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Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
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Correct Name : |
P.T. INDOTECH
MEGA PERKASA |
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Registered Office : |
Taman Mahkota
Mutiara B1/33, Jalan Husein Sastranegara, Tangerang, Jakarta Barat, 15125 |
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Country : |
Indonesia |
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Date of Incorporation : |
10.06.2003 |
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Com. Reg. No.: |
No. C-30168 HT.01.01.TH.2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Industrial
Pumps |
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No. of Employees : |
17 |
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 |
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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 |
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Insignificant |
A1 |
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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 |
Name of
Company :
P.T.
INDOTECH MEGA PERKASA
A d d r e s s
:
Head Office
Taman Mahkota
Mutiara B1/33
Jalan Husein
Sastranegara
Tangerang
Jakarta Barat,
15125
Indonesia
Phones -
(62-21) 544 6797 (Hunting)
Fax - (62-21) 545 1817
E-mail - tjioec@cbn.net.id
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
10 June 2003
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No. C-30168
HT.01.01.TH.2003
Dated 29 December
2003
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.188.394.7-036.000
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
100,000,000.-
Issued Capital : Rp.
100,000,000.-
Paid up Capital : Rp.
100,000,000.-
Shareholders/Owners
:
a. Mr. Samsuddi Salimin - Rp. 50,000,000.-
Address :
Jl. Kapuk Pulo, RT. 004 RW. 010
Kelurahan
Kapuk, Kecamatan Cengkareng
Jakarta Barat,
Indonesia
b. Mr. Tjioe Chandra -
Rp. 50,000,000.-
Address : Jl. Mangga Block GG V/15, RT. 010 RW. 009
Kelurahan Lagoa, Kecamatan Keoja
Jakarta Utara, Indonesia
Lines of Business :
Trading and Distribution of
Industrial Pumps
Production Capacity :
None
Total Investment :
None
Started Operation :
July 2003
Brand Name :
Indotech Mega Perkasa
Technical Assistance :
None
Number of Employee :
17 persons
Marketing Area :
Locals -
100%
Main Customer :
Industrial Manufacturing
Market Situation :
Very Competitive
Main
Competitors :
a. P.T. ADIKARSA
TEGUHBUANA
b. P.T. ADHINUSA LESTARI JAYA
c. P.T. GRUNDFOS POMPA
d. P.T. INDOBARA BAHANA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Duta Gardenia 1
Jalan Husein Sastranegara
Tangerang, Banten Province
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 5.6
billion
2011 – Rp. 6.0
billion
2012 – Rp. 6.5
billion
2013 – Rp. 3.5
billion (January – June)
Net Profit
(estimated) :
2010 – Rp. 336
million
2011 – Rp. 360
million
2012 – Rp. 390 million
2013 – Rp. 210
million (January – June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Tjioe Chandra
Board of Commissioners :
Commissioner -
Mr. Samsuddi Salimin
Signatories :
Director (Mr. Tjioe
Chandra) 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
Proposed
Credit Limit :
Small amount –
periodical review
Based on
investigation the correct name of the Subject is P.T. INDOTECH MEGA PERKASA not
ESSCOM INDUSTRIAL SYSTEMS PTE., LTD., Singapore as stated in your order ref.
no. 245314 dated 28 November 2013.
P.T. INDOTECH
MEGA PERKASA (P.T. IMP) was established in Jakarta based on notary deed Mr.
Efran Yuniarto, SH., No. 4 dated 10 June 2003 with the authorized capital of
Rp. 100,000,000 wholly issued and paid up. The company was founded by Mr.
Samsuddi Salimin (50%) and Mr. Tjioe Chandra (50%), both are Indonesian
businessmen of Chinese extraction. The notary deed of incorporation was
approved by the Ministry of Law and Human Rights in its decision letter No.
C-30168 HT.01.01.TH.2003 dated December 29, 2003.
P.T. IMP has
been operating since July 2003 dealing with trading, import and distribution of
industrial pumps. P.T. IMP is an authorized distributor for ESSCOM INDUSTRIAL SYSTEMS
PTE., LTD., of Singapore, providing essential components and value-added
services to meet the needs of industries basing on three essential values -
Quality, Efficiency and Reliability. ESSCOM INDUSTRIAL SYSTEMS PTE LTD has
achieved a leading role as a Pump & System provider, and Stainless Steel
Sanitary Fitting supplier in this region. It’s provides sales, after sales
service, consultancy, maintenance services and installation of equipment. P.T.
IMP is an exclusive distributor for PCM Pompes (France) and Tecnicapompe
(Italy) pumps, covering Indonesia. P.T. IMP supply industrial
Progressive-Cavity Pump, Peristaltic Pump, Dosing Pump, Diaphragm Pump and Lobe
Pump to industries such as Pulp and Paper, F&B, PCB, Chemical and Waste
Water Treatment. P.T. IMP is also the stockiest for a comprehensive range of
stainless steel sanitary fittings and valves from Singapore. The industrial
pumps uses for all purpose such as domestic building services, industrial end
users, water services, wastewater, aquaculture, pharmaceutical, food and
beverages, textile, cement, pulp & paper mills and other industries. The
whole industrial pump is marketed locally through by its dealer & shops in
Bandung, Jakarta, Surabaya, Semarang, Sumatera, Sulawesi and Kalimantan. We
observe the operation of P.T. IMP is classified a small size company of its
kinds with operation 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, natural oil
industries, 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. IMP remains quite good for it has already controlled wide
marketing chains in many major cities in the country.
Until this time
P.T. IMP has not been registered with Indonesian Stock Exchange, so that they
had not obliged to announce their financial statement. The
management of the company 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. 5.6 billion rose to Rp. 6.0 billion in
2011 increased to Rp. 6.5 billion in 2012. As from January to June 2013 the
sales has amounted at Rp. 3.5 billion with a net profit of Rp. 210 million and
the sales it’s projected to go on rising by at least 6% in 2014. The company
has an estimated total networth of at least Rp. 1.0 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. IMP is led by Mr. Tjioe Chandra (39) 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. INDOTECH MEGA
PERKASA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.20 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.84.15 |
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 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.