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Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. EAGLEBURGMANN |
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Formerly Known As : |
P.T. BURGMANN |
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Registered Office : |
Jalan Jababeka Block J6-E Kawasan Industri Jababeka Cikarang Bekasi 17550 |
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Country : |
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Date of Incorporation : |
20.03.1996 |
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Com. Reg. No.: |
No. AHU-60709.AH.01.02.TH.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Mechanical Seals Manufacturing |
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No. of Employees : |
109 persons |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 513,000 |
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Status : |
Moderate |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
P.T.
EAGLEBURGMANN
Head Office
Jalan Jababeka
Block J6-E
Kawasan Industri
Jababeka Cikarang
Bekasi 17550
Phones -
(62-21) 8935313 (Hunting)
Fax - (62-21) 8935315
E-mail - info@id.eagleburgmann.com
- soebagio.soegiharto@id-eagleburgmann.com
Website - http://www.eagleburgmann.se
Land Area - 12,000 sq.
meters
Building Area - 9,230 sq. meters
Region - Industrial
Estate
Status - Owned
Date of Incorporation :
a. 20 March 1996
as P.T. BURGMANN
b. 28 July 2008
as P.T. EAGLEBURGMANN INDONESIA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C2-1501.HT.01.01.TH.97
Dated 4 March 1997
- No. AHU-54198.AH.01.02.TH.2008
Dated 22 August 2008
- No. AHU-60709.AH.01.02.TH.2011
Dated 9 December 2011
Company Status
:
Foreign
Investment (PMA) Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.071.477.2-055.000
The Capital Investment Coordinating Board
- No.
692/I/PMA/1995
Dated 13 December 1995
- No.
223/II/PMA/2004
Dated 13 December 2004
- No.
101/II/PMA/2006
Dated 16 December 2006
The Department of Industry
No.
201/T/Industri/1997
Dated 12 May 1997
Related
Company :
EBI ASIA PACIFIC
PTE, LTD., Singapore (Investment Holding)
Capital
Structure :
Authorized
Capital : US$
889,380.-
Issued Capital : US$
889,380.-
Paid up Capital : US$ 889,380.-
Shareholders/Owners
:
a. EBI ASIA PACIFIC PTE., LTD. - US$ 888,579.-
Address :
29 International Business Park
Acer Building
Singapore
b. Mr. Soebagio Soegiharto - US$ 801.-
Address : Taman Villa Meruya Block BI/12
Jakarta
Barat
Indonesia
Lines of
Business:
Mechanical Seals
Manufacturing
Production
Capacity :
a. Mechanical Seals -
25,000 pieces p.a.
b. Gas Lubricated Mechanical Seals -
800 pieces p.a.
c. Stuffing Box Packing -
250 pieces p.a.
d. Magnetic Couplings - 250 pieces p.a.
e. Expansion Joint -
900 pieces p.a.
f. Pre-Cut Gasket - 120,000 pieces p.a.
g. Packing Rings - 30,000 pieces p.a.
Total
Investment :
a. Equity Capital - US$ 0.9 million
b. Loan
Capital -
US$ 0.8 million
c. Total Investment - US$ 1.7 million
Started
Operation :
1997
Brand Name :
EAGLEBURGMANN
Technical
Assistance :
FEODOR BURGMANN
Industries GmbH & Co., of Germany
Number of
Employee :
109 persons
Marketing Area
:
Local - 100%
Main Customers
:
Industrial
manufacturing, automotive, contracting, oil and gas etc.,
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. EAGLE
INDUSTRY INDONESIA
b. P.T. PAKINDO
SEAL
c. P.T. SEAL JET
INDONESIA
d. P.T. TRI GRAHA SEASILINDO
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan
Jend. Sudirman Kav. 22-23
Jakarta Pusat
Indonesia
b. DEUTSCHE Bank
AG
Wisma Deutsche Bank
Jalan Imam Bonjol 80
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 33.4
billion
2010 – Rp. 37.0
billion
2011 – Rp. 39.0
billion
Net Profit
(estimated) :
2009 – Rp. 3.2
billion
2010 – Rp. 3.5
billion
2011 – Rp. 4.0
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Soebagio Soegiharto
Director -
Mr. Mamoru Yokota
Board of Commissioners :
President Commissioner -
Mr. Yasunari Unemura
Commissioner -
Mr. Foo Yin Yee
Signatories :
President Director (Mr.
Soebagio Soegaiharto) or the Director (Mr. Mamoru Yokota) which must be
approved by Board of Commissioner
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
Maximum Credit Limit :
US$ 513,000 on 90
days D/A
Initially the
company named P.T. BURGMANN INDONESIA, it was established in Jakarta on 20
March 1996 with an issued capital of US$ 729,000 wholly issued fully and paid
up. The founding shareholders of the company originally were EUROCAM TECHNOLOGY
SDN BHD of Malaysia and Mr. Song Soon Hee of Malaysia. The company notarial
deed had been changed a couple of times. In October 2004 the authorized capital
was raised to US$ 889,380 entirely issued and paid up. On the same occasion,
EUROCAM TECHNOLOGY SDN BHD., of Malaysia pulled out and the whole shares sold
to BURGMAN INDUSTRIES GmbH & Co., KG of Germany as new shareholder. Then in
July 2008 BURGMANN INDUSTRIES GmbH & Co., KG of Germany and Mr. Song Soon
Hee pulled out and the whole shares sold to EBI ASIA PACIFIC PTE., LTD., of
Singapore and Mr. Soebagio Soegiharto as new shareholder. On the same occasion
the company was changed to P.T. EAGLEBURGMANN INDONESIA (P.T. EBI).
The company’s
latest shareholders are EBI ASIA PACIFIC PTE., LTD., (99.92%) and Mr. Soebagio
Soegiharto (0.08%). The deed of amendment was made by Mr. Refizal, SH., was
approved by the Ministry of Law and Human Right in its Decision Letter No.
AHU-54198.AH.01.02.TH.2008, dated August 22, 2008. Then according to the latest
revision of notary documents of Mr. Refrizal, SH., No. 22 dated 14 November
2011 the board of directors and the board of commissioners reappointed to lead
and runs of the company’s operation. The latest revision of notary documents
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-60709.AH.01.02.TH.2011 dated December 9, 2011.
P.T. EBI
acquired a Foreign Investment (PMA) facility for dealing with the manufacturing
of mechanical seals. Its plant located at Jalan Jababeka Block J6-E, Kawasan
Industri Jababeka Cikarang, Bekasi, West Java over 12,000 sq. meters wide land.
The plant has started with operation in 1997 and had expanding frequently to
increasing production capacity. The company offers production of mechanical
seals, accessories; installation, commissioning, overhaul and repair of
mechanical seals and supply systems; warehouse comprehensively stocked with
complete seal systems and spare parts; technical support and training courses.
The plant produces Mechanical Seals of 25,000 pieces, Gas Lubricated Mechanical
Seals of 800 pieces, Stuffing Box Packing of 250 pieces, Magnetic Couplings of
250 pieces, Expansion Joint of 900 pieces, Pre-Cut Gasket of 120,000 pieces and
Packing Rings of 30,000 pieces respectively per annum. The construction of the
plant has absorbed an investment of US$ 1.7 million come from owned capital of
US$ 0.9 million and the rest from loans. The manufacturing of the above
products is fully using FEODOR BURGMANN Industries GmbH & Co., KG
technology of Germany.
A highly motivated
team, a range of well selected excellent products and their customer-oriented
service form the basis for the success for the cooperation with the customers.
P.T. EBI always welcome the opportunity to demonstrate their capabilities in
the provision of giving technical and commercial advice about design, selection
and recommendation of seals itself, their application or in the after-sales
service. The whole of its products is marketed locally through dealers and
distributors spreading in Indonesia. Besides, the products supplied to oil and
gas industries, petrochemical industries, automotive and machinery,
construction, marine and aircraft and others. P.T. EBI has also become the
first seal manufacturer in Indonesia certified to ISO 9001 since April 16,
2000. We observed that P.T. EBI is still classified as a medium-size company of
its kind in Indonesia and its business has been growing slowly within the last
two years.
We observed that
the demand for insulation materials, mechanical seals and mechanical gasket has
kept on rising in the last five years in line with the rapid growth of various
industrial sectors as the consumers, but later declined in October 2008 as the
impact of global economic crisis. As from that time on, the demand growth
started to pick-up again in line with the amelioration of economic condition.
It is estimated that the demand growth will continue on fluctuating within the
next two or three years. In the meantime, we realized that market competition
is very tough on account of many other similar companies operating in the
country to date. P.T. EBI's current business position is considered to be still
quite good for it has succeeded to develop a fairly wide range of marketing
network in the country.
Until this time
P.T. EBI has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T.
EBI 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. 33.4 billion rose to Rp. 37.0 billion in 2010 increased to Rp.
39.0 billion in 2011 and projected to go on rising by at least 5% in 2012. Its
projected the company’s operation in 2011 has yielded a net profit of Rp. 4.0
billion with an estimated total net worth at least Rp. 35.0 billion. We observe
that P.T. EBI is supported by foreign partner with has financially strong and
sound behind it. So far, we did not heard that the company having been black listed
by the Central Bank (Bank Indonesia).
The management
of P.T. EBI is led by Mr. Soebagio Soegiharto (51) a businessman and
professional manager with experience in mechanical seals manufacturing and
trade. Daily activities he is assisted by Mr. Mamoru Yokota (58) a professional
manager of Japan as a director. The management is handled by experienced staff
in this business, having maintained a wide business relation with private
businessmen at home and abroad as well as with government sectors. 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. We are convinced P.T. EAGLEBURGMANN INDONESIA is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
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|
1 |
Rs.81.94 |
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Euro |
1 |
Rs.67.65 |
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 |
|
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 |
-- |
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.