|
Report Date : |
01.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. INDOSAT TBK |
|
|
|
|
Registered Office : |
Gedung Indosat, 2nd Floor, Jl. Medan Merdeka Barat No. 21, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
04.09.1997 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-37167 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
To provide telecommunications networks, telecommunication
services and information technology and/or convergence technology services |
|
|
|
|
No. of Employees : |
4,540 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source : CIA |
Name
of company :
P.T. INDOSAT Tbk
A d
d r e s s :
Head Office
Gedung Indosat, 2nd Floor
Jl. Medan Merdeka Barat No. 21
Jakarta Pusat 10110
Indonesia
Phones - (62-21) 3000 3001, 3044 2615
Fax
- (62-21) 3000 3757
Email -
investor@indosat.com
Website -
http://www.indosat.com
Building Area - 8 storey
Office Space -
1,200 sq. meters
Region -
Commercial
Status -
Owned
Date
of Incorporation :
a. 10 November 1967 as PT. Indonesian
Satellite Corporation
b. 04 September 1997 as PT. Indonesian
Satellite Corporation Tbk or PT. INDOSAT Tbk
Legal
Form :
P.T. Tbk. (Perseroan Terbatas Terbuka) or
Public Listed Company
Company
Reg. No. :
The Department of Law and Human Rights
- No. J.A. 5/88/24
Dated 20 November 1967
- No. C-04216.HT.01.04.TH.2006
Dated 15 February 2006
- No. AHU-31103.AH.01.02.Tahun 2009
Dated 07 July 2009
- No. AHU-09555.AH.01.02.Tahun 2010
Dated 22 February 2010
- No. AHU-AH.01.10-37167
Dated 16 October 2012
Company
Status :
Foreign Investment
Company (PMA)
Permit
by the Government Departments :
a. The Department of Finance
NPWP No. 01.000.502.3-051.000
b. The Capital Investment Coordinating
Board
No. 14/V/PMA/2003
Dated 07 February 2003
c. The Capital Market Supervisory Agency
No. S-1656/PM/1994
Dated 23 September 1994
Holding
Company :
OOREDOO ASIA Pte. Ltd., (Ex. Qtel Asia), (Investment Holding)
Subsidiaries
Companies :
a. P.T. APLIKANUSA LINTASARTA (Data
Communication and Investment Holding)
b. P.T. LINTAS MEDIA DANAWARA (Communication
and Information Provider Services)
c. P.T. ARTAJASA PEMBAYARN ELEKTRONIS
(Telecommunication Services)
d. P.T. INDOSAT MEGA MEDIA (Multimedia and
Investment Holding)
e. P.T. INTERACTIVE VISION MEDIA (Pay
Television)
f.
P.T. STARONE MITRA TELEKOMUNIKASI (Telecommunication Services)
g. INDOSAT SINGAPORE Pte. Ltd.,
(Telecommunication and Investment Holding)
h. INDOSAT INTERNATIONAL FINANCE COMPANY
B.V. (Financing Services)
i.
INDOSAT FINANCE COMPANY B.V. (Financing Services)
j.
INDOSAT PALAPA COMPANY B.V. (Financing Services)
k. INDOSAT MENTARI COMPANY B.V. (Financing
Services)
Capital
Structure :
Authorized Capital -
Rp. 2,000,000,000,000.-
Issued Capital -
Rp. 543,393,350,000.-
Paid up Capital -
Rp. 543,393,350,000.-
The
Latest Shareholders :
a. The Government
of the Republic of Indonesia -
Rp. 77,662,500,000.- (14.29%)
b. Ooredoo Asia
Pte. Ltd. (Ex. Qtel Asia) of Singapore -
Rp. 353,205,660,000.- (65.00%)
c. SKAGEN Funds
(SKAGEN AS) -
Rp. 29,938,240,000.- ( 5.51%)
d. The Public
(each holding below 5%) -
Rp. 112,525,190,000.- (15.20%)
Lines
of Business :
a. To provide telecommunications networks,
telecommunication services and information
technology and/or convergence technology
services.
b. Investment Holding
Production
Capacity :
None
Total
Assets (as of 31 Dec. 2012) :
Rp. 55,225.1 billion
Started
Operation :
1 9 6 7
Brand
Name :
INDOSAT
Technical
Assistance :
Ooredoo Asia Pte. Ltd., (formerly QTel Asia), of Singapore
Number
of Employee :
4,540 persons
Marketing
Area :
Domestic and overseas market
Main
Customers :
Publics and Corporate
Market
Situation :
Very Competitive
Main
Competitors :
a. PT. Telkomsel
b. PT. Telkom Tbk
c. PT. XL Axiata Tbk
d. Etc.
Business
Trend :
Fluctuating
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
b. P.T. Bank NEGARA INDONESIA Tbk.
c. P.T. Bank RAKYAT INDONESIA
d. P.T. Bank NEGARA INDONESIA
e. P.T. Bank Pembangunan Daerah DKI Jakarta
f. P.T. Bank Pembangunan Daerah Jawa Timur
Auditor
:
Purwantono, Suherman & Surja (a member
firm of Ernst & Young Global)
Litigation
:
No litigation record in our database
Total
Income/Revenues :
2010 – Rp.
19,796.5 billion
2011 – Rp.
20,529.3 billion
2012 – Rp.
22,418.8 billion
2013 – Rp.
11,708.1 billion (as of 30 June 2013)
Net
Profit (Loss) :
2010 – Rp.
724.0 billion
2011 – Rp. 1,066.7 billion
2012 – Rp.
487.4 billion
2013 – (Rp. 169.2 billion) (as of 30 June 2013)
Payment Manner :
Almost promptly
Financial
Comments :
Satisfactory
Board of Management :
President Director
& CEO - Mr. Alexander Rusli
Directors -
a. Mr. Curst Stefan Carlsson
b. Mr. Frederik Johannes Meijer *
c. Mr. Hans
Christian Moritz **
d. Mr. Fadzri
Sentosa
*) On June 18, 2013, the company received a
resignation letter from Mr. Frederik Johannes Meijer
**) On August 31, 2013, the company received a resignation
letter from Mr. Hans Christian Moritz
Board of Commissioner :
President
Commissioner - Mr. Abdulla Mohammed S.A. Al Thani
Commissioners -
a. Dr. Nasser Moh. A. Marafih
b. Mr. Rachmad
Gobel
c. Mr. Richard
Farnsworth Seney
d. Mr. Rionald
Silaban
e. Mr. Rudiantara
f. Mr. Chris Kanter
g. Mr. Thia Peng
Hoek George
h. Mr. Soeprapto
i. Mr. Beny Roelyawan
Signatories :
President
Director (Mr. Alexander Rusli) or one of Directors (Mr. Curt Stefan Carisson or
Mr. Fadzri Sentosa) which must be approved by the president commissioner (Mr.
Abdulla Mohammed S.A. Al Thani) and
other commissioner members
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below
average
Credit Recommendation :
Credit
can be proceeded normally
Proposed
Credit Limit :
Moderate amount
Initially named
P.T. INDONESIAN SATELLITE CORPORATION (P.T. INDOSAT), the company was
established in the Republic of Indonesia
on November 10, 1967 within the frame work of the Indonesian Foreign Investment
Law No. 1 of 1967 based on the notarial deed No. 55 of notary Mohamad Said
Tadjoedin, SH., with the authorized capital of Rp. 20,000,000.- of which Rp.
2,000,000.- was issued and paid up. The founding shareholders of the company
are American Cable and Radio Corporation, a sister company of US Telephone and
Telegraph Corporation based in Delaware, USA.
The Deed of establishment was approved by the Minister of Justice of the
Republic of Indonesia through its Letter No. J.A. 5/88/24 dated November 20,
1967.
The company’s
articles of association have been amended several times. In 1980, the Company was sold by American
Cable and Radio Corporation to the Government of the Republic of Indonesia
(“the Government”) and became a State –owned Company (Persero). In 1994, P.T. INDOSAT became a public listed
company by releasing 35% shares to public through the New York Stock Exchange
of 27.25% and through the Jakarta Stock Exchange of 7.75%. Concurrently the authorized capital was
raised to Rp 2,000,000,000,000.- of which rp 517,750,000,000.- was issued and
fully paid up. On September 4, 1997
behind the name was added by the work “Terbuka” (Tbk) to become P.T. INDOSAT
Tbk.
On May 16, 2002,
the Government sold 8.1% of the company’s outstanding common stock through an
accelerated global tender, reducing the Government’s shareholding to
56.9%. On December 20, the Government
sold 41.9% of the company’s outstanding common stock to ICLM (described below),
further reducing the Government’s shareholding to 15.0%. On December 15, 2002, the government through
State Minister of State Owned Companies Affairs announced that STT
Communications Ltd., (STT) was declared as the winner of P.T. INDOSAT Tbk.,
divestment (Rp 12,950 per share) worth Rp 5.62 trillion and paid in December
2002.
In June 2008,
Qatar Telecom Pte. Ltd., (Qtel Asia) acquired STT’s interest in P.T. INDOSAT
Tbk., triggering a mandatory tender offer by Qtel to acquire up to
1,314,466,775 Series B Shares, representing approximately 24.185 of their total
issued and outstanding Series B Shares, at a purchase price so the US dollar
equivalent of Rp 369,400 per ADS and Rp 7,388 per Series B share. Qtel is a publicly held corporation which is
majority-owned by the State of Qatar and its affiliated entities. Qtel is organized under the laws of the State
of Qatar with shares listed on the Doha Securities Market, as well as the Abu
Dhabi Securities Markets and Global Depository Receipts traded on the London
Stock Exchange. On March 7, 2013, Qatar Telecom Pte. Ltd., (Qtel Asia) changed
its name to Ooredoo Asia Pte. Ltd.
As of March 31,
2013, the authorized capital of P.T. INDOSAT Tbk., is Rp. 2,000,000,000,000.-
of which Rp. 543,393,350,000.- was issued and fully paid up. The shareholders of the company are The
Government of the Republic of Indonesia (14.29%), Ooredo Asia Pte. Ltd.,
(65.00%), Skagen Funds or Skagen AS (5.51%) and Public (15.20%).
We observed that
P.T. INDOSAT is a fully integrated Indonesian telecommunications networks and
services provider. The company offers a
full complement of national and international telecommunications services in
Indonesia and the second-largest cellular operator as measured by number of
cellular subscribers and a leading provider of international long-distance
services in Indonesia. The Company also
provides MIDI services for domestic and regional corporate and wholesale
customers as well as domestic retail customers.
For the years ended December 31, 201, 2011 and 2012, their operating
revenues totaled Rp 19,752.1 billion, Rp 22,531.6 billion and Rp 22,420.6
billion respectively.
The company’s
principal products and services include:
a.
Cellular services, The Company provide GSM 900 and
1800 and 3G cellular services to approximately 58.5 million cellular
subscribers (including wireless broadband subscribers) throughout Indonesia, as
of December 31, 2012. The company also
commenced providing wireless broadband services using their 3G platform in 2006
and as of December 31, 2012 had approximately 500,000 subscribers.
b.
MIDI services.
The Company provides broadband and narrowband MIDI services consisting
of Internet services and data communication services, such as International and
Domestic Leased Circuit, and MPLS-based services. The Company also offers satellite-based
services such as transponder leasing and VSAT services and IT services, such as
Disaster Recovery Center, Data Center services and Indosat Cloud Services. The Company provides these services directly
and through their subsidiaries, Lintasarta and IM2. The company offers this suite of products and
services primarily to their valued corporate and wholesale customers in an
attempt to be their information and telecommunication solution provider.
c.
Fixed telecommunications (voice) services. The Company is one of the leading providers
of international long-distance services in Indonesia, as measured by aggregate
incoming and outgoing call minutes for 2012.
To complement their cellular services and to enhance their access to
domestic and international long-distance customers. The Company also provides fixed wireless
access services using CDMA 2000 1x technology.
The Company has also provided DLD services since 2003 and local fixed
telephony services since 2002.
As of December 31,
2012, their postpaid cellular subscribers could roam international in 185
countries. In addition, for their
international long-distance services, the Company maintain direct connections
with 634 foreign telecommunications operators in 40 countries. A part of the global coverage, the Company
offers international calling services to Iran and to Cuba, Sudan and
Syria. There are roaming arrangement between Indosat and each
of Mobile Company of Iran (MCI), C Com, Syriatel Mobile Telecom SA (“Syriatel”)
and Sudanese Mobile Telephone Co. (“Mobitel”) for Iran, Cuba, Syria and Sudan,
respectively.
Beside, P.T.
INDOSAT Tbk., has ownership interest of more than 50% in the following
subsidiaries which are engaged in financing services, telecommunication
services, multimedia, pay TV, information and communication services. The table
of P.T. INDOSAT Tbk’s subsidiary companies shall be as follows:
(In Rp million)
|
Name of Subsidiary |
Lines of Business |
Start of Operations |
% of Ownership |
Total Assets (31 Dec. 2012) |
|
Indosat Palapa
Company B.V. |
Financing
services |
2010 |
100.00 |
6,442,367 |
|
Indosat Mentari
Finance Company B.V. |
Financing
services |
2010 |
100.00 |
6,436,524 |
|
Indosat Financ
Company B.V. |
Financing
services |
2003 |
100.00 |
21,963 |
|
Indosat
International Finance Company B.V. |
Financing
services |
2005 |
100.00 |
8,853 |
|
Indosat
Singapore Pte. Ltd. |
Telecommunication |
2005 |
100.00 |
99,519 |
|
PT. Indosat Mega
Media |
Multimedia
services |
2001 |
99.85 |
805,942 |
|
PT. Interactive Vision
Media |
Pay TV |
2011 |
99.83 |
5,448 |
|
PT. Starone
Mitra Telekomunikasi |
Telecommunication |
2006 |
72.54 |
250,726 |
|
PT. Aplikanusa
Lintasarta |
Data
Communication |
1989 |
72.36 |
2,034,858 |
|
PT. Lintas Media
Danawa |
Information and Communication
services |
2008 |
50.65 |
3,760 |
|
PT. Artajasa
Pembayaran Elektronis |
Telecommunication |
2000 |
39.80 |
372,556 |
Source: PT. Indosat Tbk.
According to the
financial statement of the company having been audited by registered public accountant
(Purwantono, Suherman & Surya), total income/revenues of P.T. INDOSAT Tbk.
in 2010 amounted to Rp. 19,796.5 billion with a net profit of Rp. 724.0 billion
incresed to Rp. 20,529.3 billion with a net profit of Rp. 1,066.7 billion in
2011 and rose again to Rp. 22,418.8 billion with a net profit of Rp. 487.4
billion in 2012. As of June 30, 2013, its total income/revenue was Rp. 11,708.1
billion with a net loss of Rp. 169.2 billion.
The company’s balance sheets and statement of income in fiscal 2010,
2011, 2012 and as of June 30, 2013 are attached. So far we did not hear that the P.T. INDOSAT
Tbk., has been black listed by Bank Indonesia (Central Bank) or having
detrimental cases being settled in local district court.
The management of
the company is headed by Mr. Alexander Rusli (42), completed all his formal
tertiary education in Curtin University, Western Australia. He holds a Doctor of Philosophy degree in
Information. Mr. Rusli assumed the role
of President Director and CEO of the Company, as of November 2012 after serving
as an Independent Commissioner since January 2010. Before November 2012, Mr. Rusli was a
Managing Director in Northstar Pacific, a Private Equity fund which focuses on
Indonesian opportunities. Prior to his
role in Northstar Pacific, Mr. Rusli served the Government of Indonesia for
nine years. In daily activities, he is
assisted by four directors namely Mr. Curst Stefan Carlsson (42) and Mr. Fadzri
Sentosa (50). The management has good
reputation in telecommunication business and wide relation with private
businessmen of home and overseas as well as with the government sectors. The management is having maintained a wide
business relation with private businessmen at home and abroad and with the
government sectors as well. So far, we
did not hear that the company’s management involved in the business practices
or detrimental cases that settled in the country. The company’s litigation
record is clean and it has not registered with the black list of Bank of
Indonesia.
P.T.
INDOSAT Tbk., is sufficiently fairly good for business transaction. However In view of the
unstable economic condition in the country, we recommend to treat prudently in
business transaction and in extending a loan to the company.
Attachment:
P.T. INDOSAT Tbk
and Its Subsidiaries
CONSOLIDATED
STATEMENT OF FINANCIAL POSITION
As of 31 December 2010, 2011, 2012 and as of
June 30, 2013
(in
Rp million)
|
D e s c r i p t i o n |
30
June |
31
December |
||
|
2013 |
2012 |
2011 |
2010 |
|
|
ASSETS |
|
|
|
|
|
a.
Current Assets |
|
|
|
|
|
- Cash and cash equivalents |
1,798,075 |
3,917,236 |
2,224,206 |
2,075,270 |
|
- Trade account receivables |
|
|
|
|
|
* Related parties |
881,656 |
574,650 |
318,243 |
207,289 |
|
* Third parties |
1,649,823 |
1,464,069 |
1,181,853 |
1,328,987 |
|
- Other receivables |
114,210 |
22,441 |
5,660 |
10,031 |
|
- Investments |
53,136 |
52,556 |
75,890 |
105,885 |
|
- Derivative Assets |
33,082 |
69,654 |
159,349 |
69,334 |
|
- Advances |
62,777 |
36,057 |
40,485 |
28,166 |
|
- Prepaid taxes |
604,317 |
294,343 |
30,695 |
49,903 |
|
- Prepaid licenses and frequency cost |
819,472 |
1,528,215 |
1,353,819 |
1,202,009 |
|
- Other prepaid cost |
365,197 |
335,815 |
351,833 |
325,245 |
|
- Other current financial assets |
11,020 |
13,382 |
24,790 |
53,119 |
|
- Other current assets |
5,461 |
392 |
742 |
702 |
|
Total Current Assets |
6,398,226 |
8,308,810 |
5,767,565 |
5,455,940 |
|
|
|
|
|
|
|
b.
Non-current Assets |
|
|
|
|
|
- Due from related parties |
7,274 |
10,358 |
10,654 |
8,421 |
|
- Deferred tax assets – net |
97,946 |
100,693 |
113,812 |
94,659 |
|
- Fixed assets – net |
42,379,096 |
41,964,793 |
43,505,698 |
44,062,036 |
|
- Goodwill |
1,366,698 |
1,373,707 |
1,366,853 |
1,374,060 |
|
- Long-term prepaid lease |
777,939 |
755,237 |
766,349 |
750,472 |
|
- Long-term prepaid Licenses |
233,106 |
266,027 |
331,868 |
397,708 |
|
- Long-term advances |
59,477 |
40,994 |
161,649 |
213,975 |
|
- Long-term prepaid pension |
87,499 |
88,845 |
103,181 |
111,344 |
|
- Long-term receivables |
15,675 |
17,959 |
20,677 |
45,911 |
|
- Other non-current financial assets |
1,374,350 |
1,543,140 |
212,270 |
150,604 |
|
- Other non-current assets |
826,299 |
754,498 |
872,436 |
659,998 |
|
Total Current Assets |
47,225,359 |
46,916,251 |
47,465,447 |
47,869,188 |
|
TOTAL
ASSETS = TOTAL LIABILITIES & EQUITY |
53,623,585 |
55,225,061 |
53,233,012 |
53,325,128 |
|
LIABILITIES
AND EQUITY |
|
|
|
|
|
a.
Short-term Liabilities |
|
|
|
|
|
- Short-term loans |
949,689 |
299,529 |
1,499,256 |
-- |
|
- Trade payable |
|
|
|
|
|
* Related parties |
89,296 |
22,650 |
23,581 |
22,260 |
|
* Third parties |
325,494 |
209,087 |
295,477 |
623,245 |
|
- Provision payable |
2,755,581 |
2,737,850 |
3,475,862 |
3,642,002 |
|
- Taxes payable |
80,615 |
95,599 |
91,206 |
172,512 |
|
- Accrual |
1,982,576 |
1,961,285 |
1,895,613 |
1,796,335 |
|
- Unearned income |
1,331,146 |
1,073,088 |
1,032,415 |
1,106,610 |
|
- Customer advances |
41,785 |
43,825 |
37,265 |
50,279 |
|
- Derivative liabilities |
40,759 |
81,241 |
138,189 |
215,403 |
|
- Short-term portion of long-term
liabilities |
2,186,802 |
2,669,218 |
3,300,537 |
3,184,147 |
|
- Bonds payable |
1,628,120 |
1,329,175 |
41,989 |
1,098,131 |
|
- Other short-term financial liabilities |
510,192 |
289,164 |
71,828 |
52,413 |
|
- Other short-term liabilities |
214,335 |
204,404 |
64,849 |
61,612 |
|
Total Short-term Liabilities |
12,136,390 |
11,015,751 |
11,968,067 |
12,024,949 |
|
|
|
|
|
|
|
b.
Long-term Liabilities |
|
|
|
|
|
- Payable to related parties |
28,744 |
42,789 |
15,480 |
22,099 |
|
- Finance lease liabilities |
3,141,125 |
3,101,910 |
770,081 |
416,587 |
|
- Deferred tab liabilities |
1,584,278 |
1,684,270 |
1,956,352 |
1,792,629 |
|
- Long-term liabilities – net of current maturities |
2,999,161 |
3,703,822 |
6,425,779 |
7,666,804 |
|
- Bonds payable – not of current
maturities |
12,535,473 |
13,986,507 |
12,138,353 |
12,114,104 |
|
- Post employment benefit obligation |
1,025,652 |
926,224 |
787,313 |
872,407 |
|
- Other long-term financial liabilities |
55,268 |
69,273 |
107,433 |
45,815 |
|
- Other long-term liabilities |
1,245,283 |
1,299,131 |
95,054 |
114,360 |
|
Total Long-term Liabilities |
22,614,984 |
24,813,926 |
22,295,845 |
23,044,805 |
|
|
|
|
|
|
|
c. Equity |
|
|
|
|
|
- Capital stock and share capital |
543,393 |
543,393 |
543,393 |
543,393 |
|
- Additional paid-in capital |
1,546,587 |
1,546,587 |
1,546,587 |
1,546,587 |
|
- Retained earning |
|
|
|
|
|
* Appropriated |
134,446 |
134,446 |
134,446 |
134,446 |
|
* Un-appropriated |
15,427,988 |
15,846,721 |
15,889,104 |
15,244,044 |
|
- Difference in equity transaction |
404,104 |
404,104 |
404,104 |
404,104 |
|
- Foreign currency translation adjustments |
(3,941) |
(3,600) |
(2,326) |
(2,727) |
|
- Change in fair value of investments |
269,805 |
389,718 |
-- |
-- |
|
- Non-controlling interests |
549,829 |
534,015 |
453,792 |
385,527 |
|
Total Equity |
18,872,211 |
19,395,384 |
18,969,100 |
18,255,374 |
|
|
|
|
|
|
|
STATEMENT
OF INCOME |
|
|
|
|
|
- Revenues |
|
|
|
|
|
* Cellular phone |
9,571,785 |
18,489,329 |
16,587,385 |
16,027,062 |
|
* Multimedia, Data Communication, Internet (MIDI) |
1,599,958 |
2,908,033 |
2,691,925 |
2,476,276 |
|
* Fixed Telecommunication |
536,316 |
1,021,450 |
1,249,982 |
1,293,177 |
|
- Total Revenues |
11,708,059 |
22,418,812 |
20,529,292 |
19,796,515 |
|
- Total Operating expenses |
(10,514,132) |
(19,228,789) |
(17,364,983) |
(16,355,165) |
|
- Operating Profit |
1,193,927 |
3,190,023 |
3,164,309 |
3,441,350 |
|
- Other income (expenses) |
(1,403,681) |
(2,728,405) |
(1,832,952) |
(2,359,533) |
|
- Profit Before Tax |
(209,754) |
461,618 |
1,331,357 |
1,081,817 |
|
- Tax benefit (expenses) |
40,534 |
25,798 |
(264,613) |
(357,798) |
|
-
Net Profit (Loss) |
(169,220) |
487,416 |
1,066,744 |
724,019 |
Remarks: 31 December 2010, 2011 and 2012 audited by
Purwantono, Suherman & Surya (Ernst & Young Global)
30
June 2013 un-audited
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.