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Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. GLOBAL SERVICE TEKNIKINDO |
|
|
|
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Registered Office : |
Gedung
Agenesia, 4th Floor Jl.
Pemuda No. 78-B Rawamangun, Jakarta Timur 13220 |
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Country : |
Indonesia |
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Date of Incorporation : |
14.09.2006 |
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|
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Com. Reg. No.: |
No. AHU-AH.01.10-30011 |
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading, Sole Agent and Distribution of Machine, Tools and other industrial products |
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|
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No. of Employees : |
12 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 |
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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. GLOBAL
SERVICE TEKNIKINDO
Head Office
Gedung Agenesia, 4th Floor
Jl. Pemuda No. 78-B
Rawamangun,
Jakarta Timur 13220
Indonesia
Phones -
(62-21) 4788 1846
Fax - (62-21) 4788 1847
Building Area - 5 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Warehouse
Komp. Ruko Mega Grosir Cempaka Mas Blok L-14
Jl. Letjen Suprapto, Cempaka Putih
Jakarta Pusat 10640
Indonesia
Phones -
(62-21) 4288 7417, 4288 9920
Fax - (62-21) 4288 7418
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
14 September 2006
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
a. No.
C-03420 HT.01.01.TH.2007
Dated 15 November 2007
b. No.
AHU-22783.AH.01.02.Tahun 2009
Dated 25 May 2009
c. No.
AHU-AH.01.10-30011
Dated 21 September 2011
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No. 02.145.835.5-027.000
Related/Affiliated
Companies :
Not available
Capital
Structure :
Authorized
Capital - Rp.
1,000,000,000.-
Issued Capital - Rp.
1,000,000,000.-
Paid up Capital - Rp.
1,000,000,000.-
Shareholders/Owners
:
a. Mr. Tony
Agus Prianza - Rp.
600,000,000.- (60%)
Address : Komplek Alam Melati No. B-5
Bandung
West Java
b. Mr. Diki
Aripin - Rp.
250,000,000.- (25%)
Address :
Jl. Cempaka III Blok B-II No.11
Jatiwaringin
East
Jakarta
c. Mr. Mohammad Azrul
Azwar - Rp. 150,000,000.- (15%)
Address :
Jl. KH H. Basri Sulaiman No. 296
Pangkal Pinang
Bangka
Belitung Province
Lines of
Business :
Trading, Sole Agent and Distribution of Machine, Tools and other
industrial products
Sole Agent and
Distribution of :
WENDT (India)
Limited of India, Grinding wheels (Diamond and Cubic Boron Nitride), Special
Purpose Grinding Machines and tools.
Total
Investment :
None
Started
Operation :
January 2007
Brand Name :
GLOBAL SERVICE
Technical
Assistance :
None
Number of
Employee :
12 persons
Marketing Area
:
Local - 100%
Main
Customers:
a. Automotive Industries
b. Pulp and Paper Industries
c. electronic Industries
d. Glass and Ceramic Tile Industries
e. Steel Product Industries
Market
Situation :
Very Competitive
Main Competitors :
a. PT. Jaya Metal
Teknika
b. PT. Total Sarana Graha
c. PT. Badja Tehnik Machinery
d. PT. Fata Metal Mandiri Sejati
e. PT. Kencana Tekindo
f. PT. Tira
Austenite Tbk
Business Trend
:
Growing
B a n k e r :
PT. Bank MANDIRI Tbk.
Jl. Pemuda No.10 Kav. 79
Rawamangun
Jakarta Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Total
Income/Sales :
2010 – Rp. 9.6 billion
2011 – Rp. 11.0
billion
2012 – Rp. 12.8
billion
Net Profit
(Loss) :
2010 – Rp. 380
million
2011 – Rp. 440
million
2012 – Rp. 510
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Tony Agus Prianza
Director -
Mr. Diki Aripin
Board of Commissioners :
Commissioner -
Mr. Mohammad Azrul Azwar
Signatories :
President Director (Mr.
Tony Agus Prianza) or Director (Mr. Diki Aripin) which must be approved by
Board of Commissioner (Mr. Mohammad Azrul Azwar)
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. GLOBAL
SERVICE TEKNIKINDO (P.T. GST) was incorporated in Jakarta based on notarial
Deed of Ingrid Lannywaty, SH., No. 82 dated
14 September 2006 with the authorized capital of Rp. 1,000,000,000.-
entirely was issued and fully paid up. The founding shareholders of the company
are Mr. Erwin Dhanie Siagian (40%), Mr. Djunaedi Bunjamin (30%) and Mr. Trijaya
Danisaputra (30%). The Deed of establishment has been approved by the Minister
of Justice and Human Rights of the Republic of Indonesia through Decision
Letter No. C-03420.HT.01.01.TH.2007 dated 15 November 2007. The articles of
association of the company have frequently been revised. Based on notarial deed of Inggrid Lannywaty,
SH., No. 132 dated 25 February 2009 concerning changes of the whole article of
association of the Company’s to conform with Law No. 40 Year 2007 concerning
Limited Liability Company. The notarial
Deed has been approved by the Minister of Law and Human Rights of the Republic
of Indonesia through Decision Letter No. AHU-22783.AH.01.02.Tahun 2009 dated 25
May 2009.
Most recently by notarial deed of
Winnie Susanti Hadiprodjo, SH., No. 01 dated September 14, 2011 the founding
shareholders pulled out and the whole shares are sold to Mr. tony Agus Prianza
(60%), Mr. Diki Aripin (25%) and Mr. Mohammad Azrul Azwar (15%). The amendment
to Article of Association has been approved by the Minister of Law and Human
Rights of the Republic of Indonesia through Decision Letter No. No.
AHU-AH.01.10-30011 dated September 21, 2011.
P.T. GST has been
operating since early 2007 to deal with trading, sole agent and distribution of
machine, tools and other industrial products.
Mr. Asep Budiman, a warehouse staff of P.T. GST explained that the
company is the sole agent for WENDT Products such as grinding wheels (diamond
and cubic boron nitride), special purpose grinding machines and tools. P.T. GST was appointed as the sole agent by
WENDT (India) Limited of India since 2007. The company's merchandise products are
entirely marketed in the country, particularly in the ranks of automotive
industries, pulp and paper industries, electronics, glass and ceramic wares and
steel industries. The various industries
consuming its production include PT. Toyota Astra Motors, PT. Yamaha Motor
Manufacturing, PT. Honda Prospek Motor, PT. Pindo Deli Pulp and Paper, PT.
Tjiwi Kimia Pulp and Paper, PT. Indah Kiat Pulp and Paper, PT. Morita Tjokro
Gearindo, etc. We observe that P.T. GST
is classified a small-size company of its kinds which operation has been
growing slowly in the last three years.
The market trend
of machineries, tools and other industrial products had been rising by the
average 6% to 7% per year within the last five years in line with the growth of
automotive industries, pulp and paper industries and a stable economic growth
in the period. Market competition is very tight due to a large number of
similar companies operating in the country.
At present, there are many of machineries, tools and other industrial
products are being offered on the domestic market. Most of the above products
are imported from China, Japan, the European countries and USA. But since the
global economic crisis and tight money policy being imposed by Bank Indonesia
in October 2008 the demand was decreased within due to a poor economic
condition, decreasing income per capita and a weak in public purchasing power.
The demand was increasing in the early 2009 due to economic condition was
gradually recovery in the country. The growth rate is now estimated at 5% to 7%
per year. Business position of P.T. GST is favorable for it has controlled a
wide marketing network at home and its brand has been widely known among
consumers in the country.
Until this time P.T. GST has not been registered with Indonesian
Stock Exchange, so that they shall not obliged to announce their financial
statement. Therefore, the company has no obligation to publish financial
statement publicly. P.T. GST’s
management is very reclusive to outsider and rejecting to disclose its
financial condition but we estimated the total sales turnover of the company in
2010 amounted to Rp. 9.6 billion increased to Rp. 11.0 billion in 2011 and rose
again to Rp. 12.8 billion in 2012. The
operation in 2012 yielded a net profit at least Rp. 510 million and the company
has a total asset of Rp. 2.0 billion. It
is projected that total sales turnover of the company will increase at least 6%
in 2013. 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.
P.T. GST's
management is headed by Mr. Tony Agus Prianza (41) as president director, a
young businessman with more than 10 years of experience in trading and
distribution of machinery, tools and other industrial products. In his daily, he is assisted by Mr. Diki
Aripin (35) as director. The company's
management has a quite good reputation in the business. They have wide
relations with many local companies operating in the automotive and pulp &
paper industries. So far, we did not hear that the company’s management
involved in a dirty business practice 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. GST is
sufficiently fairly good for business transaction. However, in view of the
unstable economic condition in the country we recommend to treat prudently in
extending a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
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.