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Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. BERKAT INDAH
GEMILANG |
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Registered Office : |
Jalan Manis Raya No. 10, Kawasan Industri Manis, Desa Kadu, Kecamatan Curug, Tangerang, 15136, Banten Province |
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Country : |
Indonesia |
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Date of Incorporation : |
June, 2004 |
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Com. Reg. No.: |
No. AHU-01767.AH.01.02.TH.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wheat Flour Mills |
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No. of Employees : |
120 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
P.T. BERKAT INDAH GEMILANG
Head Office &
Factory
Jalan Manis Raya No. 10
Kawasan Industri Manis
Desa Kadu, Kecamatan Curug
Tangerang, 15136
Banten Province
Indonesia
Phones -
(62-21) 5916611, 5918933
Fax - (62-21) 5916611
Land Area - 10,000 sq.
meters
Building Space - 8,000 sq. meters
Region - Industrial
Estate
Status - Owned
Brach Office
Jalan Salemba Tengah No. 60
Jakarta Pusat, 10440
Indonesia
Phones -
(62-21) 3907188 (Hunting)
Fax - (62-21) 3152884, 3152885
E-mail - jasinggih2@telkom.net
Website - http://www.jakarta-sereal.com
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
June 2004
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of Law and Human Rights
- No. W8-02621
HT.01.04.TH.2007
Dated 6 September 2007
- No.
AHU-01767.AH.01.02.TH.2009
Dated 9 January 2009
Company Status
Private National Company
The Department of
Finance
NPWP No. 02.479.649.2-415.000
Related Companies
a. P.T. INDOSNACK CEMERLANG
(Food Processing)
b. P.T. JAKARTA SEREAL
(Trading, Importing, Exporting and Distribution of Agricultural
Commodities
Products)
Capital Structure :
Authorized Capital : Rp.
10,000,000,000.-
Issued Capital :
Rp. 2,500,000,000.-
Paid up Capital : Rp. 2,500,000,000.-
Shareholders/Owners :
a. Mr. Bambang
Soemardi -
Rp. 1,500,000,000.-
Address : Jl.
Jalak Barat No. 22, RT. 007 RW. 004
Kelurahan Pekauman, Kecamatan Tegal Barat
Tegal, Central Java
Indonesia
b. Mr. Singgih Sutanto -
Rp. 1,000,000,000.-
Address : Jl. Terusan Hang Lekir II/W. 22
Kelurahan Grogol Selatan,
Kecamatan Keba
yoran lama, Jakarta Selatan
Indonesia
Lines of Business :
Wheat Flour Mills
Production Capacity :
Wheat Flours - 43,000 ton p.a.
Total Investment :
a. Equity Capital - Rp. 10.0 billion
b. Loan Capital - Rp. 36.7 billion
c. Total Investment - Rp. 46.7 billion
Started Operation :
2009
Brand Name :
Berkat Indah Gemilang
Technical Assistance :
None
Number of Employee :
120 persons
Marketing Area :
Local - 100%
Main Customer :
Food Processing Industry and Distributors
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ASIA RAYA
b. P.T. CERESTAR FLOUR MILLS
c. P.T. EASTERN PEARL FLOUR MILLS
d. P.T. PUNDI KENCANA
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA
Tbk
Jalan Matraman Raya No. 43
Jakarta
Timur
Indonesia
b. P.T. Bank MANDIRI Tbk
Jalan Matraman Raya No. 25
Jakarta
Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2009 – Rp. 96.5 billion
2010 – Rp. 106.0 billion
2011 – Rp. 116.0 billion
Net Profit (estimated) :
2009 – Rp. 5.6 billion
2010 – Rp. 7.0 billion
2011 – Rp. 9.3 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Singgih Sutanto
Director - Mr. Wiyanto Soemardi
Board of Commissioners :
Commissioner - Mr. Bambang Soemardi
Signatories :
President Director (Mr. Singgih Sutanto)
or the Director (Mr. Bambang Soemardi) which must be approved by Board of
Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. BERKAT INDAH GEMILANG (P.T. BIG) was incorporated in Tangerang,
Banten Province in June 2004 with the authorized capital of Rp. 900,000,000
issued capital of Rp. 450,000,000 entirely paid up. The company was founded by
Mr. Bambang Soemardi and Mr. Singgih Sutanto, both are Indonesian businessmen
of Chinese origins. The company notary deed has been changed a couple of times
and according to the revision of notary deed in September 2007 the company
authorized capital was increased to Rp. 10,000,000,000 issued capital to Rp.
2,050,000,000 entirely paid up. Then according to the latest revision of notary
documents of Mr. Drs. Wijanto Suwongso, SH., No. 57 dated 28 November 2008 the
company issued capital was raised to Rp. 2,500,000,000 fully and paid up. With
this development the composition of its shareholders has been changed to become
Mr. Bambang Soemardi (60%) and Mr. Singgih Sutanto (40%). The latest revision
of notary documents was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-01767.AH.01.02.TH.2009 dated January 9, 2009.
We observe that Mr. Singgih Sutanto is also founder and business stakes
owners of P.T. P.T. INDOSNACK CEMERLANG dealing with food processing and P.T.
JAKARTA SEREAL engaged in
trading, import, export and distribution of agricultural commodities.
P.T. BIG is one of the producers of wheat flour mills which operating
since 2009 by manages a plants located at Jalan Manis Raya No. 10, Kawasan
Industri Manis, Desa Kadu, Kecamatan Curug, Tangerang, Banten Province on a
land of 10,000 sq. meters. The construction of the plant was begun in 2005 and
completed in the end of 2008. The wheat seed imported from Australia, Canada
and the USA. The plant has commercial production by the early 2009 by produces
of wheat flours of 43,000 tons per year. The construction of the wheat flour
plant has absorbed an investment of Rp. 46.7 billion come from owned capital of
Rp. 10.0 billion while the rest is loans. P.T. BIG is one of the flour mills in
Indonesia which produce wheat flour with 2 brands in the market among others
are Mustafa and Swordfish brands. However, currently the company produces of
wheat flour with using ATLAS, SWORDFISH and SWORDMAN brands which wholly
marketed locally. Previously the company re-packed wheat flour with size 5 KG
to 25 KG and supplied to GIANT supermarket. However the re-packed of wheat
flour has been discontinued because the production is not in accordance with SNI
standard. The whole products product marketed locally to various food and
instant noodles manufacturing and the rest is also distributed through
distributors of wheat flour in the country. Besides, some of the products
supplied to various snack food industries, bakery and bread processing, and
other snack food industries in Tangerang, Banten, West Java, Central Java and
Sumatera. We observe the operation of P.T. BIG has been growing and running
well in the last three years.
We note that generally the domestic demand for wheat flour has kept on
increasing in the last five years. The increasing demand was in keeping with
the development and growth of domestic industries processing food materials
like instant noodles, bread, biscuit, etc. from wheat flour as the main raw
material. However since 2008, the wheat flour industries have facing problem
because there is lot of cheap wheat flour imports marketed in the country
especially from Turkey. Indonesian Flour Producers Association (APTINDO) has
accused flour importers of intervening with the Government to avoid imposition
of antidumping duties against flour from Turkey. Cheap flour imported from
Turkey continued to flood the Indonesian market has brought bad impact to the
Indonesian producer of wheat flour industries.
Besides that, competition is very sharp in the wheat flour trade with 8
companies now operating in this industry in Indonesia, namely P.T. INDOFOOD
SUKSES MAKMUR BOGASARI FLUR MILLS Tbk., P.T. PANGANMAS INTI PERSADA, P.T.
SRIBOGA RATURAYA, P.T. BERKAT INDAH GEMILANG, P.T. CARESTA FLOUR MILLS, P.T.
FEDERAL FLOUR MILLS, P.T. FUGUI FLOUR & GRAIN INDONESIA, P.T. EASTERN FLOUR
MILLS. See further table below for development of Indonesian wheat grain and
wheat flour imports.
The Growth of
Capacity, Production of
Wheat Flour Mills
in Indonesia
|
Year |
Production (Million Ton) |
|
2006 |
4.2 |
|
2007 |
4.8 |
|
2008 |
4.8 |
|
2009 |
5.7 |
|
2010* |
5.8 |
Source: Aptindo (Indonesian Flour Producer Association)
*) Projected
Until this time P.T. BIG has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of P.T. BIG 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. 96.5 billion rose to Rp. 106.0 billion in 2010
increased to Rp. 116.6 billion in 2011 and projected to go on rising by at
least 5% in 2012. The operation in 2011 yielded an estimated net profit of at
least Rp. 9.3 billion and the company has an estimated total networth of at
least Rp. 40.0 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. BIG is led by Mr. Singgih Sutanto (42) a
businessman and professional manager with experience in wheat flour mills.
Daily activity he is assisted by Mr. Bambang Soemardi (60) as Director. 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. BERKAT INDAH GEMILANG is sufficiently fairly
good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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.