MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
P.T. TATARASA PRIMATAMA |
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Registered Office : |
Sentra Niaga Puri Indah Block T2/23, Puri Kembangan, Jakarta Barat,
11610 |
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Country : |
Indonesia |
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Date of Incorporation : |
05.10. 2000 |
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Com. Reg. No.: |
C-UM.02.01.17423 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importer, Supplying and Distribution of
Pharmaceutical Basic Material, Food Ingredients and Cosmetic Raw Materials |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 105,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of Company
P.T. TATARASA PRIMATAMA
A d d r e s s
Head Office
Sentra Niaga Puri
Indah Block T2/23
Puri Kembangan
Jakarta Barat,
11610
Indonesia
Phones - (62-21) 581 9123
(Hunting)
Fax - (62-21) 580 5558
Building Area - 2 storey
Office Space - 500 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation
5 October 2000
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No.
C-UM.02.01.17423
Dated 01 December
2005
Company Status
Private National
Company
Permit by the Government
Department
The Department of Finance
NPWP No.
1.998.077.0-035
Related Company
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
300,000,000.-
Issued Capital : Rp.
300,000,000.-
Paid up Capital : Rp.
300,000,000.-
Shareholders/Owners
:
a. Mr. Soekiandi ALia AKA Kian Hen - Rp.
270,000,000.-
Address : Jl. Mangga Dua Raya No. 39
Pinangsia, Taman Sari
Jakarta Barat
Indonesia1111
b. Mrs. Chandrayani Hardiyati -
Rp. 30,000,000.-
Address : Jl. P. Gebang Permai A5/9
Pulo Gebang, Cakung,
Jakarta Timur
Indonesia
BUSINESS ACTIVITIES
Lines of
Business:
Trading,
Importer, Supplying and Distribution of Pharmaceutical Basic Material, Food
Ingredients and Cosmetic Raw Materials
Production Capacity
None
Total Investment
None
Started Operation
2001
Brand Name
None
Technical Assistance
None
Number of Employee
8 persons
Marketing Area
Domestic
(Local) - 100%
Main Customer
a. P.T. PYRIDAM
FARMA Tbk
b. P.T. SANBE
FARMA
c. P.T. BINTANG
TOEJOE
d. P.T. NESTLE
INDONESIA
e. Etc.,
Market Situation
Very Competitive
Main Competitors
a. P.T. LAWSIM
ZECHA
b. P.T. WARIS
c. P.T. WAHANA
CHEMICAL INDONESIA
d. P.T. BINTANG
INTI TALENTA
e. C.V. SUMBER
MITRA NIAGA
f. Etc.,
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
B a n k e
r s :
a. P.T. Bank
INTERNATIONAL INDONESIA Tbk
Jalan Pintu Barat No. 69
Jakarta Barat
Indonesia
b. P.T. Bank
CENTRAL ASIA Tbk
Jalan Roa Malaka
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2005 – Rp. 7.2
billion
2006 – Rp. 7.5
billion
2007 – Rp. 8.0
billion
Net Profit
(Loss) :
2005 – Rp. 432
million
2006 – Rp. 450
million
2007 – Rp. 480
million
Payment Manner
:
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
Director - Mr. Soekiandi Ali AKA Kian Hen
Board of
Commissioner :
Commissioner -
Mrs. Chandrayani Hardiyati
Signatories :
Director (Mr. Soekiandi Ali AKA Kien
Hen) which must be approved by Board of Commissioners.
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$ 105,000 on 90 days D/A
OVERALL PERFOMANCE
P.T. TATARASA PRIMATAMA (P.T. TP) was established in Jakarta on 5
October 2000 with the authorized capital of Rp. 300,000,000 of which Rp.
75,000,000 was issued and fully paid up. The founding shareholders are Mr.
Soekiandi Ali AKA Kian Hen and his wife Mrs. Chandrayani Hardiyati, a business
family of Chinese origin. The company notary deed has been changed. In November
2005, the issued capital was raised to Rp. 300,000,000 wholly fully and paid
up. The deed of amended was made by Mr. Haji Rakhmat Syamsul Rizal, SH, MH., a
public notary in Jakarta, under Company Registration Number C-UM.02.01.17423,
dated December 1, 2005.
P.T. TP started with operation since 2001 dealing with trading,
importer, supplier and distribution of pharmaceutical basic materials and food
ingredients. Mr. Soekiandi Ali AKA Kien Hen, the director and owner of the
company, said that whole pharmaceutical basic materials and food ingredients
are imported from Malaysia, India and China with various types and specification.
The merchandising goods products are pharmaceutical products, food ingredients,
bulk drugs, food additives, cosmetic raw materials such as INOSIL, DRIED
CHIVES, GOS and FEED. She went on to say that whole merchandise products are
supplied among food processing industries and pharmaceutical industries
especially operating in Java. The company also supplies food ingredient basic
materials to P.T. DANONE INDONESIA, P.T. NESTLE INDONESIA, cosmetic raw
materials to P.T. UNZA VITALIS, P.T. MARTINA BERTO, pharmaceutical basic
materials to P.T. PYRIDAM PHARMA Tbk, P.T. SANBE FARMA, P.T. BINTANG TOEDJOE
and other food and pharmaceutical industries. The company had established the
strong relationship with the major drug formulation and food & beverages manufacturers.
We observe that P.T. TP has been growing in the last three years and is
classified as a small sized company of its kind in the country.
In overall we find the demand for
pharmaceutical basic materials had been rising in the last five years in line
with the growing of pharmaceutical industry in the country. The pharmaceutical products had been
growing in the last five years up to the end 2007 as pictured in sales value of
national pharmaceutical products, import value and export value issued by the
Food and Drug Controlling Board (BPOM). According the BPOM that national
pharmaceutical sales, import and export value of pharmaceutical products as
shown are as the following table.
National Market Trend
of Drugs, 2001-2007* (Billion Rupiah)
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Year |
Total Market |
Ethical Drugs |
Generic Drugs |
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2001 2002 2003 2004 2005 2006 2007* |
12.850 15.483 17.458 20.872 23.629 23.173 25.027 |
7.891
9.618 10.829 12.706 14.675 13.834 13.959 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 |
Source : Food and Drug Controlling
Board (BPOM)
*) Estimated
Until this time P.T. TP 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 2005 amounted to Rp. 7.2 billion rose to Rp. 7.5 billion in 2006
increased to Rp. 8.0 billion in 2007 and projected to go on rising by at least
6% in 2008. The operation in 2007 yielded an estimated net profit of at least
Rp. 480 million and the company has an estimated total networth of at least Rp.
1.0 billion. We observe that P.T. TP is supported by business family with has
financially not strong and sound behind it. So far, we did not heard that the
company having been black listed by the Central Bank (Bank Indonesia).
The company is led by Mr. Soekiandi Ali AKA Kian Hen (45), a businessman
and professional manager with has experienced for more than 8 years in the
field of trading, importer, supplying and distribution of pharmaceutical raw
materials, food ingredient and cosmetic raw materials. We observed that
management’s reputation in said business is sufficiently fairly good. The
company has had wide relation in the realm of the private businessmen within
and outside the country. 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. TATARASA PRIMATAMA 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. |
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%)