|
Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
C.V. TRIJAYA MULYA |
|
|
|
|
Registered Office : |
Jalan
Perak Timur No. 522 A Pabean, Cantikan Surabaya, 60165 East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
February
2013 |
|
|
|
|
Legal Form : |
Partnetship
with Sleeping Partners |
|
|
|
|
Line of Business : |
Custom
Clearance Services |
|
|
|
|
No. of Employees : |
08 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
Payment Behaviour : |
Unknown |
|
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
C.V.
TRIJAYA MULYA
A
d d r e s s :
Head Office
Jalan
Perak Timur No. 522 A
Pabean,
Cantikan
Surabaya,
60165
East
Java
Indonesia
Phone -
(62-31) 329 5373
Fax - (62-31) 329 5304
E-mail - lautanluas08@yahoo.com
Building Area - 2 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
February
2013
C.V.
(Commanditaire Vennootschap) or Partnetship with Sleeping Partners
Not
Required
National
Private Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
C.V.
BUANA PERKASA
Capital
Structure :
Owned
Capital :
Rp. 300 million
Owners
:
a. Mrs. Diana Islami (Active Partner)
b. Mr. Rochmat (Silent Parner)
Lines
of Business :
Custom
Clearance Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
February
2013
Brand
Name :
Trijaya
Mulya
Technical
Assistance :
None
Number
of Employee :
8
persons
Marketing
Area :
Local - 100%
Main
Customer :
Stainless
Steel & Steel Trading Companies
Market
Situation :
Very
Competitive
Main
Competitors :
a.
C.V. AMANAH ABADI CARGO
b. P.T. ARAYA BANGUN SARANA
c. C.V. BUANA PUTRA WILANGGA
d. C.V. DELAPAN SARANA NIAGA
Business
Trend :
Growing
B
a n k e r :
P.T.
Bank CENTRAL ASIA Tbk
Jalan Perak Timur No. 518 E
Surabaya, East Java
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2013
– Rp. 1.0 billion (February – June)
Net
Profit (estimated) :
2013
– Rp. 0.2 billion (February – June)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mrs. Diana Islami
Import Documents - Mrs. Susanti Herawati
Board of Commissioners :
Commissioner - Mr. Rochmat
Signatories :
Director
(Mrs. Diana Islami) 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
Proposed Credit Limit :
Small amount – periodical review
Based on investigation the correct address of the Subject
is located at Jalan Perak Timur No. 522 A, Pabean, Cantikan, Surabaya, East
Java not at Rungkut Asri Timur VI/25, RK 4/C-5, Surabaya, East Java as stated
in your order ref. no. 234272 dated 30 August 2013.
C.V. TRIJAYA MULYA (C.V. TM) was incorporated in
Surabaya, East Java in February 2013 with the legal status of C.V.
(Commanditaire Vennootschap) or partnership with sleeping partners. The company
was founded by Mrs. Diana Islami as active partner and her husband Mr. Rochmat
as silent partner. As in common in cases of companies with C.V. status, there
is no mention in the company’s notarial act of its capital structure. But going
by the company’s conditions, we estimate its capital at some of Rp. 300
million.
C.V. TM is a private company has been operating since
February 2013 which main business in custom clearance, shipping documents and
transportation. As an architect of custom clearance and transportation, C.V. TM
has deep concern to fast and efficient arrangement of custom clearance and
transportation. Basically the company just acted as custom clearances to handle
and manages of import duties in Tanjung Perak ports, Surabaya, East Java.
According information from Mrs. Susanti Herawati, Import Documents Staff of the
company went on to say that the company provides services in handle of import
of stainless steel and steel from China and India. In the implementation of these
imports, C.V. TM as much as possible trying to be immediately removing the
goods they import to get to the destination. The company provides import
services including marine line in Tanjung Perak port, stainless steel and steel
products, delivered up in warehouse, volume all-in (dock & tracking)
and will import goods and delivered to
warehouse of all clients. Mrs. Susanti Herawati added the whole services uses
by various industries and traders in Jakarta, Surabaya and surroundings. The
services used by P.T. GLOBALINDO HARAPAN JAYA, C.V. SUMBER BAHAGIA both are
trading of stainless steel and steel products which import from China and
India. We observe the operation of C.V. TM had been growing the last six
months.
The domestic demand in custom clearances, export import
services has kept on fluctuating in the last five years in line with the growth
of export and import of various Indonesian products including oil and gas. The
demand for post and cargo handling had kept on increasing up in the lat five years
in line with the growth of various businesses requiring its services to send
letters to domestic and foreign destination. According data from the Ministry
of Sea Communication that total of sea freight to overseas in the last five
years has been increasing. However, the global economic crisis in October 2008
had caused the demand to decline especially in cargo freight of sea port. C.V.
TM’s is considered to be in a favorable business position in view of the
company's experience in the above business.
Until this time C.V. TM has not been registered with
Indonesian Stock Exchange, so that they had 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 the first year
operation as from February to June 2013 amounted at Rp. 1.0 billion with a net
profit of Rp. 0.2 billion and projected to go on rising by at least 5% in 2014.
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 C.V. TM is led by Mrs. Diana Islami
(48) a businesswoman with experience in custom clearance services. The
company's management is handled by professional staff in the above business.
They have wide relations with private businessmen within 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. C.V. TRIJAYA MULYA is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.22 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.21 |
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.