|
Report Date : |
14.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
PD. SHANKAR PM |
|
|
|
|
Registered Office : |
Pusat Grosir
Tekstil Mangga Dua Block E 4 No. 20 Jalan Arteri Mangga Dua |
|
|
|
|
Country : |
|
|
|
|
|
Year of Establishment : |
1995’s |
|
|
|
|
Legal Form : |
Sole Proprietary Company |
|
|
|
|
Line of Business : |
Trading, Import and Distribution of Textile Products |
|
|
|
|
No. of Employees : |
18 persons |
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$ 190,700 |
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PD. SHANKAR
PM
Head Office
Pusat Grosir Tekstil Mangga Dua Block E 4 No. 20
Jalan Arteri Mangga Dua
Jakarta Utara, 14430
Indonesia
Phones -
(62-21) 6011786, 6120341, 6009932
Fax - (62-21) 6009930
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
1995’s
Legal Form :
Sole Proprietary
Company
Company Reg.
No. :
Not Required
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
Capital
Structure :
Owned Capital : Rp. 1.0 billion
Owners :
Mr. Shankar Mulani
Lines of
Business :
Trading, Import
and Distribution of Textile Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1995’s
Brand Name :
Shankar PM
Technical
Assistance :
None
Number of
Employee :
18 persons
Marketing Area
:
Local - 100%
Main Customer
:
Trader and Retail
Shop, Individual and Tailor
Market
Situation :
Very Competitive
Main
Competitors :
a. CV. ADE BUSANA
COLLECTION
b. DULLAH TEXTILE
c. DULLAH TEXTILE
d. EVERY
DECORATION, Etc
Business Trend
:
Growing
B a n k
e r s :
a. P.T. Bank
CENTRAL ASIA Tbk
Mangga
Dua Plaza Block 12 A
Jalan Raya
Mangga Dua
Jakarta Utara
Indonesia
b. P.T. Bank
MANDIRI Tbk
Arkade Dusit
Mangga Dua Bo. 5
Jalan Arteri Mangga Dua
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 12.7 billion
2010 – Rp. 13.6 billion
2011 – Rp. 14.5 billion
Net Profit
(estimated) :
2009 – Rp. 1.1 billion
2010 – Rp. 1.3 billion
2011 – Rp. 1.5 billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Shankar
Mulani
Board of Commissioners :
None
Signatories :
Director (Mr. Shankar Mulani) is only the
authorized person to sign the loan on behalf of the company.
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$ 190,700 on 90
days D/A
PD. SHANKAR PM
is a sole proprietary company which established in Jakarta in 1995’s by Mr. Shankar Mulani an Indonesia businesswoman
of Indian descent. The company’s authorized capital is not announced in it’s of
establishment. In general, the company with status of sole proprietary company
shall increase its capital continuously together with its business development.
We estimated that MR TEXTILE (AL MAYA) has capital about Rp.
1.0 billion.
PD. SHANKAR PM
started to be operating since 1995’s to deal with trading, import and
distribution of textile products. According information the company sells of
various textile products for woman, lady’s and man’s with various types among
others are machine embroidery fabrics, embroider fabrics, special jacquard
fabrics, gicha jacquard fabric, damask jacquard
fabric, plain dyed fabric, shirting fabric, organic pigment cotton fabric, silk
cotton fabric, polyester cotton fabric, cotton poly blend shirting fabric,
cotton yarn poly fabric, poly cotton fabric, linen fabric, fine plain dyed
fabric and others. The whole products imports through MAHATEX EXPORTS of India.
Mr. Shankar Mulani,
Director and owner of the company went on to say some of the textile products
mostly import from India and the rest for locals. The whole products sold
through trader and textile shop, tailor made, and others in Jakarta and
surroundings. We observe that PD. SHANKAR PM is a small size company of its
kinds which its operation has been growing and developing well in the last
three years.
Generally, the
demand for polyester cotton & rayon yarns, polyester staple fiber and
others tended to be fluctuating within the last five years in line with the
fluctuating of Indonesian textile industry in general. There are eleven
domestic dyestuff producers which are still active with a combined production
capacity of 45,620 tons per annum. The country’s garment industry is facing serious
marketing problem not only in the country but also abroad. According to the
Central Bureau of Statistics (BPS) the Indonesian garments export in 2002
amounted to 333,100 tons (US$ 3,887.2 million) to 339,000 tons (US$ 4,037.9
million) in 2003 to 327.300 tons (US$ 4,351.9 million) in 2004 to 369.500 tons
(US$ 4,967.0 million) in 2005 to 399,600 tons (US$ 5,608.1 million) in 2006, to
399,800 tons (US$ 5,712.9 million) in 2007 rose to 417,600 tons (US$ 6,092.2
million) in 2008 declined to 393.400 tons (US$ 5,735.6 million) in 2009 and
445,200 tons (US$ 6,598.0 million) in 2010. The Indonesia textile products
export in 2002 amounted to 1,425.9 tons (US$ 3,075.9 million) to 1,307.5 tons
(US$ 3,064.6 million) in 2003 to 1,300.4 tons (US$ 3,354.6 million) in 2004 to
1,427.3 tons (US$ 3,704.0 million) in 2005 to 1,477.8 tons (US$ 3,908.6
million) in 2006 to 1,473.6 tons (US$ 4,178.0 million) in 2007 decrease to
1,312.2 tons (US$ 4,127.9 million) in 2008 rose to 1,369.6 tons (US$ 3,602.8
million) in 2009 and to 1,525.9 tons (US$ 4,721.8 million) in 2010.
The domestic
textile producers are pessimism the textile export in 2009 could match the
export numbers in 2008. The blow of the global economic crisis is resulted in
the reduced of demand from the export destination countries like the United
States (U.S.), Japan, and European Union region. The Export Textiles and the
Textile Products (TPT) in 2009 is predicted to fall to 10.2 percent compared to
the last year. In the year 2008 the export value reached 10.8 billion US
dollars. While this year’s the exports expected fall into US$ 9.7 billion. The
Chairman of the Indonesian Textile Association (API), Mr. Benny Soetrisno said that the decline in global purchasing power
caused of the demand in the Indonesian textile products could not be able to
grow as tight as 2008. 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
Until this time
PD. SHANKAR PM has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of the
company is very reclusive towards outsiders and rejected to disclose its
financial condition. We observed that total sales turnover of the company in
2009 amounted to Rp. 12.7 billion rose to Rp. 13.6 billion in 2010 increased to Rp.
14.5 billion in 2011 and projected to go on rising by at least 4% in 2012. The
operation in 2011 yielded an estimated net profit of at least Rp. 1.5 million and the company has an estimated total net
worth of at least Rp. 3.0 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 PD. SHANKAR PM is led by Mr. Shankar Mulani (52) a businessman with experience in trading,
import and distribution of textile products. 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. We are sure PD. SHANKAR PM is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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.