|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SURYA JAYA |
|
|
|
|
Registered Office : |
Jalan Agung Permai
22 Block C-3/60, Sunter Agung, Tanjung Priok, Jakarta Utara, 14350 |
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Country : |
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|
|
|
Year of Establishments: |
2001 |
|
|
|
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Sole Proprietary Company |
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Line of Business : |
Trading and Exporter of Agricultural Commodities Products |
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No. of Employees : |
07 |
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 |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
SURYA JAYA
Head Office
Jalan Agung Permai 22 Block C-3/60
Sunter Agung, Tanjung Priok
Jakarta Utara, 14350
Indonesia
Phone -
(62-21) 6471 6737
Fax - (62-21) 6471 6737
Mobile Phone - 08581 4396009
E-mail - irwanhashumalmoorjani@gmail.com
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
2001
Sole Proprietary Company
Not Required
National Private
Company
The Department of
Finance
Not Available
None
Capital
Structure :
Owned Capital : Rp. 500
million
Owners :
Mr. Irwan Hashumal Moorjani
Lines of
Business :
Trading and
Exporter of Agricultural Commodities Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2001
Brand Name :
Surya Jaya
Technical
Assistance :
None
Number of
Employee :
7 persons
Marketing Area
:
Export -
100%
Main Customer
:
Buyers in India,
Pakistan and Mid East
Market Situation
:
Very Competitive
Main
Competitors :
a. P.T. ASIA
AGROMAS ABADI
b. P.T. ALAM INDORAMA
c. C.V. BUMI DJAJA
d. C.V. JAYA
BERSAMA
e. Etc.
Business Trend
:
Growing
Banker :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Danau Sunter Utara Block G 7 III No. 1-2
Sunter Pododomo, Tanjung Priok
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 9.0 billion
2012 – Rp. 9.8 billion
2013 – Rp. 10.5
billion
Net Profit
(estimated) :
2011 – Rp. 0.5
billion
2012 – Rp. 0.7
billion
2012 – Rp. 0.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Irwan Hashumal
Moorjani
Board of Commissioners :
None
Signatories :
Director (Mr. Irwan
Hashumal Moorjani) is only the authorized person to sign the loan on behalf of
the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
SURYA JAYA was established in 2001’s in Jakarta with the
status of Sole Proprietary Company. Founders and owner of the company is Mr. Irwan Hashumal Moorjani an
Indonesian businessman of Indian origin. Being as Sole Proprietary Company, the
amount of its authorized capital was not mentioned at the time of its
establishment. We estimate, SURYA JAYA has own capital of about Rp. 500 million
and it will be rising in line with the progress of its business operation.
SURYA JAYA is a private company started to be operating since 2001 is engaged in trading, and export of agricultural commodities products. The company’s dedication to improvement and enhancement has helped them establishing an appreciable rapport with the clients. SURYA JAYA has established a prominent place in the market by not only meeting their requirements but also exceeding their expectations with utmost perfection. Supported by skilled employees and advanced production procedures, SURYA JAYA has been able to offer commendable Soap Noodles, Soaps, Velvet Fabrics, Chemicals and many more. Mr. Irwan Hashumal Moorjani, Director and owner of the company said to our inquiry that the merchandise goods products are:
-
Beverages -
Vetiver Essential Oil
-
Biscuits -
Patchouli Essential Oil
-
Spices
(Nutmeg, Cashew Nuts, Betel Nuts -
Nutmeg Essential Oil
Ginger) -
Gum Copal
-
Chocolates -
Gum Rosin
-
Cooking
Oil From Palm Olein -
Raw Material for Manufacturing
-
Damar
Batu -
Shellac
-
Gum
Damar Batu -
Soap Noodles
-
Essential
Oils -
Velvet Fabrics
-
Soaps
Consistency in their products like Damar Batu, Essential Oil
(Patchouli, Nutmeg and Vetivier), Gum Copal, Gum Damar, continues to be the most
factors that had boosted their growth in the business operation. To incorporate
high standards in the company’s products, SURYA JAYA has appointed a team of
vigil quality inspectors who are efficient in managing effective quality
management system. Through this, SURYA JAYA is able to keep a track on our
production process while maintaining a strict control on the incoming and
outgoing products. The entire commodities product takes place in-house under
the supervision of experts who ensure all the requisite features in their
products. The whole product is
obtained from Java, Kalimantan, Sumatera, Sulawesi and Easter Part of
Indonesia. Then the whole product is exported to India, Pakistan, Mid East and
other countries. We observe the operation of SURYA JAYA has been growing and
developing well in the last three years.
We have noticed that the demand for agricultural products had increased some 10% to 11% per annum in the last five years in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 6% to 7% 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 export import of agricultural products with many companies now doing business in this field in Indonesia. We consider SURYA JAYA to be in a quite favorable position for having already got hold of a steady clientele in the export market.
Until this time SURYA JAYA has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of the company is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in 2011 amounted to Rp. 9.0 billion rose to Rp. 9.8 billion in 2012 increased to Rp. 10.5 billion in 2013 and projected to go on rising by at least 5% in 2014. The operation in 2013 yielded an estimated net profit of at least Rp. 0.8 billion. So far, we did not heard 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 SURYA JAYA is headed by Mr. Irwan Hashumal Moorjani (47) a businessman with experience in trading, export import of agricultural commodities products. The company's management is handled by professional staff in the above business. They have wide relations with private businessmen within and outside the country. 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. We are convinced SURYA JAYA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
UK Pound |
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.