|
|
|
MIRA INFORM REPORT
|
Report No. : |
483973 |
|
Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PT. DAMAI RUKUN BERSAMA |
|
|
|
|
Registered Office : |
Jl. Kedoya Duri Raya No. 41, Kelurahan Kedoya Selatan, Kecamatan Kebon
Jeruk, Kota Jakarta Barat 11520, DKI Jakarta |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
28.10.2010 |
|
|
|
|
Legal Form : |
Private Limited Liability Company or Perseroan Terbatas (PT) |
|
|
|
|
Line of Business : |
Non-specialised wholesale of food, beverages and tobacco |
|
|
|
|
No. of Employees : |
44 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 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.
|
Source
: CIA |
COMPANY
IDENTIFICATION
|
|
Company
Name
|
PT.
Damai Rukun Bersama |
|
|
|
|
Address |
Jl.
Kedoya Duri Raya No. 41 |
|
|
|
|
Telephone |
+62215825749,
+62215825748 |
|
Fax |
+62215801748
|
|
Mobile
Phone
|
N.A.
|
|
|
|
|
Email |
damairb@gmail.com |
|
Web |
N.A. |
PROFILE
|
|
Address |
Jl.
Kedoya Duri Raya No. 41 |
||||
|
|
|
||||
|
Office
Building
|
|
||||
|
|
|||||
|
Date
of Establishment
|
|
||||
|
|
|
||||
|
Start
Operation
|
2011
|
||||
|
|
|
||||
|
Legal
Status
|
Private
Limited Liability Company or Perseroan Terbatas (PT) |
||||
|
|
|
||||
|
Legalization
(historical)
|
No.
AHU-53415.AH.01.01.Tahun 2010 |
||||
|
|
|
||||
|
Government
Permit (s)
|
Kementrian
Perdagangan |
||||
|
|
|
||||
|
Significant
change
|
PT.
Damai Rukun Bersama (the Company) was established on October 28,
2010 in West Jakarta, with the authorized capital of IDR 500
million, of which IDR 125 million was issued and paid up by Miss
Damajanti Sugiarto (70.00%) and Miss Dewi Sulistijawati (30.00%.) On
October 2, 2013, the Company published a notarial act. As written
in the act, the authorized capital of the Company was increased to IDR
20,000 million, of which IDR 7,000 million was issued and paid up
by Miss Damajanti Sugiarto (99.464%) and Miss Dewi Sulistijawati
(0.536%.) On
December 23, 2015, the Company published a notarial act. As written
in the act, the Company's capital structure has not changed. However, its
shareholder structure changed to Miss Damajanti Sugiarto (99.464%)
and Mr. Leonardo Budidarma Halim (0.536%). As
far as we know, there has been no more change in the Company’s notarial act
as published by the Ministry of Justice. |
||||
|
|
|
||||
|
Capitalization
|
|
||||
|
|
|
SHAREHOLDERS
& MANAGEMENT
|
|
Shareholders
|
Total
No. of Shareholders: 2 |
||||
|
|
|||||
|
Name
of Shareholders
|
|
||||
|
|
|
||||
|
Management
Board
|
|||||
|
|
|
||||
|
Name |
Mr.
Leonardo Budidarma Halim |
||||
|
|
|
||||
|
Position |
Director
|
||||
|
|
|
||||
|
Nationality
|
Indonesian
|
||||
|
|
|
||||
|
Supervisory
Board |
|||||
|
|
|
||||
|
Name |
Miss
Damajanti Sugiarto |
||||
|
|
|
||||
|
Position |
Commissioner
|
||||
|
|
|
||||
|
Nationality
|
Indonesian
|
||||
|
|
|
||||
|
Management
Assessment |
The
management is deemed to have sufficient experience and industry expertise to
manage subject properly. |
||||
|
|
|
||||
|
Authorized
Signatories |
Mr.
Leonardo Budidarma Halim as Director of the Company which must be approved by
shareholders meeting |
||||
|
|
|
||||
|
Affiliate
(s) / Associate (s) |
N.A.
|
KEY
DATA ON OPERATIONS
|
|
Registered
Activities
|
SIC
Code 46 : Wholesale trade, except of motor vehicles and motorcycles |
|||||||||||||||
|
|
|
|||||||||||||||
|
Number
of Employee |
Approximately
44 employees |
|||||||||||||||
|
|
|
|||||||||||||||
|
Business
Category |
SIC
Code 46.3 : Wholesale of food, beverages and tobacco |
|||||||||||||||
|
|
|
|||||||||||||||
|
Line
of Business |
SIC
Code 46.39 : Non-specialised wholesale of food, beverages and tobacco |
|||||||||||||||
|
|
|
|||||||||||||||
|
Product
& Capacity |
N.A.
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Status
of Investment |
Non
Facility Company |
|||||||||||||||
|
|
|
|
||||||||||||||
|
Sales
Territory
|
Local
|
50%
|
||||||||||||||
|
|
|
|||||||||||||||
|
|
|
|||||||||||||||
|
International
|
50%
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Main
Items Imported |
Egg
Flour |
USA |
||||||||||||||
|
|
|
|
||||||||||||||
|
Main
Items Exported |
Biscuit
and Wafer |
USA |
||||||||||||||
|
|
|
|
||||||||||||||
|
Major
Customers |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Major
Supplier |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Terms
of Payment |
Purchase
Payment |
|||||||||||||||
|
|
|
|||||||||||||||
|
Activity
Comment |
PT.
Damai Rukun Bersama is a non-facility company that is engaged in the
wholesale of food product. The Company began operation in 2011. The head office,
registered address and warehouse of the Company are located at Jl.
Kedoya Duri Raya No. 41, Kelurahan Kedoya Selatan, Kecamatan Kebon Jeruk,
Kota Jakarta Barat 11520, DKI Jakarta - Indonesia. We believe the
location is leased by the Company. Based
on our investigation, the Company is engaged in the export and import
activities. In the present time, the Company trades varieties of
biscuit products. Some of the brands are Assorted Red Mini 700,
Assorted Merah 1700, Assorted Yellow, Crown 681g, Saltcheese, Cissy
Long, Greenbiz, Lemonia, Milk Short Cake, Togo Peanut and
Chocolate, L.A Bears, Big Royal Family, Mini Crepes, Troy
130g, Saphira Bt Cookies 325, Cheese Cookies, K-Fox Butter
Cookies, Broniz Coklat and Kismis Sultana Cookies, to name a few. The
Company acts as a supplier for PT. Khong Guan Biscuit Factory Indonesia
and PT. Serena Indopangan Industri to distribute the biscuits. Majority,
the Company distributes the products for overseas market, to countries such
as USA (Anhing Corporation), India (Aditya Birla Retail Ltd), Singapore,
Malaysia and Australia. Then,
the Company also distributes the products to local customer such as PT.
Indomarco Prismatama and PT. Sumber Alfaria Trijaya Tbk. In
addition, the Company is also the importer of egg flour and creamer products.
For the egg flour, it is imported from USA, Ukraine, and Malaysia; one of the
Companies is from Rembrandt Enterprises, Inc. Of USA. As for the creamer, it
is imported from Thailand and Malaysia one of them from Kerry Ingredients (M)
Sdn. Bhd. of Malaysia. The Company routinely imports the minimum product once
a month for 5 containers. Then,
the Company distributes the product to local food industry such as for PT.
Khong Guan Biscuit Factory Indonesia and PT. Serena Indopangan Industri
needs. To
support import and export activities, the Company has been established a
business relation with Orient Express Container Co., Ltd. of China and local
shipping company, PT. Diraja Trailindo. According
to our source, the Company's operational performance throughout 2015 to 2016
was decreasing. This is due to the slowing down of global economic
conditions. Several industry sectors experienced the lethargy of one of food
and beverages due to the people's purchasing power. Throughout
the year 2017, the Company's product sales have increased slightly,
especially the imported products of egg flour and creamer. While for the sale
of biscuit products especially in the overseas, the market looks stagnant.
Until early 2018, the Company is still operating pretty well. In
terms of payment, the Company does not experience any problems either from
customers or suppliers. Currently,
the Company has approximately 44 employees to operate the business. At the time of writing this report, this Company has
not been involved in any criminal or civil cases. This statement is a based
on a result of search conducted at the State Court, where the Company was
established and operates today. |
|||||||||||||||
|
|
|
|||||||||||||||
|
Warehouse
and Registered Address |
Jl.
Kedoya Duri Raya No. 41 |
|||||||||||||||
BANKING
INFORMATION
|
|
Banker
(s)
|
|
||||
|
|
|
||||
|
Insurance
|
|
BUSINESS
PROSPECTS
|
|
Business
Prospects
|
The Ministry of Industry notes the food and
beverage industry has accounted for 34.95% of GDP in non-oil industry in the
third quarter 2017, which was an increase of 4% compared to the same period
in 2016, as well as a contributor to the industry's highest GDP compared to
other sectors. The Ministry of Industry predicts the food
and beverage industry to remain as one of the top industries in
the manufacturing growth and in the national economy by 2018. Meanwhile, the National Planning and
Development Agency said that the export growth rate in the third quarter 2017
is the highest since the second quarter 2011 ago, reaching 17.27%. The export
growth rate is dominated by the non-oil and gas amounted to 20.51% of the
total export growth rate, which is also the highest growth in the last seven
years. In the future, non-oil gas export growth is
predicted to grow to 7.5% in 2018. The recovering condition is also
influenced by the development of economy in Southeast Asian countries, as
well as the recovering price of main commodities from Indonesia, such as
coals and palm oil. Today, the food and beverage product contribution for the
non-oil and gas export has reached 35%. On the other hand, the import growth
in Indonesia by November 2017 at USD 11.15 billion is categorized as a
positive realization, because the imported products are more in the form of
raw materials and capital goods. The Ministry of Finance believes that the
increase in raw materials and capital goods imports this year is a sign of a
shift from commodity-based economy to strengthening the domestic
manufacturing sector, thus sustaining the target of 5.4% economic growth in
2018. Meanwhile, related to the regulation of
restrictions on imports of raw materials, the government predicts difficult
to suppress the import of raw materials manufacturing industry up to 0%.
Currently, the imports of raw materials manufacturing industry reached 43%.
Of that amount, raw material import is estimated to only be reduced to 20%
only. Based on these explanation, we believe that
the Company is still prospective in the future. |
FINANCIAL
STATEMENT
|
|
Sales
Turn Over
|
2015
- IDR 177,500,000,000 (Estimated) |
|
|
|
|
Total
Assets |
As
the Company is not a public listed company, so we are unable to give a detail
picture about financial condition of the Company. |
|
|
|
|
Other
Financial Data |
Since
the Company is not a publicly listed company, we are unable to give a
detailed picture of the financial condition of the Company. |
CREDITWORTHINESS
|
|
Management
Capability
|
Adequate
|
|
|
|
|
Business
Morality
|
Good
|
|
|
|
|
Payment
Manner
|
Satisfactory
|
|
|
|
|
Financial
Condition
|
Satisfactory
|
|
|
|
|
Operating
Trend
|
Up
|
|
|
|
|
Conclusive
remarks
|
Based on data shown above, we found out
that the Company is engaged in the export and import activities. The Company
is importing raw materials for food and beverages industry in Indonesia from overseas
countries such as India, Malaysia, USA and Thailand. On the other hand, the
Company is exporting its biscuits to overseas market too, such as the USA and
Singapore. Operationally, despite the Company's sales
was decreasing in the period 2015 - 2016, but in 2017 it recovered again
(increasing). Meanwhile, considering the needs needs of imported raw
materials are still quite high and the export of food and beverages products
are encouraged to keep growing, we believe that the Company is still prospective
in the future. In terms of financial aspect, the Company
is not facing significant obstacles. The Company’s cash flow is also still
stable. Based on these conditions and indicators shown above, we classify the
Company’s credit rating in 'medium' risk. For security reason, we advise those
wishing to make cooperation with and to grant loans to the Company, to ask
for adequate collateral from the owners and management. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
|
IDR |
1 |
INR 0.0047 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
SYL |
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.