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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
UD. JAYA AGUNG MAKMUR |
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|
|
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Registered Office : |
Taman Palem Lestari, Ruko Pelangi Blok E No. 18-19, Jl.
Kamal (Outer Ring Road), Cengkareng, Jakarta Barat 11730 |
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|
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Country : |
Indonesia |
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Year of Establishment : |
1998 |
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|
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Legal Form : |
Sole Proprietary Company |
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|
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Line of Business : |
Trader, Supplier and Distribution
of Kitchen Equipments (Stainless Steel & Melamine Ware) |
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|
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No of Employees : |
8 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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 :
UD. JAYA AGUNG MAKMUR
Address :
Head Office
Taman Palem Lestari
Ruko Pelangi Blok E No. 18-19
Jl. Kamal (Outer Ring Road), Cengkareng
Jakarta Barat 11730
Indonesia
Phones -
(62-21) 5595 7566, 5595 7567 5595 7569
Cellular Phone - (62-815) 1811576
Fax - (62-21) 5595 7568
Email - udjam888@gmail.com or jam888@telkom.net.id
Building Area - 2 storey
Office Space - 160 sq. meters
Region - Commercial
Status - Owned
Year of Incorporation :
1998’s
Legal Form :
Sole Proprietary Company
Company Reg. No. :
The Ministry of Law and Human Rights
Not Available
Company Status :
Private Company
Permit by the Government Department :
The Department of Finance
Not Available
Related Company :
Not available
Capital Structure :
Owned Capital -
Rp. 2.0 billion
Owner :
Mr. Tommy Thendian - 100%
Lines of Business :
Trader, Supplier and Distribution of
Kitchen Equipments (Stainless Steel & Melamine Ware)
Production Capacity :
None
Total Investment :
None
Started Operation :
1998
Brand Name :
JAYA AGUNG MAKMUR (JAM)
Technical Assistance :
None
Number of Employee :
8 persons
Marketing Area :
Domestic (Local) - 100%
Main Customers :
a. Dealers
and Retail Shops of Kitchen Equipments in Jakarta and its surroundings
b. Hotels
and Restaurants, etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Ria Housewares
b. PT. Keisi Indonesia
d. CV. Millani Surya Persada
e. PT. Impressindo Karya Steel
Business Trend :
Growing
Banker :
P.T. Bank CENTRAL ASIA Tbk
Utama Raya Branch
Jl. Utama Raya No.11-E, Cengkareng
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 29.0 billion
2011 – Rp. 33.0 billion
2012 – Rp. 37.0 billion
2013 – Rp. 42.0 billion
Net Profit (estimated) :
2010 – Rp. 2.0 billion
2011 – Rp. 2.2 billion
2012 – Rp. 2.5 billion
2013 – Rp. 2.8 million
Payment Manner :
Almost Promptly
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Tommy Thendian
Board of Commissioners :
None
Signatories :
Director (Mr. Tommy
Thendian) is the only person who is authorized to sign the loan on behalf of the
company
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Above average
Credit Recommendation :
Credit should be
extended under guarantee
UD. JAYA AGUNG MAKMUR (UD. JAM) was established
in Jakarta in 1998 with the legal status of sole proprietary company. The
founder and owner of the company is Mr. Tommy Thendian, an Indonesian
businessman of Chinese extraction. As other companies with the legal status of
sole proprietary, the amount of its authorized capital was not mentioned at the
time of its establishment. In our estimate, at present the company has own
capital of about Rp. 2.0 billion and it will be rising in line with the
progress of its business operation. So
far, we did not hear that the founding owner of UD. JAM have other businesses
within and outside the country.
UD. JAM is a sole proprietary
which has been operating since 1998 in the field of trade, distributor
and importer of
kitchen equipments (stainless steel and melamine ware). This company is located at Taman Palem Lestari, Ruko Pelangi
Blok E No.18-19, West Jakarta. Ms. Sri Hidayati,
an administrative staff of UD. JAM
when contacted recently
said that the products (kitchen equipment, cooking utensils,
plates, bowls, tray and other are made of stainless steel and melamine ware)
are imported from Hong Kong, China, India and Taiwan. She added that the Company sells merchandise
products to dealers and retailer shops of Kitchen Equipments in Jakarta and its
surroundings, and also to shops, hotels and restaurants in Bogor, Bandung,
Surabaya, Lampung and others. We
observed that UD. JAM is classified as a medium sized company of its kind in the country
of which the operation has been growing in the last three years.
Generally, the demand for kitchen equipments
and cooking utensils in the country had significantly rising by 8% to 10% per
year in the last five years, in line with the growth of hotels, restaurant,
supermarkets, mini-markets, food courts and markets. But, as from October 2008, the demand
growth for can making and metal printing has kept on dwindling as an impact of
global economic crisis as told above.
The demand was increasing in the early 2009 due to economic condition
was gradually recovery in the country. The growth rate is now estimated at 5%
to 7% per year.
It’s just that the competition is very tight
due to a large number of similar companies operating in the country such as PT.
Ria Houseares, PT. Keisi Indonesia, PT. Foodteco, CV. Millani Surya Persada,
PT. Impressindo Karya Steel, PT. Nutraco Pratama Indoneisa, etc. Business position of UD. JAM is favorable for
it has controlled a wide marketing network at Jakarta and its surroundings.
Until this time UD. JAM has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. UD.
JAM’s management is very reclusive to outsider and rejecting to disclose its
financial condition but we estimated the total sales turnover of the company in
2011 amounted to Rp. 33.0 billion increased to Rp. 37.0 billion in 2012 and
rose again to Rp. 42.0 billion in 2013.
The operation in 2013 yielded an estimated net profit of Rp. 2.8 billion
and it is estimated the company has an estimated total assets at least Rp. 5.0
trillion. It is projected that total
sales turnover of the company will increase at least 8% in 2014. So far, we did not hear 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 the Company is headed by
Mr. Tommy Thendian (42) a businessman with 16 years of experience in trading,
import and distribution of kitchen equipments and cooking utensils. Daily operation, he is assisted by his older
sister Mrs. Yulie Thendian (44) as Financial Manager. The management is quite creative and dynamic,
having maintained a wide business relation with private businessmen at home and
abroad and with the government sectors as well. We observed that management’s
reputation in said business is fairly good. So far, we did not hear that the
company’s management involved in the business malpractices or detrimental cases
that settled in the country. The company’s litigation record is clean and it
has not registered with the black list of Bank of Indonesia.
UD. JAYA AGUNG MAKMUR is sufficiently fairly
good for business transaction. However, in view of the unstable economic
condition in the country we recommend to treat prudently in extending a loan to
the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.27 |
|
|
1 |
Rs. 103.66 |
|
Euro |
1 |
Rs. 85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.