|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. WAHONO REJEKI DINAMIKA |
|
|
|
|
Registered Office : |
Jalan Baliwerti No. 25, Surabaya, 60174, East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
1979 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-50249.AH.01.02.TH.2009 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
General Trading and Distribution
of Gypsum Casting Plaster, Read Lead Oxide, Sodium Chlorides, Tri Ethanol
Amine, Calcium Carbonate, etc. |
|
|
|
|
No. of Employees : |
72 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. WAHONO REJEKI DINAMIKA
A d d r e s s :
Head Office
Jalan Baliwerti No. 25
Phones - (62-31) 5456000, 5468731
Fax -
(62-31) 5462551
Email - wahono@server.indo.net.id
Building Area - 4 storey
Office Space - 260 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
a. In 1979 as U.D. SAMA JAYA
b. 18 April 1985 as P.T. WAHONO REJEKI
DINAMIKA
Legal Form :
P.T. (Perseroan Terbatas) or
Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C2-5893.HT.01.01.TH.85
Dated
19 September 1985
- No.
C-08958.ht.01.04.TH.2001
Dated
21 September 2001
- No.
AHU-50249.AH.01.02.TH.2009
Dated
16 October 2009
Company Status :
Private National Company
Permit by the Government Department :
The Department of Finance
NPWP No. 01.232.091.7-614.000
The Department of Trade
SIUP No. 3011/B/KP/13/V/1985
Dated 15 May 1985
Related
Companies :
a. P.T. ARISTA ARTISTIKA (Trading
of Furniture Products)
b. P.T. WAHANA CIPTA KENCANA
(General Trading)
Capital Structure :
Authorized Capital : Rp. 1,200,000,000.-
Issued Capital : Rp. 300,000,000.-
Paid up Capital : Rp. 300,000,000.-
Shareholders/Owners :
a. Mr. Sunjoto
Wahono -
Rp. 150,000,000.-
Address : Jl. Mawar No. 48
b. Mr.
Munandar Wahono -
Rp. 105,000,000.-
Address : Jl. Mawar No. 48
c. Mrs. Indah
Sutjiati Wahono -
Rp. 45,000,000.-
Address : Jl. Manyar Tirtomoyo 4/32
Lines of Business :
General Trading and Distribution
of Gypsum Casting Plaster, Read Lead Oxide, Sodium Chlorides, Tri Ethanol
Amine, Calcium Carbonate, etc.
Sole Agent of
:
a. CSR Gypsum Casting Plaster of
b. CHEMSON Read Lead Oxide of
c. DEGUSSA Sodium Chlorides of
d. MITSUI Tri Ethanol Amine of
e. P.T. OMYA
Production Capacity :
None
Total Investment :
None
Started Operation :
1979 when it was named UD SAMA
JAYA
Brand Name :
Wahono Rejeki Dinamika
Technical Assistance :
None
Number of Employee :
72 persons
Marketing Area :
Local - 100%
Main Customer :
a. Chemical and Building Material
Shops in East
b. Industrial Chemical Processing
Industries, etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. MULTI KIMIA
b. P.T. NUSINA
BENISON RAYA
c. P.T. PANCASAKTI
PRAKARSAMULYA
d. P.T. SETIA JAYA
ERA UNGGUL
e. Etc.
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank NEGARA
Jalan Pemuda No. 36
b. P.T. Bank
Jalan Veteran No. 26
c. P.T. Bank DANAMON
Jalan Raya Darmo No. 59
Surabaya,
East Java
Auditor :
Internal Auditor
Litigation :
No litigation record in our
database
Annual Sales (estimated) :
2009 – Rp. 60.0 billion
2010 – Rp. 64.0 billion
2011 – Rp. 68.0 billion
2012 – Rp. 36.0 billion (January –
June)
Net Profit (estimated) :
2009 – Rp. 3.4 billion
2010 – Rp. 3.8 billion
2011 – Rp. 4.0 billion
2012 – Rp. 2.3 billion (January –
June)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr.
Sunjoto Wahono
Board of Commissioners :
Commissioner -
Mr. Munandar Wahono
Signatories :
Director
(Mr. Sunjoto Wahono) which must be approved by Board of Commissioner (Mr.
Munandar Wahono)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded
with monitor
Proposed Credit Limit :
Small amount – periodical review
Originally named
U.D. SAMA JAYA, the company was established in
P.T. WRD is
affiliated with several other companies, including P.T. ARISTA ARTISTIKA (furniture and marble
products trading) and P.T. WAHANA CIPTA KENCANA (General Trading) and C.V.
SCOMPTEC (Computer Trading and after sales services)
P.T. WRD has been
in operation since 1979 as a dealer in, a supplier and distributor of various
types of chemicals and building materials. The company has been appointed agent
by several local and foreign chemical companies, such as by P.T. OMYA
Generally, local
demand for various chemical had kept increasing by 7% to 8% on the average per
annum in line with the growth of various industrial sectors including food,
beverage, pharmaceutical, cosmetic, etc in the above period as consumers. Starting
in the second semester 2008, many markets in various parts of the world
experienced adverse economic condition.
This condition was triggered by, amongst others, the housing
and mortgage loans crisis in the United States of America (US) that spread to
securities, structures products and commodity markets. The volatility in the
Until this time
P.T. WRD has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T. WRD 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. 60.0 billion
rose to Rp. 64.0 billion in 2010 increased to Rp. 68.0 billion in 2011. As from
January to June 2012 the sales turnover has reached at least Rp. 36.0 billion
with a net profit of Rp. 2.3 billion and projected to go on rising by at least
4% in 2013. The company has an estimated total networth of at least Rp. 7.0
billion. So far, we did not heard that the company having been black listed by
the Central Bank (Bank
The management
of P.T. WRD is led by Mr. SunJoto Wahono (50), who already has more than 19
years of experience in the company's type of business. In the day-to-day
running of the company, he is assisted by a professional staff with wide
experience in the above business. But we are sure that his father, Mr. Munandar
Wahono (79), still carries great weight in the management, especially in the
making of important business decisions. They are widely connected in national
and foreign private business circles and in the ranks of government
authorities. 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. WAHONO REJEKI DINAMIKA is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
|
|
1 |
Rs.84.94 |
|
Euro |
1 |
Rs.68.23 |
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.