|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GGB |
|
|
|
|
Registered Office : |
Jalan Ciniru 2
No. 8 Kebayoran Baru |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Sole
Proprietary Company |
|
|
|
|
Line of Business : |
Subject is
general trading, export import of agriculture products |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Indonesia |
B1 |
A2 |
|
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, has grown strongly since 2010. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25% 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 also faces the challenges of quelling labor unrest and reducing fuel subsidies in the face of high oil prices
|
Source
: CIA |
GGB ASIA
PACIFIC
Head Office
Correspondence
Office
Jalan Ciniru 2
No. 8
Kebayoran Baru
Jakarta Selatan,
12180
Indonesia
Phone -
(62-21) 7396954
Fax - (62-21) 72798523
Building Area - 1 storey
Office Space - 80 sq. meters
Region - Commercial
Building
Status - Rent
According
investigation that the address is registered on Mrs. Ratna Soegiarto
Date of Incorporation :
2000’s
Legal Form :
Sole Proprietary
Company
Company Reg.
No. :
Not Required
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
Capital
Structure :
Unknown
Owner :
Ms. Ratna Soegiarto
Lines of
Business :
General Trading,
Export Import, Agriculture Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
Unknown
Technical
Assistance :
None
Number of
Employee :
None
Marketing Area
:
Export - 100%
Main Customer
:
Unknown
Market
Situation :
Unknown
Main
Competitor :
None
Business Trend
:
No comment
B a n k e r :
Unknown
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales (estimated) :
Unknown
Net Profit (Loss) :
Unknown
Payment Manner :
Unknown
Financial Comments :
Weak
Board of
Management :
Director - Ms. Ratna Soegiarto
Board of
Commissioner :
None
Signatories :
Director (Ms. Ratna Soegiarto) is only
the authorized person to sign the loan on behalf of the company
Management
Capability :
Weak
Business Morality
:
Prudent
Credit Risk :
Very High
Credit
Recommendation :
Not qualified for credit assessment
Proposed Credit Limit :
Deposit or
Advance Payments
Based to our investigation to the above address at Jalan Ciniru 2 No. 8,
Kebayoran Baru, South Jakarta with phone number (62-21) 7396954, but after we contacted
Ms. Ratna Soegiarto explained that GGB ASIA PACIFIC was not registered on the
above address. She also added that she did not know all regarding GGB ASIA
PACIFIC. According information from TELKOM Jakarta explained the address is
registered on Ms. Ratna Soegiarto.
Pursuant to Alibaba Internet, GGB ASIA PACIFIC was incorporated in
Jakarta in 2000 with the status of Sole Proprietary Company and owned by Ms.
Ratna Soegiarto, an indigenous businessman. Being as Sole Proprietary Company, the amount
of its authorized capital was not mentioned at the time of its establishment.
Further to the Internet that GGB ASIA PACIFIC is a private national
Company engaged in trading, and export of agricultural commodities products.
The Company specializes in coconut palm oil, all grades of natural latex,
nutmeg, cocoa and cashew nuts. The Company obtained all the agricultural
commodities products from Sumatra, Kalimantan and Sulawesi. The whole products
exported to Eastern Asia, Africa, Mid East, Oceania, Western Europe, Eastern
Europe, North America, etc.
So, we still doubt the activities of GGB
ASIA PACIFIC because of the telephone number and address is difficult to be
reached, although they explain and make their ads and promote activity in this company's
Alibaba Internet. We also doubt about the legality of this company because many
companies in Indonesia introduces its business in an internet though many are
not legal activities and some of the companies address not clearly. We are sure
GGB ASIA PACIFIC is a fictitious company.
From the whole negative factors, we recommended to stop any new business
relation to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.