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Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. ERASTIMEX |
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Registered Office : |
Jalan Ratu Kemuning
Block F1 No. 6 B, Komplek Tama Ratu Indah, Kelurahan Kedoya Utara, Kecamatan
Kebon Jeruk, |
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Country : |
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Date of Incorporation : |
02.08.2013 |
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Com. Reg. No.: |
No. AHU-48769.AH.01.01.TH.2013
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in trading, exporting & importing of
agriculture commodities products such as spices, chocolates, gum copal &
gum rosin |
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No. of Employees : |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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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 |
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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. ERASTIMEX INDONESIA
Head Office
Jalan Ratu
Kemuning Block F1 No. 6 B
Komplek Tama Ratu
Indah
Kelurahan Kedoya
Utara, Kecamatan Kebon Jeruk
Jakarta Barat,
11510
Indonesia
Phones -
(62-21) 5698 2328 (Hunting)
Fax - (62-21) 5697 5110
Building Area - 1 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
2 August 2013
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No.
AHU-48769.AH.01.01.TH.2013
Dated 17
September 2013
National Private
Company
The Department of
Finance
Not Available
None
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued Capital : Rp. 300,000,000.-
Paid up Capital : Rp. 300,000,000.-
Shareholders/Owners
:
a. Mr. Eka
Putra Angguna -
Rp. 90,000,000.-
Address : Jl. Pejagalan I No. 73
A, RT. 002 RW. 003
Kelurahan
Pekojan, Kecamatan Tambora
Jakarta Barat
Indonesia
b. Mr. Priyono -
Rp. 90,000,000.-
Address : Jl. Pedongkelan, RT. 013
RW. 013
Kelurahan
Kapuk, Kecamatan Cengkareng
Jakarta Barat
Indonesia
c. Mr.
Dharmawan Setiono -
Rp. 90,000,000.-
Address : Jl. Dahlia No. 34, RT.
014 RW. 001
Kelurahan Jati
Pulo, Kecamatan Palmerah
Jakarta Barat
Indonesia
d. Mrs. Lily
Handayani -
Rp. 30,000,000.-
Address : Jl. Bintaro Tengah
B.2/26-27, RT. 012 RW. 008
Kelurahan
Bintaro, Kecamatan Pesanggrahan
Bintaro,
Serpong, Banten Province
Indonesia
Lines of
Business :
Trading, Export
Import and Distribution of Agriculture Commodities Products
Production
Capacity :
None
Total Investment
:
None
Started
Operation :
September 2013
Brand Name :
Erastimex
Indonesia
Technical
Assistance :
None
Number of
Employee :
11 persons
Marketing Area
:
Export -
100% (Gum Resin)
Main Customer
:
Buyers in India
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ALAM
INDORAMA
b. P.T. ASIA
AGROMAS ABADI
c. C.V. BUMI
DJAJA
d. C.V. JAYA
BERSAMA
e. C.V. PUTRA
NUSA
Business Trend
:
Growing
Banker :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Raya Pejuangan
Kedoya Utara, Kebon Jeruk
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2013 – Rp. 4.0
billion (September – December)
Net Profit (estimated)
:
2013 – Rp. 0.3
billion (September – December)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Dharmawan Setiono
Director -
Mr. Priyono
Board of Commissioners :
President Commissioner -
Mrs. Lily Handayani
Commissioner -
Mr. Eka Putra Angguna
Signatories :
President Director (Mr.
Dharmawan Setiono) or the Director (Mr. Priyono) which must be approved by
Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
P.T. ERASTIMEX INDONESIA (P.T. EI) was set-up in Jakarta based on notary deed Mrs. Lanawati Dewi Soegianto, SH., No. 3 dated 2 August 2013 with the authorized capital of Rp. 1,000,000,000 issued capital of Rp. 300,000,000 fully and paid up. The founding and shareholders of the company are Mr. Eka Putra Annguna (30%), Mr. Priyono (30%), Mr. Dharmawan Setiono (30%) and Mrs. Lily Handayani (10%), they are Indonesian businessmen of Chinese extraction. The notary deed of incorporation was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-48769.AH.01.01.TH.2013 dated September 17, 2013.
P.T. EI has been operating since September 2013 dealing with trading, export import of agriculture commodities products. The company’s dedication to improvement and enhancement has helped them establishing an appreciable rapport with the clients. P.T. EI 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, P.T. EI has been able to offer commendable spices, chocolates, gum copal, gum rosin, and many more. Mr. Eka Putra Angguna, President Director and owner of the company said to our inquiry that the merchandise goods products are;
-
Spices
(Nutmeg, Cashew Nuts, Betel Nuts -
Vetiver Essential Oil
Ginger) -
Patchouli Essential Oil
-
Chocolates -
Nutmeg Essential Oil
- Gum Copal -
Chocolates - Gum Rosin -
Damar Batu
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, P.T. EI has appointed a team of vigil
quality inspectors who are efficient in managing effective quality management
system. Through this, P.T. EI 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 P.T. EI still new operation in last several months.
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 P.T. EI to be in a quite favorable position for having already got hold of a steady clientele in the export market.
Until this time P.T. EI has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. EI is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in the first year operation September to December 2013 amounted to Rp. 4.0 billion with a net profit of Rp. 0.3 billion. It’s projected the sales turnover will be higher by at least 6% in 2014. 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 P.T. EI is led by Mr. Dharmawan Setiono (49) a businessman with experience in trading, export import of agriculture commodities products. Daily activity he is assisted by Mr. Priyono (56) as Director. 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. P.T. ERASTIMEX INDONESIA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
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UK Pound |
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
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 |
|
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 |
-- |
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.