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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. AMAN JAYA PERDANA |
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Registered Office : |
Jl. Ir. Sutami Km. 7
Tanjungkarang Timur, Bandar Lampung 35122 |
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Country : |
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Date of Incorporation : |
11.03.1989 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Import and Distribution of Agricultural Products |
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No. of Employees : |
570 |
RATING & COMMENTS
|
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 |
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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
P.T. AMAN JAYA
PERDANA
Head Office &
Warehouse
Jl. Ir. Sutami Km. 7
Tanjungkarang Timur,
Bandar Lampung 35122
Lampung Province
Indonesia
Phone - (62-271) 350135, 350015, 350304
Fax. - (62-271) 350134, 351359
Email - amanjaya@indo.net.id
Building Area - 1,200 sq. meters
Office Space - 280 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation
:
11 March 1989
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
a. No.
AHU-46557.AH.01.02.Tahun 2008
Dated 31 July 2008
b. No. AHU-AH.01.10-21202
Dated 08 September 2008
Company Status :
National Private Company
Permit by the
Government Department :
a. The Department of Finance
NPWP No. 01.213.515.8-322.000
b. The Department of Industry and Trade
TDP No. 070115100076
Dated 30 September 2005
Related Companies :
a. P.T. PALM LAMPUNG PERSADA (Palm Oil Processing Industry)
b. P.T. BUKIT ALAM SURYA (Real Estate Development)
c. P.T. BUKIT
SAMUDERA PERKASA (Sea Transportation Services)
d. P.T. GUNA ARENA YUDA (General Trading)
e. P.T. ATOSIM LAMPUNG PELAYARAN (Shipping)
f. P.T. TANJUNG DAMAI LESTARI (Real Estate Developer)
g. P.T. SARANA INDOTRANS MAKMUR (General Fuel Station Services)
Capital Structure :
Authorized Capital - Rp. 1,500,000,000.-
Issued Capital - Rp. 1,500,000,000.-
Paid up Capital - Rp. 1,500,000,000.-
Shareholders/Owners :
a. Mr. Aman AKA Sim Yung Thai -
Rp. 1,350,000,000.- (90%)
Address : Jl. Selamet Riyadi Komp. TSI Blok A No. 1
Teluk Betung Selatan
Bandar Lampung - Indonesia
b. Mr. Ronald Wijaya - Rp. 150,000,000.- (10%)
Address : Jl. Selamet Riyadi Komp. TSI Blok A No. 1
Teluk Betung Selatan
Bandar Lampung - Indonesia
Lines of Business :
Trading, Export-Import and Distribution of Agricultural Products
Production Capacity :
None
Total Investment :
Owned Capital - Rp. 40.0 billion
Started Operation :
1989
Brand Name :
None
Technical Assistance
:
None
Number of Employee :
570 persons
Marketing Area :
Export - 100 %
Main Customers :
Buyers in the USA, Europe Countries such as Germany, the Netherlands, Switzerland
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI SAMPOERNO
d. C.V. PUTRA NUSA
e. P.T. DAKAI IMPEX
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Yos Sudarso No. 100
Bandar Lampung
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Raden Intan No. 1
Bandar Lampung
Indonesia
c. P.T. Bank CIMB NIAGA Tbk
Jl. Malahayati No. 34-40
Bandar Lampung
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 139.0 billion
2011 – Rp. 155.0 billion
2012 – Rp. 168.0 billion
2013 – Rp. 91.0 billion (January – June)
Net Profit (estimated) :
2010 – Rp. 7.3 billion
2011 – Rp. 8.2 billion
2012 – Rp. 8.9 billion
2013 – Rp. 4.8 billion (January – June)
Payment Manner :
G o o d
Financial Comments :
Satisfactory
Board of Management :
President
Director - Mr. Aman AKA Sim Yung Thai
Director - Mr. Ronald Wijaya
Board of Commissioner :
Commissioner - Mrs. Lie Mariani
Signatories :
President
Director (Mr. Aman AKA Sim Yung Thai) or Director (Mr. Ronald Wijaya) which
must be approved by Board of Commissioner (Mrs. Lie Mariani)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below
average
Credit Recommendation :
Credit
should be proceeded normally
Proposed Credit Limit
:
Moderate amount
P.T. AMAN JAYA PERDANA (P.T. AJP) was established in Bandar Lampung, in April 1989 with an authorized capital of Rp. 10,000,000.- issued capital of Rp. 3,000,000.- entirely paid up. The founding shareholders are Mr. Aman AKA Sim Yung Thai, Mr. Saleh Safei, Mr. Subiyono, Mr. Tito Hargianto and Mr. Suryadarma. They are Indonesian businessmen of Chinese extraction. In August 1996, the authorized capital was raised to Rp. 1,500,000,000.- entirely was issued and fully paid up. Concurrently, Mr. Saleh Safei, Mr. Subiyono, Tito Hargianto and Mr. Suryadarma pulled out and it whole shares is sold to Mr. Edy Susilo, Mr. Yanto Adiyanto, Mr.Simon Susilo, Mr. Toto Susilo, Mr. Ali Susilo and Mrs. Aminah. They are also Indonesian businessmen of Chinese extraction.
In June 2008, Mr. Edy Susilo, Mr. Yanto Adiyanto, Mr. Simon Susilo, Mr. Toto Susilo and Mrs. Aminah pulled out and its whole shares are sold to Mr. Aman, Mr. Ali Susilo and Mr. Ronald Wijaya (a son of Mr. Aman). In August 2008, Mr. Ali Susilo pulled out and its whole shares are sold to Mr. Aman. Since that time, the shareholders of the P.T. AJP are Mr. Aman (90%) and his son Mr. Ronald Wijaya (10%). The deed of amendment was made by Mr. Djoni, SH., a public notary in Bandar Lampung and it has been approved by the Minister of Law and Human Rights through its Decision Letter No. AHU-46557.AH.01.02.Tahun 2008 dated July 31, 2008 and No. AHU-AH.01.10-21202, dated September 8, 2008. No changes have been effected in term of its shareholding composition and capital structures to date.
P.T. AJP has been in operation since 1989 in trading, export and distribution of agricultural products. Mr. Bambang, an exporting staff of the company explained that the whole agricultural products likes black paper, coffee beans, crude palm oil (CPO), Crude Palm Kernel Oil (CPKO), and palm kernel expeller bought form farmer and palm oil refinery companies in Sumatra island, Indonesia. Then, the whole products are exported to the United State of America and European countries such as Germany, the Netherlands, Switzerland and other counties. We observe that P.T. AJP 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.
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. AJP to be in a quite favorable position for having already got hold of a steady clientele in the country and abroad.
Until this time P.T. AJP 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 2010 is Rp. 139.0 billion increased to Rp. 155.0 billion in 2011 and rose again to Rp. 168.0 billion in 2012. The operation in 2012 yielded an estimated net profit at least Rp. 8.9 billion and the company has an estimated total asset at Rp. 45.0 billion. It is forecasted that total sales turnover of the company will increase at least 8% in 2013. So far, we have never heard of the company having been black listed by the Central Bank (Bank Indonesia). The company usually pays its debts punctually to suppliers.
P.T. AJP's management headed by Mr. Aman AKA Sim Yung Thai (59) as president director, a businessman who experienced for more than 23 years in the field of trading and export importing of agricultural products. In daily activities, he is assisted by his son Mr. Ronald Wijaya (29) as director. We observed that management’s reputation in said business is fairly good. The company has had wide relation in the realm of the private businessmen inside and outside the country. Their relation with the government is fairly good. So far, we have never heard that the company’s management involved in the 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. AMAN JAYA PERDANA 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.61.87 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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.