%20%20-%20156428%2011-Oct-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
KOPERASI KARYAWAN MITRA USAHA DINAMIKA
(KOMUNIKA) |
|
|
|
|
Registered Office : |
Setiabudi Building 2, 2nd Floor Room 204A, Jalan H.R. Rasuna Said Kav. 62, Kuningan,
Jakarta Selatan, 12940 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
January 2006 |
|
|
|
|
Com. Reg. No.: |
Not Available |
|
|
|
|
Legal Form : |
Cooperatives |
|
|
|
|
Line of Business : |
Trading, Import and Authorized Distribution of HUAWEI Tech Mobile Cellular Phone |
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$ 407,800 |
|
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
KOPERASI KARYAWAN
MITRA USAHA DINAMIKA (KOMUNIKA)
company Address
Head Office
Setiabudi
Building 2, 2nd Floor Room 204A
Jalan H.R. Rasuna Said Kav. 62
Kuningan
Jakarta Selatan, 12940
Indonesia
Phones -
(62-21) 92846622 (Hunting)
Fax - (62-21) 52905872
E-mail - komunika@ko-munika.com
Website - http://www.ko-munika.com
Building Area - 8 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
January 2006
Legal Form
Cooperatives
Company Reg. No.
Not Required
Company Status
Private Cooperatives
Permit by the Government
Department
The Department of
Finance
Not Available
Related Company
A Member Company
of the BAKRIE Group
CAPITAL AND OWNERSHIP
Capital
Structure :
Owned Capital : Rp. 5.0
billion
Shareholders/Owners
:
a. All
Employee P.T. BAKRIE TELECOM Tbk
b. All
Employee P.T. BAKRIE CONNECTIVITY
BUSINESS ACTIVITIES
Lines of
Business :
Trading, Import
and Authorized Distribution of HUAWEI Tech Mobile Cellular Phone
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
November 2007
Brand Name :
Komunika
Technical
Assistance :
None
Number of
Employee :
350 persons
Marketing Area
:
Local - 100%
Main Customer
:
All Member Staff
of P.T. BAKRIE TELECOM Tbk and P.T. BAKRIE CONNECTIVITY
Market
Situation :
Very Competitive
Main
Competitors :
a. Koperasi
Karyawan P.T. BOSAENG JAYA
b. Koperasi
Karyawan P.T. GARUDA INDONESIA
c. Koperasi
Karyawan P.T. MANULIFE INDONESIA
d. Koperasi Karyawan P.T. PENGERUKAN INDONESIA
e. Etc.
Business Trend
:
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk
Plaza Mandiri
Jalan Jend.
Gatot Subroto Kav. 36-38
Jakarta
Selatan, Indonesia
b. P.T. Bank
DANAMON INDONESIA Tbk
Jalan Prof.
DR. Satrio Kav. E-IV/6
Jakarta Timur
Indonesia
c. P.T. Bank CENTRAL ASIA Tbk
Barclays Building
Jalan Jend. Sudirman Kav. 22-23
Jakarta 12190
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2008 – Rp. 25.0
billion
2009 – Rp. 28.0
billion
2010 – Rp. 31.0
billion
Net Profit
(estimated) :
2008 – Rp. 2.2
billion
2009 – Rp. 2.5
billion
2010 – Rp. 2.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
General Chairman
- Mr. Mohammad Farukh
Suleiman
Chairman 1 -
Mrs. Melina Sari
Chairman II -
Mr. Emil Shahab
Secretary -
Mr. Syamsir Mohar Shindrang
Treasury 1 -
Mr. Aditia Irawan
Treasury II -
Mr. Setiawan Parikesit Kencana
Board of Commissioners :
None
Signatories :
General Chairman (Mr.
Mohammad Farukh Suleiman) which must be approved by the partner meeting.
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$ 407,800 on 90
days D/A
OVERALL PERFORMANCE
Koperasi Karyawan Mitra Usaha Dinamika or Employees Cooperative Business Partners Dynamics or what we know as (KOMUNIKA) is a legal entity owned by our joint cooperation, employees of P.T. Bakrie Telecom Tbk, who obtained a deed of ratification of the law in January 2006. Previous cooperative employees we are still under the name P.T. Ratelindo which then had a business license is limited to all business activities and savings and loans that are no longer operating as a company name change.
KOMUNIKA has been in operation since November 2007 in various business activities, with the aim of assisting the all employee of P.T. BAKRIE TELECOM Tbk and P.T. BAKRIE CONNECTIVITY in raising funds for the welfare of all employees.
Beginning with the activities of education and socialization of the vision, mission and work program periodically to its members. Some business activities KOMUNIKA began to receive positive responses such mandatory programs as well as the principal savings and loan programs that can be enjoyed by employees who have registered as a member. Membership cooperatives which in principle are voluntary (optional) as a stimulus for efforts to create a loan program with attractive facilities so that the year was less than 350 employees have signed up for membership. This marks a good start for going-concern KOMUNIKA.
In 2008 KOMUNIKA began spreading its wings by acquiring multiple lines of business such as licensing and permit the Export-Import, single distributor, dealership, General Contractor & Trading, Rental Land & Buildings, Transportation, Outsourcing and others are certainly more complete permit the main Komunika savings and loans, Financial Services, Investment and Financing Services. With consciousness as a relatively new entity, MUSIC have much to learn from other similar cooperatives, then in 2009 KOMUNIKA begin to open ourselves to the external environment, among others, joined the Parent Cooperative Bakrie (INKOPBA) a holding cooperative that houses at least 23 units of Cooperative which are in an environment Bakrie Group, build synergies and strategic alliances with cooperatives of five major telecommunications operators in Indonesia Joint Cooperative Telecommunications Operator (GK-OTI), open access facilities, information, guidance and other institutions through the Cooperative Council of Indonesia (DEKOPIN), Ministry of Cooperatives and SMEs and Small Medium Entreprise institution Company (SMESCO).
The combination of internal and external conditions above are slowly making KOMUNIKA gained the confidence to contribute to the company's business with the importers, distributors and handset sales administration, and wifone Wimode, became manager layananan Call Centre with access code 14090 for Sriwijaya Air ticket reservation, and the CPE Dealer for Cooperatives and SMEs. KOMUNIKA gradually also provide improved services to members through the activities of service business deposits (Principal, mandatory and Taperum), loan and finance employees / members such as the KTA and will soon be introduced KKB service programs, mortgage and KPA, scholarships and ONH for increase the common welfare.
Management and development of business activities require the support and trust KOMUNIKA entire management and all employees / members to become members of the dual benefits of our Community, that is as user where we can obtain financing services that are lighter and more profitable, and as the owner where we are entitled to the benefit of SHU or dividends from the participation of members and business profit KOMUNIKA periodically, can be stronger. In 2010 and future years, may continue to grow KOMUNIKA achieve the vision and mission to provide significant benefits and long-term for the Company, employees and their families.
In the process of achievement necessary leadership skills, entrepreneurship spirit, commitment, hard work and cooperation of stakeholders and shareholders. It is also necessary repairs and improvements on all sides including the transformation of leadership KOMUNIKA by style into by the system and its patterns of regeneration and regeneration, improvement of the system, coordination and organization, improving facilities and supporting prasanara to become an independent entity, professional and transparent. KOMUNIKA provides services in tour and traveling, ticketing, hotel reservation, tour domestic and international, car rental services, etc. Mr. Ari, legal section devision staff of KOMUNIKA explained the company is also import of telecommunication equipment and mobile cellular phone with HUAWEI TECH brand of China. The whole mobile phone sold by parent company P.T. BAKRIE TELECOM Tbk and also through other dealer and shops.
We observe the operation of KOMUNIKA has been growing and developing well in the last three years. Generally observed the demand for telecommunication services, internet services provider, portal services, mobile & online content provider, and other telecommunication services, telecommunication equipment has kept on rising within the last five years. The telecommunication industry in 2009 showed quite rapid growth. The most quick growth has been showing by cellular telephone and internet. Meanwhile, based on communication products grabbled by P.T. TELKOM Tbk in 2009 has also increased. Details on the growth of cable telephone production facility are as shown on the table below:
Growth, Development of
Fixed Telephone and Cellular Telephone
Subscriber 2005-2010
|
Year |
Fixed Telephone |
Cellular Telephone |
|
2005 2006 2007 2008 2009 2010 |
13.0 million 14.0 million 16.2 million 20.0 million 26.0 million 30.0 million |
46.9 million 63.8 million 96.4 million 170.9 million 172.4 million 222.2 million |
Source: Directorate of Post & Telecommunication
Growth, Development of
Broadband
Subscriber 2010 –
2012*
|
Description |
2010 |
2011 |
2012* |
|
Internet Users |
48.7 |
58.7 |
70.0 |
|
HSDPA Users |
5.0 |
11.6 |
24.7 |
|
Users of Fixed Network |
2.7 |
4.2 |
6.0 |
|
Computer Market |
7.4 |
8.4 |
9.5 |
|
Smart Phone |
9.3 |
11.0 |
11.9 |
Source: P.T. TELKOM, and MSN Market Intelligent
*) Prediction
Until this time KOMUNIKA has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of KOMUNIKA 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. 25.0 billion rose to Rp. 28.0 billion in 2009
increased to Rp. 31.0 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. 2.8 billion and the company has an estimated total networth of at least Rp.
2.0 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 KOMUNIKA is led by Mr. Mohammad Farukh Suleiman (50) a
professional manager with experienced in trading, import and authorized
distribution of Huawei Tech Mobile Cellular Phone, cooperative and other
business. 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. KOPERASI KARYAWAN MITRA USAHA DINAMIKA or abbreviated KOMUNIKA is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
UK Pound |
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.17 |
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.