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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. RAJA PUTRA MANGGALA |
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Registered Office : |
Jalan Murai Raya I Block L No. 7/92, Kelurahan Simpang Tanjung, Kecaman Medan Sunggal, Medan, 20352, North Sumatra |
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Country : |
Indonesia |
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Date of Incorporation : |
17.09.2004 |
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Com. Reg. No.: |
No.
AHU-27594.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
trader and exporter of coffee and cocoa bean. |
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No. of Employees : |
27 |
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 |
|
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 |
P.T. RAJA PUTRA
MANGGALA
Head Office &
Warehouse
Jalan Murai Raya I Block L No. 7/92
Kelurahan Simpang Tanjung, Kecaman Medan Sunggal
Medan, 20352
North Sumatra
Indonesia
Phones -
(62-61) 8458420 (Hunting)
Fax - (62-61) 8468275, 8455429
E-mail - contact@rajaputramanunggal.com
Land Area - 2,500 sq.
meters
Building Space - 1,800 sq. meters
Region - Commercial
Status - Rent
17 September 2004
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No. C-24800 HT.01.01.TH.2004
Dated 5 October 2004
- No. AHU-27594.AH.01.02.TH.2008
Dated 26 May 2008
National Private
Company
The Department of
Finance
NPWP No.
02.430.186.3-111.000
The Department of
Industry and Trade
TDP No.
021215108706
Dated 12 October
2004
None
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued Capital : Rp. 250,000,000.-
Paid up Capital : Rp. 250,000,000.-
Shareholders/Owners
:
a. Mrs. Hajjah
Ainal Mardhiah -
Rp. 150,000,000.-
Address : Jl. Beringin No. 17-A
Kelurahan
Sunggal, Kecamatan Medan
Sunggal, Medan,
North Sumatra
Indonesia
b. Mr. Innamal
Aftatur -
Rp. 100,000,000.-
Address : Jl. Beringin No. 17-A
Kelurahan Medan Sunggal,
Kecamatan Medan
Sunggal, Medan,
North Sumatra
Indonesia
Lines of
Business :
Trading and
Exporter of Coffee and Cocoa Bean
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
October 2004
Brand Name :
Raja Putra
Manggala
Technical
Assistance :
None
Number of
Employee :
27 persons
Marketing Area
:
Export -
100%
Main Customer
:
Buyers in Europe
Union and the USA
Market Situation
:
Very Competitive
Main
Competitors :
a. C.V. CIPTA
USAHA
b. P.T. INDO
CAFCO
c. P.T. LOUIS
DREYFUS COMMODITY IDNOESIA
d. P.T. MENACOM
e. P.T. VOLKOPI
INDONESIA
Business Trend
:
Growing
Banker :
P.T. Bank MANDIRI
Tbk
Jalan Asia No. 97
C-D
Medan, North
Sumatra
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 11.8
billion
2011 – Rp. 12.4
billion
2012 – Rp. 13.5
billion
Net Profit
(estimated) :
2010 – Rp. 708
million
2011 – Rp. 744
million
2012 – Rp. 810
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Innamal Aftatur
Board of Commissioners :
Commissioner -
Mrs. Hajjah Ainal Mardhiah
Signatories :
Director (Mr. Innamal
Aftatur) which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
P.T. RAJA PUTRA MANGGALA (P.T. RPM) was established in Medan, North
Sumatra on 17 September 2004 with an authorized capital of Rp. 1,000,000,000
issued capital of Rp. 250,000,000 entirely paid up. The company was founded by Mrs.
Hajjah Ainal Mardhiah (60%) and her son Mr. Innamal Aftatur (40%), both are
indigenous business family. The company notary deed has been changed and
according to the latest revision of notary documents of Mr. Ekoevidolo, SH.,
No. 12 dated 3 May 2008 the company board of director and the board of
commissioner reappointed 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-27594.AH.01.02.TH.2008 dated May 26, 2008.
P.T. RPM has been operating since October 2004 engaged in the field of trading and exporter of coffee and cocoa bean. The company chosen from various sources in Aceh & North Sumatra, hand picked from local farmers in Gayo, Linthong and Mandheling. The types of coffee sells and export by the company including are Arabica Coffee (Lintong, Arabica/private Estates and PTP) and Mandheling.
Besides, the cocoa bean is obtained from farmers in Aceh, North Sumatra and surroundings. The Robusta and Arabica coffee beans are dry with machine and piled-up in its own warehouse located in Binjei, North Sumatra. Whole coffee beans are exported to the USA, Canada, Switzerland, Spain, South Africa, Australia, New Zealand, Japan, Taiwan, Hong Kong, Singapore and Malaysia. Mrs. Ina, the chief of export division disclosed that her company is able to export around 20 containers of 20 feet each per month. We observe that P.T. RPM is classified a small size company its kinds with operation has been growing slowly in the last three years.
Indonesia exports 7% of world coffee production. Coffee represents 0.6% of total GNP and 17% of all agricultural products exports in Indonesia. Planted on 1.3 million hectares of land, coffee plantings yield approximately 600,000 tons of green coffees are broken down as follows: 85 – 90% Robusta (65% coming from Southern Sumatra), 10 – 13% Arabica and 1 – 2% others such as Liberica. As a share of agricultural exports from Indonesia, coffee is reported at 17%.
Coffee is produced by a total of 2.33 million household smallholder farmers cultivating an average holding of 1.0 to 1.5 hectares and deriving approximately $ 910.00/year per hectare (Robusta) and $ 1680.00/year per hectare (Arabica). Coffee represents 50 – 70% of coffee farmer’s income. It is estimated that Aceh is the largest Arabica production area in S.E. Asia. Exports of North Sumatra coffee (Aceh 60% and North Sumatra 40%) receive a premium of 30% over similar coffees grown in Indonesia. Owing to the unique character and body coffees of Northern Sumatra is in high demand from major specialty coffee buyers. Coffee provinces visited by the assessment team included: South Sulawesi (Tana Toraja and Enrekang), North Sumatra (Medan), Aceh (Banda Aceh) and Bali (Kintamani highland).
We have noticed that the demand for agricultural products had increased some 10% to 11% per annum in the last five years in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 6% to 7% per annum. The present market situation for agricultural products is very competitive for a large number of similar companies operating in the country. Meanwhile, competition is quite heavy in the export import of agricultural products with many companies now doing business in this field in Indonesia.
Until this time P.T. RPM 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. 11.8 billion rose to Rp. 12.4 billion in 2011 increased to Rp. 13.5 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. 810 million and the company has an estimated total networth of at least Rp. 2.0 billion. 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. RPM is led by Mr. Innamal Aftatur (30) a young businessman with experience in trading and exporter of coffee and cocoa bean. 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. However, in view of the global economic slowdown and
Rupiah depreciation since August 2013 we recommend to treat prudently in
extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.14 |
|
UK Pound |
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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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.