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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. SB CON PRATAMA |
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Registered Office : |
Jl. Depok No. 7 Semarang, Central Java |
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Country : |
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Date of Incorporation : |
12.03.2010 |
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Com. Reg. No.: |
No. AHU-13806.AH.01.01.TH.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Bricks and Pavers Manufacturing |
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No. of Employees : |
40 persons |
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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Status : |
Good |
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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) |
|
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. SB CON
PRATAMA
Head Office & Factory
Jl. Depok No. 7
Semarang, Central Java
Indonesia
Phones -
(62-24) 6581264
Fax -
(62-24) 6581265
Building Area - 32storey
Office Space - 140 sq. meters
Region - Commercial
Status - Rent
Branch
Jl. Margorejo Indah B-107
Surabaya 60238
East Java
Indonesia
Phones -
(62-31) 8417691
Fax -
(62-24) 8417692
Email - hidayat@singabraga.com
Date of Incorporation :
12 March 2010
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No. AHU-13806.AH.01.01.TH.2010
Dated 18 March 2010
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP – Not
available
Related
Companies:
a. P.T. SINGA
BRAGA (Trading and Investment Holding)
b. P.T. IMASCO
PACIFIC MINERALS (Trading of Coals)
c. Etc.
Capital
Structure :
Authorized Capital - Rp. 40,000,000,000.-
Issued Capital - Rp. 10,000,000,000.-
Paid up Capital - Rp. 10,000,000,000.-
Shareholders/Owners
:
a. P.T. SINGA BRAGA -
Rp. 9,990,000,000.- (99.90%)
Address :
Jl. Margorejo Indah B-107
Surabaya, East
Java
Indonesia
b. Mr. Adrian Sudharmanto Nafarin - Rp.
10,000,000.- ( 0.10%)
Address : Jl. Pucang Anom Timur
No. 23
Surabaya, East Java
Indonesia
Lines of
Business :
Bricks and Pavers
Manufacturing
Production
Capacity :
Bricks and Pavers
– 1.0 million tons p.a.
Total
Investment :
Owned
Capital - Rp. 10.0 billion
Started
Operation :
June 2011
Brand Name :
Wika Intinusa
Niagatama
Technical
Assistance :
None
Number of
Employee :
40 persons
Marketing Area
:
Local - 100%
Main
Customers:
a. General
Constructing Companies
b. Industrial
Estate Management
c. Etc.
Market
Situation :
Very Competitive
Main Competitors
:
a. PT. Beton
Elemindo Perkasa
b. PT. Karya Beton Sudira
c. PT. Jaya Beton Indonesia
d. PT. Surapati
Cahaya Timur
e. Etc.
Business Trend
:
Growing
B a n k e r :
The Hongkong and
Shanghai Banking Corp.
Surabaya Branch
Jl. Jend. Basuki
Rakhmad No. 58-60
Surabaya, East
Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – None
2011 – Rp. 22.5
billion
Net Profit (estimated)
:
2010 – None
2011 – Rp. 110
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Adriaan Sudharmanto Nafarin
Director -
Mr. Alfred Harioprasetio Hidayat
Board of Commissioners :
Commissioner -
Mr. Rusdianto Hidayat
Signatories :
President Director (Mr.
Adriaan Sudharmanto Nafarin) or Director (Mr. Alfred Harioprasetio Hidayat)
which must be approved by Board of Commissioner (Mr. Rusdianto Hidayat)
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. SB CON PRATAMA
(P.T. SBCP) was established in Semarang (Central Jawa) on March 12, 2010 with
an authorized capital of Rp. 40,000,000,000.- of which Rp. 10,000,000,000.- was
issued and fully paid up. The founding
shareholders of the company are P.T. SINGA BRAGA (99.90%) and Mr. Adriaan
Sudharmanto Nafarin (0.10%), an Indonesian businessman of Chinese extraction.
The Article of association was approved by the Ministry of Law and Human Right
in its Decision Letter No. AHU-13806.AH.01.01.Tahun 2010 dated March 18, 2010. No changes have been effected in term of its
shareholding composition and capital structures to date.
Pursuant to the company’s notary
deed, P.T. SBCP engaged to operate in industry and trading. The Company’s
registered office located at Jl. Depok No. 7, Semarang, Central Java and the
company can open branch offices or representative offices at home and abroad.
P.T. SBCP has
been commercial operation since mid-2011 dealing with building material
manufacturing such as bricks and pavers.
The company was only operating a unit of plant located at Jl. Depok No.
7, Semarang, Central Java. The plants
have annual production capacity of 1.0 million tons of bricks and pavers. The products are directly marketed to its
customers especially a number of Construction Companies, Industrial Estate
Management and building materials dealer and shops in Semarang (Central Java)
and Surabaya (East Java). We observe
that P.T. SBCP is a new company engaged in bricks and pavers manufacturing
which has been operating since June 2011.
In overall we
find the demand for bricks, pavers, concrete block and other building materials
had been rising by the average 6% to 8% per year within the last five years in
line with the growth of housing complex, roads, bridges, office building and
others. But since the global economic
crisis and tight money policy being imposed by Bank Indonesia in October 2008
the demand was decreased within due to a poor economic condition, decreasing
income per capita and a weak in public purchasing power. The demand was
increasing in the early 2009 due to economic condition was gradually recovery
in the country. The growth rate is now estimated at 5% to 7% per year. Market
competition is very tight due to a large number of similar companies operating
in the country. We believed that P.T.
SBCP is in position to thrive its business in the future.
P.T. SBCP has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. The management of P.T. SBCP is very
reclusive towards outsiders and rejected to disclose its financial condition.
We observed that total income/revenue of the company in the first operation in
2011 amounted to Rp 22.5 billion and projected to go on rising by at least 12%
in 2012. The company has yielded a net
profit of Rp. 110 million in 2011 and the company has an estimated total assets
of Rp. 40.0 billion. So far we did not
hear that the company registered with the black list of Bank of Indonesia
(Central Bank) or involved in the civil case that settled through the country
court.
According to its
notary deed, the management of P.T. SBCP is headed by Mr. Adriaan Sudharmanto
Nafarin (65), as President Director and Mr. Alfred Harioprasetio Hidayat AKA
Alfred Hidayat (26) as Director and Mr. Rusdianto Hidayat (59) as
Commissioner. So far we have never heard
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.
Considering P.T.
SB CON PRATAMA is still relatively new operation, we recommend to treat
prudently in extending new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.93 |
|
|
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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.