|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. BETON PERKASA WIJAKSANA |
|
|
|
|
Registered Office : |
Jalan Penjernihan No. 40 Jakarta 10210 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
31.03.1983 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-35889 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Formwork System and Materials Manufacturing |
|
|
|
|
No. of Employees : |
510 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.
BETON PERKASA WIJAKSANA
Head
Office
Jalan Penjernihan
No. 40
Jakarta 10210
Indonesia
Phones -
(62-21) 571 2644 (hunting)
Fax. - (62-21) 571 2633
P.O. Box - 3737 Jakarta 10210
Email - bpw@betonperkasa.com
Website - http://www.betonperksa.com
Building Area - 2 storey
Office Space -
240 sq. meters
Region -
Commercial
Status -
Owned
Branch
Office
Kawasan Industri
Tugu Wijayakusuma
Jl. Tugu Industri IV No.1-B
Cental Java 50100
Indonesia
Phone -
(62-24) 866 5624
Fax. - (62-24) 866 5626
Building Area - 1,200 sq. meters
Office Space - 120 sq. meters
Region -
Industrial Estate
Status - Rent
Factory
Jalan Raya Serang Km. 16,7
Cikupa, Tangerang 15710
Banten Province
Indonesia
Phones -
(62-21) 596 0765
Fax. - (62-21) 596 0767
P.O. Box - 3737 Jakarta 10210
Land Area - 120,000 sq. meters
Building - 8,000 sq. meters
Region -
Industrial Zone
Status -
Rent
Date of
Incorporation :
31 March 1983
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No.
C2-7562.HT.01.01.Th.83
Dated 24 November 1983
b. No.
AHU-92803.AH.01.02.Tahun 2008
Dated 02 December 2008
c. No.
AHU-AH.01.10-35889
Dated 08 November 2011
Company Status :
Foreign Investment Company (PMA)
Permit by the
Government Department :
The Department of Finance
NPWP No. 01.375.041.9-055.000
a. P.T. POLA INTIPERKASA (Investment Holding)
b. PERI GmbH., of Germany (Investment Holding)
Capital Structure
:
Authorized Capital - Rp. 40,000,000,000.-
Issued Capital - Rp. 40,000,000,000.-
Paid up Capital - Rp. 40,000,000,000.-
Shareholders/Owners
a. P.T. POLA INTIPERKASA - Rp. 22,000,000,000.- (55%)
Address : Jl. Penjernihan I No. 40
Jakarta Pusat
Indonesia
b. PERI GmbH., of Germany -
Rp. 10,000,000,000.- (25%)
Address : Rudolf Diesel Strasse
D-89264
Weissenhom
Germany
c. Mr. Ir. Halim Santosa - Rp. 5,600,000,000.- (14%)
Address : Jl. Surya Wijaya VI
Blok 4-D
No. 9, Kedoya, Jakarta
Pusat
Indonesia
d. Mr. Ir. Zainir Umar - Rp. 1,600,000,000.- ( 4%)
Address : Jl. Penjernihan I No. 40
Jakarta Pusat
Indonesia
e. Mr. Sueb - Rp. 400,000,000.- ( 1%)
Address : Belakang Klinik Gang
Roos II/21
Tebet, Jakarta Selatan
Indonesia
f. Mrs. Bernadette Indrayani - Rp. 400,000,000.- ( 1%)
Address : Jl. Taman Duren Sawit
Blok B7 No. 7
Jakarta Timur
Indonesia
Lines of Business
:
Formwork System
and Materials Manufacturing
Production
Capacity :
Formwork System
and Scaffolding - 9,000 tons p.a.
Total Investment :
a. Equity Capital - Rp. 40.0 billion
b. Loan Capital - Rp. 80.0 billion
c. Total Investment - Rp. 120.0 billion
Started Operation
:
1 9 8 4
Brand Name :
BETON and PERI
Technical
Assistance :
PERI GmbH., of Germany
Number of Employee
:
510 persons
Marketing Area :
Domestic (Local) - 100%
Main Customers :
a. PT. Perusahaan Listrik Negara (PLN)
b. PT. Sari Warna Textile
c. LPG Terminal Office in Semarang.
d. IAIN Laboratorium Building in Semarang.
e. Hasanuddin University in Makassar
f. Richtex Garment Building
g. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Surya Baja Machinery
b. PT. Betonconcrete
Mixerindo
c. PT. Beton Elemindo Perkasa
d. PT. Beton Megah Perkasa
e. CV. Suratman Bersaudara
Business Trend :
Growing
B a n k e r s :
a. Deutsche Bank
Deutsche Bank
Building
Jl. Imam Bonjon No. 80
Jakarta Pusat
b. The Hongkong and Shanghai Banking
Corp.
Gedung World Trade Center
Jl. Jend. Sudirman 29-31
Jakarta Selatan
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2009 – Rp. 178.0 billion
2010 – Rp. 203.0 billion
2011 – Rp. 228.0 billion
2012 – Rp. 260.0 billion
Net Profit (Loss)
:
2009 – Rp. 9.8 billion
2010 – Rp. 11.2 billion
2011 – Rp. 12.7 billion
2012 – Rp. 14.5 billion
Payment Manner :
Almost promptly
Financial Comments
:
Satisfactory
Board of
Management :
President Director - Mr. Ir. Halim Santosa
Director -
Mr. Achmad Indra Sahab
Board of
Commissioner :
President Commissioner
- Mr. Ir. Zainir Umar
Commissioners -
a. Mr. Sueb
b. Mr. Dikdik Hikmat Permadita
Signatories
:
President Director (Mr. Ir. Halim Santosa) or Director (Mrs.
Achmad Indra Sahab) which must be approved by board of commissioner (Mr. Ir.
Zainir Umar)
Management
Capability :
G o o d
Business Morality
:
G o o d
Credit Risk :
Below Average
Credit
Recommendation :
Credit can be proceeded normally
Proposed Credit
Limit :
Moderate amount
Initially
named P.T. BETON PERKASA, the company was established in March 1983 with the
authorized capital of Rp. 100,000,000,-
of which Rp. 20,000,000.- was issued and fully paid up. The founding
shareholders of the company are Mr. Ir. Zainir Umar (60%), Mr. Patrick Iskak
(15%), Mr. Ir. Halim Santosa (10%), Mr. Hendro susianto (5%), Mr. Ir. Bambang
Ismutanto (5%) and Mr. Sueb (5%). On
July 1982, the company renamed to P.T. BETON PERKASA WIJAKSANA (P.T. BPW). The deed of establishment has been approved
by the Minister of Justice of the Republic of Indonesia through Decision Letter
No. C2-7562 HT.01.01.TH.83 dated 24 November 1983.
The
Company’s article of association has been amended for several times, most
recently by notarial Deed No.17 dated 26 September 2011 of Andalia Farida, SH.,
a notary in Jakarta, the authorized capital was raised to Rp. 40,000,000,000.-
entirely was issued and fully paid up.
Since that time, the shareholders of the company are PT. Pola
Intiperkasa (55%), PERI GmbH., of Germany (25%), Mr. Ir. Halim Santosa (14%),
Mr. Ir. Zainir Umar (4%), Mr. Sueb (1%) and Mrs. Bernadette Indrayani
(1%). The amendment to articles of
association has been approved by the Minister of Law and Human Rights through
Decision Letter No. AHU-AH.01.10-35889 dated 08 November 2011. No changes have
been effected in term of its shareholding composition and capital structures to
date.
P.T.
BPW has been in commercial operation since 1983 dealing with concrete formwork
systems and materials manufacturing by managing a plant located at Jalan Raya
Serang Km. 16,7, Cikupa, Tangerang, Banten province on a land of 120, 000 sq. meters. Production halls totaling 8,000 sq. meters to
manufacture all the formwork systems and materials for nationwide and export
distribution. Annually, the factory
process 9,000 tons of steel components for local distribution and export per
year. The plant produces various kinds
of formwork products such as Formwork Girders, Wall Formwork, Column Formwork,
Slab Formwork, Climbing Systems, Shoring, Scaffolding, Working Platform and
Stairs. Other products are RORO
Falsework Systems, HORY Beam Systems, POLA Scaffolding Systems and CIFA Tunnel
Metal Formwork. A staff of the company said that the products of the company
are marketed to various construction industries including Engineering Service,
On-site Supervision Product Customization, Sales and Rental, manufacturing
Service and Subcontracting Service. P.T. BPW gets technological assistance from
PERI GmbH., of Germany. The Company’s
customers are PT. Perusahaan Listrik Negara (PLN), PT. Sari Warna Textile, PT.
Pertamina, IAIN University in Semarang, Hasanuddin University in Makassar, PT.
Richtex Garment Industry and others. We
observed that P.T. BPW is classified as a large sized company of its kind in
the country of which the operation has been growing in the last three years.
In
overall we find the demand for concrete formwork systems and materials had been
rising by the average 6% to 8% per year within the last five years in line with
the growth of property and infrastructure sectors such as real estate
development, office buildings, hotels,
apartments, toll roads, ply-over, bridges, etc.
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 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 7% per year.
Market competition is very tight due to a large number of similar companies
operating in the country. Business position of P.T. BPW is favorable for it has
controlled a wide marketing network at home and its brand has been widely known
among consumers in the country.
The
company is neither public listed nor bond issued company. Therefore, the company has no obligation to
publish financial statements publicly.
The management strongly rejected to disclose its financial condition,
but we estimated that total sales turnover of P.T. BPW in 2010 amounted to Rp.
203.0 billion increased to Rp. 228.0 billion in 2011 rose again to Rp. 260.0
billion in 2012 and projected to be rising by at least 8% in 2013. The
operation of the company in 2012 is estimated to have gained a net profit of
Rp. 14.5 billion with total assets of Rp. 120.0 billion. So far we did not hear that P.T. BPW has
been black listed by Bank Indonesia (Central Bank) or having detrimental cases
being settled in local district court. Payment condition for domestic and
overseas suppliers is good with the credit payment system of 1 month to 3
months.
The
management of P.T. BPW is led by Mr. Ir. Halim Santosa (59) as president
director, a businessman with more than 28 years experience in manufacturing of
concrete formwork systems and materials for construction industries. In his daily activities, he is assisted by
Mr. Achmad Indra Saham (47) as director and a number of professional staffs. The reputation of the company’s management in
above business is good and they have wide relation with private businessmen of
home and overseas as well as with government sector. So far, we did not hear that the company’s
management has involved in business malpractice or having detrimental cases
being settled at court.
We
believe that P.T. BETON PERKASA WIJAKSANA is appraised to be good for normal
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
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.