|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. TATARASA PRIMATAMA |
|
|
|
|
Registered Office : |
Sentra Niaga
Puri Indah Block T2/23 Puri
Kembangan Jakarta Barat, 11610 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
05.10.2000 |
|
|
|
|
Com. Reg. No.: |
No. AHU-66639.AH.01.02.TH.2008 |
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|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading, Importer, Supplying and Distribution of Pharmaceutical Basic Material, Food Ingredients and Cosmetic Raw Materials |
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|
|
|
No. of Employees : |
17 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.
TATARASA PRIMATAMA
Head Office
Sentra Niaga Puri Indah Block T2/23
Puri Kembangan
Jakarta Barat, 11610
Indonesia
Phones -
(62-21) 581 9123, 581 1177
Fax - (62-21) 580 5558, 581 9258
E-mail - chandrayani@tatarasa.com
Building Area - 2 storey
Office Space - 500 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
5 October 2000
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No. C-4262 HT.01.01.TH.2001
Dated 9 April 2001
- No. C-UM.02.01.17423
Dated 1 December 2005
- No. AHU-66639.AH.01.02.TH.2008
Dated 22 September 2008
Company Status
:
Private National
Company
Permit by the Government Department :
The Department of Finance
NPWP No.
1.998.077.0-035
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
300,000,000.-
Issued Capital : Rp.
300,000,000.-
Paid up Capital : Rp.
300,000,000.-
Shareholders/Owners
:
a. Mr. Soekiandi Alia AKA Tan Soon Hock - Rp. 270,000,000.-
Address : Jl. Mangga Dua Raya No. 39
Pinangsia, Taman Sari,
Jakarta Barat
Indonesia
b. Mrs. Chandrayani Hardiyati -
Rp. 30,000,000.-
Address : Jl. P. Gebang Permai A5/9
Pulo Gebang, Cakung,
Jakarta Timur
Indonesia
Lines of Business
:
Trading,
Importer, Supplying and Distribution of Pharmaceutical Basic Material, Food
Ingredients and Cosmetic Raw Materials
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2001
Brand Name :
Tatarasa
Primatama
Technical
Assistance :
None
Number of
Employee :
17 persons
Marketing Area
:
Domestic
(Local) - 100%
Main Customer
:
a. P.T. PYRIDAM
FARMA Tbk
b. P.T. SANBE FARMA
c. P.T. BINTANG TOEJOE
d. P.T. NESTLE INDONESIA, Etc
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. BINTANG INTI TALENTA
b. P.T. LAWSIM ZECHA
c. C.V. SUMBER MITRA NIAGA
d. P.T. WAHANA CHEMICAL INDONESIA
e. P.T. WARIS
f. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
INTERNATIONAL INDONESIA Tbk
Jalan Pintu Barat No. 69
Jakarta Barat
Indonesia
b. P.T. Bank
CENTRAL ASIA Tbk
Jalan Jend. Sudirman Kav. 22-23
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record
in our database
Annual Sales
(estimated) :
2010 – Rp. 9.5 billion
2011 – Rp. 10.6
billion
2012 – Rp. 11.5
billion
Net Profit
(Loss) :
2010 – Rp. 570
million
2011 – Rp. 640
million
2012 – Rp. 690
million
Payment Manner
:
Average
Financial Comments :
Satisfactory
Board of
Management :
Director - Mr. Soekiandi Ali AKA
Kian Hen Lie
Board of
Commissioner :
Commissioner -
Mrs. Chandrayani Hardiyati
Signatories :
Director (Mr. Soekiandi Ali AKA Kian Hen
Lie) 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. TATARASA
PRIMATAMA (P.T. TP) was established in Jakarta on 5 October 2000 with the
authorized capital of Rp. 300,000,000 of which Rp. 75,000,000 was issued and
fully paid up. The founding shareholders are Mr. Soekiandi Ali AKA Kian Hen Lie
and his wife Mrs. Chandrayani Hardiyati, a business family of Chinese origin.
The company notary deed has been changed. In November 2005, the issued capital
was raised to Rp. 300,000,000 wholly fully and paid up. The deed of amended was
made by Mr. Haji Rakhmat Syamsul Rizal, SH, MH., a public notary in Jakarta,
under Company Registration Number C-UM.02.01.17423, dated December 1, 2005. The
latest based on notary documents of Mr. H. Rakhmat Syamsul Rizal, SH., MH., No.
17 dated 13 August 2008 the board of director and the board of commissioner
reappointed to lead and run of the company’s operation. The latest revision of
notary documents was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-66639.AH.01.02.TH.2008 dated September 22, 2008.
P.T. TP started
with operation since 2001 dealing with trading, importer, supplier and
distribution of pharmaceutical basic materials and food ingredients. Mr.
Soekiandi Ali AKA Kian Hen Lie the director and owner of the company said that
whole pharmaceutical basic materials and food ingredients are imported from
Malaysia, India and China with various types and specification. The
merchandising goods products are pharmaceutical products, food ingredients,
bulk drugs, food additives, cosmetic raw materials such as INOSIL, DRIED
CHIVES, GOS, FEED, Lysine Feed Grade. She went on to say that whole merchandise
products are supplied among food processing industries and pharmaceutical industries
especially operating in Java. The company also supplies food ingredient basic
materials to P.T. DANONE INDONESIA, P.T. NESTLE INDONESIA, cosmetic raw
materials to P.T. UNZA VITALIS, P.T. MARTINA BERTO, pharmaceutical basic
materials to P.T. PYRIDAM PHARMA Tbk, P.T. SANBE FARMA, P.T. BINTANG TOEDJOE,
P.T. ARMOXINDO INDONESIA and other food and pharmaceutical industries. The
company had established the strong relationship with the major drug formulation
and food & beverages manufacturers. We observe that P.T. TP has been
growing in the last three years and is classified as a small sized company of
its kind in the country.
Generally,
demand for laboratory and medical equipment and various pharmaceutical products
had been growing in the last five years up to the end 2012 as pictured in sales
value of national pharmaceutical products, import value and export value issued
by the Food and Drug Controlling Board (BPOM). The national pharmaceutical
sales, export and import value of products are estimated to be rising by 6% to
8% in the next year. The competition is very tight on account many similar
companies operating in the country. The business position of P.T. TP is a
sufficiently fairly good because the company has captive market namely the
state-owned hospital and private hospital in the country. According the BPOM
that national pharmaceutical sales as shown are as the following table.
National Market Trend of Drugs, 2001-2012* (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012* |
12.850 15.483 17.458 20.872 23.629 23.173 25.600 29.981 33.965 37.531 43.081 45.235 |
7.891
9.618 10.829 12.706 14.675 13.834 13.959 16.969 19.225 21.142 23.506 25.281 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 3,213 3.420 3.610 3.900 4.095 |
Source: Food and Drug Controlling Board (BPOM)
*)
Estimated
Until this time
P.T. TP has not been registered with Indonesian Stock Exchange, so that they had
not obliged to announce their financial statement. The management of P.T. TP 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. 9.5 billion rose to Rp. 10.6 billion in 2011 increased to Rp.
11.5 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. 690 million
and the company has an estimated total net worth of at least Rp. 1.9 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 company is
led by Mr. Soekiandi Ali AKA Kian Hen Lie (44), a businessman and professional
manager with has experienced for more than 13 years in the field of trading,
importer, supplying and distribution of pharmaceutical raw materials, food
ingredient and cosmetic raw materials. We observed that management’s reputation
in said business is sufficiently fairly good. The company has had wide relation
in the realm of the 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. TATARASA PRIMATAMA is sufficiently fairly good
for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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.