|
Report No. : |
351460 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. SIWALI SWANTIKA |
|
|
|
|
Registered Office : |
Artha Gading Niaga Block C No. 20, Jalan Boulevard Artha Gading, Kelapa Gading Timur, Kelapa Gading, Jakarta Utara, 14240 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
03.12.1998 |
|
|
|
|
Com. Reg. No.: |
AHU-AH.01-10-37371 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading
and Distribution of Electronic Testing Measurement. |
|
|
|
|
No. of Employees : |
28 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. SIWALI SWANTIKA
A
d d r e s s :
Head
Office
Artha
Gading Niaga Block C No. 20
Jalan
Boulevard Artha Gading
Kelapa
Gading Timur, Kelapa Gading
Jakarta
Utara, 14240
Indonesia
Phones -
(62-21) 4585 0618, 452 5931
Fax - (62-21) 4585 0619
E-mail - siwali@cbn.net.id
Website - http://www.siwali.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Branch
Office
Jalan
Tenggilis Mejoyo No. 7 Block AI No. 43
Surabaya,
60292
East
Java
Indonesia
Phones -
(62-31) 842 1278, 842 1264
Fax - (62-31) 842 1304
Building Area - 2 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
3
December 1998
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The
Ministry of Law and Human Rights
- No. C-6601 HT.01.01.TH.99
Dated 9 April 1999
- No. AHU-46235.AH.01.02.TH.2008
Dated 29 July 2008
- No. AHU-AH.01-10-37371
Dated 21 November 2011
Company
Status :
National
Private Company
Permit
by the Government Department :
The
Department of Finance
NPWP
No. 01.660.156.9-046.000
The
Department of Industry and Trade
TDP
No. 090215219772
Dated
6 October 1999
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
2,000,000,000.-
Issued
Capital :
Rp. 2,000,000,000.-
Paid
up Capital :
Rp. 2,000,000,000.-
Shareholders/Owners
:
a.
Mr. Farid Yusran -
Rp. 960,000,000.-
Address : Jl.
Gading Elok Utara III FY 2/14, RT. 008 RW.
013, Kelurahan Kelapa Gading Timur, Kecama
tan Kelapa Gading, Jakarta Utara
Indonesia
b.
Mr. Jun Susanto -
Rp. 640,000,000.-
Address :
Jl. Gunung Rinjani 11 Lippo Cikarang
Kelurahan Cibatu, Kecamatan Lemahabang
Bekasi, West Java
Indonesia
c.
Mr. Sudianto Wijaya -
Rp. 400,000,000.-
Address :
Kepa Duri Permai 23
Kelurahan Duri Kepa, Kecamatan Kebon
Jeruk, Jakarta Barat
Indonesia
Lines
of Business :
Trading
and Distribution of Electronic Testing Measurement
Production
Capacity :
None
Total Investment :
None
Started Operation :
1999
Brand Name :
Siwali Swantika
Technical Assistance
:
None
Number of Employee :
28 persons
Marketing Area :
Local - 100%
Main Customer :
Industrial
manufacturing
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CALTESYS
INDONESIA
b. P.T. COLLINDAH
LANGGENG
c. P.T. DUTA
INSTRUMENT ALFA SAKTI
d. P.T. ELDEPE
KALIBRASI INSTRUMENINDO
e. P.T. FAMED
CALIBRATION
Business Trend :
Growing
B
a n k e r :
P.T.
Bank CENTRAL ASIA Tbk
Jalan
Boulevard Artha Gading Selatan No. 1
Jakarta
Utara
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2012
– Rp. 22.0 billion
2013
– Rp. 24.3 billion
2014
– Rp. 26.0 billion
Net
Profit (estimated) :
2012
– Rp. 1.3 billion
2013
– Rp. 1.4 billion
2014
– Rp. 1.6 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director -
Mr. Farid Yusran
Board of Commissioners :
Commissioner - Mr. Suprapto Wijaya
Signatories :
Director (Mr. Farid Yusran) which must be approved
by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. SIWALI SWANTIKA (P.T. SS) was established in Jakarta
based on notary deed Mrs. Siti Pertiwi Henny Singgih, SH., no. 10 dated 3
December 1998 with an authorized capital of Rp. 1,000,000,000 issued capital of
Rp. 250,000,000 entirely paid up. The founding and shareholders of the company
are Mr. Farid Yusran and Mr. Jun Susanto, both are Indonesian businessmen of
Chinese extraction. Its article of association had been changed and according
to revision of notary deed in June 2008 Mr. Sudianto Wijaya entered into the
company as new shareholders. On the same occasion the company authorized
capital was increased to Rp. 2,000,000,000 entirely issued and paid up. With
this development the composition of its shareholders has been changed to become
Mr. Farid Yusran (48%), Mr. Jun Susanto (32%) and Mr. Sudianto Wijaya (20%).
The latest according to revision of notary deed Mrs. Meigawati Gunawan, SH.,
no. 11 dated 7 October 2011 the company board of director and the board of
commissioner had been changed. The deed of amendments was approved by the
Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-37371
dated November 21, 2011.
P.T. SS is a national private company started with
operating since 1999 dealing with trading, supply and distribution of
electronic testing measurements and test equipment. The company provides test
measurement solution, inspection services, repairs and calibration services.
Calibration Laboratory of P.T. SS is nationally accredited by "Komite
Akreditasi Nasional" (KAN) with certificate number LK-133-IDN since 2010.
Calibration process, procedures and database system integrated in computerized.
This method will minimized human error in run calibration procedures, collect
data, analysis, reported and maintenance it fully automatic. To expand its
markets the product variants, P.T. SS have been establishing partnership with
various famous test measurement manufacturers in the world.
The merchandise goods products are Accessories, Battery Analyzer, Calibration Bath, Clamp Meter, Climatic Chamber, CO2 Measurement Tools, Data Center Monitoring Tools, Datacom Cabling, Data Logger, Deadweight Tester, Dew Point Mirror, Digital Thermometer, Distance Meter, Electrical Calibrator, Electrical Standard, Electrical Tester, EMC Tester, Environmental Tester, Force Gauge, Gas Analyzer, Ground Tester, Hardness Tester, High Voltage Tester, Humidity Calibrator, Humidity Probe, Humidity Temperature Transmitter, Humidity Tester, HVAC Tester, Infrared Calibrator, Infrared Thermometer, Insulation Tester, ITS-90 Temperature Standard, Leak Detector, mA Loop Calibrator, Microhmmeter, Multifunction Process Calibrator, Multimeter, Network Analyzer, Piston Gauge, Portable Oscilloscope, Power and Energy Measurement, Power Quality, Pressure Calibrator, Pressure Gauge, Pressure Test Pump, PT100-RTD-Themocouple-Thermistor, Safety Tester, Temperature Calibrator, Thermal Imager, Thermometer Readout, Thickness Gauge, Ultrasound Detector, Vibration Tester, Viscometer, Viscosity Bath, Wire Tracer, Water Activity Meter, etc.
According information the whole products imported from
USA, Europe, Japan, South Korea and others by using various brands among others
are Additel (Pressure Calibration); AKCP (Environmental Monitoring); CTRL
System (Ultrasound Solution); Fluke Calibration (Calibration Equipment); Fluke
Industrial (Industrial Test Tools); Fluke Networks (Troubleshooting -
Monitoring); Graphtec (midi Logger); Kambic (Climatic Chamber/Hygroscopic
Test); Mahr (Universal Length Measuring Instrument); Radian Research (Watthour
Reference Standard); RH System (Chilled Hygrometer/Hygroscopic Test); Rotronic
(Humidity & Water Activity); Seaward (High Volt Testing); Teseq (EMC
Testing) and Vitrek (Hipot Tester).
The whole products marketed locally to various industrial
manufacturing such as water treatment contracting, chemical & petrochemical
industries, pharmaceutical industries, and others in Jakarta, Surabaya, etc. We
observe the operation of P.T. SS has been growing and developing well 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. SS is engaged. It is estimated that
industrial growth equal to or less compared to the previous
year.
Until this time P.T. SS has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. SS 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. 22.0 billion
increased to Rp. 24.2 billion in 2013 rose to Rp. 26.0 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. 5.0 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. SS is led by Mr. Farid Yusran (51)
a businessman with experience in trading, supply and distribution of electronic
testing measurement equipment. 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.
P.T. SIWALI SWANTIKA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.