|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. LOUIS DREYFUS COMMODITIES INDONESIA |
|
|
|
|
Registered Office : |
Wisma 46-Kota
BNI, 15th Floor, Jalan Jend. Sudirman Kav. 1, Jakarta
Pusat, 10220 |
|
|
|
|
Country : |
Indonesia |
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|
|
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Date of Incorporation : |
23.09.1999 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-18099 |
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|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading,
Exporter and Importer of Agribusiness Products |
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|
|
|
No. of Employees : |
75 |
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 |
Name of
Company :
P.T. LOUIS
DREYFUS COMMODITIES INDONESIA
A d d r e s s
:
Head Office
Wisma 46-Kota
BNI, 15th Floor
Jalan Jend. Sudirman Kav. 1
Jakarta Pusat, 10220
Indonesia
Phones -
(62-21) 570 6300 (Hunting)
Fax - (62-21) 573 5987
E-mail - idcjakarta@idcommodities.com
Website - http://www.idcommodities.com
Building Area - 40 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Branch & Warehouse
Jalan Soekarno-Hatta Km. 7 No. 109
Kelurahan Pesawahan, Kecamatan Teluk Betung Selatan
Bandar Lampung,
35133
Lampung Province
Indonesia
Phone -
(62-721) 268 363
Fax - (62-721) 268 363
E-mail - idcilampung@gmail.com
Land Area - 8,000 sq.
meters
Building Space - 6,000 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation :
a. 23 September 1999 P.T. LOUIS DREYFUS
INDONESIA
b. 5 January 2009 as P.T. LOUIS DREYFUS
COMMODITIES INDONESIA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C-19993 HT.01.01.TH.99
Dated 13 December 1999
- No. AHU-01989.AH.01.02.TH.2009
Dated 12 January 2009
- No. AHU-AH.01.10-18099
Dated 13 May 2013
Company Status
:
Foreign
Investment (PMA) Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.868.978.6-056.000
The Department of Industry and Trade
TDP No.
090315329041
Dated 6 January
2000
The Capital Investment Coordinating Board
No. 554/I/PMA/1999
Dated 24 August
1999
Related
Company :
P.T. LDC COFFEE
INDONESIA (Trader and Exporter of Coffee)
Capital
Structure :
Authorized
Capital : US$
250,000.-
Issued Capital : US$ 75,000.-
Paid up Capital : US$ 75,000.-
Shareholders/Owners
:
a. LOUIS DREYFUS COMMODITIES ASIA PTE LTD. - US$ 55,500.-
Address :
501 Orchad Road 19-01
Wheelock Place
Singapore
b. LOUIS DREYFUS COMMODITIES BV - US$ 19,500.-
Address : Westblaak 92, 3rd
Floor
3012 KM
Rotterdam
Netherlands
Lines of
Business :
Trading, Exporter
and Importer of Agribusiness Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2000
Brand Name :
Louis Dreyfus
Commodities Indonesia
Technical
Assistance :
Louis Dreyfus
Commodities Asia Pte Ltd., Singapore
Number of
Employee :
75 persons
Marketing Area
:
Export -
50%
Local - 50%
Main Customer
:
Buyers in Europe
Union and the USA
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T.
COFFEEBROS INDONESIA
b. P.T. GLOBAL
VISION IMPEX
c. P.T. INDO CAFCO
d. P.T. TOARCO JAYA
e. P.T. VOLKOPI
INDONESIA
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
NEGARA INDONESIA Tbk
Wisma
46-Kota BNI
Jalan Jend.
Sudirman Kav. 1
Jakarta Pusat,
Indonesia
b. P.T. Bank DBS INDONESIA
Plaza Permata, 8th – 9th and 12th
Floor
Jalan M.H. Thamrin Kav. 57
Jakarta Pusat, 10350
Indonesia
c. P.T. Bank ANZ INDONESIA
ANZ Tower 8th Floor
Jalan Jend. Sudirman Kav. 33 A
Jakarta Pusat, 10220
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 175.0
billion
2011 – Rp. 183.0
billion
2012 – Rp. 195.0
billion
Net Profit
(estimated) :
2010 – Rp. 8.7
billion
2011 – Rp. 9.1
billion
2012 – Rp. 9.7
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Sanjay Joneta
Directors -
a. Mr. Oliver Francois Marie Quentin Hamy
b. Mr. Tjung Hen Sen
Board of Commissioners :
President Commissioner -
Mr. Rohit Aggarwal
Commissioner - Mr. James
Fernando O Danahue
Signatories :
President Director (Mr.
Sanjay Joneta) or one of the Directors (Mr. Oliver Francois Marie Quentin Hamy
or Mr. Tjung Hen Sen) 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
Proposed
Credit Limit :
Small amount –
periodical review
Originally named
P.T. LOUIS DREYFUS INDONESIA was established in Jakarta on 23 September 1999
with the authorized capital of US$ 250,000 issued capital of US$ 75,000 fully
and paid up. The founding and shareholders of the company originally are LOUIS
DREYFUS ASIA PTE LTD., Singapore and LOUIS DREYFUS NEGOCE S.A., of France. The
company notary deed has been changed a couple of times and in January 2009 the
company name was changed to P.T. LOUIS DREYFUS COMMODITIES INDONESIA (P.T.
LDCI). On the same occasion the whole shares had been taken over by LOUIS
DREYFUS COMMODITIES ASIA PTE LTD., Singapore (74%) and LOUIS DREYFUS
COMMODITIES BV., Netherlands (26%). Then according to the latest revision of
notary documents of Mrs. Siti Safarijah, SH., No. 08 dated 15 April 2013 the
company board of director and the board of commissioner had been changed to
lead and runs of the company’s operation. The deed of amendments was approved
by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.10-18099 dated May 13, 2013.
We observe that
LOUIS DREYFUS COMMODITIES PTE LTD., Singapore is also holds business stakes in
P.T. LDC COFFEE INDONESIA engaged in trader and exporter of coffee.
P.T. LDCI
operates under the framework of Foreign Investment (PMA) facilities in trading
and export of agricultural (agribusiness) products. P.T. LDCI has been
operation since 2000 and exporter of various agribusiness products such as
corn, sugar, coffee, crude palm oil and other commodities products. The whole
products obtained from Lampung, Riau, Padang, Jambi, Bengkulu and also from
Kalimantan. Then the whole product is exported to Europe Union, Middle East and
other countries through LOUIS DREYFUS Group which has branch office in
worldwide. In addition, P.T. LDCI is also engaged in importer of cotton, dairy,
grain, sugar, wheat, juices, fertilizers and rice. Then the whole products supplied
in Jakarta, Sumatera and Kalimantan to various oil palm plantation, and others.
P.T. LDCI is one
of the world\'s leading commodity merchants and processors of agricultural
products, has merchandised and traded bulk commodities in international markets.
LDCI commodities is ranked number one in world cotton merchandising and is one
of the three largest producers of orange juice with a 15-perceny share of the
global market. The company is also a leader in the grains and oil, seeds, sugar
coffee rice, metals freight and emerging financial trading markets. LDCI
Commodities has an emerging worldwide presence in the expanding biofuels
sector, including a leading position in the Brazilian ethanol market and is
currently building the largest biodiesel refinery in the United States. LD
Commoditiesis committed to sustainability in initiatives globally including
membership in the Roundtable for Responsible Soy and aspiring member of the
Roundtable for Sustainable Palm Oil. We observe that P.T. LDCI has been growing
and developing well in the last three years.
Generally,
demand for agriculture products such as soybean and spices products has kept on
increasing by 9% to 10% in the domestic and export market in the last five
years having close relation with the growth of food processing industries,
cafes and restaurants within and outside the country. Besides, the agriculture
products are one of basic needs in daily life. The demand is estimated to be
rising by at least 7% in the coming five years. Meanwhile, the competition is
very tight on account of lots of similar companies operating in the country.
The business position of P.T. LDCI is appraised to be favorable because almost
whole spices products of the company are exported. Besides, the company has
already established wide marketing networks in overseas.
Until this time P.T. LDCI 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 2010 amounted to Rp. 175.0 billion rose to Rp. 183.0 billion in 2011
increased to Rp. 195.0 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. 9.7 billion and the company has an estimated total networth of at
least Rp. 15.0 billion. We observe that P.T. LDCI is supported by foreign
partner with has financially strong and sound behind it. 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. LDCI is led by Mr. Sanjay Joneta (52) a professional manager of
Singapore with experience in trading, export, import and distribution of
agribusiness commodities products. Daily activity he is assisted by Mr. Oliver
Francois Marie Quentin Hamy (40), and Mr. Tjung Hen Sen (36) 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. LOUIS DREYFUS COMMODITIES INDONESIA is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
|
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.