MIRA INFORM REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. JANNISIKA SUMBER JAYA |
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Registered Office : |
Jalan Pinang Merah No. 8, Kosambi Baru II Block D Ext. 1, Duri Kosambi, Jakarta Barat, 11750 |
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Country : |
Indonesia |
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Date of Incorporation : |
21.02.2000 |
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Com. Reg. No.: |
No.
AHU-21993.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importer and Distribution of Pharmaceutical, Food
and Veterinary Raw Materials |
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$ 175,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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. JANNISIKA SUMBER JAYA
company Address
Head Office
Jalan Pinang Merah No. 8
Kosambi Baru II Block D Ext. 1
Duri Kosambi
Jakarta Barat, 11750
Indonesia
Phones - (62-21) 5411648, 5439609
Fax -
(62-21) 5880817
Building Area - 2 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
21 February 2000
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry
of Law and Human Rights
- No.
C-15402.HT.01.01.TH.2000
Dated 26 June 2000
- No.
AHU-21993.AH.01.02.TH.2008
Dated 29 April 2008
Company Status
Private National Company
Permit by the Government
Department
The Department
of Finance
NPWP No. 01.930.612.5-034.000
The Department
of Industry and Trade
TDP No. 09.02.1.51.20411
Dated 4 May 2005
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 1,000,000,000.-
Issued Capital :
Rp. 500,000,000.-
Paid up Capital :
Rp. 500,000,000.-
Shareholders/Owners :
a. Mr. Felix
Agung Laoda -
Rp. 247,500,000.-
Address : Jl. Taman Girisenda Block A4/17, RT. 008
RW. 003, Kel. Kapuk Muara,
Kec.
Penjaringan, Jakarta Utara
Indonesia
b. Mrs. Grace
Muliawati -
Rp. 247,500,000.-
Address : Jl. Taman Girisenda Block A4/17, RT. 008
RW. 003, Kel. Kapuk Muara,
Kec.
Penjaringan, Jakarta Utara
Indonesia
c. Ms. Suharni -
Rp. 5,000,000.-
Address : Jl. Taman Girisenda Block A4/17, RT. 008
RW. 003, Kel. Kapuk Muara,
Kec.
Penjaringan, Jakarta Utara
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading, Importer and Distribution of Pharmaceutical, Food
and Veterinary Raw Materials
Production Capacity :
None
Total Investment :
None
Started Operation :
March 2000
Brand Name :
Jannisika Sumber Jaya
Technical Assistance :
None
Number of Employee :
13 persons
Marketing Area :
Local - 100%
Main Customer :
Animal Feed Mills
Market Situation :
Very Competitive
Main Competitors :
a. P.T. AGRINUSA UNGGUL JAYA
b. P.T. AROMINDO MANDIRI
c. P.T. HELM INDO
d. P.T. INDOVETRACO MAKMUR ABADI
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Banker :
P.T. Bank OCBC NISP Tbk
Jalan Duri Kosambi Raya No. 36-37
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 11.0 billion
2009 – Rp. 12.2 billion
2010 – Rp. 13.3 billion
Net Profit (estimated) :
2008 – Rp. 0.6 billion
2009 – Rp. 0.7 billion
2010 – Rp. 0.8 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Felix Agung Laoda
Board of Commissioners :
Commissioner - Mrs. Grace
Muliawati
Signatories :
Director (Mr. Felix Agung Laoda) 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$ 175,000 on 90 days D/A
OVERALL PERFORMANCE
P.T. JANNISIKA SUMBER JAYA (P.T. JSJ) was established in Jakarta on February 21, 2000 with an authorized capital of Rp. 700,000,000 issued capital of Rp. 210,000,000 wholly paid-up. Founders and shareholders are Mrs. Grace Muliawati and her husband Mr. Felix Agung Laoda, both are Chinese origin Indonesian business family. The company notary deed has been changed and in December 2007 the authorized capital was raised to Rp. 1,000,000,000 issued capital to Rp. 500,000,000 entirely paid up. On the same occasion their daughter Ms. Suharni entered into the company as new shareholder. With this development the composition of its shareholders has been changed to become Mr. Felix Agung Laoda (49.5%), Mrs. Grace Muliawati (49.5%) and Ms. Suharni (1%). The company latest revision of notary documents was made by Mrs. Pudji Redjeki Irawati, SH., was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-21993.AH.01.02.TH.2008 dated April 29, 2008.
P.T. JSJ has engaged in general trading, sole agency, import and distribution for pharmaceutical, food and veterinary raw materials. The company has been operating since 2000 sells and distributed of various animal feed additives, health medicine, animal drugs and other raw material for animal feeds. To facilitate P.T. JSJ's business, the company has become a member of the Indonesian Veterinary Medicines Association. Mr. Felix Agung Laoda, Director of P.T. JSJ disclosed the above product has mostly been imported from Spain, France, Germany, China and India. The whole product supplied to a large extent animal feed industries, including P.T. GOLD COIN INDONESIA, P.T. BINA SATWA FARM, P.T. CIPENDAWA FARM, P.T. MULTIBREDER ADIRAMA, P.T. MULTIPHALA AGRINUSA, P.T. JAPFA COMFEED, and others. We observe that P.T. JSJ activities have been developing in the last three years.
In overall we find the demand for like poultry farming and breeding, feed animal medicine and other animal feed had been rising in 2010, in line with a relative better animal husbandry sector. The demand for meat, egg has also tended to rise in line with a better economic condition in the country. The rising demand for livestock products in 2010 had increased animal husbandry business both big livestock like goat, sheep, cow and poultry like chicken, broiler, duck, etc. Among the above livestock, poultry business is the most growing very fast. However, the increasing economic indicator are not followed by the demand for animal medicines by animal feed industries and animal and DOC farming since 2007 to 2010. This condition is caused by the difficulties especially the contagious bird influenza disease faced by animal feed industries causing thousands of poultry to die in several regions in the country. This case will also cause the public absorption power level in consuming poultry products to decline. This difficult situation has made many animal feed industries to suffer from a loss especially animal feed industry. Competition is very tight due to a large number of similar companies operating in the country.
Until this time P.T. JSJ has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. JSJ 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. 11.0 billion rose to Rp. 12.2 billion in 2009 increased to Rp. 13.3 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. 0.8 billion and the company has an estimated total networth of at least Rp. 1.5 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. JSJ is led by Mr. Felix Agung Laoda
(47) a businessman and professional manager with experience in trading, import
and distribution of pharmaceutical, food and veterinary raw materials. 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. JANNISIKA SUMBER JAYA is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
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UK Pound |
1 |
Rs.73.42 |
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Euro |
1 |
Rs.66.04 |
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.