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MIRA INFORM REPORT
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Report No. : |
492440 |
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Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. FAMA RIQUEZA |
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Registered Office : |
Jalan Raya Pondok Aren No. 156,
Kelurahan Pondok Aren, Kecamatan Tangerang Selatan , Tangerang, 15224, Banten
Province |
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Country : |
Indonesia |
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Date of Incorporation : |
25.12.2013 |
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Com. Reg. No.: |
AHU-AH.01.03-0928147 |
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Legal Form : |
P.T. (Perseroan Terbatas) or Limited
Liability Company |
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Line of Business : |
Trading and Distribution of Blank Card, Magnetic Stripe
and Card Printing Services |
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No. of Employees : |
17 |
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 : |
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 |
Company
name and address
Name of Company :
P.T. FAMA RIQUEZA
A d d r e s s :
Head
Office
Jalan Raya Pondok Aren No. 156
Kelurahan Pondok Aren, Kecamatan
Tangerang Selatan
Tangerang, 15224
Banten Province
Indonesia
Phone - (62-21) 2227 2247
Fax - (62-21) 2227 2246
E-mail - admin@famariqueza.com
Website - http://www.famariqueza.com
Building Area - 2 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
25 December 2013
Legal Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No. :
The
Ministry of Law and Human Rights
- No. AHU-04104.AH.01.01.TH.2014
Dated 30 January 2014
- No. AHU-AH.01.03-0928147
Dated 29 April 2015
Company Status :
National Private Company
Permit by the Government Department :
The
Department of Finance
NPWP No. 72.529.895.4-063.000
Related Companies :
a. P.T.
MANUNGGAL SUKSES SEJATI (Printing Services and Investment Holding)
b. P.T.
UNITRAS INVESTAMA SEDAYA (Investment Holding)
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 600,000,000.-
Issued Capital : Rp. 150,000,000.-
Paid up Capital : Rp. 150,000,000.-
Shareholders/Owners :
a.
P.T. MANUNGGAL SUKSES SEJATI -
Rp. 75,000,000.- (50%)
Address : Podomoro City, Ruko Garden Shopping
Arcade Block B/8 DH
Jl. Letjend. S. Parman Kav.
28
Kelurahan Tanjung Duren
Selatan, Kecamatan
Grogol Petamburan, Jakarta
Barat, 11470
b.
P.T. UNITRAS INVESTAMA SEDAYA -
Rp. 75,000,000.- (50%)
Address : Graha Mampang 3rd
Floor
Jl. Mampang Prapatan Raya
No. 100
Kelurahan Tegal Parang,
Kecamatan Mampang
Prapatan, Jakarta Selatan,
12790, Indonesia
BUSINESS
ACTIVITIES
Lines of Business :
Trading and Distribution of Blank Card, Magnetic Stripe and
Card Printing Services
Production Capacity :
None
Total Investment :
None
Started Operation :
2014
Brand Name :
Fama Riqueza
Technical Assistance :
None
Number of Employee :
17 persons
Marketing Area :
Local - 100%
Main Customer :
Banking and financial institutions
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALATBARCODE
b. P.T. ARIAN GUNA MANDIRI
c. C.V. GAFORINDO DECODE SOLUTION
d. P.T. MITRA SEJATI COMINDO
e. P.T. VARUNA ARTHA NUGRAHA
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
B a n k e r s:
a. P.T.
Bank MANDIRI Tbk
Jalan
Mampang Prapatan Raya No. 61
Jakarta
Selatan, Indonesia
b. P.T.
Bank CENTRAL ASIA Tbk
Gedung
Multika
Jalan
Mampang Prapatan Raya 71-73
Jakarta
Selatan, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2015 – Rp. 6.8 billion
2016 – Rp. 7.5 billion
2017 – Rp. 8.8 billion
Net Profit (estimated) :
2015 – Rp. 0.4 billion
2016 – Rp. 0.5 billion
2017 – Rp. 0.6 billion
Payment Manner :
Slow but correct
Financial Comments :
Fairly strong
KEY
EXECUTIVES
Board
of Management :
Director - Mrs.
Desi
Board
of Commissioners :
Commissioner - Mr. Zulfadli
Signatories
:
Director (Mrs. Desi) which must be
approved by Board of Commissioner
CAPABILITIES
Management
Capability :
Fairly
Good
Business
Morality :
Fairly
Good
OVERALL
PERFORMANCE
Based on search and investigation the
correct address of Subject is located at Jalan Raya Pondok Aren No. 156, Pondok
Aren, Tangerang Selatan, Tangerang, Banten Province, not at KCP Mampang Jakarta
as stated in your order ref. no. 492440 dated 14 February 2018.
P.T. FAMA RIQUEZA (P.T. FR) was
established in Jakarta based on notary deed Mrs. Stefanie Hartanto, SH., no. 189
dated 25 December 2013 with an authorized capital of Rp. 600,000,000 issued
capital of Rp. 150,000,000 entirely paid up. The founding shareholders of the
company originally are Mr. Joseph Mikharno and Mr. Sugiharta Gunawan, both are
ethnic-Chinese Indonesian businessmen. The article of association of the
company have been changed and according to revision notary deed Mrs. Stefanie
Hartanto, SH., no. 155 dated 16 April 2015 Mr. Joseph Mikharno and Mr.
Sugiharta Gunawan withdrew and the whole shares taken over by P.T. MANUNGGAL SUKSES SEJATI (50%) and P.T.
UNITRAS INVESTAMA SEDAYA (50%) as new shareholders. The deed of amendments was
approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.03-0928147 dated April 29, 2015.
P.T. FR is a national private company
has been operating in 2014 dealing with trading and distribution of blank card,
magnetic stripe and card printing services. P.T. FR provides card printing
services for various purposes such as banking card, employee id card, or member
card. According information the company produce and provide for printing cards
such as blank cards, magnetic stripe cards, or cards that are only printed
according to the design its clients provide. The company prints directly using
offset printers of the highest quality so that the cards they produce match the
needs of its clients. For both banking and retail clients, P.T. FR also
provides magnetic stripe cards that can be used to control business activities
or electronic payments.
Blank card, keeping in mind
ever-evolving requirements of respected clients, P.T. FR is offering a premium
quality range of Blank Card for any needs of clients with best quality
printing. Magnetic stripe for banking and retail card, they provide magnetic
stripe cards that can be used to control business activities or electronic
payments. In its operation P.T. FR print the cards using the best materials
with the best machines to produce the best printing quality that competes with
companies in similar industries. According information the clients are banking
services, financial institution, insurance, electronic payments system and many
more. P.T. FR is classified a small sized company of its kinds in the country
with operation has been growing slowly in the last three years.
We
note that generally the demand for offset printing services was rising by some
12% to 14% per year in the five years in line with the growing book, newspaper
and tabloid publishing business in the country. The
economy in 2017 is projected to post higher growth; national level this is
expected to result from infrastructure projects, while rebound of commodity
prices will drive improvement at the global level. Government policies will
further boost the economy in next year. The prospective increase in the
interest rate (Fed Funds Rate/FFR) in the United States (US) and the economic
slowdown in China contributed to uncertainty and increased the risk of economic
vulnerability throughout the world. The high volatility of the global economy
throughout 2016 which was triggered by low commodity prices, the European Union
(EU) debt crisis, the British decision to leave the EU block (Brexit), and the
results of the US presidential election put pressure on worldwide economic
activities. Global trade slowed down and the decline in commodity prices became
a major problem for the world economy.
Indonesian economic factors cannot be
detached from China’s economic slowdown and from the low prices of main export
commodities such as oil, coal, and palm oil. As Indonesia’s largest trading
partner, the slowdown in China caused Indonesia’s export values to tumble.
Nevertheless, the government sought to encourage equitable infrastructure
development across Indonesia to stimulate economic growth. However, entering
the second half of 2016, private consumption and investment slowly began to
improve in response to declining interest rates on loans and improving
commodity prices.
Various macro indicators at the end of
2016 showed brighter prospects for 2017 including the property industry.
Government policies which are favorable for the property sector, such as tax
amnesty (TA) which will begin to show its impact in 2017 to boost growth of the
property industry. Rising commodity prices, such as palm oil, petroleum and coal
give new expectations for the property project.
Table of Indonesian Economic Indicators from 2012 to 2016
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Indonesian Economic Indicators |
2012 |
2013 |
2014 |
2015 |
2016 |
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Gross Domestic Product
(PDB) |
6.0 |
5.6 |
5.0 |
4.8 |
5.0 |
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Consumer Price Index |
4.3 |
8.4 |
8.4 |
3.4 |
3.2 |
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Government Debt |
27.3 |
28.7 |
24.7 |
27.0 |
26.5 |
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Exchange Rate (IDR/USD) |
9,419 |
11,563 |
11,800 |
13,400 |
13,300 |
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Current Account Balance |
-2.8 |
-3.3 |
-3.1 |
-2.1 |
-2.1 |
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Population
(in millions) |
247 |
250 |
253 |
255 |
258 |
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Poverty (percentage of population) |
11.7 |
11.5 |
11.0 |
11.1 |
10.9 |
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Unemployment (percentage of workforce) |
6.1 |
6.3 |
5.9 |
5.8 |
5.6 |
|
Reserves (in billion USD) |
112.8 |
99.4 |
111.9 |
105.9 |
111.4 |
Until
this time P.T. FR has not been registered with Indonesian Stock Exchange, so
that they had not obliged to announce their financial statement. The management of P.T. FR 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. 6.8 billion
increased to Rp. 7.5 billion in 2016 rose to Rp. 8.8 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. 0.6 billion. So far, we did not heard
that the company having been black listed by the Central Bank (Bank
The
management of P.T. FR is led by Mrs. Desi (32) a professional manager with
experience in trading, supply and distribution of blank card, magnetic stripe
and card printing services. 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. FAMA RIQUEZA is sufficiently fairly good for
business cooperation.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.81 |
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|
1 |
INR 90.66 |
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Euro |
1 |
INR 79.94 |
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IDR |
1 |
INR 0.0046 |
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 : |
KET |
RATING EXPLANATIONS
|
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.