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Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. TIGA SRIKANDI JAYA |
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Registered Office : |
Jalan Raya Penggilingan, Taman Pulo Indah Block M No. 19, |
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Country : |
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Date of Incorporation : |
26.07.2002 |
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Com. Reg. No.: |
No. AHU-AH.01.10-25174 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Trading,
Import, Distribution and Supply of Specialty Chemicals |
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No. of Employees : |
15 |
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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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. TIGA SRIKANDI JAYA
Head Office
Jalan Raya
Penggilingan
Taman Pulo Indah Block M No. 19
Jakarta Timur,
13940
Indonesia
Phones -
(62-21) 4803288, 4802118
Fax - (62-21) 4803299, 4873036
E-mail - srikandi3@cbn.net.id
Website - http://www.tigasrikandijaya.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
26 July 2002
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No. C-17197 HT.01.01.TH.2002
Dated 6 September 2002
- No. AHU-49740.AH.01.02.TH.2008
Dated 11 August 2008
- No. AHU-AH.01.10-25174
Dated 5 October 2010
Private National
Company
The Department of Finance
NPWP No.
02.010.160.6-004.000
The Department of Industry and Trade
TDP No. 090415117934
Dated 9 October
2002
None
Capital
Structure :
Authorized
Capital : Rp.
2,000,000,000.-
Issued Capital : Rp. 800,000,000.-
Paid up Capital : Rp. 800,000,000.-
Shareholders/Owners
:
a. Mr. Johan Adria Lie - Rp.
480,000,000.-
Address :
Taman Pulo Indah Block P I No. 48, RT. 002
RW. 018,
Kelurahan Penggilinag, Kecamatan
Cakung, Jakarta
Timur
Indonesia
b. Mrs. Inge Listiani Pang - Rp. 270,000,000.-
Address : Taman Pulo Indah
Block P I No. 48, RT. 002
RW. 018,
Kelurahan Penggilinag, Kecamatan
Cakung, Jakarta
Timur
Indonesia
c. Mr. Lie Kian Sin -
Rp. 50,000,000.-
Address : Jl. Pademangan III
Gang 19 No. 268, RT. 008
RW. 007,
Kelurahan Pademangan Timur,
Kecamatan,
Pademangan, Jakarta Utara
Indonesia
Lines of
Business :
Trading, Import,
Distribution and Supply of Specialty Chemicals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
August 2002
Brand Name :
Tiga Srikandi
Jaya
Technical
Assistance :
None
Number of Employee
:
15 persons
Marketing Area
:
Local - 100%
Main Customer
:
Pharmaceutical
Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ANEKA
CHEMICA
b. P.T. BRATACO
c. P.T. TRICIPTA BUANA KARSA
d. P.T. WARIS
e. Etc.
Business Trend
:
Growing
Bankers :
a. P.T. Bank
MANDIRI Tbk
Jalan Raya Penggilingan No. 40
Cakung
Jakarta Timur
b. P.T. Bank CENTRAL ASIA Tbk
Jalan Raya Bekasi Km. 17 No. 30
B-C
Jakarta
Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 12.7
billion
2010 – Rp. 13.5
billion
2011 – Rp. 14.3
billion
Net Profit
(estimated) :
2009 – Rp. 0.6
billion
2010 – Rp. 0.7 billion
2011 – Rp. 0.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Johan Adria Lie
Board of Commissioners :
President Commissioner -
Mrs. Inge Listiani Pang
Commissioner -
Mr. Lie Kian Sin
Signatories :
Director (Mr. Johan
Adria Lie) which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
P.T. TIGA SRIKANDI JAYA (P.T. TSJ) was incorporated in Jakarta based on notary deed of Mr. Drs. Wijanto Suwongso, SH., No. 69 dated 26 July 2002 with the authorized capital of Rp. 500,000,000 issued capital of Rp. 210,000,000 entirely paid up. The founding shareholders of the company are Mr. Johan Adria Lie, his wife Mrs. Inge Listiani Pang and Mr. Lie Kian Sin, they are Indonesian businessmen of Chinese origins. The company notary deed has been changed and according to the revision of notary documents of Mr. Ichsan Tedjabuana, SH., No. 211 dated 23 July 2008 the company authorized capital was increased to Rp. 2,000,000,000 issued capital to Rp. 500,000,000 entirely paid up.
Then according to the latest revision of notary deed of Mr. Ichsan Tedjabuana, SH., No. 57 dated 23 September 2010 the issued capital was raised to Rp. 800,000,000 entirely paid up. With this development the composition of its shareholders has been changed to become Mr. Johan Adria Lie (60%), Mrs. Inge Listiani Pang (33.75%) and Mr. Lie Kian Sin (6.25%). The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-25174 dated October 5, 2010.
P.T. TSJ started to be operating since August 2002 dealing with trading, import, distribution and supply of specialty chemical for pharmaceutical and food industries. The merchandise goods products are Ascorbic Acid, Citric Acid, Benzoic Acid, Sodium Benzoate, Artificial Sweetener, Aceclofenac SR 50%, Abiterol/Salbutanol, Allopurinol SR 70%, Caffein, Ciprofloxacin HCL and other products. The company sells and authorized distributor for ANHUI WANHE, CSPC Weisheng Pharmaceutical (Shijiazhuang) Co, Ltd, LIANYUNGANG HANTANG, NORTH CHINA Pharmaceutical Co, Ltd., RZBC Imp. & Exp. Co, Ltd., WEIFANG ENSIGN; WUHAN YOUZI and YANTAI ANDRE PECTIN all of China; BIOGEN EXTRACTS PVT LTD, HYGRO CHEMICALS PHARMTEK, ORCHEV Pharma, UNIQUE BIOTECH, SPANSULES Formulations, SUPREEM Phamaceuticals and WINCOAT Colours & Coatings all of India; FERY & LAU GmbH, HENRY LAMOTTE GmbH, both of Germany; KERN PHARMA of Spain and OSMO PHARM of the Switzerland. The whole products supplied to various pharmaceutical industries and food & beverages industries which operating in Jakarta, Semarang and Bandung. We observe the operation of P.T. TSJ has been growing and developing well in the last three years.
Generally, demand for laboratory and medical equipment and various pharmaceutical products had been growing in the last five years up to the end 2007 as pictured in sales value of national pharmaceutical products, import value and export value issued by the Food and Drug Controlling Board (BPOM). The national pharmaceutical sales, export and import value of products are estimated to be rising by 6% to 8% in the next year. The competition is very tight on account many similar companies operating in the country. The business position of P.T. TSJ is a sufficiently fairly good because the company has captive market namely the state-owned hospital and private hospital in the country. According the BPOM that national pharmaceutical sales as shown are as the following table.
National Market Trend of Drugs, 2001-2010 (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 |
12.850 15.483 17.458 20.872 23.629 23.173 25.600 29.981 33.965 37.531 |
7.891 9.618 10.829 12.706 14.675 13.834 13.959 16.969 19.225 21,142 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 3,213 3.420 3.610 |
Source:
Food and Drug Controlling Board (BPOM)
Until this time P.T. TSJ has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. TSJ 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. 12.7 billion rose to Rp. 13.5 billion in 2010 increased to Rp. 14.3 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. 0.8 billion and the company has an estimated total networth of at least Rp. 2.0 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. TSJ is led by Mr. Johan Adria Lie
(50) a businessman and professional manager with experience in trading, import
and distribution of specialty chemical for pharmaceutical and food industries.
The company's management is handled by professional 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. We are convinced P.T. TIGA SRIKANDI JAYA is sufficiently fairly good
for business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.01 |
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UK Pound |
1 |
Rs.87.85 |
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Euro |
1 |
Rs.70.54 |
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.