|
|
|
MIRA INFORM REPORT
|
Report No. : |
506298 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DJ TEX |
|
|
|
|
Registered Office : |
Jalan Sunter Paradise Timur Raya
Block F21/19, Sunter Agung, Tanjung Priok Jakarta Utara, 14350 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
2013 |
|
|
|
|
Legal Form : |
Sole Proprietary Company |
|
|
|
|
Line of Business : |
Trading, Grocery and Distribution Tulle Fabrics |
|
|
|
|
No. of Employees : |
8 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 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.
|
Source
: CIA |
BASIC
SEARCH
Name of Company:
DJ TEX
A d d r e s s :
Head
Office
Jalan Sunter Paradise Timur Raya Block
F21/19
Sunter Agung, Tanjung Priok
Jakarta Utara, 14350
Indonesia
Phone - (62-21) 645 1148
Fax - (62-21) 645 1148
Mobile - 081 670 7314 (Mr. Jayant Ailani
Mobile Phone - ailani.jayant@gmail.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2013’s
Legal Form :
Sole Proprietary Company
Company Reg. No. :
Not Required
Company Status :
Private National Company
Permit by the Government Department :
Not Available
Related Companies :
None
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 380 million
Owners:
a. Mr. David
Gurnani
b. Mr. Jayant
Ailani
BUSINESS
ACTIVITIES
Lines of Business :
Trading, Grocery and Distribution Tulle Fabrics
Production Capacity :
None
Total Investment :
None
Started Operation :
2013’s
Brand Name :
DJ TEX
Technical Assistance :
None
Number of Employee :
8 persons
Marketing Area :
Local - 100%
Main Customer :
Trader and shops of textile products
Market Situation :
Very Competitive
Main Competitors :
a. PD. AKSARA TEXTILE
b. PD. FAJAR INDAH
c. PD. RUPA JAYA TEXTILE
d. VENUS TILE
e. Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
B a n k e r :
P.T. Bank CENTRAL ASIA Tbk
Jalan Griya Utama No. 3
Sunter Agung, Tanjung Priok
Jakarta Utara, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2015 – Rp. 8.8 billion
2016 – Rp. 9.5 billion
2017 – Rp. 10.6 billion
Net Profit (estimated) :
2015 – Rp. 0.7 million
2016 – Rp. 0.8 million
2017 – Rp. 0.9 million
Payment Manner :
No Complaints
Financial Comments :
Fairly strong
KEY
EXECUTIVES
Board
of Management :
Director - Mr. David Gurnani
Manager
-
Mr. Jayant Ailani
Board
of Commissioners :
None
Signatories
:
Director (Mr. David Gurnani) is only
the authorized person to sign the loan on behalf of the company
CAPABILITIES
Management
Capability :
Good
Business
Morality :
Good
OVERALL
PERFORMANCE
DJ TEX is a sole proprietary company which
established in Jakarta in 2013’s by Mr. David Gurnani and Mr. Jayant Ailani,
both are Indonesian businessmen of India descents. The company’s authorized capital is not announced in it’s of
establishment. In general, the company with status of sole proprietary company
shall increase its capital continuously together with its business development.
We estimated that DJ TEX has capital about Rp. 380 million.
DJ TEX is a sole proprietary company has
been operating in 2013’s dealing with trading, grocery, supply and distribution
of tulle fabrics and satin fabrics. According information the whole tulle
fabric and satin fabrics imported from India, South Korea, while the rest from
locals. In general, tile
fabrics are used to make wedding dresses, wedding veils, women's dress, kebaya,
costumes, tutu ballet (or tutu skirt), and wreaths. A rather loud and tulle and
satin fabrics is used to create a fluffy effect especially on women's skirts as
well as the impression of floats on clothing while soft, thin and delicate tile
is often part of dress and kebaya. According information from Mr. Jayant
Ailani, the whole products marketed locally various textile shops which operating in
Pasar Pagi, Mangga Dua, Tanah Abang, Mayestik, Kebayoran Lama and other tailor
in Jakarta and surroundings. We observe DJ TEX is classified a small sized
company of its kinds in Jakarta with operation has been developing well in the
last three years.
In overall
views we find the demand for textile products especially lady’s menswear has
kept on rising 6% to 8% per annum in the last five years. The sharp growth of
the demand was in line with the progress achieved in textile products locals
markets. The demand growth is estimated to continually rising by 6% over the
next five years. Market competition is very sharp considering many other
similar companies operating in the country. DJ TEX in this case is in a
sufficiently fairly good business position in view of the company has
controlled a wide marketing network in Jakarta and surroundings.
Until this
time DJ TEX 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. 8.8 billion
increased to Rp. 9.5 billion in 2016 rose to Rp. 10.6 billion in 2017 and
projected to go on rising by at least 5% in 2018. The operation in 2017 yielded
an estimated net profit of at least Rp. 0.9 billion. So far, we did not heard
that the company having been black listed by the Central Bank (Bank
The management
of DJ TEX is headed by Mr. David Gurnani (55), a businessman with experienced
in trading, grocery, supply and distribution of textile products. 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. DJ TEX is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.77 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
|
IDR |
1 |
INR 0.0048 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
N IY |
|
|
|
|
Report Prepared
by : |
KET |
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.