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Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
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Name : |
C.V. MITRA INVESTAMA |
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Registered Office : |
Gedung Putera 7th
Floor, Jalan Gunung Sahari Raya No. 39, |
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Country : |
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Date of Incorporation : |
1997 |
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Legal Form : |
Private
National Company |
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Line of Business : |
Trading, Import
and Distribution of Marble and Granite Slabs |
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No. of Employees : |
8 Persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Name of
Company :
C.V. MITRA
INVESTAMA
A d d r e s s
:
Head Office
Gedung Putera 7th
Floor
Jalan Gunung Sahari Raya No. 39
Jakarta Pusat,
10610
Indonesia
Phone -
(62-21) 6293403
Fax - (62-21) 6293403
E-mail - finemitra@yahoo.co.id
Building Area - 7 storey
Office Space - 40 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
1997’s
Legal Form :
C.V.
(Commandiatire Vennootschap) or partnership with sleeping partner
Company Reg.
No. :
The Ministry of Law and Human Rights
Not Required
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
Capital
Structure :
Owned Capital : Rp. 1.0
billion
Owners :
a. Mr. Sugianto (Active Partner)
b. Mrs. Sugianto’s wife (Silent Partner)
Lines of
Business :
Trading, Import
and Distribution of Marble and Granite Slabs
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1997’s
Brand Name :
Mitra Investama
Technical
Assistance :
None
Number of
Employee :
8 persons
Marketing Area
:
Local - 100%
Main Customer
:
Marble and
Granite Industry and Marble Shops and Retails
Market
Situation :
Very Competitive
Main
Competitors :
a. ADI DAYA PRIMA
b. ALAM MARMERINDO
c. P.T. GUNUNG MARMER RAYA
d. P.T. MARBINDO, Etc
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Gunung Sahari Raya No. 2
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 3.8
billion
2010 – Rp. 4.2
billion
2011 – Rp. 4.5
billion
Net Profit
(estimated) :
2009 – Rp. 0.2
billion
2010 – Rp. 0.3
billion
2011 – Rp. 0.4
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Sugianto
Board of Commissioners :
None
Signatories :
Director (Mr. Sugianto) in 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
C.V. MITRA
INVESTAMA (C.V. MI) was established in Jakarta in 1997 with a legal status of
C.V. Commanditaire Vennootschap or partnership with sleeping partner. Founders
and owner of the company are Mr. Sugianto as silent partner and his wife as
silent partner. They are Indonesian business family of Chinese extraction.
Being as Commanditaire Vennootschap (C.V), the amount of its authorized capital
was not mentioned at the time of its establishment. In our estimate, the
company has own capital of about Rp. 1.0 billion and it will be rising in line
with the progress of its business operation.
C.V. MI is a
private national company dealing with trading, import and distribution of
marble and granite slabs. Based on investigation the company address located at
Gedung Putera 7th Floor, Jalan Gunung Sahari Raya No. 39, Central
Jakarta. According information from the building management the company had
been placed this building since 2005 and always pay the rent on time. Based on
investigation results the company import of marble and granite slabs from
India, China and other countries. Then the whole products supplied to various
marble and granite industries which operating in Jakarta, Tangerang, Cikarang
and other cities in West Java. Mr. Sugianto also added the company is able to
import of various component and spare parts for industries based on job order
basis from the customers. We observe that C.V. MI is classified a small size
company of its kinds which operation has been growing with slowly in the last
three years.
In overall views
we find the demand for marble, ceramic tiles, sanitary wares and the like had
been rising by 10% to 12% per year in the last five years, in line with the
rapid growth of property sector like hotel, apartment, real-estate, office
building, etc. Its projected the demand for ceramic tile will be rising in the
last five years. While competition, is very tight due to a large number of
similar companies operating in the country.
The global
economic crisis battering the country since October 2008 followed by the sharp
Rupiah depreciation against US$, Japan Yen, EUR and other hard foreign
currencies has brought bad impact to the property and constructing businesses
such as the development of housings, real estates, office buildings, shopping buildings,
apartments and others.
Until this time
C.V. MI has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of C.V. MI is very reclusive towards
outsiders and rejected to disclose its financial condition. We observed
that total sales turnover of the company in 2009 amounted to Rp. 3.8 billion
rose to Rp. 4.2 billion in 2010 increased to Rp. 4.5 billion in 2011 and
projected to go on rising by at least 4% in 2011. The operation in 2011 yielded
an estimated net profit of at least Rp. 0.4 billion and the company has an
estimated total net worth of at least Rp. 1.0 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. MI is headed by Mr. Sugianto (48) a businessman with experience more
than 15 years in trading, import and distribution of marble and granite slabs.
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. We appraised C.V. MITRA INVESTAMA is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.