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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
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Name : |
P.T. BARALOGAM MULTIJAYA |
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Registered Office : |
Jalan Teh No. 28-B Taman Sari |
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Country : |
Indonesia |
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Date of Incorporation : |
02.02.1987 |
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Com. Reg. No.: |
No. AHU-15650.AH.01.02.TH.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Iron and Steel Casting |
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No. of Employees : |
27 persons |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
BARALOGAM MULTIJAYA
Head Office
Jalan Teh No.
28-B
Taman Sari
Jakarta Barat,
11110
Indonesia
Phones -
(62-21) 6902130 (Hunting)
Fax - (62-21) 6908017
E-mail - baralgm@cbn.net.id
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
2 February 1987
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No. AHU-15650.AH.01.02.TH.2010
Dated 25 March
2010
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.319.159.8-037.000
The Department of Trade
SIUP No. 1337/1045-P/09-03/PB/VI/92
Dated 3 June 1992
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
2,000,000,000.-
Issued Capital : Rp. 520,000,000.-
Paid up Capital : Rp. 520,000,000.-
Shareholders/Owners
:
a. Mr. Antoeng Sendjaja - Rp. 260,000,000.-
Address :
Jl. Tembaga Block Y No. 169, RT. 011
RW. 003, Kel. Harapan Jaya, Kec.
Kemayoran, Jakarta Pusat
Indonesia
b. Mr. Farid Sendjaya -
Rp. 130,000,000.-
Address : Jl. Kelapa Puan Timur
I NC I/23, RT. 001
RW. 012, Kel.
Pegangsaan Dua, Kec.
Kelapa Gading,
Jakarta Utara
Indonesia
c. Mr. Halim Sendjaya -
Rp. 130,000,000.-
Address : Jl. Kelapa Puan Timur
I NC I/23, RT. 001
RW. 012, Kel.
Pegangsaan Dua, Kec.
Kelapa Gading,
Jakarta Utara
Indonesia
Lines of
Business :
Trading and
Distribution of Iron and Steel Casting
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1983
Brand Name :
Baralogam
Multijaya
Technical
Assistance :
None
Number of
Employee :
27 persons
Marketing Area
:
Local - 100%
Main Customers
:
a. Automotive
Assembling and Car Body Repairing
b. Building
Contracting
c. Household
Appliances
d. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. BARAMULTI
METALIKA
b. P.T. BERKAH MAKMUR UTAMA
c. P.T. CAST
METALS INDONESIA
d. P.T. SUTINDO RAYA MULIA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Cengkeh No. 5
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 Rp. 14.0
billion
2010 Rp. 15.0
billion
2011 Rp. 16.2
billion
Net Profit
(estimated) :
2009 Rp. 0.9
billion
2010 Rp. 1.0
billion
2011 Rp. 1.1
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Antoeng Sendjaja
Director -
Mr. Farid Sendjaya
Board of Commissioners :
Commissioner -
Mr. Halim Sendjaja
Signatories :
President Director (Mr. Antoeng
Sendjaja) or the Director (Mr. Farid Sendjaya) 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. BARALOGAM
MULTIJAYA (P.T. BM) was incorporated in Jakarta on February 2, 1987 with the
authorized capital of Rp. 300,000,000 issued capital of Rp. 200,000,000entirely
paid up. The founding shareholders of the company are Mr. Antoeng Sendjaja
(Sendjaya) and his sons Mr. Farid Sendjaya and Mr. Halim Sendjaya, they are
Indonesian business family of Chinese descent. The company notary deed has been
changed a couple of times. In August 2008 the authorized capital was increased
to Rp. 1,000,000,000 issued capital to Rp. 300,000,000 entirely paid up. The
latest in March 2010 the authorized capital was raised again to Rp.
2,000,000,000 issued capital to Rp. 520,000,000 fully and paid up. With this
development the composition of its shareholders has been changed to become Mr.
Antoeng Sendjaja (50%), Mr. Farid Sendjaya (25%) and Mr. Halim Sendjaya (25%).
The latest revision of notary act was made by Mrs. Irene Yulia, SH., was
approved by the Ministry of Law and Human Right in its Decision Letter No.
AHU-15650.AH.01.02.TH.2010, dated March 25, 2010.
P.T. BM in
operation since 1987 in the field of trading, distribution, suppliers and
importers of metal foundry feedstock. The merchandising good products are ferro
alloy, pig iron, iron, manganese, molybdenum, phosphorus silicone, sulfur,
inoculant, aluminum master alloys, and
steel, retail trade in steel or iron for construction materials. Basically, the
activity of P.T. BM is to take over and continue the activities of the UD. BARA
METAL which was founded in 1983 by Mr. Antoeng Sendjaja. Currently, P.T. BM is
and agent and distributor holder of NOLTINA GmbH., Crucibles of Germany, LONDON
SKANDINAVIAN METALURGICAL Co. Ltd., Ferro Alloy of the UK., Ervin AMA STEEL,
Steel Shot and Grit of the UK and ENVOY Flake of Taiwan as well as KBo and CNC
brands. Most products merchandise is sold to the metal casting industry in
Jakarta, West Java, Central Java and East Java. In addition, they also market
products merchandise through stores of raw materials throughout the metal
casting big cities in Indonesia. Besides, the products also marketed in
Kalimantan islands, Sumatra islands etc. The operation of P.T. BM is running
smoothly in the last three years.
Generally
outlook we find the demand for ferro alloy, pig iron, steel, stainless steel
sheet, stainless steel pipe, aluminum sheet, brass sheet, etc., had been rising
by 6% to 8% per year in the last five years. It links closely with the growth
of auto body industries, factory development, housing development and household
appliance industries. Besides, lustrous development of property projects like
shopping centers, hotels, apartments, office buildings and others in the
country in the last three years is estimated to increase demand for steel
products in the country. However, the retail high price of steel products in
the country is an obstacle faced by consumers. Besides, the increasing electric
base tariff and oil and gas price has become a serious barrier faced by steel
producers in the country. Competition is very tight due to a lot of similar
products are for sales in the country. Business position of P.T. BM is
favorable being strongly backed up by its groups business networks.
Until this time
P.T. BM has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T.
BM 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. 14.0 billion rose to Rp. 15.0 billion in 2010 increased to Rp.
16.2 billion in 2011 and projected to go on rising by at least 4% in 2012. The
operation in 2011 yielded an estimated net profit of at least Rp. 1.1 billion
and the company has an estimated total net worth of at least Rp. 3.2 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. BM is led by Mr. Antoeng Sendjaja (77) a businessman and professional
manager with experience in trading, import and distribution of metal foundry,
iron and steel casting. In his daily operation he is assisted by his son Mr.
Farid Sendjaya (53) as director. 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 companys litigation record
is clean and it has not registered with the black list of Bank of Indonesia. P.T.
ALVADIWIPA ANUGERAH is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.