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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. BUKIT WARNA ABADI |
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Registered Office : |
Jalan Ruko Sentra Niaga Bulevar Hijau Kav. 7 |
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Country : |
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Date of Incorporation : |
10.10.2005 |
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Com. Reg. No.: |
No. AHU-19963.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Supplies of Food Grade |
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No. of Employees : |
7 persons |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
P.T. BUKIT
WARNA ABADI
Head Office
Jalan Ruko Sentra
Niaga Bulevar Hijau Kav. 7
Medan Satria
Bekasi 17131
West Java
Indonesia
Phone -
(62-21) 8887 5243
Fax -
(62-21) 8887 5243
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Owned
Warehouse
Jalan Kenanga Indah II Block HC No. 4
Komplek Harapan Indah
Bekasi 17131
West Java
Indonesia
Phone -
(62-21) 8872 776
Fax - (62-21) 8872 267
Building Area - Houses
Office Space - 120 sq. meters
Region - Housing
Complex
Status - Owned
Date of
Incorporation :
10 October 2005
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Justice and
Human Rights
- No. C-33040 HT.01.01.TH.2005
Dated 13 December 2005
- No. AHU-19963.AH.01.02.TH.2008
Dated 21 April 2008
Company Status
:
National Private Company
Permit by the
Government Department :
The Department of Finance
NPWP No. 02.510-260.9-407.000
Related
Company :
P.T. DHARMA COLOUR ABADI (Trading and Distribution of Chemical for
Plastic)
Capital
Structure :
Authorized Capital :
Rp. 100,000,000.-
Issued Capital :
Rp. 100,000,000.-
Paid up Capital :
Rp. 100,000,000.-
Shareholders/Owners
:
a. Mr. Bambang Sumantri - Rp. 50,000,000.-
Address : Harapan Indah Block
PK No. 17
Medan Satria, Bekasi
West Java
Indonesia
b. Mr. Ir.
Stefanus Tjetje Wirjadi, SH -
Rp. 50,000,000.-
Address : Jl Kenanga Indah Block HC No. 4
Komplek Harapan Indah, Bekasi
West Java
Indonesia
Lines of
Business :
Trading, Import and Supplies of Food Grade
Production
Capacity :
None
Total
Investment :
None
Started Operation
:
2006
Brand Name :
None
Technical
Assistance :
None
Number of
Employee :
7 persons
Marketing Area
:
Local - 100%
Main Customer
:
a. P.T. AGROFOOD PROPANINDO
b. P.T. ARNOTS INDONESIA
b. P.T. ASTAGUNA WISESA
d. P.T. INDOFOOD FRITOLAY
e. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ESSENCE INDONESIA
b. P.T. FOODEX INTI ABADI
c. P.T. HANJAYA INTI ABADI
d. P.T. PACHIRA DISTRANUSA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank INTERNATIONAL INDONESA Tbk
Jalan Raya Boulevard Block LC 5 No. 9-11
Kelapa Gading, Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2009 – Rp. 6.2 billion
2010 – Rp. 7.1 billion
2011 – Rp. 8.2 billion
Net Profit
(estimated):
2009 – Rp. 372 million
2010 – Rp. 355 million
2011 – Rp. 410 million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Bambang Sumantri
Board of Commissioners :
Commissioner -
Mr. Ir. Stefanus Tjetje Wirjadi, SH
Signatories :
Director (Mr. Bambang Sumantri) which
must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. BUKIT WARNA
ABADI (P.T. BWA) was established in Bekasi, West Java in October 2005 with an
authorized capital of Rp. 100,000,000 entirely issued and paid up. The founding
shareholders are Mr. Bambang Sumantri and Mr. Ir. Stefanus Tjetje Wirjadi, SH
both are Indonesian businessmen of Chinese extraction. The deed of amendment
was made by Mr. Benny Christianto, SH., a public notary in Jakarta was approved
by the Ministry of Law and Human Right in its Decision Letter No. C-33040
HT.01.01.TH.2005, dated December 13, 2005. The company notary documents had
been changed and according to the latest revision of notary documents of Mr.
Abdul Aziz, SH., No. 10 dated 17 March 2008 the board of director and the board
of commissioner reappointed to lead and runs of the company’s operation. The
deed of amendments was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-19963.AH.01.02.TH.2008 dated April 21, 2008.
We observe that
Mr. Bambang Sumantri is also business stakes owner of P.T. DHARMA COLOUR ABADI
engaged in the field of trading, distribution and supply of chemical (coloring)
for plastic products.
P.T. BWA has
been operating since the end of 2005 engaged in the field of trading, import
and supply of food grade. P.T. BWA is a trading company and exclusive agent and
distributor of NEELIKON Food Dyes and Chemicals Ltd. The NEELIKON merchandising
goods products are food colors and food dyes, pharmaceutical colors, personals
care, cosmetics colors, FD& C and D & C colors, aluminum lakes, dyes
for inks, fluorecent dyes and colors. Mr. Bambang Sumantri, the director of the
company explained that merchandising food grade is imported from India and
China. Its food grade products marketed to various local food and beverage
processing plants like instant noodles, snack foods, crackers, edible oils and
margarine processing companies among others are P.T. ARNOTS INDONESIA, P.T.
ASTAGUNA WISESA, P.T. AGROFOOD PROPANINDO, P.T. INDFOOD PRITOLAY, etc. P.T. BWA
has established many regular customers both in Jakarta, Tangerang, Bekasi,
Cikarang, Karawang and surroundings. Besides, food and colors is also supplied
to pharmaceutical and cosmetic industries in the country. Meanwhile the
chemical (coloring) products is handled by sister company P.T. DHARMA COLOUR
ABADI. We observe P.T. BWA's operation has been running smoothly and developing
well in the last three years.
The demand for
food grade, food ingredients and food seasoning products has kept on rising by
10% to 12% per annum in the last three years in line with the sustained growth
in food and beverage processing industry in Indonesia as well as the improving
of population income. The demand growth will go on rising by 10% per annum in
the next three years. Market competition is very sharp considering many other
similar imported products offering in the local markets. P.T. BWA in this case
is not doing very badly on account of it has built a fairly close connection
with several leading food and beverages processing plants in Indonesia.
Production Growth of Instant Noodles, Wet Noodles, Dry Noodles, Bread,
Biscuits, Snack Foods and Other Foods, in Indonesia, 2005 – 2010*
|
Year |
Instant Noodles (Ton) |
Wet Noodles (Ton) |
Dry Noodles (Ton) |
Bread (Ton) |
Biscuits (Ton) |
Snack (Ton) |
Others (Ton) |
|
2005 |
1,357,630 |
382,046 |
85,481 |
1,299,242 |
212,660 |
168,279 |
708,085 |
|
2006 |
1,392,956 |
392,742 |
89,156 |
1,352,755 |
232,377 |
175,484 |
735,804 |
|
2007 |
1,455,427 |
412,560 |
91,757 |
1,384,388 |
249,118 |
182,518 |
756,104 |
|
2008 |
1,500,000 |
400,921 |
89,134 |
1,372,420 |
238,225 |
176,902 |
738,884 |
|
2009 |
1,800,000 |
452,255 |
96,044 |
1,392,456 |
255,445 |
182,755 |
757,061 |
|
2010* |
1,940,000 |
488,435 |
103,727 |
1,503,852 |
275,881 |
197,375 |
817,626 |
Source: Central Bureau of Statistics (BPS) processed by ICB
*) Projected
Until this time
P.T. BWA has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of the
company 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. 6.2 billion increased to Rp. 7.1 billion in 2010 and to
Rp. 8.2 billion in 2011 and projected to go on rising by at least 5% in 2012.
The operation in 2011 yielded an estimated net profit at least Rp. 410 million
and the company has an estimated total networth by at least Rp. 1.0 billion. We
observe that P.T. BWA is supported by financially fairly strong behind it. So
far, we have never heard of the company having been black listed by the Central
Bank (Bank Indonesia). Mr. Bambang Sumantri, the director of the company
disclosed that the company usually pays its debts punctually to suppliers.
The management
of P.T. BWA is led by Mr. Bambang Sumantri (52) a professional manager who has
experienced for more than 17 years in the field of trading, import and supplies
of food grade and also food ingredients. We observed that management’s reputation
in said business is fairly good. The company has had wide relation in the realm
of the private businessmen inside 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. BUKIT WARNA ABADI is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
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.