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Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. DWI TUNGGAL BUANA |
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Registered Office : |
Jalan Balikpapan Raya No. 22-C Petojo Utara, Gambir |
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Country : |
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Date of Incorporation : |
11.09.2008 |
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Com. Reg. No.: |
No. AHU-39014.AH.01.02.TH.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution of Fresh Fruits, Potatoes and Garlic |
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No. of Employees : |
13 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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Indonesia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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. DWI TUNGGAL BUANA
A d d r e s s :
Head Office
Jalan Balikpapan Raya No. 22-C
Petojo Utara, Gambir
Jakarta Pusat, 10260
Indonesia
Phone -
(62-21) 6385 4280
Fax - (62-21) 6385 4281
Building Area - 2 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
11 September 2008
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
- No.
AHU-92466.AH.01.01.TH.2008
Dated 2 December 2008
- No.
AHU-39014.AH.01.02.TH.2011
Dated 3 August 2011
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 02.492.292.4-029.000
Related Company :
None
Capital Structure :
Authorized Capital : Rp.
10,500,000,000.-
Issued Capital : Rp.
10,500,000,000.-
Paid up Capital : Rp.
10,500,000,000.-
Shareholders/Owners :
a. Mr. Yoyon Ahmad Mukarrom -
Rp. 5,355,000,000.-
Address : Jl. Puri Harapan Block E. 7/32, RT. 002 RW. 016
Kelurahan Setia Asih,
Kecamatan Bekasi
Selatan, Bekasi, West Java
Indonesia
b. Mr. Diden Sutisna -
Rp. 5,145,000,000.-
Address : Jl. Swasembada Barat XII/4, RT. 011 RW. 012
Kelurahan Kebon Bawang,
Kecamatan
Tanjung Priok, Jakarta
Utara
Indonesia
Lines of Business :
Trading, Import and Distribution of Fresh Fruits, Potatoes and Garlic
Production Capacity :
None
Total Investment :
None
Started Operation :
2009
Brand Name :
Dwi Tungal Buana
Technical Assistance :
None
Number of Employee :
13 persons
Marketing Area :
Local - 100%
Main Customer :
Traditional markets
Market Situation :
Very Competitive
Main Competitors :
a. C.V. AGRO NUSA PERMAI
b. P.T. GLOBAL SARANA PERKASA
c. P.T. LANGGENG PUTRA MANDIRI
d. P.T. SUMBER ALAM JAYA PERKASA
e. Etc.
Business Trend :
Growing
B a n k e r s :
P.T. Bank MANDIRI Tbk
Jalan Balikpapan Raya No. 23
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 10.9 billion
2012 – Rp. 11.5 billion
2013 – Rp. 12.3 billion
Net Profit (estimated) :
2011 – Rp. 0.6 billion
2012 – Rp. 0.8 billion
2013 – Rp. 1.0 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Yoyon Ahmad Mukarrom
Board of Commissioners :
Commissioner - Mr. Diden Sutisna
Signatories :
Director (Mr. Yoyon Ahmad Mukarrom)
which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
P.T. DWI TUNGGAL BUANA (P.T. DTB) was established in Jakarta based on notary
deed Mrs. Theresia Lusiati Siti Rahayu, SH., no. 17 dated 11 September 2008
with the authorized capital of 501,000,000 wholly issued and paid up. The
founding and shareholders of the company are Mr. Darwen Soetendy Widjaja and
Mr. Diden Sutisna, both are Indonesian businessmen of Chinese extraction. The
company notary deed had been changed a couple of times and according to the
revision of notary deed Mrs. Mutiara Hartanto, SH., no. 35 dated 20 July 2011
the company authorized capital was increased to Rp. 10,500,000,000 wholly
issued and paid up. On the same occasion Mr. Darwen Soetendy Widjaja pulled out
and the replaced by Mr. Yoyon Ahmad Mukarrom as new shareholder. With this
development the composition of its shareholders has been changed to become Mr.
Yoyong Ahmad Mukarrom (51%) and Mr. Diden Sutisna (49%). The deed of amendments
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-39014 dated August 20, 2011.
P.T. DTB has been operating since 2009 dealing with trading, import,
supply and distribution of fresh fruits, food and beverages, potatoes and
garlic. The company import of fresh fruits likes grapes, oranges, apple, pear,
kiwi from USA, Australia, New Zealand; food and beverages form Australia;
potatoes from China and garlic from India. The commodities are sold to
supermarkets in Jakarta, Medan and Surabaya, and several fruits stores, grocery
fruits. The garlic products marketed through traditional markets in the
country. The global economic crisis and very sharp depreciation of the Rupiah
to foreign currencies in October 2008 have adversely affected the company's
operations for having caused the sales prices of the fruit and agriculture
products of the company is selling, which have mostly been imported, to be very
high and started increasing since April 2009 in line with the amelioration of
the economic condition in the country.
We observe that P.T. DTB is classified as a medium sized company in the
country dealing with trading, importing and distributor of fresh fruits of
which the operation had been running smoothly and growing slowly in the last
three years.
We note that generally the domestic demand for fresh fruits has been
rising by about 8% - 10% per year in the last five years in line with the
growing population and increasing income of part of the population in the
country. The demand is projected to go on rising each year in the next five
years. Meanwhile, competition is quite heavy in the fruit trade with many
companies now doing business in this field in Indonesia. We consider P.T. DTW
to be in a quite favorable position for having already got hold of a steady
clientele in the country.
Until this time P.T. DTB has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. DTB 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. 10.9 billion rose to Rp. 11.5 billion in 2012 increased to Rp. 12.3 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. 1.0 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. DTB is led by Mr. Yoyon Ahmad Mukarrom (63) a
businessman and professional manager with experience in trading, import and
distribution of industrial fresh fruits, food and beverages, potatoes and
garlic. 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. DWI TUNGGAL BUANA is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.81 |
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|
1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
SDA |
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.