|
Report Date : |
21.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDUK KOPERASI
TNI ANGKATAN DARAT (INKOPAD) |
|
|
|
|
Registered Office : |
Inkopad Building Jalan Letjend. S. Parman Kav. 97 Tomang Jakarta Barat, 11410 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Year of Establishment : |
1964 |
|
|
|
|
Legal Form : |
Cooperatives |
|
|
|
|
Line of Business : |
Investment Holding |
|
|
|
|
No. of Employees : |
75 persons |
RATING & COMMENTS
|
MIRAs 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$ 259,200 |
|
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 September 30, 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 |
INDUK KOPERASI TNI ANGKATAN DARAT (INKOPAD)
Head Office
Inkopad Building
Jalan Letjend. S. Parman Kav. 97
Tomang
Jakarta Barat, 11410
Indonesia
Phones -
(62-21) 5658514, 5659306, 6690401
Fax - (62-21) 5658994
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Commercial
Building
Status - Owned
Branch and Warehouse
Jalan Kalibesar
Barat No. 16-17
Jakarta Barat,
14440
Indonesia
Phones -
(62-21) 6923025 (Hunting)
Fax - (62-21) 6900785
Land Area - 2,500 sq.
meters
Office Space - 2,000 sq.
meters
Region - Commercial
Status - Owned
Date of Incorporation :
1964
Legal Form :
Cooperatives
Company Reg.
No. :
Not Required
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Cooperative
No.
03/BH/PAD/M/M.I/V/1995
Dated 22 May 1995
The Government of the Republic of Indonesia
- UU No. 25/1992
- UU No. 34/2004
Related
Companies :
a. P.T. AGROSILVA BETA KARTIKA (Oil Palm
Plantation)
b. P.T. Bank YUDHA BAKTI (Banking)
c. P.T. DARMA
MANDALA (Hospital Management)
d. P.T. INTERNATIONAL TIMBER CORPORATION INDUSTRY
(Woodworking Industry)
e. P.T. KARTIKA
INTI PERKASA (Oil Palm Plantation)
f. P.T. MINA
KARTIKA SEJATI (Fish Catching)
g. P.T.
REKA DAYA KARTIKA (Real Estate Development)
h. P.T. SUMBAHAN WIRA KARTIKA (Transport and
Distribution, and Bulk LPG Processing)
i. P.T. TRI USAHA BHAKTI (Investment Holding)
j. P.T. YAMAKER (Forestry Concession)
k. YAYASAN KARTIKA EKA PAKSI (Social Foundation)
Capital
Structure :
Authorized
Capital : Rp.
3.0 billion
Shareholders/Owners
:
Indonesian Army Members (TNI Angkatan Darat)
Lines of
Business :
a. Investment
Holding
b. Cooperative
Consumer Association Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1964
Brand Name :
Inkopad
Technical
Assistance :
None
Number of
Employee :
75 persons
Marketing Area
:
Local - 100%
Main Customer
:
All members of
Indonesia Army
Market
Situation :
Very Competitive
Main
Competitors :
a. INDUK KOPERASI
TNI ANGKATAN LAUT (INKOPAL)
b. INDUK KOPERASI
TNI ANGKATAN UDARA (INKOPAU)
c. INDUK KOPERASI TEMPE INDONESIA (INKOPTI)
d. INDUK KOPERASI VETERAN REPUBLIK INDONESIA (INKOVERI)
Business Trend
:
Growing
B a n k e r :
P.T. Bank BUKOPIN
Jalan M.T. Haryono Kav. 50-51
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 Rp. 17.0
billion
2010 Rp. 18.5
billion
2011 Rp. 19.7
billion
Net Profit
(estimated) :
2009 Rp. 1.5
billion
2010 Rp. 1.7
billion
2011 Rp. 1.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
General Chairman -
Mr. Brigjend. TNI-AD Bernhard Limbong
General Secretary -
Mr. Lieut. Col. Edeng Darmawan
Treasury -
Mr. Col. Tengku Syahrul
Board of Commissioners :
None
Signatories :
General Chairman (Mr.
Brigjend. TNI-AD Bernhard Limbong) or General Secretary (Mr. Lieut. Col. Edeng
Darmawan) or Treasury (Mr. Col. Tengku Syahrul)
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount
periodical review
Maximum Credit Limit :
US$ 259,200 on 90
days D/A
The full
official name of the above business organization is Induk Koperasi
Tentara Nasional Indonesia Angkatan Darat abbreviated INKOPAD. This
business body was established in 1964 under the legal status of a cooperative
by the Indonesian Army (TNI-AD). INKOPAD is an extra structural part of the
Indonesian Army with the task of managing various business activities, de
veloping and leading lower level cooperatives called Pusat Koperasi
Tentara Nasional Indonesia Angkatan Darat (PUSKOPAD). INKOPAD now
is in charge of more than 10 PUSKOPAD units based in scattered Army
headquarters across the country.
INKOPAD has been
in operation since 1964 in various business activities, with the aim of
assisting the Indonesian Army's command (leadership) in raising funds for the
welfare of Army personnel still on active duty. Mr. Lieut. Col. Edeng Darmawan,
secretary of INKOPAD, said originally INKOPAD did not engage in any direct
business activity, but has been active in investment holding as a shareholder
of P.T. Bank YUDHA BAKTI (banking), P.T. REKA DAYA KARTIKA (real estate
development), P.T. MINA KARTIKA (fish catching), P.T. DARMA MANDALA (hospital
management), P.T. INDONESIA TIMBER CORPORATION INDUSTRY (woodworking industry),
P.T. YAMAKER (forestry concession) and P.T. AGROSILVA BETA KARTIKA (oil palm
plantation), etc. However since 2004, INKOPAD has been actively in trading,
import and distribution of food and beverages. The INKOPAD import of canned
food from Thailand, Singapore, China, India and others countries. The whole of
merchandising goods supplied to a number of cooperatives (PUSKOPAD, KOPAD) and
other cooperatives under the wing of Army cooperatives spreading in the
country. Besides, INKOPAD is also cooperation with P.T. KARTIKA INTI PERKASA in
oil palm plantation and P.T. SUMBAHAN WIRA KARTIKA engaged in the field of
trading and distribution, transport and processing of Bulk LPG. INKOPAD is also
cooperation with PERUMNAS (Persero) built of 4,000 units of houses located in
Parung Panjang, Bogor, West Java. The whole houses sold to almost Indonesian
Army (TNI-AD) soldiers. In the next year INKOPAD will be built 245,000 units of
houses to meet the needs of soldiers.
Besides, some of
the food and beverages products are also supplied to almost of Indonesian Army
TNI-AD, various dealer and food shops in the country. INKOPAD's management
added since October 2000 is INKOPAD in the process of freeing the required land
for the above oil palm plantation in Nunukan, Simenggaris, East Kalimantan.
INKOPAD is held of 14.3% shares of P.T. AGROSILVA BETA KARTIKA which was
established in October 2000 with BETA OMEGA TECHNOLOGIES (Malaysia) Sdn Bhd.,
of Malaysia. Besides, according with Law No. 34/2004 on the Army (TNI),
including the Army (TNI) should not be mentioned again conduct the business
until 2009. While cooperatives are allowed to keeps doing the operation. We
observe that INKOPAD operation has been growing and developing well in the last
three years. Besides, INDUK KOPERASI TNI ANGKATAN DARAT (INKOPAD) is also
engaged in investment holding by controls 0.05% shares of P.T. Bank BUKOPIN
Tbk, a private banking services which established by a numbers of Cooperatives.
Up to the
present, INKOPAD has still been much dependent on the business development
of the companies in which it owns shares. In overall we find the
international general trading kept on rising within the last five years. The
activities of general trading and domestic distribution of various products had
been growing in that period. It is estimated the demand will be higher within
the coming five years. Competition is very tight due to a large number of
similar companies operating in the country. Business position of INKOPAD is quite
favorable for it has controlled a wide marketing network at home.
INKOPAD has not
been registered with Indonesian Stock Exchange, so that they shall not obliged
to announce their financial statement. We observed that total sales turnover of
the company in 2009 amounted to Rp. 17.0 billion rose to Rp. 18.5 billion in
2010 increased to Rp. 19.7 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. 1.8 billion and the company has an estimated total net worth of at
least Rp. 21.0 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
INKOPAD is led by Mr. Brigjend. TNI-AD Bernhard Limbong (50), professional
manager from the Army Forces (TNI-AD) who was appointed to head the
cooperative. In his day-to-day operation, he is assisted by General Secretary
Mr. Lieut. Col. Edeng Darmawan and Treasury Mr. Col. TNI-AD Tengku Syahrul.
INKOPAD's management has maintained wide relation with home and overseas
private businessmen as well as with government sector.
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 companys
litigation record is clean and it has not registered with the black list of
Bank of Indonesia. INDUK KOPERASI TNI ANGKATAN DARAT (INKOPAD) is sufficiently
fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.25 |
|
|
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.66.52 |
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 SCs 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.