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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. CIPTA WIRASANA SEMPURNA |
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Registered Office : |
c/o Jalan Krekot Jaya Molek Blok AD No. 16 Central Jakarta |
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Country : |
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Date of Incorporation : |
02.06.2004 |
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Com. Reg. No.: |
No. AHU-04582.AH.01.02.Tahun 2012 |
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Legal Form : |
P.T. (Perseroan Terbatas)
or Limited Liability Company |
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Line of Business : |
General Trading and Stevedoring Services |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Company is Inactive |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Indonesia - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, grew an estimated 6.1% and 6.4% in 2010 and 2011, respectively. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a small current account surplus, a fiscal deficit below 2%, and historically low rates of inflation. Fitch and Moody's upgraded Indonesia's credit rating to investment grade in December 2011. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the ongoing challenge of improving Indonesia's insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of rising oil prices.
|
Source : CIA |
P.T. CIPTA WIRASANA SEMPURNA
A d d r e s s :
Head Office
c/o Jalan Krekot Jaya Molek Blok AD No. 16
Central Jakarta
Indonesia
Phones - (62-21) 351 7135
Fax. - (62-21) 90278688
Building Area - 2 storey
Office Space - 90 sq. meters
Region - Commercial
Status - Sold
Date of
Incorporation :
02 July 2004
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Law of Law and
Human Rights
a. No. C-17453 HT.01.01.TH.2005
Dated 23 July 2005
b. No. AHU-77880.AH.01.02.Tahun 2008
Dated 14 March 2008
c. No. AHU-04582.AH.01.02.Tahun 2012
Dated 27 January 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 02.344.286.6-032.000
Related Company :
Not available
Capital Structure :
Authorized Capital
- Rp. 1,200,000,000.-
Issued Capital - Rp. 600,000,000.-
Paid up Capital - Rp. 600,000,000.-
Shareholders/Owners :
a. Mr. Bagus
Supriatno - Rp.
300,000,000.- (50%)
Address : Jl. Kesehatan II No. 16
Bintaro Pesanggrahan
South Jakarta
Indonesia
b. Mr. Antonius Jamitko -
Rp. 300,000,000.- (50%)
Address : Jl. Angsana Dalam No. 16
Kebon Jeruk
West Jakarta
Indonesia
Lines of Business
:
General Trading and Stevedoring Services
Production
Capacity :
None
Total Investment :
None
Started Operation :
2004 but, the
company has been inactive since February 2012
Technical Assistance :
None
Number of Employee :
None
Marketing Area :
No Comment
Market Situation :
Very Competitive
Business Trend :
No Comment
B a n k e r s :
No Comment
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Net Sales/Revenue :
No Comment
Net Profit (Loss)
:
No Comment
Payment Manner :
No Comment
Financial Comments :
No Comment
Board of Management :
Director - Mr. Bagus Supriatno
Board of Commissioner :
Commissioner - Mr. Antonius Jamitko
Signatories :
Director (Mr. Bagus Supriatno) which must
be approved by Board of Commissioner (Mr. Antonius Jamitko)
Management Capability :
Weak
Business Morality :
Doubted
Credit Risk :
High
Credit Recommendation :
Credit is not recommended
Proposed Credit Limit :
C.O.D.
P.T. CIPTA
WIRASANA SEMPURNA (P.T. CWS) was established in Jakarta on June 23, 2005 with
an authorized capital of Rp. 1,200,000,000.- of which Rp. 510,000,000.- was issued and fully paid up. The founding
shareholders of the company were Mr. Zainal Arifin (50%) and Mr. Muslih (50%),
both are indigenous businessmen. The
Article of Association was made by Mutiara Hartanto, SH., a notary in Jakarta
and it has been approved by the Minister of Law and Human Rights through
Decision Letter No. C-17453.HT.01.01.TH.2005 dated June 23, 2005.
The Company’s
article of association has been amended for several times, most recently by
notarial deed of Mutiara Hartanto, SH., No. 12 dated January 16, 2012, the
issued capital was raised from Rp. 510,000,000 to Rp. 600,000,000.- and fully
paid up. Since the time, shareholders of the company are Mr. Bagus Supriatno
(50%) and Mr. Antonius Jamitko (50%), both also indigenous businessmen. The
amendment to Articles of Association has been approved by the Ministry of Law
and Human Right through Decision Letter No. AHU-04582.AH.01.02.Tahun 2012 dated
January 24, 2012. No changes have been
effected in term of its shareholding composition and capital structures to
date.
Pursuant to the
company’s notary deed, P.T. CWS engaged to operate in general trading,
development, industry, agriculture, transportation and services. The Company’s registered office located at
Jl. Krekot Jaya, Central Jakarta and the company can open branch offices or
representative offices at home and abroad.
According to the results of our investigation we noticed that previously
P.T. CWS was engaged in
stevedoring services and general trading such as fresh fruits, food and
beverages. The company’s office is located at
Jalan Krekot Jaya Molek Blok AD No. 16,
Central Jakarta. Ms. Liana, the former a marketing staff of P.T. CWS, when reached by phone said
that PT CWS has not been in
operation since early 2012 (lockout) and all of its
employees have
also been dismissed. She also did not know why the company was shutdown. However it is likely
that operations
did not go
smoothly and
continuously suffered
losses.
According to Ms. Liana, that land and building office owned by P.T. CWS has been sold to another company.
Furthermore we have checked to the Department of Law and Human Rights (DLHR) to ensure that whether
the PT CWS has been liquidated. But our source
at DLHR said that until now there is no notice from the
shareholders of PT CWS concerning the shutdown of the company. According to our source in DLHR, that in Indonesia there are many
companies that
not actively operate or shut down, but never reported their case to DLHR. This is generally done by these
companies, to avoid payment of taxes and duties.
We have a strong suspicion that P.T. CWS
has been abandoned by its shareholders. Company's financial strength was only
Rp. 600 million which was paid capital as contained in its notary deed. But we strongly suspect that the capital had been
spent and the currently PT CWS does not have any assets.
In its last notary deed, P.T. CWS was chaired
by Mr. Bagus Supriatno (34) as director
and assisted by Mr. Antonius Jamitko (37) as commissioner. Their reputation in stevedoring services and trading
is also not prominent. In addition they
were also not who bona fide or credible businessmen. We strongly suspect that the management
company has been dissolved, but was not reported to the Department of Law and
Human Rights.
We therefore recommend to be very careful when doing business partnership with this company. We recommend to cancel the business transaction plan that was prepared for this company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
|
1 |
Rs.87.49 |
|
Euro |
1 |
Rs.70.15 |
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 |
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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.