MIRA INFORM REPORT

 

 

Report Date :

05.06.2014

 

IDENTIFICATION DETAILS

 

Name :

P.T. BINTANG UFUK TIMUR

 

 

Registered Office :

Jalan Raya By Pass Gempol, Ruko Gempol Inter Change A – 18, Desa Legok, Kecamatan Gempol, Pasuruan, 67155, East Java

 

 

Country :

Indonesia

 

 

Date of Incorporation :

21.06.2008

 

 

Com. Reg. No.:

AHU-32742.AH.01.01.TH.2009

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trader, Importer and Distributor of various machinery among others machinery and automotive component and parts, industrial chemical, metals products, textile, food and beverages

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Indonesia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

D

 

 

INDONESIA - ECONOMIC OVERVIEW

 

Indonesia, a vast polyglot nation, has grown strongly since 2010. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25% 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 also faces the challenges of quelling labor unrest and reducing fuel subsidies in the face of high oil prices

 

Source : CIA

 

 

 

BASIC SEARCH

 

Name of Company :

P.T. BINTANG UFUK TIMUR

 

 

Address :

Registered Office

Jalan Raya By Pass Gempol

Ruko Gempol Inter Change A – 18

Desa Legok, Kecamatan Gempol

Pasuruan, 67155

East Java

Indonesia

Phones             - (62-31) Not Available

Fax                   - (62-31) Not Available

Building Area    - 2 storey

Office Space    - None

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation :

21 June 2008

 

 

Legal Form :

P.T. (Perseroan Terbatas) or Limited Liability Company

 

 

Company Reg. No. :

The Ministry of Law and Human Rights

No. AHU-32742.AH.01.01.TH.2009

Dated 15 July 2009

 

 

Company Status :

National Private Company

 

 

Permit by the Government Department :

The Department of Finance

Not Available

 

 

Related Company :

None

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                           : Rp. 1,000,000,000.-

Issued Capital                                 : Rp.    525,000,000.-

Paid up Capital                               : Rp.    525,000,000.-

 

 

Shareholders/Owners :

a. Mr. Udiyanto                                                       - Rp. 370,000,000.-

    Address : Jl. Rungkut Menanggal I/44

                    Kelurahan Rungkut Menanggal, Keca

                    Matan Gunung Anyar, Surabaya,

                    East Java, Indonesia

b. Mr. Teguh Satriyanto                                          - Rp. 155,000,000.-

    Address : Jl. Jojoran 3/179

                    Kelurahan Mojo, Kecamatan Gubeng

                    Surabaya, East Java, Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading, Import, Distribution, etc.

 

 

Production Capacity :

None

 

 

Total Investment :

None

 

 

Started Operation :

Unknown

 

 

Brand Name :

Bintang Ufuk Timur

 

 

Technical Assistance :

None

 

 

Number of Employee :

None

 

 

Marketing Area :

Local    - 100%

 

 

Main Customer :

Unknown

 

 

Market Situation :

Unknown

 

 

Main Competitor :

None

 

 

Business Trend :

No comment

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

Unknown

 

 

Auditor :

Internal Auditor

 

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

Unknown

 

 

Net Profit (Loss) :

Unknown

 

 

Payment Manner :

Unknown

 

 

Financial Comments :

Weak

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                          - Mr. Udiyanto

 

 

Board of Commissioner :

Commissioner                                 - Mr. Teguh Satriyanto

 

 

Signatories :

Director (Mr. Udiyanto) which must be approved by Board of Commissioner

 

 

CAPABILITIES

 

Management Capability :

Weak

 

 

Business Morality :

Prudent

 

 

OVERALL PERFORMANCE

 

Based on investigation through the above address and telephone number (62-31) 5344715, we did not found P.T. BINTANG UFUK TIMUR, but we found P.T. BAJA KARYA SEJATI. The telephone number (62-31) 5344715 is registered on P.T. BAJA KARYA SEJATI. Besides, P.T. BINTANG UFUK TIMUR has yet been registered on Telkom Information of Surabaya, East Java.

 

P.T. BINTANG UFUK TIMUR (P.T. BUT) was established in Surabaya, East Java based on notary deed Mrs. Margaretha Dyanawati, SH., no. 391 dated 21 June 2008 with the authorized capital of Rp. 1,000,000,000 issued capital of Rp. 525,000,000 entirely paid up. The founding and shareholders of the company are Mr. Udiyanto (70.48%) and Mr. Teguh Satriyanto (29.52%). The notary deed of incorporation was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-32742.AH.01.01.TH.2009 dated July 15, 2009.

 

P.T. BUT is a national private company plans its activity to be engaged in the field of trading, import, supply, and distribution services. According information from the Department of Trade, the company will be import of various machinery among others machinery and automotive component and parts, industrial chemical, metals products, textile, food and beverages. Pursuant to the deed of notary of the company, P.T. BUT dealing with general trading, export import of agricultural commodities, industry, general contracting, trading and supplies, plantation, hatchery, land clearing, garment and textile industry, freight forwarding services, custom clearance, logistic services, custom brokerage services, trading and distribution, export import services, industry, manufacturing, general trading such as trading of technical, electrical, mechanical goods, and building material, and acting as supplier, distributor, wholesaler and agent of the companies both inside or outside the country. We didn’t know the complete line of business of P.T. BUT due to the complete address of the company was not found. 

 

We refrain from informing business prospect of P.T. BUT because of having yet found the complete address up to present. In view of having yet to be unknown the complete address, the company’s financial condition is as much as the company’s issued capital worth Rp. 525,000,000. We find that the company’s financial condition still depends on the financial condition of its shareholders being supported by the businessmen behind it.

 

Based to the company notary deed, the management of P.T. BUT is led by Mr. Udiyanto (40) as director and Mr. Teguh Satriyanto (32) as commissioner. The management will eventually be handled by professional managers having wide relation with overseas and national private businessmen as well as with the government sectors. In view of P.T. BINTANG UFUK TIMUR having yet to be unknown the complete address, we recommend that a high degree of prudence be observed in business transactions and adequate collateral from its shareholders be acquired in extending a new loan to the company.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 59.33

UK Pound

1

Rs. 99.18

Euro

1

Rs. 80.76

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.