MIRA INFORM REPORT
|
Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
P.T. BASUKI PRATAMA ENGINEERING |
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|
|
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Registered Office : |
Jalan Pulo Lentut
No. 2, Kawasan Industri Pulogadung, Jakarta Utara, 13920 |
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Country : |
Indonesia |
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Date of Incorporation : |
16.07.1981 |
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|
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Com. Reg. No.: |
No.
AHU-54362.AH.01.02.TH.2008 |
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|
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|
Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Engineering and
Manufacturing of Industrial Drying Equipments |
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|
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No. of Employees
: |
380 |
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 |
|
Maximum Credit Limit : |
US$ 710,500 |
|
Status : |
Satisfactory |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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. BASUKI PRATAMA ENGINEERING
Head Office & Factory
Jalan Pulo Lentut
No. 2
Kawasan Industri
Pulogadung
Jakarta Utara,
13920
Indonesia
Phones -
(62-21) 460 3212 (Hunting)
Fax - (62-21) 460 3220
E-mail - bpe@indo.net.id
Website - http://www.basukiengineering.com
Building Area - 1 storey
Office Space - 230 sq. meters
Region - Commercial
Building
Status - Rent
16 July 1981
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry
of Law and Human Rights
No.
AHU-54362.AH.01.02.TH.2008
Dated 25 August
2008
Private National Company
The Department
of Finance
NPWP No.
01.318.344.7-007.000
The Department
of Industry
No.
0116/Prind/LD/0009/A/89
Dated 4 June 1989
A Member Company of the BASUKI Group (see attachment)
Capital
Structure :
Authorized
Capital : Rp.
10,000,000,000.-
Issued Capital : Rp. 5,000,000,000.-
Paid up Capital : Rp. 5,000,000,000.-
Shareholders/Owners
:
a. Mrs. Dra.
Asihningrum -
Rp. 3,750,000,000.-
Address : Jl. Janur Elok V QD
6/17, RT. 008 RW. 006
Jakarta Utara
Inddonesia
b. Mr.
Johannes Sujanto Basuki -
Rp. 1,250,000,000.-
Address : Jl. Kelapa Cengkir Timur Block III EH 1/14
RT. 018 RW. 009, Kelapa
Gading
Jakarta Utara
Indonesia
Lines of
Business :
a. Engineering and Manufacturing of Industrial
Drying Equipments
b. Assembling of Air Pollution Controls and
Boilers
Production
Capacity :
a. Dryers, Spray Boots, Ovens and Impregnations - 190
units p.a.
b. Boilers (0.5 – 3.0 tons) - 1,000
units p.a.
Total
Investment :
a. Owned Capital -
Rp. 5.0 billion
b. Loan Capital -
Rp. 2.8 billion
c. Total Investment - Rp. 7.8 billion
Started
Operation :
1981
Brand Name :
Basuki Pratama
Engineering
Technical
Assistance :
BABCOK of Germany
Number of
Employee :
380 persons
Marketing Area
:
Local -
80%
Export -
20%
Main Customers
:
a. Oil and Gas
Industries
b. Coal Mining
Industries
c. Palmshell
Industries
d. Woob Based
Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. BOUSTEAD
MAXITHERM INDUSTRIES
b. P.T. CILEGON
FABRICATORS
c. P.T. GRAND
KARTECH
d. P.T. HITACHI
CONSTRUCTION MACHINERY INDONESIA
e. Etc.
Business Trend
:
Growing
Bankers :
a. P.T. Bank
RAKYAT INDONESIA Tbk
BRI II Building
Jalan Jend. Sudirman Kav. 44
Jakarta Pusat
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Menara BCA Grand Indonesia
Jalan M.H. Thamrin No. 1
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
The Subject was involved in controversial dispute with P.T.
HITACHI CONSTRUCTION MACHINERY INDONESIA (as defendant) in connection industrial
design of boilers products, was recorded on No. 06/Desain
Industri/2006/PN/Jkt.Pst, jo Supreme Court No. 019/N/HAKI/2008.
Annual Sales
(estimated) :
2009 – Rp. 50.0
billion
2010 – Rp. 52.0
billion
2009 – Rp. 54.0
billion
Net Profit
(estimated) :
2009 – Rp. 4.2
billion
2010 – Rp. 4.5
billion
2011 – Rp. 4.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Johannes Sujanto Basuki
Directors -
a. Mr. Tonni Muliawan
b. Mr. Johannes Leo Budiman
Board of Commissioners :
President Commissioner -
Mrs. Dra. Asihningrum
Commissioners -
a. Mr. Fransiscus Xaverius Affandhi Basuki
b. Mr. Ir. Rudyanto Guntoro
Signatories :
President Director (Mr.
Johannes Sujanto Basuki) or one of the Directors (Mr. Tonni Muliawan or Mr.
Johannes Leo Budiman) which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
Maximum Credit Limit :
US$ 710,500 on 90
days D/A
P.T. BASUKI PRATAMA ENGINEERING (P.T. BPE) was set-up in July 1981 with an authorized capital of Rp. 50,000,000 issued capital of Rp. 20,000,000 wholly paid-up. Founders and original shareholders were Mr. Widagdo Basuki Stepanus and his younger brother Mr. Johannes Sujanto Basuki, Indonesian businessmen of Chinese extraction. It’s articles of association has subsequently been changed for several times. In August 1992, the authorized capital was increased to Rp. 2,000,000,000 wholly issued and paid-up. On the same occasion, Mr. Johannes Sujanto Basuki pulled-out and replaced by Mrs. Asihningrum as new shareholder. Later in June 2008 the authorized capital was increased to Rp. 10,000,000,000 issued capital to Rp. 5,000,000,000 fully and paid up. On the same occasion Mr. Widagdo Basuki Stepanus with drew and the whole shares sold to Mr. Johannes Sujanto Basuki. With this development the composition of its shareholders has been changed to become Mrs. Asihningrum (75%) and Mr. Johannes Sujanto Basuki (25%). The latest revision of notary deed was made by Mr. Maman Suhirman Martamihardja, SH., was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-54362.AH.01.02.TH.2008, dated August 25, 2008.
P.T. BPE started with operation in 1981 in trading and the sole agent for woodworking machinery, special dryer, spray booth, impregnation plant and oven. In 1982 its business has been expanding into assembling woodworking machinery and air pollution control. In the production of the above products, P.T. BPE adopts KELLER LUFTTECHNIK technology of Germany. In 1991, its business expanded in boiler manufacturing which gained technological assistance from BABCOCK LETTCES KLASTWELK TECHNIK also of Germany. Expanding on the concept of being customer oriented with first-class quality as its primary focus, P.T. BPE's specially-designed timber industry Kiln Drying System was well accepted by the country's private sector as well as government-owned enterprises. Sold beyond the national boundaries to countries such as Vietnam and Japan, extensive expertise obtained in the production of Kiln Drying System has allow P.T. BPE to expand into the production of boilers, pollution control system, heaters, timber impregnation plant and centrifugal fan.
As an entity concerning with cost effectiveness, the company has
pioneered Coal-fired Boiler and Coal-fired Thermal Oil Heater, a mainstay of
recent production, fulfill contemporary customer demands for efficient,
low-running cost units that will serve industrial needs for years with minimum
maintenance or service requirement. P.T. BPE is very proud of its track record
in the field of Boiler and Thermal Oil Heater using energy from coal as well as
other solid fuel such as rice husk, palm shell or wood waste, etc. The type’s products
and services are Fluidized Bed Boilers; Boiler Using Chain Grate Stoker;
Thermal Heaters Using Fluidized Bed Combustor; Thermal Oil Heaters Using Chain
Grate Stoker; Oil/Gas Fired Thermal Oil Heater; Wood Waste Fired Boiler; Hot
Water Generators; Co-Generation Plant; Dust Collection Systems; Centrifugal
Fans; Timber Kiln Dryers and Spare Part and Services. Mr. Johannes Leo Budiman,
marketing director disclosed that the products in the form of woodworking
machinery are marketed to various numbering industries in Jakarta, West Java,
Central Java and Kalimantan.
Meanwhile, its air pollution control and boilers are sold to various industrial companies such as oil and gas industries, textile industries, chemical industries, palm industries, coal industries, and others. The customers are P.T. HAKATEX, P.T. BUDI ACID JAYA Tbk, P.T. TIRTHA RIA, P.T. BADJATEX, P.T. BINTANG MITRA TEXINDO, P.T. BINTANG AGUNG, P.T. UTAMA INTI HASIL KIMIA INDUSTRI, P.T. MADUBARU, P.T. PAPYRUS SAKTI PAPER MILL, and other industries.
Besides the products is also exported to Singapore, Malaysia, Vietnam, Tanzania, Philippines, Pakitan, New Guinea, Australia, New Zealand, Vanuatu, United Kingdom and USA. To support its operation, P.T. BPE provides air pollution controls installation services. We observe the operation of P.T. BPE has been growing and developing well in the last three years.
Generally outlook, the demand for industrial boilers had kept on rising by 7% to 9% per annum in the last five year in line with the rapid growth of industrial sectors as users, but later declined under the impact of global economic crisis since October 2008. The crisis caused the imported basic materials and operation cost to sky rocket amid the sluggish purchasing power. The business position of the company is still favorable for the management has built fixed customers and wide marketing network in the country.
Besides, the Indonesian economy has weathered the storm and is currently accelerating. As for the global economy, it is also in a recovery phase and this recovery is expected to continue in 2010. Overall, the prospects for the Indonesian economy in 2010 are brighter than in 2009. The global economic recession has exerted significant downward pressures on the Indonesia economy. In the first quarter of 2009 the economy grew by 4.4 percent, or significantly lower than in the fourth quarter of 2008 when the economy grew by 5.2 percent and lower than in the third quarter of 2008 when the economy grew by 6.4 percent. Eventually, the impact of the fiscal and monetary stimuli on the economy could be seen. This was reflected in the brisker pace of growth in Indonesia despite the global economic recession. In the second quarter of 2009 the Indonesian economy grew by 4.0 percent, and in the third quarter of the year it grew by 4.2 percent. The economic is expected to accelerate further in the fourth quarter of 2009. Ant for the whole of 2009 the Indonesian economy is expected tot grow by 4.7 percent and 6.0 percent in 2010. Several factors support brisker economic growth in 2010. First, the global economic conditions are expected to be better in 2010 than in 2009. This is evident in the global economic recover that is expected to continue well into 2010. The US economy, for example, is expected to grow by 2.5 percent in 2010 compared to a contraction of 2.4 percent in 2009. Meanwhile, the Japanese economy is predicted to grow by around 1.2 percent in 2010 in contrast to an expected contraction of around 5.7 percent in 2009. As for Europe, it is expected to grow by 1.1 percent in 2010 compared to an expected contraction of around 3.8 percent in 2009. Against this backdrop, Indonesian exports are expected to grow by 12.9 percent 2010.
Indonesia’s economic growth in 2008, 2009 and forecast for 2010
|
No. |
Sector |
2008 |
2009 |
2010 |
|
1. |
Agriculture |
4.8 |
3.6 |
3.3 |
|
2. |
Mining and Quarrying |
0.5 |
3.7 |
3.7 |
|
3. |
Manufacturing |
3.7 |
2.2 |
2.2 |
|
4. |
Electricity, Gas, and Clean Water |
10.9 |
13.4 |
13.4 |
|
5. |
Construction |
7.3 |
7.1 |
7.0 |
|
6. |
Trade, Hotel, and Restaurant |
7.2 |
1.2 |
5.8 |
|
7. |
Transportation and Communication |
16.7 |
17.4 |
16.7 |
|
8. |
Finance, Leasing and Business Services |
8.2 |
5.5 |
6.3 |
|
9. |
Services |
6.4 |
6.7 |
6.9 |
|
Gross Domestic Product (GDP) |
6.1 |
4.7 |
6.0 |
|
Source: Indonesia Economic Almanac 2010 by Bisnis Indonesia
Until this time P.T. BPE has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. BPE 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. 50.0 billion rose to Rp. 52.0 billion in 2010 increased to Rp. 54.0 billion in 2011 and projected to go on rising by at least 5% in 2012. The operation in 2011 yielded an estimated net profit of at least Rp. 4.8 billion and the company has an estimated total net worth of at least Rp. 15.0 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. BPE is led by Mr. Johannes Sujanto Basuki (55) a businessman and professional manager with experience in boiler assembling and trading. He has not the benefit of high formal education background. He finished only a woodworking technical school (PIKA) in Semarang in 1975, and thereafter attended mechanics courses organized by Hildebrandt in Germany and Singapore. He also took part in salesmanship courses in Jakarta and Singapore. Mr. Basuki is a hardworking, persevering and aggressive businessman. He started as a woodworking machinery salesman before he founded his own company in 1981. 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. P.T. BASUKI PRATAMA ENGINEERING is sufficiently fairly good for business transaction.
Attachment:
List of the BASUKI Group Members
1.
BASUKI ENERGI, P.T. (Energy Services)
2.
BASUKIGRAHA FABRIKATAMA, P.T. (Fortacamp Manufacturing)
3.
BASUKI PRATAMA ENGINEERING, P.T. (Engineering and
Manufacturing of Industrial Drying Equipment and Assembling of Air Pollution
Control and Boilers)
4.
BINAWIDYA CATURDAYA, P.T. (Contracting Services)
5.
CUPRINDO WANADAYA, P.T. (Trading and Distribution of
Chemical)
6.
INTERTOOL WAHANA, P.T. (High Precision Tools for Woodbased
Industry)
7.
REKABOILER UTAMA, P.T. (Trading and Distribution of Boiler
System Machinery)
8.
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.02 |
|
UK Pound |
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.18 |
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.