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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
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Name : |
K. LILARAM JAYA |
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Registered Office : |
Jl. Slompretan No. 111-113, |
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Country : |
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Date of Incorporation : |
1990 |
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Legal Form : |
Sole Proprietary Company |
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Line of Business : |
Trading and Distribution of Textile Products |
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No. of Employees : |
12 persons |
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 – September 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
K. LILARAM JAYA
Head Office
Jl. Slompretan No. 111-113
Surabaya 60161
East Java
Indonesia
Phone -
(62-31) 3552484, 3521358, 3523482, 3528531
Fax - (62-31) 3534470
Building Area - 3 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Owned
Date of
Incorporation :
1990’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. 1.5 billion
Owner :
Mr. Kishinchand Lilaram -
100%
Lines of Business :
Trading and Distribution of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1990
Brand Name :
K. Lilaram Jaya
Technical Assistance :
None
Number of Employee :
12 persons
Marketing Area :
Locals - 100%
Main Customers :
a. Corporate and Individuals
b. Textile Shops in Surabaya and its surroundings
c. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. Toko Kain Anugerah
b. Toko Timor Jaya
c. Toko Citra Busana
d. Toko Indah Serasi
e. Toko Sutra Lestari
f. Toko Cantik Nian
g. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Veteran No. 18-24
Surabaya, East Java
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Basuki Rachmat No. 129-131
Surabaya, East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2009 – Rp .29.0 billion
2010 – Rp. 32.3 billion
2011 – Rp. 36.5 billion
Net Profit (estimated) :
2009 – Rp. 1.4 billion
2010 – Rp. 1.6 billion
2011 – Rp. 1.8 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. K. Lilaram
Sales Manager - Mr. Prakash
Board of Commissioners :
None
Signatories :
Director (Mr. K. Lilaram) 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
K. LILARAM JAYA or Toko K. LILARAM JAYA was incorporated in Surabaya,
East Java in 1990’s with the status of Sole Proprietary Company. The company
was founded by Mr. Kishinchand Lilaram AKA K. Lilaram, an Indonesian
businessman of Indian 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. 1.5 billion.
But we have strong reason to believe that the capital invested in the
company is now much bigger.
K. LILARAM JAYA is a private company dealing with trading and
distribution of textile products. Mr. Prakash, a sales manager of the company
explained that K. LILARAM JAYA sells various textile products such as silk,
cotton, 100% polyester fabric for ladies wear, cotton carded, rayon, cotton
combed, TC combed and others. The
products are imported from Singapore, China, Japan, Hong Kong and others. The whole
product are sold and supplied to corporate and individuals and textile shops
and dealers in Surabaya (East Java) and it surroundings. We notice that K. LILARAM JAYA is a
classified as a large 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 textile products has been rising by
the average 7% to 8% per year within the last five years in line with the
growth of supermarkets, hypermarkets 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 5% to 6% per year. Market
competition is very tight due to a large number of similar companies operating
in the country.
Until this time K. LILARAM JAYA has not been registered with Indonesian
Stock Exchange, so that they shall not obliged to announce their financial
statement. The management of K. LILARAM JAYA 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. 29.0 billion
increased to Rp. 32.3 billion in 2010 and rose again to Rp. 36.5 billion in
2011 and projected to go on rising by at
least 8% in 2012. The operation in 2011
yielded an estimated net profit at least Rp. 1.8 billion and the company has an
estimated total networth at Rp. 5.0 billion.
So far, we did not heard that the company having been black listed by
the Central Bank (Bank Indonesia).
The management of K. LILARAM JAYA is led by Mr. K. Lilaram (53) a
businessman with more than about 20 years experience in trading and
distribution of textile products especially silk, cotton and 100% polyester
fabrics for ladies. In daily activities
he is assisted by Mr. Prakash (35) as marketing manger. 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.
K. LILARAM JAYA is appraised to be good for business transaction.
However, in view of the unstable political and 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.53.23 |
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|
1 |
Rs.86.14 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
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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.