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Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. OMYA INDONESIA |
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Formerly Known As : |
P.T. CAMCO OMYA INDONESIA |
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Registered Office : |
Jalan Raya Km. 20 Surabaya-Mojokerto, Desa Tanjungsari, Trosobo, Sidoarjo 61257, East Java |
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Country : |
Indonesia |
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Date of Incorporation : |
07.05.1992 |
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Com. Reg. No.: |
No.
AHU-1234.AH.01.02.TH.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Calcium Carbonate Industry |
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No. of Employees : |
769 employees |
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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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) |
|
Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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. OMYA INDONESIA
Head Office &
Factory 1
Jalan Raya Km. 20
Surabaya-Mojokerto
Desa Tanjungsari,
Trosobo
Sidoarjo 61257
East Java
Indonesia
Phone -
(62-31) 788 1982 (Hunting 5 lines)
Fax - (62-31) 788 2488
E-mail - info@camcoomya.com
Website - http://www.camcoomya.com
Land Area - 15,000 sq.
meters
Building Space - 7,800 sq. meters
Region - Industrial
Zone
Status - Owned
Factory II
Jalan Paciran Km.
76.3
Desa Kandang, Semangkon,
Paciran
Lamongan, 62264
East Java
Indonesia
Phone -
(62-322) 662 206, 662 2297
Fax - (62-322) 662 2209
Land Area - 107,931 sq.
meters
Building Space - 8,500 sq. meters
Region - Industrial
Zone
Status - Owned
Factory III
Jalan Raya
Daendless Km. 62
Sentul, Lamongan
East Java
Indonesia
Phone -
(62-31) 77550071
Fax - (62-31) 77550071
Land Area - 30,000 sq.
meters
Building Space - 7,500 sq. meters
Region - Industrial
Zone
Status - Owned
a. 7 May 1992 as P.T. COMCO OMYA INDONESIA
b. 4 February 1993 as P.T. CAMCO OMYA INDONESIA
c. 13 November 2002 as P.T. OMYA INDONESIA
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Justice and Human Rights
- No. C2-1658 HT.01.01.TH.93
Dated 16 March 1993
- No. C-22891 HT.01.04.TH.2006
Dated 4 August 2006
- No. AHU-1234.AH.01.02.TH.2009
Dated 13 April 2009
Foreign Investment (PMA) Company
The Department of
Finance
NPWP No. 01.082.835.8-603.000
The President of
the Republic of Indonesia
No. B-97/Pres/4/1992
Dated 16 April 1992
The Capital
Investment Coordinating Board
- No. 95/I/PMA/1992
Dated 1 May 1992
- No. 137/II/PMA/1993
Dated 29 November 1993
- No. 101/III/PMA/1996
Dated 6 February 1996
- No. 246/II/PMA/1996
Dated 19 November 1996
- No. 521/III/PMA/1999
Dated 7 May 1999
Related
Companies :
a. A Member Company of the NIPRESS
Group (see attachment)
b. P.T. UNITED CHEMICAL INTER
ANEKA (Trading and Distribution of Industrial Chemicals)
Capital
Structure :
Authorized Capital :
US$ 46,975,000.-
Issued Capital :
US$ 46,975,000.-
Paid up Capital :
US$ 46,975,000.-
Shareholders/Owners
:
a. OMYA AG of
Switzerland -
US$ 29,829,125.-
Address : Baslestrasse 42
CH-4665,
Oftringer
Swiss
b. P.T.
INDONESIA CAMCOCROWN CHEMICAL
INDUSTRY of
Indonesia -
US$ 11,429,075.-
Address : Jl. Raya Km. 20 Desa Tanjungsari
Trosobo, Sidoarjo
East Java, Indonesia
c. P.T.
INDONESIA KALSIUM KAR
BONATE AGUNG of Indonesia - US$ 5,716,800.-
Address : Jl. Padalarang Km.
17.5
Bandung, West Java
Indonesia
Lines of
Business :
Calcium Carbonate Industry
Production
Capacity :
Calcium Carbonate -
741,800 tons p.a.
Total
Investment :
a. Equity Capital - US$ 46.9 million
b. Loan Capital - US$ 14.6 million
c. Total Investment -
US$ 61.5 million
Started
Operation :
1993
Brand Name :
Omya Indonesia
Technical
Assistance :
OMYA AG of Switzerland
Number of
Employee :
769 persons
Marketing Area
:
Export -
70%
Local - 30%
Main Customer
:
Paper Industry, Paint Industry, Plastic Industry, Rubber Industry
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. BUMI KENCANA MURNI CHEMICAL INDUSTRY
b. P.T. FADJAR ABADI
c. P.T. LEOSUKMA ABADI
d. P.T. SARI UNGGUL BUMI REJO
e. P.T. SUGIH ALAM NUGROHO
Business Trend
:
Growing
Bankers :
a. ABN-AMRO Bank N.V.
Jalan Pemuda No. 54
Surabaya,
East Java
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Jalan Dr. Soetomo No. 142
Surabaya,
East Java
Indonesia
c. P.T. Bank MANDIRI Tbk
Jalan
Basuki Rachmat
Surabaya,
East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2009 – Rp. 500.0 billion
2010 – Rp. 517.0 billion
2011 – Rp. 525.0 billion
Net Profit
(estimated) :
2009 – Rp. 35.0 billion
2010 – Rp. 36.4 billion
2011 – Rp. 38.0 billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Joelistio Robertus Tandiono
Directors - a. Mr. James Hartono Setio
b. Mrs. Juliana Tandiono
c. Mr. Max Andre Schachenmann
d. Mr. Graham William Stone
e. Mr. Nenad Stefan Benko
f. Mr.
John Leslie Coyle
Board of Commissioners :
Commissioner - Mrs. Elizabeth
Signatories :
President Director (Mr. Joelidtio Robertus Tandiono) or one of the
Directors (Mr. James Hartono Setio, Mrs. Juliana Tandiono, Mr. Max Andree
Schachenmann, Mr. Graham William Stone, Mr. Nenad Stefan Benko or Mr. John
Leslie Coyle) which must be approved by Supervisory Board.
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
The company originally named P.T. COMCO OMYA INDONESIA, set-up in May 1992 with an authorized capital of US$ 4,500,000.- entirely issued and paid up. Founders and original shareholders of the company were OMYA AG (ex. PLUESS STAUFER) of Switzerland, P.T. INDONESIA CAMCOCROWN CHEMICAL INDUSTRY and P.T. INDONESIA KALSIUM KARBONAT AGUNG, both are national private company of Indonesia. The articles of association has been changed a couple of times. In February 1993, the company renamed to P.T. CAMCO OMYA INDONESIA. In February 1996, the authorized capital was raised to US$ 33,500,000.- entirely issued and paid up. Then in November 2002, the company renamed to P.T. OMYA INDONESIA (P.T. OI). The deed of amendment was made by Mrs. Evawati Santoso, SH., a public notary in Surabaya, under Company Registration Number C-22891.HT.01.04.TH.2006, dated August 4, 2006. Then according to the latest revision of notary documents of Mrs. Evawati Santoso, SH., No. 06 dated 13 August 2008 the company authorized capital was raised to US$ 46,975,000 wholly issued and paid up. With this development the composition of its shareholders has been changed to become OMYA AG of Swiss (63.50%), P.T. INDONESIAN CAMCOCROWN CHEMICAL INDUSTRY (24.33%) and P.T. INDONESIA KALSIUM KARBONAT AGUNG (12.17%). The latest revision of notary documents was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-12343.AH.01.02.TH.2009 dated April 13, 2009.
Wee see the local partners namely P.T. INDONESIA CAMCOCROWN CHEMICAL INDUSTRY and P.T. INDONESIA KALSIUM KARBONAT AGUNG both are a national private company dealing with investment holding and majority business stakes is controlled by Mr. Joelistion Robertus Tandiono and family members. He is also the founder and majority business stakes of the NIPRESS Group, a small size business group in the country.
P.T. OI obtained a Foreign Investment (PMA) license for dealing with calcium carbonate industry. The company is the biggest producer of calcium carbonate and manages 3 units plant located at Jalan Raya Km. 20 Surabaya-Mojokerto, Sidoarjo, East Java on a land of 15,000 sq. Meters, the second plant located in Jalan Raya Paciran Km. 76.3, Desa Kandang Semangkon, Lamongan, East Java on a land of 112,931 sq. meters land. The above plant had been in operating since 1994 and expanded frequently to increasing production capacity. The plant produces calcium carbonate of 741,800 tons per annum. P.T. OI produces homogeneus quality of calcium carbonate applicable for several industries. Slurry calcium carbonate is used in paper and paint industries, while powdered calcium carbonate is used in paint and plastic industries. About 70% of the products is exported to Singapore, Malaysia, Vietnam, Pakistan, Japan, Australia, Middle East, Africa, Japan, and other Asian countries. While the rest 30% of the products supplied to paper industries such as P.T. PAKERIN, P.T. EKAMAS FORTUNE, P.T. SUPARMA etc, paint industries such as P.T. MIKATASA AGUNG, P.T. MATARAM PAINT, P.T. NIPPON PAINT, P.T. AVIAN-AVIAN, P.T. OXYPLAST INDUSTRY, plastic industries such as P.T. TULUS REJO INDUSTRIES, P.T. KEMAS ELOK PLASTINDO and others industries in Surabaya (East Java), Bandung (West Java), Yogyakarta, Semarang (Central Java), Jakarta, Medan (North Sumatera) and other cities in Indonesia. We see the operation P.T. OI has been had been running and growing well within the last four years.
In overall views we find the demand for calcium carbonate or ground
calcium carbonate had been rising by 6% to 8% per year in the last five years,
in line with the growth of plastic industries, paint industries, paper
industries, rubber industries as consumers. The annual demand for ground
calcium carbonate in Indonesia reaches about 460,000 tons – 770,100 tons year
from the seventh producers. Business position of P.T. OI is quite well for some
70% of the product is exported. See the table below :
Ground Calcium Carbonate producers, and production capacity 2011
|
No. |
Producers |
Production Capacity (Tons/year) |
|
1. 2. 3. 4. 5. 6. 7. |
P.T. BUMI KENCANA CHEMICAL P.T. DWI SELO GIRI RAYA P.T.
OMYA INDONESIA P.T. KAPURINDO SENTRA BAJA P.T.
FINEXCO PRIMA P.T.
UNICHEM CANDO P.T. INKALKO AGUNG MULIA |
40,000 20,000 741,800 90,000 125,000 24,000 36,100 |
|
|
Total |
1,076,100 |
Source: Department of
Industry and processed by ICB
Until this time P.T. OI has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. OI 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. 500.0 billion rose to Rp. 517.0 billion in 2010 increased to Rp. 525.0 billion in 2011 and projected to go on rising by at least 6% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 38.0 billion and the company has an estimated total networth of at least Rp. 410.0 billion. We observe that P.T. OI 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 company usually pays its debts punctually to suppliers.
The management of P.T. OI is led by Mr. Joelistio Robertus
Tandiono (62) with 22 years of experience in the field of ground calcium
carbonate industry and trade. 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. OMYA INDONESIA is sufficiently fairly good for
business transaction.
Attachment:
List of the NIPRESS
Group Members
1.
CAMCO OMYA INVESTAMA, P.T. (Investment Holding)
2.
INDOBATT INDUSTRI PERMAI, P.T. (Car and Motorcycle Battery Manufacturing)
3.
INDONESIA CAMCOCROWN CHEMICAL INDUSTRY P.T. (Investment
Holding)
4.
INDONESIA KALSIUM KABONATE AGUNG, P.T. (Investment Holding)
5.
NIPRESS Tbk., PT. (Car and Motorcycle Battery Manufacturing)
6.
PURI NUSA LESTARI, P.T. (Investment Holding)
7.
OMYA INDONESIA, P.T. (Calcium Carbonate Industry)
8.
TRANSINDO PERMAI, P.T. (Investment Holding)
9.
TRITAN ADHITAMA NUGRAHA, P.T. (Investment Holding), 10. Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.08 |
|
UK Pound |
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.