MIRA INFORM REPORT

 

 

Report Date :           

30.09.2011

 

 

 

Tel. No.:

022 86060922

Fax No.:

022 70881100

 

IDENTIFICATION DETAILS

 

Name :

P.T. KAUSA GLOBAL

 

 

Registered Office :

Ruko Hypersquare Blok C No. 56, Jl. HOS Tjokroaminoto No. 25-27, Pasirkaliki, Bandung 10181, West Java

 

 

Country :

Indonesia

 

 

Date of Incorporation :

30.05.2008

 

 

Com. Reg. No.:

No. AHU-53917.AH.01.01.Tahun 2008

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading and Distribution of Secondhand Textile Machinery and Sewing Yarn

 

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$ 55,500

Status :

Moderate

Payment Behaviour :

Unknown

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

 

P.T. KAUSA GLOBAL

 

 

company Address

 

Head Office

Ruko Hypersquare Blok C No. 56

Jl. HOS Tjokroaminoto No. 25-27

Pasirkaliki, Bandung 10181

West Java

Indonesia

Phone               - (62-22) 86060922

Fax                   - (62-22) 70881100

Building Area     - 2 storey

Office Space      - 80 sq. meters

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation

 

30 May 2008

 

 

Legal Form

 

P.T. (Perseroan Terbatas) or Limited Liability Company

 

 

Company Reg. No.

 

The Ministry of Law and Human Rights

No. AHU-53917.AH.01.01.Tahun 2008

Dated 22 August 2008

 

 

Company Status

 

National Private Company

 

Permit by the Government Department

 

The Department of Finance

NPWP No. 02.749.568.8-422.000

 

 

Affiliated/Associated Companies

 

a. PT. DASA MITRA PRATAMA (Trading and Distribution of Textile Machineries)

b. CV. DWI GLOBAL PERSADA (Trading and Distribution of Textile Machineries)

c. Etc.

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                - Rp. 500,000,000.-

Issued Capital                      - Rp. 300,000,000.-

Paid up Capital                    - Rp. 300,000,000.-

 

Shareholders/Owners :

a. Mr. Gabrielle Hiyokunaru          - Rp. 150,000,000.- (50.0%)

    Address : Komplek Setra Asri Kav. 55

                    Kel. Pasirkaliki, Bandung

                    West Java

                    Indonesia

b. Mr. Dede Edward Widjaja          - Rp. 142,500,000.- (47.5%)

    Address : Jl. Plamboyan B10 No. 11

                    Kel. Margahayu, Bandung

                    West Java

                    Indonesia

c. Mr. Teddy Wahjono                   - Rp.     7,500,000.- (  2.5%)

    Address : Gang Kasim No. 12,

                    Kel. Karanganyar, Bandung

                    West Java

                    Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading and Distribution of Secondhand Textile Machinery and Sewing Yarn

 

Production Capacity :

None

Total Investment :

None

 

Started Operation :

2008

 

Brand Name :

KAUSA GLOBAL

 

Technical Assistance :

None

 

Number of Employee :

3 persons                                       

 

Marketing Area :

Local                                                   - 100%

 

Main Customers :

a. Textile Industries

b. Spinning Mills Industries

 

Market Situation :

Very Competitive

 

Main Competitors :                         

a. CV. Hentraco

b. PT. Jaya Metal Teknika

c. PT. Kencana Tekindo

d. PT. Total Sarana Graha

e. PT. General Teknik

f.  PT. Orient Tekni, etc.

 

Business Trend :

Declining

 

 

BANKER, AUDITOR & LITIGATION

 

Bankers :

P.T. Bank CENTRAL ASIA Tbk

Bandung Branch

Jl. Asia Afrika No. 122-124

Bandung, West Java

Indonesia

 

Auditor :

Internal Auditor

           

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2008 – Rp. 2.3 billion

2009 – Rp. 4.5 billion

2010 – Rp. 4.0 billion

2011 – Rp. 1.9 billion (January – June)

 

Net Profit (estimated) :

2008 – Rp. 122 million

2009 – Rp. 238 million

2010 – Rp. 210 million

2011 – Rp. 102 million (January – June)

 

Payment Manner :

No Comment

 

Financial Comments :

Unhealthy

 

 

KEY EXECUTIVES

 

Board of Management :

President Director                            - Mr. Gabrielle Hiyokunaru

Director                                           - Mr. Dede Edward Widjaja

                                                                       

Board of Commissioners :

Commissioner                                 - Mr. Teddy Wahjono

 

Signatories :

President Director (Mr. Gabrielle Hiyokunaru) or Director (Mr. Dede Edward Widjaja) which must be approved by Board of Commissioner (Mr. Teddy Wahjono)

 

 

CAPABILITIES

 

Management Capability :

Fairly

 

Business Morality :

Prudent

 

Credit Risk :

Above average

 

Credit Recommendation :

Credit should be extended under guarantee

 

Proposed Credit Limit :    

C.O.D. To small amount

 

Maximum Credit Limit :

US$ 55,500 on 90 days D/A

 

 

OVERALL PERFORMANCE

 

P.T. KAUSA GLOBAL (P.T. KG) was established on May 30, 2008 with an authorized capital of Rp 500,000,000.- of which Rp. 300,000,000.- was issued and fully paid up.  The founding shareholders of the company are Mr. Gabrielle Hiyokunaru (50%), Mr. Dede Edward widjaja (47.5%) and Mr. Teddy Wahjono (2.5%). They are Indonesian businessmen of Chinese extraction. The Articles of Association was made by Ms. Kristi Andana ylianes, SH., a public notary in Bandung (West Java) and it was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-53917.AH.01.01.Tahun 2008 dated August 22, 2008.  No changes have been effected in term of its shareholding composition and capital structures to date.

 

Pursuant to the company’s notary deed, P.T. KG engaged to operate in trading, industry and services. The Company’s registered office located at Bandung (West Java) and the company can open branch offices or representative offices at home and abroad.  We observed that the company’s office was based at Ruko Hypersquare Blok C No. 56, Jl. HOS Tjokroaminoto No. 25-27, Bandung, West Java.  P.T. KG was engaged in trading and sales of secondhand textile machinery and sewing yarn, which had been operating since 2008.  The above textile machineries are imported from China and Taiwan.  Then, P.T. KG sells the products to textile and spinning mills industries in Bandung, West Java and its surrounding.  We observe that P.T. KG is classified as a small sized company of its kind in the country of which the operation has been declining in the last two years.

 

Generally, demand for textile machinery and textile products, including; grey fabrics, finished fabrics, yarn, garment and textile chemicals has been fluctuating in the last five years.  According to the Central Bureau of Statistics (BPS) the Indonesian garments export in 2006 amounted to 399,600 tons (US$ 5,608.1 million) to 399,800 tons (US$ 5,712.9 million) in 2007 to 417,600 tons (US$ 6,092.2 million) in 2008 declined to 393,400 tons (US$ 5,735.6 million) in 2009 and rose again to 445,200 tons (US$ 6,598.0 million) in 2010.  The Indonesia textile products export in 2006 amounted to 1,477,800 tons (US$ 3,908.6 million) declined to 1,473,600 tons (US$ 4,178.0 million) in 2007 declined again to 1,312,200 tons (US$ 4,127.9 million) in 2008 to 1,369,600 tons (US$ 3,602.8 million) in 2009 and rose again to 1,525,900 tons (US$ 4,721.8 million) in 2010.   The export volume and value of the national TPT products in 2002 to 2010 are pictured on the following table.

     

      Year

Garment

Textile Products

(Thousand Ton)

(US$ Million)

(Thousand Ton)

(US$ Million)

2002

2003

2004

2005

2006

2007

2008

2009

2010

333.1

339.9

327.3

369.5

399.6

399.8

417.6

393.4

445.2

3,887.2

4,037.9

4,351.9

4,967.0

5,608.1

5,712.9

6,092.2

5,735.6

6,598.0

1,425.9

1,307.5

1,300.4

1,427.3

1,477.8

1,473.6

1,312.2

1,369.6

1,525.9

3,075.9

3,064.6

3,354.6

3,704.0

3,908.6

4,178.0

4,127.9

3,602.8

4,721.8

Source: Central Bureau of Statistic

 

The company is neither public listed nor bond issued company. Therefore, the company has no obligation to publish financial statement publicly. We have checked to Department of Trade and Industry and found that no financial statement has been reported. P.T. KG’s management is very reclusive to outsider and rejecting to disclose its financial condition but we estimated the total sales turnover in 2008 amounted to Rp. 2.3 billion increased to Rp. 4.5 billion in 2009, declined to Rp. 4.0 billion in 2010 and estimated it will be decliner by at least 8% in 2011.   The operation in 2010 yielded a net profit at least Rp. 210 million and the company has total assets of Rp. 300 million. So far, we have never heard of the company having been black listed by the Central Bank (Bank Indonesia).

 

The management of the company is led by Mr. Gabrielle Hiyokunaru (36) a young businessman who experienced for 5 years in trading and supplier of textile machinery.  In daily activities, he is assisted by Mr. Dede Edward Widjaja (38) as director. The company’s management is having wide relation with private businessmen of home and overseas as well as with the 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.

 

Considering the company’s operation is declining in the last two years and unstable economic condition in the country, we recommend to treat extra prudently in extending any new loans to P.T. KAUSA GLOBAL.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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.