MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. ALASMAS
BERKAT UTAMA |
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Registered Office : |
Komplek Pergudangan Cikupa Mas II,
Jalan Bhumimas Raya No. 15, Cikupa, Tangerang 15710, |
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Country : |
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Date of Incorporation : |
22 May 2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Safety Shoe Manufacturing |
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$ 20,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of Company
P.T. ALASMAS BERKAT UTAMA
Address
Head Office & Factory
Komplek Pergudangan Cikupa Mas II
Jalan Bhumimas Raya No. 15
Cikupa, Tangerang 15710
Phones - (62-021) 59404361, 59404362
Fax -
(62-021) 59404366
Land Area - 2,600 sq.
meters
Building Space - 2,200 sq. meters
Region - Warehousing
Complex Zone
Status - Rent
Marketing Office
Jalan Cideng Barat
No. 43-A
Phone -
(62-021) 6327060, 6327065
Fax. - (62-021) 63851240, 63851241
Email - berkat@indosat.net.id
Building Area - 3 storey
Office Space - 180 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation
22 May 2000
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No.
C-19297.HT.01.04.TH.2003
Dated 14 August
2003
Company Status
Domestic Private Company
Permit by the
Government Department
The Department of Finance
NPWP No. 01.933.520.7-033.000
Related Companies
a.
P.T. BERKAT NIAGA DUNIA (Trading and Distribution
of Fire & Safety Equipments)
b.
P.T. BERKAT KESELAMATAN DUNIA (Trading and
Distribution of Fire & Safety Equipments)
c.
Etc.
CAPITAL AND
OWNERSHIP
Capital Structure :
Authorized Capital
: Rp. 5,000,000,000.-
Issued Capital : Rp. 5,000,000,000.-
Paid up Capital : Rp. 5,000,000,000.-
Shareholders/Owners :
a. Mr. Indrawan Hartanu - Rp 2,375,000,000.- (47.5%)
Address : Jl.
Blok H2 No. 35
b. Mr. Bonifacius Suryadi - Rp 125,000,000.- ( 2.5%)
Address ; Jl. Bandeng Raya No.
4
c. Mrs. Safrida Lena - Rp 2,375,000,000.-
(47.5%)
Address : Jl.
Blok H2 No. 35
d. Miss Lusy Hartanu - Rp 125,000,000.- (2.5%)
Address : Jl. Taman Kebon
Jeruk Blok 9 IX/3
BUSINESS ACTIVITIES
Lines of Business:
Safety Shoe Manufacturing
Production Capacity
Safety Shoes - 800,000 pairs
p.a.
Total Investment
a. Equity Capital - Rp.
5.0 billion
b. Loan Capital - Rp.
5.0 billion
c. Total
Investment -
Rp. 10.0 billion
Started Operation
2001
Brand Name
HOWLER and
KRUSHERS
Technical
Assistance
Number of Employee
302 persons
Marketing Area
Domestic - 10%
Export - 90%
Main Customer
Buyers in
Market Situation
Very Competitive
Main Competitors
a. P.T. OSHA
b. P.T. HENGTRACO
PROTECSINDO
c. P.T. MITRA
GABATA DINAMIKA
d. C.V. GRAND SHOE
INDUSTRY
e. P.T. KING’S
SAFETYWEAR
Business Trend
Growing
BANKER, AUDITOR
& LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk
Jalan MH. Thamrin No. 5
b. P.T. Bank
Negara
Tangerang Branch
Jalan Jend. Sudirman No. 1
c. Hongkong and Shanghai Banking Corp. Ltd.
Jalan Jend. Sudirman Kav.
29-31
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 30.0
billion
2005 – Rp. 35.0
billion
2006 – Rp. 46.0
billion
2007 – Rp. 28.5
billion (January – June)
Net Profit (Loss)
:
2004 – Rp. 1.0 billion
2005 – Rp. 1.2 billion
2006 – Rp. 1.6 billion
2007 – Rp. 0.9 billion (January – June)
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
President Director - Mr. Bonifacius Suryadi
Director -
Mr. Indrawan Hartanu
Board of Commissioners :
President Commissioner -
Mrs. Safrida Lena
Commissioner - Miss Lusy Hartanu
Signatories :
President
Director (Mr. Bonifacius Suryadi) or
Director (Mr. Indrawan Hartanu) which must be approved by Board of
Commissioners (Mrs. Safrida Lena and Miss Lusy Hartanu)
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$ 20,000,000.- on the 90 days of payments
OVERALL PERFOMANCE
ALASMAS BERKAT UTAMA (P.T. ABU) was established
in May 2000 with the authorized capital of Rp. 2,000,000,000 entirely issued
and paid up. The founding shareholders are Mr. Norman Legana, Mr. Indrawan
Hartanu, his wife Mrs. Safrida Lena, Mr. Bonifacius Suryadi, Mr. Marta Gunawan
and Mr. Mario Susanto, all are Indonesian of Chinese extraction. The articles
of association of the company have frequently been revised. In December 2001,
the authorized capital was raised to Rp. 5,000,000,000 entirely issued and paid
up. In June 2003, Mr. Norman Legana, Mr. Marta Gunawan and Mr. Mario Susanto
withdrew and into the company entered Miss. Lusy Hartanu as a new shareholder. The deed of amendment was made by
Ms. Linda Herawati, SH., a public notary in
The majority business stakes of P.T. ABU are
controlled by Mr. Indrawan Hartanu and his family members. This family are also
the majority business stake owner of P.T. BERKAT NIAGA DUNIA and P.T. BERKAT
KESELAMATAN DUNIA, both are dealing with trading and distribution of fire &
safety equipment.
P.T. ABU has been in operation since 2001
dealing with safety shoes industry. Its plant is located in Cikupa Mas II
Warehousing Complex, Jalan Bhumimas Raya No. 15, Cikupa, Tangerang,
Generally, demand for safety shoes has been increasing by 5% to 6% in
the last five years in which it had drastically been decreasing as the impact
of the economic crisis in the country in 1997. However, the competition is very
tight on account of lots of similar companies dealing with shoe safety
manufacturing such as P.T. KING’S SAFETYWEAR
The company is neither public listed nor bond issued company. Therefore, the company has no obligation to
publish financial statements publicly.
We have checked to Department of Trade and Industry and found that no
financial statement has been reported.
We estimated that total sales turnover of P.T. KSW in 2004 amounted to
Rp. 30.0 billion soared to Rp. 38.0 billion in 2005 to Rp. 46.0 billion in 2006
and projected to be rising by at least 12% in 2007. The operation of the
company in 2006 is estimated to have gained a net profit of Rp. 1.6 billion
with a total networth of Rp. 8.0 billion.
So far we have never heard that P.T. ABU has been black listed by Bank
The management of P.T. ABU is led by Mr.
Bonifacius Suryadi (64) with 25 years of experience in the above business. In
his daily activities, he is assisted by Mr. Indrawan Hartanu (60) as
director. The management is handled by experienced professional
managers having wide relation with private businessmen of home and overseas as
well as with the government sectors. So
far, we did not hear that P.T. ABU has been involved in business malpractices
or detrimental cased being settled in local district court.
P.T. ABU is appraised to be good for normal 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. |
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%)