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Report Date : |
26.03.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. PIGURA JASALINDO |
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Registered Office : |
Jl. Binjai Km. 12 SP Kompos, Gg. Utama Dusun II No. 62/65 Puji Mulyo Sunggal, Deli Serdang, Medan North Sumatra |
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Country : |
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Date of Incorporation : |
03.02.2006 |
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Com. Reg. No.: |
No.
AHU-51831.AH.01.02.Tahun 2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Agriculture Products |
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No. of Employees : |
24 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 480,000 |
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Status : |
Satisfactory |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
P.T. PIGURA
JASALINDO
Head Office
Jl. Binjai Km. 12 SP Kompos,
Gg. Utama Dusun II No. 62/65
Puji Mulyo Sunggal,
Deli Serdang, Medan
North Sumatra
Indonesia
Phones -
(62-61) 8459477, 845 4285
Fax. - (62-61) 8451214, 845 4286
Land Area - 4,500 sq.
meters
Building Space - 2,200 sq. meters
Region - Industrial
Zone
Status - Rent
Date of
Incorporation :
03 February 2006
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No.
C-09901.HT.01.01.TH.2006
Dated 06 April 2006
b. No. AHU-51831.AH.01.02.Tahun 2009
Dated 27 October 2009
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 02.279.196.6-119.000
Related Company :
None
Capital Structure :
Authorized Capital
- Rp. 1,000,000,000.-
Issued Capital - Rp. 500,000,000.-
Paid up Capital - Rp. 500,000,000.-
Shareholders/Owners :
a. Mr. Muhammad
Jawed Shaik -
Rp. 490,000,000.-
Address : Jl. Murai VI
No. 63, Komplek Tomang Elok
Kel. Simpang Tanjung, Medan
North Sumatra - Indonesia
b. Mr. Hasrul
Harahap -
Rp. 10,000,000.-
Address : Jl. Cempaka Gang Melati No. 23-A
Kel. Tanjung Gusta, Medan
North Sumatra - Indonesia
Lines of Business
:
Trading and Distribution of Agriculture
Products
Production Capacity
:
None
Total Investment :
Owned Capital - Rp. 2.5 billion
Started Operation :
June 2006
Brand Name :
None
Technical Assistance :
None
Number of Employee :
24 persons
Marketing Area :
Domestic -
60%
Export -
40%
Main Customer :
a. Supermarkets
b. Traditional Market
c. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. DAKAI
IMPEX
b. P.T. ALAM INDORAMA
c. C.V. BUMI DJAJA
d. P.T. ADI SAMPOERNO
e. C.V. PUTRA NUSA
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Medan Branch
North Sumatra
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Medan Branch
North Sumatra
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2009 – Rp. 49.0
bilion
2010 – Rp. 55.0
billion
2011 – Rp. 62.5
billion
Net Profit
(estimated) :
2009 – Rp. 2.5
billion
2010 – Rp. 2.8
billion
2011 – Rp. 3.2
billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Muhammad Jawed Shaikh
Board of Commissioners :
President Commissioner - Mr. Hasrul Harahap
Commissioner -
Mrs. Fahmida Jawed
Signatories :
The Directors (Mr. Muhammad Jawed
Shaikh) which must be approved by the president commissioner (Mr. Hasrul
Harahap) or commissioner (Mrs. Fahmida Jawed)
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below Average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
Maximum Credit Limit :
US$ 480,000.- on the 90 days of payments
P.T. PIGURA JASALINDO (P.T.
PJ) was established in Deli Serdang, Medan, North Sumatra in February 2006 with
an authorized capital of Rp. 1,000,000,000.- issued capital of Rp.
500,000,000.- entirely paid up. The founding shareholders are Mr. Muhammad
Jawed Shaikh (90%), a Indonesian businessman of India extraction and Mr. Hasrul
Harahap (10%), a indigenous businessman.
Deed of Notary of the company was made by Mr. Kalam Liano, SH., a public
notary Deli Serang (Medan) under Company Registration Number C-09901
HT.01.01.TH. 2006, dated April 6, 2006 and No. AHU-51831.AH.01.02.Tahun 2009
dated October 27, 2009. No changes have
been effected in term of its shareholding composition and capital structures to
date. We allege that currently the amount
of capital invested by P.T. PJ has been much greater.
P.T. PJ has been
in operation since June 2006 in trading, export import and distribution of
agricultural products. Mr. Ucok Harahap, a staff senior of the company
explained that the whole agricultural products likes black pepper, palm cake,
clove, cashew nut and other spices, bought from farmer in Sumatra, Java and
others island of Indonesia. Then, the whole products are exported to Europe
Union, Pakistan and others. Besides, the company also imported of garlic,
peanut, dry chili, mung bean from China, Pakistan and India. The whole products supplied to snack food
industries and traditional market in Sumatra and Java Island. We observed that P.T. PJ is classified as a
medium sized company of its kind in the country of which the operation has been
growing in the last three years.
We have noticed that the
demand for agricultural products had increased some 10% to 11% per annum in the
last five years in line with the growth of industrial manufacturing in the
country and international market. In the coming years, the growth rate of
demand is estimated at about 6% to 7% per annum. The present market situation
for agricultural products is very competitive for a large number of similar
companies operating in the country. Meanwhile, competition is quite heavy in
the export import of agricultural products with many companies now doing
business in this field in Indonesia. We consider P.T. PJ to be in a quite
favorable position for having already got hold of a steady clientele in the
country and abroad.
Until this time
P.T. PJ has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. We estimated that total sales turnover of
the company in 2009 amounted of Rp. 49.0 billion and increased to Rp. 55.0
billion in 2010 and rose again to Rp. 62.5 billion in 2011. The operation in 2011 yielded an estimated
net profit at least Rp. 3.2 billion and the company has an estimated total
networth at Rp. 6.5 billion. It is
forecasted that total sales turnover of the company will increase at least 10%
in 2012. So far, we have never heard of
the company having been black listed by the Central Bank (Bank Indonesia). Mrs.
Ina, the export import staff of the company disclosed that the company usually
pays its debts punctually to suppliers.
The company is
led out by Mr. Muhammad jawed Shaikh (44), a businessman who experienced for
more than 10 years in the field of trading, export import and distribution of
agricultural products. We observed that
management’s reputation in said business is fairly good. The company has had wide relation in the
realm of the private businessmen inside and outside the country. Their relation
with the government is fairly good. So
far, we have never heard that the company’s management involved in a dirty business
practice or detrimental cases that settled in the country. The company’s
litigation record is clean and it has not registered with the black list of
Bank of Indonesia. P.T. PIGURA JASALINDO
is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.90 |
|
|
1 |
Rs.80.77 |
|
Euro |
1 |
Rs.67.40 |
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.