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Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. SECUREPLUS INDONESIA |
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Registered Office : |
Komplek Sri Jaya Abadi Block B No. 4, Lubuk Baja Kota, Lubuk Baja, Batam Island, 29444, Kepulauan Riau Province |
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Country : |
Indonesia |
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Date of Incorporation : |
01.11.2008 |
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Com. Reg. No.: |
No. AHU-95212.AH.01.01.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Supply and Distribution of Security System Equipment |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 76,800 |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 |
Name of Company :
P.T. SECUREPLUS INDONESIA
A d d r e s s :
Head Office
Komplek Sri Jaya Abadi Block B No. 4
Lubuk Baja Kota, Lubuk Baja
Batam Island, 29444
Kepulauan Riau Province
Indonesia
Phones -
(62-778) 428002, 455280
Fax - (62-778) 429430
E-mail - hery@secureplus.co.id
Website - http://www.secureplus.co.id
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
1 November 2008
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
No. AHU-95212.AH.01.01.TH.2008
Dated 10 December 2008
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 02.903.350.3-215.000
Related Company :
P.T. WEEFER INDONESIA (Trading and Distribution of Information
Technology Solution Services)
Capital Structure :
Authorized Capital : Rp.
800,000,000.-
Issued Capital : Rp.
200,000,000.-
Paid up Capital : Rp. 200,000,000.-
Shareholders/Owners :
a. Mr. Hery -
Rp. 70,000,000.-
Address : Bukit Mas Block C No. 7, RT. 001 RW. 004
Kelurahan Lubuk Baja Kota,
Kecamatan
Lubuk Baja, Batam,
Kepulauan Riau
Province, Indonesia
b. Mr. Robert -
Rp. 55,000,000.-
Address : Komplek Cempaka Block C/7, RT. 002 RW. 004
Kelurahan Lubuk Baja Kota,
Kecamatan Lubuk
Baja, Batam, Kepulauan Riau
Province
Indonesia
c. Mr. William Ser -
Rp. 55,000,000.-
Address : Komplek Srijaya Abadi, RT. 002 RW. 008
Kelurahan Lubuk Baja Kota,
Kecamatan Lubuk
Baja, Batam, Kepulauan Riau
Province
Indonesia
d. Mr. Johan -
Rp. 20,000,000.-
Address : Kampung Utama Block B No. 30, RT. 005 RW.
007, Kelurahan Lubuk Baja
Kota, Kecamatan
Lubuk Baja, Batam,
Kepulauan Riau Province
Indonesia
Lines of Business :
Trading, Supply and Distribution of Security System Equipment
Production Capacity :
None
Total Investment :
None
Started Operation :
2009
Brand Name :
Secureplus Indonesia
Technical Assistance :
None
Number of Employee :
18 persons
Marketing Area :
Local - 100%
Main Customer :
Office Building, Banking and Financial Institution
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ACEQUARD SAFETY AND SECURITY
b. P.T. BUT SECURITY ENGINEERING
c. P.T. REKATAMA INTIDAYA
d. P.T. SMARTINDO INTEGRASI SYSTEM
e. P.T. THANO TECHNOLOGIES
Business Trend :
Growing
B a n k e r s :
P.T. Bank CENTRAL ASIA Tbk
Jalan Raja Ali Haji No. 18
Batam, Kepulauan Riau Province
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 6.0 billion
2012 – Rp. 6.7 billion
2013 – Rp. 7.5 billion
Net Profit (estimated) :
2011 – Rp. 360 million
2012 – Rp. 402 million
2013 – Rp. 450 million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Hery
Board of Commissioners :
Commissioner - Mr. Johan
Signatories :
Director (Mr. Hery) which must be
approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
Maximum Credit Limit :
US$ 76,800 on 90 days D/A
P.T. SECUREPLUS INDONESIA (P.T. SPI) was established in Batam, Kepulauan
Riau Province based on notary deed Mr. Anly Cenggana, SH., no. 1 dated 1
November 2008 with the authorized capital of Rp. 800,000,000 issued capital of
Rp. 200,000,000 entirely paid up. The founding and shareholders of the company
are Mr. Hery (35.0%), Mr. William Ser (27.5%), Mr. Robert (27.5%) and Mr. Johan
(10%), they are Indonesian businessmen of Chinese extraction. Based on our
knowledge up to writing the report the notary documents of the company have not
undergone any changes. The notary deed of incorporation was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-95212.AH.01.01.TH.2008 dated December 10, 2008.
P.T. SPI has been operating since 2009 engaged in the field of trading,
supply and distribution of security system equipments. The company provides and
sells of security control equipment such as surveillance camera system,
biometrics attendance and access control to IT infrastructure, networking and
peripherals, and software licensing solutions. SecurePlus provides the security
systems most respected offering of discreet camera domes and enclosures,
megapixel cameras, IP solutions, next-generation digital video recorders, Full
HD LCD displays, video matrix systems, and fiber optic transmission systems for
video/data – and much more. P.T. SPI committed to providing their customers
with innovative, superior quality products that are competitively priced and
nearly always available off the shelf. According information from Mr. Hery,
Director of the company said the type of products sells by the company among
others are WMware, Security Solution (Surveillance System, Biometrics
Attendance and Access Control); IT Infrastructure (PC, Desktop, Server, Network
and Storage and Software Licensing) uses PELCO and HITACHI brands. The whole
products imported from Japan, Singapore, India and other countries. The whole
products supplied to various industries, banking and financial institution,
insurance, office building in Batam, Tanjung Pinang, Bintan and Kepulauan Riau
Province. We observe P.T. SPI is classified a small sized company of its kinds
with operation has been growing and developing well in the last three years.
The demand of security system equipment has kept on increasing by 6% to
8% in the last five years in line with the growth and development of industrial
sectors, office building, property and others as customers. Global economic
downturn and the necessity for stabilizing national economy have affected
Indonesia’s economic growth. Domestic economy in 2013 was estimated to grow
5.7%, slower when compared to 2012 growth of 6.2%. In 2014, national economic
growth is expected to be better, close to the lower limit of the range of
5.8%-6.2% in line with the improvement of global economy. Inflation in 2013
rose to 8.38% from 4.30% in 2012, or above the inflation target of 4.5±1%,
caused by the turmoil of domestic food prices and the increase of subsidized
fuel prices at the end of June 2013. Then, the increase in subsidized fuel
prices has pushed the increase in prices. However, the inflation gradually
returned to normal since September 2013. Looking ahead, Bank of Indonesia
believes that inflation will remain under control in the range of 4.5±1% in
2014 and 4.0±1% in 2015 (Source: Bank Indonesia/Tinjauan Kebijakan Moneter
Januari 2014).
Until this time P.T. SPI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. SPI is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimated that total sales turnover of the
company in 2011 amounted to Rp. 6.0 billion rose to Rp. 6.7 billion in 2012
increased to Rp. 7.5 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. 450 million and the company has an estimated total networth of at least Rp.
1.0 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. SPI is led by Mr. Hery or Hery Liandro (28) a
young businessman with experience in trading, supply and distribution of
security system equipments. He graduated from Bina Nusantara University in
Computer Science. 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. SECUREPLUS
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
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|
1 |
Rs.102.40 |
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Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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Report Prepared
by : |
NNA |
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 |
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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 |
|
-- |
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.