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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. INDOWINE |
|
|
|
|
Registered Office : |
Jalan Sunset Road No. 166 Kuta, |
|
|
|
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Country : |
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Date of Incorporation : |
23.10.2003 |
|
|
|
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Com. Reg. No.: |
No. AHU-26914.AH.01.02.TH.2010 |
|
|
|
|
Legal Form : |
Limited Liability Company |
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|
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|
Line of Business : |
Trading, Import and Distribution of Liquor and Wine |
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No. of Employees : |
27 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 |
|
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 |
P.T.
INDOWINE
Head Office
Jalan Sunset Road
No. 166
Kuta, Bali, 80361
Indonesia
Phones -
(62-361) 8477232 (Hunting), 756781
Fax - (62-361) 8629251, 756783
E-mail - juan@indowines.net
Website - http://www.indowines.net
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
23 October 2003
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C-26443.HT.01.01.TH.2005
Dated 26 September 2005
- No. AHU-26914.AH.01.02.TH.2010
Dated 26 May 2010
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.243.569.7-901.000
Related
Company :
UD. WINE HOUSE
(Retail and Wine Outlet Services)
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued Capital : Rp. 750,000,000.-
Paid up Capital : Rp. 750,000,000.-
Shareholders/Owners
:
a. Mrs. Made Sri Handarini - Rp. 562,500,000.-
Address :
Jl. Palapa IV/H No. 8, RT. 02 RW. 05
Kelurahan Sidakarya, Kecamatan Denpasar
Selatan, Bali
Indonesia
b. Mr. Ir. I Made Satria Jaya - Rp.
187,500,000.-
Address : Jl. Kapten Japa No.
29, RT. 03 RW. 06
Kelurahan Dangin Puri, Kecamatan Denpasar
Selatan, Bali
Indonesia
Lines of
Business :
Trading, Import
and Distribution of Liquor and Wine
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
November 2003
Brand Name :
Indowine
Technical
Assistance :
None
Number of
Employee :
27 persons
Marketing Area
:
Local - 100%
Main Customer
:
Distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ASKA
INDOCO
b. P.T. JADDI INTERNATIONAL
c. P.T. MITRA INDO MAJU
d. P.T. MULIATAMA MITRA SEJAHTERA
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
MANDIRI Tbk
Jalan Jend.
Gatot Subroto No. 80
Denpasar,
Bali
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Jalan Gatsu Barat
Denpasar, Bali
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 25.0
billion
2010 – Rp. 28.0 billion
2011 – Rp. 31.0
billion
Net Profit
(estimated) :
2009 – Rp. 1.1
billion
2010 – Rp. 1.4
billion
2011 – Rp. 1.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director -
Mr. Sugiarto Halomoan Siahaan
Board of Commissioners :
Commissioner -
Mr. Ir. I Made Satria Jaya
Signatories :
Director (Mr. Sugiarto
Halomoan Siahaan) which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. INDOWINE was
incorporated in Bali based on notary deed of Mr. Eddy Nyoman Winarta, SH., No.
48 dated 23 October 2003 with the authorized capital of Rp. 1,000,000,000
issued capital of Rp. 250,000,000 entirely paid up. The founding and
shareholders of the company are Mr. I Made Wiranatha AKA Kadek Wiranatha, his
wife Mrs. Natalia Sinclaire and Mrs. Ni Nyoman Arini Wirawathi, they are
Indonesian businessmen of Bali descents. The company notary deed has been
changed and according to the latest revision of notary documents of Mr. Eddy
Nyoman Winarta, SH., No. 68 dated 8 January 2010 Mr. I Made Wiranatha AKA Kadek
Wiranatha, Mrs. Natalia Sinclair and Mrs. Ni Nyoman Arini Wirawathi pulled out
and the whole shares had been took over by Mrs. Made Sri Handarini (75) and Mr.
Ir. I Made Satria Jaya (25%) as new shareholders. With this time the company
issued capital was increased to Rp. 750,000,000 entirely paid up. The latest
revision of notary documents was approved by the Ministry of Law and Human
Rights in its decision letter No. AHU-26914.AH.01.02.TH.2010 dated May 26,
2010.
We observe that
Mrs. Made Sri Handarini and Mr. Ir. I Made Satria Jaya is also business stakes
owner of UD. WINE HOUSE, a private national company dealing with trading,
marketing and retails/outlet of liquor and wine.
P.T. INDOWINE
has been in operation since November 2003 dealing with trading and distribution
of liquor and wines. P.T. INDOWINE is one the biggest company to provide liquor
and wine in Bali province which has obtained permits from the Department of
Trade to import of the products. P.T. INDOWINE is the agent and distributor of
wine products of Mc HENRY HOHNEN VINNERS of Australia; SALITAGE Wine of
Australia; TABAL Wine of Chile; CHAMPAGNE DUVAL LEROY of Belgium; VINA La
Roserva de Caliboro of Austria and others. The company is able to import of
more than 12,000 boxes of liquor and wines per year. Besides, P.T. INDOWINE is
also import of liquor and wine of France, United Kingdom, Germany, Spain, USA,
and other countries. Mr. Alit Surya, export import staff of the company
explained the whole merchandise goods supplied and marketed to various trader
and distributors of wine and liquor in Bali, Lombok, Surabaya, Jakarta and
other countries. Besides the company also sell its merchandise products to
various restaurants, cafes and hotels in Bali, Jakarta, Surabaya and other
cities. The merchandise products are also supplied to its sister company UD.
WINE HOUSE engaged in retails of liquor and wines, hotels, cafes and
restaurant. The operation of P.T. INDOWINE has been running smoothly and
growing in the last three years.
Generally,
demand for liquor, wines products had been increasing in the last five years in
line with the tourist visit flow and star hotel occupancy rate in the country.
According to data from the Central Bureau of Statistic (BPS), the total
capacity import of liquor and wine in 2007 amounted at 190,000 boxes increased
to 220,000 boxes in 2008, increased to 290,000 boxes in 2009, rose to 318,000
boxes in 2010 and to 324,000 boxes in 2011. It is projected the total capacity
import of liquor and wines will be higher by at least 5% in 2012 due to the
growth of tourist visits and star hotels in Indonesia. This condition extremely
influences the demand for wine products being sold by P.T. INDOWINE to hotels,
restaurants, cafes, and bars in the country.
Until this time
P.T. INDOWINE has not been registered with Indonesian Stock Exchange, so that
they shall not obliged to announce their financial statement. The management of
P.T. INDOWINE 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. 25.0 billion rose to Rp. 28.0 billion in 2010 increased to
Rp. 31.0 billion in 2011 and projected to go on rising by at least 6% in 2012.
The operation in 2011 yielded an estimated net profit of at least Rp. 1.8
billion and the company has an estimated total networth of at least Rp. 7.0
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. INDOWINE is led by Mr. Sugiarto Halomoan Siahaan (47) a professional
manager with experience in trading, import and distribution of liquor and wine.
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. P.T. INDOWINE is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.55 |
|
|
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.