MIRA INFORM REPORT
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Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
P.T. ARGHA KARYA PRIMA INDUSTRY TBK |
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Formerly Known As : |
P.T. ARGHA
KARYA PRIMA INDUSTRY |
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Registered Office : |
Jalan Pahlawan
Desa Karang Asem Barat, Citeurup, Bogor, West Java |
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Country : |
Indonesia |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
07.03.1979 |
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Com. Reg. No.: |
No. AHU-75410.AH.01.02.TH.2008 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturer of Oriented Polypropylene Film and Poly Vinyl Chloride
Film |
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$ 7,000,000 |
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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 – 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Name of Company
P.T. ARGHA KARYA PRIMA INDUSTRY Tbk
company Address
Head Office & Factory
Jalan Pahlawan
Desa Karang Asem Barat
Citeurup, Bogor
West Java
Indonesia
Phone -
(62-21) 875 2707(Hunting)
Fax - (62-21) 875 2448, 875 2248
E-mail - marketing@arkaprin.co.id
Website - http://www.argakarya.com
Land Area - 20,000 sq.
meters
Factory Space - 12,600 sq. meters
Region - Industrial
Zone
Status - Owned
Representative Office
Kompleks
Pergudangan Margomulyo Permai Block E No. 1
Surabaya
East Java
Indonesia
Phone -
(62-31) 7480-782 (Hunting)
Fax -
(62-31) 7480-782
E-mail - akpisby@telkom.net
Building Area - 1 storey
Office Space - 300 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation
a. 7 March 1979
as P.T. ARGHA KARYA INDUSTRY
b. 19 June 1981
as P.T. ARGHA KARYA PRIMA INDUSTRY
c. 18 December
1996 as P.T. ARGHA KARYA PRIMA INDUSTRY Tbk
Legal Form
P.T. Tbk
(Perseroan Terbatas Terbuka ) or Public Listed Company
Company Reg. No.
The Ministry of
Law and Human Rights
- No. Y.A. 5/406/9
Dated 25 September 1981
- No. AHU-75410.AH.01.02.TH.2008
Dated 20 October 2008
Company Status
Private National
and Domestic Investment (PMDN) Company
Permit by the Government
Department
a. The Capital
Investment Coordinating Board
- No.
154/I/PMDN/1980
Dated 3 November 1980
- No. 30/II/PMDN/1989
Dated 8 March 1989
- No. 124/II/PMDN/1992
Dated 28 September 1992
- No. 30/II/PMDN/1994
Dated 27 January 1994
- No. 219/II/PMDN/995
Dated 31 August 1995
- No. 58/II/PMDN/1997
Dated 1 April 1997
b. The Capital
Market Supervisory Agency
- No. S-854/PM/1992
Dated 16 November 1992
- No. S-220/PM/1994
Dated 7 February
1994
Related Companies
A Member Company
of the NAPAN Group (see attachment)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized Capital :
Rp. 1,000,000,000,000.-
Issued Capital :
Rp. 340,000,000,000.-
Paid up Capital :
Rp. 340,000,000,000.-
Shareholders/Owners
:
a. ASIA
INVESTMENT LIMITED - Rp.
58,873,638,000.-
b. SHENTON
FINANCE CORPORATION - Rp.
57,917,501,000.-
c. P.T. NAWA PANDUTA -
Rp. 46,066,767,000.-
d. HECA
HOLDING LIMITED - Rp.
36,516,067,000.-
e.
INTERNATIONAL CAPITAL LIMITED - Rp.
20,067,503,000.-
f. CHESHAM
HIGH ENTERPRISES LTD. - Rp.
16,900,000,000.-
g. P.T. GITANIRWANA MANDRASAKTI - Rp. 14,346,830,000.-
h. Mr. Irawan
Basuki -
Rp. 1,628,089,000.-
i. Publics -
Rp. 53,807,605,000.-
j. Treasury
stock -
Rp. 33,876,000,000.-
BUSINESS ACTIVITIES
Lines of
Business :
Oriented
Polypropylene Film and Poly Vinyl Chloride Film Manufacturing
Production
Capacity :
a. Plain OPP Film - 23,000 tons
p.a.
b. Coated OPP
Film - 15,300
tons p.a.
c. Laminated OPP
Film - 8,400 tons p.a.
d. PVC Film - 5,000
tons p.a.
e. Trustattle
Plastic Film - 6,000 tons p.a.
f. Polyester Film - 12,000 tons
p.a.
g. BOPP Film - 13,000
tons p.a.
h. CPP Film - 8,000 tons p.a.
i. Film
Metallizing - 3,640 tons p.a.
Total
Investment :
a. Equity Capital - Rp. 132.0
billion
b. Loan Capital - Rp. 350.2
billion
c. Total
Investment - Rp. 482.2 billion
Started
Operation :
1982
Brand Name :
ARLENE, ARETA, ARCYLENE
Technical
Assistance :
BRUECKNER of Germany
Number of
Employee :
826 persons
Marketing Area
:
Domestic - 60%
Export -
40%
Main Customers
:
a. P.T. ARGHA SEALINDO PRIMA INDUSTRY
b. P.T. INTERKEMAS FLEXIPACK
c. P.T. MEGAH JAYA LESTARI
d. P.T. MEGAH JAYA TAAPE LESTARI
e. Other plastic packaging industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. INDOPOLY SWAKARSA INDUSTRY Tbk
b. P.T. POLYDAYAGUNA PERKASA
c. P.T. TRIAS SENTOSA Tbk
d. P.T. TITAN KIMIA NUSANTARA
Tbk
e. Etc.
Business Trend
:
Declining
BANKER, AUDITOR & LITIGATION
Bankers :
a. P.T. Bank CENTRAL ASIA
Tbk
Wisma BCA
Jalan Jend. Sudirman Kav. 22-23
Jakarta Pusat
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Jalan Gajah Mada No. 18
Jakarta Pusat
Indonesia
Auditor :
Purwantono, Suherman & Surja (Ernst & Young)
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Annual Sales :
2008 – Rp. 1,590.8 billion
2009 – Rp. 1,386.2 billion
2010 – Rp. 1,099.4 billion
2011 – Rp. 736.6 billion (as per
30 June)
Net Profit :
2008 – Rp. 68.1 billion
2009 – Rp. 94.6 billion
2010 – Rp. 62.2 billion
2011 – Rp. 60.1 billion (as per 30 June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Wilson Pribadi AKA Liem Oen Djoe
Directors - a. Mr. Jimmy Tjahjanto
b. Mr. Kristianto Mangkusaputra
c. Mr. Edward Djumali
d. Mr. Jeyson Pribadi
Board of Commissioners :
President Commissioner - Mr. Andry Pribadi AKA Liem
Like Mien
Commissioners -
a. Mr. Ibrahim Risjad
b. Mr. Henry Liem AKA Liem Sien Tjay
c. Mr. Surya Widjaja
d. Mr. Johan Paulus Yoranouw
e. Mr. Widjojo Budiarto
Signatories :
President Director (Mr. Wilson Pribadi)
or one of the Directors (Mr. Jimmy Tjahjanto, Mr. Kristianto Mangkusaputra, Mr.
Edward Djumali or Mr. Jeyson Pribadi) which must be approved by supervisory
Board.
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$ 7,000,000 on the 90 days of payments
OVERALL PERFORMANCE
Originally named P.T. ARGHA KARYA INDUSTRY, the company was established in 1979 with an authorized capital of Rp. 4,500,000,000 entirely issued, of which Rp. 450,000,000 was paid up. The founding shareholders of the company are Mr. Wilson Pribadi AKA Liem Oen Djoe, Mr. Henry Pribadi AKA Liem Oen Hauw, Mr. Andry Pribadi AKA Liem Liek Mien, Mr. Ir. Samadio Setia AKA Sih Ing Liong, Mr. Soen Goan Hong, Miss Lanny Suniariwati, Mr. Budi Purnomo AKA Hoo Liem, Mrs. Tina Kurniawati AKA Liem Hi Tin, Mrs. Ida Kumala AKA Kwo King Ling, Miss Sieo Lien, Mr. Hendro Supeno Hadiwirjo AKA Hoo Bing, Mr. Kirno Basuki AKA Kho Kwan Boen (all Indonesian businessmen and businesswomen of Chinese extraction) and Mr. Mulyono, an indigenous businessman. The company's notary deed was since revised a number of times. In 1991 the company's name was changed to P.T. ARGHA KARYA PRIMA INDUSTRY abbreviated to P.T. ARKAPRIN.
In November 1992 P.T. ARKAPRIN went public, selling 20% of its shares to the community through the Indonesian Stock Exchange (BEI). In December 1996 the authorized was raised to Rp. 250,000,000,000 with the issued and paid up capital amounting to Rp. 176,000,000,000. On the same occasion, behind its name has been added with Tbk (Terbuka) word to comply with the law of publicly listed companies. The company’s new full name is P.T. ARGHA KARYA PRIMA INDUSTRY Tbk., abbreviated P.T. ARKAPRIN Tbk. In November 2003 the authorized capital was increased to Rp. 1,000,000,000,000 issued capital to Rp. 340,000,000,000 entirely issued and paid up. The deed of amendment was made by Mr. DR. Irawan Soerojo, SH., M.Si., a public notary in Jakarta under Company Registration Number AHU-75410.AH.01.02.TH.2008, dated October 20, 2008.
P.T. ARKAPRIN is a public listed company in and a members company of the NAWA PANDUTA or NAPAN Group, a developing business group which the majority business stakes is controlled by Mr. Henry Halim. He is also the founder and majority business stakes owner of the NAPAN Group.
P.T. ARKAPRIN has commenced its commercial operation in 1982 engaged in the production and distribution of flexible packaging of Biaxially Oriented Poly Propylene (BOPP) film, Polyester (PET) film, Cast Poly Propylene (CPP) film and Poly Acrylonitrile film and has manufacturing facilities located at Jalan Pahlawan, Desa Karang Asem Barat, Citeureup, Bogor (West Java). Then in July 1992 P.T. ARKAPRIN Tbk., took over all the assets of (was merged with) three sister companies, i.e. P.T. STOREX BIMA RAYA operating in OPP film manufacturing with its plant located beside P.T. ARKAPRIN Tbk's own plant; P.T. APINDO PRIMA KARYA operating a twistable plastic film manufacturing unit also located beside P.T. ARKAPRIN's plant; and P.T. FIMECO PERKASA managing a plastic film converting plant in Tangerang, West Java. In medio 1997 the whole converting plant in Tangerang, West Java, had been sold to P.T. INTERKEMAS FLEXIPACK, a joint ventured company between the SALIM Group and VAW EUROPACK GmbH of Germany. Since then P.T. ARKAPRIN has been concentrating in film production with its plant located at Citeureup, Bogor, West Java. Originally, some 70% of P.T. ARKAPRIN products are marketed domestically but as from the end of 1998, it succeeded to export. P.T. ARKAPRIN export within the last two years reached 60% export by using Arlene, Areta and Arcylene brands.
P.T. ARKAPRIN is one of the leading flexible packaging film manufacturers in Southeast Asia. The company's production facilities have a total installed capacity of 100.000 Ton per annum, producing a variety of packaging film product for industrial uses and consumer goods items, such as cigarettes, food products, paper lamination, adhesive tapes and others. In addition to production facilities in Indonesia, the company also has the production base in Malaysia under Stenta Films (M) Sdn.Bhd., as well as marketing office in Hongkong, International Resources (HK) Ltd. The group (Argha and Stenta) currently offers various kinds of film that are sold under three separate brand names: Arlene, Areta and Arcylene.
P.T. APKAPRIN have two manufacturing facilities in Indonesia and Malaysia that enable us to assure continues supply of diversified product range with consistent high quality and efficiency. P.T. APKAPRIN produce BOPP and BOPET films using a total of eight Bruckner lines of Germany, While CPP film is produced using cast film technology from Reifenhauser of Germany, Besides we utilize two metalizer and one coating machine, enhancing our product range.
The export of P.T. ARKAPRIN is handled by its sister company INTERNATIONAL RESOURCES (H.K) LTD., in Hong Kong for Asia marketing area likes Malaysia, Vietnam, Pakistan, Srilanka, Bangladesh, China and South Korea. At present, P.T. ARKAPRIN has about 400 customers consisting 230 local customers and 170 overseas customers. As aforementioned that the subsidiary has been marketing the products of P.T. ARKAPRIN for North American South American and West European markets. Besides, P.T. ARKAPRIN also engaged in investment holding by control 98% shares of INTERNATIONAL RESOURCES (HK) Ltd., founded in Hong Kong, handling the products for Hong Kong, Taiwan and P.R. China markets. P.T. APKAPRIN controls 22.95% shares of STENTA FILMS (M) Sdn. Bhd., domiciled in Malaysia and engaged in BOPP film industry. Today, with the support of their worldwide marketing networks, the company have positioned theirselves as a reliable producer in the overseas markets. The group (Argha and Stenta) exported more than 50% of our total production volume is exported to 35 countries around the world. We observe the operation of P.T. ARKAPRIN has been declining in the last three years.
In overall views we find the demand for BOPP film had been rising by 8% to 10% per year in the last five years, in line with the growth of plastic container industries as consumers. The annual demand for BOPP film in Indonesia reaches about 140,000 tons – 150,000 tons, or above the average supply of only about 120,000 tons/year from the five producers. So, local producers still have opportunity to provide additional supply of 30,000 tons/year for the local market. Business position of P.T. ARKAPRIN remains good for some of the products are absorbed by flexible plastic container industries in the INDOFOOD Group and others. See the table below :
BOPP film producers,
locations and production capacity 2010
|
No. |
Producers |
Locations |
Production Capacity (Tons/year) |
|
1. 2. 3. 4. 5. |
P.T. TRIAS SENTOSA Tbk P.T. ARGHA KARYA PRIMA NDUSTRY Tbk P.T. TITAN KIMIA NUSANTARA Tbk P.T. INDOPOLY SWAKARSA INDUSTRY Tbk P.T. POLYDAYAGUNA PERKASA |
Sidoarjo Bogor Tangerang Karawang Semarang |
40,000 36,000 20,000 20,000 7,000 |
|
T o t a l |
123,000 |
||
Source: Department of Industry and Trade
According to financial statement of P.T. ARKAPRIN which audited by Purwantono, Suherman & Surja (Ernst & Young) that sales turnover in 2008 amounted at Rp. 1,590.8 billion with a net profit of Rp. 68.1 billion, decrease at Rp. 1,386.2 billion with a net profit of Rp. 94.6 billion in 2009 dropt to Rp. 1,099.4 billion with a net profit of Rp. 62.2 billion in 2010. As per 30 June 2011 the sales turnover has reached at Rp. 736.6 billion with a net profit of Rp. 60.1 billion and projected to go on rising by at least 5% in 2011. 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 financial statement as per 31 December 2008, 2009, 2010 and per 30 June 2011 is attached below.
P.T. ARKAPRIN's management is led by Mr. Wilson Pribadi AKA Liem Oen Djoe (61). He is one of top figures and prime movers of the NAPAN Group, a large sized national private company grouping the country. In his daily activities, he is assisted by Mr. Kristianto Mangkusaputra, Mr. Edward Djumali and Mr. Jimmy Tjahjanto, and Mr. Jeyson Pribadi respectively as director. P.T. ARKAPRIN has an experienced management made up of professional managers with know-how in the OPP film and plastic packaging industry and trade. They are widely connected with government sectors and private businessmen at home and abroad. 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. ARGHA KARYA PRIMA INDUSTRY Tbk is sufficiently fairly good for business transaction.
Attachment 1:
FINANCIAL STATEMENT OF P.T. ARGHA KARYA PRIMA
INDUSTRY Tbk
Per
31 December 2008, 2009, 2010 and 30 June 2011
A. BALANCE SHEETS
STATEMENT
(in Rp million)
|
D e s c r i p t i
o n |
30 June |
31 December |
||
|
2011 |
2010 |
2009 |
2008 |
|
|
A. Current
Assets |
|
|
|
|
|
- Cash and Cash Equivalent |
68,906 |
68,906 |
253,908 |
228,479 |
|
- Trade Receivable |
|
|
|
|
|
* Third Parties |
255,018 |
165,771 |
192,945 |
257,376 |
|
* Related Parties |
94 |
159 |
65 |
30 |
|
- Other Receivable |
2,464 |
128 |
1,316 |
3,925 |
|
- Inventories |
341,899 |
215,518 |
204,683 |
204,333 |
|
- Prepaid Expenses |
6,471 |
1,047 |
8,713 |
1,624 |
|
- Advance |
10,086 |
13,135 |
51,305 |
3,823 |
|
- Prepaid Taxes |
35,823 |
19,174 |
183 |
112 |
|
Total Current Assets |
717,813 |
501,822 |
781,674 |
746,667 |
|
B. Non Current
Assets |
|
|
|
|
|
- Investment in associated
companies |
93,624 |
95,067 |
- |
- |
|
- Fixed Assets – net |
733,871 |
698,017 |
748,562 |
829,146 |
|
- Note Receivable |
- |
- |
- |
- |
|
- Goodwill |
- |
- |
32,932 |
42,248 |
|
- Deferred Charges (net) |
- |
- |
12,883 |
21,859 |
|
- Guarantee Deposits |
3,264 |
2,992 |
11,585 |
4,309 |
|
Total Non Current Assets |
830,760 |
796,077 |
805,962 |
897,563 |
|
TOTAL ASSETS = TOTAL LIABILITY &
STOCKHOLDERS’ EQUITY |
1,548,574 |
1,297,898 |
1,587,636 |
1,644,230 |
|
C. Current
Liabilities |
|
|
|
|
|
- Short Term Liabilities |
234,669 |
90,420 |
81,799 |
64,173 |
|
- Trade Account Payable |
|
|
|
|
|
* Third Parties |
164,904 |
101,222 |
116,355 |
71,670 |
|
* Related Parties |
234 |
473 |
146 |
63,709 |
|
- Other Payables |
7,264 |
7,035 |
11,349 |
7,955 |
|
- Current Maturity of long term Loan |
46,981 |
70,797 |
273,565 |
281,740 |
|
- Tax Liabilities |
803 |
2,134 |
6,182 |
21,469 |
|
- Accrued Expenses |
14,392 |
8,072 |
31,054 |
33,411 |
|
Total Current Liabilities |
469,247 |
280,154 |
521,006 |
544,712 |
|
D. Non Current
Liabilities |
|
|
|
|
|
- Long term borrowings |
271,948 |
271,498 |
114,311 |
186,536 |
|
- Deferred Tax Assets |
41,772 |
39,336 |
103,720 |
107,137 |
|
- Allowance Employee
Payables |
17,959 |
17,959 |
16,696 |
19,221 |
|
- Other Long Term
Liabilities |
- |
- |
742 |
1,543 |
|
Total Non Current
Liabilities |
331,680 |
328,793 |
235,470 |
314,438 |
|
E. Minority
Interest |
- |
- |
55,571 |
52,852 |
|
F. Stockholders’
Equity |
|
|
|
|
|
- Paid up Capital |
340,000 |
340,000 |
340,000 |
340,000 |
|
- Additional Paid up
Capital |
303,829 |
303,829 |
303,829 |
303,829 |
|
- Treasury stock |
(79,567) |
(79,567) |
- |
- |
|
- Translation Adjustment |
18,624 |
19,994 |
31,773 |
55,804 |
|
- Retained Earnings
(deficit) |
164,760 |
104,695 |
99,986 |
32,594 |
|
Total Stockholders’ Equity |
746,646 |
688,951 |
775,589 |
732,227 |
B. PROFIT &
LOSS STATEMENT
(in Rp million)
|
D e s c r I p t I
o n |
30 June |
31 December |
||
|
2011 |
2010 |
2009 |
2008 |
|
|
INCOME STATEMENT |
|
|
|
|
|
a. Net Sales |
736,637 |
1,099,386 |
1,386,209 |
1,590,795 |
|
b. Cost of Goods Sold |
(616,603) |
(891,082) |
(1,057,674) |
(1,324,691) |
|
c. Gross Profit |
120,035 |
208,304 |
328,535 |
266,104 |
|
e. Operating Expenses |
(44,505) |
(111,977) |
(139,196) |
(118,244) |
|
f. Operating Profit |
75,530 |
96,327 |
189,339 |
147,860 |
|
g. Other Income (Expenses) |
(6,544) |
(6,512) |
(41,007) |
(54,739) |
|
h. Operating Profit Before Income Tax |
82,074 |
89,815 |
148,332 |
93,121 |
|
i. Income Tax |
(22,009) |
(27,386) |
(43,559) |
(25,765) |
|
j. Profit before Minority
Interest |
60,065 |
62,429 |
104,772 |
67,356 |
|
k. Minority Interest |
- |
(196) |
(10,180) |
755 |
|
i. Net Profit |
60,065 |
62,233 |
94,593 |
68,112 |
Remarks: As per 31
December 2008, 2009, 2010 Audited by Purwatono, Suherman & Surja
(Ernst & Young)
As per 30 June 2011 unaudited
Attachment 2:
List of the N A P A
N Group Members
1.
ACRINDONUSA FIBRE PRATAMA, P.T. (Acrylic Fibre
Manufacturing)
2.
ADHIKARA SANDIKA, P.T. (Rubber Thread Manufacturing)
3.
ADIKARSA RAYAPRIMA, P.T. (Trading and Suppliers)
4.
ADIKRIDA PRIMALESTARI, P.T. (Trading and Suppliers)
5.
AMCOL HOLDING (S) PTE. LTD., Singapore (Investment Holding)
6.
ANDALAN PRIMULA, P.T.
(Investment Holding)
7.
ANDROMEDA Bank, P.T.
(Banking)
8.
ANDROMEDA SECURITIES, P.T. (Securities Services)
9.
ARCOM PRIMANTARA SYSTEMS, P.T. (Agency and Distribution of
Computers and Peripherals)
10.
ARGA INDAH PRATAMA, P.T. (Housing Development)
11.
ARGA MOLEK KENCANA, P.T. (Real Estate Development)
12.
ARGHA KARYA PRIMA INDUSTRY Tbk., P.T. (Oriented
Polypropylene Film Manufacturing)
13.
ARGHA SEALINDOPRIMA INDUSTRY, P.T. (Automotive Seal
Manufacturing)
14.
ASIAN CONRAD HOLDING Ltd., British Virgin Island (Investment
Holding)
15.
ASTENIA, P.T. (Investment Holding)
16.
BAHANAJAYA ADISAKTI, P.T. (General Contracting, Trading and
Transportation Service)
17.
BATAVIA CITY REALTY, P.T. (Properties Development and
Management)
18.
BHASKARA DUNIAJAYA, P.T. (Investment Holding)
19.
BHUMANDALA AGUNG, P.T. (Investment Holding)
20.
BINA TAMBAK LESTARI, P.T. (Shrimp Culture)
21.
BRANTA MULIA Tbk., P.T. (Nylon Tyre Cord Manufacturing)
22.
BRANTA MULIA MALAYSIA, Malaysia (Nylon Tyre Cord
Manufacturing)
23.
BRANTA MULIA TEIJIN INDONESIA, P.T. (Nylon Filament Yarns
Manufacturing)
24.
BUMI LESTARI ABADI, P.T. (Housing Development)
25.
CATERISON SUKSES, P.T. (Country Club Management)
26.
CENTRALINDO PANCASAKTI, P.T. (Cellular Telephone Operator
and Investment Holding)
27.
CHANDRA ASRI, P.T. (Olefine Centre)
28.
CITRA MARGA NUSAPHALA PERSADA, P.T. (Toll Road Management)
29. DERMAGA PERKASA PRATAMA, P.T. (Coal Terminal
Management)
30.
DJATI YUDHA CELLULAR, P.T. (Telecommunication Development)
31.
DUABANU INTERNUSA, P.T. (Granite Mining and Processing)
32.
DUTA NUSABINA LESTARI, P.T. (Property Management)
33.
DUTA PERKASA UNGGULESTARI, P.T. (Real Estate Management)
34. ELANGMAS PERKASA SEJATI, P.T. (Industrial Estate
Management)
35.
FOREVERGREEN INTERNATIONAL, P.T. (International Restaurant)
36.
GITANIRWANA MANDRASAKTI, P.T. (Investment Holding)
37.
HARTINDO CHEMICATAMA INDUSTRI, P.T. (Chemicals for Fire
Extinguisher Manufacturing)
38.
INDOALUM INTIKARSA INDUSTRY, P.T. (Aluminum Sheet and Foil
Industry)
39.
INDOCITRA GRAHABAWANA, P.T. (Property Management and
Development)
40.
INDOFIRST NUSANTARA SYNTHETIC RUBBER, P.T. (Styrene
Butadiene Rubber Industry)
41.
INDOPOLY SWAKARSA INDUSTRY, P.T. (BOPP Film Manufacturing)
42.
INTERNATIONAL RESOURCES CORPORATION, USA, (Trading)
43.
INTERNATIONAL REOURCES (HK) LTD., Hongkong, (Trading)
44.
INTINUSA SELAREKSA, P.T. (Integrated Natural Granite
Processor)
45.
JANGGALA PRIMA, P.T. (Trading and Suppliers)
46.
JAPAN TRAVEL BUREAU INDONESIA, P.T. (Travel Agency)
47.
KARYA YUDHA SAKTI, P.T. (Housing Development)
48.
KEMAYORANLAND Corporation, P.T. (Property Management)
49.
KUNINGAN PROPERTAMA, P.T. (Property Development and
Management)
50.
LAYANG KENCANA PRIMA, P.T. (Trading and Supplier)
51.
LONDON SUMATRA INDONESIA, P.T. Perusahaan Perkebunan
(Integrated Cocoa, Palm Oil, Coffee, Tea and Rubber Plantation and Investment
Holding)
52.
MATAHARI LINTAS CAKRAWALA, P.T. (Direct Broadcasting
Satellite Television Services)
53.
MAG INDONESIA CITRA, P.T. (Sub Assy and Electronic Component
Manufacturing)
54.
MEGACITY DEVELOPMENT CORPORATION, P.T. (Apartment Developer
Management)
55.
MEGARIMBA KARYATAMA, P.T. (Woodbased Processing)
56.
MEGATAMA RAYA, P.T. (Consulting)
57.
METRO SELLULAR NUSANTARA, P.T. (Telecommunication
Development)
58.
MULTI BATURA UTAMA, P.T. (General Trading, Exporters,
Suppliers and Distributors)
59.
MULTI GRANITINDO UTAMA, P.T. (Granite Mining and Processing)
60.
MULTI HARAPAN UTAMA,
P.T. (Trading)
61.
MULTI MEDIA NUSANTARA, P.T. (Pay TV Cable and Multimedia
Provider)
62.
MURNICIPTA SENTOSA, P.T. (Investment Holding)
63.
NALCO PERKASA, P.T. (Industrial Chemical Formulation)
64.
NAWA PANDUTA, P.T. (General Trading and Investment Holding)
65.
NISSHOKU TRIPOLYTA ACRYLINDO, P.T. (Acrylic Acid and Acrylic
Ester Industry)
66.
NUGRAHABUANA BUMINUSA, P.T. (Granite Mining and Processing)
67.
NUSATEL YUDHA BHAKTI, P.T. (Telecommunication Contracting)
68.
PAN LONDON SUMATRA PLANTATION, P.T. (Investment Holding)
69. PANCA PURI PERKASA INDAH, P.T. (Industrial Estate
Management)
70.
PERKASA STERILINDO, P.T. (Sterilization Service)
71.
PETRA NADA KENCANA, P.T. (Graphite Electrodes Manufacturing)
72.
POLYPRIMA KARYAREKSA, P.T. (Purified Terephthalic Acid (PTA)
Processing)
73.
PRISMATAMA NUGRAHA, P.T. (Trading and Suppliers)
74.
POLYPET KARYAPERSADA, P.T. (Polyethylene Therephtalate
Industry)
75.
PRAJA PURI INDAH, P.T. (Shopping Centre and Industrial
Estate Development)
76.
PRIMA INTERLOKASI, P.T. (Trading and Suppliers)
77.
PRIMA CITRA ELOK, P.T. (Trading and Suppliers)
78.
PRIMANUSA INDONESIA, P.T. (Investment Holding)
79.
PUTRAMITA LUHURSEJATI, P.T. (Investment Holding)
80.
RAYAPRIMA LESTARI, P.T. (Trading and Suppliers)
81.
REXFORD PRATAMA, P.T. (Trading, Supplier and Distributor)
82.
RIAUALAM ANUGERAH INDONESIA, P.T. (Granite Mining and
Processing)
83.
SAHAMAS ARTANUSA, P.T. (Stock Exchange Brokerage Services)
84.
SARILEMBAH TIRTA HIJAU, P.T. (Luxury Apartment Management)
85. SAROTAMA PRIMA PERKASA, P.T. (Tourism Industry)
86.
SAYAPNUSA PRIMA, P.T. (Trading and Suppliers)
87.
SEMESTAKIMIA RAYA, P.T. (Trading of Industrial Chemicals)
88.
SINAR BENUAPRIMA, P.T. (Coal Mining and Destillation)
89.
STENTA FILMS (Malaysia) Sdn., Bdh., (BOPP Film
Manufacturing)
90.
SURYA CITRA TELEVISI, P.T. (Commercial Television
Broadcasting Services)
91.
SURYANUSA PERKASA, P.T. (Hotelry and Recreation Centre
Management)
92.
SWASTHI PARAMA MULYA, P.T. (Rubber Thread Manufacturing)
93.
THAI BRANTA MULIA CO., LTD., Thailand (Nylon Tyre Cord
Manufacturing)
94.
TRANSINDO PUTRA
PERKASA, P.T. (Land Transportation)
95.
TRI POLYTA INDONESIA , P.T. (Polypropylene Industry)
96.
WIRASWASTA GEMILANG INDONESIA, P.T. (Used Lubricating Oil
Refinery)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.10 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
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.