MIRA INFORM REPORT
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Report Date : |
11.04.2006 |
IDENTIFICATION DETAILS
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Name : |
P.T. GEMILANG MITRA LESTARI |
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Registered Office : |
Jalan Kebon Jeruk, Ruko
Taman Kebon Jeruk Block A-11/34, Jakarta Barat, Indonesia |
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Date of Incorporation : |
19
October 1994
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Com. Reg. No.: |
No. C2-11.972 HT.01.04.TH.98 |
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Legal Form : |
P.T. (Perseroan Terbatas) or Limited
Liability Company |
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Line of Business : |
General Trading, Export and Import |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Name of company
P.T. GEMILANG MITRA LESTARI
Address
Head Office
Jalan Kebon Jeruk
Ruko Taman Kebon Jeruk Block A-11/34
Jakarta Barat
Indonesia
Phone - (62-21) 586-2047(Hunting)
Fax. - (62-21) 585-1904
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
19 October 1994
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
No. C2-11.972 HT.01.04.TH.98
Dated 24 August 1998
Company Status :
Private Company
Permit by the Government
Department :
The Department
of Finance
NPWP No. 1.691.480.6-026
The Department of Industry & Trade
TDP No. 09051629568
Dated 23 February 1999
Related Company :
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 500,000,000.-
Issued Capital : Rp. 155,000,000.-
Paid up Capital : Rp. 155,000,000.-
Shareholders/Owners :
a. Mr. Drs. Willy Widijanto
Wijanto - Rp. 60,000,000.-
Address : Jl. Jayapura No. 21, RT. 01 /RW. 14
Kel. Cimone, Kec. Tangerang,
Banten Province
b. Mr. Adje Susanto -
Rp. 60,000,000.-
Address : Taman Pluit Kencana Utara No. 2
RT. 009 /RW. 006, Kel. Pluit, Kec. Penjaringan
Jakarta Barat
c. Mr. Filipi Djauhari -
Rp. 35,000,000.-
Address : Kavling Kepolisian Republik Indonesia
Block H-VI, RT. 004/ RW. 006, Kel. Wijaya Kusuma
Kec. Grogol Petamburan, Jakarta Barat
BUSINESS ACTIVITIES
Lines of Business:
General Trading, Export and Import
Production Capacity :
None
Total Investment :
a. Equity Capital - Rp. 500 million
b. Loan Capital - Rp. -- million
c. Total Investment - Rp. 500 million
Started Operation :
1995
Brand Name :
None
Technical Assistance :
None
Number of Employee :
8 persons
Marketing Area :
Domestic (Local) - 100 %
Main Customer :
a. Manufacturing Industries
b. Cement Manufacturing
c. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. WIDE ACTION JAYA
b. P.T. BINA SURINDAH CEMERLANG
c. P.T. ANALIMEX PRATAMA
d. P.T. INDOPORLEN SAKTI
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Taman Kebon Jeruk
Jl. Kebon Jeruk
Jakarta Barat, Indonesia
b. P.T. Bank BUANA INDONESIA Tbk.
Jl. Yos Sudarso No. 43
Cirebon 45111, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2002 – Rp. 6.0 billion
2003 – Rp. 6.5 billion
2004 – Rp. 7.0 billion
2005 – Rp. 7.5 billion
Net Profit (Loss) :
2002 – Rp. 380 million
2003 – Rp. 400 million
2004 – Rp. 450 million
2005 – Rp. 500 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President
Director - Mr. Drs. Willy
Widijanto Wijanto
Director - Mr. Filipi
Djauhari
Marketing
Manager - Mr. Edwin Wiyanto
Board of Commissioner :
Commissioner -
Mr. Adjie Susanto
Signatories :
President Directors (Mr. Drs. Willy
Widijanto Wijanto) or the Director (Mr. Filipi Djauhari) which must be approved
by the Board of Commissioner (Mr. Adjie Susanto)
CAPABILITIES
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit
should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
Maximum Credit Limit :
US$ 55,000.- on the 90 days of payments
OVERALL PERFOMANCE
P.T. GEMILANG MITRA
LESTARI (P.T. GML) was established on October 19, 1994 with the authorized
capital of Rp. 500,000,000,- and the subscribed capital of Rp
100.000.000,- which was fully paid up. The founders and the shareholders of the
Company are Drs. Willy Widijanto Wijanto, Mr. Filipi Djauhari, Mr. Adjie
Susanto who are Indonesian businessmen of Chinese descent and Mr. Muhamad
Zulham, SE., who are indigenous businessman.
Deed of notary of the company was made by
Mr. Djedjen Widjaja, SH., a public notary in Jakarta. On March 5, 1998, the
subscribed capital was raised to Rp. 155.000.000,- which was fully paid up.
Since that time, Mr. Muhamad Zulham resigned as the shareholder and he sold all
of his shares to Mr. Drs. Willy Widijanto Wijanto and Mr. Adjie Susanto
mentioned above. Deed of amendment of the company was made by Mr. Drajat
Darmaji, SH., a public notary in Jakarta under Company Registration Number
C2-11.971.01.04.TH. 1998, dated August 24, 1998. We observed that Mr. Drs.
Willy Widijanto Wijanto owns majority shares.
P.T. GML has operated its business since
1995 in the field of general trading, export and import. We observed that the
company’s office is located at Taman Kebon Jeruk Block A-11/34, Kebon Jeruk, a
shop-house (ruko) area in West Jakarta. Mr. Edwin Wiyanto (son of Mr. Drs.
Willy Widijanto Wijanto) as marketing manager of the company, explained that
100% percent of the company’s products are import products such as, among others
fire resistant brick from China, pesticide, herbicide from China, Wood
Machineries from China, Heildeberg Photocopy Machine from Germany, Japan, and
South Korea. All products are imported based on the order from the company’s
customers in the country. Moreover, the company’s services in export-import has
used by many companies such as, among others, P.T. THIES CONTRACTORS, P.T. NOBI
PUTRA, P.T. TELKOM Tbk, P.T. MULIA GLASS Tbk, P.T. MULIAKERAMIK INDAHRAYA Tbk,
P.T. HUNTER DATAKOM, etc. In addition to, the company ever has delivered goods
for exhibition in Indonesia those owned by China Company. Mr. Edwin Wiyanto,
marketing manager of the company, also explained that in the principle, the
company given its services in export-import handling because the company has
had API (Importer Identity Number) license and a large part of its customers
are manufacturing companies above.
We observed that P.T. GML is classified as
small company in general trading, export and import handling services. The
company didn’t make goods stock and they have no storehouse. But, it’s seen
that the company has had permanent customers both inside and outside the
country. Generally, we observed that the company’s business activities is
running smoothly and growing up slowly in the past five years
Until
this time P.T. APS have not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. We observed
that total sales turnover of the company in 2003 is Rp. 6.5 billion. In 2004,
total sales turnover of the company increased to be Rp. 7 billion. And in 2005
the figure increased to be Rp. 7.5 billion. The company gained net profit from
its business operation is about Rp. 500 million. The company’s total net worth
is about Rp. 2.7 billion. It is forecasted that total sales turnover of the
company will increase at least 10% in 2006.
The
company is led out by Mr. Drs. Willy Widijanto Wijanto, Sarjana Ekonomi (55) as president director who passed his
study in a private university in Jember, East Jakarta and experienced for more
than 12 years in the field of general trading, export and import handling
services. Everyday, he assisted by Mr. Filipi Djauhari (64) as director and Mr.
Edwin Wiyanto (27) as marketing manager. Mr. Edwin Wiyanto is a graduation of
Sarjana Interior of Atmajaya University, Jakarta. He is prepared by his father,
Mr. Drs. Willy Widijanto Wijanto to enter into and lead the company. We observed that Management’s reputation in
said business is fairly good. The company has had wide relation in the realm of
the private businessmen in and outside the country. Their relation with the
government is fairly good. So far, we have never heard that the company’s
management involved in a dirty business practice or detrimental cases that
settled in the country. The company’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia.
PT. GEMILANG MITRA LESTARI is fairly good
at conducting normal business transaction. We suggest being careful in giving
new loan to them in view of unstable condition of Indonesian economy.
RATING EXPLANATIONS
RATING
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |