MIRA
INFORM REPORT
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Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. BROCO AERATED CONCRETE INDUSTRY |
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Registered Office : |
Jalan Tanah Abang II No. 31 Jakarta Pusat, 10160 |
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Country : |
Indonesia |
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Year of Establishment : |
2006 |
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Com. Reg. No.: |
No. AHU-71348.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Light Weight Concrete Manufacturing |
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No. of Employees : |
117 persons |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 |
Name of Company
P.T. BROCO
AERATED CONCRETE INDUSTRY
Address
Head Office
Jalan Tanah Abang
II No. 31
Jakarta Pusat,
10160
Indonesia
Phones -
(62-21) 3847089 (Hunting)
Fax - (62-21) 3857044
Building Area - 2 storey
Office Space - 230 sq. meters
Region - Commercial
Status - Owned
Factory
Jalan Raya Serang
Km. 59
Cikande, Serang
Banten Province
Indonesia
Phones -
(62-254) 406193 (Hunting)
Fax - (62-254) 400137
Land Area - 200,000 sq.
meters
Building Space - 80,200 sq. meters
Region - Industrial
Zone
Status - Owned
Registration data
Date of Incorporation :
2006
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-71348.AH.01.02.TH.2008
Dated 8 October
2008
Company
Status :
Foreign
Investment (PMA) Company
Permit by the Government
Department :
The Department of Finance
NPWP No.
02.390.162.2-401.000
Related
Company :
A Member Company
of the BROCO Group (see attachment)
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
20,000,000,000.-
Issued Capital : Rp.
20,000,000,000.-
Paid up Capital : Rp.
20,000,000,000.-
Shareholders/Owners
:
a. Mr. Sutrisno -
Rp. 4,000,000,000.-
Address : Jl. Permata Hijau Block E No. 17
Jakarta Selatan
Indonesia
b. Mrs. Zulianna -
Rp. 4,000,000,000.-
Address : Jl. Permata Hijau Block E No. 17
Jakarta
Selatan
Indonesia
c. Mr. Sarjono Sutrisno - Rp. 3,000,000,000.-
Address : Jl. Permata Hijau Block E No. 17
Jakarta Selatan
Indonesia
d. Mr. Sadikin Sutrisno - Rp. 3,000,000,000.-
Address : Jl. Permata Hijau Block E No. 17
Jakarta
Selatan
Indonesia
e. Ms. Roslina
Sutrisno -
Rp. 3,000,000,000.-
Address
: Jl. Permata Hijau Block E No. 17
Jakarta Selatan
Indonesia
f. Mr. Sarwono Sutrisno - Rp. 3,000,000,000.-
Address : Jl. Permata Hijau Block E No. 17
Jakarta Selatan
Indonesia
BUSINESS ACTIVITIES
Lines of
Business:
Light Weight
Concrete Manufacturing
Production
Capacity :
Light Weight
Concrete - 200,000
cu. meters p.a.
Total
Investment :
Owned Capital - Rp. 20.0
billion
Started Operation
:
2006
Brand Name :
LEICHBRIC AAC
Technical
Assistance :
None
Number of
Employee :
117 persons
Marketing Area
:
Local - 100%
Main Customer
:
Building
Materials Shops
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ADHI CIPTA
INDAH
b. P.T. BETON ELEMENINDO PERKASA
c. P.T. DANTOSAN PRECON PERKASA
d. P.T. HEBEL INDONESIA
e. Etc.
Business Trend
:
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r s :
a. P.T. Bank
CENTRAL ASIA Tbk
Jalan
Tanah Abang II
Jakarta Pusat
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Jalan Gajah Mada No. 15
Jakarta Pusat
Indonesia
c. P.T. Bank UOB BUANA Tbk
Jalan Hasyim Ashari
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2009 Rp. 64.0
billion
2010 Rp. 67.0
billion
2011 Rp. 70.0
billion
Net Profit
(estimated) :
2009 Rp. 7.6
billion
2010 Rp. 8.0
billion
2011 Rp. 8.5
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Sarjono Sutrisno
Director -
Mr. Sadikin Sutrisno
Board of Commissioners :
President Commissioner -
Mr. Sutrisno
Commissioner -
Mrs. Zulianna
Signatories :
President Director (Mr.
Sarjono Sutrisno) or the Director (Mr. Sadikin Sutrisno) which must be approved
by Board of Commissioners
CAPABILITIES
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount
periodical review
Maximum Credit Limit :
US$ 750,000 on 90
days D/A
OVERALL PERFORMANCE
P.T. BROCO AERATED
CONCRETE INDUSTRY (P.T. BACI) was established in 2006 in Jakarta with an
authorized capital of Rp. 20,000,000,000 entirely issued and paid up. The
founding shareholders of the company are Mr. Sutrisno, his wife Mrs. Zulianna
and their sons namely Mr. Sarjono Sutrisno, Mr. Sadikin Sutrisno, Ms. Roslina
Sutrisno and Mr. Sarwono Sutrisno. They are Indonesian business family of
Chinese origins. The deed of amendment was made by Mr. James Herman Rahardjo,
SH., was approved by the Ministry of Law and Human Right in its Decision Letter
No. AHU-71348.AH.01.02.TH.2008, dated October 8, 2008.
We observe that
majority shareholder is controlled by Mr. Sutrisno and family members. Mr.
Sutrisno also founder and business stakes owners of the BROCO Group, a medium size
business group in electric equipment, asbestos industry, kitchen equipment and
light weight concrete industry.
P.T. BACI has
been operating since 2006 in light weight concrete industry. Its plant is
located at Jalan Raya Serang Km. 59, Cikande, Serang, Banten Province on a land
of 200,000 sq. meters. The products being produced by the company are in the
form of light concrete for the types of regular blocks, jumbo block and
interlocking block. The basic materials being used are sand, lime, cement and
others. The company produces of light weight concrete with capacity of 200,000
cu. meters per annum by using LEIBRIC brand. Leichtbric is an Aerated
Autoclaved Concrete also known as AAC. Leichtbric AAC is proven to be very
durable material.
The material is
lightweight and it offers many benefits such as: high thermal insulation, fire
& mold resistance, acoustic insulation, accurate sizes that can be easily
cut with ordinary carpentry tools for simplified construction. The superiority
of Leichtbric has been tested and its proud to say that Leichtbric conform to
fire rating standards of BS 476 and AS 1530.4 of over 240 minutes. The whole
products sold thorough various building material trading and shops in Jakarta,
West Java, Central Java and East Java. Besides, the products is also supplied
as project reference for real estate, apartment such as Summarecon Serpong
Cluster; P.T. DECORIENT (TMT Tower); P.T. PULAU INTAN BAJAPERKASA; P.T.
PEMBANGUNAN PERUMAHAN (Persero); P.T. PAKUWON GROUP (Casablanca Project); P.T.
MUTIARA BUNDA (Rukan TSI De Lemin); P.T. ANGGUN PERMAI MAKMUR (Vihara Toa
Sebio); P.T. BOGART INDO PERKASA (Grand Paragon); P.T. WIRA KUSUMA (Taman
Permata Estate); RS AZRA Bogor; P.T. RAJAWALI CORE (Apartment Cibubur) and
others project. In 2008 Leicht Bric expanded its market to Singapore, Malaysia,
New Zealand and Australia. We observe the operation of P.T. BACI has been
running smoothly in the last three years in line with the business growth and
development of property projects in the country in the last five years.
Generally,
demand for building material likes concrete products, light weight concrete,
gypsum board and gypsum plaster has kept on increasing by 9% to 10% per annum
in the last five years having close relation with the activity growth of
various industrial sectors such as property sector, office buildings,
apartments, shopping centers, and other industrial sectors as customer. The
demand is estimated to be rising by at least 6% per annum in the coming five
years. The competition is very tight on account of lots of similar company
operating in the country. The business position of P.T. BACI is favorable being
classified as one of large sized gypsum board and plaster industries in the
country. Besides, the company has established customers and wide marketing
networks in the country and KNAUF products are popular in the market.
P.T. BACI has
not been registered with Indonesian Stock Exchange, so that they shall not
obliged to announce their financial statement. The management of P.T. BACI 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. 64.0 billion rose to Rp. 67.0 billion in 2010 increased to Rp.
70.0 billion in 2011 and projected to go on rising by at least 5% in 2012. Its
estimated the company operation in 2011 has yielded a net profit pf at least
Rp. 8.5 billion and the company has an estimated total net worth of at least
Rp. 38.0 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. BACI is led by Mr. Sarjono Sutrisno (37) a businessman and professional
manager with experience in light weight concrete industry and trading. 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 companys litigation record is clean and it has not
registered with the black list of Bank of Indonesia. P.T. BROCO AERATED
CONCRETE INDUSTRY is sufficiently fairly good for business transaction.
List of the B R O C
O Group Members
1.
ATRISCO ASBESTOS CEMENT INDUSTRY, P.T. (Asbestos Cement
Roofing Manufacturing)
2.
ATRISCO MUTIARA ASBESTOS CEMENT, P.T. (Asbestos Cement
Roofing Material Manufacturing)
3.
BROCO AERATED CONCRETE INDUSTRY, P.T. (Light Weight Concrete
Industry)
4.
BROCO MUTIARA ELECTRICAL INDUSTRY, P.T. (Electric Instrument
Manufacturing)
5.
BROCO MOBEL INDUSTRY, P.T. (Wooden Furniture Manufacturing)
6.
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
|
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.15 |
RATING EXPLANATIONS
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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 SCs 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.