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Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. KAIROS TRITUNGGAL |
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Registered Office : |
Ruko Inkopau Ujung
Menteng Block A No. 8-9 Jalan
Sultan Hamengkubuwono IX Cakung Jakarta Timur, 13960 |
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Country : |
Indonesia |
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Date of Incorporation : |
05.06.2008 |
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Com. Reg. No.: |
No. AHU-76677.AH.01.01.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Pharmaceutical Raw Materials |
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No. of Employees : |
12 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 6.1% and 6.4% 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
small current account surplus, a fiscal deficit below 2%, 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
2012 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 rising oil prices.
Source : CIA
P.T. KAIROS
TRITUNGGAL
Head Office
Ruko Inkopau Ujung Menteng Block A No. 8-9
Jalan Sultan Hamengkubuwono IX
Cakung
Jakarta Timur, 13960
Indonesia
Phones -
(62-21) 4680 2216-19
Fax - (62-21) 4680 2187
Building Area - 2 storey
Office Space - 200 sq. meters
Region - Industrial
Zone
Status - Rent
Date of Incorporation :
5 June 2008
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-76677.AH.01.01.TH.2008
Dated 22 October
2008
Company Status
:
Private National
Company
Permit by the
Government Department :
The Department of Finance
No.
21.042.942.9-006.000
Related
Company :
P.T. SANDI ANEKA
WARNA (Trading and Distribution of Pesticides)
Capital
Structure :
Authorized
Capital : Rp.
600,000,000.-
Issued Capital : Rp.
600,000,000.-
Paid up Capital : Rp.
600,000,000.-
Shareholders/Owners
:
a. Mr. Michael Andre Widjajanto - Rp. 405,000,000.-
Address : Jl. Alamanda Bawah Block VIII No. 12
Semarang, Central Java
Indonesia
b. Mr. Indra Sardjono Puspawidjaja - Rp. 135,000,000.-
Address : Jl. Mahkota IV Block E4
Kota Modernland, Tangerang
Jakarta Barat
Indonesia
c. Mr. Kompri -
Rp. 60,000,000.-
Address : Jl. Simponi Mas V B-8/10 B
Pegangsaan, Jakarta Utara
Indonesia
Lines of
Business :
Trading and
Distribution of Pharmaceutical Raw Materials
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
September 2008
Brand Name :
Kairos Tritunggal
Technical
Assistance :
None
Number of
Employee :
12 persons
Marketing Area
:
Local - 100%
Main Customer
:
Pharmaceutical
Industries
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. BINTANG
INTI TALENTA
b. P.T. DIVA MITRA BOGATAMA
c. P.T. LAWSIM ZECHA
d. C.V. SUMBER MITRA NIAGA
e. Etc.
Business Trend
:
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Kelapa Gading Boulevard Raya Block No. 1
Kelapa Gading, Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2009 – Rp. 8.0 billion
2010 – Rp. 9.2 billion
2011 – Rp. 10.7 billion
2012 – Rp. 5.8 billion (January
– June)
Net Profit
(estimated) :
2009 – Rp. 400
million
2010 – Rp. 506
million
2011 – Rp. 642
million
2012 – Rp. 348
million (January – June)
Payment Manner
:
Average
Financial Comments :
Satisfactory
Board of
Management :
President Director -
Mr. Kompri
Director - Mr. Indra Sardjono Puspawidjaja
Marketing Manager -
Miss. Prilia Hadijojo
Board of
Commissioner :
Commissioner -
Mr. Michael Andre Widjajanto
Signatories :
President Director (Mr. Kompri) or the Director
(Mr. Indra Sardjono Puspawidjaja) which must be approved by Board of
Commissioners
Management
Capability :
Satisfactory
Business Morality
:
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount – periodical review
P.T. KAIROS
TRITUNGGAL (P.T. KT) was established in Jakarta, in June 2008 with the
authorized capital of Rp. 600,000,000 wholly issued and paid up. The founding
shareholders of the company are Mr. Michael Andre Widjajanto, Mr. Indra
Sardjono Puspawidjaja and Mr. Kompri, they are Indonesian businessmen of
Chinese origins. The deed of amended was approved by the Ministry of Law and
Human Right in its decision letter Number AHU-76677.AH.01.01.TH.2008, dated
October 22, 2008.
P.T. KT is
engaged in the field of trading and distribution of pharmaceutical raw
materials. The above merchandise products are pharmacy additive raw material
and OTC such as Amlodipine Besylate, Attapulgite, Allylestrenol, Analgin,
Betahistine Mesylate, Betamethason Dipropionate, Bupiyacaine Monohydrate,
Calcium Pidolate, Clommiphene Citrate, Cefuroxime Axetil Amorphous, Cefadroxil
Monohydrate BP Compacted and others.
Mrs. Titin,
marketing executive of the company added that the whole products imported from
India, China, Tiawan, Europe Union, USA and others counties. Besides, some of
the pharmaceutical raw materials is also bought from P.T. EUTHICA UNGGUL JAYA.
The whole products are supplied to pharmaceutical industries such as P.T.
TRIYASA NAGAMAS FARMA, P.T. MEDIFARMA LABORATORIES INC., P.T. PYRIDAM PHARMA
Tbk, P.T. MERCK INDONESIA Tbk, P.T. MEIJI INDONESIA, P.T. MERSIFARMA TIRMAKU
MERCUSANA, P.T. NOVELL PHARMACEUTICAL LABORATORIES and others. Meanwhile the
finished products like OTC (non ethical drugs) are supplied to various
dispensaries, hospitals, drug stores and various other consumers. We observe
the operation of P.T. KT has been growing slowly in the last three years.
Generally,
demand for pharmaceutical raw materials, laboratory and medical equipment and
various pharmaceutical products had been growing in the last five years up to
the end 20011 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. KT 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, 2001-2011 (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* |
12.850 15.483 17.458 20.872 23.629 23.173 25.600 29.981 33.965 37.531 43.081 |
7.891
9.618 10.829 12.706 14.675 13.834 13.959 16.969 19.225 21,142 23,506 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 3,213 3.420 3.610 3.900 |
Source: Food and Drug Controlling Board (BPOM)
*) Estimated
Until this time
P.T. KT has not been registered with Indonesian Stock Exchange, so that they
shall not obliged to announce their financial statement. The management of P.T.
KT is very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total sales turnover of the company in 2009
amounted to Rp. 8.0 billion rose to Rp. 9.2 billion in 2010 to Rp. 10.7 billion
in 2011. As from January to June 2012 the sales turnover has reached at least
Rp. 5.8 billion with a net profit of Rp. 348 million and projected to go on
rising by at least 5% in 2013. The company has an estimated total networth of
at least Rp. 1.5 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. KT is headed by Mr. Kompri (53) as president director and Mr. Indra
Sardjono Puspawidjaja (66) as director. Both of are has experienced in trading,
distribution and supply of pharmaceutical raw materials. 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. KAIROS TRITUNGGAL is sufficiently fairly good
for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
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.