MIRA INFORM REPORT

 

 

Report Date :

30.07.2012

 

IDENTIFICATION DETAILS

 

Name :

P.T. RAFLI NATAMA

 

 

Registered Office :

Jl. Dr. Sumarno No. 30, (Jl. Sentra Primer No. 30), Cakung, Jakarta 13950

 

 

Country :

Indonesia

 

 

Date of Incorporation :

28.03.2009

 

 

Com. Reg. No.:

No. AHU-AH.01.10-33916

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading and Distribution of Fastening, Solar Water Heater and Industrial Power Tools

 

 

No. of Employees :

04

 

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 

 

P.T. RAFLI NATAMA

 

 

Company Address

 

Head Office

Jl. Dr. Sumarno No. 30

(Jl. Sentra Primer No. 30)

Cakung, Jakarta 13950

Indonesia

Phone               - (62-21) 48700175

Fax                   - (62-21) 48702925

Email                - raflinatama@yahoo.co.id

Building Area     - 2 storey

Factory Space   - 90 sq. meters

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation

 

28 March 2009

 

 

Legal Form

 

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

 

 

Company Reg. No.

 

The Ministry of Law and Human Rights

-No. AHU-12008.AH.01.01.Th.2009

  Dated 08 April 2009

- No. AHU-AH.01.10-33916

  Dated 21 October 2011

 

 

Company Status

 

National Private Company

 

Permit by the Government Department

 

Not available

 

Related Company

 

Not available

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                            - Rp. 500,000,000.-

Issued Capital                                  - Rp. 500,000,000.-

Paid up Capital                                - Rp. 500,000,000.-

 

Shareholders/Owners :

a. Mr. Muhammad Soleh Rambe            - Rp. 125,000,000.- (25%)

    Address: Jl. Sentra Primer No. 45

                   RT.011/008, Pulogebang

                   East Jakarta

b. Mr. Abdul Jalil Daulay                        - Rp. 375,000,000.- (75%)

    Address: Jl. Wibawa Mukti IV, RT.004/017

                   Kampung Rawa Bogo,

                   Bekasi, West Java

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading and Distribution of Fastening, Solar Water Heater and Industrial Power Tools

 

Production Capacity :

None

 

Total Investment :

Owned Capital    - Rp. 500 million

 

Started Operation :

June 2009

 

Brand Name :

Rafli Natama

 

Technical Assistance :

None

 

Number of Employee :

4 persons                                       

 

Marketing Area :

Domestic    - 100%

 

Main Customers :

Corporate and Individuals

 

Market Situation :

Very Competitive

 

 

Main Competitors :

a. P.T. KARYA PRIMA SUPLINDO

b. P.T. CATUR MITRA SEJATI SENTOSA

c. P.T. CATUR SENTOSA ADIPRANA

d. P.T. CATUR KARDA DEPO BANGUNAN

e. Etc.

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

P.T. Bank CENTRAL ASIA Tbk

Jl. Raya Bekasi Ujung Menterng

Cakung, Jakarta Timur

Indonesia

 

Auditor :

Internal auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales :

2009 – Rp. 1.2 billion

2010 – Rp. 3.6 billion

2011 – Rp. 5.2 billion

 

Net Profit :

2009 – Rp.   60 million

2010 – Rp. 180 million

2011 – Rp. 260 million

 

Payment Manner :

Average

 

Financial Comments :

Fairly

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                           - Mr. Muhammad Soleh Rambe

 

Board of Commissioners :

Commissioner                                 - Mr. Abdul Jalil Daulay

 

Signatories :

Director (Mr. Muhammad Soleh Rambe) which must be approved by Board of Commissioner (Mr. Abdul Jalil Daulay)

 

 

CAPABILITIES

 

Management Capability :

Fairly

 

Business Morality :

Fairly

 

Credit Risk :

Average

 

 

OVERALL PERFORMANCE

 

P.T. FARLI NATAMA (P.T. FN) was established in Jakarta on March 2009 with an authorized capital of Rp. 500,000,000.- entirely was issued and fully paid up.  The founding shareholders of the company are Mr. Muhammad Soleh Rambe (25%) and Mr. Abdul Jalil Daulay (75%), both are Indigenous businessmen.  The Articles of Association was made by Ms. Dian Fitriana, SH., a notary in Jakarta and it was approved by the Minister of Law and Human Rights through Decision Letter No. AHU-12008.AH.01.01.Th.2009 dated April 8, 2009 and No. AHU-AH.01.10-33916 dated October 21, 2011.  Since then no changes have occurred in its shareholding composition and capital structure to date.

 

P.T. RN is engaged in trading and distribution of fastening, solar water heater and industrial power tools.  Ms. Liana, an administrative staff of P.T. RN explained that the company sells fastening products such as bolts and nuts, rivets, rivet nuts steel, machinery and power tools, abrasives and other industrial supplies.  The products are imported from Taiwan, China, USA and UK.  Besides, P.T RN sells Solar Water Heater and gypsum materials such as drywall screws, angle clip, textile tape, hollow plate, etc. The whole products are also supplied to private companies such as woodworking industries, furniture, metal working, automotive industries and individuals.  We observed that P.T. RN is classified as a small-sized company of its kind in the country of which the operation has been growing in the last three years.

 

Generally, the demand for fastening, solar water heater and industrial power tools has kept on rising by 6% to 8% per annum in the last five years. Such condition was in line with the growth of industrial manufacturing, automotive industry, woodworking and furniture manufacturing, packing industries and other sectors requiring the above products. It is projected that the demand growth will be rising within the next five years. Market competition is very tough on account of many other similar companies operating in Indonesia.

 

The Indonesian economy has weathered the storm and is currently accelerating.  As for the global economy, it is also in a recovery phase and this recovery is expected to continue in 2010. Overall, the prospects for the Indonesian economy in 2010 are brighter than in 2009. The global economic recession has exerted significant downward pressures on the Indonesia economy.

 

Eventually, the impact of the fiscal and monetary stimuli on the economy could be seen. This was reflected in the brisker pace of growth in Indonesia despite the global economic recession.  In the second quarter of 2009 the Indonesian economy grew by 4.0 percent, and in the third quarter of the year it grew by 4.2 percent. The economic is expected to accelerate further in the fourth quarter of 2009.  Ant for the whole of 2009 the Indonesian economy is expected tot grow by 4.7 percent and 6.0 percent in 2010. Several factors support brisker economic growth in 2010.  First, the global economic conditions are expected to be better in 2010 than in 2009. This is evident in the global economic recover that is expected to continue well into 2010. The US economy, for example, is expected to grow by 2.5 percent in 2010 compared to a contraction of 2.4 percent in 2009.  Meanwhile, the Japanese economy is predicted to grow by around 1.2 percent in 2010 in contrast to an expected contraction of around 5.7 percent in 2009. As for Europe, it is expected to grow by 1.1 percent in 2010 compared to an expected contraction of around 3.8 percent in 2009. Against this backdrop, Indonesian exports are expected to grow by 12.9 percent 2010.

 

Indonesia’s economic growth in 2008, 2009 and forecast for 2010

No.

Sector

2008

2009

2010

1.

Agriculture

4.8

3.6

3.3

2.

Mining and Quarrying

0.5

3.7

3.7

3.

Manufacturing

3.7

2.2

2.2

4.

Electricity, Gas, and Clean Water

10.9

13.4

13.4

5.

Construction

7.3

7.1

7.0

6.

Trade, Hotel, and Restaurant

7.2

1.2

5.8

7.

Transportation and Communication

16.7

17.4

16.7

8.

Finance, Leasing and Business Services

8.2

5.5

6.3

9.

Services

6.4

6.7

6.9

Gross Domestic Product (GDP)

6.1

4.7

6.0

Source: Indonesia Economic Almanac 2010 by Bisnis Indonesia

 

Until this time P.T. RN 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. 1.2 billion increased to Rp. 3.6 billion in 2010 and rose again to Rp. 5.2 billion in 2011.  We estimated the company has yielded a net profit at least Rp. 260 million in 2011 and the company has an estimated total asset at least 600 million.  It is projected that total sales turnover of the company will increase at least 10% in 2012.   So far, we did not hear that the company having been black listed by the Central Bank (Bank Indonesia).

 

 

The management of P.T. RN is headed by Mr. Muhammad Soleh Rambe (33), a young businessman who experienced for more than 5 years in trading and distribution of fastening, solar water heater and industrial power tools. In daily activities, he is assisted by Mr. Abdul Jalil Daulay (38) as commissioner.  The management of the company is having wide relation with private businessmen of home and overseas as well as with the government sectors. 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. RAFLI NATAMA is sufficiently fairly good for business transaction. But owing to economic condition in the country is still unstable, we recommend to treat prudently in extending any new loan to the company.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.41

UK Pound

1

Rs.86.93

Euro

1

Rs.68.10

 

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.