|
Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. BERUANGMAS MULTIKIMIA |
|
|
|
|
Registered Office : |
Jalan Panjang No. 26 Komplek Citta Graha Block 1-K Kedoya Selatan, Kebon Jeruk Jakarta Barat, 11530 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
30.05.1995 |
|
|
|
|
Com. Reg. No.: |
No. AHU-62926.AH.01.02.TH.2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading and Distribution of Paint and Ink Chemicals |
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|
|
|
No. of Employees : |
18 persons |
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 |
|
Maximum Credit Limit : |
US$ 226,300 |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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.
BERUANGMAS MULTIKIMIA
Head Office
Jalan Panjang No.
26
Komplek Citta
Graha Block 1-K
Kedoya Selatan,
Kebon Jeruk
Jakarta Barat,
11530
Indonesia
Phones -
(62-21) 5818020, 5331435, 5331439
Fax - (62-21) 5821982, 5360286
E-mail - beruang@cbn.net.id
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
30 May 1995
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C2-4.528.HT.01.01.TH.96
Dated 6 March 1996
- No. C-24973.HT.01.04.TH.2005
Dated 8 September 2005
- No. AHU-62926.AH.01.02.TH.2008
Dated 15 September 2008
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.724.714.9-038.000
Related Companies
:
a. P.T. BERKAT KARYA RIMBAWAN (Logs and
Investment Holding)
b. P.T. BETARA
AGUNG TIMBER (Logs)
c. P.T. LABAFURNI GRAHAPRIMA (Picture Frame
Making)
Capital
Structure :
Authorized
Capital : Rp.
2,000,000,000.-
Issued Capital : Rp.
1,000,000,000.-
Paid up Capital : Rp.
1,000,000,000.-
Shareholders/Owners
:
a. Mr. Hans Karel Lie, M.Sc - Rp. 780,000,000.-
Address : Green Garden Block G 4/18, RT. 012 RW. 004
Kel. Kedoya Utara, Kec. Kebon
Jeruk
Jakarta Barat
Indonesia
b. Mr. Bachtiar Ismail - Rp. 80,000,000.-
Address : Green Ville Block AJ/1, RT. 002
RW. 14
Kel. Duri Kepa, Kec. Kebon
Jeruk
Jakarta Barat
Indonesia
c. Mr. Matthew Ary -
Rp. 80,000,000.-
Address : Jl. Danau Dibawah
G-II No. 44
Bendungan Hilir
Jakarta Selatan
Indonesia
d. Mrs. Lisa
Tan -
Rp. 60,000,000.-
Address : Green Garden Block G 4/18, RT. 012 RW. 004
Kel. Kedoya Utara, Kec. Kebon
Jeruk
Jakarta Barat
Indonesia
Lines of
Business :
Trading and
Distribution of Paint and Ink Chemicals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1996
Brand Name :
Beruangmas
Multikimia
Technical
Assistance :
None
Number of
Employee :
18 persons
Marketing Area
:
Local - 100%
Main Customer
:
Emulsion and
Paint Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T.
BINTANGMAS PERMAI UTAMA
b. P.T. GERRINDO SURYA MAKMUR
c. P.T. SINARKIMIA UTAMA
d. P.T. TIRTAWANA SEMESTA KENCANA
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
CENTRAL ASIA Tbk
Jalan Tomang Tol Raya A1 No. 21-22
Jakarta Barat
Indonesia
b. P.T. Bank DANAMON INDONESIA Tbk
Jalan Panjang No. 28
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 15.7
billion
2010 – Rp. 16.5
billion
2011 – Rp. 17.2
billion
Net Profit
(estimated) :
2009 – Rp. 0.9
billion
2010 – Rp. 1.0 billion
2011 – Rp. 1.2
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Hans Karel Lie, M.Sc.
Directors -
a. Mr. Bachtiar Ismail
b. Mr. Matthew Ary
Board of Commissioners :
Commissioner -
Mrs. Lisa Tan
Signatories :
President Director (Mr.
Hans Karel Lie, M.Sc.) or one of the Directors (Mr. Bachtiar Ismail or Mr.
Matthew Ary) which must be approved by Board of Commissioner.
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$ 226,300 on 90
days D/A
P.T. BERUANGMAS
MULTIKIMIA (P.T. BM) was established in May 1995 with an authorized capital of
Rp. 1,000,000,000 issued capital of Rp. 200,000,000 wholly paid up. Founders
and shareholders of the company originally are Mr. Hans Karel Lie, MSc., Mrs.
Stephanie Halim, Mrs. Henny Luise Jocom, Mrs. Lisa Tan and Mrs. Selvia Sultana
Lie. They are wholly Chinese origin Indonesian entrepreneurs. It’s articles of
association has been frequently changed a couple of times. In November 1999,
the issued capital was raised to Rp. 300,000,000 entirely paid up. Then in
March 2005, the authorized capital was increased to Rp. 2,000,000,000 issued
capital of Rp. 1,000,000,000 wholly paid up. On the same occasion, Mr. Stefanie
Halim, Mrs. Henny Luise Jocom and Mrs. Selvia Sultana Lie, pulled out and
replaced by Mr. Matthew Ary and Mr. Bachtiar Ismail as new shareholders. With
this time the composition of its shareholders has been changed to become Mr.
Hans Karel Lie, M.Sc., (78%), his wife Mrs. Lisa Tan (6%), Mr. Bachtiar Ismail
(8%) and Mr. Matthew Ary (8%). The latest according to the latest revision of
notary deed Mr. Charles Hermawan, SH., No. 21 dated 20 August 2008 the board of
directors and the board of commissioner reappointed to lead and runs of the company’s
operation. The latest revision of notary documents was approved by the Ministry
of Law and Human Rights in its decision letter No. AHU-62926.AH.01.02.TH.2008
dated September 15, 2008.
We see that
majority business stakes of the company is controlled by Mr. Hans Karel Lie,
M.Sc. He is also majority business stakes holder of P.T. BERKAT KARYA RIMBAWAN
dealing with logging and investment holding, P.T. BETARA AGUNG TIMBER dealing
with logging, P.T. LABAFURNI GRAHAPRIMA dealing with picture frame making, P.T.
LAMBUR SAWMILL dealing with woodworking industry and P.T. RIAU TANAH PUTIH in
logging industry.
P.T. BM started
with operation in 1996 in trading and distribution of paint and ink chemicals.
It is the sole agent for paint and ink chemicals of WESTMINT paint chemical of
the Netherlands and LUKHASMIR paint chemical of Germany, LAUTER, LACOMA paint
chemical of Australia, MUNZING Chemie GmbH and ROBERT KHAEMER GmbH of Germany.
Mr. Hans Karel Lie, M.Sc., president director of the company disclosed that
whole products are supplied to various paint and emulsion manufacturing
companies, ink industry in Jakarta, Bandung and others cities. The global
economic crisis and steep Rupiah depreciation to the US$ and other hard foreign
currencies have adversely affected P.T. BM's business for having drastically
increased the prices of imported materials and consequently production costs,
while the intake capacity of consuming industries has declined. We see that
P.T. BM's operations have been slow in developing in conditions of the unstable
economic condition in the country.
The domestic
demand for various types of chemical products had been rising by 8% to 10% on
the average per annum in the last five years in line with the rapid growth of
various industrial sectors including paint industry, plastic, ink, textile,
rubber, printing and others in the above period of times as the consumers. But,
later dwindled as the global economic slowdown since October 2008, followed by
tight money policy imposed by Indonesian Central Bank (Bank Indonesia) and also
heated by political issue in the country. The demand growth started to awake in
June 2009 in line with the amelioration of economic condition in the
country. Market competition is very
tough on account of large number of other similar companies operating in the
country. P.T. WM business position in this case is not too badly because it has
built regular customers and extensive marketing network all across the country.
Imports of Raw Materials
and Auxiliary Goods, 2004-2010
|
Year |
Food and Beverages Mainly for
Industry (Million US$) |
Raw Materials for Industry (Million US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2004 |
1,456.7 |
568,6 |
2,236.3 |
15,357.8 |
|
|
2005 |
1,325.3 |
830,4 |
2,064.0 |
17,407.0 |
|
|
2006 |
1,352.2 |
909,1 |
2,438.7 |
18,050.7 |
|
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
|
|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
|
|
2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
|
|
2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
|
Source: Central Bureau of Statistic (BPS)
Until this time
P.T. BM has not been registered with Indonesian Stock Exchange, so that they shall
not obliged to announce their financial statement. The management of P.T. BM 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. 15.7 billion rose to Rp. 16.5 billion in 2010 increased to Rp.
17.2 billion in 2011 and projected to go on rising by at least 4% in 2012. The
operation in 2011 yielded an estimated net profit of at least Rp. 1.2 billion
and the company has an estimated total net worth of at least Rp. 4.0 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.
P.T. BM's management is
headed by Mr. Hans Karel Lie, M.Sc., (50) a Master of Science from University
of Berkley, the USA. He has about 21 years of experience in trading and
distribution of paint and ink chemicals. The company has an experienced
management backed by a team of staffs also with experience in the above
business. They are widely connected in private business circles within and
outside the country, while maintaining quite good relations with the government
sector. So far, we did not hear that the management of the company being filed
to the district court for detrimental cases. The company’s litigation record is
clean and it has not registered with the black list of Bank of Indonesia. P.T.
BERUANGMAS MULTIKIMIA is appraised quite good for business transactions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.24 |
|
|
1 |
Rs.76.75 |
|
Euro |
1 |
Rs.65.16 |
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.