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Report No. : |
311464 |
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Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. KHARISMA SATYA
JAYA |
|
|
|
|
Registered Office : |
TCT
Building, 11th Floor, Suite 3N Jl. M.H. Thamrin No. 81 Jakarta
10310 |
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|
|
|
Country : |
Indonesia
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Date of Incorporation : |
11.01.2012 |
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|
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Com. Reg. No.: |
AHU-04859.AH.01.01.TH.2012 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Export Import and General Trading of Agricultural Products |
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|
|
|
No. of Employees : |
12 |
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 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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, 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 |
BASIC
SEARCH
|
Name
of Company :
P.T.
KHARISMA SATYA JAYA
A
d d r e s s :
Head Office
TCT
Building, 11th Floor, Suite 3N
Jl.
M.H. Thamrin No. 81
Jakarta
10310
Indonesia
Phones -
(62-21) 3199 7190-92, 3199 6256-61
Fax - (62-21) 3199 6257
Email - suresh@ptksj.com
or manjitn@cbn.net.id
Building Area -
33 storey
Building Space -
120 sq. meters
Region - Commercial
Status - Rent
Date
of Incorporation :
11 January 2012
Legal
Form :
P.T. (Perseroan Terbatas) or Limited Liability
Company
Company
Reg. No. :
The Ministry
of Law and Human Rights
No. AHU-04859.AH.01.01.TH.2012
Dated 31 January 2012
Company
Status :
National Private Company
Permit
by the Government Department :
The
Department of Finance
NPWP – Not available
Related/Affiliated
Companies :
a. P.T. AMESH INDAH INTERNATIONAL (Export Import of
Steel and Iron, Chemical, Alumina
Hydrate
and Garment Products)
b. P.T. ISPAK (Export, Import and General Trading)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized Capital -
Rp. 1,000,000,000.-
Issued Capital -
Rp. 750,000,000.-
Paid up Capital -
Rp. 750,000,000.-
Shareholders/Owners
:
a. Mr. Suresh Kishinchand Chandiramani - Rp. 300,000,000.- (40%)
Address : Jl. Merpati Block A-20,
Gunung Sahari, Kemayoran
Jakarta Pusat
Indonesia
b. Mrs. Kharisma Suresh Chandiramani - Rp. 300,000,000.- (40%)
Address : Jl. Merpati Block A-20,
Gunung Sahari,
Kemayoran
Jakarta Pusat
Indonesia
c. Mr. Kishinchand Moolchand
Chandiramani - Rp. 150,000,000.- (20%)
Address :
Jl. Pintu Air Raya No. 38-C
Pasar Baru, Sawah Besar
Jakarta Pusat
Indonesia
BUSINESS
ACTIVITIES
|
Lines
of Business :
Export Import and General Trading of Agricultural
Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
April 2012
Brand
Name :
None
Technical
Assistance :
None
Number
of Employee :
12 persons
Marketing
Area :
Export - 50%
Local - 50%
Main
Customer :
Buyers in India, USA, Japan, Europe union and local
distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. DAKAI IMPEX
b. P.T. PERHUTANI ANUGERAH KIMIA
c. P.T. CHEMINDO INTERBUANA
d. P.T. MAKRO CHEMINDO
e. P.T. SANICHEM TUNGGAL PERTIWI
Business
Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B
a n k e r :
STANDARD CHARTERED Bank
Wisma Standard Chartered Bank
Jalan Jend. Sudirman No. 33 A
Jakarta Pusat
Indonesia
Auditor
:
Internal Auditor
Litigation
:
No litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
2012 – Rp.
2.4 billion
2013 – Rp.
6.8 billion
2014 – Rp. 17.5 billion
Net
Profit (estimated) :
2012 – Rp. 110 million
2013 – Rp. 370 million
2014 – Rp. 950 million
Payment
Manner :
Fairly
Financial
Comments :
Satisfactory
KEY EXECUTIVES
|
Board of Management :
President
Director - Mr.
Suresh Kishichand Chandiramani
Director - Mrs.
Kharisma Suresh Chandiramani
Board of Commissioner:
Commissioner - Mr.
Kishinchand Moolchand Chandiramani
Signatories :
President
Director (Mr. Suresh Kishinchand Chandiramani) or the Director (Mrs. Kharisma Suresh
Chandiramani) which must be approved by board of commissioner
CAPABILITIES
|
Management Capability :
G o o d
Business Morality :
G o o d
OVERALL PERFORMANCE
|
P.T. KHARISMA SATYA JAYA (P.T. KSJ) was incorporated in Jakarta based on
notary deed of Titiek Irawati Sugianto, SH., No. 9 dated 11 January 2012 with
an authorized capital of Rp. 1,000,000,000.- of which Rp. 750,000,000.- was
issued and fully paid up. The founding
shareholders of the company are Mr. Suresh Kishinchand Chandiramani (40%), his
wife Mrs. Kharisma Suresh Chandiramani (40%) and his father Mr. Kishinchand
Moolchand Chandiramani (20%). They are
Indonesian businessmen/woman of Indian descent. The company notary act was approved by the
Ministry of Law and Human Rights in its Decision Letter No.
AHU-04859.AH.01.01.Tahun 2012 dated 31 January 2012. Since then, no changes have
been effected in term of its shareholding composition and capital structures to
date.
We observe that the founder and the majority share owner of
the company namely Mr. Suresh Kishinchand Chandiramani,is also the founder and
the majority business stake owner of P.T. AMESH INDAH INTERNATIONAL dealing
with export import of steel and iron, chemical, alumina hydrate and garment
products and P.T. ISPAK (import, export and general trading).
Pursuant to the company’s notary deed, P.T.
KSJ engaged to operate in trading, import-export, distribution, supplier,
transportation, agriculture, forestry, industry and services. The Company’s registered office located at
Jalan Pintu Air No. 38-C, Central Jakarta and the company can open branch
offices or representative offices at home and abroad. But, we observed that the company’s head
office located at TCT Building, 11th Floor Suite 3N, Jl. M.H.
Thamrin No. 81, Central Jakarta.
P.T.
KSJ has been in operation April 2012 dealing with trading, import-export and
distribution of agricultural products.
The company is specializing in exports of non woods products from Perum
Perhutani, Department of Forestry, the Indonesian government and the products
are gum rosin, gum turpentine oil, oleo pine resin, gum dammar, cum copal, gum
benzoin, guar gum and pine oil. Then, the whole products are exported to India,
the United States of America, Japan and Europe Union. Among other activities, P.T. KSJ is
specialized in developing business between Indonesia and India as indenting
agents. All major manufacturing company
in India and Indonesia are elated with this decision and have pledged full
support to Mr. Suresh K. Chandiramani.
P.T. KSJ has special ties in trading with India and with the respected
Firm of M/s. R.R. Mewani & Company, Mumbai, have always been their
consultants and correspondents in that country.
Besides, the company also imported of pharmaceutical raw
materials, steel and aluminum products, dyes, chemicals, hand tools, builder
hardware, bicycle and automotive components and parts. The whole products supplied to construction companies,
pharmaceutical companies, steel making companies, bicycle and automotive
companies and others in the country. We
observed that P.T. KSJ is classified as a medium sized company of its kind in
the country of which the operation has been growing in the last three years.
Generally, local demand for agricultural
products, spices, gum rosin and turpentine had been increasing by 7% to 8% on
the average per annum having close relation with the rapid growth of various
industrial sectors such as paint industries, adhesive industries and other in
the above period as consumers. In the
coming years, the growth rate of demand is estimated at about 6% to 7% per
annum. The present market situation for agricultural products is very
competitive for a large number of similar companies operating in the country.
Meanwhile, competition is quite heavy in the export import of spices with many
companies now doing business in this field in Indonesia. We consider P.T. KSJ
to be in a quite favorable position for having already got hold of a steady
clientele in the country and abroad.
Until this time P.T. KSJ has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. The
management of P.T. KSJ is very reclusive towards outsiders and rejected to disclose
its financial condition. We estimated
that total sales turnover of the company in 2012 amounted of Rp. 2.4 billion
and increased to Rp. 6.8 billion in 2013 and rose again to Rp. 17.5 billion in
2014. The operation in 2014 yielded an
estimated net profit at least Rp. 950 million and the company has an estimated
total asset at Rp. 12.0 billion. It is
projected that total sales turnover of the company will increase at least 8% in
2015. So far, we did not hear that the company having been black listed by the
Central Bank (Bank Indonesia). The company usually pays its debts punctually to
suppliers.
Pursuant to the Company’s notary deed, P.T.
KSJ is headed Mr. Suresh Kishinchand Chandiramani (56) as President
Director. He is a businessman of Indian
origins who experienced for more than 26 years in the field of export-import
and general trading of agricultural products. He is also as president director
of PT. Istana Palapa Kertas (PT. ISPAK).
In his daily activities, he is assisted by his wife Mrs. Kharisma Suresh
Chandiramani (51) as Director. The
company’s management has a wide relation in the realm of the private
businessmen inside and outside the country. Their relation with the government
is fairly good. So far, we have never
heard that the company’s management involved in a dirty business practice or
detrimental cases that settled in the country. The company’s litigation record
is clean and it has not registered with the black list of Bank of Indonesia.
P.T. KSJ is sufficiently fairly good for
business transaction. However, in view of the economic situation in the country
is unstable, we recommend to treat prudently in extending a loan to the
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.57 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.65.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.