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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. SIAN LIEP
BUMI PERSADA |
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Formerly Known As : |
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Registered Office : |
Jalan Kalianak Madya IV No. 30 Surabaya 60182 East Java |
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Country : |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
No. AHU-39444.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Export of Agricultural Products |
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No. of Employees : |
22 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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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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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. SIAN LIEP BUMI PERSADA
Head Office
Jalan Kalianak
Madya IV No. 30
Surabaya 60182
East Java
Indonesia
Phone -
(62-31) 7498-563, 7498-564-65 (Hunting)
Fax - (62-31) 7498-663
Land Area - 1,000 sq.
meters
Building Space - 600 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation :
a. June 1997 as
SIAN LIEP BUMI PERSADA
b. 12 June 2002
as P.T. SIAN LIEP BUMI PERSADA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry
of Law and Human Rights
- No. C-13290.HT.01.01.TH.2002
Dated 18 July 2002
- No. C-UM.02.01.6493
Dated 17 March 2003
- No. AHU-39444.AH.01.02.TH.2008
Dated 8 July 2008
Company Status :
National Private Company
Permit by the Government Department :
The Department
of Finance
NPWP No.
02.009.925.5-607.000
Related Company :
None
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued Capital : Rp. 250,000,000.-
Paid up Capital : Rp. 250,000,000.-
Shareholders/Owners
:
a. Mrs. Ratna So Sian - Rp. 125,000,000.-
Address : Jl. Villa Bukit Regency
III PE. 1 No. 62
Surabaya, East
Java
Indonesia
b. Mr. Thio Herry Soeyoto - Rp. 124,000,000.-
Address : Jl. Villa Bukit Regency
III PE. 1 No. 62
Surabaya, East
Java
Indonesia
c. Mr. Joko Suwito -
Rp. 1,000,000.-
Address : Jl. Dukuh Tutup RT. 008 RW. 001
Desa Tutup, Blora
East Java
Indonesia
Lines of
Business :
Trading and Export of Agricultural Products
Production
Capacity :
Total
Investment :
Owned Capital -
Rp. 1.0 billion
Started
Operation :
July 1997 when it was SIAN LIEP BUMI PERSADA
Brand Name :
None
Technical
Assistance :
None
Number of
Employee :
22 persons
Marketing Area
:
Export -
90%
Local - 10%
Main Customer
:
Buyers in Singapore, Malaysia, Philippines, Romania, Bulgaria, India and
also snack, biscuit and
confectionery manufacturer in East Java
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ADI SAMPOERNO
b. P.T. ALAM INDORAMA
c. P.T. DAKAI IMPEX
d. P.T. SUPA SURYA NIAGA
Business Trend
:
Growing
B a n k e r s
:
a. P.T. Bank CENTRAL ASIA Tbk
Gubeng – Surabaya Branch
Surabaya, East Java
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Jalan Basuki Rachmat 8-12
Surabaya, East Java
Indonesia
c. P.T. Bank MUTIARA Tbk
Surabaya Branch
Surabaya, East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated)
:
2009 – Rp. 29.0 billion
2010 – Rp. 31.2 billion
2011 – Rp. 33.0 billion
Net Profit
(Loss) :
2009 – Rp. 2.0 billion
2010 – Rp. 2.1 billion
2011 – Rp. 2.3 billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Thio Herry Soeyoto
Vice Director - Mrs. Ratna So Sian
Board of Commissioners :
Commissioner -
Mr. Joko Suwito
Signatories :
Director (Mr. Thio Herry Soeyoto) 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
P.T. SIAN LIEP BUMI PERSADA
(P.T. SLBP) was established in Surabaya, East Java based on notary deed of Mrs.
Lanny Setyawati Djojokusumo, SH., No. 11 dated on 12 June 2002 with an
authorized capital of Rp. 1,000,000,000 issued capital of Rp. 250,000,000
entirely paid up. The founding shareholders are Mrs. Ratna So Sian her husband
Mr. Thio Herry Soeyoto, both are Indonesian businessmen of Chinese extraction
and Mr. Charles Simamora an indigenous businessman. The company notary deed was
approved by the Ministry of Law and Human Rights in its decision letter No.
C-13290 HT.01.01.TH.2002 dated July 18, 2002. The company notary deed has been
changed a couple of times. Then based on notary deed of Mrs. Lanny Setyawati
Dojojokusumo, SH., No. 36 dated 26 February 2003 the board of directors and the
board of commissioner reappointed to lead and runs of the company’s operation.
The deed of amendments was approved by the Ministry of Law and Human Rights in
its decision letter No. C-UM.02.01.6493 dated March 17, 2003. Then according to
the latest revision of notary documents Mr. Bambang Santoso, SH., M.Kn., dated
12 June 2008 Mr. Charles Simamora withdrew and the whole share sold to Mr. Joko
Suwito as new shareholder. With this time the composition of its shareholders
has been changed to become Mrs. Ratna So Sian (40%), her husband Mr. Thio Herry
Soeyoto (49.6%) and Mr. Joko Suwito (0.4%). The latest revision of notary deed
was approved by the Ministry of Law and Human Right in its Decision Letter No.
AHU-39444.AH.01.02.TH.2008 dated 8 July 2008.
P.T. SLBP engaged in the
field of trading and export of agricultural products by taking over the
activities of SIAN LIEP BUMI PERSADA (a sole proprietary company) which has
been operating since 1997. P.T. SLBP is a private national company focuses it
activity in specialized in trading export and import of Agriculture Commodities
such as Manufacture Products like cocoa powder, cocoa cakes, cocoa butter,
desiccated coconut powder etc; Authentic Natural Spices like , cloves, clove
stem, cumin seeds, fennel seeds, fenugreek seeds, ginger, turmeric, mustard
seeds, nutmegs, candlenut, long/white/black pepper, cassia Vera, betel nut,
dried red chili etc; Grains like rice and corn; Pulses and Bean/Nuts like green
mug beans, black eye beans, brown beans, sunflower seeds, raw cashew nut etc;
Oil and Edible seeds like groundnut kernel, blanched peanut Sesame seeds; Tuber
Crops like Garlic, Onion, Shallots etc.
Mrs. Ratna So Sian, Vice
Director of the company disclosed the whole agricultural commodities such as
mug beans, long pepper, clove steam, clove, white pepper, Cassia Vera, kapok CM
full, dammar batu, cocoa shell, tamarind and cashew obtained from Sumatera,
Sulawesi, Java and other island of Indonesia. Then, the whole products are
exported to the Singapore, Malaysia, Ukraine, Romania, Bulgaria, Philippines,
and India. In October 2001 starting export Kapok to Malaysia. In March 2002
until now they have agent in Dubai for cocoa powder. Besides, the company also
supplied cocoa powder to some biscuits, snack and confectioneries manufactures
especially in East Java and surroundings. Besides, P.T. SLBP is also import of
hulled sesame seeds, coriander seeds, ground nuts kernel, blanched peanuts,
garlic, onion shallot, fennel seed, and dates from India, China and other
countries. We observed that the company’s operation has been growing in the
last three years.
We have noticed that the
demand for agricultural products had increased some 10% to 11% per annum in the
last five years in line with the growth of industrial manufacturing in the
country and international market. In the coming years, the growth rate of
demand is estimated at about 6% to 7% per annum. The present market situation
for agricultural products is very competitive for a large number of similar
companies operating in the country.
Meanwhile, competition is
quite heavy in the export import of agricultural products with many companies
now doing business in this field in Indonesia. We consider P.T. SLBP to be in a
quite favorable position for having already got hold of a steady clientele in
the country and abroad.
Until this time
P.T. SLBP has not been registered with Indonesian Stock Exchange, so that they shall
not obliged to announce their financial statement. The management of the
company 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. 29.0 billion rose to Rp. 31.2 billion in 2010 increased to
Rp. 33.0 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. 2.3
billion and the company has an estimated total net worth of at least Rp. 5.0
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. SLBP is headed by Mr. Thio Herry Soeyoto (43), a professional manager
and has experienced for more than 15 years in the field of trading, export
import and distribution of agricultural products. Daily activity he is assisted
by his wife Mrs. Ratna So Sian (44) as Vice Director. We observed that
management’s reputation in said business is fairly good. The management of the
company is handled by professional experts having wide relation with private
businessmen within and outside the country as well as with the government
sectors. So far, we have never heard that the company’s management involved in
business malpractice 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. PT. SIAN LIEP BUMI PERSADA is fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.93 |
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|
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 |
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<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.