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Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. TOTAL GLOBALINDO |
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Registered Office : |
Jl. Boulevard Bukit Gading Kokan Permata Blok C No. 32, Kelapa Gading, North Jakarta 14240 |
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Country : |
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Date of Incorporation : |
29.08.2008 |
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Com. Reg. No.: |
No. AHU-77934.AH.01.01.Tahun 2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in trading and importing of building materials such as marble, granite and ceramic tiles. |
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No. of Employees |
42 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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.
|
Source : CIA |
P.T. TOTAL GLOBALINDO
Head Office
Jl. Boulevard Bukit Gading Kokan
Permata Blok C No. 32
Kelapa Gading,
North Jakarta 14240
Indonesia
Phone - (62-021) 45857430
Fax. -
(62-021) 45860502
Building Area - 2 storey
Office Space - 45 sq. meters
Region - Commercial
Status - Rent
29 August 2008
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No. AHU-77934.AH.01.01.Tahun 2008
Dated 24 October 2008
National Private Company
The Department of
Finance
NPWP No.
02.845.975.8-043.000
None
Capital Structure
:
Authorized
Capital -
Rp. 5,000,000,000.-
Issued
Capital - Rp.
1,250,000,000.-
Paid up
Capital - Rp.
1,250,000,000.-
Shareholder/Owner :
a. Mrs. Imelda Fernawati - Rp. 937,500,000.- (75%)
Address: Jl. Kayu Putih Selatan II No. 43
Kel. Kayu Putih, Pulogadung
East Jakarta, Indonesia
b. Mr. Emmel -
Rp. 312,500,000.- (25%)
Address: Jl. Raya Binong KP Galuga
Kel. Binong, Kec. Curug
Banten, Indonesia
Lines of Business
:
General Trading
and Import of Building Materials
Production
Capacity :
None
Total Investment :
None
Started Operation
:
October 2008
Brand Name :
None
Number of Employee
:
42 persons
Marketing Area :
Domestic - 100%
Main Customers :
a. Building Materials Stores
b. Others
Market Situation :
Very Competitive
Main
Competitors :
a. P.T. BANDUNG
MARMER
b. P.T. INDOKAWA
ROCHLINE MARBLE INDUSTRY
c. P.T.
MARINDATARA RAYA
d. P.T. MARMER
GRANIT MAS, etc.
Business Trend :
Growing
Bankers :
a. PT. Bank CENTRAL ASIA Tbk.
Jl. Kelapa Gading Boulevard Raya
Blok L/1
North Jakarta
Indonesia
b. The Hong Kong and Shanghai bank Corp. (HSBC)
Jl.
Boulevard Barat Blok X B No. 6
North
Jakarta
Indonesia
c. P.T. Bank
NEGARA INDONESIA Tbk.
Jl.
Boulevard Blok LA VI No. 24-25
North
Jakarta
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Net Sales (estimated) :
2009 – Rp. 10.5 billion
2010 – Rp. 22.0 billion
2011 – Rp. 24.5 billion
2012 – Rp. 28.0 billion
2013 – Rp. 32.0 billion
Net Profit (estimated) :
2009 – Rp. 360 million
2010 – Rp. 850 million
2011 – Rp. 980 million
2012 – Rp. 1,230 million
2013 – Rp. 1,405 million
Payment Manner :
Almost Promptly
Financial Comments
:
Satisfactory
Board of Management :
Director - Mr. Emmel
Marketing Manager - Mr. Hartono
Board of Commissioner :
Commissioner - Mrs. Imelda Fernawati
Signatories :
Director (Mr. Emmel) which must be
approved by Board of Commissioner (Mrs. Imelda Fernawati)
Management Capability :
Fairly good
Business Morality :
Fairly good
P.T. TOTAL GLOBALINDO (P.T. TG) was
incorporated in Jakarta based on Notarial Deed No. 81 dated August 29, 2008
made by Notary Meissie Pholuan, SH., a notary in Jakarta with an authorized capital of Rp.
5,000,000,000.- of which Rp. 1,250,000,000.- was issued and fully paid up. The
founding shareholders of the company are Mrs. Imelda Fernawati (75%) and Mr.
Emmel (25%), both are Indonesian businesswoman and businessman of Chinese
extraction. The Deed of establishment has been
approved by the Minister of Law and Human Rights of the Republic of Indonesia
through its Decision Letter No. AHU-779334.AH.01.01.Tahun 2008 dated October
24, 2008. No changes have been effected in term of its shareholding composition
and capital structures to date.
Pursuant to the deed of notary of
the company, P.T. TG engaged to operate in trading, services, development,
transportation, mining, printing, agricultural, workshop repair and industry.
The Company’s registered office located at Jl. Boulevard Bukit Gading Kokan
Permata Blok C No. 32, Kelapa Gading, North Jakarta and the company can open
branch offices or representative offices at home and abroad.
P.T. TG has been operating since October 2008 dealing with the trading
and importing of building materials such as marble, granite and ceramic
tiles. Ms. Lia Oktobiani, an
administration staff of P.T. TG explained that a large extent of the building
materials such as ceramic, granite and marble tile are imported from India,
China and Italy. Whole products of the
company are locally marketed among building materials stores and retail shop in
Jakarta, Depok, Bogor and Bekasi.
Beside, P.T. TG is also dealing with trading, import and distribution of
bathroom equipments, lightings and others.
We observe that P.T. TG is classified as a small sized company of its
kind in the country of which the operation has been growing in the last three
years.
Generally outlook, the demand for building materials such as marble,
granite and ceramic tiles, cements, steel products and other building materials
products has kept on rising well within the last five years in line with the
increasingly growing demand for housing complex and small-medium apartments.
The solid and steady domestic economy, increased government activity in
infrastructure development and improving investment climate in Indonesia with
the rising of Country Rating to Investment Grade, and also supported by
Indonesia’s economic indicators such as inflation, exchange rates and interest
rates are expected to encourage the business sectors.
The global economy is expected to grow faster in 2013 than it did in
2012, although it still face risks stemming from the slowing economic growth in
developed countries and the on going crisis in Europe. Despite the slowing global economy, Indonesia’s
economy still grew quite briskly in 2012.
Indonesia’s economic growth reached 6.23% in 2012, or slightly below the
projection continued in the 2012 Revised State Budged and 2011’s economic
growth of 6.5%
Indonesian Economic Indicators
|
Economic Indicators |
2011 |
2012 |
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Economic Growth |
(%) |
6.5 |
6.23 |
|
Gross Domestic Product |
(Rp trillion) |
7,422.8 |
8,241.9 |
|
GDP per Capita |
(Rp million) |
30.4 |
33.3 |
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PDB per Capita |
(US$) |
3,498.2 |
3,562.6 |
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Inflation |
(%) |
3.79 |
4.30 |
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Middle Rate |
(Rp/US$) |
9,068 |
9,670 |
|
BI Rate (Rate of Bank Indonesia) |
(%) |
6.00 |
5.75 |
Source: Central
Bureau of Statistics and Bank of Indonesia
Until this time P.T. TG has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. Therefore, the company has no obligation to publish financial statement publicly. We have checked to Department of Trade and Industry and found that no financial statement has been reported. P.T. TG’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 2010 amounted to Rp. 22.0 billion increased to Rp. 24.5 billion in 2011 to Rp. 28.0 billion in 2012 and rose again to Rp 32.0 billion in 2013. We estimate that the operation of the company in 2013 gained a net profit of Rp. 1.4 billion with a total asset of Rp. 12.5 billion. So far we did not hear that P.T. TG has been black listed by Bank Indonesia (Central Bank) or having detrimental cases being settled in local district court. The company usually pays its debts punctually to suppliers.
Pursuant to notary deed, the management of P.T. TG is headed by Mr. Emmel (39), a young businessman with experience for some 7 years in trading and import of building materials especially marble, granite and ceramic tiles. Daily, he is assisted by Mr. Hartono as marketing manager, Mrs. Tuti Setiawati as administration staff and a number of sales staff also with experience and expertise in the business. The management has maintained a wide relation with private businessmen at home and abroad as well as with government authorities. So far, we did not hear that the company's management having been involved in the business malpractices.
P.T. TOTAL GLOBALINDO is appraised fairly
good for business transaction. But, since this company just about three years in operation
commercially, so we recommend caution when going to provide fresh loans to
them.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
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UK Pound |
1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.