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MIRA INFORM REPORT
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Report No. : |
501705 |
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Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
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Name : |
C.V. PUTRA NUSA |
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Registered Office : |
Office The Eightrium Wahid Hasyim, Jalan K.H. Wahid Hasyim No. 70, Kebon Sirih, Menteng
Jakarta Pusat, 10340 |
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Country : |
Indonesia |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
1970 |
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Legal Form : |
Partnership with Sleeping Partner |
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Line of Business : |
Trading and Distribution of Agriculture
Commodities Products |
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No. of Employees : |
24 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, the largest economy in Southeast Asia, 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. Indonesia’s
annual budget deficit is capped at 3% of GDP, and the Government of Indonesia
lowered its debt-to-GDP ratio from a peak of 100% shortly after the Asian
financial crisis in 1999 to 33% today. While Fitch and Moody's Investors
upgraded Indonesia's credit rating to investment grade in December 2011,
Standard & Poor’s has yet to raise Indonesia’s rating to this status amid
several constraints to foreign direct investment in the country, such as a high
level of protectionism.
Indonesia still struggles with poverty and unemployment, inadequate
infrastructure, corruption, a complex regulatory environment, and unequal
resource distribution among its regions. President Joko WIDODO - elected in
July 2014 – seeks to develop Indonesia’s maritime resources and pursue other
infrastructure development, including significantly increasing its electrical
power generation capacity. Fuel subsidies were significantly reduced in early
2015, a move which has helped the government redirect its spending to
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 has not yet materialized.
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Source
: CIA |
BASIC
SEARCH
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Name
of Company :
C.V.
PUTRA NUSA
Address
:
Head
Office
Office
The Eightrium Wahid Hasyim
Jalan K.H. Wahid Hasyim No. 70
Kebon Sirih, Menteng
Jakarta Pusat, 10340
Indonesia
Phones - (62-21) 392
1552 (Hunting)
Fax - (62-21) 2139 0119
E-mail - cvpn@cbn.net.id
Building Area - 5 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date
of Incorporation :
1970’s
Legal
Form :
C.V. (Commanditaire Vennootschap) or Partnership
with Sleeping Partner
Company
Reg. No. :
The Ministry of Law and Human Rights
Not Required
Company
Status :
National Private Company
Permit
by the Government Department :
The Department of Trade
API No. 2557N (Import License)
Related
Company :
A Member Company of the METRO EXPRESS Group (see
attachment)
CAPITAL
AND OWNERSHIP
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Capital
Structure :
Owned Capital -
Rp. 1.5 billion
Shareholders/Owners
a. Mrs. Villysia
Fransisca Sianandar (Active Partner)
Address : Jl. Kesehatan No. 11
Kelurahan Petojo Selatan, Kecamatan Gambir
Jakarta Pusat, 10160, Indonesia
b. Mr. Witu Sianandar
(Silent Partner)
Address :
Jl. Kesehatan No. 11
Kelurahan Petojo Selatan, Kecamatan Gambir
Jakarta Pusat, 10160, Indonesia
BUSINESS
ACTIVITIES
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Lines
of Business :
Trading and Distribution of Agriculture Commodities
Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1970
Brand
Name :
None
Technical
Assistance :
None
Number
of Employee :
24 persons
Marketing
Area :
a. Domestic (Local) -
75%
b. Export -
25%
Main
Customers :
a. Traditional
markets
b. Food and
Beverages Industries
c. Foodstuff
Stores
d. Wholesalers
and food industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T.
ALPUTRA MULIA
b. P.T. GOLDEN SINAR SAKTI
c. P.T. MAJU JAYA AGRO UTAMA
d. P.T. SUMBER MAKMUR SEJAHTERA ABADI
e. Etc
Business
Trend :
Growing
BANKER,
AUDITOR & LITIGATION
|
B
a n k e r s :
a. P.T. Bank
SHINHAN INDONESIA
Jalan Hayam Wuruk No. 19-20
Jakarta Pusat, 10120
Indonesia
b. P.T. Bank
MANDIRI Tbk
Jalan Hayam Wuruk
Jakarta Pusat
Indonesia
Auditor
:
Internal Auditor
Litigation
:
No litigation record in our database
FINANCIAL
FIGURE
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Annual
Sales (estimated) :
2015 – Rp. 25.0 billion
2016 – Rp. 27.0 billion
2017 – Rp. 29.0 billion
Net
Profit (estimated) :
2015 – Rp. 2.0 billion
2016 – Rp. 2.2 billion
2017 – Rp. 2.5 billion
Payment
Manner :
Average
Financial
Comments :
Fairly strong
KEY
EXECUTIVES
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Board of Management :
Director - Mrs. Villysia Fransisca Sianandar
Board of Commissioner :
Commissioner - Mr. Witu
Sianandar
Signatories :
Director (Mrs.
Villysia Fransisca Sianandar) is the authorized person to sign the loan on
behalf of the company
CAPABILITIES
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Management Capability :
Good
Business Morality :
Good
OVERALL
PERFORMANCE
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C.V. PUTRA NUSA (C.V. PN) was established in the 1970’s
in Jakarta with the legal status of C.V. (Commanditaire Vennootschap) or
Partnership with Sleeping Partner. The founding owners of the company are Mr.
Witu Sianandar and Mr. Tri Sianandar as the active partner and some of his
brothers as silent partners, including Mr. Jan Sianandar, Mr. Djitu Sianandar
and Mr. Kartono Sianandar. They are Indonesian businessmen of Chinese
extraction. However in the end 2014 Mr. Tri Sianandar, Mr. Djitu Sianandar and
Mr. Kartono Sinandar withdrew and the whole shares taken over by Mrs. Villysia
Franssica Sianandar. With this time the owners of the company are Mr. Witu
Sianandar and his daughter Mrs. Villysia Fransisca Sianandar. As in common in
cases of companies with C.V. status, there is no mention in the company’s
notarial act of its capital structure. But going by the company’s conditions,
we estimate its capital at some Rp. 1.5 billion.
Originally, C.V. PUTRA NUSA carried out business in
trading, distributor and importer of plastic material, such as Polypropylene
(PP), polyethylene (PE) and others which are imported from Japan, Korea, USA
and Germany. But its business operation was not running well and finally it was
stopped.
In 1990, C.V. PUTRA NUSA changed its business activities
to trading and importer of agricultural commodities products as, dry chili,
ground-nut, garlic, soybean and coriander. The products are imported from
China, India, Vietnam, Myanmar and coriander from Egypt. Meanwhile, the
agricultural product likes nutmeg, clove, cashew nut, white pepper, coffee,
tea, spices bought from farmer in Sumatra, Sulawesi, Java and others island of
Indonesia. Then, the whole products are exported to Japan, the United States of
America and Europe Union. Besides, some of the products supplied to snack food
industries, foodstuff stores, wholesalers and traditional market in Jakarta,
Surabaya, Lampung and other major cities in the country. Furthermore, it was
explained that C.V. PUTRA NUSA has made business relation as agricultural
supplier for along time with snack food processing, wholesalers, foodstuff
stores and until this time the business relation still tied in with them. We
observed that the company’s operation has been growing 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 C.V. PN to be in a quite favorable position for having already got
hold of a steady clientele in the country and abroad.
Until this time C.V. PN has not been
registered with Indonesian Stock Exchange, so that they had not obliged to
announce their financial statement. The management of C.V. PN is very reclusive
towards outsiders and rejected to disclose its financial condition. We observed
that total sales turnover of the company in 2015 amounted to Rp. 25.0 billion
increased to Rp. 27.0 billion in 2016 rose to Rp. 29.0 billion in 2017 and
projected to go on rising by at least 4% in 2018. The operation in 2017 yielded
an estimated net profit of at least Rp. 2.5 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 company is headed by Mrs. Villysia Fransisca
Sianandar (37) a professional manager with experienced in trading, export
import of agricultural commodities products. She has graduated and holds
Bachelor of Arts in Accounting and Finance from Seattle University, USA, 1998 –
2001. The management also handled by a number of professional staff in the
business. We observed that management’s reputation in said business is fairly
good. 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. C.V. PUTRA NUSA is
sufficiently fairly good for business transaction.
Attachment
List
of the METRO EXPRESS Group Members
1. AGUNG
LESTARI PROPERTINDO, P.T. (Property Development and Management)
2. AMYLUM CORN
GRITS, P.T. (Corn Grits by Raw Material for Chiki Snack Foods)
3. ASIA
TRIOKA, P.T. (General Trading)
4. Bank
SHINHAN INDONESIA, P.T. (Banking Services)
5. BENZINE
INDONESIA PERKASA, P.T. (Petrol and Fuel Oil Station and Marketing)
6. CENTRALPERDANA
PROPERTINDO, P.T. (Property Development and Management)
7. DUNIA
MULIA SEJAHTERA, P.T. (Warehouse Management and Services)
8. HOPAR
PROPERTINDO, P.T. (Property Development)
9. HOPEWELL
PROPERTINDO, P.T. (Property Development)
10. ICON
MENARA SAMUDERA, P.T. (Morrissey Hotels Development and Management)
11. METRO
INTI PURNAMA, P.T. (Animal Feed Mills)
12. METRO
INTI SEJAHTERA, P.T. (Hatchery, Farm DOC)
13. METROPANCA
GEMILANG, P.T. (Investment Holding)
14. METRO
PRIMA INVESTAMA, P.T. (Fuel Oil Station/Gasoline)
15. PANCA
UNGGUL CEMERLANG, P.T. (Fuel Oil Station/gasoline
16. PANEN
BARU, C.V. (Trading and Export of White Pepper, Coffee, Tea and Spices)
17. PUTRA
NUSA, C.V. (Trading, Export Import of Agricultural Commodities Products)
18. SVARNA
KREASINDO, P.T. (Ocha and Bella Restaurant Management Services)
19. SVARNA
MOVINA, P.T. (Movina Restaurant Management Services)
20. WIDYA
SAKTI KUSUMA, P.T. (Animal Feed Supplies)
21. Etc.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.02 |
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|
1 |
INR 91.49 |
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Euro |
1 |
INR 79.79 |
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IDR |
1 |
INR 0.0047 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.