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Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. RUBY
PRIVATINDO |
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|
|
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Registered Office : |
Dutamas Fatmawati Block D1 No. 23 Jalan R.S. Fatmawati No. 39 Jakarta
Selatan, 12150 |
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Country : |
Indonesia |
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Date of Incorporation : |
23.07.1998 |
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|
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Com. Reg. No.: |
No. AHU-AH.01.10-35855 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Exporter of Agricultural Commodities Products |
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No. of Employees : |
27 persons |
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 |
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Status : |
Satisfactory |
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|
|
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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 |
|
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. RUBY PRIVATINDO
A ddress :
Head Office
Dutamas Fatmawati Block D1 No. 23
Jalan R.S. Fatmawati No. 39
Jakarta Selatan, 12150
Indonesia
Phones -
(62-21) 7278 8204, 7279 5968
Fax - (62-21) 7278 8205
E-mail - sales@rubyindo.com
Website - http://www.rubyindo.com
Building Area - 2 storey
Office Space - 230 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation
:
23 July 1998
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C2-25.660.HT.01.01.TH.1998
Dated 18 November 1998
- No.
AHU-02275.AH.01.02.TH.2010
Dated 15 January 2010
- No. AHU-AH.01.10-35855
Dated 8 November 2011
Company Status :
Foreign Investment (PMA) Company
Permit by the Government Department :
a. The Department of Finance
NPWP No. 01.869.755.7-059.000
b. The Department of Trade & Industry
TDP No. 09041613802
Dated 4 January 1999
c. The Capital Investment Coordinating Board
No. 425/I/PMA/1998
Dated 23 July 1998
Related Company :
None
Capital Structure :
Authorized Capital : US$
100,000.-
Issued Capital :
US$ 50,000.-
Paid up Capital :
US$ 50,000.-
Shareholders/Owners :
a. Mr. Nambipunnalath Kunjimuhamed Ibrahim Kutty - US$ 25,000.-
Address : Jl. Panglima Polim III No. 139
Kebayoran Baru, Jakarta
Selatan
Indonesia
b. Mrs. Mudathumpady Ahamed Safiya -
US$ 25,000.-
Address : Jl. Panglima Polim III No. 139
Kebayoran Baru, Jakarta
Selatan
Indonesia
Lines of Business :
Trading and Exporter of Agricultural Commodities Products
Production Capacity :
None
Total Investment :
a. Equity Capital -
US$ 50,000.-
b. Loan Capital -
US$ 50,000.-
c. Total Investment - US$
100,000.-
Started Operation :
August 1998
Brand Name :
Ruby Privatindo
Technical Assistance :
None
Number of Employee :
27 persons
Marketing Area :
Export - 100%
Main Customer :
Buyers in India, China, Nepal, Pakistan, etc
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ASIA AGROMAS
b. C.V. BINTANG SELAMANYA
c. P.T. GLOBAL VISION IMPEX
d. P.T. SARIMAKMUR TUNGGALMANDIRI
Business Trend :
Growing
Banker :
P.T. Bank MANDIRI Tbk
Jalan Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 31.5 billion
2011 – Rp. 33.0 billion
2012 – Rp. 34.0 billion
Net Profit (estimated) :
2010 – Rp. 2.4 billion
2011 – Rp. 2.5 billion
2012 – Rp. 2.7 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Nambipunnalath Kunji Muhamed Ibrahim Kutty
Director - Mr. Mohamed Shad
Board of Commissioners :
Commissioner - Mrs. Madathumpady Ahamed Safiya
Signatories :
President Director (Mr. Nambipunnalath
Kunji Muhamed Ibrahim Kutty) or the Director (Mr. Mohamed Shad) which must be
approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. RUBY PRIVATINDO (P.T. RP) was established in Jakarta on July 23,
1998 with the authorized capital of US$ 100,000 of which US$ 50,000 was issued
and fully paid up. The founding shareholders of the company are Mr.
Nambipunnalath Kunji Muhamed Ibrahim Kutty AKA N.K. Ibrahim Kutty (50%) and his
wife Mrs. Madathumpady Ahamed Safiya (50%), both are entrepreneurs of India
residing in Indonesia for more than 10 years. The deed of amendment was made by
Mr. H.M. Afdal Gazali, SH., was approved by the Ministry of Law and Human Right
in its Decision Letter No. C2-25.660.HT.01.01.TH.1998, dated November 18, 1998.
The company notary documents had been changed a couple of times. Then according
to the latest revision of notary documents of Mr. Abdul Salam, SH., No. 19 dated
12 October 2011 Mr. Mohamed Shad was appointed as Director to lead and runs of
the company. The deed of amendments was approved by the Ministry of Law and
Human Rights in its decision letter No. AHU-AH.01.10-35855 dated November 8,
2011. We heard that P.T. RP is a member of the YENKAY Group, a company group
based in India.
P.T. RP obtained a Foreign Capital Investment (PMA) facility issued by
the Capital Investment Coordinating Board (BKPM) to deal with trading and
exporter of agricultural commodities products. The whole agro commodities
products like black peppers, white peppers, cashews, cinnamon, cloves, gambier,
turmeric, betel nuts, chocolate seeds, cocoa powder, copra, nutmeg and other
being bought from various regions in Indonesia. The company is a reputed
organization engaged in the processing and export of soft commodities such as
spices, betel nuts, copra, cashew nuts, natural gums and resins. Besides, the
company also deals in non-agro products including coal, wood, glassware,
furniture and textiles. With world-class infrastructure and state of the art
machinery, P.T. RP are equipped to handle 2000 tons of agro products per month,
and have warehouse capacity of storing up to 3000 tons at any given time. Betel
Nuts Split or Lali types from Jambi. Jambi is famed for its abundant supply of
quality betel nuts. Betel nuts or Areca Nuts originate from the Areca Palm
which is found in most tropical countries. Areca nuts are wrapped with the
Betel Leaf and chewed in several Asian countries including India, Thailand,
Cambodia and Taiwan. Areca nuts are also used in Ayurvedic medicines and for
coloring purposes. Betel Nut Split Polished and dried: 70-85%, 80-85%, 85-90%,
90-95%. With numerous years of experience in trading commodities across
different countries such as USA, Australia, India, Pakistan, China, Africa and
EU countries, P.T. RP offer highly competitive prices while ensuring quality
through our extensive supply chain and industry best practices. Mrs. Dina
Kahayu, General Manager of P.T. RP went on to say that the company exported of
betel nuts to India, Nepal and Pakistan.
Besides, the company is also selling other products such as coal, wooden
products, furniture products, textile products, glassware and others being sold
to its customers in the USA, Australia, Pakistan and others. The company has
also managed and developed three warehouses in Indonesia. However, the
management strongly rejected to disclose its warehouses’ sites. The operation
of P.T. RP has been running smoothly in the last three years.
We have noticed that the demand for agricultural products had been
declining some 5% to 7% per annum in the last five years in line with the
growth of pharmaceutical and cosmetic industries international market. In the
coming years, the growth rate of demand is estimated at about 4% to 6% 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. We
consider P.T. RP to be in a quite favorable position for having already got
hold of a steady clientele in abroad.
P.T. RP 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. 31.5 billion rose to Rp. 33.0 billion in 2011 increased to
Rp. 34.0 billion in 2012 and projected to go on rising by at least 4% in 2013.
The operation of the company gained a net profit of at least Rp. 2.7 billion in
2012 with an estimated net worth of at least Rp. 6.0 billion. We observe that
P.T. RP 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. RP is led by Mr. Nambipunnalath Kunji Muhamed
Ibrahim Kutty (62), a businessman with broad experience in trading and
distribution of agricultural products. He is also one of top figures of the
YANKEY Group of India. In daily activity he is assisted by his son Mr. Mohamed
Shad (29) as Director.
The management is handled by professional experts having wide relation
with private businessmen of home and overseas. The management has never been
filed to the court for detrimental cases. 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. RUBY PRIVATINDO is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.66 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.