MIRA INFORM REPORT
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Report Date : |
16.03.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. DHARMA COLOUR ABADI |
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Registered Office : |
Sentra Niaga Boulevard
Hijau Kav. 7/09, Kel. Pejuang, Kec. Medan Satria, Bekasi 17131, West Java |
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Country : |
Indonesia |
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Date of Incorporation : |
17.08.2008 |
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Com. Reg. No.: |
No.
AHU-AH.01.10-13131 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading, Import
and Distribution of Industrial Chemicals |
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No. of Employees
: |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 220,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Indonesia |
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. DHARMA COLOUR ABADI
Head Office
Sentra Niaga Boulevard Hijau Kav. 7/09
Kel. Pejuang, Kec. Medan Satria
Bekasi 17131, West Java
Indonesia
Phones -
(62-21) 8887 0390
Fax - (62-21) 8880 804
E-mail - bsumantri@dharmacolourabadi.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
17 August 2008
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
- No. AHU-61403.AH.01.01.Tahun 2008
Dated 11 September 2008
- No. AHU-AH.01.10-13131
Dated 31 May 2009
National Private
Company
The Department of
Finance
NPWP No. – not
available
a. P.T. BUKIT
SURYA MAS (Trading and exporter of Rubber Masterbatch)
b. P.T. BUKIT
WARNA ABADI (Trading and Distribution of Food Chemicals)
Capital
Structure :
Authorized
Capital - Rp.
1,000,000,000.-
Issued Capital - Rp. 500,000,000.-
Paid up Capital - Rp. 500,000,000.-
Shareholders/Owners
:
a. Mr. Ir.
Stefanus Tjetje Wirjadi - Rp. 335,000,000.-
Address : Harapan Indah Blok HG/4
Kel. Pejuang, Kec. Medan Satria
Bekasi, West Java
b. Mr. Bambang
Sumantri - Rp. 165,000,000.-
Address : Harapan Indah Blok PK
No. 17
Kel. Pejuang, Kec. Medan Satria
Bekasi, West Java
Lines of
Business :
Trading, Import
and Distribution of Industrial Chemicals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
September 2008
Brand Name :
Dharma Colour
Abadi
Technical
Assistance :
None
Number of
Employee :
30 persons
Marketing Area
:
Local - 100%
Main Customers
:
a. PT. Danapaint
Indonesia
b. PT. Nipsea
Paint Indonesia
c. PT. Pabrik Cat
Pacific Paint
d. PT. Ultra Prima
Abadi
e. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. BRENNTAG
b. P.T. GALIC BINA MADA
c. P.T. PANCASAKTI PRAKARSAMULYA
d. P.T. TRIMITRA SEJATI TANNINDO
e. Etc.
Business Trend
:
Growing
Banker :
P.T. Bank OCBC NISP Tbk.
Kelapa Gading Branch
Jl. Boulevard Blok FV 1/23
Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 12.8
billion
2010 – Rp. 14.5
billion
2011 – Rp. 16.2
billion
Net Profit
(estimated) :
2009 – Rp. 640
million
2010 – Rp. 710
million
2011 – Rp. 820
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Bambang Sumantri
Board of Commissioners :
Commissioner -
Mr. Ir. Stefanus Tjetje Wirjadi
Signatories :
Director (Mr. Bambang
Sumantri) which must be approved by Board of Commissioner (Mr. Ir. Stefanus
Tjetje Wirjadi)
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$ 220,000 on 90
days D/A
P.T. DHARMA COLOUR ABADI (P.T. DCA) was established in Jakarta on August 2008 with the authorized capital of Rp. 500,000,000.- of which Rp. 100,000,000.- was issued and fully paid up. The founding shareholders of the company are Mr. Ir. Stefanus Tjetje Wirjadi (67%) and Mr. Bambang Sumantri (33%), both are Indonesian businessmen of Chinese extraction. The deed of company was made by Ms. Berliana Utami, SH., a public notary in Jakarta and it was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-61403.AH.01.01.Tahun 2008 dated September 11, 2008.
The company notary deed has been changed and in January 2010 the authorized capital was raised to Rp. 1,000,000,000.- of which Rp. 500,000,000.- was issued and fully paid up. But, no changes have been effected in term of its shareholding composition and capital structures to date. The amendment of notary act was made by Ms. Berliana Utami, SH., was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-AH.01.10-13131, dated May 31, 2010.
P.T. DCA obtained a private company to deal with trading, import and
distribution of chemical products having been in operation since September
2008. Ms. Yokebeth, a marketing staff of
the company explained that the chemical products being sold are chemical
products for paint, plastic, textile, leather and others. The merchandise products include pigment,
coloring matters, solvent, dyestuff and others.
Whole merchandise products are imported from China, India and Belgium
and they sold to various paint industries, plastic product industries, textile
industries, leather tannery industries and others in Jakarta, Bogor, Tangerang,
Bekasi (Jabotabek) and surroundings. We
observed that P.T. DCA is classified as a small sized company of its kind in
the country of which the operation has been growing in the last three years.
The domestic demand for various types of chemical products had been rising by 8% to 10% on the average per annum in the last five years in line with the rapid growth of various industrial sectors including paint industry, plastic, ink, textile, rubber, printing and others in the above period of times as the consumers. But, later dwindled as the global economic slowdown since October 2008, followed by tight money policy imposed by Indonesian Central Bank (Bank Indonesia) and also heated by political issue in the country. The demand growth started to awake in June 2009 in line with the amelioration of economic condition in the country. Market competition is very tough on account of large number of other similar companies operating in the country. P.T. DCA business position in this case is not too badly because it has built regular customers and extensive marketing network all across the country.
Until this time P.T. DCA has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. DCA 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. 12.8 billion increased to Rp. 14.5 billion in 2010 rose again to Rp. 16.2 billion in 2011 and projected to go on rising by at least 8% in 2011. The operation in 2011 yielded an estimated net profit of at least Rp. 820 million and the company has an estimated total networth of at least Rp. 1.0 billion. We observe that P.T. DCA is supported by businessmen with has financially strong and sound behind it. 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. DCA is led by Mr. Bambang Sumantri
(52) as director, a businessman with experience in trading, import and
distribution of industrial chemicals. In
daily activities, he is assised by Mr. Ir. Stefanus Tjetje Wirjadi (48) as
commissioner. 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. DHARMA COLOUR
ABADI is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.22 |
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UK Pound |
1 |
Rs.78.64 |
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Euro |
1 |
Rs.65.54 |
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.