MIRA INFORM REPORT

 

 

Report Date :           

31.10.2011

 

IDENTIFICATION DETAILS

 

Name :

UD. GUNUNG BERLIAN

 

 

Registered Office :

Jalan Ngalik 58 Tambaksari, Surabaya, 60136, East Java

 

 

Country :

Indonesia

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trading, Export Import and Distribution of Dried and Raw Material of Herbs (Turmeric) and Spices

 

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$ 68,400

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 Concern

 

UD. GUNUNG BERLIAN

 

 

concern Address

 

Head Office & Workshop

Jalan Ngalik 58 Tambaksari

Surabaya, 60136

East Java

Indonesia

Phone               - (62-31) 5030065

Fax                   - (62-31) 5030348

Flexi                 - 70282789

Mobile Phone    - 081 330205995 (Mr. Petrus Sariowan)

Land Area         - 500 sq. meters

Building Area     - 400 sq. meters

Region              - Industrial Zone

Status               - Owned

 

 

Date of Incorporation

 

1990

 

 

Legal Form

 

Sole Proprietary Concern

 

 

Concern Reg. No.

 

Not Required

 

 

Concern Status

 

National Private Concern

           

Permit by the Government Department

 

Not Available

 

 

Related Concern

 

None

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                            : Rp. 400 million

 

Owners :

a. Mr. Petrus Sariowan

b. Mrs. Vonny Sariowan

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading, Export Import and Distribution of Dried and Raw Material of Herbs (Turmeric) and Spices

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

1990

 

Brand Name :

None

 

Technical Assistance :

None

 

Number of Employee :

10 persons                                     

 

Marketing Area :

Local    - 100%

Main Customer :

Local traditional market

 

Market Situation :

Very Competitive

 

Main Competitors :

a. UD. ANUGERAH AGUNG

b. UD. CIPTA SENTOSA

c. P.T. NEKA BOGA PERISA

d. P.T. SUPA SURYA NIAGA

e. Etc.

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

Bankers :

a.   P.T. Bank INTERNATIONAL INDONESIA Tbk

      Jalan Pemuda

      Surabaya, East Java

      Indonesia

b.   P.T. Bank CIMB NIAGA Tbk

      Jalan Kapas Kampung

      Surabaya, East Java

      Indonesia

c.   P.T. Bank PANIN Tbk

      Surabaya Main Branch

      East Java

      Indonesia

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2008 – Rp. 4.5 billion

2009 – Rp. 4.8 billion

2010 – Rp. 5.2 billion

 

Net Profit (estimated) :

2008 – Rp. 315 million

2009 – Rp. 384 million

2010 – Rp. 431 million

           

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                           - Mr. Petrus Sariowan

Vice Director                                   - Mrs. Vonny Sariowan

 

Board of Commissioners :

None

                                                                                                           

Signatories :

Director (Mr. Petrus Sariowan) is only the authorized person to sign the loan on behalf of the concern.

 

 

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$ 68,400 on 90 days D/A

 

 

OVERALL PERFOMANCE

 

UD. GUNUNG BERLIAN (UD. GB) was established in 1990 in Surabaya, East Java with the status of Sole Proprietary Concern. Founders and owners of the concern is Mr. Petrus Sariowan and his wife Mrs. Vonny Sariowan, an Indonesian businessman of Manado descent. Being as Sole Proprietary Concern, the amount of its authorized capital was not mentioned at the time of its establishment. We estimate, UD. GB has own capital of about Rp. 400 million and it will be rising in line with the progress of its business operation.

UD. GUNUNG BERLIAN had been operating in 1990 in trading, export import and distribution of dried and raw material of herbs (turmeric) and spices (red onion). The other products such as parkia rox burghii, masoia bark, chin chona bark, usnea barbatta, anise, licorice root long stick, cola nut, fannel, dried slice ginger, valerian root walinchii, cumin seeds etc. The whole products collected from various farmers and trader in East Java and the supplied to herb industries in the country and the rest exported to China. Mr. Petrus Sariowan, Director and owner of the concern went on to say that the concern exported of turmeric to Germany. Meanwhile the concern also imported of red onion from Philippine. He also added, previously UD. GB is also imported various spices such as dried eucalyptus alba, beans, fruits, herbs, etc., from China and India, but now the concern is also import of red onion from Philippine. To support of its operation, the concern operates workshop located at Jalan Ngalik 58 Tambaksari, Surabaya, East Java on a land of 500 sq. meters.

 

Further, Mr. Petrus Sariowan, the director of the concern explained that the whole products like red onion marketed locally through traditional market in East Java and surroundings. It seems to us UD. GUNUNG BERLIAN is still belongs to a small concern but its operation growing slowly in the last three years.

 

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. Meanwhile, competition is quite heavy in the export import of agricultural products with many companies now doing business in this field in Indonesia. We consider UD. GB to be in a quite favorable position for having already got holds of a steady clientele in the East Java.

 

Until this time UD. GB has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of UD. GB is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the concern in 2008 amounted to Rp. 4.5 billion rose to Rp. 4.8 billion in 2009 increased to Rp. 5.2 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. 431 million and the concern has an estimated total networth of at least Rp. 0.6 billion. So far, we did not heard that the concern having been black listed by the Central Bank (Bank Indonesia). Mr. Petrus Sariowan, the director of the concern disclosed that the concern usually pays its debts punctually to suppliers.  

 

The concern is headed by Mr. Petrus Sariowan (55), a businessman who experienced for more than 8 years in the field of dried and raw material of herb and spices. Daily activity he is also assisted by his wife Mrs. Vonny Sariowan as Vice Dicector. The concern has had wide relation in the realm of the private businessmen inside and outside the country. Their relation with the government is fairly good. So far, we did not hear that the management of the concern being filed to the district court for detrimental cases or involved in any business malpractices. The concern’s litigation record is clean and it has not registered with the black list of Bank of Indonesia. UD. GUNUNG BERLIAN is sufficiently fairly good for business transaction.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.29

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.