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Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. MITRA BERSAUDARA |
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Registered Office : |
Jl. Dewi Sartika No. 239-A Cawang, Jakarta Timur 13630 |
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Country : |
Indonesia |
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Date of Incorporation : |
23.03.2004 |
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Com. Reg. No.: |
No. AHU-AH.01.10-30698 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Importer and Distribution of Herbal Products |
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No. of Employees : |
15 persons |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
Name of company :
P.T. MITRA
BERSAUDARA
Address :
Head Office
Jl. Dewi Sartika No. 239-A
Cawang, Jakarta Timur 13630
Indonesia
Phones - (62-21) 801 3333, 800 7112
Fax. - (62-21)
801 3434, 800 7213
Email - contact@mitrabersaudara.com
Building Area - 6 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
23 March 2004
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
a. No. C-22370.HT.01.01.TH.2004
Dated 06
September 2004
b. No.
AHU-40048.AH.01.02.Tahun 2009
Dated 19 August
2009
c. No. AHU-AH.01.10-30698
Dated 16
August 2012
Company Status :
National Private Company
Permit by the Government
Department :
The Department of Finance
NPWP No. 02.378.821.9-005.000
Related/Affiliated
Companies :
a. P.T. ALHIJAZ INDOWISATA (Tour and Travel Agency)
b. P.T. RIZKY HAROMAIN PUTRA (Tour and travel Agency)
Capital Structure
:
Authorized Capital - Rp.
1,000,000,000.-
Issued Capital - Rp.
1,000,000,000.-
Paid up Capital - Rp.
1,000,000,000.-
Shareholders/Owners
a. Mr. Abdullah
Bin Djafar - Rp. 750,000,000.- (75%)
Address : Jl. Cipinang Cempedak I No.28
Jakarta Timur
Indonesia
b. Mr. Achmad Bin
Abdullah - Rp. 250,000,000.- (25%)
Address
: Jl. Mesjid Bendungan, RT.002/RW.007
Jakarta Timur
Indonesia
Lines of Business
:
Trading, Importer and Distribution of Herbal Products
Production
Capacity :
None
Total Investment :
None
Started Operation
:
2004
Brand Name :
Mitra Bersaudara
Technical
Assistance :
None
Number of Employee
:
15 persons
Marketing Area :
Domestic (Local) - 100%
Main Customers :
a. Toko Fathiyyah Herbal
b. Rumah Herbal Salma
c. Toko Herbal Fian
d. Toko Berkah Herbal, etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Ishma Mediterranean
b. PT. Musafir Jaya Sakti
c. PT. Herbal Insani
d. PT. Sari Herbal
e. CV. Multi Ovivindo
f. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CIMB NIA Tbk
Dewi Sartika Branch
Jl. Dewi
Sartika No. 292-C
Jakarta Timur
Indonesia
b. P.T. Bank MANDIRI Tbk
Jatinegara
Branch
Jl.
Jatinegara Timur 58
Jakarta
Timur
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2009 – Rp. 24.6 billion
2010 – Rp. 28.0 billion
2011 – Rp. 31.8 billion
2012 – Rp. 36.0 billion
Net Profit (Loss)
:
2009 – Rp. 1.6 billion
2010 – Rp. 1.8 billion
2011 – Rp. 2.1 billion
2012 – Rp. 2.4 billion
Payment Manner :
Almost promptly
Financial Comments
:
Satisfactory
Board of Management :
President Director - Mr. Abdullah Bin Djafar
Director - Mrs. Anisah
Purchasing Manager - Mrs. Ulil Makrifah
Board of Commissioner :
Commissioner -
Mrs. Farida
Signatories :
President Director (Mr. Abdullah Bin
Djafar) or Director (Mrs. Anisah) which must be approved by board of
commissioner (Mrs. Farida)
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
P.T. MITRA BERSAUDARA (P.T. MB) was established in March 2004 with the
authorized capital of Rp. 1,000,000,000,-
entirely was issued and fully paid up. The founding shareholders of the company
are Mr. Abdullah Bin Djafar (50%), his son Mr. Achmad Bin Abdullah (25%), they
are Indonesian businessmen of Arabian extraction and Mrs. Farida (25%), an indigenous
businesswoman. The deed of establishment
has been approved by the Minister of Law and Human Rights through Decision
Letter No. C-22370.HT.01.01.TH.2004 dated 6 September 2004. The Company’s
article of association has been amended for several times. In May 2009, Mrs. Farida pulled out and the
whole shares are sold to Mr. Abdullah Bin Djafar. The amendment to articles of association has
been approved by the Minister of Law and Human Rights through Decision Letter
No. AHU-40048.AH.01.02.Tahun 2009 dated 19 August 2009.
Most recently by notarial Deed No.09 dated 06 June 2012 of Fauzah Askar,
SH., a notary in Jakarta, the company board of director and the board of
commissioner had been changed. The amendment to articles of
association has been approved by the Minister of Law and Human Rights through
Decision Letter No. AHU-AH.01.10-30698 dated 16 August 2012. No changes have
been effected in term of its shareholding composition and capital structures to
date.
P.T. MB is a private company dealing with trading, importer and
distribution of herbal products. The company’s head address located at Jl. Dewi
Sartika No. 239-A, Cawang, East Jakarta.
Ms. Ulil Makrifah, a purchasing staff of the company explained that P.T.
MB sells various herbal products especially Extra Virgin Olive Oil, Pomace
Olive Oil, Date Palm Juice (Sari Kurma Tala), etc. The products are imported from Turkey, Spain,
Dubai and others. Then, the whole product are sold and supplied to local
retailers and shops like; Toko Fathiyyah Herbal, Rumah Herbal Salma, Toko
Herbal Fian, Toko Berkah Herbal, etc., in Jakarta and its surrounding. We observed that P.T. MB is classified as a
medium sized company of its kind in the country of which the operation has been
growing in the last three years.
Generally, the demand for extra virgin olive oil, pomace olive oil, date
palm juice and other herbal products in the country had significantly rising by
6% to 8% per year in the last five years, in line with the growth of Indonesian
population and increase purchasing power, especial in big cities in
Indonesia. 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 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. MB is favorable for it has controlled a wide marketing network at home and
their product 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. MB in 2010 amounted to Rp.
28.0 billion increased to Rp. 31.8 billion in 2011 rose again to Rp. 36.0
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. 2.4 billion with total assets of Rp. 4.5 billion. So far we did not hear that P.T. MB 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. MB is led by Mr. Abdullah Bin Djafar (50) as
president director, a businessman with more than 15 years experience in
trading, import and distribution of herbal products especially extra virgin
olive oil. In his daily activities, he
is assisted by Mrs. Anisah (28) as director and Mrs. Ulil Makrifah (38) as
purchasing manager. 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. MITRA BERSAUDARA is appraised to be good for normal
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
|
1 |
Rs.86.81 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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 |
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NB |
New Business |
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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.