MIRA INFORM REPORT
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Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
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Name : |
UD. MITRA KHARISMA |
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Registered Office : |
Jalan Sumarsono Gang Nangka No. 78, Karangsari, Helpetia,
Medan, 20115, North Sumatera |
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Country : |
Indonesia |
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Date of Incorporation : |
January 2011 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole Proprietary
Company |
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Line of Business : |
Trading, Import
and Distribution Food Machinery and Equipment |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 23,600 |
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Status : |
New Company |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
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 |
UD. MITRA KHARISMA
Head Office
Jalan Sumarsono
Gang Nangka No. 78
Karangsari,
Helpetia
Medan, 20115
North Sumatera
Indonesia
Phone -
(62-61) 661 5321
Fax - (62-61) 661 5321
Mobile Phone - 0812 600 3097
Building Area - 1 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
January 2011
Sole Proprietary
Company
The Ministry of
Law and Human Rights
Not Required
Private National
Company
The Department of
Finance
Not Available
None
Capital
Structure :
Owned Capital : Rp. 200
million
Owners :
Mr. Sumito
Lines of
Business :
Trading, Import and
Distribution Food Machinery and Equipment
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
January 2011
Brand Name :
Mitra Kharisma
Technical
Assistance :
None
Number of
Employee :
7 persons
Marketing Area
:
Local - 100%
Main Customer
:
Food Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. ANEKA MESIN
INDUSTRI
b. PD. BAROKAH
c. PD. BURSA MESIN
d. DUNIA MESIN
e. Etc.
Business Trend
:
Growing
Banker :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Diponegoro
No. 15
Medan, North
Sumatera
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 1.8
billion
Net Profit (estimated)
:
2011 – Rp. 75.0
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Sumito
Board of Commissioners :
None
Signatories :
Director (Mr. Sumito) 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
Maximum Credit Limit :
US$ 23,600 on 90
days D/A
UD. MITRA KHARISMA (UD. MK) is a sole proprietary company which established in Medan, North Sumatra in January 2011 by Mr. Sumito an Indonesian businessman of Chinese extraction. As in common in cases of companies with Sole Proprietary Company 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.
UD. MITRA KHARISMA (UD. MK) started to be operating in January 2011 dealing with trading, import, distribution and supply of food machinery, equipment and spare parts. Mr. Sumito, Director of UD. MK went on to say the whole products import from India by using FORBES brand and other brands. He also added the whole products supplied through various food processing industries which operating in Medan, Tebing, Pematang Siantar, all in North Sumatera. Besides, some of the products marketed through trader and shop of machine in North Sumatera. We observe UD. MITRA KHARISMA is classified a small size company of its kinds which operation still relatively new operating in the last one year.
In overall views we find the demand for industrial machines of food processing has been rising by 6% to 8% within the last five years. It is in line with the growing food processing industries, and it is likely to remain rise by at least 6% within the coming five years. Competition is very tight due to a lot of similar imported products are for sales. Business position of UD. MK is quite good for it has already controlled marketing network in Medan and surroundings.
Until this time UD. MK has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of UD. MK is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in the first year operation January to December 2011 amounted to Rp. 1.8 billion and projected to go on rising by at least 4% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 75 million and the company has an estimated total net worth of at least Rp. 0.2 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 UD. MK is led by Mr. Sumito (43) a businessman and professional manager with experience in trading, import and distribution of food machinery and spare parts. 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. In view of UD MITRA KHARISMA is classified a small size company and
relatively new operating we recommend to treat prudently in extending a loan to
the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.15 |
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UK Pound |
1 |
Rs.78.25 |
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Euro |
1 |
Rs.65.57 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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.