MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. JUTARASA ABADI |
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Registered Office : |
Jalan Rawa Udang No. 3, Kawasan Industri Pulogadung,
Rawa Terate, Cakung |
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Country : |
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Date of Incorporation : |
9 April 1985 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Distribution, Supply of Fragrances, Flavors, Food Color,
Natural Aromatic and Specialty Ingredients Investment Holding |
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$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of Company
P.T. JUTARASA ABADI
Address
Head Office & Warehouse
Jalan Rawa Udang No. 3
Kawasan Industri Pulogadung
Rawa Terate, Cakung
Phone - (62-21) 461 9555 (Hunting)
Fax. -
(62-21) 461 4031
E-mail - ja-flavdiv@centrin.net.id
Website - http : //www.jutarasa.co.id
Land Area - 2,600 sq. meters
Factory Space - 1,500 sq. meters
Region - Industrial Zone
Status - Owned
Date of Incorporation
9 April 1985
Legal Form
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No.
The Ministry of
Justice and Human Rights
No. C-2388.HT.01.04.TH.99
Dated 4 February 1999
Company Status
Private Company
Permit by the
Government Department
The Department
of Trade
SIUP No.
88/09-03/PB/85
Dated 2 May 1985
The Directorate
General of Tax
NPWP No.
1.371.119.7-004
The Department of Trade & Industry
TDP No.
090415113153
Dated 18 November
1999
Related Companies
a. P.T. BINTANG
KREASI AROMA (Food Ingredients and Natural Extract Manufacturing)
b. P.T. DJASULA
WANGI (Trading and Exporter of Essential Oil and Vanilla Beans)
c. P.T. KEITH HARRIS
Chemical)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized Capital : Rp. 15,000,000,000.-
Issued Capital : Rp. 7,500,000,000.-
Paid up Capital : Rp. 7,500,000,000.-
Shareholders/Owners
:
a.
Mr. Hendra Kristiadi Narpati -
Rp. 5,250,000,000.-
Address : Jl. Raya
Pelepah Indah Block LC 3/7
Rt. 001/ Rw.
006, Kelapa Gading Barat
b.
Mr. Jacky Husong Narpati - Rp.
1,400,000,000.-
Address : Jl. Bengawan No. 39 Rt. 04/Rw. 02,
Kelurahan
Darmo,
c.
Mr. Bonifasius Iwan Narpati - Rp. 750,000,000.-
Address : Jl. Al Basia Raya C 8/4 Rt. 010/Rw.
004
Kedoya Selatan,
d.
Mr. Budiharsono Narpati - Rp. 100,000,000.-
Address : Jl. Bengawan No. 39 Rt. 04/Rw. 02,
Kelurahan
Darmo,
BUSINESS ACTIVITIES
Lines of Business:
a. Trading, Distribution, Supply of Fragrances, Flavors, Food Color,
Natural Aromatic and Specialty Ingredients
b. Investment Holding
Sole Distributor of :
a. P.T. BINTANG KREASI AROMA of
b. CHARABOT of
c. EXIN of Brazilia
d. FOOD SPECTRUM of
e. NU MEGA of
f. NU SOYA of
Production Capacity
None
Total Investment
a. Equity Capital - Rp.
7.5 billion
b. Loan Capital -
None
c. Total Investment - Rp.
7.5 billion
Started Operation
June 1985
Brand Name
Jutarasa
Technical Assistance
None
Number of Employee
92 persons
Marketing Area
Local
- 100%
Main Customer
a. P.T. HEINZ ABC
b. P.T. ABC PRESIDENT ENTERPRISES INDONESIA
c. P.T. JAKARANA TAMA
d. P.T. MARTINA BERTO
e. P.T. KIMIA FARMA Tbk
f. P.T. MARIZARASA
g. P.T. MUSTIKA RATU
h. P.T. TRIPLE ACE
Market Situation
Very Competitive
Main Competitors
a. P.T. SYMRISE
b. P.T. MANE
c. P.T. ESSENCE
d. P.T. FIRMENICH
e. P.T. KABUINCO JAYA
f. P.T. JDH ERINDO JAYA
g. Etc.,
Business Trend
Growing
BANKER, AUDITOR &
LITIGATION
Bankers
:
a. P.T. Bank DANAMON
INDONESA Tbk
Jalan Prof. DR. Satrio Kav. E IV No. 6
Kuningan
b. P.T. Bank NIAGA
Tbk
Jalan Gajah Mada 18
Auditor :
Internal Auditor
Litigation
:
No litigation
record in our database
FINANCIAL FIGURE
Annual
Sales (estimated) :
2004 – Rp. 43.0 billion
2005 – Rp. 47.0 billion
2006 – Rp. 50.0 billion
Net Profit (Loss) :
2004 – Rp. 3.8
billion
2005 – Rp. 4.2
billion
2006 – Rp. 4.5
billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Hendra Kristiady
Narpati
Board of Commissioners :
President Commissioner - Mr. Jacky Husong Narpati
Commissioner -
Mr. Budiharsono Narpati
Signatories :
Director (Mr. Hendra Kristiady Narpati) which must be approved by
Supervisory Board.
CAPABILITIES
Management Capability :
Good
Business Morality
Good
Credit Risk
Average
Credit Recommendation
Credit should be proceeded with monitor
Proposed Credit
Limit
Small amount –
periodical review
Maximum Credit Limit
US$ 600,000.- on
the 90 days of payments
OVERALL PERFOMANCE
P.T. JUTARASA ABADI (P.T. JA) was established in
P.T. JA had been operating since 1985 in trading, distribution
and supply of fragrances, flavors, food color, natural aromatic and specialty
ingredients. The merchandising goods products such as raw material (cloudy,
xanthan gum) flavor (buleberry, raspberry, strawberry, butter milk, vanilla,
orange, graperfruit, cherry, mango), aromatic chemical and food additives,
fragrances, natural flavor and extracts, natural raw materials and tobacco
flavors, soy derivatives products and specialty ingredients. P.T. JA is a
distributor of P.T. BINTANG KREASI AROMA of
P.T. JA operates 15 offices around
The demand for ingredients and food ingredients and food
seasoning products has kept on rising by 10% to 12% per annum in the last three
years in line with the sustained growth in food and beverage processing
industry in
Until this time P.T. JA 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. 43.0 billion, increase to Rp. 47.0 billion in 2005 to Rp. 50.0
billion in 2006. The operation in 2006 yielded an estimated net profit by at
least Rp. 4.5 billion and the company has an estimated total net worth by at
Rp. 21.5 billion. It is projected that total sales turnover of the company will
increase at least 7% in 2007. So far, we did not hear that the company having
been black listed by the Central Bank (Bank
The management of P.T. JA is led by Mr. Hendra Kristiady Narpati (44) a businessman with has experienced for more than 15 years in trading, distribution, supply and manufacture of fragrances, flavors, food colors, aromatic chemical and specialty ingredients. We observed that management’s reputation in said business is fairly good. The company has had wide relation in the realm of the private businessmen inside and outside the country. 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. JUTARASA ABADI is 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%)