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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. AL AMOUDI NATURAL RESOURCES TRADMIN |
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Registered Office : |
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Country : |
Indonesia |
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Date of Incorporation : |
17.02.2011 |
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Com. Reg. No.: |
No. AHU-14073.AH.01.01.Tahun 2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Coal Mining Services and Trading |
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No. of Employees : |
6 persons |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Unknown |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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. AL
AMOUDI NATURAL RESOURCES TRADMIN
Head Office
Equity Tower, 26th
Floor, Suite 26C
Sudirman Central
Business District (SCBD) Lot
Jl. Jend. Sudirman Kav. 52-53
Jakarta Selatan 12190
Indonesia
Phone -
(62-21) 2903 5245
Fax -
(62-21) 2903 5246
Building Area - 34 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
17 February 2011
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-14073.AH.01.01.Tahun 2011
Dated 21 March
2011
Company Status
:
Foreign
Investment Company (PMA)
Permit by the
Government Department :
The Capital Investment Coordinating Board
No. 00209/1/PPM/PPA/2011
Dated 24 January
2011
Related
Companies :
a. NATIONAL
MINING CORP., (Gold Mining)
b. DERBA MIDROC
CEMENT Plc., (Cement Industry)
c. Etc.
Capital Structure :
Authorized Capital - US$. 2,000,000.-
Issued Capital - US$. 600,000.-
Paid up Capital - US4. 600,000.-
Shareholders/Owners
:
a. Mr. Alamoudi, Said Mohammed A. - US$. 480,000.- (80%)
Address : Alamoudi Exchange Co. Gabil St.
Al Balad Dist. PO Box 123
Jeddah 21411
Saudi Arabia
b. Mr. Alamoudi, Ahmad Saeed M. - US$. 60,000.- (10%)
Address : Alamoudi Exchange Co. Gabil St.
Al Balad Dist. PO Box 123
Jeddah 21411
Saudi Arabia
c. Mr. Alamoudi, Saleh Saeed M. - US$. 60,000.- (10%)
Address : Alamoudi Exchange Co. Gabil St.
Al Balad Dist. PO Box 123
Jeddah 21411
Saudi Arabia
Lines of
Business :
Coal Mining Services and Trading
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
September 2011
Brand Name :
AL AMOUDI NATURAL
RESOURCES
Technical
Assistance :
None
Number of
Employee :
6 persons
Marketing Area
:
Export - 100%
Market
Situation :
Very Competitive
Main
Competitors :
a. PT.
Pamapersada Nusantara
b. PT. Cipta
Kridatama
c. PT. Thiess
Contractors
d. Etc.
Business Trend
:
Growing
B a n k e r :
Unknown
Auditor :
No Comment
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Unknown
Net Profit
(estimated) :
2011 – Unknown
Payment Manner
:
No Comment
Financial
Comments :
No Comment
Board of Management :
President Director - Mr. Abdul Samad
Director -
Mr. Samsu Hussain
Board of Commissioners :
Commissioner -
Mr. Alamoudi, Saleh Saeed M
Signatories :
President Director (Mr. Abdul
Samad) or Director (Mr. Samsu Hussain) which must be approved by Board of
Commissioner (Mr. Alamoudi, Saleh Saeed M)
Management Capability :
Fairly good
Business Morality :
Fairly good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. AL AMOUDI NATURAL RESOURCES TRADMIN (P.T. ANRT) was established in Jakarta on February 17, 2011 with an authorized capital of US$. 2,000,000.,- of which US$. 600,000.- was issued and fully paid up. The founding and shareholders of the company are Mr. Alamoudi, Said Mohammed A, and his sons Mr. Alamoudi, Ahmad Saeed M. and Mr. Alamoudi, Saleh Saeed M. They are Saudi Arabian businessmen. The Articles of Association was made by Rina Diani Moliza, SH., a public notary in Jakarta and it has been approved by the Minister of Law and Human Rights of the Republic of Indonesia through Decision Letter No. AHU-14073.AH.01.01.Tahun 2011 dated March 21, 2011. No changes have been effected in term of its shareholding composition and capital structures to date.
We observe that Mr. Alamoudi, Said Mohammed
and his family are also owned of business stakes in NATIONAL MINING CORP., is
engaged in gold mining, DERBA MIDROC CEMENT Plc., is engaged in cement Industry
and others.
Pursuant to the company’s
notary deed, P.T. ANRT engaged to operate in mining services and trading, such
as consulting, planning, implementation and testing of equipment in the mining
construction. The Company’s registered
office located at Equity Tower, 26th floor Suite 26C, Jl. Jend.
Sudirman Kav. 52-53, South Jakarta and the company can open branch offices or
representative offices at home and abroad.
P.T. ANRT was established within
the framework of foreign investment
(PMA), which has received permit
from the Investment Coordinating Board
(BKPM) through Decision Letter No.No. 00209/1/PPM/PPA/2011, dated
January 24, 2011. We
observed that P.T. ANRT has been in operation November 2011 dealing with coal
mining services and trading of mineral product such as coal, nickel, iron ore,
etc. P.T. ANRT is classified as a new
company of its kind in the country of which the operation has been growing
slowly.
The financial
condition of the company is appraised to be less strong and its financial
condition at present is as the paid up capital of US$. 600,000 as stated in the
articles of association of the company. The financial condition of the company
still depends on the financial condition of its shareholders. P.T. ANRT is
supported by a businessman of financially strong and healthy. So far we have never heard that the company
registered with the black list of Bank of Indonesia (Central Bank) or involved
in the civil case that settled through the country court.
Pursuant to the
Company’s notary deed, P.T. ANRT is headed Mr. Abdul Samad (43) as President
Director and Mr. Samsu Hussain (27) as Director, both are Indian descent. But, the primemover of the company is Mr.
Alamoudi, Said Mohammed (74) and his sons Mr. Alamoudi, Ahmad Saeed M. (50) and
Mr. Alamoudi, Saleh Saeed M (48). So
far, we did not hear that the company’s management involved in a 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. We observed that the
company’s management is not actively joined in any political party activity in
the country.
Considering P.T.
AL AMOUDI NATURAL RESORUCES TRADMIN is still relatively new operation, we
recommend to treat prudently in extending new loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.53 |
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1 |
Rs.86.82 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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<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.