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Report No. : |
351457 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PD. JV EXIM |
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|
|
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Registered Office : |
ITC Cempaka Mas Office Tower 7th Floor, Office No. 17, Jalan Letjend. R. Suprapto, Jakarta Pusat, 10640 |
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|
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Country : |
Indonesia
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Date of Incorporation : |
2005 |
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|
|
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Legal Form : |
Sole
Proprietary Company |
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|
|
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Line of Business : |
Trading and
Exporter of Agriculture Commodities Products |
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|
|
|
No. of Employees : |
17 |
RATING & COMMENTS
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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 |
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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 |
|
Very High |
C1 |
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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 |
BASIC SEARCH
|
Name
of Company :
PD.
JV EXIM
A
d d r e s s :
Head Office
ITC
Cempaka Mas Office Tower 7th Floor, Office No. 17
Jalan
Letjend. R. Suprapto
Jakarta
Pusat, 10640
Indonesia
Phones -
(62-21) 4288 7643
Fax - (62-21) 4288 7653
E-mail - jv.exim@yahoo.com
Website - http://www.jvexim.com
Building Area - 8 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2005
Legal
Form :
Sole
Proprietary Company
Company
Reg. No. :
Not
Required
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
None
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Owned
Capital :
Rp. 300 million
Owner
:
Mr. Jay Sharma
BUSINESS ACTIVITIES
|
Lines of Business :
Trading and Exporter of
Agriculture Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2005
Brand Name :
JV Exim
Technical Assistance
:
None
Number of Employee :
17 persons
Marketing Area :
Export -
100%
Main Customer :
Buyers in India,
Pakistan, Bangladesh, Afghanistan, etc
Market Situation :
Very Competitive
Main Competitors :
a. PD. DAMAR BUMI
b. CV. DAMAR JAYA
c. C.V. GUM INDO
EXPORT
d. C.V. MATAHARI
MERKUSI
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B
a n k e r :
P.T.
Bank MANDIRI Tbk
Jalan
Letjend. Suprapto No. 20
Jakarta
Pusat
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
2012
– Rp. 4.0 billion
2013
– Rp. 4.6 billion
2014
– Rp. 5.0 billion
Net
Profit (estimated) :
2012
– Rp. 240 million
2013
– Rp. 276 million
2014
– Rp. 300 million
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
|
Board of Management :
Director
- Mr. Jay Sharma
Manager -
Mr. Jeetu Sharma
Board of Commissioners :
None
Signatories :
Director
(Mr. Jay Sharma) is only the authorized person to sign the loan on behalf of
the company.
CAPABILITIES
|
Management Capability :
Satisfactory
Business Morality :
Satisfactory
OVERALL PERFORMANCE
|
PD. JV EXIM (PD. JVE) was incorporated in Jakarta in
2005’s with the status of Sole Proprietary Company. The founding and owner of the
company is Mr. Jay Sharma an Indonesian businessman of India extraction. Being as Sole
Proprietary Company, the amount of its authorized capital was not mentioned at
the time of its establishment. We
estimate, PD. JVE has own capital of about Rp. 300 million and it will be
rising in line with the progress of its business operation.
PD. JVE is a sole proprietorship company started with
operating since 2005’s dealing with trading and exporter of agriculture
commodities products. The merchandise goods products are gum copal, gum rosin,
gum dammar, gum copal PWS, gum copal DBB, gum copal WS, gum copal Dust, gum
dammar ABC, gum dammar CD, dammar batu Mumbai, damar batu Calcutta, long
pepper, gum benzoin, cinnamon stick 8 cm - 10 cm and broken cinnamon, cubeb and
others. The whole commodities products obtained from Sumatera, Sulawesi, Java
and other island of Indonesia. Then the whole products exported to various
countries among others are India, Pakistan, Bangladesh, Afghanistan, Middle
East and Eastern Europe, and North America. We observe PD. JVE is classified a
small sized company of its kinds in the country with operation had been grew
with slowly 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 PD. JVE to be in a quite favorable position for having already got
hold of a steady clientele in abroad.
Until this time PD. JVE has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of the company 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. 4.0 billion
increased to Rp. 4.5 billion in 2013 rose to Rp. 5.0 billion in 2014 and
projected to go on rising by at least 4% in 2015. The operation in 2014 yielded
an estimated net profit of at least Rp. 300 million. 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 PD. JVE is led by Mr. Jay Sharma (52) a
businessman and professional manager with experience in trading and exporter of
agriculture commodities products. 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.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared by
: |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>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 |
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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 |
|
|
<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.