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Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. JAWA INDAH SEJAHTERA |
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|
|
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Registered Office : |
Wisma Gajah Block AG No. 33, Jalan Dr. Saharjo Raya Kav. 111, Jakarta 12810 |
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Country : |
Indonesia |
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Date of Incorporation : |
24.02.1997 |
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Com. Reg. No.: |
No. AHU-AH.01.10-13915 |
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Legal Form : |
Limited
Liability Company |
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|
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Line of Business : |
Export Import
Services and Custom Clearances Services |
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|
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No. of Employees : |
36 employees |
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 |
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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 |
|
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. JAWA INDAH SEJAHTERA
Head Office
Wisma Gajah Block AG No. 33
Jalan Dr. Saharjo Raya Kav. 111
Jakarta 12810
Indonesia
Phones -
(62-21) 8319818 (hunting)
Fax - (62-21) 8319819, 8296688
Email - jisjkt@indo.net.id or jawaindahsejahtera@gmail.com
Building Area - 2 storey
Office Space - 200 sq. meters
Region -
Commercial
Status -
Rent
Branch
Komplek Manyar Megah Indah Plaza
Jalan Ngagel Jaya Selatan Blok K.17-18
Surabaya 60284
East Java
Indonesia
Phones -
(62-31) 503 6867 (hinting)
Fax - (62-31) 502 9935
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Owned
24 February 1997
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Justice and Human Rights
a. No.
C-04482 HT.01.04.TH.2003
Dated 5 March 2003
b. No.
AHU-24704.AH.01.02.Tahun 2008
Dated 13 May 2008
c. No. AHU-AH.01.10-13915
Dated 04 June 2008
National Private
Company
a. The
Department of Finance
NPWP No. 10.810.263.2-062.000
b. The
Department of Trade and Industry
SIUP No. 03857/1.824.271
TDP No. 09.03.163.25.084
A Member of the
DJAWA INDAH Group
Capital
Structure :
Authorized
Capital - Rp.
1,000,000,000.-
Issued Capital - Rp. 750,000,000.-
Paid up Capital - Rp. 750,000,000.-
Shareholders/Owners
:
a. Mr. John
Lukas Prawiromaruto - Rp.
412,500,000.- (55%)
Address : Taman Radio Dalam VII
No. 32
Kebayoran Baru,
Jakarta Selatan
Indonesia
b. Mrs. Dwi Soesjandari -
Rp. 300,000,000.- (40%)
Address : Taman Radio Dalam VII
No. 32
Kebayoran Baru,
Jakarta Selatan
Indonesia
c. Miss Ingrid
Victoria -
Rp. 37,500,000.- ( 5%)
Address : Nginden Intan Barat V/40-42
Sukolilo,
Surabaya, East Java
Indonesia
Lines of
Business :
Export Import
Services and Custom Clearances Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1997
Brand Name :
None
Technical
Assistance :
None
Number of
Employee :
36 persons
Marketing Area
:
Domestic - 100%
Main
Customers:
a. P.T. ADHI
KARYA Tbk
b. P.T. YUAN
SEJATI
c. P.T.
PERUSAHAAN GAS NEGARA (Persero)
d. P.T. TELKOM
Tbk
e. P.T. KALBE
FARMA Tbk
f. P.T. SANBE FARMA
g. P.T. ENSEVAL PUTERA MEGATRADING
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. DAMFIT
INDAH
b. P.T. DAYA
SEMARAK
c. P.T. HARITA
SARI
d. P.T. FOUTUNE
INDONESIA
e. Etc.
Business Trend
:
Growing
Banker :
P.T. Bank MANDIRI Tbk
Plaza Mandiri
Jalan Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 27.7
billion
2010 – Rp. 31.5
billion
2011 – Rp. 36.0
billion
Net Profit
(estimated) :
2009 – Rp. 1.7
billion
2010 – Rp. 1.9
billion
2011 – Rp. 2.2
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. John Lukas Prawiromaruto
Directors -
a. Mr. Joseph Irwan Muhadi, SH
b. Mr. Drs. Sunirman Laurantius
Board of Commissioners :
President Commissioner -
Mrs. Dwi Soesjandari
Commissioner -
Mr. Kristian Rene
Signatories :
President Director (Mr.
John Lukas Prawiromaruto) or one of the Directors (Mr. Joseph Irwan Muhadi,
SH., and Mr. Drs. Sunirman Laurantius) which must be approved by Board of
Commissioners (Mrs. Dwi Soesiandari and Mr. Kristian Rene)
Management Capability :
Good
Business Morality :
Good
P.T. JAWA INDAH SEJAHTERA (P.T. JIS) was established in February 1997 with the authorized capital of Rp. 50,000,000 wholly issued and paid up. The founding shareholders of the company are P.T. Perseroan Dagang dan Industri N.V. DJAWA INDAH, a private company, Mr. Herman Budi Prawiro, SH., and his wife Mrs. Inawati Prawiro Maruto, both are Indonesian business persons of Chinese extraction. The company notary deed has frequently been revised. In October 1998, the authorized capital was increased to Rp. 1,000,000,000.- of which Rp. 750,000,000,- was issued and fully paid up. On the same occasion, its entire shares were taken over by Mr. John Lukas Prawiro the son of Mr. Herman Budi Prawiromaruto, SH., and Miss Ingrid Victoria. In January 2003, Mrs. Dwi Soesjandari (wife of Mr. John Lukas Prawiro) joined the company as new shareholder. Since the time, the shareholders of the company are Mr. John Lukas Prawiromaruto (55%), Mrs. Dwi Soesjandari (40%) and Miss Ingrid Victoria (5%). The latest deed of amendment was made by Mr. Pius Rachmat Santoso, SH., a public notary in Jakarta and it has been approved by the Minister of Law and Human Rights through Decision Letter No. AHU-AH.01.10-13915 dated June 4, 2008. No changes have been effected in term of its shareholding composition and capital structures to date.
P.T. JIS is a member company of the DJAWA INDAH Group, a medium sized business group in Indonesia headed and the majority business stakes owned by Mr. Herman Budi Prawiro Maruto and his family members. P.T. JIS has been in operation since 1997 in export import services and custom clearance services. Mrs. Noviyanti, an administrative staff of the company said that P.T. JIS dealing with various document clearing services including tax documents, customs documents, custom clearance and others for various types of goods from seaports or airports. The goods consist of capital goods and manufacturing products such as industrial chemical, machinery, spare parts, pharmacy basic materials and others from various countries as required clients. The company imported industrial chemical from Europe Union, and fragrances, and basic chemical from the United Kingdom and other countries. The whole products supplied to glass manufacturing, detergent and soaps manufacturing and other industries. She went on to say that the company also serves transportation of goods to the warehouses or other places based on its clients’ request. To support its activities, the company is in cooperation with several land transportation firms in Jakarta and several big cities in Indonesia.
Currently PT. JIS has established cooperation with 35 companies that routinely utilize their services in import and export activities and customoms clearance services. Several companies that became their regular partner are PT. Adhi Karya Tbk., PT. PGN Persero, PT. Telkom Tbk., PT. Kalbe Farma Tbk., PT. Sanbe Farma, PT. Enseval Putera Megatrading and others. P.T. JIS is still classified as a medium sized company of its kind in Indonesia and its business operation has been growing within the last three years.
Generally, the demand for export-import services and custom clearance services had been rising by the average 6% to 8% per year within the last five years in line with the trend of Indonesian Export and Imports. But since the global economic crisis and tight money policy being imposed by Bank Indonesia in October 2008 the demand was decreased within due to a poor economic condition and decreasing income per capita. The demand was increasing in the early 2009 due to economic condition was gradually recovery in the country. Pursuant to BPS (Central Bureau of Statistic), exports in March 2012 including and excluding petroleum and gas was US$.17.25 and US$.13.77 billion respectively, while the respective import figures were US$.16.33 billion and US$ 12.32 billion. Therefore, the Balance of trade for March 2012 including petroleum and gas experienced a surplus US$.0.93 billion, where as without petroleum and gas it was a surplus of US$ 1.45 billion. Market competition is very tight due to a large number of similar companies operating in the country. Business position of P.T. JIS is favorable for it has controlled a wide marketing network at home and abroad and its brand has been widely known among consumers in the country.
Until this time P.T. JIS 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 to Rp. 27.7 billion, increased to Rp.31.5 billion in 2010 rose again to Rp. 36.0 billion in 2011 and projected to go on rising by at least 8% in 2012. It is estimated the company has yielded a net profit of at least Rp. 2.2 billion with an estimated total networth at least Rp. 12.0 billion. We observe that P.T. JIS is supported by financially fairly strong businessmen behind it. So far, we did not hear 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 P.T. JIS is led by Mr. John Lukas Prawiromaruto (46) a businessman with 20 years of experience in export-import and custom clearances services. In daily activities he is assisted by Mr. Jospeh Irwan Muhadi, SH (65) and Mr. Drs. Sunirman Laurantius (57), both are as director respectively. The management is quite creative and dynamic, having maintained a wide business relation with private businessmen at home and abroad and with the government sectors as well. We observed that management’s reputation in said business is fairly good. So far, we did not hear that the company’s management involved in a dirty business practice 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. JAWA INDAH SEJAHTERA is sufficiently fairly good for business transaction. However, in view of the unstable economic condition in the country we recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.73 |
|
UK Pound |
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
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.