|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. HOME CENTER INDONESIA - 203178 |
|
|
|
|
Registered Office : |
Gedung
Kawan Lama, 6th Floor, Jalan Puri Kencana No. 1, Meruya-embangan,
Jakarta Barat 11610 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
18.07.2003 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-57923.AH.01.02.TH.2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Retail
of Furnishing Products |
|
|
|
|
No. of Employees : |
365 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Indonesia - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, grew an estimated 6.1% and 6.4% in 2010 and 2011, respectively. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a small current account surplus, a fiscal deficit below 2%, and historically low rates of inflation. Fitch and Moody's upgraded Indonesia's credit rating to investment grade in December 2011. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the ongoing challenge of improving Indonesia's insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of rising oil prices.
|
Source : CIA |
P.T. HOME CENTER INDONESIA
Head Office
Gedung
Kawan Lama, 6th Floor
Jalan
Puri Kencana No. 1
Meruya-Kembangan
Jakarta
Barat 11610
Indonesia
Phones -
(62-21) 582-0808 (10 lines), 582-9003
Fax - (62-21) 582-1818
E-mail - informa.care@homecenter.co.id
Website - http://www.informa.co.id
Building Area - 6 storey
Office Space - 500 sq. meters
Region - Commercial
Status - Rent
18
July 2003
P.T.
(Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No. C-22469 HT.01.01.TH.2003
Dated 19 September 2003
- No. W7-HT.01.10-13496
Dated 02 November 2007
- No. AHU-57923.AH.01.02.TH.2008
Dated 02 September 2008
National
Private Company
The Department of
Finance
NPWP
No. 02.341.555.7-038.000
The Department of Industry
and Trade
TDP
No. 09.02.1.51.26396
Dated
24 October 2003
The Indonesian
Chamber of Commerce and Industry
KADIN
Member : 20202.85411-6
Dated
19 January 2007
A
Member Company of the KAWAN LAMA Group (see attachment)
Capital
Structure :
Authorized
Capital : Rp.
150,000,000,000.-
Issued
Capital :
Rp. 48,000,000,000.-
Paid
up Capital :
Rp. 48,000,000,000.-
Shareholders/Owners
:
a.
P.T. KAWAN LAMA SEJAHTERA -
Rp. 47,999,000,000.-
Address : Jl. Puri Kencana 1
Meruya - Kembangan
Jakarta Barat
Indonesia
b.
Mr. Kuncoro Wibowo -
Rp. 1,000,000.-
Address : Jl. Kembang Harum UtamaC.2/9
Jakarta Barat
Indonesia
Lines
of Business :
Retail
of Furnishing Products
Production
Capacity :
Informa
Furnishing Retails - 37
outlets
Total
Investment :
a.
Owned Capital -
Rp. 8.0 million
b.
Loan Capital -
Rp. 12.0 million
c.
Total Investment -
Rp. 20.0 million
Started
Operation :
2003
Brand
Name :
INFORMA
FURNISHINGS
Technical
Assistance :
None
Number
of Employee :
365
persons
Marketing
Area :
Domestic
(Local) - 100%
Main
Customers :
a.
ASTRA Group Members
b.
KRAMAYUDHA TIGA BERLIAN Group Members
c.
CITIBANK N.A.
d.
Industrial Manufacturing and individuals
e.
Etc.
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. AGIS Tbk
b. P.T. MAKRO INDONESIA
c. P.T. CATUR SENTOSA ADIPRANA Tbk
d.
P.T. CARREFOUR INDONESIA
e.
P.T. HERO SUPERMAKET Tbk
f.
Etc.
Business
Trend :
Growing
Bankers :
a. P.T. Bank PERMATA Tbk
Jalan Hayam Wuruk No. 84-85
Jakarta Barat
Indonesia
b.
P.T. Bank INTERNATIONAL INDONESIA Tbk
Plaza BII
Jalan M.H.
Thamrin No. 55
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2009
– Rp. 245.0 billion
2010
– Rp. 255.0 billion
2011
– Rp. 264.0 billion
2012
– Rp. 137.5 billion (January – June)
Net
Profit (estimated) :
2009
– Rp. 19.6 billion
2010
– Rp. 20.4 billion
2011
– Rp. 21.5 billion
2012
– Rp. 11.0 billion (January – June)
Payment
Manner :
Average
Financial Comments :
Satisfactory
Board
of Management :
President Director - Mr. Prabowo Widya Krisnadi
Director -
Mr. Ir. Hartanto Djasman
Board
of Commissioner :
President Commissioner - Mr. Kuncoro Wibowo
Commissioner - Mr. Ijek Widya Krisnadi
Signatories :
President
Director (Mr. Prabowo Widya Krisnadi) or the Director (Mr. Ir. Hartanto
Djasman) which must be approved by Board of Commissioners
Management
Capability :
Good
Business
Morality :
Good
P.T. HOME CENTER INDONESIA (P.T. HCI) was established Jakarta on July 18, 2003 with an authorized capital of Rp. 1,000,000,000 issued capital of Rp. 500,000,000 wholly paid-up. Founders and shareholders are P.T. KAWAN LAMA SEJAHTERA and Mr. Kuncoro Wibowo, a Chinese origin Indonesian businessman. The company notary deed has been changed and in August 2007, the authorized capital was increased to Rp. 8,000,000,000 entirely issued and paid up. The deed of amendment was made by Mrs. Eliwaty Tjitra, SH., a public notary in Jakarta, was approved by the Ministry of Law and Human Right in its Decision Letter No. W7-HT.01.10-13496, dated November 02, 2007. The latest in July 2008 the authorized capital was increased to Rp. 150,000,000,000 issued capital to Rp. 48,000,000,000 entirely paid up. The latest revision of notary act was made by Mrs. Indriyani Damayanti Siregar, SH., was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-57923.AH.01.02.TH.2008, dated September 02, 2008.
We observe that the majority shareholders namely P.T. KAWAN LAMA SEJAHTERA is a national private company dealing with trading and distribution of technical goods and investment holding which majority business stakes is controlled by Mr. Kuncoro Wibowo and family members. P.T. HCI is a member company of the KAWAN LAMA Group, a national private business group established by Wang family, a Chinese origin Indonesian business family. They have established P.D. (Perusahaan Dagang) KAWAN LAMA dealing with technical goods trading including hardware and tools. As from 1981, the KAWAN LAMA Group was continued by the second generation, namely Mr. Kuncoro Wibowo and his family members among them are Mr. Ijek Widya Krisnadi and Mr. Prabowo Widyakrisnadi.
P.T. HCI also knows with trading style INFORMA FURNISHING (ex INDEX FURNISHING) is engaged in retailer of furniture. The company manages INDEX FURNISHING retailer with one shopping for all furnishing needs concept and provides an array of high quality furnishings collection from home, office, accessories, to commercial spaces. INFORMA FURNISHING started with operation in 2003 by operating of 37 outlets INFORMA FURNISHINGS throughout various Indonesian major cities. The products including living rooms, cool picks, dining & kitchen, bedroom, office equipment, designer collection, home accessories, kids planet, commercial table and chairs, kept concept/racking system, mattress & linen. There are more than 60,000 types of quality merchandises in their comfortable and pleasant stores, offering top selections of furnishings. P.T. HCI is a franchise holder of INDEX FURNISHING of Thailand.
Informa Furnishings is the biggest and the most complete furnishings retail in Indonesia by provide more than 60.000 quality merchandises in comfortable and pleasant stores, offering top selections of furnishings products. Committed to this concept, Informa Furnishing is continually adding greater variety of furnishings to their collections especially in Biggest Informa store located at Living World Alam Sutera Serpong, with 25.000 sq. meters area.
Informa furnishings departments include Living, Designer Collections, Dining, Kitchen, Commercial Tables and Chairs, Office, Kept Concept, Bedroom, Kids, Mattress, Beauty Commercial, American Home Furniture, Lighting, furthermore, our selection is completed with an array of Home Accessories consists of Home Décor, Home Textile, Household. In addition to fulfill customers needs and tastes of branded and special collections, Informa Furnishing imported selected products from well-known furniture countries such as from USA, Belgium, Denmark, France, Germany, Italy, Asia and the rest from local made.
Informa Furnishing provides the widest range for all furnishings needs. From Living to Dining, Office to Home Accessories, Bedroom to Commercial spaces, retails to projects. Informa Furnishing is “one stop shopping" for all furnishings needs. INFORMA Furnishings is the biggest center of retail furnishings in Indonesia, with a concept to fulfill your housing lifestyle. Informa Furnishings makes your dream furniture within reach anytime. Experience a wide array of top selected items from all over the world in our comfortable stores, all for your shopping convenience. Up until now, Informa has opened 37 stores, in order to fulfill the housing life style of its customers. The stores have been widely spread throughout the provinces in Indonesia.
The whole products is also supplied to ASTRA Group, KRAMAYUDHA TIGA BERLIAN Group, CITIBANK N.A., P.T. P.T. TOYOTA MOTOR MANUFACTURING INDONESIA, P.T. Bank CIMB NIAGA Tbk, P.T. Bank OCBC NISP, PALADIN Group, P.T. HUTCHISON CP TELECOMMUNICATIONS, P.T. TRAVIRA AIR, oil and gas industry, industrial manufacturing others individuals. To support of INFORMA FURNISHINGS operations, the company is supported by a comprehensive advance logistics system that is prime to determine a faster deliver. INFORMA FURNISHINGS is equipped with a warehouse that is capable of storing a massive inventory and a warehouse located at Cikupa, Banten Province. We observe that the operation of P.T. HCI or INFORMA FURNISHINGS has been growing in the last five years.
The demand for furnishings has kept on rising by 8% to 10% per annum in the last five years. Such condition was in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 7% to 8% per annum. The present market situation for furniture products is very competitive for a large number of similar companies operating in the country. It is projected that the demand growth will be rising within the next five years. Market competition is very tough on account of many other similar companies operating in Indonesia. P.T. HCI’s business position in this case is not too badly because it has established regular customers and extensive marketing network.
Until this time P.T. HCI has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. HCI 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. 245.0 billion rose to Rp. 255.0 billion in 2010 increased to Rp. 264.0 billion in 2011. As from January to June 2012 the sales turnover has reached at least Rp. 137.5 billion with a net profit of Rp. 11.0 billion and the sales it’s projected to go on rising by at least 5% in 2013. The company has an estimated total networth of at least Rp. 152.0 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. HCI is led by Mr. Prabowo Widya Krisnadi (56) a businessman with 27 years of experience in the trading and distribution of quality of furnishings. Born in Jakarta, Indonesia, in 1962, Prabowo Widyakrisnadi, an Indonesian citizen, has held the position of President Di- rector of PT Ace Hardware Indonesia Tbk. since 1996. He is fully involved in all management aspects. Starting his career with Kawan Lama Group as Assistant Manager at PT Kawan Lama Sejahtera in 1987, he is now President Commissioner for the Company, in addition to holding several important
Daily operation, he is assisted by Mr. Ir. Hartanto Djasmin (55) as Director. Born in Salatiga, Central Java in 1957, Hartanto Djasman, an Indonesian citizen, has served as Finance Director of PT Ace Hardware Indonesia, Tbk. since 2005. He began his professional career as Project Manager for PT Dumas Ship- yard in 1981, before joining Kawan Lama Group as Finance Manager of PT Kawan Lama Sejahtera in 1988. He is presently holding several positions. 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. HOME CENTER INDONESIA is sufficiently fairly good for business transaction.
Attachment:
The
KAWAN LAMA Group Members
1.
ACE HARDWARE INDONESIA Tbk, P.T. (Trading and
distribution of hardware and tools)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
UK Pound |
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
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.