MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. SINAR INTIBERKAH SENTOSA |
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Registered Office : |
C/O P.T. Sinar Intiberkah Sejahtera, Komplek Multatuli Indah
Block E No. 21-22, |
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Country : |
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Date of Incorporation : |
2 June 2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Distribution and Supply of Boiler and Pressure Vessel (Planned) |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of Company
P.T. SINAR INTIBERKAH SENTOSA
Address
Head Office
c/o P.T. SINAR
INTIBERKAH SEJAHTERA
Komplek Multatuli
Indah Block E No. 21-22
Phone -
(62-61) 4510 386
Fax. - (62-61) 4510 380
Mobile Phone - 0811-605702 (Mr.
Ir. Suwandy Yutraya)
Building Area -
Office Space - 600 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation
2 June 2004
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Justice and Human Rights
No. C-11173
HT.01.01.TH.2005
Dated 25 April
2005
Company Status
Private Company
Permit by the
Government Department
The Directorate General of Tax
NPWP No. 02.200.234.9-121.000
Related Company
P.T. SINAR INTIBERKAH SEJAHTERA (Steel Fabrication, Contracting of
Refinery)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
: Rp.
100,000,000.-
Issued Capital : Rp. 25,000,000.-
Paid up Capital : Rp. 25,000,000.-
Shareholders/Owners :
a. Mr. Ir. Suwandy Yutraya - Rp. 23,750,000.-
Address : Jl. Warna No. 47
b. Mr. Muhammad Arifin - Rp.
1,250,000.-
Address : Gang
BUSINESS ACTIVITIES
Lines of Business:
Trading, Distribution and Supply of Boiler
and Pressure Vessel (Planned)
Agent for
THERMAZ Boiler of
Production Capacity
None
Total Investment
None
Started Operation
2008 (Planned)
Brand Name
THERMAZ Boiler and
Vessel
Technical Assistance
None
Number of Employee
1 person
Marketing Area
Domestic - 100%
Main Customer
Industrial Manufacturing (Planned)
Market Situation
Very Competitive
Main Competitors
a. P.T. PRASADA
SAMYA MUKTI
b. P.T. BOUSTEAD
MAXITHERM INDUSTRIES
c. P.T. GRAND
KARTECH
d. P.T. SARANA
RAPIPAK
e. P.T. TRIMITRA
WISESA ABADI
f. Etc.,
Business Trend
No Comment
BANKER, AUDITOR &
LITIGATION
Bankers :
a. P.T. Bank
b. P.T. Bank MANDIRI Tbk
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
None
Net Profit (Loss)
:
None
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Ir. Suwandy Yutraya
Board of Commissioners :
Commissioner - Mr. Muhammad Arifin
Signatories :
Director (Mr. Ir. Suwandy Yutraya)
which must be approved by Supervisory Board.
CAPABILITIES
Management Capability :
Satisfactory
Business Morality
Satisfactory
Credit Risk
High
Credit Recommendation
Credit is not recommended
Proposed Credit
Limit
C.O.D.
Maximum Credit Limit
We suggest to stop any new proposed loan to the company
OVERALL PERFOMANCE
P.T. SINAR INTIBERKAH SENTOSA (P.T. SIS) was incorporated on
June 02, 2004 in Medan, North Sumatera with an authorized capital of Rp.
100,000,000.- issued capital of Rp. 25,000,000.- entirely paid up. Founder and
shareholder of the company are Mr. Ir. Suwandy Yutraya, an Indonesian
businessman of Chinese origin and Mr. Muhammad Arifin, an indigenous
businessman. The deed of amendment was made by Mr. Eddy Simin, SH., a public
notary in
We observe that majority business stakes is controlled by Mr. Ir. Suwandy Yutraya. He is also majority business stakes owner of P.T. SINAR INTIBERKAH SEJAHTERA dealing with steel fabrication, contracting of refinery.
P.T. SIS planned to
We refrain from informing business prospect of P.T. SIS because
of having yet to be in commercial operation to date. Generally outlook, the demand
for industrial boilers had kept on rising by 10% to 12% per annum until mid
1997 in line with the rapid growth of industrial sectors as users, but later
declined under the impact of economic crisis battering
In view of having yet to be in commercial operation, the company’s financial condition is as much as the company’s issued capital worth Rp. 25,000,000. We find that the company’s financial condition still depends on the financial condition of its shareholders being supported by the businessmen behind it.
The management of P.T. SIS is led by Mr. Ir. Suwandy Yutraya (46) with 12 years of experience in steel fabrication contracting of refinery. He is also as president director of P.T. SINAR INTIBERKAH SEJAHTERA. The management will eventually be handled by professinal managers having wide relation with overseas and national private businessmen as well as with the government sectors. 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.
In view of P.T. SINAR INTIBERKAH SENTOSA having yet to be in commercial operation, we recommend that a high degree of prudence be observed in business transactions and an adequate collateral from its shareholders be acquired in extending a new 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%)