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MIRA INFORM REPORT
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Report No. : |
482810 |
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Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. JWALA ENERGI RESOURCES |
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Registered Office : |
Menara
Prima 15th Floor Unit J, Jalan Lingkar Mega Kuningan Block 6.2,
Mega Kuningan Timur, Setiabudi, Jakarta Selatan, 12950 |
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Country : |
Indonesia |
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Date of Incorporation : |
24.02.2012 |
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Com. Reg. No.: |
AHU-19068.AH.01.01.TH.2012 |
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Legal Form : |
P.T.
(Perseroan Terbatas) or Limited Liability Company |
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Line of Business : |
Coal Trader and
Exporter |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Foreign investment company |
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Payment Behaviour : |
Unknown |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 less than 27 percent 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 |
Name
of Company
P.T.
JWALA ENERGI RESOURCES
Address
Registered Office
Menara
Prima 15th Floor Unit J
Jalan
Lingkar Mega Kuningan Block 6.2
Mega
Kuningan Timur, Setiabudi
Jakarta
Selatan, 12950
Indonesia
Phones - (62-21) 5794 8235-36
Fax - (62-21) 5794 8234
E-mail - info@jwala.com
Website - http://www.jwala.com
Building Area - 32 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Company
summary
Date of Incorporation :
24
February 2012
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
No.
AHU-19068.AH.01.01.TH.2012
Dated
16 April 2012
Company
Status :
Foreign
Investment (PMA) Company
Permit
by the Government Department :
The Department of Finance
Not
Available
Related
Company :
P.T.
INDOWANA BARA MINING COAL (Coal Mining)
CAPITAL
AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
5,392,800,000.-
Issued
Capital :
Rp. 2,696,400,000.-
Paid
up Capital :
Rp. 2,696,400,000.-
Shareholders/Owners
:
a. KUCOM RESOURCES PTE, LTD. - Rp.
1,887,480,000.-
Address : 150 South Bridge Road No. 02-14
Fook Hai Building, Singapore
b. NETWORK CAPITAL PTE, LTD. -
Rp. 808,920,000.-
Address :
101 Cecil Street No. 22-09
Tong Eng Building, Singapore
BUSINESS
ACTIVITIES
Lines of Business :
Coal Trader and
Exporter
Production Capacity :
None
Total Investment :
None
Started Operation :
June 2012 (Planned)
Brand Name :
Jwala Energi
Resources
Technical Assistance
:
None
Number of Employee :
Not Available
Marketing Area :
Export -
100%
Main Customer :
Buyers in India,
Vietnam, Philippine, and China
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ARTHA DAYA
COALINDO
b. P.T. LAMINAR
INTERNATIONAL
c. P.T. MULTI AGUNG
SENTOSA
d. P.T. PUTRA UTAMA
MANDIRI
e. P.T. SIGMA
CEMERLANG SINERGI
Business Trend :
No Comment
BANKER,
AUDITOR & LITIGATION
Banker
:
Not
Available
Auditor
:
No
Comment
Litigation
:
No
litigation record in our database
FINANCIAL
FIGURE
Annual
Sales (estimated) :
Not
Available
Net
Profit (estimated) :
Not
Available
Payment
Manner :
Unknown
Financial
Comments :
Weak
KEY
EXECUTIVES
Board of Management :
President Director - Mr. Gautam Kunzru
Director -
Mrs. Linda Z.A. Kunzru
Board of Commissioners :
Commissioner - Mr. M. Rajaram
Signatories :
President
Director (Mr. Gautam Kunzru) or the Director (Mrs. Linda Z.A. Kunzru) which
must be approved by Board of Commissioner
CAPABILITIES
Management Capability :
Doubtful
Business Morality :
Prudent
OVERALL
PERFORMANCE
Based on search and investigation the correct name of
Subject is P.T. JWALA ENERGI RESOURCES not JWALA ENERGI RESOURCES PTE as stated
in your order ref no. 482810 dated 21 December 2017. We had also verification
thorough address Menara Prima 15-J, Jalan Lingkar Mega Kuningan Block 6.2, Mega
Kuningan Timur, Setiabudi, South Jakarta, the Subject has been moved and not
enrolled as tenants of the building. Besides according to building management
(62-21) 5794 8000 explained P.T. JWALA ENERGI RESOURCES had been moved from the
building without given new address.
P.T. JWALA ENERGI RESOURCES (P.T. JER) was established in
Jakarta based on notary deed Mrs. Sri Irmiati, SH., no. 2 dated 24 February
2012 with an authorized capital of Rp. 5,392,800,000 issued capital of Rp.
2,696,400,000 entirely paid up. The founding shareholders of the company are
KUCOM RESOURCES PTE LTD., (70%) and NETWORK CAPITAL PTE LTD., (30%) both are of
Singapore. Based on our knowledge up to writing the report the notary documents
of the company have not undergone any changes. The notary deed of incorporation
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-19068.AH.01.01.TH.2012 dated April 16, 2012.
P.T. JER is a Foreign Investment (PMA) company facility
planned its activity engaged in the field of coal trader and exporter.
According information the company exported of coal, and nickel ore. According
to the website http://www.jwala.com
P.T. JER is a large coal mining and exporting house from Indonesia. The core
operations include mining and export of Thermal/streaming coal from their mine
as well as associate mines P.T. INDOWANA BARA MINING COAL. The associate
company has extensive mining assets in East Kalimantan and Sumatera regions of
Indonesia. They control the quality of coal which is finally shipped and
delivered to customers by having a team of their own mining engineers, coal
technologies and inspectors located at the mines stockpile and jetty where the
coal is loaded prior to transportation to the anchorage for mother vessel
loading.
The associated company namely P.T. INDOWANA BARA MINING
COAL mining concessions and operates mines in East Kalimantan that covers
30,000 hectares in the Melak, Kabupaten area of Kutai Barat with approximately
1.5 billion tons of certified coal reserves. The entire operations have been
structured under six separate mines each of area 5,000 hectares with the first
production mine being P.T. INDOWANA BARA MINING COAL. The coal concession in Jambi,
South Sumatera are spread 22,500 hectares that are presently under exploration
and pre-production stage with first production expected early 2013. The key
markets for coal exports include India, Thailand, Philippine, Vietnam and
China. However currently we didn’t know the progress of the company due to the
complete address was not found.
We refrain from informing business prospect of P.T. JER
because of having yet found the complete address up to present. In view of
having yet to be unknown the complete address, the company’s financial
condition is as much as the company’s issued capital worth Rp. 2,696,400,000 as
stated in notary document.
The management of P.T. JER is led by Mr. Gautam Kunzru
(64) a businessman of Singapore as President Director, and Mrs. Linda Z.A.
Kunzru (60) as Director. The company's management will be 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.
However, in view of P.T. JWALA ENERGI RESOURCES’s address was not founded we
recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.38 |
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1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
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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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PRI |
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Report Prepared
by : |
SYL |
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.