MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
P.T. PUTRABALI ADYAMULIA |
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Registered Office : |
Wisma
Eka Jiwa Ruko No. 03, Kel. Mangga Dua Selatan, Sawah Besar, Jakarta Pusat,
Indonesia |
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Country : |
Indonesia |
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Date of Incorporation : |
13.07.1990 |
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Com. Reg. No.: |
No.
C-01646.HT.01.04.TH.2001 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Trading
and Exporter of Coffee Beans and White & Black Peppers |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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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Maximum Credit Limit : |
US$
2,330,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Correct name of company
P.T.
PUTRABALI ADYAMULIA
Address
Head Office
Wisma
Eka Jiwa Ruko No. 03
Kel.
Mangga Dua Selatan, Sawah Besar
Jakarta
Pusat
Indonesia
Phones - (62-021) 6257168, 6257162
Fax. - (62-021) 6257140
Email - pbajkt@cbn.net.id
Building
Area - 3 storey
Office
Space - 120 sq. meters
Region - Commercial
Status - Rent
Warehouses
a. Jl.
Gatot Subroto No. 79
Bandar Lampung
Lampung Province
Phone -
(62-0721) 486888
b. Jl.
Mayor Syafrie Rachman No. 52
Pangkal Pinang, Bangka
South Sumatra
Phone -
(62-0717) 436858
Date of Incorporation
a. In
1975 as C.V. PUTRABALI
b. 13
July 1990 as P.T. PUTRABALI ADYAMULIA
Legal Form
P.T. (Perseroan Terbatas) or
Limited Liability Company
Company Reg. No.
The
Ministry of Law and Human Rights
No. C-01646.HT.01.04.TH.2001
Dated 06 June 2001
Company Status
National
Private Company
Permit by the Government
Department
The
Department of Finance
NPWP No.
1.357.672.3-025
Related Companies :
a. P.T.
PUTRABALI SATRIAWIJAYA (Investment Holding)
b. P.T.
PATROMAN SENOPUTRA (Investment Holding)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp.
150,000,000,000.-
Issued Capital : Rp.
82,492,000,000.-
Paid up Capital : Rp.
82,492,000,000.-
Shareholders/Owners :
a. Mr. Mustakim Haryanto Widjaja -
Rp. 14,600,000,000.-
Address : Jl. Pluit Timur Raya No. 34
Jakarta Utara
Indonesia
b. Mr. Teddy Widjaya -
Rp. 8,200,000,000.-
Address : Jl. Laksamana Malahayati No. 14
Bandar Lampung
Indonesia
a. P.T. PUTRABALI SATRIAWIJAYA -
Rp. 29,816,600,000.-
Address : Jl. Mangga
Dua Raya Blok N No. 3
Jakarta
Utara
Indonesia
b. P.T. PATROMANSENOPUTRA -
Rp. 29,875,400,000.-
Address : Jl. Mangga Dua Raya Blok N No. 3
Jakarta Utara
Indonesia
BUSINESS ACTIVITIES
Lines of Business:
Trading and Exporter of Coffee Beans and
White & Black Peppers
Production Capacity :
None
Total Investment :
a. Equity Capital - Rp. 82.5 billion
b. Loan Capital -
Rp. --- billion
c. Total Investment -
Rp. 82.5 billion
Started Operation :
In 1975 when it was named C.V.
PUTRABALI
Brand Name :
None
Technical Assistance :
None
Number of Employee :
105
persons
Marketing Area :
Overseas (Export) -
98%
Domestic (Local) -
2%
Main Customer :
a. Overseas Importer in USA,
Germany, Italy, Netherlands, India, China, etc.
b. Traditional Markets and
Traditional Cosmetics Industries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. Aneka Sumber Kencana
b. P.T. Aman Jaya Perdana
c. P.T. Bangka Spice Indomas
d. P.T. Bumi Alam Makmur
e. P.T. Gunung Lintang, etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank RABOBANK
INTERNATIONAL INDONESIA
Plaza 89, 9th Floor
Jl. H.R. Rasuna Said Kav. X-7/6
Jakarta 12940
Indonesia
b. P.T. Bank Negara Indonesia
Tbk.
Plaza Kota BNI
Jl. Jend. Sudirman No.1
Jakarta Selatan
Auditor :
Internal
Auditor
Litigation :
No
litigation record in our database
FINANCIAL FIGURE
Net Sales (estimated) :
2002 – Rp. 152.0 billion
2003 – Rp. 138.0 billion
2004 – Rp. 155.0 billion
2005 – Rp. 172.0 billion
2006 – Rp. 96.0 billion (as per 30 June 2006)
Net Profit (estimated) :
2002
– Rp.
12.0 billion
2003
– Rp. 8.2 billion
2004
– Rp.
10.5 billion)
2005
– Rp.
11.8 billion)
2006
– Rp. 6.6 billion (as per 30 June 2006)
Payment Manner :
Average
Financial Comments :
Fairly Strong
KEY EXECUTIVES
Board of
Management :
President Director -
Mr. Mustakim Haryanto Widjaja
Director -
Mrs. Yuliani Widjaja
Board of
Commissioner :
President Commissioner - Mr. Teddy Wijaya
Signatories
:
The President Director (Mr. Mustakim
Haryanto Widjaja) or Director (Mrs.
Yuliani Widjaja) which must be approved by President Commissioner (Mr. Teddy
Wijaya)
CAPABILITIES
Management
Capability :
Good
Business Morality
:
Good
Credit Risk :
Below Average
Credit
Recommendation :
Credit should be proceeded normally
Proposed Credit Limit :
Moderate amount
Maximum Credit
Limit :
US$
2,330,000.- on the 90 days D/A of terms
OVERALL PERFOMANCE
Originally named
C.V. PUTRABALI established in Bandar Lampung, Lampung Province in 1975 with a
legal status of C.V. (Commanditaire Vennootschap) or partnership with sleeping
partner. The founders are Mr. Mustakim Haryanto Widjaja, businessman of Chinese
extraction, as active partner. Mr. Ruhidi Bin Darsam an indigenous businessman
as silent partner. On July 13, 1990, the company was renamed P.T. PUTRABALI
ADYAMULIA (P.T. PA) with legal status of P.T. (Perseroan Terbatas) or limited
liability company. On the same occasion, Mr. Ruhidi Bin Darsam pulled out and
replaced by Mr. Teddy Widjaja, young brother of Mr. Mustakim Haryanto Widjaja,
P.T. PETROMAN SENOPUTRA and P.T. PUTRABALI SATRIAWIJAYA both are national
private companies whose majority
business stakes are controlled by Mr.
Mustakim Haryanto Widjaja and his
family members. On March 5, 1998 P.T. PA's authorized capital was set-up
at Rp. 75,000,000,000.- issued capital to
Rp. 54,292,000,000.- wholly paid-up.
On February 15,
2001, the company’s authorized capital was increased again to Rp.
150,000,000,000.- with the issued and paid up capital amounting to Rp
82,492,000,000.- The Deed of amendment
was made by Andy Alhadis Agus SH., a public notary in Jakarta under Company
Registration Number C-01646.HT.01.04.TH. 2001, dated June 6, 2002.
P.T. PA
started with operation in 1975 in trading and exporting of agrobased products
including coffee beans, black pepper, white pepper and others. Part of the above products are collected
from farmers and other traders in Lampung,
Bangka and several other cities in South Sumatra. Mrs. Yuliani Wijaya, director of P.T. PA's
staff members disclosed that presently her company only exports coffee beans and
black peppers (both from Lampung) and white pepper from Bangka. The above products are exported to the USA,
Germany, Italy, the Netherlands, India, China, Japan and other European
countries with the capacity of 25 to 30 containers per month. She went on to say that P.T. PA's operation
has been fluctuating within the last
five years due to fluctuated price of agro based products on the international
market.
Generally
outlook we find the demand for agrobased products like coffee, spices, etc.,
had been fluctuating within the last five years in the international market as
evident from the export growth issued by Central Bureau of Statistics (BPS)
stated that the export of coffee in 2001 amounted to 248.8 thousand tons increased to 322.5 thousand tons in 2002 declined to 320.7 thousand tons in 2003, rose again to 338.8 thousand tons
in 2004 and to 197.9 thousand tons until
June 2005. While the export of
Pepper and other spices in 2001 amounted to 108.9 thousand tons increased to
128.8 thousand tons in 2002 and declined again to 120.6 thousand tons in
2003 to 114.9 thousand tons in 2004 and to 46.4 thousand tons until June 2005.
The table below shown the export of agro
based products
in Indonesia from 2000-2005
(in
thousand tons)
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Year |
Coffee |
Spices |
Cocoa |
Tea |
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2000 |
337.3 |
124.7 |
336.7 |
102,.0 |
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2001 |
248.8 |
108.9 |
307.3 |
95.0 |
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2002 |
322.5 |
128.8 |
367.5 |
95.5 |
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2003 |
320.7 |
120.6 |
266.3 |
84.7 |
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2004 |
338.8 |
114.9 |
277.1 |
55.9 |
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2005*) |
197.9 |
46.4 |
148.6 |
24.4 |
Source : Central Bureau
of Statistics (BPS) *) as per 30
June 2005
The
management of P.T. PA strongly rejected to disclose is very reclusive
concerning its financial condition to outsiders. However, we estimate that the
total sales turnover in 2003 amounted to Rp 138.0 billion rose to Rp 155.0 billion in
2004 and rose again to Rp 172.0 billion
in 2005 and projected it will be higher by 10% in 2006. The operation in 2005 yielded an estimated
net profit at Rp 11.8 billion with and with a total networth of Rp 95.0
billion. Besides, the company has a
punctual payment habit within 1 to 2 months. So far, we have never heard of the
company having been black listed by the Central Bank (Bank Indonesia).
P.T. PA's
management is led by Mr. Mustakim Haryanto Widjaja (54) with 30
years experience in agrobased product trading and exportation. In his
day-to-day activities, he is assisted by his younger brothers namely Mr. Teddy
Widjaya (51) and Mrs. Yuliani Wijaya (46). The management is well-experienced
and handled by professional managers in the above business. They have wide
relation with home and overseas private businessmen as well as with government
sectors. We believe that P.T. PA is good for normal business transaction. Considering unstable economic condition in
the country, we recommend to treat prudently in extending 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 |
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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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