MIRA INFORM REPORT
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Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. INJA PERKASA TAMA |
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Registered Office : |
Jl. Cipto No. 182 Kawasan Berikat Semarang Ungaran 50519 |
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Country : |
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Date of Incorporation : |
27.11.1979 |
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Com. Reg. No.: |
No. AHU-58481.AH.01.02.Tahun 2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Garment Manufacturing |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 3.0 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name
of Company
P.T.
INJA PERKASA TAMA
Address
Head
Office
Previous
address
Jl.
Cipto No. 182
Kawasan
Berikat
Ungaran
50519
Head
Office
Jl.
Jend. Sudirman Kav. 52-53
Phone -
(62-21) 5151028, 5151036
Fax - (62-21) 5151037
Building Area - 34 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Rent
Factory
Jalan
Karimun Jawa
Desa
Gedanganak
Ungaran,
Phone -
(62-24) 692 1228 (hunting)
Fax - (62-24) 692 1327
Land Area - 15,800 sq.
meters
Building Space - 8,200 sq. meters
Region - Industrial
Zone
Status - Owned
Registration
data
Date of Incorporation :
27
November 1979
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
a. No.
C-11028.HT.01.04.TH.2005
Dated 23 April 2005
b. No.
AHU-58481.AH.01.02.Tahun 2008
Dated 03 September 2008
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 01.139.690.0.504.000
The Department of Industry
No.
505/DJAI/IUR-III/Non PMA-PMDN/XII/88
Dated
22 December 1988
The Directorate General of Overseas
Trade
No.
022/Daglu-22/Kp/Ept/I/1986
Dated
14 January 1986
Related
Company :
Not
available
CAPITAL
AND OWNERSHIP
Capital
Structure :
Authorized Capital - Rp. 30,000,000,000.-
Issued Capital - Rp. 7,500,000,000.-
Paid up Capital - Rp. 7,500,000,000.-
Shareholders/Owners
:
a. Mr.
Address : Jl. Dr. Cipto No. 182
b. Mrs. Luciana - Rp. 1,500,000,000.- (20%)
Address : Jl. Dr. Cipto No. 182
c. Mr. Wiwik Purnomo - Rp. 1,500,000,000.- (20%)
Address : Jl. Dr. Cipto No. 182
d. Mrs. Dewi Susanti - Rp. 1,500,000,000.-
(20%)
Address : Jl. Tampak Siring Raya No. 25
e. Mr. Nico Purnomo - Rp. 1,500,000,000.-
(20%)
Address : Jl. Dr. Cipto No. 182
BUSINESS
ACTIVITIES
Lines
of Business :
Garment
Manufacturing
Production
Capacity :
Garment
(Lady’s Blouse and Men Shirt) – 650,000 dozens p.a.
Total
Investment :
Owned
Capital - Rp. 30.0 billion
Started
Operation :
1981
Brand
Name :
GOLDEN
FLOWER
Technical
Assistance :
None
Number
of Employee :
2,650
persons
Marketing
Area :
Export - 95%
Local -
5%
Main
Customers :
Overseas
buyer in
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. BUSANA REMAJA AGRACIPTA
b.
P.T. BINTANG ADI BUSANA
c.
P.T. MASTERINDO JAYA ABADI
d.
P.T. METRO GARMENT
e.
P.T. UNGARAN SARI GARMENT
f. P.T. LEADING GARMENT INDUSTRIES
Business
Trend :
Growing
BANKER,
AUDITOR & LITIGATION
B
a n k e r s :
a. P.T. Bank
Jl. Pemuda No. 90-92
b. P.T. Bank CIMB NIAGA Tbk
Jl. Pemuda No. 21-B
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database and local courts
FINANCIAL
FIGURE
Annual
Sales (estimated) :
2007
– Rp. 128.0 billion
2008
– Rp. 155.0 billion
2009
– Rp. 188.0 billion
2010
– Rp. 220.0 billion
Net
Profit (estimated) :
2007
– Rp. 6.9 billion
2008
– Rp. 8.0 billion
2009
– Rp. 9.8 billion
2010
– Rp. 11.5 billion
Payment
Manner :
Almost
promptly
Financial
Comments :
Satisfactory
KEY
EXECUTIVES
Board of Management :
President Director - Mrs. Luciana
Director -
Mrs. Dewi Susanti
Board of Commissioners :
President Commissioner - Mr.
Commissioners - a. Mr. Wiwik Purnomo
b. Mr. Nico Purnomo
Signatories :
President
Director (Mrs. Luciana) or the Director (Mrs. Dewi Susanti) which must be
approved by Board of Commissioners (Mr. Po Soen Kok, Mr.Wiwik Purnomo and Mr.
NIco Purnomo)
CAPABILITIES
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below average
Credit Recommendation :
Credit can be proceeded normally
Proposed
Credit Limit :
Moderate
amount
Maximum Credit Limit :
US$
3.0 million on 90 days D/A
OVERALL
PERFORMANCE
P.T.
GOLDEN FLOWER (P.T. GF) was established in November 1979 in
P.T. GF has been operating since
1981 in garment industry with its plant located at Desa Gadang Anak, Karimun
Jawa, Ungaran,
Generally,
demand for textile and textile products, including polyester textured yarn, finished fabrics,
garment, textile chemicals and raw materials has been fluctuating in the last
five years. According to the Central
Bureau of Statistics (BPS) the Indonesian garments export in 2002 amounted to
333,100 tons (US$ 3,887.2 million) to 339,000 tons (US$ 4,037.9 million) in
2003 to 327.300 tons (US$ 4,351.9 million) in 2004 to 369.500 tons (US$ 4,967.0
million) in 2005 to 399,600 tons (US$ 5,608.1 million) in 2006, to 399,800 tons
(US$ 5,712.9 million) in 2007 to 417,600 tons (US$ 6,092.2 million) in 2008 and
declined to 393,400 tons (US$ 5,735.6 million) in 2009. The Indonesia textile products export in 2002
amounted to 1,425.9 tons (US$ 3,075.9 million) to 1,307.5 tons (US$ 3,064.6
million) in 2003 to 1,300.4 tons (US$ 3,354.6 million) in 2004 to 1,427.3 tons
(US$ 3,704.0 million) in 2005 to 1,477.800 tons (US$ 3,908.6 million) in 2006
to 1,473.6 tons (US$ 4,178.0 million) in 2007 declined to 1,312,200 tons (US$
4,127.9 million) in 2008 and rose again to 1,369,600 tons (US$ 3,602.8 million)
in 2009. The export volume and value of
the national TPT products in 2002 to 2009 are pictured on the following table.
|
Year |
Garment |
Textile Products |
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(Thousand Ton) |
(US$ Million) |
(Thousand Ton) |
(US$ Million) |
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2002 2003 2004 2005 2006 2007 2008 2009 |
333.1 339.9 327.3 369.5 399.6 399.8 417.6 393.4 |
3,887.2 4,037.9 4,351.9 4,967.0 5,608.1 5,712.9 6,092.2 5,735.6 |
1,425.9 1,307.5 1,300.4 1,427.3 1,477.8 1,473.6 1,312.2 1,369.6 |
3,075.9 3,064.6 3,354.6 3,704.0 3,908.6 4,178.0 4,127.9 3,602.8 |
Source: Central
Bureau of Statistic
The management
is very reclusive to outsider and rejected to disclose its financial condition.
It is estimated the total sales turnover of P.T. GF in 2008 amounted to Rp
155.0 billion increased to Rp 188.0 billion in 2009 rose again to Rp 220.0
billion in 2010 and projected it will be higher by 10% to 12% in 2011 because
the products are largely exported. The operation in 2006 yielded a profit of Rp 8.2 billion and
the company has an estimated total net worth at around Rp 100.0 billion. We observe that P.T. GF is supported by
financially strong behind it. So far, we did not hear that the company having
been black listed by the Central Bank (Bank
The management
of P.T. GF is led by Mrs. Luciana (57) as president director and she is
assisted by her daughter Mrs. Dewi Susanti (33) as director. But we believe that the prime-mover of the
company is Mr. Po Soen Kok (63), a businessman with experience for more than 30
years in garment industry and trade. In his daily activities, he is assisted by
his sons Mr. Wiwik Purnomo (35) and Mr. Nico Purnomo (30) respectively as
director. The company’s management is having wide relation with private
businessmen of home and overseas as well as with the government sectors. As far as business is concerned the
management has never involved in any business malpractices being settled at the
local court. P.T. GOLDEN FLOWER
appraised quite feasible for normal business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.48 |
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|
1 |
Rs.72.37 |
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Euro |
1 |
Rs.64.42 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.