|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. TRIJAYA SUKSES MAKMUR |
|
|
|
|
Registered Office : |
Ruko
Semarang Indah Blok E-2 No.8 Jl. Raya Madukoro, Tawangmas Barat Semarang,
Central Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
16.11.2009 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-19414 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Food Seasonings Industry |
|
|
|
|
No. of Employees : |
20 persons |
RATING & COMMENTS
|
MIRA’s 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 (31.03.2011) |
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
P.T. TRIJAYA
SUKSES MAKMUR
Head Office & Factory
Ruko Semarang Indah Blok E-2 No.8
Jl. Raya Madukoro, Tawangmas Barat
Semarang, Central Java
Indonesia
Phone -
(62-24) 7608325
Fax. - (62-24) 7608326
Building Area - 2 storey
Office Space - 160 sq. meters
Region - Commercial
Status - Owned
Date of
Incorporation :
16 November 2009
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-61716.AH.01.01.Tahun 2009
Dated 17 December 2009
b. No.
AHU-28846.AH.01.02.Tahun 2010
Dated 07 June 2010
c. No.
AHU-AH.01.10-19414
Dated 30 July 2010
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. – not available
Not available
Capital Structure :
Authorized Capital
- Rp. 7,500,000,000.-
Issued Capital - Rp. 7,500,000,000.-
Paid up Capital - Rp. 7,500,000,000.-
Shareholders/Owners :
a. Mr. Lumbana
Surjoputro - Rp. 7,498,000,000.-
(99.97%)
Address :
Jl. Puri Anjasmoro Blok J-3/25
Semarang, Central Java
Indonesia
b. Mr. Alexander
Surjo Putro - Rp. 2,000,000.- ( 0.03%)
Address : Jl. Puri Anjasmoro Blok J-3/25
Semarang, Central Java
Indonesia
Lines of Business
:
Food Seasonings Industry
Production
Capacity :
On the order basis
Total Investment :
a. Owned Capital - Rp. 7.5 billion
b. Loan Capital - None______
c. Total
Investment - Rp. 7.5 billion
Started Operation :
2010
Brand Name :
TSM
Technical Assistance :
None
Number of Employee :
20 persons
Marketing Area :
Local - 100%
Main Customers :
a. Traditional
markets in Semarang and its surroundings
b. Retails and
Mini-markets, etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Natura
Prima
b. PT. Prima Consumer Industries
c. PT. Nusa Sejahtera
d. PT. Pawon Gemilang Rasa
e. PT. Macropima Panganutama
f. Etc.
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank
CENTRAL ASIA Tbk
Jl. Pemuda No. 90-92
Semarang, Central Java
Indonesia
b. P.T. Bank MANDIRI Tbk.
Jl. Pemuda No. 73
Semarang,
Central Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Income/Revenues (estimated) :
2010 – Rp. 6.0 billion
2011 – Rp. 10.8
billion
2012 – Rp. 12.5
billion
Net Profit (Loss)
:
2010 – Rp. 390
million
2011 – Rp. 700
million
2012 – Rp. 810
million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of
Management :
Director - Mr. Lumbana Surjoputra
Board of
Commissioners :
Commissioner - Mr. Alexander Surjo Putra
Signatories
:
Director (Mr.
Lumbana Surjoputra) which must be approved by Board of Commissioners (Mr.
Alexander Surjo Putra)
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.
TRIJAYA SUKSES MAKMUR (P.T. TSM) was established in Semarang on November 6,
2009 with an authorized capital of Rp. 1,000,000,000.- issued capital of Rp.
250,000,000.- entirely paid up. The founding shareholders of the Company are
Mr. Lumbana Surjoputra (99.2%) and Mr. Muk Po (0.8%), both are Indonesian
businessmen of Chinese extraction. The Articles of Association has been
approved by the Minister of Law and Human Rights through Decision Letter No.
61716.AH.01.01.Tahun 2009 dated December 17, 2009.
The
Company’s article of association has been amended for several times. Most
recently by notarial deed of Roekiyanto, SH., No. 31 dated July 21, 2010 the
authorized capital was raised again to Rp. 7,500,000,000.- entirely was issued
and fully paid up. Concurrently, the
shareholders of the Company are Mr. Lumbana Surjoputra (99.97%) and his son Mr.
Alexander Surjo Putra (0.03%). The amendment
to notarial Deed has been approved by the Minister of Law and Human Rights of
the Republic of Indonesia through Decree No. AHU-AH.01.10-19414 dated July 30,
2010.
According to our
investigation, P.T. TSM had been operating since 2010 in industry of food
seasoning with its plant located at Ruko Semarang Indah Blok E-2 No. 8,
Tawangmas Barat, Semarang, Central Java.
Mr. Dedi, an administrative staff of the company explained that the raw
material for food seasonings likes garlic, dry chili, shallot, onion are
imported from China, India and Thailand.
The other raw material like clove, pepper and sesame seed bought from
farmer in Central Java and East Java.
Then, the food seasoning are marketed and supplied to traditional
markets, retails and mini-markets in Semarang and its surroundings. We observed that P.T. TSM is classified as a
small-sized company of its kind in the country of which the operation has been
growing in the last two years.
We have noticed that the
demand for food seasoning products had increased some 10% to 12% per annum in
the last five years in line with the growth of fast food restaurants,
traditional restaurants, food courts, etc.
In the coming years, the growth rate of demand is estimated at about 6%
to 8% per annum. The present market situation for food seasoning products is
very competitive for a large number of similar companies operating in the
country. Meanwhile, competition is
quite heavy in the industry of food seasoning with many companies now doing business
in this field in Indonesia. We consider P.T. TSM to be in a quite favorable
position for having already got hold of a steady clientele in the Central Java
and surroundings.
Until this time P.T. TSM has not been registered with Indonesian
Stock Exchange, so that they shall not obliged to announce their financial
statement. The company’s management is
very reclusive to outsider and rejected to disclose its financial condition.
But we estimate the total sales turnover of P.T. TSM in 2010 amounted to Rp 6.0
billion increased to Rp 10.8 billion in 2011 to Rp 12.5 billion in 2012 and
projected it will be higher by 6% in 2013.
The operation in 2012 yielded an estimated profit at about Rp 810
million and the company has an estimated total asset at around to Rp 7.5
billion. So far, we did not hear that
the company having been black listed by the Central Bank (Bank Indonesia). The
company usually pays its debts punctually to suppliers.
The
company's management is headed by Mr. Lumbana Surjoputra (52) as director and
his son Mr. Alexander Suryo Putro (24) as commissioner. The management is having maintained a wide
business relation among private companies at home and abroad. So far, we did
not hear that the company’s management involved in a 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.
P.T. TSM is
sufficiently fairly good for business transaction. However, in view of the economic condition in
the country is still unstable, we recommend to treat prudently in extending any
new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
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 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.