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MIRA INFORM REPORT
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Report No. : |
501704 |
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Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. SUMBER ROSO
AGROMAKMUR |
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Registered Office : |
Wisma SMR Ground Floor, Jalan Yos Sudarso Kav. 89, Jakarta Utara, 14350 |
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Country : |
Indonesia |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
16.07.2007 |
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Com. Reg. No.: |
AHU-AH.01.03-0126144 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
a. Trading, Import
and Distribution of Agriculture Commodities Products b. Investment
Holding |
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No. of Employees : |
15 |
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 : |
Good |
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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 :
P.T.
SUMBER ROSO AGROMAKMUR
Address
:
Registered Office
Wisma SMR Ground Floor
Jalan Yos Sudarso Kav. 89
Jakarta
Utara, 14350
Indonesia
Phones -
(62-21) 6503888
Fax -
(62-21) 6503887
E-mail - sb-roso@rad.net.id
Building Area - 16 storey
Office Space - 40 sq. meters
Region - Commercial
Status - Rent
Operational Office
Jalan Raya Bekasi Timur No. 146-148
Jakarta
Timur, 13410
Indonesia
Phones -
(62-21) 8191908 (Hunting)
Fax -
(62-21) 8199386
Mobile Phone - 0811 868797 (Mr.
Haryanto Tjahyadikarta)
Building Area - 2 storey
Office Space - 180 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
16
July 2007
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
- No. AHU-36283.AH.01.01.TH.2009
Dated 30 July 2009
- No. AHU-AH.01.10-06932
Dated 27 February 2013
- No. AHU-AH.01.03-0934652
Dated 26 May 2015
- No. AHU-AH.01.03-0126144
Dated 11 April 2017
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 02.957.694.9-048.000
Related
Companies :
a. P.T. GOLD MARTINDO (Trading and Retails of
Gold and Jewelry)
b. P.T. INDO MEGAH RAYA (Commodity Futures
Trading)
c. C.V. SUMBER ROSO (Trading, Import and Distribution
of Agriculture Commodities Products)
CAPITAL
AND OWNERSHIP
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Capital
Structure :
Authorized
Capital : Rp.
20,000,000,000.-
Issued
Capital :
Rp. 7,000,000,000.-
Paid
up Capital :
Rp. 7,000,000,000.-
Shareholders/Owners
:
a. Mrs. Herawati Halim -
Rp. 6,500,000,000.-
Address : Jl. Raya Bekasi Timur No. 148, RT.
013
RW. 009, Kelurahan Cipoinang
Besar, Keca
matan Jatinegara, Jakarta
Timur
Indonesia
b. Mrs. Yurika Tjahyadikarta -
Rp. 500,000,000.-
Address :
Apartment Bukit Golf Unit 706 B, RT. 005
RW. 015, Kelurahan Pondok
Pinang, Keca
matan Kebayoran Lama,
Jakarta Selatan
Indonesia
BUSINESS
ACTIVITIES
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Lines of Business :
a. Trading,
Import and Distribution of Agriculture Commodities Products
b. Investment
Holding
Production Capacity :
None
Total Investment :
None
Started Operation :
August 2007
Brand Name :
Sumber Roso Agromakmur
Technical Assistance
:
None
Number of Employee :
15 persons
Marketing Area :
Local - 100%
Main Customer :
Traditional Markets
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. ASIA AGROMAS ABADI
b.
ANUGRAH PANGAN
c.
C.V. BUMI DJAJA
d.
UD. JAYA ABADI
e.
Etc
Business
Trend :
Growing
BANKER,
AUDITOR & LITIGATION
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B a n k e r s :
a. P.T. Bank
MANDIRI Tbk
Jalan Jend.
Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
b. P.T. Bank PAN INDONESIA Tbk
Jalan H.R. Rasuna
Said No. 1
Jakarta
Selatan
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL
FIGURE
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Annual
Sales (estimated) :
2015
– Rp. 18.3 billion
2016
– Rp. 19.6 billion
2017
– Rp. 21.2 billion
Net
Profit (estimated) :
2015
– Rp. 1.7 billion
2016
– Rp. 1.9 billion
2017
– Rp. 2.2 billion
Payment
Manner :
Average
Financial
Comments :
Fairly
strong
KEY
EXECUTIVES
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Board of Management :
President Director - Mr. Drs. Mansur Jatim
Director -
Mr. Haryanto Tjahyadikarta
Board of Commissioners :
Commissioner - Mrs. Herawati Halim
Signatories :
President
Director (Mr. Drs. Mansur Jatim) or the Director (Mr. Mr. Haryanto
Tjahyadikarta) which must be approved by Board of Commissioner
CAPABILITIES
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Management Capability :
Good
Business Morality :
Good
OVERALL
PERFORMANCE
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P.T. SUMBER SORO AGROMAKMUR (P.T. SRA) was incorporated
in Jakarta based on notary deed of Mrs. Pudji Irawati, SH., No. 16 dated 16 July
2007 with the authorized capital of Rp. 20,000,000,000 issued capital of Rp.
5,000,000,000 entirely paid up. The company was founded by Mrs. Herawati Halim
(90%) and Mrs. Yurika Tjahyadikarta (10%), both are Indonesian businesswoman of
Chinese origins. The company notary deed has been changed and according to the
revision of notary documents of Mrs. Irma Devita Purnamasari, SH., M.Kn., No.
97 dated 11 February 2013 the company issued capital was increased to Rp.
7,000,000,000 entirely paid up. With this development the composition of its
shareholders has been changed to become Mrs. Herawati Halim (92.86%) and Mrs.
Yurika Tjahyadikarta (7.14%). Lastly based on notary deed Mrs. Irma Devita
Purnamasari, SH., no. 01 dated 3 April 2017 the shareholders approved changed
the board of director and commissioner of the Company. The deed of amendments
was approved by the Ministry of Law and Human Rights in its decision letter
No.AHU-AH.01.03-0126144 dated April 11, 2017.
We observe that Mrs. Herawati Halim and Mrs. Yurika
Tjahyadikarta both are business takes owners of P.T. GOLD MARTINDO engaged in
trading and retails of gold and jewelry and C.V. SUMBER ROSO a private national
company in trading, import and distribution of agriculture commodities
products.
P.T. SRA had been operating since August 2007’s in
trading, importer and distribution of agricultural commodities products. Mr.
Henry, Manager Import of the company explained that the company sells and
distributed of agricultural products such as garlic, black pepper, groundnut,
red onion, green bean, dates, soy bean and legume. He also added the
merchandising goods product like garlic, red onion imported from India and
China; black pepper from India; dates from Egypt; groundnut from India and
Vietnam and legume from China and also soy bean from Vietnam. Mr. Henry went to
say the company has never exported agricultural commodities products overseas.
He also added at present, they import of agricultural commodities products from
India, Vietnam, Egypt and China. Then, the whole product like garlic, ground
nut, black pepper, dates, soy bean marketed locally through traditional market
in Jakarta, West Java and surroundings. Besides, P.T. SRA is also engage in
investment holding by invested funds in company dealing with commodity futures
trading. P.T. SRA holds 99.83% shares of P.T. INDO MEGAH RAYA dealing with
commodity futures trading, We observed that P.T. SRA has been growing 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 P.T. SRA to be in a quite favorable position for having already got
hold of a steady clientele in Jakarta and West Java.
Until this time P.T. SRA has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. SRA is very reclusive towards
outsiders and rejected to disclose its financial condition. We estimated that
total sales turnover of the company in 2015 amounted to Rp. 18.3 billion increased
to Rp. 19.6 billion in 2016 rose to Rp. 21.2 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. 2.2 billion and the company has an estimated total networth of at
least Rp. 15.0 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. SRA is led by Mr. Mansur Jatim
(62) a businessman and professional manager with experience in trading, import
and distribution 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. P.T. SUMBER ROSO AGROMAKMUR is sufficiently fairly
good for business transaction.
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
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NIY |
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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.