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Report Date : |
06.11.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. PRIMA SEJATI
MAKMUR |
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Registered Office : |
Jalan Mangga Besar IV A No. 12 Kelurahan Tamansari, Kecamatan
Tamansari |
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Country : |
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Date of Incorporation : |
03.08.2010 |
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Com. Reg. No.: |
No. AHU-44419.AH.01.01.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Import and Distribution of Marble and Granite |
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No. of Employees : |
27 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 – 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 |
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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 |
|
Source
: CIA |
Name of Company :
P.T. PRIMA SEJATI MAKMUR
Address :
Head Office &
Showroom
Jalan Mangga Besar IV A No. 12
Kelurahan Tamansari, Kecamatan Tamansari
Jakarta Barat, 11150
Indonesia
Phones -
(62-21) 6293496 (Hunting)
Fax - (62-21) 6230 4841
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Factory &
Warehouse
Jalan Raya padalarang
Bandung, West Java
Indonesia
Land Area - 5,000 sq.
meters
Building Space - 1,200 sq. meters
Region - Industrial
Zone
Status - Rent
Date of
Incorporation :
3 August 2010
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
No. AHU-44419.AH.01.01.2010
Dated 16 September 2010
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 02.861.178.8-032.000
Related Company :
P.T. PRIMA SETYAMAKMUR (Design, Interior and Contracting Services)
Capital Structure :
Authorized Capital : Rp.
1,000,000,000.-
Issued Capital : Rp.
1,000,000,000.-
Paid up Capital : Rp.
1,000,000,000.-
Shareholders/Owners :
a. Mr. Hendrik Setiawan NA -
Rp. 500,000,000.-
Address : Apartemen Pesona Bahari Lantai P1A
Kelurahan Mangga Dua
Selatan, Kecamatan
Mangga Dua, Jakarta Pusat
Indonesia
b. Mr. Gandawidjaja Hakadinata -
Rp. 500,000,000.-
Address : Jl. Mangga
Besar IV A/14, RT. 005 RW. 001
Kelurahan Tamansari, Kecamatan Tamansari
Jakarta Pusat
Indonesia
Lines of Business :
Trading, Import and Distribution of Marble and Granite
Production Capacity :
None
Total Investment :
Owned Capital - Rp. 2.5 billion
Started Operation :
2011
Brand Name :
Prima Sejati Makmur
Technical Assistance :
None
Number of Employee :
27 persons
Marketing Area :
Local - 100%
Main Customer :
Building Contracting, Property and Real Estate
Market Situation :
Very Competitive
Main Competitors :
a. P.T. PUSAKA MARMER INDAHRAYA
b. P.T. PRIMASETYA MAKMUR
c. P.T. MULTI MARMER ALAM
d. P.T. INTINUSA SELAREKSA Tbk
e. Etc.
Business Trend :
Growing
Banker :
P.T. Bank CENTRAL ASIA Tbk
Komplek Agung Sedayu Block C No. 11
Jalan Mangga Dua Raya
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 23.4 billion
2012 – Rp. 25.0 billion
2013 – Rp. 13.0 billion (January – June)
Net Profit (estimated) :
2011 – Rp. 1.4 billion
2012 – Rp. 1.5 billion
2013 – Rp. 0.8 billion (January – June)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Hendrik Setiawan Na
Director - Mr. Gandawidjaja Hakadinata
Board of Commissioners :
Commissioner - Mrs. Susie Woen
Signatories :
President Director (Mr. Hendrik
Setiawan Na) or the Director (Mr. Gandawidjaja Hakadinata) which must be
approved by Board of Commissioner
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. PRIMA SEJATI MAKMUR (P.T. PSM) was incorporated in Jakarta based on
notary deed of Mrs. Esther Setiawati Santoso, SH., No. 02 dated 3 August 2010
with the authorized capital of Rp. 1,000,000,000 wholly issued and paid up. The
founding and shareholders of the company are Mr. Hendrik Setiawan Na (50%) and
Mr. Gandawidjaja Hakadinata (50%), both are Indonesian businessmen of Chinese
extraction. The notary deed of incorporation was approved by the Ministry of
Law and Human Rights in its decision letter No. AHU-44419.AH.01.01.TH.2010 dated
September 16, 2010.
We observe that Mr. Hendrik Setiawan Na is also business stakes owner of
P.T. PRIMA SETYAMAKMUR engaged in design interior and contracting services.
P.T. PSM is a national private company started to be operating since 2011
engaged in the filed of marble and granite trading and processing. The company
manages a warehousing and factory located at Jalan Raya Padalarang, Bandung,
West Java standing on 5,000 sq. meters land. The company imported of marble and
granite stone in the form of slabs from India, China, Italy, Spain with the
best and good quality marble and granite stone. Besides, the company is also
uses and obtained granite stone and marble stone from Tulung Agung, East Java,
Bandung, West Java and Makassar, South Sulawesi. Then, the whole marble slabs
and granite slabs is cutting and processing in their warehouse, Bandung, West
Java. The company has a complete set of advanced processing equipment, such as
block cutter machines, automatic polishing processing lines and slabs, Denyo
saw machines with 200 blades & special craft machines tumble, borders and
irregular shaped processing equipment from Japan. The whole products marketed
locally to various distributors and trader of marble and granite stones in
Jakarta, Bandung, Semarang, and surroundings. Mr. Gandawidjaja Hakadinata,
Director of the company said most of the products marketed and supplied to
various building contracting, real estate, design interior, and other
high-class housing in Jakarta and surroundings. We observe the operation of
P.T. PSM has been growing in the last two years.
Thus, utilization of industrial ceramic production
in the country could be maximized. Indonesian Ceramic Industry Association
(Asaki) estimated production of ceramics by the end of 2012 reached 330 million
square meters, up 10% over last year's realization of 300 million square meters
thanks to the improving macro-economic conditions nationwide. For this year,
the national ceramics production can penetrate 330 million square meters, an
increase of 10% due to improved macroeconomic nationwide. This is impacting on
the growing purchasing power. Improved macro-economic conditions nationwide,
according to Elisa (Asaki) makes the construction of both residential property
and office continues to grow, contribute to a ceramics manufacturer in the
country to increase production capacity. The increase in production capacity of
ceramic is also supported by the additional supply of gas because the gas
supply increasingly filled the ceramic industry can produce optimal.
Production Capacity and Export Value of National Ceramic Industry, 2008 –
2012
|
Year |
Production (Million Sq.
Meters) |
Export (Thousand
US$) |
|
2008 |
264.0 |
33,614.4 |
|
2009 |
281.9 |
29,087.0 |
|
2010 |
327.0 |
22,824.3 |
|
2011 |
300.0 |
17,204.2 |
|
2012 |
330.0 |
18,924.6 |
Source: Department of Industry and Trade (Processed by ICB)
Until this time P.T. PSM has not been registered with Indonesian Stock Exchange,
so that they had 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 2011 amounted to Rp. 23.4 billion rose to Rp. 25.0 billion in 2012.
As from January to June 2013 the sales turnover has amounted at Rp. 13.0
billion with a net profit of Rp. 0.8 billion. It is projected the company’s
sales will be rising by at least 6% in 2014. The company has an estimated total
networth of at least Rp. 3.0 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. PSM is led by Mr. Hendrik Setiawan Na (48) a
businessman with experience in trading, import and distribution of marble and
granite. Daily activity he is assisted by Mr. Gandawidjaja Hakadinata (44) 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. PRIMA SEJATI MAKMUR
is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.83.42 |
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 |
|
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NB |
New Business |
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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.