MIRA
INFORM REPORT
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Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. SIGNA HUSADA |
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Formerly Known As : |
PT. SIGMA KARYA HUSADA |
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Registered Office : |
Jl. Daan Mogot Km. 17 Jakarta Barat 11840 |
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Country : |
Indonesia |
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Date of Incorporation : |
20.12.1986 |
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Com. Reg. No.: |
No. AHU-38939AH.01.02.Tahun 2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution of Pharmaceutical Grade Active Ingredients and Excipients |
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No. of Employees : |
80 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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Maximum Credit Limit : |
US$ 1.6 million |
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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
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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 |
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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 |
Name of Company
P.T. SIGNA
HUSADA
Address
Head Office
Jl. Daan Mogot Km. 17
Jakarta Barat
11840
Indonesia
Phones -
(62-21) 5446344, 5446345
Fax - (62-21) 5446364
Email - marketing@signahusada.com
Building Area - 3 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
20 December 1986
as PT. SIGMA KARYA HUSADA, changed its name to PT. SIGNA HUSADA on October 15,
1987.
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-38939AH.01.02.Tahun 2011
Dated 02 August
2008
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.324.123.7-038.000
Affiliated/Associated
Company :
Not available
CAPITAL AND OWNERSHIP
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. Eddy Umbas - Rp. 600,000,000.-
(60%)
Address : Taman Surya I Vkij S-1 No. 6
Kel. Pegadunga, Kalideres
Jakarta Barat
b. Mrs. Lanyaway
Karwanto - Rp. 300,000,000.-
(30%)
Address : Taman Surya I Vkij S-1 No. 6
Kel. Pegadunga,
Kalideres
Jakarta Barat
c. Mr. Franky Michail Umbas -
Rp. 100,000,000.- (10%)
Address : Taman Surya I Vkij S-1 No. 6
Kel. Pegadunga, Kalideres
Jakarta Barat
BUSINESS ACTIVITIES
Lines of
Business :
Trading, Import and Distribution of
Pharmaceutical Grade Active Ingredients and Excipients
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1 9 8 7
Brand Name :
SIGNA HUSADA
Technical
Assistance :
None
Number of
Employee :
80 persons
Marketing Area
:
Local -
100%
Main Customers :
a. Pharmaceutical
Industries
b. Cosmetic
Industries
c. Food and
Beverage Industries
d. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BRATACO
CHEMICAL
b. P.T. ALAM KIMIA
c. P.T. PARAMA MANDYADANA
d. P.T. KARSAVICTA
SATYA
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Daan Mogot Branch
Jl. Daan Mogot Km. 10
Jakarta
Barat
Indonesia
b. P.T. Bank PERMATA Tbk
Kedoya Branch
Jl. Kedoya Agave Raya,
Ruko Tomang Tol Blok A1 No. 6
Jakarta Barat
Indonesia
c. P.T. Bank CENTRAL ASIA Tbk
Daan Mogot Branch
Jl. Daan Mogot No. 48A
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
Total Income/Revenue (estimated) :
2009 – Rp.
94.0 billion
2010 – Rp. 105.0 billion
2011 – Rp. 118.0 billion
Net Profit
(estimated) :
2009 – Rp. 3.8 billion
2010 – Rp. 4.2 billion
2011 – Rp. 4.7 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Eddy Umbas
Director - Mr. Franky Michail Umbas
Board of Commissioner :
Commissioner - Mrs. Lanyaway
Karwanto
Signatories :
President Director (Mr. Eddy Umbas) or
Director (Mr. Franky Michail Umbas) which must be approved by Board of
Commissioner (Mrs. Lanyaway Kawanto
CAPABILITIES
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
Maximum Credit Limit :
US$ 1.6 million on 90 days D/A
OVERALL PERFORMANCE
Originally named P.T. SIGMA KARYA HUSADA,
the company was established in
December 1986 with an authorized capital of Rp 100,000,000.- of which Rp
40,000,000.- was issued and paid up. The founding shareholders of the company
are Mr. Eddy Umbas, an Indonesian businessman of Chinese extraction and Mr. Ir.
Fransiscus xaverius Otje, an indigenous businessman. The company's articles of association was
since revised a couple of times. In October 1987 the company's name was changed
to P.T. SIGNA HUSADA (P.T. SH). Later in November 1997 the issued capital was
increased to Rp 60,000,000.- and wholly paid up. On this occasion all the
company's shares went over into the control of Mr. Eddy Umbas (60%), his wife
Mrs. Lanyaway Karwanto (30%) and his son Mr. Franky Michael Umbas (10%).
Latest, on July 7, 2011 the authorized
capital was raised again to Rp. 2,000,000,000.- of which Rp. 1,000,000,000.-
was issued and fully paid up. The amendment to Articles of Association was made
by Mrs. Lieke Lianadevi Tukgali, SH., a public notary in Jakarta based on
notary deed No. 14, and the deed was approved by the Minister of Law and Human
Rights through Decision Letter No. AHU-38939.AH.01.02.Tahun 2011 dated August
02, 2011. No changes have been effected in term of its shareholding composition
and capital structures to date.
P.T. SH has been in operation since
September 1987 in management of a simple pharmacy drug store located at Jalan
Kedoya Raya No. 27 E-G, West Jakarta with name “Apotik Kedoya”. Later in 1991 the company expanded activities
into import and trading of pharmaceutical grade active ingredients and
excipients. Today, P.T. SH appointed as
agent for DMV-Fonterra Excipients of New Zealand, Roquette Freres of France,
JRS Pharma of Germany, Finzelberg GmbH & Co., of Germany, Rhodia
Pharmaceutical Ingredients of France, Dominion Salt of New Zealand, Toyo
Science Corp., of Japan, Kyowa Chemical Industry Co. Ltd., of Japan, Pharmazell
GmbH., of Germany, Meiji Seika Kaisha Ltd., of Japan, Sogo Pharmaceutical Co.
Ltd., of Japan and others. The
pharmaceutical grade active ingredients and excipients are sold by the company
to pharmacy and foodstuff industries in Jakarta, Bandung (West Java) and other
big cities in the country. We consider P.T. SH to be in the medium size
category in the above business in the country with slowly developing operations
in the last two years.
Generally, demand of
pharmaceutical grade active ingredients and excipients, and other specialty
chemicals for pharmaceutical, cosmetic, food and beverage has kept on rising in
the last five years in the country in line with the activities of paint
industry, textile industry, furniture industry and other industries in the
country. The demand is estimated to be increasing by 8% to 10% per annum in the
next three years. The competition is very tight on account of many similar
companies operating in the country. The business position of P.T. SH is good
for it has established wide marketing networks in the country. Besides, the
products are well known in the country.
The company is neither public listed nor
bond issued company. Therefore, the company has no obligation to publish
financial statement publicly. We have checked to Department of Trade and
Industry and found that no financial statement has been reported. P.T. SH's
management is very closed to outsiders about the company's finances in
particular. The company's sales turnover
in 2009 is estimated at Rp 94.0 billion increased to Rp 105.0 billion in 2010
rose again to Rp 118.0 billion in 2011 and projected to go on rising by at
least 10% in 2012. The operation in 2011
yielded an estimated net profit at least Rp. 4.7 billion and the company has an
estimated total net worth at least Rp. 60.0 billion. We observe that P.T. SH is supported by
financially fairly strong behind it. So far, we did not hear that the company
having been black listed by the Central Bank (Bank Indonesia). The company
usually pays its debts punctually to suppliers.
P.T. SH's management is headed by Mr. Eddy
Umbas (72) as president director, who already has about 30 years of experience
in dispensary management and distribution of pharmaceutical raw materials. In
day-to-day operations he is assisted by his son Mr. Franky Michail Umbas (44)
and several professional managers in the above business. They have wide
relations with private businessmen within and outside the country and in the
ranks of senior government officials.
So far, we did not hear that the company’s management involved in the
business malpractices 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. P.T. SIGNA
HUSADA is appraised quite good for normal business transactions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.02 |
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1 |
Rs.78.05 |
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Euro |
1 |
Rs.65.13 |
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.