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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. Reza Indonesia |
|
|
|
|
Registered Office : |
Rukan Graha Cempaka Mas Block No. 2, Jl. Let Jend. Suprapto No. 1, Kel. Sumur
Batu, Kec. Cempaka Putih, Jakarta 10640 |
|
|
|
|
Country : |
Indonesia |
|
|
|
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Date of Incorporation : |
19.05.2010 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-34244.AH.01.01.Tahun 2010 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading,
Export-Import and Distribution of Chemicals, Furniture, Garment, etc. |
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|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 |
|
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
Name of
Company:
P.T. REZA INDONESIA
Address :
Head Office
Rukan Graha Cempaka Mas Block No. 2
Jl. Let Jend.
Suprapto No. 1
Kel. Sumur Batu, Kec. Cempaka Putih
Jakarta 10640
Indonesia
Phones -
(62-21) 4206337
Fax - (62-21) 4206337
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
19 May 2010
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Laws and Human Rights
No.
AHU-34244.AH.01.01.Tahun 2010
Dated 07 July
2010
Company Status
:
Foreign Investment
Company (PMA)
Permit by the
Government Department :
The Department
of Finance
NPWP – not
available
Affiliated/Associated
Company :
Not available
Capital
Structure :
Authorized Capital - Rp. 1,806,000,000.-
Issued Capital - Rp. 903,000,000.-
Paid up Capital - Rp.
903,000,000.-
Shareholders/Owners
:
a. Mr. Mir
Asror Ali -
Rp. 451,500,000.- (50%)
Address: Banglore, 55 9th
Main,
4th Cross BTM
Layout 1
India
b. Miss
Munirah -
Rp. 451,500,000.- (50%)
Address: Banglore, 55 9th
Main,
4th Cross BTM Layout 1
India
Lines of
Business :
Trading, Export-Import
and Distribution of Chemicals, Furniture, Garment, etc.
Production
Capacity :
None
Total
Investment :
Equity Capital - Rp. 903.0 million
Started
Operation :
July 2010
Brand Name :
REZA INDONESIA
Technical
Assistance :
None
Number of Employee
:
12 persons
Marketing Area
:
a. Local - 50%
b. Export - 50%
Main Customers
:
Corporate and
Individuals
Market
Situation :
Very Competitive
Main
Competitors :
a. PT. Dimex
Indonesia
b. PT. Adani
Global
c. PT. Almasid
International
d. PT. Bintang
Jaya Makmur
e. PT. Caurmitra
Intisejati
Business Trend
:
Growing
Bankers :
a. P.T.
Bank CENTRAL ASIA Tbk
Cempaka Putih Branch
Jl. Cempaka Putih Raya No. 102 C-D
Jakarta Pusat
b. P.T.
Bank CENTRAL ASIA Tbk.
World
Trade Center
Jl. Jend. Sudirman Kav. 29-31
Jakarta Selatan
Auditor :
Internal Auditor
Litigation :
No detrimental
filling was recorded in our database
Total
Sales/Revenue (estimated) :
2011 – Rp. 1,660
million
2012 – Rp. 4,270
million
2012 – Rp. 6,520
million
Net Profit
(estimated) :
2010 – Rp. 92 million
2011 – Rp. 235
million
2012 – Rp. 360
million
Payment Manner
:
Average
Financial
Comments :
Fairly
Board of Management :
Director -
Mr. Mir Asror Ali
Board of Commissioners :
Commissioner -
Ms. Shaistha Begum
Signatories :
Director (Mr. Mir Asror
Ali) which must be approved by Board of Commissioner (Ms. Shaistha Begum)
Management Capability :
Fairly
Business Morality :
Fairly
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. REZA INDONESIA (P.T. RI) was established
in Jakarta based on Notarial Deed of H. Feby Rubein Hidayat, SH., No. 186 dated
19 May 2010 with the authorized capital of Rp. 1,806,000,000.- of which Rp.
903,000,000.- was issued and fully paid up. The founding shareholders of the
company are Mr. Mir Asror Ali (50%) and Ms. Shaistha begum (50%), both are
Pakistan businessman and businesswoman.
The Article of Association has been approved by the Minister of Law and
Human Rights of the Republic of Indonesia through Decision Letter No. AHU-34244.AH.01.01.Tahun
2010 dated 7 July 2010. No changes have
been effected in term of its shareholding composition and capital structures to
date.
We observed that Mr. Mir Asror Ali is also
working for P.T. OCTAGON RESOURCES as Technical Advisor Marketing. The company was established in 1999’s in
Jakarta by Mr. Syed Asif Abbas and Mr. Mohammad Abbas Husaini, both are
Indonesian businessmen of Pakistan descent.
Pursuant to the company’s notary deed, P.T.
RI engaged to operate in general trading, supplier, general contractor,
development, services, transportation, printing, industry, electrical,
mechanical, agricultural, workshop and others. The Company’s registered office
located at Jl. Letjend Suprapto No. 1, Sumur Batu sub-district, Cempaka Putih
district, Central Jakarta and the company can open branch offices or
representative offices at home and abroad.
According to the results of our investigation we noticed that P.T. RI has been operating
since mid-2010 to deal with trading, import-export and distribution of
chemicals, furniture, garments and others.
Mr. Achmed, a marketing staff of the company said that P.T. RI imports
leather chemical from India for leather tanning industry in Jakarta, Tangerang,
Bekasi, Bogor and Bandung. Besides, P.T.
RI exports furniture and garments like shirts, trouser, jackets, t-shirt and
shoes to Middle East and Mauritius. The
garment products are bought by P.T. RI from various furniture and garment
industries in Jakarta and Bandung (West Java).
Thus, furniture products bought from Central Java like Jepara, Kudus and
Semarang. We
observed that P.T. RI is still relatively new company in trading and
import-export of leather chemicals, furniture and garments 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 903 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. RI is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company as of June to December 2010 amounted to Rp. 1,660 million increased to
Rp. 4,270 million in 2011 and rose again to Rp. 6,520 million with a net profit
of at least Rp. 360 million in 2012. The
company has an estimated total net worth of at least Rp. 2.5 billion. So far,
we did not heard that the company having been black listed by the Central Bank
(Bank Indonesia).
The management of P.T. RI is led by Mr. Mir
Asror Ali (55) a businessman of Pakistan descent with more than 20 years
experience in trading, export and import of leather chemicals, furniture and
garment. In daily activities he is
assisted by Ms. Shiastha Begum (41) as commissioner. The Company’s management has 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.
Since this company
(PT. REZA INDONESIA) just about three years 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 : |
NIT |
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.