|
|
|
MIRA INFORM REPORT
|
Report No. : |
503244 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PT. PLANT LIPIDS INDONESIA |
|
|
|
|
Registered Office : |
Green Sedayu Bizpark Blok GS 7/31, Jl. Cakung Cilincing Raya Timur KM 2, Kelurahan Cakung Timur, Kecamatan Cakung, Kota Jakarta Timur 13910 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
12.04.2016 |
|
|
|
|
Com. Reg. No.: |
No. AHU-0018760.AH.01.01.Tahun 2016 |
|
|
|
|
Legal Form : |
Private Limited Liability Company or Perseroan Terbatas (PT) |
|
|
|
|
Line of Business : |
· Wholesale trade, except of motor vehicles and motorcycles · Other specialized wholesale · Wholesale of chemical products |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
COMPANY
IDENTIFICATION
|
|
Company Name |
PT. PLANT LIPIDS INDONESIA |
|
Address |
Green Sedayu
Bizpark Blok GS 7/31, Jl. Cakung Cilincing Raya Timur KM 2 |
|
Telephone |
N.A. |
|
Fax |
N.A. |
|
Mobile Phone |
N.A. |
|
Email |
N.A. |
|
Web |
N.A. |
PROFILE
|
|
Address |
Green Sedayu Bizpark Blok GS 7/31, Jl.
Cakung Cilincing Raya Timur KM 2 |
||||
|
Office Building |
|
||||
|
Date of Establishment |
|
||||
|
Start Operation |
N.A. |
||||
|
Legal Status |
Private Limited Liability Company or Perseroan Terbatas (PT) |
||||
|
Legalization (historical) |
No.
AHU-0018760.AH.01.01.Tahun 2016 |
||||
|
Government Permit (s) |
N.A. |
||||
|
Significant change |
PT. Plant Lipids Indonesia (the Company) was established on April 12,
2016, in East Jakarta with the authorized capital of IDR 11,880
million, with issued and paid-up capital of IDR 3,300 million. The
structure of shareholder were Plant Lipids UK Limited of UK (95.000 %)
and Mr. John George Nechupadom (5.000 %). Plant Lipids UK Limited of UK is a subsidiary of Plant Lipids (P)
Limited of India, a company engaged as the producer of spice extracts,
essential oils and natural food colors. |
||||
|
Capitalization |
|
SHAREHOLDERS
& MANAGEMENT
|
|
Shareholders |
Total No. of Shareholders: 2 |
||||
|
Name of Shareholders |
|
||||
|
|
|
||||
|
Management Board |
|||||
|
Name |
Mr. Ashish Kumar Daruka |
||||
|
Position |
Director |
||||
|
Nationality |
Indian |
||||
|
Supervisory Board |
|||||
|
|
|
||||
|
Name |
Mr. John George Nechupadom |
||||
|
Position |
Commissioner |
||||
|
Nationality |
Indian |
||||
|
Management Assessment |
The management is deemed to have sufficient experience and industry expertise
to manage subject properly. |
||||
|
Authorized Signatories |
Mr. Ashish Kumar Daruka as Director of the Company which must be
approved by shareholder meeting. |
||||
|
Affiliate (s) / Associate (s) |
|
KEY
DATA ON OPERATIONS
|
|
Registered Activities |
SIC Code 46 : Wholesale trade, except of motor vehicles and
motorcycles |
|||
|
Employee |
N.A. |
|||
|
Business Category |
SIC Code 46.7 : Other specialized wholesale |
|||
|
Line of Business |
SIC Code 46.75 : Wholesale of chemical products |
|||
|
Product & Capacity |
N.A. |
|||
|
Status of Investment |
Foreign-invested Company |
|||
|
Sales Territory |
Local |
00% |
||
|
International |
00% |
|||
|
Main Items Imported |
Essential Oil |
India |
||
|
Main Items Exported |
- |
- |
||
|
Major Customers |
N.A. |
|||
|
Major Supplier |
|
|||
|
Terms of Payment |
Purchase Payment |
|||
|
Activity Comment |
For information, we have tried to find the Company's contact through
various sources on the internet as well as search in Telkom Contact Center,
but none of the Company's numbers are registered. So we provide the report
based on legality and another source from internet. PT. Plant Lipids Indonesia (the Company)
is foreign-invested company that is located in Green Sedayu Bizpark Blok
GS 7/31, Jl. Cakung Cilincing Raya Timur KM 2, Kelurahan Cakung Timur,
Kecamatan Cakung, Kota Jakarta Timur 13910, DKI Jakarta - Indonesia. We could
not make sure that the location is the head office of the Company. But, we
could make sure that the location is the registered address of the Company or
not. Based on the collected information, the Company is engaged in the
wholesale of spice essential oils produced by Plant Lipids (P) Limited
of India for distribution in Indonesia. However, until now we have been unable to contact the Company, so we
can not provide detailed information related to the Company's operation since
its establishment up to the second quarter 2018. |
|||
|
Litigation |
At the time this report is written, this Company has not been involved
in any criminal or civil cases. This statement is based on a result of search
for cases conducted at the State Court in the area where the Company was
established and operates today. |
|||
BANKING
INFORMATION
|
|
Banker (s) |
N.A. |
|
|
Insurance |
N.A. |
BUSINESS
PROSPECTS
|
|
Business Prospects |
According to Zion Market Research, global demand for essential oil market
was valued at around USD 5.50 billion in 2014 and is expected to reach around
USD 9.80 billion in 2020, growing at a CAGR of approximately 9% between 2015
and 2020. In terms of volume, the global essential oil market stood at
160.0-kilo tons in 2014. Worldpanel said Indonesia's revenue growth rate of fast moving
consumer goods (FMCG) compared to Southeast Asian countries is the highest,
with an increase of 8.3%. Fast-moving consumer goods (FMCG) industry in Indonesia is considered
one of the most attractive industries with a sales value of more than USD 10
billion. With more than 255 million inhabitants and more than half of them in
productive age, this positive trend is expected to continue as growth rates
grow by 11.8% in the period 2010-2015 and the average growth of the FMCG
retail industry reached 10.8% on by 2015. Overall, FMCG's products have
successfully contributed 18.5% to national GDP by 2016; and this figure is
expected to reach 30% by 2030. Based on the above data, FMCG industry is still quite prospective
considering the growth of Indonesian population. Based on the above information shows that the essential oil business
has a bright prospect due to the increasing demand in line with the
fast-growing consumer goods industry. |
FINANCIAL
STATEMENT
|
|
Sales Turn Over |
N.A. |
|
Total Assets |
As the Company is not a publicly listed company, we are unable to give
a detailed picture of the financial condition of the Company. |
|
Other Financial Data |
As the Company is not a publicly listed company, we are unable to
provide details on the financial condition of the Company. |
CREDITWORTHINESS
|
|
Management Capability |
Undetermined |
|
Business Morality |
Adequate |
|
Payment Manner |
Unknown |
|
Financial Condition |
Undetermined |
|
Operating Trend |
Undetermined |
|
Conclusive remarks |
Based on the information shown above, we learned that the Company is
engaged in the wholesale of spice essential oils produced by Plant Lipids (P)
Limited of India for distribution in Indonesia. However, until now we are
unable to contact the Company directly so we can not provide detailed
information related to the Company's operations up to this second
quarter 2018. For security reason, nevertheless, we advise those wishing to make
cooperation with and to grant loans to the Company to ask for strong
collaterals from the owners and management. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.61 |
|
|
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
|
IDR |
1 |
INR 0.0048 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.