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Report Date : |
08.11.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. SAUDARA TATA AGROBISNIS |
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Registered Office : |
Jl. Kayu Besar Vila Block D3 No. 17-19, (Jl. Tegal Alur Bok D-3 No.17-19) Tegal Alur,
Kalideres, Jakarta 11730 |
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Country : |
Indonesia |
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Date of Incorporation : |
25.05.1998 |
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Com. Reg. No.: |
No. AHU-16126.AH.01.02.Tahun 2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Import and Distribution of Agricultural Products |
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No. of Employees : |
12 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
|
Source
: CIA |
Correct Name of Company
:
P.T. SAUDARA TATA
AGROBISNIS
Address :
Head Office
Jl. Kayu Besar Vila Block D3 No. 17-19
(Jl. Tegal Alur Bok D-3
No.17-19)
Tegal Alur, Kalideres
Jakarta 11730
Indonesia
Phones - (62-21) 559 2127
Cellular Phone - (62-815) 8159619
(owned by Mr. Michael)
Fax. - (62-21) 6695141
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Owned
Date of
Incorporation :
25 May 1998
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No.
C-4541.HT.01.01.TH.99
Dated 17 March 1999
b. No.
AHU-16126.AH.01.02.Tahun 2013
Dated 28 March 2013
Company Status :
National Private Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. 1.806.678.7-034
Related/Affiliated
Company :
None
Capital Structure
:
Authorized Capital -
Rp. 2,400,000,000.-
Issued Capital -
Rp. 2,400,000,000.-
Paid up Capital -
Rp. 2,400,000,000.-
Shareholders/Owners
:
a. Mr. Boymin Ng - Rp
1,200,000,000.- (50%)
Address : Jl. Pluit Barat II
No. 39
Kel. Pluit, Kec. Penjaringan
Jakarta Utara
b. Mrs. Tjuliani Wartono - Rp 1,080,000,000.- (45%)
Address : Jl. Pluit Barat II
No. 39
Kel. Pluit, Kec. Penjaringan
Jakarta Utara
c. Mr. Michael
Fandy - Rp 120,000,000.- ( 5%)
Address : Jl. Pluit Barat II
No. 39
Kel. Pluit, Kec. Penjaringan
Jakarta Utara
Lines of Business
:
Trading, Export-Import and Distribution of Agricultural Products
Production
Capacity :
None
Total Investment :
a. Owned Capital - Rp.
2.4 billion
b. Loan Capital - -- billion
c. Total Investment - Rp. 2.4 billion
Started Operation
:
1999
Brand Name :
None
Technical
Assistance :
None
Number of Employee
:
12 persons
Marketing Area :
Domestic (Local) - 100%
Main Customers :
Traditional markets in Jakarta and its surroundings
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI SAMPOERNO
d. C.V. PUTRA NUSA
e. C.V. SUMBER BUMI JAYA
f. C.V. ARSAM PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Pluit Mega Mal Branch
Jl. Pluit Permai Raya No.60
Jakarta Utara
b. P.T. Bank EKONOMI Tbk
Jl. Utara Raya Blok B No.57 A-B
Kalideres, Cengkareng
Jakarta Barat
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2010 – Rp. 29.0 billion
2011 – Rp. 33.0 billion
2012 – Rp. 38.0 billion
2013 – Rp. 21.0 billion (January – June)
Net Profit (Loss)
:
2010 – Rp. 1.8 billion
2011 – Rp. 2.1 billion
2012 – Rp. 2.4 billion
2013 – Rp. 1.3 billion (January – June)
Payment Manner :
Average
Financial Comments
:
Satisfactory
Board of Management :
President Director - Mr. Michael Fandy
Director - Mrs. Tjuliani Wartono
Board of Commissioners :
Commissioner -
Mr. Boymin Ng
Signatories :
President Director (Mr. Michael Fandy)
or Director (Mrs. Tjuliani Wartono) which must be approved by Board of
Commissioner (Mr. Boymin Ng)
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. SAUDARA TATA AGROBISNIS (P.T. STA) was established in Jakarta based
on Notary Deed of Notary Raden Johanes Sarwono, SH., No. 15 dated 29 May 1998 with
an authorized capital of Rp. 200,000,000.- entirely was issued and fully paid
up. The founding shareholders are Mr.
Sandi Wartono (5%), Mrs. Tjuliani Wartono (45%) and Mr. Boymin Ng (50%). They
are Indonesian businessmen/woman of Chinese extraction. The Articles of Association was approved by
the Ministry of Law and Human Rights through its Decision Letter No.
C-4541.HT.01.01.Th. 99 dated 17 March 1999.
The
articles of association of the company have frequently been changed, most
recently by notarial Deed of Notary Fitri Ani, SH., No. 52 dated 25 February
2013, the authorized capital was raised to Rp 2,400,000,000.- entirely was
issued and fully paid up. Concurrently,
Mr. Sandi Wartono pulled out and the whole shares are sold to Mr. Michael Fandy
as a new shareholder. The amendment to deed has been approved by the
Minister of Law and Human Rights of the Republic of Indonesia through its
Decree No. AHU-16126.AH.01.02.Tahun 2013 dated 28 March 2013.
P.T. STA has been in operation since mid-1999 in trading, export-import and
distribution of agricultural products.
Mr. Michael Fandy, the owner of the company explained that the whole
agricultural products likes pepper, nutmeg, clove, cashew nut and sesame seed
bought from farmer in Sumatra, Sulawesi, Java and others island of
Indonesia. Then, the whole products are
exported to the United States of America and Europe Union. Besides, the company also imported of garlic,
shallot, onion, peanut from China, India and Thailand. The whole products
supplied to snack food industries and traditional market in Jakarta, Bekasi and
Tangerang. They also directly supplied
of snack food industries and other food industries in Jakarta and its
surroundings. We observed that P.T. STA
is classified as a small-sized company of its kind in the country of which the
operation has been growing in the last three years.
We have noticed that the demand for agricultural products had increased some 8%
to 10% 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. STA to be in a quite favorable
position for having already got hold of a steady clientele in Jakarta, Bekasi
and Tangerang.
Until this time P.T. STA has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
We observed that total sales turnover of the company in 2010 amounted of Rp.
29.0 billion increased to Rp. 33.0 billion in 2011 and rose again to Rp. 38.0
billion in 2012. The operation in 2012
yielded an estimated net profit at least Rp. 2.4 billion and the company has an
estimated total networth at Rp. 10.0 billion.
It is forecasted that total sales turnover of the company will increase
at least 8% in 2013. The Based on information obtained from some customers, the
payment habit of the company is smooth ranging from 1 to 3 months. So far, we did not heard that the
company having been black listed by the Central Bank (Bank Indonesia).
The management of the company has been led by Mr. Michael Fandy (29), a
young businessman who experienced for more than 5 years in the field of
trading, import and distribution of agricultural products. He is a son of Mrs. Tjuliani Wartono (58) and
Mr. Boymin Ng (57). But, we believe that
the prime-mover of the company is his parents.
The management, which is evaluated quite creative and dynamic and they are
quite capable of further developing business in the future. They have close
relations with private businessmen within and outside the country. So far, we
did not hear that the company’s management involved in the business
malpractices 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. SAUDARA TATA AGROBISNIS is appraised good for business transaction.
But owing to 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.57 |
|
|
1 |
Rs.100.62 |
|
Euro |
1 |
Rs.84.62 |
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 |
|
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.