MIRA
INFORM REPORT
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Report Date : |
15.12.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. MAHASAKTI INDOTAMA |
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Registered Office : |
Menara Duta Building 7th Floor B Wing Jalan H.R. Rasuna Said Kav. B-9 Jakarta
Selatan, 12910 |
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Country : |
Indonesia |
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Date of Incorporation : |
23.09.2005 |
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Com. Reg. No.: |
No. AHU-23135.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Mine Management Services |
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No. of Employees : |
5 persons |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 36,800 |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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.
MAHASAKTI INDOTAMA
Address
Head Office
Menara Duta
Building 7th Floor B Wing
Jalan H.R. Rasuna Said Kav. B-9
Jakarta Selatan, 12910
Indonesia
Phones -
(62-21) 5290 1940 (Hunting)
Fax -
(62-21) 5290 1944, 5290 1965
E-mail - sundersr@gmail.com
Building Area - 12 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Registratio0n data
Date of Incorporation :
23 September 2005
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C-20407 HT.01.01.TH.2006
Dated 12 July 2006
- No. AHU-23135.AH.01.02.TH.2008
Dated 6 May 2008
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.183.655.6-018.000
The Department of Industry and Trade
TDP No.
09.03.1.52.54914
Dated 11 February
2006
Related
Company :
A Member Company
of the TRISAKTI Group (see attachment)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp. 80,000,000.-
Issued Capital : Rp.
20,000,000.-
Paid up Capital : Rp.
20,000,000.-
Shareholders/Owners
:
a. Mr. Sunderajen, SH -
Rp. 18,000,000.-
Address :
Vila Citra Block F-4 No. 1, RT. 005
RW. 004, Kel.
Tegal Gundil, Kec. Bogor
Utara, Bogor, West Java
Indonesia
b. Mr. Yahya Udin -
Rp. 2,000,000.-
Address : Kelapa Gading Timur
RT. 004 RW. 004
Kel. Kelapa
Gading, Kec. Kelapa Gading
Jakarta Utara
Indonesia
BUSINESS ACTIVITIES
Lines of
Business :
Mine Management
Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2006
Brand Name :
Mahasakti
Indotama
Technical
Assistance :
None
Number of
Employee :
5 persons
Marketing Area
:
Local - 100%
Main Customer
:
General Mining
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ADANI
GLOBAL
b. P.T. BANGUN
KARYA PRATAMA LESTARI
c. P.T. DIAN
MATRA KARYA
d. P.T.
YUDHISTIRA HANA PERKASA
e. Etc.
Business Trend
:
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r :
a. P.T. Bank
MANDIRI Tbk
Gedung
Menara Duta
Jalan H.R.
Rasuna Said Kav. B-9
Jakarta Selatan
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Menara Imperium Lower Ground Block A Unit
16
Jalan H.R. Rasuna Said Kav. 1
Jakarta
Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2008 Rp. 2.0
billion
2009 Rp. 2.4
billion
2010 Rp. 2.8
billion
2011 Rp. 1.5
billion (January June)
Net Profit
(estimated) :
2008 Rp. 160
million
2009 Rp. 192
million
2010 Rp. 224
million
2011 Rp. 120
million (January June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Sunderajen, SH
Board of Commissioners :
Commissioner -
Mr. Yahya Udin
Signatories :
Director (Mr. Sunderajen,
SH) 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$ 36,800 on 90
days D/A
OVERALL PERFORMANCE
P.T. MAHASAKTI
INDOTAMA (P.T. MSI) was established in Jakarta based on notary deed of Mrs. Dewantari
Handayani, SH., No. 2 dated 23 September 2005 with an authorized capital of Rp.
80,000,000 issued capital of Rp. 20,000,000 entirely paid up. The founding
shareholders of the company are Mr. Sunderajen, SH., an Indonesian businessman
of Indian descent and Mr. Yahya Udin an indigenous businessman. The company
notary deed was approved by the Ministry of Law and Human Rights in its
decision letter No. C-200407 HT.01.01.TH.2006 dated July 12, 2006. The company
notary deed had been changed and based on notary deed of Mrs. Dewantari
Handayani, SH., No. 04 dated 2 April 2008 the board of director and the board
of commissioner reappointed to lead and runs of the companys operation (see
profile of this report). The latest revision of notary documents was approved
by the Ministry of Law and Human Rights in its decision letter No.
AHU-23135.AH.01.02.TH.2008 dated May 6, 2008.
P.T. MSI started
to be operating since 2006 engaged in the field of mine management services. In
its operation the company is also sells and supplied of heavy equipment and
other mining equipment to parent company P.T. FAIRGOLD INTERNATIONAL INDONESIA,
P.T. TRISAKTI MINERALS & ESOURCES and other coal mining contracting in
Satui, Sungai Danau, South Kalimantan. According to notary documents the
company also engaged in general trading, wholesales, supplier, agency;
importer, and other services. In its operation the Company is engaged in
financial and corporate consultancy, company formation, event management. We
are consultants to 6 Indian companies who have invested in Indonesia in mining.
According information from the management P.T. MSI also provides management
trust for its sister and parent company under the wing of TRISAKTI Group. We
observe that P.T. MSI is classified a small sized company of its kinds which
operation has been growing slowly in the last three years.
We find that the
demand for coal mining contracting services, heavy/mining equipment rental,
repair and maintenance services and mining contracting services was rising by
about 7% to 8% on the average per year in the five years, in close correlation
with the fast development of mining companies in the country. The international
market demand for coal has kept on rising within the last five years as evident
from the data put-out by the Central Bureau of Statistic (BPS) regarding
Indonesian coal product export as bellows. The national coal industries in
Indonesia have swiftly been growing. According to the Central Bureau of
Statistics (BPS), the national coal export in 2005 amounted US$ 4,354.0 million
rocketed to US$ 6,085.7 million in 2006 to US$ 6,681.5 million in 2007 and rose
again to US$ 10,485.1 million in 2008 rocketed to US$ 13,817.3 million in 2009
to US$ 18,499.3 million in 2010 and projected to go on rising by at least 6% in
2011.
Whereas, the
national coal production in 2005 reached 152.7 million tons rocketed to 193.8
million tons in 2006 to 216.9 million tons in 2007 to 240.2 million tons in
2008 increased to 256.2 million tons in 2009 and rose again to 275.2 million
tons in 2010. The growth of coal production and export in Indonesia in 2005 to
2010 is pictured on the following table:
|
Year |
Production (thousand tons) |
Export (thousand tons) |
Value (US$ million) |
|
2005 |
152,722 |
110,790 |
4,354.0 |
|
2006 |
193,761 |
143,633 |
6,085.7 |
|
2007 |
216,946 |
163,000 |
6,681.5 |
|
2008 |
240,249 |
191,430 |
10,485.1 |
|
2009 |
256,181 |
198,366 |
13,817.3 |
|
2010 |
275,164 |
208,000 |
18,499.3 |
Source: Directorate General Coal and
Mineral, Statistic of Central Board and processed by ICB
Until this time
P.T. MSI has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T.
MSI is very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total revenue of the company in 2008 amounted at
Rp. 2.0 billion increased to Rp. 2.4 billion in 2009 to Rp. 2.8 billion in
2010. As from January to June 2011 the sales revenue amounted at Rp. 1.5
billion with a net profit of at least Rp. 120 million and projected to go on
rising by at least 6% in 2012. The company has an estimated total net worth of
at least Rp. 0.5 billion. So far, we did not heard that the company having been
black listed by the Central Bank (Bank Indonesia). The company usually pays its
debts punctually to suppliers.
The management
of P.T. MSI is led by Mr. Sunderajen, SH (43) a professional manager with
experience in coal mining contracting and export import of coal. The company's
management is handled by professional staff in the above business. They have
wide relations with private businessmen within and outside the country. So far,
we did not hear that the management of the company being filed to the district
court for detrimental cases or involved in any business malpractices. The
companys litigation record is clean and it has not registered with the black
list of Bank of Indonesia. P.T. MAHASAKTI INDOTAMA is sufficiently fairly good
for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.58 |
|
|
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.69.89 |
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 SCs 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.