MIRA INFORM REPORT

 

 

Report No. :

320726

Report Date :

11.05.2015

 

IDENTIFICATION DETAILS

 

Name :

P.T. MAGNA TARA

 

 

Registered Office :

Jalan Raya Dayeuhkolot No. 341 D, Citeureup, Dayeuhkolot, Bandung, 40257

West Java

 

 

Country :

Indonesia

 

 

Date of Incorporation :

22.10.2013

 

 

Com. Reg. No.:

AHU-12195.AH.01.01.TH.2014

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

General Trading, Development, Industry, Transportation

 

 

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 :

Yet to commence business operations

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

 

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

Company summary

 

P.T. MAGNA TARA

 

Address :

Registered Office

Jalan Raya Dayeuhkolot No. 341 D

Citeureup, Dayeuhkolot

Bandung, 40257

West Java

Indonesia

Phones             - (62-24) Not Enrolled

Fax                   - (62-24) Not Enrolled

Building Area    - 2 storey

Office Space    - None

Region              - Commercial

Status               - Rent

 

Date of Incorporation :

22 October 2013

 

Legal Form :

P.T. (Perseroan Terbatas) or Limited Liability Company

 

Company Reg. No. :

The Ministry of Law and Human Rights

No. AHU-12195.AH.01.01.TH.2014

Dated 27 March 2014

 

Company Status :

National Private Company

 

Permit by the Government Department :

The Department of Finance

NPWP Not Available

 

Related Company :

P.T. MAHASURYA TARA (Investment Holding)

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                           : Rp. 10,000,000,000.-

Issued Capital                                 : Rp.   2,500,000,000.-

Paid up Capital                               : Rp.   2,500,000,000.-

 

Shareholders/Owners :

a. Mr. Mulyadi Widiapraja                                                 - Rp. 2,475,000,000.-

    Address : Jl. Siliwangi , RT. 003 RW. 001

                    Kelurahan Manggahang, Kecamatan

                    Baleendah, Bandung, West Java

                    Indonesia

b. P.T. MAHASURYA TARA                                               - Rp.      25,000,000.-

    Address : Jl. Raya Dayeuhkolot No. 341 D

                    Citeureup, Dayeuhkolot

                    Bandung, West Java

                    Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

General Trading, Development, Industry, Transportation

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

2016 (Planned)

 

Brand Name :

Magna Tara

 

Technical Assistance :

None

 

Number of Employee :

Unknown

 

Marketing Area :

Local       - 100%

 

Main Customer :

No Comment

 

 

 

Market Situation :

No Comment

 

Main Competitors :

None

 

Business Trend :

No Comment

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

Unknown

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

None

 

Net Profit (estimated) :

None

 

Payment Manner :

No Comment

 

Financial Comments :

Weak

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                          - Mr. Mulyadi Widiapraja

 

Board of Commissioners :

Commissioner                                 - Mrs. Michelle Felicia

 

Signatories :

Director (Mr. Mulyadi Widiapraja) which must be approved by Board of Commissioner

 

 

CAPABILITIES

 

Management Capability :

Satisfactory

 

Business Morality :

Satisfactory

 

Credit Risk :

Very High

 

Credit Recommendation :

Not qualified for credit assessment

 

Proposed Credit Limit :

Deposit or Advance Payments

 

Maximum Credit Limit :

No comment

 

 

OVERALL PERFORMANCE

 

Based on investigation through above address Jalan Raya Dayeuhkolot No. 341 D, Citeureup, Dayeuhkolot, Bandung, West Java was not found. Besides, according information, the Subject has yet been enrolled on TELKOM Information Bandung.

 

P.T. MAGNA TARA (P.T. MT) was established in Bandung, West Java based on notary deed of Mrs. Fetty Siti Savitri, SH., no. 07 dated 22 October 2013 with an authorized capital of Rp. 10,000,000,000 issued capital of Rp. 2,500,000,000 entirely paid up. The founding and shareholders of the company are Mr. Mulyadi Widiapraja (99%) and P.T. MAHASURYA TARA (1%). The notary deed of incorporation was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-12195.AH.01.01.TH.2014 dated March 27, 2014.

 

P.T. MT is a national private company plans its activity to be engaged in the field of general trading, developed, industry, transportation. Pursuant to notary documents the company address is registered at Jalan Raya Dayeuhkolot no. 341 D, Citeureup, Dayeuhkolot, Bandung, West Java. Besides, according to notary documents, P.T. MAGNA TARA dealing with general trading, export import of agricultural commodities, industry, general contracting, trading and supplies, plantation, hatchery, land clearing, garment and textile industry, freight forwarding services, custom clearance, logistic services, custom brokerage services, trading and distribution, export import services, industry, manufacturing, general trading such as trading of technical, electrical, mechanical goods, and building material, and acting as supplier, distributor, wholesaler and agent of the companies both inside or outside the country. We didn’t know the complete line of business of P.T. MAGNA TARA due to the complete address of the company was not found.

 

We refrain from informing business prospect of P.T. MT 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 Rp. 2,500,000,000. 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. MT is led by Mr. Mulyadi Widiapraja (55) as director and Mrs. Michelle Felicia (23) 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. MAGNA TARA 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

UK Pound

1

Rs.99.04

Euro

1

Rs.71.76

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.