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Report No. : |
330690 |
|
Report Date : |
15.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOKO DIRGAHAYU |
|
|
|
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Registered Office : |
Pusat Grosir Tekstil Block C3 No. 22, Jalan Arteri Mangga Dua, Jakarta Utara, 14430 |
|
|
|
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Country : |
Indonesia
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|
|
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Date of Incorporation : |
1988 |
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|
|
|
Legal Form : |
Sole Proprietary Company |
|
|
|
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Line of Business : |
Trading and
Distribution of Textile Products |
|
|
|
|
No. of Employees : |
40 |
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 |
|
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 |
BASIC
SEARCH
|
Name
of Company :
TOKO DIRGAHAYU
A
d d r e s s :
Head Office
Pusat
Grosir Tekstil Block C3 No. 22
Jalan
Arteri Mangga Dua
Jakarta
Utara, 14430
Indonesia
Phones -
(62-21) 6017904 (Hunting)
Fax - (62-21) 6018518
Building Area - 4 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
1988’s
Legal
Form :
Sole
Proprietary Company
Company
Reg. No. :
Not
Required
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
None
CAPITAL
AND OWNERSHIP
|
Capital
Structure :
Owned
Capital :
Rp. 1.0 billion
Owner
:
Mr. Tir Lok
BUSINESS
ACTIVITIES
|
Lines of Business :
Trading and
Distribution of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1988
Brand Name :
Toko Dirgahayu
Technical Assistance
:
None
Number of Employee :
40 persons
Marketing Area :
Local - 100%
Main Customer :
Individual and Tailor
Market Situation :
Very Competitive
Main Competitors :
a. DUNIA LARIS
b. GANESHA JAYA
c. RANI TEX
d. PD. SURYA AGUNG
e. Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
|
B
a n k e r :
P.T.
Bank CENTRAL ASIA Tbk
Pusat Grosir Tekstil Mangga Dua
Jalan Arteri Mangga Dua
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
|
FINANCIAL FIGURE |
Annual
Sales (estimated) :
2012
– Rp. 15.0 billion
2013
– Rp. 16.8 billion
2014
– Rp. 17.4 billion
Net
Profit (estimated) :
2012
– Rp. 1.3 billion
2013
– Rp. 1.4 billion
2014
– Rp. 1.5 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY
EXECUTIVES
|
Board of Management :
Director - Mr. Tir Lok
Board of Commissioners :
None
Signatories :
Director (Mr.
Tir Lok) is only the authorized person to sign the loan on behalf of the
company.
CAPABILITIES
|
Management Capability :
Satisfactory
Business Morality :
Satisfactory
OVERALL
PERFORMANCE
|
Toko DIRGAHAYU is a sole proprietary company which established
in Jakarta in 1988’s by Mr. Tir Lok (65)
an Indonesian businessman of Indian descent. The company’s authorized capital
is not announced in it’s of establishment. In general, the company with status
of sole proprietary company shall increase its capital continuously together
with its business development. We estimated that Toko DIRGAHAYU has capital
about Rp. 1.0 billion.
Toko DIRGAHAYU has been operating since 1988’s dealing
with trading, distribution and retails of textile products. The retails shops
located at Pusat Grosir Textile Block C3 No. 22, Jalan Arteri Mangga Dua, North
Jakarta, a big and the largest textile trading centre in Jakarta. According
information the company sells of various textile products for woman, lady’s and
man’s with various types among others are georgette, tile fabrics, satin,
brocade, apparel fabric, chiffon fabrics, cotton fabrics, jute fabrics and silk
fabrics by using various brands. Mr. Tir Lok director and owner of the company
went on to say some of the textile products mostly import from China, India,
South Korea and the rest for locals especially from Bandung, West Java. The
whole products sold through tailor made, trader and shops and others in Jakarta
and surroundings. We observe that Toko DIRGAHAYU is a small size company of its
kinds which its operation has been growing slowly in the last three years.
In overall views we find the demand for textile products
especially lady’s menswear has kept on rising 6% to 8% per annum in the last
five years. The sharp growth of the demand was in line with the progress
achieved in textile products locals markets. The demand growth is estimated to
continually rising by 6% over the next five years. Market competition is very
sharp considering many other similar companies operating in the country. Toko
DIRGAHAYU in this case is in a sufficiently fairly good business position in
view of the company has controlled a wide marketing network in Jakarta and
surroundings.
Until this time Toko DIRGAHAYU 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. 15.0 billion
increased to Rp. 16.8 billion in 2013 rose to Rp. 17.4 billion in 2014 and
projected to go on rising by at least 5% in 2015. The operation in 2014 yielded
an estimated net profit of at least Rp. 1.5 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 Toko DIRGAHAYU is led by Mr. Tir Lok
(67) a businessman with experience in trading, import and distribution of
textile products. The company's management is handled by professional 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. We are convinced Toko
DIRGAHAYU is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.98.20 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.