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Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. FJ&J INTERNASIONAL |
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Registered Office : |
Jl. Sikambing GG Citarum No. 36, Sei Putih Timur, Medan Petisah, Medan, North Sumatra |
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Country : |
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Date of Incorporation : |
10.01.2012 |
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Com. Reg. No.: |
No. AHU-27417.AH.01.02.TH.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Import and Distribution of
Agriculture Products |
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No. of Employees : |
16 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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Source
: CIA |
Name of Company :
P.T.
FJ&J INTERNASIONAL
A d d r e s s :
Head
Office
Jl. Sikambing GG Citarum No. 36
Sei Putih Timur, Medan
Petisah
Medan, North Sumatra
Indonesia
Phone -
(+62) 82164 397 806
Fax - not
available
Email - vjjexports@yahoo.com
Building Area - 2 stores
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
10 January 2012
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-04329.AH.01.01.TH.2012
Dated 26 January 2012
b. No. AHU-27417.AH.01.02.TH.2012
Dated 23 May 2012
Company Status :
National Private Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. 31.451.737.6.124.000
Related/Affiliated Company :
None
Capital Structure
:
Authorized Capital - Rp.
500,000,000.-
Issued Capital - Rp.
500,000,000.-
Paid up Capital - Rp. 500,000,000.-
Shareholders/Owners
:
a.
Mr. Antonius Ambros -
Rp. 499,900,000.- (99.98%)
Address : Jl.
Sikambing GG Citarum No. 30
Sei Putih Timur 1, Medan Petisah
Medan, North Sumatra
Indonesia
b.
Mrs. Dewi Sartika Sitompul -
Rp. 100,000.- ( 0.02%)
Address : Dusun V.G. Karoja
Deli Serdang
North Sumatra - Indonesia
Lines of Business
:
Trading, Export-Import and Distribution of
Agriculture Products
Production
Capacity :
None
Total Investment :
Owned Capital - Rp. 500,000,000
Started Operation
:
January 2012
Brand Name :
None
Technical
Assistance :
None
Number of Employee
:
16 persons
Marketing Area :
Domestic
- 60%
Export
- 40%
Main Customers :
a. Supermarkets
b. Traditional Market
c. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. DAKAI IMPEX
b. P.T. ALAM INDORAMA
c. C.V. BUMI DJAJA
d. P.T. ADI SAMPOERNO
e. C.V. PUTRA NUSA
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Medan Branch
North Sumatra
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Medan Branch
North Sumatra
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2012 – Rp. 8.5 billion
2013 – Rp. 12.0 billion
Net Profit
(estimated) :
2012 – Rp. 550 million
2013 – Rp. 780 million
Payment Manner :
Average
Financial Comments
:
Satisfactory
Board of Management :
Director - Mr. Antonius Ambros
Board of Commissioners :
Commissioner -
Mrs. Dewi Sartika Sitompul
Signatories :
The Director (Mr. Antonius Amrbos)
which must be approved by the board of commissioner (Mrs. Dewi Sartika
Sitompul)
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below Average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
P.T.
VJ&J INTERNASIONAL (P.T. VJ&JI) was established in Medan, North Sumatra
based on Notarial Deed of Notary Arifin, SH., No. 02 dated January 10, 2012
with an authorized capital of Rp. 50,000,000.- entirely was issued and fully
paid up.The founding shareholders are Mr. Antonius Ambros (99.8%) and Miss Dewi
Sartika Sitompul (0.2%), both are indigenous business persons. The Deed of
establishment has been approved by the Minister of Law and Human Right through
its Decision Letter No. AHU-04329.AH.01.01.Tahun 2012 dated January 26, 2012.
The
Company’s article of association has been amended, most recently by notarial Deed
of Arifin, SH., No. 1 dated April 5, 2012 the authorized capital was raised to
Rp. 500,000,000.- entirely was issued and fully paid up. But no changes have
been effected in term of its shareholding composition and capital structures to
date. The amendment to
Deed has been approved by the Minister of Law and Human Rights of the Republic
of Indonesia through Decree No. AHU-27417.AH.01.02.Tahun 2012 dated May 23,
2012.
P.T.
VJ&JI has been in operation since January 2012 in trading, export and
distribution of agricultural products.
Mr. Sitanggang, a marketing staff of the company explained that the
agricultural products are exported by the company is dammar batu (dammar batu
is petrified natural resin of ancient shorean trees, bought from farmer in Sumatra
(Riau). It is much harder than other
resin. It has brown and black colors
with various sizes (from 1 cm to 20 cm).
Then, the whole products are exported to India and Pakistan. We observed that P.T.
VJ&JI is still relatively new company in trading and export of essential
oil and aromatic chemicals.
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.
P.T. VJ&JI is classified as a new company of its kind in the country
of which the operation has been growing slowly.
Until
this time P.T. PJ has not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. The management of
P.T. PJ is very reclusive towards outsiders and rejected to disclose its
financial condition. We estimated
that total sales turnover of the company in 2012 amounted of Rp. 8.5 billion
and increased to Rp. 12.0 billion in 2013. The operation in 2013 yielded an
estimated net profit at least Rp. 780 million and the company have an estimated
total net worth at Rp. 2.5 billion. It
is projected that total sales turnover of the company will increase at least
10% in 2014. So far, we did not hear 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 the company is led by Mr. Antonius Ambros (45) as director and
CEO of the company. He is a businessman
who experienced for more than 12 years in the field of trading, export and
distribution of agricultural products.
In daily activities, he is assisted by Mrs. Dewi Sartika Sitompul (25)
as commissioner. The company has had
wide relation in the realm of the private businessmen inside and outside the
country. So far, we have never heard that
the company’s management involved in a dirty business practice or detrimental
cases that settled in the country. The company’s litigation record is clean and
it has not registered with the black list of Bank of Indonesia.
Since this company (PT. VJ&JI) just
about two years in operation commercially, so we recommend caution when going
to provide fresh loans to them. Or it should
obtain sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
PDT |
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.