|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
C.V. SEKAWAN |
|
|
|
|
Registered Office : |
Jl. Orde Baru No. 4, (Jl. Raya Binjai Km.
12.5), Medan, North Sumatra |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Year of Establishment : |
1987 |
|
|
|
|
Legal Form : |
Partnership with Sleeping Partner |
|
|
|
|
Line of Business : |
Export Import of
Agricultural Products. |
|
|
|
|
No. of Employees : |
50 Persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 – 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 |
C.V.
SEKAWAN
Head Office & Warehousing
Jl. Orde Baru No. 4
(Jl. Raya Binjai Km. 12.5)
Medan
North Sumatra
Indonesia
Phones -
(62-61) 8451189, 8467526
Fax
- (62-61) 8467252
Email -
heriadylian@cvsekawan.com
Website -
http://www.cvsekawan.com
Land Area - 2,000 sq. meters
Office Space - 1,600 sq. meters
Region -
Industrial Zone
Status -
Rent
1987
C.V. (Commanditaire Vennootschaap) or
partnership with sleeping partner
Not Required
National Private Company
Not Available
C.V. AGRO MAS (Trading and Exporter of
Agricultural Products)
Capital
Structure :
Owned Capital : Rp. 2.5 billion
Owners
:
a.
Mr. Heriady Lian (Active Partner)
b. Miss Dewi Lian (Silent Partner)
Lines
of Business :
Export Import of
Agricultural Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1987
Brand
Name :
None
Technical
Assistance :
None
Number
of Employee :
50 persons
Marketing
Area :
a. Export
- 98%
b. Local
- 2%
Main
Customer :
Buyers in Malaysia, Singapore, India, Pakistan,
Nepal, Philippine, China and local distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. C.V. PRIMATAMA
b. P.T. MULTIMULIA LANGGENG
c. C.V. ARSAM PRATAMA
d. P.T. USTRANESIA
e. C.V. MUKTI JABAR
Business
Trend :
Growing
Bankers
:
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Jend. Sudirman No. 33
Medan, North Sumatera
Indonesia
b. P.T. Bank LIPPO Tbk
Jalan Pemuda
Medan, North Sumatera
Indonesia
Auditor
:
Internal Auditor
Litigation
:
No litigation record in our database
Annual
Sales (estimated) :
2011 – Rp. 12.0 billion
2012 – Rp. 13.0 billion
2013 – Rp. 14.0 billion
Net
Profit (estimated) :
2011 – Rp. 1.0 billion
2012 – Rp. 1.2 billion
2013 – Rp. 1.3 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Heriady Lian
Board of Commissioners :
Commissioner - Ms. Dewi Lian
Signatories :
Director
(Mr. Heriady Lian) is only the authorized person to sign the loan on behalf of
the company
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit
should be proceeded with monitor
C.V. SEKAWAN was established in 1987 in Medan, North Sumatera, with the
legal status of Commanditaire Vennootschaaf (C.V) or partnership with sleeping
partner. Founders and owners of the company are Mr. Heriady Lian as active
partner and his daughter Miss Dewi Lian as silent partner. Both are of
Indonesian business family of Chinese origins.
Being as a C.V. company, the amount of its authorized capital was not
mentioned at the time of its establishment. We estimate, C.V. SEKAWAN has own capital of about Rp. 2.5
billion and it will be rising in line with the progress of its business
operation. We observe Mr. Heriady Lian is also founder and majority business
stakes owners of C.V. AGRO MAS dealing with trading and exporter of
agricultural products.
C.V. SEKAWAN started with operation since 1987 in the field of export
import of agricultural products such as fruits, groundnuts, vegetable, brown
beans, mung beans, tobacco products, betel nuts, spices and seasoning, tea,
coffee bean, garlic and others. Mr. Heriady Lian, the director and owner of the
company explained that the whole products such as groundnuts imported from
India, garlic from China and others from others countries. He explained that
mung beans, ginger, betel nuts, spices, tea, coffee beans, tobacco, cloves,
desiccated coconut, cassia vera, long pepper, dammar batu, gum, cocoa beans and
other products is collected from mainland of Indonesia such as from North
Sumatera, Nangroe Aceh Darusalam and other cities of Sumatera. The whole
products are exported to Malaysia, Singapore, India, Pakistan China, and Nepal.
The whole products also supplied through traditional market in North Sumatera
such as Medan, Tebing Tinggi, Pematang Siantar. We observe that operation of
C.V. SEKAWAN has been growing in the last three years.
We have noticed that the demand for agricultural products such as nutmeg
and nutmeg oil had increased some 8% to 10% 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 5% to 6% 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. SEKAWAN to be in a quite favorable position for
having already got hold of a steady clientele in the Medan. and surroundings.
Until this time C.V. SEKAWAN has not been registered with Indonesian
Stock Exchange, so that they had not obliged to announce their financial
statement. Mr. Heriady Lian explained that sales turnover of the company in
2011 amounted to Rp. 12.0 billion increased to Rp. 13.0 billion in 2012 and
rose again to Rp. 14.0 billion in 2013 and projected to go on rising by at
least 4% in 2014. It is estimated the company’s operation has gained a net
profit of R[/ 1.3 billion. So far, we did not hear 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. SEKAWAN is headed by Mr. Heriady Lian (55), a
professional manager and businessman with has experienced for more than 25
years in the field of export import of agricultural products. The management of
the company is handled by experienced professional manager having wide relation
with private businessmen of home and overseas as well as with the government
sectors. 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. In view of Indonesian
political situation is not stable we recommend to treat prudently in extending
a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.59 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
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.