|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. AMELIA METAL |
|
|
|
|
Registered Office : |
Dusun Karang
Bangkal, Karang Rejo, Gempol, Pasuruan, 67155 , East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
03.09.2003 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-93317.AH.01.02.TH.2008 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Electronic and
Electric Household Appliances Manufacturing |
|
|
|
|
No. of Employees : |
175 |
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. AMELIA METAL
Head Office &
Factory
Dusun Karang
Bangkal
Karang Rejo,
Gempol
Pasuruan, 67155
East Java
Indonesia
Phones -
(62-343) 659624-27
Fax - (62-343) 659629
E-mail - amelia.metal@yahoo.com
Land Area - 7,000 sq.
meters
Office Space - 4,000 sq.
meters
Region - Industrial
Zone
Status - Rent
3 September 2003
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No. C-29112 HT.01.01.TH.2003
Dated 15 December 2003
- No. AHU-93317.AH.01.02.TH.2008
Dated 3 December 2008
Foreign Investment (PMA) Company
The Department of
Finance
NPWP No.
02.313.397.8-651.000
The Department of
Industry and Trade
TDP No.
132612800503
Dated 12 March 2003
The Capital
Investment Coordinating Board
No.
32/35/I/PMA/2003
Dated 2 September
2003
None
Capital
Structure :
Authorized
Capital : US$
302,000.-
Issued Capital : US$
302,000.-
Paid up Capital : US$ 302,000.-
Shareholders/Owners
:
a. Mr. Huang,
Shih-Hui -
US$ 151,000.-
Address : No. 2, Lane 174 Mingder
Road
Peitou, Taipei
Taiwan, PRC
b. Mr. Huang, Kuan-Ju -
US$ 151,000.-
Address :
No. 2, Lane 174 Mingder Road
Peitou, Taipei
Taiwan, PRC
Lines of
Business :
Electronic and
Electric Household Appliances Manufacturing
Production
Capacity :
a. Gas Stoves (Gas Table) - 250,000 unit p.a.
b. Rice Cookers -
300,000 unit p.a.
Total
Investment :
a. Equity Capital - US$ 302,000.-
b. Loan Capital -
US$ 250,000.-
c. Total Investment - US$ 552,000.-
Started
Operation :
2004
Brand Name :
Amelia Metal
Technical
Assistance :
None
Number of
Employee :
175 persons
Marketing Area
:
Export -
80%
Local - 20%
Main Customer
:
Buyers in Taiwan,
Hong Kong and Asian countries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. HITACHI
MODERN SALES INDONESIA
b. P.T. MASPION
c. P.T. RINNAI
INDONESIA
d. P.T. SANKEN
ARGADWIJA
e. P.T. WINN
APPLIANCE
Business Trend
:
Growing
Banker :
a. P.T. Bank
CENTRAL ASIA Tbk
Pasuruan Main Branch
East Java
Indonesia
b. Hongkong and Shanghai Banking Corp. Ltd.
Surabaya Main Branch
East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 24.7
billion
2010 – Rp. 25.8 billion
2011 – Rp. 27.5
billion
Net Profit
(estimated) :
2009 – Rp. 1.9
billion
2010 – Rp. 2.3
billion
2011 – Rp. 2.5
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Huang, Shih-Hui
Director -
Mr. Huan, Kuan-Ju
Board of Commissioners :
Commissioner -
Mr. Huang, I-Hsuan
Signatories :
President Director (Mr.
Huang, Shih-Hui) or the Director (Mr. Huang, Kuan-Ju) which must be approved by
Board of Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. AMELIA METAL (P.T. AM) was established in Gempol, Pasuruan, East Java based on notary deed of Mrs. Yedi Pudjawati, SH., No. 3 dated 3 September 2003 with the authorized capital of US$ 151,000 wholly issued and paid up. The company was founded by Mr. Huang, Shih-Hui and Mr. Huang,Kuan-Ju., both are businessmen of Taiwan (P.R.C.) as foreign partners. The company notary deed has been changed and according to the latest revision of notary documents of Mrs. Wulansari Widiya, SH., No. 1 dated 7 November 2008 the company authorized capital was increased to US$ 302,000 wholly issued and paid up. With this development the composition of its shareholders are Mr. Huan Shi-Hui (50%) and Mr. Huang, Kuan-Ju (50%) as new shareholders. The latest revision of notary documents was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-93317.AH.01.02.TH.2008 dated December 3, 2008.
P.T. AM is a Foreign Investment (PMA) company started to be operating since 2004 to be engaged in the field of electronic and electrical household appliance manufacturing. The plant is located at Dusun Karang Bangkal, RT. 03 RW. 04, Karang Rejo, Gempol, Pasuruan, East Java standing on 7,000 sq. metes land. The plant produces of Rice Cookers and Gas Stoves by using WILLY brand. Some of basic materials import from Taiwan and the rest from locals. The plant has absorbed an investment of US$ 552,000 come from owned capital of US$ 302,000 and the rest from loans. According to the license the plant produces of Rice Cookers of 300,000 unit and Gas Stoves of 250,000 unit respectively per annum. Some 80% of the products is exported to Taiwan, Hong Kong, while the rest marketed locally through distributors and dealers of electronic and electrical household appliance in Surabaya, Jakarta and other cities in Indonesia. We observe the operation of P.T. AM is classified a small size company of its kinds which operation has been growing and developing well in the last three years.
According to the Indonesian Electronic Goods Producers Association(GABEI), the demand for Indonesian electronic goods/products from both the domestic and export market has been rising sharply, The demand for electronic goods/products is still strongly dominated by demand for household appliances, including color TV sets, video CD, electric irons, water pumps, vacuum cleaners, electric fans, gas stoves, rice cookers, etc. Meanwhile, the demand for Indonesian electronic goods on the total local market, according to the Electronic Market Club (EMC) and the Department of Industry and Trade, already reached the level of Rp. 32,0 trillion until the end of 2010. For further details about the above figures as shown on the table below:
Electronics Market Domestic Consumption
2004 – 2010
|
Year |
Total Local Market (Trillion Rupiah) |
Local Production Value (Trillion Rupiah) |
|
2004 |
17.0 |
9.0 |
|
2005 |
22.0 |
8.0 |
|
2006 |
22.0 |
9.0 |
|
2007 |
24.0 |
11.0 |
|
2008 |
27.0 |
15.0 |
|
2009* |
29.0 |
19.0 |
|
2010* |
32.0 |
24.0 |
Source:
Electronic Affiliated
Until this time P.T. AM has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. AM 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. 24.7 billion rose to Rp. 25.8 billion in 2010 increased to Rp. 27.5 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. 2.5 billion and the company has an estimated total networth of at least Rp. 11.0 billion. We observe that P.T. AM 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. AM is led by Mr. Huang, Shih-Hui (67)
a businessman and professional manager with experience in electronic and
electrical household appliances manufacturing. Daily activity he is assisted by
Mr. Huang, Kuan-Ju (35) 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. AMELIA METAL 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.