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Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. ARTISAN
WAHYU |
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Registered Office : |
Jl. Sultan Iskandar Muda, Kebayoran Baru, |
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Country : |
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Date of Incorporation : |
22.01.2003 |
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Com. Reg. No.: |
No. AHU-AH.01.10-27467 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Property Developer of |
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No. of Employees : |
120 persons |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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. ARTISAN WAHYU
Address :
Head Office
Jl. Sultan Iskandar Muda
Kebayoran Baru
Jakarta Selatan 12240
Indonesia
Phones -
(62-21) 2905 2888 (hunting)
Fax - (62-21) 7205 2988
Email - customercare@gandariacity.co.id
Building Area - 4 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
22 January 2003
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. C-04808.HT.01.04.TH.2003
Dated 10
March 2003
b. No.
AHU-39311.AH.01.02.Tahun 2009
Dated 13 August
2009
c. No. AHU-AH.01.10-27467
Dated 26
July 2012
Company Status :
Foreign Investment Company (PMA)
Permit by the Government Department :
The Department of
Finance
NPWP No. 01.070.808.9-058.000
Related/Affiliated Company :
A member of the PAKUWON JATI Group
Capital Structure :
Authorized Capital - Rp.
213,600,000,000.-
Issued Capital - Rp.
205,056,000,000.-
Paid up Capital - Rp.
205,056,000,000.-
Shareholders/Owners :
a. P.T. PAKUWON JATI
Tbk. - Rp 170,880,000,000.-
(83.33%)
Address : Menara Mandiri, 15th Floor
Jl. Basuki Rachmat No. 8
Surabaya, East Java
Indonesia
b. DAKARAI INVESTMENTS
S.L. - Rp 34,176,000,000.- (16.67%)
Address : Paseo De
Gracia, 103 First Floor
Barcelona,
Spain
Lines of Business :
Property Developer of Gandaria City
Production Capacity :
GANDARIA CITY (Gandaria City Retail Mall, Gandaria Heights, GandaRia 8
Office Tower, and Gandaria Hotel)
Total Assets :
As of 30 Sept. 2013 - Rp. 1,812.0 billion
Started Operation :
January 2010
Brand Name :
Gandaria City Retail Mall
Technical Assistance :
None
Number of Employee :
120 persons
Marketing Area :
Domestic 100%
Main Customers:
Corporate and Individuals
Market Situation :
Very Competitive
Main Competitors :
a. PT. Duta Anggada Realty
b. PT. Agung Sedayu
c. PT. Metropoitan Kencana
d. PT. Ciputra Deveopment
e. PT. Summarecon Agung
f. PT. Dharmala Sakti Reaty
g. PT. Sentul City Tbk.
Business Trend :
Growing
Bankers :
a. P.T. Bank Danamon
Indonesia Tbk
Menara Bank Danamon
Jl. Prof. Dr. Satrio Kav. E4 No. 6
Jakarta Selatan
Indonesia
b. P.T. Bank CIMB Niaga Tbk
CIMB Niaga Building
Jl. Jend. Sudirman Kav. 58
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Revenues (estimated) :
2010 Rp. 431.1 billion
2011 Rp. 435.0 billion
2012 Rp. 499.4 billion
2013 Rp. 463.6 billion (as of 30 Sept. 2013)
Net Profit (estimated) :
2010 Rp. 111.0 billion
2011 Rp. 110.3 billion
2012 Rp. 176.8 billion
2013 Rp. 178.9 billion (as of 30 Sept. 2013)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Alexander Tedja
Vice President Directors - Mr. Alexander Stefanus Ridwan Suhendra
Director - Mr. Eiffel Tedja
Board of Commissioners :
President Commissioner - Mr. Richard Adisastra
Commissioners - a. Mr. Koh Kian Tee
b. Mr. Saibun Widjaja
c.
Mr. Gerard Garcia Gassu Rovira
Signatories :
President Director (Mr. Alexander
Tedja) or Vice President Director (Mr. Alexander Stefanus Ridwan Suhendra or
Director (Mr. Eiffel Tedja Tedja) which must be approved by Board of
Commissioners
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below average
Credit Recommendation :
Credit can be proceeded normally
Proposed Credit Limit :
Moderate amount
P.T. ARTISAN WAHYU was established in Jakarta on January 22, 2003 with
an authorized capital of Rp. 34,176,000,000.- entirely was issued and fully
paid up. The founding shareholders of
the company are PT. Patriawira Wisesa of Indonesia (5%) and Babbington
Development Ltd., of Hong Kong (95%).
The articles of association of the company have frequently been
revised. In August 2009, the founding
shareholders pulled out and the whole shares are sold to PT. Pakuwon Jati Tbk.,
of Indonesia (83.33% and Dakarai Investments S.L., of Spain (16.67%). The
amendment to Deed was approved by the Minister of Law and Human Rights through
its Decision Letter No. AHU-39311.AH.01.02.Tahun 2009 dated August 13,
2009. Most recently by notarial deed of
notary Mrs. Ester Mercia Sulaiman, SH., No. 51 dated June 29, 2012 the
authorized capital was raised to Rp. 213,600,000,000.- of which Rp.
205,056,000,000.- was issued and fully paid up. The amendment to Article of Association has been approved by the Minister
of Law and Human Rights of the Republic of Indonesia through Decree No.
AHU-AH.01.10-27467 dated July 26, 2012. P.T. ARTISAN WAHYU
is a member company of the PAKUWON Group, a large-sized company group focusing
its business in property management and developments.
P.T. ARTISAN WAHYU (PT. AW) has been in commercial operating since early
2010 dealing with property management and development. The company is the owner and property
developer of GANDARIA CITY (Gandaria City Retail Mall, Gandaria Heights,
GandaRia 8 Office Tower, and Gandaria Hotel). For full details see table below:
SUPERBLOCK
GANDARIA CITY
Gandaria City
Retail Mall
Gandaria City is the largest
retail mall in
Another unique attraction to Gandaria City is its impressive 600
meters-long double storey indoor and alfresco dining street called Main Street.
Complete with trendy restaurants, bistros, lounges, cafes, dessert havens and
entertainment centers, Main Street is an alluring destination for families and
the growing young population. Designed by Genius Loci, a renowned interior
design company with offices in Singapore, Shanghai and Jakarta, Main Street's
thematic concept reflects all the distinct architectural features of Batavia
(old Jakarta) on one end and New York's Time Square on the other. The
environment in Main Street is further enhanced with the Piazza, an outdoor
stage and architecturally lanscaped garden that serves as a venue for events
and performances.
Designed by Cadiz International, an internationally acclaimed architect
whose portfolio includes vibrant and exciting shopping centers in Dubai,
Manila, China and the USA, Gandaria City fuses modern contemporary style with a
themed interior. The retail mall is the center of Superblock Gandaria City and
is directly accessible from the GandaRia 8 office tower, Gandaria Heights
condominium and the five-star hotel.
Gandaria Heights
Gandaria Heights' impressive grand double storey lobby entrance reflects
a classic Hollywood glamour style that exudes luxury.
Residents of Gandaria Heights have the convenience of being connected to
Gandaria City retail mall as well as enjoying the comfort of quality living
within the city center. Residents are provided with a wide array of facilities
including a tennis court, a children's playground, a special feature infinity
pool, a fitness center, jogging track and multi-function room. Visiting friends
and families also have the benefit of staying in Superblock Gandaria City's
5-star hotel.
Gandaria Heigths can be accessed from the both main lobby and car park.
For added security tow car park levels have also been allocated solely for
residents and can only be entered by using an access card.
GandaRia 8 Office
Tower
GandaRia 8 is a modern 32 storey office building occupying a gross
floor area of 83,113 square meters. It is the first Green
Mark certified building in
In today's congested Jakarta, daily commuting consumes a significant
amount of valuable time. Just imagine the hours that could be saved by
conveniently living next door to the office! The shopping mall, condominium and
office tower are all directly connected. Being established in GandaRia 8 not
only implies prime location and peerless business facilities, it offers a
perfect synergy between work-live-play.
At GandaRia 8 the highest level of building security is achieved by
implementing optical turnstile entrance control in the lobby. Arriving from the
parking levels or drop-off zone, one has to pass the turnstiles to enter the
lift lobby. Tenants and guests are provided with a permanent access card that
ensures undisturbed fast and convenient access.
Gandaria Hotel
The 5-star internationally operated Gandaria Hotel is designed
with timeless grace and style. The hotel offers a full range of quality
facilities, which will include a fitness center, a swimming pool and business
center, among others. Gandaria Hotel will also house one of the largest ballroom
facilities in South Jakarta. Guests of the planned 300 room Gandaria Hotel
will have convenient direct access to Gandaria City retail mall through
the coffee shop on the first level.
Gandaria Hotel enjoys high visibility from Jalan Arteri Pondok Indah,
the main thoroughfare connecting northwest and south Jakarta.
Until this time P.T. ARTISAN WAHYU (P.T. AW) has not been registered
with Indonesian Stock Exchange, so that they shall not obliged to announce
their financial statement. We estimated
that total income/revenues of the company in 2010 amounted to Rp. 431.1 billion
increased to Rp. 435.0 billion in 2011 to Rp 499.4 billion in 2012 and Rp 463.6
billion as of 30 September 2013. As of
30 September 2013, the company has a total asset of Rp 1,812.0 billion. So far we have never heard that the company
registered with the black list of Bank of Indonesia (Central Bank) or involved
in the civil case that settled through the local court.
P.T. AW is a member company of the PAKUWON Group, a large-sized company
group focusing its business in property management and developments. Parent
Company of the PAKUWON Group is P.T. PAKUWON JATI Tbk., a public listed
company. According to the financial
statement of the company having been audited by registered public accountant
(Osman Bing Satrio & Eny, a member Deloitte), the total income/revenues of
P.T. PAKUWON JATI Tbk in 2010 amounted to Rp. 1,228.0 billion with a net profit
of Rp. 316.5 billion increasing to Rp. 1,478.1 billion with a net profit of Rp.
378.5 billion in 2011 and rose again to Rp. 2,165.4 billion with a net profit
of Rp. 766.5 billion in 2012. As per 30
September 2013, it is total income/revenues was Rp. 2,315.1 billion with a net
profit of Rp. 893.7 billion. So far we
did not hear that the P.T. PAKUWON JATI Tbk., has been black listed by Bank
Indonesia (Central Bank).
Pursuant to the latest notary deed of the company, the management of
P.T. PAN is headed by Mr. Alexander Tedja (68) as Director and Mrs. Helena
Melinda Sujotomo (59) as Commissioner.
Mr. Tedja has wide relations with private businessmen within and outside
the country and with the government sector. So far we have never heard that the
board of director and commissioner of the company involved in business
malpractices or detrimental cases that settled through the court. Their litigation record is clean and they
have never involved in civil or criminal cases or politics in the country. Both
are not in bankruptcy condition as their business is running well.
P.T. ARTISAN WAHYU is appraised to be good for business
transaction. However, in view of the
economic condition in the country is still unstable, we recommend to treat
prudently in extending any new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.6192 |
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|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 |
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<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 SCs 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.