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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. MARCOPERSADA ENGINEERING |
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Registered Office : |
Jalan Kapuas No. 23, Jakarta 10150 |
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Country : |
Indonesia |
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Date of Incorporation : |
20.04.2001 |
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Com. Reg. No.: |
No. AHU-38864.AH.01.02.Tahun 2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
trader and distributor
of precision engineering products |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
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) |
|
Indonesia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 |
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 |
P.T. MARCOPERSADA ENGINEERING
Head Office
Jalan Kapuas No. 23
Jakarta 10150
Indonesia
Phone -
(62-21) 344 2789
Fax - (62-21) 344 2788
Email - marco@dnet.net.id
Building Area - 2 storey
Office Space - 180 sq. meters
Region - Commercial
Status - Rent
20 April 2001
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
a. No. C-01346 HT.01.01.TH.2001
Dated 30 May 2001
b. No. AHU-38864.AH.01.02.Tahun 2009
Dated 12 August
2009
National Private Company
The Department of
Finance
NPWP No. 02.040.505.6-028.000
Not available
Capital Structure
:
Authorized Capital -
Rp 750,000,000.-
Issued Capital -
Rp 600,000,000.-
Paid up Capital -
Rp 600,000,000.-
Shareholders/Owners
:
a.
Mr. Heryanto - Rp.
300,000,000.- (50%)
Address : BSD Sektor XII-5 Blok U.1/6
Kel. Ciater, Kec.
Serpong
Tangerang, Banten
b.
Mr. Hery Dachiri - Rp.
300,000,000.- (50%)
Address : Perum Dasana
Indah Blok RI 7
Kel. Bojong Nangka, Kec.
Kelapa Dua
Tangerang, Banten
Lines of Business
:
Trading and Distribution of Precision
Engineering Products
Distributor of :
Renold Plc, of United Kingdom (UK)
Total Investment :
None
Started Operation
:
June 2001
Brand Name :
Renold
Technical
Assistance :
Renold Plc, of United Kingdom
Number of Employee
:
20 persons
Marketing Area :
Domestic - 100%
Main Customers :
a. Cement Industries
b. Steel Fabricating Industries
c. Workshop Industries
d. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Momentum Engineering Indochime
b. PT. Mestika Ekatatata Lestari
c. PT. Gunung Mas Sakti Abadi
d. PT. Natraco Tunas Citra
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Tanah
Abang Branch
Jl.
Tanah Abang II No. 40
Jakarta
Pusat
Indonesia
b. P.T. Bank MANDIRI Tbk.
Tanah
Abang Branch
Jl. Tanah Abang
Timur No. 1-2
Jakarta
Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2010 – Rp. 24.8 billion
2011 – Rp. 29.0 billion
2012 – Rp. 33.5 billion
2013 – Rp. 19.0 billion (January – June)
Net Profit (Loss)
:
2010 – Rp. 1.2 billion
2011 – Rp. 1.4 billion
2012 – Rp. 1.6 billion
2013 – Rp. 0.9 billion (January – June)
Payment Manner :
Average
Financial Comments
:
Satisfactory
Board of Management :
Director - Mr. Heryanto
Marketing Manager - Mr. Hendrik
Board of Commissioners :
Commissioners -
Mr. Hery Dachiri
Signatories :
Director (Mr. Heryanto) which must be
approved by Board of Commissioner (Mr. Hery Dachiri)
Management Capability :
Good
Business Morality :
Good
P.T. MARCOPERSADA ENGINEERING (P.T. MPE) was established in
Jakarta based on notarial Deed No. 141 dated April 20, 2001 of Mrs. Ratna
Komala Komar, SH., notary in Jakarta with the authorized capital of Rp
750,000,000.- of which Rp 600,000,000.- was issued and fully paid up.
The founding shareholders of the company are Mr. Heryanto (50%) and Mr.
Hery Dachiri, both are Indonesian businessmen of Chinese extraction. The deed of establishment was approved by the
Minister of Law and Human Rights through its Decision Letter No. C-01346
HT.01.01.TH.2001 dated May 30, 2001.The Company’s article of association has
been amended, most recently by notarial deed No. 12 dated May 29, 2009 of
notary Martha Tiurma Ida Hutapea, SH., concerning changes of the whole article
of association of the Company’s to conform with Law No. 40 Year 2007 concerning
Limited Liability Company. The notarial Deed has
been approved by the Minister of Law and Human Rights of the Republic of
Indonesia through Decree No. AHU-38864.AH.01.02.Tahun 2009 dated August 12,
2009.
P.T. MPE has been
operating since 2001 dealing with the trading and distribution of precision
engineering products. Miss Vella, an
administrative staff of the company explained that P.T. MPE is appointed as
distributor of Renold Plc., of UK, is an international engineering group, producing
a wide of precision engineering products.
The products include transmission and conveyor chains, gearboxes and
mechanical variable speed drives, clutches, coupling and spindles. In marketing in the country, P.T. MPE is
supported by its principal company Renold Representative Office in Indonesia,
which already has a wide marketing network in the country. Miss Vella said to our inquiry that all products are marketed to cement
industries, steel fabricating industries and workshop industries in Jakarta and
its surroundings. We observed that
P.T. MPE 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.
Generally, demand for precision engineering products has kept on increasing in the last five years in line with the growing cement industries, steel fabricating industries, workshop industries and others. But, as from October 2008, the demand growth for precision engineering products has kept on dwindling as an impact of global economic crisis as told above. The demand was increasing in the early 2009 due to economic condition was gradually recovery in the country. The growth rate is now estimated at 5% to 6% per year. Market competition is very tight due to a large number of similar companies operating in the country. The business position of P.T. MPE is appraised to be favorable for having established regular customers and wide marketing networks in Jakarta and its surrounding.
Until this time P.T. MPE has not been registered with Indonesian Stock Exchange, so that they shall not obliged to announce their financial statement. Therefore, the company has no obligation to publish financial statement publicly. The management of P.T. MPE is very reclusive towards outsiders and rejected to disclose its financial condition but we estimated that sales turnover of the company in 2010 amounted to Rp. 24.4 billion increased to Rp. 29.0 billion in 2011 to Rp. 33.5 billion in 2012 and estimated will increase again at least 8% in 2013. It is estimated that P.T. MPE’s operation has in 2012 yielded a total net profit of Rp 1.6 billion with a total net worth of Rp 6.0 billion. So far we did not hear that P.T. MPE has been black listed by Bank Indonesia (Central Bank) or having detrimental cases being settled in local district court.
The management of P.T. MPE is headed by Mr. Heryanto (44) as director and Mr. Hery Dachiri (57) as commissioner. The company's management is handled by professional managers 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. MPE 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
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UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
|
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 |
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<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.