MIRA
INFORM REPORT
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Report Date : |
3rd
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
P.T. TEGUH INDORINTA ORPIT |
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Registered Office : |
Jalan Kol. Sugiono No. 5 A / 21 Medan, 20151 North Sumatera Indonesia |
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Country : |
Indonesia |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
C-20118 HT.01.04.TH.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in trading, import and supplies
of food ingredients |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Ceased
Operation |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Name of Company
P.T. TEGUH INDORINTA ORPIT
A d d r e s s
Head
Office
Jalan Kol. Sugiono No. 5 A / 21
Medan, 20151
North Sumatera
Indonesia
Phone - (62-61) 453-8282
Fax. - (62-61) 453-6500
Building Area - 1 storey
Office Space - 200 sq. meters
Region - Commercial Area
Status - Rent
Date of Incorporation
1996
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Justice and Human Rights
No. C-20118 HT.01.04.TH.2001
Dated 12 December 2001
Company Status
Private Company
Permit by the Government
Department
The Department of Finance
NPWP No. 01.501.343.6-121.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 300,000,000.-
Issued Capital : Rp. 100,000,000.-
Paid up Capital : Rp. 100,000,000.-
Shareholders/Owners :
a.
Mr. Benny Sunjaya Tio -
Rp. 50,000,000.-
Address : Jl.
Samanhudi No. 14-A,
Kel. Jati, Medan, North Sumatera
Indonesia
b.
Mr. Ardy Sandjaya Tiomaulana - Rp. 50,000,000.-
Address : Jl. Slamet Riady No. 22
Kel. Jati, Medan, North Sumatera
Indonesia
BUSINESS ACTIVITIES
Lines of Business:
Trading, Import and Supplies of Food Ingredients
Production Capacity :
None
Total Investment :
None
Started Operation :
1996 but ceased operation since 2002
Brand Name :
None
Technical Assistance :
None
Number of Employee :
1 person
Marketing Area :
Local - 100%
Main Customer :
None
Market Situation :
Very Competitive
Main Competitors :
a. P.T. TERUNA JAYA PERKASA
b. P.T. SANTOSO ANEKA RAYA
c. P.T. MESTIKAMAS PRATAMA
d. P.T. MEDAN SEJAHTERA UTAMA
Business Trend :
No Comment
BANKER, AUDITOR & LITIGATION
B a n k e r s :
PT. Bank
Permata Tbk
Kantor
Cabang Pembantu
Medan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
None
Net Profit (Loss) :
None
Payment Manner :
No Comment
Financial Comments :
Weak
KEY EXECUTIVES
Board of Management :
Director - Mr. Benny Sunjaya Tio
Board of Commissioners :
Commissioner -
Mr. Ardy Sandjaya Tiomaulana
Signatories :
Director
(Mr. Benny Sunjaya Tio) which must be approved by Supervisory Board.
CAPABILITIES
Management Capability :
Bad
Business Morality :
Prudent
Credit Risk :
Very
High
Credit Recommendation :
Not
qualified for credit assessment
Proposed
Credit Limit :
We suggest to stop any new proposed loan for the company
Maximum Credit Limit :
No Comment
OVERALL PERFOMANCE
P.T. TEGUH INDORINTA ORPIT (P.T. TIO) was established in Medan, North Sumatera in 1996 with an authorized capital of Rp. 300,000,000.- issued capital of Rp. 100,000,000.- entirely paid up. The founding shareholders are Mr. Benny Sunjaya Tio and Mr. Ardy Sandjaya Tiomaulana, both are Indonesian businessmen of Chinese extraction. The deed of amendment was made by Mr. Rahanum, SH., a public notary in Medan under Company Registration Number C-20118 HT.01.04.TH. 2001, dated December 12, 2001.
P.T. TIO has been operating since 1996 as a
trader and distributor of oil lubricating oil. The company holds the
distributor for GULF Oil & Lubricant of the United State and AMT Oil of
Australia. The merchandize products include such items as Synthetic, Mineral,
Petrol, Octan, Carburator Cleaner, etc. All the above products are sold in the
ranks of lubricating oil dealers & traders and automotive repair workshops
in Medan, North Sumatera and surroundings. Based on our investigation through
Mrs. Ming Min the company staff, said that the company operation in Medan was
ceased operation since 2002 on account of serious financial difficulties. Whole
employees were laid off and there is only one staffs in the head office. P.T.
TIO is a company having no productive business activities. However, the company
has yet to be stated dispersed through court and there is no confirmation
whether or not the company will be stated bankrupt.
We refrain from providing any comment on P.T. TIO's future business prospects because it has discontinued operation as from 2002. AS from that time on employees have been laid off entirely, but so far P.T. TIO has yet been liquidated legally.
Since P.T. TIO has ceased operation, its financial condition is standing at Rp. 100 million as paid up capital as stated in its latest articles of association.
The management of P.T. TIO is led by Mr.
Benny Sunjaya Tio (40) a professional manager. The management of the company is
handled by experienced staff but on account of mismanagement and intercompany
transaction, the operation of the company was stagnant. The operation of the
company has been ceased operation since 2000. In view
of the negative factors above, we recommend to suspend any new proposed loan
for 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 |
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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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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