|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
C.V. GLOBAL PRO |
|
|
|
|
Registered Office : |
Jalan Perintis Kemerdekaan No. 2, Pegangsaan Dua, Kelapa Gading, Jakarta Utara, 14240 |
|
|
|
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Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
2010 |
|
|
|
|
Legal Form : |
Partnership With Sleeping Partners |
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|
|
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Line of Business : |
Trading, Import and
Distribution of Heavy Equipment Spare Parts |
|
|
|
|
No of Employees : |
8 |
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 – 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 |
|
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 |
BASIC
SEARCH
|
Name
of Company :
C.V.
GLOBAL PRO
Address
:
Head Office
Jalan
Perintis Kemerdekaan No. 2
Pegangsaan
Dua, Kelapa Gading
Jakarta
Utara, 14240
Indonesia
Phones -
(62-21) 4586 6558, 4528 650
Fax - (62-21) 4523 809
E-mail - Kristine@inara.co.id
Building Area - 2 storey
Office Space - 220 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2010
Legal
Form :
C.V.
(Commanditaire Vennootschap) or Partnership with Sleeping Partners
Company
Reg. No. :
Not
Required
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
P.T.
INDOPARTA NUSANTARA (Trading and Distribution of Replacement Parts for Mining)
CAPITAL
AND OWNERSHIP
|
Capital
Structure :
Owned
Capital :
Rp. 400 million
Shareholders/Owners
:
a. Mr. Lucas Tetardy Tjondro Kitono
(Active Partner)
b. Mr. Halim Theodorus (Silent
Partner)
BUSINESS
ACTIVITIES
|
Lines of Business :
Trading, Import and
Distribution of Heavy Equipment Spare Parts
Production Capacity :
None
Total Investment :
None
Started Operation :
2010
Brand Name :
Global Pro
Technical Assistance
:
None
Number of Employee :
8 persons
Marketing Area :
Local - 100%
Main Customer :
Heavy equipment
rental services, general contracting
Market Situation :
Very Competitive
Main Competitors :
a. PD. GEMA LAUTAN
b. PD. GLOBAL TEKNIK
c. C.V. GRAHA CIPTA
LESTARI
d. UD. JAYA
DIESELINDO
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
|
B
a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Kelapa Gading Boulevard Raya Block L
No. 1
Jakarta Utara
Indonesia
b. P.T. Bank PERMATA Tbk
Jalan Boulevard Barat
Jakarta Utara
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL
FIGURE
|
Annual
Sales (estimated) :
2011
– Rp. 5.0 billion
2012
– Rp. 5.7 billion
2013
– Rp. 6.5 billion
2014
– Rp. 3.6 billion (January – June)
Net
Profit (estimated) :
2011
– Rp. 0.2 billion
2012
– Rp. 0.3 billion
2013
– Rp. 0.4 billion
2014
– Rp. 0.3 billion (January – June)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY
EXECUTIVES
|
Board of Management :
Director - Mr. Lucas Tetardy Tjondro Kitono, SE
Board of Commissioners :
Commissioner - Mr. Halim Theodorus
Signatories :
Director (Mr.
Lucas Tetardy Tjondro Kitono, SE) is only the authorized person to sign the
loan on behalf of the company.
CAPABILITIES
|
Management Capability :
Satisfactory
Business Morality :
Satisfactory
OVERALL
PERFORMANCE
|
Based on investigation the correct address of the Subject
is located at Jalan Perintis Kemerdekaan No. 2, Kelapa Gading, North Jakarta
with telephone number (62-21) 4586 6558, 4528650 fax (62-1) 4523809 not Jalan
Peta Barat No. 73, RT. 004 RW. 007, Kalideres, Tangerang, West Jakarta as
stated in your order ref. no. 290930 dated 17 October 2014. Based on
investigation the address is registered on Apotik K24 Peta Barat.
C.V. GLOBAL PRO (C.V. GP) was established in Jakarta in
2010’s with the status of Commanditaire Vennootschap (C.V.) or partnership with
sleeping partner. The founding and owners of the company are Mr. Lucas Tetardy
Tjondro Kitono as active partner and Mr. Halim Theodorus as silent partner.
Both of are an Indonesian businessmen of Chinese origin. Being as C.V.
(Commanditaire Vennootschap) company, the amount of its authorized capital was
not mentioned at the time of its establishment. In our estimate, the company
has own capital of about Rp. 400 million and it will be rising in line with the
progress of its business operation.
C.V. GP started to be operating since 2010 dealing with
trading, import, supply and distribution of heavy equipment components and
spare parts. The merchandise goods products are truck trailer parts, axle
parts, suspension, brake system, wheel parts, pump replacement parts, European
truck trailer parts and others. Mrs. Kristine, import staff of the company
explained the company import of component and spare parts from the USA,
Singapore, China, India, and Australia. The whole products supplied to various
trucking and land transportation services, heavy equipment rental services,
mining contracting, general construction and others in Jakarta, Sumatera,
Kalimantan and Sulawesi. We observe that C.V. GP is classified a small sized
company of its kinds in the country with operation has been growing with slowly
in the last three years.
Generally the demand for tucks and trailer parts, heavy
equipment parts and components has kept on rising in the last five years in
line with the growth and development of mining industries, logistic and
trucking industries, general contracting and construction industries as
customers. The demand is estimated to be higher by at least 5% to 7% per annum
in the next three years. The competition is very tight on account of many
similar companies operating in the country. The business position of C.V. GP is
good for it has established wide marketing networks in the country.
Until this time C.V. GP has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of the company is very reclusive towards
outsiders and rejected to disclose its financial condition. We estimated that
total sales turnover of the company in 2011 amounted to Rp. 5.0 billion rose to
Rp. 5.7 billion in 2012 increased to Rp. 6.5 billion in 2013. As from January
to June 2014 the sales turnover has reached at least Rp. 3.6 billion with a net
profit of at least Rp. 0.3 billion. It is projected the sales turnover will be
higher by at least 6% in 2015. So far, we did not heard 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. GP is led by Mr. Lucas Tetardy
Tjondro Kitono, SE (60) a businessman experience in trading, import, supply and
distribution of heavy equipment component and spare parts. The company'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 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. C.V. GLOBAL PRO is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.