MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. Wahana Baru Sejahtera |
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Registered Office : |
Jalan Cempolorejo
II No. 22, |
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Country : |
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Year of Establishment : |
1987 |
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Com. Reg. No.: |
AHU-36623.AH.01.02.TH.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution
of Agricultural Commodities Products. |
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No of Employees : |
17 Persons |
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 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Indonesia |
B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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. WAHANA BARU SEJAHTERA
Address
Head Office
Jalan Cempolorejo
II No. 22
Semarang 50141
Central Java
Indonesia
Phone -
(62-24) 8664562
Fax - (62-24) 8660737
Building Area - 1 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
a. 13 September
1986 as P.T. WAHANA BARU
b. 4 November 2000 as P.T. WAHANA BARU SEJAHTERA
Legal Form
P.T. (Perseroan Terbatas)
or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No.
AHU-36623.AH.01.02.TH.2009
Dated 31 July
2009
Company Status
National Private
Company
Permit by the Government Department
The Department of Finance
NPWP No.
1.429.103.3-503.000
The Department of Industry and Trade
TDP No.
11.01.1.54.01095
Dated 22 November
2005
Related Company
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
100,000,000.-
Issued Capital : Rp. 25,000,000.-
Paid up Capital : Rp. 25,000,000.-
Shareholders/Owners
:
a. Mr. Christine Setiawati - Rp. 15,000,000.-
Address :
Jl. Jend. Sudirman 161 A
Semarang,
Central Java
Indonesia
b. Mr. Chandra Setiawan - Rp. 10,000,000.-
Address : Jl. Jend. Sudirman 161 A
Semarang, Central Java
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading, Import and Distribution of
Agricultural Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1987
Brand Name :
Wahana Baru Sejahtera
Technical Assistance :
None
Number of Employee :
17 persons
Marketing Area :
Local - 100%
Main Customer :
Traditional market
Market Situation :
Very Competitive
Main
Competitors :
a. P.T. ALU
AKSARA PRATAMA
b. P.T. ALAM
MAKMUR SAMBADA
c. P.T. DELTA
ASIA PANGAN SEJAHTERA
d. P.T. SEMARAK
SEMPURNA LESTARI
e. Etc.
Business
Trend:
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank
CENTRAL ASIA Tbk
Jalan
Jend. A. Yani No. 22
Semarang,
Central Java
Indonesia
b. P.T. Bank
PERMATA Tbk
Jalan Jend.
A. Yani No. 30
Semarang,
Central Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2011 – Rp. 8.2 billion
2012 – Rp. 9.0 billion
2013 – Rp. 10.2
billion
Net Profit
(estimated) :
2011 – Rp. 410
million
2012 – Rp. 450
million
2013 – Rp. 510
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Chandra Setiawan
Board of Commissioners :
Commissioner -
Mrs. Christine Setiawati
Signatories :
Director (Mr. Chandra
Setiawan) which must be approved by Board of Commissioner
CAPABILITIES
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
OVERALL PERFORMANCE
Initially the company named P.T. WAHANA BARU was established in
Semarang, Central Java in September 1986 with an authorized capital of Rp.
100,000,000 issued capital of Rp. 20,000,000 entirely paid up. The founding
shareholders of the company are Mr. Chandra Setiawan and his wife Mrs.
Christine Setiawati, both are Indonesian business family of Chinese extraction.
The company notary deed has been changed and in November 2000 the company was
changed to P.T. WAHANA BARU SEJAHTERA (P.T. WBS). On the same occasion the
issued capital was raised to Rp. 25,000,000 fully and paid up. Then in March
2009 the company notary deed has been changed regarding the lines of business
into general trading, export import services, domestic distributorship and etc.
However the composition of its shareholders and capitalization remained the
same. The latest revision the deed of amendment was made by Mr. Andhy Mulyono,
SH., a public notary in Semarang and was approved by the Ministry of Law and
Human Right in its Decision Letter No. AHU-36623.AH.01.02.TH.2009, dated July
31, 2009.
P.T. WBS had been operating in 1987 in trading, importer and
distribution of agricultural commodities products. Initially the company
imported and distribution of grain and field beans from Vietnam and Thailand.
The company distributed the whole grains and field beans in Semarang, Central
Java. Mr. Chandra Setiawan, the director of the company explained that the
company imported of garlic and groundnut from India and China. He also added
that since 2008 the company has import of zaheti dates, coriander seeds, dried
chilies, blanched peanut, fresh shallots, broad beans, cowpeas from Vietnam and
China. Then, the whole product like garlic and groundnut and other commodities
products marketed locally through traditional market in Central Java and
surroundings area. We observed that the company’s operation has been growing in
the last three years.
We have noticed that the demand for agricultural products had increased
some 10% to 11% per annum in the last five years in line with the growth of
industrial manufacturing in the country and international market. In the coming
years, the growth rate of demand is estimated at about 6% to 7% per annum. The
present market situation for agricultural products is very competitive for a
large number of similar companies operating in the country. Meanwhile,
competition is quite heavy in the export import of agricultural products with
many companies now doing business in this field in Indonesia. We consider P.T.
WBS to be in a quite favorable position for having already got hold of a steady
clientele in the Central Java.
Until this time P.T. WBS has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. WBS is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company in 2011 amounted to Rp. 8.2 billion rose to Rp. 9.0 billion in 2012
increased to Rp. 10.2 billion in 2013. It is projected the sales turnover will
be rising by at least 4% in 2014. The company operation in 2013 yielded a net
profit of Rp. 510 million with an estimated total networth of at least Rp. 800
million. 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. WBS is led by Mr. Chandra Setiawan (58) a
businessman with experienced in trading, import and distribution of
agricultural commodities products. 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. WAHANA BARU
SEJAHTERA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.92 |
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UK Pound |
1 |
Rs.98.66 |
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Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIT |
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 |
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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 |
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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 |
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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.