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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
C.V. TUJUH SW |
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|
|
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Registered Office : |
Jalan TPA Kenanga, Lingkungan Kenanga Permai, Kelurahan Kenanga, Kecamatan Sungai Liat, Bangka 33215, Bangka Belitung Province |
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|
|
Country : |
Indonesia |
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Year of Establishment : |
2007 |
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|
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Partnership
with Sleeping Partner |
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|
|
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Line of Business : |
Trader and
Exporter of Tin Ore and Tin Ingots |
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|
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No. of Employees : |
07 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 |
|
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 |
C.V. TUJUH SW
Registered Office
Jalan TPA Kenanga
Lingkungan
Kenanga Permai, Kelurahan Kenanga
Kecamatan Sungai
Liat, Bangka 33215
Bangka Belitung
Province
Phones -
None
Fax - None
Correspondence
Office
Jalan K.H. Abdul
Rahmat Siddik No. 8 Block A 2
Pangkal Pinang
Bangka Belitung
Province
Indonesia
Phones -
(62-717) 432109
Fax - (62-717) 94731
2007’s
C.V.
(Commanditaire Vennootschap) or Partnership with Sleeping Partner
Not Required
Private National
Company
The Department of
Finance
Not Available
P.T. AUSTINDO
JAYA ABADI (Trading and Wholesales of Dolphin Chocolate Products)
Capital
Structure :
Owned Capital : Rp. 50 million
Owners :
a. Mr.
Kristian Tjandra (Active Partner)
b. Mrs. Tjandra (Silent Partner)
Lines of
Business :
Trader and
Exporter of Tin Ore and Tin Ingots
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2007’s
Brand Name :
Tujuh SW
Technical
Assistance :
None
Number of
Employee :
7 persons
Marketing Area
:
Export - 100%
Main Customer
:
Buyers in China
Market
Situation :
Very Competitive
Main
Competitors :
a. C.V. MAKMUR
JAYA
b. C.V. NURJANAH
c. C.V. SERUMPUN
SEBELAI
d. C.V. UNITED
SMELTING, Etc
Business Trend
:
Growing
Banker :
P.T. Bank MANDIRI
Tbk
Jalan Masjid
Jamik No. 16
Pangkal Pinang
Bangka Belitung
Province
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 1.2
billion
2010 – Rp. 1.4
billion
2011 – Rp. 1.6
billion
2012 – Rp. 0.9
billion (January – June)
Net Profit
(estimated) :
2009 – Rp. 0.2
billion
2010 – Rp. 0.3
billion
2011 – Rp. 0.4
billion
2012 – Rp. 0.2
billion (January – June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Kristian Tjandra
Board of Commissioners :
None
Signatories :
Director (Mr. Kristian
Tjandra) is only the authorized person to sign the loan on behalf of the
company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Based to our investigation to the above address at Jalan TPA Kenanga, Lingkungan Kenanga Permai, Kelurahan Kenanga, Kecamatan Sungai Liat, Bangka Belitung Province that C.V. TUJUH SW was not found and has yet been registered on Telkom Information of Bangka Belitung.
However according to the internet, C.V. TUJUH SW located at Jeletik Road Sungai Liat, Bangka Belitung with phone (62-717) 432109. Meanwhile after contacted the phone number registered on P.T. AUSTINDO JAYA ABADI which the complete address Jalan K.H. Abdul Rachmat Siddik No. 8 Block A2, Pangkal Pinang, Bangka Belitung Province. According information from Mrs. Ehat, staff of the company said C.V. TUJUH SW located Jalan TPA Kenanga with no phone number.
C.V. TUJUH SW was incorporated in Bangka in 2007 with the legal status of C.V. (Commanditaire Vennootschap) or partnership with sleeping partner. The company was founded by Mr. Kristian Tjandra as active partner and his wife Mrs. Tjandra 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 it’s capital at some Rp. 50 million. Besides, Mr. Kristian Tjandra is also business stakes owner of P.T. AUSTINDO JAYA ABADI a private national company dealing with trading and wholesale of Dolphin chocolate products.
C.V. TUJUH SW is a private national company engaged in the field trading and exporter of tin ore and tin ingots. Based information from the Directorate General Mines Energy and Mineral Resources of Bangka Belitung, explained that C.V. TUJUH SW is a company trader and exporter of tin ore and tin ingots. The company obtained tin ore and tin ingots from tin smelting and tin mines in Bangka Belitung and surroundings. Besides, in November 2007 C.V. TUJUH SW is obtained tin ore through auction State Attorney Sungai Liat. Tin san auction about 53.2 tons valued Rp. 15,600/kg with a total of Rp. 849.5 million. Tin sand auction execution results through the auction office followed by company and three companies but C.V. TUJUH SW is the winner of the auction.
According information from Mrs. Ehat, staff of P.T. AUSTINDO JAYA ABADI said that the tin ingots and tin ore is also bought from tin smelting and tin mining in Bangka Balitung and surroundings. We observe that C.V. TUJUH SW is a small sized company of its kinds which operating has growing with slowly in the last three years. Besides, we are also doubt because the complete address of the company is also not clearly and only promote its business through the Internet.
Generally mining activities for such minerals as tin, coopers, gold, silver, nickel ore, coal and etc. have fluctuated and for gold have been expanding in the country in the last five years. The trend has been in line with the weak prices of nickel and bauxite and with the firm price of gold on the international market. The mineral mining activities in Indonesia is seen from the total production of minerals as below.
Production Growth of Some Minerals in Indonesia, 2005 – 2010*
|
Year |
Tin Ore Concentrate (Ton) |
Cooper Ore Concentrate (Ton) |
Nickel Ore (Ton) |
Bauxite (Ton) |
Coal (Ton) |
Gold (Kg) |
Silver (Kg) |
|
2005 |
78,404 |
3,553,808 |
3,706,998 |
1,419,666 |
152,722,438 |
142,894 |
326,993 |
|
2006 |
80,933 |
2,938,009 |
4,353,833 |
1,501,937 |
181,060,907 |
93,176 |
270,153 |
|
2007 |
66,137 |
2,814,952 |
7,118,438 |
1,251,147 |
174,832,673 |
117,851 |
268,967 |
|
2008 |
47,626 |
2,340,100 |
6,557,103 |
1,594,196 |
181,569,985 |
62,695 |
302,292 |
|
2009 |
44,113 |
3,484,122 |
5,806,886 |
1,276,797 |
209,344,688 |
126,963 |
321,127 |
|
2010 |
36,574 |
3,199,562 |
5,324,822 |
939,544 |
210,896,926 |
93,076 |
247,314 |
Source: Central Bureau of Statistics
(BPS) *) January - November
Until this time C.V. TUJUH SW has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of c.v. tujuh sw 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. 1.2 billion rose to Rp. 1.4 billion in 2010 increased to Rp. 1.6 billion in 2011. As from January to June 2012 the turnover was reached at least Rp. 0.9 billion with a net profit of Rp. 0.2 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. TUJUH SW is led by Mr. Kristian Tjandra (50) a businessman with experience in trading, and export of tin ore and tin ingots. The company's management is handled by a number of 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. However, in view of the company only promote its business through Internet and difficulties to found of complete address we recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.70.85 |
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.