MIRA INFORM REPORT

 

 

Report Date :           

29.02.2012

 

IDENTIFICATION DETAILS

 

Name :

P.T. NIAGA MAKMUR SEJATI

 

 

Registered Office :

Jl. Gatot Subroto Km. 2, Ruko Harmoni Mas Blok C No. 31, Cimone, Tangerang 15114, Banten Province

 

 

Country :

Indonesia

 

 

Date of Incorporation :

17.11.2008

 

 

Com. Reg. No.:

No. AHU-01766.AH.01.01.Tahun 2009

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading and Distribution of Palm Fatty Acid Distillate, Palm Acid Oil and Chemical Products

 

 

No. of Employees :

02

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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 Company

 

P.T. NIAGA MAKMUR SEJATI

 

 

company Address

 

Head Office

Jl. Gatot Subroto Km. 2,

Ruko Harmoni Mas Blok C No. 31,

Cimone, Tangerang 15114

Banten Province

Indonesia

Phone               - (62-21) 5576 7226

Fax                   - (62-21) 5576 7228

Email                - info@nuansakimia.com

Website            - http://nuansakimia.com

Building Area     - 2 storey

Office Space      - 120 sq. meters

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation

 

17 November 2008

 

 

Legal Form

 

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

 

 

Company Reg. No.

 

The Ministry of Law and Human Rights

No. AHU-01766.AH.01.01.Tahun 2009

Dated 09 January 2009

 

 

Company Status

 

National Private Company

 

Permit by the Government Department

 

The Department of Finance

NPWP No. – not available

 

 

Related Company

 

Not available

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital       - Rp.  550,000,000.-

Issued Capital             - Rp.  550,000,000.-

Paid up Capital           - Rp.  550,000,000.-

 

Shareholders/Owners :

a. Mr. Susanto                               - Rp. 495,000,000.- (90%)

    Address : Jl. Prof. Dr. Latumenten

                     RT.005/RW.006, Tambora

                     Jakarta Barat

b. Mr. Lie Kia Seng                        - Rp.   55,000,000.- (10%)

    Address : Komplek Taman Nyiur Blok S/2,

                     RT.003/RW.015, Tanjung Priok

                     Jakarta Utara

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading and Distribution of Palm Fatty Acid Distillate, Palm Acid Oil and Chemical Products

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

October 2010

 

Brand Name :

NIAGA MAKMUR SEJATI

Technical Assistance :

None

 

Number of Employee :

2 persons

 

Marketing Area :

No Comment

 

Main Customers :

No Comment


Market Situation :

Very Competitive

 

Business Trend :

No Comment

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

Not available

 

Auditor :

No Comment

 

Litigation :

No litigation record in our database

 

FINANCIAL FIGURE

 

Annual Sales/Income:

2010 – None

 

Net Profit (Loss) :

2010 – None

 

Payment Manner :

No Comment

 

Financial Comments :

No Comment

 

KEY EXECUTIVES

 

Board of Management :

Director                                           - Mr. Susanto

 

Board of Commissioners :

Commissioner                                 - Mr. Lie Kia Seng

 

Signatories :

Director (Mr. Susanto) which must be approved by Board of Commissioner (Mr. Lie Kia Seng)

 

 

CAPABILITIES

 

Management Capability :

No Comment

 

Business Morality :

No Comment

 

Credit Risk :

Above average

 

Credit Recommendation :

Credit should be extended under guarantee

 

Proposed Credit Limit :

C.O.D. To small amount

 

Maximum Credit Limit :

No Comment

 

 

OVERALL PERFORMANCE

           

P.T. NIAGA MAKMUR SEJATI (P.T. NMS) was established in Tangerang (Banten) on November 17, 2008 with an authorized capital of Rp. 550,000,000,000.- entirely was issued and fully paid up.  The founding shareholders are Mr. Susanto (90%) and his father Mr. Lie Kia Seng (10%), both are Indonesian businessmen of Chinese extraction. The Articles of Association was made by Ms. Nurmiati, SH., a public notary in Tangerang based on notary deed No. 47 and it was approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decision Letter No. AHU-01766.AH.01.01.Tahun 2009 dated January 9, 2009.  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. IAM engaged to operate in trading, export-import, distribution, transportation, plantation, agricultural, industry and services. The Company’s registered office located at Jl. Gatot Subroto Km. 2, Ruko Harmoni Mas Blok C No. 31, Cimone, Tangerang, Banten – Indonesia.

 

Further we obtained information from the internet that the business activities of P.T. NMS was engaged in trading and distribution of palm fatty acid distillate, palm acid oil and chemical products Mr. Kovan, an administrative staff of the company when contacted by telephone said that P.T. NMS was a new company that would be engaged in trading and supplier of agricultural products, but recently now they had yet got a business transaction.  In addition P.T. NMS also planned activities in the field of trading and distribution of technical goods such as instrumentation and control equipment, electrical power generation and transmission, and air handling equipments.  But until now, the planned activities of P.T. NMS in field of trading and distribution of technical goods had not been in operation commercially. We noticed that P.T. NMS is a small private company, which has not yet had any business activity.

 

In general we noticed that the demand for agricultural products and chemical products at home increased by about 6% to 8% per year in the last five years.  It's just that the competition is very tight, because so many private companies engaged in the business. Besides the competition in technical goods trading are also very competitive.  We can not describe the business prospects of PT. NMS, because until now it has not yet operated commercially.   We saw that the situation of this company's office was also very quiet and there was no any business activity.


P.T. NMS has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement.  In view of P.T. NMS is having yet to be in commercial operation, the financial condition of the company is as the paid up capital of Rp. 550,000,000 as stated in the articles of association of the company. The financial condition of the company still depends on the financial condition of its shareholders.  So far we have never heard that the company registered with the black list of Bank of Indonesia (Central Bank) or involved in the civil case that settled through the country court.

 

The company's management is headed by Mr. Susanto (38) a young businessman as director and Mr. Lie Kia Seng (70) as commissioner.  So far, we did not hear that the company’s management involved in a business malpractices 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.  We observed that the company’s management is not actively joined in any political party activity in the country.

 

In view of P.T. NIAGA MAKMUR SEJATI is having yet to be in commercial operation, we recommend to treat prudently in business transaction and in extending a new loan to the company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.77.86

Euro

1

Rs.66.06

 

 

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.