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MIRA INFORM REPORT
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Report No. : |
509377 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
C.V. NUANSA TARU BALI |
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Registered Office : |
Jalan Kembang Matahari I No. 83, Kasiman, Denpasar
Timur, Denpasar, 80239, Bali Province |
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Country : |
Indonesia |
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Date of Incorporation : |
2011 |
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Legal Form : |
C.V. (Commanditaire Vennootschap) or
Partnership with Sleeping Partners |
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Line of Business : |
Wooden Furniture
& Woodworking and Handicraft Exporter |
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No. of Employees : |
12 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 |
Company
name and Address
C.V. NUANSA TARU BALI
Head Office
Jalan Kembang Matahari I No. 83
Kasiman, Denpasar Timur
Denpasar, 80239
Bali Province
Indonesia
Phone -
(62-361) 226870
Fax - (62-361) 226870
E-mail - cv.nuansatarubali@yahoo.com
dw_nuansabali@yahoo.com - cv.dewataru@gmail.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Factory
Gang Tlutug Sari No. 8
Sumerta Kelod, Denpasar Timur
Denpasar, 80239
Bali Province
Indonesia
Land Area - 1,200 sq.
meters
Building Space - 800 sq. meters
Region - Commercial
Status - Rent
Company
summary
Date of Incorporation
:
2011’s
Legal Form :
C.V. (Commanditaire Vennootschap) or
Partnership with Sleeping Partners
Company Reg. No. :
Not Required
Company Status :
Private National Company
Permit by the Government Department :
Not Available
Related Companies :
None
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 300 million
Shareholders/Owners :
a. Mr. Dewa Wirayudha (Active Partner)
b. Mrs. Rupatni Wirayudha (Silent Partner)
BUSINESS
ACTIVITIES
Lines of Business :
Wooden Furniture
& Woodworking and Handicraft Exporter
Production Capacity :
Wooden Furniture,
Handicraft - 2,262 cubic meters
p.a.
Total Investment :
None
Started Operation :
2011’s
Brand Name :
Nuansa Taru Bali
Technical Assistance
:
None
Number of Employee :
12 persons
Marketing Area :
Local - 100%
Main Customer :
Buyers in Singapore, Europe
and USA
Market Situation :
Very Competitive
Main Competitors :
a. C.V. BALI CIPTA
SARANA
b. C.V. BALI TREASURE
c. C.V. MERTHA BUANA
DEWATA
d. C.V. KAMBUNA JAYA
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
B a n k e r :
P.T. Bank MANDIRI Tbk
Jalan Udayana No. 11
Denpasar Timur, Denpasar
Bali Province, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2015 – Rp. 7.6 billion
2016 – Rp. 8.0 billion
2017 – Rp. 8.5 billion
Net Profit (estimated) :
2015 – Rp. 0.4 million
2016 – Rp. 0.5 million
2017 – Rp. 0.6 million
Payment Manner :
Slow but correct
Financial Comments :
Fairly strong
KEY
EXECUTIVES
Board of
Management :
Director - Mr. Dewa Wirayudha
Board of
Commissioners :
Commissioner - Mrs. Rupatni
Wirayudha
Signatories
:
Director
(Mr. Dewa Wirayudha) is only the authorized person to sign the loan on behalf
of the company
CAPABILITIES
Management
Capability :
Good
Business
Morality :
Good
OVERALL
PERFORMANCE
Based on search and verification the Subject telephone
number (62-361) 8072001 has yet been used (revoked). According information from
C.V. NUANSA TARU BALI explained the telephone number has been revoked by
TELKOM, Bali.
C.V. NUANSA TARU BALI (C.V. NTB) was set-up in Denpasar,
Bali Province in 2011’s with the legal status of CV. (Commanditaire
Vennootschap) or partnership with sleeping partners. The founder and owner of
the company are Mr. Dewa Wirayudha as active partner and his wife Mrs. Rupatni
Wirayudha as silent partners both are indigenous business family of Bali
tribes. Being as a C.V. company status the amount of its capitalization was not
mentioned at the time of its establishment. We estimate, C.V. NTB has own
capital of about Rp. 300 million and it will be rising in line with the
progress of its business operation.
C.V. NTB is a small sized company started with operating
in 2011’s dealing with wooden furniture, woodworking, handicrafts exporter. The
company manages a workshop (factory) located at Gang Tlutug Sari No, 8, Sumerta
Kelod, Denpasar Timur, Denpasar, Bali Province standing on a land of 1,200 sq.
meters. According information the company produce of furniture (indoor), wooden
door, wooden window, cupboard and others. Most of raw materials like logs
obtained from Bali, East Java and others. Besides, the company also obtained
handicraft like marble stone, stone statue, stone pebbles and other from Bali
and surroundings. According information the whole products exported to
Singapore, Europe Union and the USA. We observe C.V. NTB is classified a small
sized company of its kinds in the country with operation has been developing
well in the last three years.
Generally the demand for furniture products has basically
been increasing in the last five years. However, the lack of woods as the basic
materials becomes serious problem faced by wooden furniture producers.
Therefore, lots of wooden furniture producers unable to fulfill the market
demand. Besides, the price of woods in the country has highly been increasing
in the last several years. In addition, the tight government policy in wooden
products seems to burden the wooden product industries. The demand for wooden
furniture products is estimated to be rising next year. However, the lack of
woods and high prices of woods are estimated to influence the performance of
wooden furniture products.
The Export Volume and
Value of Indonesian Wooden Furniture, 2010 – 2017
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Year |
Volume
(Thousand Ton) |
Value
(US$ Million) |
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2010 |
565.1 |
1,355.2 |
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2011 |
453.3 |
1,134.2 |
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2012 |
447.9 |
1,177.8 |
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2013 |
427.1 |
1,203.2 |
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2014 |
444.3 |
1,277.4 |
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2015 |
437.1 |
1,352.2 |
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2016 |
463.3 |
1,433.3 |
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2017 |
560.3 |
1,744.0 |
Until this time C.V. NTB 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. 7.6 billion
increased to Rp. 8.0 billion in 2016 rose to Rp. 8.5 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. 0.6 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 C.V. NTB is led by Mr. Dewa Wirayudha
(48), a businessman with experienced in wooden furniture, woodworking and
handicraft exporter. He graduated and holds bachelor degree in Economy from
Undayana University, and master degree (Magister Management) in Management from
Warmadewa University, Denpasar, Bali Province. 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. C.V. NUANSA TARU BALI 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 67.72 |
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1 |
INR 91.65 |
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Euro |
1 |
INR 79.89 |
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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 : |
SYL |
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
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Company
background and operations size
·
Promoters
/ Management background
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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.