|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. HOME CENTER
INDONESIA |
|
|
|
|
Registered Office : |
Gedung Kawan Lama, 6th Floor, Jalan Puri Kencana No. 1,
Meruya-Kembangan, Jakarta Barat 11610 |
|
|
|
|
Country : |
Indonesia |
|
|
|
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Date of Incorporation : |
18.07.2003 |
|
|
|
|
Com. Reg. No.: |
No. AHU-01185.AH.01.02.TH.2012 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
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Line of Business : |
Retail of Furnishing Products |
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|
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No. of Employees : |
395 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 |
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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 |
|
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 |
Name of Company :
P.T. HOME CENTER INDONESIA
Address :
Head Office
Gedung Kawan Lama, 6th Floor
Jalan Puri Kencana No. 1
Meruya-Kembangan
Jakarta Barat 11610
Indonesia
Phones -
(62-21) 582-0808 (10 lines), 582-9003
Fax - (62-21) 582-1818
E-mail - informa.care@homecenter.co.id
Website - http://www.informa.co.id
Building Area - 6 storey
Office Space - 500 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
18 July 2003
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
- No. C-22469
HT.01.01.TH.2003
Dated 19 September 2003
- No. W7-HT.01.10-13496
Dated 02 November 2007
- No.
AHU-57923.AH.01.02.TH.2008
Dated 02 September 2008
- No.
AHU-01185.AH.01.02.TH.2012
Dated 9 January 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 02.341.555.7-035.000
The Department of
Industry and Trade
TDP No. 09.02.1.51.26396
Dated 24 October 2003
The Indonesian
Chamber of Commerce and Industry
KADIN Member : 20202.85411-6
Dated 19 January 2007
Related Company :
A Member Company of the KAWAN LAMA Group (see attachment)
Capital Structure :
Authorized Capital : Rp.
150,000,000,000.-
Issued Capital : Rp. 48,000,000,000.-
Paid up Capital : Rp. 48,000,000,000.-
Shareholders/Owners :
a. P.T. KAWAN LAMA SEJAHTERA -
Rp. 47,999,000,000.-
Address : Jl. Puri Kencana 1
Meruya - Kembangan
Jakarta Barat
Indonesia
b. Mr. Kuncoro Wibowo -
Rp. 1,000,000.-
Address :
Jl. Kembang Harum UtamaC.2/9
Jakarta Barat
Indonesia
Lines of Business :
Retail of Furnishing Products
Production Capacity :
a. Informa Furnishing
Retails - 43 outlets
b. Ashley - 3 outlets
Total Investment :
a. Owned Capital - Rp.
48.0 billion
b. Loan Capital - Rp. 25.0
billion
c. Total Investment - Rp.
73.0 billion
Started Operation :
2003
Brand Name :
INFORMA FURNISHINGS
Technical Assistance :
None
Number of Employee :
395 persons
Marketing Area :
Domestic (Local) - 100%
Main Customers :
a. ASTRA Group Members
b. KRAMAYUDHA TIGA BERLIAN Group Members
c. CITIBANK N.A.
d. Industrial Manufacturing and individuals
e. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. AGIS Tbk
b. P.T. MAKRO INDONESIA
c. P.T. CATUR SENTOSA
ADIPRANA Tbk
d. P.T. CARREFOUR INDONESIA
e. P.T. HERO SUPERMAKET Tbk
f. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank PERMATA Tbk
Jalan Hayam Wuruk No.
84-85
Jakarta
Barat
Indonesia
b. P.T. Bank INTERNATIONAL INDONESIA Tbk
Plaza BII
Jalan
M.H. Thamrin No. 55
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 255.0 billion
2011 – Rp. 264.0 billion
2012 – Rp. 275.0 billion
Net Profit (estimated) :
2010 – Rp. 20.4 billion
2011 – Rp. 21.5 billion
2012 – Rp. 22.0 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director -
Mr. Prabowo Widya Krisnadi
Director - Mr. Ir. Hartanto Djasman
Board of Commissioner :
President Commissioner - Mr. Kuncoro Wibowo
Commissioner - Mr. Ijek Widya Krisnadi
Signatories :
President
Director (Mr. Prabowo Widya Krisnadi) or the Director (Mr. Ir. Hartanto
Djasman) which must be approved by Board of Commissioners
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. HOME CENTER INDONESIA (P.T. HCI) was established Jakarta on July
18, 2003 with an authorized capital of Rp. 1,000,000,000 issued capital of Rp.
500,000,000 wholly paid-up. Founders and shareholders are P.T. KAWAN LAMA
SEJAHTERA and Mr. Kuncoro Wibowo, a Chinese origin Indonesian businessman. The
company notary deed has been changed and in August 2007, the authorized capital
was increased to Rp. 8,000,000,000 entirely issued and paid up. The deed of
amendment was made by Mrs. Eliwaty Tjitra, SH., a public notary in Jakarta, was
approved by the Ministry of Law and Human Right in its Decision Letter No.
W7-HT.01.10-13496, dated November 02, 2007. Then in July 2008 the authorized
capital was increased to Rp. 150,000,000,000 issued capital to Rp.
48,000,000,000 entirely paid up. The revision of notary act was made by Mrs.
Indriyani Damayanti Siregar, SH., was approved by the Ministry of Law and Human
Right in its Decision Letter No. AHU-57923.AH.01.02.TH.2008, dated September
02, 2008. Then according to the latest revision of notary documents of Mrs.
Eliwaty Tjitra, SH., No. 78 dated 9 December 2011 the company board of director
and the board of commissioner reappointed to lead and runs of the company’s
operation. The deed of amendments was approved by the Ministry of Law and Human
Rights in its decision letter No. AHU-01185.AH.01.02.TH.2012 dated January 9,
2012.
We observe that the majority shareholders namely P.T. KAWAN LAMA SEJAHTERA
is a national private company dealing with trading and distribution of
technical goods and investment holding which majority business stakes is
controlled by Mr. Kuncoro Wibowo and family members. P.T. HCI is a member
company of the KAWAN LAMA Group, a national private business group established
by Wang family, a Chinese origin Indonesian business family. They have
established P.D. (Perusahaan Dagang) KAWAN LAMA dealing with technical goods
trading including hardware and tools. As from 1981, the KAWAN LAMA Group was
continued by the second generation, namely Mr. Kuncoro Wibowo and his family
members among them are Mr. Ijek Widya Krisnadi and Mr. Prabowo Widyakrisnadi.
P.T. HCI also knows with trading style INFORMA FURNISHING (ex INDEX
FURNISHING) is engaged in retailer of furniture. The company manages INDEX
FURNISHING retailer with one shopping for all furnishing needs concept and
provides an array of high quality furnishings collection from home, office,
accessories, to commercial spaces. INFORMA FURNISHING started with operation in
2003 by operating of 43 outlets INFORMA FURNISHINGS throughout various
Indonesian major cities. The products including living rooms, cool picks,
dining & kitchen, bedroom, office equipment, designer collection, home accessories,
kids planet, commercial table and chairs, kept concept/racking system, mattress
& linen. There are more than 60,000 types of quality merchandises in their
comfortable and pleasant stores, offering top selections of furnishings. P.T.
HCI is a franchise holder of INDEX FURNISHING of Thailand.
Informa Furnishings is the biggest and the most complete furnishings
retail in Indonesia by provide more than 60.000 quality merchandises in
comfortable and pleasant stores, offering top selections of furnishings
products. Committed to this concept, Informa Furnishing is continually adding
greater variety of furnishings to their collections especially in Biggest
Informa store located at Living World Alam Sutera Serpong, with 25.000 sq.
meters area.
Informa furnishings departments include Living, Designer Collections,
Dining, Kitchen, Commercial Tables and Chairs, Office, Kept Concept, Bedroom,
Kids, Mattress, Beauty Commercial, American Home Furniture, Lighting,
furthermore, our selection is completed with an array of Home Accessories
consists of Home Décor, Home Textile, Household. In addition to fulfill
customers needs and tastes of branded and special collections, Informa
Furnishing imported selected products from well-known furniture countries such
as from USA, Belgium, Denmark, France, Germany, Italy, Asia and the rest from
local made.
Informa Furnishing provides the widest range for all furnishings needs.
From Living to Dining, Office to Home Accessories, Bedroom to Commercial spaces,
retails to projects. Informa Furnishing is “one stop shopping" for all
furnishings needs. INFORMA Furnishings is the biggest center of retail
furnishings in Indonesia, with a concept to fulfill your housing lifestyle.
Informa Furnishings makes your dream furniture within reach anytime. Experience
a wide array of top selected items from all over the world in our comfortable
stores, all for your shopping convenience. Up until now, Informa has opened 43
stores, in order to fulfill the housing life style of its customers. The stores
have been widely spread throughout the provinces in Indonesia.
P.T. HCI adds special furniture store network ASHLEY brand from the
United States, in order to accelerate
expansion in Jalan Kemang, South Jakarta, and two more units located in the
Living World Alam Sutera, Serpong, Banten Province and Mall Artha Gading, North
Jakarta. Merchandiser Director, Mrs. Meutia Kumala explained that the company
deliberately separates Informa outlets and ASHLEY because they have different
characters. Informa design is more modern and minimalist, while ASHLEY classic
American style.
The whole products is also supplied to ASTRA Group, KRAMAYUDHA TIGA
BERLIAN Group, CITIBANK N.A., P.T. P.T. TOYOTA MOTOR MANUFACTURING INDONESIA,
P.T. Bank CIMB NIAGA Tbk, P.T. Bank OCBC NISP, PALADIN Group, P.T. HUTCHISON CP
TELECOMMUNICATIONS, P.T. TRAVIRA AIR, oil and gas industry, industrial
manufacturing others individuals. To support of INFORMA FURNISHINGS operations,
the company is supported by a comprehensive advance logistics system that is
prime to determine a faster deliver. INFORMA FURNISHINGS is equipped with a
warehouse that is capable of storing a massive inventory and a warehouse
located at Cikupa, Banten Province. We observe that the operation of P.T. HCI
or INFORMA FURNISHINGS has been growing in the last five years.
The demand for furnishings has kept on rising by 8% to 10% per annum in
the last five years. Such condition was 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 7% to 8% per annum. The present
market situation for furniture products is very competitive for a large number
of similar companies operating in the country. It is projected that the demand
growth will be rising within the next five years. Market competition is very
tough on account of many other similar companies operating in Indonesia. P.T.
HCI’s business position in this case is not too badly because it has established
regular customers and extensive marketing network.
Until this time P.T. HCI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. HCI 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. 255.0 billion rose to Rp. 264.0 billion in 2011
increased to Rp. 275.0 billion in 2012 and projected to go on rising by at
least 5% in 2013. It is projected the company operation in 2012 yielded a net
profit of at least Rp. 22.0 billion.
The company has an estimated total networth of at least Rp. 152.0
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. HCI is led by Mr. Prabowo Widya Krisnadi (51) a
businessman with 27 years of experience in the trading and distribution of
quality of furnishings. Born in Jakarta, Indonesia, in 1962, Prabowo
Widyakrisnadi, an Indonesian citizen, has held the position of President Di-
rector of PT Ace Hardware Indonesia Tbk. since 1996. He is fully involved in
all management aspects. Starting his career with Kawan Lama Group as Assistant
Manager at PT Kawan Lama Sejahtera in 1987, he is now President Commissioner
for the Company, in addition to holding several important
Daily operation, he is assisted by Mr. Ir. Hartanto Djasmin (56) as Director.
Born in Salatiga, Central Java in 1957, Hartanto Djasman, an Indonesian
citizen, has served as Finance Director of PT Ace Hardware Indonesia, Tbk.
since 2005. He began his professional career as Project Manager for PT Dumas
Ship- yard in 1981, before joining Kawan Lama Group as Finance Manager of PT
Kawan Lama Sejahtera in 1988. He is presently holding several positions. 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. HOME CENTER INDONESIA is
sufficiently fairly good for business transaction.
The KAWAN LAMA
Group Members
ACE HARDWARE INDONESIA Tbk, P.T. (Trading and distribution of hardware
and tools)
DECOUROUS MITRA SELARAS, P.T. (Trading and distribution of tools and
technical Goods)
EVERLIGHT INDONESIA, P.T. (Trading and Assembling of Lighting Products)
FASTTOOLINDO KRISNALESTARI, P.T.
(Trading and distribution of tools and technical goods)
FOOD BEVERAGES INDONESIA, P.T. (Trading and Distribution of Foods)
GOLDEN DACRON, P.T. (Mattress and Pillow Manufacturing)
HOME CENTER INDONESIA, P.T. (Trading and distribution of furniture
products)
INDO KOMPRESIGMA SISTEM, P.T. (Trading and distribution of air compressor)
KALDEN MULTI REKATAMA, P.T. (Trading and distribution of technical
goods)
KAWAN LAMA INTERNUSA, P.T. (Investment holding)
KAWAN LAMA MULTI AKURASI, P.T. (Trading and distribution of measurement
products)
KAWAN LAMA MULTI SISTEMINDO, P.T. (Trading and distribution of storage
system)
KAWAN LAMA SEJAHTERA, P.T. (Trading and distribution of technical goods)
MULTIPERKAKAS KRISNALESTARI, P.T. (Trading and distribution of tools)
MULTI RENTALINDO, P.T. (Trading of Diesel Engine)
MULTISESINDO SELARAS, P.T. (Trading and distribution of technical goods)
MULTISTORAGE SISTEMINDO, P.T. (Trading and distribution of storage
systems)
OFFICE SOLUTIONS, P.T. (Trading and Distribution of Office Equipment)
RETAIL ESTATE SOLUTION, P.T. (Office Building Development and
Management)
SENSOR INDONESIA, P.T. (Trading and Distribution of CCTV)
TIGA DUA DELAPAN, P.T. (Property Development and Management)
TOYS GAME INDONESIA, P.T. (Trading and Retail of Toys)
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
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 |
|
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.