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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. KHARISMA
SATYA JAYA |
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Registered Office : |
TCT Building, 11th Floor, Jl. M.H. Thamrin No. 81, Jakarta 10310 |
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Country : |
Indonesia |
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Date of Incorporation : |
11.01.2012 |
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Com. Reg. No.: |
No. AHU-04859.AH.01.01.TH.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Export Import and General Trading of Agricultural Products |
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No. of Employees : |
6 persons |
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 6.1% 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.
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Source : CIA |
Name of Company :
P.T. KHARISMA SATYA JAYA
Address :
Head Office
TCT Building, 11th Floor
Jl. M.H. Thamrin No. 81
Jakarta 10310
Indonesia
Phones -
(62-21) 3522122, 57945504
Fax - (62-21) 34830276
Email - suresh.chandiramani@gmail.com
Building Area -
33 storey
Building Space -
120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
11 January 2012
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability
Company
Company Reg. No. :
The Ministry of Law and Human Rights
No. AHU-04859.AH.01.01.TH.2012
Dated 31 January 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP - Pending
Related/Affiliated Companies :
a. P.T. AMESH INDAH INTERNATIONAL (Export
Import of Steel and Iron, Chemical, Alumina
Hydrate and Garment Products)
b. P.T. ISPAK (Export, Import and General
Trading)
c. Etc.
Capital Structure :
Authorized Capital - Rp. 1,000,000,000.-
Issued Capital - Rp. 750,000,000.-
Paid up Capital - Rp. 750,000,000.-
Shareholders/Owners :
a. Mr. Suresh Kishinchand Chandiramani - Rp. 300,000,000.- (40%)
Address : Jl. Merpati Block A-20,
Gunung Sahari, Kemayoran
Jakarta Pusat
Indonesia
b. Mrs. Kharisma Suresh Chandiramani -
Rp. 300,000,000.- (40%)
Address
: Jl. Merpati Block A-20,
Gunung Sahari,
Kemayoran
Jakarta Pusat
Indonesia
c. Mr. Kishinchand Moolchand Chandiramani - Rp. 150,000,000.-
(20%)
Address : Jl. Pintu Air Raya No. 38-C
Pasar Baru, Sawah Besar
Jakarta Pusat
Indonesia
Lines of Business :
Export Import and General Trading of
Agricultural Products
Production Capacity :
None
Total Investment :
None
Started Operation :
April 2012
Brand Name :
None
Technical Assistance :
None
Number of Employee :
6 persons
Marketing Area :
Export
- 50%
Local
- 50%
Main Customer :
Buyers in India, USA, Japan and local
distributors
Market Situation :
Very Competitive
Main Competitors :
a. P.T. FORBESTINDO INTITAMA
b. P.T. HOME DECOR
c. P.T. WAHANAKARYA SUPPLAINDO
d. P.T. KENCANA GRAHA GLOBAL
e.
Etc.
Business Trend :
Growing
Banker :
STANDARD CHARTERED Bank
Wisma Standard Chartered Bank
Jalan Jend. Sudirman No. 33 A
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2012 – Rp. 2,400 million
Net Profit (estimated) :
2012 – Rp.110 million
Payment Manner :
Fairly
Financial Comments :
Satisfactory
Board of Management :
President
Director - Mr. Suresh Kishichand
Chandiramani
Director - Mrs. Kharisma Suresh Chandiramani
Board of Commissioner:
Commissioner - Mr. Kishinchand Moolchand Chandiramani
Signatories :
President
Director (Mr. Suresh Kishinchand Chandiramani) or the Director (Mrs. Kharisma
Suresh Chandiramani) which must be approved by board of commissioner
Management Capability :
Fairly
Business Morality :
Fairly
Credit Risk
Above average
Credit Recommendation :
Credit should be extended under
guarantee
Proposed Credit
Limit :
C.O.D. To small amount
P.T. KHARISMA SATYA JAYA
(P.T. KSJ) was incorporated in Jakarta based on notary deed of Titiek Irawati
Sugianto, SH., No. 9 dated 11 January 2012 with an authorized capital of Rp.
1,000,000,000.- of which Rp. 750,000,000.- was issued and fully paid up. The founding shareholders of the company are
Mr. Suresh Kishinchand Chandiramani (40%), his wife Mrs. Kharisma Suresh
Chandiramani (40%) and his father Mr. Kishinchand Moolchand Chandiramani
(20%). They are Indonesian
businessmen/woman of Indian descent.
The company notary act was approved by the Ministry of Law and Human
Rights in its Decision Letter No. AHU-04859.AH.01.01.Tahun 2012 dated 31
January 2012. No changes have
been effected in term of its shareholding composition and capital structures to
date.
We observe that the founder and
the majority share owner of the company namely Mr. Suresh Kishinchand
Chandiramani,is also the founder and the majority business stake owner of P.T.
AMESH INDAH INTERNATIONAL dealing with export import of steel and iron,
chemical, alumina hydrate and garment products and P.T. ISPAK (import, export
and general trading).
Pursuant to the company’s notary deed, P.T. KSJ engaged to operate in
trading, import-export, distribution, supplier, transportation, agriculture,
forestry, industry and services. The
Company’s registered office located at Jalan Pintu Air No. 38-C, Central
Jakarta and the company can open branch offices or representative offices at
home and abroad.
But, we observed that the company’s head office located at TCT Building,
11th Floor, Jl. M.H. Thamrin No. 81, Central Jakarta. P.T. KSJ has been in operation April 2012
dealing with export-import and general trading of agriculture products such as
cocoa beans, nutmeg, mace, clove, spice, gum rosin, turpentine oil, dammar and
others. We observe that P.T. KSJ is
classified as a new company of its kind in the country of which the operation
has been growing slowly. But, Mr. Suresh Kishinchand Chandiramani (president
director of the company) is a businessman of Indian origins who experienced for
more than 25 years in the field of export-import and general trading. He is
also as president director of PT. Istana Palapa Kertas (PT. ISPAK).
We have noticed that the demand for agricultural products and other
spices had increased some 8% to 10% per annum in the last five years in line
with the growth of various food and beverage products, traditional and herbal
medicine, etc. In the coming years, the
growth rate of demand is estimated at about 7% to 8% 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 trading and distribution of beauty and milk soap, and fruit
juice products with many companies now doing business in this field in
Indonesia. P.T. KSJ 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 Rp 750
million as stated in Articles of Association of the company. The financial
condition of the company still depends on the financial condition of its
shareholders. The management of P.T. KSJ
is very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total sales turnover of the company as of April to
December 2012 amounted to Rp. 2,400 million with a net profit of Rp. 110
million. t is projected that total sales
turnover of the company will increase at least 10% in 2013. We observe that P.T. WARIS is supported by
financially strong behind it. So far, we did not heard that the company having
been black listed by the Central Bank (Bank Indonesia).
Pursuant to the Company’s notary deed, P.T. KSJ is headed Mr. Suresh
Kishinchand Chandiramani (54) as President Director. In daily activities, he is
assisted by his wife Mrs. Kharisma Suresh Chandiramani (49) as Director. 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. Since
this company (PT. KSJ) just about one year in operation commercially, so we
recommend caution when going to provide fresh loans to them. Or it should obtain sufficient guarantees of all
shareholders.
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 |
|
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 |
|
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.