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Report No. : |
319156 |
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Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. DHARMA AGRO MAKMUR |
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Registered Office : |
Jl.
Raya Perancis No. 2, Pergudangan Pantai Indah Dadap Blok BH No. 3, Kel. Dadap,
Kec. Kosambing, Tangerang 15211, Banten Province |
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Country : |
Indonesia
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Date of Incorporation : |
07.11.2012 |
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Com. Reg. No.: |
AHU-02782.AH.01.01.Tahun 2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and
Distribution of Agricultural Products |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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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) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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. President Joko WIDODO - elected in
July 2014 - has emphasized domestic economic growth in his first few months in
office and in November 2014 reduced fuel subsidies, a move which could help the
government increase spending on its development priorities. Indonesia, with the
nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
BASIC
SEARCH
|
Name
of Company :
P.T.
DHARMA AGRO MAKMUR
A
d d r e s s :
Head Office
Jl.
Raya Perancis No. 2
Pergudangan
Pantai Indah Dadap Blok BH No. 3
Kel.
Dadap, Kec. Kosambing
Tangerang
15211, Banten Province
Indonesia
Phones -
(62-21) 555 4537
Fax - (62-21) 555 4538
Building Area - 220 sq. meters
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
07
November 2012
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
No. AHU-02782.AH.01.01.Tahun 2013
Dated 28 January 2013
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
NPWP
– not available
Related
Company :
None
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital - Rp.
2,400,000,000.-
Issued
Capital -
Rp. 600,000,000.-
Paid
up Capital -
Rp. 600,000,000.-
Shareholders/Owners
:
a.
Mr. Darma Gani -
Rp. 594,000,000.- (99%)
Address : Villa Taman Bandara B-4 No. 9, RT.002,
RW.009
Kel. Dadap, Kec. Kosambi
Tangerang, Banten
Indonesia
b.
Mr. Kam Ricki -
Rp. 6,000,000.- ( 1%)
Address : Jl. Prepedan, RT.004/W.007
Kel. Kamal, Kec. Kalideres
West Jakarta
Indonesia
BUSINESS ACTIVITIES
|
Lines of Business :
Trading, Import and
Distribution of Agricultural Products
Production Capacity :
None
Total Investment :
Owned Capital - Rp. 600 million
Started Operation :
January 2013
Brand Name :
DAM
Technical Assistance
:
None
Number of Employee :
12 persons
Marketing Area :
Local - 100%
Main Customers:
Traditional Market, Food and Beverages Industries, Agriculture products
Stores, etc
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
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B
a n k e r :
P.T.
Bank CENTRAL ASIA Tbk
Tangerang
Branch
Jl.
Raya Serang Km. 24,5
Balaraja, Tangerang
Banten Province
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
2013
– Rp. 2,800 million
2014
– Rp. 3,400 million
Net
Profit (estimated) :
2013
– Rp. 190 million
2014
– Rp. 230 million
Payment
Manner :
Average
Financial
Comments :
Fairly
KEY EXECUTIVES
|
Board of Management :
Director - Mr. Kam Ricki
Board of Commissioners :
Commissioner - Mr. Darma Gani
Signatories :
Director (Mr.
Kam Ricki) which must be approved by Board of Commissioner (Mr. Darma Gani)
CAPABILITIES
|
Management Capability :
Fairly
Business Morality :
Fairly
OVERALL
PERFORMANCE
|
P.T. DHARMA AGRO MAKMUR (P.T. DAM) was incorporated
in Jakarta based on Notarial Deed of Ida Rosyidah, SH., No. 04 dated 7 November
2012 with the authorized capital of Rp. 2,400,000,000.- of which Rp.
600,000,000.- was issued and fully paid up.
The founding shareholders of the company are Mr. Mr. Darma Gani (99%)
and Mr. Kam Ricki (1%), both are Indonesian businessmen of Chinese
extraction. The Deed of establishment
has been approved by the Minister of Law and Human Rights through Decision
Letter No. AHU-02782.AH.01.01.Tahun 2013 dated 28 January 2013. Since then, no changes have been effected in
term of its shareholding composition and capital structures 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 agriculture, including agro-industry,
agribusiness (trade in agricultural products), the agricultural industry,
industrial food crops, plantation crops and related business activities. The Company’s registered office located on
Jalan Raya Perancis No. 2, Pergudangan Pantai Indah Dadap Blok BH-3, Tangerang,
Banten Province and the company can open branch offices or representative
offices at home and abroad.
We observe that P.T. DAM has been operating
since January 2013 to deal with trading, import and distribution of
agricultural commodities products. Ms.
Yenni, an administrative staff of P.T. DAM explained that the merchandising
goods products including are garlic, ground nuts, dried chilly, pepper, pecans,
peanuts, green beans, shrimp paste, etc.
She also added the agricultural commodities products like garlic and
dried chilly are imported from China, ground nuts, peanuts, green beans from
India. Then, the whole products are
marketed locally through traditional market in Jakarta and its surroundings. We observed that P.T. DAM is still relatively new company in
trading, import and distribution of agricultural products.
We have noticed that the demand for
agricultural products had increased some 8% to 10% per annum in the last five
years in line with the growth of food and beverage industries, biscuit and
snack making industries, etc. 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. P.T. DAR is classified as a new company of
its kind in the country of which the operation has been growing slowly.
The financial condition of the company is appraised
to be less strong and its financial condition at present is as the paid up
capital of Rp. 600,000,000 as stated in the articles of association of the
company. The financial condition of the company still depends on the financial
condition of its shareholders. The
management of P.T. DAR is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company in 2013 amounted to Rp. 2,800 million increased to Rp. 3,400 million in
2014. The operation of company in 2014
yielded an estimated net profit of at least Rp. 230 million and the company has
an estimated total net worth of at least Rp. 1.2 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. DAR is led by Mr. Kam
Ricki (26) as Director. But we believe
that the prime-mover of the company is Mr. Darma Gani (38), a businessman with
more than 10 years experience in trading, import and distribution of
agricultural products. In operation, the
company management is assisted by several experts who are experienced in the
business. 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.
Since this company
(PT. DAR) just about two years in operation commercially, so we recommend
caution when going to provide fresh loans to them. Or it should obtain sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
|
Report Prepared
by : |
TPT |
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 |
|
|
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.