|
Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. RAPISENTRA
ADIPRATAMA |
|
|
|
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Registered Office : |
Grogol Permai Complex Block B-25, Jalan Prof. Dr. Latumenten No. 19,
Jakarta Barat, 11460 |
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|
|
|
Country : |
Indonesia |
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|
|
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Date of Incorporation : |
07.11.1989 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading and Distribution of Industrial Pumps |
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|
|
|
No. of Employees : |
27 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Name of Company :
P.T. RAPISENTRA ADIPRATAMA
Address :
Head Office
Grogol Permai Complex Block B-25
Jalan Prof. Dr. Latumenten No. 19
Jakarta Barat, 11460
Indonesia
Phones -
(62-21) 5677838-5677839
Fax - (62-21) 5665403
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Branches
a. Jalan
Kebun Jukut No. 25
Bandung 40117
West Java
Indonesia
Phone - (62-22) 4205202
Fax -
(62-22) 4205202
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
b. Plaza
Solo Baru 1 Block HA-5
Jalan Raya Solo Permai
Solo, Central Java
Indonesia
Phone - (62-271) 620330, 620352
Fax -
(62-271) 620330
Building Area - 1 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
c. Jalan
Ngagel Jaya Utara No. 51
Surabaya, East
Java
Indonesia
Phone - (62-31) 5025966
Fax -
(62-31) 5025966
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
7 November 1989
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
- No.
C2-7154.HT.01.01.TH.96
Dated 6 March 1996
- No.
AHU-00829.AH.01.02.TH.2009
Dated 6 January 2009
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 1.353.551.3-022
The Department of Industry and Trade
TDP No. 09.02.1.62.09656
Dated 22 May 2006
Related Companies :
a. P.T. BONA TIRTA ANUGERA (Trading and Distribution of Water Filter and
Purified Equipment)
b. P.T. GIRIACON (General Trading)
c. P.T. RAPI LOKA JAYA (Spring Bed Manufacturing)
d. P.T. RAPI KHARISMA ADIPRATAMA (Trading and Distribution of Laundry
Equipment)
Capital Structure :
Authorized Capital : Rp.
100,000,000.-
Issued Capital :
Rp. 25,000,000.-
Paid up Capital :
Rp. 25,000,000.-
Shareholders/Owners :
a. Mr. Ir. Hartono Mahadi -
Rp. 20,000,000.-
Address : Jl. Alfa Indah A.7/9, RT. 002 RW.
007
Kel. Joglo, Kec.
Kembangan
Jakarta Barat
Indonesia
b. Mr. Dih Sen -
Rp. 5,000,000.-
Address : Jl. Alfa Indah B. 8/9, RT. 009 RW.
007
Kel. Joglo, Kec.
Kembangan
Jakarta Barat
Indonesia
Lines of Business :
Trading and Distribution of Industrial Pumps
Production Capacity :
N o n e
Total Investment :
N o n e
Started Operation :
1990
Brand Name :
Rapisentra Adipratama
Technical Assistance :
None
Number of Employee :
27 persons
Marketing Area :
Local - 100%
Main Customer :
Industrial Manufacturing and Individuals (Houses)
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ADHINUSA LESTARI JAYA
b. P.T. DEKA AHINUSA
c. P.T. INDOBARA BAHANA
d. P.T. SAHABAT WASKITA TEKNIK, Etc.
Business Trend :
Growing
Banker :
P.T. Bank CENTRAL ASIA Tbk
Jalan Prof. Dr. Latumenteen
Grogol
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 16.5 billion
2011 – Rp. 17.5 billion
2012 – Rp. 18.3 billion
Net Profit (estimated) :
2010 – Rp. 825 million
2011 – Rp. 860 million
2012 – Rp. 895 million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Ir. Hartono Mahadi
Board of Commissioners :
Commissioner - Mr. Din Sean
Signatories :
Director (Mr. Ir. Hartono Mahadi) which
must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
P.T. RAPISENTRA ADIPRATAMA (P.T. RA) was established in Jakarta on
November 7, 1989 with the authorized capital of Rp. 100,000,000 issued capital
of Rp. 20,000,000 fully and paid up. The founding and shareholders of the
company are Mr. Ir. Hartono Mahadi and Mr. Dih Sen, both are Indonesian
business family of Chinese descent. The company notary deed had been changed
and in March 1998 the issued capital was increased to Rp. 25,000,000 entirely paid
up. With this development the composition of its shareholders has been changed
to become Mr. Ir. Hartono Mahadi (80%) and Mr. Dih Sen (20%). The latest in
December 2008 the board of director and the board of commissioner reappointed
headed and runs of its operation (see profile of this report). The latest
revision of notary deed was made by Mr. Dradjat Darmaadji, SH., a public notary
in Jakarta and was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-00829.AH.01.02.TH.2009 dated January 6, 2009.
We observed that Mr. Ir. Hartono Mahadi is also founder and business
stakes owners of P.T. GIRIACON engaged in general trading, P.T. RAPI LOKA JAYA
engaged in spring bed manufacturing and P.T. RAPI KHARISMA ADIPRATAMA engaged
in trading and distribution of laundry equipments.
P.T. RA had been operating since 1990 in trading and distribution of
industrial pump and spare parts. The merchandising goods stainless steel
submersible pump, stainless steel vertical centrifugal pump, dirty & sewage
water pump and dosing pump. The whole industrial pump is imported from Italy
and using TERRA, DOSEURBO and ZENIT brands. The company sells various types of
pump such as Centrifugal End Suction, Sprinkle Head, Horizontal Multi Stage End
Suction, Trailer Pump, Horizontal Multi Stage, Horizontal Booster Pump, Tractor
Pump, Vertical Turbine Diesel/Electric, Submersible Deep Well, Monobloc/ Closed
Coupled, Vertical Multi Stage, Vertical Booster Pump, Submersible Waste
Water/Drainage Sewage and Fire Pump NFPA Standard. The whole industrial pump is
marketed locally through by its distributor in Jakarta, Bandung, Solo, and
Surabaya.
Mr. Robby Tio explained that the company supplied the above products to
end user such as garment and textile industries, chemical industries, hotel,
apartments and to individual housing in Jakarta, Bandung, Solo and Surabaya. We
observe the operation of P.T. RA has been growing in the last three years.
Generally outlook we find the demand for technical goods and engineering
services has been rising by 6% to 8% per year in the last five years, in line
with the growth of industrial sectors like chemical, textile, cement, building
management, housing complex, etc. The demand for the industrial pump will be
rising by 6% in the next five years. The products are largely imported and the
prices increased sharply while the purchasing power dropped down. Competition
is very tight due to a lot of similar imported products are offered in the
market. Business position of P.T. RA remains quite good for it has already
controlled wide marketing chains in many major cities in the country.
Until this time P.T. RA has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. RA 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. 16.5 billion rose to Rp. 17.5 billion in 2011
increased to Rp. 18.3 billion in 2012 and projected to go on rising by at least
4% in 2013. The operation in 2012 yielded an estimated net profit of at least
Rp. 895 million and 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. RA is led by Mr. Ir. Hartono Mahadi (60) a
businessman with experience in trading, import and distribution of industrial
pumps. 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 company’s litigation record is clean and it has not
registered with the black list of Bank of Indonesia. P.T. RAPISENTRA ADIPRATAMA
is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.