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Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. KHARISMA PELITA ABADI |
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Registered Office : |
Jalan Biak No.
14, Roxi Jakarta 10150 |
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Country : |
Indonesia |
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Date of Incorporation : |
06.09.2002 |
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Com. Reg. No.: |
No. AHU-00956.AH.01.02.Tahun 2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Export and Distribution of Agricultural Products |
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No. of Employees : |
36 persons |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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. KHARISMA
PELITA ABADI
Head Office
Jalan Biak No. 14, Roxi
Jakarta 10150
Indonesia
Phones
-
(62-21) 63869352, 63869353
Fax - (62-21) 63851173
Email - e_owen@cbn.net.id
Website - http://www.indowincommodity.com
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
06 September 2002
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and
Human Rights
- No. C-19999 HT.01.01.TH.2002
Dated 16 October 2002
- No. AHU-00956.AH.01.02.Tahun 2011
Dated 07 January 2011
Company Status
:
National Private Company
Permit by the
Government Department :
The Department of Finance
NPWP No. 02250.169.6-028.000
Related
Companies:
Not available
Capital
Structure :
Authorized
Capital - Rp.
1,000,000,000.-
Issued
Capital - Rp. 600,000,000.-
Paid up
Capital - Rp. 600,000,000.-
Shareholders/Owners
:
a. Mr. Elang Owen -
Rp. 300,000,000.-
Address : Palemanda Asri Blok B.2/5
Kel. Karang Tengah,
Tangerang
Banten, Indonesia
b. Mrs. Thamudren Wanishri - Rp. 240,000,000.-
Address :
Jl. Pelita Blok C No. 5
Cengkareng
Timur
Jakarta Barat,
Indonesia
c. Mr. Dharma
Raja - Rp. 60,000,000.-
Address : Kampung Karang Mulya RT.002/RW.008
Karangsatria,
Bekasi
West Java,
Indonesia
Lines of
Business :
a. Trading, Export-Export and Distribution of Agricultural Products
b. Trading and
Distribution of Laser Toner Catridge, Printer Spare Parts and Servies
Production
Capacity :
None
Total
Investment :
Owned
Capital - Rp. 2.0 billion
Started
Operation :
January 2003
Brand Name :
SUNDOT
Technical
Assistance :
None
Number of
Employee :
36 persons
Marketing Area :
a. Local -
50%
b. Export - 50%
Main Customers
:
a. Overseas buyer in Malaysia, Singapore, India, Sri Lanka, Pakistan and
China
b. Domestic Corporate and Individuals
Market
Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM
INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI
SAMPOERNO
d. C.V. PUTRA NUSA
e. C.V. SUMBER
BUMI JAYA
f. C.V. ARSAM
PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank NEGARA INDONESIA Tbk.
Komplek Duta Merlin Blok A
1-2-3
Jalan Gajah Mada No. 3-5
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Revenue
(estimated) :
2009 – Rp. 50.2 billion
2010 – Rp. 57.0 billion
2011 – Rp. 65.0 billion
Net Profit
(estimated) :
2009 – Rp. 2.8 billion
2010 – Rp. 3.2 billion
2011 – Rp. 3.6 billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Elang Owen AKA Gowin
Director -
Mr. Dharma Raja
Board of Commissioners :
Commissioner - Mrs. Thamudren Wanishri
Signatories :
President Director (Mr. Elang Owen AKA
Gowin) or Director (Mr. Dharma Raja) which must be approved by Board of
Commissioner (Mrs. Thamudren Wanishri)
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. KHARISMA
PELITA ABADI (P.T. KPA) was established in Jakarta on September 6, 2002 with an
authorized capital of Rp. 1,000,000,000.- of which Rp. 300,000,000.- was issued
and fully paid up. The founding
shareholders of the company are Mr. Elang Owen (50%) and Mr. A Siwa Kumar
(50%), both are Indonesian businessmen of Indian descent. The Articles of Association was made by Fauzi
Agus, SH., a notary in Jakarta and it has been approved by the Minister of Law
and Human Rights through Decision Letter No. C-19999 HT.01.01.TH.2002 dated
October 16, 2002.
The articles of association of the
company have frequently been revised. In December 2010, the issued capital was raised from Rp.
300,000,000.- to Rp. 600,000,000.- and fully paid up. Concurrently, Mr. A Siwa Kumar pulled out and
the whole shares are sold to Mrs. Thamudren Wanishri and Mr. Dharma Raja, both
also Indonesian business persons of Indian descent. Since then, the shareholders of the company
are Mr. Elang Owen AKA Gowin (50%), Mrs. Thamudren Wanishri (40%) and Mr.
Dharma Raja (10%). The amendment to
Articles of Association was made by Rose Takarina, SH., a notary in Jakarta and
it has been approved by the Minister of Law and Human Rights through Decision
Letter No. AHU-00956.AH.01.02.Tahun 2011 dated January 7, 2011. No changes have been effected in term of its
shareholding composition and capital structures to date.
P.T. KPA has been in
operation since early 2003 in trading, export import and distribution of
agricultural products. Mr. G.
Thamudren, an administrative staff of the company explained that the whole
agricultural products such as; fresh mature coconuts, brown mature coconut,
cloves, gum copal, nut meg, cinnamon spice, tapioca chips, brown palm sugar,
mug bens, raw cashew nut and mung beans bought from farmer in Java, Sumatra,
Sulawesi and others island of
Indonesia. Then, the whole products are
exported to Malaysia, Singapore, India, Sri Lanka, Pakistan and China. Besides,
the company also imported of dried red chilies, star anise, ground nuts, fennel
seeds, soybean meal, funegreek seed, coriander seeds, mustard seeds, cumin
seeds and black cumin from India, Pakistan, China, Australia, Germany and USA.
The whole products supplied to snack food industries and traditional market in
Jakarta, Bandung, Semarang, Surabaya, East Java and Bali. Beside that, P.T. KPA also engaged in
trading and distribution of laser toner catridge, maintenance and printer
services, printer spare parts and printer rental. The whole products are marketed and supply to
various companies in Jakarta and its surrounding. We observed that P.T. KPA is classified as a
medium sized company of its kind in the country of which the operation has been
growing in the last three years.
We have noticed that the demand for
agricultural products had increased some 10% to 11% per annum in the last five
years in line with the growth of industrial manufacturing in the country and
international market. In the coming years, the growth rate of demand is estimated
at about 6% to 7% per annum. The present market situation for agricultural
products is very competitive for a large number of similar companies operating
in the country. Meanwhile, competition
is quite heavy in the export import of agricultural products with many
companies now doing business in this field in Indonesia. We consider P.T. KPA
to be in a quite favorable position for having already got hold of a steady
clientele in the Java and surroundings.
Until this time
P.T. KPA has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. We observed that total
sales turnover of the company in 2009 amounted of Rp. 52.8 billion increased to
Rp. 57.0 billion in 2010 and rose again to Rp. 65.0 billion in 2011. The operation in 2011 yielded an estimated
net profit at least Rp. 3.6 billion and the company has an estimated total
networth at Rp. 6.0 billion. It is forecasted that total sales turnover of the
company will increase at least 10% in 2012. The Based on information obtained
from some customers, the payment habit of the company is smooth ranging from 1
to 3 months. So far, we did not
heard that the company having been black listed by the Central Bank (Bank
Indonesia).
Since December 2010, the management of the
company has been led by Mr. Elang Owen AKA Gowin (46) as president director,
with more than 10 years experienced in trading, import-export and distribution
of agricultural products. In daily
activities, he is assisted by Mr. Dharma Raja (38) as director and Mrs.
Thamudren Wanishri (31) as commissioner.
The management, which is evaluated quite creative and dynamic, also has
succeeded in expanding their overseas marketing network. We consider the
management is quite capable of further developing business in the future. They
have close relations with many high-ranking government officials as well as
with private businessmen within and outside the country. So far, we did not
hear that the company’s management involved in the business malpractices or
detrimental cases that settled in the country. The company’s litigation record
is clean and it has not registered with the black list of Bank of Indonesia.
P.T. KHARISMA PELITA ABADI is appraised good
for business transaction. But owing to economic condition in the country is
still unstable, we recommend to treat prudently in extending any new loan to
the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.44 |
|
|
1 |
Rs.89.31 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
|
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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.