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Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. LEGIAN FAVE |
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|
|
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Registered Office : |
Jalan
Plawa Gang Mawar, Lingkungan Seminyak, Denpasar, Bali |
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|
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Country : |
Indonesia |
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|
|
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Date of Incorporation : |
29.01.2010 |
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|
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Com. Reg. No.: |
No.
AHU-AH.01.10-37220 |
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|
|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Villa
and Cottage Development and Management |
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|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Poor |
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|
|
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Payment Behaviour : |
Unknown |
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Litigation : |
--- |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 6.2% and 6.5% 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 fiscal deficit below 3%, 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
2013 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 high oil prices.
|
Source : CIA |
P.T. LEGIAN FAVE
Registered Office
Jalan
Plawa Gang Mawar
Lingkungan
Seminyak
Denpasar
Bali
Indonesia
Phones -
(62-361) Not Available
Fax - (62-361) Not Available
Building Area - None
Office Space - None
Region - None
Status - None
29 January 2010
P.T.
(Perseroan Terbatas) or Limited Liability Company
The Ministry of Law
and Human Rights
- No. AHU-18330.AH.01.01.TH.2010
Dated 12 April 2010
- No. AHU-AH.01.10-37220
Dated 17 October 2012
Foreign
Investment (PMA) Company
The Department of
Finance
NPWP
No. 02.970.958.1-905.000
The Capital
Investment Coordinating Board
No.
1661/I/PMA/2009
Dated
30 December 2009
COWPER
INVESTMENTS LIMITED,. British Virgin Island (Investment Holding)
Capital
Structure :
Authorized
Capital : US$
400,000.-
Issued
Capital :
US$ 400,000.-
Paid
up Capital :
US$ 400,000.-
Shareholders/Owners
:
a.
COWPER INVESTMENTS LIMITED -
US$ 392,000.-
Address : PO Box
957
Road Town, Tortola
British Virgin Island
b.
Mrs. Rizki Nur Avianti -
US$ 4.-
Address : BR. Dinas Tegayang
Desa Penatahan, Kecamatan
Penebel
Tabanan, Denpasar, Bali
Indonesia
c.
Mr. Anak Agung Arthaguna -
US$ 4.-
Address : Jl. Setiabudi No. 48
Denpasar, Bali
Indonesia
Lines
of Business :
Villa
and Cottage Development and Management
Production
Capacity :
None
Total
Investment :
Owned
Capital -
US$ 400,000.-
Started
Operation :
Unknown
Brand
Name :
Legian
Fave
Technical
Assistance :
Cowper
Investments Limited, British Virgin Islands
Number
of Employee :
Unknown
Marketing
Area :
Local - 100%
Main
Customer :
Unknown
Market
Situation :
Unknown
Main
Competitor :
None
Business
Trend :
No
comment
Banker
:
Unknown
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
Unknown
Net
Profit (Loss) :
Unknown
Payment
Manner :
Unknown
Financial Comments :
Weak
Board
of Management :
Director - Mr. Jeremiah William Kaligis
Board
of Commissioner :
Commissioner - Mrs. Yunita Vanessa Tanudiredja,
SH
Signatories :
Director (Mr.
Jeremiah William Kaligis) which must be approved by Board of Commissioner
Management
Capability :
Weak
Business
Morality :
Prudent
Based to our investigation to the above address which you provided us, P.T. LEGIAN FAVE has yet been registered and was not found. We found Hotel FAVE By Pass at Jalan By Pass Ngurah Rai 999, Kuta, Denpasar, Bali Province under the company name P.T. WOLUCAS JAYA ABADI not P.T. LEGIAN FAVE. Besides, we had check through Telkom Information, Denpasar, Bali explained that P.T. LEGIAN FAVE has yet been registered on Telkom Information, Bali.
P.T. LEGIAN FAVE (P.T. LF) was established in Denpasar, Bali based on notary deed of Mrs. Tutik Danakusuma, SH., No. 18 dated 29 January 2010 with the authorized capital of US$ 400,000 wholly issued and paid up. The founding and shareholders of the company originally are Mr. Titian Wilaras as local partner, Mr. Habib Zeitouneh and Mr. Leonard Zeitouni both are of Australia as foreign partners. The company notary deed had been changed and according to the latest revision of notary documents of Mrs. Tutik Danakusuma, SH., No. 18 dated 15 May 2012 the whole shares had been taken over by COWPER INVESTMENTS LIMITED of British Virgin Islands (98%), Mrs. Rizki Nur Avianti (1%) and Mr. Anak Agung Arthaguna (1%). The latest revision of notary documents was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-37220 dated October 17, 2012.
P.T. LF is obtained Foreign Capital Investment (PMA) facility from the Capital Investment Coordinating Board (BKPM) to deal with villa and cottage development and management. The company will be builds and develop of cottage and villas located at Jalan Plawa Gang Mawar, Lingkungan Seminyak, Denpasar, Bali Province, Indonesia. According to information from some reliable sources and regional government of Denpasar explain many hotel management companies and cottages are not registered and do not have a business license to operate in the field of hotel development and management in Bali province. We had check trough information sources in Bali province, however is very difficult to do found the complete address of P.T. LF. We didn’t know the complete line of business of P.T. LEGIAN FAVE due to the complete address of the company was not found.
We refrain from informing business prospect of P.T. LF because of having yet found the complete address up to present. In view of having yet to be unknown the complete address, the company’s financial condition is as much as the company’s issued capital worth US$ 40,000. We find that the company’s financial condition still depends on the financial condition of its shareholders being supported by the businessmen behind it.
Based to the company notary deed, the management of P.T. LF is led by Mr. Jeremiah William Kaligis (29) a son of Mr. O.C. Kaligis, SH., a well known and top lawyers in Indonesia. Meanwhile the commissioner is Mrs. Yunita Vanessa Tanudiredja, SH (31) is also a senior lawyer of the OC KALIGIS & ASSOCIATES, a top ten law firms in Jakarta, Indonesia. The management will eventually be handled by professional managers having wide relation with overseas and national private businessmen as well as with the government sectors. In view of P.T. LEGIAN FAVE having yet to be unknown the complete address, we recommend that a high degree of prudence be observed in business transactions and adequate collateral from its shareholders be acquired in extending a new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
UK Pound |
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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.