MIRA INFORM REPORT
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Report Date : |
07.01.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. SHAHZAD TRADERS |
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Registered Office : |
Ruko ITC Cempaka Mas Block B No. 2, Jalan Letjend.
Suprapto, Jakarta Pusat, 10460 |
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Country : |
Indonesia |
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Date of Incorporation : |
26.09.2007 |
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Com. Reg. No.: |
No. C-04886 HT.01.01.TH.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Agricultural Commodities
Products |
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No. of Employees
: |
17 |
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$ 84,200 |
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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. SHAHZAD TRADERS
company Address
Head Office
Ruko ITC Cempaka Mas Block B No. 2
Jalan Letjend. Suprapto
Phone - (62-21) 42803818
Fax - (62-21) 42882572
E-mail - marketing@ptshahzad.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
26 September 2007
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of
Law and Human Rights
No. C-04886 HT.01.01.TH.2007
Dated 29 November 2007
Company Status
Private National Company
Permit by the Government
Department
The Department of
Finance
Not Available
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 450,000,000.-
Issued Capital :
Rp. 450,000,000.-
Paid up Capital :
Rp. 450,000,000.-
Shareholders/Owners :
a. Mr. Sohail Shahzad Butt -
Rp. 360,000,000.-
Address : Jl. Pulo Asem V/36, RT. 004 RW. 001
Kel. Jati, Kec. Pulo Gadung
Jakarta Timur
Indonesia
b. Mr. Arjuna Karo
Sekali -
Rp. 90,000,000.-
Address : Jl. Batu Amantis No. 5, RT. 006 RW. 010
Kel. Kayu Putih, Kec. Pulo
Gadung
Jakarta Timur
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading and Distribution of Agricultural Commodities
Products
Production Capacity :
None
Total Investment :
None
Started Operation :
October 2007
Brand Name :
Shahzad Traders
Technical Assistance :
None
Number of Employee :
17 persons
Marketing Area :
Export - 100%
Main Customer :
Buyers in
Market Situation :
Very Competitive
Main Competitors :
a. P.T.
b. P.T. ALAM
INDORAMA
c. P.T. GLOBAL
VISION IMPEX
d. C.V. PUTRA
NUSA
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Banker :
P.T. Bank MANDIRI Tbk
ITC Cempaka Mas Mega Grosir, Lower Ground No. 155-156
Jalan Letjend
Suprapto
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2009 – Rp. 5.0 billion
2010 – Rp. 5.6 billion
2011 – Rp. 6.4 billion
Net Profit (estimated) :
2009 – Rp. 0.4 billion
2010 – Rp. 0.5 billion
2011 – Rp. 0.6 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director -
Mr. Sohail Shahzad Butt
Board of Commissioners :
Commissioner - Mr. Arjuna
Karo Sekali
Signatories :
Director (Mr. Sohail Shahzad Butt) which must be approved by
Board of Commissioner
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$ 84,200 on 90 days D/A
OVERALL PERFORMANCE
The complete and correct name of the Subject is P.T. SHAHZAD TRADERS not P.T. SHAZAD TRADERS as stated in your order Ref. No. 165303 dated 3 January 2012.
P.T. SHAHZAD TRADERS (P.T. ST) was incorporated in Jakarta based on notary deed of Mrs. Rita Imelda Ginting, SH., No. 19 dated 26 September 2007 with an authorized capital of Rp. 450,000,000 wholly issued and paid up. The founding and shareholders of the company are Mr. Sohail Shahzad Butt (80%) and Mr. Arjuna Karo Sekali (20%), both are indigenous businessmen. Based on our knowledge up to writing the report the notary documents of the company have not undergone any changes. The company notary act was approved by the Ministry of Law and Human Rights in its decision letter No. C-04886 HT.01.01.TH.2007 dated November 29, 2007.
P.T. ST started to be operating since October 2007 to be engaged in the field of trading and exporter of agricultural commodities products. The merchandise goods products are betel nuts, gum copal, gum dammar, gum resins, kernels, edible oil & fat, rice & grains, nuts, spices, tea, seasonings, confectionery, toiletries, PAO, PFAD, and paper products. The agricultural product bought from farmer in Java, North Sumatera, West Sumatera, Jambi, South Sumatera, Lampung, Java, Sulawesi, and others island of Indonesia. Besides, paper products bought from industrial papers which operating in Java. Then, the whole products are exported to Pakistan, Bangladesh, India, Nepal, Sri Lanka, Dubai, Iran and Singapore being their markets. We observed that P.T. ST is classified a small sized of its kinds which operating has been growing with 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 P.T. ST to be in a
quite favorable position for having already got hold of a steady clientele in
the country and abroad.
Until this time
P.T. ST has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T. ST 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. 5.0 billion
rose to Rp. 5.6 billion in 2010 increased to Rp. 6.4 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. 0.6 billion and the company has an
estimated total net worth of at least Rp. 1.0 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
P.T. ST is led by Mr. Sohail Shahzad Butt (39) a young businessman and
professional manager with experience in trading and exporter of agricultural
commodities products. Daily operation he is also assisted by Mr. Arjuna Karo
Sekali (36) as Commissioner. The company's management is handled by a numbers
of 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 convinced that P.T. SHAHZAD TRADERS is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.78 |
|
UK Pound |
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.67.46 |
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.