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Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
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Name : |
C.V. PILAR PRATAMA |
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|
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Registered Office : |
Jalan Raya
Jemursari No. 24, |
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Country : |
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Date of Incorporation : |
01.08.2005 |
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Com. Reg. No.: |
Not Available |
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|
Legal Form : |
partnership with sleeping partners |
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Line of Business : |
Trading, Supply and Distribution of Machinery, Spare Parts, Chemical and Steam Coal |
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No. of Employees : |
07 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
C.V. PILAR PRATAMA
Head Office
Jalan Raya
Jemursari No. 24
Surabaya, 60238
East Java
Indonesia
Phone -
(62-31) 70926950
Fax - (62-31) 8470143
E-mail - pilar-pratama@sby.centrin.net.id
Building Area - 1 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
1 August 2005
C.V.
(Commanditaire Vennootschap) or partnership with sleeping partners
Not Required
Private National
Company
The Department of
Finance
Not Available
None
Capital
Structure :
Owned Capital : Rp. 500
million
Owners :
a. Mr. Budi Darma (Active Partner)
b. Mrs. Lola Darma (Silent Partner)
Lines of Business
:
Trading, Supply
and Distribution of Machinery, Spare Parts, Chemical and Steam Coal
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2005
Brand Name :
C.V. Pilar
Pratama
Technical
Assistance :
None
Number of Employee
:
7 persons
Marketing Area
:
Local - 100%
Main Customer
:
Industrial
Manufacturing
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. DAYA ESA
MULYA
b. P.T. DAYA ESA MULYA MANDIRI
c. P.T. INKO METALINDO
d. P.T. PARADISE PERKASA, Etc
Business Trend
:
Growing
Banker :
P.T. Bank MANDIRI Tbk
Jalan Jemursari 81
Surabaya, East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 6.0
billion
2010 – Rp. 6.8
billion
2011 – Rp. 7.6
billion
Net Profit
(estimated) :
2009 – Rp. 0.4
billion
2010 – Rp. 0.5
billion
2011 – Rp. 0.7
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Budi Darma
Board of Commissioners :
Commissioner -
Mrs. Lola Darma
Signatories :
Director (Mr. Budi
Darma) is only the authorized person to sign the loan on behalf of the company.
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
C.V. PILAR PRATAMA (C.V. PP) was established in Surabaya, East Java on 1 August 2005 with the legal status of C.V. (Commanditaire Vennootschap) or Partnership with Sleeping Partner. The founding and owners of the company are Mr. Budi Darma as active partner and Mrs. Lola Darma as silent partner, both are indigenous business family of Javanese descents. 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. 500 million.
C.V. PP has been in operation since 2005 dealing with trading, supplying and distribution machinery, spare parts, industrial equipment, chemical and steam coals. C.V. PP is a trading company who are dealing with many industries, like paper mill, textile, food, packaging, power plant; The main supplies is chemical and spare part and also steam coal for local requirement and exports. Mr. Budi Darma, director and owner of the company explained C.V. PP focused in trading and distribution of machinery, spare parts and industrial equipment like control systems instrumentation, and other equipment. C.V. PP is a authorized distributor of FORBES MARSHALL of India. The type of products are steam generation (boiler, oil & gas boiler, coal, biomass & industrial waste boiler, power boiler & multi media energy plants, burner oil & gas, modular boiler); accessories (feedmeter tank systems, blowdown heat recovery units); steam distribution (mainline steam trapping, pipeline accessories); steam utilization (steam traps for process equipment, steam traps for tracing & jacketing lines, steam trap performance monitoring system, temperature control systems, pressure reduction, steam metering, steam & condensate manifolds, heat recovery systems, clean steam) and condensate recovery (condensate flash vessel, condensate contamination detecting systems) and others. Mr. Budi Darma added the whole merchandise goods are wholly sold among manufacturing plants, chemical industry, pulp & paper industry, pharmaceutical industry, food & beverage industry, power plants, oil and gas transportation & production such as P.T. Pabrik Kertas Tjiwi Kimia Tbk, P.T. EKAMAS FORTUNA, P.T. SURYA KERTAS Tbk, P.T. SURABAYA MEKABOX, P.T. SEMEN GRESIK Tbk, P.T. PETROKIMIA GRESIK, P.T. KERTAS LECES, P.T. SAMATOR GAS, P.T. SMELTING & CO., and others. The operation of C.V. PP has been growing in the last three years.
Generally, demand for technical equipment, piping systems, fittings, flanges, actuators, valves and other technical equipments had kept increasing by 8% to 10% per annum in the last five years in line with the growth of industrial sectors including oil and natural gas, building contractor, chemical industry, pharmaceutical, food & beverage, pulp & paper, cement, and other sectors requiring these equipments. It is projected that the demand will keep going up in five years to come. The competition is very tight on account of many similar companies operating in the country. The business position of C.V. PP is favorable on account of having already established customers and wide marketing networks in the country.
Until this time C.V. PP has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of C.V. PP 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. 6.0 billion rose to Rp. 6.8 billion in 2010 increased to Rp. 7.6 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. 0.7 billion and the company has an estimated total networth 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 C.V. PP is led by Mr. Budi Darma (36) a
businessman and professional manager with experience in trading, import and
distribution of technical equipment. He is a Chemical Engineering and has
experienced in steam engineering and control instrumentation. 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 appraised C.V.
PILAR PRATAMA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
UK Pound |
1 |
Rs.87.37 |
|
Euro |
1 |
Rs.69.95 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.