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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. IN TANAH AIR |
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Registered Office : |
Jalan Percetakan Negara No. 764-C Jakarta Pusat, 10520 |
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Country : |
Indonesia |
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Date of Incorporation : |
01.09.2004 |
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Com. Reg. No.: |
No. AHU-29106.AH.01.02.TH.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Exporter of Agricultural Commodities Products |
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No. of Employees : |
5 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
Name of Company :
P.T. IN TANAH AIR
Address :
Head Office
Jalan Percetakan Negara No. 764-C
Jakarta Pusat, 10520
Indonesia
Phone -
(62-21) 425 4861
Mobile Phone - 0852 10381820 Mr.
Hendro Nurdiyanto
Fax - (62-21) 425 4861
E-mail - gegas2000@gmail.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
1 September 2004
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law
and Human Rights
- No. C-23292
HT.01.01.TH.2004
Dated 17 September 2004
- No.
AHU-29106.AH.01.02.TH.2010
Dated 8 June 2010
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 02.311.048.9-024.000
Related Company :
None
Capital Structure :
Authorized Capital : Rp.
200,000,000.-
Issued Capital : Rp. 150,000,000.-
Paid up Capital : Rp. 150,000,000.-
Shareholders/Owners :
a. Mr. Muhammad Imron -
Rp. 25,000,000.-
Address : Cempaka
Putih Barat, RT. 004 RW. 006
Kelurahan Cempaka Putih
Barat, Kecamatan
Cempaka Putih, Jakarta
Pusat
Indonesia
b. Mrs. Devi Roza Krisnandhi
Kausar -
Rp. 25,000,000.-
Address : Taman Sari Pesona Bali B 3 No. 10, RT. 06
RW. 015, Kelurahan
Pisangan, Kecamatan
Ciputat, Tangerang, Banten Province
Indonesia
c. Mr. Agustan -
Rp. 25,000,000.-
Address : Taman Sari Pesona Bali B 3 No. 10, RT.
06
RW. 015, Kelurahan
Pisangan, Kecamatan
Ciputat, Tangerang, Banten Province
Indonesia
d. Mr. Swasetyo Yulianto -
Rp. 25,000,000.-
Address : Jl. Permata Biru II J. 6 No. 3, RT. 009 RW. 002
Kelurahan Kelapa Gading
Timur, Kecamatan
Kelapa Gading, Jakarta
Utara
Indonesia
e. Mr. Djoko Nugroho - Rp. 25,000,000.-
Address : Jl.
Anuraga No. 18
Kelurahan Cilandak Barat,
Kecamatan
Cilandak, Jakarta Selatan
Indonesia
f. Mrs. Lena Sumargana -
Rp. 25,000,000.-
Address : Jl. Semarang CI/10 KIG
Kelurahan Bekasi Selatan,
Kecamatan Bekasi
Bekasi, West Java
Indonesia
Lines of Business :
Trading and Exporter of Agricultural Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2005
Brand Name :
In Tanah Air
Technical Assistance :
None
Number of Employee :
5 persons
Marketing Area :
Export - 100%
Main Customer :
Buyers in Japan, China, and India
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM INDORONA
b. P.T. DAKAI IMPEX
c. C.V. PUTRA NUSA
d. P.T. SUPA SURYA NIAGA
Business Trend :
Growing
Banker :
P.T. Bank MANDIRI Tbk
Jalan Matraman No. 58
Jakarta Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 5.0 billion
2011 – Rp. 5.5 billion
2012 – Rp. 6.0 billion
Net Profit (estimated) :
2010 – Rp. 250 million
2011 – Rp. 275 million
2012 – Rp. 300 million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Mira Sofa
Director - Mr. Fathoni Hidayat
Board of Commissioners :
President Commissioner - Mrs. Leni Sintiani
Commissioners - Mr. Hendro Nurdiyanto
Signatories :
President Director (Mr. Mira Sofa) or
the Director (Mr. Fathoni Hidayat) which must be approved by Board of
Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. IN TANAH AIR (P.T. ITA) was established in Jakarta based on notary
deed of Mr. Darmawan Tjoa, SH., No. 1 dated 1 September 2004 with the
authorized capital of Rp. 200,000,000 issued capital of Rp. 100,000,000 fully
and paid up. The founding and shareholders of the company are Mr. Muhammad Imron,
Mrs. Devi Roza Krisnandhi Kausar, her husband Mr. Agustan and Mr. Swasetyo
Yulianto, they are indigenous businessmen. The company notary deed has been
changed and according to the latest revision of notary documents of Mr.
Darmawan Tjoa, SH., No. 40 dated 26 May 2010 the company issued capital was
increased to Rp. 150,000,000 entirely paid up. On the same occasion Mr. Djoko
Nugroho and Mrs. Lena Sumargana entered into the company as new shareholders.
With this development the composition of its shareholders has been changed to
become Mr. Muhammad Imron (16.66%), Mrs. Devi Roza krisnandhi Kausar (16.66%),
Mr. Agustan (16.66%), Mr. Swasetyo Yulianto (16.66%), Mr. Djoko Nugroho
(16.66%) and Mrs. Lena Sumargana (16.66%). The deed of amendments was approved
by the Ministry of Law and Human Rights in its decision letter No.
AHU-29106.AH.01.02.TH.2010 dated June 8, 2010.
P.T. ITA started to be operating since 2005 dealing with trading and
exporter of agricultural commodities products. The company sells and exported
of coconut shell charcoal, chromite, gum rosin, cocoa powder, coconut fiber,
coconut mat, sea shell, cuttlefish bone, palm kernel meal, bagasse growing
media, fresh coconut, copra, copra meal and copra pellet and crab shell. The
whole products obtained from Sumatra, Java, Sulawesi, Kalimantan and others
islands. Mr. Hendro Nurdiyanto, Commissioner of the company explained the whole
product is exported to China and Japan. Meanwhile currently P.T. ITA is still
in the process of assessment for gum rosin export to India. Mr. Hendro
Nurdiyanto also added the gum rosin products exported through Surabaya Port to
their customers DURGA ENTERPRISES of India. We observe that P.T. ITA is
classified a small-size company of its kinds with operation has been growing and
developing well 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.
ITA 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. ITA has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of the company 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. 5.0 billion rose to Rp. 5.5 billion in 2011
increased to Rp. 6.0 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. 300 million and the company has an estimated total networth of at least Rp.
1.0 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. ITA is led by Mrs. Mira Sofa (37) a professional
manager with experience in trading, and export agricultural commodities
products. She is the wife of Mr. Hendro Nurdiyanto (43) as Commissioner. Daily
activity she is assisted by Mr. Fathoni Hidayat (32) 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. IN TANAH AIR is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
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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.