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Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
C.V. LENTERA SAMUDRA |
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|
|
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Registered Office : |
Jalan Puri Anjasmoro P-5 No. 10, Semarang,
50144, Central Java |
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Country : |
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Date of Incorporation : |
August 2011 |
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|
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Partnership with Sleeping Partner |
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Line of Business : |
Trading, Export
Import Services |
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No. of Employees : |
05 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
C.V. LENTERA SAMUDRA
Head Office
Jalan Puri Anjasmoro P-5 No. 10
Semarang, 50144
Central Java
Indonesia
Phone - (62-24) 760 6768
Fax - (62-24) 760 6768
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
August 2011
C.V.
(Commanditaire Vennootschap) or Partnership with Sleeping Partner
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
Shareholders/Owners
:
a. Mr. Rahadi Eka Widyantoro (Active Partner)
b. Mr. Agus Widyanto (Silent Partner)
Lines of
Business :
Trading, Export
Import Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
August 2011
Brand Name :
Lentera Samudra
Technical
Assistance :
None
Number of
Employee :
5 persons
Marketing Area
:
Local - 100%
Main Customer
:
Trader and Shops
Market
Situation :
Very Competitive
Main
Competitors :
a. C.V. BINTANG
TIMUR
b. C.V. CHANDRA
ABADI
c. C.V. PELANGI
d. C.V. SEMARANG PERKASA, Etc
Business Trend
:
Growing
Banker :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Anjasmoro Raya Ruko Block F1 No. 3-5
Semarang, Central Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 1.2
billion
Net Profit
(estimated) :
2011 – Rp. 0.1
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Rahadi Eka
Widyantoro
Board of Commissioners :
Commissioner -
Mr. Agus Widanto
Signatories :
Director (Mr. Rahadi Eka
Widyantoro) is the authorized person to sign the loan on behalf of the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Proposed
Credit Limit :
Small amount –
periodical review
C.V. LENTERA SAMUDRA (C.V. LS) was established in Semarang, Central
Java in August 2011’s with the legal status of C.V. (Commanditaire
Vennootschap) or Partnership with Sleeping Partner. The founding and owners of
the company are Mr. Rahadi Eka Widyantoro as active partner and Mr. Agus
Widyanto as silent partner. As in common in cases of companies with C.V.
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.
C.V. LS is a private national company dealing with trading, export import and distribution services. In its activity the company imports of electronic component products, toys, component, equipment and tools for industrial and shoes. Mr. Rahadi Eka Widyantoro, Director and owner of the company explained the company has imports of hydraulic equipment component and tolls from South Korea and China; toys of South Korea and China and also imports of shoes from China. Then the whole like electronic equipment and pars, hydraulic equipment and components products marketed to various industries in Semarang, Central Java. Meanwhile the other products namely toys and shoes marketed locally through dealer and shops in Semarang, Central Java. Besides, according information fro Mr. Rahadi Eka Widyantoro also added, the company will also expanding its activity in trading and distribution of food raw materials, food ingredients and also agricultural products. In the next, the company will be imports of food ingredient, chemical raw materials and others from China and India. We observe that C.V. LS is a small size company of its kinds which operation jus new commenced in operating in the last one year.
The domestic demand for various types of chemical products had been
rising by 8% to 10% on the average per annum in the last five years in line
with the rapid growth of various industrial sectors including paint industry,
plastic, ink, textile, rubber, printing and others in the above period of times
as the consumers. But, later dwindled as the global economic slowdown since
October 2008, followed by tight money policy imposed by Indonesian Central Bank
(Bank Indonesia) and also heated by political issue in the country. The demand
growth started to awake in June 2009 in line with the amelioration of economic
condition in the country. Market
competition is very tough on account of large number of other similar companies
operating in the country.
Imports of Raw Materials
and Auxiliary Goods, 2004-2010
|
Year |
Food and Beverages Mainly for
Industry (Million US$) |
Raw Materials for Industry (Million US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2004 |
1,456.7 |
568,6 |
2,236.3 |
15,357.8 |
|
|
2005 |
1,325.3 |
830,4 |
2,064.0 |
17,407.0 |
|
|
2006 |
1,352.2 |
909,1 |
2,438.7 |
18,050.7 |
|
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
|
|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
|
|
2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
|
|
2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
|
Source: Central Bureau of Statistic (BPS)
Until this time C.V. LS has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of C.V. LS 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 August to December 2011 amounted to Rp. 1.2 billion projected to go on rising by at least 4% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 0.1 billion 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 C.V. LS is led by Mr. Rahadi Eka
Widyantoro (45) a businessman and professional manager with experience in
trading, import and distribution services. 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. C.V. LENTERA SAMUDRA is sufficiently fairly good for
business transaction. However, in view of the company just new in commenced
operation we recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
UK Pound |
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
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 |
|
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.