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Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. TANDUK AIRMAS |
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Registered Office : |
Jalan Bandengan Selatan No. 84-A Block, A/8-9 |
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Country : |
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Date of Incorporation : |
17.10.1991 |
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Com. Reg. No.: |
No. AHU-AH.01.10-21428 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importing and Distribution of Chemicals for Foods, Cosmetic and Pharmaceutical |
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No. of Employees : |
24 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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B1 |
B1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Source : CIA
P.T. TANDUK AIRMAS
Head Office
Jalan Bandengan Selatan
No. 84-A Block, A/8-9
Phone -
(62-21) 6617565, 6620303, 6691404, 6692176
Fax - (62-21) 6692414
Building Area - 4 storey
Office Space - 410 sq. meters
Region - Commercial
Status - Owned
Date of
Incorporation :
17 October 1991
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. C2-10205 HT.01.01.TH.92
Dated 15 December 1992
b. No. C-26919 HT.01.04.TH.2005
Dated 29 September 2005
c. No. AHU-29790.AH.01.02.Tahun 2009
Dated 01 July 2009
d. No. AHU-AH.01.10-21428
Dated 20 August 2010
Company Status
:
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 01.566.103.6-041.000
Related Company :
PD. WASIAT CHEMICAL INDUSTRY (Trading and Importer of Chemicals)
Capital Structure :
Authorized Capital
- Rp. 1,000,000,000.-
Issued Capital - Rp. 600,000,000.-
Paid up Capital - Rp. 600,000,000.-
Shareholders/Owners :
a. Mr. Samsulim
Halim -
Rp. 390,000,000.- (65%)
Address : Taman Kebon
Jeruk G-I/25
RT.001/RW.011, Srengseng
Jakarta Barat
b. Mr. Suherman Gunawan - Rp.
150,000,000.- (25%)
Address : Jl. Muara
Karang Block A6 Selatan
No. 30, Kelurahan
Pluit
Jakarta Utara
Indonesia
c. Mr. Dickson
Halim -
Rp. 60,000,000.- (10%)
Address : Taman Kebon
Jeruk G-I/25
RT.001/RW.011, Srengseng
Jakarta Barat
Lines of Business
:
Trading, Importing and Distribution of
Chemicals for Foods, Cosmetic and Pharmaceutical
Production
Capacity :
None
Total Investment :
None
Started Operation :
1992
Brand Name :
None
Technical Assistance :
None
Number of Employee :
24 persons
Marketing Area :
Domestic - 100%
Main Customers :
a. P.T. MAYORA
INDAH Tbk.
b. P.T. INBISCO
JAYA
c. P.T. KAKAO MAS
GEMILANG
d. P.T. KHONG GUAN
BISCUIT
e. P.T. ABC
CENTRAL FOOD INDUSTIES
f. P.T. NABISCO
FOOD
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CAFINDO
CITRA RASA
b. P.T. ESSENCE INDONESIA
c. P.T. BRATACO CHEMIKA
d. P.T. ALAM KIMIA
e. P.T. KARSAVICTA SATYA
f. P.T. GALIC
BINA MADA
g. P.T. KIMIA SARI JAYA SENTOSA
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Komplek Puri Deltamas Blok J 1-2
Jl. Bandengan Selatan No. 43
Jakarta Barat
b. P.T. Bank CENTRAL ASIA Tbk
Bandengan Branch
Jl.
Bandengan Selatan No. 43 Blok J-5
Jakarta Barat
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2009 – Rp. 21.5
billion
2010 – Rp. 24.6
billion
2011 – Rp. 28.0
billion
2012 – Rp. 15.9
billion (January – June)
Net Profit
(estimated) :
2009 – Rp. 1.1 billion
2010 – Rp. 1.2 billion
2011 – Rp. 1.4 billion
2012 – Rp. 0.8 billion (January – June)
Payment Manner :
Almost promptly
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Samsulim Halim
Director - Mr. Dickson Halim
Board of Commissioner :
Commissioner -
Mr. Suherman Gunawan
Signatories :
President Director (Mr. Samsulim Halim)
or Director (Mr. Dickson Halim) which must be approved by Board of Commissioner
(Mr. Suherman Gunawan)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below average
Credit Recommendation :
Credit should be proceeded normally
Proposed Credit Limit :
Moderate amount
P.T.
TANDUK AIRMAS (P.T. TA) was established in Jakarta in October 1991 with an
authorized capital of Rp. 1,000,000,000.- of which Rp. 200,000,000.- was issued and fully paid up. The founding
shareholders of the company were Mr. Samsulim Halim, Mr. Bennie Tjahjono, Mr.
Suherman Gunawan and Mr. Frans Hidayat.
They are Indonesian businessmen of Chinese extraction. In September 1992, Mr. Bennie Tjahjono and
Mr. Frans Hidayat pulled out and the whole shares are sold to Mr. Samsulim
Halim and Mr. Suherman Gunawan. The Articles
of Association has been approved by the Ministry of Law and Human Rights
through Decision Letter No. C2-10205.HT.01.01.TH.92, dated 15 December 1992.
The Company’s article of association has been amended for several times. In
July 2005, the issued capital was raised to Rp. 250,000,000.- entirely paid up.
Since at the time, the shareholders of the company are Mr. Samsulim Halim (75%)
and Mr. Suherman Gunawan (25%). The
amendment to articles of association has been approved by the Minister of Law
and Human Rights through Decision Letter No. C-26919 HT.01.04.TH. 2005, dated
September 29, 2005.
Most
recently by notarial deed of Desman, SH., No. 32 dated August 10, 2010 the
issued capital was raised again to Rp. 600,000,000.- and fully paid up. Since at the time, the shareholders of the
Company are Mr. Samsulin Halim (65%), Mr. Suherman Gunawan (25%) and Mr.
Dickson Halim (10%). The amendment to
article of association has been approved by the Minister of Law and Human
Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10-21428 dated
August 20, 2010.
P.T.
TA had been operating since 1992 in the trading, imports and distribution of
various chemicals for food, cosmetics and pharmaceutical industry. Previously the company is an agent for WERNER
JENKINSON Chemical of the USA, and the products are sold to petrochemicals,
food, cosmetics, chemical industries and the like, among others P.T. ASAHIMAS
CHEMICAL, P.T. MAYORA INDAH, P.T. MUSTIKA RATU etc. But, since the end of 2000, P.T. TA is an agent
of coloring food (chemical for food) with NERICON brand of India. Sometimes,
the company also imported coloring food from China and the USA. Mrs. Diana, a marketing staff of the company
explained that its coloring food product supplied to various local food and
beverage processing plants like instant noodles, snack foods, edible oils and
margarine processing companies among others are P.T. MAYORA INDAH, P.T. INBISCO
JAYA, P.T. KAKAO MAS GEMILANG (all are MAYORA Group), P.T. ABC PRESIDENT
ENTERPRISES INDONESIA (the ABC Group), P.T. NABISCO FOOD, P.T. JAKARANA TAMA,
etc. P.T. TA has established many
regular customers both in Jakarta, Surabaya, Tangerang, Cikarang, Bogor,
Karawang, Bekasi and surroundings. We
observed that the operation of P.T. TA has been running well and growing slowly
in the last three years.
In
overall we find the demand for coloring food, food ingredients and food
seasoning products has kept on rising by 7% to 8% per annum in the last three
years in line with the sustained growth in food and beverage processing
industry in Indonesia as well as the improving of population income. But since
the global economic crisis and tight money policy being imposed by Bank
Indonesia in October 2008 the demand was decreased within due to a poor economic
condition, decreasing income per capita and a weak in public purchasing power.
The demand was increasing in the early 2009 due to economic condition was
gradually recovery in the country. The growth rate is now estimated at 5% to 6%
per year. Market competition is very
tight due to a large number of similar companies operating in the country.
P.T.
TA in this case is not doing very badly on account of it has built a fairly
close connection with several leading food and beverages processing plants in
Indonesia. We are sure that P.T. TA has high ability to further expand its
business in the future.
Until this
time P.T. TA has not been registered with Indonesian Stock Exchange, so that
they shall not obliged to announce their financial statement. The management of
P.T. TA 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. 21.5 billion, increased to Rp. 24.6 billion in 2010 and
rose again to Rp. 28.0 billion in 2011.
The operation in 2011 yielded an estimated net profit by at least Rp.
1.4 billion and the company has an estimated total net worth by at Rp. 6.0
billion. It is projected that total
sales turnover of the company will increase at least 10% in 2012. We observe that P.T. TA is supported by
financially fairly strong behind it. So far, we have never heard of the company
having been black listed by the Central Bank (Bank Indonesia). The company
disclosed that the company usually pays its debts punctually to suppliers.
The
management of P.T. TA is led by Mr. Samsulim Halim (56) as president director,
a businessman who has experienced for more than 20 years in the field of
trading, importing and supplies of chemicals for food, cosmetic and
pharmaceutical industry. In daily
activities he is assisted by his son Mr. Dickson Halim (25) as director. We observed that management’s reputation in
said business is fairly good. The company has had wide relation in the realm of
the private businessmen inside and outside the country. Their relation with the
government is fairly good. So far, we have never heard that the company’s
management involved in a dirty business practice or detrimental cases that
settled in the country. The company’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia. We believed that PT. TANDUK AIRMAS is fairly
good for business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.85 |
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1 |
Rs.88.39 |
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Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.