MIRA
INFORM REPORT
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Report Date : |
3rd March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
P.T. BATAN TEKNOLOGI |
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Registered Office : |
Kawasan Puspitek Gedung 70, Serpong, Tangerang 15310, Banten Province, Indonesia. |
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Country : |
Indonesia |
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Date of Incorporation : |
24.05.1996 |
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Com. Reg. No.: |
C2-166.HT.01.01.TH.97 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Ø Nuclear Fuel Element Production Ø Radioisotope Production Ø Instrumentation,
Engineering and Nuclear Technique Application |
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$ 220,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Name of company
P.T. BATAN TEKNOLOGI
Address
Head Office & Factory
Kawasan Puspitek Gedung 70
Serpong, Tangerang 15310
Banten Province
Indonesia
Phone - (62-21) 7560555, 7560562
Fax. - (62-21) 7560118
Email - hrdbtk@vision.net.id
Website - http : //www.batantek.co.id
Building Area - 4 storey
Office Space - 25,000 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation
24 May 1996
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No. C2-166.HT.01.01.TH.97
Dated 10 January 1997
Company Status
State Owned (BUMN) Company
Permit by the Government
Department
The Department of Finance
- NPWP No. 1.061.138.2-051
- No. KMK.016/1996
Dated 21 May 1996
Related Company
None
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 60,000,000,000.-
Issued Capital : Rp. 25,000,000,000.-
Paid up Capital : Rp. 25,000,000,000.-
Shareholder/Owner :
The Government of the Republic of Indonesia - Rp. 25,000,000,000.-
BUSINESS ACTIVITIES
Lines of Business:
a. Nuclear Fuel Element Production
b. Radioisotope Production
c. Instrumentation, Engineering and Nuclear Technique Application
Production Capacity
a. Uranium - 432 fuel p.a.
b. Radioisotope - 300 units p.a.
c. Radiopharmaceutical - 240 generators p.a.
Total Investment
Owned Capital - Rp. 60.0 billion
Started Operation
1996
Brand Name
None
Technical Assistance
NUKEM GmbH of Germany
Number of Employee
108 persons
Marketing Area
Domestic (Local) - 100 %
Main Customer
a. Industrial Manufacturing
b. Hospital
c. Research centers
Market Situation
Monopolistic
Main Competitors
None
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
Bankers
a. P.T. Bank MANDIRI Tbk
Plaza Mandiri
Jalan Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
b. P.T. Bank NEGARA INDONESIA Tbk
Wisma 46-Kota BNI
Jalan Jend. Sudirman Kav. 1
Jakarta 10220
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 13.0 billion
2005 – Rp. 14.0 billion
2006 – Rp. 16.2 billion
Net Profit (Loss) :
2004 – Rp. 210 million
2005 – Rp. 220 million
2006 – Rp. 280 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Dr. Ir.
Mulyanto Soerjodibroto, SE
Directors - a.
Mr. Drs. Zahiruddin A.
b. Mr. Widyatmoko, SH
c. Mr. Ir. Heru Suprapto, MM
d. Mr. Ir. Hasbullah Nasution
Board of Commissioner :
Chief
Commissioner - Mr.
Dr. Azhar Djaloeis
Commissioner - Mr. Supardja
Soekmasendjaja, MA
Signatories :
President Director (Mr. Dr. Ir. Mulyanto Soerjodibroto, SE) or
one of the Directors (Mr. Drs. Zahiruddin A, Mr. Widyatmoko, SH, Mr. Ir. Heru
Suprapto, MM or Mr. Ir. Hasbullah Nasution) which must be approved by the Board
of Commissioners
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$ 220,000.- on the 90 days of payments
OVERALL PERFOMANCE
P.T. BATAN TEKNOLOGI (P.T. BT) was established on 24 May 1996 in Jakarta
with an authorized capital of Rp. 60,000,000,000.- issued capital of Rp.
25,000,000,000.- entirely paid-up. Founders and shareholders are the Government
of the Republic of Indonesia and Mr. Widyatmoko SH., an indigenous businessman.
On 13 April 1998 the whole share controlled by the Government of the Republic
of Indonesia. The Deed of amendment was made by Mr. Fransiscus Jacobus Mawati
SH., a public notary in Jakarta under Company Registration Number
C2-166.HT.01.01.TH. 1997, dated January 10, 1997. P.T. BT is a state owned
(BUMN) company under the State Minister of Investment and Development of State
Enterprises.
P.T. BT started with operation in 1996 in nuclear fuel element
production by producing uranium 432 fuel per annum. Historically the plant to
produce fuel element is constructed under contract and cooperation between
national Atomic Agency of Indonesa “BATAN” and NUKEM GmbH of Germany in April
1982. In August 20, 1987 performed by Badan Tenaga Atom Nasional or National
Atomic Agency and presently changed into Badan Tenaga Nuklir Nasional or
National Nuclear Energy Agency. P.T. BT is also engaged in radioisotope production
by producing 300 unit of radioisotopes and 240 unit of radiopharmaceutical
generators per annum respectively. The plant is designed to handle enriched
uranium up to 20% enrichment, and able to produce the plate type fuel and
control elements for research centers.
All of the above activities are concentrated in Kawasan Puspitek
Serpong, Tangerang, Banten Province. Besides that P.T. BT is also engaged in
instrumentation, engineering and nuclear technique application. The activities
has been previously handled by the Nuclear Equipment Development and
Engineering Center (PPNR). Most of its service and products are used by the
manufacturing companies, hospitals and research centers.
Generally outlook, the demand
for uranium, radioisotope and instrumentation, engineering nuclear technique
application has kept on rising by 6% to 8% per annum within the last five years
in close relation with the progress of manufacturing companies, hospitals and
study centers using P.T. BT’s products and serves. The demand growth is
projected to rise only by 6% per annum within the next three years. There is
still no strong competition in the above business for there is only P.T. BT’s
company operating n the country today.
The management of P.T. BT’s very reclusive toward outsiders and rejected
to disclose its financial condition. However, we estimated that total sales
turnover in 2004 reached Rp. 13.0 billion, rose to Rp. 14.0 billion in 2005 to
Rp. 16.2 billion in 2006 and projected to be rising by at least 10% in 2007. The
operation of the company in 2006 is estimated to have gained a profit of Rp.
280 million with estimated networth of Rp. 105.0 billion. Besides, the company
has a punctual payment habit within 1 to 3 months. So far, we have never heard
of the company having been black listed by the Central Bank (Bank Indonesia).
P.T. BT’s management is led by Mr. Dr. Ir. Mulyanto Soerjodibroto (55)
as president director. In his day-to-day activities, he is assisted by Mr. Drs.
Zahiruddin A as the director of radioisotope production, Mr. Widyatmoko, SH as
the director of finance and administration, Mr. Ir. Heru Suprapto,MM as the
director of nuclear engineering and Mr. Ir. Hasbullah Nasution as the director
of nuclear fuel element production. The management is well experienced and
handled by professional managers in the above business. They have wide relation
with home and overseas private businessmen as well as with the government
sectors. So far, we have never heard of the management of the company being
filed to the district court for detrimental cases. P.T. BATAN TEKNOLOGI 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/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%)