MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
P.T. MULTI MULIA LANGGENG |
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Registered Office : |
Jalan Tanjung Priok No. 29 Block A-12, Tanjung Perak, |
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Country : |
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Date of Incorporation : |
1985 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Export Import of Agricultural 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$ 650,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Correct Name
of Company
P.T. MULTI MULIA LANGGENG
Address
Head Office &
Warehousing
Jalan Tanjung
Priok No. 29 Block A-12
Tanjung Perak,
Phones -
(62-31) 3299271-72
Fax. - (62-31) 3299274
E-mail - info@mlm.co.id
Website - http :
//www.mlm.co.id
Building Area -
5,000 sq. meters
Building Space -
3,000 sq. meters
Region - Industrial
Zone
Status - Rent
Branch
Jalan Pegangdaan Dua Km. 3 No. 88
Kelapa Gading
Phone - (62-21)
4615145
Fax - (62-21)
46827104
Building Area - 2,700 sq.
meters
Building Space - 2,000 sq. meters
Date of
Incorporation
1985
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Justice and Human Rights
No. W7-02706 HT.01.04.TH.2006
Dated 20 November 2006
Company Status
National Private Company
Permit by the
Government Department
The Directorate General of Tax
NPWP No. 1.716.258.7-605
Related Company
None
CAPITAL AND
OWNERSHIP
Capital Structure :
Authorized Capital
: Rp.
15,711,000,000.-
Issued Capital : Rp.
15,711,000,000.-
Paid up Capital : Rp.
15,711,000,000.-
Shareholders/Owners :
a. Mr. Tan Among Karso - Rp. 6,284,500,000.-
Address : Jl. Pasar Lama 1 No. 50 RT. 002/ RW. 06
Bali Mester,
b. Mr. Wiliam Kusuma - Rp.
4,713,500,000.-
Address : Jl. Cipinang Jaya RT. 007/03
Cipinang Muara,
c. Mr. Harpin Kusuma Nurherman - Rp.
4,713,000,000.-
Address : Jl. Cipinang Jaya RT. 007/03
Cipinang Muara,
BUSINESS ACTIVITIES
Lines of Business:
Export Import of Agricultural Products
Production Capacity
None
Total Investment
None
Started Operation
1985
Brand Name
None
Technical
Assistance
None
Number of Employee
52 persons
Marketing Area
Export - 50%
Local - 50%
Main Customer
Buyers in
Philippine and local distributors
Market Situation
Very Competitive
Main Competitors
a. P.T. ALPS &
CO.
b. P.T. SILKVAN
JAYA KURNIA
c. C.V. ARSAM
PRATAMA
d. P.T. USTRANESIA
e. C.V. MUKTI
JABAR
Business Trend
Growing
BANKER, AUDITOR
& LITIGATION
Bankers :
a. STANDARD CHARTERED Bank
Wisma Standard Chartered Bank
Jalan Jend. Sudirman No. 33 A
b. P.T. Bank
Jalan Raya Darmo
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2004 – Rp. 35.0
billion
2005 – Rp. 37.0
billion
2006 – Rp. 40.0
billion
Net Profit
(estimated) :
2004 – Rp. 4.0 billion
2005 – Rp. 4.2 billion
2006 – Rp. 4.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Wiliam Kusumah
Board of Commissioners :
President Commissioner -
Mr. Tan Among Karso
Commissioner - Mr. Harpin Kusuma Nurherman
Signatories :
Director (Mr. Wiliam Kusumah) 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$ 650,000 on 90 days D/A
OVERALL PERFOMANCE
P.T. MULTI MULIA LANGGENG
(P.T. MML) was established in
P.T. MML has been in operation since 1985 dealing with export
import and general supplier of agricultural products such as groundnuts,
brownbeans, mung beans and garlic. P.T. MML have more than 20 years more
experiences, starting from Surabaya, providing selective high qualities of
groundnuts, brownbeans, to the people of Indonesia, resulting from the
mainlands of Indonesia and some other supplier countries including India,
Malaysia, Thailand, China, Japan and South Korea. The company imported
groundnuts from
We have noticed that the demand for agricultural products had
increased some 10% to 11% per annum in the last five years in line with the
growth of industrial manufacturing in the country and international market. In
the coming years, the growth rate of demand is estimated at about 6% to 7% per
annum. The present market situation for agricultural products is very
competitive for a large number of similar companies operating in the country.
Meanwhile, competition is quite heavy in the export import of agricultural
products with many companies now doing business in this field in
Until this time P.T. MML 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. 35.0 billion increased to Rp. 37.0 billion in 2005 to Rp.
40.0 billion in 2006. It is projected that total sales turnover of the company
will be higher by at least 6% in 2007. We estimated the company has an
estimated total net profit at least Rp. 4.5 billion and the company has an
estimated total networth at least Rp. 18.0 billion. The
financial condition of the company is backed up by financially strong and sound
businessmen behind it. So far, we did not hear that the company having
been black listed by the Central Bank (Bank
The management of P.T. MML is headed by Mr. Wiliam Kusumah (37), a professional manager and businessman who has experienced for more than 7 years in the field of export import of agricultural products. But we are sure that primemover of the company his father Mr. Tan Among Karso (59). We observed that management’s reputation in said business is fairly good. The management of the company is handled by experienced professional manager having wide relation with private businessmen of home and overseas 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. P.T. MULTIMULIA LANGGENG 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. |
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%)