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Report No. : |
339939 |
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Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
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Name : |
PD.
RUPA JAYA TEXTILE |
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Registered Office : |
Jl. Mangga Dua Raya Ruko Textile, Block E-1 No.12-A
Mangga Dua Selatan, Sawah Besar district Jakarta Pusat 10730 |
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Country : |
Indonesia |
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Date of Incorporation : |
2000 |
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Legal Form : |
P.D. (Perusahaan Dagang) or Sole Proprietorship |
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Line of Business : |
Trading and Distribution of Textile Products. |
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No. of Employee : |
8 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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) |
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Indonesia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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 |
PD. RUPA JAYA TEXTILE
Head Office
Jl. Mangga Dua Raya Ruko Textile, Block E-1 No.12-A
Mangga Dua Selatan, Sawah Besar district
Jakarta Pusat 10730
Indonesia
Phone -
(62-21) 6014234, 6014243, 6014245
Fax - (62-21) 6016058
Building Area - 3 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Owned
2000’s
P.D. (Perusahaan Dagang) or Sole Proprietorship
Not required
Private Company
The Department of Finance
Not available
Not available
CAPITAL
AND OWNERSHIP
|
Capital Structure :
Owned Capital - Rp. 500 million
Founder and Owner :
Mr. Mohan H. Dodani - 100%
BUSINESS
ACTIVITIES
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Lines of Business :
Trading and Distribution of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2000
Brand Name :
Rupa Jaya Textiles
Technical Assistance :
None
Number of Employee :
8 persons
Marketing Area :
Local - 100%
Main Customers :
Tailor made, textile trader and shops in Jakarta and surroundings
Market Situation :
Very Competitive
Main Competitors :
a. DUNIA LARIS
b. GANESHA JAYA
c. MAJU JAYA Toko
d. RANI TEX, Etc
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
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B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Mall Mangga
Dua, Ground Floor No. 25A
Jl. Mangga Dua Raya
Jakarta
Utara
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Mall Mangga Dua Blok No. 12A
Jl. Mangga Dua Raya
Jakarta
Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
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Annual Sales (estimated) :
2011 – Rp. 15.5 billion
2012 – Rp. 18.3 billion
2013 – Rp. 21.0 billion
2014 – Rp. 24.0 billion
2015 – Rp. 13.5 billion (January – June)
Net Profit (estimated) :
2011 – Rp. 0.9 billion
2012 – Rp. 1.4 billion
2013 – Rp. 1.6 billion
2014 – Rp. 1.8 billion
2015 – Rp. 1.0 billion (January – June)
Payment Manner :
Average
Financial Comments :
Fairly
KEY
EXECUTIVES
|
Board of Management :
Director - Mr. Mohan H. Dodani
Board of Commissioners :
Member -
None
Signatories :
Director (Mr. Mohan H. Dodani) is only
the authorized person to sign the loan on behalf of the company.
CAPABILITIES
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Management Capability :
Fairly good
Business Morality :
Fairly good
OVERALL
PERFORMANCE
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P.D. RUPA JAYA TEXTILES was incorporated in Jakarta in 2000’s with the
legal status of P.D. (Perusahaan Dagang) or Sole Proprietorship. The founding owner of the company is Mr.
Mohan H. Dodani, an Indonesian businessman of Indian descent. As in common in cases of companies with sole
proprietorship or Partnership with sleeping partner, there is no mention in the
company’s notary act of its capital structure.
But going by the company’s conditions, we estimate its capital at some
Rp. 800 million. But we have strong
reason to believe that the capital invested in the company is now much bigger.
P.D. RUPA JAYA
TEXTILES known by its trading style “RUPA JAYA” has been operating since 2000
dealing with the trading and distribution of textile products. The Company’s office and shop located at Jl.
Mangga Dua Raya, Ruko Textile, Block E-1 No.12A, Mangga Dua Selatan, Sawah
Besar district, Central Jakarta 10730, Indonesia. According information the retails sells of
various textile products for woman, lady’s and man’s with various types among
others are denims, clothes, polyester and cotton fabrics, silk and wool
fabrics, garments and others. Mr.
Vasandani, a marketing staff of the company explained that some of the textile
products mostly import from China, India, Korea (90%) and the rest for locals
(10%). The whole products sold through
tailor made, trader and shops and individuals in Jakarta and surroundings. We
observe that “RUPA JAYA” is a small size company of its kinds which its
operation has been growing slowly in the last one year.
Generally, the demand for textile products such as polyester cotton
& rayon yarns, polyester staple fiber and others tended to be fluctuating
within the last five years in line with the fluctuating of Indonesian textile
industry in general. According to the
Central Bureau of Statistics (BPS) the Indonesia textile products export in 2002
amounted to 1,425.9 tons (US$ 3,075.9 million) to 1,307.5 tons (US$ 3,064.6
million) in 2003 to 1,300.4 tons (US$ 3,354.6 million) in 2004 to 1,427.3 tons
(US$ 3,704.0 million) in 2005 to 1,477.800 tons (US$ 3,908.6 million) in 2006
to 1,473.6 tons (US$ 4,178.0 million) in 2007 and declined to 1,312,200 tons
(US$ 4,127.9 million) in 2008.
The Indonesia textile products export in 2009 was raised again to
1,369,600 tons (US$ 3,602.8 million) to 1,525,900 tons (US$ 4,721.8 million) in
2010 declined to 1,493,3000 tons (US$ 5,563.3 million) in 2011 rose again to
1,508,500 tons (US$ 5,278.1 million) in 2012 to 1,633.1 thousand tons (US$
5,293.6 million) in 2013 and to 1,815.6 thousand tons (US$ 5,379.9 million) in
2014. The export volume and value of the national TPT products in 2002 to as of
January 2015 are pictured on the following table.
|
Year |
Textile Products
|
Garment |
||
|
(Thousand Ton) |
(US$ Million) |
(Thousand Ton) |
(US$ Million) |
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015* |
1,425.9 1,307.5 1,300.4 1,427.3 1,477.8 1,473.6 1,312.2 1,369.6 1,525.9 1,493.3 1,508.5 1,633.1 1,815.6 153.0 |
3,075.9 3,064.6 3,354.6 3,704.0 3,908.6 4,178.0 4,127.9 3,602.8 4,721.8 5,563.3 5,278.1 5,293.6 5,379.9 421.6 |
333.1 339.9 327.3 369.5 399.6 399.8 417.6 393.4 445.2 450.9 450.2 470.2 463.9 35.4 |
3,887.2 4,037.9 4,351.9 4,967.0 5,608.1 5,712.9 6,092.2 5,735.6 6,598.0 7,801.5 7,304.8 7,501.0 7,450.9 594.5 |
Central Bureau of Statistic and *) as of January 2015
Until this time RUPA JAYA has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of RUPA JAYA is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that the sales turnover of the
company in 2012 amounted to Rp. 18.3 billion increased to Rp. 21.0 billion in
2013 rose again to Rp. 24.0 billion in 2014 and projected to go on rising by at
least 8% in 2015. The operation in 2014 yielded an estimated net profit at
least Rp. 1.8 billion and the company has an estimated total net-worth at least
of Rp. 8.0 billion. So far, we have not heard that the company having been
black listed by the Central Bank (Bank Indonesia) or involved in the civil case
that settled through the country court.
The company usually pays its debts punctually to suppliers.
The management of RUPA JAYA is led by Mr. Mohan H. Dodani (45) a
businessman with more than 15 years experienced in trading, import and
distribution of textile 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.
PD. RUPA JAYA TEXTILE is appraised to be good for business
transaction. However, in view of the
economic condition in the country is still unstable and slowdown, we recommend
to treat prudently in extending any new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
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|
1 |
Rs.102.29 |
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Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
-- |
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.