MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. MULTI MULIA LANGGENG |
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Registered Office : |
JL. Tanjung Priok
No. 29, Block A-12, |
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Country : |
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Date of Incorporation : |
01 October 1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of agriculture 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$ 580,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Correct Name of
company
P.T. MULTI MULIA LANGGENG
Address
Head Office & Warehousing
JL. Tanjung Priok No. 29, Block A-12
Phones - (62-31) 3299271-2
Fax - (62-31) 3299274
Land Area - 3,000 sq.
meters
Office Space - 1,200 sq.
meters
Region - Commercial
Status - Owned
Date of Incorporation
01 October 1996
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No.
W7-02706.HT.01.04.TH.2006
Dated 20 November
2006
Company Status
National Private Company
Permit by the
Government Department
The Department of Finance
NPWP No. 1.716.258.7-605.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized
Capital -
Rp. 15,711,000,000.-
Issued Capital - Rp. 15,711,000,000.-
Paid up Capital - Rp. 15,711,000,000.-
Shareholders/Owners
a. Mr. Wiliam Kusumah - Rp. 4,713,500,000.-
Address : Jl. Cipinang Jaya, Rt. 007/Rw.003
Kel.
Cipinang Muara
b. Mr. Tan Amongkarso - Rp. 6,284,500,000.-
Address : Jl. Pasar Lama I No. 50
Kel.
b. Mr. Harpin Kusuma Nurherman - Rp.
4,713,000,000.-
Address : Jl. Cipinang Jaya Raya No. 48
Kel. Cipinang
Muara
BUSINESS ACTIVITIES
Lines of Business:
Trading and Distribution of agriculture products
Production Capacity
None
Total Investment
a. Owned Capital - Rp. 15.7 billion
b. Loan Capital
- Rp. -- billion
c. Total Investment - Rp.
15.7 billion
Started Operation
1996
Brand Name
None
Technical Assistance
None
Number of Employee
65 persons
Marketing Area
Domestic
(Local) - 100%
Main Customers
- Traditional
markets
- Food and
Beverages Industries
- Etc.
Market Situation
Very Competitive
Main Competitors
a. P.T. DAKAI
IMPEX
b. P.T. ALAM
INDORAMA
c. C.V. BUMI DJAJA
d. P.T. ADI
SAMPOERNO
e. P.T. SUMBER
SEJAHTERA SENTOSA
f. C.V. PUTRA NUSA
Business Trend
Growing
BANKER, AUDITOR &
LITIGATION
Bankers :
a. P.T.
Bank
b. P.T.
Bank DANAMON Tbk.
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 33.5
billion
2005 – Rp. 38.0
billion
2006 – Rp. 42.0
billion
Net Profit (Loss)
:
2004 – Rp. 1.9 billion
2005 – Rp. 2.4 billion
2006 – Rp. 2.8 billion
Payment Manner :
Average
Financial Comments :
Fairly Strong
KEY EXECUTIVES
Board of
Management :
Director
- Mr. Wiliam Kusumah
Board of
Commissioner :
President Commissioner -
Mr. Tan Amongkarso
Commissioner - Mr. Harpin Kusuma
Nurherman
Signatories
:
The Director (Mr. Wiliam Kusumah) which must be approved by
president commissioner (Mr. Tan Amongkarso) or the commissioner (Mr. Harpin
Kusuma Nurherman)
CAPABILITIES
Management
Capability :
Good
Business Morality
Good
Credit Risk
Below Average
Credit Recommendation
Credit can be proceeded normally
Proposed Credit
Limit
Moderate amount
Maximum Credit Limit
US$ 580,000 on the 90 days of the
payment
OVERALL PERFOMANCE
P.T. MULTI MULIA LANGGENG
(P.T. MML) was established in Surabaya (East Java) in October 01, 1996
with an authorized capital of Rp. 100,000,000.- issued capital of Rp.
25,000,000.- entirely paid up. The founding shareholders are Mr. William Kusumah, Mr. Tan Amongkarso and
Mr. Harpin Kusuma Nurherman. They are Indonesian businessmen of Chinese
extraction. The notary deed has been changed, and in July 11, 2005, the
authorized capital was raised to Rp. 15,711,000,000.- entirely issued and paid
up. The deed of amendment was made by
Mr. Zainal Baharuddin SH., a public notary in
PT. MML have been operating its business since 1996 in line of
trading and importer of agricultural products, such as ground-peanut, green
mung bean, garlic, sesame seed, white pepper and others. Ms. Choiriyah, import
manager of PT. MML explained that large part of the company’s products are
imported 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
The company is neither public listed nor bond issued company. Therefore, the company has no obligation to publish financial statement publicly. We have checked to Department of Trade and Industry and found that no financial statement has been reported.
The management of P.T. MML is very reclusive towards outsiders and rejected to disclose its financial condition. However, we estimated that total sales turnover of the company in 2004 amounted to Rp. 33.5 billion went up to Rp. 38.0 billion in 2005 and rose again to Rp. 42.0 billion in 2006 and projected to rising by 10% in 2007. The operation of the company in 2006 is estimated to have gained a profit of Rp. 2.8 billion with an estimated networth of Rp. 17.0 billion.
So far, we have never heard of P.T. MML having been black listed by Bank
The management is led by Mr. Wiliam Kusumah (37), but, the prime-mover is Mr. Tan Amongkarso (59) with 26 years experiences in agricultural trading and importation. The management well-experienced and run by professional managers who maintain wide relation with agricultural products collectors and farmers in various Indonesian agricultural centers. The company also maintains wide relation with overseas business persons. Their relation with the government is fairly good. 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 litigation record is clean and it has not registered with the black list of Bank of Indonesia.
P.T. MML appraised quite feasible for normal business transaction. Considering economic condition in the country remains unstable, we recommend to have an adequate collateral from the shareholders in dealing with any new loans.
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%)