|
Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. LOTUSINDO |
|
|
|
|
Registered Office : |
Jalan By Pass
Ngurah Rai, Lingkungan Perarudan, Kelurahan Jimbaran, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1991 |
|
|
|
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Com. Reg. No.: |
No. AHU-AH.01.10-29146 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Tour and Travel
Services |
|
|
|
|
No. of Employees : |
30 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Indonesia |
B1 |
A2 |
|
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 |
Name of
Company :
P.T.
LOTUSINDO
A d d r e s s
:
Head Office
Jalan By Pass
Ngurah Rai
Lingkungan
Perarudan, Kelurahan Jimbaran
Bali, 80361
Indonesia
Phones -
(62-361) 701001, 7442092
Fax - (62-361) 701002-3
E-mail - bali@lotusasiatours.com
Website - http://www.lotusasiatours.com
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
1991
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. AHU-59810.AH.01.02.TH.2009
Dated 8 December 2009
- No. AHU-AH.01.10-29146
Dated 14 September 2011
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.413.235.1-905.000
Related
Company :
P.T. TRADEINDO
(Investment Holding)
Capital
Structure :
Authorized Capital
: Rp.
50,000,000.-
Issued Capital : Rp.
25,000,000.-
Paid up Capital : Rp.
25,000,000.-
Shareholders/Owners
:
a. P.T. TRADEINDO -
Rp. 24,750,000.-
Address : Jl. Kesumasari No. 5
Sanur, Denpasar Selatan
Bali
Indonesia
b. Mr.
Rudolfo Giusti De Marle -
Rp. 250,000.-
Address : Jl. Kesumasari No. 5
Sanur, Denpasar Selatan
Bali
Indonesia
Lines of
Business :
Tour and Travel
Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1991
Brand Name :
Lotus Asia Tour
Technical
Assistance :
None
Number of
Employee :
30 persons
Marketing Area
:
Local - 100%
Main Customer
:
Individuals and
Corporate
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. MAHKOTA
TOURS
b. P.T. MANUMADI WISATA
c. P.T. MATAHARI KORIN
d. P.T. MEDIA
TOURS
e. Etc
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan By Pass
Ngurah Rai
Bali Province
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 5.3
billion
2012 – Rp. 6.2 billion
2013 – Rp. 7.0
billion
Net Profit
(estimated) :
2011 – Rp. 0.5
billion
2012 – Rp. 0.6
billion
2013 – Rp. 0.7
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Iskandar Francisco Giusti De Marle
Director - Mr.
Rodolfo Giusti De Marle
General Manager -
Mr. Giliano Ponari
Board of Commissioners :
Commissioner -
Mrs. Desyanti Latifah
Signatories :
President Director (Mr. Iskandar
Francisco Giusti De Marle) or the Director (Mr. Rodolfo Giusti De Marle) which
must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. LOTUSINDO
or trading style Lotus Asia Tours is a private national company which established
in 1991 by P.T. TRADEINDO and Mr. Rodolfo Giusti De Marle. According to the
latest revision of notary documents of Mr. I Made Puryatma, SH., No. 35 dated
28 July 2011 the company authorized capital was amounted at Rp. 50,000,000
issued capital of Rp. 25,000,000 fully and paid up. According to the latest
revision of notary documents the composition of its shareholders are P.T.
TRADEINDO (99%) and Mr. Rodolfo Giusti De Marle (1%). The latest revision of
notary documents was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-AH.01.10-29146 dated September 14, 2011.
P.T. LOTUSINDO
or Lotus Asia Tours is a small size company dealing with tour and travel agency
services. The company has been operating since 1991 by provide services such as
tour/package tours, accommodation, tours/ transfer. P.T. LOTUSINDO or Lotus
Asia Tours is tour operators that owns and operates five destination management
companies in Southeast Asia such as Singapore, Malaysia, Myanmar and Indonesia.
Since its incorporation in 1991 in beautiful Bali-Indonesia, Lotus Asia Tours
has grown rapidly to become one of the key operators in the region's travel
industry. They acquire new clients continuously due to our ongoing marketing
efforts and their reputation for excellent personal service. Lotus Asia Tours
currently represent over 100 major Tour and Travel
Operators worldwide. Due to the demand, they have opened branch offices in
Lombok, Kuala Lumpur, Singapore and Yangon, Myanmar. Lotus Asia Tours also cover
In
its operation, Lotus Asia Tours is now one of the major players in the industry
with a volume of over 15.000 pax, divided approximately in 70% FIT and 30% GIT
and Incentives. Lotus Asia Tours represents over 100 Tour Operators worldwide,
mostly from Europe, and
acquires new clients on a regular basis thanks to its consistent marketing
efforts and its reputation of excellence. The Agency covers all of Indonesia
from its Bali headquarters (except for Lombok were we have a separate office)
with the assistance of selected representatives in various parts of the
archipelago, which have been trained to Lotus Asia Tours' high standards of
service.
Lotus Asia Tours
covers Sulawesi from its Bali headquarters with the assistance of selected
representatives in various parts of Sulawesi, which have been trained to Lotus
Asia Tours' high standards of service. Lush rainforests, white sandy beaches,
indigenous traditions, an unique animal world, magnificent shipbuilding,
Sulawesi has it all and now it is your turn to explore this world of a rich
mixture of nature and culture. Most tourists only go to Tana Toraja, which is
known for its ancient traditions, and its unique culture that rivals that of
the Balinese. But there is so much more to be seen such as the traditional
shipbuilding in Bira, the coral reefs of Bunaken island, the Dumoga Bone
National Park with its rare and specific animal species, and much more. We
observe the operation of P.T. LOTUSINDO or Lotus Asia Tours has been growing
and developing well in the last three years.
Generally
outlook, the leading business of the company is in tour & travel services,
hotel reservation, etc. The demand for tour and travel services as well as
hotel rooms has been fluctuating in line with the foreign tourist influx to
Indonesia within the last five years. Besides, the Indonesian economy has
weathered the storm and is currently accelerating. As for the global economy,
it is also in a recovery phase and this recovery is expected to continue in
2010. Overall, the prospects for the Indonesian economy in 2010 are brighter
than in 2009. The global economic recession has exerted significant downward pressures
on the Indonesia economy. In the first quarter of 2009 the economy grew by 4.4
percent, or significantly lower than in the fourth quarter of 2008 when the
economy grew by 5.2 percent and lower than in the third quarter of 2008 when
the economy grew by 6.4 percent.
Eventually, the
impact of the fiscal and monetary stimuli on the economy could be seen. This
was reflected in the brisker pace of growth in Indonesia despite the global
economic recession. In the second quarter of 2009 the Indonesian economy grew
by 4.0 percent, and in the third quarter of the year it grew by 4.2 percent.
The economic is expected to accelerate further in the fourth quarter of 2009.
Ant for the whole of 2009 the Indonesian economy is expected tot grow by 4.7
percent and 6.0 percent in 2010.
In the third
quarter of 2011 Indonesia’s economy grew at 6.5%, and in the fourth quarter of
the year the figure is expected to stay at the same level. Thus, in 2011 the
country’s economy grew at 6.5%, higher than 6.1% in 2010. The good news is that
the manufacturing sector showed better growth. The foreign tourists arriving
and staying in 2008 reached 6,234,497 people rose to 6,323,730 people in 2009.
This total increased by 89,233 people of 14.31% if compared with that in 2007
reaching 5,505,759 people. Domestic tourists visiting and staying in star
hotels in 2008 were registered 14,847.9 thousand people. If compared with the
condition in 2007 of 13,113.2 thousand people, there was an increase of 1,734.7
thousand people or 13.23%.
The Total Growth of Foreign Tourists Visiting Indonesia
Based on Port Entrance in 2005-2013
|
Year |
Number of Foreign Tourist |
|
2005 |
5,002,101 |
|
2006 |
4,871,351 |
|
2007 |
5,505,759 |
|
2008 |
6,234,497 |
|
2009 |
6,323,730 |
|
2010 |
7,002,944 |
|
2011 |
7,649,731 |
|
2012 |
8,44,462 |
|
2013 |
8,802,129 |
Source: Central Bureau of Statistic
Until this time
P.T. LOTUSINDO 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. 5.3 billion rose to Rp. 6.2 billion in
2012 increased to Rp. 7.0 billion in 2013 and projected to go on rising by at
least 6% in 2014. The operation in 2013 yielded an estimated net profit of at
least Rp. 0.7 billion and the company has an estimated total networth of at
least Rp. 1.2 billion. 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
P.T. LOTUSINDO is led by Mr. Iskandar Francisco Giusti De Marle (33) a
professional manager with experience in tours and travel services. Daily
activity he is assisted by his father Mr. Rodolfo Giusti De Marle (71) as
Director. 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. P.T. LOTUSINDO or Lotus Asia Tours is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
|
|
1 |
Rs.97.51 |
|
Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
PDT |
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.