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Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. DAYA
ESA MULYA MANDIRI |
|
|
|
|
Registered Office : |
Jalan Baru No. 38 Kebayoran Lama Jakarta Selatan, 12240 |
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Country : |
Indonesia |
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|
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Date of Incorporation : |
2002’s |
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|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-37508 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading, Import, Supply and Distribution of Mechanical Seals |
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|
|
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No. of Employees : |
27 persons |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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. DAYA ESA MULYA MANDIRI
Head Office
Jalan Baru No. 38
Kebayoran Lama
Jakarta Selatan, 12240
Indonesia
Phones -
(62-21) 7290 467 (Hunting)
Fax - (62-21) 7292 930
E-mail - sales@dayaesa.com
Website - http://www.dayaesa.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2002’s
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. AHU-62590.AH.01.02.TH.2008
Dated 15 September 2008
- No. AHU-AH.01.10-37508
Dated 19 October 2012
Company Status
:
Foreign Investment
(PMA) Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.982.324.4-013.000
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
900,000,000.-
Issued Capital : Rp.
500,000,000.-
Paid up Capital : Rp.
500,000,000.-
Shareholders/Owners
:
a. Mr. Ashok S. Kotamraj - Rp. 499,000,000.-
Address :
Jl. Adityawarman No. 18 A
Kelurahan
Selong, Kecamatan
Kebayoran Baru, Jakarta Selatan
Indonesia
b. Mr. Julius
Roza -
Rp. 1,000,000.-
Address : Jl. Rajawali VIII
Block HD. 8/2
Kelurahan
Pondok Aren, Tangerang
Banten Province
Indonesia
Lines of
Business :
Trading, Import,
Supply and Distribution of Mechanical Seals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2002’s
Brand Name :
Daya Esa Mulya
Mandiri
Technical
Assistance :
None
Number of
Employee :
27 persons
Marketing Area
:
Local - 100%
Main Customer
:
Oil and gas,
fertilizers, mining, chemicals and petrochemicals industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T.
ANEKACIPTA SEALINDO
b. P.T. EAGLEBURGMAN INDONESIA
c. P.T. GLOBAL SARANA PERSADA
d. P.T. GUNUNG MULIA MANDIRI
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
SBI INDONESIA
Gedung
Graha Mandiri
Jalan Imam
Bonjol No. 61
Jakarta Pusat
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Jalan Raya Kebayoran Lama 174
Jakarta
Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 21.8
billion
2011 – Rp. 22.5
billion
2012 – Rp. 23.7
billion
Net Profit
(estimated) :
2010 – Rp. 1.3
billion
2011 – Rp. 1.5
billion
2012 – Rp. 1.7
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Ganapathy Jayaraman
Board of Commissioners :
Commissioner -
Mr. Ashok S. Kotamraj
Signatories :
Director (Mr. Ganapathy
Jayaraman) which must be approved by Board of Commissioner
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. DAYA ESA MULYA
MANDIRI (P.T. DEMM) was incorporated in Jakarta in 2002 by Mr. Julius Roza of
Indonesia and Mr. Ashok S. Kotamraj of Pakistan. According to the latest
revision of notary documents of Mr. Michael Suryono Halim, SH., M.Kn., No. 4
dated 27 September 2012 the company authorized capital was amounted at Rp.
900,000,000 issued capital of Rp. 500,000,000 fully and paid up. According to
the notary documents the latest composition of its shareholders are Mr. Ashok
S. Kotamraj of Pakistan (99.8%) and Mr. Julius Roza (0.2%). The deed of
amendments was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-AH.01.10-37508 dated October 19, 2012.
P.T. DEMM is a
national private company started to be operating since 2002 dealing with
trading, import, supply and distribution of mechanical seal equipment and
parts. P.T. DEMM is a company providing supply and services of engineered
products to the oil and gas, fertilizers, mining, chemicals, and petrochemical
industries and specializes in supply and servicing mechanical seals. With over
11-years of combined experience the company has established a long and friendly
relationship with the customers.
Their primary
goal is to provide customers with a fast, easy, and safe way to supply service
and operate products and accessories from a wide variety of manufacturers. The
company has ten engineers working in eight locations across Indonesia. The team
is comprised of qualified engineers with a minimum of at least three years of
relevant experience. The company has its own repair/ reconditioning facilities
at Jakarta. P.T. DEMM has experience in each of products areas for example they
have installed over 300 seals in the last four years. Their expertise also
covers a wide range of industries from refineries to pharmaceuticals. The
merchandise goods products are mechanical seals, turbo expander for oil &
gas industries geothermal, bal valve, pipe line ball valves, gate, globe &
check valves, gas compressor packages, gas refrigeration, compressor packages
with screw or reciprocating compressors for oil & gas industries, sampling
rack desuperheaters control valves pressure reducing station, air filters
refrigeration, dryers desiccant dryers, moisture separators etc. The whole
product is imported from overseas such as FLOWLINE TECHNOLOGY LLC., of the USA;
LA Turbine Corporation of the USA; LARSEN & TOURBO LTD., Valve Division of
India; Kirloskar Pneumatic Co, Ltd., of India; Forbes Marshall of India and
ULTRAFILTER (India) PVT, LTD., of India. The whole products supply to various
industries such as oil & gas industries, fertilizers, mining industries,
chemical and petrochemical industries. To support of its marketing the company
is also sold of products through distributors C.V. SUKSES MANDIRI SEJAHTERA in
Medan. Besides the products is also marketed in Cilacap, Central Java and
Palembang, South Sumatera. We observe the operation of P.T. DEMM has been
growing and developing well in the last five years.
The demand for
technical equipment including mechanical seals, valves, pressure equipment,
piping systems, fittings, flanges, actuators, gas compressors, generator and
other has kept on rising by 8% to 10% per annum in the last five years. Such
condition was in line with the growth of general mining industry sectors like
oil and gas, industrial refineries, fertilizer industry, electricity, office
building, chemical industry, pharmaceutical industry, food and beverage
companies, pulp and paper, cement and other sectors requiring the above
products. It is projected that the demand growth will be rising within the next
five years. Market competition is very tough on account of many other similar
companies operating in Indonesia. P.T. DEMM’s business position in this case is
not too badly because it has established regular customers and extensive
marketing network in the country.
Until this time
P.T. DEMM has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T.
DEMM is very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total sales turnover of the company in 2010
amounted to Rp. 21.8 billion rose to Rp. 22.5 billion in 2011 increased to Rp.
23.7 billion in 2012 and projected to go on rising by at least 5% in 2013. The
operation in 2012 yielded an estimated net profit of at least Rp. 1.7 billion
and the company has an estimated total networth of at least Rp. 7.0 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. DEMM is led by Mr. Ganapathy Jayarama (64) has nearly 30 years of
experience in flow control business having worked in various capacities
including Project Engineering , Product Design, Manufacturing and Service. He
has experience with a wide range of products and services including mechanical
seals, valves, rupture discs etc. Most recently he was the Director of a large
multinational flow control distributor in Indonesia. 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. DAYA ESA MULYA MANDIRI is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.33 |
|
|
1 |
Rs.89.05 |
|
Euro |
1 |
Rs.72.57 |
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 |
|
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.