MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
P.T. ALUMINDO LIGHT METAL INDUSTRY Tbk |
|
|
|
|
Formerly Known As : |
P.T. Tbk (Perseroan
Terbatas Terbuka) |
|
|
|
|
Registered Office : |
Maspion Industrial Estate Unit 1, Sawotratap, Gedangan,
Sidoarjo 61254, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
26.06.1978 |
|
|
|
|
Com. Reg. No.: |
No. AHU-61811.AH.01.02.TH.2009 |
|
|
|
|
Legal Form : |
Publicly Listed Company |
|
|
|
|
Line of Business : |
Aluminum Sheet and Foil Manufacturing |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 9,500,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Name
of Company
P.T. ALUMINDO LIGHT METAL INDUSTRY Tbk
Company
Address
Head
Office & Factory
MASPION Industrial Estate Unit 1
Sawotratap, Gedangan
Sidoarjo 61254
Phones -
(62-31) 8531531, 8532208, 8532994
Fax -
(62-31) 8532608
E-mail - admin@alumindo.com
Land Area - 10.7 hectares
Building Area - 48,500 sq. meters
Region - Industrial Estate
Status - Owned
Date
of Incorporation
a. 26 June 1978 as P.T. ALUMINDO LIGHT
METAL INDUSTRY
b. 30 June 1998 as P.T. ALUMINDO LIGHT
METAL INDUSTRY Tbk
Legal
Form
P.T. Tbk (Perseroan Terbatas Terbuka)
or Publicly Listed Company
Company
Reg.No.
The Ministry of
Law and Human Rights
- No.
AHU-80596.AH.01.02.TH.2008
Dated
31 October 2008
- No.
AHU-61811.AH.01.02.TH.2009
Dated
16 September 2009
Company
Status
Domestic Investment (PMDN) Company
Permit
by the Government Department
The Department of Finance
NPWP No. 01.122.572.9-092.000
The Capital Investment Coordinating
Board
- No. 147/I/PMDN/1980
Dated 20 October 1980
- No. 48/II/PMDN/1986
Dated 23 July 1986
- No. 200/II/PMDN/1990
Dated 3 April 1990
- No. 36/II/PMDN/1992
Dated 20 March 1992
- No. 157/II/PMDN/1995
Dated 19 June 1995
The Department of Industry
No. 252/T/Industri/1995
Dated 9 May 1995
The Capital Market Supervisory Agency
No. S-200/PM/1996
Dated 11 December 1996
Related Company :
A Member Company of the MASPION Group
(see attachment)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp.
209,000,000,000.-
Issued Capital : Rp. 154,000,000,000.-
Paid up Capital : Rp. 154,000,000,000.-
Shareholders/Owners :
a. P.T.
HUSIN INVESTAMA -
Rp. 49,436,294,500.-
b. P.T.
MARINDO INVESTAMA -
Rp. 23,364,869,000.-
c. P.T.
SATRIA INVESTINDO -
Rp. 19,102,426,000.-
d. P.T.
GUNA INVESTINDO -
Rp. 9,800,000,000.-
e. P.T.
PRAKINDO INVESTAMA -
Rp. 9,609,676,000.-
f. P.T.
MULINDO INVESTAMA -
Rp. 9,115,926,000.-
g. P.T.
ANUGERAH INVESTAMA -
Rp. 4,384,215,000.-
h. P.T.
ALUMINDO INDUSTRIAL ESTATE -
Rp. 4,299,250,000.-
i. Mr.
Alim Markus -
Rp. 2,263,750,000.-
j. Mr.
Gunardi -
Rp. 140,000,000.-
k. Mr.
Welly Muliawan -
Rp. 60,000,000.-
l. Mr.
Budiprajogo Limanto -
Rp. 6,250,000.-
m. P.T.
ALIM INVESTINDO -
Rp. 5,093,500.-
n. Publics
below 5% -
Rp. 22,412,250,000.-
BUSINESS ACTIVITIES
Lines of Business :
a. Aluminum Sheet and Foil
Manufacturing
b. Investment Holding
Production Capacity :
a. Aluminum Sheets - 144,000 tons p.a.
b. Aluminum Foils - 15,600 tons p.a.
c. Aluminum Roofing - 10,000 tons p.a.
Total Investment :
a. Equity Capital - Rp. 154.0
billion
b. Reinvested Profit - Rp. 54.0 billion
c. Loan Capital - Rp. 183.4 billion
d. Total Investment - Rp. 391.4 billion
Started Operation :
1983
Brand Name :
ALMIT
Technical Assistance :
None
Number of Employee :
1,251 persons
Marketing Area :
Domestic (Local) - 47%
Export -
53%
Main Customers :
a. P.T. ANEKA KABEL CIPTAGUNA
b. P.T. CATERLINDO
c. P.T. INDAL ALUMINUM INDUSTRY Tbk
d. P.T. FURUKAWA INDAH ALUMINUM
e. P.T. MASPION
f.
P.T. TJAKRINDO MAS
g. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALUPRIMA PACIFIC INDUSTRIES
b. P.T. ALAKASA EXTRUSINDO
c. P.T. ALAKASA INDUSTRINDO Tbk
d. P.T. CALINDO DAMAI SEJAHTERA ABADI
e. P.T. MAKMUR JAYA PERKASA
f.
P.T. SUPEREX RAYA
Business Trend :
Fluctuating
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk
Jalan Gentengklai No. 93-96
b. P.T. Bank DANAMON
Jalan Jend. A. Yani No. 7
c. Hongkong and Shanghai Banking Corp.
Ltd.
Jalan Jend. Basuki Rachmat No. 106-128
d. ABN AMRO Bank N.V.
Jalan Pemuda No. 54
Auditor :
Paul Hadiwinata, Hidayat, Arsono &
Rekan
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales :
2008 – Rp. 2,376.8 billion
2009 – Rp. 1,754.2 billion
2010 – Rp. 3,019.1 billion
Net Profit (Loss) :
2008 – Rp. 4.7 billion
2009 – Rp. 26.2 billion
2010 – Rp. 43.7 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President
Director - Mr. Alim Markus
AKA Lim (Go) Wen Kwang
Directors - a.
Mr. Alim Satria
AKA Lim (Go) Wen Ing
b. Mr. Alim Prakasa
AKA Lim (Go) Wen Tjoen
c. Mr. Welly Muliawan
d. Mrs. Debora Novita Ziashari
e. Mrs. Debora Novita Ziashari Wibisono
Board of Commissioner :
President Commissioner - Mrs. Angkasa Rachmawati
Commissioners - a. Mr. Alim Mulia Satria
AKA Lim (Go) Won Hong
b. Mr. Gunardi
AKA Lim (Go) Kiem Pien
c. Mr. Supranoto Dipokusumo
d. Mr. Budiprajogo Limanto
Signatories
:
President
Director (Mr. Alim Markus) or one of the Directors (Mr. Alim Satria, Mr. Alim
Prakasa, Mr. Welly Muliawan or Mrs. Debora Novita Ziashari Wibisono) 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$ 9,500,000 on 90 days D/A
OVERALL PERFORMANCE
P.T. ALUMINDO LIGHT METAL INDUSTRY Tbk or abbreviated ALMIT (ex. P.T. ALUMINDO LIGHT METAL INDUSTRY) was established in June 1978, with an authorized capital of Rp. 1,100,000,000 issued capital of Rp. 220,000,000 entirely paid up. The founders and original shareholders of the company were Mr. Alim Husin AKA Go Kiem Moey, his wife Mrs. Angkasa Rachmawati AKA Ong Sui Eng and their children. Mr. Alim Markus AKA Go Wen Kwang, Mr. Alim Mulia Sastra AKA Go Wen Hong, Mr. Alim Satria AKA Go Wen Ing, Mr. Alim Puspita AKA Go Sioe Lan, Mr. Alim Prakasa AKA Go Wen Tjoen and Mr. Gunardi (Mr. Alim Husin's brother). They are a Chinese origin Indonesian family. The company notary deed has been changed a couple of times. In December 1996 part of its shares were sold to public through the Indonesian Stock Exchange (BEI).
According to the latest notary act revision in 1998 the
authorized capital of P.T. ALMIT amounted to Rp. 209,000,000,000 issued and
paid up capital to Rp. 154,000,000,000. The company latest shareholders are P.T.
HUSIN INVESTAMA (32.10%), P.T. MARINDO INVESTAMA (15.17%), P.T. SATRIA
INVESTINDO (12.40%), P.T. GUNA INVESTINDO (6.36%), P.T. PRAKINDO INVESTAMA
(6.24%), P.T. MULINDO INVESTAMA (5.92%), P.T. ANUGERAH INVESTAMA (2.85), P.T.
ALUMINDO INDUSTRIAL ESTATE (2.79%), P.T. ALIM INVESTINDO (0.00%) all a member
company of the MASPION Group, Mr. Alim Markus (1.47), Mr. Gunardi (0.09), Mr.
Welly Muliawan (0.04%), Budi Prayogo Limanto (0.00%) and Publics (14.55%). The
deed of amended was made by Mr. Sutjipto, SH, a public notary in
We observe that the above shareholding companies are all
national private companies which the whole shares were controlled by Mr. Alim
Husin’s family. They are also the majority business stakes owners and
primemovers of the MASPION Group, a major business group in
P.T. ALMIT is engaged in aluminum sheet and foils industry
and had been operating commercially since the early 1983. Its plant is located
at Maspion Industrial Estate Unit I, Desa Sawotratap, Gedangan, Sidoarjo,
Further in early
of 2009, P.T. ALMIT has expanding its production capacity by produces of
aluminum sheets of 59,440 tons per annum. The company had increased aluminum
sheet production capacity from 84,000 tons per year to 144,000 tons per year.
The Increased production conducted since early 2009 done in line with the
increasing of the company’s exports to the
P.T. ALMIT
produces aluminum sheet with thickness of 0.15 mm - 7.0 mm, and aluminum foil
of 0.007 mm - 0.15 mm. In 2005, some 53% of the company’s products were for
export markets especially to Empire Resources Inc, Galex Inc, Sunwell Metal
Ltd, Porn Prom Metal Co. Ltd, Glencore International AG, Hydro Aluminum AS, and
Comalco Aluminum Ltd. The sales of the products are supported by its partners
and associates like Fung Lam Trading Company Ltd (Hong Kong), Taiwan Concorde (
Besides, P.T. ALMIT is also engaged in investment holding by controls 18% shares of P.T. ANEKA KABEL CIPTAGUNA, engaged in electric cable industry with its plant located at Maspion Industrial Estate Unit II, Desa Banjar Kemantren, Buduran, Sidoarjo, had been operating since August 1995.
Generally, demand
for aluminum sheet and aluminum foil has been fluctuating in the last five
years. The demand is extremely influenced by the growth of cigarette
industries, food and beverage industries, pharmaceutical industries,
properties, and other business sectors in the country using the above products.
It is projected that the demand will be rising by 6% per annum in the coming
three years. The competition is very tight on account of many similar local and
imported products offered in the local market. Basically, P.T. ALMIT is one of
the foremost of aluminum sheet and aluminum foil producer in the country. The
weakening demand and increasing in basic materials prices have made the company
activities to be less profitable.
The Export Volume and Value of Aluminum
Products 2005 –
2010*
|
Description |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
|
280.7 |
315.0 |
293.4 |
282.5 |
257.9 |
20.8 |
|
|
Value (million |
612.9 |
862.5 |
868.2 |
865.3 |
527.0 |
52.6 |
Source: Central Bureau of
Statistic (BPS)
* January
According to the
financial statement of P.T. ALMIT audited by a public accountant, total sales
turnover of the company in 2008 amounted Rp. 2,376.8 billion with a net profit
of Rp. 4.7 billion dropt to Rp. 1,754.2 billion with a net profit of Rp. 26.2
billion in 2009 went up to Rp. 3,019.1 billion with a net profit of Rp. 43.7
billion in 2009 and projected to go on rising by at least 5% until 2011. So
far, we did not heard that the company having been black listed by the Central
Bank (Bank
The management of P.T. ALMIT is headed by Mr. Alim Markus
AKA Go Wen Kwang (58), a businessman with experience for some 38 years in many
business activities in the MASPION Group. The management is also handled by a number of professionals with wide
experience and expertise in aluminum products industry and trade. We observed that management’s reputation in
said business is sufficiently fairly good. They have already maintained a good relation among
government agencies as well as among private companies at home and abroad. So far, we did not hear that the company’s
being filed to the district court or involved in any fraudulent dealings. The
company’s litigation record is clean and it has not registered with the black
list of Bank of Indonesia. P.T. ALUMINDO LIGHT METAL INDUSTRY Tbk is sufficiently
fairly good for business transaction.
Attachment 1:
PT. ALUMINDO LIGHT METAL INDUSTRY Tbk
And It’s Subsidiaries
FINANCIAL STATEMENTS
Per 31 December 2008, 2009 and 2010
(In
million Rupiah)
|
DECCRIPTION |
31 December |
||
|
2010 |
2009 |
2008 |
|
|
A. ASSETS |
|
|
|
|
a.
Current Assets |
|
|
|
|
- Cash and Cash Equivalent |
152,769 |
107,621 |
27.002 |
|
- Temporary Investment |
- |
- |
143.191 |
|
- Trade Receivable |
|
|
|
|
* Related Parties |
22,307 |
12,398 |
41.948 |
|
* Third Parties |
136,908 |
131,594 |
52.108 |
|
-
Other Receivable |
1,064 |
2,467 |
2.216 |
|
- Inventories |
437,350 |
537,957 |
535.665 |
|
- Prepaid Tax |
8,224 |
45,188 |
206 |
|
- Purchase Advances |
71,570 |
78,555 |
48.499 |
|
- Prepaid Expenses |
2,234 |
2,956 |
1.744 |
|
Total Current Assets |
842,428 |
918,737 |
852.572 |
|
b.
Non Current Assets |
|
|
|
|
- Due to Related Parties |
74,775 |
30,298 |
223.686 |
|
- Fixed Assets |
519,643 |
497,951 |
450.214 |
|
- Goodwill |
- |
- |
- |
|
- Advance for the Purchase of Fixed Assets |
3,024 |
2,931 |
2.095 |
|
- Taxes Receivable |
63,605 |
21,442 |
108.100 |
|
- Deferred Loss on Sale and Leaseback Assets |
- |
10,236 |
- |
|
- Deferred Expense |
- |
- |
- |
|
- Deferred Tax Assets |
- |
- |
- |
|
- Other Assets |
- |
- |
- |
|
Total Non Current Assets |
661,726 |
562,874 |
784.096 |
|
TOTAL ASSETS
= LIABILITIES
STOCKHOLDERS’ EQUITY |
1,504,154 |
1,481,611 |
1.636.668 |
|
B. LIABILITIES & STOCKHOLDERS’ EQUITY |
|
|
|
|
a.
Current Liabilities |
|
|
|
|
- Trade Payable |
|
|
|
|
* Related Parties |
11,942 |
63,637 |
195.825 |
|
* Third Parties |
269,731 |
464,338 |
119.509 |
|
- Other Payable |
164 |
133 |
937 |
|
- Taxes Payable |
657 |
258 |
660 |
|
- Dividends Payable |
499 |
499 |
499 |
|
- Accrued Expenses |
7,359 |
6,577 |
3.239 |
|
- Short Term Loans |
683,642 |
392,027 |
809.745 |
|
- Current Maturities of Long
Term Bank Loans |
- |
20,000 |
20.000 |
|
- Other Liabilities |
- |
- |
- |
|
Total Current Liabilities |
974,085 |
947,470 |
1.150.413 |
|
b.
Non Current Liabilities |
|
|
|
|
- Advance Return Equity of Subsidiary |
- |
- |
5.323 |
|
- Accounts Payable to Related Parties |
- |
55,784 |
- |
|
- Long Term Bank Loans |
148 |
- |
20.000 |
|
- Employee Benefit Obligation |
18,099 |
16,292 |
14.136 |
|
- Deferred Tax Liabilities |
6,024 |
- |
10.959 |
|
Total Non Current
Liabilities |
24,271 |
72,076 |
50.418 |
|
c.
Minority Interest |
- |
- |
- |
|
d.
Stockholders Equity |
|
|
|
|
- Paid Up Capital |
154,000 |
154,000 |
154.000 |
|
- Additional Paid-up Capital |
66,439 |
66,439 |
66.439 |
|
- Unrealized Gain (Loss) on
Decrease in Value of Securities |
7 |
(2) |
(9) |
|
- Retained Earnings |
285,351 |
241,629 |
215.408 |
|
Total Stockholders Equity |
505,798 |
462,065 |
435.837 |
|
C. INCOME STATEMENTS |
|
|
|
|
a.
Sales – Net |
3,019,070 |
1,754,202 |
3.376.798 |
|
b.
Cost of Goods Sold |
(2,834,455) |
(1,679,3690 |
(2.175.714) |
|
c.
Gross Profit |
184,615 |
74,833 |
201.084 |
|
d.
Operating Expenses |
(84,586) |
(68,155) |
(85.992) |
|
e.
Operating Profit |
100,029 |
6,678 |
115.091 |
|
f.
Other Income (Expenses) |
(40,046) |
(1,652) |
(109.726) |
|
g.
Operating Profit Before Income Tax |
59,983 |
5,026 |
5.365 |
|
h.
Income Tax |
(16,260) |
21,195 |
(798) |
|
i.
Net Profit (Loss) – Discontinuing Operation |
- |
- |
- |
|
j.
Profit Before Minority Interest |
- |
- |
4.567 |
|
k.
Minority Interest |
- |
- |
- |
|
l. Net Profit |
43,722 |
26,221 |
4.567 |
Notes: *)
Audited by Paul Hadiwinata, Hidayat, Arsono & Rekan
Attachment 2:
List
of the MASPION Group Members
1.
2.
ALIM
BROTHERS INDUSTRIES Pte., Ltd.
3.
ALIM
INVESTAMA, P.T. (Investment Holding)
4.
ALTAP
PRIMA, P.T. (Aluminum Roofing (Sheet Manufacturing)
5.
ALTAP
PRIMA INDUSTRIAL ESTATE, P.T. (Industrial Estate Management)
6.
ALUMINDO
INDUSTRIAL ESTATE, P.T. (Industrial Estate Management)
7.
ALUMINDO
LIGHT METAL INDUSTRY Tbk, P.T. (Aluminum Foil, Sheets and Material
Manufacturing)
8.
ANEKA
KABEL CIPTA GUNA, P.T. (Electric Cable Manufacturing)
9.
ANUGERAH
INVESTINDO, P.T. (Investment Holding)
10.
BINTANG
OSOWILANGUN, P.T. (Property Development and Management)
11.
CITRA
MASPION CONTRACTOR, P.T. (General Contracting)
12.
DHARMA
CIPTA KARAYA, P.T. (PVC Leather, and Floor Tile Manufacturing)
13.
DHARMALA-RSEA
INDUSTRIAL ESTATE, P.T. (Industrial Estate Management)
14.
DHARMA
SEJAHTERA SAKTI, P.T. (Trading and Investment Holding)
15.
DRAKINDO
INVESTAMA, P.T. (Investment Holding)
16.
DUPONT
AGRICULTURAL PRODUCTS
17.
ERP
MULTISOLUSI
18.
FUNGLAM
Trading Company, Hong Kong (Trading)
19.
FURUKAWA
INDAL ALUMINIUM, P.T. (Automotive and Condenser AC Manufacturing)
20.
GUNA
INVESTINDO, P.T. (Investment Holding)
21.
HEISEI
STAINLESS STEEL INDUSTRY, P.T. (Manufacturer of Stainless Steel
Pipe and Tubing)
22.
HUSIN
INVESTAMA, P.T. (Investment Holding)
23.
INCOM
INDUSTRY, P.T. (Aluminum Extraction and Fabricating)
24.
INDAL
ALUMINIUM, P.T. (Aluminum Sheet and Steel Extrusion Industry)
25.
INDAL
INDUSTRIAL ESTATE, P.T. (Industrial Estate Management)
26.
INDAL
COMPACT ALUMINIUM INDUSTRIES, P.T. (Aluminum, Extrusion and Fabrication)
27.
INDAL
DRYVIT, P.T. (Dryvit Manufacturing)
28.
INDALEX,
P.T. (General Contracting and Dryvit Distribution)
29.
INDAL
STEEL PIPE, P.T. (Steel Pipe Industry)
30.
INDOFIBRE
MATTRESS, P.T. (Fibre Mattress Manufacturing)
31.
INDOGLASS
INDUSTRI, P.T. (Sheet Glass Manufacturing)
32.
33.
ISHIZUKA
MASPION, P.T (Glass Tableware Manufacturing) Inactive
34.
K.K.
MASPION, Japan (Trading)
35.
LOGAM
JAWA, (General Trading & Steel Tableware Manufacturing)
36.
MARINDO
INVESTAMA, P.T. (Investment Holding)
37.
MASPION
Tbk., P.T. (Manufacturing of Plasticwares, Stainless Steel Tablewares and
Kitchen Utensils, Aluminum Utensils, Electric Fans, Pressure Lamps, Ornamental
Lamps, etc.)
38.
MASPION
CANADA INC.,
39.
MASPION
FINANSIAL, P.T. (Financing Services)
40.
MASPION
FLATWARE, P.T. (Flatware Manufacturing) Inactive
41.
MASPION
INDONESIA, P.T. Bank (Banking)
42.
MASPION
INDUSTRIAL ESTATE, P.T. (Industrial Estate Management)
43.
MASPION
INSURANCE, P.T. (Insurance Services)
44.
MASPION
INVESTINDO, P.T. (Investment Holding)
45.
MASPION
KENCANA, P.T. (PVC Pipe, Steel Pipes and Other Foam Products Manufacturing)
46.
MASPION
POLYSTYRENE, P.T. (Expandable Polystyrene Manufacturing)
47.
MASPION
RAYA, P.T. (Sheet Glass and PVC Resin Industry)
48.
MASPION
SECURITIES, P.T. (Securities Services)
49.
MASPION
STAINLESS STEEL
50.
MASPION
TRADING, P.T. (Investment Holding and Trading)
51.
MULINDO
INVESTAMA, P.T. (Investment Holding)
52.
NAOMOTO
53.
PRAKINDO
INVESTAMA, P.T. (Investment Holding)
54.
PRAICINDO
INVESTAMA, P.T. (Investment Holding)
55.
ROYAL
CHEMICAL, P.T. (Polystyrene Industry)
56.
SAMSUNG
MASPION
57.
SATRIA
INVESTAMA, P.T. (Investment Holding)
58.
SEA
HORSE MASPION
59.
SHANGHAI
MASPION OLEO CHEMICAL INDUSTRY, P.T. (Industrial and Household Soap
Manufacturing)
60.
SHANGHAI
MASPION PRINTING INK INDUSTRY, P.T. (Printing Ink and Pigment Manufacturing)
61.
SHANGHAI
MASPION TOOTHPASTE INDUSTRY, P.T. (Toothpaste Manufacturing
62.
63.
64.
SINAR
MASPION, P.T. (Retailing)
65.
SRITHAI
MASPION
66.
TFC
MASPION
67.
TRISULA
PACK INDAH, P.T. (Corrugated Cardboard Box Manufacturing)
68.
WELLBURGER
COATINGS, P.T. (Paint and Coating Manufacturing)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.