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Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. BINTANG SAUDARA SEMESTA JAYA |
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Registered Office : |
Jalan Asia No. 212 A-B, Medan, 20214, North Sumatera |
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Country : |
Indonesia |
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Date of Incorporation : |
27.04.2000 |
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Com. Reg. No.: |
No. AHU-08098.AH.01.02.TH.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import, Distribution and Supply of Dental
Equipment and Jewellery Products |
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No. of Employees : |
27 |
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) |
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Indonesia |
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. BINTANG SAUDARA SEMESTA JAYA
Head Office
Jalan Asia No. 212 A-B
Phones - (62-61) 7357 888, 736 5932
Fax - (62-61) 7363 565
E-mail - info@gmail.com
Website - http://www.bintangsaudara.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Branch Office
Jalan P. Jayakarta
129 Block A/II-12
Mangga Dua
Selatan, Sawah Besar
Jakarta Pusat, 10730
Phones - (62-21) 624 4872, 625 9111
Fax - (62-21) 624 4872
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
27 April 2000
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No.
C-3004.HT.01.01.TH.2001
Dated 22 March 2001
- No.
AHU-08098.AH.01.02.TH.2011
Dated 17 February
2011
Private National Company
The Department of
Finance
NPWP No. 01.974.829.2-113.000
None
Capital Structure :
Authorized Capital :
Rp. 1,000,000,000.-
Issued Capital :
Rp. 600,000,000.-
Paid up Capital :
Rp. 600,000,000.-
Shareholders/Owners :
a. Mrs. Yenny Margaretta -
Rp. 300,000,000.-
Address : Jl. Asia No. 212-B
Kelurahan Sei
Rengas 1, Kecamatan Medan
Area, Medan, North Sumatera
Indonesia
b. Mr. Gunawan Halim -
Rp. 300,000,000.-
Address : Jl. Asia No. 212-B
Kelurahan Sei
Rengas 1, Kecamatan Medan
Area,
Lines of Business :
Trading, Import, Distribution and Supply of Dental Equipment
and Jewellery Products
Production Capacity :
None
Total Investment :
None
Started Operation :
May 2000
Brand Name :
Bintang Saudara Semesta Jaya
Technical Assistance :
None
Number of Employee :
27 persons
Marketing Area :
Local - 100%
Main Customer :
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ANDINI SARANA
b. P.T. COBRA
DENTAL INDONESIA
c. P.T. GRHA
PRIMA DENTA
d. P.T. SUKSES
RAGAM JAYA
e. Etc.
Business Trend :
Growing
Banker :
P.T. Bank MANDIRI Tbk
Jalan Imam Bonjol No. 7
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2009 – Rp. 18.0 billion
2010 – Rp. 19.7 billion
2011 – Rp. 21.5 billion
Net Profit (estimated) :
2009 – Rp. 1.1 billion
2010 – Rp. 1.2 billion
2011 – Rp. 1.4 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Yenny Margaretta
Board of Commissioners :
Commissioner - Mr. Gunawan
Halim
Signatories :
Director (Mrs. Yenny Margaretta) which must be approved by
Board of Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. BINTANG SAUDARA SEMESTA JAYA (P.T. BSSJ) was set-up in
P.T. BSSJ has been in operation since May 2000 dealing with trading, import, supply and distribution of dental equipment and jewellery products. Mrs. Yenni Margaretha, the director of the company, said that her company is a distributor of various dental equipment brands including Amdent, RF System Lab, Planmeca, Carlo de Giorgi, ClassOne, CMS Dental, Dentamerica, OFL, FKG Dentaire, Digital Hailli, Hard-Dent, Heraeus, Hohler, Osada Electric Co Ltd, Nobel Biocare, Silfradent, Produits Dentaires, Saeshin, Dispotech, Nissin, MK-dent, Join Champ, Runyes, Polydentia, Promedica and others. The products are imported from various European countries, the USA, Japan, China and others.
The jewellery products are Legor, Water Flame, Yasui, Indutherm, Foredom, KerrLab, Otec, Elma, Silbo, Cavallin, EVE, Osada, Saeshin, and other products which are imported from Germany, France, Spain, Sweden, United Kingdom, the USA, and Asian countries. The merchandise products are supplied to private and public hospitals, health clinics and others in Medan, Jakarta and surroundings. We observe P.T. BSSJ is classified as a medium sized company of its kind in the country of which the operation has been growing in the last three years.
Generally, demand for laboratory
and medical equipment and various pharmaceutical products had been growing in
the last five years up to the end 2007 as pictured in sales value of national
pharmaceutical products, import value and export value issued by the Food and
Drug Controlling Board (BPOM). The national pharmaceutical sales, export and
import value of products are estimated to be rising by 6% to 8% in the next
year. The competition is very tight on account many similar companies operating
in the country. The business position of P.T. BSPSJ is a sufficiently fairly
good because the company has captive market namely the state-owned hospital and
private hospital in the country. According the BPOM that national
pharmaceutical sales as shown are as the following table.
National Market Trend of Drugs,
2001-2010 (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 |
12.850 15.483 17.458 20.872 23.629 23.173 25.600 29.981 33.965 37.531 |
7.891 9.618 10.829 12.706 14.675 13.834 13.959 16.969 19.225 21,142 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 3,213 3.420 3.610 |
Source: Food and Drug Controlling
Board (BPOM)
Until this time P.T. BSSJ has not been registered with
Indonesian Stock Exchange, so that they shall not obliged to announce their financial
statement. The management of P.T. BSSJ 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.
18.0 billion rose to Rp. 19.7 billion in 2010 increased to Rp. 21.5 billion in
2011 and projected to go on rising by at least 4% in 2012. The operation in
2011 has gained an estimated net profit of at least Rp. 1.4 billion and the
company has an estimated total networth of at least Rp. 3.0 billion. So far, we
did not heard that the company having been black listed by the Central Bank
(Bank
The management of P.T. BSSJ is led by Mrs. Yenny Margaretta
(51) a businesswoman and professional manager with experience in trading,
import and distribution of dental equipment and jewellery 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. BINTANG SAUDARA SEMESTA JAYA is sufficiently fairly good for business
transaction.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This
could be the biggest credibility crisis the Indian diamond industry has ever
faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen
diamond firms in Surat. Until about two months ago, they had not repaid
these dues. Bankers believe many diamantaires borrowed money during the
economic downturn two years ago and diverted funds to businesses like real
estate and capital markets. Many of themselves made money from these businesses
but their diamond companies have gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share market.
The banks are not in a position to seize their properties because in many
cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.17 |
|
UK Pound |
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.27 |
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 |
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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 |
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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.