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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. ADHINATA KARYA MARMER |
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|
|
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Registered Office : |
Jl. Raden Inten II No. 3, RT.008, RW.010 Buaran, Duren
Sawit, Jakarta 13440 |
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|
|
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Country : |
Indonesia |
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|
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Date of Incorporation : |
01.04.2000 |
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|
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Com. Reg. No.: |
No. AHU-AH.01.10-28561 |
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading, Import and Distribution of Marble Tiles, Granite Tiles and
Natural Stone |
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|
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No. of Employees : |
20 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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. ADHINATA
KARYA MARMER
Address :
Head Office
Jl. Raden Inten II No. 3, RT.008, RW.010
Buaran, Duren Sawit,
Jakarta 13440
Indonesia
Phone -
(62-21) 8617434, 8617425
Fax - (62-21) 8606556
Email - adhinata@perusahaan.com
Building Area - 2 storey
Office Space - 180 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
01 April 2000
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. C-03427 HT.01.04.TH.2007
Dated 15 November 2007
b. No. AHU-AH.01.10-28561
Dated 09 November 2010
Company Status :
National Private Company
Permit by the
Government Department :
a. The Department
of Finance
NPWP No. 1.973.504.2-002
b. The Department
of Trade
SIUP No. 01084-05/PK/P1/
Related/Affiliated Company :
Not available
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. Rudijanto
Soemali - Rp. 237,500,000.- (95%)
Address : Jl. Dermaga No. 4
RT.001/RW.011, Klender
East Jakarta
b. Mr. Albert
Sundoro Lie - Rp. 12,500,000.- (
5%)
Address : Jl. Kampung
Kapitan No. 50
Kel. Duren Sawit, Klender
East Jakarta
Lines of Business
:
Trading, Import and Distribution of Marble Tiles, Granite Tiles and
Natural Stone
Production Capacity
:
None
Total Investment :
None
Started Operation
:
June 2000
Brand Name :
Adhinata Karya Marmer
Technical
Assistance :
None
Number of Employee
:
20 persons
Marketing Area :
Domestic - 100%
Main Customers :
a. Building contractor companies
b. Building materials supermarkets
c. Building materials dealer shops
d. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. PT. Agung Ceramindo Inti
b. PT. Alam
Surya Raya Indah
c. PT. Cahaya Indah Keramik
d. PT. Gunung Marmer Raya
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank NEGARA
INDONESIA Tbk
Darma Persada Branch
Jl. Radin Inten II Raya
Klender, East Jakarta
b. P.T.
Bank MANDIRI Tbk.
Duren Sawit Branch
Jl. Pahlawan Revolusi No.57
Duren Sawit, East Jakarta
c. P.T.
Bank EKONOMI
Jatinegara Branch
Jl. Ps. Jatinegara Barat No. 42
Jatinegara,
East Jakarta
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2010 – Rp. 14.0 billion
2011 – Rp. 16.3 billion
2012 – Rp. 18.5 billion
2013 – Rp. 10.4 billion (January – June)
Net Profit (Loss)
:
2010 – Rp. 0.8 billion
2011 – Rp. 1.0 billion
2012 – Rp. 1.2 billion
2013 – Rp. 0.7 billion (January – June)
Payment Manner :
Average
Financial Comments
:
Satisfactory
Board of Management :
Director - Mr. Rudijanto Soemali
Board of Commissioners :
Commissioners -
Mr. Albert Sundoro Lie
Signatories :
Director (Mr. Rudijanto Soemali) which
must be approved by Board of Commissioner (Mr. Albert Sundoro Lie)
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. ADHINATA KARYA MARMER (P.T. AKM) was established in Jakarta on
April 1, 2000 with the authorized capital of Rp 1,000,000,000.- of which Rp
250,000,000.- was issued and fully paid
up. The founding shareholders of
the company are Mrs. Ir. Sonya Silviana Kembuan (50%) and Mr. Rudijanto Soemali
(50%), both are Indonesian entrepreneurs of Chinese extraction. The Company’s article of association has been
amended, most recently by notarial deed No. 40 dated October 11, 2010 of notary
Mrs. Pudji Redjeki Irawati, SH., Mrs. Ir. Sonya Silviana Kembuan pulled out and
the whole shares are sold to Mr. Rudijanto Soemali and his brother-in-law Mr.
Albert Sundoro Lie.
Since at the time, the shareholders of the company are Mr. Rudijanto
Soemali (95%) and Mr. Albert Sundoro Lie (5%).
The amendment to notary deed
has been approved by the Minister of Law and Human Rights of the Republic of
Indonesia through Decree No. AHU-AH.01.10-28561 dated November 9, 2010. No changes have been effected in term of its
shareholding composition and capital structures to date.
P.T. AKM has been operating since 2000 dealing with the trading, import and distribution of marble tiles, granite tiles and natural stone. Miss Korie, an administrative staff of the company explained that P.T. AKM is selling are marbles and granites tiles of which 80% are imported from India, China, Spain, Italy, and the rest is local products from West Java and East Java. The company has a showroom doubling as its office located at Jalan Raya Raden Inten II No. 3, Duren Sawit, East Jakarta. Miss Korie said to our inquiry that all products are marketed to building contractor companies, buildings materials supermarkets, building material dealer shops and others in Jakarta and its surroundings. We observed that P.T. AKM 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 marble and granite tiles has kept on increasing by
8% to 10% per year in the last five years in line with the growth of properties
such as real estate, apartments, hotels, condominiums, office building,
shopping centers and others. But, as
from October 2008, the demand growth for marble and granite tiles 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. AKM is appraised to be favorable for having
established regular customers and wide marketing networks in Jakarta and its
surrounding.
Until this time P.T. AKM 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. AKM 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. 14.0 billion increased to Rp.
16.3 billion in 2011 to Rp. 18.5 billion in 2012 and estimated will increase
again at least 8% in 2013. It is
estimated that P.T. AKM’s operation has in 2012 yielded a total net profit of
Rp 1.2 billion with a total net worth of Rp 8.0 billion. So far we did not hear that P.T. AKM has been
black listed by Bank Indonesia (Central Bank) or having detrimental cases being
settled in local district court.
The management of P.T. AKM is headed by Mr. Rudijanto Soemali (54) as
director and he is assisted by his brother-in-law Mr. Albert Sundoro Lie (59)
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. AKM 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.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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.