MIRA INFORM REPORT
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Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. SAMPOERNA AGRO TBK |
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Formerly Known As : |
P.T. SAMPOERNA AGRO |
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Registered Office : |
Jalan Basuki Rahmat No. 788, Palembang, 30127, South Sumatera |
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Country : |
Indonesia |
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Date of Incorporation : |
07.06.1993 |
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Com. Reg. No.: |
No. AHU-76222.AH.01.02.TH.2008 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Oil Palm Plantation and Palm Oil Refinery |
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$ 6,000,000 |
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Status : |
Satisfactory |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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.
SAMPOERNA AGRO Tbk
Company Address
Head Office
Jalan Basuki Rahmat No. 788
Palembang, 30127
South Sumatera
Indonesia
Phones - (62-711) 813388 (Hunting)
Fax -
(62-711) 811585, 813188
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Corporate Office
Sampoerna Strategic Square Tower A, 28th Floor
Jalan Jend.
Sudirman Kav. 45
Jakarta Selatan,
12930
Indonesia
Phones - (62-21) 577 1711 (Hunting)
Fax -
(62-21) 577 1712
Building Area - 30 storey
Office Space - 400 sq. meters
Region - Commercial
Status - Rent
Plantation Site & Refinery
Desa Mekar Wangi, Desa Sukasari and Suka Mukti
Kec. Mesuji & Perwakilan Lempuing
Kabupaten Ogan Komering Ilir
South Sumatra
Date of Incorporation
a. 7 June 1993 as
P.T. SELAPAN JAYA
b. 16 February 2007 as P.T. SAMPOERNA AGRO
c. 11 April 2007 as P.T. SAMPOERNA AGRO Tbk
Legal Form
P.T. Tbk (Perseroan Terbatas Terbuka) or Public Listed
Company
Company Reg. No.
The Ministry
of Law and Human Rights
- No. C2-1840
HT.01.01.TH.94
Dated 4 February 1994
- No.
AHU-76222.AH.01.02.TH.2008
Dated 21 October 2008
Company Status
Foreign Investment (PMA) Company
Permit by the Government
Department
The Department
of Finance
NPWP No. 01.598.906.4-308.000
The Department
of Industry and Trade
SIUP No. 68/06-6/PB/X/93
Dated 16 October 1993
The Capital
Market Supervisory Agency
No. S-2707/BL/2007
Dated 18 June 2007
Related Company :
A Member Company of the SAMPOERNA STRATEGIC Group (see
attachment)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 1,100,000,000,000.-
Issued Capital :
Rp. 378,000,000,000.-
Paid up Capital :
Rp. 378,000,000,000.-
Shareholders/Owners :
a. SAMPOERNA AGRI RESOURCES PTE, LTD. - Rp. 253,443,500,000.-
Address : 5 Rue Des Iris, 92 Antony Paris
France
b. Publics each below 5% -
Rp. 124,556,500,000.-
Address : Indonesia Stock Exchange
South Jakarta
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
a. Oil Palm
Plantation and Palm Oil Refinery
b. Investment Holding
Production Capacity :
a. Fresh Fruit
Bunches (FFB) - 168,000 tons p.a.
b. Crude Palm Oil (CPO) - 36,960 tons
p.a.
c. Palm Kernel (PK) - 54,000 tons p.a.
Total Investment :
a. Equity Capital - Rp. 378.0 billion
b. Loan Capital - Rp. 64.8 billion
c. Total Investment - Rp. 442.8 billion
Started Operation :
November 1998
Brand Name :
SGRO
Technical Assistance :
None
Number of Employee :
6,234 persons
Marketing Area :
Local - 80%
Export - 20%
Main Customers :
a. P.T. ASIANAGRO
AGUNG JAYA
b. P.T. KARYA PRAJONA
NELAYAN
c. P.T. SINAR ALAM
PERMAI
d. P.T. SINAR JAYA
INTI MULYA
e. CARGILL INTERNATIONAL TRADING PTE, LTD.,
Singapore
f. Buyers in Europe Union and the USA
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ASTRA AGRO LESTARI Tbk
b. P.T. BW PLANTATION Tbk
c. P.T. GUNUNG SAWIT BINA LESTARI
d. P.T. TUNAS
BARU LAMPUNG Tbk
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Jend. Sudirman
No. 70
Palembang, South
Sumatera
Indonesia
b. P.T. Bank MANDIRI
Tbk
Jalan Jend.
Sudirman No. 55
Palembang, South
Sumatera
Indonesia
c. P.T. Bank DANAMON
INDONESIA Tbk
Menara Bank
Danamon
Jalan Prof. Dr. Satrio Kav. E
4 No. 6
Jakarta Selatan
Indonesia
Auditor :
Purwantono, Suherman & Surja
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 2,288.1 billion
2009 – Rp. 1,815.5 billion
2010 – Rp. 2,311.7 billion
2011 – Rp. 1,711.3 billion (as per 30 June)
Net Profit (estimated) :
2008 – Rp. 439.5 billion
2009 – Rp. 281.8 billion
2010 – Rp. 451.7 billion
2011 – Rp. 361.6 billion (as per 30 June)
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Ekadharmajanto Kasih
Directors - a.
Mr. Yasin Chandra
b. Mr. Sie Eddy Kurniawan
c. Mr. Achmad Hadi Fauzan
Board of Commissioners :
President Commissioner - Mr. Michael Sampoerna, MBA
Commissioners - a. Mr.
Sugiarta Gandasaputra
b. Mr. Umar Bin Abdullah (Dilip
Kumar S/O Kumar)
c. Mr. Phang Cheow Hock
d. Mr. Arief Tarunakarya Surowidjojo
Signatories :
President Director (Mr. Ekadharmajanto Kasih) or one of the
Directors (Mr. Yasin Chandra, Mr. Sie Eddy Kurniawan or Mr. Achmad Hadi Fauzan)
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$ 6,000,000 on 90 days D/A
OVERALL PERFORMANCE
Originally the company named P.T. SELAPAN JAYA was incorporated in Jakarta on June 7, 1993 with the authorized capital of Rp. 1,000,000,000 issued capital of Rp. 200,000,000 fully and paid up. The founding shareholders of the company are Mr. Raden Soetiyono, Mr. Daman Leo, Mr. Salikin and Mr. Chan Ardjoean, they are Indonesian businessmen of Chinese descent. The company notary deed has been changed a couple of times. Then in May 1994 the authorized capital increased to Rp. 56,000,000,000 issued capital to Rp. 11,200,000,000 fully and paid up. In May 1998 the authorized capital was increased to Rp. 98,000,000,000 issued capital to Rp. 44,000,000,000 entirely paid up.
Later in February 2007 the company was changed to P.T. SAMPOERNA AGRO. Concurrently the whole shares had been taken over by VENTURE MAX RESOURCES LTD., of Singapore and P.T. NITIAGRO LESTARI as new shareholders and the company status changed into Foreign Investment (PMA) facility status. After that in April 2007 the company the word Tbk (Terbuka) was added behind its name to comply with regulation of public listed company with the complete name P.T. SAMPOERNA AGRO Tbk (P.T. SGRO). On the same occasion the authorized capital raised to Rp. 1,100,000,000,000 issued capital to Rp. 378,000,000,000 entirely paid up. With this development the composition of its shareholders are VENTURE MAX RESOURCES PTE, LTD., Singapore (71.8%), P.T. NITIAGRO LESTARI (3.8%)and Publics (24.4%). Then in June 2008, VENTURE MAX RESOURCES PTE, LTD., withdrew and the whole shares sold to SAMPOERNA AGRI RESOURCES PTE, LTD., of Singapore. The deed of amendments was made Mr. Sutjipto, SH., a public notary in Jakarta and was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-76222.AH.01.02.TH.2008 dated October 21, 2008. According to annual report as 30 June 2011 the composition of its shareholders has been changed to become SAMPOERNA AGRI RESOURCES PTE, LTD., Singapore (67.05%) and Publics (32.95%).
P.T. SGRO is a member company of the SAMPOERNA STARTEGIC Group, a large sized business group in oil palm plantation and refinery, agribusiness, telecommunication, industrial paper etc., which majority shares is controlled by Mr. Michael Sampoerna and his father Mr. Putera Sampoerna.
P.T. SGRO and subsidiaries are engaged in the oil palm plantations, palm oil mill, kernel crushing plant, germinated seeds production, utilization of forestry products non-timber (sago) and others, that are located in South Sumatra, West Kalimantan, Central Kalimantan and Riau. Currently, P.T. SGRO together with its subsidiary companies are one of the rapidly growing palm oil company in Indonesia. The Company is also one of the few oil palm seed producers in Indonesia that received license from the Indonesian Ministry of Agriculture to produce and sell oil palm seeds to third parties. In 2010, total planted area of its nucleus and plasma estates in Sumatra region consists of 60,228 hectares of matured palms and 17,636 hectares of immature palms. While in Kalimantan, which includes the ones under partnership (kemitraan) scheme, consists of approximately 13,272 hectares of matured palms, and 11,643 hectares of immature palms. Within the same period, the Company manages nucleus estates of about 58,095 hectares while plasma and kemitraan estates under guidance are about 44,464 hectares.
The Company has six Palm Oil Mills (POM), of which five are situated in Sumatra and one in Kalimantan. The POMs in Sumatra have a total capacity to produce 380 tons of fresh fruit bunches (FFB) per hour, whereas the POM in Kalimantan has a capacity to produce 75 tons of FFB per hour. One of the Company’s subsidiaries, P.T. Binasawit Makmur (BSM) produces and sells six varieties of high quality oil palm seeds with diverse genetic origins which are derived from 225 set of dura families and 50 pisifera families.
Sumatra
Estates
Total land concession of Sampoerna Agro in South Sumatra cover an area of approximately 145,000 hectares, including the plasma estates under guidance, majority of which constitute well-established and matured oil palm estates at their peak production phase. The average age of the palms in our Sumatra estates is 11 years old, which constitutes the initial phase of the palm’s most productive period between the ages of 8 years to 19 years.
The estates are managed by P.T. SGRO and five other operating subsidiary companies, namely P.T. Binasawit Makmur, P.T. Telaga Hikmah, P.T. Aek Tarum, P.T. Mutiara Bunda Jaya and P.T. Gunung Tua Abadi. With a total land area of approximately 145,000 hectares in South Sumatra, as at year-end 2010 Sampoerna Agro had approximately 78,000 hectares of planted oil palm estates, 180 hectares of rubber estates, with the remaining 67,000 hectares or so to includes areas for specific purposes such as seed gardens, nurseries landbanks, and environmental preservation areas.
A winning feature of P.T. SGRO oil palm estates in South Sumatra remains the contiguous location of one estate to another. No single estate should be more than a one-hour drive by truck to our five oil-palm mills that are strategically located within the estate clusters. This makes it ideal for harvesting and transporting FFB to mills, storage and distribution of fertilizers, as well as for various other logistical activities. In 2010, another oil palm mill was added in a location not far from the other four established mills, adding to increased palm oil output capacity for the region which started operations in early 2010. With well-established infrastructure and peak maturing palms, our South Sumatra estates still accounted for almost 85% of Sampoerna’s total FFB production in 2009. Total FFB production from the Sumatra estates reached approximately 1.17 million tons in 2010 compared to 1.01 million tons in 2009 while production of CPO totaled approximately 248 thousand tons in 2010, 12% higher than the 222 thousand tons in 2009. The oil extraction rates and kernel extraction rates were 21.3% and 5.4%, respectively, in 2010, 22.0% and 5.2% in 2009. The fall in oil extraction rate was mostly due to the unfriendly weather that persisted throughout 2010.
Kalimantan
Estates
Our oil palm estates in the region oversaw a significant expansion of planted area of about 16% in 2010. In addition to the organic expansion taking place in 2010, there was a brown field acquisition of approximately 1,700 ha. As at year-end 2010, the Company actively managed approximately 25,000 hectares of planted area, up from approximately 20,000 hectares in the previous year. P.T. SGRO continued to make progress in raising the level of quality and productivity of the producing oil palm estates in Central and West Kalimantan where all of our palm estates are located. Total FFB production out of these Kalimantan estates managed to improve in 2010 versus 2009 at the back of significantly more rainfall. FFB output reached a total of 206,425 tons in 2010, 7% growth from 193,276 tons in 2009. The per-hectare yield of FFB from the Kalimantan estates continued to improve, as we maintained their up-keep efforts to bring these estates at par with the productivity of South Sumatra estates. As a result, yields have steadily improved over the years, climbing from an average of 6.4 tons per hectare in 2005 to 15.6 tons in 2010.
Furthermore, in 2010 their Kalimantan operations began to feel the full benefits of the palm processing mill with an expanded processing capacity of 75-tonne of FFB per hour, as well as the availability of two new 2,000-tonne CPO storage tanks and jetty facilities that began construction in 2009.
Riau Sago Estates
The sago plantation segment is the Company’s through P.T. NUSANTARA SAGO PRIMA having acquired more than 21,000 hectares of land concession in the Riau Province of Sumatra, of which some 4,000 hectares of sago palms are ready for harvesting. On top of that the Company has started the construction of sago processing mill with total production capacity of 100 tons sago starch per day which is expected to come online at the end of 2011. PT Sampoerna Agro Tbk is a diversified plantation company that is currently engaged in the production of four main product lines, which are Germinated Oil Palm Seed, Crude Palm Oil, Palm Kernel, Slab Rubber and Sago.
The oil palm plantation segment, which produces the Fresh Fruit Bunch (FFB) oil palm from which Crude Palm Oil (CPO) and Palm Kernel (PK) is milled, constitutes the Company’s largest business line to date, encompassing oil palm estates (nucleus and plasma) grown across more than 100,000 hectares of plantation in South Sumatra, Central Kalimantan and West Kalimantan. The palm seed segment is one of the Company’s fastest growing business segments, which includes nursery and agronomics R&D facilities in 540 hectares of land Seed Garden in South Sumatra. The rubber plantation segment comprises of 183 hectares of mature rubber estates located in South Sumatra.
The sago plantation segment is the Company’s latest undertaking, having acquired more than 21,000 hectares of land concession in the Riau Province of Sumatra, of which some 4,000 hectares of sago palms are ready for harvesting. On top of that the Company has started the construction of sago processing mill with total production capacity of 100 tons sago starch per day which is expected to come online at the end of 2011.
Production of FFB
Sampoerna Agro managed to harvest 1.37 million tons of FFB, 14% higher than the previous year. Fourth quarter of 2010 came out to be the peak producing quarter of both regions. Sumatra estates produced 13% more FFB in fourth quarter over third quarter while Kalimantan estates production was up 33%. This resulted in 15% year-on-year (“yoy”) production growth for Sumatra and 7% growth for Kalimantan.
Production of CPO and PK
Overall CPO output climbed 9% to 288,885 tons in 2010 versus 2009. The growth is attributable to Sumatra estates that produced 248,366 tons of CPO, or 12% higher than 2009. On the other hand, Kalimantan estates produced 4% less CPO in 2010 due to significantly more rainfall versus the previous year that resulted in greater magnitude drop in OER.
Production of Germinated
Oil Palm Seeds
In 2010, the total production of these germinated seeds amounted to 9.7 million seeds, increased from 5.9 million seeds in 2009. This is due to expanding seeds demand both within the Group and in the oil palm industry.
Production of Other
Commodities
In addition to CPO and oil palm related products, the Company manages rubber estates and sago estates of which approximately 183 hectares of rubber estates and 4,000 hectares of sago estates are matured. In 2010, production of slab rubber reached 420 tons, compared to 408 tons in 2009. While the production of sago reached 36,000 trunk sections in 2010.
Processing Capability
On March 24, 2010, one more palm oil mill (POM) located in South Sumatra had commissioned operations, adding another 60 tons of FFB per hour milling capability making the Company total capacity of 455 tons FFB per hour out of 6 POM in total. There are now 5 POM operational in Sumatra region while Kalimantan region has 1 POM. On top of the POM, Sampoerna Agro also has 1 Kernel Crushing Plant (KCP) operational in South Sumatra with crushing capability of 150 tons of PK per day.
Besides, P.T. SGRO
is also engaged in investment holding by controls shares in a numbers of
subsidiaries of the SAMPOERNA AGRO Group members. We observe the operation of
P.T. SGRO has been fluctuating in the last three years.
P.T. SAMPOERNA AGRO Tbk Ownership
|
Name of Company |
Lines of Business |
Percentage of Ownership (%) |
|
Direct Ownership |
|
|
|
P.T. TELAGA HIKMAH |
Oil Palm Plantation and Palm Oil Mills |
99.45 |
|
P.T. AEK TARUM |
Oil Palm, Rubber Plantations and Palm Oil Mills |
99.00 |
|
P.T.
GUNUNG TUA ABADI |
Oil Palm Plantation and Palm Oil Mills |
99.86 |
|
P.T. MUTIARA BUNDA JAYA |
Oil Palm Plantation, Palm Oil Mills and Kernel Crushing
Plant |
99.38 |
|
P.T. BINASAWIT MAKMUR |
Oil Palm Plantation and Germinated Seeds Production |
99.00 |
|
P.T. SAWIT SELATAN |
Oil Palm Plantations |
99.69 |
|
P.T. SUNGAI MENANG |
Oil Palm Plantations, food crops and Horticulture |
99.91 |
|
P.T. TANIA BINATAMA |
Oil Palm Plantations |
99.67 |
|
P.T. SELATANJAYA PERMAI |
Oil Palm Plantations |
99.91 |
|
P.T.
USAHA AGRO INDONESIA |
Oil Palm Plantations |
99.99 |
|
P.T.
PERTIWI LENGGARA AGROMAS |
Oil Palm Plantations |
99.99 |
|
P.T. SUNGAI RANGIT |
Oil Palm Plantations and Palm Oil Mills |
95.00 |
|
P.T. SAMPOERNA BIO FUELS |
Business Consultation and Management in Biofuel |
99.99 |
|
P.T.
NUSANTARA SAGO PRIMA |
Utilization of Forestry Products Non-Timber (sago) |
99.90 |
|
Indirect Ownership |
|
|
|
P.T. LANANG AGRO BERSATU |
Oil Palm Plantations |
99.97 |
|
P.T. NATIONAL SAGO PRIMA |
Utilization of Forestry Products Non-Timber (sago) |
91.85 |
|
P.T.
PERTIWI AGRO SEJAHTERA |
Oil Palm Plantations |
99.99 |
|
P.T.
WAWASAN KEBUN UTAMA |
Oil Palm Plantations |
99.99 |
Source: P.T. SAMPOERNA AGRO Tbk
Generally
outlook, the demand for CPO and PKO products has kept on rising well within the
last five years in line with the increasingly growing demand for CPO and PKO
products both from the local and foreign market. From the production sector,
Indonesian CPO and PKO production has kept on rising significantly. The
increase in production is caused by the increasingly growing wider of new oil
palm estate development and production in Indonesia within the last several
years. Besides, the national cooking oil production has kept on increasing in
the last five years in line with the changing of the publics’ consumption
patterns from using coconut cooking oil to palm cooking oil. Palm oil may tumble as much as 7.4
percent by the end of October 2010 as Malaysian production rebounds and
Indonesian growers speed up shipments because of an export tax, according to
Godrej International Ltd. Indonesia said August 2010 that production may fall
to 19.0 million and 20 million tons, from 21 million in 2009. Global
vegetable-oil demand will increase by 4.5 million tons in the year beginning
Oct. 1, 2010 exceeding the 3.8 million tons increase in supply, Ministry said. The
national crude palm oil, palm kernel oil production has kept on increasing in
the last five years in line with the changing of the publics’ consumption
patterns from using coconut cooking oil to palm cooking oil.
Indonesia’s Production, Consumption, Export of CPO,
2006-2010*
|
Year |
Production (Thousand Ton) |
Consumption (Thousand Ton) |
Export (Thousand Ton) |
|
2006 |
16,05 |
3,7 |
12,54 |
|
2007 |
17,27 |
4,0 |
12,65 |
|
2008 |
19,20 |
4,5 |
14,61 |
|
2009 |
21,14 |
4,9 |
16,94 |
|
2010* |
22,30 |
5,1 |
17,15 |
Source: Agriculture Ministry, GAPKI
*)
Estimated by GAPKI (Indonesian Palm Oil Association)
According to the financial statement of P.T. SGRO as per 31 December 2008 the sales turnover of the company amounted at Rp. 2,288.1 billion with a net profit of Rp. 439.5 billion decreased to Rp. 1,815.5 billion with a net profit of Rp. 281.8 billion in 2009 rose to Rp. 2,311.7 billion with a net profit of Rp. 451.7 billion in 2010. As per 30 June 2011 the sales turnover had reached at Rp. 1,711.3 billion with a net profit of Rp. 361.6 billion. It is projected that total sales turnover of the company will increase at least 6% in 2012. We observe that P.T. SGRO is supported by financially fairly strong behind it. So far, we did not hear that the company having been black listed by the Central Bank (Bank Indonesia).
The company usually pays its debts punctually to suppliers. The condense
financial statement is shown.
(In
million Rp)
|
Descriptions |
30 June 2011 |
31 December |
||
|
2010 |
2009 |
2008 |
||
|
A. ASSETS |
|
|
|
|
|
a. Current Assets |
1,117,635 |
868,210 |
615,542 |
803,629 |
|
b. Non Current Assets |
2,173,539 |
2,007,637 |
1,646,256 |
1,352,535 |
|
c. Other Assets |
5,452 |
1,688 |
1,739 |
1,190 |
|
TOTAL ASSETS = TOTAL LIABILITIES & EQUITY |
3,291,074 |
2,875,847 |
2,261,798 |
2,156,164 |
|
B. LIABILITIES
&STOCKHOLDERS EQUITY |
|
|
|
|
|
a. Current Liabilities |
659,789 |
458,869 |
235,648 |
354,044 |
|
b. Non Current Liabilities |
314,482 |
257,713 |
239,319 |
223,944 |
|
c. Stockholders Equity : -
Paid Up Capital -
Retained Earnings Total Stock
holders Equity |
378,000 1,906,324 2,284,324 |
378,000 1,754,248 2,132,247 |
378,000 1,658,704 1,765,581 |
378,000 1,525,863 1,552,964 |
|
C. INCOME STATEMENT |
|
|
|
|
|
a. Sales Net |
1,711,331 |
2,311,749 |
1,815,557 |
2,288,143 |
|
b. Operating Profit |
490,385 |
655,785 |
460,037 |
611,456 |
|
c. Net Profit |
361,657 |
451,717 |
281,766 |
439,516 |
Notes: 31 December 2008, 2009, 2010
by KAP Purwantono, Suherman & Surja; *30 June 2011 un audited
The management of P.T. SGRO is led by Mr. Ekadharmajanto Kasih (60) has been President Director of PT Sampoerna Agro Tbk since June 27, 2008. He also serves as Director of Samko Timber Ltd and Independent Commissioner of PT HM Sampoerna Tbk. He has served as Commissioner of Sampoerna Agro from 2007 to 2008. He has worked with PT HM Sampoerna Tbk and held various positions, including Commissioner, Chief Financial Officer and Financial Controller. He holds a Bachelor’s degree in Economics from Universitas Indonesia in 1975.
Daily operation the
company is runs by other directors namely Mr. Yasin Chandra (47) a professional
manager with experience in oil plantation and refinery. Yasin Chandra was
appointed as Managing Director of Sumatera region since 2007. He received
Master degree in Computer Science from University FRIDERICIANA ZU KARLSRUHE,
Germany. Daily activity he is assisted by Mr. Sie Eddy Kurniawan (39) as
director. Mr. Sie Eddy Kurniawan received Bachelor degree in Accounting from
University Katolik Parahyangan, Bandung. The company's management is handled by
professional managers in the above business. They have wide relations with
private businessmen within and outside the country. The others directors are
Mr. Achmad Hadi Fauzan (44). However the top figure of the company is Mr.
Michael Joseph Sampoerna (33) has been President Commissioner of PT Sampoerna
Agro Tbk since 2007.He also serves as President Director of PT Sampoerna
Telekomunikasi Indonesia, Director of Samko Timber Ltd., Director of Sampoerna
Strategic and Director of PT Sampoerna Bio Energi. He was President Director of
PT HM Sampoerna Tbk. He studied at the London School of Economics, United
Kingdom.
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. SAMPOERNA
AGRO Tbk is sufficiently fairly good for business transaction.
Attachment:
List of the SAMPOERNA
STRATEGIC Group Members
1.
ADI SAMPOERNA, P.T. (Tobacco Trading)
2.
AEK TARUM, P.T. (Oil Palm Plantation ad Palm Oil Refinery)
3.
BINASAWIT MAKMUR, P.T. (Oil Palm Plantation and Palm Oil
Refinery)
4.
BUANA SAKTI, P.T. (Office Building Management Services)
5.
ESA KERTAS NUSANTARA, P.T. (Culture Paper Manufacturing)
6.
GUNUNG TUA ABADI, P.T. (Oil Palm Plantation)
7.
GLOBAL PTE. LTD., Singapore (Holding Company)
8.
GRAHA SAMPOERNA, P.T. (Office Building Management and
Development)
9.
KARYA WIJAYA SUKSES, P.T. (Forestry Concession)
10. LANANG AGRO BERSATU, P.T.
(Oil Palm Plantations)
11. MUTIARA BUNDA JAYA, P.T.
(Oil Palm Plantation and Palm Oil Refinery)
12. NATIONAL SAGO PRIMA, P.T.
(Utilization of Forestry Products Non-Timber/Sago)
13. NUSANTARA SAGO PRIMA, P.T.
(Utilization of Forestry Products Non-Timber/Sago)
14. PALMA AGRO LIMTED
(Investment Holding and Management Trust)
15. PERTIWI AGRO SEJAHTERA, P.T.
(Oil Palm Plantations)
16. PAPERPRO INDONESIA, P.T.
(Trading and Distribution of Paper)
17. PERTIWI LENGGARA AGROMAS,
P.T. (Oil Palm Plantation and Palm Oil Refinery)
18. SAMPOERNA AGRI RESOURCES
PTE, LTD., Singapore (Investment Holding)
19. SAMPOERNA BIO FUELS, P.T.
(Business Consultations and Management in Biofuel)
20. SAMPOERNA STRATEGIC, P.T.
(Investment Holding and Holding Company)
21. SAMPOERNA TELECOM, P.T.
(Fixed Cellular Communication and CDMA Cellular Telephone Operating Services)
22. SAMPOERNA AGRO Tbk, P.T.
(Oil Plam Plantation and Refinery and Investment Holding)
23. SAWIT SELATAN, P.T. (Oil
Palm Plantation and Palm Oil Refinery)
24. SELATANJAYA PERMAI, P.T.
(Oil Palm Plantation and Palm Oil Refinery)
25. SUMALINDO MITRA RESINDO,
P.T. (Formaldeyde and Resin Processing Manufacturing)
26. SUMALINDO LESTARI JAYA Tbk,
P.T. (Integrated Woodbased Industry and Investment Holding)
27. SUNGAI MENANG, P.T. (Oil
Palm Plantation and Palm Oil Refinery)
28. SUNGAI RANGIT, P.T. (Oil
Palm Plantation)
29. TANIA BINATAMA, P.T. (Oil
Palm Plantation and Palm Oil Refinery)
30. TELAGA HIKMAH, P.T. (Oil
Palm Plantation
31. USAHA AGRO INDONESIA, P.T.
(Oil Palm Plantation and Palm Oil Refinery)
32. WAWASAN KEBUN UTAMA, P.T.
(Oil Palm Plantations)
33. Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.87 |
|
UK Pound |
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
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.