MIRA INFORM REPORT
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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. PERHUTANI ANUGERAH KIMIA |
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Registered Office : |
99, Perum Perhutani, Gedung Graha Pratama,
14th Floor, Jl. MT Haryono Kav. 15, Jakarta 12210 |
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Country : |
Indonesia |
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Date of Incorporation : |
20.03.2002 |
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Com. Reg. No.: |
No.
AHU-63896.AH.01.02.Tahun 2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Gondorukem Processing Industry |
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No. of Employees
: |
162 |
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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Maximum Credit Limit : |
US$ 2,600,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Indonesia |
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 |
P.T. PERHUTANI ANUGERAH KIMIA
Head Office
99, Perum Perhutani
Gedung Graha Pratama, 14th Floor
Jl. MT Haryono Kav. 15
Jakarta 12210
Indonesia
Phones -
(62-21) 8370 9362 (hunting)
Fax. -
(62-21) 8370 9363
Email -
rosin@pak.co.id / rosin@pak.co.id
Building Area -
24 storey
Building Space -
260 sq. meters
Region - Commercial
Status - Rent
Factory
Jl. Kanjeng Jimat,
Trenggalek, East Java
Indonesia
Phones -
(62-35) 5795995
Fax. -
(62-35) 5796096
Land Area -
15,000 sq. meters
Building Space - 9.500 sq. meters
Region - Industrial
Zone
Status - Owned
20 March 2002
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Justice and Human Rights
a. No. C-10447 HT.01.01.TH.2002
Dated 12 June 2002
b. No. W7-HT.01.04.1113
Dated 22 September 2006
c. No.
AHU-63896.AH.01.02.Tahun 2008
Dated 16
September 2008
Semi State Owned Company
The Directorate
General of Tax
NPWP No. 02.145.976.3-015.000
a. P.T. (Persero) PERHUTANI (Integrated Wood-based Industry and
Investment Holding)
b. P.T. BINA ANUGERAH INTI KIMIA (Chemical Industry and Investment
Holding)
Capital Structure :
Authorized Capital
- Rp. 60,000,000,000.-
Issued Capital - Rp. 30,000,000,000.-
Paid up Capital - Rp. 30,000,000,000.-
Shareholders/Owners :
a. P.T. PERUM PERHUTANI - Rp. 16,500,000,000.- (55%)
Address : Gedung Manggala Wanabakti
Jl. Jend. Gatot Subroto,
Senayan
Jakarta Selatan
b. P.T. BINA ANUGERAH
INTI KIMIA - Rp. 13,500,000,000.- (45%)
Address : Jl. Kapuas No. 24
Tegalsari, Surabaya
East Java
Lines of Business
:
Gondorukem Processing Industry
Production
Capacity :
Gondorukem - 20,000 tons p.a.
Total Investment :
a. Equity Capital - Rp. 30.0 billion
b. Loan Capital - Rp. 9.0 billion
c. Total
Investment - Rp. 39.0 billion
Started Operation :
2003
Brand Name :
None
Technical Assistance :
None
Number of Employee :
162 persons
Marketing Area :
Export -
60%
Local -
40%
Main Customers :
a. Export marketed
to Japan, India, Pakistan, Taiwan, Australia and several European Countries
b. Local marketed
to various paint industries, adhesive industries and others.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CHEMINDO
INTERBUANA
b. P.T. MAKRO CHEMINDO
c. P.T. SANICHEM
TUNGGAL PERTIWI
Business Trend :
Growing
Bankers :
a. P.T. Bank MANDIRI Tbk
Plaza Mandiri
Jl. Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
b. P.T. Bank NEGARA INDONESIA Tbk
Plaza BNI Kota 46
Jl. Jend.
Sudirman Kav. 1
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2008 – Rp. 83.5 billion
2009 – Rp. 110.0
billion
2010 – Rp. 165.0
billion
2011 – Rp. 190.0
billion
Net Profit
(estimated) :
2008 – Rp. 5.4 billion
2009 – Rp. 7.1 billion
2010 – Rp. 10.6 billion
2011 – Rp. 12.2 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Ir. Dodit Artanto
Director s - Mr. Ir. Susilo Iman Santoso
Board of Commissioners :
President Commissioner -
Mr. Ir. Martono
Commissioner -
Mr. Ir. Tedjo Rumekso
Signatories :
President Director (Mr. Ir. Dodit
Artanto) or Director (Mr. Ir. Susilo Iman Santoso) which must be approved by
Board of Commissioners
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$ 2,600,000 on the 90 days D/A of payment
P.T. PERHUTANI ANUGERAH KIMIA (P.T. PAK) was established in Jakarta on March 20, 2002 with the authorized capital of Rp. 60,000,000,000.- of which Rp. 15,000,000,000.- was issued and fully paid up. The founding shareholders of the company are P.T. PERUM PERHUTANI (55%), a state owned company dealing with wood-based industry and P.T. BINA ANUGERAH INTI KIMIA (45%), a private company dealing with chemical industry and investment holding. In July 2006, the issued capital was raised to Rp. 30,000,000,000.- fully paid up. The deed of amendment was made by Mr. Sri Rahayu H. Prasetyo, SH., a public notary in Tangerang under Company Registration Number W7-HT.01.04.1113, dated September 22, 2006 and No. AHU-63896.AH.01.02.Tahun 2008 dated September 16, 2008. No changes have been effected in term of its shareholding composition and capital structures to date.
P.T. PAK has been in commercial operation since 2003 dealing with gondorukem processing industry by managing a plant located in desa Trenggalek, East Java on a land of 15,000 square meters. Mr. Bani Sugiono, a marketing staff of the company said that the plant has frequently been expanded to increase its production capacity. The plant at present has annual production capacity of 20,000 tons of gondorukem (gum rosin). The development of the plant has absorbed an investment of Rp. 39.0 billion coming from won capital of Rp. 30.0 billion and the rest from loans. The basic materials in the form of pine saps are supplied by its holding company P.T. (Persero) PERHUTANI owning wide pine forest in Indonesia. He went on to say that some 60% of the products is exported to Japan, India, Pakistan, Taiwan, Australia and several European countries while the rest is locally marketed to various paint industries, adhesive industries and other. P.T. PAK is classified as a large sized company of its kind in the country of which the operation had been running smoothly and growing in the last five years up to present.
Generally, local demand for gum rosin and turpentine had been increasing by 7% to 8% on the average per annum having close relation with the rapid growth of various industrial sectors such as paint industries, adhesive industries and other in the above period as consumers. But, the competition is very tight on account of lots of similar companies operating in the country. The business position of P.T. PAK is appraised to be favorable for having established regular customers and wide marketing networks within and outside the country. We believed that the company is in position to thrive its business in the future.
P.T. PAK is neither public listed nor bond issued company. Therefore, the company has no obligation to publish financial statement publicly. The management of the company is very reclusive toward outsiders and rejected to disclose its financial conditions. However, the total sales turnover of P.T. PAK in 2009 amount to Rp. 110.0 billion increased to Rp. 165.0 billion in 2010 rose again to Rp. 190.0 billion in 2011 and projected to be rising by 10% in 2012. The operation of the company in 2011 is estimated to have gained a profit of Rp. 12.2 billion, with an estimated networth of Rp. 60.0 billion.
So far, we did not hear that P.T. PAK having been black listed by Bank Indonesia (Central Bank) and registered in district court for detrimental cases. The company usually pays its debts punctually to suppliers.
The management of P.T. PAK is headed by Mr. Ir. Dodit Artanto (52), a professional manager of P.T. PERUM PERHUTANI with broad experience in industry and trading of gum rosin and turpentine. In his daily activities, he is assisted by Mr. Ir. Susilo Iman Santoso (60) as director. We observed that management’s reputation in said business is fairly good. The management of the company is handled by experienced professional manager having wide relation with private businessmen of home and overseas as well as with the government sectors. 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. PERHUTANI ANUGERAH KIMIA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.65.17 |
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.