MIRA INFORM REPORT
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Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. YOSITA JAYA MURNI |
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Registered Office : |
Jalan Kramat
Jaya Blok A/22E, Kel. Tugu
Utara, Kec. Koja,N Jakarta Utara 14260 |
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Country : |
Indonesia |
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Date of Incorporation : |
30.06.2008 |
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Com. Reg. No.: |
No. AHU-48713.AH.01.01.Tahun 2008 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
General Trading and Import-Export Services |
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No. of Employees
: |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 170,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Indonesia |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name of Company
P.T. YOSITA JAYA MURNI
company Address
Head Office
Jalan Kramat Jaya Blok A/22E
Kel. Tugu Utara, Kec. Koja
Jakarta Utara 14260
Indonesia
Phones -
(62-21) 4391 2565.
Fax - (62-21) 4391 2566
Building Area - 2 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation
30 June 2008
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No.
AHU-48713.AH.01.01.Tahun 2008
Dated 07 August
2008
Company Status
National Private
Company
Permit by the Government
Department
The Department of
Finance
NPWP No.
02.696.691.1-045.000
Affiliated/Associated Company
Not available
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital - Rp.
400,000,000.-
Issued Capital - Rp.
400,000,000.-
Paid up Capital - Rp.
400,000,000.-
Shareholders/Owners
:
a. Mr.
Masudin -
Rp. 200,000,000.- (50%)
Address: Jl. Kampung Malaka II, RT.003, RW.005
Kel. Rorotan, Kec.
Cilincing
Jakarta Utara
b. Mr. Asmun Wijaya -
Rp. 200,000,000.- (50%)
Address: Jl. Malaka Dua, RT.011, RW.003
Kel. Cilincing, Kec.
Cilincing
Jakarta Utara
BUSINESS ACTIVITIES
Lines of
Business :
General Trading and Import-Export Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
August 2008
Brand Name :
YOSITA JAYA MURNI
Technical
Assistance :
None
Number of
Employee :
5 persons
Marketing Area
:
Local -
100%
Main Customers
:
a. Offset
Printing Industry
b. Mechanical and
Electrical Shops
c. Automotive Part
Traders and Dealers
d. Etc.
Market Situation :
Very Competitive
Main
Competitors :
a. PT. Yakin Maju
Sentosa
b. PT. Bahtera Rejeki Sejati
c. PT. Indomas Ekaputra
d. PT. Altama Surya Arsa
e. PT. Indah Jaya Teknik
f. PT. Indah jaya
Teknik
g. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Banker :
P.T. Bank CENTRAL ASIA Tbk
Kramat Jaya Branch
Jl. Kramata Jaya Blok F1/10
Jakarta Utara 14260
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Total Sales/Revenue (estimated) :
2009 – Rp.
9.8 billion
2010 – Rp. 11.0 billion
2011 – Rp. 12.6 billion
Net Profit
(estimated) :
2009 – Rp. 490 million
2010 – Rp. 550 million
2011 – Rp. 630 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Masudin
Board of Commissioner :
Commissioner - Mr. Asmun Wijaya
Signatories :
The Directors (Mr. Masudin) which must
be approved by Board of Commissioner (Mr. Asmun Wijaya)
CAPABILITIES
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
Maximum Credit Limit :
US$ 170,000 on 90 days D/A
OVERALL PERFORMANCE
P.T. YOSITA JAYA MURNI (P.T. YJM) was established in Jakarta on June 30, 2008 with the authorized capital of Rp. 400,000,000.- entirely was issued and fully paid up. The founding shareholders of the company are Mr. Masudin (50%) and Mr. Asmun Wijaya (50%), both are indigenous businessmen. The Company’s Articles of Association was made by Ms. Inggrid Lannywati, SH., a public notary in Jakarta based on notary deed No. 215 and it was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-48713.AH.01.01.Tahun 2008 dated August 7, 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. YJM engaged to operate in general trading, development, industry, mining, road transportation, agricultural, printing, workshop and services. The Company’s registered office located at Ruko Kramat Jaya Blok A No.22E, Tugu Utara Sub-district, Koja District, North Jakarta.
P.T. YJM started operation on August 2008 in trading, import-export and supplier of printing machinery, mechanical and electrical equipment, office and school equipments, automotive components and parts, agriculture products, fuels and lubricants, pharmaceutical products, textile and garment products, and others. Beside, the company also engaged in importing services. P.T. YJM sells the above products directly to end users. Besides that, the above products are also sold to the government and other private sectors including contractors, oil companies, automotive industry, etc. We observed that P.T. YJM is classified as a small sized company of its kind in the country of which the operation has been growing slowly in the last three years.
Generally, the demand for printing machinery, mechanical and electrical equipment, office equipments, automotive parts and components in the country had significantly rising by 8% to 10% per year in the last five years, in line with the growth of offset printing industries, electronic industries, office building development, automotive industries and others. But, as from October 2008, the demand growth for flexible packaging and printing has kept on dwindling as an impact of global economic crisis as told above. Beside, the competition is very tight on account many similar companies operating in the country. P.T. YJM's business position is still quite good for it has experience enough in the above business.
Until this time P.T. YJM has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. We observed that total sales turnover of the company in 2009 amounted to Rp. 9.8 billion increased to Rp. 11.0 billion in 201o rose again to Rp. 12.6 billion in 2011 and projected it will be increase by at least 6% in 2012. The operation in 2011 yielded an estimated net profit of Rp. 630 million and the company has an estimated total networth of at least Rp. 800 million. So far, we did not heard that the company having been black listed by the Central Bank (Bank Indonesia).
P.T. YJM's management headed by Mr. Masudin (36) as director, a young businessman with more than 5 years experience in general trading and importing services. In daily activities, he is assisted by Mr. Asmun Wijaya (43) as commissioner. The management is evaluated quite creative and dynamic. The management is quite capable of further developing business in the future. They have close relations with many high-ranking government officials as well as with private businessmen within and outside the country. So far, we did not hear that the company’s management involved in a dirty business practice or detrimental cases that settled in the country. The company’s litigation record is clean and it has not registered with the black list of Bank of Indonesia.
Since this company (PT. YJM) just about three years in operation commercially, so we recommend caution when going to provide fresh loans to them. Or it should obtain sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
UK Pound |
1 |
Rs.77.47 |
|
Euro |
1 |
Rs.64.39 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.