|
Report No. : |
335607 |
|
Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
UD. WATTA TEGUH MANDIRI |
|
|
|
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Registered Office : |
Jalan
Kunir No. 12-14, Surabaya, 60175, East Java |
|
|
|
|
Country : |
Indonesia
|
|
|
|
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Date of Incorporation : |
October 1996 |
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|
|
|
Legal Form : |
Sole Proprietary Company |
|
|
|
|
Line of Business : |
Trading, Export
Import of Agricultural Commodities Products |
|
|
|
|
No. of Employees : |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia has seen a slowdown in growth since 2012, mostly
due to the end of the commodities export boom. 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, a current account deficit, and unequal
resource distribution among regions. President Joko WIDODO - elected in July
2014 - has emphasized maritime and other infrastructure development, and
especially increased electric power capacity, since taking office. Fuel
subsidies were almost completely removed in early 2015, a move which could help
the government increase spending on its development priorities. Indonesia, with
the nine other ASEAN members, will continue to move towards participation in
the ASEAN Economic Community, though full implementation of economic
integration will not be completed by the previously-set deadline of year-end
2015.
|
Source
: CIA |
BASIC SEARCH
|
Name
of Company :
UD.
WATTA TEGUH MANDIRI
A
d d r e s s :
Head Office
Jalan
Kunir No. 12-14
Surabaya,
60175
East
Java
Indonesia
Phones -
(62-31) 3570166, 3545362
Fax - (62-31) 3570172, 3570173
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
October
1996
Legal
Form :
Sole
Proprietary Company
Company
Reg. No. :
Not
Required
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
P.T.
WATTARI TERANGABADI (International Freight Forwarding)
CAPITAL
AND OWNERSHIP
|
Capital
Structure :
Owned
Capital : Rp.
150.0 million
Owners
:
a. Mr. Teguh Wiyono
b. Mr. Surya Wiyono
BUSINESS
ACTIVITIES
|
Lines of Business :
Trading, Export
Import of Agricultural Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
October 1996
Brand Name :
Watta Teguh Mandiri
Technical Assistance
:
None
Number of Employee :
8 persons
Marketing Area :
Local -
100%
Main Customer :
Traditional markets
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ADI SAMPOERNO
b. P.T. ALAM INDORAMA
c. P.T. DAKAI IMPEX
d. P.T. SUPA SURYA NIAGA
e. Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
|
B
a n k e r s :
a. P.T. Bank
CENTRAL ASIA Tbk
Gubeng – Surabaya Branch
Surabaya, East Java
Indonesia
b. P.T. Bank
CIMB NIAGA Tbk
Jalan Basuki Rachmat 8-12
Surabaya, East Java
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL
FIGURE
|
Annual
Sales (estimated) :
2012
– Rp. 3.0 billion
2013
– Rp. 3.5 billion
2014
– Rp. 4.0 billion
Net
Profit (estimated) :
2012
– Rp. 180 million
2013
– Rp. 210 million
2014
– Rp. 240 million
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY
EXECUTIVES
|
Board of Management :
Director - Mr. Teguh Wiyono
Manager -
Mr. Surya Wiyono
Board of Commissioners :
None
Signatories :
Director
(Mr. Teguh Wiyono) is only the authorized person to sign the loan on behalf of
the company.
CAPABILITIES
|
Management Capability :
Satisfactory
Business Morality :
Satisfactory
OVERALL
PERFORMANCE
|
Based on search and investigation result the correct name
of the Subjects is UD. WATTA TEGUH MANDIRI not UD. WATTA TEGHU MANDIRI as stated
in your order ref. no. 335607 dated 4 August 2015.
UD. WATTA TEGUH MANDIRI (UD. WTM) was incorporated in
Surabaya, East Java in October 1996 with the status of Sole Proprietary
Company. Founder and owner of the company is Mr. Teguh Wiyono and his young
brothers Mr. Surya Wiyono, both of are Indonesian business family of Chinese
extraction. Being as Sole Proprietary Company, the amount of its authorized
capital was not mentioned at the time of its establishment. In our estimate,
the company has own capital of about Rp. 150 million and it will be rising in
line with the progress of its business operation.
UD. WTM is a sole proprietary company started with
operating since October 1996 dealing with trading, export import of
agricultural commodities products. In its operation the company focuses it
activity in specialized in trading export and import of agriculture commodities
such as cocoa powder, cocoa cakes, cocoa butter, desiccated coconut powder etc;
cloves, clove stem, cumin seeds, fennel seeds, fenugreek seeds, ginger,
turmeric, mustard seeds, nutmegs, candlenut, long/white/black pepper, cassia
vera, betel nut, dried red chili etc; green mug beans, black eye beans, brown
beans, sunflower seeds, raw cashew nut etc. Currently the company import and sells
of garlic, red onion, ground nuts, green bean, soybean and chili which imported
from India, China, Vietnam and others. According information from Mr. Surya
Wiyono, Manager of the company explained the whole products distributed and
supplied through traditional markets in East Java and Eastern Indonesia. We
observe UD. WTM is classified a small sized company of its kinds in the country
with operation has been grow with 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.
Until this time UD. WTM 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 observed that
total sales turnover of the company in 2012 amounted to Rp. 3.0 billion
increased to Rp. 3.5 billion in 2013 rose to Rp. 4.0 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. 240 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 UD. WTM is led by Mr. Teguh Wiyono (50)
a businessman with experience in trading, export import 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. UD. WATTA TEGUH MANDIRI is
sufficiently fairly good for business cooperation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.83 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
|
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 |
|
|
-- |
NB |
New Business |
-- |
|
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.