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Report No. : |
294481 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
HERMANTO SETIAWAN |
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Registered Office : |
Jalan Majapahit No. 47, Kelurahan Tebet, Kecamatan Tebet, |
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Country : |
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Year of Establishments : |
2008 |
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Legal Form : |
Sole
Proprietary Company |
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Line of Business : |
Engaged in trading and distribution of Graphic Art Equipment’s Subject product ranges includes Paper, Printer, Power Plate, Digital Inkjet Printers, UV Flatbeds, Plotters, Laminators, Engravers, Utoh, Mimaki, HP, Kornit, Roland, Royal Sovereign, Sihl, & Stahls |
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No of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Indonesia ECONOMIC OVERVIEW
Indonesia, a vast polyglot
nation, has grown strongly since 2010. 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, and unequal resource distribution among regions. The government
also faces the challenges of quelling labor unrest and reducing fuel subsidies
in the face of high oil prices.
|
Source
: CIA |
HERMANTO SETIAWAN
Head Office
Jalan Majapahit
No. 47
Kelurahan Tebet,
Kecamatan Tebet
Jakarta Selatan,
22471
Indonesia
Phone -
(62-21) 7788 2344
Fax - (62-21) 7788 2144
E-mail - info@hermantosetiawan.esy.es
Website - http://www.hermantosetiawan.esy.es
Building Area - 1 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
2008’s
Sole Proprietary
Company
Not Required
National Private
Company
The Department of
Finance
NPWP No.
02.315.642.2-008.000
None
Capital
Structure :
Capital : Rp.
200 million
Owners :
Mr. Hermanto
Setiawan
Address: Jl. Cipekas No. 28
Kelurahan Silangkap,
Kecamatan Cimanis
Depok, West Java
Indonesia
Lines of Business :
Engaged in trading and distribution of Graphic Art Equipment’s
Product Details
Paper, Printer, Power Plate,
Digital Inkjet Printers, UV Flatbeds, Plotters, Laminators, Engravers, Utoh,
Mimaki, HP, Kornit, Roland, Royal Sovereign, Sihl, & Stahls
Production Capacity :
None
Total Investment :
None
Started Operation :
2008
Brand Name :
Hermanto Setiawan
Technical Assistance :
None
Number of Employee :
6 persons
Marketing Area :
Local - 100%
Main Customer :
Corporate
Market Situation :
Very Competitive
Main Competitors :
UD. CAHAYA PRINTER
Business Trend :
Growing slowly
Banker :
P.T. Bank NEGARA
INDONESIA Tbk
Jalan Prof. Dr.
Soepomo No. 26
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2012 – Rp. 2.9
billion
2013 – Rp. 3.2
billion
2014 – Rp. 3.5
billion
Net Profit
(estimated) :
2012 – Rp. 200
million
2013 – Rp. 220
million
2014 – Rp. 250
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Hermanto Setiawan
Sales & Marketing Manager -
Mr. Fahmi Wibowo
Board of Commissioners :
None
Signatories :
Director (Mr. Hermanto
Wibowo) is only the authorized person to sign the loan on behalf of the
company.
Management Capability :
Satisfactory
Business Morality :
Doubtful
HERMANTO SETIAWAN (HS) is a sole proprietary company established in
Jakarta in 2008’s by Mr. Hermanto Setiawan an indigenous businessman. Being as
Sole Proprietary Company, the amount of its capital is not mentioned at the
time of its establishment. We estimated HS has own capital of Rp. 200 million
and it will be rising in line with the progress of its business operation.
HERMANTO SETIAWAN (HS) is a sole proprietary company has been operating
since 2008 dealing with trading and distribution of graphic art equipment’s. HS
is a graphic arts industry since 2008, Hermanto Setiawan continues to be a
dynamic force in providing inkjet printing equipment, supplies, and superior
service for today's sign making professional. The company expansive line of
digital inkjet printers, UV flatbeds, plotters, laminators, and engravers allow
our customers to make sensible decisions in choosing equipment that meets their
specific needs and budget. The company offer a state-of-the-art demo and
training facility with all the latest in inkjet printing and digital media
technology. Hermanto Setiawan represents only the most popular brands in
digital equipment and inkjet supplies, such as Mutoh, Mimaki, HP, Kornit,
Roland, Royal Sovereign, Sihl, Stahls, SEAL, Epson, Canon and more. The whole
products supplied to various corporate, stores and shops in Jakarta and
surrounding. HS is a small sized company of its kinds in the country with
operation has been growing slowly in the last three years.
The demand for graphic arts has kept on rising in the last five years in
line with the growth and developed of various industries as customers. Entering
the new years, Indonesia’s economic prospects remain positive, which was driven
by domestic consumption, positive investment climate, as well as the
acceleration of infrastructure development. Going forward, increasing
purchasing power and increasing the number of middle income residents will be a
key driver for industry sector growth. By considering the above factors, the
future strategic priorities that will be implemented by the Company, among others,
are to strengthen the Company’s product presence in the community by
strengthening the distribution network to expand the availability and presence
of products, online sales, products design and development that is more
desirable to the market, online sales, and promotion through social media
networks.
The World Bank estimates Indonesia’s economic growth in 2014 by 5.3%,
slightly lower than the Indonesia’s economic growth in 2013 of 5.7%.
Indonesia’s Central Bank projected economic growth in 2014 to reach 5.7%.
Source of pressure on the Indonesian economy, among others, are economic
slowing down in developing countries, slowing down in the investment rate, and
the fuel subsidy burden.
Until this time HS 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. 2.9 billion
increased to Rp. 3.2 billion in 2013 rose to Rp. 3.5 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. 250 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 HS is headed by Mr. Hermanto Setiawan (48) a
businessman with experience in trading and distribution of graphic arts
equipments. The company's management is handled by a number of staff in the
above business. They have wide relations with private businessmen in 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.
Considering HERMANTO SETIAWAN’s operation is classified small sized and grow
with slowly we recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
UK Pound |
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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.