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MIRA INFORM REPORT
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Report No. : |
504432 |
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Report Date : |
24.04.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. NEELAM INTERNATIONAL |
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Registered Office : |
Jalan Bisma Raya Block D1 No. 3A Kelurahan Papanggo, Kecamatan Tanjung
Priok Jakarta Utara, 14350 |
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Country : |
Indonesia |
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Date of Incorporation : |
15.07.2013 |
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Com. Reg. No.: |
AHU-0026849.AH.01.02.TH.2017 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution of Cosmetic |
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No. of Employees : |
21 |
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 : |
Foreign Investment Company |
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Payment Behaviour : |
Slow but Correct |
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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
Name of Company :
P.T. NEELAM INTERNATIONAL
Address :
Head Office
Jalan
Bisma Raya Block D1 No. 3A
Kelurahan
Papanggo, Kecamatan Tanjung Priok
Jakarta
Utara, 14350
Indonesia
Phones - (62-21) 6583 5964, 2961 5169
Fax -
(62-21) 6583 5965
E-mail - info@ptneelam@gmail.com
Mobile
Phone - 0878 8049 0307 (Mr. Rohit
Misra)
Building
Area - 2 storey
Office
Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
15
July 2013
Legal Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and
Human Rights
-
No. AHU-40032.AH.01.01.TH.2013
Dated
23 July 2013
-
No. AHU-0026849.AH.01.02.TH.2017
Dated
19 December 2017
Company Status :
Foreign
Investment (PMA) Company
Permit by the Government Department :
The Department of Finance
NPWP
No. 03.309.330.3-048.000
Related Company :
None
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized
Capital : Rp. 2,988,000,000.-
Issued
Capital : Rp.
2,988,000,000.-
Paid
up Capital : Rp.
2,988,000,000.-
Shareholders/Owners :
a. Mr. Rohit Misra -
Rp. 2,218,590,000.-
Address : 74B,
Praful Nagar, Sumim Nagar
Vastral Road, Ahmedabad, India
b. Mrs. Dewi Nirmala -
Rp. 739,530,000.-
Address :
Jl. Raya Dukuh Kupang 64
Kelurahan Dukuh Kupang, Kecamatan Dukuh
Pakis, Surabaya, 60225, East Java, Indonesia
c. Mr. Rahul Misra -
Rp. 29,880,000.-
Address :
74B, Praful Nagar, Sumim Nagar
Vastral Road, Ahmedabad, India
BUSINESS
ACTIVITIES
Lines of Business :
Trading,
Import and Distribution of Cosmetic
Production Capacity :
None
Total Investment :
None
Started Operation :
August
2013
Brand Name :
AMINS
Burgundy, VI-John brands
Technical Assistance :
None
Number of Employee :
21
persons
Marketing Area :
Local - 100%
Main Customer :
Trader
and shops
Market Situation :
Very
Competitive
Main Competitors :
a.
P.T. ASIA PARAMITA INDAH
b.
P.T. CAKRA DAYA MAKMUR
c.
P.T. ECO LIVING
d.
P.T. ARES REVCO
e.
P.T. KOSMETIKA SETIA INDONESIA
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
Bankers:
a. P.T. Bank Of INDIA INDONESIA Tbk
Jalan Samanhudi No. 37
Pasar Baru, Sawah Besar
Jakarta Pusat, Indonesia
b. P.T. Bank SBI INDONESIA
Gedung Graha Mandiri, 11th,
15th & 24th Floor
Jalan Imam Bonjol No. 61
Jakarta Pusat, Indonesia
Auditor :
Internal
Auditor
Litigation :
No
litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2015
– Rp. 19.0 billion
2016
– Rp. 21.0 billion
2017
– Rp. 23.6 billion
Net Profit (estimated) :
2015
– Rp. 1.1 billion
2016
– Rp. 1.3 billion
2017
– Rp. 1.5 billion
Payment Manner :
Slow but Correct
Financial Comments :
Fairly
strong
KEY
EXECUTIVES
Board of Management :
Director -
Mr. Rohit Misra
Board of Commissioners :
Commissioner -
Mrs. Dewi Nirmala
Signatories :
Director (Mr. Rohit Misra) which must be approved by
Board of Commissioner
CAPABILITIES
Management Capability :
Fairly Good
Business Morality :
Fairly Good
OVERALL
PERFORMANCE
P.T. NEELAM INTERNATIONAL (P.T. NI) was established in Jakarta based
on notary deed Mrs. Ida Waty Salim, SH., no. 404 dated 15 July 2013 with the
authorized capital of Rp. 2,988,000,000 wholly issued and paid up. The founding
and shareholders of the company are Mr. Rohit Misra and Mr. Rahul Misra, both
are businessmen of India. Its article of association of the company have been
changed and according to revision notary deed Mrs. Wahyuni Asih, SH., no. 07
dated 15 December 2017 Mrs. Dewi Nirmala of Indonesia entered into the company
as new shareholder. With this time the composition of its shareholders has been
changed to become Mr. Rohit Misra (74.25%), Mrs. Dewi Nirmala (24.75%) and Mr.
Rahul Misra (1.00%). The deed of amendments was approved by the Ministry of Law
and Human Rights in its decision letter No. AHU-0026849.AH.01.02.TH.2017 dated
December 19, 2017.
P.T. NI is a Foreign Investment (PMA) company facility dealing
with trading, import, supply and distribution of cosmetics products. The
company has been commenced operation in August 2013 by sells and distributes of
perfumery, cosmetic, toilet preparation; preparation for use on the hair; and
body lotions.
The
type of products are AMINS Burgundy Powder Hair, AMINS Brown Powder Hair Dye,
AMINS Black Powder Hair Dye, AMINS Chestnut Powder Hair Dye, VI-JOHN Ameerah
Herbo Kajal, VI-JOHN Feather Touch Hair Removal Cream For Dry Skin (Lime),
VI-JOHN Feather Touch Hair Removal Cream For Normal Skin, VI-JOHN Feather Touch
Hair Removal Cream For Normal Skin and VI-JOHN Feather Touch Hair Removal Cream
For Sensitive Skin Saffron and Honey.
According information the whole products imported through ABHINAV
EXPORT CORPORATION of India. Mrs. Dewi Nirmala, Commissioner of the company
explained the whole products marketed locally through trader and shop of
cosmetic in Jakarta and other cities in the country. We observe P.T. NI is
classified a medium sized company of its kinds in the country with operation
has been growing and developing well in the last three years.
Indonesia’s projected economic growth in 2017 does not look much
different from the economic growth rate in 2016. This reflects improvement,
although the process is slow. The economic recovery phase is expected to
continue, mainly supported by the improvement in the performance of exports,
and investment which starts to improve, supported by the development in
financing, in the form of bank loans as well as non-bank financing. The
estimated inflation, which does not differ much compared to the condition in
2016, is not expected to have an impact on consumer purchasing power and as the
result, the growth in household consumption is expected to be relatively
stable. In terms of regulation, the Government will implement the compulsory
Halal certification for cosmetic products marketed in Indonesia.
The Indonesian market, with positive population growth and a
steadily increasing productive-age population number, certainly looks
attractive to the producers. With more than 7 years of experience in Indonesia
and the implementation of “with the consumers and for the consumers” value, the
Company is confident of being able to understand the desire and needs of
consumers and actualize it in products with added value which can provide
consumer satisfaction.
Until this time P.T. NI has not been registered with Indonesian
Stock Exchange, so that they had not obliged to announce their financial
statement. The management of P.T. NI 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. 19.0 billion increased to Rp.
21.0 billion in 2016 rose to Rp. 23.6 billion in 2017 and projected to go on
rising by at least 5% in 2018. The operation in 2017 yielded an estimated net
profit of at least Rp. 1.5 billion and the company has an estimated total
networth of at least Rp. 5.0 billion. We observe that P.T. NI is supported by
foreign partner with has financially strong and sound behind it. 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. NI is led by Mr. Rohit Misra (31) a
businessman and professional manager of India with experience in trading,
import, supply and distribution of cosmetics 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. NEELAM INTERNATIONAL 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 66.22 |
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1 |
INR 92.84 |
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Euro |
1 |
INR 81.27 |
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IDR |
1 |
INR 0.0048 |
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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PRI |
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Report Prepared
by : |
TRU |
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.