|
Report Date : |
03.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. SPECTRUM UNITEC |
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|
Formerly Known As : |
P.T. SPECTRUM KIND |
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Registered Office : |
Jalan Telesonic No. 7 Kelurahan Pasir Jaya, Kecamatan Jati Uwung Tangerang, 15136 |
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Country : |
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Date of Incorporation : |
24.04.2000 |
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Com. Reg. No.: |
No. AHU-61874.AH.01.02.TH.2011 |
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Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Shop Fitting Equipment Manufacturing |
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No. of Employees : |
300 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
P.T.
SPECTRUM UNITEC
Head Office & Factory
Jalan Telesonic
No. 7
Kelurahan Pasir Jaya, Kecamatan Jati Uwung
Tangerang, 15136
Phones -
(62-21) 5930 0221 (Hunting)
Fax - (62-21) 592 0114
E-mail - info@spectrum-unitec.com
Website - http://www.spectrum-unitec.com
Land Area - 35,000 sq.
meters
Building Space - 14,000 sq. meters
Region - Industrial
Zone
Status - Owned
Branches
a. Komplek Setiabudi
Centre B-17
Jalan Setiabudi
Phone - (62-61) 822 2579
Fax -
(62-61) 822 2579
E-mail - medan@spectrum-unitec.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
b. Komplek MTC
Block B 12
Jalan Soekarno Hatta
West
Phone - (62-22) 753 6269
Fax -
(62-22) 753 6269
E-mail - bandung@spectrum-unitec.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
c. Jalan Depok 4 A
Phone - (62-24) 356 6187
Fax -
(62-24) 356 6187
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
d. Jalan Raya
Klampis Jaya 33-47
Surabaya,
60117
Phone - (62-31) 591 0216
Fax -
(62-31) 591 0361
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
a. 24 April 2000 as P.T. SPECTRUM KIND
b. 19 October 2011 as P.T. SPECTRUM UNITEC
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C-18417.HT.01.01.TH.2001
Dated 5 November 2001
- No. AHU-61874.AH.01.02.TH.2011
Dated 15 December 2011
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.869.306.9-055.000
Related
Companies :
a. P.T. BRUEGMANN
b. P.T. JALEMA FILEWELL (Filing Products Specialist Manufacturing)
c. P.T. REAL LUSTRUM (Rattan and Wooden
Furniture Manufacturing)
d. P.T. SPECTRUM UNICIPTA (Housing Equipment
Manufacturing and Investment Holding)
Capital
Structure :
Authorized
Capital : Rp.
5,500,000,000.-
Issued Capital : Rp.
2,200,000,000.-
Paid up Capital : Rp.
2,200,000,000.-
Shareholders/Owners
:
a. P.T. SPECTRUM UNICIPTA - Rp. 2,147,200,000.-
Address :
Jl. Telesonic No. 7
Kelurahan Pasir
Jaya, Kecamatan Jati Uwung
Tangerang,
Jakarta Barat
Indonesia
b. Mr. Sandy Christianto Gunardi - Rp. 52,800,000.-
Address : The Green Blossom
File Block J 19 No. 12
Serpong,
Tangerang
Banten Province
Indonesia
Lines of
Business :
Shop Fitting
Equipment Manufacturing
Production Capacity
:
Racking and
Storage System - 40,000 units
per annum
Total
Investment :
a. Equity Capital - Rp.
5.5 billion
b. Loan Capital - Rp.
7.5 billion
c. Total Investment - Rp. 13.0 billion
Started
Operation :
2002
Brand Name :
Spectrum Unitec
Technical
Assistance :
None
Number of
Employee :
300 persons
Marketing Area
:
Local - 80%
Export - 20%
Main Customer
:
Industrial
Manufacturing
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ALBA
UNGGUL METAL
b. P.T. ACROE
INDONESIA
c. P.T. BOSTINCO
d. P.T. KARYA
MEGA KENCANA
e. P.T. MULTI SARANA AMANJAYA
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
CENTRAL ASIA Tbk
Jalan
Raya Gatot Subroto Km. 7
Jatake,
Tangerang
Jakarta Barat
Indonesia
b. P.T. Bank NEGARA INDONESIA Tbk
Jalan Industri III Kawasan
Industri Jatake Block B1 AB
Pasir Jaya,
Jati Uwung
Tangerang
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 37.8
billion
2010 – Rp. 40.0
billion
2011 – Rp. 42.0
billion
Net Profit
(estimated) :
2009 – Rp. 3.0
billion
2010 – Rp. 3.2
billion
2011 – Rp. 3.5
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Sandy Christianto Gunardi
Director -
Mr. Nathan Setiadi Konandar
Board of Commissioners :
President Commissioner -
Mr. Aloysius Henry Wibisono
Commissioner -
Mr. Donny Wibisono
Signatories :
President Director (Mr.
Sandy Christianto Gunardi) or the Director (Mr. Nathan Setiadi Konandar) 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
Originally the company
was named P.T. SPECTRUM KIND was established in Jakarta on 24 April 2000 with
the authorized capital of US$ 286,000 entirely issued and paid up. The founding
shareholders of the company are OTTO KIND AG of Germany and Mr. Ir. Aloysius
Henry Wibisono, an Indonesian businessman of Chinese extraction. The articles
of association of the company have frequently been revised. In February 2006,
Mr. Ir. Aloysius Henry Wibisono withdrew and replaced by P.T. SPECTRUM
UNICIPTA, a private company dealing with housing equipment industry and
investment holding. Then according to the latest revision of notary documents
of Mrs. Winarti Lukman Widjaja, SH., No. 06 dated 19 October 2011 the company
named was changed to P.T. SPECTRUM UNITEC (P.T. SU). On the same occasion, OTTO
KIND AG of Germany withdrew and the whole share sold to Mr. Sandy Christianto
Gunardi as new shareholder. Concurrently the company authorized capital was
converted into Rupiah with an authorized capital of Rp. 5,500,000,000 issued
capital of Rp. 2,200,000,000 entirely paid up. With this time the composition
of its shareholders has been changed to become P.T. SPECTRUM UNICIPTA (97.6%)
and Mr. Sandy Christianto Gunardi (2.4%). The latest revision of notary
documents was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-61874.AH.01.02.TH.2011 dated December 15, 2011.
We observe P.T.
SPECTRUM UNICIPTA is a private company established in October 1999 of which the
majority shares are controlled by Mr. Ir. Aloysius Henry Wibisono and Mr. Sandy
Christianto Gunardi. They are also business stakes owners of P.T. BRUEGMANN
ASIA engaged in different shelf edge solution manufacturing, P.T. JALEMA
FILEWELL engaged in filing products specialist manufacturing and P.T. REAL
LUSTRUM engaged in rattan and wooden furniture manufacturing.
P.T. SU or
Spectrum UniTec is a private national company operating since 2002 to deal with
shop fitting equipment manufacturing. Originally the company managing a plant
located at Jatake Industrial Estate, Jalan Industri Raya Block D No. 2,
Tangerang, Banten Province on a land of 3,000 square meters. However currently
the factory has been moved into new address located at Jalan Telesonic No. 7,
Pasir Jaya, Jati Uwung, Tangerang, Banten Province standing on 35,000 sq.
meters. Spectrum UniTec started the company by producing shelf display for
product presentation. Since its incorporation, the company has earned its
reputation in the industry to market only quality products. The plant has
frequently been expanded to increase its annual production capacity. According
to its license the plant has annual production of 40,000 units of racking.
Spectrum UniTec not only supplies national market, but also already fulfills
international demands. Spectrum UniTec has had tremendous success in expanding
its business in commercial, industrial, and retail sectors by presenting high
quality products such as gondolas, checkout counters, and shop displays that
improve sales levels through the right product presentation. Projects
calibrated to specific requirements allow a personalized offer, while the most
up-to-date management systems ensure perfect planning and delivery,
guaranteeing leading solutions for market leaders.
P.T. SU or
Spectrum UniTec types of product are Gondola (Basic Gondola, Accessories, Heavy
Duty, Combi System, Integration System, Fruits & Vegetables); Check Out
Desk (Static, Conveyor Belt, Display Desk and Customized) and Special Display.
Most of the products marketed to various industrial sectors such as Hypermarket
(Carrefour); Supermarket (Ranch Market); Convenience Stores (7-Eleven); Mini
Market (Indomaret); Fashion (The Goods Department); Cash & Carry (Metro
Cash & Carry); Special Retail (Belmart) and Building Materials (Mitra-10).
A staff of the
company said that some 20% shares of the products of the company are exported
to several European countries, the USA, Singapore and others while the rest is
locally marketed to various supermarkets in major cities in the country under
KIND brand. We observe that P.T. SK is classified as a large sized company in
the country dealing with shop fitting equipment industry of which the operation
has been running smoothly and growing in the last five years.
Generally,
demand for office equipment has kept on increasing by 8% to 10% per annum in
the last five years having close relation with the growing industrial sectors
requiring office equipment. The demand is estimated to be rising in the coming
two years. Meanwhile, the competition is very tight on account of lots of
similar companies operating in the country. The business position of P.T. SU is
favorable for having established regular customers and wide marketing networks
within and outside the country. Besides, the Indonesian economy has weathered
the storm and is currently accelerating.
As for the global economy, it is also in a recovery phase and this
recovery is expected to continue in 2010. Overall, the prospects for the
Indonesian economy in 2010 are brighter than in 2009. The global economic
recession has exerted significant downward pressures on the Indonesia
economy. In the first quarter of 2009
the economy grew by 4.4 percent, or significantly lower than in the fourth
quarter of 2008 when the economy grew by 5.2 percent and lower than in the
third quarter of 2008 when the economy grew by 6.4 percent.
Eventually, the impact of the
fiscal and monetary stimuli on the economy could be seen. This was reflected in
the brisker pace of growth in Indonesia despite the global economic
recession. In the second quarter of 2009
the Indonesian economy grew by 4.0 percent, and in the third quarter of the
year it grew by 4.2 percent. The economic is expected to accelerate further in
the fourth quarter of 2009. Ant for the
whole of 2009 the Indonesian economy is expected tot grow by 4.7 percent and
6.0 percent in 2010. Several factors support brisker economic growth in
2010. First, the global economic
conditions are expected to be better in 2010 than in 2009. This is evident in the
global economic recover that is expected to continue well into 2010. The US
economy, for example, is expected to grow by 2.5 percent in 2010 compared to a
contraction of 2.4 percent in 2009.
Meanwhile, the Japanese economy is predicted to grow by around 1.2
percent in 2010 in contrast to an expected contraction of around 5.7 percent in
2009. As for Europe, it is expected to grow by 1.1 percent in 2010 compared to
an expected contraction of around 3.8 percent in 2009. Against this backdrop,
Indonesian exports are expected to grow by 12.9 percent 2010.
Indonesia’s economic growth in 2008, 2009 and forecast for 2010
|
No. |
Sector |
2008 |
2009 |
2010 |
|
1. |
Agriculture |
4.8 |
3.6 |
3.3 |
|
2. |
Mining and Quarrying |
0.5 |
3.7 |
3.7 |
|
3. |
Manufacturing |
3.7 |
2.2 |
2.2 |
|
4. |
Electricity, Gas, and Clean Water |
10.9 |
13.4 |
13.4 |
|
5. |
Construction |
7.3 |
7.1 |
7.0 |
|
6. |
Trade, Hotel, and Restaurant |
7.2 |
1.2 |
5.8 |
|
7. |
Transportation and Communication |
16.7 |
17.4 |
16.7 |
|
8. |
Finance, Leasing and Business Services |
8.2 |
5.5 |
6.3 |
|
9. |
Services |
6.4 |
6.7 |
6.9 |
|
Gross Domestic Product (GDP) |
6.1 |
4.7 |
6.0 |
|
Source: Indonesia Economic Almanac
2010 by Bisnis Indonesia
Until this time P.T.
SU has not been registered with Indonesian Stock Exchange, so that they shall
not obliged to announce their financial statement. The management of P.T. SU 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. 37.8 billion rose to Rp. 40.0 billion in 2010 increased to Rp.
42.0 billion in 2011 and projected to go on rising by at least 5% in 2012. The
operation in 2011 yielded an estimated net profit of at least Rp. 3.5 billion
and the company has an estimated total networth of at least Rp. 15.0 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. SU is led by Mr. Sandy Christianto Gunardi (43) a businessman and
professional manager with experience in shop fitting equipment and trading. Daily
activity he is assisted by Mr. Nathan Setiadi Konandar (45) as Director. 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 company’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia. P.T. SPECTRUM UNITEC is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.83 |
|
|
1 |
Rs.87.41 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared by
: |
PRL |
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.