MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
RAHMATULLAH |
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Registered Office : |
Jalan Tangkuban Perahu No. 508, Banjar Pangumbengan, Kangin, Kerobokan – Kuta, Bali |
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Country : |
Indonesia |
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Year of Establishment : |
2009 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Petrified Wood Manufacturing,
Wholesale and Retail |
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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$ 46,000 |
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Status : |
Small Concern |
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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) |
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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 |
RAHMATULLAH
Head Office
Jalan Tangkuban
Perahu No. 508
Banjar
Pangumbengan, Kangin
Kerobokan – Kuta
Bali
Indonesia
Phones -
(62-361) Not Available
Fax - (62-361) Not Available
Mobile Phone - 08585 7175 123
(Mr. Tekky Rahmatullah)
E-mail - ekahandayani_86@yahoo.co.id
Building Area - 1 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
2009
Sole Proprietary
Concern
Not Required
Private National
Concern
The Department of
Finance
Not Available
PUTRA JAMBU
(Manufacture of Petrified Wooden Furniture)
Capital
Structure :
Owned Capital : Rp. 200
million
Owners :
Mr. Tecky Rahmatullah
Lines of
Business :
Petrified Wood
Manufacturing, Wholesale and Retail
Production
Capacity :
Petrified Wood - 500,000 KL
per annum
Total Investment
:
None
Started
Operation :
2009
Brand Name :
Rahmatullah
Technical
Assistance :
None
Number of
Employee :
7 persons
Marketing Area
:
Export - 100%
Main Customer
:
Buyers in Europe
Union, USA and Asia
Market
Situation :
Very Competitive
Main
Competitors :
a. DELIA
PETRIFIED WOOD
b. IFURNITURE
c. PUTRA JAMBU
d. C.V. SERPENTINE INDONESIA
e. Etc.
Business Trend
:
Growing
Banker :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Cokroaminoto No. 32 E
Kuta, Denpasar
Bali
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 2.5
billion
2010 – Rp. 3.0
billion
2011 – Rp. 3.5
billion
Net Profit
(estimated) :
2009 – Rp. 125
million
2010 – Rp. 180
million
2011 – Rp. 210
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Tecky Rahmatullah
Marketing Manager -
Mrs. Eka Handayani
Board of Commissioners :
None
Signatories :
Director (Mr. Tecky
Rahmatullah) is only the authorized person to sign the loan on behalf of the
concern .
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$ 46,000 on 90
days D/A
RAHMATULLAH was established in Denpasar, Bali in 2009’s the status of Sole Proprietary Concern . The concern was founded by Mr. Tecky Rahmatullah an indigenous businessman. The concern ’s authorized capital is not announced in its deed of establishment. In general, the concern with legal status of sole proprietary concern shall increase its capital continuously together with its business development. We estimated that RAHMATULLAH has capital about Rp. 200 million.
RAHMATULLAH is a sole proprietary concern dealing with petrified wood manufacturing, wholesale and retail. Petrified wood is a type of fossil: it exists of fossil wood where all the organic materials have been replaced with minerals (most often a silicate, such as quartz) , while retaining the original structure of the wood. The concern has been operating since 2009 by produces various type of petrified wood such as stool, bench, table top, table slab, round slab for table, table set, sink and interior. RAHMATULLAH produce and sell many kind designs and various product of petrified wood / wood fossil at the workshop uses for interior and exterior, stool, bench, table, sink, pedestal, slice, slabs, log, garden stone, tree, for fountain, ashray, natural, agate, tile, cube, bowl, key chains, handy craft and other product. RAHMATULLAH have stock of Petrified Wood Approx 1.000.000 Kilo. Besides they can design and custom cut to specific dimension and many sizes the product depends on buyer needed. The petrified wood is also uses for lamp handy craft, art craft and lamp craft, mirror, lamps and etc. made from breaking fossil / Petrified wood, is derived from trees that died thousands of years ago) made by 100% handmade. Besides, RAHMATULLAH sells furniture made by petrified wood best quality such as table, stool, slice, wash tafel, base lamp etc. Mr. Tecky Rahmatullah (through mobile phone 08585 7175 123) went on to say the whole products is exported to Europe Union, the USA, China, India and other countries. We observe the operation of RAHMATULLAH is classified a small size concern of its kinds which operating has been growing slowly in the last three years.
Generally the demand for petrified wooden furniture, furniture products has basically been increasing in the last five years. However, the lack of woods as the basic materials becomes serious problem faced by wooden furniture producers. Therefore, lots of wooden furniture producers can not fulfill the market demand. Besides, the price of woods in the country has highly been increasing in the last several years. In addition, the tight government policy in wooden products seems to burden the wooden product industries. The demand for wooden furniture products is estimated to be rising next year. However, the lack of woods and high prices of woods are estimated to influence the performance of wooden furniture products. RAHMATULLAH’s business position is favorable for having already established a wide marketing network in export market.
The Growth and Export
Value of Indonesian Furniture, 2003 – 2009*
|
Year |
Volume (Ton) |
Value (US$ Billion) |
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2003 |
835.627 |
1,53 |
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2004 |
784.401 |
1,58 |
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2005 |
836.155 |
1,79 |
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2006 |
835.612 |
1,81 |
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2007 |
898.882 |
1,96 |
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2008 |
825.538 |
1,95 |
|
2009* |
108.573 |
0,28 |
Source: ASMINDO, 2009
*) January - February
Until this time RAHMATULLAH has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of RAHMATULLAH is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the concern in 2009 amounted to Rp. 2.5 billion rose to Rp. 3.0 billion in 2010 increased to Rp. 3.0 billion in 2011 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. 210 million and the concern has an estimated total net worth of at least Rp. 500 million. So far, we did not heard that the concern having been black listed by the Central Bank (Bank Indonesia). The concern usually pays its debts punctually to suppliers.
The management of RAHMATULLAH is headed by Mr. Tecky Rahmatullah (42) a businessman and professional manager with experience in petrified wood manufacture, wholesale and retail. Daily activity he is assisted by his wife Mrs. Eka Handayani (39) as Marketing Manager. They have wide relations with private businessmen within and outside the country. So far, we did not hear that the management of the concern being filed to the district court for detrimental cases or involved in any business malpractices. The concern ’s litigation record is clean and it has not registered with the black list of Bank of Indonesia. RAHMATULLAH is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.31 |
|
UK Pound |
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
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 |
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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 |
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<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.