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Report Date : |
28.10.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. LANCAR MAJU SEJAHTERA |
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Registered Office : |
Komp. Ruko Enggano Megah Block B No. 9X Jl. Enggano
Raya, Tanjung Priok Jakarta Utara 14310 |
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Country : |
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Date of Incorporation : |
08.07.2008 |
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Com. Reg. No.: |
No. AHU-68161.AH.01.01.Tahun 2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution of Fresh Fruits, Car and Motorcycle
Spare parts, Ceramic Tiles |
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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 : |
Slow |
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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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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 |
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Source
: CIA |
Name of Company :
P.T. LANCAR MAJU SEJAHTERA
Address:
Head Office
Komp. Ruko Enggano Megah Block B No. 9X
Jl. Enggano Raya, Tanjung Priok
Jakarta Utara 14310
Indonesia
Phones -
(62-21) 43800260, 6125764, 6503875
Fax - (62-21) 43800263
Building Area - 3 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
08 July 2008
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
No. AHU-68161.AH.01.01.Tahun 2008
Dated 23 September 2008
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP - Not available
Related/Affiliated Companies :
a. P.T. MITRA MENARA PRIMA (Freight Forwarding Services)
b. P.T. MITRA SEJATI MANUNGGAL (Export and Import Services)
c. Etc.
Capital Structure :
Authorized Capital - Rp.
3,000,000,000.-
Issued Capital - Rp.
2,000,000,000.-
Paid up Capital - Rp.
2,000,000,000.-
Shareholders/Owners :
a. Mr. Gandi Wijaya - Rp.
1,800,000,000.-
Address : Jl. Warakas I No. 80, RT.14/01
Kel. Warakas, Tanjung Priok
Jakarta Utara
Indonesia
b. Mr. Tony - Rp. 200,000,000.-
Address : Jl. Merdeka No. 120, RT.03/01
Kel. Sukajadi, Karawaci
Tangerang, Banten
Indonesia
Lines of Business :
Trading, Import and Distribution of Fresh Fruits, Car and Motorcycle
Spare parts, Ceramic Tiles
Production Capacity :
None
Total Investment :
None
Started Operation :
2008
Brand Name :
Lancar Maju Sejahtera
Technical Assistance :
None
Number of Employee :
6 persons
Marketing Area :
Local - 100%
Main Customer :
a. Supermarkets and Hypermarkets
b. Car and Motorcycle Retailers and Agents
c. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Indo Express Logistics
b. PT. Putra Global Mandiri
c. PT. Jorindo Sakti Utama
d. PT. Lancar Sukses Abadi
e. PT. Bina Mentari Tungga
f. PT. Surya
Cemerlang Abadi
Business Trend :
Declining
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Tanjung Priok Branch
Jl. Enggano
Raya No. 22-23
Jakarta
Utara
c. P.T. Bank MANDIRI Tbk
Tanjung Priok Branch
Jl. Enggano Raya No. 42
Jakarta Utara
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 7.5 billion
2011 – Rp. 8.6 billion
2012 – Rp. 7.4 billion
2013 – Rp. 3.3 billion (January – June)
Net Profit (estimated) :
2010 – Rp. 370 million
2011 – Rp. 430 million
2012 – Rp. 380 million
2013 – Rp. 165 million (January – June)
Payment Manner :
Average
Financial Comments :
Fairly
Board of Management :
Director - Mr. Gandi Wijaya
Board of Commissioners :
Commissioner - Mr. Tony
Signatories :
Director (Mr. Gandi Wijaya) which must
be approved by Board of Commissioner (Mr. Tony)
Management Capability :
Fairly
Business Morality :
Doubted
Credit Risk :
Above average
Credit Recommendation :
Credit should be extended under
guarantee
Proposed Credit Limit :
C.O.D. To small amount
P.T. LANCAR MAJU SEJAHTERA
(PT. LMS)
was established in Jakarta based on notarial Deed of Notary Inggrid Lannywaty,
SH., No. 67 dated 08 July 2008 with the authorized capital of Rp.
3,000,000,000.- of which Rp. 2,000,000,000.- was issued and fully paid up. The
founding shareholders of the company are Mr. Gandi Wijaya (90%) and Mr. Tony
(10%), both are Indonesian businessmen of Chinese extraction. The Article of Association has been
approved by the Minister of Law and Human Rights through its Decision Letter
No. AHU-68161.AH.01.01.Tahun 2008 dated September 23, 2008. No changes have been effected in term of its
shareholding composition and capital structures to date.
We observed that Mr. Gandi Wijaya and Mr. Tony are also founders and business stakes owners of
P.T. MITRA MENARA PRIMA dealing with freight forwarding services and P.T. MITRA
SEJATI MANUNGGAL dealing with import and export services.
P.T. LMS has been in operation since October 2008 in trading and
importing of fresh fruits such as grapes, apples, pears, orange, etc. from
Peru, the USA and China. Miss Lisa, an
administrative staff of the company explained that the company also imported
car and motorcycle spare parts and industrial chemicals and ceramic tiles from
Singapore, India, China and Taiwan.
Miss Lisa also explained that P.T. LMS supplies the above products to
fruits supermarkets and hypermarkets (for fresh fruits), to car and motorcycle
components dealers/shops (for car and motorcycle spare parts), to building
material shops (for ceramic tiles). We
observed that P.T. LMS is classified as a small-sized company of its kind in
the country of which the operation has been declining in the last two years.
In March 2013, the agriculture ministry destroy 183
tons of horticultural products (vegetables and fresh fruits like grapes, pears
and carrots) illegally imported from China. Horticultural products that are
imported by three companies and one of them is PT. LMS (9 containers) and two
other companies are PT. Jaka Marintama (3 containers) and PT. Karya Utama
Persada (1 container). Destruction of horticultural products is because the
three companies to enter the product through the Tanjung Priok Port,
Jakarta. According to
the regulation of the Minister of
Agriculture that the Tanjung
Priok port should not be the
point of entry of fruit and vegetables fresh
fruit from China. Besides, the government also provides financial penalties to the companies
We note that generally the domestic demand for fresh fruits, fresh vegetables,
car and motorcycle spare parts, chemicals and ceramic tile has been rising by
about 8% - 10% per year in the last five years in line with the growing
population and increasing income of part of the population in the country. But since the global economic crisis and
tight money policy being imposed by Bank Indonesia in October 2008 the demand
was decreased within due to a poor economic condition, decreasing income per
capita and a weak in public purchasing power. The demand was increasing in the
early 2009 due to economic condition was gradually recovery in the country.
Market competition is very tight due to a large number of similar companies
operating in the country.
Until this time P.T. LMS has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of P.T. LMS is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimate P.T. LMS's sales turnover in 2010
reached Rp. 7.5 billion increased to Rp. 8.6 billion in 2010 and declining to
Rp 7.4 billion in 2012. It’s estimated
that the company’s sales turnover/revenues declined again in 2013. The operation in 2012 yielded an estimated
net profit of at least Rp. 380 million and the company has an estimated total
net worth of at least Rp. 1.2 billion.
So far, we did not heard that the company having been black listed by
the Central Bank (Bank Indonesia).
P.T. LMS's management is headed by Mr. Gandi Wijaya (42) as director and
he is assisted by Mr. Tony (45) as commissioner. The company's management is
handled by professionals in the above business. They have wide relations with
private businessmen within and outside the country. But the morality of the management company 'is not good because it had to
import fruit from China and put it into Indonesia through illegal ports (Port
of Tanjung Priok). As a result, the
fruit is destroyed by the government. Therefore we recommend to treat prudently
in extending any new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
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Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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.