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Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
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Name : |
C.V. AGRO NUSA PERMAI |
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Registered Office : |
Jalan Laksda M. Nasir No. 29 Block
C-7 Kelurahan Perak Barat, Kecamatan |
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Country : |
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Date of Incorporation : |
March 2008 |
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Legal Form : |
Partnership With Sleeping Partners |
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Line of Business : |
Trading, Import and Distribution
of Agricultural Commodities Products and Fresh Fruits |
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No. of Employees : |
13 |
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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B1 |
B1 |
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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 |
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Source
: CIA |
C.V. AGRO
NUSA PERMAI
Head Office
Jalan Laksda M.
Nasir No. 29 Block C-7
Kelurahan Perak Barat, Kecamatan Krembangan
Surabaya, 60175
East Java
Indonesia
Phone -
(62-31) 328 6728
Fax - (62-31) 328 6742
E-mail - agronusa_permai@gmail.com
Building Area - 1 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
March 2008
Legal Form :
C.V. (Commanditaire Vennootschap) or
partnership with sleeping partners
Company Reg.
No. :
Not Required
Company Status
:
Private National
Company
Permit by the
Government Department :
Not Available
Related
Company :
None
Capital
Structure :
Owned Capital : Rp. 300 million
Owners :
a. Mr. Wibowo Dipokusumo (Active Partner)
b. Mr. Basuki Sutrisno (Silent Partner)
Lines of Business :
Trading, Import and Distribution of
Agricultural Commodities Products and Fresh Fruits
Production
Capacity :
None
Total
Investment :
None
Started Operation :
April 2008
Brand Name :
Agro Nusa Permai
Technical
Assistance :
None
Number of Employee :
13 persons
Marketing Area :
Local - 100%
Main Customer :
Traditional market
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ASIA AGROMAS ABADI
b.
C.V. BUMI DJAJA
c.
C.V. PUTRA NUSA
d. P.T.
TUNASUTAMA SARIPERKASA, Etc
Business Trend :
Growing
B a n k e r s
:
a. P.T. Bank BUKOPIN Tbk
Jalan Tanjung Perak Barat No. 61
Krembangan Selatan, Krembangan
Surabaya, East Java
Indonesia
b. P.T. Bank MANDIRI Tbk
Jalan Niaga 42-44
Krembangan Selatan, Krembangan
Surabaya, East Java
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 8.0 billion
2012 – Rp. 8.5 billion
2013 – Rp. 9.0 billion
Net Profit
(estimated) :
2011 – Rp. 480 million
2012 – Rp. 510 million
2013 – Rp. 540 million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Wibowo
Dipokusumo
Board of Commissioners :
Commissioner -
Mr. Basuki Sutrisno
Signatories :
Director (Mr. Wibowo Dipokusumo) is only the
authorized person to sign the loan on behalf of the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
C.V. AGRO NUSA
PERMAI (C.V. ANP) was established in March 2008 in Gresik,
East Java with the legal status of C.V. (Commanditaire
Vennootschap) or Partnership with Sleeping Partner.
The founding owners of the company are Mr. Wibowo Dipokusumo as active partner and Mr. Basuki
Sutrisno as silent partner. Both are indigenous
business family. As in common in cases of companies with C.V. status, there is
no mention in the company’s notarial act of its
capital structure. But going by the company’s conditions, we estimate its
capital at some Rp. 300 million.
C.V. ANP has
been operating since April 2008 dealing with trading, import and distribution
of agricultural commodities. Mr. Wibowo Dipokusumo, Director and owner of the company went on to
say the company import of ground nuts and garlic of China and India; red onion
and fresh fruits from China; grapes, apple from the USA. Then, the whole
product like garlic, red onion and ground nut marketed locally through
traditional market in Gresik, Sidoarjo,
Surabaya and East Java. Besides, the company supplies the above products like
fresh fruit to several fruit stores, grocery fruits, supermarkets, hotel and
restaurant in Gresik, Surabaya and surroundings.
In March 2014,
has passed since the Indonesian Business Competition Supervisory Commission
(KPPU) began investigating the price hikes of imported garlic. Early last year,
garlic skyrocketed, even reaching Rp. 90,000 per
kilogram. After three months of investigation, the KPPU concluded the existence
of a garlic cartel and the case was brought to hearing in July 2013. Yesterday,
the Commission delivered its verdict. Nineteen entrepreneurs are proven to have
been involved in cartel practices. The panel of judges sentenced the guilty
parties with fines amounting to Rp. 11 million to Rp. 921 million per company. C.V. ANP has been fined of Rp. 919.6 million due to the garlic cartel.
Besides, the
Minister of Trade has summoned 14 Registered Importers of Horticultural Products,
owners of containers filled with garlic that are being held at the Tanjung Perak port. The most
important thing is the availability of garlic in the market and that the price
is still affordable to the public,” emphasized the Trade Minister together with
the Indonesian Minister of Agriculture Suswono today,
Monday (18/3), at the Auditorium of the Ministry of Trade. The fourteen
importers summoned were P.T. Ridho Sribumi Sejahtera, P.T. Binagloria Enterprindo, P.T. Rachmat Rejeki Bumi, P.T. Lika Dayatama, P.T. Tunas Sumber Rejeki, P.T. Pentabiz Internasional, CV.
Agro Nusa Permai, P.T. Wahana Mitra Mulia,
P.T. Painan Jintai
Resources, P.T. Sumber Roso
Agromakmur, P.T. Dakai Impex, P.T. Citra Gemini Mulia,
P.T. Cahaya Anugerah Abadi Sejahtera, and P.T. Asta Para Wisinda Sentausa. We find that C.V. ANP's
operations have been growing slowly 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 C.V. ANP to be in a quite
favorable position for having already got hold of a steady clientele in East
Java.
Until this time
C.V. ANP 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. 8.0 billion rose to Rp. 8.5 billion in 2012 increased to Rp.
9.0 billion in 2013 and projected to go on rising by at least 5% in 2014. The
operation in 2013 yielded an estimated net profit of at least Rp. 540 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 C.V. ANP is led by Mr. Wibowo Dipokusumo
(48) a businessman and professional manager with experience in trading, import
and distribution of agriculture commodities products. The management will
eventually be handled by professional managers having wide relation with
overseas and national private businessmen as well as with the government
sectors. In view of C.V. AGRO NUSA PERMAI involved in garlic cartel in 2013, we
recommend that a high degree of prudence be observed in business transactions
and adequate collateral from its shareholders be acquired in extending a new
loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.57 |
|
|
1 |
Rs.100.42 |
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Euro |
1 |
Rs.78.44 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
NIS |
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.