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Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. AGROMIS
PRIMA |
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|
|
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Registered Office : |
Jalan Kamal Indah IV Block D No. 31 Kelurahan Kamal, Kecamatan Kalideres Jakarta Barat, 11810 |
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Country : |
Indonesia |
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Date of Incorporation : |
08.03.2006 |
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|
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Com. Reg. No.: |
No. AHU-52784.AH.01.02.TH.2010 |
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|
|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
General Trading and Importer of Agriculture
Products |
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No. of Employees : |
13 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 |
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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 – 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. AGROMIS PRIMA
Address :
Head Office
Jalan Kamal Indah IV Block D No. 31
Kelurahan Kamal, Kecamatan Kalideres
Jakarta Barat, 11810
Indonesia
Phones - (62-21)
55960348 (Hunting), 55060401
Fax - (62-21) 55960844
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Established :
8 March 2006
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability
Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C-22186.HT.01.01.TH.2006
Dated
28 July 2006
- No.
AHU-04424.AH.01.02.TH.2008
Dated
29 January 2008
- No.
AHU-52784.AH.01.02.TH.2010
Dated
9 November 2010
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 02.544.990.1.085.000
The Department of Industry and Trade
TDP No. 09.04.1.51.24476
Dated 16 August 2006
Related Company :
None
Capital Structure :
Authorized Capital - Rp. 5,000,000,000.-
Issued Capital - Rp. 5,000,000,000.-
Paid up Capital - Rp. 5,000,000,000.-
Shareholders/Owners :
a. Mr. Lo Reynaldi Christianto -
Rp. 1,700,000,000.-
Address : Jl. Lontar Raya No. 341
Kel. Tanjung Duren Utara
Jakarta Barat
b. Mr. Kasim Santoso -
Rp. 1,650,000,000.-
Address : Jl. Jl.
Jend. S. Parman RT.04/01
Kel. Kota, Belitung
South Sumatra
c. Mr. Kwok Kwong Ping -
Rp. 1,650,000,000.-
Address : Jl. Kebon Pala I/24, RT.002/005
Kel. Kampung Melayu
Jakarta Timur
Lines of Business :
General Trading and Importer of Agriculture
Products
Production Capacity :
None
Total Investment :
Owned Capital - Rp. 5.0 billion
Started Operation :
2006
Brand Name :
Agromis Prima
Technical Assistance :
None
Number of Employee :
13 persons
Marketing Area :
Domestic (local) - 100%
Main Customer :
Traditional Market, Food and Beverages
Industries, Agriculture products Stores, etc
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ADI SAMPOERNA
b.
P.T. ALAM INDO RAMA
c.
P.T. DAKAI IMPEX
d.
C.V. PUTRA NUSA
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T.
Bank CIMB NIAGA Tbk
Komp. Pasar Induk Beras
Jakarta Timur
Indonesia
b.
P.T. Bank CENTRAL ASIA Tbk
Jalan Balai Pustaka Timur J/225-C
Jakarta Timur
Indonesia
Auditor :
Internal
Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 14.2 billion
2011 – Rp. 15.0 billion
2012 – Rp. 16.2 billion
Net Profit (estimated) :
2010 – Rp. 1.3 billion
2011 – Rp. 1.4 billion
2012 – Rp. 1.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Ferry Setiawan Gunawarman
Director - Mr. Susanto Hutama
Taufiq
Board of Commissioners :
President
Commissioner - Mr. Lo Reynaldy
Christianto
Commissioner - a. Mr. Kasim
Santoso
b. Mr. Kwok Kwong Ping
Signatories :
President
Director (Mr. Ferry Setiawan Gunawarman) or Director (Mr. Susanto Hutama
Taufiq) which must be approved by the 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. AGROMIS PRIMA (P.T. AP) was established in East Jakarta based on
notary deed of Mrs. Rose Takarina SH., No. 27 dated 8 March 2006 with an
authorized capital of Rp. 5,000,000,000 issued capital of Rp. 3,000,000,000
entirely paid up. The founding shareholders are Mr. Lo Reynaldi Christianto,
Mr. Kasim Santoso and Mr. Kwok Kwong Ping. They are Indonesian businessmen of
Chinese extraction. The deed of amendment was approved by the Ministry of Law
and Human Rights in its decision letter No. C-22186.HT.01.01.TH. 2006, dated
July 28, 2006. The Company notary deed had been changed and based on notary
deed of Mrs. Rose Takarina SH., No. 33 dated 18 December 2007 the issued
capital was increased to Rp. 5,000,000,000 entirely paid up. With this
development the composition of its shareholders has been changed to become Mr.
Lo Reynaldi Christianto (34%), Mr. Kasim Santoso (33%) and Mr. Kwok Kwong Ping
(33%). The deed of amendments was approved by the Ministry of Law and Human
Rights in its decision letter No. No. AHU-04424.AH.01.02.TH.2008 dated January
29, 2008. The latest based on
notary deed of Mrs. Rose Takarina, SH., No. 60 dated 28 October 2010 the
company status domicile and address was moved into West Jakarta. The deed of
amendments was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-52784.AH.01.02.TH.2010 dated November 9, 2010.
P.T. AP is a private company started to be operating since 2006 engaged
in the field of trading, import and distribution of agriculture commodities products.
Mr. Sapto Utama, senior staff of the company, said that the activity volume of
the company is mostly dealing with trading and importing of agricultural
products such as groundnut kernels, green nuts, pepper, dried chili, corn
powder, rice, sesame seeds, etc. The company import agriculture products from
India (dried chili), China (groundnut, green nut, dried chili, and corn
powder), Thailand and Vietnam (rice). However, P.T. AP also sales of
agriculture products local such as groundnut, pepper, rice and nutmeg. The
whole products supplied to snack food industries such as P.T. INDOFOOD SUKSES
MAKMUR Tbk, foodstuff stores, wholesalers, and traditional market in Jakarta,
Surabaya, Semarang, Lampung and other major cities in the country. Furthermore,
it was explained that P.T. AP has made business relation as agricultural
supplier for along time with snack food processing, wholesalers, foodstuff
stores and until this time the business relation still tied in with them. We
observed that the company’s operation has been growing slowly in the last three
years.
We have noticed that the demand for agricultural products had increased
some 10% to 11% per annum in the last five years 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 6% to 7% per annum. The
present market situation for agricultural products is very competitive for a
large number of similar companies operating in the country. Meanwhile, competition
is quite heavy in the export import of agricultural products with many
companies now doing business in this field in Indonesia. We consider P.T. AP to
be in a quite favorable position for having already got holds of a steady
customer in the country.
Until this time P.T. AP has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of the company 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. 14.2 billion rose to Rp. 15.0 billion in
2011 increased to Rp. 16.2 billion in 2012 and projected to go on rising by at
least 5% in 2013. The operation in 2012 is figured to have net profit of at
least Rp. 1.5 billion. The company has an estimated total net worth of at least
Rp. 8.0 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. AP is led by Mr. Ferry Setiawan
Gunawarman (39) a professional manager with experience in trading, export
import and distribution of agricultural commodities products. Daily activity he
is assisted by Mr. Susanto Hutama Taufiq (36) as director. 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. AGROMIS PRIMA is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.78 |
|
|
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
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 |
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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.