MIRA INFORM REPORT

 

 

Report Date :           

20.09.2011

 

IDENTIFICATION DETAILS

 

Name :

P.T. TRI DINAMIKA NUSANTARA

 

 

Registered Office :

Jalan Gading Kirana Timur Block A 10 No. 3, Kelapa Gading Barat, Jakarta Utara, 14240

 

 

Country :

Indonesia

 

 

Date of Incorporation :

18.08.2004

 

 

Com. Reg. No.:

No. AHU-09638.AH.01.02.TH.2010

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading, Import and Distribution of Animal Health and Equipment for both Poultry and Swine

 

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$ 65,700

 

 

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. TRI DINAMIKA NUSANTARA

 

 

company Address

 

Head Office

Jalan Gading Kirana Timur Block A 10 No. 3

Kelapa Gading Barat

Jakarta Utara, 14240

Indonesia

Phones             - (62-21) 45844841 (Hunting)

Fax                   - (62-21) 45844641

Building Area     - 2 storey

Office Space      - 100 sq. meters

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation

 

18 August 2004

 

                                  

Legal Form

 

P.T. (Perseroan Terbatas) or Limited Liability Company

 

 

Company Reg. No.

 

The Ministry of Law and Human Rights

- No. C-27780 HT.01.01.TH.2004

  Dated 5 November 2004

- No. AHU-09638.AH.01.02.TH.2010

  Dated 23 February 2010

 

 

Company Status

 

Private National Company

 

Permit by the Government Department

 

The Department of Finance

NPWP No. 02.387.919.0-043.000

 

The Department of Industry and Trade

TDP No. 09.01.1.51.19066

Dated 11 December 2006

 

 

Related Company

 

None

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                            : Rp. 500,000,000.-

Issued Capital                                  : Rp. 355,000,000.-

Paid up Capital                                : Rp. 355,000,000.-

 

Shareholders/Owners :

a. Mrs. Hajjah Rasti                                                - Rp. 351,450,000.-

    Address : Jl. Gading Kirana I Block I No. 43

                    RT. 002 RW. 006, Kel. Tugu Selatan

                    Kec. Koja, Jakarta Utara

                    Indonesia

b. Mrs. Casnirah                                                     - Rp.     3,550,000.-

    Address : Kp. Argasoka RT. 03 RW. 03, Kel.

                    Sukamaju, Kec. Cibingbin, Kuningan

                    Central Java

                    Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading, Import and Distribution of Animal Health and Equipment for both Poultry and Swine

 

Production Capacity :

None

 

Total Investment :

None

Started Operation :

2005

 

Brand Name :

Tri Dinamika Nusantara

 

Technical Assistance :

None

 

Number of Employee :

7 persons                                       

 

Marketing Area :

Local    - 100%

 

Main Customer :

Animal Feed Milling Industries

 

Market Situation :

Very Competitive

 

Main Competitors :

a. P.T. ADHINUSA LESTARI

b. P.T. HOGINDO FEEDMILL

c. P.T. SANDIKA AGROWIRATAMA

d. P.T. SURI TANI PEMUKA

e. Etc.

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

P.T. Bank MANDIRI Tbk

Jalan Gading Kirana Block A 13 No. 35

Kelapa Gading Barat

Jakarta Utara

Indonesia

 

Auditor :

Internal Auditor

           

Litigation :

No litigation record in our database

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2008 – Rp. 4.0 billion

2009 – Rp. 4.5 billion

2010 – Rp. 5.0 billion

2011 – Rp. 2.8 billion (January – June)

 

Net Profit (estimated) :

2008 – Rp. 240 million

2009 – Rp. 270 million

2010 – Rp. 300 million

2011 – Rp. 168 million (January – June)

           

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

Director                                           - Mrs. Hajjah Rasti

                                                                                                           

Board of Commissioners :

Commissioner                                 - Mrs. Casnirah

                                                                                                           

Signatories :

Director (Mrs. Hajjah Rasti) which must be approved by Board of Commissioner

 

 

CAPABILITIES

 

Management Capability :

Satisfactory

 

Business Morality :

Satisfactory

 

Credit Risk :

Average

 

Credit Recommendation :

Credit should be proceeded with monitor

Proposed Credit Limit :

Small amount – periodical review

 

Maximum Credit Limit :

US$ 65,700 on 90 days D/A

 

 

OVERALL PERFORMANCE

 

P.T. TRI DINAMIKA NUSANTARA (P.T. TDN) was incorporated in Jakarta on August 18, 2004 with the authorized capital of Rp. 500,000,000 issued capital of Rp. 125,000,000 entirely paid up. The founding shareholders of the company originally are Mr. Hari Wirjanto, Mrs. Hajjah Rasti and Mr. Ir. Ignatius Harnanto Hidayat, they all indigenous businessmen. The company notary documents had been changed and the latest in June 2009 the issued capital was increased to Rp. 355,000,000 entirely paid up. On the same occasion, Mr. Hari Wirjanto and Mr. Ir. Ignatius Harnanto Hidayat pulled out and the whole shares sold to Mrs. Casnirah as new shareholder. With this time the composition of its shareholders has been changed to become Mrs. Hajjah Rasti (99%) and Mrs. Casnirah (1%). The deed of amendments was made by Mrs. Esther Agustina Ferdinandus, SH., a public notary in Jakarta and was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-09638.AH.01.02.TH.2010 dated February 23, 2010.  

 

P.T. TDN started to be operating since 2005 to deal with trading, import, distribution of animal health products including equipment for both poultry and swine. The whole product is imported from various countries such as USA, France, Belgium, Jordan, China and India. Mrs. Hajjah Rasti, director of the company disclosed the animal health imported with various brands such as MOBEDCO VET of Jordan, OLMIX of France, NUTREX of Belgium, PORTACHECK INC and PROBYN both of the USA and also OLMIX of China, etc. The merchandise products are sold among animal feed industries in the country including P.T. CHAROEN POKPHAN INDONESIA, P.T. JAPFA COMFEED INDONESIA, P.T. SIERAD PRODUCES Tbk, P.T. WONOKOYO JAYA FEEDMILL. P.T. SINTA PRIMA FEEDMILL, P.T. MABARFEED, P.T. INDOJAYA AGRINUSA, P.T. CHEIL JEDANG SUPERFEED and others in Jakarta, Surabaya and surroundings. We observe the operation of P.T. TDN has been growing in the last five years.

 

In overall we find the demand for animal medicines, animal feed like broiler feed and other animal feed had been rising in 2008, in line with a relative better animal husbandry sector. The demand for meat, egg has also tended to rise in line with a better economic condition in the country. The rising demand for livestock products in 2009 had increased animal husbandry business both big livestock like goat, sheep, cow and poultry like chicken, broiler, duck, etc. Among the above livestock, poultry business is the most growing very fast. It has made the growing of animal feed business and pushed up the demand of animal feed basic materials like corn, soybean meal, fish meal, etc.

 

Until this time P.T. TDN has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. TDN is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in 2008 amounted to Rp. 4.0 billion rose to Rp. 4.5 billion in 2009 increased to Rp. 5.0 billion in 2010. As from January to June 2011 the sales turnover was amounted at Rp. 2.8 billion with a net profit of Rp. 168 million. It is projected the sales turnover will higher by at least 5% in 2012. The company has an estimated total networth of at least Rp. 0.5 billion. 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 management of P.T. TDN is led by Mrs. Hajjah Rasti (46) a businesswoman and professional manager with experience in trading, import and distribution of animal health products. The company's management is handled by professional staff in the above business. They have wide relations with private businessmen within and outside the country. 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. TRI DINAMIKA NUSANTARA is sufficiently fairly good for business transaction.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.79

UK Pound

1

Rs.75.06

Euro

1

Rs.65.35

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.