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Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
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Name : |
C.V. BUMI ARTA SELIMA |
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Registered Office : |
Office 8 Level 18-A, Jalan Jend. Sudirman Kav. 52-53, Sudirman Central Business District (SCBD) Lot 28, Jalan Jend. Sudirman Kav. 52-53, Jakarta Selatan, 12190 |
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Country : |
Indonesia |
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Date of Incorporation : |
January, 2012 |
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Legal Form : |
Partnership with Sleeping Partner |
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Line of Business : |
Trading, Export Import and Distribution of Fresh Fruits and Vegetables |
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No. of Employees : |
13 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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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 :
C.V. BUMI ARTA SELIMA
A d d r e s s :
Head Office
Office 8 Level 18-A
Jalan Jend. Sudirman Kav. 52-53
Sudirman Central Business District (SCBD) Lot 28
Jalan Jend. Sudirman Kav. 52-53
Jakarta Selatan, 12190
Indonesia
Phone -
(62-21) 2960 8217
Fax - (62-21) 2960 8218
E-mail - anggorocb@gmail.com
Building Area - 42 storey
Office Space - 50 sq. meters
Region - Commercial
Status -
Rent
Date of
Incorporation :
January 2012
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. 300 million
Shareholders/Owners :
a. Mr. Giri Prakoso (Active Partner)
b. Mr. Aggoro Cahyo (Silent Parners)
Lines of Business :
Trading, Export Import and Distribution of Fresh Fruits and Vegetables
Production Capacity :
None
Total Investment :
None
Started Operation :
2012
Brand Name :
Bumi Arta Selima
Technical Assistance :
None
Number of Employee :
13 persons
Marketing Area :
Local - 100%
Main Customer :
Supermarket, groceries and tradition markets
Market Situation :
Very Competitive
Main Competitors :
a. P.T. AGRO BOGA UTAMA
b. C.V. JERISSCA
c. C.V. OCEAN AGRO MAKMUR
d. C.V. RAJA MANGGIS
e. C.V. SUKSES JAYA
Business Trend :
Growing
B a n k e r :
P.T. Bank CENTRAL ASIA Tbk
Barclays Building
Jalan Jend. Sudirman No. 22-23
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2012 – Rp. 7.7 billion
2013 – Rp. 8.6 billion
Net Profit (estimated) :
2012 – Rp. 0.4 billion
2013 – Rp. 0.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Giri Prakoso
Board of Commissioners :
Commissioner - Mr. Anggoro Cahyo
Signatories :
Director (Mr. Giri Prakoso) is only the
authorized person to sign the loan on behalf of the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
C.V. BUMI ARTA SELIMA (C.V. BAS) was set-up in Jakarta in January 2012 with
the legal status of Commanditaire Vennootschap (CV) or partnership with
sleeping partner. Founder and owners of the company are Mr. Giri Prakoso as
active partner and Mr. Anggoro Cahyo, as silent partners. Being as a
Commanditaire Vennootschap status company, the amount of its authorized capital
was not mentioned at the time of its establishment. We estimate the company has
own capital of about Rp. 300 million and it will be rising in line with the
progress of its business operation.
C.V. BAS has been operating since early 2012 dealing with trading,
export import, supply and distribution of fresh fruits and vegetables. The
company is an Indonesian fruits and vegetables distributors and exporter. The
company offers quality fresh fruits & vegetables from the field to the
table of customers. The merchandise goods including are papaya, mango,
pineapple, guava, melon, water melon, kiwi, oranges, durians, pear, apple, and
others. While vegetables commodities products are fresh tomatoes, fresh
cabbage, fresh cassavas, fresh cucumber, fresh shallots, potato, sweet potato,
fresh potatoes and others. Most of the product imported from USA, Europe,
Australia, New Zealand, Thailand, and China. In export the company also
exported of pineapple, mango and other products to overseas among others Asian
countries and Middle East. The whole fresh fruits and vegetables supplied to
various supermarket, distributors, restaurants, hotels, groceries and
traditional markets in Jakarta and surroundings. We observe that C.V. BAS is classified
a small sized company of its kinds with operation has been growing in the last
two years.
We note that generally the domestic demand for fresh fruits and
vegetables has been rising by about 8% - 10% per year in the last five years in
line with the growing population and increasing income of part of the
population in the country. The demand is projected to go on rising each year in
the next five years. Meanwhile, competition is quite heavy in the fruit trade
with many companies now doing business in this field in Indonesia. We consider
C.V. BAS to be in a quite favorable position for having already got hold of a
steady clientele in the country.
Until this time C.V. BAS has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of the company is very reclusive towards outsiders and rejected
to disclose its financial condition.
We observed that total sales turnover of the company in 2012 amounted to
Rp. 7.7 billion rose to Rp. 8.6 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. BAS is led by Mr. Giri Prakoso (49) a businessman
with experience in trading, export import, supply and distribution of fresh
fruits and vegetables. 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. We are convinced
that C.V. BUMI ARTA SELIMA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
|
<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.