MIRA
INFORM REPORT
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Report Date : |
08.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
P.T. MITRA MULTI
TECHNINDO |
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Registered Office : |
Perum Kartika Warnasari, Block C4/1-2 Cibitung, Bekasi 17520 West Java |
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Country : |
Indonesia |
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Date of Incorporation : |
09.05. 2003 |
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Com. Reg. No.: |
C-20171.HT.01.01.TH.2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of high precision
parts, super precision bearing, power transmission, pump, PVD Coating, Cooper
material for resistant welding and military and communication equipments. |
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$ 100,000 |
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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. MITRA MULTI
TECHNINDO
A d d r e s s
Head Office
Perum Kartika
Warnasari, Block C4/1-2
Cibitung, Bekasi 17520
West Java
Indonesia
Phone - (62-21)
88321256, 88365406
Fax - (62-21) 88323251
Email - info@ptmmti.com
Website - http://www.ptmmti.com
Land Area - 360 sq. meters
Office Space - 180 sq. meters
Region - Residence
Status - Owned
Date of Incorporation
09 May 2003
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of
Law and Human Rights
No.
C-20171.HT.01.01.TH.2003
Dated 26 August
2003
Company Status
Domestic Private Company
Permit by the Government
Department
The Department of
Finance
NPWP No. 02.321.547.8-413.000
Related Company
Not Available
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
: Rp.
100,000,000.-
Issued Capital : Rp. 25,000,000.-
Paid up Capital : Rp. 25,000,000.-
Shareholders/Owners :
a. Mr. Budi
Purwanto - Rp.
17,600,000.-
Address : Perum Kartika Wanasari Block C.IV/2
Cibitung, Bekasi
West Java - Indonesia
b. Mr. Adi
Lazuardi -
Rp. 3,700,000.-
Address : Jl. KH Agus Salim Teluk Angsa
Bekasi, West Java
Indonesia
c. Mrs. Veely
Lazuardi -
Rp. 3,700,000.-
Address : Perum Kartika Wanasari Block C.IV/2
Cibitung, Bekasi
West Java - Indonesia
BUSINESS ACTIVITIES
Lines of Business:
Trading and Distribution of high precision
parts, super precision bearing, power transmission, pump, PVD Coating, Cooper
material for resistant welding and military and communication equipments.
Production Capacity
None
Total Investment
Owned Capital - Rp. 800
million
Started Operation
2001 when it was
named MITRA TEKNIK.
Brand Name
Diametal, Swiss Bore, Sanalloy, Wanco, Laird, Redcom, Tisas, Master,
Rochm, Mircona, IBC, Ringspann, Robushi, Mitra Coating and Polishing, Huys,
Brouwer Metaal.
Technical Assistance
None
Number of Employee
10 persons
Marketing Area
Domestic - 100%
Main Customers
a. P.T. KAYABA
INDONESIA
b. P.T. SHOWA
INDONESIA
c. P.T. NUSA
TOYOTETSHU CORP.
d. P.T. ASTRA
HONDA MOTOR
e. P.T. KAO
INDONESIA
f. Etc.
Market Situation
Very Competitive
Main Competitors
a. P.T. CENTRAL
FASTINDO SENTOSA
b. P.T. HILTI
NUSANTARA
c. P.T. KAWAN LAMA
SEJAHTERA
d. P.T. CAHAYA MAS
JATRA
e. PT.. SARANA
TEKNIK SEJAHTERA
f. Etc.
Business Trend
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r
s :
P.T. Bank MANDIRI Tbk
Mandiri Building
Jalan Ir. H.
Juanda No. 155
Bekasi, West Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2005 – Rp. 5.7
billion
2006 – Rp. 6.6
billion
2007 – Rp. 7.4
billion
Net Profit (Loss)
:
2005 – Rp. 340 million
2006 – Rp. 390 million
2007 – Rp. 420 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Budi Purwanto
Director - Mr. Adi Lazuardi
Board of Commissioners :
Commissioner -
Mrs. Veely Lazuardi
Signatories :
President Director (Mr. Budi Purwanto)
or Director (Mr. Adi Lazuardi) which
must be approved by Board of Commissioner (Mrs. Veely Lazuardi)
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$ 100,000.- on the 90 days of payments
OVERALL PERFOMANCE
P.T. MITRA MULTI TECHNINDO (P.T. MMT) was established in May 2003 with
the authorized capital of Rp.
100,000,000.- issued capital of Rp. 25,000,000.- wholly paid-up. Founders and
shareholders are Mr. Budi Purwanto, his wife Mrs. Veely Lazuardi and young
brother in-law Mr. Adi Lazuardi, wholly Chinese origin Indonesian family. No
revisions have occurred in its capitalization and shareholding composition to
date. The notary deed of company was
made by Mrs. Vera, SH., a public notary in Bekasi (West Java) under Company
Registration Number C-20271.HT.01.01.TH.2003, dated August 26, 2003.
P.T. MMT has been in operation as from 2001 (when is was named MITRA
TEKNIK, a sole proprietary company) in trading and distribution of high
precision part, super precision bearing, power transmission, pump, PVD Coating,
Cooper material for resistant welding and military and communication
equipments. Miss Rani Adistia, a
senior staff of P.T. MMT’s staff members disclosed that his company is
distributor of WANCO High Precision Parts of Singapore, HARMETAAL Carbide Tools
and Dies of Singapore, MIRCONA Tools of Singapore, SWISS BORE High Precision
Parts and Tools of Switzerland, BROUWER
METAAL Cooper Alloys of the Netherlands, ROBUSCHI Pumps of Italy, etc. The above merchandising goods are sold to
various tool machinery industry, workshop,
and others in Jakarta, Bandung and other Indonesian major cities. Main
customer of the company are P.T. KAYABA INDONESIA, P.T. ASTRA HONDA MOTOR, P.T.
SHOWA INDONESIA, P.T. NUSA TOYOTETSU CORP., tetc. P.T. MMT is still
classified as a small company in the above business in Indonesia and its
business operation has been growing within the last four year.
The demand for high precision
parts, precision bearing, cooper alloys, power transmission, industrial pump,
and tools had kept on rising until the
middle of 1997 in line with the growth of machinery industry in Indonesia, but
later declined until the end of 1999 as
the impact of the economic crisis battering Indonesia since mid 1997. It is
estimated that the demand growth will continue
on fluctuating within the next two or three years the economic condition
is still unstable. It is estimated the demand will be higher by at least 5% at
least until next year. The competition
is very tight on account of many similar companies operating in the country. We
note that the business position of P.T. MMT
is good in line with wide operational networks and marketing coverage.
Until this time P.T. MMT 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. 5.7 billion, increased to Rp. 6.6 billion
in 2006 and rose again to Rp. 7.4 billion in 2007 with a net profit of Rp. 420
million. It is projected hat total
sales turnover of the company will increase at least 12% in 2008. It is estimated the company has an estimated
total networth at least Rp. 800 million.
So far, we did not hear that the company having been black listed by the
Central Bank (Bank Indonesia).
P.T. MMT’s management is led by Mr. Budi Purwanto (35) with 7 years
experience in trading and distribution of high precision part, power
transmission, cooper material and
tools. In his day-to-day activities, he is assisted by his young brother
in-law Mr. Adi Lazuardi (31) as
director. The management is handled
by professional managers having wide relation with home and
overseas private businessmen. 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. MMT 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%)