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Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. FAVEO ENTERTAINMENT - 239637 |
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Registered Office : |
Jalan
Ir. H. Juanda 3 No. 11 A Jakarta Pusat, 10210 |
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Country : |
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Financials (as on) : |
2012 |
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Date of Incorporation : |
04.08.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is a game online provider services |
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No. of Employees : |
31 |
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) |
|
|
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 |
Source
: CIA
P.T. FAVEO ENTERTAINMENT
Head Office
Jalan Ir.
H. Juanda 3 No. 11 A
Jakarta Pusat, 10210
Indonesia
Phones - (62-21) 384 6551 (Hunting)
Fax - (62-21) 384 6552
E-mail - faveo@faveo.com
Website - http://www.faveo.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
:
4 August 2010
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law
and Human Rights
- No. AHU-42831.AH.01.01.TH.2010
Dated 31 August 2010
- No. AHU-04784.AH.01.02.TH.2011
Dated 28 January 2011
- No. AHU-AH.01.10-23792
Dated 29 June 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 31.224.151.6-045.000
Related Company :
None
Capital Structure :
Authorized Capital : Rp. 6,000,000,000.-
Issued Capital : Rp. 6,000,000,000.-
Paid up Capital : Rp. 6,000,000,000.-
Shareholders/Owners :
a. Mr. Daniel Tirto
Utomo -
Rp. 1,224,000,000.-
Address : Puri Indah Block A.3 No. 7, RT. 002 RW. 008
Kelurahan Kembangan
Selatan, Kecamatan
Kembangan,
Jakarta Barat
b. Mr. George Aries -
Rp. 1,224,000,000.-
Address : Jl. Bungur Besar No. 78-A, RT.
006 RW. 007
Kelurahan Gunung Sahari
Selatan, Kecamatan
Kemayoran,
Jakarta Pusat
c. Mr. Reagen
Rahardjo -
Rp. 1,224,000,000-
Address : Jl. Danau Agung IV Block E.8 No. 9.A, RT. 005
RW. 016, Kelurahan Sunter
Agung, Kecamatan
Tanjung Priok, Jakarta
Utara
Indonesia
d. Mr. Edward Putra
Gunawan -
Rp. 984,000,000.-
Address : Jl. Pluit Samudra Raya No. 16,
RT. 007
RW. 005, Kelurahan
Pluit, Kecamatan
Penjaringan,
Jakarta Utara
Indonesia
e. Mr. Salim Santoso -
Rp. 586,000,000.-
Address : Jl. Sukarjo Wiropranoto No. 46, RT.
001 RW. 001
Kelurahan Kebon Kelapa,
Kecamatan Gambir
Jakarta Pusat
Indonesia
f. Mr. Charles
Tamstil -
Rp. 562,000,000.-
Address : Jl. Pluit Timur Block
K Utara/1, RT. 002
RW. 009,
Kelurahan Pluit, Kecamatan
Penjaringan,
Jakarta Utara
Indonesia
g. Mr. Andre Agasi Lukas - Rp. 196,000,000.-
Address : Taman Kebon Jeruk Block P. II No. 6, RT. 005
RW. 012, Kelurahan
Kedoya, Kecamatan
Kebon Jeruk,
Jakarta Barat
Indonesia
Lines of Business :
Game Online Provider Services
Production Capacity :
None
Total Investment :
None
Started Operation :
September 2010
Brand Name :
Faveo Entertainment
Technical Assistance :
None
Number of Employee :
31 persons
Marketing Area :
Local - 100%
Main Customer :
Games Station Services
Market Situation :
Very Competitive
Main Competitors :
a. P.T. DIGITAL PRIMA INTERNATIONAL
b. P.T. GEMSCOOL LOST SAGA INDONESIA
c. P.T.
LYTO DATARINDO ORTUNA
d. P.T. MEGAXUS INFOTECH
e. P.T. PRODIGY ININFINITECH
Business Trend :
Growing
B a n k e r :
P.T. Bank CENTRAL ASIA Tbk
Jalan Ir.
H. Juanda No. 18
Jakarta
Pusat
Indonesia
Auditor
:
Internal
Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 2.0 billion (September – December)
2011 – Rp. 11.8 billion
2012 – Rp. 12.5 billion
Net Profit (estimated) :
2010 – None
2011 – Rp. 0.9 billion
2012 – Rp. 1.1 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board
of Management :
President
Director -
Mr. Reagen Rahardjo
Directors - a. Mr. Daniel Tirto
Utomo
b. Mr. George Aries
Board
of Commissioners :
President
Commissioner - Mr. Salim Santoso
Commissioner - Mr. Edward Putra Gunawan
Signatories
:
President Director
(Mr. Reagen Rahardjo) or one of the Directors (Mr. Daniel Tirto Utomo or Mr.
George Aries) 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
P.T. FAVEO ENTERTAINMENT (P.T. FE) was established in Jakarta based on notary deed of Mr. Syafi’I, SH., No. 04 dated 4 August 2010 with an authorized capital of Rp. 550,000,000 wholly issued and paid up. The founding and shareholders of the company are Mr. Reagen Rahardjo and Mr. George Aries, both are Indonesian businessmen of Chinese extraction. The company notary deed had been changed a couple of times. In December 2011 Mr. Daniel Tirto Utomo, Mr. Charles Tamstil, Mr. Edward Putra Gunawan, Mr. Salim Santoso and Mr. Andre Agasi Lukas entered into the company as new shareholders. Then according to the latest revision of notary documents of Mrs. Winarti Lukman Widjaja, SH., No. 06 dated 11 May 2012 the company authorized capital was increased to Rp. 6,000,000,000 wholly issued and paid up. With this development the composition of its shareholders has been changed to become Mr. Daniel Tirto Utomo (20.4%), Mr. Reagen Rahardjo (20.4%), Mr. George Aries (20.4%), Mr. Edward Putra Gunawan (16.4%), Mr. Salim Santoso (9.8%), Mr. Charles Tamstil (9.4%) and Mr. Andre Agasi Lukas (3.2%) . The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-23792 dated June 29, 2012.
P.T. FE has been operating since September 2010 engaged in the field online game provider services. The company is an online game publisher in Indonesia which has released a game title DYNASTI WAR. Dynasty War, a free to play web-based strategy game, set in the mysterious Han Dynasty era that tells customer the epic war of The Three Kingdom. The customer will embark on dangerous yet rewarding quests and form a guild to roam the ancient land with. In addition to these challenges is a wealth of enemies attempting to cross path, overthrow them in intense PvP battles, seize the throne and be the king of kings. The company also has launched another online game with titles Skywind Heroes, The Cone Fx Lifestyle X’Intent.
The first is the presence of a mobile application
version of Dynasty War in Indonesia, where enthusiasts can download and play an
online game themed app legend of the Three Kingdoms in China on smart phones.
Even for some of the features in it instead would be much easier and smoothly
when played via the mobile app. The second product is a browser -based online
game titled 'SKYWIND Heroes Online ' which would seem to be the latest flagship
of P.T. FE (Faveo – e) for release in 2013 . SKYWIND Heroes combines classic
type of era RPG Chrono trigger or Final Fantasy, but now the service will be
presented to play for free, easy and play together many players at one. P.T. FE
needs to extend the discussion related to these two products, because as
features and content in SKYWIND Heroes supposedly very much and multi-layered
so that player would certainly not ever feel bored playing it. Ranging from 6
character classes based on the style of play and special skills that you like,
8 talent skill customization options, more than 100 kinds of Pet, Pet Skill
added features available dozens of kinds and types to customize player Pet
respectively.
Still there are certainly many common features and other supporters of Heroes
SKYWIND that player might find in other online games, but is present as a
single unit in this game only.
We observe the operation of P.T. FE or Faveo has been
growing and developing well in the last three years.
The potential of
the gaming industry in Indonesia is huge, both in terms of talent or supermarket.
Since the early 2000's, so many foreign game developers such as China, Korea,
U.S., Europe, etc. to Indonesia, to the extent that it raises boom time game.
Now there are several companies outside developers like Gameloft games are
opening branches in Indonesia and a major game publishers like that SquareEnix
has released Final Fantasy games in the Indonesian language. When viewed from
the internal side, the sheer number of local developers has also increased
rapidly in the last two years, especially in big cities like Jakarta, Bandung,
Surabaya, Yogyakarta and other cities. Educational institutions have started to
make a lot of IT majors to the field of specialization Game Development. Boasts
one of the game lovers with the release of ground water is the first online
game in Indonesia MMORPG genre, with the name Nusantara Online (Nusol).
Nationally,
online game users in Indonesia from 2006-2010 grew about 30%. As quoted from
Indonesia Finance Today, according to Product Development Online P.T. Infomedia
Nusantara, Utomo Hexavianto, by 2010 there were already 30 million online game
users in Indonesia, with an average age of users between 17 years to 40 years.
In a survey conducted by the Sharing Vision in 2011, about 18% of mobile users
are gamers. It's not the numbers a bit, though still less with internet access
for browsing, chatting, and social networking. In terms of numbers, the growth
of local game developers tend to grow slowly. "It's simple calculations.
Local game developers do not even reach one percent of the amount compared to
overseas gaming products into the Indonesian market. It is estimated that,
until last year there were 25 new games studio that looks actively selling
products to the market. That number is up five-fold from 2000. If calculated
rude, at least there are only two new studio emerge and survive each year, but
even then sometimes it is not pure but concurrently studio animation studio.
From the market, Indonesia is arguably the greatest potential for the number of
users of social media such as facebook and mobile phone users are very high.
You could say the two potential market is large enough to dimonetize. So, if
you are interested to go into business, the gaming industry, the easiest step
is to sell your game to the AppStore or marketplace like iTunes AppStore, Nokia
Store, or the Android Marketplace.
Until this time P.T. FE has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. FE is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in the first operation September – December 2010 amounted to Rp. 2.0 billion rose to Rp. 11.8 billion in 2011 increased to Rp. 12.5 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. 1.1 billion and the company has an estimated total networth of at least Rp. 6.0 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. FE is led by Mr. Reagen Rahardjo (28) a young businessman and professional manager with experience in online game provider services. Daily activity he is assisted by Mr. Daniel Tirto Utomo (25) and Mr. George Aries (26) as Directors. 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. FAVEO ENTERTAINMENT is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
|
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.