :
Rp. 1,000,000,000.-
Shareholders/Owners :
a. Mr. Ashok Kumar Hariram Nanwani - Rp. 450,000,000.-
Address : Jl. Nangka I No. 9,
Cipete Utara
Kebayoran Baru,
Jakarta Selatan
Indonesia
b. Mr. Perkash Hariram Nanwani - Rp. 450,000,000.-
Address : Jl. Agung Tengah XI I.8 No. 1,
Tanjung Priok, Jakarta
Utara
Indonesia
c. Mrs. Lajwanti Ashok Nanwani - Rp. 100,000,000.-
Address : Jl. Nangka I No. 9, Cipete Utara
Kebayoran Baru,
Jakarta Selatan
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading and Distribution of Interior Decorators and
Designers
Production Capacity :
None
Total Investment :
None
Started Operation :
1982 when it was PD. AMARDEEP
Brand Name :
Amardeep Indo Sakti
Technical Assistance :
None
Number of Employee :
23 persons
Marketing Area :
Local - 100%
Main Customer :
Apartment, Hotel, Office Building, Houses, etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ABADI INDORONA
b. P.T. GEMA GRAHA
SARANA
c. P.T. SERBA
ANTIK INTERIOR
d. P.T. TRIKALINDO KHARISMA
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan R.S. Fatmawati No. 5
Jakarta Selatan
Indonesia
b. P.T. Bank MANDIRI Tbk
Jalan R.S. Fatmawati No. 75
Jakarta Selatan
Indonesia
Auditor :
Internal
Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 7.0 billion
2009 – Rp. 7.5 billion
2010 – Rp. 8.0 billion
Net Profit (estimated) :
2008 – Rp. 630 million
2009 – Rp. 675 million
2010 – Rp. 720 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Ashok Kumar Hariram Nanwani
Director - Mr.
Perkash Hariram Nanwani
Board of Commissioners :
Commissioner - Mrs. Lajwanti
Ashok Nanwani
Signatories :
President Director (Mr. Ashok Kumar Hariram Nanwani) or the
Director (Mr. Perkash Hariram Nanwani) which must be approved by Board of
Commissioner
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$ 105,600 on 90 days D/A
OVERALL PERFORMANCE
Originally named P.D. AMARDEEP with a legal status of sole proprietorship, it was founded in 1982 by Mr. Ashok Kumar Nanwani, an Indian born Indonesian businessman. In February 1993 the company was renamed P.T. AMARDEEP INDO SAKTI (P.T. AIS) with a status of P.T. (Perseroan Terbatas) or Limited Liability Company and its authorized capital was amounted to Rp. 1,000,000,000 issued and paid up capital of Rp. 500,000,000. The founding shareholders of the company are now being Mr. Ashok Kumar Hariram Nanwani his wife Mrs. Lajwanti Ashok Nanwani, and Mr. Perkash Hariram Nanwani, they are Indian origins Indonesian business family. The company notary deed has been changed and in May 2009 the issued capital was raised to Rp. 1,000,000,000 entirely paid up. With this development the composition of its shareholders has been changed to become Mr. Ashok Kumar Hariram Nanwani (45%), Mr. Perkash Hariram Nanwani (45%) and Mrs. Lajwanti Ashok Nanwani (10%). The latest revision of notary deed was made by Mr. Adi Triharso, SH., a public notary in Jakarta and was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-08827 dated June 29, 2009.
P.T. AIS has been operating since 1982 in the trading and distribution of interior decorator and design. The company sells of interior decorator products like curtain, sheer, upholstery fabric, sofa, sofa bed, bed cover, table cloth, cushion, carpet, wallpaper, accessories, roman blind, wooden blind, vertical blind and horizontal blind. Mr. Ashok, the owner, stated that the company is trading various cloth/fabrics for upholstery, sofa, window-curtain, etc., and all materials are imported from several European countries like the United Kingdom, Germany, Belgium, Sweden, Italy and so forth. The products of the company are offered to various office-building managements, hotels, apartments, contractors, and medium-high class society. Besides, some of the products are sold to several hotels like Mandarin Hotel, HII-Natour, Borobudur Hotel, Arya Duta Hotel, Puri Casablanca Apartment, etc. P.T. AIS supply a variety of different styles and designs of curtains and sofas to suit each individual preference and comfort. Their sofas range from classic to modern designs.
The company completed all the orders on schedule within the budget required whilst
maintaining the standard of quality. We observe that P.T. AIS is classified as
a medium sized company in the country dealing with trading of interior
decorator products of which the operation has been running smoothly and growing
in the last five years.
Generally, local demand for textile products had been increasing by 7% to 8% on the average per annum in the last five having close relation with the rapidly growing development of luxurious housing complexes, office buildings, hotels, apartments and others in the above period as consumers. However, the global economic crisis in October 2008 and tight money policy imposed by Bank Indonesia had caused the demand to decline up to end 2008 and started increasing since 2009 in line with the amelioration of the economic condition in the country. The demand is estimated to be rising by 7% next year. The competition is very tight on account of lots of similar companies operating in the country. The business position of P.T. AIS is appraised to be favorable for having established wide marketing networks and its products are popular among medium-high class society.
Until this time P.T. AIS has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. AIS 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. 7.0 billion rose to Rp. 7.5 billion in 2009 increased to Rp. 8.0 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. 720 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. AIS is led by Mr. Ashok Kumar Hariram
Nanwani (60) a businessman and professional manager with experience in trading,
import and distribution of interior decorator products. He has been leading the
company since 1982 when the company’s name was still P.D. AMARDEEP. In his
daily activities, he is assisted by Mr. Perkash Hariram Nanwani (56) as a 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. AMARDEEP INDO SAKTI 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.44.90 |
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UK Pound |
1 |
Rs.72.54 |
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Euro |
1 |
Rs.63.39 |
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.