MIRA INFORM REPORT

 

 

Report Date :           

09.04.2012

 

IDENTIFICATION DETAILS

 

Name :

P.T. TRIMITRA WIRA BERSAMA

 

 

Registered Office :

Jalan Kran Raya No. 11, Gunung Sahari Selatan, Kemayoran, Jakarta Pusat, 10610

 

 

Country :

Indonesia

 

 

Year of Establishment :

2008

 

 

Com. Reg. No.:

No. AHU-45430.AH.01.02.TH.2008

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

General Trading and Supplier Chemical

 

 

No. of Employees :

05

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

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, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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. TRIMITRA WIRA BERSAMA

 

 

company Address

 

Register Office

Jalan Kran Raya No. 11

Gunung Sahari Selatan, Kemayoran

Jakarta Pusat, 10610

Indonesia

Phone               - (62-21) 7062 9696 Flexi

Fax                   - (62-21) None

E-mail               - harijano@gmail.com

Building Area     - 2 storey

Office Space      - 100 sq. meters

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation

 

2008

 

 

Legal Form

 

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

 

 

Company Reg. No.

 

The Ministry of Law and Human Rights

No. AHU-45430.AH.01.02.TH.2008

Dated 28 July 2008

 

 

Company Status

 

Private National Company

 

Permit by the Government Department

 

The Department of Finance

NPWP No. 02.245.098.5-003.000

 

 

Related Company

 

None

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                            : Rp. 5,000,000,000.-

Issued Capital                                  : Rp. 1,250,000,000.-

Paid up Capital                                : Rp. 1,250,000,000.-

 

Shareholders/Owners :

 

a. Mr. NN Erlin Wijaya                                                      - Rp. 625,000,000.-

    Address : Duta Harapan Indah Q/25

                    Kelurahan Kapuk Muara, Kecamatan Pen

                    jaringan, Jakarta Utara

                    Indonesia

b. Mrs. Endrati                                                                  - Rp. 375,000,000.- 

    Address : Jl. Kyai Abdul Wahab

                    Kelurahan Duri Kosambi, Kecamatan Cengkareng

                    Jakarta Barat

                    Indonesia

c. Mr. Harijano Halim                                                       - Rp. 250,000,000.- 

    Address : Jl. Agung Permai XI/3

                    Kelurahan Sunter, Kecamatan Tanjung Priok

                    Jakarta Utara

                    Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

General Trading and Supplier Chemical

 

Production Capacity :

None

 

Total Investment :

None

Started Operation :

2008

 

Brand Name :

Trimitra Wira Bersama

 

Technical Assistance :

None

 

Number of Employee :

5 persons                                       

 

Marketing Area :                           

Local    - 100%

 

Main Customer :

Brake System Industry

 

Market Situation :                         

Growing Slowly

 

Main Competitors :

a.   P.T. ASIA TALENTA MANDIRI

b.   P.T. BOROBUDUR AGUN PERKASA 

c.   P.T. LARIS CHANDRA

d.   Etc.

 

Business Trend :

Growing slowly

 

 

BANKER, AUDITOR & LITIGATION

 

Banker :

P.T. Bank MANDIRI Tbk

Jalan Raya Gunung Sahari

Jakarta Pusat

Indonesia

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2009 – Rp. 2.8 billion

2010 – Rp. 3.5 billion

2011 – Rp. 4.5 billion

 

Net Profit (estimated) :

2009 – Rp. 0.2 billion

2010 – Rp. 0.3 billion

2011 – Rp. 0.4 billion

 

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

President Director                            - Mr. Harijano Halim

Director                                           - Mrs. Endrati

 

Board of Commissioners :

Commissioner                                 - Mr. NN Erlin Wijaya

 

Signatories :

President Director (Mr. Harijano Halim) or the Director (Mrs. Endrati) which must be approved by Board of Commissioner

 

 

CAPABILITIES

 

Management Capability :

Satisfactory

 

Business Morality :

Satisfactory

 

Credit Risk :

Above Average

 

Credit Recommendation :

Credit should be extended under guarantee

 

Proposed Credit Limit :

C.O.D. To small amount

 

Maximum Credit Limit :

No Comment

 

 

OVERALL PERFORMANCE

 

The correct name of the Subject is P.T. TRIMITRA WIRA BERSAMA not P.T. TRIMITRA WIRA BERSANA as stated in your order Ref. No. 174772 dated 26 March 2012. Besides, according to the company notary deed P.T. TRIMITRA WIRA BERSAMA is registered on Jalan Kran Raya No. 11, Gunung Sahari Selatan, Kemayoran, Central Jakarta. However after we contacted frequently there was no holding the telephone. Besides, we also found P.T. GEMA SURYA PRATAMA ABADI engaged in trading distribution of electrical equipment.

 

P.T. TRIMITRA WIRA BERSAMA was established in Jakarta in 2008 by Mr. NN Erlin Wijaya, Mrs. Endrati and Mr. Harijano Halim, they are Indonesian businessmen of Chinese descent. According to the latest revision of notary documents of Mrs. Martina, SH., No. 3 dated 11 July 2008 the company authorized capital was amounted at Rp. 5,000,000,000 issued capital at Rp. 1,250,000,000 entirely paid up. With this time the composition of its shareholders are Mr. NN Erlin Wijaya (50%), Mrs. Endrati (30%) and Mr. Harijano Halim (20%).

 

The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-45430.AH.01.02.TH.2008 dated July 28, 2008.  

 

Based on information from various reliable sources that P.T. TWB engaged in general trading and supply. In its operation the company sells of various merchandise goods including plastic molding products for motorcycle, fuel oil scrap for automotive, helmet, friction dust black mesh rubber crumbs for brake industry. The whole products supplied to a number of automotive component manufacturing. Meanwhile plastic molding products is obtained from C.V. MAJU USAHA BERSAMA (plastic injection molding and plastic palletizing manufacturing). However according information from Mr. Harijano Halim, President Director of P.T. TWB through flexi mobile phone (62-21) 7062 9696 explained the company now sells of chemical for brake system namely Polyalklene Glycol Ether (PAG), Ethylene Glycol Monoethylene Ether and other additives is imports from India, China, Brazil and USA with various types. Then the whole products supplied to various brake fluids processing and lubricating oils industries in the country. We observe that P.T. TWB is a small size company of its kinds in the country which operation has been growing slowly in the last three years.

 

The domestic demand for various types of chemical products had been rising by 8% to 10% on the average per annum in the last five years in line with the rapid growth of various industrial sectors including paint industry, plastic, ink, textile, rubber, printing and others in the above period of times as the consumers. But, later dwindled as the global economic slowdown since October 2008, followed by tight money policy imposed by Indonesian Central Bank (Bank Indonesia) and also heated by political issue in the country. The demand growth started to awake in June 2009 in line with the amelioration of economic condition in the country.  Market competition is very tough on account of large number of other similar companies operating in the country.


Imports of Raw Materials and Auxiliary Goods, 2004-2010

 

Year

Food and Beverages Mainly for Industry (Million US$)

Raw Materials for Industry

(Million US$)

Primary

Processed

Primary

Processed

2004

1,456.7

568,6

2,236.3

15,357.8

 

2005

1,325.3

830,4

2,064.0

17,407.0

 

2006

1,352.2

909,1

2,438.7

18,050.7

 

2007

2,079.1

1,537.1

2,827.4

21,759.1

 

2008

3,244.5

1,271.6

4,722.3

40,312.9

 

2009

2,640.9

1,582.0

2,901.7

29,248.7

 

2010

3,074.8

2,165.9

4,539.5

41,714.3

 

                       Source: Central Bureau of Statistic (BPS)

 

Until this time P.T. TWB has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. TWB is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in 2009 amounted to Rp. 2.8 billion rose to Rp. 3.5 billion in 2010 increased to Rp. 4.5 billion in 2011 and projected to go on rising by at least 3% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 0.4 billion and the company has an estimated total net worth of at least Rp. 1.2 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.  

 

Based to the company notary deed, the management of P.T. TWB is led by Mr. Harjano Halim (43) as president director, Mrs. Endrati (41) as Director and Mr. NN Erlin Wijaya (37) as commissioner. The management will eventually be handled by professional managers having wide relation with overseas and national private businessmen as well as with the government sectors. In view of P.T. TRIMITRA WIRA BERSAMA is not clearly and just correspondence office, we recommend that a high degree of prudence be observed in business transactions and adequate collateral from its shareholders be acquired in extending a new loan to the company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.05

UK Pound

1

Rs.81.09

Euro

1

Rs.67.39

 

 

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.