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Report No. : |
356006 |
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Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
C.V. ADITHIYA ANUGRAH
LESTARI |
|
|
|
|
Registered Office : |
Jl.
Rotan Belakang No. 6-7, Petisah Tengah, Medan 20112, North Sumatra |
|
|
|
|
Country : |
Indonesia |
|
|
|
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Year of establishment |
1995 |
|
|
|
|
Legal Form : |
Partnership with Sleeping Partners. |
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|
|
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Line of Business : |
Trading,
Export and Distribution of Gum Rosin and Other Agricultural Products. |
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|
|
|
No. of Employees : |
8 |
RATING & COMMENTS
|
MIRAs 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 |
Name
of Company:
C.V. ADITHIYA ANUGRAH LESTARI
A
d d r e s s :
Head Office
Jl.
Rotan Belakang No. 6-7
Petisah
Tengah, Medan 20112
North
Sumatra
Indonesia
Phone - (62-61) 4521970
Fax. - (62-61) 4521970
Building Area - 2 storey
Office Area -
160 sq. meters
Region -
Commercial
Status -
Owned
Date
of Incorporation :
1995
Legal
Form :
C.V.
(Commanditaire Vennotschaap) or Partnership with sleeping partners
Company
Reg. No. :
The Ministry of Law and Human Rights
Not
required
Company
Status :
National
Private Company
Permits
by the Government Department :
The Department of Finance
Not availlable
Related/Affiliated
Company :
Not
available
Capital
Structure :
Owned Capital - Rp. 1,200,000,000.-
Partners/Owners
:
a. Mr. Melagan (as active partner)
b. Mrs. Pelani (as silent partner)
Lines
of Business :
Trading,
Export and Distribution of Gum Rosin and other agricultural products
Production
Capacity :
None
Total
Investment :
None
Started
Operation:
1995
Brand
Name :
None
Technical
Assistance :
None
Number
of Employee :
8
persons
Marketing Area :
a. Domestic -
10%
b. Export - 90%
Main Customers :
a. Traditional
markets in Medan and its surroundings
b. Overseas buyers
in India, Singapore, Saudi Arabia, Bangladesh, Pakistan and Europe countries
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 :
Growing
B a n k e r s :
a.
P.T. Bank CENTRAL ASIA Tbk
Jl. Ahmad Yani No. 39-A
Waru, Sidoarjo, East Java
Indonesia
b.
P.T. Bank MANDIRI Tbk
Ruko Gateway Blok C-7
Waru, Sidoarjo, East Java
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No detrimental filling was recorded in the local court
Annual
Sales (estimated) :
2012
Rp. 12.4 billion
2013
Rp. 14.0 billion
2014
Rp. 18.0 billion
2015
Rp. 9.8 billion (January June)
Net
Profit (estimated) :
2012
Rp. 1.0 billion
2013
Rp. 1.2 billion
2014
Rp. 1.6 billion
2015
Rp. 0.9 billion (January June)
Payment
Manner :
Average
Financial
Comments :
Fairly
Board of Management :
Director -
Mr. Melagan
Board of Commissioners :
Commissioner - None
Signatories :
Director
(Mr. Melagan) is the only person who is authorized to sign the loan on behalf
of the company
Management Capability :
Good
Business Morality :
Good
C.V. ADITHIYA ANUGRAH LESTARI (C.V. AAL) was
established in Medan (North Sumatra) in 1995 with the legal status of
Commanditaire Vennootschaf (C.V) or partnership with sleeping partner. The founding
owners of C.V. AAL are Mr. Melagan as active partner and his sister Mrs. Palani
as silent partner both are Indonesian businessmen of Indian extraction. Being as a C.V. company, the amount of its
authorized capital was not mentioned at the time of its establishment. We estimated that now C.V. AAL has own
capital of about Rp. 1.5 billion and it will be rising in line with the
progress of its business operation.
C.V. AAL has been
in operation since 1995 dealing with trading and exporting of gum rosin and
turpentine oil. Mrs. Palani, an
administrative staff of the company said that the some 90% of the merchandise
products is exported to India, Singapore, Saudi Arabia, Bangladesh, Pakistan
and Europe countries, while the rest is
locally marketed to various paint industries, adhesive industries and others. In addition C.V. AAL also exports a
number of Indonesian commodities
such as cashew nuts,
pepper and spices. We observed that C.V. AAL is classified as a
small-sized company of its kind in the country of which the operation has been
growing slowly in the last three years.
We have noticed that the demand for gum rosin and
agricultural products had increased some 6% to 8% per annum in the last five
years in line with the growth of paint and coating industries, ceramic
industries, cosmetics industries in the country and international market. In
the coming years, the growth rate of demand is estimated at about 5% to 6% per
annum. The present market situation for
gum rosin and agricultural products is very competitive for a large number of
similar companies operating in the country.
Meanwhile, competition is quite heavy in the export of gum rosin with
many companies now doing business in this field in Indonesia. Business position of C.V. AAL is favorable
for it has controlled a wide marketing network at abroad and their product has
been widely known among consumers in the overseas.
C.V. AAL is neither public listed nor bond issued company. Therefore, the
company has no obligation to publish financial statement publicly. The management of the company is very
reclusive toward outsiders and rejected to disclose its financial
conditions. However, the total sales
turnover of C.V. AAL in 2012 amount to Rp. 12.4 billion increased to Rp. 14.0
billion in 2013 rose again to Rp. 18.0 billion in 2014 and projected to be
rising at least 8% in 2015. The
operation of the company in 2014 is estimated to have gained a profit of Rp.
1.6 billion, with an estimated net-worth of Rp. 8.0 billion. So far, we did not
hear that C.V. AAL having been black listed by Bank Indonesia (Central Bank)
and registered in district court for detrimental cases. The company usually pays its debts punctually
to suppliers.
The management of C.V. AAL is led by Mr. Melagan AKA
Melon (48) sits as director and CEO of the company. He is an Indonesian businessman of Indian
extraction with 20 years experience in trading and distribution of gum rosin
and agricultural products. They have
extensive relationships with many private businessmen at home and abroad as
well as with government sector. So far we have never heard that the board of
directors and commissioners of the company involved in business malpractices or
detrimental cases that settled through the court.
C.V. ADITHIYA ANUGRAH LESTARI is appraised
to be good for business transaction.
However, in view of the economic condition in the country is still
unstable, we recommend to treat prudently in extending any new loan to the
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
IDR |
1 |
Rs.0.0048 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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 SCs
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.