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Report No. : |
347001 |
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Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. MAJU SENTOSA SEJAHTERA |
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|
|
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Registered Office : |
Jl. Jatinegara Barat No. 37, RT.001, RW.006, Kel. Balimester, Kec. Jatinegara,
Jakarta Timur 13310 |
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Country : |
Indonesia
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Date of Incorporation : |
13.03.2009 |
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Com. Reg. No.: |
AHU-15902.AH.01.01.Tahun 2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Import and Distribution of
Agricultural Products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
BASIC SEARCH
|
Name of Company :
P.T.
MAJU SENTOSA SEJAHTERA
A d d r e s s :
Head Office
Jl. Jatinegara Barat No. 37, RT.001, RW.006
Kel. Balimester, Kec. Jatinegara
Jakarta Timur 13310
Indonesia
Indonesia
Phone -
(62-21) 819 2567, 819 3092
Fax - (62-21) 819 3093
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
13 March 2009
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
No. AHU-15902.AH.01.01.Tahun 2009
Dated 27 April 2009
Company Status :
National Private Company
Permit by the
Government Department :
The Department of
Finance
Not available
Related Company :
Not available
CAPITAL AND OWNERSHIP
|
Capital Structure
:
Authorized Capital - Rp.
800,000,000.-
Issued Capital - Rp.
200,000,000.-
Paid up Capital - Rp.
200,000,000.-
Shareholders/Owners
:
a.
Mr. Tan Hendra -
Rp. 100,000,000.- (50%)
Address : Jl. Cawang
Baru Tengah No.10
RT.001/RW.009, Jatinegara
Jakarta Timur
Indonesia
b.
Mr. Jonny -
Rp. 100,000,000.- (50%)
Address : Jl. Tanjung
Duren Raya No.125
RT.001, RW.004, Grogol
Petamburan
Jakarta Barat
Indonesia
BUSINESS ACTIVITIES
|
Lines of Business
:
Trading, Export-Import and Distribution of
Agricultural Products
Production
Capacity :
None
Total Investment :
Owned Capital - Rp. 2.5 billion
Started Operation
:
June 2009
Brand Name :
None
Technical
Assistance :
None
Number of Employee
:
10 persons
Marketing Area :
Local - 100%
Main Customers :
a. Traditional markets in Jakarta and its surroundings
b. Supermarkets and Hypermarkets
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
i. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Jatinegara Timur No. 72
Jatinegara, Jakarta Timur
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Jatinegara Timur No. 58
Jatinegara, Jakarta Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
|
Total
Sales/Turnover (estimated) :
2012 – Rp. 15.3 billion
2013 – Rp. 17.0 billion
2014 – Rp. 18.5 billion
2015 – Rp. 11.0 billion (January – June)
Net Profit (Loss)
:
2012 – Rp. 1.8 billion
2013 – Rp. 2.0 billion
2014 – Rp. 2.2 billion
2015 – Rp. 1.3 billion (January – June)
Payment Manner :
Average
Financial Comments
:
Fairly strong
KEY EXECUTIVES
|
Board
of Management :
Director - Mr. Tan Hendra
Board
of Commissioners :
Commissioner
- Mr. Jonny
Signatories :
Director
(Mr. Tan Hendra) which must be approved by Board of Commissioner (Mr. Jonny)
CAPABILITIES
|
Management
Capability :
Good
Business
Morality :
Good
OVERALL PERFORMANCE
|
P.T. MAJU SENTOSA SEJAHTERA (P.T. MSS) was established in
Jakarta based on Notary Deed of Stephani Maria Vianney Pagestu, SH., No. 03
dated March 13, 2009 with an authorized capital of Rp. 800,000,000.- of which
Rp. 200,000,000.- was issued and fully
paid up. The founding shareholders of the company are Mr. Tan Hendra (50%) and
his brother Mr. Jonny (50%), both are Indonesian businessmen of Chinese
extraction. The Deed of establishment
has been approved by the Minister of Law and Human Rights through its Decision
Letter No. AHU-15902.AH.01.01.Tahun 2009 dated April 27, 2009. 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 development, trading, industry, land transportation, agriculture and services. The company registered office located at Jl. Jatinegara Barat No. 37, RT.001, RW.006, Kelurahan Balimester, Kecamatan Jatinegara, East Jakarta and the company can open branch offices or representative offices at home and abroad.
P.T. MSS has been in operation since June
2009 in trading, import and distribution of agricultural products. Mr. Tan Hendra, director and owner of the
company explained that the whole agricultural products like peanuts or
groundnut, green beans, soybeans, etc, are imported from India and China. Then, the whole products supplied to
traditional markets, supermarkets and snack food industries in Jakarta and its
surroundings. Beside, PT. MSS also
dealing with importing services. To
support its operation, P.T. MSS is in cooperation with severing shipping
companies within and outside the country. We observed that P.T. MSS is
classified as a small-sized company of its kind in the country of which the
operation has been growing in the last three years.
We have noticed that the demand for
agricultural products had increased some 10% to 11% per annum in the last five
years in line with the growth of industrial manufacturing in the country and
international market. 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
agricultural products with many companies now doing business in this field in
Indonesia. We consider P.T. MSS to be in a quite favorable position for having
already got hold of a steady clientele in the Jakarta and surroundings.
Until this time P.T. MSS has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. P.T. MSS’s management is very reclusive to outsider
and rejecting to disclose its financial condition but we estimated the total
sales turnover of the company in 2012 amounted of Rp. 15.3 billion increased to
Rp. 17.0 billion in 2013 and rose again to Rp. 18.5 billion in 2014. The operation in 2014 yielded an estimated
net profit at least Rp. 2.2 billion and the company has an estimated total
networth at Rp. 3.0 billion. It is
projected that total sales turnover of the company will increase at least 6% in
2015. So far we did not hear that the P.T.
MSS has been black listed by Bank Indonesia (Central Bank) or having
detrimental cases being settled in local district court. The company usually pays its debts punctually
to suppliers.
The management of the company is led by Mr.
Tan Hendra (55) as Director and his brother Mr. Jonny (51) as commissioner,
both are young entrepreneurs which more than 15 years experienced in the field
of trading and supplier of agriculture products especially nuts. The
management, which is evaluated quite creative and dynamic, also has succeeded
in expanding their overseas marketing network. We consider the management is
quite capable of further developing business in the future. They have close
relations with many high-ranking government officials as well as with private
businessmen within and outside the country. So far, we did not hear that the
company’s management involved in the business malpractices or detrimental cases
that settled in the country.
P.T. MSS is appraised 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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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 |
|
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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.