|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. GLOBAL VISION IMPEX |
|
|
|
|
Registered Office : |
Jalan Raya Bekasi Km. 20, Kelurahan Pengangsaan Dua,
Pulogadung Jakarta Utara 14250 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
19.09.1999 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-AH.01.10-36346 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading and Exporter of
Agricultural Products. |
|
|
|
|
No. of Employees : |
117 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 |
P.T. GLOBAL VISION IMPEX
Head Office & Warehouse
Jalan Raya Bekasi
Km. 20
Kelurahan
Pengangsaan Dua, Pulogadung
Jakarta Utara
14250
Indonesia
Phone -
(62-21) 4614080 (Hunting)
Fax - (62-21) 4602884
E-mail - info@gvi.co.id
Website - http://www.ptgvi.co.id
Land Area - 2,200 sq.
meters
Factory Space - 1,000 sq. meters
Region - Industrial
Zone
Status - Rent
19 September 1998
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of Law and
Human Rights
- No. C-23827.HT.01.04.TH.2005
Dated 26 August 2005
- No. AHU-55219.AH.01.02.TH.2008
Dated 25 August 2008
- No. AHU-AH.01.10-36346
Dated 2 September 2013
Foreign Investment (PMA) Company
The Department of Finance
NPWP No. 01.869.802.7-059.000
The Capital Investment
Coordinating Board
- No. 547/I/PMA/1998
Dated 14 September 1998
- No. 1662/III/PMA/1998
Dated 23 September 1998
- No. 1749/III/PMA/2000
Dated 27 November 2000
- No. 29/II/PMA/2005
Dated 28 January 2005
None
Capital
Structure :
Authorized Capital :
US$ 1,100,000.-
Issued Capital :
US$ 750,000.-
Paid up Capital :
US$ 750,000.-
Shareholders/Owners
:
a. PUSHKAR PTE. LTD. -
US$ 749,000.-
Address : 10 Jl. Besar 10-12
Sim Lim Tower
Singapore
b. TALFORD HOLDINGS LIMITED - US$
1,000.-
Address : PO. Box. 71
Craigmuir
Chambers, Road Town
Tortola, British Virgin
Island
Lines of
Business :
Trading and Exporter of Agricultural Products
Production
Capacity :
Export of Agricultural Products -
US$ 14.0 million
Total
Investment :
a. Equity Capital - US$ 750,000.-
b. Loan Capital - US$ 200,000.-
c. Total Investment - US$ 950,000.-
Started
Operation :
1999
Brand Name :
None
Technical
Assistance :
None
Number of
Employee :
117 persons
Marketing Area
:
Export -
100%
Main Customer
:
Buyer in Nepal, Pakistan, India, Bangladesh, Sri Lanka, etc
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ASIA AGROMAS ABADI
b. P.T. ALAM INDORAMA
c. C.V. BUMI DJAJA
d. C.V. JAYA BERSAMA
e. C.V. PUTRA NUSA
Business Trend
:
Growing
Bankers :
a. P.T. Bank of INDIA INDONESIA Tbk
Jalan Haji Samanhudi No. 37
Jakarta Pusat
b. P.T. Bank CIMB NIAGA Tbk
Kelapa Gading,
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our
database
Annual Sales (estimated) :
2011 – Rp. 91.0 billion
2012 – Rp. 93.0 billion
2013 – Rp. 95.0 billion
Net Profit (estimated) :
2011 – Rp. 7.7 billion
2012 – Rp. 8.1 billion
2013 – Rp. 8.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President
Director - Mr. Sidharth Tekriwal
Directors - a.
Mr. Sandeep Tekriwal
b. Mr. Sanjay Kumar Agrawal
Board of Commissioners :
Commissioner - Mr. Sunil
Takriwal
Signatories :
President Director (Mr. Sidharth
Tekriwal) or one of the Directors (Mr. Sandeep Tekriwal or Mr. Sanjay Kumar
Agrawal) which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. GLOBAL VISION IMPEX (P.T.
GVI) is a joint venture enterprise established in Jakarta on 19 September 1998
with an authorized capital of US$ 150,000.- issued capital of US$ 100,000
entirely paid up. The founding shareholders of the company originally are Mr. Sidharth
Tekriwal and his wife Mrs. Neeti Tekriwal, both are of
P.T. GVI operates under the
framework of Foreign Investment (PMA) facilities in trading and export of
agricultural products. P.T. GVI has been operation since 1997 and exporter of
spices and agro commodities like betel nut or areca nut, mace, nutmeg and other
agro commodities. The agro agricultural or spices such as Black Pepper, Betel
Nuts, Cardamom, Cassia, Clove, Cubeb, Gambier, Long Pepper, Mace, Nutmeg, White
Pepper, etc., & natural gums and resins such as Damar Batu, Gum Benzamin,
Gum Damar, Gum Copal, etc. The agricultural product bought from farmer in Java,
North Sumatera, West Sumatera, Jambi, South Sumatera, Lampung, Java, Sulawesi,
and others island of Indonesia. Areca nut or betel nut is aromatic and as
astringent and is said to intoxicate when first taken. Besides, the product is
also used for medicine and cosmetic. The type and specific of areca nut has
divided into three type such as Super Malaysia with price US$ 950 per tons,
Super Indonesia with the price of US$ 850 per tons and Super Baru with the
price of US$ 600 to US$ 700 per tons. The whole products are mainly exported to
the Asian sub continent such as India, Pakistan, Singapore, Nepal, etc., the
middle eastern countries of Dubai, Oman, Syria, Jordan and many north African
countries such as Egypt, Tunisia, Algeria, Morocco, Libya etc.
We observed that the company’s
operation 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
Until this time P.T. GVI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement. The management of P.T. GVI is very reclusive towards
outsiders and rejected to disclose its financial condition. We observed
that total sales turnover of the company in 2011 amounted to Rp. 91.0 billion
rose to Rp. 93.0 billion in 2012 increased to Rp. 95.0 billion in 2013 and
projected to go on rising by at least 4% in 2014.
The operation in 2013 yielded an estimated net profit of at least Rp.
8.5 billion and the company has an estimated total networth of at least Rp.
15.0 billion. We observe that P.T. GVI is supported by foreign partner with has
financially strong and sound behind it. So far, we did not heard that the
company having been black listed by the Central Bank (Bank
The management of P.T. GVI is led by Mr. Sidharth Tekriwal (40), a
professional manager of India with 14 years of experience in trading and
exporter of spices and agro commodities. The management of the company is
handled by professional managers having wide relation with private businessmen
within and outside the country and with the government sectors as well. We
observed that management’s reputation in said business is fairly good. 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. GLOBAL VISION
IMPEX is sufficiently fairly good for business transaction.
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
: |
RAS |
|
|
|
|
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.