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MIRA INFORM REPORT
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Report No. : |
497597 |
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Report Date : |
15.03.2018 |
IDENTIFICATION DETAILS
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Name : |
C.V. BERSEMI LESTARI |
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Registered Office : |
Jalan Taman Siswa
No. 13, Tegalombo, Kauman, Ponorogo, 63451, East Java |
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Country : |
Indonesia |
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Date of Incorporation : |
2000 |
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Legal Form : |
Partnership with
Sleeping Partners |
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Line of Business : |
Trading and
Exporter of Agricultural Commodities and Herbs Products |
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No. of Employees : |
11 |
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 |
BASIC
SEARCH
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Name of Company :
C.V. BERSEMI LESTARI
Address :
Head Office & Warehouse
Jalan Taman Siswa No.
13
Tegalombo, Kauman
Ponorogo, 63451
East Java
Indonesia
Phone -
(62-352) 752 352
Mobile Phone -
081 222 678678
Land Area -
1,500 sq. meters
Office Space -
1,000 sq. meters
Region -
Industrial Zone
Status -
Rent
Date of Incorporation :
2000’s
Legal Form :
C.V. (Commanditaire
Vennootschap) or Partnership with Sleeping Partners
Company Reg. No. :
Not Required
Company Status :
Private National
Company
Permit by the
Government Department :
Not Available
Related Companies :
None
CAPITAL
AND OWNERSHIP
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Capital Structure :
Authorized Capital : Rp. 300 million
Shareholders/Owners :
a. Mr. Mohammad Saiin (Active Partner)
b. Mrs. Syafitri Saiin (Silent Parner)
BUSINESS
ACTIVITIES
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Lines of Business :
Trading and Exporter
of Agricultural Commodities and Herbs Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2000’s
Brand Name :
Bersemi Lestari
Technical Assistance
:
None
Number of Employee :
11 persons
Marketing Area :
Local - 100%
Main Customer :
Buyers in South Korea
and India
Market Situation :
Very Competitive
Main Competitors :
a. C.V. BERSEMI
b. C.V. CENDRAWASIH
c. C.V. LINTAS UTAMA
d. C.V. SURYA MAS
e. Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
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B
a n k e r :
P.T.
Bank MANDIRI Tbk
Jalan
Urip Sumoharjo No. 102
Ponorogo,
East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record
in our database
FINANCIAL
FIGURE
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Annual Sales
(estimated) :
2015 – Rp. 2.8
billion
2016 – Rp. 3.5
billion
2017 – Rp. 4.0
billion
Net Profit
(estimated) :
2014 – Rp. 196
million
2015 – Rp. 245
million
2016 – Rp. 280
million
Payment Manner :
Average
Financial Comments :
Fairly strong
KEY
EXECUTIVES
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Board of Management :
Director - Mr. Mohammad Saiin
Board of Commissioners :
Commissioner -
Mrs. Syafitri Saiin
Signatories :
Director (Mr. Mohammad Saiin) is only the authorized person to
sign the loan on behalf of the company
CAPABILITIES
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Management Capability :
Fairly Good
Business Morality :
Fairly Good
OVERALL
PERFORMANCE
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C.V. BERSEMI LESTARI (C.V. BL) was incorporated in 2000’s
in Ponorogo, East Java with the legal status of C.V. (Commanditaire
Vennootschap) or partnership with sleeping partner. The founding and owners of
the company are Mr. Mohammad Saiin as active partner and his wife Mrs. Syafitri
Saiin as silent partner and both are indigenous business family of Java tribes.
Being as a C.V. company, the amount of its capital was not mentioned at the
time of its establishment. We estimate, C.V. BL has own capital of about Rp.
300 million and it will be rising in line with the progress of its business
operation.
C.V. BL is a small sized company started with operating
in 2000’s engaged in the field of trading and exporter of agricultural
commodities and herbs products. The company established in 2000, at Surabaya
city and starting from trading local traditional market to store the trading
goods, now growth to trade in global market and based warehouse in Ponorogo
City. The types of agriculture commodities are fresh ginger, dried slice
turmeric, fresh galangal, fresh galangal, dried slice galangal, tamarind,
cardamom, dried slice fingerroot, etc. According information the whole products
obtained through farmers in East Java, Central Java and surroundings. According
information the whole products like spice and herbs exported to South Korea and
India. We observe C.V. BL is classified a small sized company of its kinds in
Ponorogo, East Java with operation has been growing in the last three years.
We have noticed that the demand for agricultural
products, spice and herbs 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.
Until this time C.V. BL 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. 2.8 billion
increased to Rp. 3.5 billion in 2016 rose to Rp. 4.0 billion in 2017 and
projected to go on rising by at least 4% in 2018. The operation in 2017 yielded
an estimated net profit of at least Rp. 280 million. 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. BL is led by Mr. Mohammad Saiin
(48), a businessman with experienced in trading and exporter of spice and
herbs. 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. BERSEMI LESTARI 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 64.99 |
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1 |
INR 90.83 |
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Euro |
1 |
INR 80.58 |
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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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VIV |
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Report Prepared
by : |
TPT |
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.