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Report No. : |
332416 |
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Report Date : |
25.07.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. BUSINESS INTELLIGENCE TECHNOLOGIES |
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Registered Office : |
Level
14, Tamara Centre, Jl. Jend. Sudirman Kav. 24, Jakarta Selatan 12920 |
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Country : |
Indonesia
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Date of Incorporation : |
12.01.2003 |
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Com. Reg. No.: |
AHU-AH.01.10-12212 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
IT Solution Providing Services |
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No. of Employees : |
18 |
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 : |
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 – 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 |
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 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 |
P.T.
BUSINESS INTELLIGENCE TECHNOLOGIES
Head
Office
Level
14, Tamara Centre,
Jl.
Jend. Sudirman Kav. 24
Jakarta
Selatan 12920
Indonesia
Phones -
(62-21) 252 6660 (hunting)
Fax - (62-21) 252 6655
Email - info@bizintek.com
Website - http://www.bizintek.com
Building Area - 28 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
12 January 2003
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
a. No. AHU-53386.AH.01.02.Tahun 2011
Dated 02 November 2011
b. No. AHU-AH.01.10-12212
Dated 20 March 2014
Foreign Investment Company (PMA)
The Department of
Finance
NPWP No. 02.115.753.2-059.000
a. P.T. MATRAKOM INFOTEK (Software Development Services)
b. P.T. MAYA INTERNATIONAL (IT Consulting Services)
c. P.T. RIAN CONSULTANTS (Management Consulting Services)
Capital Structure :
Authorized Capital -
US$.1,000,000 (Rp. 8,607,000,000)
Issued Capital - US$. 250,000 (Rp. 2,151,750,000)
Paid up Capital - US$. 250,000 (Rp. 2,151,750,000)
Shareholders/Owners :
a. Mr. Natarajan Radhakrisnan - US$. 237,500 (95%)
b. Mrs. Natarajan Bhagyalakshmi - US$. 12,500 (
5%)
Lines of Business
:
IT Solution Providing Services
Production
Capacity :
None
Total Investment :
None
Started Operation
:
February 2003
Brand Name :
Bizintek
Technical
Assistance :
None
Number of Employee
:
18 persons
Marketing Area :
Domestic - 100%
Main Customers :
Corporate and Individual
Market Situation :
Very Competitive
Business Trend :
Growing
Banker :
P.T. Bank SWADESI Tbk.
Pasar Baru Branch
Jl. Samanhudi No. 37
Central Jakarta
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total
Income/Revenues (estimated) :
2012 – Rp. 35.6 billion
2013 – Rp. 40.5 billion
2014 – Rp. 46.0 billion
Net Profit
(estimated) :
2012 – Rp.3.0 billion
2013 – Rp.3.4 billion
2014 – Rp.3.9 billion
Payment Manner :
Average
Financial Comments
:
Fairly
Board of Management :
President Director -
Mr. Natarajan Radhakrisnan
Directors - a. Mrs. Anita Susanti
b. Mr. Gowravaram Navalur Sivaramakhrisna
Board of Commissioner :
Commissioner - Mrs. Natarajan Bhagyalakshmi
Signatories :
President Director (Mr. Natarajan
Radhakrisnan) or one of the Directors (Mrs. Anita Susanti or Mr. Gowrayaram
Navalur Sivaramakhrisna) which must be approved by the Board of Commissioner
(Mrs. Natarajan Bhaygyalakshmi)
Management Capability :
Good
Business Morality :
Good
P.T. BUSINESS INTELLIGENCE TECHNOLOGIES (P.T. BIT) or better known as
trading style “Bizintek” was established in January 2003 in Jakarta. However, we
don’t know the amount of the company’s capital and initial shareholders. Its articles of
association have subsequently been changed for several times. The most recently by Notarial Deed of
Yudianto Hadioetomo, SH., dated March 2014, the authorized capital was raised
to US$ 1,000,000 (Rp.8,607,000,000) of which US$ 250,000 (Rp.2,151,750,000) was
issued and fully paid up. According to
notary deed, the shareholders of the company are Mr. Natarajan Radhakrisnan
(95%) and Mrs. Natarajan Bhagyalakshmi (5%), both are businessman and
businesswoman of India. This amendment to Deed has been approved by the Minister of Law and Human
Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10-12212 dated
March 20, 2014. Since then, no changes
have been effected in term of its shareholding composition and capital
structure to date.
In accordance with article 3 (three) of the articles of association
contained in the deed of establishment, the scope of activities of the Company
is primarily in services, development, trading and industry. The company
registered office located at Level 14, Tamara Centre, Jl. Jendral Sudirman Kav.
24, South Jakarta and the company can open branch offices or representative
offices at home and abroad.
P.T. BIT or “Bizintek” obtained a foreign investment company (PMA)
facility issued by Investment Coordinating Board (BKPM) for dealing with
providing consulting services for IT and Telecommunication sector in
Indonesia. In its activities, P.T. BIT
cooperates with a number of hardware and software companies such as Tally ERP
Accounting and Inventory application from India, Microsoft Dynamics Axapta, and
ZAP is focused on delivering rapidly deployed, business-focused business
intelligence software and solutions. ZAP
focuses primarily on what is needed for rapid uptake and effective use of BI
across the enterprise. In addition P.T. BIT also engaged in business
intelligence and consulting services.
The company provides the tools their customers need to manage and
transform raw business data into insightful business knowledge that is vital
for effective decision-making and overall business transformation.
The company’s consulting services focus on their clients’ most critical
issues and indentified the processes. We
observed that the company’s service has been used by a number of companies such
as PT. Balfour Beatty Sakti, PT. Jasa Medivest, PT. Adaro Indonesia, PT.
Indonesia Bulk Terminal, PT. Terminal Batubara Indah, PT. Penerbit Erlangga,
PT. Sainath Industries, PT. Wigas Santana, PT. General Mineral Resources and
others. In addition, P.T. BIT also
engaged in investment holding by controlling 49% shares of P.T. RIAN
CONSULTANTS. We observed that P.T. BIT
is classified as a medium sized company of its kind in the country of which the
operation had been running smoothly and growing steadily.
Generally, the demand for consulting services for IT and
telecommunication sector in Indonesia has kept on increasing in line with the
growth of various industrial sectors indeed requiring information technology in
the last five years. Beside, the local
demand for personal computers, notebook and gadget had been increasing by 7% to
8% on the average per annum in the last five years having close relation with the
growth of various industrial sectors such as offices, financial sectors
(banking), educational institutions, telecommunications and other industries in
the above period as consumers. Its
projected the demand will be increasing by 4% to 6% in the next two years in
line with the amelioration of the economic condition in the country. However,
the competition is very tight on account of many similar companies operating in
the country. In the future, the
competition is still very tight on account of lots of similar companies
operating in the country.
Until this time P.T. BIT has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of P.T. BIT is very reclusive towards outsiders
and rejected to disclose its financial condition. We estimated that total income or revenues of
the company in 2012 amounted to Rp. 35.6 billion increased to Rp. 40.5 billion
in 2013 rose again to Rp. 46.0 billion in 2014 and projected to go on rising by
at least 6% in 2015. The operation in
2014 yielded an estimated net profit of at least Rp. 3.9 billion and the
company has an estimated total net-worth of at least Rp. 15.0 billion. 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 P.T. BIT is led by Mr. Natarajan Radhakrisnan (48) as
president director and CEO of the company.
In his daily activities, he is assisted by Mrs. Anita Susanti (42) and
Mr. gowravaram Navalur Sivaramakhrisna (40%), both as directors
respectively. The company’s management
has 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.
P.T. BUSINESS INTELLIGENCE TECHNOLOGIES is sufficiently fairly 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 |
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US Dollar |
1 |
Rs.63.89 |
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UK Pound |
1 |
Rs.99.10 |
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Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TRU |
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.