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Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. KOOPA SPECIALTIES |
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Registered Office : |
Kp. Citamiang Kaler Jl. Ters. Cibaduyut No. 155, RT.008, RW.006 Cangkuang Kulon, Dayueh Kolot Bandung 40239 West Java |
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Country : |
Indonesia |
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Date of Incorporation : |
03.03.2008 |
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Com. Reg. No.: |
No. AHU-56854.AH.01.02.Tahun 2012 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Supplier and Distribution of Dyestuff and Specialty Chemicals |
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No. of Employees : |
28 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 : |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, grew more than 6%
annually in 2010-12. 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 fiscal deficit below 3%, 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
2013 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 high oil prices.
Source
: CIA
P.T. KOOPA
SPECIALTIES
Head Office
Kp. Citamiang
Kaler
Jl. Ters.
Cibaduyut No. 155, RT.008, RW.006
Cangkuang Kulon, Dayueh Kolot
Bandung 40239
West Java
Indonesia
Phones -
(62-22) 5430146 (hunting)
Fax - (62-22) 5405983
Building Area - 2 storey
Office Space - 220 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
03 March 2008
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
a. No.
AHU-47445.AH.01.01.Tahun 2008
Dated 04 August 2008
b. No.
AHU-AH.01.10-36367
Dated 08 October 2012
c. No.
AHU-56854.AH.01.02.Tahun 2012
Dated 06 November 2012
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.736.405.8-445.000
Related/Affiliated
Company :
Not available
Capital
Structure :
Authorized Capital - Rp. 2,000,000,000.-
Issued Capital - Rp. 500,000,000.-
Paid up Capital - Rp. 500,000,000.-
Shareholders/Owners
:
a. Mr. Ir. Min Djauhari - Rp. 100,000,000.- (20%)
Address : Komplek Dian Permai
Raya No. 47
Bandung, West
Java
Indonesia
b. Mr. Daniel Sundah -
Rp. 100,000,000.- (20%)
Address :
Jl. Srimahi Dalam No. 2B
Bandung, West
Java
Indonesia
c. Mr. Nathan Margetan - Rp. 100,000,000.- (20%)
Address : Jl. Laswi No. 103
Bandung, West
Java
Indonesia
d. Mr. Dudung Hadi -
Rp. 100,000,000.- (20%)
Address :
Jl. Taman Kopi Indah II, No.40
Bandung, West
Java
Indonesia
e. Mr. Tjio Prihartono - Rp. 100,000,000.- (20%)
Address : Jl. Langlang Bumi No.
38A
Bandung, West
Java
Indonesia
Lines of
Business :
Trading, Supplier
and Distribution of Dyestuff and Specialty Chemicals
Authorized
Distribuitor of :
RACHADA CHEMICALS Co. Ltd., of Thailand
Total Investment :
None
Started
Operation :
2 0 0 6
Brand Name :
KOOPA SPECIALTIES
Technical
Assistance :
None
Number of
Employee :
28 persons
Marketing Area
:
Local
(Domestic) - 100%
Main Customers
:
a. Textile
Industries
b. Leather
(Tanning) Industries
c. Paper
Industries
d. Plastic
Product Industries
e. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. PT. Sari
Sarana Kimia
b. PT. United Chemicals
Inter Aneka
c. PT. Kharindo Prakarsa
d. PT. Timur Raya Tunggal
e. PT. Indokemika Jayatama
f. PT. Graha Jaya
Pratama Kinerja
g. PT. Chemifin Jaya Utama
h. PT. Makro
Chemindo
i. PT. Colorindo Chemtra
j. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Bandung Branch
Jl. Asia Afrika
No. 122-124
Bandung, West
Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 43.0
billion
2011 – Rp. 49.0
billion
2012 – Rp. 56.0
billion
Net Profit
(estimated) :
2010 – Rp. 2.5
billion
2011 – Rp. 2.8
billion
2012 – Rp. 3.2
billion
Payment Manner
:
G o o d
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Nathan Margetan
Directors -
a. Mr. Ir. Min Djauhari
b. Mr. Dudung Hadi
Board of Commissioners :
Commissioners -
a. Mr. Daniel Sundah
b. Mr. Tjio Prihantono
Signatories :
President Director (Mr.
Nathan Margetan) or one of the Directors (Mr. Ir. Min Djauhari or Mr. Dudung
Hadi) which must be approved by Board of Commissioners
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below average
Credit Recommendation :
Credit can be processed normally
Proposed
Credit Limit :
Moderate amount
P.T.
KOOPA SPECIALTIES (P.T. KS) was established in Bandung (West Java) based on
notarial Deed No. 5 dated March 3, 2008
of Mrs. Elsa, SH., notary in Bandung, with an authorized capital of Rp.
2,000,000,000.- of which Rp. 500,000,000.- was issued and fully paid up. The founding shareholders of the company are
Mr. Ir. Min Djauhari (20%), Mr. Daniel Sundah (20%), Mr. Dudung Hadi (20%), Mr.
Nathan Margetan (20%) and Mr. Tjip Prihartono (20%). They are Indonesian businessmen of Chinese
extraction. The deed of establishment
was approved by the Minister of Law and Human Rights of the Republic of
Indonesia, through its Decision Letter No. AHU-47445.AH.01.01.TH.2008 dated 4
August 2008. The company's notarial Deed
has frequently been amended, most recently by notarial Deed No. 4 dated 17
October 2012 of Kiki Hertanto, SH., the company board of director and the board
of commissioner had been changed.
However, no changes have been effected in term of its shareholding
composition and capital structures to date.
The amendment to notarial Deed has been approved by the Ministry of Law
and Human Right in its Decision Letter No. AHU-56854.AH.01.02.Tahun 2012, dated
6 November 2012.
P.T.
KS has been operating since 2008 in trading and distribution of dyestuff (dyes)
and chemicals. Mr. Yohanes, a marketing
staff of the company explained that P.T. KS is appointed as an authorized
distributor of RACHADA CHEMICALS Co. Ltd., of Thailand, the company specializes
in manufacturing and trading of dyes and other chemical products for textile
industries (polyester fiber, cellulose fiber, polyamide & wool fiber),
leather, paper and plastic industries.
The products are Synolon AK dyes for outstanding light fastness, Synozol
GC dyes, reactive dyes for exhaust dyeing, Synoset Red 2B for nylon dyeing,
Synoset Grey G for wool dyeing and others.
He added that P.T. SIP's entire products are wholly distributed
domestically to textile industries, tannery (leather) industries, paper and
plastic industries in Bandung and its surroundings. We observed that P.T. KS is classified as a
medium-sized company of its kind in the country of which the operation has been
growing in the last three years.
The
domestic demand for various types of dyes and chemical products had been rising
by 8% to 10% on the average per annum in the last five years in line with the
rapid growth of various industrial sectors including textile industries,
leather product industries, paper and plastic product industries. But, later dwindled as the global economic
slowdown since October 2008, followed by tight money policy imposed by Indonesian
Central Bank (Bank Indonesia) and also heated by political issue in the
country. The demand growth started to awake in June 2009 in line with the
amelioration of economic condition in the country. Market competition is very tough on account
of large number of other similar companies operating in the country. P.T. KS
business position in this case is not too badly because it has built regular
customers and extensive marketing network all across the country.
Until
this time P.T. HSP has not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. The
management of P.T. HSP is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company in 2010 amounted to Rp. 43.0 billion increased to Rp. 49.0 billion in
2011 rose again to Rp. 56.0 billion in 2012 and projected to go on rising by at
least 8% in 2013. The operation in 2012 yielded an estimated net profit of at
least Rp. 3.2 billion and the company has an estimated total net worth of at
least Rp. 10.0 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. KS is led by Mr. Nathan Margetan (66) a businessman who
experienced for more than 30 years in the field of trading and distribution of
dyes and specialty chemicals. Daily
operation he is assisted by Mr. Ir. Min Djauhari (54) and Mr. Dudung Hadi (40),
both as director respectively. The management is handled by experienced staff
in this business, having maintained a wide business relation with private
businessmen at home and abroad as well as with government sectors. 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
company’s litigation record is clean and it has not registered with the black
list of Bank of Indonesia.
P.T.
KOOPA SPECIALTIES is appraised to be 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.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.95 |
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.