MIRA INFORM REPORT
|
Report Date : |
26.05.2011 |
|
|
|
|
Tel. No.: |
62-31 750 9350 |
|
Fax No.: |
92 31 750 9350 |
IDENTIFICATION DETAILS
|
Name : |
C.V. AGRO NUSA PERMAI |
|
|
|
|
Registered Office : |
Jalan Raya
Driyorejo 180, Kecamatan Driyorejo, Kabupaten Gresik, East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
March 2008 |
|
|
|
|
Legal Form : |
partnership with Sleeping Partners |
|
|
|
|
Line of Business : |
Trading, Import
and Distribution of Ground Nuts and Onion and Fresh Fruits |
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$ 98,600 |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
C.V. AGRO NUSA PERMAI
Company Address
Head Office
Jalan Raya
Driyorejo 180
Kecamatan
Driyorejo, Kabupaten Gresik
East Java
Indonesia
Phone -
(62-31) 750 9350
Fax - (62-31) 750 9350
E-mail - agronusa_permai@yahoo.com
Building Area - 1 storey
Office Space - 120 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation
March 2008
Legal Form
C.V.
(Commanditaire Vennootschap) or partnership with sleeping partners
Company Reg. No.
Not Required
Company Status
Private National
Company
Permit by the Government
Department
Not Available
Related Company
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Owned Capital : Rp. 300
million
Owners :
a. Mr. Wibowo
Dipokusumo (Active Partner)
b. Mrs. Kusumo
(Silent Partner)
BUSINESS ACTIVITIES
Lines of
Business :
Trading, Import
and Distribution of Ground Nuts and Onion and Fresh Fruits
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
April 2008
Brand Name :
Agro Nusa Permai
Technical
Assistance :
None
Number of
Employee :
28 persons
Marketing Area
:
Local - 100%
Main Customer
:
Traditional
Market
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ASIA
AGROMAS ABADI
b. C.V. BUMI
DJAJA
c. C.V. PUTRA
NUSA
d. P.T.
TUNASUTAMA SARIPERKASA
e. Etc.
Business Trend
:
Growing
BANKER, AUDITOR & LITIGATION
Banker :
P.T. Bank BUKOPIN
Tbk
Gresik Main
Branch
East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2008 – Rp. 6.0
billion
2009 – Rp. 6.7
billion
2010 – Rp. 7.5
billion
Net Profit
(estimated) :
2008 – Rp. 300
million
2009 – Rp. 340
million
2010 – Rp. 375
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Wibowo Dipokusumo
Board of Commissioners :
N o n e
Signatories :
Director (Mr. Wibowo
Dipokusumo) is only the authorized person to sign the loan on behalf of the
company.
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$ 98,600 on 90
days D/A
OVERALL PERFORMANCE
C.V. AGRO NUSA PERMAI (C.V. ANP) was established in March 2008 in
Gresik, East Java with the legal status of C.V. (Commanditaire Vennootschap) or
Partnership with Sleeping Partner. The founding owners of the company are Mr.
Wibowo Dipokusumo as active partner and his wife Mrs. Dipokusumo as silent
partner. Both are indigenous business family. As in common in cases of
companies with C.V. status, there is no mention in the company’s notarial act
of its capital structure. But going by the company’s conditions, we estimate
its capital at some Rp. 300 million.
C.V. ANP has been operating since April 2008 dealing with trading,
import and distribution of agricultural commodities. Mr. Wibowo Dipokusumo,
Director and owner of the company went on to say the company import of ground
nuts and garlic of India; red onion and fresh fruits from China. Then, the whole
product like garlic, red onion and ground nut marketed locally through
traditional market in Gresik, Sidoarjo, Surabaya and East Java. Besides, the
company supplies the above products like fresh fruit to several fruit stores,
grocery fruits, supermarkets, hotel and restaurant in Gresik, Surabaya and
surroundings. We find that C.V. ANP's operations have been growing slowly in
the last three years. The global economic crisis and very sharp depreciation of
the Rupiah to foreign currencies have adversely affected the company's
operations for having caused the sales prices of the fruit and agro commodities
product the company is selling, which have mostly been imported, to be very
highly priced. Meanwhile, the domestic demand has sharply fallen. The operation
of C.V. ANP has gradually been increasing since the early 2009 due to the
amelioration economic condition in the country.
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. Besides, that generally the domestic demand for fruit has been rising by about 6% - 8% per year in the last five years in line with the growing population and increasing income of part of the population in the country. The demand is projected to go on rising each year in the next five years. Meanwhile, competition is quite heavy in the fruit trade with many companies now doing business in this field in Indonesia. We consider C.V. ANP to be in a quite favorable position for having already got hold of a steady clientele in East Java.
Until this time C.V. ANP has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of C.V. ANP 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. 6.0 billion rose to Rp. 6.7 billion in 2009 increased to Rp. 7.5 billion in 2010 and projected to go on rising by at least 5% in 2011. The operation in 2010 yielded an estimated net profit of at least Rp. 375. 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 C.V. ANP is led by Mr. Wibowo Dipokusumo (45) a businessman and professional manager with experience in trading, import and distribution of agriculture commodities products. The management is handled by experienced staff in this business, having maintained a wide business relation with private businessmen at home and abroad as well as with government sectors. 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. C.V. AGRO NUSA PERMAI is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
UK Pound |
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.