|
Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. MATAHARI PUTRA PRIMA TBK |
|
|
|
|
Formerly Known As : |
P.T. MATAHARI PUTRA PRIMA |
|
|
|
|
Registered Office : |
Menara Matahari, 17th
& 20th Floor, Jalan Boulevard Palem Raya No. 7, Lippo Village, Kacawaci, Tangerang, 15811 , Banten
Province |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
11.03.1986 |
|
|
|
|
Com. Reg. No.: |
No. AHU-58827.AH.01.02.TH.2012 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
a. Hypermarket and
Convenience Stores Management b. Investment Holding |
|
|
|
|
No. of Employees : |
7,943 persons |
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) |
|
|
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.
MATAHARI PUTRA PRIMA Tbk
Address :
Head Office
Menara Matahari, 17th
& 20th Floor
Jalan Boulevard Palem Raya No. 7
Lippo Village, Kacawaci
Tangerang, 15811
Banten Province
Indonesia
Phones -
(62-21) 546 9333, 547 5333
Fax - (62-21) 547 5673
E-mail - info@matahari.co.id
Website - http://www.mataharigroup.co.id
Building Area - 20 storey
Office Space - 400 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
a. 11 March 1986 as P.T.
MATAHARI PUTRA PRIMA
b. 23 June 1997 as P.T. MATAHARI PUTRA PRIMA Tbk
Legal Form :
P.T. Tbk (Perseroan Terbatas Terbuka) or Public
Listed Company
Company Reg. No. :
The Ministry of
Law and Human Rights
- No.
C2-5238.HT.01.01.TH.86
Dated 26 July 1986
- No.
AHU-58827.AH.01.02.TH.2012
Dated 26 November 2012
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 01.394.013.5-054.000
The Department of
Industry and Trade
SIUP No. 569/1418/09-01/PB/IV/91/1
Dated 11 April 2004
The Capital Market
Supervisory Agency
No. S-1068/PM/2004
Dated 28 April 2004
Related Company :
A Member of the MATAHARI Group
Capital Structure :
Authorized Capital : Rp. 5,400,000,000,000.-
Issued Capital : Rp. 2,788,273,400,000.-
Paid up Capital : Rp. 2,788,273,400,000.-
Shareholders/Owners :
a. P.T. MULTIPOLAR Tbk -
Rp. 1,350,695,554,000.-
b. P.T. STAR PACIFIC Tbk -
Rp.
169,209,812,500.-
c. Public below each 5% -
Rp. 1,169,076,033,500.-
d. Treasury Shares - Rp. 99,292,000,000.-
Lines of Business :
a. Hypermarket and
Convenience Stores Management
b. Investment Holding
Production Capacity :
a. Hypermarket (Hypermart) -
80 units
b. Convenience Stores (Foodmart) -
29 units
c. Convenience Stores
(Boston Foodmart Express) - 78 units
d. Timezone -
98 units
Total Investment :
Owned Capital - Rp. 5,400.0 billion
Started Operation :
1986
Brand Name :
Matahari Putra Prima
Technical Assistance :
None
Number of Employee :
7,943 persons
Marketing Area :
Local - 100%
Main Customer :
End user (individuals)
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CARREFOUR INDONESIA
b. P.T. LION SUPERINDO
c. P.T. LOTTEMART WHOLESALE
d. P.T. RAMAYANA LESTARI SENTOSA Tbk
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CIMB NIAGA Tbk
Jalan Diponegoro Raya 101
Lippo Karawaci, Tangerang
Banten Province
Indonesia
b. P.T. Bank MEGA Tbk
Menara Bank Mega 15th Floor
Jalan Kapten Tendean
12-14A
Jakarta
Selatan
Indonesia
c. P.T. Bank MANDIRI Tbk
Plaza Mandiri
Jalan
Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
d. P.T.
Bank NATIONALNOBU
Nobu
Center
Plaza
Semanggi
Jalan
Jend. Sudirman Kav. 50
Jakarta
Selatan
Indonesia
Auditor :
RSM AAJ (Aryanto, Amir Jusuf, Mawar & Saptoto)
Litigation :
No litigation record in our database
Annual Sales :
2010 – Rp.
8,163.9 billion
2011 – Rp.
8,908.6 billion
2012 – Rp. 10,868.2 billion
2013 – Rp.
5,446.7 billion (as per 30 June)
Net Profit :
2010 – Rp. 5,800.6 billion
2011 – Rp.
120.3 billion
2012 – Rp.
239.5 billion
2013 – Rp.
221.8 billion (as per 30 June)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Bunjamin Jonathan Mailool
Directors -
a. Mr. Carmelito Jimenez Regalado
b. Mr. Richard
H. Setiadi
c. Mr. R. Soeparmadi
d. Mrs. Lina Haryanti Latif
Board of Commissioners :
President Commissioner - Mr. Drs. Theo Leo Sambuaga
Commissioners - a. Mr. Jonathan Limbong
Parapak
b. Prof. DR. Adrianus
Mooy
c.
Mr. John Bellis
d. Mr. Ganesh Chander Grover
e.
Mr. Jeffrey Koes Wonsono
Signatories :
President Director (Mr. Bunjamin Jonathan Mailool) or one
of the Directors (Mr. Carmelito Jimenez Regalado, Mr. Richard H. Setiadi,
Mr. R. Soeparmadi or Mrs. Lina
Haryanti Latif) 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
Maximum Credit Limit :
US$ 2,500,000 on 90 days D/A
Originally name P.T. MATAHARI PUTRA PRIMA was established in Jakarta on
30 March 1986 in Jakarta with an authorized capital of Rp.
1,000,000,000 of which Rp. 200,000,000 was issued and
paid up. The founding shareholders of the company originally are Mr. Hari Darmawan and his daughter
Miss Susana Darmawan, an Indonesian business family
of Chinese extraction. In May 1991 two sister companies, P.T. MATAHARI SETIA
DHARMA and P.T. MATAHARI AGUNG PERDANA were merged into P.T. MATAHARI PUTRA
PRIMA. In July 1991 another sister company, P.T. MATAHARIJAYA PUTRAPERKASA,
joined in as a shareholder, and in November 1992 P.T. MATAHARI PUTRA PRIMA went
public, selling part of its shares to the public through the Indonesia Stock
Exchange. In January 1997 P.T. MULTIPOLAR Tk
purchased the majority shares of P.T. MATAHARIJAYA PUTRAPERJASA. In June 1997
the company's name was modified to P.T. MATAHARI PUTRA PRIMA Tbk., (P.T. MPP) indicating it as a publicly listed
company. Later in October 1997 P.T. MPP's authorized
capital was increased to Rp. 5,400,000,000,000 with
the issued and paid up capital amounting to Rp.
1,352,997,000,000. In September 2007, the issued capital of the company was
increased to Rp. 2,355,961,000,000 which entirely
paid up.
Then according to the latest revision of notary deed Mr. Nanette Cahyanie Handari, SH., No. 01
dated 1 October 2012 the company issued capital was increased to Rp. 2,788,273,400,000 entirely paid up. With this
development the composition of its shareholders has been changed to become P.T.
MULTIPOLAR Tbk (50.2308%), P.T. STAR PACIFIC Tbk (6.2927%), Publics (43.4765%), Treasury Stock
(0.0000%). The deed of amendments was approved by the Ministry of Law and Human
Rights in its decision letter No. AHU-58827.AH.01.02.TH.2012 dated November 26,
2012.
P.T. MPP has been in operation since 1986 in the department store
management business. It has taken over all assets and activities of several
sister companies, namely C.V. MATAHARI DEPARTMENT STORE which had been in
operation since 1972 in department store management, P.T. MATAHARI SETIA DHARMA
in operation since 1984 and P.T. MATAHARI AGUNG PERDANA in operation since
1986. P.T. MPP is controlling 91 outlets spreading in 35 major cities in
Indonesia with a total floor space of 750,000 sq. meters, all known as Matahari Department Store. The goods being sold include
men's/women's and children's clothing, garments, toys, office equipment, etc.
Some 75% of the traded products are home-made and the rest imported. However
since September 2009, the whole assets of Matahari
Department Store had been taken over by sister company P.T. MATAHARI DEPARTMENT
STORE Tbk. Since that time P.T. MATAHARI PUTRA PRIMA Tbk focused in hypermarket management, convenience store
and investment holding.
P.T. MPP engaged and operates in hypermarket namely
HYPERMART of 80 units, convenience store FOODMART of 29 units, FOODMART EXPRESS
(BOSTON) of 78 units and Timezone of 98 units. The
whole hypermarket, convenience store chain that provides various items such as
daily necessities, stationery, books, toys, medicines, clothing, jewelry,
handbags, shoes, cosmetics and electronic equipment; and family entertainment
center known as the Time Zone. In October 2013, the Company operates Timezone through sister company P.T. MATAHARI GRAHA FANTASI
operates 98 units of non-permanent family entertainment centers, P.T. TIMES
PRIMA INDONESIA operates 18 outlets, P.T. PRIMA GERBANG PERSADA operates a
(one) mall Persada and P.T. PRIMA CIPTA LESTARI
operates 8 restaurants and outlets. All shops, family entertainment centers,
malls and restaurants are located in Jakarta and major cities in Indonesia.
Besides, P.T. MPP is also engaged in investment
holding by controlling shares in its subsidiaries below:
P.T. MATAHARI
PUTRA PRIMA Tbk Ownership
|
Name of Company |
Lines of
Business |
Percentage of
Ownership (%) |
|
Direct Ownership |
|
|
|
P.T. MATAHARI SUPER EKONOMI (P.T. MSE) |
Retail (Matahari Super Ekonomi) |
100.00 |
|
MATAHARI INT’L FINANCE COMPANY BV. (MIFCO) |
Finance |
100.00 |
|
P.T. NADYA PUTRA INVESTAMA (P.T. NPI) |
General Trading |
100.00 |
|
P.T. TARAPRIMA REKSABUANA (P.T. TPRB) |
Trading of Mineral Water |
100.00 |
|
P.T. MATAHARI KAFE NUSANTARA (P.T. MKN) |
Restaurant Management |
100.00 |
|
MATAHARI FINANCE BV. (MF) |
Finance |
100.00 |
|
P.T. TIMES PRIMA INDONESIA (P.T. TPI) |
General Trading and Services |
100.00 |
|
P.T. PRIMA CIPTA LESTARI
(P.T. PRIMA) |
Restaurant Management |
100.00 |
|
MATAHARI INT’L BV. (MIBV) |
Finance |
100.00 |
|
P.T. NADYA PRIMA
INDONESIA (P.T. NPRI) |
General Trading |
100.00 |
|
P.T. MATAHARI MEGA TOSERBA (P.T. MMT) |
Retail |
100.00 |
|
P.T. PRIMA BOSTON DRUGSTORE (P.T. PBD) |
Pharmaceutical Products and Dispensary |
100.00 |
|
PRIME CONNECTION LTD. (PCL) |
Investment |
100.00 |
|
BRIGHTER LTD. (BL) |
Investment |
100.00 |
|
P.T. MATAHARI PACIFIC (P.T. MP) |
Trading and Services and Investment |
100.00 |
|
P.T. MATAHARI GRAHA FANTASI (P.T. MGF) |
Family Recreation Center |
50.01 |
|
Indirectly
Ownership |
|
|
|
Matahari Department Store (Shenzhen) Ltd.,(MDS)
through Brighter Ltd. |
Retail |
100.00 |
|
TRISTAR CAPITAL LTD., (Tristar) through P.T. NPI |
Investment |
100.00 |
|
P.T. PRIMA GERBANG PERSADA (P.T. PGP) through P.T. NPI & P.T. MSE |
Agribusiness |
100.00 |
|
BRIGHT REGENT CORP. (BRC), through BL |
Investment |
100.00 |
|
MEMIL INVESTMENT LIMITED (MI) through P.T. NPI |
Investment |
100.00 |
|
Matahari Trading (Shenzen)
Ltd. (MTL) through BL |
General Trading |
100.00 |
|
Grandbright Corp. Ltd. (GCL) through BL |
Investment |
100.00 |
|
P.T. MATAHARI DANA PRIMA (P.T. MDP) through P.T. MDP & P.T. NPI |
Consumer Financing |
100.00 |
|
P.T. MITRA PRIMA KREASI (P.T. MPK) through P.T. NPI |
General Trading |
100.00 |
|
P.T. MENTARI SINAR PERSADA (P.T. MSP) through P.T. NPI & P.T. MP |
General Trading |
100.00 |
|
P.T. PRIMA MENTARI PERSADA (P.T. PMP) through P.T. NPI & P.T. MP |
General Trading |
100.00 |
|
P.T. SURYA PERSADA LESTARI (P.T. SPL) through P.T. PMP and P.T. MP |
General Trading |
100.00 |
|
P.T. SURYA MEGAH LESTARI (P.T. SML) through P.T. PMP & P.T. MP |
General Trading |
100.00 |
|
P.T. SURYA ASRI LESTARI (P.T. SAL) through P.T. PMP & P.T. MP |
General Trading |
100.00 |
|
P.T. SURYA MENARA LESTARI (P.T. SML) through P.T. PMP & P.T. MP |
General Trading |
100.00 |
|
P.T. SURYA PEKALONGAN LESTARI (P.T. SPL) through P.T. PMP & P.T.
MP |
General Trading |
100.00 |
|
P.T. BALARAJA SENTOSA (P.T. BS) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. INDAH TASIKMALAYA PERSADA (P.T.
ITP) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. MAGELANG PERKASA (P.T. Magelang)
through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. PANCA MEGAH UTAMA (P.T. PMU) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. NUSA MALIOBORO INDAH (P.T. NMI) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. MEGA DUTA PERSADA (P.T. Duta) through
P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. CITRA CITO PERKASA (P.T. CCP) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. MENTARI SINGOSAREN (P.T. MS) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. PESONA KLATEN PERSADA (P.T. PKP) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. PERSADA SIMPANG LIMA (P.T. PSL) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. TANJUNG BUNGA (P.T. TBG) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. BINJAI MEGAH LESTARI (P.T. BML) through P.T. MSP & P.T. MP |
General Trading |
100.00 |
|
P.T. MULIA PERSADA PERTIWI (P.T. Mulia)
through P.T. MSP & P.T. MP |
General Trading |
100.00 |
Source: P.T. MATAHARI PUTRA PRIMA Tbk
P.T. MPP has achieved these results
through a combination of aggressive promotions, strategic relationships with
suppliers, customer service, a strong in-stock program, and aggressive loyalty
programs. In the latter half of 2011, for example, MPP replaced their old
loyalty program with the new, more aggressive HiCard.
By the end of 2012 they have collected almost 2 million HiCard
members, who together generate about 40% of the sales. A second strategy is the
rapid rollout of new stores, as mentioned above. P.T. MPP currently operates 80
Hypermarts, almost all of which are located in malls.
With 90 to 140 new malls expected in Indonesia over the next five years, there
is plenty of opportunity for growth.
P.T. MPP has the widest geographic coverage among modern food retailers
with stores in 48 cities and Hypermart will enter 10
new cities in 2013. Stores located in secondary markets face less competition
and are usually able to produce higher profitability than those in relatively
crowded markets, such as Jakarta. A third strategy is to place emphasis on
categories that offer the opportunity to create differentiation and competitive
advantage. This includes areas such as fresh, bakery, bazaar, and softline. P.T. MPP is also looking for ways to take
advantage of attractive B2B opportunities, including working with the
restaurant and hospitality industries.
The emergence of retail business such as mini
markets, super markets, hypermarkets and so is part of a modernization of the
traditional market that allows people to shop with facilities and comfort as
well as good service, in addition to the price of each product is quite
affordable. Changes in business behavior is part of that trend influences the
behavior of markets abroad and then go to Indonesia since the 1990s, marked by
the opening of a large retail company from the land of Japan's " SOGO
", along with that invite a lot of criticism reactions, due to Super
market this attracted many people, which has implications for market
competition, primarily in medium-sized businesses such goods store like that
almost went bankrupt, even some people assessing adverse impact on the economy
in Indonesia, the issuance of presidential Decree No. 99/1998, which abolished
the ban on foreign investors to enter into " retail business " in Indonesia.
Based on Government Regulation as stipulated in
Presidential Decree No. 112/2007, defined that the supermarket format is
divided into three categories: first, Mini market which sells products only
household needs, including food and daily necessities, the number of products
< 5000 items, stores vast 400m2 maximum, maximum sales potential of 200
million and a limited parking area. Second, the supermarket sells products are
household needs, food, and including daily needs, item number 5000-25000
products, wide 400 - 5000m2 stores, parking area are ( adequate ), potential
sales - 10 billion 200 million. Third, the hypermarket that sells products are
household goods, including food and daily necessities, textile, fashion,
furniture, etc., spacious stores > 5000m2, very large parking area,
potential sales > 10 billion.
Now in the county or even city villages in
Indonesia, " retail business " began much ogled the businessmen,
because it has a positive influence on the number of jobs and benefits are
promising, with self-service marketing system format, which consumers pay at
the cash register that has been provided . A touch of technology, which is
integrated in the software (software), ease of recording by using a computer,
be it recording activities and transactions of the administrators, cashiers,
warehouse chief and so forth, making the management or mismanagement of neat
and controlled as well as reports on the evaluation of each transaction can
monthly. From the social aspect, creating a new culture in the shop, which is a
shopping atmosphere that is more clean and comfortable.
One of the convenience and benefits in opening a
mini market that is just preparing the land and buildings with land deals and
the building on lease for 20 years by owner "retail business", then
it will be full rights of land owners and building. Land area needed to be
prepared was not so wide, The maximum 400m2. Even interesting thing people can
shop online. Data reported by Media - APRINDO Data from 2004 to 2008, mini
market growth (growth) with the highest average turnover of 38% per year,
followed by 21.5% hypermarket and supermarket are only a growth of 6 % per
year. In line with the high growth, especially in the mini market,
characterized by increasing competition in the market expansion of two large
businesses in it are Indomart and Alfamart.
In terms of turnover that can be generated which is
the largest hypermart format, which never reached in
2008 which was 41%. While the mini market with the acquisition of 32%, then
followed by the supermarket. The decrease in the supermarket assessed as a
result of the increasing number of additional outlets which can shorten minimarket consumers access to the supermarket to shop for.
Beside that, the aggressive behavior of hypermarkets in various promotional
events and interesting strong, supported by the availability of its products
has given its own place in the eyes of consumers.
According to the financial statement of the company having been audited by
public accountant, sales turnover of P.T. MPP in 2010 amounted to Rp. 8,163.9 billion with a net profit of Rp. 5,800.6 billion increasing to Rp.
8,908.6 billion with a net profit dropt of Rp. 120.3
billion in 2011 and to Rp. 10,868.2 billion with a
net profit of Rp. 239.5 billion in 2012. As per 30
June 2013 the sales turnover amounted at Rp. 5,446.7
billion with a net profit of Rp. 221.8 billion. It is
projected the sales turnover will be higher by at least 5% in 2014. 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 financial statement per 31 December 2010, 2011, 2012
and as per 30 June 2013 is attached.
The management of P.T. MPP is led by Mr. Benyamin
Jonathan Mailool (50) a professional manager with
more than 12 years of experience in department store management. Mr. Benyamin Jonathan Mailool
appointed in the post of president director of P.T. MATAHARI PUTRA PRIMA Tbk and P.T. MATAHARI DEPARTMENT STORE Tbk.
He appointed as Commissioner in 2006. He has since
2002 until now served as CEO / President Director of P.T. Matahari
Putra Prima Tbk. Started
his career at Citibank, Jakarta in 1989 to 1997 with his last position as Vice
President, Risk Treasury Management Head. 1997 to to
2001 he served as CEO PT Bukit Sentul
Tbk. He holds an MBA degree from Oklahoma State
University, USA.
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. MATAHARI PUTRA PRIMA Tbk is sufficiently fairly good for business transaction.
Attachment:
P.T. MATAHARI PUTA PRIMA Tbk
Consolidated
Financial Statements
Per 31 December
2010, 2011, 2012 and per 30 June 2013
(In Million Rupiah)
|
DECCRIPTION |
30 June 2013 |
31 December |
||
|
2012 |
2011 |
2010 |
||
|
A. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Cash
Equivalent |
692,038 |
1,361,736 |
1,403,075 |
2,565,235 |
|
- Trade Receivable
– Third Parties |
62,509 |
43,338 |
34,711 |
20,305 |
|
- Held to
maturities Investments |
262,980 |
1,553,980 |
382,318 |
1,383,975 |
|
- Other Receivable |
444,293 |
280,259 |
223,537 |
184,550 |
|
- Other Current
Financial Assets |
25,600 |
- |
1,672 |
- |
|
- Inventories |
2,210,985 |
1,670,574 |
1,266,120 |
969,713 |
|
- Prepaid Taxes |
50,358 |
35,783 |
95,639 |
102,164 |
|
- Prepaid Expenses |
58,222 |
108,432 |
137,823 |
116,233 |
|
- Other Current
Assets |
32,296 |
30,638 |
66,868 |
65,220 |
|
Total Current Assets
|
3,839,281 |
5,084,740 |
3,611,763 |
5,407,395 |
|
b. Non Current Assets |
|
|
|
|
|
- Non Trade
Receivable – Related Parties |
- |
7,884 |
9,502 |
12,513 |
|
- Other Long Term
Receivable |
- |
- |
1,171,243 |
1,088,359 |
|
- Other non current
Financial Assets |
15,190 |
29,524 |
28,956 |
18,859 |
|
- Investment |
- |
- |
32,794 |
29,667 |
|
- Other long term
Investments |
2 |
2 |
883,853 |
1,069,278 |
|
- Investment
Properties |
- |
- |
89,651 |
74,333 |
|
- Property and
Equipment |
892,538 |
775,125 |
1,643,505 |
1,503,459 |
|
- Rental Advances
and Deposits |
1,154,318 |
1,689,179 |
1,665,588 |
1,394,535 |
|
- Prepaid Long Term
Rents |
222,173 |
398,147 |
695,336 |
484,272 |
|
- Intangible Assets |
3,614 |
1,188 |
251 |
559 |
|
- Other Non Current
Assets |
119,906 |
126,162 |
198,844 |
32,641 |
|
- Deferred Tax
Assets |
52,203 |
113,255 |
276,883 |
304,730 |
|
Total Non Current Assets |
2,459,944 |
3,140,466 |
6,696,406 |
6,013,205 |
|
TOTAL ASSETS = LIABILITIES
STOCKHOLDERS’ EQUITY |
6,299,225 |
8,225,206 |
10,308,169 |
11,420,600 |
|
B. LIABILITIES &
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Account Payable |
1,729,381 |
1,422,313 |
1,290,377 |
987,993 |
|
- Accrued Expenses |
281,209 |
323,466 |
412,559 |
341,217 |
|
- Taxes Payable |
28,384 |
76,151 |
43,424 |
83,199 |
|
- Short Term
Liabilities |
106,734 |
196,837 |
180,232 |
124,247 |
|
- Current
Maturities of Long Term Debts; |
|
|
|
|
|
* Bank Loans |
- |
535,000 |
440,000 |
370,000 |
|
* Bonds Payable |
51,839 |
- |
249,581 |
- |
|
* Sukuk Payable |
135,696 |
- |
89,850 |
- |
|
- Other Current
Financial Liabilities |
95,316 |
92,405 |
151,754 |
72,671 |
|
- Other Current
Liabilities |
78,609 |
69,754 |
102,656 |
71,877 |
|
Total Current
Liabilities |
2,507,168 |
2,715,926 |
2,960,433 |
3,063,982 |
|
b. Non Current Liabilities |
|
|
|
|
|
- Long Term Bank Loan |
500,000 |
1,280,100 |
1,307,040 |
269,730 |
|
- Non trade payable
– related parties |
- |
- |
3,416 |
6,284 |
|
- Bonds Payable |
- |
51,747 |
51,586 |
299,723 |
|
- Sukuk payable |
- |
135,493 |
134,919 |
223,943 |
|
- Long Term
Liabilities |
140,040 |
126,636 |
111,067 |
85,402 |
|
- Other Non Current
Liabilities |
80,130 |
69,550 |
53,952 |
13,183 |
|
- Deferred Tax
Liabilities |
- |
- |
2,308 |
1,070 |
|
Total Non Current Liabilities |
720,170 |
1,663,526 |
1,664,288 |
1,162,586 |
|
c. Total Liabilities |
3,227,338 |
4,379,452 |
4,624,721 |
4,226,568 |
|
d. Stockholders Equity |
|
|
|
|
|
- Share Capital |
268,898 |
278,827 |
2,788,273 |
2,788,273 |
|
- Additional Paid-up Capital |
774,578 |
324,652 |
324,652 |
324,652 |
|
- Difference in value from restructuring
transact. |
- |
444,848 |
- |
- |
|
- Treasury Stock |
- |
(33,873) |
(123,236) |
(123,236) |
|
- Retained Earnings |
2,028,381 |
2,831,270 |
2,642,389 |
4,150,741 |
|
- Other Comprehensive Income |
- |
- |
1,030 |
1,028 |
|
Total Shareholder
Equity |
3,071,887 |
3,845,754 |
5,683,448 |
7,194,032 |
|
DECCRIPTION |
|
|
|
|
|
C. INCOME STATEMENTS |
|
|
|
|
|
a. Sales – Net
|
5,446,716 |
10,868,164 |
8,908,611 |
8,163,877 |
|
b. Cost of Goods Sold |
(4,594,323) |
(8,970,603) |
(7,351,010) |
(1,383,158) |
|
c. Gross Profit |
852,393 |
1,897,561 |
1,557,601 |
1,866,889 |
|
d. Operating Expenses |
778,023 |
2,024,670 |
1,772,691 |
1,812,929 |
|
e. Operating Profit |
295,055 |
312,867 |
101,101 |
53,960 |
|
f. Profit Before Income Tax |
293,801 |
268,449 |
164,372 |
56,638 |
|
g. Extraordinary Item |
- |
- |
- |
5,733,215 |
|
h. Income Tax Expense |
(71,979) |
(28,971) |
(44,073) |
(29,395) |
|
i. Net Profit |
221,822 |
239,478 |
120,299 |
5,800,640 |
Notes: 31 December 2010, 2011 & 2012 audited by RSM AAJ (Aryanto, AMir Jusuf, Mawar & Saptoto)
30 June 2013 un audited
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
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 |
|
---- |
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.