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Report No. : |
354272 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
C.V. TITAN UTAMA |
|
|
|
|
Registered Office : |
Jalan
Mujahir No. 90, Belawan, Medan, 20413, North Sumatera |
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|
|
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Country : |
Indonesia |
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|
|
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Year of Establishment : |
2000 |
|
|
|
|
Legal Form : |
C.V.
(Commanditaire Vennootschap) or partnership with sleeping partner |
|
|
|
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Line of Business : |
Trading, import and distribution of fresh fruits and peanuts |
|
|
|
|
No. of Employee : |
7 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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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
Name
of Company :
C.V. TITAN UTAMA
Address
:
Head Office
Jalan
Mujahir No. 90
Belawan,
Medan,
20413
North
Sumatera
Indonesia
Phone - (62-61) 694 1677
Fax -
(62-61) 694 2675
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2000’s
Legal
Form :
C.V.
(Commanditaire Vennootschap) or partnership with sleeping partner
Company
Reg. No. :
The Ministry of Law and Human Rights
Not
Required
Company
Status :
Private
National Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
None
Capital
Structure :
Owned
Capital :
Rp. 200 million
Owners
:
a. Mr. L. Tobing (Active Partner)
b. Mr. Jay Simarmata (Silent Partner)
Lines of Business :
Trading, Import and Distribution of Fresh Fruits and Peanuts
Production Capacity :
None
Total Investment :
None
Started Operation :
2000’s
Brand Name :
Titan Utama
Technical Assistance
:
None
Number of Employee :
7 persons
Marketing Area :
Local - 100%
Main Customers :
a. Hypermarket,
Supermarkets
b. Fresh Fruits Shops in Medan
Market Situation :
Very Competitive
Main Competitors :
a. C.V. CITRA SUKSES
MANDIRI
b. C.V. ETERNAL GREEN
WOODS
c. P.T. PRABU JAYA
d. C.V. SARANA
KARUNIA SEJAHTERA
e. Etc.
Business
Trend :
Growing
slowly
Banker
:
P.T.
Bank MANDIRI Tbk
Jalan
Medan - Belawan
North
Sumatera
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Board of Management :
Director - Mr. L. Tobing
Board of Commissioners :
None
Signatories :
Director
(Mr. L. Tobing) is only the authorized person to sign the loan on behalf of the
company.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Based on search and investigation the correct address is
registered at Jalan Mujahir No. 90, Belawan, Medan, North Sumatera, not Jalan Tenggiri
No. 7-A, Belawan, Medan, North Sumatera as stated in your order ref. no. 354272
dated 8 December 2015.
C.V. TITAN UTAMA (C.V. TU) was incorporated in Medan,
North Sumatera in 2000’s with the legal status of C.V. (Commanditaire
Vennootschap) or partnership with sleeping partner. The company was founded by
Mr. L. Tobing as active partner and Mr. Jay Simarmata as silent partner. 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. 200 million.
Previously C.V. TU has been in operation since 2000’s in trading, importing and distribution of fresh fruits and peanuts. The merchandise goods including are oranges, apples, grapes, pears, sunkist, and peanuts. Mr. Jay Simarmata, the company's marketing manager, said the products being sold are fresh fruits like pears, apples, oranges, grapes, Sunkist etc., imported by C.V. TU from Thailand, China, Australia and the USA. Meanwhile the peanut (ground nut) is imported from Thailand, China and Vietnam. The company supplies the above products to Supermarket, Hypermarkets and several fruit stores, grocery fruits Medan and surrounding area. The global economic crisis that occurred in October 2008 has brought bad impact to the C.V. TU because of the prices of imported fruits increased dramatically. After that in early 2009 a business importing fruits began to improve due to the improving economic conditions in the country.
We
observe that C.V. TU is classified as a small sized company in the country
dealing with trading, importing and distributor of fresh fruits. However we had
also contacted frequently but there is no pick-up telephone numbers.
We refrain from informing business prospect of C.V. TITAN
UTAMA because of having yet found the complete address up to present. In view
of having yet to be unknown the complete address, the company’s financial
condition is still depends on the financial condition of its shareholders being
supported by the businessmen behind it.
The management of C.V. TU is led by Mr. L. Tobing (55) a
businessman with experience in trading, import and distribution of fresh fruits
and peanuts. The company's management is handled by a number of staff in the
above business. In view of C.V. TITAN UTAMA having yet to be unknown the
complete address, 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.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
IDR |
1 |
Rs. 0.0047 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.