MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. TIGA KOSONG
NIAGA & TEKNIK |
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Registered Office : |
Jalan Raya Banjaran No. 482 Km. 15,5, |
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Country : |
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Date of Incorporation : |
6 December 2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution of
Textile Machinery and Spare Parts |
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. |
Small |
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Maximum Credit Limit : |
US$ 9,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Correct name of
company
P.T. TIGA KOSONG NIAGA & TEKNIK
Address
Head Office
Jalan Raya Banjaran
No. 482 Km. 15,5
Phone -
(62-22) 594 3991 (Hunting)
Fax. - (62-22) 594 3992
Building Area - 1 storey
Office Space - 400 sq. meters
Region - Industrial
Zone
Status - Owned
Date of Incorporation
6 December 2006
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
Pending
Company Status
Private Company
Permit by the
Government Department
The Department of Finance
NPWP No. 02.564.078.0-421.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
: Rp.
200,000,000.-
Issued Capital : Rp. 50,000,000.-
Paid up Capital : Rp. 50,000,000.-
Shareholders/Owners :
a. Sjofjan Mansyur -
Rp. 45,000,000.-
Address : Jl. Sukabirus No. 13A, Rt. 05, Rw.13
b. Mr. Aan Hanafia Syafril - Rp. 2,500,000.-
Address : Jl. Kosambi No. 18/34 C
c. Mr. Agus Supriyatna - Rp. 2,500,000.-
Address : Jl. Bandung Inten Indah A 6 No. 1
Derwati,
BUSINESS ACTIVITIES
Lines of Business:
Trading, Import and Distribution of Textile
Machinery and Spare Parts
Production Capacity
None
Total Investment
None
Started Operation
January 2007
Brand Name
None
Technical Assistance
None
Number of Employee
13 persons
Marketing Area
Domestic
(Local) - 100 %
Main Customer
a.
The ARTOSTEX Group
b.
The DAMATEX of ARGO MANUNGGAL Group
c.
The PANASIA Group
d.
Other Industrial Textile Industries
Market Situation
Very Competitive
Main Competitors
a. GTP
b. P.T. TEMASINDO
PRAKARSA
c. C.V. KARSA TRIA
UTAMA
d. P.T. AGANSA
PRIMATAMA
e. C.V. BINTANG
PERMATA
f. C.V. LEMBANG
g. Etc.
Business Trend
Growing slowly
BANKER, AUDITOR &
LITIGATION
Banker :
P.T. Bank
Jalan Asia Afrika
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2007 – Rp. 700.0
million (January-July)
Net Profit (Loss)
:
2007 – Rp. 70.0 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
President Director - Mr. Sjofjan Mansyur
Director -
Mr. Agus Supriyatna
Board of
Commissioner :
Commissioner - Mr. Aan Hanafia Syafril
Signatories
:
President
Director (Mr. Sjofjan Mansyur) or the Director (Mr. Agus Supriyatna) 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$ 9,000.- on the 90 days of payments
OVERALL PERFOMANCE
P.T. TIGA KOSONG NIAGA & TEKNIK (P.T. TKNT) was established on 6 December 2006 in Bandung, West Java with an authorized capital of Rp. 200,000,000.- issued capital of Rp. 50,000,000.- entirely paid up. The founding shareholders of the company are Mr. Sjofjan Mansyur, Mr. Aan Hanafia Syafril and Mr. Agus Supriyatna, they are Indonesian businessmen of Chinese origins. The notary deed still under processing at Department of Justice and Human Right for legalization.
P.T. TKNT has been in operation since January 2007 in trading,
import, services, recondition and distribution of textile machinery and spare
parts for textile industry. Mr. Sjofjan Mansyur, president director of the
company explained that the whole product is imported from
Generally, the demand for textile machinery and spare parts has kept on
rising in the last several years. According to the Central Bureau of Statistics
(BPS) the Indonesian garments export in 2000 amounted to 370,300 tons (US$
4,702.6 million), to 473,800 tons (US$ 4,476.7 million) in 2001, to 333,100
tons (US$ 3,887.2 million) in 2002 to 339,000 tons (US$ 4,037.9 million) in
2003 to 327.300 tons (US$ 4,351.9 million) in 2004 to 369.500 tons (US$ 4,967.0
million) in 2005 and to 89,900 tons (US$ 1,296.2 million) in 2006 (January-March).
The Indonesia textile products export in 2000 amounted 1,365.1 tons (US$
3,634.1 million), declined to 1,269.5 (US$ 3,198.9 million) in 2001, to 1,425.9
tons (US$ 3,075.9 million) in 2002 to 1,307.5 tons (US$ 3,064.6 million) in
2003 to 1,300.4 tons (US$ 3,354.6 million) in 2004 to 1,427.3 tons (US$ 3,704.0
million) in 2005 and to 362.3 (US$ 940.2 million) in 2006 (January-March). The
export volume and value of the national TPT products in 2000 to 2005 are
pictured on the following table.
|
Year |
Garment |
Textile
Product |
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(Thousand Ton) |
(US$ Million) |
(Thousand Ton) |
(US$ Million) |
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2000 |
370.3 |
4,702.6 |
1,365.1 |
3,634.1 |
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2001 |
473.8 |
4,476.7 |
1,269.5 |
3,198.9 |
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2002 |
333.1 |
3.887.2 |
1,425.9 |
3,075.9 |
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2003 |
339.9 |
4,037.9 |
1,307.5 |
3,064.6 |
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2004 |
327.3 |
4,351.9 |
1,300.4 |
3,354.6 |
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2005 |
369.5 |
4,967.0 |
1,427.3 |
3,704.0 |
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2006* |
89.9 |
1,296.2 |
362.3 |
940.2 |
*) January –
March
Source : Central
Bureau of Statistic
P.T. TKNT’s management adopted very reclusive attitude towards outsiders
and rejected to unveil its financial condition but we estimated that the
company’s operation in the first year as from January – July 2007 booked a
total sales turnover of Rp. 700.0 million and estimated to be rising until
December 2007. We estimated that P.T. TKNT’s operation in 2007 yielded a total
net profit of Rp. 70 million with a total networth of Rp. 125.0 million. So
far, we did not hear that the company having been black listed by the Central
Bank (Bank
P.T. TKNT’s management is led by Mr. Sjofjan Mansyur (56), a businessman
with has 15 years experienced in trading, import, services, recondition and
distribution of textile machinery, spare parts and accessories. They have wide
relation with home and overseas private businessmen as well as with the
government sectors. So far, we did not hear that the management of the company
being filed to the district court for detrimental cases. P.T. TIGA KOSONG NIAGA
& TEKNIK is considered to be good for 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. |
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%)