MIRA INFORM REPORT
|
Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
P.T. TEMPO SCAN PACIFIC TBK |
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|
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Formerly Known As : |
P.T. TEMPO SCAN PACIFIC |
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|
Registered Office : |
Gedung Tempo Scan Tower, 5th
& 7th Floor, Jalan H.R. Rasuna Said Kav. 3-4, Jakarta 12950 |
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Country : |
Indonesia |
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|
|
|
Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
20.05.1970 |
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Com. Reg. No.: |
No. AHU-85063.AH.01.02.Tahun 2008 |
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|
Legal Form : |
Publicly Listed Company |
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Line of Business : |
Pharmaceutical
Manufacturing |
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|
No. of Employees : |
5,400 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 71,300,000 |
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Status : |
Good |
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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 |
|
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. TEMPO SCAN PACIFIC Tbk
COMPANY Address
Head Office
Previous address:
Gedung Bina Mulia II, 5th
Floor
Jalan H.R.
Rasuna Said Kav. 11
Jakarta 12950
Indonesia
Phones - (62-21) 5201858 (hunting)
Fax -
(62-21) 5201857
Building Area - 22 storey
Office Space -
460 sq. meters
Region -
Commercial
Status -
Rent
New address:
Gedung Tempo Scan Tower, 5th
& 7th Floor
Jalan H.R.
Rasuna Said Kav. 3-4
Jakarta 12950
Indonesia
Phones - (62-21) 2921 8888 (hunting)
Fax -
(62-21) 2920 9999
Email - investorrelation@thetempogroup.com
Website - http://www.thetempogroup.net
Building Area - 30 storey
Office Space -
480 sq. meters
Region -
Commercial
Status -
Owned
Factories
a. Jalan Letjen M.T. Haryono No. 7
Jakarta 13630
Indonesia
Phones - (62-21) 8091708 (hunting)
Fax. - (62-21) 8091772
Land Area - 12,988 sq. meters
Building Space - 10,980 sq. meters
Region - Commercial
Status - Owned
b. Kawasan Industri EJIP Plot 1-G (Hemaviton Mfg. Division)
Kawasan Industri EJIP Plot 1-H (Bodrex Mfg.
Division)
Lemahabang, Cikarang
West Java,
Indonesia
Phones - (62-21) 8971553 (Hunting)
Fax - (62-21) 8971563
Land Area - 25,833 sq. meters
Building Space - 10,908 sq. meters
Region - Industrial Estate
Status - Owned
Date of Incorporation
a. 20 May 1970 as P.T. SCANCHEMIE
b.
08
January 1991 as P.T. TEMPO SCAN PACIFIC
c.
30
June 1997 as P.T. TEMPO SCAN PACIFIC Tbk.
Legal Form
P.T. Tbk. (Perseroan
Terbatas Terbuka) or Publicly Listed Company
Company Reg.No.
The Ministry of
Laws and Human Rights
a. No.
C2-10683.HT.01.04.TH.1997
Dated 14 October 1997
b. No. AHU-85063.AH.01.02.Tahun 2008
Dated 12 November 2008
Company Status
Domestic Investment Company (PMDN)
Permit by the Government
Department
a. The Department
of Finance
NPWP No. 01.000.781.3-092.000
b. The Capital
Market Supervisory Agency
No. S-939/PM/1994
Dated 24 May 1994
Affiliated/Associated
Company :
A member of the TEMPO Group
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital -
Rp 300,000,000,000.-
Issued Capital - Rp 225,000,000,000.-
Paid up Capital -
Rp 225,000,000,000.-
Shareholders/Owners :
a. P.T. BOGAMULIA NAGADI -
Rp. 213,827,790,900.- (95.03%)
b. The Publics - Rp. 11,172,209,100.- ( 4.97%)
BUSINESS ACTIVITIES
Lines of Business
:
a. Pharmaceutical
Manufacturing
b. Investment
Holding
Production
Capacity :
Initial Unit
a. Tablet - 1,500 million pcs.p.a.
b. Capsules - 20
million pcs.p.a.
c. Liquids - 3 million
bottles p.a.
Expansion Unit
a. Tablets - 600 tons p.a.
b. Capsules -
150 tons p.a.
c. Cream/Oinment -
350 tons p.a.
Total Investment :
a. Equity Capital - Rp
225.0 billion
b. Loan Capital - Rp 69.0 billion
c. Total Investment - Rp
294.0 billion
Started Operation :
1971
Brand Name :
a. HEMAVITON
b. NEW HORMOVITON
c. ZEVIT-C
d. HERPARVITON
e. BODREX
f. BODREXIN
g. OSKADON
g. NEW RHEUMACYL
h. VIDORAN
i. VIDORAN SMART
j. VITONAL-F
k. OBB
l. CANDYVIT-C
m. FLUCYL
n. SCAVEN
o. BEXCE
p. PRENAL
List of Principals :
* F. HOFFMANN - LA ROCHE
* ALCON
* BOEHRINGER INGELHEIM
* E. MERCK
* AVENTIS PHARMA
* AVENTIS PASTEUR
* PHYTO KEMO AGUNG
* UNILEVER INDONESIA
* BEIERSDORF
* NUTRICIA
* FRASER & NEAVE
* ELI LILLY EXPORT, S.A.
* SCICLONE PHARMACEUTICAL INTERNATIONAL, Ltd.
* THE CLOROX INTERNATIONAL CO
* ALFA WASSERMANN S.p.A
* GRIFOLS ASIA Pte,Ltd.
* MAYNE PHARMACEUTICALS Pte, Ltd.
* KAO INDONESIA
Number of Employee :
5,400 persons
Marketing Area :
Domestic - 85% (local market)
Export
- 15% to Asian, European and
African countries.
Main Customers :
- Pharmacies
- Hospitals
- Pharmaceutical Distributors
- Drug Stores
- Institutions
- Hypermarkets
- Horeca
- Supermarkets
- Mini Markets
- Wholesalers
- Pakishops
- Stalls
- Cooperatives
Market Situation :
Very Competitive
Main Competitors :
a. PT. Kimia
Farma Tbk
b. PT. Kalbe
Farma Tbk
c. PT. Pharpros
Tbk
d. PT. Dexa Medica
e. PT. Indofarma Tbk
f. PT. Sanbe
Farma
g. PT. Pharos Indonesia
h. PT. Enseval
i. PT. Abbot Indonesia
j. PT. Bintang Toejoeh, etc
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a.
P.T. Bank MANDIRI Tbk
b. The Hongkong and Shanghai Banking
Corp.
c. The Bank of Tokyo Mitsubishi Ltd.
d. P.T. Bank CIMB NIAGA Tbk.
Auditor :
Tanubrata Sutanto & Rekan, a Public Accounting Firm
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales :
2007 – Rp. 3,124.1 billion
2008 – Rp. 3,633.8 billion
2009 – Rp. 4,497.8 billion
2010 – Rp. 5,134.2 billion
2011 – Rp. 4,229.9 billion (as at 30 September 2011)
Net Profit (Loss)
:
2007 – Rp. 278.4 billion
2008 – Rp. 320.6 billion
2009 – Rp. 360.0 billion
2010 – Rp. 448.9 billion
2011 – Rp. 517.1 billion (as at 30 September 2011)
Payment Manner :
Promptly
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
President Director -
Mr. Handojo Selamet Muljadi
Vice President Directors -
Mr. Paulus Harianto
D
i r e c t o r s - a. Ms. Diana Wirawan
b. Ms. Dewi Murni Sukahar
c. Ms. Ratna Dewi Suryo Wibowo
d. Ms. Irawati Sutanto
e. Mr. Dondi
Sapto Margono
f. Mr. Philips
Gunawan
g. Ms. Aviaska Diah Respati
H.
Board of
Commissioners :
Chairman - Mrs. Dian Paramita Tamzil
Commissioners - a. Mr. Wisnu Katim
b. Mr. Oba Asihjati Adiputro Wijaya
Signatories
:
President Director (Mr. Handojo Selamet Muljadi) or Vice President
Directors (Mr. Paulus Harianto) or one of the directors, which must be approved
by the Board of Commissioners
CAPABILITIES
Management
Capability :
Good
Business Morality
:
Good
Credit Risk :
Low
Credit
Recommendation :
Credit should be proceeded promptly
Proposed Credit Limit :
Fairly large
amount
Maximum Limit of
Credit :
US$ 71,300,000.-
on the 90 days of payment
OVERALL PERFORMANCE
Originally named P.T. SCANCHEMIE, the company was established in May 1970 with an authorized capital of Rp 500,000,000.- and an issued capital of Rp 100,000,000.- entirely paid up. The company was founded by P.T. Perusahaan Dagang TEMPO and N.V. INDONESIAN PHARMACEUTICAL INDUSTRIES (both national private companies) as the original shareholders. In January 1991 the company’s name was changed to P.T. TEMPO SCAN PACIFIC. After a reorganization which was completed in 1993, P.T. Bogamulia Nagadi became the majority shareholder of the company. P.T. Bogamulia Nagadi is the holding company of the present TEMPO Group. In March 1994 the authorized capital was increased to Rp 250,000,000,000.- and the issued capital to Rp 75,000,000,000.- wholly paid up.
In 1 June 1994 P.T. TSP sold 23.33% of its shares to the public through the Jakarta Stock Exchange (BEJ). In June 1997, the words Tbk (Terbuka) was added behind the name to comply with the new law on publicly listed company to become P.T TEMPO SCAN PACIFIC Tbk. (P.T. TSP). In January 1998 the authorized capital was raised to Rp 300,000,000,000.-, issued and paid up capital to Rp 225,000,000,000.- The latest shareholders of the company as P.T. BOGAMULIA NAGADI, a private company (95.03%) andthe Publics (4.97%). The deed of amendment was made by Mrs. Isyana Wisnuwardhani Sadjarwo, SH., and a public notary in Jakarta under Company Registration Number AHU-85063.AH.01.02.Tahun 2008 dated November 12, 2008.
P.T. TSP is a member of the TEMPO Group, a big business group in the pharmaceutical and cosmetic industry and trade in Indonesia. The group is headed by Mrs. Kartini Muljadi SH., and her niece Mrs. Dian Paramita Tamzil SH., both are former leading Indonesian public notary who now has taken up legal consulting as her profession.
P.T. TSP has obtained Domestic Capital Investment (PMDN) facilities issued by BKPM (Investment Coordinating Board) to operate in the pharmaceutical industry. P.T. TSP initially acted as a contract manufacturer of over-the-counter (OTC) medicine for PT Tempo. Since 1980, its business has broadened to include the manufacturing and marketing of a diverse range of well-known ethical and OTC pharmaceutical products under license as well as its own-developed brands. Following a corporate restructuring exercise which began in 1991 and was completed in 1993, P.T. TSP, a Good Manufacturing Practice (“GMP”) certified pharmaceutical manufacturer, acquired its present name.
The company’s plant, which had been in operation since 1971, located at Jalan Letjen M.T. Haryono No.7, East Jakarta, stands on an 11,622 sq.m. land. The plant’s production is made up of over-the-counter drugs of the BODREX and BODREXIN brand against flu, of the CANDYVIT-C, HEMAVITON and VIDOPAN brands to enhance metabolism and nutrition, and ethical (prescription) drugs of the NEO-RHEUMACYL, NODROP, SCANNOXYL and NAALOX brands. The mid-2004 P.T. TSPT had started to operate a factory a new unit in Cikarang, West Java, which concentrates in production of HEMAVITON, BODREX and BODREXIN brand. The company further plans to eventually transfer all the existing plant’s operations in stages to the new plant location.
Tablet capacity is by far the largest compared to the capsule and liquid lines. The table line is currently running at 90% utilization based on one extended shift per day. The table capacity is primarily devoted to the production of the Bode lines. Total tablet production is approximately two billion units per year, while capsules are around 110 million units and liquid, 38 billion bottles. The majority of its capsule machinery is for the production of Hemaviton.
Some 85% of products is marketed domestically through its sister company PT. Perusahaan Dagang TEMPO, while the rest is exported to Asian, European and African countries. OTC pharmaceutical products make up the bulk of P.T. TSP’s pharmaceutical sale, with major products being Bodrex, Bodrexin and Hemaviton. Bodrex, and Bodrexin, respectively, commanded an estimated 22% and 16% of the analgesic and pediatric analgesic markets since 1993, while Hemaviton held an estimated 40% of the multivitamin market share. In addition, P.T. TSP produces Neo Rheumacyl which has an estimated 20% market share in the anti-rheumatism drugs sector. Business position of P.T. TSP is appraised quite well for it has controlled a lot of customers and a wide marketing network at home.
Other than operating in the
pharmaceutical industry, P.T. TSP is also as shareholders and controls 89.7%
shares of P.T. Perusahaan Dagang TEMPO in pharmaceutical distribution; 100%
shares of P.T. TEMPO LAND., in contruction and rental of office building, 100%
shares of P.T. BARCLAY PRODUCT Ltd., manufacturing cosmetics; 100% shares of
P.T. SUPRA FERBINDO FARMA in pharmaceutical manufacturing and others. The table
of P.T. TSP’s subsidiary companies shall be as follows:
(In
million Rp)
|
Name of Subsidiary |
Lines of Business |
Start of Operations |
% of Ownership |
Total Assets (30 Sept. 2011 |
|
PT. Perusahaan Dagang TEMPO |
Pharmaceutical Distribution |
1953 |
89.7 |
1,216,467 |
|
Tempo Pacific Holding Ltd. (Malaysia) |
Investments |
2002 |
100.0 |
519,227 |
|
PT. Tempo Land |
Construction and rental of office building |
1994 |
100.0 |
450,616 |
|
PT. Barclay Products |
Consumer products and cosmetics |
1977 |
100.0 |
283,899 |
|
PT. Supra Ferbindo Farma |
Pharmaceutical Manufacturing |
1987 |
100.0 |
192,880 |
|
PT. Supra Usadhatama |
Distribution services |
1987 |
89.7 |
156,314 |
|
PT. Rudy Soetadi |
Cosmetic Manufacturing |
1977 |
99.5 |
138,688 |
|
PT. Eres Revco |
Cosmetic trading |
1989 |
99.5 |
121,579 |
|
PT. Ageng Adi |
Investments |
1993 |
99.0 |
95,832 |
|
International Beauty Products Ltd. (Thailand) |
Cosmetics trading |
1978 |
100.0 |
73,219 |
|
PT. Polari Limunusainti |
Beverage Industry |
1987 |
51.0 |
64,107 |
|
PT. Pulau Mahoni |
Cosmetic trading |
1971 |
96.0 |
57,009 |
|
PT. Tempo Nagadi |
Soap Manufacturing |
1991 |
100.0 |
49,355 |
|
PT. Tempo Data System |
Computer system services |
1998 |
99.2 |
48,643 |
|
PT. Pritho |
Plastic packaging Mfg |
1978 |
99.0 |
45,577 |
|
RT Beauty Care Ltd. (Thailand) |
Cosmetic Manufacturing |
1985 |
100.0 |
43,246 |
|
PT. Tempo Natural Products |
Food supplement, food and beverage manufacturing |
2006 |
99.98 |
40,033 |
|
PT. Filma Utama Soap |
Consumer products and cosmetic manufacturing |
1974 |
100.0 |
38,092 |
|
PT. Tempo Promosi |
Advertising and promotion services |
1999 |
100.0 |
28,547 |
|
PT. Tempo Logistics |
Distribution services |
2000 |
89.7 |
26,839 |
|
PT. Tempo Research |
Research and development services |
1997 |
99.99 |
25,699 |
|
PT. Tempo Rx Farma |
Pharmaceutical and medical devices trading |
1968 |
99.96 |
20,080 |
|
PT. Tempo Nagadi Trading |
Purchasing services |
1991 |
100.0 |
16,573 |
|
PT. Kendaga Isi Mulia |
Distribution of beverage |
1979 |
51.0 |
13,413 |
|
PT. Tri Nagaharda Satria |
Distribution of beverage |
1990 |
51.0 |
11,171 |
|
PT. Global Eramas |
Trading business |
1987 |
97.2 |
10,160 |
|
Tempo Scan Pacific Philippines Inc. |
Distribution and marketing services |
2007 |
100.0 |
4,545 |
|
PT. Kian Mulia Manunggal |
Rental of Building |
1981 |
51.0 |
3,669 |
|
PT. Tempo Mahoni |
Export and import, trading, distribution and agent |
2006 |
99.96 |
3,183 |
|
Tempo Nagadi Asia Pte. Ltd. (Singapore) |
Trading business and purchasing services |
1992 |
100.0 |
624 |
Source: PT. Tempo Scan Pacific Tbk
According to the financial report of P.T. TSP audited by Tanubrata Sutanto & Rekan, a public accounting firm in Indonesia P.T. TSP’s total sales in 2008 amounted to Rp. 3,633.8 billion with a total net profit of Rp. 320.6 billion, increased to Rp. 4,497.8 billion with a total net profit of Rp. 360.0 billion in 2009 and rose again to Rp. 5,134.2 billion with a net profit of Rp. 448.9 billion in 2010. As at 30 September 2011 the total of its sales turnover amounted to Rp. 4,229.9 billion with a total net profit of Rp. 517.1 billion, with total assets of Rp. 4,108.6 billion. Financial statement as 0f 31 December 2008, 2009, 2010, and as at 30 September 2011 are attached.
The company’s
management is headed by Mr. Handojo Selamet Muljadi (46), one of the top
figures of the TEMPO Group. In his day-to-day activities, he is assisted by Mr.
Paulus Harianto (61), as Vice President Director and seven directors namley Ms.
Diana Wirawan, Ms. Dewi Murni Sukahar, Ms. Ratna Dewi Suryo Wibowo, Ms. Irawati
Sutanto, Mr. Dondi Sapto Margono, Mr. Philips Gunawan and Ms. Aviaska Diah
Respati. But, the prime-mover of the
company is Mrs. Dian Paramita Tamzil, SH. (71).
She is chairman of the company and the TEMPO Group. The company has an experienced management,
further made up of professional managers in the manufacture and distribution of
pharmaceuticals. They have wide relations with government authorities,
particularly at the Department of Health, as well as with private businessmen
within and outside the country. So
far we have never yet heard of the company’s management having been involved in
business malpractices.
P.T. TEMPO SCAN PACIFIC Tbk is appraised quite feasible for business transaction.
Attachment:
P.T.
TEMPO SCAN PACIFIC TBK
FINANCIAL STATEMENTS
Per 31 December
2008, 2009, 2010 and As of 30 September 2011
(In million Rp )
|
DESCRIPTION |
As of 30 Sept. 2011 |
31 DECEMBER |
||
|
2010 |
2009 |
2008 |
||
|
1. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Cash
Equivalent |
1,471,142 |
1,398,375 |
1,180,731 |
1,008,253 |
|
- Short Term Investment |
51,149 |
52,377 |
59,270 |
54,848 |
|
- Trade Receivable |
|
|
|
|
|
* Third Parties |
582,905 |
535,647 |
464,056 |
371,396 |
|
* Related Parties |
187 |
504 |
571 |
1,176 |
|
- Other Receivable |
344,739 |
18,415 |
17,738 |
18,587 |
|
- Inventories - net |
720,222 |
595,461 |
585,060 |
556,760 |
|
- Other current assets |
164,790 |
41,083 |
46,650 |
44,136 |
|
Total Current Assets |
3,035,872 |
2,642,066 |
2,354,077 |
2,055,155 |
|
b. Non-current Assets |
|
|
|
|
|
- Deferred Tax Assets |
36,671 |
31,881 |
30,841 |
28,608 |
|
- Investment in shares
of stock |
45,291 |
48,709 |
47,037 |
54,147 |
|
- Property, plant and
equipment, net of accumulated
depreciation |
842,244 |
760,788 |
715,003 |
665,063 |
|
- Excess of investment
costs |
23,195 |
26,055 |
32,550 |
70,766 |
|
- Other Non-current
Assets |
125,359 |
80,097 |
83,595 |
93,319 |
|
Total Non-Current Assets |
1,072,670 |
947,530 |
909,026 |
911,902 |
|
TOTAL ASSETS = TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
4,108,632 |
3,589,596 |
3,263,103 |
2,967,057 |
|
2. LIABILITIES |
|
|
|
|
|
a. Bank Loans |
212,573 |
113,349 |
63,600 |
32,700 |
|
b. Trade Payables |
|
|
|
|
|
- Third Parties |
472,493 |
411,830 |
439,570 |
352,759 |
|
- Related Parties |
991 |
6,805 |
5,493 |
1,116 |
|
c. Other Payables |
|
|
|
|
|
- Third Parties |
109,067 |
118,939 |
59,372 |
62,746 |
|
- Related Parties |
27,420 |
7,306 |
5,487 |
7,927 |
|
d. Accrued Expanses |
41,609 |
83,718 |
82,468 |
55,971 |
|
e. Dividend Payables |
17,000 |
-- |
-- |
-- |
|
f. Taxes Payables |
57,750 |
40,623 |
21,033 |
22,325 |
|
g. Current maturities of obligations
under capital
leases |
1,320 |
1,783 |
1,705 |
960 |
|
Total Current Liabilities |
940,223 |
784,353 |
678,728 |
536,505 |
|
|
|
|
|
|
|
b. Non-Current Liabilities |
|
|
|
|
|
- Deferred Tax
Liabilities – net |
9,974 |
10,061 |
8,162 |
6,908 |
|
- Deferred gains of
sales-and-leaseback |
8 |
46 |
96 |
146 |
|
- Obligation under
capital leases, net |
2,716 |
3,625 |
5,399 |
1,389 |
|
- Estimated liabilities
for employee service entitlement
benefits |
175,772 |
146,778 |
127,262 |
110,985 |
|
Total Non-Current Liabilities |
188,470 |
160,510 |
140,919 |
119,428 |
|
- Minority Interests |
-- |
-- |
34,585 |
75,437 |
|
3. STOCKHOLDERS’
EQUITY |
|
|
|
|
|
- Issued and Paid up Capital |
225,000 |
225,000 |
225,000 |
225,000 |
|
- Additional Paid up Capital |
124,457 |
124,457 |
124,457 |
124,457 |
|
- Foreign currency translation
adjustment |
(10,863) |
(9,284) |
(7,594) |
4,006 |
|
- Translation Adjustment |
12,328 |
12,328 |
12,328 |
12,328 |
|
- Difference due to change in
equity of Security |
76,225 |
71,377 |
71,552 |
71,155 |
|
- Difference of land re-value |
-- |
-- |
-- |
-- |
|
- Unrealized loss on available
for sale |
130 |
1,358 |
649 |
(3,773) |
|
- Retained Earning |
2,500,217 |
2,178,868 |
1,982,479 |
1,802,438 |
|
Total Stockholders’ Equity |
2,927,494 |
2,604,104 |
2,408,871 |
2,235,688 |
|
|
|
|
|
|
|
3. INCOME
STATEMENT |
|
|
|
|
|
a. Total Sales |
4,229,860 |
5,134,242 |
4,497,831 |
3,633,789 |
|
b. Cost of Goods Sold |
(2,547,528) |
(3,239,912) |
(2,822,352) |
(2,219,245) |
|
c. Gross Profit |
1,682,332 |
1,894,330 |
1,675,579 |
1,414,544 |
|
d. Operating Expenses |
(1,111,083) |
(1,303,335) |
(1,230,025) |
(1,051,174) |
|
e. Operating Profit (Loss) |
571,249 |
590,995 |
445,554 |
363,371 |
|
f. Other Income (Expenses) |
59,764 |
38,497 |
35,032 |
77,512 |
|
g. Profit Before Income Tax |
631,013 |
629,493 |
480,586 |
440,883 |
|
h. Income Tax Expanse |
(113,913) |
(134,732) |
(119,662) |
(113,968) |
|
i. Income before Minority Interest |
517,100 |
494,761 |
360,924 |
326,915 |
|
j. Minority interest in net income of subsidiaries |
0 |
(5,872) |
(960) |
(6,267) |
|
k. Net Profit (Loss) |
517,100 |
448,889 |
359,964 |
320,648 |
Notes: Audited by Tanubrata Sutanto
& Rekan, a Public Accounting Firm
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
UK Pound |
1 |
Rs.82.44 |
|
Euro |
1 |
Rs.71.08 |
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.