|
|
|
MIRA INFORM REPORT
|
Report No. : |
506274 |
|
Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PD. FAJAR INDAH |
|
|
|
|
Registered Office : |
Komplek Ruko Tekstil Block C-2 No. 14 Jalan Arteri Mangga Dua Raya,
Ancol, Pademangan Jakarta Utara, 10730 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Sole Proprietary Company |
|
|
|
|
Line of Business : |
Trading and Distribution of Textile Products |
|
|
|
|
No. of Employees : |
7 |
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 |
Company
SUMMERY
Name of Company :
PD. FAJAR INDAH
Address :
Head Office
Komplek
Ruko Tekstil Block C-2 No. 14
Jalan
Arteri Mangga Dua Raya
Ancol,
Pademangan
Jakarta
Utara, 10730
Indonesia
Phone - (62-21) 6129091
Fax -
(62-21) 6017906
Mobile - 0811 150 826 (Mr. Sam Krishna)
Building
Area - 2 storey
Office
Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2001’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
Capital Structure :
Authorized
Capital : Rp. 500 million
Owner:
Mr. Sam Krishna
BUSINESS
ACTIVITIES
Lines of Business :
Trading
and Distribution of Textile Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2001
Brand Name :
Fajar
Indah
Technical Assistance :
None
Number of Employee :
7
persons
Marketing Area :
Local - 100%
Main Customer :
Trading
and Shop of Textile Products
Market Situation :
Very
Competitive
Main Competitors :
a.
PD. AKSARA TEXTILE
b.
DJ TEX
c.
PD. RUPA JAYA TEXTILE
d.
PD. SURTEX
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
Banker :
P.T.
Bank MANDIRI Tbk
Arkade
Dusit Mangga Dua No. 5
Jalan
Arteri Mangga Dua Raya
Jakarta
Utara, 10730
Indonesia
Auditor :
Internal
Auditor
Litigation :
No
litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2015
– Rp. 11.8 billion
2016
– Rp. 12.7 billion
2017
– Rp. 13.5 billion
Net Profit (estimated) :
2015
– Rp. 0.8 million
2016
– Rp. 0.9 million
2017
– Rp. 1.0 million
Payment Manner :
No Complaints
Financial Comments :
Fairly
strong
KEY
EXECUTIVES
Board of Management :
Director - Mr. Sam Krishna
Board of Commissioners :
None
Signatories :
Director (Mr. Sam Krishna) is only the authorized
person to sign the loan on behalf of the company
CAPABILITIES
Management Capability :
Good
Business Morality :
Good
OVERALL
PERFORMANCE
PD. FAJAR INDAH (PD. FI) was set-up in Jakarta in 2001 with the
status of sole proprietary company. The founding and owner of the company is
Mr. Sam Krishna, an Indonesian businessman of India descent. 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.
PD. FAJAR INDAH (PD. FI) is a sole proprietary company has been operating
in 2001 engaged in the field of trading, grocery and distribution of textile
products. PD FI is a company engaged in trading of pants and shirts for men as
well as cotton cloth. According information from Mr. Sam Krishna, Director and
owner of the company explained the whole products obtained from locals products
such as JACK BLACK and others types wholly obtained from Bandung, West Java.
Further Mr. Sam Krishna explained the whole products marketed locally through
various textile shops which operating in Pasar Pagi, Mangga Dua, Tanah Abang
and other tailor in Jakarta and surroundings. We observe that PD. FJ is
classified a small sized company of its kinds in Jakarta which 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. PD.FI
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 PD. FI 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. 11.8 billion increased to Rp.
12.7 billion in 2016 rose to Rp. 13.5 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. 1.0 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 PD. FI is led by Mr. Sam Krishna (54), a
businessman with experienced for more than 17 years in the field of 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. PD. FAJAR INDAH 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
: |
PRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.