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Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. KHARISMA SATYA JAYA |
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Registered Office : |
Jalan Pintu Air No. 38-C, |
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Country : |
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Date of Incorporation : |
11.01.2012 |
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Com. Reg. No.: |
No. AHU-04859.AH.01.01.TH.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in Export-Import and General Trading of Agricultural
Products such as cocoa beans,
nutmeg, mace, clove, spice, gum rosin, turpentine oil & dammar |
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No. of Employees |
08 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
P.T. KHARISMA SATYA JAYA
Head Office
TCT Building, 11th
Floor, Suite 3N
Jl. M.H. Thamrin
No. 81
Jakarta 10310
Indonesia
Phones -
(62-21) 3199 7190-92, 3199 6256-61
Fax - (62-21) 3199 6257
Email - suresh@ptksj.com or manjitn@cbn.net.id
Building Area -
33 storey
Building Space -
120 sq. meters
Region - Commercial
Status - Rent
Registered Office
Jalan Pintu Air No. 38-C, Central Jakarta
11 January 2012
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No. AHU-04859.AH.01.01.TH.2012
Dated 31 January 2012
National Private Company
The Department of
Finance
NPWP – Not available
a. P.T. AMESH INDAH INTERNATIONAL (Export Import of Steel and Iron,
Chemical, Alumina
Hydrate and Garment Products)
b. P.T. ISPAK (Export, Import and General Trading)
c. Etc.
Capital
Structure :
Authorized
Capital - Rp.
1,000,000,000.-
Issued
Capital - Rp. 750,000,000.-
Paid up
Capital - Rp. 750,000,000.-
Shareholders/Owners
:
a. Mr. Suresh
Kishinchand Chandiramani - Rp.
300,000,000.- (40%)
Address : Jl. Merpati Block A-20,
Gunung Sahari, Kemayoran
Jakarta Pusat
Indonesia
b. Mrs.
Kharisma Suresh Chandiramani -
Rp. 300,000,000.- (40%)
Address : Jl. Merpati Block A-20,
Gunung Sahari,
Kemayoran
Jakarta Pusat
Indonesia
c. Mr.
Kishinchand Moolchand Chandiramani -
Rp. 150,000,000.- (20%)
Address : Jl. Pintu Air Raya No.
38-C
Pasar Baru, Sawah Besar
Jakarta Pusat
Indonesia
Lines of
Business :
Engaged in Export-Import and General Trading of Agricultural
Products such as cocoa beans,
nutmeg, mace, clove, spice, gum rosin, turpentine oil & dammar
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
April 2012
Brand Name :
None
Technical
Assistance :
None
Number of
Employee :
8 persons
Marketing Area
:
Export -
50%
Local -
50%
Main Customer
:
Buyers in India, USA, Japan and local distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. FORBESTINDO INTITAMA
b. P.T. HOME DECOR
c. P.T. WAHANAKARYA SUPPLAINDO
d. P.T. KENCANA GRAHA GLOBAL
e. Etc.
Business Trend
:
Growing
Banker :
STANDARD CHARTERED Bank
Wisma Standard Chartered Bank
Jalan Jend. Sudirman No. 33 A
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2012 – Rp. 2,400 million
2013 – Rp. 6,800 million
Net Profit (estimated) :
2012 – Rp. 110 million
2013 – Rp. 310 million
Payment Manner
:
Fairly
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Suresh
Kishichand Chandiramani
Director -
Mrs. Kharisma Suresh Chandiramani
Board of Commissioner:
Commissioner - Mr. Kishinchand Moolchand
Chandiramani
Signatories :
President Director (Mr. Suresh
Kishinchand Chandiramani) or the Director (Mrs. Kharisma Suresh Chandiramani)
which must be approved by board of commissioner
Management Capability :
Fairly
Business Morality :
Fairly
P.T. KHARISMA SATYA JAYA (P.T. KSJ) was incorporated in Jakarta based on
notary deed of Titiek Irawati Sugianto, SH., No. 9 dated 11 January 2012 with
an authorized capital of Rp. 1,000,000,000.- of which Rp. 750,000,000.- was
issued and fully paid up. The founding
shareholders of the company are Mr. Suresh Kishinchand Chandiramani (40%), his
wife Mrs. Kharisma Suresh Chandiramani (40%) and his father Mr. Kishinchand
Moolchand Chandiramani (20%). They are
Indonesian businessmen/woman of Indian descent. The company notary act was approved by the
Ministry of Law and Human Rights in its Decision Letter No.
AHU-04859.AH.01.01.Tahun 2012 dated 31 January 2012. No changes have been effected in term of its
shareholding composition and capital structures to date.
We observe that the founder and the majority share owner of the company namely Mr. Suresh Kishinchand Chandiramani,is also the founder and the majority business stake owner of P.T. AMESH INDAH INTERNATIONAL dealing with export import of steel and iron, chemical, alumina hydrate and garment products and P.T. ISPAK (import, export and general trading).
Pursuant to the company’s notary deed, P.T. KSJ engaged to operate in trading, import-export, distribution, supplier, transportation, agriculture, forestry, industry and services. The Company’s registered office located at Jalan Pintu Air No. 38-C, Central Jakarta and the company can open branch offices or representative offices at home and abroad.
But, we observed that the company’s head office located at TCT Building, 11th Floor Suite 3N, Jl. M.H. Thamrin No. 81, Central Jakarta. P.T. KSJ has been in operation April 2012 dealing with export-import and general trading of agriculture products such as cocoa beans, nutmeg, mace, clove, spice, gum rosin, turpentine oil & dammar. P.T. KSJ is agents for export of Gum Rosin and Turpentine Oil and Oleo Pine Resin from Indonesia (Perum Perhutani and Department of Forestry). Besides export of Gum Rosin and Turpentine, P.T. KSJ represents companies from India, China, Europe, and USA for various chemicals and raw materials. The company primarily supply to the adhesive, construction, coatings, food, paint, printing ink, soap, rubber and textile industry. We observe that P.T. KSJ is classified as a new company of its kind in the country of which the operation has been growing in the last two year.
We have noticed that the demand for agricultural products and other spices had increased some 8% to 10% per annum in the last five years in line with the growth of various food and beverage products, traditional and herbal medicine. In the coming years, the growth rate of demand is estimated at about 7% to 8% 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 trading and distribution of beauty and milk soap, and fruit juice products with many companies now doing business in this field in Indonesia. P.T. KSJ is classified as a new company of its kind in the country of which the operation has been growing slowly.
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 750 million as stated in 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. KSJ is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company as of April to December 2012 amounted to Rp. 2,400 million with a net profit of Rp. 110 million is projected that total sales turnover of the company will increase at least 10% in 2013. We observe that P.T. WARIS is supported by financially strong behind it. 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, P.T. KSJ is headed Mr. Suresh Kishinchand Chandiramani (55) as President Director. He is a businessman of Indian origins who experienced for more than 25 years in the field of export-import and general trading. He is also as president director of PT. Istana Palapa Kertas (PT. ISPAK). In daily activities, he is assisted by his wife Mrs. Kharisma Suresh Chandiramani (50) as Director. So far, we did not hear that the company’s management involved in a 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. We observed that the company’s management is
not actively joined in any political party activity in the country. Since this company (PT. KSJ) just about two
years in operation commercially, so we recommend caution when going to provide
fresh loans to them. Or it should obtain
sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.16 |
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UK Pound |
1 |
Rs.103.44 |
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Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
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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.