MIRA INFORM REPORT
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Report Date : |
09.09.2011 |
IDENTIFICATION DETAILS
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Name : |
P.T. ALASMAS BERKAT UTAMA |
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Registered Office : |
Komplek Pergudangan Cikupa Mas II, Jalan Bhumimas Raya No. 15, Cikupa, Tangerang 15710, Banten Province |
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Country : |
Indonesia |
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Date of Incorporation : |
22.05.2000 |
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Com. Reg. No.: |
No. AHU-26964.AH.01.02.Tahun 2009 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Safety Shoe Manufacturing |
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$ 1,870,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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. ALASMAS BERKAT
UTAMA
company Address
Head Office & Factory
Komplek Pergudangan Cikupa Mas II
Jalan Bhumimas Raya No. 15
Cikupa, Tangerang 15710
Banten Province
Phones - (62-021) 59404361, 59404362
Fax -
(62-021) 59404366
Land Area - 2,600 sq.
meters
Building Space - 2,200 sq. meters
Region - Warehousing
Complex Zone
Status - Rent
Marketing Office
Jalan Cideng Barat
No. 43-A
Jakarta 10150
Indonesia
Phone -
(62-021) 6327060, 6327065
Fax. - (62-021) 63851240, 63851241
Email - berkat@indosat.net.id
Building Area - 3 storey
Office Space - 180 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
22 May 2000
Legal Form
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No.
The Ministry of Law and Human Rights
a. No.
C-20718.HT.01.04.TH.2003
Dated 02 September 2003
b. No. AHU-26964.AH.01.02.Tahun 2009
Dated
18 June 2009
Company Status
National Private Company
Permit by the Government
Department
The Department of Finance
NPWP No. 01.933.520.7-415.000
Affiliated/Associated
Companies :
a. P.T. BERKAT
NIAGA DUNIA (Trading and Distribution of Fire & Safety Equipments)
b. P.T. BERKAT
KESELAMATAN DUNIA (Trading and Distribution of Fire & Safety Equipments)
c. Etc.
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized Capital
- Rp. 5,000,000,000.-
Issued Capital - Rp. 5,000,000,000.-
Paid up Capital - Rp. 5,000,000,000.-
Shareholders/Owners :
a. Mr. Indrawan Hartanu -
Rp 2,375,000,000.- (47.5%)
Address : Jl. Taman Kebon
Jeruk
Blok H2 No. 35
Jakarta Barat
b. Mrs. Safrida Lena -
Rp 2,375,000,000.- (47.5%)
Address : Jl. Taman Kebon
Jeruk
Blok H2 No. 35
Jakarta Barat
c. Mr. Bonifacius Suryadi -
Rp 125,000,000.- ( 2.5%)
Address ; Jl. Bandeng Raya No.
4
Jakarta
Timur
d. Mrs. Lusy Hartanu -
Rp 125,000,000.- ( 2.5%)
Address :
Jl. Taman Kebon Jeruk
Blok 9 IX/3
Jakarta Barat
BUSINESS ACTIVITIES
Lines of Business
:
Safety Shoe Manufacturing
Production
Capacity :
Safety Shoes - 920,000 pairs
p.a.
Total Investment :
a. Equity Capital - Rp.
5.0 billion
b. Loan Capital - Rp.
5.0 billion
c. Total
Investment - Rp. 10.0
billion
Started Operation :
2001
Brand Name :
HOWLER and
KRUSHERS
Technical Assistance :
Australia Footwear Pty., Ltd., of Australia
Number of Employee :
340 persons
Marketing Area :
Domestic - 10%
Export -
90%
Main Customers:
a. Safety Shoes
Retails and Shops in Jakarta and its surrounding
a. Overseas buyers
in Australia, New Zealand, Malaysia, Singapore, Brunei Darussalam, etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. OSHA ASIA
b. P.T. HENGTRACO PROTECSINDO
c. P.T. MITRA GABATA DINAMIKA
d. C.V. GRAND SHOE
INDUSTRY
e. P.T. KING’S
SAFETYWEAR
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank MANDIRI Tbk
Jalan MH. Thamrin No. 5
Jakarta Pusat, Indonesia
b. P.T. Bank
NEGARA INDONESIA Tbk.
Tangerang Branch
Jalan Jend. Sudirman No. 1
Jakarta 12190, Indonesia
c. Hongkong and Shanghai Banking Corp. Ltd.
World Trade Center
Jalan Jend. Sudirman Kav. 29-31
Jakarta Selatan, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2008 – Rp. 96.0 billion
2009 – Rp. 115.0
billion
2010 – Rp. 132.0
billion
2011 – Rp. 76.0 billion (January – June)
Net Profit
(estimated) :
2008 – Rp. 4.8
billion
2009 – Rp. 5.7
billion
2010 – Rp. 6.5
billion
2011 – Rp. 3.7 billion
(January – June)
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of
Management :
President Director - Mr. Bonifacius Suryadi
Director -
Mr. Indrawan Hartanu
Board of Commissioners :
President Commissioner -
Mrs. Safrida Lena
Commissioner - Mrs. Lusy Hartanu
Signatories :
President
Director (Mr. Bonifacius Suryadi) or
Director (Mr. Indrawan Hartanu) which must be approved by Board of Commissioners
(Mrs. Safrida Lena and Mrs. Lusy Hartanu)
CAPABILITIES
Management
Capability :
Good
Business Morality
:
Good
Credit Risk :
Below average
Credit
Recommendation :
Credit should be proceeded normally
Proposed Credit Limit :
Moderate amount
Maximum Credit
Limit :
US$ 1,870,000.- on the 90 days of payments
OVERALL PERFORMANCE
P.T. ALASMAS BERKAT UTAMA (P.T. ABU) was
established in May 2000 with the authorized capital of Rp. 2,000,000,000
entirely issued and paid up. The founding shareholders are Mr. Norman Legana,
Mr. Indrawan Hartanu, his wife Mrs. Safrida Lena, Mr. Bonifacius Suryadi, Mr.
Marta Gunawan and Mr. Mario Susanto, all are Indonesian of Chinese extraction.
The articles of association of the company have frequently been revised. In
December 2001, the authorized capital was raised to Rp. 5,000,000,000 entirely
issued and paid up. In June 2003, Mr. Norman Legana, Mr. Marta Gunawan and Mr.
Mario Susanto withdrew and into the company entered Miss. Lusy Hartanu as a new
shareholder. Since that time, the
shareholders of the company are Mr. Indrawan Hartanu (47.5%), his wife Mrs.
Safrida Lena (47.5%), Mr. Bonifacius Suryadi (2.5%) and Mrs. Lusy Hartanu
(2.5%). The latest deed of amendment was made by Ms. Vestina
Ria kartika, SH., a public notary in Jakarta under Company Registration Number
AHU-26964.AH.01.02.Tahun 2009 dated June 18, 2009. No changes have been effected in term of its
shareholding composition and capital structures to date.
The majority business stakes of P.T. ABU are controlled by Mr. Indrawan Hartanu and his family members. These families are also the majority business stake owner of P.T. BERKAT NIAGA DUNIA and P.T. BERKAT KESELAMATAN DUNIA; both are dealing with trading and distribution of fire & safety equipment.
P.T. ABU has been in operation since 2001 dealing with safety shoes industry. Its plant is located in Cikupa Mas II Warehousing Complex, Jalan Bhumimas Raya No. 15, Cikupa, Tangerang, Banten Province. Mr. Jefri Langi, a marketing staff of the company, said that Now, the plant managed by the company has annual production capacity of 920,000 pairs of safety shoes. A large extent of the basic material is still imported from European and Asian countries. He went on to say that the safety shoes products of the company use HOWLER and KRUSHERS brands, under license and technology of Australia Footwear Pty. Ltd., of Australia. Some 90% of the company products is exported to Australia, New Zealand, Singapore, Malaysia, Brunei Darussalam and the rest of 20% is locally marketed through its sister company P.T.BERKAT NIAGA DUNIA and P.T.BERKAT KESELAMATAN DUNIA. P.T. ABU is classified is a medium-sized of its kind which in the country of which the operation has been growing in the last three years.
Generally, demand for safety shoes has been increasing by 5% to 6% in the last five years in line with the development of various industrial sectors in the country. However, the competition is very tight on account of lots of similar companies dealing with shoe safety manufacturing such as P.T. KING’S SAFETYWEAR INDONESIA, P.T. OSHA ASIA, P.T. HENGTRACO PROTECSINDO, P.T. MITRA GABATA DINAMIKA, C.V. GRAND SHOE INDUSTRY and others.
The business position of P.T. ABU is favorable for having established wide marketing networks within and outside the country. Beside in domestic markets, the safety shoes of the company are also exported to Australia, New Zealand and Asian countries. In local market, the company is backed up by its affiliated company P.T. BERKAT NIAGA DUNIA and P.T. BERKAT KESELAMATAN DUNIA.
The company is neither public listed nor bond issued company. Therefore, the company has no obligation to publish financial statements publicly. We have checked to Department of Trade and Industry and found that no financial statement has been reported. We estimated that total sales turnover of P.T. ABU in 2008 amounted to Rp. 96.0 billion soared to Rp. 115.0 billion in 2009 rose again to Rp. 132.0 billion in 2010 and projected to be rising by at least 12% in 2011. The operation of the company in 2010 is estimated to have gained a net profit of Rp. 6.5 billion with a total networth of Rp. 40.0 billion. So far we have never heard that P.T. ABU has been black listed by Bank Indonesia (central bank) or detrimental cases being settled in local district court. Payment condition for domestic and overseas suppliers is good with the credit payment system of 1 month to 3 months.
The management of
P.T. ABU is led by Mr. Bonifacius Suryadi (68) as president director, with 29
years of experience in safety shoes manufacturing and trading. In his daily activities, he is assisted by
Mr. Indrawan Hartanu (64) as director. The
management is also handled by 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. ALASMAS BERKAT UTAMA
is still appraised to be good for normal business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.46.18 |
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UK Pound |
1 |
Rs.73.65 |
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Euro |
1 |
Rs.64.95 |
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 |
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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 |
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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.