|
Report No. : |
320714 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. DHARTI OFFSHORE |
|
|
|
|
Registered Office : |
Gedung TIFA 5th Floor Suite 503, Jalan Kuningan Barat No. 26, Jakarta Selatan, 12710 |
|
|
|
|
Country : |
Indonesia
|
|
|
|
|
Date of Incorporation : |
February 2006 |
|
|
|
|
Com. Reg. No.: |
AHU-66424.AH.01.02.TH.2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Dredging
Contracting Services |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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. 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.
DHARTI OFFSHORE
A
d d r e s s :
Registered
Office
Gedung
TIFA 5th Floor Suite 503
Jalan
Kuningan Barat No. 26
Jakarta
Selatan, 12710
Indonesia
Phones -
(62-21) Has Moved since 2009
Fax - (62-21) Has Moved
Building Area - 5 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
February
2006
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
No.
AHU-66424.AH.01.02.TH.2008
Dated
19 September 2008
Company
Status :
Foreign
Investment (PMA) Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 02.116.335.7-056.000
Related
Company :
DHARTI
DREDGING AND CONSTRUCTION LTD., India (Dredging Construction and Investment
Holding)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital : US$
2,000,000.-
Issued
Capital :
US$ 750,000.-
Paid
up Capital :
US$ 750,000.-
Shareholders/Owners
:
a. DHARTI DREDGING AND CONSTRUCTION
LTD. - US$ 735,000.-
Address : 6-3-1113/2 DDIL Bhavan
B.S. Maktha, Begumpet, Hyderabad
India
b. Mr. Arun Kumar Singh -
US$ 7,500.-
Address :
Bellary-Karnataka
India
c. Mr. Kantharao Kottisa -
US$ 7,500.-
Address :
Agra-VP
India
BUSINESS ACTIVITIES
|
Lines of Business :
Dredging Contracting
Services
Production Capacity :
None
Total Investment :
None
Started Operation :
2006
Brand Name :
Dharti Offshore
Technical Assistance
:
None
Number of Employee :
Unknown
Marketing Area :
Local - 100%
Main Customer :
Oil and gas
exploration
Market Situation :
Very Competitive
Main
Competitors :
a.
P.T. ADVANCE OFFSHORE SERVICES
b.
P.T. BUDI DHARMA REMAJA
c.
P.T. INDO STRAITS Tbk
d.
P.T. KAYA BAYU ABADI
e.
P.T. KENCANA MAJU SAKTI
Business
Trend :
No
Comment
BANKER, AUDITOR & LITIGATION
|
B
a n k e r :
Unknown
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
None
Net
Profit (estimated) :
None
Payment
Manner :
Unknown
Financial
Comments :
Weak
KEY EXECUTIVES
|
Board of Management :
Director - Mr. Rajendra Akumalla
Board of Commissioners :
Commissioner - Mr. Arun Kumar Singh
Signatories :
Director
(Mr. Rajendra Akumalla) which must be approved by Board of Commissioner
CAPABILITIES
|
Management Capability :
Doubtful
Business Morality :
Prudent
OVERALL PERFORMANCE
|
Based on investigation through above address TIFA
Building 5th Floor Suite 503, Jalan Kuningan Barat No. 26, South Jakarta,
the Subject was not found. However according information from TIFA Building
management (62-21) 520 5452 explained P.T. DHARTI OFFSHORE had been moved since
the end 2009 without given new address and telephone number. We also check
through Ventura Building, Jalan R.A. Kartini No. 26, Cilandak Barat, Cilandak,
Sough Jakarta, also not found.
P.T. DHARTI OFSHORE (P.T. DO) was incorporated in Jakarta
in February 2006 by DHARTI DREDGING AND CONSTRUCTION LTD., of India, Mr. Arun
Kumar Singh and Mr. Kantharao Kottisa both are of India. Its article of
association had been changed and according to revision of notary deed Mr.
Periasman Effendi, SH., no. 10 dated 7 August 2008 the company authorized
capital was amounted at US$ 2,000,000 issued capital of US$ 750,000 entirely
paid up. According to notary documents the composition of its shareholders are
DHARTI DREDGING AND CONSTRUCTION LTD., (98%), Mr. Arun Kumar Singh (1%) and Mr.
Kantharao Kottisa (1%). The deed of amendments was approved by the Ministry of Law
and Human Rights in its decision letter No. AHU-66424.AH.01.02.TH.2008 dated
September 2008.
P.T. DO is a Foreign Investment (PMA) company facility to
be engaged in the field of dredging contracting services. In its operation the
company provides services in marine civil
contractors services or underwater excavation for navigational purpose services
as such as dredging and reclamation; construction of harbour, jetty, breakwater
and offshore protection; construction and lifting work for oil and gas platform
installation; dredging of trenches for laying of pipe line; underwater
construction and mechanical work; fabrication of platform, living quarter, pile
and other structure; installation of offshore production facility and other
services.
According information
from P.T. PUNJ LLYOD INDONESIA, the company collaboration in projects of South
Sumatera West Java Gas Pipeline Project Phase I owned by P.T. PGN (Persero)
Tbk; Tunu Field Development Project Phase 9 owned by TOTAL E&P INDONESIE;
Panaran Pemping Has Project Pipeline Project owned by P.T. PGN (Persero) Tbk
and Backfilling for Tunu Phase 8 Project owned by TOTAL E&P INDONESIE.
However since the end 2009, the company’s complete address was not found and we
are able to make of its further activities.
We refrain from informing business prospect of P.T. DO
because of having yet found the complete address up to present. In view of
having yet to be unknown the complete address, the company’s financial
condition is as much as the company’s issued capital worth US$ 750,000. We find
that the company’s financial condition still depends on the financial condition
of its shareholders being supported by the businessmen behind it.
Based to the company notary deed, the management of P.T.
DO is led by Mr. Rajendra Akumalla (48) as director and Mr. Arun Kumar Singh
(73) as commissioner. The management will eventually be handled by professional
managers having wide relation with overseas and national private businessmen as
well as with the government sectors. In view of P.T. DHARTI OFFSHORE having yet
to be unknown the complete address, we recommend that a high degree of prudence
be observed in business transactions and adequate collateral from its
shareholders be acquired in extending a new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.