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MIRA INFORM REPORT
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Report No. : |
503956.2 |
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Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. INDO BISNIS INTERNASIONAL |
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Registered Office : |
Komplek Jakarta Distribution Centre Jl. Kapuk Kamal Raya No.
40, Blok E/1, R.001/RW.002, Kamal Muara sub-district, Penjaringan district,
Jakarta Utara, DKI Jakarta |
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Country : |
Indonesia |
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Date of Incorporation : |
19.05.2017 |
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Com. Reg. No.: |
AHU-AH.01.03-0131450 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading and Distribution of Agricultural Products |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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
|
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 :
P.T.
INDO BISNIS INTERNASIONAL
Address
:
Head
Office
Komplek
Jakarta Distribution Centre
Jl.
Kapuk Kamal Raya No. 40, Blok E/1, R.001/RW.002,
Kamal
Muara sub-district, Penjaringan district,
Jakarta
Utara, DKI Jakarta
Indonesia
Phones -
(62-21) Not available
Fax - (62-21) Not available
Building Area - 4 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
:
19
May 2017
Legal Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Laws
and Human Rights
a.
No. AHU-0025711.AH.01.01.Tahun 2017
Dated 06 June 2017
b.
No. AHU-AH.01.03-0131450
Dated 03 April 2018
Company Status :
National
Private Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. 82.366.591.5-047.000
Related/Affiliated
Company :
Not
available
CAPITAL
AND OWNERSHIP
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Capital
Structure :
Authorized Capital -
Rp. 2,000,000,000.-
Issued Capital -
Rp. 800,000,000.-
Paid up Capital -
Rp. 800,000,000.-
Shareholders/Owners
:
a. Mr. Tji Kok
Sutrisno - Rp.
280,000,000.- (35%)
Address : Jl. Pluit Raya Selatan, Central
Business District Pluit
Blok C No.20
North Jakarta
b. Mrs. Suwarty - Rp. 280,000,000.-
(35%)
Address : Jl. Merdeka No. 333-G
Kebalen, Babelan, Bekasi
West Java
c. Mrs. Rinda - Rp. 80,000,000.- (10%)
Address : Jl. Pulau rupat LK IX, Belawan
Belawan, Medan
North Sumatra
d. Mrs. Haniwaty
Sutrisno - Rp. 80,000,000.- (10%)
Address : Kav. Polisi Republik Indonesia
Blok F I/1445-A, Jagakarsa
South Jakarta
e. Mrs. M e l y - Rp. 80,000,000.- (10%)
Address : Jl. Jemadi Komplek Jemadi Permai I No.7
Jemadi Permai, Medan
North Sumatra
BUSINESS
ACTIVITIES
|
Lines
of Business :
Trading and Distribution of Agricultural Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
January 2018
Brand
Name :
INDO BISNIS INTERNASIONAL
Technical
Assistance :
None
Number
of Employee :
6 persons
Marketing
Area :
Domestic -
100%
Market
Situation :
Very Competitive
Business
Trend :
Growing
BANKER,
AUDITOR & LITIGATION
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Banker
:
P.T. Bank CENTRAL ASIA Tbk
Jl. Raya Kamuk Kamal No. 1-A, Blok DEF
North Jakarta
Indonesia
Auditor :
Internal Auditor
Litigation
:
No litigation record in our database
FINANCIAL
FIGURE
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Annual
Sales/Revenues :
No
Comment
Net
Profit (Loss) :
No
Comment
Payment
Manner :
Unknown
Financial
Comments :
No
Comment
KEY
EXECUTIVES
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Board of Management :
Director -
Mrs. Rinda
Board of Commissioners :
President Commissioner - Mrs. Suwarty
Commissioners - a. Mr. Tji Kok Sutrisno
b. Mrs. Haniwaty Sutrisno
c. Mrs. Mely
Signatories :
Director
(Mrs. Rinda) which must be approved by Board of Commissioners (Mrs. Suwarty,
Mrs. Haniwaty Sutrisno, Mrs. Mely and Mr. Tji Kok Sutrisno)
CAPABILITIES
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Management Capability :
No Comment
Business Morality :
Fairly
OVERALL
PERFORMANCE
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P.T. INDO BISNIS INTERNATIONAL (P.T. IBI) was
established in Jakarta, based on Notary Deed of Sakti Lo, SH., No. 83 dated May
19, 2017 with an authorized capital of Rp. 2,000,000,000.- of which Rp.
800,000,000.- was issued and fully paid up. The founding shareholders of the
company are Mr. Tji Kok Sutrisno (35%), Mrs. Suwarty (35%), Mrs. Rinda (10%),
Mrs. Haniwaty Sutrisno (10%) and Mrs. Mely (10%). The Deed of establishment was approved by the
Minister of Law and Human Rights through its Decree No.
AHU-0025711.AH.01.01.Tahun 2017 dated June 06, 2017. In April 2018, based on notary Deed No. 01
dated April 02, 2018 drawn up by Notary Sakti Lo, SH., concerning notification of the amendment of Article 12 of the Articles of
Association of the Board of Directors and Summon of the Meeting of the Board of
Directors.
This amendment to Deed has been approved by the Minister of Law
and Human Rights of the Republic of Indonesia through its Decree No.
AHU-AH.01.03-0131450 dated April 03, 2018. Since then, no changes have been
effected in term of its shareholding composition and capital structure to date.
In accordance with article 3 (three) of the articles of association contained in the deed of establishment, the scope of activities of the Company is primarily in trading, development, industry, transportation, workshop and services. Pursuant to Notary Deed, the Company’s registered office located at Komplek Jakarta Distribution Centre, Jl. Kapuk Kamal Raya No. 40, Blok E/1, RT.001/RW.002, Kamal Muara sub-district, Penjaringan district, North Jakarta and the company can open branch offices or representative offices at home and abroad. In fact, the company is engaged in trading and distribution of agricultural products especially groundnut kernels. The company imports all (100%) the agricultural products (groundnut kernels). The Company has been in operation since January 2018. We observed that P.T. IBI is still relatively new company in the business.
In overall we find the demand for
agricultural products like groundnut kernels has been rising by the average 5%
to 6% per year within the last five years.
The solid and steady domestic economy, Indonesia with the rising of
Country Rating to Investment Grade, and also supported by Indonesia’s economic
indicators such as inflation, exchange rates and interest rates are expected to
encourage the business sectors.
Macroeconomic indicators from China showed downward
trend. In contrary, macroeconomic
indicators of the US and India showed improvement. Both of these indicated continued
uncertainties. The global economic crisis that accompanied the decline
of the Indonesian Rupiah (IDR) against the US Dollar in the past two months,
resulting in Indonesian people's purchasing power declined sharply. The value
of the Rupiah from Rp. 11,800.- per US dollar at the end of 2014, has now
slumped to Rp. 13.700 per US Dollar.
Table of Indonesian Economic Indicators from 2012
to 2016
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Indonesian
Economic Indicators |
2012 |
2013 |
2014 |
2015 |
2016 |
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Gross Domestic Product (PDB) |
6.0 |
5.6 |
5.0 |
4.8 |
5.0 |
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Consumer Price Index |
4.3 |
8.4 |
8.4 |
3.4 |
3.2 |
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Government Debt |
27.3 |
28.7 |
24.7 |
27.0 |
26.5 |
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Exchange Rate (IDR/USD) |
9,419 |
11,563 |
11,800 |
13,400 |
13,300 |
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Current Account Balance |
-2.8 |
-3.3 |
-3.1 |
-2.1 |
-2.1 |
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Population (in millions) |
247 |
250 |
253 |
255 |
258 |
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Poverty (percentage of population) |
11.7 |
11.5 |
11.0 |
11.1 |
10.9 |
|
Unemployment (percentage of workforce) |
6.1 |
6.3 |
5.9 |
6.2 |
5.6 |
|
Reserves (in billion USD) |
112.8 |
99.4 |
111.9 |
105.9 |
111.4 |
The financial condition of the company is appraised
to be less strong and its financial condition at present is as the paid up
capital of Rp. 800,000,000 as stated in the articles of association of the
company. The financial condition of the company still depends on the financial
condition of its shareholders. The
management of P.T. IBI is very reclusive towards outsiders and rejected to
disclose its financial condition. So far, we did not heard that the company
having been black listed by the Central Bank (Bank Indonesia).
The management of P.T. IBI is led by Mrs.
rinda (35) as director and CEO of the company.
In his daily activities, he is assisted by Mrs. Suwarty (46) as
president commissioner and three commissioners namely Mr. Tji Kok Sutrisno (18,
Mrs. Haniwaty Sutrisno (42) and Mrs. Mely (47).
We don’t know much about his reputation in the business. 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.
Since this company
(P.T. IBI) just about four months in operation commercially, so we recommend
caution when going to provide fresh loans to them. Or it should obtain sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.11 |
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|
1 |
INR 90.85 |
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Euro |
1 |
INR 80.12 |
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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
: |
VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.