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Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. LAJU BRATA |
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Registered Office : |
Jl. Raya Manyer No. 36 Surabaya 60284 |
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Country : |
Indonesia |
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Date of Incorporation : |
19.04.2010 |
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Com. Reg. No.: |
No. AHU-AH.01.10-24050 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
General contracting and technical supplier of Industrial Products for sugar industries |
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No. of Employees : |
20 persons |
RATING & COMMENTS
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Indonesia |
B1 |
B1 |
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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 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. LAJU BRATA
Head Office
Jl. Raya Manyer
No. 36
Surabaya 60284
Indonesia
Phone -
(62-31) 5016366, 5016411, 5016488
Fax - (62-31) 5016351
Email - info@lajubrata.com
Website - http://www.lajubrata.com
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Owned
Date of
Incorporation :
19 April 2010
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law
and Human Rights
a. No. AHU-30185.AH.01.01.Tahun 2010
Dated 14 June 2010
b. No. AHU-AH.01.10-24050
Dated 03 July 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP – Not available
Related Companies :
a. P.T. TELINI (General Contracting Services)
b. FILIPINO RESTAURENT – Surabaya (Restaurant Services)
Capital Structure :
Authorized Capital
- Rp. 3,000,000,000.-
Issued Capital - Rp. 1,000,000,000.-
Paid up Capital - Rp. 1,000,000,000.-
Shareholders/Owners :
a. Mrs. Mary An
clemente De Mesa - Rp. 849,000,000.- (84%)
Address
: Jl. Dharmahusada Utara AA/14
Surabaya, East Java
Indonesia
b. Mr. Andreas
Putradjaja - Rp.
150,000,000.- (15%)
Address : Jl. Salak No. 30
Surabaya, East Java
Indonesia
c. Mr. Lie Snggih
Kartono Halim - Rp. 1,000,000.- ( 1%)
Address : Jl. Bukit Golf Blok D.1 No. 20A
Citraland, Surabaya,
East Java
Indonesia
Lines of Business
:
General contracting and technical supplier
of Industrial Products for sugar industries
Agent/Distribution
of :
a. BROADBENT, Sugar Centrifugal of UK
b. SKATOSKALO, Tools & Equipment of UK
c. BENTELER, Steel and Tube Corp., of USA
d. EWART Sugar Chains and Sugar Mills of UK
e. FERGUSON Perforating, Sugar Screens of USA
Total Investment :
None
Started Operation :
June 2010
Brand Name :
None
Technical Assistance :
None
Number of Employee :
20 persons
Marketing Area :
Domestic - 100%
Main Customers :
a. P.T. Pabrik
Gula MADUBARU (PG. Madukismo)
b. P.T. Pabrik
Gula CANDI BARU
c. P.T. Pabrik
Gula RAJAWALI I & II
d. P.T. Pabrik Gula DJATIROTO
Market Situation :
Very Competitive
Main Competitors :
a. P.T. SEMPURNA
JAYA LAJU
b. P.T. SARANA TEKNIK
c. P.T. BOMA BISMA INDRA
d. P.T. MESIN
MAKSINDO
e. Etc.
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank UOB INDONESIA
Surabaya
Branch
Jl. Veteran
No. 42-44
Surabaya,
East Java
Indonesia
b. P.T. Bank MEGA Tbk
Komp. Darmo Park I Blok III-A No. 7-8
Jl. Mayjend Sungkono,
Surabaya, East Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 5.6 billion
2011 – Rp. 10.4
billion
2012 – Rp. 12.8
billion
Net Profit
(estimated) :
2010 – Rp. 310 million
2011 – Rp. 580 million
2012 – Rp. 710 million
Payment Manner :
Almost promptly
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Andreas Putradjaja
Board of Commissioner :
Commissioner -
Mrs. Mary Ann Clemente De Mesa
Signatories :
Director (Mr. Andreas Putradjaja) which
must be approved by Board of Commissioner (Mrs. Mary Ann Clemente De Mesa)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Above average
Credit Recommendation :
Credit should be extended under
guarantee
Proposed Credit Limit :
C.O.D. To small amount
P.T. LAJU BRATA
was established in Surabaya (East Java) on April 19, 2010 with an authorized capital
of Rp. 3,000,000,000.- of which Rp. 1,000,000,000.- was issued and fully paid up. The founding
shareholders of the company were Mrs. Mary Ann Clemente De Mesa, an Indonesian
businesswoman of Philippine extraction, Mr. Andreas Putradjaja and Mr. Sugiharta,
both are Indonesian businessmen of Chinese extraction. The Articles of Association has been approved
by the Ministry of Law and Human Rights through Decision Letter No.
AHU-30185.HT.01.01.Tahun 2010 dated June 14, 2010. In April 2012, Mr. Sugiharta pulled out and
his shares are sold to Mr. Lie Singgih Kartono Halim, an Indonesian businessman
of Chinese extraction. The amendment to
articles of association has been approved by the Minister of Law and Human Rights
through Decision Letter No. AHU-AH.01.10-24050 dated July 3, 2012. No changes have been effected in term of its
shareholding composition and capital structures to date.
P.T. LAJU BRATA
had been operating since June 2010 in general contracting and technical supply
of industrial products for sugar industries, such as sugar mills spares
(chains, crown wheel, pump, sugar mills roller), boiler & centrifugal
(screens, tube & pipes), and sugar mills machinery (cane crushing mills,
sugar dryer, tube cleaning system, transmission & equipments). The company is an agent for BROADBENT, Sugar Centrifugal of UK,
SKATOSKALO, Tools & Equipment of UK, BENTELER, Steel and Tube Corp., of
USA, EWART Sugar Chains and Sugar Mills
of UK and FERGUSON Perforating, Sugar Screens of USA Ms. Rini Cahyaningsih, a marketing staff of
the company explained that its technical and industrial product supplied to
sugar industries among others are PT.
Pabrik Gula MADUBARU, PT. Pabrik Gula CANDI BARU, PT. Pabrik Gula RAJAWALI I &
II, and PT. Pabrik Gula DJATIROTO. We
observed that the operation of P.T. LAJU BRATA has been running well and
growing slowly in the last three years.
In overall we
find the demand for technical goods and industrial products for sugar
industries has kept on rising by 6% to 7% per annum in the last three years in
line with the sustained growth in sugarcane industry in Indonesia as well as
the improving of population income. 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 6% per year. Market competition is very tight due to a
large number of similar companies operating in the country. P.T. LAJU BRATA in this case is not doing
very badly on account of it has built a fairly close connection with several
leading sugar industries in Indonesia.
Until this time P.T. LAJU
BRATA has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T.
LAJU BRATA 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, increased to Rp. 10.4 billion in 2011 and
rose again to Rp. 12.8 billion in 2012.
The operation in 2012 yielded an estimated net profit by at least Rp.
710 million and the company has an estimated total net worth by at Rp. 3.5
billion. We observe that P.T. LAJU BRATA
is supported by financially fairly strong behind it. So far, we have never
heard of the company having been black listed by the Central Bank (Bank
Indonesia). The company disclosed that the company usually pays its debts
punctually to suppliers.
The management
of P.T. LAJU BRATA is led by Mr. Andreas Putradjaja (49) as director and Mrs.
Mary Ann Clemente De Mesa (38) as commissioner. The management is also handled by a number
of professional staff, having maintained a wide business relation with private
businessmen at home and abroad as well as with government sector. So far, we
did not hear 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.
We believed that
PT. LAJU BRATA is fairly good for business transaction. However, since this
company just about two years in operation commercially, so we recommend caution
when going to provide fresh loans to them. Or it
should obtain sufficient guarantees of all shareholders.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.