MIRA INFORM REPORT

 

 

Report Date :

01.06.2012

 

IDENTIFICATION DETAILS

 

Name :

P.T. BAROKA PRATAMA

 

 

Registered Office :

Duta Bukit Mas Building No. 2-A, Jl. Raya Duta 2-D, Karang Rejo, Banymanik, Semarang 50264, Central Java

 

 

Country :

Indonesia

 

 

Date of Incorporation :

12.10.2002

 

 

Com. Reg. No.:

No. 29-HT.01.10-20

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading and Distribution of Mechanical and Technical Equipments

 

 

No. of Employees :

26

 

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

 

 

Name of Company

 

P.T. BAROKA PRATAMA

 

company Address

 

Head Office

Duta Bukit Mas Building No. 2-A

Jl. Raya Duta 2-D,

Karang Rejo, Banymanik

Semarang 50264

Central Java

Indonesia

Phones             - (62-24) 76480135

Fax.                  - (62-24) 76480419

Building Area     - 3 storey

Office Space      - 210 sq. meters

Region              - Commercial

Status               - Rent

 

 

Date of Incorporation

 

12 October 2002

 

 

Legal Form

 

P.T. (Perseroan Terbatas) or Limited Liability Company

 

 

Company Reg.No.

 

The Ministry of Law and Human Rights

a. No. C-03573.HT.01.01.TH.2003

    Dated 20 February 2003

b. No. 29-HT.01.10-20

    Dated 08 September 2006

 

 

Company Status

 

National Private Company

 

Permit by the Government Department  

 

The Department of Finance

NPWP No. 02.146.229.6-015.000

 

 

Related Company

 

Not available

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital                - Rp. 1,640,000,000.-

Issued Capital                      - Rp.    410,000,000.-

Paid up Capital                    - Rp.    410,000,000.-

 

Shareholders/Owners :

a. Mr. H. Dekanto Abubakar                    - Rp. 186,000,000.- (45.3%)

b. Mr. Donny Bjudi Hendrawan                - Rp.   61,000,000.- (14.9%)

c. Mr. Decky Yusuf Irawan                      - Rp.   61,000,000.- (14.9%)

d. Mrs. Syahidina Andriani, ST.               - Rp.   61,000,000.- (14.9%)

e. Mrs. Hj. Indra Chayawati                     - Rp.   41,000,000.- (10.0%)

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading and Distribution of Mechanical and Technical Equipments

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

2003


Brand Name :

BAROKA PRATAMA

 

Technical Assistance :

None

 

Number of Employee :

26 persons

 

Marketing Area :

Local    - 100%

 

Main Customers :

a. Power Plant Industries

b. Paper Industries

c. Portland Cement Industries

d. Steel Product Industries

e. Etc.

 

Market Situation :

Very Competitive

 

Main Competitors :

a. PT. Himalaya Everest Jaya

b. PT. Adi Satya Sentosa

c. PT. Gala Ariatama

d. PT. Waru Teknikatama

e. PT. Catur Eka Teknik

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

Bankers :

a. P.T. Bank MANDIRI SYARIAH

    Semarang Branch

    Jl. Pandanaran No. 90

    Semarang, Central Java

b. P.T. Bank NEGARA INDONESIA Tbk

    Semarang Branch

    Jl. Majapahit No. 294

    Semarang, Central Java

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2009 – Rp. 12.6 billion

2010 – Rp. 14.0 billion

2011 – Rp. 16.4 billion

 

Net Profit (Loss) :

2009 – Rp. 630 million

2010 – Rp. 700 million

2011 – Rp. 820 million

 

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

President Director                      - Mr. H. Dekanto Abubakar

Directors                                   - a. Mr. Donny Budi Hendrawan, ST

                                                  b. Mr. Decky Yusuf Irawan

                                                  c. Mrs. Syahidina Andriani, ST

 

Board of Commissioner :

Commissioner                           - Mrs. Hj. Indra Cahyawati

 

Signatories :

President Director (Mr. H. Dekanto Abubakar) or one of the  Directors (Mr. Donny Budi Hendrawan, Mr. Decky Yusuf Irawan and Mrs. Syahidina Andriani) which must be approved by Board of Commissioner (Mrs. Hj. Indra Cahyawati)

 

 

CAPABILITIES

 

Management Capability :

Good

 

Business Morality :

Good

 

Credit Risk :

Average

Credit Recommendation :

Credit should be proceeded with monitor

 

Proposed Credit Limit :

Small amount – periodical review

 

 

OVERALL PERFORMANCE

 

P.T. BAROKA PRATAMA (PT. BP) was established in Semarang, on October 2002  with an authorized capital of  Rp  500,000,000.-  of  which Rp 100,000,000.-  was issued and  paid up.  The founding shareholders of the company are Mr. H. Dekanto Abubakar, his wife Mrs. Hj. Indra Cahyawati and his sons and daughter namely Mr. Donny Budi Hendrawan, Mr. Decky YUusuf Irawan and Mrs. Syahidina Andriani.  They are Indigenous entrepreneur family.  In April 2006, the authorized capital was raised to Rp. 1,640,000,000.- of which Rp. 410,000,000.- was issued and fully paid up.  The notary Deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia through Decree No. W9-HT.01.10-20 dated 8 September 2006.  No changes have been effected in term of its shareholding composition and capital structures to date.

 

P.T. BP has been operation since 2003 in trading, supply and distribution of mechanical and technical goods such as conveyor system (chain, belt, screw, bucket elevator), power plant equipment (element air pre-heater, boiler, dust collectors, electrostatic precipitator, etc). The company also serves the steel foundry services, special bolts, machining, gear manufacturing and equipment for cement plants, paper industries, steel mills, sugar mills and marine equipment such as anchor chain, mooring fitting and others. Ms. Sari, an administrative staff of P.T. BP when reached by phone explained that they tended to get jobs from power plant industries, paper industries, cement industries, steel product industries, etc. Additionally P.T. BP is also a supplier of equipment and supplies required by government institutions.  We observed that P.T. BP is classified as a small sized company of its kind in the country of which the operation has been growing slowly in the last three years.

 

In overall we find the demand for mechanical and technical goods such as conveyor system, power plant equipments, industrial machine and parts had been rising by the average 6% to 8% per year within the last five years in line with the growth of power plant, cement industries, pulp and paper industries, steel products, sugar, etc. But since the global economic crisis and tight money policy being imposed by Bank Indonesia in October 2008 the demand was decreased within due to a poor economic condition, decreasing income per capita and a weak in public purchasing power. The demand was increasing in the early 2009 due to economic condition was gradually recovery in the country. The growth rate is now estimated at 5% to 7% per year. Market competition is very tight due to a large number of similar companies operating in the country.

 

Until this time P.T. BP has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. P.T. BP's management is very reticent to outsiders particularly about finances.  We estimated that the company's sales turnover in 2009 amounted to Rp. 12.6 billion increased to Rp. 14.0 billion in 2010 rose again to Rp. 16.4 billion in 2011 and projected to increase further by at least 8% in 2012.  The company is figured to have made a net profit of at least Rp. 820 Million in 2011.   P.T. MM has an estimated net worth of at least Rp. 2.5 billion.  So far, we have never heard of 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. BAROKA PRATAMA is led by Mr. H. Dekanto Abubakar (69) an indigenous businessman with more than 20 years experience in trading and supply of mechanical and technical goods.  In daily activities he is assisted by three directors namely Mr. Donny Budi Hendrawan, ST (35), Mr. Decky Yusuf Irawan (33) and Mrs. Syahidina Andriani, ST (32). They have close relations with many high-ranking government officials as well as with private businessmen within and outside the country.  Their relation with the government sector is fairly good. So far, we have never heard that the company’s management involved in 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. BAROKA PRATAMA is sufficiently fairly good for business transaction. However, in view of the global economic slowdown we recommend to treat prudently in extending a loan to the company.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.87.37

Euro

1

Rs.69.95

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.