|
Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
C.V. ALTA MEGA MULIA |
|
|
|
|
Registered Office : |
Jalan Puri Sukolilo
Barat III No. 109 PC 306 Puri Galaxy |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Partnership with Sleeping Partner |
|
|
|
|
Line of Business : |
Trading and Exporter of Agriculture Commodities Products |
|
|
|
|
No. of Employees : |
11 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No complaints |
|
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 |
C.V. ALTA MEGA MULIA
Head Office
Jalan Puri
Sukolilo Barat III No. 109 PC 306
Puri Galaxy
Surabaya, 60111
East Java
Indonesia
Phone -
(62-31) 7012 5500
Fax - (62-31) 5825 3533
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2001’s
Legal Form :
C.V.
Commanditaire Vennootschap or Partnership with Sleeping Partner
Company Reg.
No. :
Not Required
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
Capital
Structure :
Owned Capital : Rp. 250
million
Owners :
a. Mr. Erwin Citrajaya (Active Partner)
b. Mrs. Citrajaya (Silent Partner)
Lines of
Business :
Trading and
Exporter of Agriculture Commodities Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2001’s
Brand Name :
Alta Mega Mulia
Technical
Assistance :
None
Number of
Employee :
11 persons
Marketing Area
:
Local - 30%
Export - 70%
Main Customer
:
Buyers in Europe
Union and the USA
Market
Situation :
Very Competitive
Main
Competitors :
a. C.V. INDO
NIAGA ABADI
b. C.V. MEGANTARA
NIAGA ABADI
c. C.V. MULTI
NIAGA ABADI
d. C.V. NIAGA
JAYA ABADI
e. C.V. UNGGUL
NIAGA ABADI
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Kertajaya
Indah Timur No. 37-39
Surabaya, East
Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 4.0
billion
2012 – Rp. 4.4
billion
2013 – Rp. 5.0
billion
Net Profit
(estimated) :
2011 – Rp. 0.2
billion
2012 – Rp. 0.3
billion
2013 – Rp. 0.5
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Erwin Citrajaya
Board of Commissioners :
Commissioner -
Mrs. Citra Jaya
Signatories :
Director (Mr. Erwin Citrajaya)
is only the authorized person to sign the loan on behalf of the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
C.V. ALTA MEGA MULIA (C.V. AMM) was established in Surabaya, East Java
in 2001’s with the legal status of C.V. (Commanditaire Vennootschap) or
Partnership with Sleeping Partner. The founding and owners of the company is
Mr. Erwin Citrajaya as active partners and his wife Mrs. Citra Jaya Erwin as
silent partner both of are indigenous business family. As in common in cases of
companies with C.V. status, there is no mention in the company’s notarial act
of its capital structure. But going by the company’s conditions, we estimate
its capital at some Rp. 250 million.
C.V. AMM has been operating since 2001 dealing with trading and exporter
of agriculture commodities products. Mr. Erwin Citrajaya, Director and owner of
the company explained the agriculture commodities products among others are Gum
Rosin, Turpentine Oil, Hydrogen Peroxide, Refined Glycerine USP 99.5%, PFAD,
RBD Palm Stearin, Tapioca Starch, Wheat Bran, Wheat Bran Pellet and others. The
whole products obtained from Lampung, Medan (Sumatera), East Java and other
cities in Indonesia. Mr. Erwin Citrajaya also added that the company’s market
is worldwide especially China, India, South Korea, Pakistan, Hong Kong and
southeast countries. We observe that C.V. AMM is classified a small size
company of its kinds with operation has been growing slowly 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 C.V.
AMM to be in a quite favorable position for having already got hold of a steady
clientele in the country and abroad.
Until this time C.V. AMM has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of C.V. AMM 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. 4.0 billion rose to Rp. 4.4 billion in 2012
increased to Rp. 5.0 billion in 2013 and projected to go on rising by at least
6% in 2014. The operation in 2013 yielded an estimated net profit of at least
Rp. 0.5 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 C.V. AMM is led by Mr. Erwin Citrajaya (46) a
businessman and professional manager with experience in trading, export import
of agriculture 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 fairly good for business transaction. However, in view
of the global economic slowdown we recommend to treat prudently in extending a
loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.99 |
|
|
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.