CREDIT MEMORANDUM

Name : Syalendra Kapela (Toko Angkringan Baby Shop)

Product : Term Loan Financing
Business Line : Fast Moving Consumer Goods (FMCG) – Diapers, Milk and Baby
Stuff
Area : Karawang Area
Facility PIC : Faurika Nidia Andini – Business Development
Propose Supply Chain Financing : IDR 250.000.000
Number : Risk/CM/278/X/2023
Borrower’s Quadrant : Surrogate
Referred by : Ex BD’s borrower in Awan Tunai

I. Purpose

Currently, we are going to onboard Syalendra Kapela to become Boost ID’s borrower with a
loan scheme Term Loan Facility for additional working capital.

Below is the proposed limit of Syalendra Kapela from business team:

Product : Term Loan (New)
Loan Limit : IDR 250.000.000
Tenure : 6 months
Interest : 2% flat, monthly deducted (principal and interest)
Grace period : 4 days
Penalty : 2% for DPD 1 – 4 days (prorate), 5% for DPD > 4 days (prorate)
Purpose : Additional Working Capital

II. Customer Details

a. Resume and Background
Syalendra Kapela (Toko Angkringan Baby Shop) is a sub distributor of fast-moving
consumer goods (FMCG) located at Karawang – West Java. Syalendra Kapela (key person)
has been running this business since 2019 with initial capital from his parents who also
own FMCG business (in another area). The borrower’s products are Diapers, Milk and Baby
Stuff.

Borrower has one store/warehouse (owned by parents) located at Desa Krajan, Tanjung
Mekar, Karawang Barat, Karawang, West Java. Borrower has three employees and one
operational vehicle.

Their buyers consists of traders/semi wholesaler (50%) and retailers (50%) with marketing
area in Karawang. Customer’s transaction is 100% by cash.
Borrower has several principals located in Jabodetabek, such as:
 b. Company Management

Name Position Share % NIK

Amount (IDR)
Syalendra Kapela Key Person (Owner) - - 3215010607930010
Notes:
▪ Mr Syalendra Kapela is key person of Toko Angkringan Baby Shop (marital status: single)

c. FDC Result
FDC Result for Syalendra Kapela as of Sept 25, 2023:

Notes:
borrower has 2 loan outstanding in P2P lending, IDR 300 mio in Awan Tunai and IDR 350 mio in
Pinjam Modal. Based on information from borrower that both loan facilities are SCF which
registered principal is PT Ardi Mart Indonesia.

d. Pefindo Result (as of 15 Aug 2023)

▪ Pefindo result for Syalendra Kapela: all open contract is in coll 1 and the worst arrears in
the last 12 months is 15 days (working capital in Awan Tunai/funding constraint). Total
outstanding of active loans is IDR 1 bio, with details as following:

Notes:
- OCBC loan are institutional funder of Awan Tunai
- BFI Finance loan is Pinjam Modal loan
e. Financial Data
Sales Data based on credit turn over in Bank Statement, with details as below:

➢ Profitability Analysis

Summary:

▪ Average sales 2023 is around IDR 627 mio

▪ Based on information from borrower that gross margin is around 5% of sales (COGS for
wholesaler 2% – 3%, while retailer 8% – 10%)
▪ Operational expenses is around 1% of sales
▪ Borrower can maintain their positive operating profit on period Feb – Aug 2023 with amount
IDR 175 mio
▪ Details of INV, AR and AP as of Aug 2023 based on information from borrower on VT:
 DSCR Calculation:

DSCR = 1,07 (> 1), It means that the borrower’s business still can cover their obligation

f. Historical with Boost ID

No historical with Boost ID since this is new borrower.

g. Bank Account Data

Data of bank account compile from period Feb – Aug 2023
- Mandiri – 1730009731929 on behalf of Syalendra Kapela (non Giro account)

Summary:
▪ Payment transaction/incoming from buyers reflected on Mr. Syalendra’s account which mostly
incoming from individual and cash deposit
▪ Purchase to suppliers also reflected on Mr Syalendra Kapela’s account such as PT Sayap Mas
Utama, PT Tigaraksa Satria Tbk and Desi Nurul (on behalf of PT Ardimart Indonesia)
▪ Based on netting to borrower’s bank account, total average credit turn over on period Feb – Aug
2023 is IDR 627 mio
h. Facility of WI from Bank/Financial Institutions:

Based on Pefindo and FDC result, borrower has WC loan facility in several financial institutions:
Awan Tunai = IDR 300.000.000
Pinjam Modal = IDR 350.000.000
Total = IDR 650.000.000

i. Site Visit Result

VT by Business
and Risk Team
on Aug 22, 2023:
1. Mrs.
Faurika
(BD)
2. Asry (CM)
3. Mr.
Syalendra
Kapela
(Key
Person)
i. We calculate Working Investment (WI) needed as of Aug 2023 is 15% of total credit turn over Feb
– Aug 2023 based on bank statement or 15% of 7.530.055.130. The WI need calculation, as below:

Summary:
- The proposal of new TL for IDR 250 mio is still reasonable based on WI need calculation is
IDR 1,1 bio
- New TL IDR 250 mio with tenor 6 months and total installment (interest and principal)
around IDR 46.666.667
j. Trade Checking
Boost ID have conducted trade checking with the principal with the following result:
Contact Person Date Result
Mr. Arizal (Sales of PT 25 Sept 2023 ▪ Syalendra Kapela is one the sub-distributor of
Sayap Mas Utama) PT Sayap Mas Utama to distribute their
+62 895-3382-53859 products (Diapers and Baby Stuff)
▪ Borrower has in business with PT Sayap Mas
Utama for around 3 years
▪ Syalendra Kapela has a good performance so
far with average purchase per month is
around IDR 200 mio
▪ There was no delay payment from Syalendra
Kapela
▪ The payment using bank transfer to company
bank account and also by cash to Sales
▪ The TOP is cash and max 14 days

Mr. Agung (Spv of PT 25 Sept 2023 ▪ Syalendra Kapela is one of the sub distributor
Tigaraksa Satria Tbk.) of PT Tigaraksa Satria Tbk. to distribute their
+62 821-1101-1810 products (milk such as SGM and Nutrilon)
▪ Borrower has in business Tigaraksa Satria Tbk.
for around 3 years
▪ Syalendra Kapela has a good performance so
far with average purchase per month is
around IDR 100 mio – IDR 200 mio
▪ There was no delay payment from Syalendra
Kapela
▪ The payment using bank transfer to company
bank account and also by cash to Sales
▪ The TOP is cash and max 12 – 14 days

Trade checking result from those principals is positive

Risk Identification

Aspect Description Mitigation

Management Management experience Key person has more than 10 years of
experience in this industry. Key person started
the FMCG business since 2013. Key person has
good track record

Sales and marketing Competitiveness in the FMCG industry still competitive as majority of
market their products are primary needs (baby needs)
which mostly has stable demand

Borrowers fail to make - Trade checking to principal must be

Credit risk repayment on time as per clear (no negative information
due date. regarding borrower)
 - Submitting Post Dated Cheque
(PDC)/Cheque to execute repayment in
case of default.
- Compared to WI need, Boost ID finance
47%

Internal Credit Scoring

 III. Recommendation

No Borrower Loan Proposed Facility Admin Fee & Tenure Grace Month
Total Limit period Propose
Syalendra Additional Working Term Loan 2% flat, monthly 4 days Oct
1 Kapela Capital IDR 250.000.000 deducted (principal 2023
and interest),

6 months

Covenants:
1. Must submit valid postdate cheque/ bilyet giro/cheque ino Mr Syalendra Kapela for
execution of repayment (adjusted to monthly installment amount)
2. The expected numbers on the new giro account (credit transaction) must reflect at least 100%
of Boost loan limit amount (started a month after first disbursement). If borrower can’t provide
the result of their commitment (for the transition) then there won’t be re-disbursement loan.
Requested By:
Department Manager Signature Date
Credit Manager Asry Batubara 12.10.2023

Approved By:
Department Manager Signature Date
Head of Risk Albertus Haryo