|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. KOMPONEN FUTABA NUSAPERSADA |
|
|
|
|
Formerly Known As : |
P.T. KOMPONEN LOGAM NUSAPERSADA |
|
|
|
|
Registered Office : |
Jakarta Pusat,
10720 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
15.01.1996 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-37929 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Mufflers, Exhaust Systems and Metal Component Manufacturing |
|
|
|
|
No. of Employees : |
212 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 |
|
Status : |
Moderate |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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.
KOMPONEN FUTABA NUSAPERSADA
Head Office
Merpati Building,
M2 Floor
Jalan Angkasa Block B-15 Kav. 2-3
Kemayoran
Jakarta Pusat, 10720
Indonesia
Phones -
(62-21) 654 0668, 654 0669
Fax - (62-21) 654 0679, 6570 1149
E-mail - komponen@attglobal.net
Building Area - 5 storey
Office Space - 100 sq. meters
Region - Commercial
Status -
Rent
Factory
Jalan Pangkalan V (Narogong Km. 14)
Desa Cikiwul, Bantar Gebang
Bekasi, 17310
West Java
Indonesia
Phones -
(62-21) 825 0308, 8260 3535
Fax - (62-21) 825 0723, 8260 2854
E-mail - komponen@indosat.net.id
Land Area - 40,000 sq.
meters
Building Space - 32,000 sq. meters
Region - Industrial
Zone
Status - Owned
Date of Incorporation :
a. 15 January 1996 as P.T. KOMPONEN LOGAM
NUSAPERSADA
b. 01 October 1999 as P.T. KOMPONEN FUTABA
NUSAPERSADA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C2-980.HT.01.01.TH.97
Dated 7 February 1997
- No. AHU-AH.01.10-37929
Dated 24 November 2011
Company Status
:
Foreign
Investment (PMA) Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.759.251.0-055.000
The Capital Investment Coordinating Board
- No. 84/V/PMA/1997
Dated 17 October 1997
- No. 1839/III/PMA/1998
Dated 24 December 1998
- No. 645/III/PMA/1999
Dated 18 May 1999
- No. 1645/III/PMA/1999
Dated 13 December 1999
- No. 285/III/PMA/2003
Dated 20 March 2003
Related
Company :
A Member Company
of the INDAUDA or UDATINDO Group (see attachment)
Capital
Structure :
Authorized
Capital : Rp.
5,000,000,000.-
Issued Capital : Rp.
3,250,000,000.-
Paid up Capital : Rp.
3,250,000,000.-
Shareholders/Owners
:
a. P.T. DIRGANTARA MITRAMAHARDI - Rp.
1,365,500,000.-
Address : Jl. Tamansari Raya No. 85-D
Kelurahan Maphar, Kecamatan
Taman Sari
Jakarta
Barat
Indonesia
b. FUTABA INDUSTRIAL CO, LTD. - Rp. 975,000,000.-
Address : No. 1, Ochaya,
Hashime-Cho
Okazaki – City,
Aichi
Japan
c. P.T.
BUANAMOTORINDO NUSANTARA -
Rp. 568,500,000.-
Address : Jl. Tamansari Raya No. 85-D
Kelurahan Maphar, Kecamatan
Taman Sari
Jakarta
Barat
Indonesia
d. Mr. Remiel Herald Eman MBA - Rp. 341,000,000.-
Address : Jl. Raden Saleh II/130
D, RT. 009 RW. 003
Kelurahan
Cikini, Kecamatan Menteng
Jakarta Pusat
Indonesia
Lines of
Business :
Mufflers, Exhaust
Systems and Metal Component Manufacturing
Production
Capacity :
a. Mufflers -
1,200,000 set p.a.
b. Metal Components -
40,000 tons p.a.
Total
Investment :
a. Equity Capital - Rp.
3.2 billion
b. Loan Capital - Rp. 15.7 billion
c. Total Investment - Rp. 18.9 billion
Started
Operation :
1998
Brand Name :
Komponen Futaba
Nusapersada
Technical
Assistance :
Futaba Industrial
Co, Ltd., Japan
Number of
Employee :
212 persons
Marketing Area
:
Local - 100%
Main Customer
:
ASTRA Group
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. CHANDRA SOENARTOJO
b. P.T. CIPTA SAKSAMA INDONESIA
c. P.T. KANSAI KNALPOT INDONESIA
d. P.T. RUANG KENCANA KNALPOT
e. P.T. STANDARD ADI KNALPOT INDONESIA
f. P.T. SUMBER URIP ADI KNALPOT
Business Trend
:
Growing
B a n k e r s
:
a. The Bank of TOKYO-MITSUBISHI UFJ Ltd.
Mid Plaza Building
Jalan Jend. Sudirman Kav. 10-11
Jakarta Pusat, 10220
Indonesia
b. P.T. Bank MIZUHO INDONESIA
Plaza BII Menara II
Jalan M.H. Thamrin No. 51
Jakarta Pusat, 10350
Indonesia
c. P.T. Bank CENTRAL ASIA Tbk
Barclays Building
Jalan Jend. Sudirman Kav. 22-23
Jakarta Selatan, 12920
Indonesia
d. P.T. Bank RESONA PERDANIA
Bank Resona Perdania Building
Jalan Jend. Sudirman Kav. 40-41
Jakarta Pusat, 10210
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 155.0
billion
2010 – Rp. 167.0
billion
2011 – Rp. 175.0
billion
Net Profit
(estimated) :
2009 – Rp. 11.2
billion
2010 – Rp. 12.5
billion
2011 – Rp. 13.2
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Mardi Rusman, SE
Directors -
a. Mrs. Dra. Binawati Supandi
b. Mrs. Mirawati Thamrin
c. Mr. Remiel Herald Eman, MBA
d. Mr. Soshi Ando
Board of Commissioners :
President Commissioner -
Mr. Ong Ming Jam
Commissioners -
a. Mr. Ong Min Jung
b. Mr. Yasuhiro Mishima
c. Mr.
Letjend. (Retired-TNI AD) H.B.L Mantiri
Signatories :
President Director (Mr.
Mardi Rusman, SE) or one of the Directors (Mrs. Dra. Binawati Supandi, Mrs.
Mirawati Thamrin, Mr. Remiel Herland Eman, MBA or Mr. Soshi Ando) 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 named
P.T. KOMPONEN LOGAM NUSAPERSADA, it was established in January 1996 with an
authorized capital of Rp. 5,000,000,000 issued capital of Rp. 2,000,000,000
wholly paid-up. Founders and shareholders are P.T. DIRGANTARA MITRAMAHARDI,
P.T. BUANAMOTORINDO NUSANTARA and Dr. Frits Hendrik Eman, Ph.D. It’s articles
of association has frequently been changed for a couple of times. In October
1999, the company was renamed to P.T. KOMPONEN FUTABA NUSAPERSADA (P.T. KFN)
and concurrently FUTABA INDUSTRIAL CO. LTD., of Japan joined the company as new
shareholder. Then according to the latest revision of notary documents of Mrs.
R. Kusmartono, SH., No. 08 dated 9 November 2011 the company issued capital was
increased to Rp. 3,250,000,000 fully and paid up. Concurrently, Mr. Remiel
Harald Eman, MBA joined the company as new shareholder. With this time the
composition of its shareholders has been changed to become P.T. DIRGANTARA
MITRAMAHARDI (42.02%), FUTABA INDUSTRIAL CO, LTD., (30.00%), P.T.
BUANAMOTORINDO NUSANTARA (17.49%) and Mr. Remiel Herald Eman, MBA (10.49%). The
latest revision of notary documents was approved by the Ministry of Law and
Human Rights in its decision letter No. AHU-AH.01.10-37929 dated November 24,
2011.
We learnt that
the majority shareholders namely P.T. DIRGANTARA MITRAMAHARDI and P.T.
BUANAMOTORINDO NUSANTARA both are private national company dealing with trading
and distribution of automotive component and parts and investment holding which
majority business stakes is controlled by Mr. Remiel Herald Eman, Mr. Ong Ming
Jan, Mr. Andy Buana AKA Ong Min Jung they are founder and prime mover of the
INDAUDA Group or the UDATINDA Group, a small-size business group in Indonesia
dealing with automotive part and component manufacturing, banking, hostelry and
others.
P.T. KFN
obtained a Foreign Investment (PMA) license issued by Investment Coordinating
Board (BKPM) for dealing with muffler, exhaust systems, pressers parts and
metal component manufacturing whose plant is located at Jalan Pangkalan V,
Narogong, Km. 14, Desa Cikiwul, Bantargebang, Bekasi, West Java standing on
40,000 sq. meters land. The plant has been operating as from 1999 by produces
of muffler exhaust systems and metal components for automotive. The plant has
owning an installed production capacity of 1,200,000 sets of muffler per annum
and 4,000,000 sets (40,000 tons) of metal component per annum. Construction of
the plant absorbed investment of Rp. 18.9 billion originating from its own
capital of Rp. 3.2 billion and the rest is loan. Its products in the form of
muffler is marketed under KFN brand which are wholly being marketed locally
particularly to various automotive assembling companies like P.T. ASTRA
DAIHATSU MOTOR, P.T. TOYOTA MOTOR MANUFACTURING INDONESIA, P.T. TOYOTA -ASTRA
MOTOR, P.T. GAYA MOTOR, etc. Besides, some of the products is also distributed
by P.T. BUANAMOTORINDO NUSANTARA and P.T. DIRGANTARA MITRAMAHARDI., both are
engaged in trading and distribution of automotive component and parts. We
observe the operation of P.T. KFN has been growing and developing well in the
last three years.
Generally,
demand for motorcar components and parts had kept on increasing in line with
the development of the production of motorcar in the country. One of factors
supporting the growing demand for motorcar is the role of financial and banking
institutions seriously backing up the motorcar purchasing with installment
system. With a little Down Payment (DP), the public can obtain the motorcars.
The competition is very tight on account of many motorcycle producers operating
in the country including Chinese motorcycles offered with cheaper prices.
However,
Japanese motorcar still dominated the local motorcar markets like HONDA,
TOYOTA, SUZUKI, DAIHATSU, NISSAN, HINO and ISUZU. The development of motorcar
production in the country in detail is as illustrated in the following table:
Indonesia’s Wholesales of Motorcar, 2005-2010*
|
Year |
Production (AISI)
(Units) |
Wholesales (Units) |
|
2005 |
500,710 |
534,000 |
|
2006 |
296,008 |
319,000 |
|
2007 |
411,638 |
433,000 |
|
2008 |
600,628 |
604,000 |
|
2009 |
464,816 |
483,000 |
|
2010* |
500,000 |
720,000 |
*)
Projected
Source: AISI
Until this time P.T.
KFN has not been registered with Indonesian Stock Exchange, so that they shall
not obliged to announce their financial statement. The management of P.T. KFN
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. 155.0 billion rose to Rp. 167.0 billion in 2010 increased to
Rp. 175.0 billion in 2011 and projected to go on rising by at least 6% in 2012.
The operation in 2011 yielded an estimated net profit of at least Rp. 13.2
billion and the company has an estimated total networth of at least Rp. 75.0
billion. We observe that P.T. KFN is supported by foreign partner with has
financially strong and sound behind it. 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. KFN is led by Mr. Mardi Rusman, SE (50) a businessman and professional
manager with experience in automotive component manufacturing 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 company’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia. P.T. KOMPONEN FUTABA
NUSAPERSADA is sufficiently fairly good for business transaction.
Attachment:
See List of
the INDAUDA Group Members
1.
BUANAMOTORINDO
NUSANTARA, P.T. (Trading and Distribution of Automotive Component and Parts and
Investment Holding)
2.
DIRGANTARA
MITRAMAHARDI, P.T. (Trading and Distribution of Automotive Component and Parts
and Investment Holding)
3.
IONUDA,
P.T. (Trading and Distribution of Automotive Component and Parts)
4.
KOMPONEN
FUTABA NUSAPERSADA, P.T. (Mufflers Exhaust System and Metal Component Manufacturing)
5.
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
|
|
1 |
Rs.86.30 |
|
Euro |
1 |
Rs.67.73 |
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.