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Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. NTP ENERGY SOLUTIONS |
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Registered Office : |
Mega Glodok Kemayoran 1st Floor Block A-1 No.
10-11, Kota Bandar Baru Kemayoran, Jalan Angkasa Kav. B-6,
Kelurahan Gunung Sahari Selatan, Kecamatan Kemayoran, Jakarta Pusat, 10610 |
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Country : |
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Date of Incorporation : |
July 2010 |
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Com. Reg. No.: |
No.
AHU-AH.01.10-23079 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and
Distribution of Energy Solution Services |
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No. of Employees : |
15 |
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.
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Source : CIA |
P.T. NTP ENERGY SOLUTIONS
Head Office
Mega Glodok
Kemayoran 1st Floor Block A-1 No. 10-11
Kota Bandar Baru Kemayoran
Jalan Angkasa Kav. B-6
Kelurahan Gunung Sahari Selatan Kecamatan Kemayoran
Jakarta Pusat,
10610
Indonesia
Phones -
(62-21) Has yet been installed
Mobile Phone - 0815 9805631 (Mr.
K.K. Joby)
Fax - (62-21) 64714502
E-mail - joby@ntpenergysolutions.com
Website - http://www.ntpenergysolutions.com
Building Area - 6 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
July 2010
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of Law and Human Rights
- No. AHU-40803.AH.01.01.TH.2010
Dated 19 August 2010
- No. AHU-AH.01.10-24501
Dated 29 September 2010
- No. AHU-AH.01.10-23079
Dated 21 July 2011
Foreign
Investment (PMA) Company
The Department of Finance
NPWP No.
03.048.202.0-026.000
None
Capital
Structure :
Authorized
Capital : US$
800,000.-
Issued Capital : US$
200,000.-
Paid up Capital : US$ 200,000.-
Shareholders/Owners
:
a. Mr. Krishna Nand Tiwary - US$ 120,000.-
Address :
Flat No. 604
80 Panchavati
India
b. Mr. Kalathil Mohanan Neettiyath - US$ 80,000.-
Address : Padmalaya Kiwale
Dehu Road
India
Lines of
Business :
Trading and
Distribution of Energy Solution Services
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
August 2010
Brand Name :
NTP Energy
Solutions
Technical
Assistance :
None
Number of
Employee :
15 persons
Marketing Area
:
Local - 100%
Main Customer
:
Industrial
Sectors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. GOLTENS
MARINE
b. P.T. MITRACO PERKASA SURYA
c. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank MANDIRI
Tbk
Jalan Angkasa
Kav. 2-3 Block 15
Gunung Sahari
Utara
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 2.5 billion (August – December)
2011 – Rp. 11.8
billion
2012 – Rp. 12.6
billion
Net Profit (estimated)
:
2010 – None
2011 – Rp. 0.7
billion
2012 – Rp. 0.8
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Joby Kachappilly
Kochuvarred
Board of Commissioners :
Commissioner -
Mr. Krishna Nand Tiwary
Signatories :
Director (Mr. Joby
Kachappilly Kochuvarred) which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
P.T. NTP ENERGY
SOLUTIONS (P.T. NES) was incorporated in July 2010 in Jakarta with the
authorized capital of US$ 800,000 issued capital of US$ 100,000 entirely paid up.
The founding shareholders of the company are Mr. Jyoty Pandey (50%), Mr.
Kalathil Mohanan Neettiyath (40%) and Mr. Rohit Mahajan (10%). The company
notary deed had been changed a couple of times. Then according to the latest
revision of notary documents of Mrs. Yunita Neni Susiandari,SH., M.Kn., No. 2
dated 30 June 2011 Mr. Jyoty Pandey, and Mr. Rohit MMahajan pulled out and
replaced by Mr. Krishna Nand Tiwary of India as new shareholder. With this time
the composition of its shareholders has been changed to become Mr. Krishna Nand
Tiwary (60%) and Mr. Kalathil Mohanan Neettiyath (40%). The deed of amendments
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.10-23079 dated July 21, 2011.
P.T. NES has
obtained a Foreign Investment (PMA) company facility to deal with trading and
distribution of energy solutions services. The company is an agent and
authorized distributor for THERMAX LTD., of India. The list of equipments below
provides standard solutions though their engineers would be happy to note the
specific issues and offer environmentally friendly solutions for saving
water.
The standard
solution offers standard equipments such as Clarifiers filters, Demineralizers,
Softeners Sea Water Reverse Osmosis, Back Water Reverse Osmosis, Ultra
filtration and Wastewater treatment plants. NTP utilizing it experiences on
heat recovery, strongly recommends capturing exhaust gases and jacket water
energy from power producing equipments such as gas engines, diesel engines, gas
turbines and waste heat from blast furnaces, flue gas from the stack. The
captured heat can be successfully converted into steam, hot water & chilled
water. Such recoveries use mainly customized equipments producing the results
without hampering the on going process of power production or manufacturing.
NTP energy
solution is committed to offer conversion of electrical heating to thermal
heating to industries such as polyester, BOPP, Nylon & other chemical and
related industries. NTP extends its services to offer installation and plant
room piping, following the best engineering codes and practices. A proper
location of chilled water pump, cooling water pump and cooling tower lowers
pumping head thus minimizing break kilowatts of the motors, saving power
and offering better space management for future maintenance.
P.T. NES
solutions specifically focus on:
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Heating
equipment – using a variety of fuels, including biomass
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Absorption
chillers fired by waste heat or steam
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Power
and captive cogeneration plans
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Waste
heat recovery units
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Waste
water management systems, pre treatment, waste water treatment and chemical
conditioning of water, sewage effluent treatment and recycling
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Air
pollution control system
-
Performance
improving chemicals
P.T. NES
(Thermax) provides industries with clean technologies that recover pollutants;
thereby reducing their hazardous impact on the environment. Today, many iron
& steel, cement, fertilizer and chemical industries reduce emissions using
our air pollution control systems. The services has used by P.T. NUBIKA JAYA,
P.T. SYNCO GLOBAL, P.T. SOUTH PACIFIC VISCOSE, P.T. INDO BHARAT RAYON, P.T.
INDO RAYA KIMIA, P.T. SUNRISE TEXTILE, P.T. INDORAMA SYNTHETICS Tbk, INDORAMA
Group and others. We observe that P.T. NES’s operation has been growing and
developing well in the last three years.
Generally,
energy solution equipment, and other technical equipments had kept increasing
by 8% to 10% per annum in the last five years in line with the growth of
industrial sectors including textile industry, chemical industry, oil and
natural gas, building contractor, pharmaceutical, food & beverage, pulp
& paper, cement, and other sectors requiring these equipments. It is
projected that the demand will keep going up in five years to come. The competition
is very tight on account of many similar companies operating in the country.
The business position of P.T. NES is favorable on account of having already
established customers and wide marketing networks in the country.
Until this time
P.T. NES has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T. NES is very reclusive towards
outsiders and rejected to disclose its financial condition. We observed
that total sales turnover of the company in the first year operation August to
December 2010 amounted to Rp. 2.5 billion increased to Rp. 11.8 billion in 2011
to Rp. 12.6 billion in 2012 and projected to go on rising by at least 5% in
2013. The operation in 2012 has yielded a net profit of at least 0.8 billion
and the company has an estimated total networth of Rp. 3.5 billion.
We observe that
P.T. NES is supported by foreign partner with has financially strong and sound behind
it. 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. NES is led by Mr. Joby Kachappilly Kochuvarred (40) a professional
manager of India with experience in trading, import and distribution of energy
solution equipment. 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.
NTP ENERGY SOLUTIONS is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
UK Pound |
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
<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.