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MIRA INFORM REPORT
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Report No. : |
485379 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PT. CAHAYA PALMA INDONESIA |
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Registered Office : |
Jl. Lintas Samudera , Kelurahan Petalongan, Kecamatan Keritang , Kab. Indragiri Hilir 29274 , Riau |
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Country : |
Indonesia |
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Date of Incorporation : |
26.03.2014 |
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Legal Form : |
Private Limited Liability Company or Perseroan Terbatas
(PT) |
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Line of Business : |
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Wholesale trade, except of motor
vehicles and motorcycles ·
Wholesale of food, beverages and
tobacco ·
Wholesale of fruit and vegetables |
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No. of Employees : |
12 |
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 : |
No Complaints |
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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 |
COMPANY
IDENTIFICATION
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Company Name |
PT. Cahaya Palma Indonesia |
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Address |
Jl.
Lintas Samudera |
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Telephone |
N.A. |
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Fax |
N.A. |
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Mobile Phone |
+6281268726999 (Ms. Mia
Amelia) |
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Email |
N.A. |
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Web |
N.A. |
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Date of Last Research |
15/01/2018 |
PROFILE
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Address |
Jl.
Lintas Samudera |
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Office Building |
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Date of Establishment |
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Start Operation |
2014 |
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Legal Status |
Private Limited Liability Company
or Perseroan Terbatas (PT) |
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Legalization (historical) |
No.
AHU-00687.40.10.2014 |
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Government Permit (s) |
N.A. |
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Significant change |
PT. Cahaya Palma Indonesia (the Company) was established on
March 26, 2014, in Indragiri Hilir, Riau, Indonesia. As written on the
establishment act, the Company's authorized capital was IDR 1 billion, and
issued and paid up capital of IDR 500 million. The Company's shareholder
structures were Ms. Mia Amelia (70.000%) and Ms. Dina Rossely
Martha (30.000%). Up to the completion of this report, there is no more change in
the Company’s shareholder structure and capitalization structure. |
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Capitalization
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SHAREHOLDERS
& MANAGEMENT
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Shareholders |
Total
No. of Shareholders: 2 |
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Name of Shareholders |
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Management Board |
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Name |
Ms. Mia Amelia |
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Position |
Director |
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Nationality |
Indonesian |
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Supervisory Board |
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Name |
Ms. Dina Rossely Martha |
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Position |
Commissioner |
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Nationality |
Indonesian |
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Management Assessment |
The management is deemed to have sufficient experience and
industry expertise to manage subject properly. |
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Authorized Signatories |
Ms. Mia Amelia as Director of the
Company which must be approved by shareholders meeting. |
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Affiliate (s) / Associate (s) |
N.A. |
KEY
DATA ON OPERATIONS
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Registered Activities |
SIC Code 46 : Wholesale trade,
except of motor vehicles and motorcycles |
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Number of Employee |
Approximately 12 employees |
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Business Category |
SIC Code 46.3 : Wholesale of
food, beverages and tobacco |
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Line of Business |
SIC Code 46.31 : Wholesale of
fruit and vegetables |
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Product & Capacity |
N.A. |
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Status of Investment |
Non-facilities based Company |
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Sales Territory |
Local |
50% |
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International |
50% |
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Main
Items Imported |
- |
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Main
Items Exported |
Coconut |
India |
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Major Customers |
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Major Supplier |
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Terms of Payment |
Purchase
Payment |
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Activity Comment |
PT. Cahaya Palma Indonesia (the
Company) is a non-facilities based company that is engaged in wholesale of
coconut since 2014. The Company's office and registered address are located
at Jl. Lintas Samudera, Kelurahan Petalongan, Kecamatan Keritang,
Kabupaten Indragiri Hilir 29274, Riau, Indonesia. This location is located at
a commercial area and it is owned by the Company. Based on our investigation, the Company is engaged in trading of
agriculture products which is coconut fruit. The Company purchases the
products from local farmers in Medan, Riau, Padang, and also Pontianak. For the distribution, the Company aims local manufacturers in
Indonesia and in overseas market. And 50% of the products are marketed to
India. Meanwhile, the rest are traded to local manufacture of food and
beverage companies and manufacture of oil companies. Some of the Company's
customers among other are PT. Pulau Sambu Guntung and PT. Inhil
Sarimas Kelapa. Our source stated that there has been no issues with the
Company's export activities. However, sometimes the fluctuated of foreign exchange rate may
affect the Company. It affects on the price competition, both in domestic and
overseas market. Sometimes, the Company is unable to compete the price
offered by its competitors. Nevertheless, our source informed that so far the
Company is still able to obtain increasing sales since 2015 to 2017, although
the Company had fluctuated net profit. On average, the Company is able to
book revenue of approximately IDR 20 billion per year. In term of payment transaction, our source explained that the
Company is strict with delay payment. Therefore, the Company receives 30%
down payment first from the customers to avoid large amount of delay
payments. 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 district, where the
Company was established and operates today. |
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BANKING
INFORMATION
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Banker (s) |
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Insurance |
N.A. |
BUSINESS
PROSPECTS
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Business Prospects |
According to Asian and Pacific Coconut Community (APCC), India
in 2017 produced coconut as much as 24.3 billion grains per year. Indonesia
ranges from 15.7 billion points and even then tends to decline. However, the Head of Center for Data and Information System of
the Ministry of Agriculture (Kementan) is optimistic that coconut exports
will continue to increase in 2018. In 2017, in the period of January to
August, Indonesia's coconut exports were dominated by coconut oil, dried coconut
form, and coconut in the skin. Coconut oil exports reached 63% and coconut
form was dried and coconut in the skin 19.87%. Furthermore, the prospect of production and consumption of crude
palm oil (CPO) in 2018 is predicted to increase, one of which is supported by
government's crop rejuvenation program. In 2018, global CPO production and
consumption is projected to increase 7.0% YoY. Historically, weather
conditions tend to improve in the medium term following El Nino and La Nina
events. Considering the expected weather in 2018 is more conducive, it is
projected global CPO production will reach 71.3 million tons (+ 7.0% YoY),
while global CPO consumption should also grow 7.0% YoY to 65.5 million tons. Based on the data shown above, we believe the Company has
potential business. |
FINANCIAL
STATEMENT
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Sales Turn Over |
2015
- IDR 20,000,000,000 (Estimated) |
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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. |
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Other Financial Data |
As the Company is not a publicly listed company, we are unable
to give detailed picture of the financial condition of 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 63.41 |
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1 |
INR 87.18 |
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Euro |
1 |
INR 77.45 |
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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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NIY |
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Report Prepared
by : |
KET |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.