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Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. LIKA DAYATAMA |
|
|
|
|
Registered Office : |
Komplek Ruko Puri Mutiara Blok A No. 110-111 Sunter Agung Distict, Tanjung Priok
Jakarta Utara 14350 |
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|
|
|
Country : |
Indonesia |
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|
|
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Date of Incorporation : |
29.01.2003 |
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|
|
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Com. Reg. No.: |
No. AHU-AH.01.10-08123 |
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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 : |
40 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 |
|
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. LIKA DAYATAMA
Head Office
Previous address:
Komplek Griya Inti Sentosa Blok N3 No. 42
Jalan Griya Agung Sunter Podomoro
Jakarta 14350
Indonesia
Phones - (62-21) 8098343, 6404122
Fax. - (62-21) 6404121
New address
Komplek Ruko Puri
Mutiara Blok A No. 110-111
Sunter Agung Distict, Tanjung Priok
Jakarta Utara 14350
Indonesia
Phones - (62-31) 6583 5001, 6583
5002
Fax. - (62-31) 6583 7666
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
29 January 2003
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-28177.AH.01.02.Tahun 2009
Dated 24 June 2006
b. No.
AHU-34455.AH.01.02.Tahun 2009
Dated 22 July 2009
c. No.
AHU-AH.01.10-08123
Dated 06 April 2010
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 02.238.691.6-046.000
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. Mr. Andy
Purnawijaya Then - Rp. 300,000,000.-
(60%)
Address : Jl. Ps Glodok Selatan No. 7
RT.03/RW.01, Glodok
Jakarta Barat
b. Mr. Ivan - Rp. 200,000,000.- (40%)
Address : Jl. Sukapura I No. 3
RT.02/RW.01,
Sukapura, Kejaksan
Cirebon, West Java
Lines of Business
:
Trading, Export-Import and Distribution of
Agricultural Products
Production
Capacity :
None
Total Investment :
a. Owned Capital - Rp. 2.5 billion
b. Loan Capital - None______
c. Total
Investment - Rp. 2.5 billion
Started Operation :
June 2003
Brand Name :
None
Technical Assistance :
None
Number of Employee :
40 persons
Marketing Area :
a. Local - 60%
b. Export -
40%
Main Customers :
a. Traditional markets
in Jakarta and its surroundings
b. Supermarkets
and Hypermarkets
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. C.V. SUMBER
BUMI JAYA
f. C.V. ARSAM
PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i. Etc.
Business Trend :
Fluctuating
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Enggano No.
22-23
Tanjung
Priok, Jakarta Utara
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Enggano No. 42-42B
Tanjung Priok, Jakarta Utara
Indonesia
c. P.T. Bank NUSANTARA PARAHYANGAN
Jl. K.H Wahid
Hasyim No. 171
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Income/Revenues (estimated) :
2009 – Rp. 15.2
billion
2010 – Rp. 16.9
billion
2011 – Rp. 20.0
billion
2012 – Rp. 18.5
billion
Net Profit (Loss)
:
2009 – Rp. 1.0
billion
2010 – Rp. 1.1
billion
2011 – Rp. 1.3 billion
2012 – Rp. 1.2
billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board
of Management :
Director - Mr. Andy Purnawijaya Then
Operational Manager - Mr. Yusuf Taufik
Board
of Commissioners :
President Commissioner -
Mr. William Tjugiarto
Commissioners -
a. Mr. Ivan
b. Mr. Ifan Effendy
Signatories :
Director
(Mr. Andy Purnawijaya Then) or Operational Manager (Mr. Yusuf Taufik) which
must be approved by Board of Commissioners.
Management
Capability :
Good
Business
Morality :
Good
Credit
Risk :
Average
Credit
Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small
amount – periodical review
P.T. LIKA
DAYATAMA (P.T. LD) was established in Jakarta on January 29, 2003 with an
authorized capital of Rp. 1,000,000,000.- issued capital of Rp. 500,000,000.-
entirely paid up. The founding shareholders are Mr. Akmal Apendra (60%) and Mr.
Kusmanto (40%), both are indigenous businessmen. The Articles of Association has been approved
by the Minister of Law and Human Rights through Decision Letter No. C-04205
HT.01.01.TH.2003 dated February 27, 2003.
The Company’s article of association has been amended for several times,
and by notarial deed of Musa Muamarta, SH., No. 14 dated June 9, 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 Decree No.
AHU-34455.AH.01.02.Tahun 2009 dated July 22, 2009.
Most recently
by notarial deed of Nelson Eddy Tampubolon, SH., No. 39 dated February 20, 2010
the founding shareholders pulled out and the whole shares are sold to Mr. Andy
Purnawijaya Then (60%) and Mr. Ivan (40%),both are Indonesian businessmen of
Chinese extraction. The notarial Deed has been approved by the Minister of
Law and Human Rights of the Republic of Indonesia through Decree No.
AHU-AH.01.10-08123 dated April 6, 2010.
P.T. LD has
been in operation since June 2003 in trading, import and distribution of
agricultural products. Mr. Irfan, an
administrative staff of the company explained that the whole agricultural
products likes garlic, groundnut kernels, green mung beans, soya bean,
shallots, etc. are imported from China, India and Taiwan. Then, the whole products supplied to
traditional markets, supermarkets and snack food industries in Jakarta and its
surroundings. Beside, PT. LD also
dealing with importing services. To
support its operation, P.T. LD is in cooperation with severing shipping companies
within and outside the country. We
notice that P.T. LD is classified as a small-sized company of its kind in the
country of which the operation has been growing in the last three years.
Media local checks:
Horticulture importers protest plan to shutdown Tj. Priok Port
Fri, 02/17/2012 - 09:06 In
Horticulture
Importers of horticulture products protested the government’s plan to stop
fruit and vegetable import via the country’s main Tanjung Priok Port.
Under the Ministry of Agriculture regulation, which will become
effective March 19, 2012, the entry point for imported fruits and vegetables
would be diverted to Tanjung Perak Port in Surabaya, East Java.
Yusuf Taufik, Operational Manager of PT Lika Dayatama, which imports
about 30,000 tons of garlic annually from China and Taiwan, was quoted by
Kontan on Friday as saying that the planned new policy would increase the cost
of importing garlic by 30-50 percent, which eventually would have to be
shouldered by consumers.
Other horticulture product importers such as PT Putra Mandiri and PT
Arif Rahman Persada also protested the new policy. The East Java province
administration has also opposed plan to divert horticulture import entry point
from Jakarta to Surabaya.
Under the new policy, imported horticulture products would only be
allowed to enter the country via four entry points including the Tanjung Perak
Port, Makassar Port, Belawan Port, and the Soekarno-Hatta International
Airport.
Meanwhile, Arifin Tasrif, Head of the Quarantine Center at the Ministry
of Agriculture, said that the government is currently reviewing the plan to
stop horticulture import via Tanjung Priok. (rei)
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. LD to be in a quite favorable position for having
already got hold of a steady clientele in the Java and surroundings.
Until
this time P.T. LD has not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. P.T. LD’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 of
Rp. 16.9 billion increased to Rp. 20.0 billion in 2011 and declined to Rp. 18.5
billion in 2012. The operation in 2012
yielded an estimated net profit at least Rp. 1.2 billion and the company has an
estimated total networth at Rp. 4.0 billion.
So far we did not hear that the P.T. LD has been black listed by Bank
Indonesia (Central Bank) or having detrimental cases being settled in local
district court. The company usually pays
its debts punctually to suppliers.
Since February 2010, the management of the
company has been led by Mr. Andy Purnawijaya Then (51) as Director. In daily activities he is assisted by Mr.
Yusuf Taufik (48) as Operational Manger.
The management, which is evaluated quite creative and dynamic, also has
succeeded in expanding their overseas marketing network. We consider the management
is quite capable of further developing business in the future. They have close
relations with many high-ranking government officials as well as with private
businessmen within and outside the country. 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.
P.T. LIKA DAYATAMA is appraised good for business
transaction. But owing to 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.53.89 |
|
|
1 |
Rs.84.92 |
|
Euro |
1 |
Rs.72.51 |
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.