|
Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. MENJANGAN SAKTI |
|
|
|
|
Registered Office : |
Mensa Builing I,
3rd Floor Jl. Rasuna Said Kav. B-34 Kuningan Jakarta 12940 |
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|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
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Date of Incorporation : |
07.04.1975 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-AH.01.10-13613 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Importer and Wholesale of Pharmaceutical
Raw Materials, Food Ingredients, Feed Meals, Cosmetic, Medical Devices and
others. |
|
|
|
|
No. of Employees : |
194 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
P.T. MENJANGAN
SAKTI
Head Office
Mensa Builing I, 3rd
Floor
Jl. Rasuna Said
Kav. B-34
Kuningan
Phone -
(62-21) 5222468 (hunting)
Fax. - (62-21) 5222467, 5256337
Email - sales@mensa-trading.com
Website - http://www.mensa-trading.com
Building Area - 22 storey
Office Space - 600 sq. meters
Region - Commercial
Status - Owned
Warehouse
Jl. Pulau Kambing
II/26
Pulogadung
Industrial Estate
Jakarta Timur
Indonesia
Phone -
(62-21) 4605895, 46824074
Fax. - (62-21) 46824075
Building Area - 3,800 sq. meters
Office Space - 2,500 sq. meters
Region - Industrial
Estate
Status - Rent
Date of
Incorporation :
07 April 1975
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-90910.ah.01.02.Tahun 2008
Dated 27 November 2008
b. No.
AHU-AH.01.10-13613
Dated 20 August 2009
Company Status :
National Private Company
Permit by the Government Departments :
a. The Department
of Finance
NPWP No. 01.301.277.8-062.000
b. The Department
of Health
No. 405/AA/SK/PBB/II/7
Dated 7 September 1981
c. The Department
of Trade
TAPPI No. 5749 N
Dated 11 February 1981
Related Company :
The MENSA Group Members
Capital Structure :
Authorized Capital
- Rp. 20,000,000,000.-
Issued Capital - Rp. 15,000,000,000.-
Paid up Capital - Rp. 15,000,000,000.-
Shareholders/Owners :
a.
Mr. Sudharta AKA Jimmy Sudaharta - Rp.
14,990,000,000.- (99.93%)
Address : Jl. Caringin Timur I/20 RT.015/010
Jakarta Selatan
Indonesia
b. Mr. Budi Jonathan Sudharta - Rp. 10,000,000.- ( 0.07%)
Address : Jl. Caringin Timur I/20 RT.015/010
Jakarta Selatan
Indonesia
Lines of Business:
Importer and Wholesale of Pharmaceutical Raw
Materials, Food Ingredients, Feed Meals, Cosmetic, Medical Devices and others.
Production
Capacity :
None
Total Investment :
None
Started Operation :
1975
Brand Name :
MENJANGAN SAKTI or
MENSA
Technical Assistance :
None
Number of Employee :
194 persons
Marketing Area :
Local - 100%
Main Customers :
a. P.T. COCA COLA
INDONESIA
b. P.T. DANONE
INDONESIA
c. P.T. INDOFOOD
SUKSES MAKMUR Tbk.
d. P.T. NESTLE
BEVERAGES INDONESIA
e. P.T. AJINOMOTO INDONESIA
f. P.T. AVENTIS
INDONESIA
g. P.T. BAYER INDONESIA
h. P.T. PFIZER INDONESIA
i. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. KHARINDO
PRAKARSA
b. P.T. ELANG
KURNIA SAKTI
c. P.T. ADIMITRA
PRIMA LESTARI
d. P.T. TIRTA WANA
SEMESTA KENCANA
e. P..T. MEGA KEMIRAYA, etc.
Business Trend :
Growing
B a n k e r s :
a. The Hong Kong and Shanghai Bank Corp.
Jakarta Office
Jl. HR Rasuna Said Kav. X7 No. 6
Jakarta Selatan
b. P.T. Bank CENTRAL ASIA Tbk.
Menara Karya, Ground Floor
Jl. HR
Rasuna Said Blok X-5 Kav.1-2
Jakarta
Selatan
c. P.T. Bank DANAMON INDONESIA
Menara Bank Danamon
Jl. Prof.
Dr. Satrio Kav. E4 No. 6
Jakarta Selatan
Auditor :
Johan Malonda Mustika & Rekan, a public accountant
Litigation :
No litigation record in our database
Annual Sales
:
2009 – Rp. 740.0
billion
2010 – Rp. 803.7
billion
2011 – Rp. 872.0
billion (estimated)
Net Profit :
2004 – Rp. 36.1 billion
2010 – Rp. 41.6 billion
2011 – Rp. 45.2 billion (estimated)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Sudharta AKA Jimmy
Sudharta
Director - Mr. Budi Jonathan Sudharta
Board of Commissioner :
Commissioner -
Mrs. Lanny Soenanta Sudharta
Signatories :
President Director (Mr. Sudharta AKA
Jimmy Sudharta) or Director (Mr. Budi Jonathan Sudharta) which must be approved
by the Board of Commissioner (Mrs. Lanny Soenanta Sudharta)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below Average
Credit Recommendation :
Credit should be proceeded normally
Proposed Credit Limit :
Moderate amount
P.T. MENJANGAN
SAKTI (P.T. MENSA) was incorporated on April 7, 1975 in Jakarta with an
authorized capital of Rp 20,000,000.- of which Rp 10,000,000.- was issued and
paid up. Founders and shareholders of are Mr. Sudharta AKA Jimmy Sudharta and
his wife Mrs. Maria Tanudjaja. They are Chinese origin Indonesian business
family. The company's notarial act has frequently been amended. In 1978 its
authorized capital was raised to Rp 100,000,000.- of which Rp 60,000,000.- was
issued and paid up. In December 1992 its authorized capital was increased again
to Rp 5,000,000,000.- and the issued capital to Rp 2,000,000,000.- wholly paid
up. In June 1995 the authorized capital
was raised to Rp 10,000,000,000.- issued and paid up capital to Rp 7,000,000,000.-.
In July 1996 the authorized capital was raised to Rp 20,000,000,000.- of which
Rp. 15,000,000,000.- was issued and paid up.
Latest in July 2009, Mrs. Maria Tanudjaja pulled out and the whole
shares are sold to her son Mr. Budi Jonathan Sudharta. Since then, the shareholders of the company
are Mr. Jimmy Sudharta (99.93%) and his son Mr. Budi Jonathan Sudharta
(0.07%). This amendment to Articles of Association was approved by the Minister
of Law and Human Rights of the Republic of Indonesia by virtue of Decision
Letter No. AHU-AH.01.10-13613 dated August 20, 2009. No changes have
been effected in term of its shareholding composition and capital structures to
date.
P.T. MENSA is parent company
of the MENSA Group, a big-size business group in the country. MENSA Group, comprises of several companies
with diversified activity such as importing and trading of pharmaceutical raw
materials, food, feed and cosmetics; pharmaceutical manufacturing, medical
supplies and dental equipment manufacturing; pharmaceutical and medical
supplies and consumer goods distribution.
P.T. MENSA has
been in operation since 1975 in trading, import and wholesale of pharmaceutical
raw materials, food ingredient, feed meals, cosmetic, medical devices and
others. The company is appointed by a
number of leading foreign companies such as DSM Nutritional Products, DSM
Anti-Infective, WELDING Hamburg, COLORCON, SPI PHARMA, ARKEMA, BERACA, AIONEST,
ECKART, BIOLAND, SANOFI AVENTIS, LANONIES, STELLA, INCA OIL, GREENTECH Naturally,
GIVAUDAN, INOLEX, BRUNO BOCK, UNI PEX, RECORDATI, MEGGLE and others. Today, P.T. MENSA having more than 1000
products and serving approximately 650 regular customers in pharmaceutical,
food, feed and cosmetic industry throughout Indonesia. Their main customers are PT. Coca Cola
Indonesia, PT. Danone Indonesia, PT. Indofood Sukses Makmur, PT. Nestle
Beverages Indonesia, PT. Ajinomotor Indonesia, PT. Aventis
Indonesia, PT. Bayer Indonesia, P.T. Pfizer Indonesia, etc. Besides, P.T. MENSA is also active in investment holding by
controlling 35% shares of PT. OTTO PHARMACEUTICAL is engaged in pharmaceutical
manufacturing. We observe that P.T.
MENSA is classified as a large sized company of its kind in the country of which
the operation has been growing in the last three years.
Generally outlook, the demand for
pharmaceutical raw materials, food ingredient, feed meals, cosmetic and medical
devices has kept on growing by 8% to 10% until early 1997 in line with the growing
activities of pharmaceutical industries, food and beverage industries, cosmetic
industries and others. It is projected
the demand will rise by about 5% to 6% per year within the coming three years.
Competition is very tight due to a large number of similar local and imported
products are marketed locally. Business position of P.T. MENSA is not so
critical for it has controlled a wide marketing network and customers in the
country.
According
to statement of income (source: the Department of Trade and Industry), the
total sales/revenue of P.T. MENSA in fiscal 2009 amounted to Rp. 740.0 billion
with a net profit of Rp. 36.1 billion increased to Rp. 803.7 billion with a net
profit of Rp. 41.6 billion in 2010. Up
to present, we have yet to gain the statement of income of P.T. MENSA in fiscal
2011. However, we estimated that net
income of the company in 2011 rose again to Rp. 872.0 billion with a net profit
of Rp. 45.2 billion. The company’s
balance sheets and statement of income in fiscal 2009 and 2010 are
attached. So far we did not hear that
the P.T. MENSA has been black listed by Bank Indonesia (Central Bank) or having
detrimental cases being settled in local district court. The company usually pays its debts punctually
to suppliers.
The management is handed by Mr. Jimmy Sudharto (63), a businessman with
experience for more than 32 years in the trading of pharmaceuticals raw
material and pharmaceutical products. In daily activities, he is assisted by his
son Mr. Budi Jonathan Sudharta AKA Jonathan Sudharta (31). The management is
also handled by a number of professional staff, having maintained a wide
business relation with private businessmen at home and abroad as well as with
government sector. So far, we did not hear that the company’s management
involved in the 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. MENSA is
appraised a good enough for business transaction. But owing to economic
condition in the country is still unstable, we recommend to treat prudently in
extending any new loan to the company.
Attachment:
P.T.
MENJANGAN SAKTI
Financial
Statement
As
of 31 December 2009 and 2010
(Expressed
in Rupiah/IDR)
|
DESCRIPTION |
31 December |
|
|
2010 |
2009 |
|
|
A. ASSETS |
|
|
|
Current Assets |
|
|
|
- Cash on hand and in banks |
32,043,766,523 |
12,612,619,384 |
|
- Time Deposit |
1,269,040,809 |
-- |
|
- Trade Receivables: * Related Parties * Third Parties |
150,656,280,190 107,820,079,638 |
120,749,029,580 85,667,434,960 |
|
- Other Receivables |
1,220,726,664 |
2,094,676,955 |
|
- Inventories |
148,108,340,240 |
89,986,300,999 |
|
- Prepaid Taxes |
-- |
9,559,668,816 |
|
- Advances and Prepaid Expenses |
2,253,987,128 |
20,611,677,254 |
|
- Due from Related Parties |
13,720,361,610 |
-- |
|
TOTAL CURRENT
ASSETS |
457,092,582,802 |
341,281,407,948 |
|
|
|
|
|
Non-Current
Assets |
|
|
|
- Property, Plant and Equipment - net |
10,647,130,061 |
8,124,552,978 |
|
- Investment in Shares of Stock |
59,267,946,300 |
41,538,326,235 |
|
- Deferred Tax Assets |
3,360,131,565 |
5,381,167,582 |
|
- Others Asset |
125,300,000 |
116,574,346 |
|
TOTAL
NON-CURRENT ASETS |
73,400,507,926 |
55,160,621,141 |
|
|
|
|
|
TOTAL ASSETS =
TOTAL LIABILITIES & SHAREHOLDERS’
EQUITY |
530,493,090,728 |
396,442,029,089 |
|
|
|
|
|
B. LIABILITIES
& SHAREHOLDERS EQUITY |
|
|
|
Current
Liabilities |
|
|
|
- Bank Loans |
190,639,450,769 |
160,564,955,228 |
|
- Trade Payable |
110,429,384,236 |
50,876,687,514 |
|
- Other Payable |
1,833,670,551 |
3,002,552,144 |
|
- Taxes Payable |
3,316,209,249 |
5,394,816,172 |
|
- Unearned Revenue |
8,539,472 |
53,453,251 |
|
- Accrued Expenses |
1,213,600,758 |
692,831,777 |
|
- consumer Financing |
1,792,826,146 |
499,365,739 |
|
Total Current
Liabilities |
309,233,691,181 |
221,084,661,825 |
|
Non-Current
Liabilities |
|
|
|
- Estimated Liabilities for Post-Employment Benefits |
12,282,453,857 |
10,627,469,027 |
|
- Consumer Financing |
424,451,498 |
-- |
|
- Other Long-term Payable |
15,961,018,344 |
13,636,602,148 |
|
Total
Non-current Liabilities |
28,667,923,699 |
24,264,071,175 |
|
|
|
|
|
SHAREHOLDERS’
EQUITY |
|
|
|
- Authorized, Issued and Paid up Capital |
15,000,000,000 |
15,000,000,000 |
|
- Revaluation Increment in fixed assets |
-- |
164,008,860 |
|
- Retained earnings |
177,591,475,848 |
135,929,287,229 |
|
TOTAL
SHAREHOLDERS’ EQUITY |
192,591,475,848 |
151,093,296,089 |
|
|
|
|
|
C. INCOME
STATEMENT |
|
|
|
a. Net Sales/Revenue |
803,666,460,751 |
739,956,254,287 |
|
b. Cost of Goods Sold |
(695,044,561,064) |
(657,447,591,646) |
|
c. Gross Profit |
108,621,899,687 |
82,508,662,641 |
|
d. Operating Expenses |
(46,203,508,071) |
(37,975,235,774) |
|
e. Operating Income |
62,418,391,616 |
44,533,426,867 |
|
f. Other Income (Charges) |
(4,700,007,986) |
3,187,110,428 |
|
g. Income Before Provision
for Income Tax |
57,718,383,630 |
47,720,537,295 |
|
h. Provision for Income Tax |
(16,140,683,017) |
((11,628,960,478) |
|
i.
Net Income / Net Profit |
41,577,700,613 |
36,091,576,817 |
Remarks: Audited by Johan Malonda Mustika & Rekan,
a public accountant
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.79 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
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.