|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. MEXIS |
|
|
|
|
Registered Office : |
Gedung
Cityloft Sudirman 15th Floor Suite 15.11, Jalan K.H. Mas Manyur No. 121, Karet Tengsin, Tanah Abang, Jakarta Pusat,
12920 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
10.09.2008 |
|
|
|
|
Com. Reg. No.: |
No.
AHU-34772.AH.01.02.TH.2012 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading, Import and Distribution of Ammonium Nitrate and Other Related Products |
|
|
|
|
No. of Employees : |
27 |
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 an estimated 6.2% and 6.5% 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 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. MEXIS
Head Office
Gedung
Cityloft Sudirman 15th Floor Suite 15.11
Jalan K.H. Mas Manyur No. 121
Karet
Tengsin, Tanah Abang
Jakarta
Pusat, 12920
Indonesia
Phones -
(62-21) 2995 9830, 2995 9850
Fax - (62-21) 2995 9819
E-mail - arum.wijaya@mexis.org
Website - http://www.mexis.org
Building Area - 25 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Warehouse &
Storage
a. Bati-Bati, Banjarmasin
South Kalimantan
b. Pendingin, Sanga-Sanga
East Kalimantan
10
September 2008
P.T.
(Perseroan Terbatas) or Limited Liability Company
The Ministry of Law
and Human Rights
- No. AHU-93625.AH.01.01.TH.2008
Dated 4 December 2008
- No. AHU-34772.AH.01.02.TH.2012
Dated 26 June 2012
National
Private Company
The Department of
Finance
NPWP
No. 02.901.279.6-022.000
A
Member Company of the EASCO or RANJI KARYA SAKTI Group (see attachment)
Capital
Structure :
Authorized
Capital : Rp.
40,000,000,000.-
Issued
Capital :
Rp. 10,000,000,000.-
Paid
up Capital :
Rp. 10,000,000,000.-
Shareholders/Owners
:
a.
Mr. Safzen Noerdin -
Rp. 4,000,000,000.-
Address : Jl. Sukarma No. 10
Kelurahan Rangkapan Jaya,
Kecamatan
Beji, Depok, West Java
Indonesia
b.
Mr. Ir. Didi Asmir, MBA -
Rp. 3,000,000,000.-
Address :
Rawa Bambu, RT. 006 RW. 002
Kelurahan Kebagusan, Kecamatan
Pasar
Minggu, Jakarta Selatan
Indonesia
c.
Mr. Awaludin Basriyanto Ganto -
Rp. 3,000,000,000.-
Address :
Jl. HOS Cokroaminoto No. 97, RT. 003 RW. 005
Kelurahan Menteng, Kecamatan Menteng
Jakarta Pusat
Indonesia
Lines
of Business :
Trading,
Import and Distribution of Ammonium Nitrate and Other Related Products
Production
Capacity :
None
Total
Investment :
Owned
Capital -
Rp. 40.0 billion
Started
Operation :
2009
Brand
Name :
Mexis
Technical
Assistance :
None
Number
of Employee :
27
persons
Marketing
Area :
Local - 100%
Main
Customer :
Coal
Mining
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. ASA KARYA MULTI PRATAMA
b. P.T. DAHANA (Persero)
c. P.T. KALTIM NITRATE INDONESIA
d. P.T. MULTI NITROTAMA KIMIA
e. P.T. SUMA ENERGI NUSANTARA
f. P.T. TRIFITA PERKASA
Business
Trend :
Growing
Bankers :
a. P.T. Bank
MANDIRI Tbk
Plaza Mandiri
Jalan Jend.
Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Barclays Building
Jalan Jend. Sudirman Kav. 22-23
Jakarta
Selatan
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2010
– Rp. 55.0 billion
2011
– Rp. 58.0 billion
2012
– Rp. 64.0 billion
Net
Profit (estimated) :
2010
– Rp. 4.4 billion
2011
– Rp. 4.6 billion
2012
– Rp. 5.4 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director -
Mr. Awaludin Basriyanto Ganto
Marketing Executive - Mrs. Arum Wijaya
Board of Commissioners :
President Commissioner - Mr. Letjend. TNI Marines
(Retired) Safzen Noerdin
Commissioners - Mr. Ir. Didi Asmir, MBA
Signatories :
Director
(Mr. Awaludin Basriyanto Ganto) which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. MEXIS was established in Jakarta based on notary deed of Mrs. Ina Rosaina, SH., No. 12 dated 10 September 2008 with the authorized capital of Rp. 40,000,000,000 issued capital of Rp. 10,000,000,000 entirely paid up. The founding and shareholders of the company originally were P.T. RANJI KARYA SAKTI (60%) and Mr. Ir. Lukman Purnomosidi, MBA., (40%). The company notary deed has been changed and according to the latest revision of notary documents of Mrs. Tatyana Indrati Hasjim, SH., No. 04 dated 8 June 2012, P.T. RANJI KARYA SAKTI and Mr. Ir. Lukman Purnomosidi, MBA pulled out and the whole share taken over by Mr. Safzen Noerdin (40%), Mr. Ir. Didi Asmir, MBA (30%) and Mr. Awaludin Basriyanto Ganto (30%) as new shareholders. The deed of notary documents was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-34772.AH.01.02.TH.2012 dated June 26, 2012.
We observe Mr. Ir. Didi Asmir, MBA is also business stakes owner of the RANJI KARYA SAKTI or EASCO Group, a small sized business group headed by Mr. Haji Emil Abbas, MBA.
P.T. MEXIS is a private company started to be operating since 2009 engaged in the field of trading, import, supply and distribution of ammonium nitrate and related products. MEXIS is active in commercial explosives for mining, quarrying and infrastructure market as well as oil & gas. MEXIS is one in only eight companies in Indonesia who has been awarded the necessary licenses by the Ministry of Defense, as regulator of the commercial explosives industry, to produce, import, distribute, provide storage and conduct blasting services. MEXIS is Mining Explosives Industry & Supply – strives to become a key major player in the civil explosives industry. MEXIS is continuously developing its integrated explosive services, combining a wide-range of explosive materials from reliable explosive manufacturers and integrate them into a state-of the-art explosive service. MEXIS is supported by people who have extensive experience and knowledgeable of the process, particularly within the mining industry. In line with having a favorable outlook driven by energy industries particularly in oil & gas, mineral and coal mining activities, MEXIS’ businesses are set for solid growth. The need for an integrated explosive service has been more crucial to sustain growing businesses for such industries. Their approach draws on MEXIS’ wide-range of resources to provide end-customers with tailor-made solutions that can make a positive difference to a given project.
In order to reinforce the business performance and to
support a supply chain, MEXIS has plans to setup an explosives distribution
centre situated in East Kalimantan. The objective is to deliver efficiency,
support high productivity and share the value added for business operation to
end-customers who have their operating business activities mostly in, but not
limited to, Kalimantan and Eastern Indonesia. MEXIS deals with businesses in
the following area: Procurement Services for various explosive materials and
accessories, Ammonium Nitrate Magazine & High Explosive Magazine Estate,
Down The Hole & Blasting Services, and Blast-hole Drilling Services. Mrs.
Arum Wijaya, marketing executive of the company explained the whole products
imported from Australia, China and South Korea. Then the whole products
supplied to coal mining among others are P.T. ADARO INDONESIA, P.T. ARUTMIN
INDONESIA, P.T. KALTIM PRIMA COAL, P.T. BANGUN BUANA PERSADA KALIMANTAN (BBPK)
and other coal mining which operating in South Kalimantan and East Kalimantan.
We observe the operation of P.T. MEXIS has been growing and developing well in
the last three years.
Generally outlook the demand for ammonium nitrate has kept on rising by about 10% to 12% in line with the rapid growth of mining industry sector and other industrial sectors as its consumers in the country. The occurring of the crisis has affected badly to various industrial sectors particularly the ones whose major materials is imported. In the meantime, we realized that market competition is very tough on account of many other imported products are being offered in the domestic market. As from the end of 2009, its business operation started to arise in line with the amelioration of economic condition and the domestic mining business industry. In the long run, P.T. MEXIS has a quite good future business prospect once economic crisis starts recovery.
Until this time P.T. MEXIS 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. 55.0 billion rose to Rp. 48.0 billion in 2011 increased to Rp. 64.0 billion in 2012 and projected to go on rising by at least 6% in 2013. The operation in 2012 yielded an estimated net profit of at least Rp. 5.4 billion and the company has an estimated total networth of at least Rp. 15.0 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. MEXIS is led by Mr. Awaludin Basriyanto Ganto (36) a businessman and professional manager with experience in trading, import and distribution of ammonium nitrate and related products. Mr. Awaludin B. GANTO has experience in the banking industry for over seven years. Having worked in Fortis Bank S.A. / N.V. in Singapore and ANZ Bank Indonesia collectively from 2004 to 2012, he brings expertise in finance and corporate relationship management. Mr. Basri graduated from Norwich University Corps of Cadets – Military College of Vermont, U.S.A. in 2002.
Besides, the company is also is Supervised by Mr. Letjend. TNI Marines
(Retired) Safzen Noerdin (61) as President Commissioner, who has been Special
Expert Staff for the Defense Minister, Indonesia in 2009 to 2011. Mr. Noerdin
served as Commander of Marine Corps, Indonesia from 2005 to 2007, Naval
Inspector General from 2007 to 2008 and Defense Department Inspector General
from 2008 to 2009. He has been President Commissioner of P.T. ASABRI since
2008. He was the Commissioner at PT. Berlian Laju Tanker Tbk in 2010. Mr.
Noerdin graduated from the Indonesian Military Academy - Navy in 1975. He
continued his education in the Naval School of Commando, the Indonesian
Military School of Commando, and the Jakarta Open University majoring in State
Administration.
Mr. Didi ASMIR, MBA (41) has experience in supply chain management and
business strategy for corporate level for more than 15 years. Preparing and formulating
business development for large scale Industry such mining, oil & gas and
logistics are some of his expertise. Mr. Didi ASMIR graduated from Ecole de
Management Lyon (EM Lyon), France in 1999. 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. MEXIS is sufficiently fairly good for business
transaction.
Attachment:
List
of the EASCO or RANJI KARYA SAKTI Group Members
1.
ASURANSI
SYARIAH MUBAROKAH, P.T. (Insurance Services)
2.
DAYATAKA
PARQUIT INDUSTRY, P.T. (Parquet Industry)
3.
EMIL
ABBAS CORPORATION (EASCO), P.T. (Investment Holding)
4.
EASCO
EAST SEPANJANG, P.T. (Oil and Natural Gas Exploration and Production)
5.
EASCO
PETROLEUM, P.T. (Investment Holding)
6.
EASCO
MINING, P.T. (Mining)
7.
EASCO
SUKARAJA, P.T. (Oil and Natural Gas Exploration and Production)
8.
EASCO
SERVICES, P.T. (Information technology Services)
9.
GEOTEK
NUSANTARA, P.T. (Aerial Survey and Mapping Services)
10.
MEXIS,
P.T. (Trading and Distribution of Ammonium Nitrate and Related Products)
11.
RANJI
KARYA AGRO, P.T. (Sugarcane Plantation and Refinery)
12.
RANJI
KARYA COAL TERMINDO, P.T. (Stock Piling and Coal)
13.
RANJI
KARYA CATERINDO, P.T. (Catering Services)
14.
RANJI
KARYA EQUIPINDO, P.T. (Trading)
15.
RANJI
KARYA FINANCIAL, P.T. (Finance Services)
16.
RANJI
KARYA FURNITAMA, P.T. (Furniture)
17.
RANJI
KARYA GRAFIKA, P.T. (Graphic Printing Services)
18.
RANJI
KARYA INVESTINDO, P.T. (Offshore Finance Services)
19.
RANJI
KARYA KONTRAKTOR, P.T. (General Contracting Services)
20.
RANJI
KARYA MARIN, P.T. (Marine and Shipping Services)
21.
RANJI
KARYA NIAGA, P.T. (General Trading)
22. RANJI KARYA PETROLINDO, P.T. (Petroleum Services)
23.
RANJI
KARYA SAKTI, P.T. (Petroleum Offshore Supply Based and Investment Holding)
24.
SIERA
KONSULTAN, P.T. (Consulting Services)
25.
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
UK Pound |
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.