|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. TRIMEGAH SEJAHTERA |
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|
|
|
Registered Office : |
Jalan Roa Malaka Utara No. 5-G, Jakarta Barat, 11230 |
|
|
|
|
Country : |
Indonesia |
|
|
|
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Date of Incorporation : |
05.06.1993 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-89924.AH.01.02.TH.2008 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Pigment
Industry |
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|
|
|
No. of Employees : |
51 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
P.T. TRIMEGAH SEJAHTERA
Head Office
Jalan Roa Malaka Utara No. 5-G
Jakarta Barat,
11230
Indonesia
Phones -
(62-21) 6918567, 6918568
Fax - (62-21) 6918486
Building Area - 2 storey
Office Space - 230 sq. meters
Region - Commercial
Building
Status -
Rent
Factory
Jalan Lambaw
Desa Karang Asem Barat
Citeureup, Bogor
West Java
Indonesia
Phones -
(62-21) 8758542 (Hunting)
Fax -
(62-21) 8758541
Land Area - 5,000 sq.
meters
Building Space - 4,000 sq. meters
Region - Industrial
Zone
Status - Owned
5 June 1993
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No.
AHU-89924.AH.01.02.TH.2008
Dated 26 November
2008
Private National
and Domestic Investment (PMDN) Company
The Department of
Finance
NPWP No.
01.603.334.2-033.000
The Department of
Industry and Trade
TDP No.
09.02.1.51.17846
Dated 6 February
2006
The Capital
Investment Coordinating Board
No.
596/I/PMDN/1994
Dated 6 September
1994
P.T. WARJANTINO (Trading,
Distribution and Supply of Dyestuff)
Capital
Structure :
Authorized
Capital : Rp.
2,500,000,000.-
Issued Capital : Rp.
2,500,000,000.-
Paid up Capital : Rp.
2,500,000,000.-
Shareholders/Owners
:
a. Mr. Hendra Atmadja Ongko -
Rp. 1,009,370,000.-
b. Mr. Gautama Julius - Rp. 375,000,000.-
c. Mr. Jasin Tanasaleh -
Rp. 365,625,000.-
d. Mr. Dicky Susanto Ongko -
Rp. 271,880,000.-
e. Mr. Budhi Santoso Tanasaleh -
Rp. 234,375,000.-
f. Mr. Glenn Prasetio -
Rp. 93,750,000.-
g. Mrs. Melania Halim -
Rp. 50,000,000.-
h. Mr. Andrew Tanasaleh -
Rp. 50,000,000.-
i. Mr. Albert Tanasaleh -
Rp. 50,000,000.-
j. Mr. Albert Tanasaleh -
Rp. 50,000,000.-
Lines of
Business :
Pigment Industry
Production
Capacity :
Pigment - 200
tons p.a.
Total
Investment :
a. Equity Capital - Rp. 1.5 billion
b. Loan Capital -
Rp. 1.5 billion
c. Total Investment - Rp. 1.5 billion
Started
Operation :
1995
Brand Name :
Trimegah
Sejahtera
Technical
Assistance :
None
Number of
Employee :
51 persons
Marketing Area
:
Export -
60%
Local - 40%
Main Customer
:
Buyers in Asian
countries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. CAHAYA INDRA
CHEMINDO
b. P.T. CLARIANT
INDONESIA
c. P.T.
FERROCERAMIC COLOR INDONESIA
d. P.T. MONOKEM SURYA
e. Etc.
Business Trend
:
Growing
Banker :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Sukarjo Wiryopranoto
Jakarta
Pusat
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Jalan Gajah Mada
Jakarta
Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 14.0
billion
2010 – Rp. 15.2
billion
2011 – Rp. 16.5
billion
Net Profit
(estimated) :
2009 – Rp. 1.1
billion
2010 – Rp. 1.3
billion
2011 – Rp. 1.5
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Jasin Tanasaleh
Director -
Mr. Hendra Atmadja Ongko
Board of Commissioners :
Commissioner -
Mr. Gautama Julius
Signatories :
President Director (Mr.
Jasin Tanasaleh) or the Director (Mr. Hendra Atmadja Ongko) which must be
approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. TRIMEGAH SEJAHTERA (P.T. TS) was established in Jakarta on June 5, 1993 with an authorized capital of Rp. 1,500,000,000 issued and paid up capital of Rp. 300,000,000. The founding shareholders are Mr. Gautama Julius, Mr. Pitojo Ongko, Mr. Jasin Tanasaleh, Mr. Hendra Atmadja Ongko, Mr. Budhi Santoso Tanasaleh, Mrs. Lindawati Tanasaleh and Mr. Arif Prasetio, they are Chinese origins Indonesian businessmen. The articles of association of the company have frequently been revised. In September 2000, the issued and paid up capital was raised to Rp. 1,500,000,000. The latest in August 2008 the authorized capital was increased to Rp. 2,500,000,000 wholly issued and paid up.
On the same occasion Mrs. Nanny Tanasaleh, Mr. Agus Santoso Tanasaleh, Mrs. Rita Tanasaleh, Mrs. Lindawati Tanasaleh and Mr. Arif Prasetio and Mr. Pitojo Ongko pulled out and replaced by Mr. Dicky Susanto Ongko, Mrs. Melania Halim, Mr. Andrew Tanasaleh, Mr. Albert Tansaleh and Mr. Glenn Prasetio as new shareholders. For further the composition of its shareholders see profile of this report. We have since never heard of any changes having occurred in the capital structures and shareholders composition of the company. The latest revision of company notary deed was made by DR. Misahardi Wilamarta, SH., was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-89924.AH.01.02.TH.2008, dated November 26, 2008. We observe that Mr. Jasin Tanasaleh or Tanasaleh family is the founder and business stakes owner of P.T. WARJANTINO engaged in trading, distribution and supply of dyestuff.
P.T. TS is a Domestic Capital Investment (PMDN) company, engaged in textile pigment processing and wall paint industry since 1995. Its plant is located at Citeureup, Bogor, West Java, on a land of some 5,000 sq, meters. The development has absorbed an investment of Rp. 3.0 billion coming from owned capital of Rp. 1.5 billion and the rest from loans. Mr. Jasin Tanasaleh, President Director of the company said that some 60% of the products are exported to Australia, Malaysia, Singapore, etc. Some 40% of its products marketed locally to various industrial textile, paint and also supply through parent company P.T. WARJANTINO. The products are sold with TRIMEX brand. The operation of P.T. TS has been growing slowly in the last five years in line with the fluctuated production of Textile and Textile Products (TTP) in the last five years.
The domestic demand for various types of chemical products had been
rising by 8% to 10% on the average per annum in the last five years in line
with the rapid growth of various industrial sectors including paint industry,
plastic, ink, textile, rubber, printing and others in the above period of times
as the consumers. But, later dwindled as the global economic slowdown since
October 2008, followed by tight money policy imposed by Indonesian Central Bank
(Bank Indonesia) and also heated by political issue in the country. The demand
growth started to awake in June 2009 in line with the amelioration of economic
condition in the country. Market
competition is very tough on account of large number of other similar companies
operating in the country. P.T. TS business position in this case is not too
badly because it has built regular customers and extensive marketing network
all across the country.
Imports of Raw Materials and Auxiliary Goods, 2004-2010
|
Year |
Food and Beverages Mainly for
Industry (Million US$) |
Raw Materials for Industry (Million US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2004 |
1,456.7 |
568,6 |
2,236.3 |
15,357.8 |
|
|
2005 |
1,325.3 |
830,4 |
2,064.0 |
17,407.0 |
|
|
2006 |
1,352.2 |
909,1 |
2,438.7 |
18,050.7 |
|
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
|
|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
|
|
2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
|
|
2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
|
Source: Central Bureau of Statistic (BPS)
Until this time P.T. TS has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. TS 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. 14.0 billion rose to Rp. 15.2 billion in 2010 increased to Rp. 16.5 billion in 2011 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. 1.5 billion and the company has an estimated total networth of at least Rp. 5.0 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. TS is led by Mr. Jasin Tanasaleh (55), a Master of Economy, graduate of Trisakti University, 1984, Jakarta, with 17 years experience in this business. Mr. Jasin Tanasaleh is also president director of P.T. WARJANTINO. Daily activity he is assisted by Mr. Hendra Atmadja Ongko (59) as director. The company's management is handled by professional staff in the field of pigment industry. 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. TRIMEGAH SEJAHTERA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
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.