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Report No. : |
349584 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. NUSA KERAMINDO NIAGA |
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|
|
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Registered Office : |
Jalan Raya Serpong Km. 7, Komplek Multiguna Block B No.
18, Kelurahan Pakualam, Kecamatan Serpong Utara, Tangerang Selatan, 15325,
Banten Province |
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Country : |
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Date of Incorporation : |
22.03.2002 |
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Com. Reg. No.: |
AHU-AH.01.10-33908 |
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Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Trading, Supply
and Distribution of Ceramic Raw Materials |
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No. of Employees : |
21 |
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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|
|
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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 |
|
Moderate |
B1 |
|
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 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 |
Name of
Company :
P.T. NUSA KERAMINDO NIAGA
A d d r e s s
:
Head Office & Warehouse
Jalan Raya
Serpong Km. 7
Komplek Multiguna
Block B No. 18
Kelurahan Pakualam,
Kecamatan Serpong Utara
Tangerang
Selatan, 15325
Banten Province
Indonesia
Phones -
(62-21) 5398035, 53121611
Fax - (62-21) 5398036
E-mail - arms@pacific.net.id
Land Area - 2,000 sq.
meters
Building Space - 500 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation :
22 March 2002
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No.
C-10029.HT.01.01.TH.2002
Dated 7 June 2002
- No. C-26500
HT.01.04.TH.2003
Dated 5 November 2003
- No.
AHU-75823.AH.01.02.TH.2008
Dated 20 October 2008
- No.
AHU-AH.01.10-33908
Dated 20 August 2013
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.238.118.0-415.000
The Department of Industry and Trade
TDP No.
30.03.1.51.05607
Dated 5 November
2003
Related
Company :
P.T. ARTHAFAJAR
MITRAEJATI (Trading and Distribution of Ceramic Equipment)
Capital
Structure :
Authorized
Capital : Rp.
600,000,000.-
Issued Capital : Rp.
210,000,000.-
Paid up Capital : Rp.
210,000,000.-
Shareholders/Owners
:
a. Mr. Ir. James Wiyaka Adiprana - Rp.
209,000,000.-
Address :
Jl. Kelapa Kopyor Barat III Block C-G 1 No. 22
RT. 003 RW.
012, Kelurahan Kelapa Gading
Timur,
Kecamatan Kelapa Gading
Jakarta Utara,
Indonesia
b. Mr. Ir. Yunus HD Rukmana -
Rp. 1,000,000.-
Address : Jl. Kebon Sirih No.
36
Kelurahan
Babakan Ciamis, Kecamatan
Sumur Bandung,
Bandung, West Java
Indonesia
Lines of
Business :
Trading, Supply
and Distribution of Ceramic Raw Materials
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
June 2002
Brand Name :
Nusa Keramindo
Niaga
Technical
Assistance :
None
Number of
Employee :
21 persons
Marketing Area
:
Local - 100%
Main Customer
:
Ceramic
Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ATLANTIC
INTRACO
b. P.T. CAHAYA
ASA KERAMIK
c. P.T. JUSTUS
KIMIA RAYA
d. P.T. KARYA
INSAN MILLENIUM SEJAHTERA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Ruko Alam Sutra
Jalan Sutra Niaga
I No. 39
Serpong,
Tangerang
Banten Province
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2012 – Rp. 23.0
billion
2013 – Rp. 25.0
billion
2014 – Rp. 27.2
billion
Net Profit
(estimated) :
2012 – Rp. 1.4
billion
2013 – Rp. 1.5
billion
2014 – Rp. 1.6
billion
Payment
Manner:
Average
Financial
Comments:
Satisfactory
Board of Management:
Director - Mr. Ir. James Wiyaka
Adiprana
Board of Commissioners:
Commissioner -
Mrs. Ir. Herawaty
Signatories:
Director (Mr. Ir. James
Wiyaka Adiprana) which must be approved by Board of Commissioner
Management Capability:
Good
Business Morality:
Good
Based on search and investigation results the correct name of the
Subject is P.T. NUSA KERAMINDO NIAGA not P.T. NUSA KERAMINDA NIAGA as stated in
your order ref. no. 349584 dated November 6, 2015.
P.T. NUSA KERAMINDO NIAGA (P.T. NKN) was established in Jakarta based on
notary deed Mrs. Yani Indrawaty Wibawa, SH., no. 27 dated 22 March 2002 with an
authorized capital of Rp. 100,000,000 issued capital of Rp. 25,000,000 entirely
paid up. The founding and shareholders of the company are Mr. James Wiyaka
Adiprana and Mrs. Sylvana Justine Adiprana both are Indonesian businessmen of
Chinese extraction. Its article of association had been changed a couple of
times. In September 2008 Mrs. Sylvana Justine Adiprana pulled out and into the
company entered by Mr. Ir. Yunus HD Rukmana as new shareholder. On the same
occasion the company authorized capital was increased to Rp. 600,000,000 issued
capital to Rp. 210,000,000 entirely paid up.
With this time the composition of its shareholders has been changed to
become Mr. Ir. James Wiyaka Adiprana (99.52%) and Mr. Ir. Yunus HD Rukmana
(0.48%). The latest according to revision of notary deed Mrs. Yani Indrawaty
Wibawa, SH., no. 05 dated 9 July 2013 the shareholders approved re-elected the
company board of director and the board of commissioner. So that the latest
revision of notary deed was approved by the Ministry of Law and Human Rights in
its decision letter no. AHU-AH.01.10-33908 dated August 202013.
P.T. NKN is a national private company started with operating since June
2002 dealing with trading, import, supply and distribution of ceramic raw
materials. The merchandise goods products are ceramic chemicals, bricks,
ceramic powders, ceramic stones, ceramic colors, cobalt colors, orange Tio2,
red for body fe based, zirconates and others. According information the whole
products imported from India, Italy, Spain, China and others. According
information the company is an authorized distributor for KEMEOS ceramic cement,
Dalzon Chemicals, Inco Colors India Pvt. Ltd., both of India. Besides, the
company is able to import of ceramic raw materials based on orders basis from
its customers. Mrs. Sulistyawaty, marketing staff of the company explained the
whole products supplied to various ceramic tile industries among others are
P.T. SATYARAYA KERAMINDOINDAH, P.T. HANKOOK CERAMIC INDONESIA, P.T. SANGO
CERAMIC INDONESIA, P.T. INTIKERAMIK ALAMASRI INDUSTRI Tbk, P.T. MULIAKERAMIK
INDAHRAYA, P.T. PLATINUM CERMICS INDUSTRY, P.T. ARWANA CITRAMULIA Tbk, P.T.
GRANITONIGUNA BUILDING CERAMICS, P.T. KERAMIKA INDONESIA ASOSIASI Tbk, P.T.
METROPOLE MEGAH, P.T. SURYA SIAM KERAMIK, and many others. The occurring of the
sharp Rupiah depreciation against the US$ Dollar and economic slowdown has bad
impact on P.T. NKN’s business performance due to the upswing its supported
materials and sharp rise in production cost. We observe the operation of P.T.
NKN has been growing slowly in the last three years.
Based on the forecast from some economists, Indonesia’s economic growth
in 2015 is still challenging. Bank Indonesia has decided to maintain the BI
Rate at 7.75% based on the evaluation of the 2015 economic outlook. This is
also in line with the efforts to steer inflation around 4% by 2015, while
supporting the control of the current account deficit to a more healthy level.
The Rupiah currency is predicted to be in the average range of Rp. 12,500 per
US dollar until mid 2015. Bank Indonesia estimates that Indonesia’s economic
growth will be around 5.4 to 5.8% in 2015. The above conditions indicate that
in general, Indonesia’s economic condition is not growing optimally and mainly
focuses on maintaining economic stability. Indonesia National Budget Plans
2015, the government has predicted the following 2015 global economic
challenges which cover; uncertain global economy triggered by either economic
downturn or economic crisis in many countries; the risk caused by the
fluctuating global commodity prices, especially the raw oil price; commitment
to support the ASEAN Economic Community (AEC); and implementation of the global
development agenda post 2015. Meanwhile, the forecasted 2015 domestic economic
challenges will cover: An increase in the slowing down of economic growth; risk
in the domestic financial market; imbalanced payment balance sheet; and reduced
social gap. This condition potentially impacts both the industry and the market
in which P.T. NKN is engaged. It is estimated that industrial growth equal to
or less compared to the previous year.
Until this time P.T. NKN has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. NKN is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company in 2012 amounted to Rp. 23.0 billion increased to Rp. 25.0 billion in
2013 rose to Rp. 27.2 billion in 2014 and projected to go on rising by at least
5% in 2015. The operation in 2014 yielded an estimated net profit of at least
Rp. 1.6 billion and the company has an estimated total networth of at least Rp.
7.0 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. NKN is led by Mr. Ir. James Wiyaka Adiprana (50)
a businessman and professional manager with experience in trading, import and
distribution of ceramic raw materials. The company's management is handled by
professional staff in the above business. They have 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.
However, in view of the economic slowdown in the country we recommend to treat
prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.