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Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. RIZA UTAMA TEKNIK |
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Registered Office : |
Perum Jati Asri Block E – 15, Kraksaan, Probolinggo, 67282, East Java |
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Country : |
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Date of Incorporation : |
21.07.2006 |
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Com. Reg. No.: |
No. C-24087 HT.01.01.TH |
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Legal Form : |
P.T. (Perseroan
Terbatas) or Limited Liability Company |
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Line of Business : |
Trading,
Distribution and Supply of Mechanical Electrical Equipment |
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No. of Employees : |
17 |
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) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Name of
Company :
P.T. RIZA
UTAMA TEKNIK
A d d r e s s
:
Head Office
Perum Jati Asri Block E - 15
Kraksaan,
Probolinggo, 67282
East Java
Indonesia
Phones -
(62-335) 842671, 845830
Fax - (62-335) 845830
E-mail - riza_rut@yahoo.co.id
Building Area - 1 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
21 July 2006
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No. C-24087
HT.01.01.TH.2006
Dated 16 August
2006
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.266.258.9-625.000
Related
Company :
C.V. RIZKI REZA
UTAMA (Contracting Services and Supplies)
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued Capital : Rp. 250,000,000.-
Paid up Capital : Rp. 250,000,000.-
Shareholders/Owners
:
a. Mr. Jumadi -
Rp. 200,000,000.-
Address :
Desa Bnyulugur, RT. 01 RW. 02
Kampung Krajan,
Kec. Banyuglugur
Kabupaten
Situbondo, East Java
Indonesia
b. Mr. Suyono -
Rp. 50,000,000.-
Address : Perumahan Jati Asri Block E - 15
RT. 00 RW. 05, Kec. Kraksaan
Kabupaten Probolinggo, East
Java
Indonesia
Lines of
Business :
Trading,
Distribution and Supply of Mechanical Electrical Equipment
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
August 2006
Brand Name :
Riza Utama Teknik
Technical
Assistance :
None
Number of
Employee :
17 persons
Marketing Area
:
Local - 100%
Main Customers
:
a. P.T. INDONESIA POWER
b. P.T. PAITON
ENERGY
c. P.T. PLN Tbk
d. P.T. PERTAMINA
e. P.T. PEMBANGKITAN JAWA BALI, Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ABB SAKTI
INDUSTRY
b. P.T. ADIABARA BANSATRA
c. P.T. ADI JAYA KUSUMA
d. P.T. ARLISCOPUTRA HANTAMA
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
MANDIRI Tbk
Probolinggo Main Branch
East Java
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Probolinggo Main Branch
East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 10.0
billion
2008 – Rp. 11.2
billion
2009 – Rp. 12.5
billion
Net Profit
(estimated) :
2009 – Rp. 0.7
billion
2010 – Rp. 0.9
billion
2011 – Rp. 1.1
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Jumadi
Board of Commissioners :
Commissioner -
Mr. Suyono
Signatories :
Director (Mr. Jumadi)
which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
P.T. RIZA UTAMA TEKNIK (P.T. RUT) was established in Probolinggo, East
Java on July 7, 2006 with the authorized capital of Rp. 1,000,000,000 issued
capital of Rp. 250,000,000 entirely paid up. The founding and shareholders of
the company are Mr. Jumadi and Mr. Suyono, both are indigenous businessmen.
Based on our knowledge up to writing the report the notary documents of the company
have not undergone any changes. The company notary deed was made by Mr.
Hernowo, SH., was approved by the Ministry of Law and Human Right in its
Decision Letter No. C-24087.HT.01.01.TH.2006, dated August 16, 2006.
P.T. RUT had been operating since August 2006 in trading, distribution
and supply of electrical mechanical equipment. The merchandising goods products
including are fibre optic cables, marine cables, electric cable, transformers,
pipe, generating spare parts, tools, tools technique electricity, fabrication
and installation, hydraulic connectors, tube, fitting, bulkhead and weld
fitting, male stud fitting, flange, connectors & valves, cast iron valves
& malleable iron valves. The whole product is imported from Singapore,
Japan and South Korea. Mrs. Niah, accounting staff of P.T. RUT explained that
the company the distributor of gas pipe with SHINSO brand of Japan; JYCO brand
of India and generating set spare parts with Daewoo brand of South Korea.
The company is also able to provide of electrical mechanical equipment
which import from the USA and other countries. Mrs. Niah also added, the
products are largely supplied to state-owned electric P.T. PERUSAHAAN LISTRIK
NEGARA Tbk in Gresik, Grati (East Java), P.T. INDONESIA POWER, P.T. PEMBANGKITAN
JAWA BALI, P.T. INTERNATIONAL POWER MITSUI OPERATION AND MAINTENANCE INDONESIA
(IPMOMI), P.T. PERTAMINA, P.T. PAITON ENERGY and electrical & mechanical
contractors in Surabaya and surroundings. At present the company supplied of
electrical mechanical equipment in Kalimantan owned by P.T. INDONESIA POWER and
P.T. PLN Tbk. The operation of P.T. RUT has been running smoothly and growing
steadily.
The increasing of GDP National per capita with growth rates around 6-7%
per year resulted an escalation in electricity consumption valuing 9.2% per
year subsequently cause the need of additional generator about 3,000 MW
annually. Based on these needs PLN plans a power plant project for the next
five years to provide two-thirds of national needs and the remainder will be
provided through the participation of private institutions. In addition to the
construction of the plants the Corporate is still required to invest in
building transmission and distribution networks. These power plant thus require
a relatively large investment funds and the amount of USD 21.43 billion is the
predicted sum of investment fund in order to run the project for the next five
years. Funding was sourced from internally generated funds, and investment
incomes earned through export credits, bonds, and other commercial loans
through banks. To meet the growing demand of electricity in the future, the
Corporate will make additional investments by making use of appropriate
government support of Act No. 19 of 2003.
The local demand for
electrical equipment products has been growing in the last five years in line
with the demand and need of electric energy in the country in the last five
years. The demand for electric energy is estimated to be rising next year in
line with the glowing opening of new electric installation networks in various
regions in the country being certainly followed by the demand for electrical
equipment products. Java and Bali alone have absorbed 60% of electricity in
Indonesia. The power covering Java – Bali in early 2010 hit the highest point
at 17,000 MW. The power capacity across the national is only 28,000 MW. Such
figure will be very misleading if P.T. PLN make the average of national
figures. In the three years (2010-2013) the mounting availability of power in
the Java-Bali system shows extraordinary escalation. There will be about
additional power of 11,000 MW within three years for the two islands. It means
there is 50% expansion for three years of 18% growth a year. The competition is
very tight on account of lots of similar companies operating in the country.
The business position of P.T. AIM is favorable for having established regular
customers and wide marketing networks. The forecast of production and
consumption of national electricity power in Indonesia as following table:
The Production and Sales of National
Electricity, 2005 – 2010
|
Year |
Electricity Production (GWh) |
Electricity Sales (GWh) |
|
2005 |
127,371 |
107,032 |
|
2006 |
133,109 |
112,610 |
|
2007 |
142,440 |
121,247 |
|
2008 |
149,438 |
129,019 |
|
2009 |
155,333 |
134,582 |
|
2010 |
165,621 |
147,297 |
Source: Department of Mines and
Energy Resources
Until this time
P.T. RUT has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T. RUT 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. 10.0 billion
rose to Rp. 11.2 billion in 2011 increased to Rp. 12.5 billion in 2011 and
projected to go on rising by at least 4% in 2012. The operation in 2011 yielded
an estimated net profit of at least Rp. 1.1 billion and the company has an
estimated total networth of at least Rp. 3.5 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. RUT is led by Mr. Jumadi (44) a businesswoman and professional manager
with experience in trading, distribution and supply of electrical mechanical
equipment. The company's management is handled by a number of 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. RIZA UTAMA TEKNIK is sufficiently fairly good for business
transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.87.37 |
|
Euro |
1 |
Rs.69.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.