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Report No. : |
316937 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. TORA SANJAYA
MANUNGGAL |
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|
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Registered Office : |
Jalan Raya Mangga Dua, Ruko Agung Sedayu Block
L/12-A, Mangga Dua Selatan, Sawah Besar, Jakarta Pusat, 10730 |
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Country : |
Indonesia
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Date of Incorporation : |
09.01.2012 |
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Com. Reg. No.: |
AHU-04249.AH.01.01.TH.2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import, Supply and Distribution of Hardware and Technical Goods Equipments |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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. President Joko WIDODO - elected in
July 2014 - has emphasized domestic economic growth in his first few months in
office and in November 2014 reduced fuel subsidies, a move which could help the
government increase spending on its development priorities. Indonesia, with the
nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
BASIC SEARCH
|
Name
of Company :
P.T.
TORA SANJAYA MANUNGGAL
A
d d r e s s :
Head Office
Jalan
Raya Mangga Dua
Ruko
Agung Sedayu Block L/12-A
Mangga
Dua Selatan, Sawah Besar
Jakarta
Pusat, 10730
Indonesia
Phones -
(62-21) 612 1464, 612 7248, 612 465
Fax - (62-21) 612 2012
Building Area - 2 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
9
January 2012
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
No.
AHU-04249.AH.01.01.TH.2012
Dated
26 January 2012
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Companies :
a. P.T. MEGA INDAH CARGO (Freight Forwarding
Services)
b. P.T. PCM MANDIRI (Trading, Leasing, Rent and
Distribution of Copying Machines)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued
Capital :
Rp. 600,000,000.-
Paid
up Capital :
Rp. 600,000,000.-
Shareholders/Owners
:
a. Mr. Joseph Situwali -
Rp. 480,000,000.-
Address : Jl. Jamrud III Block I No. 5, RT. 008 RW.
006
Kelurahan Tugu Selatan, Kecamatan Koja
Jakarta Utara
Indonesia
b. Mr. Ahmad Taufiq Soamole -
Rp. 60,000,000.-
Address :
Jl. Sungai Kapuas I No. 19, RT. 016 RW. 001
Kelurahan Semper Barat, Kecamatan Cilincing
Jakarta Utara
Indonesia
c. Mr. Arthur Tri Aryandi Harahap - Rp. 60,000,000.-
Address :
Jl. Harun No. 24, RT. 001 RW. 010
Kelurahan Jatirahayu, Kecamatan Pondok
Melati, Bekasi, West Java
Indonesia
BUSINESS ACTIVITIES
|
Lines of Business :
Trading, Import,
Supply and Distribution of Hardware and Technical Goods Equipments
Production Capacity :
None
Total Investment :
None
Started Operation :
March 2012
Brand Name :
Tora Sanjaya
Manunggal
Technical Assistance
:
None
Number of Employee :
12 persons
Marketing Area :
Local - 100%
Main Customer :
Oil and gas
industries, petrochemical industries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ADIKARSA TEGUHBUANA
b. P.T. ADHINUSA
LESTARI JAYA
c. P.T. GRUNDFOS
POMPA
d. P.T. INDOBARA
BAHANA
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B
a n k e r s :
a.
P.T. Bank CENTRAL ASIA Tbk
Jalan Mangga Dua Raya Block C-5 Kav. 1
Mangga Dua Selatan, Sawah Besar
Jakarta Pusat
b. P.T. Bank PERMATA Tbk
Jalan Mangga Dua Raya No. 4
Mangga Dua Selatan, Sawah Besar
Jakarta Pusat
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
2012
– Rp. 6.5 billion (March – December)
2013
– Rp. 8.0 billion
2014
– Rp. 9.0 billion
Net
Profit (estimated) :
2012
– Rp. 0.3 billion
2013
– Rp. 0.5 billion
2014
– Rp. 0.6 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
|
Board of Management :
Director - Mr. Ahmad Taufiq Soamole
Board of Commissioners :
Commissioner - Mr. Arthur Tri Aryandi Harahap
Signatories :
Director
(Mr. Ahmad Taufiq Soamole) which must be approved by Board of Commissioner
CAPABILITIES
|
Management Capability :
Satisfactory
Business Morality :
Satisfactory
OVERALL PERFORMANCE
|
P.T. TORA SANJAYA MANUNGGAL (P.T. TSM) was established in
Jakarta based on notary deed Mrs. Merry Eddy, SH., no. 06 dated 9 January 2012
with an authorized capital of Rp. 1,000,000,000 issued capital of Rp.
600,000,000 entirely paid up. The founding and shareholders of the company are
Mr. Joseph Situwali (80%) and Indonesian businessman of Chinese descent Mr.
Arthur Tri Aryandi Harahap (10%) and Mr. Ahmad Taufiq Soamole (10%) both are
indigenous businessmen. The notary deed of incorporation was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-04249.AH.01.01.TH.2012 dated January 26, 2012.
P.T. TSM is a national private company started to be
operating in March 2012 dealing with trading, import, supply and distribution
of hardware and technical goods equipments. The merchandise goods products are
industrial valve, iron pipe, and others. Mr. Ahmad Taufiq Soamole, Director of
the company explained the company sells and distributes of hardware and
technical goods equipment which imported from Europe, South Korea, Japan,
China, India and other countries.
P.T. TSM is an Importer and distributor of goods,
specifically for safety boxes, fire extinguisher tube, tube compressor empty,
chain box, dog cages, beauty case, aluminum steels, cooper, bass, drilling pipes,
inner lining, fittings, gate valve, iron pipe, flange, hardware and others.
The whole hardware and technical goods equipments uses
for all purpose such as oil and gas industries, petrochemical industries, water
services, wastewater, aquaculture, pharmaceutical, food and beverages, textile,
cement, pulp & paper mills and other industries. The whole merchandise
goods products marketed locally through by its dealer & shops in Jakarta,
Bandung, Surabaya, Semarang, Sumatera, Sulawesi and Kalimantan. We observe the
operation of P.T. TSM has been growing in the last three years.
Generally outlook we find the demand for technical goods
and engineering services has been rising by 6% to 8% per year in the last five
years, in line with the growth of industrial sectors like chemical, textile,
cement, natural oil industries, etc. Based on the forecast from some
economists, Indonesia’s economic growth in 2015 is still challenging. Bank
Indonesia has decided to maintain the BI Rate at 7.75% based on the evaluation of
the 2015 economic outlook. This is also in line with the efforts to steer
inflation around 4% by 2015, while supporting the control of the current
account deficit to a more healthy level. The Rupiah currency is predicted to be
in the average range of Rp. 12,500 per US dollar until mid 2015. Bank Indonesia
estimates that Indonesia’s economic growth will be around 5.4 to 5.8% in 2015.
The above conditions indicate that in general, Indonesia’s economic condition
is not growing optimally and mainly focuses on maintaining economic stability.
Indonesia National Budget Plans 2015, the government has predicted the
following 2015 global economic challenges which cover; uncertain global economy
triggered by either economic downturn or economic crisis in many countries; the
risk caused by the fluctuating global commodity prices, especially the raw oil
price; commitment to support the ASEAN Economic Community (AEC); and
implementation of the global development agenda post 2015. Meanwhile, the
forecasted 2015 domestic economic challenges will cover: An increase in the
slowing down of economic growth; risk in the domestic financial market;
imbalanced payment balance sheet; and reduced social gap. This condition
potentially impacts both the industry and the market in which P.T. TSM is
engaged. It is estimated that industrial growth equal to or less compared to
the previous year.
Until this time P.T. TSM has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. TSM is very reclusive towards
outsiders and rejected to disclose its financial condition. We observed that
total sales turnover of the company in March to December 2012 amounted to Rp.
6.5 billion increased to Rp. 8.0 billion in 2013 rose to Rp. 9.0 billion in
2014 and projected to go on rising by at least 6% in 2015. The operation in
2014 yielded an estimated net profit of at least Rp. 0.6 billion and the
company has an estimated total networth 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. TSM is led by Mr. Ahmad Taufiq
Soamole (57) a businessman with experience in trading, import, supply and
distribution of hardware and technical goods equipments. 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. TORA SANJAYA
MANUNGGAL is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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 |
|
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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 |
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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.