MIRA INFORM REPORT
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Report Date : |
3rd April
2006 |
IDENTIFICATION DETAILS
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Name : |
P.T. PRIMA MEDIKEM UTAMA |
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Registered Office : |
Ruko Sentra Niaga Puri
Indah Block T2/23 Puri Kembangan Jakarta 11610 |
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Date of Incorporation : |
1 September 1995 |
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Com. Reg. No.: |
C2-9026.HT.01.01,
TH.96 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading and
Distribution of Pharmaceutical Raw Materials |
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 : |
Regular |
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Litigation : |
Clear |
Name of company
P.T. PRIMA
MEDIKEM UTAMA
A d d r e s s
Head
Office
Ruko Sentra Niaga Puri Indah Block T2/23
Puri Kembangan
Jakarta 11610
Building Area -
(62-21) 581 1177, 581 9128
Office Space -
(62-21) 580 5558
Building Area -
3 storey
Office Space -
165 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation
1 September 1995
Legal Form
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No. C2-9026.HT.01.01,TH.96
Dated 19 September 1996
Company Status
National Private Company
Permit by the Government Department
The Department of Finance
NPWP No. 1.732.640.6-031
Related Company
None
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CAPITAL AND OWNERSHIP |
Capital Structure :
Authorized Capital -
Rp. 300,000,000.-
Issued Capital -
Rp. 60,000,000.-
Paid up Capital -
Rp. 60,000,000.-
Shareholders/Owners :
a. Mr. Sugihakim Ali - Rp.
6,000,000.-
Address : Jl. Raya Mangga
Dua, Rt.004/004
Kel. Pinangsia
Jakarta
Barat
b. Mrs. Yenny Chitra Ali - Rp.
9,000,000.-
Address : Jl. Raya Mangga
Dua, Rt.004/004
Kel.
Pinangsia
Jakarta
Barat
c. Mr. Herman Widjaja - Rp.
24,000,000.-
Address : Jl. Tubagus Angke
No. 2136
Kel. Wijaya
Kusuma
Jakarta
Barat
d. Mr. Meddy Purwanto
- Rp. 21,000,000.-
Address : Jl. Teluk Gong,
Rt. 018/006
Kel.
Pejagalan
Jakarta
Utara
BUSINESS ACTIVITIES |
Lines
of Business:
Trading and Distribution
of Pharmaceutical Raw Materials
Production
Capacity :
None
Total
Investment :
Owned capital - Rp 60.0 million
Started Operation :
1995
Brand Name :
None
Technical Assistance :
None
Number of Employee :
14 persons
Marketing Area :
Domestic
(Local) - 100 %
Main Customer :
a. Pharmaceutical Industries
b. Cosmetic Industries
c. Etc.
Market Situation :
Very
Competitive
Main Competitors :
a.
P.T. Bina Mitra Sejahtera
b.
P.T. Multi Kimia Raya Nusantara
c.
P.T. Mitra Chemindo Sejati
d.
P.T. Sinar Cemaramas Abadi
e.
P.T. Galic Bina Mada
f. P.T. Anugrahkimia Ariwidya
g.
etc.
Business
Trend :
Growing but only slowly
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BANKER, AUDITOR &
LITIGATION |
B a n k e r
:
P.T. LIPPO Bank Tbk.
Daan Mogot Branch
Jl. Daan Mogot Raya No.
95C
Jakarta Barat
Auditor
:
Internal Auditor
Litigation :
No litigation record in our database
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FINANCIAL FIGURE |
Annual Sales (estimated) :
2001 – Rp. 2.8 billion
2002 – Rp. 3.2 billion
2003 – Rp. 3.7 billion
2004 – Rp. 4.1 billion
2005 – Rp. 4.6 billion
Net
Profit (Loss) :
2001 – Rp.
170 million
2002 – Rp.
190 million
2003 – Rp.
200 million
2004 – Rp.
230 million
2005
– Rp. 280 million
Payment Manner :
Promptly
Financial Comments :
Satisfactory
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KEY EXECUTIVES |
Board of
Management :
Director - Mr. Sugihakim Ali
Board of
Commissioner :
Commissioner - Mr. Herman Widjaja
Signatories :
Director (Mr. Sugihakim Ali) which must be approved by the Commissioner
Board (Mr. Herman Widjaja)
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CAPABILITIES |
Management
Capability :
Satisfactory
Business
Morality :
Satisfactory
Credit Risk
:
Average
Credit
Recommendation :
Credit should be
proceeded with monitor
Proposed Credit Limit :
Small amount –
periodical review
Maximum
Credit Limit :
US$ 62,500.- on the 90 days of payments
OVERALL PERFOMANCE |
P.T. PRIMA MEDIKEM UTAMA (P.T. PMU) was established on September, 1995
with the authorized capital of Rp 500,000,000.- of which Rp 300,000,000.- was
issued and fully paid up. The founding
shareholders of the company are Mr. Sugihakim Ali, Mrs. Yenny Chitra Ali, Mr.
Herman Widjaja and Mr. Meddy Poerwanto, all Indonesian business person of
Chinese extraction. Deed of
Amendment was made by Mr. Djedjem Widjaja, SH, a public notary in Jakarta under
Company Registration Number C2-9026.HT.01.01.TH.96, dated September 19, 1996.
We observe that the majority business stakes
of the company are controlled by Mr. Herman Widjaja (40%) and Mr. Meddy
Purwanto (35%).
P.T. PMU has been in operation since 1995 dealing with trading and
distribution of industrial chemicals, especially pharmaceutical raw materials
such as Potassium DL Aspartate, Magnesium DL Aspartate, Taurine Fine Chrystal,
Dexamethasone Base Micronized, Alprostali, etc. That basic materials
imported form various countries, including Germany, Australia, Spain and
other countries.
Miss Tanti, a staff senior of P.T. PMU said that the products are sold
by the company to medium-scale pharmaceutical industries in Jakarta, Bandung
(West Java) and Surabaya (East Java). We observe that P.T. PMU is classified as
small company in the field of trading and distributor of industrial chemicals. But it seems that the company has already
had permanent customer both in and outside the country. In generally, we
observe that the company’s business activities is running smoothly and growing
up slowly in the past five years.
Generally,
demand for industrial chemicals such as pharmaceutical chemicals, food &
beverage chemicals, cosmetic chemicals and others had been increasing by 6% to
7% per annum in the country having close relation with the activities of
pharmaceutical industries, food & beverages, cosmetics, leather industries
and other manufacturing industries using the above products. It is projected that the demand will be
increasing 5% to 6% in the coming three years.
The competition is very tight on account of lots of similar company
operating in the country. The business
position of P.T. PMU is favorable for having established wide relation and
business networks in the country.
Until this time P.T. PMU
have not been listed in the Indonesian Stock Exchange so that the company shall
not obliged to announce its financial statement to the public. We estimate that
total sales turnover of the company in 2003 amounted to Rp. 3.7 billion, increased to Rp 4.1 billion in 2004
and rose against to Rp 4.6 billion in 2005. The company’s operation gained a
net profit of Rp. 280 million in 2005. Total net worth of the company is about
Rp. 2.2 billion. It is forecasted that
their sales turnover will increase about 8% in 2006.
The management of
P.T. PMU is headed by Mr. Sugihakim Ali (32) with 10 years of experience in
trading and distribution of industrial chemicals. In her daily activities, he is assisted by Mrs. Menawati or Mena
(35) as director. The management’s
reputation in said business is fairly good. They have wide relations with the
private businessmen in or outside the country. They also have good relations
with the government. 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 relation in
banking sector is good enough and P.T. PMU has not registered with the black
list of Bank of Indonesia.
We appraise that P.T. PMU is good enough for
normally business transaction. We suggest being careful in giving new loan to
them in view of unstable condition of Indonesian economics.
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 |