MIRA INFORM REPORT
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Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. ANTARMITRA SEMBADA |
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Registered Office : |
Jalan Pos Pengumben Raya No. 8, Sukabumi Selatan, Jakarta
Barat, 11560 |
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Country : |
Indonesia |
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Date of Incorporation : |
15.09.1990 |
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Com. Reg. No.: |
No.
AHU-43730.AH.01.02.TH.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, marketer and Distribution of Pharmaceutical, Healthcare and Consumer Products |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 4,800,000 |
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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
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Indonesia |
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. ANTARMITRA SEMBADA
company Address
Head Office
Jalan Pos Pengumben Raya No. 8
Sukabumi Selatan
Jakarta Barat, 11560
Indonesia
Phones - (62-21) 5310330 (Hunting)
Fax -
(62-21) 5310445
E-mail - info@ams.co.id
Website - http://www.ams.co.id
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
15 September 1990
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry
of Law and Human Rights
- No.
C2-2175.HT.01.01.TH.92
Dated 7 March 1992
- No.
AHU-43730.AH.01.02.TH.2009
Dated 4 September
2009
Company Status
Private National Company
Permit by the Government
Department
The Department
of Finance
NPWP No. 01.345.766.8-062.000
The Department
of Industry and Trade
TDP No. 09.02.1.51.35822
Dated 29 January 2009
Related Companies
a. P.T. ADMORE MAKMUR
SEJAHTERA (Investment Holding)
b. P.T. BURROUGH
WELLCOME INDONESIA (Pharmaceutical Manufacturing)
c. P.T. CENTURY
PRANCHISSINDO UTOMO (Distribution of Pharmaceutical & Medical
Equipment)
d. CONSOLIDATED ASIA
PTE, LTD., Singapore (Distribution of Soil Stabilization)
e. P.T. IMPAC INDO
MITRASEMBADA (Creative Management Engineering)
f. P.T. LAHAN ASPRINDO
LESTARI (Sole Agent of Cosmetic Products)
g. P.T. NOVEL
PHARMACEUTICAL LABORATORIES (Pharmaceutical Manufacturing)
h. P.T. PHAROS
INDONESIA (Pharmaceutical Manufacturing)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 20,000,000,000.-
Issued Capital :
Rp. 10,000,000,000.-
Paid up Capital :
Rp. 10,000,000,000.-
Shareholders/Owners :
a. P.T. ADMORE
MAKMUR SEJAHTERA -
Rp. 9,920,000,000.-
Address : Jl. Limo No. 42
Grogol Selatan, Jakarta
Selatan
Indonesia
b. Mr. Drs.
Eddie Lembong -
Rp. 80,000,000.-
Address : Jl. Limo No. 42
Grogol Selatan, Jakarta
Selatan
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading, marketer and Distribution of Pharmaceutical,
Healthcare and Consumer Products
Production Capacity :
None
Total Investment :
None
Started Operation :
1990
Brand Name :
Antarmitra Sembada
Technical Assistance :
None
Number of Employee :
442 persons
Marketing Area :
Local - 100%
Main Customers :
a. Hospitals, Institution and Health Clinics
b. Pharmaceutical Industries
c. Livestocks farms and pet shops
d. Whole-seller and semi whole-seller
f. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ANUGERAH PHARMINDO LESTARI
b. P.T. BINA SAN PRIMA
c. P.T. LABORA MEDI UTAMA
d. P.T. MERAPI UTAMA PHARMA
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank CENTRAL
ASIA Tbk
Jalan Asemka No.
27-30
Jakarta Barat
Indonesia
b. P.T. Bank NEGARA
INDONESIA Tbk
Jalan Gatot
Subroto No. 95
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 335.0 billion
2009 – Rp. 350.0 billion
2010 – Rp. 365.0 billion
Net Profit (estimated) :
2008 – Rp. 23.4 billion
2009 – Rp. 24.5 billion
2010 – Rp. 25.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Roy Rachmat Lembong, BA
Marketing Manager - Ms. Annita
Rusdiantari
Board of Commissioners :
President Commissioner - Mrs. Melly Saliman
Commissioners - a. Mr. Drs.
Eddie Lembong
b. Mrs. Julie
Signatories :
Director (Mr. Roy Rachmat Lembong, BA) which must be
approved by Board of Commissioner
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$ 4,800,000 on 90 days D/A
OVERALL PERFORMANCE
Originally the Subject
Company address located at Jalan Limo No. 44, Grogol Selatan, Kebayoran Lama,
Jakarta Selatan. However since the early 2008 the Subject Company address has
been moved into Jalan Pos Pengumben Raya No. 8, Sukabumi Selatan, Jakarta
Selatan.
P.T. ANTARMITRA
SEMBADA (P.T. AMS) was established in Jakarta in September 1990 with the
authorized capital of Rp. 100,000,000 issued capital of Rp. 60,000,000 wholly
paid up. Founders and original shareholders are Mrs. Melly Saliman and Mrs.
Dra. Ina Sumali, Indonesia of Chinese extraction. It’s articles of association
has frequently been changed for a couple of times. Its articles of association
was made by Mr. Mudofir Hadi, SH notary public under number 140 dated 15
September 1990. In June 1996, the authorized capital was increased to Rp.
5,000,000,000 issued capital to Rp. 1,250,000,000 wholly paid up. On the same
occasion, the shareholders are Mrs. Drs. Ina Sumali and P.T. ADMORE MAKMUR
SEJAHTERA as new shareholders.
Later in December
2007 the authorized capital was raised to Rp. 20,000,000,000 issued capital to
Rp. 10,000,000,000 entirely paid up. Concurrently Mrs. Drs. Ina Sumali pulled
out and replaced by Mr. Drs. Eddie Lembong as new shareholder. With this
development the composition of its shareholders has been changed to become P.T.
ADMORE MAKMUR SEJAHTERA (99.2%) and Mr. Drs. Eddie Lembong (0.8%). The latest
in August 2009 the board o director and the board of commissioner reappointed
to runs of the company operation. The latest revision of notary documents was
made by Mrs. Merryana Suryana, SH., a public notary in Jakarta and was approved
by the Ministry of Law and Human Rights in its decision letter No.
AHU-43730.AH.01.02.TH.2009 dated September 4, 2009.
We observe that P.T. ADMORE MAKMUR SEJAHTERA is a private national company whose majority business stakes are controlled by Mr. Drs. Eddie Lembong and his son Mr. Roy Rachmat Lembong. He is also business stakes owners of P.T. BURROUGH WELLCOME INDONESIA in Pharmaceutical Manufacturing, P.T. CENTURY PRANCHISSINDO UTOMO in Distribution of Pharmaceutical & Medical Equipment, CONSOLIDATED ASIA PTE, LTD., Singapore in Distribution of Soil Stabilization, P.T. IMPAC INDO MITRASEMBADA in Creative Management Engineering, P.T. LAHAN ASPRINDO LESTARI in Sole Agent of Cosmetic Products, P.T. NOVEL PHARMACEUTICAL LABORATORIES in Pharmaceutical Manufacturing and P.T. PHAROS INDONESIA in Pharmaceutical Manufacturing.
P.T. AMS has been
in operation as from 1990 in trading, supplying and distribution of
pharmaceutical products. P.T. AMS was established on September 15, 1990;
as a distributor for P.T. Pharos Indonesia Belongs to a group of Pharos /
Novell / Etercon / Century/Apotik Plus. In the year 2000, P.T. AMS established
two marketing teams, i.e. Healthcare Marketing team & OTC Marketing team.
As it expanded, P.T. AMS is not only dealing with pharmaceutical products, but
also Healthcare and medical supplies. P.T.
AMS was appointed as sole agent and distributor of pharmaceutical products of
its sister company P.T. PHAROS INDONESIA, P.T. NOVEL PHARMACEUTICAL
LABORATORIES, P.T. PYRIDAM FARMA Tbk, P.T. SURYA DERMATO MEDICA LABORATORIES,
P.T. ERRITA PHARMA, P.T. GALENIUM PHARMASIA LABORATORIES and P.T. ETERCON
PHARMA.
Besides, P.T. AMS
is also distributing medical equipments being imported from several countries
like India, several European countries and others. The whole products are sold directly to several pharmacies, hospitals,
institution and clinics, livestocks farms, pet shops, wholesaler, semi
wholesaler, modern retail, pharmaceutical retail, regular retail, traditional
retail and others. To support the smooth operation of its
logistics, the company has two warehouses, in Jakarta (to cover western
Indonesia region) and Surabaya (to cover eastern Indonesia region). Starting
with only one branch office, since December 2008, the company has 26 branches
across in Indonesia. We observe that P.T. AMS
is classified as a large sized company of its kind in the country of which the
operation has been growing in the last three years.
Generally, demand for laboratory and medical equipment and various pharmaceutical products had been growing in the last five years up to the end 2007 as pictured in sales value of national pharmaceutical products, import value and export value issued by the Food and Drug Controlling Board (BPOM). The national pharmaceutical sales, export and import value of products are estimated to be rising by 6% to 8% in the next year. The competition is very tight on account many similar companies operating in the country. The business position of P.T. AMS is a sufficiently fairly good because the company has captive market namely the state-owned hospital and private hospital in the country. According the BPOM that national pharmaceutical sales as shown are as the following table.
National Market Trend of Drugs, 2001-2008* (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2001 2002 2003 2004 2005 2006 2007 2008 2009* 2010* |
12.850 15.483 17.458 20.872 23.629 23.173 25.600 28.000 30.000 34.000 |
7.891 9.618 10.829 12.706 14.675 13.834 13.959 14.215 14.530 15.127 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 3,213 3.420 3.610 |
Source: Food and Drug Controlling
Board (BPOM)
*) Estimated
Until this time P.T. AMS has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of P.T. AMS 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. 335.0 billion
rose to Rp. 350.0 billion in 2009 increased to Rp. 365.0 billion in 2010 and
projected to go on rising by at least 6% in 2011. The operation in 2010 yielded
an estimated net profit of at least Rp. 25.5 billion and the company has an
estimated total networth of at least Rp. 50.0 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.
P.T. AMS management is led by Mr. Roy Rachmat Lembong, BA (40) a professional manager with experienced for more than 15 years in trading and distribution of pharmaceutical, healthcare and consumer products. However the primemover of the company is his father Mr. Drs. Eddie Lembong AKA Ong Sioe Hong (75), a businessman with 38 years experience in pharmaceutical products manufacturing and distribution. In his day-to-day activities, he is assisted by experienced professional managers having wide relation with home and overseas private businessmen as well as with the government sector. 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 company’s litigation record is clean and it has not registered with the black list of Bank of Indonesia. P.T. ANTARMITRA SEMBADA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
UK Pound |
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
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 |
|
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 |
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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.