|
|
|
MIRA INFORM REPORT
|
Report No. : |
506278 |
|
Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PD. RUPA JAYA TEXTILE |
|
|
|
|
Registered Office : |
Jl. Mangga Dua Raya Ruko Textile, Block E-1
No.12-A Mangga Dua Selatan, Sawah Besar district Jakarta Pusat 10730 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Trading
and Distribution of Textile Products |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
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. RUPA JAYA TEXTILE
Address :
Head Office
Jl. Mangga Dua Raya Ruko Textile, Block E-1
No.12-A
Mangga Dua Selatan, Sawah Besar district
Jakarta Pusat 10730
Indonesia
Phone -
(62-21) 6014234, 6014243, 6014245
Fax - (62-21) 6016058
Email - btsindia@gmail.com
Building Area - 3
storey
Office Space - 160
sq. meters
Region -
Commercial
Status -
Owned
Date of Incorporation :
2000’s
Legal Form :
P.D. (Perusahaan Dagang) or Sole Proprietorship
Company Reg. No. :
Not required
Company Status :
Private Company
Permit by the Government Department :
The Department of Finance
Not available
Related Company :
Not available
CAPITAL
AND OWNERSHIP
Capital Structure :
Owned Capital -
Rp. 800 million
Founder and Owner :
Mr. Mohan H. Dodani - 100%
BUSINESS
ACTIVITIES
Lines of
Business :
Trading and
Distribution of Textile Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2000
Brand
Name :
Rupa Jaya
Textiles
Technical
Assistance :
None
Number of
Employee :
10
persons
Marketing
Area :
Local - 100%
Main Customers
:
Tailor
made, textile trader and shops in Jakarta and surroundings
Market
Situation :
Very
Competitive
Main
Competitors :
a. DUNIA
LARIS
b.
GANESHA JAYA
c. MAJU JAYA Toko
d. RANI TEX, Etc
Business
Trend :
Growing
BANKER,
AUDITOR & LITIGATION
Bankers :
b. P.T. Bank CENTRAL ASIA Tbk
Mall Mangga Dua Blok No. 12A
Jl. Mangga Dua Raya
Jakarta
Utara
Indonesia
a. P.T. Bank MANDIRI Tbk
Mall Mangga Dua, Ground
Floor No. 25A
Jl. Mangga Dua Raya
Jakarta
Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2013 – Rp. 21.0 billion
2014 – Rp. 24.0 billion
2015 – Rp. 26.5 billion
2016 – Rp. 28.2 billion
2017 – Rp. 30.0 billion
Net Profit (estimated) :
2013 – Rp. 1.6 billion
2014 – Rp. 1.8 billion
2015 – Rp. 2.0 billion
2016 – Rp. 2.2 billion
2017 – Rp. 2.3 billion
Payment Manner :
No Complaints
Financial Comments :
Fairly
KEY
EXECUTIVES
Board of Management :
Director -
Mr. Mohan H. Dodani
Board of Commissioners :
Member - None
Signatories :
Director (Mr. Mohan H. Dodani) is only the authorized person to
sign the loan on behalf of the company.
CAPABILITIES
Management Capability :
Fairly
Business Morality :
Fairly
OVERALL
PERFORMANCE
|
P.D. RUPA JAYA TEXTILES was
incorporated in Jakarta in 2000’s with the legal status of P.D. (Perusahaan
Dagang) or Sole Proprietorship. The
founding owner of the company is Mr. Mohan H. Dodani, an Indonesian businessman
of Indian descent. As in common in cases
of companies with sole proprietorship or Partnership with sleeping partner,
there is no mention in the company’s notary act of its capital structure. But going by the company’s conditions, we estimate
its capital at some Rp. 800 million. But
we have strong reason to believe that the capital invested in the company is
now much bigger.
P.D. RUPA JAYA TEXTILES known by its trading style “RUPA
JAYA” has been operating since 2000 dealing with the trading and distribution
of textile products. The Company’s
office and shop located at Jl. Mangga Dua Raya, Ruko Textile, Block E-1 No.12A,
Mangga Dua Selatan, Sawah Besar district, Central Jakarta 10730, Indonesia. According information the retails
sells of various textile products for woman, lady’s and man’s with various
types among others are denims, clothes, polyester and cotton fabrics, silk and
wool fabrics, garments and others. Mr.
Vasandani, a marketing staff of the company explained that some of the textile
products mostly import from China, India, Korea (90%) and the rest for locals
(10%). The whole products sold through
tailor made, trader and shops and individuals in Jakarta and surroundings. We
observe that “RUPA JAYA” is a medium-size company of its kinds which its
operation has been growing slowly in the last one year.
Generally, the demand for
textile and textile products tended to be fluctuating within the last five
years in line with the fluctuating of Indonesian textile industry in
general. According to the Central Bureau
of Statistics (BPS) the Indonesia garment export in 2010 amounted to 445.2
thousand tons (US$.6,598.0 million) increased to 450.9 thousand tons
(US$.7,801.5 million) in 2011 to 450.2 thousand tons (US$.7,304.8 million) in
2012 to 470.2 thousand tons (US$.7,501.0 million) in 2013 declined to 463.9
thousand (U$.7,450.0 million) in 2014 and declined again to 378.6 thousand tons
(US$.6,410.9 million) in 2015 and rose again to 425.9 thousand tons
(US$.7,212.6 million) in 2016.
The export volume and value of
the national garment and textile products in 2002 to 2016 are pictured on the
following table.
|
Year |
Garment |
Textile
Product |
||
|
(Thousand
Ton) |
(US$
Million) |
(Thousand
Ton) |
(US$
Million) |
|
|
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 |
333.1 339.9 327.3 369.5 399.6 399.8 417.6 393.4 445.2 450.9 450.2 470.2 463.9 378.6 425.9 |
3,887.2 4,037.9 4,351.9 4,967.0 5,608.1 5,712.9 6,092.2 5,735.6 6,598.0 7,801.5 7,304.8 7,501.0 7,450.9 6,410.9 7,212.6 |
1,425.9 1,307.5 1,300.4 1,427.3 1,477.8 1,473.6 1,312.2 1,369.6 1,525.9 1,493.3 1,508.5 1,633.1 1,815.6 1,481.7 1,563.9 |
3,075.9 3,064.6 3,354.6 3,704.0 3,908.6 4,178.0 4,127.9 3,602.8 4,721.8 5,563.3 5,278.1 5,293.6 5,379.9 4,415.0 4,660.0 |
Until this time RUPA JAYA has
not been registered with Indonesian Stock Exchange, so that they shall not
obliged to announce their financial statement. Therefore, the company has no obligation
to publish financial statement publicly. We have checked to Department of Trade
and Industry and found that no financial statement has been reported. RUPA
JAYA’s management is very reclusive to outsider and rejecting to disclose its
financial condition but we estimated the total sales turnover of the company in
2015 amounted to Rp. 26.5 billion increased to Rp. 28.2 billion in 2016 and
rose again to Rp. 30.0 billion in 2017.
The operation in 2017 yielded a net profit at least Rp. 2.3 billion and
the company has a total net worth of Rp. 12.0 billion. It is projected that total sales turnover of
the company will increase at least 8% in 2018. So far we did not hear that the Company has
been black listed by Bank Indonesia (Central Bank) or having detrimental cases
being settled in local district court.
The company usually pays its debts punctually to suppliers.
The management of RUPA JAYA is led by Mr.
Mohan H. Dodani (48) a businessman with more than 18 years experienced 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.
PD. RUPA JAYA TEXTILE or RUPA
JAYA is appraised to be good for business transaction. However, in view of the
economic condition in the country is still unstable, we recommend to treat
prudently in extending any new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
|
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.