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MIRA INFORM REPORT
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Report No. : |
509042 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PT. SKMP INTERNASIONAL INDONESIA |
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Registered Office : |
The City Tower level 12 Unit 1N, Jl. MH Thamrin No. 81 Kelurahan
Menteng, Kecamatan Menteng Kota
Jakarta Pusat 10310 DKI Jakarta |
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Country : |
Indonesia |
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Financials (as on) : |
2017 (Summarized) |
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Year of Establishment : |
2014 |
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Com. Reg. No.: |
AHU-AH.01.03-0170357 |
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Legal Form : |
Private Limited Liability Company or Perseroan Terbatas (PT) |
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Line of Business : |
Subject is engaged in Wholesale of grain, unmanufactured tobacco,
seeds and animal feeds. |
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No. of Employees : |
20 |
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 |
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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
IDENTIFICATION
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Company
Name |
PT.
Skmp Internasional Indonesia |
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Address
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The
City Tower level 12 Unit 1N, Jl. MH Thamrin No. 81 |
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Telephone
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+622129222992
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Fax
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+622129222972
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Mobile
Phone |
N.A.
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Email
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info@skmp-indonesia.co.id |
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Web
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www.skmp-indonesia.co.id |
PROFILE
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Address
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The
City Tower level 12 Unit 1N, Jl. MH Thamrin No. 81 |
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Office
Building |
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Date
of Establishment |
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Start
Operation |
2014
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Legal
Status |
Private
Limited Liability Company or Perseroan Terbatas (PT) |
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Legalization
(historical) |
No.
AHU-01879.40.10.2014 |
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Government
Permit (s) |
Kementerian
Perdagangan |
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Significant
change |
PT.
SKMP Internasional Indonesia (the Company) was established in 2014
in Central Jakarta - DKI Jakarta. Up to the completion of this report,
however, we are unable to obtain the establishment act of the Company; so
that we cannot show you details about its initial capitalization and
shareholder structure. On
April 27, 2018, there was a change in the notarial act with the
authorized capital of IDR 5,000 million, with issued and paid up
capital of IDR 2,500 million. The structure of shareholder were Ms. Yeni
Diah Neswari (70.000%) and Mr. Mohamad Arief Karim (30.000%). As
far as we know, there has been no more change in the Company’s notarial
act as published by the Ministry of Justice. |
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Capitalization
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SHAREHOLDERS
& MANAGEMENT
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Shareholders
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Total
No. of Shareholders: 2 |
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Name
of Shareholders |
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Name
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Ms.
Yeni Diah Neswari |
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Position
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President
Director |
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Nationality
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Indonesian
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Name
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Mr.
Kazi Najiroddin Nafijoddin |
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Position
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Director
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Nationality
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Indian
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Name
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Mr.
Mohamad Arief Karim |
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Position
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Commissioner
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Nationality
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Indonesian
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Management
Assessment |
The
management is deemed to have sufficient experience and industry expertise to
manage subject properly. |
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Authorized
Signatories |
Ms.
Yeni Diah Neswari as President Director and Mr. Kazi Najiroddin Nafijoddin as
Director of the Company which must be approved by shareholder meeting. |
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Affiliate
(s) / Associate (s) |
N.A.
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KEY
DATA ON OPERATIONS
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Registered
Activities |
SIC
Code 46 : Wholesale trade, except of motor vehicles and motorcycles |
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Employee
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Per
2018 |
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Business
Category |
SIC
Code 46.2 : Wholesale of agricultural raw materials and live animals |
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Line
of Business |
SIC
Code 46.21 : Wholesale of grain, unmanufactured tobacco, seeds and animal
feeds |
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Product
& Capacity |
N.A.
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Status
of Investment |
Non-facilities
based Company |
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Sales
Territory |
Local
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100%
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International
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00%
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Main
Items Imported |
Crops |
India |
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Main
Items Exported |
-
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-
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Major
Customers |
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Major
Supplier |
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Terms
of Payment |
Purchase
Payment |
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Activity
Comment |
For
information, the correct name of the Company is not PT. SKMP
International but, PT. SKMP Internasional Indonesia. PT. SKMP
Internasional Indonesia (the Company) is a non-facilities based
company that is engaged in the wholesale of crops. It has been operating
since 2014. The head office and registered address of the Company are located
at The City Tower level 12 Unit 1N, Jl. MH Thamrin No. 81, Kelurahan
Menteng, Kecamatan Menteng, Kota Jakarta Pusat, DKI Jakarta, Indonesia. We
believe that the location is leased from another party. Based
on our investigation, in its initial operation in 2014, the Company was
engaged as an importer of aluminium paste and powder from India for the needs
of concrete, brick and steel industries in Indonesia. However,
in late 2017, the Company changed its business as the importer of crops such
as onions, peanuts, dried chili, grapes and sesame seeds. In addition, the
Company also sells charcoal products from local suppliers. In
its operation, the Company imports crops from India such as from Hafiz Agro
international Pvt. Ltd. of India. As for charcoal products supplied from
suppliers in the region of Gorontalo. Then,
the Company distributes the product to local distributors in Indonesian
territory. However, the source was refused to tell more about the current
customer name. According
to the source, the Company's operational performance throughout 2016 was
pretty good. Sales of aluminium paste and powder were still pretty good.
However, in 2017, the sales of these products was greatly reduced due to the
economic slowdown and high product prices. In addition, many manufacturers
import the aluminium paste and powder raw materials by themselves, so the
Company decided to change its business as importer of crops. Until
the second quarter 2018, the Company is still operating quite well although
the sales have not been maximized because the Company is considered new in
the crops business and still do not have many customers. However, the Company
continues to expand its market to various distributors throughout Indonesia. |
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Litigation
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At
the time of writing this report, this Company has not been involved in any
criminal or civil cases. This statement is based on the search result for cases
conducted at the State Court in the area, where the Company was established
and operates today. |
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BANKING
INFORMATION
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Banker
(s) |
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Insurance
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BUSINESS
PROSPECTS
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Business
Prospects |
Imported
peanuts, mostly imported from India and Thailand are dominate the local
market. Monitoring in some markets, on average, traders sell more imported
peanuts than local peanuts and the ratio reached 80% compared to 20%. In
addition, imported peanut prices are cheaper than local peanuts. On average,
imported peanut prices range from IDR 18,000- IDR 20,000 per kg, while local
peanuts are pegged at IDR 25,000 per kg. Although
it is predicated as an agricultural country, but Indonesia still needs to
import vegetables and fruits from abroad. Central Bureau of Statistics (BPS)
noted that imports of various vegetables and fruits Indonesia is still high.
Throughout January-February 2017, the imports of vegetables by Indonesia
totaled 148,216 tons valued at USD 148.58 million. Meanwhile, imports of
fruits in the period January-February 2017 amounted to 161,402 tons valued at
USD 233.44 million. Similar like vegetables, the largest imported fruits are
also coming from China with total volume of 96,737 tons (USD 137.36 million).
Meanwhile the rest is coming from Thailand, Pakistan, the United States,
Egypt, and others. Based
on the above information, it shows that demand for imported peanuts,
vegetables and fruits is still quite high. |
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FINANCIAL
STATEMENT
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Sales
Turn Over |
2015
- IDR 12,500,000,000 (Estimated) |
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Total
Assets |
As
the Company is not a publicly listed company, we are unable to give a
detailed picture of the financial condition of the Company. |
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Other
Financial Data |
As
the Company is not a publicly listed company, we are unable to provide
details on the financial condition of the Company. |
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CREDITWORTHINESS
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Management
Capability |
Adequate
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Business
Morality |
Adequate
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Payment
Manner |
Satisfactory
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Financial
Condition |
Satisfactory
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Operating
Trend |
Fluctuated
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Conclusive
remarks |
Based
on the information shown above, we learned that currently the Company is
engaged as the importer of crops such as onions, peanuts, dried chili, wine
and sesame seeds. In addition, the Company also sells charcoal products from
local suppliers. The Company distributes products to local distributors in
Indonesia. As
we know, the Company's operational performance was fluctuating over the past
three years. The Company also changed the business from be importer of
aluminium into importer of crops in 2017. Meanwhile, demand for imported bean
products from India is still very high and also for imported vegetables and
fruits, so we believe that the Company is still prospective in the
future. For
security reason, we advise those wishing to cooperate with or grant loans to
this Company to keep asking for adequate collateral from its
shareholders. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.71 |
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1 |
INR 91.89 |
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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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PRI |
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Report Prepared
by : |
DNS |
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.