|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PRISEL GIUGA
SINERGI |
|
|
|
|
Registered Office : |
Perum Griya Nusantara, Jalan Transyogi No. A. 05 Nagrag, Gunung Putri
Bogor, 16967, West Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
02.12.2010 |
|
|
|
|
Com. Reg. No.: |
No. AHU-59636.AH.01.01.TH.2010 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading and Distribution of Food Additives |
|
|
|
|
No. of Employees : |
5 persons |
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 : |
Small Company |
|
Payment Behaviour : |
Slow |
|
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. PRISEL GIUGA SINERGI
Head Office
Perum Griya Nusantara
Jalan Transyogi No. A. 05
Nagrag, Gunung Putri
Bogor, 16967
West Java
Indonesia
Phone -
(62-21) 8248 2224
Fax - (62-21) 82482207
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Housing
Complex
Status - Rent
2 December 2010
Legal Form
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of Law and Human Rights
No. AHU-59636.AH.01.01.TH.2010
Dated 22 December 2010
Private National Company
The Department of
Finance
Not Available
Related Company :
None
Capital Structure :
Authorized Capital : Rp.
450,000,000.-
Issued Capital : Rp.
450,000,000.-
Paid up Capital : Rp.
450,000,000.-
Shareholders/Owners :
a. Mr. Khoe Shin
Hwa -
Rp. 405,000,000.-
Address : Kampung
Menceng, RT. 005 RW. 006
Kelurahan Tegal Alur,
Kecamatan Kalideres
Jakarta Barat
Indonesia
b. Mrs. Khoe Suen
Hoa -
Rp. 45,000,000.-
Address : Kampung Menceng, RT. 005 RW. 006
Kelurahan Tegal Alur,
Kecamatan Kalideres
Jakarta Barat
Indonesia
Lines of Business :
Trading and Distribution of Food Additives
Production Capacity :
None
Total Investment :
None
Started Operation :
2011
Brand Name :
Prisel Giuga Sinergi
Technical Assistance :
None
Number of Employee :
5 persons
Marketing Area :
Local - 100%
Main Customer :
Food and Beverages Processing
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ABADIKIMIA INTERNUSA
b. P.T. BRATACO
c. P.T. CHEMIFIN JAYA UTAMA
d. P.T. ROHA LAUTAN PEWARNA
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Raya Transyogi
Km. 3
Perumahan
Kota Wisata
Cibubur, Bogor
West Java
Indonesia
b. P.T.
Bank MANDIRI Tbk
Kota
Wisata Ruko Sentra Eropa Block A No. 6
Perumahan Kota Wisata
Jalan
Tranyogi Km. 6
Cibubur, Bogor
West Java,
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 5.0 billion
Net Profit (estimated) :
2011 – Rp. 0.3 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Khoe Shin Hwa
Board of Commissioners :
Commissioner - Mrs. Khoe Suen Hoa
Signatories :
Director (Mr. Khoe Shin Hwa) which must
be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. PRISEL GIUGA SINERGI (P.T. PGS) was incorporated in Cibubur, Gunung
Putri, Bogor, West Java based on notary deed of Mrs. Viva Prihatina, SH., No.
01 dated 2 December 2010 with the authorized capital of Rp. 450,000,000 wholly
issued and paid up. The founding shareholders of the company are Mr. Khoe Shin
Hwa (90%) and his wife Mrs. Khoe Suen Hoa (10%), both are Indonesian business
family of Chinese descent. Based on our knowledge up to writing the report the
notary documents of the company have not undergone any changes. The company
notary deed was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-59636.AH.01.01.TH.2010 dated December 22, 2010.
P.T. PGS is a private national company operating since 2011 engaged in
the field of trading, import and distribution of food additives. P.T. PGS sells
all type of pigment for foods, sugar boiled confectionery, soft drink, cattle food,
meat, seafood, dairy products & bakery, etc. The types of food additive are flavor,
essence, food colours and others. Food Additive
is a substance / mixture
of ingredients that are naturally
not part of the
raw materials of food, but
added to food to
affect the nature or form of food,
such as dyes, preservatives,
flavors, anti-clot, and thickeners. Food additive is a material that
is not consumed directly as food and not a food raw material, and the
addition to the food is intended to
alter the properties of foods such as shape,
texture, color, flavor,
aroma, to preserve
or to facilitate processing. Mr.
Andree, accounting staff of the company said, after operating since 2011, the
company has imported food additive wholly from India. Then the whole products
supplied to various snack food processing, bakery and bread processing, and
others food industries in Gunung Putri, Bogor, and West Java. P.T. PGS is still
classifiable as a small-size company in the above business in Indonesia and its
business operation has evidently been running smoothly in the last one year.
We note that generally the demand for food chemicals was rising by some
10% - 12% per year in the last five years in line with the growth of food
processing industries as the consumers. But since the end of 2008 the demand
has been falling under the impact of the global economic crisis in the
worldwide. The crisis has badly hurt various industrial sectors, particularly
those relying on imports for their basic materials or feedstock. Moreover, the
intake capacity of chemical consuming industries has been shrinking due to many
food-processing companies having cut down production. On the other hand, the
food chemical business is highly competitive on account of the many companies
with similar activities and selling comparable imported products in the
country. We find the demand for food chemical will be increasing in the next
two years as a result of the improving economic condition in Indonesia. P.T.
PGS is appraised to still have quite good business prospects once the economy
starts recovering.
Until this time P.T. PGS has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of P.T. PGS is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company in the first year operation 2011 amounted to Rp. 5.0 billion and
projected to go on rising by at least 4% in 2012. The operation in 2011 yielded
an estimated net profit of at least Rp. 0.3 billion and the company has an
estimated total networth of at least Rp. 1.0 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. PGS is led by Mr. Khoe Shin Hwa (47) a
businessman and professional manager with experience in trading, import and
distribution of food additives. 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. PRISEL GIUGA SINERGI 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 |
|
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.