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Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. MITRATAMA GLOBALINDO |
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Registered Office : |
Jalan Poris Paradise Block B-1 No. 8, Poris Gaga, Batu Ceper, Tangerang, 15148, Banten Province |
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Country : |
Indonesia |
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Date of Incorporation : |
10.08.2007 |
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Com. Reg. No.: |
No. AHU-44044.AH.01.02.TH.2009 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Trading, Import
and Distribution of Agriculture Commodities Products |
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No. of Employees : |
13 |
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 : |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 6.2% 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. MITRATAMA GLOBALINDO
Head Office
Jalan Poris
Paradise Block B-1 No. 8
Poris Gaga, Batu
Ceper
Tangerang, 15148
Banten Province
Indonesia
Phone -
(62-21) 5575298
Fax - (62-21) 5575298
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
10 August 2007
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of Law
and Human Rights
- No. C-01501.HT.01.01.TH.2007
Dated 29 October 2007
- No. AHU-44044.AH.01.02.TH.2009
Dated 7 September 2009
National Private
Company
The Department of
Finance
NPWP No.
02.673.068.9-402.000
None
Capital
Structure :
Authorized
Capital : Rp.
4,000,000,000.-
Issued Capital : Rp.
4,000,000,000.-
Paid up Capital : Rp.
4,000,000,000.-
Shareholders/Owners
:
a. Mr. Fandi
Arifin -
Rp. 3,600,000,000.-
Address : Taman Wisma Asri D20/46,
RT. 002 RW. 008
Kelurahan Teluk Pucung, Kecamatan
Bekasi
Utara, Bekasi,
West Java
Indonesia
b. Mr. Rapli
Sukmono -
Rp. 400,000,000.-
Address : Kp. Rawa Bugel RT.
002 RW. 003
Kelurahan Margamula, Kecamatan Bekasi
Utara, Bekasi, West Java
Indonesia
Lines of
Business :
Trading, Import
and Distribution of Agriculture Commodities Products
Production
Capacity :
None
Total Investment
:
None
Started
Operation :
2007
Brand Name :
Mitratama
Globalindo
Technical
Assistance :
None
Number of
Employee :
13 persons
Marketing Area
:
Local - 100%
Main Customer
:
Traditional
markets, wholesale and traders
Market
Situation :
Very Competitive
Main
Competitors :
a. C.V. AGRO NUSA
PERMAI
b. P.T. BUKIT
HIJAU SUBUR
c. C.V. HARAPAN UTAMA
d. C.V. WIRA MIVA MANDIRI
e. Etc.
Business Trend
:
Growing
Banker :
P.T. Bank CENTRAL
ASIA Tbk
Poris Indah Block D2/1
Jalan Ampera Tangerang
Tangerang, Banten
Province
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 7.5
billion
2011 – Rp. 8.0
billion
2012 – Rp. 8.5
billion
Net Profit
(estimated) :
2010 – Rp. 450
million
2011 – Rp. 480
million
2012 – Rp. 510
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Rapli Sukmono
Board of Commissioners :
President Commissioner -
Mr. Fandi Arifin
Commissioner -
Mr. Batasfi Pontas Gultom
Signatories :
Director (Mr. Rapli
Sukmono) which must be approved by Board of Commissioners
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Based to our investigation to the above address Jalan Poris Paradise Block B-1 No. 8, Poris Gaga, Batu Ceper, Tangerang, Banten Province, through P.T. TELKOM in Jakarta and Tangerang, explained that the above addressed or P.T. MITRATAMA GLOBALINDO has yet not registered on the P.T. TELKOM information and Indonesian Standard Book Directory. According information from the Ministry of Trade and Industry the Subject address located at the above address with telephone number (62-21) 5575 298.
P.T. MITRATAMA GLOBALINDO (P.T. MG) was established in Tangerang, Banten Province with the notary deed of Mrs. Liana Dewi Tuggali, SH., No, 33 dated 10 August 2007 with the authorized capital of Rp. 4,000,000,000 entirely issued and paid up. The founding shareholders of the company are Mr. Fandi Arifin (90%) and Mr. Rapli Sukmono (10%), both are Indonesian businessmen of Chinese origins. The notary deed of incorporation was approved by the Ministry of Law and Human Rights in its decision letter No. C-01501.HT.01.01.TH. 2007, dated October 29, 2007.
Then according to the latest revision of notary documents of Mr. Haji Dana Sasmita, SH., No. 50 dated 16 December 2008 the company board of director and the board of commissioner reappointed to lead and runs of the company’s operation. The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-44044.AH.01.02.TH.2009 dated September 7, 2009.
P.T. MG has been operating since 2007 engaged in the field of trading, import and distribution of agriculture commodities products. The merchandise goods product including are garlic, red chili, groundnuts, green peas, green mung, cloves, peanuts, split peanuts etc. According information from the Ministry of Trade, the company is engaged in import of various agriculture commodities products which imported from China, India, USA, Madagascar, Vietnam and Mozambique. P.T. MG import of ground nut through RIZHAO DASHAN FOODS CO., LTD., China; origin green mung through Mozambique Origin Green Mung; green peas through Canadian Green Peas Packed; clove through Madagascar Peanuts and Madagascar Origin Clove of Madagascar; green peas thorough Walker Seeds Ltd., of Savannah, Georgia, USA.
Walker Seeds Ltd. engages in sourcing, processing, marketing, distributing, and exporting specialty crops in North America and internationally. The company’s product portfolio includes various grades of whole and split lentils, such as laird, richlea, eston, red, red split, feed, and Chinese green lentils; whole and split peas, including whole green, split green, whole yellow, yellow split, maple, marrowfat, Austrian winter, and feed peas; chickpeas comprising Kabuli and desi chickpeas, B90/Amit, and chana dhal; and canaryseeds, such as canaryseed 99/4 and glaborous canary seeds. It also offers beans, including pinto, black, faba, split faba, yellow, and navy beans; oilseeds comprising canola. The whole products marketed locally through traditional markets, trader of agriculture and others in Jakarta, Tangerang, Banten Province and others. Meanwhile the clove supplied to various cigarettes industries in Central Java and East Java. We observe the operation of P.T. MG is classified a small size company of its kinds with operation had been growing slowly in the last three years.
We have noticed that the demand for agricultural products had increased some 10% to 11% per annum in the last five years in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 6% to 7% per annum. The present market situation for agricultural products is very competitive for a large number of similar companies operating in the country. Meanwhile, competition is quite heavy in the export import of agricultural products with many companies now doing business in this field in Indonesia. We consider P.T. MG to be in a quite favorable position for having already got hold of a steady clientele in the country and abroad.
Until this time P.T. MG has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. MG 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. 7.5 billion rose to Rp. 8.0 billion in 2011 increased to Rp. 8.5 billion in 2012 and projected to go on rising by at least 4% in 2013. The operation in 2012 yielded an estimated net profit of at least Rp. 510 million and the company has an estimated total networth of at least Rp. 4.0 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. MG is led by Mr. Rapli Sukmono (45) a businessman with experience in trading, import and distribution of agriculture commodities products. 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. MITRATAMA GLOBALINDO is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.93 |
|
UK Pound |
1 |
Rs.91.81 |
|
Euro |
1 |
Rs.78.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.