MIRA
INFORM REPORT
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Report Date : |
3rd June 2006 |
IDENTIFICATION DETAILS
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Name : |
P.T. PRATAMA
CIPTA MANDIRI KREASI |
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Registered
Office : |
Jalan
Asemka No. 9 A Kelurahan
Pinangsia Jakarta Barat Indonesia |
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Country : |
Indonesia |
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Financials (as
on) : |
2005 |
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Date of
Incorporation : |
2003 |
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Legal Form : |
Limited Liability Company |
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Line of
Business : |
Custom Clearance Services |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Name of Company
P.T. PRATAMA CIPTA MANDIRI KREASI
A d d r e s s
Head
Office
Jalan
Asemka No. 9 A
Kelurahan
Pinangsia
Jakarta Barat
Indonesia
Phone -
(62-21) 6928651
Fax. - (62-21) 6928651
Building Area -
Office
Office Space -
50 sq. meters
Region -
Commercial
Status -
Rent
Date of Incorporation
2003
Legal Form
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
Not
Available
Company Status
Private Company
Permit by the Government
Department
Not Available
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized
Capital : Rp.
100,000,000.-
Issued
Capital :
Rp. 25,000,000.-
Paid
up Capital :
Rp. 25,000,000.-
Shareholders/Owners :
a. Mr. Kidam Amani - 75%
b. Mr. Suhendra - 15%
BUSINESS ACTIVITIES
Lines of
Business:
Custom Clearance
Services
Production
Capacity :
None
Total Investment
:
a.
Owned Capital -
Rp. 25.0 million
b. Loan
Capital -
None______
c.
Total Investment - Rp. 25.0million
Started Operation :
2003
Brand Name :
None
Technical Assistance :
None
Number of Employee :
2
persons
Marketing Area :
Domestic - 100 %
Main Customer :
Trading
and Industrial Sectors
Market Situation :
Very
Competitive
Main Competitors :
a.
P.T. DAYOTO HOMITEC
b.
P.T. DEMTEX HOMITEC
c.
P.T. ANEKA PRIMA SEGAR
Business Trend :
Growing Slowly
BANKER, AUDITOR & LITIGATION
B a n k e r
s :
P.T. Bank BUANA INDONESIA Tbk
Jalan
Gajah Mada 1 A
Jakarta
Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2003 –
Rp. 1.0 billion
2004 –
Rp. 1.2 billion
2005 –
Rp. 1.3 billion
Net Profit (Loss)
:
2003 – Rp. 40.0 million
2004 – Rp. 48.0 million
2005 –
Rp. 52.0 million
Payment Manner :
Sometimes
delay
Financial Comments :
Weak
KEY EXECUTIVES
Board of Management :
Director - Mr. Kidam Amani
Board of Commissioners :
Commissioner - Mr. Suhendra
Signatories :
Director (Mr. Kidam Amani) which must be approved by Supervisory Board.
CAPABILITIES
Management Capability :
Weak
Business Morality :
Satisfactory
Credit Risk :
High
Credit Recommendation :
Credit is not recommended
Proposed Credit Limit :
C.O.D.
Maximum Credit Limit :
US$ 17,400.- on the 90 days of payments
OVERALL PERFOMANCE
P.T. PRATAMA CIPTA MANDIRI KREASI (P.T. PCMK)
was established in 2003’s in Jakarta under the legal status of Limited
Liability Company with an authorized capital of Rp. 100,000,000.- issued
capital of Rp. 25,000,000.- entirely paid up. Based to our investigation to the
company, Mr. Suhendra a commissioner of the company disclosed that the founder
of company are Mr. Kidam Aman and Mr. Suhendra, both are Indonesian businessmen
of Chinese extraction. But the company’s notarial deed has yet been reported
and registered at Department of Justice and Human Right. We have checked the
company’s notarial deed through by the Department of Justice and Human Right
but also has not found. Besides that, the management of the company has very
closed to expose of its notarial deed.
P.T. PCMK has been
operating since 2003 in the field of custom clearances services. The company
manages and handled an export import services especially in Tanjung Priok Port.
Mr. Suherman, explained that the company manages and handled an export import
services such cargoes, merchandising goods (electronic, machinery, raw
material, industrial chemical, ceramics and tile, glass, toys and games) from
Hong Kong, China and Taiwan. The company’s services usually used by their
clients such as C.V. SINGA TERBANG, electronic dealers in Glodok, Pasar Pagi
Manggadua and etc. Furthermore, it was explained that P.T. PCMK operation has
been growing slowly and the company is classified as small company in the
country.
The domestic demand for custom clearances
services has kept on fluctuating in the last five years in line with the growth
of export and import of various Indonesian products including oil and gas.
According to the Central Bureau of Statistic (BPS), Indonesian export in 199
amounted to US$ 48,665.4 million increased to US$ 62,124.0 million in 2000
dropped to US$ 56,320.9 million in 2001 surged to US$ 57,158.8 million in 2002,
to US$ 61,058.0 million in 2003, to US$ 71,584.6 million in 2004 and to US$
70,650.8 million in 2005 (January-October). In the meantime, Indonesian import
in 1999 amounted to US$ 24,003.3 million, increased to US$ 33,514.8 million in
2000 dropped to US$ 30,962.1 million in 2001 rose to US$ 31,288.9 million in
2002 to US$ 32,550.7 million in 2003 to US$ 46,524.5 million in 2004 and to US$
48,720.6 million in 2005 (January-October). In the meantime, we realized that
market competition is very tough on account of many other similar companies
operating in the country.
Until this time P.T. PCMK has 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. 1.0 billion increased to Rp. 1.2 billion in 2004 and
to Rp. 1.3 billion in 2005. The operation in 2005 yielded an estimated net
profit at least Rp. 52.0 million and the company has an estimated total
networth at Rp. 100.0 million. It is forecasted that total sales turnover of
the company will increase at least 6% in 2006. We observe that P.T. PCMK is
supported by financially not strong behind it. So far, we have never heard of
the company having been black listed by the Central Bank (Bank Indonesia).
The company is led out by Mr. Kidam Amani
(app. 49), a businessman who experienced for more than 3 years in the field of
custom clearances services. We observed that management’s reputation in said
business is weak. The company has had wide relation in the realm of the private
businessmen within and outside the country. 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. PRATAMA CIPTA MANDIRI KREASI is
sufficiently fairly good for business transaction. However, in view of the
unstable economic condition in the country we recommend to treat prudently in
extending a loan to the company.
RATING EXPLANATIONS
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RATING |
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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit
risk exists. Caution needed to be exercised |
Credit not
recommended |