|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. UNIVERSAL AGRI BISNISINDO |
|
|
|
|
Registered Office : |
Jalan Raya Narogong Km. 14 Cikiwil, Bantar Gebang Bekasi, 17310 West Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
11.02.1999 |
|
|
|
|
Com. Reg. No.: |
No. AHU-26924.AH.01.02.TH.2010 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Animal Feed Milling |
|
|
|
|
No. of Employees : |
178 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 more than 6% annually in 2010-12. 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 fiscal deficit below 3%, 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 2013 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 high oil prices.
Source
: CIA
P.T.
UNIVERSAL AGRI BISNISINDO
Head Office & Factory
Jalan Raya
Narogong Km. 14
Cikiwil, Bantar
Gebang
Bekasi, 17310
West Java
Indonesia
Phones -
(62-21) 8250277 (Hunting)
Fax - (62-21) 8250283-84
Land Area - 11,500 sq.
meters
Building Space - 8,000 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation :
11 February 1999
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. C-10349.HT.01.01.TH.1999
Dated 2 June 1999
- No. AHU-26924.AH.01.02.TH.2010
Dated 26 May 2010
Company Status
:
Foreign
Investment (PMA) Company
Permit by the Government
Department :
The Department of Finance
NPWP No.
01.758.310.5-431.000
Related
Company :
P.T. LUXINDO
INTERNUSA (Animal Feed Milling)
Capital
Structure :
Authorized
Capital : Rp.
150,000,000,000.-
Issued Capital : Rp. 84,000,000,000.-
Paid up Capital : Rp. 84,000,000,000.-
Shareholders/Owners
:
a. FUTURE SIGHT INVESTMENT LTD. - Rp. 75,000,000,000.-
Address :
Torotola,
British Virgin
Island
b. Mr. Awaluddin Octo Rachnalim - Rp. 3,150,000,000.-
Address : Komplek JIP I Block F No. 17
Medan Johor, Medan
North
Sumatera
Indonesia
c. Mr. David Eteng -
Rp. 3,150,000,000.-
Address : Jl. Kol. Sugiono No.
18-C
Medan Maimun, Medan
North Sumatera
Indonesia
d. Mr. Drs. Kiong Tat Shiong - Rp. 1,350,000,000.-
Address : Jl. Sikambing Raya
No. 2 A
Medan Petisah,
Medan
North Sumatera
Indonesia
e. Mr. Salim Chandra -
Rp. 1,350,000,000.-
Address : Komplek Citra Wisata
Block IX/38
Medan Johor,
Medan
North Sumatera
Indonesia
Lines of
Business :
Animal Feed
Milling
Production
Capacity :
Animal Feed - 720,000
tons p.a.
Total
Investment :
a. Equity Capital - Rp.
84.0 billion
b. Loan Capital - Rp.
20.6 billion
c. Total Investment - Rp. 104.6 billion
Started
Operation :
2000
Brand Name :
Universal Agri
Bisnisindo
Technical
Assistance :
None
Number of
Employee :
178 persons
Marketing Area
:
Export -
70%
Local - 30%
Main Customer
:
Animal Feed
Distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. CHAROEN
PHOKPHAND INDONESIA
b. P.T. GOLD COIN
INDONESIA
c. P.T. INDOJAYA AGRINUSA
d. P.T. MALINDO FEEDMILL
e. Etc.
Business Trend
:
Growing
B a n k e r s
:
a. Hongkong and Shanghai Banking Corp. Ltd.
World Trade Centre
Jalan Jend. Sudirman Kav. 29-31
Jakarta Selatan
Indonesia
b. P.T. Bank NEGARA INDONESIA Tbk
Ruko Plaza Menteng Block B No. 19
Jalan M.H. Thamrin
Bekasi, West Java
Indonesia
c. P.T. Bank UOB BUANA Tbk
Jalan Asemka No. 32-33
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 142.0
billion
2011 – Rp. 151.0
billion
2012 – Rp. 160.0
billion
Net Profit
(estimated) :
2010 – Rp. 10.6
billion
2011 – Rp. 11.5
billion
2012 – Rp. 12.0
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Syafei
Director -
Mr. I Wayan Mertayasa
Board of Commissioners :
Commissioner -
Mr. Andry Jaya
Signatories :
President Director (Mr.
Syafei) or the Director (Mr. I Wayan Mertayasa) which must be approved by Board
of Commissioner
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. UNIVERSAL AGRI
BISNISINDO (P.T. UAB) was incorporated in Jakarta based on notary deed of Mr.
Jhon Langsung, SH., No. 6 dated 11 February 1999 with the authorized capital of
Rp. 45,000,000,000 issued capital of Rp. 20,600,000,000 entirely paid up. The
founding shareholders of the company are Mr. Awaluddin Octo Rachnalim, Mr. Drs.
Khiong Tat Shiong, Mr. Tjong Lim and Mr. David Eteng, they are Indonesian
businessmen of Chinese descent. The company notary documents had been changed a
couple of times. Then according to the latest revision of notary documents of
Mrs. Emi Susilowati, SH., No. 01 dated 4 March 2010 the company authorized
capital was increased to Rp. 150,000,000,000 issued capital to Rp.
84,000,000,000 entirely paid up. Concurrently FUTURE SIGHT INVESTMENT LTD of
British Virgin Island entered into the company as new shareholder. On the same
occasion the company status was converted into Foreign Investment (PMA) company
status. With this time the composition of its shareholders has been changed to
become FURURE SIGHT INVESTMENT LTD (89.28%), Mr. Awaluddin Octo Rachnalim
(3.75%), Mr. David Eteng (3.75%), Mr. Drs. Khiong Tat Shiong (1.61%) and Mr.
Salim Chandra (1.61%). The deed of amendments was approved by the Ministry of
Law and Human Rights in its decision letter No. AHU-26924.AH.01.02.TH.2010
dated May 26, 2010.
P.T. UAB
operates under Foreign Investment (PMA) facilities in the animal feed industry
and breeding farm business. The company manages a plant located at Jalan Raya
Narogong Km. 14, Bekasi, West Java standing on 11,500 sq. meters land.
According to the licenses the company has a production capacity of 720,000 tons
of animal feeds (fish meal, and chicken feed meal) respectively per annum. The
company's production is entirely marketed in the country under the UAB brand
through animal feed distributors appointed in several big cities of the
country. The whole basic materials like corn obtained from Sumatera, Java,
Sulawesi and other cities in the country. P.T. UAB manufacturing and marketing
of livestock and poultry feeds, aqua feeds, protein concentrates and premixes;
manufacturing and marketing of micro encapsulated additives and other specialty
products, trading in agricultural commodities. We observe the operation of P.T.
UAB has been growing and developing well in the last three years.
In overall views
we find the demand for animal feed, fish meal, fish oil and feather meals had
been rising by 5% to 6% per year in the last five years, in line with the
growth of animal feed industry in the country. We observed that the national
poultry industry in 2008 is having a difficult time as production cost has been
increasing due to the high prices of the basic materials for animal feed
triggered by bad weather conditions and the world crude oil price hike. Besides
that the competition is very tight due to a large number of similar companies
operating in the country. It’s projected the demand for animal feed, fish meal,
fish oil and feather meals will be rising in the future at least 5% per annum.
The business position of P.T. UAB is appraised to be favorable for having
established wide marketing networks within and outside the country.
Until this time
P.T. UAB has not been registered with Indonesian Stock Exchange, so that they
had not obliged to announce their financial statement. The management of P.T.
UAB 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. 142.0 billion rose to Rp. 151.0 billion in 2011 increased to
Rp. 160.0 billion in 2012 and projected to go on rising by at least 5% in 2013.
It estimated the company has gained a net profit of Rp. 12.0 billion the
company has an estimated total net worth of at least Rp. 91.0 billion. We
observe that P.T. UAB is supported by foreign partner with has financially
strong and sound behind it. 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. is headed by Mr. Syafei (49) a professional manager with experience in
animal feed milling manufacturing and trading. In his daily activity, he is
assisted by Mr. I Wayan Mertayasa (67) as Director. The company's management is
handled by professional staff in the above business. They have wide relations
with private businessmen within and outside the country. So far, we did not
hear that the management of the company being filed to the district court for
detrimental cases or involved in any business malpractices. The company’s
litigation record is clean and it has not registered with the black list of
Bank of Indonesia. P.T. UNIVERSAL AGRI BISNISINDO is sufficiently fairly good
for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.36 |
|
|
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.98 |
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.