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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. TOTAL GLOBALINDO |
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Registered Office : |
Jl. Boulevard
Bukit Gading Kokan Permata Blok C No. 32, Kelapa Gading, North Jakarta
14240 |
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Country : |
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Date of Incorporation : |
29.08.2008 |
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Com. Reg. No.: |
No. AHU-77934.AH.01.01.Tahun 2008 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
General Trading
and Import of Building Materials |
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No. of Employees : |
40 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
P.T. TOTAL GLOBALINDO
Head Office
Jl. Boulevard Bukit Gading Kokan
Permata Blok C No. 32
Kelapa Gading,
North Jakarta 14240
Indonesia
Phone - (62-021) 45857430
Fax. -
(62-021) 45860502
Building Area - 2 storey
Office Space - 45 sq. meters
Region - Commercial
Status - Rent
29 August 2008
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No. AHU-77934.AH.01.01.Tahun 2008
Dated 24 October 2008
National Private Company
The Department of
Finance
NPWP No.
02.845.975.8-043.000
None
Capital Structure :
Authorized
Capital -
Rp. 5,000,000,000.-
Issued
Capital - Rp.
1,250,000,000.-
Paid up
Capital - Rp.
1,250,000,000.-
Shareholder/Owner :
a. Mrs. Imelda Fernawati - Rp. 937,500,000.- (75%)
Address: Jl. Kayu Putih Selatan II No. 43
Kel. Kayu Putih, Pulogadung
East Jakarta, Indonesia
b. Mr. Emmel -
Rp. 312,500,000.- (25%)
Address: Jl. Raya Binong KP Galuga
Kel. Binong, Kec. Curug
Banten, Indonesia
Lines of Business
:
General Trading
and Import of Building Materials
Production
Capacity :
None
Total Investment :
None
Started Operation :
October 2008
Brand Name :
None
Number of Employee :
40 persons
Marketing Area :
Domestic - 100%
Main Customers :
a. Building Materials Stores
b. Others
Market Situation :
Very Competitive
Main
Competitors :
a. P.T. BANDUNG
MARMER
b. P.T. INDOKAWA
ROCHLINE MARBLE INDUSTRY
c. P.T.
MARINDATARA RAYA
d. P.T. MARMER
GRANIT MAS, etc.
Business Trend:
Growing
Bankers :
a. PT. Bank CENTRAL ASIA Tbk.
Jl. Kelapa Gading Boulevard Raya
Blok L/1
North Jakarta
Indonesia
b. The Hong Kong and Shanghai bank Corp. (HSBC)
Jl.
Boulevard Barat Blok X B No. 6
North
Jakarta
Indonesia
c. P.T. Bank
NEGARA INDONESIA Tbk.
Jl.
Boulevard Blok LA VI No. 24-25
North
Jakarta
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Net Sales (estimated) :
2009 – Rp. 10.5 billion
2010 – Rp. 22.0 billion
2011 – Rp. 24.5 billion
Net Profit (estimated) :
2009 – Rp. 360 million
2010 – Rp. 850 million
2011 – Rp. 980 million
Payment Manner :
Almost Promptly
Financial Comments :
Fairly
Board of Management :
Director - Mr. Emmel
Marketing Manager - Mr. Hartono
Board of Commissioner :
Commissioner - Mrs. Imelda Fernawati
Signatories :
Director (Mr. Emmel) which must be
approved by Board of Commissioner (Mrs. Imelda Fernawati)
Management Capability :
Fairly good
Business Morality :
Fairly good
Credit Risk
Above average
Credit
Recommendation :
Credit should be extended under guarantee
P.T. TOTAL GLOBALINDO (P.T. TG) was incorporated on August 29, 2008 with an authorized capital of Rp. 5,000,000,000.- of which Rp. 1,250,000,000.- was issued and fully paid up. The founding shareholders of the company are Mrs. Imelda Fernawati (75%) and Mr. Emmel (25%), both are Indonesian businesswoman/businessman of Chinese descent. The Articles of Association was made by Meissie Pholuan, SH., a public notary in Jakarta under Company Registration Number AHU-779334.AH.01.01.Tahun 2008 dated October 24, 2008. No changes have been effected in term of its shareholding composition and capital structures to date.
Pursuant to the deed of notary of the company, P.T. TG engaged to operate in trading, services, development, transportation, mining, printing, agricultural, workshop repair and industry. The Company’s registered office located at Jl. Boulevard Bukit Gading Kokan Permata Blok C No. 32, Kelapa Gading, North Jakarta and the company can open branch offices or representative offices at home and abroad.
P.T. TG has been operating since October 2008 dealing with the trading and importing of building materials such as marble, granite and ceramic tiles. Ms. Lia Oktobiani, an administration staff of P.T. TG explained that a large extent of the building materials such as ceramic, granite and marble tile are imported from India, China and Italy. Whole products of the company are locally marketed among building materials stores and retail shop in Jakarta, Depok, Bogor and Bekasi. Beside, P.T. TG is also dealing with trading, import and distribution of bathroom equipments, lightings and others. We observe that P.T. TG 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.
In overall views we find the demand for various kinds and types of ceramic tiles, granite and marble in the country had been rising by 12% to 15% per year within the last five years until mid-1997, in line with the growth of office building, hotel, apartment, real-estate, housing and other properties. But since 1998 it declined by at least 20% and will remain be lower by at least 7% in 1999 as the impact of the prolonged economic crisis that making many property projects were discontinued, lower public purchasing power and higher price of the products. While the competition is very tight due to a lot of similar products both local and imported ones are marketed in the country like KIA, IKAD, LUCKY, MULIA, ROMAN, SUPER ITALY, TOTO, DANTO TILE, MASTERINA, MILAN, etc.
Until this time P.T. TG has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. TG is very reclusive towards outsiders and rejected to disclose its financial condition. We estimate that sales turnover of the company in 2009 amounted to Rp. 10.5 billion increased to Rp. 22.0 billion in 2010 rose again to Rp. 24.5 billion in 2011 and projected to be increasing by 12% in 2012. We estimate that the operation of the company in 2011 gained a net profit of Rp. 980 million with a total assets of Rp. 12.0 billion. So far we did not hear that P.T. TG has been black listed by Bank Indonesia (Central Bank) or having detrimental cases being settled in local district court. The company usually pays its debts punctually to suppliers.
Pursuant to notary deed, the management of P.T. TG is headed by Mr. Emmel (37), a young businessman with experience for some 5 years in trading and import of building materials. Daily, he is assisted by Mr. Hartono as marketing manager, Mrs. Tuti Setiawati as administration staff and a number of sales staff also with experience and expertise in the business. The management has maintained a wide relation with private businessmen at home and abroad as well as with government authorities. So far, we did not hear that the company's management having been involved in the business malpractices.
P.T. TOTAL GLOBALINDO is appraised fairly good for business
transaction. But, since
this company just about three years in operation commercially, so we recommend
caution when going to provide fresh loans to them.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
|
UK Pound |
1 |
Rs.88.91 |
|
Euro |
1 |
Rs.71.25 |
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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
|
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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.