MIRA
INFORM REPORT
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Report Date : |
14.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
P.T. CPA MULTI
INTERNUSA |
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Registered Office : |
Ruko Gading Bukit Indah No. 3, Jalan Gading Bukit Indah,
Kelapa Gading, Jakarta Utara |
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Country : |
Indonesia |
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Date of Incorporation : |
16.07.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export and Distribution of Paper and Plastic
Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Name of Company
P.T. CPA MULTI INTERNUSA
A d d r e s s
Head Office
Ruko Gading Bukit
Indah No. 3
Jalan Gading Bukit
Indah
Kelapa Gading
Jakarta Utara
Indonesia
Phones - (62-21) 4513708,
4513709
Fax - (62-21) 4528008
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Commercial
Building
Status - Rent
Warehouse
Jalan Madiun Block
C2 No. 10 E
Marunda, Cilincing
Jakarta Utara
Indonesia
Phones - (62-21) 44852757
(Hunting)
Fax - (62-21) 44851748
Land Area - 5,000 sq.
meters
Building Area - 3,800 sq.
meters
Region - Industrial
Zone
Status - Rent
Branch
Ruko Golden
Boulevard Block Q No. 38
Bumi Serpong Damai
Serpong, Tangerang
Banten Province
Indonesia
Phones - (62-21)
53161458, 53161459
Fax - (62-21) 5371357
Building Area - 2 storey
Office Space - 260 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation
16 July 2007
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
Pending
Company Status
Private National
Company
Permit by the Government
Department
Not Available
Related Companies
a. P.T. CAHAYA
MAS INDOPAPER (General Trading)
b. P.T. CAHAYA
MEGA GEMILANG (General Trading)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
200,000,000.-
Issued Capital : Rp.
200,000,000.-
Paid up Capital : Rp.
200,000,000.-
Shareholders/Owners
:
a. Mr. Teddy Wijaya -
Rp. 100,000,000.-
Address : Ruko Golden Boulevard Block Q
No. 38
Bumi Serpong Damai, Serpong, Tangerang
Banten Province
Indonesia
b. Mr. Richard Winata -
Rp. 100,000,000.-
Address : Jl. Pluit Karang Timur B8/94
Jakarta Utara
Indonesia
BUSINESS ACTIVITIES
Lines of
Business:
Trading, Export
and Distribution of Paper and Plastic Products
Production Capacity
None
Total Investment
None
Started Operation
November 2007
Brand Name
Aspex Kumbong
Technical Assistance
None
Number of Employee
18 persons
Marketing Area
Export - 100%
Main Customer
Buyers in Europe
Union, the USA, Middle East etc.
hMarket Situation
Very Competitive
Main Competitors
a. P.T. LISPAP
RAYA
b. C.V. LAMANDAU
c. P.T. PAPERPRO
INDONESIA
d. Etc.,
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) :
2007 – None
Net Profit
(Loss) :
2007 – None
Payment Manner
:
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
Director
- Mr. Teddy
Wijaya
Board of
Commissioner :
Commissioner -
Mr. Richard Winata
Signatories :
Director (Mr. Teddy Wijaya) which must
be approved by Board of Commissioners.
CAPABILITIES
Management
Capability :
Satisfactory
Business Morality
Satisfactory
Credit Risk
Above Average
Credit Recommendation
Credit should be under guarantee
Proposed Credit Limit
C.O.D. To small
amount
Maximum Credit Limit
No comment
OVERALL PERFOMANCE
P.T. CPA MULTI INTERNUSA (P.T. CMI) was established in Jakarta on 16
July 2007 with the authorized capital of Rp. 200,000,000 wholly issued and paid
up. The founding shareholders of the company are Mr. Teddy Wijaya and Mr.
Richard Winata, both are Indonesian businessmen of Chinese origins. The company
notary deed under still processing at the Department of Justice and Human Right
for legalization. We observe that Mr. Teddy Wijaya is also founder and business
stakes owners of P.T. CAHAYA MAS INDOPAPER and P.T. CAHAYA MEGA GEMILANG both
are engaged in general trading.
P.T. CMI started with operation in December 2007 dealing with trading,
distribution and exporter of paper and plastic products. The merchandise goods
are polypropylene (PP), low density polyethylene and high density polyethylene
(PE), plastic resins, plastic drinking straws, and paper products with various
size and types such as copy paper and concorder paper. The whole paper product
is bought from paper industries from Perawang such as P.T. RIAU ANDALAN PULP
AND PAPER, P.T. INDAH KIAT PULP AND PAPER and also from P.T. CAHAYA PRATAMA
ABADI BATAM in Batam Island, Kepulaun Riau province. Mr. Tubagus Adi, the
company HR&D staff explained that whole merchandise goods are exported to
Southeast Asia, South America, North America, Easter Europe, Africa, Middle
East and others. We observe that P.T. CMI is classified as a small sized
company in the country dealing with trading, distribution and exporting of
papers and plastic product of which just newly in operation.
Generally, demand for paper,
printing paper, coated paper and specialty paper has kept increasing in the
last five years in line with the growth of industries using these products
including printing services, book publishing, and other industries. The
increase in paper products in the county during the economic crisis in the last
several years was attributable to the absorbing power of the users being still
growing sufficiently. The competition is very tight on account many similar
companies operating in the country. The business position of P.T. CMI is
favorable because the whole product is exported.
The Development and Supply of Printing Paper, 2000 -
2006
|
Year |
Production |
Volume (Ton) |
Growth % |
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Import |
Export |
Supply |
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2000 |
2,686,050 |
26,091 |
1,176,739 |
1,535,402 |
- |
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2001 |
3,406,050 |
46,477 |
2,048,483 |
1,404,044 |
-8.56 |
|
2002 |
3,956,050 |
84,042 |
2,239,254 |
1,800,838 |
28.26 |
|
2003 |
3,325,200 |
60,103 |
2,135,473 |
1,249,830 |
-30.60 |
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2004 |
3,200,500 |
95,670 |
1,904,044 |
1,392,126 |
11.39 |
|
2005 |
3,617,334 |
86,123 |
2,259,822 |
1,443,635 |
3.70 |
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2006* |
3,657,478 |
92,981 |
2,305,779 |
1,444,680 |
0.07 |
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Average Growth,, %/Years |
0.71 |
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Source : Central Bureau of
Statistic (BPS), processed by ICB
We assessed that financial situation of P.T. CMI has not strong enough
cause the company just newly in operation. Financial power of PT. CMI presently
is about Rp. 200 million that is paid-up capital pursuant to the deed of
notary. Other than, trading business license and license from the Department of
Law and Human Rights have not been obtained. 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. Teddy Wijaya (33), a businessman and
professional manager with has experienced for more than 7 years in the field of
general trading export of paper product and plastic products. 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. CPA MULTI INTERNUSA 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%)