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Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. LINTAS BUANA UNGGUL |
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|
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Registered Office : |
Jalan Pangeran Jayakarta No. 68 Block A – 18 Jakarta Pusat, 19730 |
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Country : |
Indonesia |
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Year of Incorporation : |
2000 |
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Com. Reg. No.: |
No. AHU-33228.AH.01.02.TH.2012 |
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|
|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading, Export Import and Distribution of Agricultural Commodities Products |
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No. of Employees : |
18 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
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. LINTAS
BUANA UNGGUL
Head Office
Jalan Pangeran
Jayakarta No. 68 Block A - 18
Jakarta Pusat,
19730
Indonesia
Phones -
(62-21) 6264733 (Hunting)
Fax - (62-21) 6281215
E-mail - tunasself@yahoo.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Building
Status - Rent
Branch
Jalan Perak Timur 512 Block C - 9
Surabaya, 60165
East Java
Indonesia
Phones -
(62-31) 329 2260 (Hunting)
Fax - (62-31) 328 3276
E-mail - sby.tunas@yahoo.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation :
2000
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. AHU-79762.AH.01.02.TH.2008
Dated 30 October 2008
- No. AHU-33228.AH.01.02.TH.2012
Dated 18 June 2012
Company Status
:
National Private Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
02.417.040.9-026.000
Related
Companies :
a. P.T. BUANA TUNAS SEGARA SUMBUR (Trading and
Distribution of Agricultural Commodities)
b. P.T. PRIMA NUSA LENTERA (Trading, Import and
Distribution of Garlic, Red Onion, Leek
Onion and Ground Nut)
c. P.T.
TUNASUTAMA SARIPERKASA (Trading, Import and Distribution of Agricultural
Commodities and Investment Holding)
Capital
Structure :
Authorized
Capital : Rp.
30,000,000,000.-
Issued Capital : Rp.
10,500,000,000.-
Paid up Capital : Rp.
10,500,000,000.-
Shareholders/Owners
:
a. P.T. TUNASUTAMA SARIPERKASA - Rp. 9,712,500,000.-
Address :
Jl. Pangeran Jayakarta 68/A - 18
Mangga Dua Selatan,
Jakarta Pusat
Indonesia
b. Mr. Farid Helingo
- Rp. 525,000,000.-
Address : Jl. Haji Achmad RT.
09/04
Bale Kambang,
Kramat Jati
Jakarta Timur
Indonesia
c. Mr. Philip Tamzir
- Rp. 262,500,000.-
Address : Taman Kalijaga Permai Block H/14
Harjamukti,
Cirebon
West Java
Indonesia
Lines of
Business :
Trading, Export Import
and Distribution of Agricultural Commodities Products
Production Capacity :
N o n e
Total Investment :
N o n e
Started
Operation :
2000
Brand Name :
Lintas Buana
Unggul
Technical
Assistance :
None
Number of
Employee :
18 persons
Marketing Area
:
Local - 100%
Main Customer
:
Traditional
Market
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. GOLDEN
HARVESTINDO
b. P.T.
SARIMAKMUR TUNGGALMANDIRI
c. P.T. TEMPUREJO
d. P.T. TIRTA
BAHAGIA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank PANIN
Tbk
Jalan Pangeran
Jayakarta
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 11.2 billion
2011 – Rp. 12.6
billion
2012 – Rp. 13.2
billion
Net Profit
(estimated) :
2010 – Rp. 560
million
2011 – Rp. 630
million
2012 – Rp. 760
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Farid Helingo
Director -
Mr. Philip Tamzir
Board of Commissioners :
Commissioner -
Mr. Ifan Effendy
Signatories :
President Director (Mr. Farid
Helingo) or the Director (Mr. Philip Tamzir) which must be approved by Board of
Commissioner
Management Capability :
G o o d
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. LINTAS
BUANA UNGGUL (P.T. LBU) was established in Jakarta in 2000’s with an authorized
capital of Rp. 200,000,000 issued capital of Rp. 50,000,000 fully and paid up.
The founding shareholders of the company are Mr. Ifan Effendy with his business
partners namely Mr. Farid Helingo and Mr. Philip Tamzir, they are Indonesian
businessmen of Chinese origins. The company notary deed has been changed in
September 2008 the authorized capital was raised to Rp. 1,000,000,000 issued
capital to Rp. 250,000,000 entirely paid up. With this development the
composition of its shareholders changed to become Mr. Ifan Effendy (70%), Mr.
Farid Helingo (15%) and Mr. Philip Tamzir (15%). The deed of amendment was made
by Mr. Nelson Eddy Tampubolon SH., a public notary in Jakarta was approved by
the Ministry of Law and Human Right in its Decision Letter No.
AHU-79762.AH.01.02.TH.2008, dated October 30, 2008. Then according to the latest
revision of notary deed of Mr. Nelson Eddy Tampubolon, SH., No. 24 dated 16 May
2012 the company authorized capital was increased to Rp. 30,000,000,000 issued
capital to Rp. 10,500,000,000 fully and paid up. On the same occasion Mr. Ifan
Effendy withdrew and the whole share taken over by P.T. TUNASUTAMA SARIPERKASA
as new shareholder. With this development the composition of its shareholders
has been changed to become P.T. TUNASUTAMA SARIPERKASA (92.5%), Mr. Farid
Helingo (5%) and Mr. Philip Tamzir (2.5%). The deed of amendments was approved
by the Ministry of Law and Human Rights in its decision letter No.
AHU-33228.AH.01.02.TH.2012 dated June 18, 2012.
We observe that
the majority shareholders is held by Mr. Ifan Effendy, and he is also founder and
business stakes owner of P.T. BUANA TUNAS SEGARA SUMBER, P.T. PRIMA NUSA
LENTERA AGUNG and P.T. TUNASUTAMA SARIPERKASA all engaged in the field of
trading, import and distribution of agricultural commodities products.
P.T. LBU has
been operating since 2000 to deal with trading, export import and distribution
of agricultural commodities products. Mr. Farid Helingo, President Director of
P.T. LBU went on to say the merchandising goods products including are garlic,
ground nuts, red onion. He also added the agricultural commodities products
like garlic is imported from China, ground nuts from India. Besides, the other
products likes red onion is obtained from Brebes (Central Java) and East Java
and the exported to Singapore. Mr. Farid Helingo added the company has exported
spices to China, Thailand, Vietnam, India and Myanmar and it’s depends of the
order bases from the customers and buyers. Then, the whole product likes garlic
and groundnut marketed locally through traditional market in Jakarta, East Java
and Sumatera. We observed that the company’s operation has been growing and
developing well 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. LBU to be in a quite
favorable position for having already got hold of a steady clientele in the
Jakarta, Java and Sumatera.
P.T. LBU 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 amounted to Rp. 11.2 billion rose to Rp. 12.6 billion in
2011 increased to Rp. 13.2 billion in 2012 and projected to go on rising by at
least 5% in 2013. It is projected the company has gained a net profit of Rp.
760 million with an estimated total networth of at least Rp. 10.5 billion. So
far, we did not heard that the company having been black listed by the Central
Bank (Bank Indonesia). The company usually pays its debts punctually to
suppliers.
The management of P.T. LBU is led by Mr. Farid
Helingo (46) a business and professional manager with experience for more than
13 years in trading, export import of agricultural commodities products. But we
are sure the primemover of the company is Mr. Ifan Effendy (58) a businessman
and professional manager with experience in trading, import and distribution of
agriculture commodities products. Daily operation he is assisted by Mr. Philip
Tamzir (53) as a director. The management is handled by experienced staff in
this business, having maintained a wide business relation with private
businessmen at home and abroad as well as with government sectors. So far, we
did not hear that the company’s management involved in business malpractice 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. LINTAS BUANA UNGGUL is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
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.