MIRA INFORM REPORT

 

 

Report Date :

13.07.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

C.V. UNIVERSAL TRADING MAJU

 

 

Registered Office :

JCD Building, 3rd Floor, Jalan K.H. Wahid Hasyim No. 27, Kelurahan Gondangdia, Kecamatan Menteng, Jakarta Pusat, 10340

 

 

Country :

Indonesia

 

 

Year of Establishment :

2000

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Partnership with Sleeping Partner

 

 

Line of Business :

Trading, Import and Supply of Animal Feed Raw Materials

 

 

No. of Employees :

07

 

 

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

 

Name of Company

 

C.V. UNIVERSAL TRADING MAJU

 

 

company Address

 

Head Office

JCD Building, 3rd Floor

Jalan K.H. Wahid Hasyim No. 27

Kelurahan Gondangdia, Kecamatan Menteng

Jakarta Pusat, 10340

Indonesia

Phone               - (62-21) 31904162, 9159479

Fax                   - (62-21) 31926085

E-mail               - chaiyono@indo.net.id

Building Area     - 4 storey

Office Space      - 80 sq. meters

Region              - Commercial

Status               - Rent

 

Date of Incorporation

 

2000’s

 

 

Legal Form

 

C.V. (Commanditaire Vennootschap) or Partnership with Sleeping Partner

 

 

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 AND OWNERSHIP

 

Capital Structure :

Owned Capital                                 : Rp. 200 million

 

Owners :

a. Mr. Chaiyono (Active Partner)

b. His wife Mrs. Chaiyono (Silent Partner)

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading, Import and Supply of Animal Feed Raw Materials

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

2000’s

 

Brand Name :

Universal Trading Maju

 

Technical Assistance :

None

 

Number of Employee :

7 persons                                       

 

Marketing Area :

Local       - 100%

 

Main Customer :

Animal Feed Milling Industry

 

Market Situation :

Very Competitive

 

Main Competitors :

a. PD. AGRO MAKMUR

b. C.V. ASIA ENTERPRISE

c. C.V. MULTI JAYA

d. P.T. KATRACO SANTIKA

e. P.T. PURINDO PUTRA JAYA

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

Bankers :

a.   Hongkong and Shanghai Banking Corp. Ltd.

      World Trade Centre

      Jalan Jend. Sudirman Kav. 29-31

      Jakarta Selatan

      Indonesia

b.   P.T. Bank CENTRAL ASIA Tbk

      Jalan K.H. Wahid Hasyim No. 183 A-B

      Jakarta Pusat

      Indonesia

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2009 – Rp. 7.2 billion

2010 – Rp. 7.9 billion

2011 – Rp. 8.6 billion

 

Net Profit (estimated) :

2009 – Rp. 360 million

2010 – Rp. 395 million

2011 – Rp. 455 million

 

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                           - Mr. Chaiyono

 

Board of Commissioners :

None

 

Signatories :

Director (Mr. Chaiyono) is only the authorized person to sign the loan on behalf of the company.

 

 

CAPABILITIES

 

Management Capability :

Satisfactory

 

Business Morality :

Satisfactory

 

 

OVERALL PERFORMANCE

 

Based on investigation the correct name of the Subject is C.V. UNIVERSAL TRADING MAJU not P.T. UNIVERSAL TRADING MAJU as stated in your order ref. no. 186522 dated 6 July 2012. We have search and check through Ministry of Law and Human Rights there was not found and registered P.T. UNIVERSAL TRADING MAJU. Based on contacted to the company the Subject is C.V. UNIVERSAL TRADING MAJU. 

 

C.V. UNIVERSAL TRADING MAJU (C.V. UTM) was established in Jakarta in 2000’s with the legal status of C.V. (Commanditaire Vennootschap) or Partnership with Sleeping Partner. The founding and owners of the company are Mr. Chaiyono as active partner and his wife as silent partner. As in common in cases of companies with C.V. status, there is no mention in the company’s notarial act of its capital structure. But going by the company’s conditions, we estimate its capital at some Rp. 200 million.

 

C.V. UTM has been in operation since 2000’s dealing with trading, importing and supply of animal feed basic materials. Mr. Chaiyono, Director and owner of the company said the company acted as broker by provides animal feed basic materials to their clients in animal feed milling industry. The animal feeds as the merchandise products include corn, soybean meals, mean and bone meals, fish meals, blood meals and others. C.V. UTM provides soybean meal and other basic materials for their customer in animal feed milling industry. Whole basis materials of animal feeds are imported from the India, China, Japan, South Korea, Argentina, and the USA. The merchandise products are sold among animal feed industries in the country including P.T. JAPFA COMFEED INDONESIA Tbk, P.T. MABAEFEED in Medan, North Sumatera and P.T. KARKA NUTRI INDUSTRI in East Java. We observe that C.V. UTM is a small size company of its kinds with its operation has been growing in the last three years.

 

In overall we find the demand for animal medicines, animal feed like broiler feed and other animal feed had been rising in 2008, in line with a relative better animal husbandry sector. The demand for meat, egg has also tended to rise in line with a better economic condition in the country. The rising demand for livestock products in 2009 had increased animal husbandry business both big livestock like goat, sheep, cow and poultry like chicken, broiler, duck, etc. Among the above livestock, poultry business is the most growing very fast. It has made the growing of animal feed business and pushed up the demand of animal feed basic materials like corn, soybean meal, fish meal, etc.

 

Until this time C.V. UTM has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of C.V. UTM 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. 7.2 billion rose to Rp. 7.9 billion in 2010 increased to Rp. 8.6 billion in 2011 and projected to go on rising by at least 5% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 455 million. 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 C.V. UNIVERSAL TRADING MAJU is led by Mr. Chaiyono (50) a businessman and professional manager with experience in trading of animal feed basic materials. 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 believed that C.V. UNIVERSAL TRADING MAJU is fairly good for business transaction.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.86.28

Euro

1

Rs.68.15

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.