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Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. MAYA MUNCAR |
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Registered Office : |
Jl. Malaka II (Orpa) 17 EFG, Jakarta 11230 |
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Country : |
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Date of Incorporation : |
22.09.1978 |
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Com. Reg. No.: |
No.
AHU-39166.AH.01.02.Tahun 2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Fish Processing and Canning Industrys |
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No. of Employees : |
760 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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) |
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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 |
P.T. MAYA MUNCAR
Head Office
Jl. Malaka II
(Orpa) 17 EFG
Jakarta 11230
Indonesia
Phones -
(62-21) 690 2336 (6 lines)
Fax. - (62-21) 692 7184
Email - mayabrand@cbn.net.id
Building Area - 3 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Owned
Factory
Jl. Sampangan 22, Muncar
Banyuwangi 68472
East Java - Indonesia
Phones - (62-333)
593463-4
Fax - (62-333)
593305
Land Area - 48,200 sq.
meters
Building Area - 21,600 sq.
meters
Region - Industrial
Zone
Status - Owned
22 September 1978
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No.
AHU-39166.AH.01.02.Tahun 2008
Dated 08 July 2008
National Private Company
The Department of
Finance
NPWP No. 01.137.423.8-651.000
P.T. NUSA INDAH (Trading and Distribution of Sugar, Wheat Flour and Soya
bean)
Capital Structure :
Authorized Capital
- Rp. 1,000,000,000.-
Issued Capital - Rp. 1,000,000,000.-
Paid up Capital - Rp. 1,000,000,000.-
Shareholders/Owners :
a. Mr. Teddy
Sutandinata, MBA - Rp.
100,000,000.- (10%)
b. Mrs. Ratna
Julianty - Rp.
150,000,000.- (15%)
c. Mr. Hendra Sutandinata, MSc. - Rp. 100,000,000.-
(10%)
d. Mr. Hendri Sutandinata, MSc. - Rp.
350,000,000.- (35%)
e. Mr. Andri
Sutandinata, MSc - Rp.
200,000,000.- (20%)
f. Mr. Eddy
Sutandinata, MBA - Rp.
100,000,000.- (10%)
Lines of Business
:
Fish Processing and Canning Industry
Production
Capacity :
a. Canned Sardines and Mackerel - 22,500 tons p.a.
b. Canned Tuna - 15,000 tons p.a.
Total Investment :
a. Owned Capital - Rp. 20.0 billion
b. Loan Capital - Rp. 30.0
billion
c. Total Investment - Rp. 50.0 billion
Started Operation :
1979
Brand Name :
MAYA
Technical Assistance :
None
Number of Employee :
760 person
Marketing Area :
Local - 100%
Main Customers :
a. Traditional
Markets
b. Mini-markets,
Supermarkets, Hypermarkets
c. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Bali Maya Permai
b. PT. Maya Food Industries
c. PT. Aneka Tuna
Indonesia
d. PT. Bonanza
Indonesia
e. PT. Trisejati
Tatafood
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Menara BCA
Jl. M.H. Thamrin No. 1
Jakarta Pusat
b. P.T. Bank MANDIRI Tbk
Mandiri
Plaza
Jl. Jend.
Gatot Subroto Kav. 36-38
Jakarta
Selatan
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2009 – Rp. 410.0 billion
2009 – Rp. 460.0 billion
2010 – Rp. 520.0 billion
2011 – Rp. 580.0 billion
Net Profit (Loss)
:
2008 – Rp. 20.5 billion
2009 – Rp. 23.0 billion
2010 – Rp. 26.0 billion
2011 – Rp. 29.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director -
Mr. Hendri Sutandinata, BSc
Directors - a. Mr. Eddy Sutandinata, MBA
b. Mr. Agus Wahyudin
c. Mr. Suwarto Dinoto
Board of Commissioner :
President
Commissioner - Mr. Teddy Sutandinata,
MBA
Commissioner - Mr. Hendra
Sutandinata, MSc
Signatories :
President Director (Mr. Hendri
Sutandinata, BSc) or one of the
Directors (Mr. Eddy Sutandinata, MBA., Mr. Agus Wahyudin and Mr. Suwarto
Dinoto) which must be approved by Board of Commissioners (Mr. Teddy
Sutandinata, MBA., and Mr. Hendra Sutandinata, MSc.)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. MAYA MUNCAR (PT. MM) was established in Bogor, on
September 22, 1978 with an authorized
capital of Rp 50,000,000.-
of which Rp 10,000,000.- was issued and paid up.
The founding shareholders of the company are Mr. Eddy Mulianto (60%) and
Mr. Aubintoro (40%), both are Indonesian businessmen of Chinese extraction. The
deed of company was made by Esther
Daniar Iskandar, SH., a public notary in Bogor and it was approved by the
Ministry of Justice in its Decision Letter No. Y.A. 5/329/1, dated 15 November
1978. The Company’s Articles of Association have been amended several times. The latest amendment was based on Natarial Deed
No. 21 dated 11 April 2008 of Winanto Wiryomartani, SH., a notary in Jakarta,
the authorized capital was raised to Rp. 1,000,000,000.- entirely was issued
and fully paid up. Since then, the
shareholders of the company are Mr. Teddy Sutandinata, MBA (10%), Mrs. Ratna
Julianty (15%), Mr. Hendra Sutandinata, MSc. (10%), Mr. Hendri Sutandinata,
MSc. (35%), Mr. Andri Sutandinata, MSc. (20%) and Mr. eddy Sutandinata, MBA
(10%). The notary Deed has been approved
by the Minister of Law and Human Rights of the Republic of Indonesia through
Decree No. AHU-39166.AH.01.02.Tahun 2008 dated 08 July 2008. No changes have been effected
in term of its shareholding composition and capital structures to date.
P.T. MM has been operating since 1979 in fish processing and canning industry, is located on Jl. Sampangan 22, Muncar, Banyuwangi district, East java province, a city that is famous for its fish resources. P.T. MM is one of the pioneer and prominent canned fish manufacturers in Indonesia. Its product range includes canned sardines, canned mackerel and canned tuna. It has a daily production capacity of 50 tons of Tuna and 75 tons of Sardines and Mackerel. P.T. MM produces its own brands namely “Maya”, a sardines fish canning branded has been already very popular in the country. By keeping high quality standards an adopting HACCP consistently, P.T. MM has been recognized as high quality canned fish manufacturer. Today its products have been well known both in domestic and world market as Japan, Europe and USA.
|
Description |
Size |
Packing |
Quantity Cases Per
FCL |
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Tins |
Weight |
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SARDINES Tomato, Tomato & Chili, Water, Oil |
202 301 |
100,50 48,24 |
155 g 425 g |
1,000 -
2,000 900 - 1,800 |
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MACKEREL Tomato, Tomato & chili, Water, Oil |
202 301 |
100,50 48,24 |
155 g 425 g |
1,000
- 2,000 900 -
1,800 |
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TUNA Brine, Vegetable Oil |
307 603 |
48,24 6 |
185 g 1880 g |
1,000 - 3,400 1,400 |
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TUNA with FLAVORS Sweet & Sour, Curry, Chili Paste, Hot &
Spicy, Gulai, Pepes |
307 |
48,24 6 |
185 g |
1,700 3,400 |
Source: PT. Maya Muncar
We observe that the
marketing network of P.T. MM in the country is the quite extensive covering all
major cities in Java such as Jakarta, Bandung, Semarang, Yogyakarta, Surabaya
and Bali. The results of company production are sold at many mini-markets Alfa
and Indomart. They are also sold at many
supermarkets and hypermarkets in the country. We notice that this company's
operation runs smoothly and grows steadily in the last three years.
We note that the demand for fish canning such as tuna, sardine and mackerel has been growing some 10% to 12% per year in the last five years in line with the growth of mini-markets, supermarkets, hypermarkets and other retail shops. In the coming years, the growth rate of demand is estimated at about 6% to 8% per annum. The present market situation for fish processing and canning industry is very competitive for a large number of similar companies operating in the country. P.T. MM is considered to be in a favorable business position in view of the company's experience in the above business.
Until this time P.T. MM has not been registered with
Indonesian Stock Exchange, so that they shall not obliged to announce their
financial statement. P.T. MM's management is very reticent to outsiders
particularly about finances. We
estimated that the company's sales turnover in 2009 amounted to Rp. 460.0
billion increased to Rp. 520.0 billion in 2010 rose again to Rp. 580.0 billion
in 2011 and projected to increase further by at least 10% in 2012. The company is figured to have made a net
profit of at least Rp. 29.5 billion in 2011.
P.T. MM has an estimated net worth of at least Rp. 220.0 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. MM is led by Mr. Hendri Sutandinata, BSc., (46) a businessman who experienced for more than 20 years in the field of fish processing and canning industry. The management is also handled by three directors namely Mr. Eddy Ssutandinata, MBA (40), Mr. Agus Wahyudin (58), Mr. Suwarto Dinoto (56) and a number of professional staff, having maintained a wide business relation with private businessmen at home and abroad. Their relation with the government 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. MAYA MUNCAR 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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
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UK Pound |
1 |
Rs.87.37 |
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Euro |
1 |
Rs.69.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.