MIRA
INFORM REPORT
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Report Date : |
08.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
P.T. BERNAMAS MULTILAKSANA CIPTA |
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Registered Office : |
Jalan Ciputat Raya No. 27-C, Pondok Pinang, Jakarta Selatan,
12310 |
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Country : |
Indonesia |
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Date of Incorporation : |
04.09.1997 |
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Com. Reg. No.: |
C-07608 HT.01.04.TH.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Casing and Tubing for Oil and Gas
Mining |
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$ 473,000 |
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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. BERNAMAS MULTILAKSANA CIPTA
A d d r e s s
Head Office
Jalan Ciputat
Raya No. 27-C
Pondok Pinang
Jakarta Selatan,
12310
Indonesia
Phones - (62-21) 75902147 (Hunting)
Fax - (62-21) 75906449
Building Area - 2 storey
Office Space - 360 sq. meters
Region - Commercial
Building
Status - Rent
Warehouse
Bumi Serpong Damai
Banten Province
Date of Incorporation
4 September 1997
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
No. C-07608
HT.01.04.TH.2007
Dated 27 December
2007
Company Status
Private National
Company
Permit by the Government
Department
The Department of Finance
NPWP No. 1.832.355.0-011
The Department of Trade and Industry
No. SIUP/TDUP :
3.738/PB/X/2001
Dated 31 October
2001
Related Company
P.T. AMIL SAPTA
PESONA (Trading and Distribution of Oilfield Equipment)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized Capital
: Rp.
1,000,000,000.-
Issued Capital : Rp. 250,000,000.-
Paid up Capital : Rp. 250,000,000.-
Shareholders/Owners
:
a. Mr. Ir. Raden Kukuh Apriyanto - Rp.
112,500,000.-
Address : Jl. Batu Sulaeman No. 2A
Kayu Putih, Pulo Gadung,
Jakarta Timur
Indonesia
b. Mrs. Ir. Wardah Alkatiri - Rp. 75,000,000.-
Address : Jl. Tebet Dalam IV H No. 1
Tebet, Jakarta Selatan
Indonesia
c. Mrs. Siaw Aini
- Rp. 62,500,000.-
Address : Rusun Pluit MC 40 J
Penjaringan, Jakarta Barat
Indonesia
BUSINESS ACTIVITIES
Lines of
Business:
Trading and
Distribution of Casing and Tubing for Oil and Gas Mining
Production Capacity
None
Total Investment
None
Started Operation
1998
Brand Name
None
Technical Assistance
None
Number of Employee
21 persons
Marketing Area
Domestic
(Local) - 100%
Main Customer
a. P.T. PERTAMINA
b. CNOOC SES BV.
c. PETROCHINA
INTERNATIONAL JABUNG LTD.
d. VICO INDONESIA
e. BP
f. CHEVRON
INDONESIA COMPANY
g. Etc.,
Market Situation
Very Competitive
Main Competitors
a. P.T. AKER
KVAERNER INDONESIA
b. P.T. FMC
SANTANA PETROLEUM INDONESIA
c. P.T. WOOD
GROUP PRESSURE INDONESIA
d. P.T. HYMINDO
PETRONAS UTAMA
e. P.T. AKER
OILFIELD INDONESIA
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
B a n k e
r s :
a. P.T. Bank
NEGARA INDONESIA Tbk
Wisma 46-Kota BNI
Jalan Jend. Sudirman Kav. 1
Jakarta Pusat
Indonesia
b. P.T. Bank
INTERNATIONAL INDONESIA Tbk
Plaza BII
Jalan M.H. Thamrin No. 55
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2005 – Rp. 30.0
billion
2006 – Rp. 33.0
billion
2007 – Rp. 36.0
billion
Net Profit
(estimated) :
2005 – Rp. 1.5
billion
2006 – Rp. 1.6
billion
2007 – Rp. 1.8
billion
Payment Manner
:
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
President Director -
Mr. Ir. Raden Kukuh Apriyanto
Director -
Mrs. Ir. Wardah Alkatiri
Board of
Commissioner :
Commissioner -
Mrs. Siaw Aini
Signatories :
President Director (Mr. Ir. Raden Kukuh
Apriyanto) or the Director (Mrs. Ir. Wardah Alkatiri) 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$ 473,000 on 90 days D/A
OVERALL PERFOMANCE
P.T. BERNAMAS MULTILAKSANA CIPTA (P.T. BMC) was established in Jakarta
on 4 September 1997 with the authorized capital of Rp. 1,000,000,000 issued
capital of Rp. 250,000,000 entirely paid up. The original founding and
shareholders of the company are P.T. MULTIMEDIA PRASETYAKARYA, Mr. Mudanto
Hatta and Mr. Bachril Hidayat Bahjanoon, they are indigenous businessmen. The
company notary deed has been changed and in December 2000, P.T. MULTIMEDIA
PRASETYAKARYA, Mr. Mudanto Hatta, Mr. Bachril Hidayat Bahjanoon pulled out and
replaced by Mr. Ir. Raden Kukuh Apriyanto, Mrs. Ir. Wardah Alkatiri and Mr. Kho
Sofinis as new shareholders. The latest in November 2007, Mr. Kho Sofinis
pulled out and the whole share sold to Mrs. Siaw Aini as new shareholder.
The company latest shareholders are Mr. Ir. Raden Kukuh Apriyanto (45),
Mrs. Ir. Wardah Alkatiri (30%) and Mrs. Siaw Aini (25%). The deed of amended
was made by Mrs. Irma Bonita, SH, a public notary in Jakarta, was approved by
the Ministry of Law and Human Right in its Decision Letter No.
C-07608.HT.01.04.TH.2007, dated December 27, 2007. We observe that Mr. Ir.
Raden Kukuh Apriyanto is also founder an majority business stakes owner of P.T.
AMIL SAPTA PESONA dealing with trading and distribution of oilfield equipment.
P.T. BMC is dealing with trading, distribution and supplying of casing
and tubing for oil and gas mining. The company has been operating since 1998
and offers fine quality products in the form of petroleum industry equipment
and others including well control equipment, instrument, casing, tubing, pipes,
valves, drill pipe and others petroleum equipment with INLINE brand of the
United Kingdom, MIRFAOS of Malaysia and other brand from the USA. The other
products are valves, pipes, pressure equipment, gas compressors, generator,
pump & blower and flow mater. Beside that P.T. BMC is also carrying out the
installation of the above products, offers engineering services including
engineering design, project management, process studies, upgrades &
debottlenecking, vessel modifications, single source turkey, process hazard
analysis and technical services.
All of the merchandising goods and services are sold and used by its
customers in petroleum industry including P.T. PERTAMINA, P.T. CHEVRON PACIFIC
INDONESIA in Pekanbaru and Kalimantan, PETROCHINA INTERNATIONAL JABUNG LTD.,
BEYOND PETROLEUM, TOTAL E&P INDONESIE, CNOOC SOUTHEAST SUMATRA BV.,
VIRGINIA INDONESIA COMPANY, P.T. MEDCO E&P INDONESIA, P.T. MEDCO E&P
KALIMANTAN and others. Its other customers are oil refineries unit of P.T.
PERTAMINA including in Plaju, Dumai, Balikpapan, Balongan, Cilacap, and others.
The demand for oil and gas construction services has been growing slowly
in the last five years. The new investments in oil and gas exploration tend to
decline within the above period. The Indonesian State Oil & Gas Company
(P.T. PERTAMINA) and the foreign oil contracting firms are estimated to have
spent their US$ 5,900 million to US$ 8,500 million per annum for the purchasing
of oilfield equipments, construction and other petroleum services. The above
total spending is estimated to continue remaining at the same level in the next
five years. Although, the above given amount of total spending was relatively
big in volume but market competition will be very sharp particularly in
services and undersea works business considering many other similar companies
operating in the country.
The Growth Investment
of Oil and Gas and General Mining
in Indonesia,
2004-2006 (US$ Million)
|
Type |
2004 |
2005 |
2006 |
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Oil and Gas |
5.919 |
8.516 |
9.763 |
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Electric Power |
1.955 |
2.511 |
4.746 |
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Mineral, Coal and Geothermal |
1.056 |
945 |
1.306 |
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Total |
8.931 |
11.973 |
15.817 |
Source : Directorate General of Oil and Gas
(MIGAS)
Until this time P.T. BMC 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.
30.0 billion, increased to Rp. 33.0 billion in 2006 to Rp. 36.0 billion in 2007
and projected to go on rising by at least 7% in 2008. We estimated the company
gained a net profit of at least Rp. 1.8 billion in 2007 and the company has an
estimated total networth of at least Rp. 9.0 billion. We observe that P.T. BMC
is supported by financially fairly strong businessmen behind it. So far, we did
not hear that the company having been black listed by the Central Bank (Bank
Indonesia). The company usually pays its debts punctually to suppliers.
The management of P.T. BMC is led by Mr. Ir. Raden Kukuh Apriyanto (44)
a businessman with 11 years of experience in trading, supply and distribution
of high quality casing and tubing for oil and natural gas mining. He graduated
from Institute Technology Bandung (ITB) majoring in instrumentation engineer.
The management is quite creative and dynamic, having maintained a wide business
relation with private businessmen at home and abroad and with the government
sectors as well. We observed that management’s reputation in said business is
fairly good. 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. BERNAMAS MULTILAKSANA CIPTA 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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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%)