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Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGRI TEKNIK SEJATI |
|
|
|
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Registered Office : |
Jl. Taman Sari Raya No. 20B Jakarta 11150 |
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Country : |
|
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Date of Incorporation : |
1995’s |
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Legal Form : |
Sole Proprietary Company |
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Line of Business : |
Trading and Distribution of Tractor Equipments and parts |
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No. of Employees : |
12 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 |
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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) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AGRI TEKNIK
SEJATI
Head Office
Jl. Taman Sari Raya No. 20B
Jakarta 11150
Indonesia
Phone -
(62-21) 6018101, 6008609, 6008614, 6008619
Fax - (62-21) 6390552
Email - atsjkt@cbn.net.id
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
1995’s
Legal Form :
Sole Proprietary
Company
Company Reg.
No. :
Not Required
Company Status
:
Private Company
Permit by the
Government Department :
The Department of Finance
Not available
Related
Company :
Not available
Capital
Structure :
Owned Capital - Rp. 1,200
million
Owner :
Mr. Suriyanto -
100%
Lines of
Business :
Trading and
Distribution of Tractor Equipments and parts
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1995
Brand Name :
Agri Teknik
Sejati
Technical
Assistance :
None
Number of
Employee :
12 persons
Marketing Area
:
Locals - 100%
Main Customers
:
a. Corporate and
Individuals
b. Department of
Agricultural
c. Directorate
General of Plantation
d. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. PT.
Dianpertiwi Nugraha
b. CV. Diesel
Tractor Company
c. CV. Jaya
Kamkmur Diesel
d. CV. Mulia
Bakti
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jl. Taman Sari No. 47-47A
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp .14.9
billion
2010 – Rp. 16.6
billion
2011 – Rp. 18.5
billion
Net Profit
(estimated) :
2009 – Rp. 720
million
2010 – Rp. 850
million
2011 – Rp. 960
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Suriyanto
Board of Commissioners :
None
Signatories :
Director (Mr. Suriyanto)
is only the authorized person to sign the loan on behalf of the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
AGRI TEKNIK SEJATI
(ATS) was incorporated in Jakarta in 1995’s with the status of Sole Proprietary
Company. The company was founded by Mr. Suriyanto, an Indonesian businessman of
Chinese origin. As in common in cases
of companies with Sole Proprietorship status, there is no mention in the
company’s notary act of its capital structure.
But going by the company’s conditions, we estimate its capital at some
Rp. 1.2 billion. But we have strong
reason to believe that the capital invested in the company is now much bigger.
ATS is a private
company dealing with trading and distribution of tractor equipment and parts.
Mr. Sujono, a sales staff of the company explained that ATS sells various
tractor equipment and parts such as Deutz, Man, MWM, Mercedes Benz, SKL and
generator parts, filter, etc. The
products are imported from Singapore, China, Japan, Hong Kong and others. The
whole product are sold and supplied to corporate and individuals, Department of
agricultural, Directorate General of Plantation and others in Jakarta and it
surroundings. We notice that ATS is a
classified as a medium sized company of its kind in the country of which the
operation has been growing in the last three year.
In overall we
find the demand for diesel equipment and parts has been rising by the average
5% to 6% per year within the last five years in line with the growth of
plantation, forestry, mining sector and Indonesian people’s purchasing
power. But since the global economic
crisis and tight money policy being imposed by Bank Indonesia in October 2008
the demand was decreased within due to a poor economic condition, decreasing
income per capita and a weak in public purchasing power. The demand was
increasing in the early 2009 due to economic condition was gradually recovery
in the country. The growth rate is now estimated at 4% to 5% per year. Market
competition is very tight due to a large number of similar companies operating
in the country.
Until this time
ATS has not been registered with Indonesian Stock Exchange, so that they shall
not obliged to announce their financial statement. The management of ATS is
very reclusive towards outsiders and rejected to disclose its financial
condition. We estimated that total sales turnover of the company in 2009
amounted to Rp. 14.9 billion increased to Rp. 16.6 billion in 2010 and rose
again to Rp. 18.5 billion in 2011 and
projected to go on rising by at least 6% in 2012. The operation in 2011 yielded an estimated
net profit at least Rp. 960 million and the company has an estimated total
networth at Rp. 2.0 billion. So far, we
did not heard that the company having been black listed by the Central Bank
(Bank Indonesia).
The management
of ATS is led by Mr. Suriyanto (52) a businessman with more than about 20 years
experience in trading and distribution of diesel equipment and parts. The
company's management is also handled by professional staffs 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.
AGRI TEKNIK
SEJATI is appraised to be good for business transaction. However, in view of
the unstable economic condition in the country we recommend to treat prudently
in extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.59 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
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.