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Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. TRINUSA BIMA SAKTI |
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Registered Office : |
C/o Karawaci Office Park, Block A 15-16 Tangerang 15139 Banten Province |
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Country : |
Indonesia |
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Date of Incorporation : |
02.10.1986 |
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Com. Reg. No.: |
No. AHU-AH.01.10-14100 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importing and Distribution of Rubber Products and Spare parts |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Inactive |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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Restricted |
C2 |
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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. TRINUSA BIMA
SAKTI
A d d r e s s :
Head Office
c/o Karawaci
Office Park, Block A 15-16
Tangerang 15139
Banten Province
Indonesia
Phone -
(62-21) 5576 5220 (hunting)
Fax - (62-21) 5576 5226
Building Area - 3 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
02 October 1986
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. C2-2024.HT.01.01.TH.87
Dated 11 March 1987
b. No. AHU-68558.AH.01.02.Tahun 2008
Dated 23 September 2008
c. No. AHU-AH.01.10-14100
Dated 11 May 2011
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 01.319.002.0-032.000
Related Company :
Not available
Capital Structure :
Authorized Capital
- Rp. 1,000,000,000.-
Issued Capital - Rp. 500,000,000.-
Paid up Capital - Rp. 500,000,000.-
Shareholders/Owners :
a. Mrs. Lili
Suryani -
Rp. 400,000,000.- (80%)
Address : Jl. Kampung
Jawa Park 1/9
RT.004/RW.009, Tamansari
Jakarta Barat
Indonesia
b. Mrs. Henny
Sudarpo -
Rp. 100,000,000.- (20%)
Address : Jl. Kramat
II/32, RT.001/RW.005
Kelurahan Senen
Jakarta Pusat
Indonesia
Lines of Business
:
Trading, Importing and Distribution of
Rubber Products and Spare parts
Production
Capacity :
None
Total Investment :
None
Started Operation :
1987 but, the
company has been inactive since June 2011
Technical Assistance :
None
Number of Employee :
None
Marketing Area :
No Comment
Market Situation :
Very Competitive
Business Trend :
No Comment
B a n k e r s :
No Comment
Auditor :
No Comment
Litigation :
No litigation record in our database
Total Net Sales/Revenue :
No Comment
Net Profit (Loss)
:
No Comment
Payment Manner :
No Comment
Financial Comments :
No Comment
Board of Management :
President Director - Mr. Hendra Sudarpo
Director - Mrs. Henny Sudarpo
Board of Commissioner :
Commissioner - Mrs. Lili Suryani AKA Tjhin Lie Lie
Signatories :
President Director (Mr. Hendra Sudarpo)
or Director (Mrs. Henny Sudarpo) which must be approved by Board of
Commissioner (Mrs. Lili Suryani)
Management Capability :
Weak
Business Morality :
Doubted
Credit Risk :
High
Credit Recommendation :
Credit is not recommended
Proposed Credit Limit :
C.O.D.
P.T. TRINUSA
BIMA SAKTI (P.T. TBS) was established on October 2, 1986 with an authorized
capital of Rp. 250,000,000.- of which Rp. 90,000,000.- was issued and fully paid up. The founding
shareholders of the company are the late Mr. Harjanto Sudarpo AKA Tjioe Tjo
Djam, his wife Mrs. Lili (Lily) Surjani AKA Tjhin Lie Lie and his daughter Mrs.
Henny Sudarpo. They are Indonesian
family business entrepreneurs of Chinese extraction. The Article of Association
has been approved by the Minister of Law and Human Rights through Decision
Letter No. C2-2024.HT.01.01.TH.87 dated March 11, 1987.
The Company’s
article of association has been amended for several times, most recently by
notarial deed of Antoni Halim, SH., No. 122 dated March 24, 2011, the issued
capital was raised to Rp. 1,000,000,000.- of which Rp. 500,000,000.- was issued
and fully paid up. Since the time, shareholders of the company are Mrs. Lili
Surjani (80%) and her daughter Mrs. Henny Sudarpo (20%). The amendment to
Articles of Association has been approved by the Ministry of Law and Human
Right through Decision Letter No. AHU-AH.01.10-14100 dated May 11, 2011. No changes have been effected in term of its
shareholding composition and capital structures to date.
Pursuant to the
company’s notary deed, P.T. TBS engaged to operate in general trading,
development, industry, road transportation, printing and services. The Company’s registered office located at
Karawaci Office Park, Block A 15-16, Tangerang 15139 and the company can open
branch offices or representative offices at home and abroad.
According to the results of our investigation we noticed that previously
P.T. TBS was engaged in trading
and supplying of mechanical and electrical equipment for tin mining, gold
mining, urea fertilizer plant and dredging contractors. However since 2004 the company’s activity has been shifted
to engages in trading, import, and distribution of rubber products such as
buckets and spare parts for bucket line dredges. Ms. Sisca, the
former a marketing staff of P.T.
TBS, when reached by phone said that
PT TBS has not been in operation since mid-2011 (lockout) and all of its employees have also been dismissed. She also did not know
why the
company was shutdown. However it is likely that operations
did not go smoothly and continuously suffered losses. According
to Ms. Sisca, that building
office hired by P.T. TBS has been occupied by another company.
Furthermore we have checked to the Department of Law and Human Rights (DLHR) to ensure that whether
the PT TBS has been liquidated. But our source
at DLHR said that until now there is no notice from the
shareholders of PT TBS concerning the shutdown of the company. According to our source in DLHR, that in Indonesia there are many
companies that
not actively operate or shut down, but never reported their case to DLHR. This is generally done by these
companies, to avoid payment of taxes and duties.
We have a strong suspicion that P.T. TBS
has been abandoned by its shareholders. Company's financial strength was only
Rp. 500 million which was paid capital as contained in its notary deed. But we strongly suspect that the capital had been
spent and the currently PT TBS does not have any assets.
In its last notary deed, P.T. TBS was chaired
by Mr. Hendra Sudarpo (53) as president
director and assisted by his sister Mrs. Henny Sudarpo (48) as director. Their reputation in trading and supplying of rubber products
is also not prominent. In addition they
were also not who bona fide or credible businessmen. We strongly suspect that the management
company has been dissolved, but was not reported to the Department of Law and
Human Rights.
We therefore recommend to be very careful when doing business partnership with this company. We recommend to cancel the business transaction plan that was prepared for this company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
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 |
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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 |
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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.