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MIRA INFORM REPORT
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Report No. : |
506279 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PURNAMA JAYA TEXTILE |
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Registered Office : |
Jalan Arteri Mangga Dua Raya, Ruko Textile Block C3 No.
25, Jakarta Utara, 14430 |
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Country : |
Indonesia |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
1999 |
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Legal Form : |
Sole Proprietary
Company |
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Line of Business : |
Trading and
Importer of Textile Products |
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No. of Employees : |
9 |
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 (30.09.2017) |
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 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 |
BASIC
SEARCH
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Name of Company :
PURNAMA JAYA TEXTILE
Address :
Head Office
Jalan Arteri Mangga
Dua Raya
Ruko Textile Block C3
No. 25
Jakarta Utara, 14430
Indonesia
Phones -
(62-21) 601 2993, 612 9110, 612 8048-49
Fax - (62-21) 601 9439
E-mail - purnamajaya2003@yahoo.com
Building Area - 3 storey
Office Space -
100 sq. meters
Region -
Commercial
Status -
Rent
Date of Incorporation :
1999’s
Legal Form :
Sole Proprietary
Company
Company
Reg. No. :
Not Required
Company Status :
Private National
Company
Permit by the Government Department :
Not Available
Related Company :
None
CAPITAL
AND OWNERSHIP
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Capital Structure :
Owned Capital : Rp. 400.0
million
Owner :
Mr. Dilip Kumar Marchanal
BUSINESS
ACTIVITIES
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Lines of Business :
Trading and Importer
of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1999
Brand Name :
None
Technical Assistance
:
None
Number of Employee :
9 persons
Marketing Area :
Domestic (Local) - 100%
Main Customer :
Trading and Shop of
Textile Products
Market Situation :
Very Competitive
Main Competitors :
a. PD. AKSARA TEXTILE
b. Toko LAKSANA TEXTILE
c. PD. SITARA
d. P.T. YOSHI INDONESIA
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
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B a n k e r :
P.T. Bank QNB INDONESIA Tbk
Jalan Arteri Mangga Dua
Ancol, Pademangan
Jakarta Utara, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record
in our database
FINANCIAL
FIGURE
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Annual Sales
(estimated) :
2015 – Rp. 11.2
billion
2016 – Rp. 12.5
billion
2017 – Rp. 13.6
billion
Net Profit
(estimated) :
2015 – Rp. 0.9
billion
2016 – Rp. 1.0 billion
2017 – Rp. 1.1
billion
Payment Manner :
No Complaints
Financial Comments :
Fairly strong
KEY
EXECUTIVES
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Board of Management :
Director - Mr. Dilep Kumar
Marchanal
Manager -
Mr. Manu Mulani
Board of Commissioner
:
None
Signatories :
Director (Mr. Dilep Kumar Marchanal) is
the authorized person to sign the loan on behalf of the company
CAPABILITIES
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Management Capability
:
Good
Business Morality :
Good
OVERALL
PERFORMANCE
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Based on search and verification the correct name of
Subject is PURNAMA JAYA TEXTILE not P.T. PURNAMA JAYA as stated in your order
ref. no. 506279 dated 25 April 2018. Besides, the correct address is registered
address Pusat Perdagangan or Ruko Textile Block C 3 No. 25, Jalan Arteri Mangga
Raya, Jakarta Utara.
PURNAMA JAYA TEXTILE (PJT) was established in Jakarta in
1999’s with a status of Sole Proprietary Company. Founder and owner of the
company are Mr. Dilep Kumar Marchanal an Indonesian businessman of India
descent. Being as Sole Proprietary Company, the amount of its authorized
capital was not mentioned at the time of its establishment. In our estimate,
the company has own capital of about Rp. 400 million and it will be rising in
line with the progress of its business operation.
PURNAMA JAYA TEXTILE (PJT) has been in operating since
1999 in the field of trading and distribution of textile products. The
merchandising goods products are for women’s and men’s wears. Mr. Manu Mulani,
Manager of the company went to say the whole textile products is bought from
various textile industries in Bandung, West Java and the rest is also import
from Italy, Spain, and India. The textile products is distributed and supplied
to trading and textile shops which operating in Pasar Pagi Mangga Dua, Tanah
Abang, and other tailor in Jakarta and surrounding. We observe that PJT is
classified as small-sized company of its kinds in the country which operation
has been growing slowly 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. PJT 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 PJT 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. 11.2 billion
increased to Rp. 12.5 billion in 2016 rose to Rp. 13.6 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. 1.1 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 PJT is led by Mr. Dilip Kumar Marchanal
(56) a businessman and professional manager with experience in trading, import
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. PURNAMA JAYA
TEXTILE 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 66.76 |
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1 |
INR 90.58 |
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Euro |
1 |
INR 79.97 |
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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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VAR |
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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.