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Report Date : |
13.10.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. WANGSA PUTRA PERKASA TECHNOLOGY |
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Registered Office : |
C/o Ruko Verona Gallery I/3, Kota Delta Mas, RT.016, RW.007, Sukamahi,
Cikarang, Bekasi 17000, West Java |
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Country : |
Indonesia
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Date of Incorporation : |
12.07.2008 |
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Com. Reg. No.: |
AHU-56787.AH.01.02.Tahun 2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importing and Distribution of
Automotive Parts and Components |
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No. of Employees : |
None |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Inactive |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Name of Company :
P.T. WANGSA PUTRA
PERKASA TECHNOLOGY
A d d r e s s :
Head
Office
c/o Ruko Verona Gallery I/3, Kota Delta Mas
RT.016, RW.007, Sukamahi, Cikarang
Bekasi 17000, West Java
Indonesia
Phone -
(62-21) 8911 8510
Fax - (62-21) 8911 8510
Building Area - 2 storey
Office Space - 1100 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
12 July 2008
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law
and Human Rights
No. AHU-56787.AH.01.02.Tahun 2008
Dated 29 August 2008
Company Status :
National Private Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. – not available
Related Company :
Not available
Capital Structure
:
Authorized Capital - Rp.
200,000,000.-
Issued Capital - Rp.
100,000,000.-
Paid up Capital - Rp.
100,000,000.-
Shareholders/Owners
:
a.
Mr. Budi Priyanto Wangsa -
Rp. 80,000,000.- (80%)
Address : Jl. Jawa No.
12, Cimone Mas Permai
Tangerang, Banten Province
Indonesia
b.
Mrs. Dewi Arliana Handayani Wangsa -
Rp. 20,000,000.- (20%)
Address : Jl. Asem
Tiga No.7, RT.004/RW.003
Jakarta Pusa
Indonesia
Lines of Business
:
Trading, Importing and Distribution of
Automotive Parts and Components
Production
Capacity :
None
Total Investment :
None
Started Operation
:
2008 but, the company has been inactive since June 2013
Technical
Assistance :
None
Number of Employee
:
None
Marketing Area :
No Comment
Market Situation :
Very Competitive
Business Trend :
No Comment
Bankers :
No Comment
Auditor :
No Comment
Litigation :
No litigation record in our database
Total Net
Sales/Revenue :
No Comment
Net Profit (Loss)
:
No Comment
Payment Manner :
No Comment
Financial Comments
:
No Comment
Board of Management :
Director - Mr. Budi Priyanto
Wangsa
Board of Commissioner :
Commissioner - Mrs. Dewi Arliana Handayani Wangsa
Signatories :
Director (Mr. Budi Priyanto Wangsa) which
must be approved by Board of Commissioner (Mrs. Dewi Arliana Handayani Wangsa)
Management Capability :
Weak
Business Morality :
Doubted
Credit Risk :
High
P.T. WANGSA PUTRA PERKASA TECHNOLOGY (P.T. WPPT)
was established in Bekasi (West Java) based on Notarial Deed of Notary Evi
Nursamsiyati, SH., No. 08 dated July 12, 2008 with an authorized capital of Rp.
200,000,000.- of which Rp. 100,000,000.-
was issued and fully paid up. The founding shareholders of the company
are Mr. Budi Priyanto Wangsa (80%) and his wife Mrs. Dewi Arliana Handayani
Wangsa (205), both are indigenous business persons. The Deed of establishment was approved by the
Minister of Law and Human Rights through Decision Letter No. AHU-56787.AH.01.01.Tahun
2008 dated August 29, 2008. Since then,
no changes have been effected in term of its shareholding composition and
capital structures to date.
Pursuant to the company’s notary deed, P.T.
WPPT engaged to operate in general trading, development, industry, road
transportation, printing and services.
The Company’s registered office located at Ruko Verona Gallery I/3, Kota
Delata Mas, RT.016/RW.007, Sukamahi, Cikarang, Bekasi, West Java and then moved
to Ruko Notredame Block E-27, Kota Deltamas, Cikarang, Bekasi, West Java.
According to the results of our investigation we noticed that previously P.T. WPPT was engaged in trading, import-export and general
trading of industrial machinery. However since 2012
the company’s activity has been shifted to engages in trading, import and
distribution of automotive parts and components. Ms. Yenny, the former a marketing staff of P.T. WPPT, when reached by phone said that P.T. WPPT has not been in operation since mid-2013 (lockout) and all of its employees have also been dismissed. She also did not know why the company was shutdown. However it is likely that operations did not go smoothly and continuously suffered losses. According to Ms. Yenny, that building office hired by P.T. WPPT has been occupied by another company.
Furthermore we have checked to the Ministry of Law and Human Rights (MLHR) to ensure that whether the P.T. WPPT has been liquidated. But our source at MLHR said that until now there is no notice from the shareholders of P.T. WPPT concerning the shutdown of the company. According to our source in MLHR, that in Indonesia there are many companies that not actively operate or shut down, but never reported their case to MLHR. This is generally done by these companies, to avoid payment of taxes and duties.
We have a strong
suspicion that P.T. WPPT has been abandoned by
its shareholders. Company's financial strength was only Rp. 100 million
which was paid capital as contained in its notary deed. But we strongly suspect that the capital had been spent and the
currently P.T. WPPT does not have any assets.
According
to notary deed, P.T. WPPT was chaired by Mr. Budi Priyanto Wangsa (23) as irector and
assisted by his wife Mrs. Dewi Arliana Handayani Wangsa (29) as
commissioner. We suspect that their reputation in trading and distributor of
automotive parts and components is also not prominent. In addition they were also not who bona fide
or credible businessman/woman. We
strongly suspect that the management company has been dissolved, but was not
reported to the Department of Law and Human Rights.
We therefore recommend to be very careful when doing business partnership with this company. We recommend to cancel the business transaction plan that was prepared for this 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
: |
SUB |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.