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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
P.T. ASTA PARAWISINDAH SENTAUSA |
|
|
|
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Registered Office : |
Jalan K.H. Mansyur No. 38, Mojo Gubeng, Surabaya 60265, East Java |
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Country : |
|
|
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|
|
Date of Incorporation : |
1991 |
|
|
|
|
Com. Reg. No.: |
No.
C-308.HT.01.04.TH.2003 |
|
|
|
|
Legal Form : |
P.T. (Perseroan
Terbatas) or Limited Liability Company |
|
|
|
|
Line of Business : |
Trading, Export
Import and Distribution of Agricultural Commodities Products |
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|
|
|
No. of Employees : |
37 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Indonesia - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, grew an estimated 6.1% and 6.4% in 2010 and 2011, respectively. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a small current account surplus, a fiscal deficit below 2%, and historically low rates of inflation. Fitch and Moody's upgraded Indonesia's credit rating to investment grade in December 2011. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the ongoing challenge of improving Indonesia's insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of rising oil prices.
|
Source : CIA |
Name of
Company :
P.T. ASTA
PARAWISINDAH SENTAUSA
A d d r e s s
:
Head Office
Jalan K.H. Mansyur No. 38
Mojo Gubeng,
Surabaya 60265
East Java
Indonesia
Phones -
(62-31) 3550563, 3540240
Fax - (62-31) 3538090
E-mail - wminandar@yahoo.com
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
a. 25 September 1990
as P.T. ASTA MANUNGGAL SENTAUSA
b. 19 May 1992 as
P.T. ASTA PARAWISINDAH SENTAUSA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
C-308.HT.01.04.TH.2003
Dated 17 January
2003
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.535.138.0-605.000
Related
Company :
UD. LANCAR
(Trading and Distribution of Agricultural Products)
Capital
Structure :
Authorized
Capital : Rp.
800,000,000.-
Issued Capital : Rp.
160,000,000.-
Paid up Capital : Rp.
160,000,000.-
Shareholders/Owners
:
a. Mr. Tan Andy Zahir -
Rp. 20,000,000.-
b. Mr. Willy Budiono AKA Willy Tanjung - Rp. 20,000,000.-
c. Mr. Tjoa
Tjian AKA Ing Budiono -
Rp. 20,000,000.-
d. Mr. Tjoa Widy Minandar Juarso - Rp. 20,000,000.-
e. Me. Santosa
Sastrowidjojo -
Rp. 20,000,000.-
f. Mr. Benny Sutansyah - Rp. 20,000,000.-
g. Mr. Juwono Sutopo -
Rp. 20,000,000.-
h. Mr. Ivan Setiawan Budiono - Rp. 20,000,000.-
Lines of
Business :
Trading, Export
Import and Distribution of Agricultural Commodities Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1991
Brand Name :
APS
Technical
Assistance :
None
Number of
Employee :
37 persons
Marketing Area
:
Local - 100%
Main Customer
:
Traditional
Markets
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ADI
SAMPOERNA
b. P.T. GLOBAL
IMPEX
c. P.T. SIAN LIEP
BUMI PERSADA
d. P.T. SUPA
SURYA NIAGA
e. Etc.
Business Trend
:
Growing
B a n k e r s
:
P.T. Bank CIMB
NIAGA Tbk
Jalan Dinoyo No.
42
Surabaya, East
Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 Rp. 28.0
billion
2010 Rp. 29.6
billion
2011 Rp. 30.5
billion
2012 Rp. 16.0
billion (January June)
Net Profit
(estimated) :
2009 Rp. 1.8
billion
2010 Rp. 1.9
billion
2011 Rp. 2.0
billion
2012 Rp. 1.1
billion (January June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Tan Andy Tanzir
Director -
Mr. Willy Budiono
Board of Commissioners :
President Commissioner -
Mr. Tjoa Tjian AKA Ing Budiono
Commissioners -
a. Mr. Tjoa Widyo Minandar Juarso
b. Mr. Santosa Sastrowidjojo
c. Mr. Benny Sutansyah
d. Mr. Yuwono Sutopo
Signatories :
President Director (Mr.
Tan Andy Tanzir) or the Director (Mr. Willy Budiono) 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
Initially named
P.T. ASTA MANUNGGAL SENTAUSA, it was incorporated in Surabaya, East Java in September
1990 with the authorized capital of Rp. 800,000,000 of which Rp. 160,000,000
was issued and fully paid up. The company was founded by Mr. Tjoa Tjian AKA Ing
Budiono, Mr. Ivan Setiawan Budiono, Mr. Widyo Minandar Juarso, Mr. Santoso
Sastrowidjojo, Mr. Willy Tanjung, Mr. Tan Andy Tanzir AKA Andy Tanzir and Mr.
Benny Sutansyah, all are Indonesian businessmen of Chinese extraction. The
company notary deed has been changed and in May 1992 the company renamed to
P.T. ASTA PARAWISINDAH SENTAUSA (P.T. APS). Based on our knowledge up to
writing the report the notary documents of the company have not undergone any
changes. The deed of amendment was made by Mrs. Lanny Setyawati Djojokusumo,
SH, a public notary in Surabaya, was approved by the Ministry of Law and Human
Right in its Decision Letter No. C-308.HT.01.04.TH.2003, dated August 20, 2003.
We observe the
founding shareholders of the company are also the founders and owners of U.D.
LANCAR dealing with trading and distribution of agricultural commodities
products.
P.T. APS has
been in operation since 1991 dealing with trading, export import and
distribution of agricultural commodities products. The merchandise products of
the company include mung beans, ground nuts, shallots, garlic, nutmeg,
coriander, various spices and others. Mr. Willy Budiono, director of the
company went on to say the company imported of various agriculture products
like garlic, ground nuts and other from India and China. The whole products
marketed locally through traditional markets, various agents, food and
beverages processing industries, herbal and cosmetic industries in East Java
and surroundings. Besides, the merchandise products are not only sold by the
company itself but also distributed by its sister company U.D. LANCAR. Besides,
P.T. APS is also export of mung bean, nutmeg and shallots to Singapore. The
whole local agriculture products collected from East Java and other regions in
Central Java. We observe the operation of P.T. APS has been running smoothly
and growing steadily 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. APS to be in a quite
favorable position for having already got hold of a steady clientele in the
country and abroad.
P.T. APS 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. 28.0 billion rose to Rp. 29.6 billion in
2010 increased to Rp. 30.5 billion in 2011. As from January to June 2012 the
sales turnover has reached at least Rp. 16.0 billion with a net profit of Rp.
1.1 billion and its projected the sales will be higher by at least 4% in 2013.
The company has an estimated total networth of at least Rp. 2.5 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. APS is
led by Mr. Tan Andy Tanzir AKA Andy Tanzir (54), a businessman with more than
17 years of experience in trading and distribution of agricultural commodities
products. 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. ASTA PARAWISINDAH SENTAUSA is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.