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Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
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Name : |
PD. SHANKAR PM |
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Registered Office : |
Pusat
Grosir Tekstil Mangga Dua Block E 4 No. 20, Jalan Arteri Mangga Dua, |
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Country : |
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Year of Establishments : |
1995 |
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Legal Form : |
Sole
Proprietary Concern |
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Line of Business : |
Engaged in trading,
import and distribution of various Textile
Products for Woman, Lady’s and man’s
with various types among others are Machine Embroidery Fabrics, Embroider
Fabrics, Special Jacquard Fabrics, Gicha Jacquard Fabric, Damask Jacquard
Fabric, Plain Dyed Fabric, Shirting Fabric, Organic Pigment Cotton Fabric,
Silk Cotton Fabric, Polyester Cotton Fabric, Cotton Poly Blend Shirting
Fabric, Cotton Yarn Poly Fabric, Poly Cotton Fabric, Linen Fabric & Fine
Plain Dyed Fabric |
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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 |
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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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 |
PD. SHANKAR PM
Head Office
Pusat
Grosir Tekstil Mangga Dua Block E 4 No. 20
Jalan
Arteri Mangga Dua
Jakarta
Utara, 14430
Indonesia
Phones -
(62-21) 6011786, 6120341, 6009932
Fax - (62-21) 6009930
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
1995’s
Sole
Proprietary Concern
Not
Required
Private
National Concern
The Department of
Finance
Not
Available
None
Capital
Structure :
Owned
Capital :
Rp. 1.0 billion
Owners
:
Mr. Shankar Mulani
Lines of Business :
Engaged in trading,
import and distribution of various Textile
Products for Woman, Lady’s and man’s
with various types among others are Machine Embroidery Fabrics, Embroider Fabrics,
Special Jacquard Fabrics, Gicha Jacquard Fabric, Damask Jacquard Fabric, Plain
Dyed Fabric, Shirting Fabric, Organic Pigment Cotton Fabric, Silk Cotton
Fabric, Polyester Cotton Fabric, Cotton Poly Blend Shirting Fabric, Cotton Yarn
Poly Fabric, Poly Cotton Fabric, Linen Fabric & Fine Plain Dyed Fabric
Production Capacity :
None
Total Investment :
None
Started Operation :
1995’s
Brand Name :
Shankar PM
Technical Assistance
:
None
Number of Employee :
18 persons
Marketing Area :
Local - 100%
Main Customer :
Trader and Retail
Shop, Individual and Tailor
Market Situation :
Very Competitive
Main Competitors :
a. CV. ADE BUSANA
COLLECTION
b. DULLAH TEXTILE
c. DULLAH TEXTILE
d. EVERY DECORATION,
Etc
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Mangga Dua Plaza
Block 12 A
Jalan Raya
Mangga Dua
Jakarta Utara
Indonesia
b. P.T. Bank
MANDIRI Tbk
Arkade Dusit
Mangga Dua Bo. 5
Jalan Arteri Mangga
Dua
Jakarta Utara
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2011
– Rp. 14.5 billion
2012
– Rp. 15.4 billion
2013
– Rp. 16.2 billion
2014
– Rp. 8.8 billion (January – June)
Net
Profit (estimated) :
2011
– Rp. 1.5 billion
2012
– Rp. 1.6 billion
2013
– Rp. 1.7 billion
2014
– Rp. 0.9 billion (January – June)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Shankar Mulani
Board of Commissioners :
None
Signatories :
Director
(Mr. Shankar Mulani) is only the authorized person to sign the loan on behalf
of the concern.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Based on investigation results the correct of the Subject is PD. SHANKAR PM not SPD. SHANKAR PM as stated in your order ref. no. 294440 dated 22 November 2014.
PD. SHANKAR PM is a sole proprietary concern which established in Jakarta in 1995’s by Mr. Shankar Mulani an Indonesia businesswoman of Indian descent. The concern’s authorized capital is not announced in it’s of establishment. In general, the concern with status of sole proprietary concern shall increase its capital continuously together with its business development. We estimated that MR TEXTILE (AL MAYA) has capital about Rp. 1.0 billion.
PD. SHANKAR PM started to be operating since 1995’s to deal with trading, import and distribution of textile products. According information the concern sells of various textile products for woman, lady’s and man’s with various types among others are machine embroidery fabrics, embroider fabrics, special jacquard fabrics, gicha jacquard fabric, damask jacquard fabric, plain dyed fabric, shirting fabric, organic pigment cotton fabric, silk cotton fabric, polyester cotton fabric, cotton poly blend shirting fabric, cotton yarn poly fabric, poly cotton fabric, linen fabric & fine plain dyed fabric. The whole products imports through MAHATEX EXPORTS of India. Mr. Shankar Mulani, Director and owner of the concern went on to say some of the textile products mostly import from India and the rest for locals. The whole products sold through trader and textile shop, tailor made, and others in Jakarta and surroundings. We observe that PD. SHANKAR PM is a small size concern of its kinds which its operation has been growing and developing well in the last three years.
The textile and textile product (TTP) industry is one of the industries that has contrived to with stand the protracted global economic crisis. At a time when the average national industrial utilization rate fell to under 20% in 2008, TTP plants on the other hand were operating at an utilization rate of above 81.6%. This was attributable to the ability of textile and garment producers to maintain the utilization rate of plants at a high level by aggressively stepping up exports.
According to the Central Bureau of Statistics (BPS) the
Indonesian garments export in 2002 amounted to 333,100 tons (US$ 3,887.2
million) to 339,000 tons (US$ 4,037.9 million) in 2003 to 327,300 tons (US$
4,351.9 million) in 2004 to 369,500 tons (US$ 4,967.0 million) in 2005 to
399,600 tons (US$ 5,608.1 million) in 2006, to 399,800 tons (US$ 5,712.9 million)
in 2007 rose to 417,600 tons (US$ 6,092.2 million) in 2008 declined to 393,400
tons (US$ 5,735.6 million) in 2009 and 445,200 tons (US$ 6,598.0 million) in
2010 rose to 450,900 ton (US$ 7,801.5 million) in 2011 decline to 450,200 tons
(US$ (7,304.8 million) in 2012 and increased to 470,200 tons (7,501.0 million)
in 2013.
The Indonesia textile products export in 2002 amounted to
1,425.9 tons (US$ 3,075.9 million) to 1,307.5 tons (US$ 3,064.6 million) in
2003 to 1,300.4 tons (US$ 3,354.6 million) in 2004 to 1,427.3 tons (US$ 3,704.0
million) in 2005 to 1,477.8 tons (US$ 3,908.6 million) in 2006 to 1,473.6 tons
(US$ 4,178.0 million) in 2007 decrease to 1,312.2 tons (US$ 4,127.9 million) in
2008 rose to 1,369.6 tons (US$ 3,602.8 million) in 2009 and to 1,525.9 tons
(US$ 4,721.8 million) in 2010 decreased to 1,493.3 tons (US$ 5,563.3 million)
in 2011 increase to 1,508.5 tons (US$ 5,278.1 million) in 2012 increased to
1,633.1 tons (US$ 5,293.6 million) in 2013. The domestic textile producers are
pessimism the textile export in 2009 could match the export numbers in 2008.
The blow of the global economic crisis is resulted in the reduced of demand
from the export destination countries like the United States (U.S.), Japan, and
European Union region. While this year’s the exports expected fall into US$ 9.7
billion. The Chairman of the Indonesian Textile Association (API), Mr. Benny
Soetrisno said that the decline in global purchasing power caused of the demand
in the Indonesian textile products could not be able to grow as tight as 2008.
The export volume and value of the national TPT products in 2002 to 2013 are
pictured on the following table.
|
Year |
Garment |
Textile Products |
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|
(Thousand Ton) |
(US$ Million) |
(Thousand Ton) |
(US$ Million) |
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|
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 |
333.1 339.9 327.3 369.5 399.6 399.8 417.6 393.4 445.2 450.9 450.2 470.2 |
3,887.2 4,037.9 4,351.9 4,967.0 5,608.1 5,712.9 6,092.2 5,735.6 6,598.0 7,801.5 7,304.8 7,501.0 |
1,425.9 1,307.5 1,300.4 1,427.3 1,477.8 1,473.6 1,312.2 1,369.6 1,525.9 1,493.3 1,508.5 1,633.1 |
3,075.9 3,064.6 3,354.6 3,704.0 3,908.6 4,178.0 4,127.9 3,602.8 4,721.8 5,563.3 5,278.1 5,293.6 |
Source: Central
Bureau of Statistic
Until this time PD. SHANKAR PM has not been
registered with Indonesian Stock Exchange, so that they had not obliged to
announce their financial statement. The management of
the concern is very reclusive towards outsiders and rejected to disclose its
financial condition. We observed that total sales turnover of the
concern in 2011 amounted to Rp. 14.5 billion rose to Rp. 15.4 billion in 2012
increased to Rp. 16.2 billion in 2013. As from January to June 2014 the sales
turnover has reached at least Rp. 8.8 billion with a net profit of at least Rp.
0.9 billion. It is projected the sales will be higher by at least 4% in 2015.
So far, we did not heard that the concern having been black listed by the
Central Bank (Bank Indonesia). The concern usually pays its debts punctually to
suppliers.
The management of PD. SHANKAR PM is led by Mr. Shankar
Mulani (54) a businessman with experience in trading, import and distribution
of textile products. The concern'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 concern being filed to the district court for detrimental cases or
involved in any business malpractices. The concern’s litigation record is clean and
it has not registered with the black list of Bank of Indonesia. We are sure PD.
SHANKAR PM is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
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UK Pound |
1 |
Rs.97.69 |
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Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
|
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 |
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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 |
-- |
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.