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MIRA INFORM REPORT
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Report No. : |
514351 |
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Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
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Name : |
C.V. BIOLA JAYA |
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Registered Office : |
Jalan Medan-Binjei Km. 9.8 No. 63, Medan, 20352 North
Sumatera |
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Country : |
Indonesia |
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Financials (as on) : |
2017 (Summarized) |
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Date of Incorporation : |
1985 |
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Legal Form : |
C.V. (Commanditaire Vennootschaap) or partnership with sleeping partner |
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Line of Business : |
Trading and Exporter of
Agriculture Commodities Products |
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No. of Employees : |
90 |
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 : |
Good |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 34% today. In May 2017 Standard & Poor’s became the last major ratings agency to upgrade Indonesia’s sovereign credit rating to investment grade.
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
C.V. BIOLA
JAYA
Address
Head Office & Warehouse I
Jalan
Medan-Binjei Km. 9.8 No. 63
Medan,
20352
North
Sumatera
Indonesia
Phone - (62-61) 845 7733
(Hunting), 845 6235
Fax -
(62-61) 845 6609
E-mail - enquiries@biolajaya.com
Website - http://www.biolajaya.com
Land Area - 3,500 sq. meters
Building
Area - 2,300 sq. meters
Region - Industrial Zone
Status - Rent
Warehouse II
Jalan
Pasar Hitam No. 49
Sampali
Medan
20114
North
Sumatera
Indonesia
Phone - (62-61) 6617917-18
Fax -
(62-61) 6617846
Land Area - 2,500 sq. meters
Building
Area - 2,000 sq. meters
Region - Industrial Zone
Status - Rent
Branch Office
Jalan
Timor 10 – Y/89
Gang
Buntu, Medan Timur
Medan
20231
North
Sumatera
Indonesia
Phone - (62-61) 4553 116
Fax -
(62-61) 4553 116
Building
Area - 1 storey
Office
Space - 100 sq. meters
Region - Industrial Zone
Status - Rent
Date of Incorporation :
1985
Legal Form :
C.V.
(Commanditaire Vennootschaap) or partnership with sleeping partner
Company Reg. No. :
Not
Required
Company Status :
National
Private Company
Permit by the Government Department :
Not
Available
Related Company :
None
CAPITAL
AND OWNERSHIP
Capital Structure :
Owned
Capital : Rp. 2.5 billion
Shareholders/Owners :
a. Mr.
Arianto (Active partner)
b. Mrs.
Aai Arianto (Silent partner)
BUSINESS
ACTIVITIES
Lines of Business:
Trading
and Exporter of Agriculture Commodities Products
Production Capacity:
None
Total Investment:
None
Started Operation:
1985
Brand Name:
None
Technical Assistance:
None
Number of Employee:
90 persons
Marketing Area:
Export -
100%
Main Customer:
Buyer in
India, Nepal, Citagong and Pakistan
Market Situation:
Very
Competitive
Main Competitors:
a. P.T.
ALAM INDORONA
b. P.T.
ASIA AGROMAS ABADI
c. C.V.
BUMI DJAJA
d. C.V. JAYA BERSAMA
Business Trend:
Growing
BANKER,
AUDITOR & LITIGATION
Bankers:
a. Hongkong and Shanghai Banking Corp. Ltd.
Jalan
Diponegoro No. 11
Medan,
North Sumatra
Indonesia
b. P.T. Bank MANDIRI Tbk
Jalan
Imam Bonjol No. 28
Medan,
North Sumatra
Indonesia
Auditor:
Internal
Auditor
Litigation:
No
litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated):
2015 – Rp.
31.0 billion
2016 – Rp.
33.0 billion
2017 – Rp.
35.5 billion
Net Profit (Loss):
2015 – Rp.
2.5 billion
2016 – Rp.
2.7 billion
2017 – Rp.
2.9 billion
Payment Manner:
Average
Financial Comments:
Fairly
strong
KEY
EXECUTIVES
Board
of Management:
Director - Mr. Arianto
Manager -
Mr. Jeffry Teh
Board
of Commissioners:
Commissioner - Mrs. Aai
Arianto
Signatories:
Director (Mr. Arianto) is only the authorized person to sign the
on behalf of the company.
CAPABILITIES
Management
Capability :
Good
Business
Morality :
Good
Credit
Risk :
Average
OVERALL
PERFORMANCE
C.V. BIOLA JAYA (C.V. BJ) was established in 1985’s in Medan, North Sumatera, with the legal status of Commanditaire Vennootschaf (C.V) or partnership with sleeping partner. Founders and owners of the company are Mr. Arianto as active partner and his wife Mrs. Aai Arianto as silent partner, both are Indonesian business family of Chinese origins. Being as a C.V. company, the amount of its authorized capital was not mentioned at the time of its establishment. We estimate, C.V. BJ has own capital of about Rp. 2.5 billion and it will be rising in line with the progress of its business operation.
C.V. BJ is one the largest exporter of areca nuts in Medan and had been operating since the end of 1985’s in trading and exporter agricultural products. Mr. Arianto, the director of the company explained that the agricultural product such as areca nut, clove, cocoa bean, desiccated coconut, cassia vera, cashew nut, round cardamom, candlenut, and black pepper being bought from several plantations and farmers of Nangroe Aceh Darusalam, Medan, North Sumatera, Lampung and surroundings. Then, the whole product likes are nuts is exported to Pakistan, Nepal and India based on job orders. Areca nut or betel nut is aromatic and as astringent and is said to intoxicate when first taken. In India the areca nuts has long been used as a taenifuge for tapeworm. Besides, the product is also used for medicine and cosmetic. He went to said that the type and specific of areca nut has divided into three type such as Super Malaysia with price US$ 950 per tons, Super Indonesia with the price of US$ 850 per tons and Super Baru with the price of US$ 600 to US$ 700 per tons. Mr. Arianto also added that since 2010 the company has able to collect of areca nut from Jambi, Lampung, Sulawesi and other areas. They have been provides of 15,000 tons of areca nuts since January to April and ready for export. At present the company exported the whole product to Singapore, Bangladesh, Pakistan, India and China. We observed that the company’s operation has been growing in the last five years.
We have noticed that the demand for agricultural products had increased some 10% to 11% per annum in the last five years in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 6% to 7% per annum. The present market situation for agricultural products is very competitive for a large number of similar companies operating in the country. Meanwhile, competition is quite heavy in the export import of agricultural products with many companies now doing business in this field in Indonesia. We consider C.V. BJ to be in a quite favorable position for having already got hold of a steady clientele in abroad.
C.V. BJ has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of the company 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. 31.0 billion rose to Rp. 33.0 billion in 2016 increased to Rp. 35.0 billion in 2017 and projected to go on rising by at least 5% in 2018. The operation in 2017 has yielded a net profit of at least Rp. 2.9 billion. 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 C.V. BJ is led by Mr. Arianto (61) a businessman with experience in trading, and exporter of betel nuts. 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. C.V. BIOLA JAYA 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 67.76 |
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1 |
INR 89.95 |
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Euro |
1 |
INR 78.85 |
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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 : |
SUJ |
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
·
Promoters
/ Management background
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Payment
record
·
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.