|
Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PD. MEGA SURYA JAYA |
|
|
|
|
Registered Office : |
Jalan Fachrudin
No. 5, Ruko Alfa Pasar Tanah Abang 1 Unit 28, Jakarta Pusat, 10250 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Year of Establishment : |
2002’s |
|
|
|
|
Legal Form : |
Sole
Proprietary Company |
|
|
|
|
Line of Business : |
Trading, Import
and Distribution of Textile Products |
|
|
|
|
No. of Employees : |
5 |
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 |
PD. MEGA SURYA JAYA
Head Office
Jalan Fachrudin
No. 5
Ruko Alfa Pasar Tanah
Abang 1 Unit 28
Jakarta Pusat,
10250
Indonesia
Phones -
(62-21) 3141931, 31907965
Fax - (62-21) 31908929
Building Area - 1 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
2002’s
Sole Proprietary
Company
The Ministry of Law and Human Rights
Not Required
Private National
Company
The Department of Finance
Not Available
None
Capital
Structure :
Owned Capital : Rp. 250
million
Owners :
Mr. Narain J. Nanwani
Lines of
Business :
Trading, Import
and Distribution of Textile Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2002’s
Brand Name :
Mega Surya Jaya
Technical
Assistance :
None
Number of
Employee :
5 persons
Marketing Area
:
Local - 100%
Main Customer
:
Individual (end
users)
Market
Situation :
Very Competitive
Main
Competitors :
a. LAKSANA
TEXTILE
b. NIRMALA
COLLECTION
c. P.D. SINAR
d. P.T. YOSHI INDONESIA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Fachrudin No. 15
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 5.5
billion
2011 – Rp. 6.0
billion
2012 – Rp. 6.7
billion
Net Profit
(estimated) :
2010 – Rp. 275
million
2011 – Rp. 280
million
2012 – Rp. 300
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Narain J. Nanwani
Manager -
Mrs. Lyna
Board of Commissioners :
None
Signatories :
Director (Mr. Narain J.
Nanwani) is only the authorized person to sign the loan on behalf of the
company
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
PD. MEGA SURYA JAYA (PD. MSJ)) was established in Jakarta in 2002’s with a
status of Sole Proprietary Company. Founder and owner of the company is Mr.
Narain J. Nanwani an Indonesian businessman of Indian descent. Being as Sole
Proprietary Company, the amount of its authorized capital was not mentioned at
the time of its establishment. In our estimate, the company has own capital of
about Rp. 250 million and it will be rising in line with the progress of its
business operation.
PD. MSJ has been in operating
since 2002 in the field of trading, import and distribution of textile
products. The textile products are woman’s wears. Mrs. Lyna, manager of the PD.
MSJ went to say the whole textile products is bought from various textile
industries in Jakarta, Bandung, West Java and the rest is also imported from
India. The whole textile products is distributed and supplied to trading and
textile shops which operating in Pasar Pagi Mangga Dua, Tanah Abang, tailor
shops in Jakarta and surrounding. PD. MSJ is classified as a small sized
company of its kind in the country of which the operation has been growing
slowly in the last three years.
The demand for
textile products especially woman’s menswear has kept on rising 5% to 7% per
annum in the last five years. The sharp growth of the demand was in line with
the progress achieved in textile and garment products locals markets. The
demand growth is estimated to continually rising by 6% over the next two years.
Market competition is very sharp considering many other similar companies
operating in the country.
Until this time
PD. MSJ has not been registered with Indonesian Stock Exchange, so that they
had not obliged to announce their financial statement. The
management of PD. MSJ 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. 5.5 billion rose to Rp. 6.0 billion in
2011 increased to Rp. 6.7 billion in 2012 and projected to go on rising by at
least 4% in 2013. The operation in 2012 yielded an estimated net profit of at
least Rp. 300 million.
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 PD. MSJ is led by Mr. Narain J. Nanwani (48) a businesswoman with experience
in trading, import and distribution of textile products. 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. PD. MEGA SURYA JAYA is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
UK Pound |
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.