MIRA INFORM REPORT
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Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
P.T. DIAN KIMIA PUTERA |
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|
|
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Registered Office : |
Jalan Caringin No.
256, Babakan Ciparay, Bandung 40222, West Java |
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Country : |
Indonesia |
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Date of Incorporation : |
30.04.1985 |
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Com. Reg. No.: |
No. AHU-42136.AH.01.02.TH.2009 |
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|
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Legal Form : |
Limited
Liability Company |
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|
|
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Line of Business : |
Trading and
Distribution of Textile Chemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
US$ 302,600 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Indonesia |
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. DIAN KIMIA PUTERA
Company Address
Head Office
Jalan Caringin
No. 256
Babakan Ciparay
Bandung 40222
West Java
Indonesia
Phones -
(62-22) 6078528, 6030651, 6035337, 6078438
Fax - (62-22) 6030516
E-mail - dpk@bdg.centrin.net.id
Land Area - 1,000 sq.
meters
Building Space - 400 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation
30 April 1985
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry
of Law and Human Rights
- No. C2-1077.HT.01.01.TH.86
Dated 13 February 1986
- No. AHU-42136.AH.01.02.TH.2009
Dated 28 August 2009
Company Status
Private National
Company
Permit
by the Government Department
The Department
of Finance
NPWP No.
01.240.815.9-441.000
Related Companies
a. P.T. ARFIA MEGAH (Trading and Distribution of
Textile Auxiliaries)
b. P.T. ARSINDO EKA PRATAMA (Trading and
Distribution of Industrial Chemicals)
c. P.T. PRODIAN CHEMICALS INDONESIA (Textile
Chemical Industry)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
500,000,000.-
Issued Capital : Rp.
125,000,000.-
Paid up Capital : Rp.
125,000,000.-
Shareholders/Owners
:
a. Mr. Faizal
Indra -
Rp. 54,500,000.-
Address : Jl. Kiputih No. 23
Bandung, West
Java
Indonesia
b. Mr. Ferdian
Indra -
Rp. 23,500,000.-
Address : Jl. Kiputih No. 23
Bandung, West
Java
Indonesia
c. Mr. Susanty
Kurnia -
Rp. 23,500,000.-
Address : Jl. Kiputih No. 23
Bandung, West
Java
Indonesia
d. Mr. Adrian
Indra -
Rp. 23,500,000.-
Address : Jl. Kiputih No. 23
Bandung, West
Java
Indonesia
BUSINESS ACTIVITIES
Lines of
Business :
Trading and
Distribution of Textile Chemicals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1986
Brand Name :
Dian Kimia Putra
Technical
Assistance :
None
Number of
Employee :
18 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. INDOKIMIA
MAKMUR
d. P.T. LENTERA
MUTIARA CHEMICALS
e. Etc.
Business Trend
:
Growing
BANKER, AUDITOR & LITIGATION
Banker s :
a. Hongkong and Shanghai Banking Corp. Ltd.
Jalan Asia AfriKa 141-147
Bandung, West Java
Indonesia
b. P.T. Bank PERMATA Tbk
Jalan Merdeka No. 66
Bandung, West Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2008 – Rp. 21.0
billion
2009 – Rp. 22.0
billion
2010 – Rp. 23.0
billion
Net Profit
(estimated) :
2008 – Rp. 1.2
billion
2009 – Rp. 1.3
billion
2010 – Rp. 1.4
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Ferdian Indra
Director -
Mr. Faizal Indra
Board of Commissioners :
President Commissioner -
Mrs. Susanty Kurnia
Commissioner -
Mr. Adrian Indra
Signatories :
President Director (Mr.
Ferdian Indra) or the Director (Mr. Faizal Indra) 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$ 302,600 on 90
days D/A
OVERALL PERFORMANCE
Initially named C.V. DIAN KIMIA, the company was established in 1984 with a legal status of C.V. (Commanditaire Vennootschap). In 1985 the status was converted into P.T. (Perseroan Terbatas) or Limited Liability Company and renamed P.T. DIAN KIMIA PUTERA (P.T. DKP), with an authorized capital of Rp. 40,000,000 entirely was issued and paid up. The founding shareholders are Mr. Richard Jos Satahusada, Mr. Faizal Indra and his wife Mrs. Susanty Kurnia, they are Chinese origins Indonesian entrepreneurs. In August 1988 a new shareholder joined in Mr. Aang Hadimulya Setiamihardja, also a Chinese origin Indonesian businessman. By the same time its authorized capital was raised to Rp. 500,000,000 issued and paid up capital to Rp. 100,000,000. In June 1999, Mr. Richard Jos Satahusada and Mr. Aang Hadimulya Setiamihardja pulled out and the whole share had been taken over by Mr. Faizal Indra and his wife Mrs. Susanty Kurnia.
The latest in March 2009 the authorized capital was raised to Rp. 500,000,000 issued capital to Rp. 125,000,000 fully and paid up. Concurrently their sons namely Mr. Ferdian Indra and Mr. Adrian Indra entered into the company as new shareholders. With this development the composition of its shareholders has been changed to become Mr. Faizal Indra (43.6%) his wife Mrs. Susanty Kurnia (18.8%) and their sons Mr. Adrian Indra (18.8%) and Mr. Ferdian Indra (18.8%). The latest revision of notary documents was made by Mrs. Tetty Surtiati Hidayat, SH., a public notary in Bandung and was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-42136.AH.01.02.TH.2009 dated August 28, 2009.
P.T. DKP had been operating since 1985 in trading, supplies and distribution of textile chemicals. It was appointed as sole agent for PROTEX S.A. Textile Chemicals of France, BASF Textile Chemicals of Germany, PROTAN Bio polymer of Norway, MANOKIAN Screen Chemicals of Germany, and BIP (Oldbury) Limited of the United Kingdom, etc. The textile chemicals are sizing, pre-treatment, dyeing, printing, finishing and heat transfer fluid. The whole products are sold to textile plants existing in Bandung, West Java, Jakarta, Central Java and East Java. Mr. Faizal Indra, director of P.T. DKP said that since October 2008 the operation had been declining due to a sluggish of textile business at home. Rupiah depreciation and tight money policy have also aggravated textile industries and made bank loan interest higher more than 35%. Within the last three years, P.T. DKP had practically not taken any business transaction, and very difficult to collect payment from its customers.
Then since the early 2009 the company’s operation has gradually been increasing due to the amelioration economic condition in the country. But in the meantime the condition of textile industries has yet been improved. Considering that most of the company’s customers are located in Bandung, Solo, P.T. DKP had put their head quarter and laboratory in this beautiful city with branches in Solo, Central Java. Mr. Faizal Indra, the marketing manager of P.T DKP, explained that the company sells its products directly to the end users especially textile companies such as the INDORAMA Group, the CANDRATEX Group, the FUJITEX Group, the SRITEX Group, PANASIA Group and so forth. Some 80% of P.T DKP customers are located in Bandung, West Java and the others in Solo, Central Java. We observe that P.T. DKP operation has kept on growing slowly in the last two years.
The domestic demand for various types of chemical products had been rising by 8% to 10% on the average per annum in the last five years in line with the rapid growth of various industrial sectors including paint industry, plastic, ink, textile, rubber, printing and others in the above period of times as the consumers. But, later dwindled as the global economic slowdown since October 2008, followed by tight money policy imposed by Indonesian Central Bank (Bank Indonesia) and also heated by political issue in the country. The demand growth started to awake in June 2009 in line with the amelioration of economic condition in the country. Market competition is very tough on account of large number of other similar companies operating in the country. P.T. DKP business position in this case is not too badly because it has built regular customers and extensive marketing network all across the country.
Imports of Raw Materials and Auxiliary
Goods, 2004-2010
|
Year |
Food and Beverages Mainly for Industry (Million US$) |
Raw
Materials for Industry (Million
US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2004 |
1,456.7 |
568,6 |
2,236.3 |
15,357.8 |
|
|
2005 |
1,325.3 |
830,4 |
2,064.0 |
17,407.0 |
|
|
2006 |
1,352.2 |
909,1 |
2,438.7 |
18,050.7 |
|
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
|
|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
|
|
2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
|
|
2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
|
Source: Central Bureau
of Statistic (BPS)
Until this time P.T. DKP has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of P.T. DKP 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. 21.0 billion
rose to Rp. 22.0 billion in 2009 increased to Rp. 23.0 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. 1.4 billion and the company has an
estimated total networth of at least Rp. 3.0 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.
The management of P.T. DKP is led by Mr. Ferdian Indra (36) a
businessman and professional manager with experience in trading, import and
distribution of chemical. Daily activity he is assisted by his father Mr.
Faizal Indra (67) as director. 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
company’s litigation record is clean and it has not registered with the black
list of Bank of Indonesia. P.T. DIAN KIMIA PUTERA is sufficiently fairly good
for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
UK Pound |
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
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 |
|
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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.