MIRA
INFORM REPORT
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Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T.
INDOKIMIA MAKMUR |
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Registered Office : |
Komplek Kopo Permai II Block AA No. 3, Jalan Raya Kopo,
Sukamenak, Margahayu, |
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Country : |
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Year of Establishment : |
2004 |
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Com. Reg. No.: |
AHU-83618.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company. |
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Line of Business : |
Trading,
Import and Distribution of Dyestuff, Sizing Agent and Auxiliaries. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 363,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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. INDOKIMIA MAKMUR
company Address
Head Office
Komplek
Kopo Permai II Block AA No. 3
Jalan
Raya Kopo
Sukamenak,
Margahayu
Phones -
(62-22) 9251505, 5411480
Fax - (62-22) 5411480
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Warehouse
Jalan
Raya Cilampeni
Kopo,
Date of Incorporation
2004
Legal Form
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No
The
Ministry of Law and Human Rights
No.
AHU-83618.AH.01.02.TH.2008
Dated
10 November 2008
Company Status
Foreign
Investment (PMA) Company
Permit by the Government Department
The
Department of Finance
NPWP
No. 02.115.859.7-059.000
Related Company
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
4,717,200,000.-
Issued
Capital :
Rp. 4,717,200,000.-
Paid
up Capital :
Rp. 4,717,200,000.-
Shareholders/Owners
:
a.
Mr. Chia Cheng Yuan -
Rp. 2,122,740,000.-
Address : Jl. Komplek
Kopo Permai III Block AA No. 3
Sukamenak,
b.
Mr. Lee Chien Ping -
Rp. 2,122,740,000.-
Address :
Jl. Komplek Kopo Permai III Block AA No. 3
Sukamenak,
c.
Mr. Shao Ching Sheng -
Rp. 471,720,000.-
Address :
Jl. Cicokang Kav. F2 No. 60, RT. 001 RW. 005
Cigonewah,
BUSINESS ACTIVITIES
Lines
of Business :
Trading,
Import and Distribution of Dyestuff, Sizing Agent and Auxiliaries
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2005
Brand
Name :
Indokimia
Makmur
Technical
Assistance :
None
Number
of Employee :
37
persons
Marketing
Area :
Local - 100%
Main
Customer :
Textile
Industries
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. ARTA TRISNA LESTARI
b.
P.T. CHEMIFIN JAYA UTAMA
c.
P.T. MAGNA PERKASA
d.
P.T. STOCKINDO KURNIA LESTARI
e.
Etc.
Business
Trend :
Growing
BANKER, AUDITOR & LITIGATION
Banker
:
P.T.
Bank
Jalan
Africa
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
Annual
Sales (estimated) :
2008
– Rp. 17.3 billion
2009
– Rp. 18.5 billion
2010
– Rp. 20.0 billion
Net
Profit (estimated) :
2008
– Rp. 1.0 billion
2009
– Rp. 1.3 billion
2010
– Rp. 1.5 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Chia Cheng Yuan
Director -
Mr. Lee Chien Ping
Board of Commissioners :
Commissioner - Mr. Shao Ching Sheng
Signatories :
President
Director (Mr. Chia Cheng Yuan) or the Director (Mr. Lee Chien Ping) which must
be approved by Board of Commissioner
CAPABILITIES
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small
amount – periodical review
Maximum Credit Limit :
US$
363,000 on 90 days D/A
OVERALL PERFORMANCE
P.T. INDOKIMIA MAKMUR (P.T. IKM) was set-up in
P.T.
IKM started to be operating since 2005 to deal with trading, import, supply and
distribution of textile chemical. The company is an authorized distributor and
sells of textile chemical among others are dyestuff, sizing agent, auxiliaries,
conning oils, softeners and others. The whole merchandise goods are imported
from
The whole textile chemical supplied to almost textile
industries which operates in
The domestic textile producers are pessimism the textile
export in 2009 could match the export numbers in 2008. The blow of the global
economic crisis is resulted in the reduced of demand from the export
destination countries like the United States (U.S.),
|
Year |
Garment |
Textile Products |
||
|
(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
Until this time P.T. IKM has not been registered with
Indonesian Stock Exchange, so that they shall not obliged to announce their
financial statement. The management of P.T. IKM is
very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total sales turnover of the company in 2008
amounted to Rp. 17.3 billion rose to Rp. 18.5 billion in 2009 increased to Rp.
20.0 billion in 2010 and projected to go on rising by at least 4% in 2011. The
operation in 2010 yielded an estimated net profit of at least Rp. 1.5 billion
and the company has an estimated total networth of at least Rp. 5.0 billion. We
observe that P.T. IKM is supported by foreign partner with has financially
strong and sound behind it. So far, we did not heard that the company having
been black listed by the Central Bank (Bank
The management of P.T. IKM is led by Mr. Chia Cheng Yuan
or known as Chandra Hermawan (58) a businessman and professional manager of
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.53 |
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 |
|
-- |
NB |
New Business |
-- |
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.