|
Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. WINALITE |
|
|
|
|
Registered Office : |
Senayan Trade Center 3rd Floor No. 168, Jalan Asia Afrika No. 8, Gelora Bung Karno Senayan, Jakarta Pusat, 10270 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
16.04.2007 |
|
|
|
|
Com. Reg. No.: |
No. AHU-06171.AH.01.02.TH.2009 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Direct Selling,
Multi Level Marketing and Distribution of Sanitary Napkins |
|
|
|
|
No. of Employees : |
160 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
P.T. WINALITE INDONESIA
Head Office
Senayan Trade
Center 3rd Floor No. 168
Jalan Asia Afrika No. 8
Gelora Bung Karno Senayan
Jakarta Pusat,
10270
Indonesia
Phones -
(62-21) 5793 1818 (Hunting)
Fax - (62-21)
Building Area - 15 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
16 April 2007
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No. W7-08097 HT.01.01.TH.2007
Dated 17 July 2007
- No. AHU-28974.AH.01.02.TH.2008
Dated 29 August 2008
- No. AHU-06171.AH.01.02.TH.2009
Dated 5 March 2009
Private National
Company
The Department of Finance
NPWP No.
02.681.656.1.077.000
The Department of Trade
SIUPL No.
03/PDN-2/SIUPL/B/1/2008
a. P.T.
CYBERWOLRD NETWORK INDONESIA (Game Center, I-Café & Cyber Edutainment
Services)
b. P.T. WINALITE INTERNATIONAL (Trading and
Export Import Services)
Capital
Structure :
Authorized
Capital : Rp.
5,000,000,000.-
Issued Capital : Rp.
2,000,000,000.-
Paid up Capital : Rp.
2,000,000,000.-
Shareholders/Owners
:
a. Mr. Drs.
Piandi -
Rp. 1,100,000,000.-
Address : Jl. Jati Block H No. 11,
RT. 006 RW. 006
Kelurahan Pondok Labu, Kecamatan Cilandak
Jakarta Selatan
Indonesia
b. Mrs. Suyati
Tandana -
Rp. 898,000,000.-
Address : Jl. Jati Block H No.
11, RT. 006 RW. 006
Kelurahan Pondok Labu, Kecamatan Cilandak
Jakarta Selatan
Indonesia
c. Ms. Stella Angela -
Rp. 2,000,000.-
Address : Jl. Jati Block H No. 11, RT. 006
RW. 006
Kelurahan Pondok Labu,
Kecamatan Cilandak
Jakarta Selatan
Indonesia
Lines of
Business :
Direct Selling,
Multi Level Marketing and Distribution of Sanitary Napkins
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
June 2007
Brand Name :
Winalite
Indonesia
Technical
Assistance :
None
Number of
Employee :
160 persons
Marketing Area
:
Local - 100%
Main Customer
:
Trader and Distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. AHAD-NET
INTERNATIONAL
b. P.T. AMWAY
INDONESIA
c. P.T. KOMPAK
INDOPOLA
d. P.T. SOPHIA
MARTIN INDONESIA
e. Etc.
Business Trend
:
Growing
Bankers :
a. P.T. Bank
CENTRAL ASIA Tbk
Menara BCA Grand Indonesia
Jalan M.H. Thamrin No. 1
Jakarta Pusat
Indonesia
b. P.T. Bank CHINA TRUST INDONESIA
Tamara Centre
Jalan Jend.
Sudirman Kav. 24
Jakarta
Selatan
Indonesia
c. P.T. Bank ICBC INDONESIA
ICBC
Tower, 32nd Floor
Jalan M.H. Thamrin No. 81
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 27.0
billion
2010 – Rp. 29.4
billion
2011 – Rp. 31.0
billion
Net Profit
(estimated) :
2009 – Rp. 1.6
billion
2010 – Rp. 1.8
billion
2011 – Rp. 2.0
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Drs. Piandi
Director -
Ms. Stella Angela
Board of Commissioners :
Commissioner -
Mrs. Suyati Tandana
Signatories :
President Director (Mr.
Drs. Piandi) or the Director (Ms. Stella Angela) which must be approved by
Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. WINALITE INDONESIA (P.T. WI) was incorporated in Jakarta based on notary deed of Mr. Desman, SH., No. 61 dated 16 April 2007 with the authorized capital of Rp. 1,000,000,000 issued capital of Rp. 500,000,000 entirely paid up. The founding and shareholders of the company are Mr. Drs. Piandi AKA Piandi Ang, his wife Mrs. Suyati Tandana and their daughter Ms. Stella Angela, they are Indonesian business family of Chinese extraction. The company notary deed had been changed a couple of times. Then according to the latest revision of notary documents of Mr. Desman, SH., No. 31 dated 15 December 2008 the company authorized capital was increased to Rp. 5,000,000,000 issued capital to Rp. 2,000,000,000 entirely paid up. With this development the composition of its shareholders has been changed to become Mr. Drs. Piandi (55%), his wife Mrs. Suyati Tandana (44.9%) and daughter Ms. Stella Angela (0.1%). The latest revision of notary documents was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-06171.AH.01.02.TH.2009 dated March 5, 2009.
P.T. WI is a private national company operating since June 2007 to be engages in the field of direct selling and multi level marketing of sanitary napkin and other health equipments. P.T. WI is a dynamic and fast growing direct selling business of sanitary napkin and medicine sanitary napkin and other health equipment products. P.T. WI comes as the company WINALITE distributor primary production of health products WINALITE INTERNATIONAL based in Guangdong China. P.T. WI products are sanitary napkins and sanitary equipments such as LOVEMOON, WINGUARD, WAISTGUARD, EYEPATH & NECKGUARD, WINBEAUTY, ANION SHOWERHEAD, ANION FAULET FILTER, ANION FLUSHER, ENERGY STONE, VINMAT brands. These products are marketed by a system of direct sales and multi level marketing to member stores and several shops, distributors and dealers spread across major cities in Indonesia.
Ms. Stella Angela, Director P.T. WI said further the whole products are marketed under by direct selling and multi level marketing. It has a wide marketing network controlling some 10,000 active distributors scattered in major cities like Jakarta, Surabaya (East Java), Bandung (West Java), Semarang (Central Java), etc. It seems that market segment of the products is middle-up class people, for it is relatively expensive. We observe the operation of P.T. WI has been growing and developing well in the last three years.
In general, the demand for direct selling and multi level marketing of sanitary napkins and sanitary equipments and other products has kept on rising despite dropped in October 2008 due to the global economic crisis battering Indonesia. But later the demand growth started to awake again in line with the amelioration of the domestic economic and political condition. The Indonesian economy has weathered the storm and is currently accelerating. As for the global economy, it is also in a recovery phase and this recovery is expected to continue in 2010. Overall, the prospects for the Indonesian economy in 2010 are brighter than in 2009. The global economic recession has exerted significant downward pressures on the Indonesia economy. In the first quarter of 2009 the economy grew by 4.4 percent, or significantly lower than in the fourth quarter of 2008 when the economy grew by 5.2 percent and lower than in the third quarter of 2008 when the economy grew by 6.4 percent.
Eventually, the impact of the fiscal and monetary stimuli on the economy could be seen. This was reflected in the brisker pace of growth in Indonesia despite the global economic recession. In the second quarter of 2009 the Indonesian economy grew by 4.0 percent, and in the third quarter of the year it grew by 4.2 percent.
The economic is expected to accelerate further in the fourth quarter of 2009. And for the whole of 2009 the Indonesian economy is expected tot grow by 4.7 percent and 6.0 percent in 2010. Several factors support brisker economic growth in 2010. First, the global economic conditions are expected to be better in 2010 than in 2009. This is evident in the global economic recover that is expected to continue well into 2010.
The US economy, for example, is expected to grow by 2.5 percent in 2010 compared to a contraction of 2.4 percent in 2009. Meanwhile, the Japanese economy is predicted to grow by around 1.2 percent in 2010 in contrast to an expected contraction of around 5.7 percent in 2009. As for Europe, it is expected to grow by 1.1 percent in 2010 compared to an expected contraction of around 3.8 percent in 2009. It is estimated that demand for analysis and testing services will keep on increasing in five years to come. The competition is very tight on account of many similar companies operating in the country. Against this backdrop, Indonesian exports are expected to grow by 12.9 percent 2010.
Indonesia’s economic growth in 2008, 2009 and forecast for 2010
|
No. |
Sector |
2008 |
2009 |
2010 |
|
1. |
Agriculture |
4.8 |
3.6 |
3.3 |
|
2. |
Mining and Quarrying |
0.5 |
3.7 |
3.7 |
|
3. |
Manufacturing |
3.7 |
2.2 |
2.2 |
|
4. |
Electricity, Gas, and Clean Water |
10.9 |
13.4 |
13.4 |
|
5. |
Construction |
7.3 |
7.1 |
7.0 |
|
6. |
Trade, Hotel, and Restaurant |
7.2 |
1.2 |
5.8 |
|
7. |
Transportation and Communication |
16.7 |
17.4 |
16.7 |
|
8. |
Finance, Leasing and Business Services |
8.2 |
5.5 |
6.3 |
|
9. |
Services |
6.4 |
6.7 |
6.9 |
|
Gross Domestic Product (GDP) |
6.1 |
4.7 |
6.0 |
|
Source: Indonesia Economic Almanac
2010 by Bisnis Indonesia
Until this time P.T. WI has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. WI 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. 27.0 billion rose to Rp. 29.4 billion in 2010 increased to Rp. 31.0 billion in 2011 and projected to go on rising by at least 4% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 2.0 billion and the company has an estimated total networth of at least Rp. 5.0 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 P.T. WI is led by Mr. Drs. Piandi AKA Piandi Ang (51)
a businessman and professional manager with experience in direct selling and
multi level marketing of sanitary napkin and sanitary equipment products. Daily
activity he is assisted by his daughter Ms. Stella Angela (27) as Director. 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.
P.T. WINALITE INDONESIA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.58 |
|
UK Pound |
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
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.