|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
C.V. PRATAMA
MANDIRI |
|
|
|
|
Registered Office : |
Jl. Jend. Gatot Subroto
No. 333 Medan, North Sumatra |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
Legal Form : |
Partnership With Sleeping Partner |
|
|
|
|
Line of Business : |
Trading, Import and Distribution of Agricultural Products |
|
|
|
|
No. of Employees : |
12 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 more than 6% annually in 2010-12. 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 :
C.V. PRATAMA MANDIRI
Address :
Head Office
Jl. Jend. Gatot Subroto No.
333
Medan, North Sumatra
Indonesia
Phone -
(62-61) 4536584, 75112904
Fax - (62-61) 4146404
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
2002
Legal Form :
C.V. (Commanditaire Vennootschap) or partnership with sleeping partner
Company Reg. No. :
Not Required
Company Status :
National Private Company
Permit by the Government Department :
Not Available
Related Company :
None
Capital Structure :
Authorized Capital - Rp.
500 million
Owners :
a. Mr. Ferry Kelana (Active
Partner)
b. Mrs. Harfrinda (Silent Partner)
Lines of Business :
Trading, Import and Distribution of Agricultural Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2002
Brand Name :
None
Technical Assistance :
None
Number of Employee :
12 persons
Marketing Area :
Local - 100%
Main Customers :
a. Traditional Markets
b. Retailer and Agent of Agriculture Products
c. Food and Beverage Industries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI SAMPOERNO
d. C.V. PUTRA NUSA
e. C.V. SUMBER BUMI JAYA
f. C.V. ARSAM PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank
KESAWAN Tbk
Jl. Pemuda No. 5
Medan, North
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Jl. P.
Diponegoro No. 15
Medan,
North
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 13.7 billion
2011 – Rp. 15.6 billion
2012 – Rp. 18.0 billion
Net Profit (estimated) :
2010 – Rp. 755 million
2011 – Rp. 860 million
2012 – Rp. 990 million
Payment Manner :
Above Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Ferry Kelana
Board of Commissioners :
None
Signatories :
Director (Mr. Ferry Kelana) is only the
authorized person to sign the loan on behalf of the company
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below Average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
C.V. PRATAMA MANDIRI (C.V. PM) was established in 2002 in Medan, North
Sumatra with the legal status of C.V. (Commanditaire Vennootschap) or
Partnership with Sleeping Partner. The founding owners of the company are Mr.
Ferry Kelana as the active partner and Mrs. Harfrinda as silent partner. Both
of are Indonesian business family of Chinese extraction. As in common in cases
of companies with C.V. status, there is no mention in the company’s notary act
of its capital structure. But going by the company’s conditions, we estimate
its capital at some Rp. 500 million and it will be rising in line with the
progress of its business operation.
C.V. PM had been operating in 2002 in trading, importer and distribution
of agricultural products. Miss Yuni, a
senior staff of the company explained that the company imported of agricultural
products such as garlic, shallot, onion, peanut from China, India, Vietnam and
Myanmar. Then the whole products
supplied to traditional markets and retailers in Medan and its
surrounding. C.V. PM also directly
supplied of peanut and snack food industries located in North Sumatra like PT.
Surya Indah Food, CV. Manisan Sumatra and others. We observed that C.V. PM is classified as a
small-sized company of its kind in the country of which the operation has been
growing 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 C.V. PM to be in a quite favorable
position for having already got hold of a steady clientele in Medan and
surroundings.
Until this time C.V. PM has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
We observed that total sales turnover of the company in 2010 amounted to Rp.
13.3 billion increased to Rp. 15.6 billion in 2011 rose again to Rp. 18.0 billion
in 2012 and projected to go on rising by at least 10% in 2013. The operation in 2012 yielded an estimated
net profit of at least Rp. 990 million and the company has an estimated total
networth 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
company usually pays its debts punctually to suppliers.
The management of C.V. PM is headed by Mr. Ferry Kelana (40), a businessman
with experience for some 11 years in trading, import and distribution of
agricultural products. In daily
activities, he is assisted by a number of professional and expert in the
business. They are having maintained a wide business relation with private
businessmen at home and abroad as well as with government authorities. The
management’s reputation in said business is sufficiently fairly good. The
company’s litigation record is clean and it has not registered with the black
list of Bank of Indonesia. C.V. PRATAMA
MANDIRI is appraised fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.