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Report No. : |
338158 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
UD. SUMBER JAYA |
|
|
|
|
Registered Office : |
Jalan Nyamplungan 41, Kelurahan Ampel, Kecamatan Semampir, Surabaya,
60151, East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Year of Establishment : |
2010 |
|
|
|
|
Legal Form : |
Sole
Proprietary Company |
|
|
|
|
Line of Business : |
Subject is engaged in trading and exporter of agriculture commodities
products |
|
|
|
|
No. of Employee : |
7 |
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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|
|
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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 |
UD. SUMBER JAYA
Head Office
Jalan
Nyamplungan 41
Kelurahan
Ampel, Kecamatan Semampir
Surabaya,
60151
East
Java
Indonesia
Phones -
(62-31) 3550 166, 3557 743
Fax - (62-31) 3537 840
E-mail - smbr_jaya@yahoo.co.id
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2010
Legal
Form :
Sole
Proprietary Company
Company
Reg. No. :
Not
Required
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
None
Related
Company :
C.V.
SUMBER MURNI (Trading and Exporter of Agriculture Products)
Capital
Structure :
Authorized
Capital : Rp.
200 million
Owner
:
Mrs. Juniati Go
Lines of Business :
Trading and Exporter of
Agriculture Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2010’s
Brand Name :
Sumber Jaya
Technical Assistance
:
None
Number of Employee :
7 persons
Marketing Area :
Export -
100%
Main Customer :
Buyers in Pakistan
Market Situation :
Very Competitive
Main Competitors :
a. C.V. BIOLA JAYA
b. C.V. BUMI DJAJA
c. C.V. JAYA BERSAMA
d. C.V. MANDIRI
PERKASA
Business Trend :
Growing
Banker
:
P.T.
Bank CENTRAL ASIA Tbk
Jalan
Nyamplungan No. 51-53
Surabaya,
East Java
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2012
– Rp. 4.0 billion
2013
– Rp. 4.5 billion
2014
– Rp. 5.2 billion
Net
Profit (estimated) :
2012
– Rp. 200 million
2013
– Rp. 250 million
2014
– Rp. 312 million
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mrs. Juniati Go
Board of Commissioners :
None
Signatories :
Director
(Mrs. Juniati Go) is only the authorized person to sign the loan on behalf of
the company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
UD. SUMBER JAYA (UD. SJ) was in Surabaya, East Java in
2010’s with the status of Sole Proprietary Company. Founders and owners of the
company is Mrs. Juniati Go an Indonesian businesswoman of Chinese descent.
Being as Sole Proprietary Company, the amount of its authorized capital was not
mentioned at the time of its establishment. We estimate, UD. SUMBER JAYA has
own capital of about Rp. 200 million and it will be rising in line with the
progress of its business operation.
UD. SJ is a sole proprietary company started to be
operating since 2010 dealing with trading and exporter of agriculture
commodities products. The company provides and exports of cashew nuts, green
mung bean, coffee bean, tamarind seeds, and other related agriculture products.
According information the whole products obtained from farmers in Central Java,
East Java, Sulawesi, Lampung and others cities in Java. The company is able to
provide and export of products based on job orders from the buyers in Pakistan
such as tamarind seeds, cashew and others. The company has exporter of products
to their buyers in Pakistan and India. Currently, the company has exported
tamarind seed of 75.8 tons (3 x 20 feet container) to AAMIR CORPORATION; 75.5
tons (3 x 20 feet container) to JAWEED & BROTHER and 50.1 tons (2 x 20 feet
container) to KERAWALA ENTERPRISES all in Pakistan. We observe that UD. SJ is
classified a small sized company of its kinds in the country with operation has
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 UD. SJ is to be in a quite favorable position for having already got
hold of a steady clientele in Pakistan.
Until this time UD. SJ 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. 4.0 billion increased to Rp. 4.5 billion in 2013 rose to Rp.
5.2 billion in 2014 and projected to go on rising by at least 4% in 2015. The
operation in 2014 yielded an estimated net profit of at least Rp. 322 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. SJ is led by Mrs. Juniati Go (48) a
businesswoman with experience in trading and exporter of agriculture
commodities products. The company's management is handled by a number of 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. SUMBER JAYA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.