MIRA
INFORM REPORT
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Report Date : |
03.08.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. ALPS &
CO. |
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Registered Office : |
Jalan Pintu Kecil III No. 50, (Gang Burung No. 50), Pasar
Pagi, |
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Country : |
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Date of Incorporation : |
11 June 1969 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Supply of Agricultural
Products |
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$ 105,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of Company
P.T. ALPS & CO.
Address
Head Office
Jalan Pintu Kecil
III No. 50
(Gang Burung No.
50)
Pasar Pagi
Phone -
(62-21) 6912 635, 6904 438, 6904 433
Fax. - (62-21) 6929 526
E-mail - alpsputramulia@centrin.net.id
Building Area - 2 storey
Office Space - 800 sq. meters
Region -
Status - Owned
Date of Incorporation
a. 11 June 1969 as C.V. SOPAR
b. 28 October 1977 as P.T. ALPS & CO.
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Justice and Human Rights
No.
C2-7645.HT.01.04.94
Dated 14 May 1994
Company Status
Private Company
Permit by the
Government Department
The Directorate General of Tax
NPWP No. 1.316.346.4-025
Related Company
The SUKANDAMULIA Group Members
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
: Rp.
100,000,000.-
Issued Capital : Rp.
100,000,000.-
Paid up Capital : Rp.
100,000,000.-
Shareholders/Owners :
a. Mr. Kakan Sukandadinata - Rp. 55,000,000.-
Address : Jl. Pantai Kuta IV No. 1
b. Mr. Nurdin Hasyim Johannes - Rp. 30,000,000.-
Address : Jl. Pluit Sakti Raya No. 28
c. Mrs. Gusti Raden Ajeng Retno
Satuti
Yamin -
Rp. 15,000,000.-
Address : Jl. Diponegoro No. 10
BUSINESS ACTIVITIES
Lines of Business:
Trading, Import and Supply of Agricultural
Products
Production Capacity
None
Total Investment
None
Started Operation
1969 when it was
as C.V. SOPAR
Brand Name
None
Technical Assistance
None
Number of Employee
8 persons
Marketing Area
Domestic - 100%
Main Customer
Traditional
Markets
Market Situation
Very Competitive
Main Competitors
a. P.T. INDOPACT
TRADING
b. P.T. GLOBAL
TRADING IMPEX
c. C.V. PUTRA NUSA
d. P.T. ADI
SAMPOERNA
e. Etc.,
Business Trend
Growing
BANKER, AUDITOR &
LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk
Jalan Pasar Pagi
b. P.T. Bank DKI
Jalan Ir. H. Juanda III/9
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 6.0
billion
2005 – Rp. 7.0
billion
2006 – Rp. 8.0
billion
Net Profit (Loss)
:
2004 – Rp. 0.4 billion
2005 – Rp. 0.5 billion
2006 – Rp. 0.6
billion
Payment Manner
Average
Financial Comments
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Nurdin Hasyim Johannes
Board of Commissioners :
President Commissioner - Mr. Kakan Sukandadinata
Commissioners -
a. Mr. Rudy Cahyadi Sukandadinata
b. Mrs. Gusti Raden Ajeng Retno Satuti Yamin
Signatories :
Director (Mr. Nurdin Hasyim Johannes)
which must be approved by Supervisory Board.
CAPABILITIES
Management Capability :
Satisfactory
Business Morality
Satisfactory
Credit Risk
Above Average
Credit Recommendation
Credit should be extended under
guarantee
Proposed Credit
Limit
C.O.D. To small amount
Maximum Credit Limit
US$ 105,000.- on the 90 days of payments
OVERALL PERFOMANCE
Initially named C.V. SOPAR which was established in June 1969
with a legal status of C.V. (Commanditaire Vennootschap) or partnership with
sleeping partner. The company is founded by Mr. Djoko Soesilo as active partner
and his wife Mrs. Soesilo as silent partner. They are
P.T. ALPS & CO., is basically to continue the activities of
C.V. SOPAR which had been operating since 1969 in trading, import and supply of
agricultural products. The company imports various agriculture products like
green nut, soybean, ground nut from
We have noticed that the demand for agricultural products had
increased some 10% to 11% per annum in the last five years in line with the
growth of industrial manufacturing in the country and international market. In
the coming years, the growth rate of demand is estimated at about 6% to 7% per
annum. The present market situation for agricultural products is very
competitive for a large number of similar companies operating in the country.
Meanwhile, competition is quite heavy in the export import of agricultural
products with many companies now doing business in this field in
Until this time P.T. ALPS & CO 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
2004 amounted to Rp. 6.0 billion increased to Rp. 7.0 billion in 2005 and to
Rp. 8.0 billion in 2006. The operation in 2006 yielded an estimated net profit
at least Rp. 0.6 billion and the company has an estimated total net worth at
least Rp. 1.0 billion. It is projected that total sales turnover of the company
will increase at least 8% in 2007. We observe that P.T. ALPS & CO is
supported by financially fairly strong behind it. So far, we did not hear that
the company having been black listed by the Central Bank (Bank
The management of P.T. ALPS & CO is led by Mr. Nurdin Hasyim Johannes (48) a professional manager and businessman with has 17 years of experience in trading, import and supply of agriculture products. The management of the company is handled by professional managers having wide relation with private businessmen within and outside the country and with the government sectors as well. We observed that management’s reputation in said business is fairly good. So far, we did not hear 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. ALPS & CO 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 |
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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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)