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Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. INDOGRANIT TUNGGAL PERKASA |
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Registered Office : |
Wisma ADR, 7th
Floor, Jl. Pluit Raya No. 1, Jakarta 14440 |
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Country : |
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Date of Incorporation : |
14.01.1997 |
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Com. Reg. No.: |
No. AHU-39760.AH.01.02.Tahun 2010 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Marble, granite
and Natural Stone Manufacturing and Trading |
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No. of Employees : |
145 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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. INDOGRANIT TUNGGAL PERKASA
Head Office
Wisma ADR, 7th
Floor
Jl. Pluit Raya
No. 1
Jakarta 14440
Indonesia
Phones -
(62-21) 661 9290 (Hunting)
Fax - (62-21) 661 9270, 661 9285
Email - indogranit@cbn.net.id
Building Area - 12 storey
Office Space - 160 sq. meters
Region - Commercial
Status - Rent
Showroom
Jl. Pinangsia
Raya No. 80
Jakarta Barat
Indonesia
Phone -
(62-21) 6906821
Fax - (62-21) 6268185
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Rent
Factory
Kawasan Industri
Pancatama IV Kav. 76
Jl. Raya Serang
Km. 67, Cikande
Serang 42186
Banten Province
Indonesia
Phone -
(62-254) 400636
Fax - (62-254) 400637
Land Area - 2.5 ha
Building Area - 0.9 ha
Region - Industrial
Zone
Status - Rent
14 January 1997
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of Law and Human Rights
a. No.
C2-2.636.HT.01.04.TH.97
Dated 14 April 1997
b. No. AHU-39760.AH.01.02.Tahun 2010
Dated 11 August 2010
Private National Company
The Department of Finance
NPWP No.
01.806.284.4-038.000
A member of the
LIGO Group (see attachment)
Capital
Structure :
Authorized Capital - Rp. 5,000,000,000.-
Issued Capital - Rp. 5,000,000,000.-
Paid up Capital - Rp. 5,000,000,000.-
Shareholders/Owners
:
a. Mr. Aman
AKA Chua Sui Hian - Rp.
4,500,000,000.- (90%)
Address:
Jl. Berdikari I No. 5
Kel. Kapuk, Cengkareng
Jakarta Barat
b. Mr. Sofian AKA Sofian Tan - Rp.
500,000,000.- (10%)
Address: Jl. Terusan Bandengan Utara 911
Kel.
Pejagalan, Penjaringan
Jakarta Utara
Lines of
Business :
Marble, granite
and Natural Stone Manufacturing and Trading
Production
Capacity :
On the order
basis
Total
Investment :
None
Started
Operation :
1998
Brand Name :
Indogranit
Technical
Assistance :
None
Number of
Employee :
145 persons
Marketing Area
:
Local - 100%
Main Customers :
a. Building
Material Supermarkets
b. Building
Materials Shops
c. Contracting
companies
d. etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. PT. Platinum
Ceramics Industry
b. PT.
Muliakeramik Indahraya Tbk
c. PT. Roman Ceramik International
d. PT. Keramindo Megah Pertiwi
e. PT. Haeng Nam Sejahtera Indonesia
f. PT.
Satyaraya Keramik Indah
Business Trend
:
Growing
Bankers :
a. P.T. Bank
CENTRAL ASIA Tbk
Mega Mall Pluit
Jl. Pluit Permai Raya No. 60
Jakarta Utara
b. P.T. Bank
NEGARA INDONESIA Tbk
KLN Pluit Kencana
Jl. Pluit Kencana No. 49
Jakarta Utara
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 43.2
billion
2010 – Rp. 48.0
billion
2011 – Rp. 53.0
billion
Net Profit
(estimated) :
2009 – Rp. 2.3
billion
2010 – Rp. 2.6
billion
2011 – Rp. 2.9
billion
Payment Manner
:
Almost promptly
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Aman AKA Chua Sui
Hian
Board of Commissioners :
Commissioner - Mr. Sofian
AKA Sofian Tan
Signatories :
Director (Mr. Aman AKA
Chua Sui Hian) which must be approved by Board of Commissioner (Mr. Sofian AKA
Sofian Tan)
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. INDOGRANIT TUNGGAL PERKASA (P.T. ITP) was established in Jakarta on January 14, 1997 with an authorized capital of Rp 1,000,000,000.- of which Rp. 250,000,000.- was issued and fully paid up. The founding shareholders of the company are Mr. Aman AKA Chua Sui Hian (85%), Mr. Iwan Gotama (5%) and Mr. Sofian AKA Sofian Tan (10%). They are Indonesian businessmen of Chinese extraction. The deed of company was made by Buntario Tigris Darmawa Ng., SH., a public notary in Jakarta and it was approved by the Ministry of Law and Human Right in its Decision Letter No. C2-2.636.HT.01.01.TH.97 dated 14 April 1997.
The company's notarial deed has frequently been revised. In May 2010, the authorized capital was raised to Rp. 5,000,000,000.- entirely was issued and fully paid up. Since then, the shareholders of the company are Mr. Aman AKA Chua Sui Hian (90%) and Mr. Sofian AKA Sofian Tan (10%). The deed of amendment was made by Johny Dwikora Aron, SH., a public notary in Jakarta and it was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-39760.AH.01.02.TH.2010, dated 11 August 2010. No changes have been effected in term of its shareholding composition and capital structures to date.
P.T. ITP is engaged in granite, marble and natural stone manufacturing and trading. It used to manage only a plant located at Kawasan Industri Pancatama IV Kav. 76, Jalan Raya Sernag Km. 67, Cikande, Serang, Banten Province and its operating since 1998. The plant has frequently been revised and now its equipped the best machinery and equipments with a total production capacity of 12,000 sq. meters granites, marbles and natural stones per month in the form of blocks, slabs tiles, the surface of the tables, railings, patterns and mosaics, furniture for bath room, kitchen and decoration rooms. P.T. ITP also provides installation and maintenance of natural stone. Some 90% of the products is marketed locally and the other 10% being exported to Malaysia, Filipina, Thailand, etc. We observed that P.T. ITP 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.
In overall views we find the demand for various kinds and types of ceramic tiles, granite, marble and natural stone in the country had been rising by 12% to 15% per year within the last five years until mid-1997, in line with the growth of office building, hotel, apartment, real-estate, housing and other properties. But since 1998 it declined by at least 20% and will remain be lower by at least 7% in 1999 as the impact of the prolonged economic crisis that making many property projects were discontinued, lower public purchasing power and higher price of the products. While the competition is very tight due to a lot of similar products both local and imported ones are marketed in the country like PLATINUM, KIA, IKAD, LUCKY, MULIA, ROMAN, SUPER ITALY, TOTO, DANTO TILE, MASTERINA, MILAN, etc.
Until this time P.T. ITP has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. The management of P.T. ITP is very reclusive towards outsiders and rejected to disclose its financial condition. We estimate that sales turnover of the company in 2009 amounted to Rp. 43.2 billion increased to Rp. 48.0 billion in 2010 rose again to Rp. 53.0 billion in 2011 and projected to be increasing by 10% in 2012. We estimate that the operation of the company in 2011 gained a net profit of Rp. 2.9 billion with a total assets of Rp. 30.0 billion. So far we did not hear that P.T. ITP has been black listed by Bank Indonesia (Central Bank) or having detrimental cases being settled in local district court. The company usually pays its debts punctually to suppliers.
The management of the company is headed by Mr. Aman AKA Chua Sui Hian (49) as Director, with 15 years of experience in trading and industry of granite, marble and natural stone. In his daily activities, he is assisted by Mr. Sofian AKA Saofian Tan (54) as commissioner and marketing manager of the company. The management is also handled by a number of professional staff, having maintained a wide business relation with private businessmen at home and abroad as well as with government sector. So far, we did not hear 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. We believed that P.T. INDOGRANITE TUNGGAL PERKASA is good for normal business transaction.
Attachment:
List of the LIGO Group Members
1.
AMAN
FOOD INDUSTRI, P.T. (Soft and fruit Drink Industry)
2.
CAHAYA
DINAMIKA PERSADA, P.T. (Plastic Packaging Industry)
3.
DOLPIN
PUTRA SEJATI, P.T. (PP, HDPE and Heavy Duty Bag Industry)
4.
INDOGRANIT
TUNGGAL PERKASA, P.T. (Granite, Marble & Natural Stone
Manufacturing)
5.
INTERPLAST
SURYA PERKASA, P.T. (HDPE and PX Plastic Bag Industry)
6.
LIGOKRIYASA
MANDIRI, P.T. (Plastic Bag Industry for Industrial and Household)
7.
UNGGUL
KARYA SEMESTA, P.T. (Plastic Sheeting Industry)
8.
UNGGUL
PLASTIC, P.T. (Trading and Distribution of LLDPE & HDPE)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
|
UK Pound |
1 |
Rs.86.11 |
|
Euro |
1 |
Rs.69.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
---- |
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.