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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. DAYA MATAHARI INDONESIA |
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Registered Office : |
Jalan Halim Perdana Kusuma No. 23, Kediri, 64132, East Java |
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Country : |
Indonesia |
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Date of Incorporation : |
07.08.2012 |
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Com. Reg. No.: |
No. AHU-48862.AH.01.01.TH.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the Renewable Energy System Services |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 |
Name of Company :
P.T. DAYA MATAHARI INDONESIA
A d d r e s s :
Head Office
Jalan Halim Perdana Kusuma No. 23
Kediri, 64132
East Java
Indonesia
Phones -
(62-354) 32033477, 46808033
Fax - (62-354) 46808033
E-mail - mail@prosol.co.id
Website - http://www.prosol.co.id
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
7 August 2012
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
No. AHU-48862.AH.01.01.TH.2012
Dated 14 September 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
Not Available
Related Company :
None
Capital Structure :
Authorized Capital : Rp.
500,000,000.-
Issued Capital : Rp.
200,000,000.-
Paid up Capital : Rp. 200,000,000.-
Shareholders/Owners :
a. Mrs. Irma Fahriani Cholida -
Rp. 180,000,000.-
Address : Jl. Sumber Jiput 20, RT. 001 RW. 001
Kelurahan Rejomulyo,
Kecamatan Kota
Kediri, East Java
Indonesia
b. Mrs. Ernik Martus Solekah -
Rp. 20,000,000.-
Address : Jl. Ratulangi Gang 1 No. 3, RT. 001 RW. 003
Kelurahan Setonopande,
Kecamatan Kota
Kediri, East Java
Indonesia
Lines of Business :
Renewable Energy System Services
Production Capacity :
None
Total Investment :
None
Started Operation :
2013
Brand Name :
Daya Matahari Indonesia
Technical Assistance :
None
Number of Employee :
25 persons
Marketing Area :
Local - 100%
Main Customer :
Hotel, Cottage, Industrial
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CONTAINED ENERGY
b. P.T. GLOBAL POWER SYSTEMS
c. P.T. PAESA PASINDO ENGINEERING
d. P.T. TRIMBA SOLAR SYSTEM
e. P.T. WIND ENERGY INDONESIA
Business Trend :
Growing
B a n k e r s :
P.T. Bank MANDIRI Tbk
Jalan Diponegoro No. 17
Kediri, East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2013 – Rp. 13.8 billion
Net Profit (estimated) :
2013 – Rp. 832 million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mrs. Irma Fahriani Cholida
Board of Commissioners :
Commissioner - Mrs. Ernik Martus Solekah
Signatories :
Director (Mrs. Irma Fahriani Cholida)
which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
P.T. DAYA MATAHARI INDONESIA (P.T. DMI) was established in Kediri, East Java
based on notary deed Mrs. Meira Astri, SH., no. 39 dated 7 August 2012 with the
authorized capital of Rp. 500,000,000 issued capital of Rp. 200,000,000
entirely paid up. The founding and shareholders of the company are Mrs. Irma
Fahriani Cholida (90%) and Mrs. Ernik Martus Solekah (10%) both are indigenous
businesswoman. The notary deed of incorporation was approved by the Ministry of
Law and Human Rights in its decision letter No. AHU-48862.AH.01.01.TH.2012
dated September 14, 2012.
P.T. DMI is a national private company started to be operating since
2013 dealing with renewable energy solution services. P.T. DMI supports the
customers from the first planning stage until completion of the system. P.T.
DMI provides has over 12 installed domestic solar systems 15 commercial and
industrial solar system with buffer technique 1500 general heating applications
(10-5000 kW) 30+ solar PV water pumping solutions 200+ solar on grid solutions
10+ solar off grid solutions 2000+ water supply and distribution system. The
company sells of various type of products such as Prosol solar system, Prosol
solar hot water, Lorentz solar pump, Solar PV system, HKR technik GmbH, HKR
head pumps and others. Hybrid Energy Solutions
is committed to the integration of various energy sources such as photovoltaic,
wind turbines, fuel cells or diesel generators in hybrid energy supply systems.
P.T. DMI professional system technology partner when it comes to scalable
future-proof energy systems boasting excellent prospects for remote industrial,
hybrid installations starting at 300 kW (HES Industrial).
P.T. DMI is also the ones to turn to for classic stand-alone grids starting at
2-300 kW to supply energy to rural, off-grid regions (HES Residential). They
provide customers with complete support, from the initial planning phase all
the way to system commissioning.
To support of its operation in renewable energy solution, P.T. DMI is an
authorized distributor for RESOL solar thermal electronic technology; Lorentz
solar DC pump application; Paradigma thermal solar collector and storage tanks;
SMA inverter and solar electronic system; Hoppecke batteries for solar
application all of Germany; Grundfor water pumping solution from P.T. Grundfos
Pompa Indonesia; JA Solar PV solar panel of China and Ever Exceed batteries and
electrical equipment of Brazil.
The company has installed various projects such as Suarga Resort Padang
Bali 4500 liter split solar system 70 kW off grid system, 4 solar pool pump for
250 gm water; Villa Anugrah Uluwatu 800 liter split solar system; Private Villa
Changu Bali 300 liter split solar system, solar panel pump for 50 gm water,
solar deep well pump for 10 gm/d; Villa Complex Umalas Bali 1000 liter split
solar system; Bali Sandat resort Bondalem 500 liter split solar system; Private
Villa Sanur Creative Solution Architect 500 liter split solar system; Private
Villa Sanur 300 liter split solar system; PPWW foundation projects in Sumba
solar pumping system 120 gm/d; Villa Na Bali Nusa Dua solar system 20 gm/d and
water tower; Private Villa Changu solar pool pump 150 gm, solar deep well pump
10 gm/d; Solar pumping project in Billa Jenga Sumba 10 gm/d; Solar pumping Kodi
Sumba 15 gm/d and others.
The energy crisis is expected to hit Indonesia in
twenty to thirty years to come. The use of fossil energy (oil and coal) to back
up non-renewable energy is running low on Earth, so the need for a new
breakthrough to shift the use of energy sources that can support life to
achieve the welfare of the community. One that can be a source of renewable
energy is the solution. Renewable energy (renewable energy ) is the energy that
comes from natural resources such as hydro, solar, wind, geothermal, wave
energy that can be renewed naturally. This renewable energy is sustainable,
meaning that there are in nature and will not run out. Classified into the
natural potential of renewable energy sources is very abundant in almost every
corner of the globe, not least in the country of Indonesia.
The geographical conditions which strongly supports
the Indonesian state makes many opportunities to take advantage of this energy
source. Starting from the location of Indonesian territory traversed by the
equator makes this region receives maximum exposure from the sun, making it
possible to be utilized as the solar cell plant. In addition, the geographical
location which is at the junction of two continents and oceans, making the wind
potential in the region of Indonesia is very large, and most of the year is
never lost. The wind potential we can also use wind power to generate
electricity.
In addition to geographical conditions, parts of
Indonesia also have a very large natural support from earth conditions.
Indonesian state consisting of tens of thousands of the island 's two volcanic line
traversed the world, making Indonesia the earth filled with volcanoes that
produce abundant geothermal power. Row of volcanoes that stretches from Sabang
to Merauke, Indonesia made the earth rich in
geothermal resources. Geothermal is what can be used for renewable energy
sources as geothermal power plants. Other terrestrial condition is the
potential for very abundant hydropower. Almost every large island that has
populated the river, both large and small rivers. However big or small river
was not a problem, since water power can still be produced from both.
Hydropower (Hydropower) can also be utilized as a sustainable source of
renewable energy, and can change to another power, namely power.
Based on the above, it should be a prosperous
society with the fulfillment of the source of life. However, today the
Government has not maximized the potential of renewable energy, and still rely
on fossil fuels as a primary energy source. Sources of oil and non-renewable
coal is increasingly thinning. Within a day, we need an average of 1.3 million
barrels of oil, while the oil reserves in the bowels of the earth could only
produce 900,000 barrels of oil per day. So the government had to buy oil from
other countries to meet our energy needs. Not much different from coal, the
impact of their use is very large, in addition to the benefits too much. Coal
mining process makes uncontrolled severe natural damage.
When compared with renewable energy sources, it is
appropriate that all the elements in the country is aware of and act to
immediately take advantage of this energy source, in order to achieve a
prosperous life. For example, if all the power plants in our country come from
renewable energy, the electricity generated will be greater the whole country
will uses electricity. Human activity that requires full energy use existing
power sources. Developing country turn their industrial activities use energy
sources by using electricity sourced from renewable energy, so that life will
be more harmonious and more prosperous society. Government will not continue to
buy oil from other countries, which will reduce the value of the state budget
on the purchase of energy sources, and can reduce debts at the same time close
to the other countries of the profits on the utilization of renewable energy.
Until this time P.T. DMI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. UKI is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimated that total sales turnover of the
company in 2013 amounted to Rp. 13.8 billion 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. 832 million and the company has an estimated total networth of at
least Rp. 2.0 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 P.T. DMI is led by Mrs. Irma Fahriani Cholida (30) a
businesswoman with experience in renewable energy solution services. 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. DAYA MATAHARI INDONESIA is
sufficiently fairly good for business transaction. However, in view of the
unstable political in the country we recommend to treats prudently in extending
a loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
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|
1 |
Rs.99.42 |
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Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
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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.