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MIRA INFORM REPORT
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Report No. : |
506280 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
TRANSCO TEXTILES |
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Registered Office : |
Jalan Kebon Jati No. 18 Block F No. 33, Kampung Bali, Tanah Abang, Jakarta Pusat, 10260 |
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Country : |
Indonesia |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole
Proprietary Company |
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Line of Business : |
Trading and Grocery
and Distribution of Textile Products |
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No. of Employees : |
8 |
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 :
TRANSCO
TEXTILES
Address
:
Head Office
Jalan
Kebon Jati No. 18 Block F No. 33
Kampung
Bali, Tanah Abang
Jakarta
Pusat, 10260
Indonesia
Phones -
(62-21) 391 0631, 391 0650
Fax - (62-21) 390 5850
Mobile - 0818 76 7118
(Mr. Manohar Vaswani)
E-mail - manohaevaswani@hotmail.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
1995’s
Legal
Form :
Sole
Proprietary Company
Company
Reg. No. :
Not
Required
Company
Status :
National
Private Company
Permit
by the Government Department :
Not
Available
Related
Companies :
None
CAPITAL
AND OWNERSHIP
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Capital Structure :
Owned Capital : Rp. 500
million
Owners :
Mr. Manohar Vaswani
BUSINESS
ACTIVITIES
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Lines of Business :
Trading and Grocery
and Distribution of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1995’s
Brand Name :
Transco Textiles
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
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B
a n k e r :
P.T.
Bank MANDIRI Tbk
Jalan
K.H. Fakhrudin No. 15
Kampung
Bali, Tanah Abang
Jakarta
Pusat, Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL
FIGURE
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Annual
Sales (estimated) :
2015
– Rp. 13.8 billion
2016
– Rp. 14.5 billion
2017
– Rp. 15.5 billion
Net
Profit (estimated) :
2015
– Rp. 0.8 million
2016
– Rp. 1.0 million
2017
– Rp. 1.1 million
Payment
Manner :
No
Complaints
Financial
Comments :
Fairly
strong
KEY
EXECUTIVES
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Board of Management :
Director - Mr. Manohar Vaswani
Board of Commissioners :
None
Signatories :
Director
(Mr. Manohar Vaswani) is only 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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TRANSCO TEXTILES (TT) was established in Jakarta in 1995
with the status of sole proprietary company. The founding owner of the company is
Mr. Manohar Vaswani, an Indonesian businessman of India descent. The company’s
capitalization is not announced in its of establishment. Being as a Sole
Proprietary Company, the amount of its capitalization was not mentioned at the
time of its establishment. We
estimate the company has own capital of about Rp. 500 million and it will be
rising in line with the progress of its business operation.
TRANSCO TEXTILES (TT) is a sole proprietary company has
been operating in 1995 dealing with trading, grocery and distribution of
textile products. Mr. Manohar Vaswani, Director and owner of the company
explained the company sells of various types of fabrics for women’s blouse
among others are Balotelli fabrics, Songket Palembang, satin fabrics, tulle
fabrics, Moslem wear (baju koko) and many more. According information some of
the products obtained from locals made and the rest imported from India. According information from Mr. Manohar Vaswani, 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 TRANSCO
TEXTILE 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.
TRANSCO TEXTILES 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 TT 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. 13.8 billion
increased to Rp. 14.5 billion in 2016 rose to Rp. 15.5 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. 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 TT is led by Mr. Manohar Vaswani (53),
a businessman with experienced in general trading, grocery 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. TRANSCO TEXTILES 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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PRI |
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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.