MIRA
INFORM REPORT
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Report Date : |
3rd March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
P.T. BANI BAGELEN PERKASA |
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Registered Office : |
Jalan Puri Anjasmoro Block EE 3 No. 15, Tawangsari, Semarang , Central Java, Indonesia. |
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Country : |
Indonesia |
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Date of Incorporation : |
05.02.2004 |
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Com. Reg. No.: |
C-07348 HT.01.01.TH.2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Hardware and Wire 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$ 57,800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of company
P.T. BANI BAGELEN PERKASA
Address
Head Office
Jalan Puri Anjasmoro Block EE 3 No. 15
Tawangsari, Semarang
Central Java
Indonesia
Phone - (62-24) 761 0132
Fax. - (62-24) 761 5963
Building Area - 2 storey
Office Space - 160 sq. meters
Region - Commercial Building
Status - Rent
Date of Incorporation
5 February 2004
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No. C-07348 HT.01.01.TH.2004
Dated 25 March 2004
Company Status
Private Company
Permit by the Government
Department
The Department of Finance
NPWP No. 02.154.699.9-503
Related Company
P.T. INDO SAMUDERA PERKASA (Freight Forwarding Services and Trading)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 2,000,000,000.-
Issued Capital : Rp. 600,000,000.-
Paid up Capital : Rp. 600,000,000.-
Shareholders/Owners :
a.
Mr. Bambang Supriadi -
Rp. 250,000,000.-
Address : Jl. Wonosari 1 No. 27
Semarang, Central Java
Indonesia
b.
Mr. Haji Abdoel Azis -
Rp. 200,000,000.-
Address : Jl. Wonosari 1 No. 27
Semarang, Central Java
Indonesia
b.
Mrs. Liliek Kelana Jaya -
Rp. 150,000,000.-
Address : Jl. Kembang Jeruk II No. 18
Semarang, Central Java
Indonesia
BUSINESS ACTIVITIES
Lines of Business:
Trading and Distribution of Hardware and Wire Products
Production Capacity
None
Total Investment
None
Started Operation
April 2004
Brand Name
None
Technical Assistance
None
Number of Employee
8 persons
Marketing Area
Domestic (Local) - 100 %
Main Customer
General Contracting Companies
Market Situation
Very Competitive
Main Competitors
a. P.T. BEVANANDA MUSTIKA
b. PD. FRANINDO PERKASA
c. P.T. BATARA GUIZHIO
d. P.T. SUTHA KARYA STEELINDO
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
Banker
a. P.T. Bank INTERNATIONAL INDONESIA Tbk
Semarang Main Branch
Central Java
Indonesia
b. P.T. Bank LIPPO Tbk
Semarang
Main Branch
Central Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 3.7 billion
2005 – Rp. 4.0 billion
2006 – Rp. 4.4 billion
Net Profit (Loss) :
2004 – Rp. 185 million
2005 – Rp. 200 million
2006 – Rp. 220 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Bambang Supriadi
Board of Commissioner :
President Commissioner
- Mr. Haji Abdoel Azis
Commissioner -
Mrs. Liliek Kelana Jaya
Signatories :
Director (Mr. Bambang Supriadi) 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$ 57,800 on 90 days D/A
OVERALL PERFOMANCE
P.T. BANI BAGELEN PERKASA (P.T.
BBP) was established in Semarang, Central Java on 5 February 2004, with an
authorized capital of Rp. 2,000,000,000.- issued capital of Rp. 600,000,000.-
entirely paid up. The founding shareholders of the company are Mr. Bambang
Supriadi, Mr. Haji Abdoel Azis and Mrs. Liliek Kelana Jaya, they are indigenous
businessmen. The deed of amended was made by Prof. DR. Liliana Tedjosaputro,
SH, MH, a public notary in Semarang, Central Java, under Company Registration
Number C-07348 HT.01.01.2004, dated February 5, 2004. We see, that majority
business stakes is controlled by Mr. Bambang Supriadi. He is also founder and
majority business stakes owner of P.T. INDO SAMUDERA PERKASA dealing with
freight forwarding trading.
P.T. BBP has been in operating in
April 2004 in trading and distribution of hardware and wire products. All the
products are wire, spring wire, bead wire, steel wire, locks and other wire
products. The merchandising goods is imported from China and India. Meanwhile, the
company is also imported varnish from India. Mr. Bambang Supriadi, the director
of the company disclosed that the merchandising goods and services are sold and
used by its customers in general construction companies especially operating in
Semarang and surroundings. The company also supplied the product through
building material shops in Central Java. We see that the company’s operation
has been growing slowly in the last three years.
The demand for technical
equipment including hardware, wire products, locks and other building material
has kept on rising by 8% to 10% per annum in the last five years. Such
condition was in line with the growth of general construction industry like
building construction, hotel and apartment construction, office building construction
and other industrial sectors requiring the above products. It is projected that
the demand growth will be rising within the next five years. Market competition
is very tough on account of many other similar companies operating in
Indonesia. P.T. BBP’s business position in this case is not too badly because
it has established regular customers and extensive marketing network.
Until this time P.T. BBP 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.
3.7 billion increased to Rp. 4.0 billion in 2005 and to Rp. 4.4 billion in
2006. The operation in 2006 yielded an estimated net profit at least Rp. 220
million and the company has an estimated total networth at Rp. 700 million. It
is forecasted that total sales turnover of the company will be higher by at
least 7% in 2006. We observe that P.T. BBP is supported by financially fairly
strong behind it. So far, we have never heard of the company having been black
listed by the Central Bank (Bank Indonesia). The company disclosed that the
company usually pays its debts punctually to suppliers.
The company is led out by Mr. Bambang Supriadi (30), a businessman who
experienced for more than 3 years in the field of trading and distribution of
hardware, locks and wire products. We observed that management’s reputation in
said business is sufficiently fairly good. The management is handled by
professional staff having wide relation with home and overseas private
businessmen as well as with the government sectors. 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. BANI BAGELEN PERKASA 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%)