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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. FUNGYEN |
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Registered Office : |
Jl. Kelapa Gading Boulevard Block LB, Kelapa Gading,
North Jakarta |
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Country : |
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Date of Incorporation : |
23.02.2012 |
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Com. Reg. No.: |
No.
AHU-15367.AH.01.01.Tahun 2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Development,
Services, Transportation and Workshop, printing, agricultural |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Indonesia |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 |
Name of
Company :
P.T.
FUNGYEN INDONESIA
A d d r e s s
:
Head Office
Jl. Kelapa Gading Boulevard Block LB
Kelapa Gading, North Jakarta
Indonesia
Phones -
(62-21) not available
Fax - (62-21) not available
Building Area - 2 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
23 February 2012
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-15367.AH.01.01.Tahun 2012
Dated 26 March
2012
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP (VAT No.) –
not available
Related/Affiliated
Company :
Not available
Capital
Structure :
Authorized Capital - Rp. 1,000,000,000.-
Issued Capital - Rp. 600,000,000.-
Paid up Capital - Rp. 600,000,000.-
Shareholders/Owners
:
a. Mr.
Kushendi - Rp.
480,000,000.- (80.0%)
Address :
Jl. Daan Mogot II No.33-A
Kel. Tanjung Duren Utara, Kec. Grogol Petamburan
West Jakarta
b. Mr. Ahin Kusnadi - Rp. 120,000,000.- (20.0%)
Address :
Kampung Bojong, RT.002, RW.006
Kel. Pondok
Kelapa, Ke. Duren Sawit
East Jakarta
Lines of
Business :
Trading,
Development, Services, Transportation and Workshop, printing, agricultural
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
No Comment
Brand Name :
Fungyen Indonesia
Technical
Assistance :
None
Number of
Employee :
2 persons
Marketing Area
:
No Comment
Market
Situation :
No Comment
Business Trend
:
No Comment
B a n k e r :
Unknown
Auditor :
No Comment
Litigation :
No litigation
record in our database
Total
Income/Sales :
2013 – None
Net Profit
(Loss) :
2013 – None
Payment Manner
:
No Comment
Financial Comments
:
No Comment
Board of Management :
Director -
Mr. Kushendi
Board of Commissioners :
Commissioner -
Mr. Ahin Kusnadi
Signatories :
Director (Mr. Kushendi))
which must be approved by Board of Commissioner (Mr. Ahin Kusnadi)
Management Capability :
No Comment
Business Morality :
No Comment
Credit Risk :
Above average
Credit Recommendation :
Credit should be extended under guarantee
Proposed
Credit Limit :
C.O.D. To small
amount
P.T.
FUNGYEN INDONESIA (P.T. FI) was incorporated in Jakarta based on Notarial Deed
No. 17 dated February 23, 2012 of Notary Martha Tiurma Ida Hutapea, SH., notary
in Jakarta with the authorized capital of Rp. 1,000,000,000 issued capital of
Rp. 600,000,000 entirely paid up. The founding shareholders of the company are
Mr. Kushendi (80%) and Mr. Ahin Kusnadi (20%), both are Indonesian businessmen
of Chinese extraction. The Deed of establishment was approved by the Minister
of Law and Human Rights through Decision Letter No. AHU-15367.AH.01.01.Tahun
2012 dated March 26, 2012. No changes
have been effected in term of its shareholding composition and capital
structures to date.
Pursuant
to the company’s notary deed, the Company’s registered office located on Jalan
Kelapa Gading Boulevard Blok LB, Kelapa Gading, North Jakarta and the company
can open branch offices or representative offices at home and abroad.
In
accordance with article 3 (three) of the articles of association contained in
the deed of establishment, the scope of activities of the Company is primarily
in trading, development, services, transportation and workshop, printing,
agricultural and industry. We observed that since the company establishment up to now
the company it has never conducted any business activities.
The
financial condition of the company is appraised to be less strong and its
financial condition at present is as the paid up capital of Rp. 600,000,000 as
stated in the articles of association of the company. The
financial condition of the company still depends on the financial condition of
its shareholders. The management of P.T.
FI is very reclusive towards outsiders and rejected to disclose its financial
condition. So far, we did not heard that the company having been black listed
by the Central Bank (Bank Indonesia).
Pursuant
to the company’s notary deed, the Company’s management is led by Mr. Kushendi
(49) as director and Mr. Ahin Kusnadi (46) as commissioner of the company. We don’t know much about his reputation in the
business. 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.
Because since this company (P.T. FUNGYEN
INDONESIA) was establishment up to now the company it has never conducted
any business activities, so we recommend caution when going to
provide fresh loans to them.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
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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 |
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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.