|
Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
GGB ASIA PACIFIC |
|
|
|
|
Registered Office : |
Jalan
Ciniru 2 No. 8 Kebayoran Baru Jakarta Selatan, 12180 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Sole
Proprietary Company |
|
|
|
|
Line of Business : |
Subject
is engaged in general trading, export import, agriculture products |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
GGB
ASIA PACIFIC
Head Office
Correspondence
Office
Jalan
Ciniru 2 No. 8
Kebayoran
Baru
Jakarta
Selatan, 12180
Indonesia
Phone -
(62-21) 7396954
Fax - (62-21) 72798523
Building Area - 1 storey
Office Space - 80 sq. meters
Region - Commercial
Building
Status - Rent
According investigation
that the address is registered on Mrs. Ratna Soegiarto
Date of Incorporation :
2000’s
Legal
Form :
Sole
Proprietary Company
Company
Reg. No. :
Not
Required
Company
Status :
Private
National Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
None
Capital
Structure :
Unknown
Owner
:
Ms. Ratna Soegiarto
Lines
of Business :
General
Trading, Export Import, Agriculture Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
Unknown
Technical
Assistance :
None
Number
of Employee :
None
Marketing
Area :
Export - 100%
Main
Customer :
Unknown
Market
Situation :
Unknown
Main
Competitor :
None
Business
Trend :
No
comment
B
a n k e r :
Unknown
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual Sales
(estimated) :
Unknown
Net Profit (Loss) :
Unknown
Payment Manner :
Unknown
Financial Comments :
Weak
Board
of Management :
Director - Ms. Ratna Soegiarto
Board
of Commissioner :
None
Signatories :
Director (Ms. Ratna
Soegiarto) is only the authorized person to sign the loan on behalf of the
company
Management
Capability :
Weak
Business
Morality :
Prudent
Credit
Risk :
Very High
Credit
Recommendation :
Not qualified for credit assessment
Proposed Credit Limit :
Deposit
or Advance Payments
Based
to our investigation to the above address at Jalan Ciniru 2 No. 8, Kebayoran
Baru, South Jakarta with phone number (62-21) 7396954, but after we contacted
Ms. Ratna Soegiarto explained that GGB ASIA PACIFIC was not registered on the
above address. She also added that she did not know all regarding GGB ASIA
PACIFIC. According information from TELKOM Jakarta explained the address is
registered on Ms. Ratna Soegiarto.
Pursuant
to Alibaba Internet, GGB ASIA PACIFIC was incorporated in Jakarta in 2000 with
the status of Sole Proprietary Company and owned by Ms. Ratna Soegiarto, an
indigenous businessman. Being as Sole Proprietary Company, the amount of its authorized capital
was not mentioned at the time of its establishment.
Further
to the Internet that GGB ASIA PACIFIC is a private national Company engaged in
trading, and export of agricultural commodities products. The Company specializes
in coconut palm oil, all grades of natural latex, nutmeg, cocoa and cashew
nuts. The Company obtained all the agricultural commodities products from
Sumatra, Kalimantan and Sulawesi. The whole products exported to Eastern Asia,
Africa, Mid East, Oceania, Western Europe, Eastern Europe, North America, etc.
So,
we still doubt the activities of GGB ASIA PACIFIC
because of the telephone number and address is difficult to be reached,
although they explain and make their ads and promote activity in this company's
Alibaba Internet. We also doubt about the legality of this company because many
companies in Indonesia introduces its business in an internet though many are
not legal activities and some of the companies address not clearly. We are sure
GGB ASIA PACIFIC is a fictitious company.
From the whole
negative factors, we recommended to stop any new business relation to the
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.