|
Report Date : |
23.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. TRIDA KIMIA
SAKTI |
|
|
|
|
Registered Office : |
Jalan Tiang Bendera IV No. 17-19, Kelurahan Roa Malaka, Kecamatan Tambora Jakarta Barat,
11230 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
13.09.2001 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-33348 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading, Import and Distribution of Agrochemical Products |
|
|
|
|
No. of Employees : |
27 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) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
indonesia - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, grew more than 6%
annually in 2010-12. The government made economic advances under the first
administration of President YUDHOYONO (2004-09), introducing significant reforms
in the financial sector, including tax and customs reforms, the use of Treasury
bills, and capital market development and supervision. During the global
financial crisis, Indonesia outperformed its regional neighbors and joined
China and India as the only G20 members posting growth in 2009. The government
has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio
of less than 25%, a fiscal deficit below 3%, and historically low rates of
inflation. Fitch and Moody's upgraded Indonesia's credit rating to investment
grade in December 2011. Indonesia still struggles with poverty and
unemployment, inadequate infrastructure, corruption, a complex regulatory
environment, and unequal resource distribution among regions. The government in
2013 faces the ongoing challenge of improving Indonesia''s insufficient
infrastructure to remove impediments to economic growth, labor unrest over
wages, and reducing its fuel subsidy program in the face of high oil prices.
|
Source
: CIA |
Name of Company :
P.T. TRIDA KIMIA SAKTI
Address :
Head Office
Jalan Tiang Bendera IV No. 17-19
Kelurahan Roa Malaka, Kecamatan Tambora
Jakarta Barat, 11230
Indonesia
Phones -
(62-21) 6900 138, 6900 140, 6900 141
Fax - (62-21) 6904 383
E-mail -
tridachem@cbn.net.id
Building Area - 2 storey
Office Space - 180 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
13 September 2001
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
- No. C-02005
HT.01.01.TH.2002
Dated 6 February 2002
- No. AHU-AH.01.10-33348
Dated 16 August 2013
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 01.871.204.3-033.000
The Department of
Industry and Trade
TDP No. 090215123433
Dated 2 April 2002
Related Companies :
a. P.T. MERCUPRIMA
NUSANTARA TEXTILE MILLS (Spinning Mills)
b. P.T. MERCUPRIMA SENTOSA
TEXTILE FACTORY (Spinning Mils and Garment Mfg)
Capital Structure :
Authorized Capital : Rp.
1,000,000,000.-
Issued Capital :
Rp. 250,000,000.-
Paid up Capital :
Rp. 250,000,000.-
Shareholders/Owners :
a. Mr. Abie Irawan Ie -
Rp. 237,500,000.-
Address : Taman Kebon Jeruk M 5/12, RT. 005 RW. 010
Kelurahan Srengseng,
Kecamatan Kembangan
Jakarta Barat
Indonesia
b. Mr. Liauw Kusnadi Santoso -
Rp. 12,500,000.-
Address : Green Garden Block Y-2/1, RT. 004 RW. 003
Kelurahan Kedoya Utara,
Kecamatan Kebon
Jeruk, Jakarta Barat
Indonesia
Lines of Business :
Trading, Import and Distribution of Agrochemical Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2002
Brand Name :
Tridamex, Sildok
Technical Assistance :
None
Number of Employee :
27 persons
Marketing Area :
Local - 100%
Main Customer :
Distributors of Agrochemical and Fertilizers
Market Situation :
Very Competitive
Main Competitors :
a. P.T. DUPONT AGRICULTURAL PRODUCTS INDONESIA
b. P.T. GOAUTAMA CAHAYA ASIAN
c. P.T. PETROKIMIA KAYAKU
d. P.T. SYGENTA INDONESIA
e. Etc.
Business Trend :
Growing
Banker :
P.T. Bank CENTRAL ASIA Tbk
Jalan Tiang Bendera 5 No. 38 E
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2010 – Rp. 12.9 billion
2011 – Rp. 13.9 billion
2012 – Rp. 15.0 billion
2013 – Rp. 8.4 billion (January
– June)
Net Profit (estimated) :
2010 – Rp. 774 million
2011 – Rp. 834 million
2012 – Rp. 900 million
2013 – Rp. 504 million (January – June)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Abie Irawan Ie
Director - Mr. Irawan
Board of Commissioners :
President Commissioner -
Mr. Ie Kian Tjoan
Commissioner - Mr. Liauw Kusnadi Santoso
Signatories :
President Director (Mr. Abie Irawan Ie)
or the Director (Mr. Irawan) which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. TRIDA KIMIA SAKTI (P.T. TKS) was set-up in Jakarta on 13 September
2001 with the authorized capital of Rp. 1,000,000,000 issued capital of Rp.
250,000,000 fully and paid up. The founding and shareholders of the company are
Mr. Abie Irawan Ie, Mrs. Widawati Widjaja, Mr. Ie Kian Tjoan and Mr. Budy
Ierawan, they are Indonesian businessmen of Chinese descents. Its article of
association has frequently been revised for several times. Then according to
the latest revision of notary documents of Mrs. Estharia Eliazar, SH., No. 11
dated 9 September 2013 Mrs. Widawati Widjaja, Mr. Ie Kian Tjoan and Mr. Budy
Ierawan pulled out and the whole shares took over by Mr. Abie Irawan Ie and Mr.
Liauw Kusnadi Santoso. With this time the composition of its shareholders has been
changed to become Mr. Abie Irawan Ie (95%) and Mr. Liauw Kusnadi Santoso (5%).
The deed of amendments was approved by the Ministry of Law and Human Rights in
its decision letter No. AHU-AH.01.10-33348 dated August 16, 2013.
P.T. TKS has been operating since 2002 dealing with trading, import and
distribution of agrochemical products. The agricultural formulation products
were imported from China, India, and others countries while the rest from
locals. The company sells of various agrochemical formulation products by uses
TRIDAMEX 36 EC, SILDOK 50 EC and others. The insecticides useful for control
various types such as various kinds of plants lice aphids, whitefly and thrips
that attack vegetable crops, peppers, tomatoes, potatoes, fruits trees and plantation,
controls destructive insects such as leaf caterpillars on cabbage, rollers on
the plant leaf teas, fruit flies on tomato plants and chili.
SILDOK 50 EC available packing 100 ml, 500 ml and others and useful to control
crop pests, rice, red and white onions, peppers, tomatoes, corn, citrus,
peanuts, long pepper, tea, tobacco, green beans, palm oil, coffee, cabbage,
watermelon, melon, soybeans, red beans, cocoa and others. Mrs. Nesya, marketing
staff of the company explained the whole products is marketed in the ranks of
oil palm plantation companies, coffee, cacao, rubber and clove plantations
operating in West Java, East Java, Central Java, Sumatra, Kalimantan and
Sulawesi. The global economic crisis and the steep Rupiah depreciation to the
hard foreign currencies have adversely affected the company's business for
having pushed up highly the prices of imported basic materials resulting in
much increased production cost. The crisis has caused the sales price of the
product to rise sharply. Gradually these operations running smoothly and
developing and its products are marketed to the plantation sector and also to
agriculture chemical distributor in the country. We observe the operation of
P.T. TKS has been growing and developing well in the last three years
Generally, demand for pesticides, fungicides, herbicides, insecticides
has kept on increasing in the last five years being inline with the growth and
development of agro industries and plantation industries in the country. There
are lots expansion plantation areas having been realized from expansion of
agricultural companies or new investment. There is indication that the
increased plantation areas are shown in the growth and development investment
interest on plantation sectors and more realized of the development projects by
plantation companies obtaining license. The increasing investment on plantation
sector is also good impact to the agricultural commodities in international
markets. Besides, the prices of agricultural commodities in international
markets have started increasing.
Until this time P.T. TKS has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. TKS is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the
company in 2010 amounted to Rp. 12.9 billion rose to Rp. 13.9 billion in 2011
increased to Rp. 15.0 billion in 2012. As from January to June 2013 the sales
turnover has amounted at Rp. 8.4 billion with a net profit of Rp. 504 million.
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. TKS is led by Mr. Abie Irawan Ie (53) a
businessman and professional manager with experience in trading, import and
distribution of agrochemical products. Daily activity he is assisted by Mr.
Irawan (24) 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. TRIDA KIMIA
SAKTI is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
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.