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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
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Name : |
TOKO DIRGAHAYU |
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Registered Office : |
Pusat Grosir Tekstil Block C3 No. 22, Jalan Arteri Mangga Dua, Jakarta Utara, 14430 |
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Country : |
Indonesia |
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Year of Establishments: |
1988 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole
Proprietary Concern |
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Line of Business : |
Trader, distributor and retailer of various textile products for woman, lady’s and man’s with various such as georgette, tile fabrics, satin, brocade, apparel fabric, chiffon fabrics, cotton fabrics, jute fabrics and silk fabrics by using various brands. |
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No. of Employees : |
40 |
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) |
|
Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 |
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 |
Toko DIRGAHAYU
Head Office
Pusat
Grosir Tekstil Block C3 No. 22
Jalan
Arteri Mangga Dua
Jakarta
Utara, 14430
Indonesia
Phones -
(62-21) 6017904 (Hunting)
Fax - (62-21) 6018518
Building Area - 4 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
1988’s
Sole
Proprietary Concern
Not
Required
National
Private Concern
The Department of
Finance
Not
Available
None
Capital
Structure :
Owned
Capital :
Rp. 1.0 billion
Owner
:
Mr.
Tir Lok
Lines of Business :
Trading and
Distribution of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1988
Brand Name :
Toko Dirgahayu
Technical Assistance
:
None
Number of Employee :
40 persons
Marketing Area :
Local - 100%
Main Customer :
Individual and Tailor
Market Situation :
Very Competitive
Main Competitors :
a. DUNIA LARIS
b. GANESHA JAYA
c. RANI TEX
d. PD. SURYA AGUNG
e. Etc.
Business Trend :
Growing
Banker
:
P.T.
Bank CENTRAL ASIA Tbk
Pusat Grosir Tekstil Mangga Dua
Jalan Arteri Mangga Dua
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2010
– Rp. 12.1 billion
2011
– Rp. 13.6 billion
2012
– Rp. 15.0 billion
Net
Profit (estimated) :
2010
– Rp. 0.9 million
2011
– Rp. 1.1 billion
2012
– Rp. 1.3 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Tir Lok
Board of Commissioners :
None
Signatories :
Director
(Mr. Tir Lok) is only the authorized person to sign the loan on behalf of the
concern .
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Toko DIRGAHAYU is a sole proprietary concern which established in Jakarta in 1988’s by Mr. Tir Lok (65) an Indonesian businessman of Indian descent. The concern ’s authorized capital is not announced in it’s of establishment. In general, the concern with status of sole proprietary concern shall increase its capital continuously together with its business development. We estimated that Toko DIRGAHAYU has capital about Rp. 1.0 billion.
Toko DIRGAHAYU has been operating since 1988’s dealing with trading, distribution and retails of textile products. The retails shops located at Pusat Grosir Textile Block C3 No. 22, Jalan Arteri Mangga Dua, North Jakarta, a big and the largest textile trading centre in Jakarta. According information the retails sells of various textile products for woman, lady’s and man’s with various types among others are georgette, tile fabrics, satin, brocade, apparel fabric, chiffon fabrics, cotton fabrics, jute fabrics and silk fabrics by using various brands. Mr. Tir Lok director and owner of the concern went on to say some of the textile products mostly import from China, South Korea and the rest for locals especially from Bandung, West Java. The whole products sold through tailor made, trader and shops and others in Jakarta and surroundings. We observe that Toko DIRGAHAYU is a small size concern of its kinds which its operation has been growing slowly in the last three years.
In overall views we find the demand for textile products especially lady’s menswear has kept on rising 6% to 8% per annum in the last five years. The sharp growth of the demand was in line with the progress achieved in textile products locals markets. The demand growth is estimated to continually rising by 6% over the next five years. Market competition is very sharp considering many other similar companies operating in the country. Toko DIRGAHAYU in this case is in a sufficiently fairly good business position in view of the concern has controlled a wide marketing network in Jakarta and surroundings.
Until this time Toko DIRGAHAYU has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of the concern is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the concern in 2010 amounted to Rp. 12.1 billion rose to Rp. 13.6 billion in 2011 increased to Rp. 15.0 billion in 2012 and projected to go on rising by at least 5% in 2013. The operation in 2012 yielded an estimated net profit of at least Rp. 1.3 million. So far, we did not heard that the concern having been black listed by the Central Bank (Bank Indonesia). The concern usually pays its debts punctually to suppliers.
The management of Toko DIRGAHAYU is led by Mr. Tir Lok
(65) a businessman with experience in trading, import and distribution of
textile products. The concern '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 concern being
filed to the district court for detrimental cases or involved in any business
malpractices. The concern ’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia. We are convinced Toko
DIRGAHAYU 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 : |
MNL |
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 |
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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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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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.