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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
P.T. SHOPIE |
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Formerly Known As : |
P.T. SOPHIE
MARTIN |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14.08.1995 |
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Com. Reg. No.: |
No. AHU-AH.01.10-42908 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading and Distribution of
Fashion Products |
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No. of Employees : |
120 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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Source : CIA |
P.T. SHOPIE
Head Office
Jl. Adyaksa Raya No. 33
Lebak Bulus
Jakarta Selatan 12440
Indonesia
Phones -
(62-21) 7591 5262 (hunting)
Fax. - (62-21) 7591 3667
Email - sophie@rad.net.id
Building Area - 7 storey
Office Spare - 820 sq. meters
Region - Commercial
Status - Owned
a. 14 August 1995
as P.T. USAHA SWAKARYA SATYA
b. 18 March 2005 as
P.T. SOPHIE MARTIN INDONESIA
c. 13 December
2011 as P.T. SOPHIE PARIS INDONESIA
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Laws and Human Rights
a. No.
AHU-36423.AH.01.02.Tahun 2008
Dated 27 June 2008
b. No. AHU-63230.AH.01.02.Tahun 2011
Dated 21 December
2011
c. No. AHU-AH.01.10-42908
Dated 30 December
2011
Foreign Investment Company
(PMA)
a. The Department of Finance
NPWP No. 01.745.202.0-062.000
b. The Capital Investment Coordinating
Board
No. 69/V/PMA/2008
Dated 26 April
2008
P.T. MAHE INVESTAMA (Investment Holding)
a. P.T. KARYA PROPERTINDO INVESTAMA (Property Development)
b. SOPHIE MARTINE TRADE AND INVESTMENT Ltd., (Investment
Holding)
c. INTERNATIONAL PROPERTY INVESTMENT LIMITED (Investment
Holding)
Capital Structure :
Authorized
Capital - Rp. 10,215,100,000.-
Issued
Capital - Rp. 10,215,100,000.-
Paid
up Capital - Rp. 10,215,100,000.-
Shareholders/Owners
:
a. P.T. MAHE INVESTAMA - Rp. 9,705,100,000.-
(95.0%)
Address: Gedung Hero II, 9th
Floor
Jl. Jend. Gatot Subroto Kav.
64
Tebet, Jakarta Selatan
b. SOPHIE MARTIN TRADE AND INVESMENT Ltd. - Rp.
500,000,000.- ( 4.9%)
Address: 303 Aart Chambers,
Seychelles, France
c. MR. SUPARMIN -
Rp. 10,000,000.- ( 0.1%)
Address: Jl.
Talas II, RT.04/RW.01
Pemulang, Tangerang
Banten Province
Lines of Business :
Trading and Distribution of
Fashion Products
Production Capacity :
None
Total Investment :
Equity
Capital - Rp. 10.2 billion
Started Operation :
1995
Brand Name :
SOPHIE PARIS
Technical Assistance :
None
Number of Employee :
120 persons
Marketing Area :
Local
(Domestic) - 90%
Export - 10%
Main
Customers :
Publics
Market Situation :
Very Competitive
Main
Competitors :
a. PT. Indo
Elizabeth Permai
b. PT. Daeyoung
Dunia Subur Indonesia
c. PT. Huda Rachma Grupindo
d. PT. Eksonindo
Multi Product Industry
e. PT. Continental
Panji Pratama
f. Etc
Business Trend :
Growing
Bankers :
a. P.T. Bank MANDIRI
Tbk
Mandiri Plaza
Jl. Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
b. P.T. Bank CENTRAL
ASIA Tbk
Menara BCA
Jl. M.H. Thamrin
no. 1
Jakarta Pusat
c. P.T. Bank OCBC
NISP Tbk
OCBC NISP Tower
Jl. Prof. Dr. Satrio Kav. 25
Jakarta Selatan
Auditor :
Internal Auditor
Litigation :
No detrimental filling in our database
Total
Sales/Income (estimated) :
2008 – Rp. 500.0 billion
2009 – Rp. 690.0 billion
2010 – Rp. 720.0 billion
2011 – Rp. 880.0 billion
Net Profit (estimated) :
2008 – Rp. 69.0
billion
2009 – Rp. 95.8
billion
2010 – Rp. 100.0 billion
2011 – Rp. 122.0 billion
Payment Manner :
Almost promptly
Financial Comments :
Fairly good
Board of Management :
President Director - Mr. Bruno Antoine
Elie Hasson AKA Bruno Hasson
Directors - a.
Mr. Benjamin Francois Xavier Andres
b. Mr. Thibault Marc Markie Guislain Menager
Board of Commissioners :
President Commissioner - Mr. Marc Franck Stefanetti
Commissioner - Mr. Suparmin
Signatories :
President Director (Mr. Bruno Antoine Elie Hasson AKA Bruno
Hasson) or one of Directors (Mr. Benjamin Francois Xavier Andres and Mr.
Thibault Marc Marie Guislain Menager) which must be approved by Board of
Commissioner (Mr. Marc Franck Stefanetti)
Management Capability :
Good
Business Morality :
Good
Initially named
P.T. USAHA SWAKARYA SATYA, it was established in August 1995 with the authorized
capital of Rp. 20,000,000 of which Rp. 5,000,000 was issued and fully paid up.
The founding shareholders of the company are Mr. Gunadi Gautama (98%) and Mrs.
Laksmi Djuwita (2%). The articles of association of the company have frequently
been revised. In mid 1999 the authorized capital was raised to Rp.
1,500,000,000 entirely issued and paid up and concurrently whole shares of the
company are controlled by P.T. PRIWAT JASARAYA and P.T. NOMINDOJASA RAYA, both
are private companies. In March 2005, the company renamed to P.T. SOPHIE MARTIN
INDONESIA of which the shares are controlled by P.T. MAHE INVESTAMA (99.99%)
and Mr. Suparmin (0.01%).
In April 2008, the authorized capital was raised to Rp. 10,215,100,000.- entirely was issued and fully paid up. Since the time, the shareholders of the company are P.T. MAHE INVESTAMA of Indonesia (95.1%) and SOPHIE MARTIN TRADE AND INVESTMENT Ltd., of France (4.9%). The amendment to articles of association was made by Evawani Alissa Chairil Anwar, SH., a notary in Jakarta and it has been approved by the Minister of Law and Human Rights through Decision Letter No. AHU-36423.AH.01.02.Tahun 2008 dated June 27, 2008. In December 2011, the company renamed again to P.T. SOPHIE PARIS INDONESIA (P.T. SPI) and the shareholders of the company are P.T. MAHE INVESTAMA of Indonesia (95.0%), SOPHIE MARTIN TRADE AND INVESTMENT Ltd., of Seychelles (4.9%) and Mr. Suparmin (0.1%). The latest amendment to articles of association was made by Evawani Alissa Chairil Anwar, SH., a notary in Jakarta and it has been approved by the Minister of Law and Human Rights through Decision Letter No. AHU-63230.AH.01.02.Tahun 2011 dated December 21, 2011 and No. AHU-AH.01.10-42908 dated December 30, 2011. No changes have been effected in term of its shareholding composition and capital structures to date.
Pursuant to the deed of notary of the company, the shareholders of P.T. MAHE INDONESIA are SOPHIE MARTIN TRADE AND INVESTMENT Ltd., (85%) and Mr. Suparmin (15%). We are extremely difficult to trace or investigate the shareholders of SOPHIE MARTIN TRADE AND INVESTMENT Ltd., as this company is incorporated under law of the Republic of Seychelles. But we allege or estimate that the owners of this company are Mr. Bruno Antoine Alie Hasson AKA Bruno Hasson and his wife Mrs. Sophie Francois Henriette Martin AKA Sophie Martin. We suspect that Mr. Bruno Hasson is also the majority business stake owners of P.T. KARYA PROPERTINDO INVESTAMA is engaged in property management and development, and INTERNATIONAL PROPERTY INVESTMENT Ltd., a foreign company is incorporated under law of the Republic of Seychelles.
Initially the company was engaged in general trading like selling iron pipes, fittings factories, insemination equipment (mating injection) for cows up to sell the pack test to detect pregnancy in humans. His business had been started since 1995. After operating for a few months, apparently his business was not profitable. A year later, the company transferred its activities in the field of trade fashion apparels for women, especially women's handbags and wallets, with "Sophie Martin", trade mark, taken from his wife name Mrs. Sophie Martin, a talented designer of ladies handbags. Despite imaging of import brand, in fact all the products of ladies’ bags and accessories of Sophie Martin "genuine locally made, but most of the raw materials were imported from China. Furthermore, these bags were sold in some department stores such as Sogo and Metro.
Because the proceeds of sales were less satisfactory, the company finally decided to
sell with the system
of Multi Level Marketing (MLM),
by hiring about 40
daily salespeople . The economic crisis
in Indonesia in 1997/1998, bringing blessing to
the business of this company. A
sharp depreciation of the rupiah against
the rupiah, causing prices of imported goods including fashion products soared.
And so was the market interest declined
rapidly as pressed by purchasing
power continues to weaken.
While the product
prices of Sophie Martin
was still affordable for most consumers, as most devotees
were members of his MLM which were motivated to increase their income when the economy was
sick. In times of economic crisis,
it turned out the company achieved turnover was
increased folds because the price was cheap. The average Sophie
Martin’s purse products priced at Rp. 100 thousand each. For members,
they got a discount of 30%, or only paid
Rp. 70 thousand.
In 2008, Sophie Martin trademark began to change into the "Sophie Paris" in order to get the France image of prestigious and modern. They remained using the MLM marketing system and marketed its products through a catalog, published every two months. Currently, there are about 1.8 million registered members and 320 MLM Business Center. But of that number about 120,000 are active members with an average recruitment of new members as many as 250 people per day. Additionally Sophie Paris products also have advertisements on television and open a store of Sophie Paris in the mall. Currently there are about 40 such outlets in several Sophie Paris mentioned in some Malls in Indonesia. The presence of Sophie Paris at Mall accounted for 40% of total company revenue.
Besides the domestic market, Sophie Paris products also have been exported to the Philippines, Vietnam and Morocco. During this time, all Sophie Paris fashion products manufactured at other companies. According to the plan, P.T. SPI is considering to build its own plant.
Until this time P.T. SPI Indonesia has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. SPI is very reclusive towards outsiders and rejected to disclose its financial condition. However, we estimated that the sales turnover of the company in 2009 amounted to Rp. 690.0 billion went up to Rp. 720.0 billion in 2010 and rose again to Rp. 880.0 billion in 2011. The operation of the company in 2011 is estimated to have gained a profit of at least Rp. 122.0 billion with estimated total assets of at least Rp. 120.0 billion. It is projected that total sales turnover of the company will increase at least 12% in 2012. So far, we did not hear that the company has been black listed by Bank Indonesia (Central Bank). The punctual payment habit of the company ranging from 1 to 3 months is running smoothly.
Originally, the management of P.T. SPI is headed by Mr. Bruno Antoine Elie Hasson AKA Bruno Hasson (46), as President Director. He graduated from Institute Superieur des Techniques d’Outre-Mer (ISTOM), a French government agricultural institute. In his daily activities, he is assisted by Mr. Benjamin Francois Xavier Andres (37) and Mr. Thibault Marc Markie guislain Menager (47), both are as directors. The President Commissioner of the company is Mr. Marc Franck Stefanetti (47) and Mr. Suparmin (61) as commissioner. P.T. SPI is also supported by professional experts having wide relation with private businessmen of home and overseas as well as with government sector. So far we have never heard that the board of directors and commissioners of the company involved in business malpractices or detrimental cases that settled through the court. Their litigation record is clean and they have never involved in civil or criminal cases or politics in the country. They are not in bankruptcy condition as their business is running well.
We are convinced that P.T. SOPHIE PARIS INDONESIA is sufficiently fairly
good for normal business transaction.
However, in view of the unstable economic condition in the country, we
recommend to treat prudently in business transaction and in extending a loan to
the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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NB |
New Business |
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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.