|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. KARYA INDAH BERSAMA |
|
|
|
|
Registered Office : |
Jalan Raya Serang Km. 18.8, Kawasan Industri Kencana Alam,
Desa Sukanagara, Kecamatan Cikupa, Tangerang, 15710, Banten Province |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
22.02.2008 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-37457 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Plastic Flexible Packaging Manufacturing |
|
|
|
|
No. of Employees : |
127 |
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 an estimated 6.2% and 6.5% 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 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. KARYA INDAH BERSAMA
Head Office &
Factory
Jalan Raya Serang Km. 18.8
Kawasan Industri Kencana Alam
Desa Sukanagara, Kecamatan Cikupa
Tangerang, 15710
Banten Province
Indonesia
Phones - (62-21) 5940 3012, 5940 5381
Fax - (62-21) 5940 5362
Land Area - 13,700 sq. meters
Building Space - 8,600 sq. meters
Region - Industrial Estate
Status - Owned
22 February 2008
P.T. (Perseroan Terbatas) or Limited
Liability Company
The Ministry of
Law and Human Rights
- No.
AHU-21364.AH.01.01.TH.2008
Dated
28 April 2008
- No.
AHU-AH.01.10-37457
Dated
19 October 2012
National Private Company
The Department of
Finance
NPWP No. 02.763.863.4-451.000
a. P.T.
AYAM MERAK (Coffee Powder and Investment Holding)
b. P.T.
ALLSTARS (Security Services)
c. P.T.
MILLENIUM SUMINDO NUSANTARA (Coal Mining)
d. P.T.
MULIAINTI SEJAHTERA PAKINDO (Plastic Flexible Packaging Manufacturing)
e. P.T.
MULIAPACK INTISEMPURNA (Plastic Flexible Packaging Manufacturing and Investment
Holding)
f. P.T.
WATERWAY INDONESIA (Trading)
Capital Structure :
Authorized Capital : Rp. 4,000,000,000.-
Issued Capital : Rp. 4,000,000,000.-
Paid up Capital : Rp. 4,000,000,000.-
Shareholders/Owners :
a. P.T. MULIAPACK INTISEMPURNA - Rp.
1,600,000,000.-
Address : Jl.
Pluit Raya No. 195
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta Barat,
Indonesia
b. Mr. Tandy Wanto -
Rp. 600,000,000.-
Address : Jl. Pluit Murni III/34, RT. 011,
RW. 004
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta Utara,
Indonesia
c. Mr. Berlen
Sulaiman, SE, MH, MT -
Rp. 400,000,000.-
Address : Jl. Pluit Timur Block
K. Sel/2, RT. 002 RW. 009
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta Utara,
Indonesia
d. Mr. Yanto Muliawan -
Rp. 400,000,000.-
Address : Jl. Pluit Timur Block
K. Sel/2, RT. 002 RW. 009
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta
Utara, Indonesia
e. Mr. Suhardi
Muliawan -
Rp. 400,000,000.-
Address : Jl. Pluit Timur Block
T. Utara No. 53, RT. 005
RW. 006,
Kelurahan Pluit, Kecamatan
Penjaringan,
Jakarta Utara
Indonesia
f. Mr. Handy Noerjanto -
Rp. 240,000,000.-
Address : Jl. Muara Karang
Block O.X.S/42, RT. 009,
RW. 013,
Kelurahan Pluit, Kecamatan
Penjaringan,
Jakarta Utara
Indonesia
g. Mr. Haryo Suparmun -
Rp. 240,000,000.-
Address : Jl. Muara Karang
Block B.X.U/3, RT. 001,
RW. 013,
Kelurahan Pluit, Kecamatan
Penjaringan,
Jakarta Utara
Indonesia
h. Mr. Lusman Rusli -
Rp. 120,000,000.-
Address : Taman Harapan Indah Block G IV
10-PP,
RT. 004, RW. 007, Kelurahan
Jelambar Baru,
Kecamatan Grogol Petamburan
Jakarta Barat
Indonesia
Lines of Business :
Plastic Flexible Packaging Manufacturing
Production Capacity :
Plastic Flexible Packaging -
1,500 tons p.a.
Total Investment :
a. Equity Capital - Rp. 4.0 billion
b. Loan Capital - Rp. 3.0 billion
c. Total Investment - Rp. 7.0 billion
Started Operation :
2009
Brand Name :
Karya Indah Bersama
Technical Assistance :
None
Number of Employee :
127 persons
Marketing Area :
Local - 70%
Export - 30%
Main Customers :
a. Detergent
Industries
b. Food and Beverages
Industries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALCAN PACKAGING FLEXIBLE
b. P.T. MODERNPACK JAYA LESTARI
c. P.T. SURYA MULTI INDOPACK
d. P.T. UNIFLEX KEMASINDAH
e. Etc
Business Trend :
Growing
Bankers :
a. P.T.
Bank CENTRAL ASIA Tbk
Jalan Pluit Raya No. 200
Jakarta Barat
Indonesia
b. P.T.
Bank NEGARA INDONESIA Tbk
Jalan Pluit Selatan No. 70
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 23.3 billion
2011 – Rp. 24.5 billion
2012 – Rp. 26.0 billion
Net Profit (estimated) :
2010 – Rp. 2.0 billion
2011 – Rp. 2.3 billion
2012 – Rp. 3.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board
of Management :
President
Director - Mr. Tandy Wanto
Directors - a.
Mr. Handy Noerjanto
b. Mr. Yanto Muliawan
Board
of Commissioners :
President
Commissioner - Mr.
Suhardi Muliawan
Commissioners - a. Mr. Haryo
Suparman
b. Mr. Berlen Sulaiman, SE, MH, MT
Signatories
:
President Director (Mr. Tandy Wanto) or
one of the Directors (Mr. Handy Noerjanto or Mr. Yanto Muliawan) which must be
approved by Board of Commissioner
Management
Capability :
Good
Business
Morality :
Good
P.T. KARYA INDAH BERSAMA (P.T. KIB) was established in Tangerang, Banten Province based on notary deed of Mr. Dedi Hartono, SH., No. 4 dated 22 February 2008 with the authorized capital of Rp. 4,000,000,000 issued capital of Rp. 1,000,000,000 entirely paid up. The company was founded by P.T. MULIAPACK INTISEMPURNA (40%), Mr. Erwin Tanujaya (31.5%), Mr. Tandy Wanto (15%) and Mr. Pandu Ardani (13.5%), they are Indonesian businessmen of Chinese extraction. The company notary deed had been changed and according to the latest revision of notary deed of Mrs. Anna Maria Ira Kelana, SH., No. 10 dated 26 September 2012, Mr. Erwin Tanujaya, and Mr. Pandu Ardani withdrew and into the company entered by Mr. Berlen Sulaiman, SE., Mr. Handy Noerjanto, Mr. Yanto Muliawan, Mr. Suhardi Muliawan, Mr. Haryo Suparmun and Mr. Lusman Rusli as new shareholders. On the same occasion the company issued capital was increased to Rp. 4,000,000,000 fully and paid up. With this development the composition of its shareholders has been changed to become P.T. MULIAPACK INTISEMPURNA (40%), Mr. Tandy Wanto (15%), Mr. Berlen Sulaiman, SE (10%), Mr. Yanto Muliawan (10%), Mr. Suhardi Muliawan (10%), Mr. Handy Noerjanto (6%), Mr. Haryo Suparmun (6%) and Mr. Lusman Rusli (3%). The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-37457 dated October 19, 2012.
We observe the majority shareholder P.T. MULIAPACK INTISEMPURNA is a private national company dealing with plastic flexible packaging industry which majority shares is controlled by Mr. Suhardi Muliawan and Mr. Handy Noerjanto.
P.T. KIB is a private national company dealing with plastic flexible packaging manufacturing. The plant is located at Jalan Raya Serang Km. 18.8, Kawasan Industri Kencana Alam, Tangerang, Banten Province standing on 13,7000 sq. meters land. The plant has been operating since 2009 by produces of plastic flexible packaging of 1,500 tons per annum. Mr. Tandy Wanto, President Director of P.T. KIB explained to our inquiry that the basic materials used like OPP Film, PET Film, Nylon Film, PP, PE, CPP are mostly local products, only a small amount imported. The company produced various packaging requirements for food, beverages, cosmetic, drugs, chemical and so forth. Further he also added the whole products supplied to various food and beverages industries such as P.T. AYAM MERAK, P.T. KAPAL API INDONESIA, P.T. FORISA NUSAPERSADA (Pop Ice), P.T. GARUDAFOOD PUTRA PUTRIJAYA (Garudafood Group), P.T. KINO CANDY (Kino) and others. Besides the products is also supplied to detergent industries such as P.T. KAO INDONESIA (Daia) and others. We observe that P.T. KIB belongs to a medium-sized company of its kind in the country and the operation had been growing within the last three years.
We note that the demand for flexible packaging has been volatile in the last five years in line with the development of industries requiring such packaging like industries producing instant noodles, peppermint, candy, chocolate, snacks, powdered coffee as well as pharmaceuticals, cosmetics and other consumer products. Competition is very tight on account of many such type of companies in operation in the country. P.T. KIB is considered to be still in a quite good business position for having already got hold of a clientele and having established a wide marketing network among foods and drinks processing industries in Jakarta, Karawang, Tangerang, Banten Province and other big cities.
Until this time P.T. KIB has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. KIB 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. 23.3 billion rose to Rp. 24.5 billion in 2011 increased to Rp. 26.0 billion in 2012 and projected to go on rising by at least 5% in 2013. The operation in 2012 yielded an estimated net profit of at least Rp. 3.5 billion and the company has an estimated total net worth of at least Rp. 5.0 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. KIB is led by Mr. Tandy Wanto (51) a businessman and professional manager with experience in plastic flexible packaging manufacturing. Prior he is a Marketing Manager of parent company P.T. MULIAPACK INTISEMPURNA in plastic flexible packaging manufacturing. Daily activity he is assisted by Mr. Handy Noerjanto (50) and Mr. Yanto Muliawan (42) both of are professional manager and businessman with experience in the above business. 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. KARYA INDAH BERSAMA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
UK Pound |
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.