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Report Date : |
26.05.2012 |
IDENTIFICATION DETAILS
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Name : |
C.V. DEMPO PUTRA PERKASA |
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Registered Office : |
Jl. Raya Morowudi Kulon No. 123C, Gresik 61171, East Java |
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Country : |
Indonesia |
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Date of Incorporation : |
12.04.2010 |
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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 : |
Ship Repairing
Services and Heavy Equipment Rental |
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No. of Employees : |
08 |
RATING & COMMENTS
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
C.V. DEMPO PUTRA PERKASA
Head Office
Jl. Raya Morowudi Kulon No. 123C
Gresik 61171
East Java
Indonesia
Phone -
(62-31) 71670533, 83347656
Fax - (62-31) 71670533
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
12 April 2010
C.V. (Commanditaire Vennootschap) or Partnership with Sleeping Partner
The Ministry of Law and Human Rights
Not Required
National Private
Company
The Department of Finance
Not Available
None
Capital
Structure :
Owned Capital - Rp. 300
million
Shareholders/Owners
:
a. Mr. Gundar Sumarsono (Active Partner)
b. Mr. Sugito (Silent Partner)
Lines of
Business :
Ship Repairing
Services and Heavy Equipment Rental
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
June 2010
Brand Name :
Dempo Putra
Perkasa
Technical
Assistance :
None
Number of
Employee :
8 persons
Marketing Area
:
Local - 100%
Main
Customers:
Fisherman and
contracting companies
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ASL
MARINA SHIPYARD
b. P.T. TUNAS KARYA BAHARI
c. P.T. BATAMEC SHIPYARD
d. P.T. CAHAYA SAMUDRA SHIPYARD, etc.
Business Trend
:
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. RA
Kartini 98-B-100
Gresik 61122,
East Java
Indonesia
b. P.T.
Bank NEGARA INDONESIA Tbk
Jl. Veteran No. 142
Gresik, East
Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Total Income/Revenue
(estimated) :
2010 – Rp. 2.6
billion (June – December)
2011 – Rp. 4.8
billion
Net Profit
(estimated) :
2010 – Rp. 155
million (June – December)
2011 – Rp. 280
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Gundar Sumarsono
Marketing Manager -
Mr. Hermawan
Board of Commissioners :
Commissioner -
Mr. Sugito
Signatories :
Director (Mr. Gundar
Sumarsono) is 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. DEMPO PUTRA PERKASA (C.V. DPP) was established in
Gresik, East Java in April 2010’s with the legal status of C.V. (Commanditaire
Vennootschap) or Partnership with Sleeping Partner. The founding and owners of
the company are Mr. Gundar Sumarsono as active partner and Mr. Sugito 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. 300 million.
C.V. DPP is a private national company dealing with ship and heavy equipment repairing services and heavy equipment rental. Mr. Hermawan, a sales manager of the company explained that C.V. DPP have been operation since June 2010 and the company repairs of various ships such as tug boat, barge and heavy equipment repairing such as excavator, dozer, generating sets, etc. The company has ever received orders for reparation of ship machine and heavy equipment from shipping companies and construction companies in Surabaya, Gresik, Jember and its surroundings in East Java. We observed that C.V. DPP is classified as a small sized company of its kind in the country of which the operation has been growing in the last two years.
The demand for ship and heavy equipment repairing and maintenance has kept on rising in the last ten years in line with the growth of marine industries, mining industries and infrastructure project in the country. The demand growth is estimated to go on rising within the next three years despite the Indonesian global economic crisis since October 2008. 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 7% per year. Market competition is very tight due to a large number of similar companies operating in the country. We consider C.V. DPP to be in a quite favorable position for having already got hold of a steady clientele in the country.
Until this time C.V. DPP has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of C.V. DPP is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total income/revenue of the company in the first year operation June to December 2010 amounted to Rp. 2.6 billion increased to Rp. 4.8 billion in 2011 and projected to go on rising by at least 8% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 280 million and the company has an estimated total net worth of at least Rp. 800 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. DPP is led by Mr. Gundar Sumarsono (45) a businessman who experienced for more than 10 years in ship machine and heavy equipment repairing and maintenance 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.
Since this company (C.V. DPP) just about two years in operation commercially, so we recommend caution when going to provide fresh loans to them. Or it should obtain sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.73 |
|
UK Pound |
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.84 |
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 |
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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 |
|
<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.