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Report No. : |
354057 |
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Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. LIKA DAYATAMA |
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Registered Office : |
Komplek Ruko Puri Mutiara Blok A No. 110-111, Sunter Agung Distict, Tanjung Priok Jakarta Utara 14350 |
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Country : |
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Date of Incorporation : |
29.01.2003 |
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Com. Reg. No.: |
AHU-AH.01.10-08123 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Import and Distribution of Agricultural Products |
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No. of Employees : |
46 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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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.
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Source
: CIA |
BASIC SEARCH |
Name of Company :
P.T.
LIKA DAYATAMA
Address :
Head Office
Komplek Ruko Puri Mutiara Blok A No. 110-111
Sunter Agung Distict, Tanjung Priok
Jakarta Utara 14350
Indonesia
Phones -
(62-21) 6583 5001, 6583 5002
Fax. - (62-21) 6583 7666
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
29 January 2003
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-28177.AH.01.02.Tahun 2009
Dated 24 June 2006
b. No. AHU-34455.AH.01.02.Tahun 2009
Dated 22 July 2009
c. No. AHU-AH.01.10-08123
Dated 06 April 2010
Company Status :
National Private Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. 02.238.691.6-046.000
Not available
CAPITAL AND OWNERSHIP |
Capital Structure
:
Authorized Capital - Rp.
1,000,000,000.-
Issued Capital -
Rp. 500,000,000.-
Paid up Capital -
Rp. 500,000,000.-
Shareholders/Owners
:
a. Mr.
Andy Purnawijaya Then - Rp. 300,000,000.-
(60%)
Address : Jl. Ps Glodok
Selatan No. 7
RT.03/RW.01, Glodok
Jakarta Barat
b. Mr. Ivan - Rp.
200,000,000.- (40%)
Address :
Jl. Sukapura I No. 3
RT.02/RW.01, Sukapura, Kejaksan
Cirebon,
West Java
BUSINESS ACTIVITIES |
Lines of Business
:
Trading, Export-Import and Distribution of
Agricultural Products
Production
Capacity :
None
Total Investment :
a. Owned Capital - Rp.
2.5 billion
b. Loan Capital -
Rp. 0 billion
c. Total Investment - Rp. 2.5 billion
Started Operation
:
June 2003
Brand Name :
None
Technical
Assistance :
None
Number of Employee
:
46 persons
Marketing Area :
a. Local - 60%
b. Export - 40%
Main Customers :
a. Traditional markets in Jakarta and its surroundings
b. Supermarkets and Hypermarkets
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI SAMPOERNO
d. C.V. PUTRA NUSA
e. C.V. SUMBER BUMI JAYA
f. C.V. ARSAM PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i.
Etc.
Business Trend :
Fluctuating
BANKER, AUDITOR & LITIGATION |
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Enggano No. 22-23
Tanjung Priok, Jakarta Utara
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Enggano No. 42-42B
Tanjung Priok, Jakarta Utara
Indonesia
c. P.T. Bank NUSANTARA PARAHYANGAN
Jl. K.H Wahid
Hasyim No. 171
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE |
Total
Income/Revenues (estimated) :
2010 – Rp. 16.9 billion
2011 – Rp. 20.0 billion
2012 – Rp. 18.5 billion
2013 – Rp. 22.0 billion
2014 – Rp. 24.5 billion
Net Profit (Loss)
:
2010 – Rp. 1.1 billion
2011 – Rp. 1.3 billion
2012 – Rp. 1.2 billion
2013 – Rp. 1.4 billion
2014 – Rp. 1.6 billion
Payment Manner :
Average
Financial Comments
:
Fairly strong
KEY EXECUTIVES |
Board
of Management :
Director -
Mr. Andy Purnawijaya Then
Operational Manager - Mr. Yusuf Taufik
Board
of Commissioners :
President Commissioner -
Mr. William Tjugiarto
Commissioners -
a. Mr. Ivan
b. Mr. Ifan Effendy
Signatories :
Director (Mr.
Andy Purnawijaya Then) or Operational Manager (Mr. Yusuf Taufik) which must be
approved by Board of Commissioners.
CAPABILITIES
|
Management
Capability :
Good
Business
Morality :
Good
OVERALL PERFORMANCE |
P.T.
LIKA DAYATAMA (P.T. LD) was established in Jakarta on January 29, 2003 with an
authorized capital of Rp. 1,000,000,000.- issued capital of Rp. 500,000,000.-
entirely paid up. The founding shareholders are Mr. Akmal Apendra (60%) and Mr.
Kusmanto (40%), both are indigenous businessmen. The Deed of establishment was approved by the
Minister of Law and Human Rights through Decision Letter No. C-04205
HT.01.01.TH.2003 dated February 27, 2003.
The Company’s article of association has been amended for several times,
and by notarial deed of Musa Muamarta, SH., No. 14 dated June 9, 2009
concerning changes of the whole article of association of the Company’s to
conform with Law No. 40 Year 2007 concerning Limited Liability Company. The amendment to Deed has been approved by the
Minister of Law and Human Rights of the Republic of Indonesia through Decree
No. AHU-34455.AH.01.02.Tahun 2009 dated July 22, 2009.
Most recently by notarial deed of Nelson Eddy Tampubolon, SH., No. 39 dated February 20, 2010 the founding shareholders pulled out and the whole shares are sold to Mr. Andy Purnawijaya Then (60%) and Mr. Ivan (40%),both are Indonesian businessmen of Chinese extraction. The amendment to Deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia through its Decree No. AHU-AH.01.10-08123 dated April 6, 2010. Since then, no changes have been effected in term of its shareholding composition and capital structures to date.
P.T.
LD has been in operation since June 2003 in trading, import and distribution of
agricultural products. Mr. Irfan, an
administrative staff of the company explained that the whole agricultural
products likes garlic, groundnut kernels, green mung beans, soya bean, shallots,
etc. are imported from China, India and Taiwan.
Then, the whole products supplied to traditional markets, supermarkets
and snack food industries in Jakarta and its surroundings. Beside, PT. LD also dealing with importing
services. To support its operation, P.T.
LD is in cooperation with severing shipping companies within and outside the
country.
On March 20, 2014, and the Business Competition Supervisory
Commission (KPPU) said that there were 19 importers of garlic are exposed to
financial penalties. One of these companies is P.T. LD were fined Rp. 704.3
million. According to the judge the Commission, the importer was in violation
of Article 19C and 24 of Law No. 5 of 1999 on Prohibition of Monopolistic
Practices and Unfair Competition. Most of them did a monopoly by limiting the
circulation and sale of garlic, and there are proven conspiring with others to
inhibit the production or marketing of garlic. As a result, the supply in the
market is reduced and the price is expensive.
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 P.T. LD to be in a quite favorable position for having
already got hold of a steady clientele in the Java and surroundings.
Until
this time P.T. LD has not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. P.T. LD’s
management is very reclusive to outsider and rejecting to disclose its
financial condition but we estimated the total sales turnover of the company in
2012 amounted of Rp. 18.5 billion increased to Rp. 22.0 billion in 2012 and
rose again to Rp. 24.5 billion in 2014.
The operation in 2014 yielded an estimated net profit at least Rp. 1.6
billion and the company has an estimated total networth at Rp. 6.0
billion. It is projected that total
sales turnover of the company will increase at least 6% in 2015. So far we did not hear that the P.T. LD has
been black listed by Bank Indonesia (Central Bank) or having detrimental cases
being settled in local district court.
The company usually pays its debts punctually to suppliers.
Since
February 2010, the management of the company has been led by Mr. Andy
Purnawijaya Then (53) as Director and CEO of the company. In daily activities he is assisted by Mr.
Yusuf Taufik (50) as Operational Manger. The management, which is evaluated quite
creative and dynamic, also has succeeded in expanding their overseas marketing
network. We consider the management is quite capable of further developing
business in the future. They have close relations with many high-ranking
government officials as well as with private businessmen within and outside the
country. So far, we did not hear that the company’s management involved in the
business malpractices or detrimental cases that settled in the country. The
company’s litigation record is clean and it has not registered with the black
list of Bank of Indonesia.
P.T.
LIKA DAYATAMA is appraised good for business transaction. But owing to economic
condition in the country is still unstable, we recommend to treat prudently in
extending any new loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
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|
1 |
Rs.100.29 |
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Euro |
1 |
Rs.72.89 |
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IDR |
1 |
Rs.0.0048 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
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.