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Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. AIDA |
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|
|
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Registered Office : |
Jalan Gunung Agung
GG Indus No. 4, Denpasar, |
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Country : |
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|
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Date of Incorporation : |
1999 |
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|
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Com. Reg. No.: |
No. AHU-49905.AH.01.02.TH.2009 |
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|
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Tour and Travel
Services |
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No. of Employees : |
27 |
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 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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. AIDA INDONESIA
DEWATA (ALLIANCE INDONESIA)
Head Office
Jalan Gunung
Agung GG Indus No. 4
Denpasar, Bali
80118
Indonesia
Phones -
(62-361) 412981 (Hunting), 426843
Fax - (62-361) 421583
E-mail - info@alliance-indonesia.com
Website - http://www.alliance-indonesia.com
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Owned
1999
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No.
AHU-49905.AH.01.02.TH.2009
Dated 15 October
2009
National Private
Company
The Department of
Finance
NPWP No.
01.913.883.3-908.000
The Department of
Culture & Tourism
- No.
P3/999/KWL.Bali/Bd.I/2000
- No.
551.21/752/I/Disparda
None
Capital
Structure :
Authorized
Capital : Rp.
100,000,000.-
Issued Capital : Rp. 25,000,000.-
Paid up Capital : Rp. 25,000,000.-
Shareholders/Owners
:
a. Mr. Putu
Djirna -
Rp. 7,500,000.-
Address : Jl. Gunung Agung GG
Indus No. 4
Denpasar, Bali
Indonesia
b. Mr. Nyoman
Trijata -
Rp. 7,500,000.-
Address : Jl. Gunung Agung GG
Indus No. 4
Denpasar, Bali
Indonesia
c. Mrs. Ni
Putu Tjetierawati -
Rp. 5,000,000.-
Address : Jl. Gunung Agung GG
Indus No. 4
Denpasar, Bali
Indonesia
d. Mrs. Rai
Puspasari Astuti, SE -
Rp. 2,500,000.-
Address : Jl. Tukad Buaji Perum
Pesona II
Barat No. 9,
Denpasar, Bali
Indonesia
e. Mrs. Ni
Putu Sutrisnawati -
Rp. 2,500,000.-
Address : Jl. Gunung Agung GG
Indus No. 4
Denpasar, Bali
Indonesia
Lines of Business
:
Tour and Travel
Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1999
Brand Name :
Alliance
Indonesia
Technical
Assistance :
None
Number of
Employee :
27 persons
Marketing Area
:
Local - 100%
Main Customer
:
Individual,
Foreign Tourism and Others
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ANTA
TOURS AND TRAVEL Tbk
b. P.T. BUANA
TOURS AND TRAVEL Tbk
c. P.T. JATRA
INDOLA TOURS AND TRAVEL
d. P.T. SONA
TOPAS TOURS AND TRAVEL Tbk
e. Etc.
Business Trend
:
Growing
Bankers :
a. P.T. Bank
MANDIRI Tbk
Denpasar Main Branch
Bali, Indonesia
b. P.T. Bank NEGARA INDONESIA Tbk
Denpasar Main Branch
Bali, Indonesia
c. P.T. Bank CIMB NIAGA Tbk
Denpasar Main Branch
Bali, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 20.0
billion
2010 – Rp. 21.7
billion
2011 – Rp. 22.5
billion
2012 – Rp. 11.8
billion (January – June)
Net Profit
(estimated) :
2009 – Rp. 1.7
billion
2010 – Rp. 1.9
billion
2011 – Rp. 2.0
billion
2012 – Rp. 1.1
billion (January – June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Nyoman Trijata
Director -
Mrs. Rai Puspita Astuti, SE
Board of Commissioners :
President Commissioner -
Mr. Putu Djirna
Commissioners -
a. Mrs. Ni Putu Tjetierawati
b. Mrs. Ni Putu Sutrisnawati
Signatories :
President Director (Mr.
Nyoman Trijata) or the Director (Mrs. Rai Puspita Astuti, SE) which must be
approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
The complete name of the company is P.T. AIDA INDONESIA DEWATA with the trading style ALLIANCE INDONESIA was established in Denpasar, Bali in 1999 with the authorized capital of Rp. 100,000,000 issued capital of Rp. 25,000,000 entirely paid up. The company was founded by Mr. Putu Djirna his wife Mrs. Ni Putu Tjetierawati, with their son and daughter namely Mr. Nyoman Trijata, Mrs. Ni Putu Sutrisnawati their partner Mrs. Rai Puspasari Astuti, SE. They are indigenous businessmen of Bali descent. The company notary deed has been changed and in December 2008 the board of directors and board of commissioner have been changed (see profile of this report). The deed of amendment was made by Mr. I Gusti Ayu Rustini Putra, SH., was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-49905.AH.01.02.TH.2009, dated October 15, 2009. We observe the majority business stakes of the company is controlled by Mr. Putu Djirna and family members.
P.T. AID with trading style ALLIANCE INDONESIA (Trademark for overseas market) or ALINDO Dewata Tours (Trademark for Domestic market) has been operating since 1999 for dealing with tours and travel services including the sales, management and performing of tours package, hotel reservation, aircraft ticket sales services and others. The company is a Indonesia and Bali travel agent arrange all travel need from Bali travel, Bali tour, transfer, car rental, Bali hotel reservation, Bali villas reservation and offers domestic and international airline ticketing booking for Bali and Indonesia. Mrs. Sandra, Operation Manager of the company disclosed that domestically P.T. AID offers tours package to Bali, Lombok, Komodo & Flores, Toraja, Sumatera Island, Mentawai, Borneo, Java Island, West Papua and other Indonesian tourist’s destination. Meanwhile, the foreign destination is including Australia, Vietnam, Kamboja, Singapore, European countries, etc. To support of its services in airline tickets, the company also performs domestic and international ticketing including for Garuda, Merpati, Batavia, Lion, Sriwijaya, Riau Airlines and Trans Nusa. The international ticketing is including Singapore Airlines, Cathay Pacific, Quantas and others. He went on say that the customers are including individuals, medium to upper level families intended to travel abroad and also foreign tourist from Belgium, Sweden, France, Germany, USA, Rusia, Asian countries and India. We learnt that P.T. AID or Alliance Indonesia' operation has been running smoothly and growing.
Generally outlook, the leading business of the company is in tour & travel services, hotel reservation, etc. The demand for tour and travel services as well as hotel rooms has been fluctuating in line with the foreign tourist influx to Indonesia within the last five years. Besides, the Indonesian economy has weathered the storm and is currently accelerating. As for the global economy, it is also in a recovery phase and this recovery is expected to continue in 2010. Overall, the prospects for the Indonesian economy in 2010 are brighter than in 2009. The global economic recession has exerted significant downward pressures on the Indonesia economy. In the first quarter of 2009 the economy grew by 4.4 percent, or significantly lower than in the fourth quarter of 2008 when the economy grew by 5.2 percent and lower than in the third quarter of 2008 when the economy grew by 6.4 percent.
Eventually, the impact of the fiscal and monetary stimuli on the economy could be seen. This was reflected in the brisker pace of growth in Indonesia despite the global economic recession. In the second quarter of 2009 the Indonesian economy grew by 4.0 percent, and in the third quarter of the year it grew by 4.2 percent. The economic is expected to accelerate further in the fourth quarter of 2009. Ant for the whole of 2009 the Indonesian economy is expected tot grow by 4.7 percent and 6.0 percent in 2010.
In the third quarter of 2011 Indonesia’s economy grew at 6.5%, and in the fourth quarter of the year the figure is expected to stay at the same level. Thus, in 2011 the country’s economy grew at 6.5%, higher than 6.1% in 2010. The good news is that the manufacturing sector showed better growth. The foreign tourists arriving and staying in 2008 reached 6,234,497 people rose to 6,323,730 people in 2009. This total increased by 89,233 people of 14.31% if compared with that in 2007 reaching 5,505,759 people. Domestic tourists visiting and staying in star hotels in 2008 were registered 14,847.9 thousand people. If compared with the condition in 2007 of 13,113.2 thousand people, there was an increase of 1,734.7 thousand people or 13.23%.
The Total Growth of Foreign Tourists Visiting Indonesia
Based on Port Entrance in 2005-2010
|
Year |
Number of Foreign Tourist |
|
2005 |
5,002,101 |
|
2006 |
4,871,351 |
|
2007 |
5,505,759 |
|
2008 |
6,234,497 |
|
2009 |
6,323,730 |
|
2010 |
7,002,944 |
Source: Central Bureau of Statistic
Until this time P.T. AID has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. AID is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales revenue of the company in 2009 amounted to Rp. 20.0 billion rose to Rp. 21.7 billion in 2010 increased to Rp. 22.5 billion in 2011. As from January to June 2012 the sales revenue has reached at Rp. 11.8 billion with a net profit of Rp. 1.1 billion and projected to go on rising by at least 6% in 2013. The company has an estimated total networth of at least Rp. 3.0 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 P.T. AID is led by Mr. Nyoman Trijata (40) a businessman and professional manager with experience in tour and travel services. He graduated from IFCAD – Institute for Cadre et Development Belgium in French Literature in 1994 – 1995. Daily activity he is assisted by Mrs. Rai Puspasari Astuti, SE (36) as director. The company's management is handled by professional 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. P.T. AINDA INDONESIA DEWATA or ALLIANCE INDONESIA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.97 |
|
UK Pound |
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
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 |
|
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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.