MIRA INFORM REPORT
|
Report Date : |
09.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
P.T. ADHITAMA MANDIRI |
|
|
|
|
Registered Office : |
Ruko Permata Ancol Blok E No. 5, Jalan R.E. Martadinata, Ancol, North Jakarta |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
24.09.2002 |
|
|
|
|
Com. Reg. No.: |
No. C-23273 HT.01.01.TH.2002 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Trading and Distribution of Perfumes and
Fragrance |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 180,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Usually Correct |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Name of Company
P.T. ADHITAMA MANDIRI
company Address
Head Office
Previous address:
Ruko Permata Ancol Blok E No. 5
Jalan R.E.
Martadinata, Ancol
North Jakarta
Indonesia
Phones -
(62-021) 6453502, 6453506
Fax. - (62-021) 6456220
New address
Ruko Mahkota Ancol Blok F No. 21
Jalan R.E.
Martadinata, Ancol
North Jakarta
14420
Indonesia
Phones -
(62-021) 6453502, 6453506
Fax. - (62-021) 6456220
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
24 September 2002
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.No.
The Ministry of
Law and Human Rights
No. C-23273
HT.01.01.TH.2002
Dated 26 November
2002
Company Status
National Private Company
Permit by the Government
Department
The Department of Finance
NPWP No. 02.185.955.8-044.000
Affiliated/Associated Company
P.T. CITAS DWIKWARTA (Trading and Importing of Food Additive and Dairy
Products)
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. Sulaiman Tjondro - Rp. 94,000,000.- (75.2%)
Address: Jl. Budi Mulia No. 22
Jakarta Utara
Indonesia
b. Miss Ming Hwa -
Rp. 31,000,000.- (24.8%)
Address: Dusun Air Ruai No. 228
Pembantu Pemali, Bangka
Indonesia
BUSINESS ACTIVITIES
Lines of Business
:
Trading and Distribution of Perfumes and
Fragrance
Production
Capacity :
None
Total Investment :
None
Started Operation :
2003
Brand Name :
ADHITAMA MANDIRI
Technical Assistance :
None
Number of Employee :
20 persons
Marketing Area :
Domestic
(Local) - 100%
Main Customers :
a. Perfume Outlets
and Shops
b. Cosmetic Outlets and Shops
c. Etc.
Market Situation :
Very Competitive
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Gunujng Sahari Branch
Jl. Gunung Sahari Raya No. 45
Jakarta Pusat
Indonesia
b. P.T. Bank INTERNATIONAL INDONESIA Tbk
Gunujng Sahari Branch
Jl. Gunung Sahari Raya No. 45
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Total Sales/Revenue (estimated) :
2008 – Rp. 10.3
billion
2009 – Rp. 11.5
billion
2010 – Rp. 12.8
billion
Net Profit
(estimated) :
2008 – Rp. 560 million
2009 – Rp. 630 million
2010 – Rp. 710 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
Director - Mr. Sulaiman Tjondro
Board of Commissioners :
Commissioner -
Miss Ming Hwa
Signatories :
The Director (Mr. Sulaiman Tjondro)
which must be approved by the Board of
Commissioner (Miss Ming Hwa)
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$ 180,000 on the 90 days of payments
OVERALL PERFORMANCE
P.T. ADHITAMA MANDIRI (P.T. AM) was established on September 24, 2002 with an authorized capital of Rp. 500,000,000.- of which Rp. 125,000,000.- was issued and fully paid up. The founding shareholders of the company are Mr. Sulaiman Tjondro (75.2%) and Miss Ming Hwa (24.8%), both are Indonesian businessman and businesswoman of Chinese extraction. The Articles of Association was made by Lily Harjati Soedewo, SH., a public notary in Jakarta and it was approved by the Ministry of Law and Human Right in its Decision Letter No. C-23273 HT.01.01.TH.2002 dated 26 November 2002. No changes have been effected in term of its shareholding composition and capital structures to date.
Mr. Sulaiman Tjondro
is also the founder and prime mover of PT. CITAS DWIKWARTA, a medium sized
company which engaged in trading and importing of food additive and dairy
products.
P.T. AM has been
operating since 2003 dealing with the trading and distribution of perfume and
fragrance. Ms.
Nana, an administrative staff of PT. AM when contacted said that their main
business is in trading and distribution of PARFEX Perfume and Fragrances. Ms. Nana added
that the products are imported from France. The products are marketed
locally to perfume outlets/shops, cosmetic outlets/shops, cosmetic counters,
supermarkets and others. P.T. AM is classified as a small
sized company of its kind in the country of which the operation has been
growing in the last three years.
Generally the demand for perfume, fragrance and cosmetic products has kept on rising by 10% to 12% per annum in the last five years in line with the sustained growth in life style in Indonesia as well as the improving of population income. The demand growth will go on rising by 10% per annum in the next three years. Market competition is very sharp considering many other similar imported products offering on the local markets. P.T. AM in this case is not doing very badly on account of it has built a fairly close connection with several cosmetic and perfume dealers and shops in Jakarta and its surrounding. We are sure that P.T. AM has high ability to further expand its business in the future.
The company is neither public listed nor bond issued company. Therefore, the company has no obligation to publish financial statement publicly. P.T. AM’s management is very reclusive to outsider and rejecting to disclose its financial condition but we estimated the total sales turnover in 2008 amounted to Rp. 10.3 billion increased to Rp. 11.5 billion in 2009 rose again to Rp. 12.8 billion in 2010 and estimated it will be higher by at least 10% in 2011. The operation in 2010 yielded a net profit at least Rp. 710 million and the company has a total net worth of Rp. 2.0 billion. So far, we have never heard of the company having been black listed by the Central Bank (Bank Indonesia). Besides, the company usually pays its debts punctually to suppliers.
P.T. AM's management is headed by Mr. Sulaiman Tjondro (42) as director, a young businessman with more than 8 years of experience in trading of perfume and fragrance. In day-to-day operations he is assisted by Miss Ming Hwa (34) as commissioner and a number of professional staff, having maintained a wide business relation with private businessmen at home and abroad as well as with government sector. So far, we did not hear that the company’s management involved in the business malpractices or detrimental cases that settled in the country. The company’s litigation record is clean and it has not registered with the black list of Bank of Indonesia. P.T. ADHITAMA MANDIRI is appraised good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.18 |
|
UK Pound |
1 |
Rs.73.65 |
|
Euro |
1 |
Rs.64.95 |
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.