|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. LOTUSINDO |
|
|
|
|
Registered Office : |
Jalan
By Pass Ngurah Rai, Lingkungan Perarudan, Kelurahan Jimbaran, Bali, 80361 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Year of Establishment : |
1991 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-29146 |
|
|
|
|
Legal Form : |
P.T. (Perseroan Terbatas) or Limited Liability Company |
|
|
|
|
Line of Business : |
Tour
and Travel Services |
|
|
|
|
No. of Employees : |
30 |
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 |
|
|
|
|
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 :
P.T. LOTUSINDO
Address
:
Head Office
Jalan
By Pass Ngurah Rai
Lingkungan
Perarudan, Kelurahan Jimbaran
Bali,
80361
Indonesia
Phones -
(62-361) 701001, 7442092
Fax - (62-361) 701002-3
E-mail - bali@lotusasiatours.com
Website - http://www.lotusasiatours.com
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
1991
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
- No. AHU-59810.AH.01.02.TH.2009
Dated 8 December 2009
- No. AHU-AH.01.10-29146
Dated 14 September 2011
Company
Status :
Private
National Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 01.413.235.1-905.000
Related
Company :
P.T.
TRADEINDO (Investment Holding)
Capital
Structure :
Authorized
Capital : Rp.
50,000,000.-
Issued
Capital :
Rp. 25,000,000.-
Paid
up Capital :
Rp. 25,000,000.-
Shareholders/Owners
:
a. P.T. TRADEINDO -
Rp. 24,750,000.-
Address
: Jl. Kesumasari No. 5
Sanur, Denpasar Selatan
Bali
Indonesia
b. Mr. Rudolfo Giusti De Marle -
Rp. 250,000.-
Address : Jl. Kesumasari No. 5
Sanur, Denpasar Selatan
Bali
Indonesia
Lines
of Business :
Tour
and Travel Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1991
Brand
Name :
Lotus
Asia Tour
Technical
Assistance :
None
Number
of Employee :
30
persons
Marketing
Area :
Local - 100%
Main
Customer :
Individuals
and Corporate
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. MAHKOTA TOURS
b. P.T. MANUMADI WISATA
c. P.T. MATAHARI KORIN
d.
P.T. MEDIA TOURS
e.
Etc
Business
Trend :
Growing
Banker
:
P.T.
Bank CENTRAL ASIA Tbk
Jalan
By Pass Ngurah Rai
Bali
Province
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2010
– Rp. 4.5 billion
2011
– Rp. 5.3 billion
2012
– Rp. 6.2 billion
Net
Profit (estimated) :
2010
– Rp. 0.3 billion
2011
– Rp. 0.5 billion
2012
– Rp. 0.6 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Iskandar Francisco Giusti De Marle
Director - Mr.
Rodolfo Giusti De Marle
General Manager - Mr. Giliano Ponari
Board of Commissioners :
Commissioner - Mrs. Desyanti Latifah
Signatories :
President
Director (Mr. Iskandar Francisco Giusti De Marle) or the Director (Mr. Rodolfo
Giusti De Marle) which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small
amount – periodical review
P.T. LOTUSINDO or trading style Lotus Asia Tours is a
private national company which established in 1991 by P.T. TRADEINDO and Mr.
Rodolfo Giusti De Marle. According to the latest revision of notary documents
of Mr. I Made Puryatma, SH., No. 35 dated 28 July 2011 the company authorized
capital was amounted at Rp. 50,000,000 issued capital of Rp. 25,000,000 fully
and paid up. According to the latest revision of notary documents the
composition of its shareholders are P.T. TRADEINDO (99%) and Mr. Rodolfo Giusti
De Marle (1%). The latest revision of notary documents was approved by the
Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-29146
dated September 14, 2011.
P.T. LOTUSINDO or Lotus Asia Tours is a small size
company dealing with tour and travel agency services. The company has been
operating since 1991 by provide services such as tour/package tours,
accommodation, tours/ transfer. P.T. LOTUSINDO or Lotus Asia Tours is tour
operators that owns and operates five destination management companies in
Southeast Asia such as Singapore, Malaysia, Myanmar and Indonesia. Since its
incorporation in 1991 in beautiful Bali-Indonesia, Lotus Asia Tours has grown
rapidly to become one of the key operators in the region's travel industry.
They acquire new clients continuously due to our ongoing marketing efforts and
their reputation for excellent personal service. Lotus Asia Tours currently
represent over 100 major Tour and Travel Operators worldwide. Due to the
demand, they have opened branch offices in Lombok, Kuala Lumpur, Singapore and
Yangon, Myanmar. Lotus Asia Tours also cover Thailand, Vietnam, Cambodia and
Laos through Asco Lotus Travel.
In its operation, Lotus Asia Tours is now one of the
major players in the industry with a volume of over 15.000 pax, divided
approximately in 70% FIT and 30% GIT and Incentives. Lotus Asia Tours
represents over 100 Tour Operators worldwide, mostly from Europe, and acquires
new clients on a regular basis thanks to its consistent marketing efforts and
its reputation of excellence. The Agency covers all of Indonesia from its Bali
headquarters (except for Lombok were we have a separate office) with the assistance
of selected representatives in various parts of the archipelago, which have
been trained to Lotus Asia Tours' high standards of service.
Lotus Asia Tours covers Sulawesi from its Bali
headquarters with the assistance of selected representatives in various parts
of Sulawesi, which have been trained to Lotus Asia Tours' high standards of
service. Lush rainforests, white sandy beaches, indigenous traditions, an
unique animal world, magnificent shipbuilding, Sulawesi has it all and now it
is your turn to explore this world of a rich mixture of nature and culture.
Most tourists only go to Tana Toraja, which is known for its ancient
traditions, and its unique culture that rivals that of the Balinese. But there
is so much more to be seen such as the traditional shipbuilding in Bira, the
coral reefs of Bunaken island, the Dumoga Bone National Park with its rare and
specific animal species, and much more. We observe the operation of P.T.
LOTUSINDO or Lotus Asia Tours has been growing and developing well in the last
three years.
Generally outlook, the leading business of the company is
in tour & travel services, hotel reservation, etc. The demand for tour and
travel services as well as hotel rooms has been fluctuating in line with the
foreign tourist influx to Indonesia within the last five years. Besides, the
Indonesian economy has weathered the storm and is currently accelerating. As
for the global economy, it is also in a recovery phase and this recovery is
expected to continue in 2010. Overall, the prospects for the Indonesian economy
in 2010 are brighter than in 2009. The global economic recession has exerted
significant downward pressures on the Indonesia economy. In the first quarter
of 2009 the economy grew by 4.4 percent, or significantly lower than in the
fourth quarter of 2008 when the economy grew by 5.2 percent and lower than in
the third quarter of 2008 when the economy grew by 6.4 percent.
Eventually, the impact of the fiscal and monetary stimuli
on the economy could be seen. This was reflected in the brisker pace of growth
in Indonesia despite the global economic recession. In the second quarter of
2009 the Indonesian economy grew by 4.0 percent, and in the third quarter of
the year it grew by 4.2 percent. The economic is expected to accelerate further
in the fourth quarter of 2009. Ant for the whole of 2009 the Indonesian economy
is expected tot grow by 4.7 percent and 6.0 percent in 2010.
In the third quarter of 2011 Indonesia’s economy grew at
6.5%, and in the fourth quarter of the year the figure is expected to stay at
the same level. Thus, in 2011 the country’s economy grew at 6.5%, higher than
6.1% in 2010. The good news is that the manufacturing sector showed better
growth. The foreign tourists arriving and staying in 2008 reached 6,234,497
people rose to 6,323,730 people in 2009. This total increased by 89,233 people
of 14.31% if compared with that in 2007 reaching 5,505,759 people. Domestic
tourists visiting and staying in star hotels in 2008 were registered 14,847.9
thousand people. If compared with the condition in 2007 of 13,113.2 thousand
people, there was an increase of 1,734.7 thousand people or 13.23%.
The Total Growth of
Foreign Tourists Visiting Indonesia
Based on Port
Entrance in 2005-2012
|
Year |
Number of Foreign Tourist |
|
2005 |
5,002,101 |
|
2006 |
4,871,351 |
|
2007 |
5,505,759 |
|
2008 |
6,234,497 |
|
2009 |
6,323,730 |
|
2010 |
7,002,944 |
|
2011 |
7,649,731 |
|
2012 |
8,044,462 |
Until this time P.T. LOTUSINDO 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. 4.5 billion
rose to Rp. 5.3 billion in 2011 increased to Rp. 6.2 billion in 2012 and
projected to go on rising by at least 6% in 2013. The operation in 2012 yielded
an estimated net profit of at least Rp. 0.6 billion and the company has an
estimated total networth of at least Rp. 1.1 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. LOTUSINDO is led by Mr. Iskandar
Francisco Giusti De Marle (32) a professional manager with experience in tours
and travel services. Daily activity he is assisted by his father Mr. Rodolfo
Giusti De Marle (70) 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. LOTUSINDO or Lotus Asia Tours is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
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.