|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. INDOPOLY
SWAKARSA INDUSTRY TBK |
|
|
|
|
Registered Office : |
Wisma Indosemen, 5th Floor Jalan Jend. Sudirman Kav. 70-71 Jakarta Selatan, 12190 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
24.03.1995 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-23541 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
a. BOPP Film
Manufacturing b. Investment Holding |
|
|
|
|
No. of Employees : |
1,030 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 : |
Slow but Correct |
|
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. INDOPOLY SWAKARSA INDUSTRY Tbk
Address :
Head Office
Wisma Indosemen, 5th Floor
Jalan Jend. Sudirman Kav. 70-71
Jakarta Selatan, 12190
Indonesia
Phones -
(62-21) 2510088 (Hunting)
Fax - (62-21) 2510460
E-mail - marketing@indopoly.co.id
Website - http://www.indopoly.co.id
Building Area - 20 storey
Office Space - 230 sq. meters
Region - Commercial
Building
Status - Rent
Factory
Block 6,7,8 Sector A1
Kota Bukit Indah
Bungursari, Purwakarta, 41181
West Java
Indonesia
Phones -
(62-264) 351-455 (Hunting)
Fax - (62-264) 351-066
Land Area - 50,000 sq.
meters
Building Space - 27,500 sq. meters
Region - Industrial
Zone
Status - Owned
Date of
Incorporation :
24 March 1995
Legal Form :
P.T. Tbk (Perseroan Terbatas Terbuka) or Public Listed Company
Company Reg. No. :
The Ministry of
Law and Human Rights
- No.
C2-16.943.HT.01.01.TH.95
Dated 22 December 1995
- No. AHU-AH.01.10-26897
Dated 8 August 2011
- No. AHU-AH.01.10-23541
Dated 28 June 2012
Company Status :
Foreign Investment (PMA) Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 01.071.005.1-052.000
The President of
the Republic of Indonesia
No. B-44/Pres/01/1995
Dated 22 January 1995
The Capital Investment
Coordinating Board
- No. 79/I/PMA/1995
Dated 7 February 1995
- No. 190/II/PMA/1997
Dated 17 October 1997
- No. 1281/III/PMA/2001
Dated 21 September 2001
- No. 201/II/PMA/2006
Dated 21 June 2006
The Capital Market
Supervisory Agency
No. S-5908/BL/2009
Dated 30 June 2010
Related Company :
A Member Company of the NAPAN Group (see attachment)
Capital Structure :
Authorized Capital : Rp.
1,656,128,000,000.-
Issued Capital : Rp. 644,052,000,000.-
Paid up Capital : Rp. 644,052,000,000.-
Shareholders/Owners :
a. JEFFLYNE GOLDEN GOLDINGS PTE, LTD. -
Rp. 264,246,000,000.-
Address : 470
North Bridge Road 04-20
North Bridge Commercial
Singapore
b. NOBLE OX INTERNATIONAL LTD. -
Rp. 149,191,000,000.-
Address : : 470 North Bridge Road 04-20
North Bridge Commercial
Singapore
c. P.T. INTI PINCURANMAS NUGRAHA -
Rp. 595,000,000.-
Address : Wisma Indosemen 5th Floor
Jl. Jend. Sudirman Kav. 70-71
South Jakarta, Indonesia
d. Public -
Rp. 230,000,000,000.-
Address : Jakarta Stock Exchange
Indonesia
Lines of Business :
a. BOPP Film Manufacturing
b. Investment Holding
Production Capacity :
BOPP Films -
73,925 tons p.a.
Total Investment :
a. Equity Capital - US$ 12.8 million
b. Reinvested Profit - US$
0.2 million
c. Loan Capital - US$ 61.0 million
d. Total Investment - US$ 74.0 million
Started Operation :
1 June 1996
Brand Name :
Indopoly Swakarsa Industry
Technical Assistance :
None
Number of Employee :
1,030 persons
Marketing Area :
Local - 60%
Export - 40%
Main Customer :
Industrial Plastic
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ARGHA KARYA PRIMA INDUSTRY Tbk
b. P.T. FATRA POLINDO NUSA
Tbk
c. P.T. POLYDAYA GUNA
PERKASA
d. P.T. TRIAS SENTOSA Tbk
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA
Tbk
Jalan Asemka No. 27-30
Jakarta
Barat
Indonesia
b. Hongkong and Shanghai
Banking Corp. Ltd.
1/F – 5/F World Trade
Center
Jalan Jend. Sudirman
Kav. 29-31
Jakarta 12920
Indonesia
Auditor :
Aryanto, AMir Jusuf, Mawar and Saptoto (RMS International)
Litigation :
No litigation record in our database
Annual Sales :
2011 – US$ 207.3 million
2012 – US$ 227.3 million
2013 – US$ 116.8 million (as per 30 June)
Net Profit :
2011 – US$ 9.1 million
2012 – US$ 7.5 million
2013 – US$ 4.3 million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Henry Halim
Directors - a. Mr. Sichaburamli
b. Mrs. Yenni Meilina Lie
c. Mr. Bambang Widjaja
d. Mr. Leo Firdaus
e. Mrs. Pe Maria Indra
f. Mr.
Jose Gonjoran Tan
Board of Commissioners :
President Commissioner - Mrs. Felielyne Halim
Commissioners - a. Mr. Drs. Ryan Permana
- b. Mr. Irawan Sastrotanojo
Signatories :
President Director (Mr. Henry Halim) or
one of the Directors (Mr. Sichaburamli, Mrs. Yenni Meilina Lie, Mr. Bambang
Widjaja, Mr. Leo Firdaus, Mrs. Pe Maria Indra or Mr. Jose Gonjoran Tan) 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
P.T. INDOPOLY SWAKARSA INDUSTRY (P.T. ISI) was established in Jakarta
based on notary deed of Mr. Benny Kristianto, SH., No. 114 dated 24 March 1995
in Jakarta with an authorized capital of US$ 20,000,000 issued and paid-up
capital of US$ 12,800,000. The founding shareholders are PROWELL GROUP LIMITED,
of British Virgin Island (a member of the SALIM Group), JEFFLYNE GOLDEN
HOLDINGS Pte., Ltd., of Singapore, P.T. LINGGA DASA PERMATA (a national private
company whose majority business stakes controlled by Husein Susilo Tjoe), P.T.
RISDJADSON (a member company of the RISDJADSON Group headed by Mr. Ibrahim
Risjad) and P.T. INTI PINCURANMAS MULIA, the three are national private
companies. The company notary deed was approved by the Ministry of Law and
Human Rights in its decision letter No. C2-16.943.HT.01.01.TH.95 dated December
22, 1995. The company's notarial act has frequently been changed. In May 1999
the authorized capital was reduced to US$ 18,000,000 issued and paid up capital
to US$ 4,500,000.- On the same occasion P.T. INTI PINCURANMAS MULIA withdrew
and replaced by P.T. INTI PINCURANMAS NUGRAHA. In November 1998 the whole
shares of the SALIM Group through PROWELL GROUP LIMITED of British Virgin
Island in P.T. INDOPOLY SWAKARSA INDUSTRY had been handed over to P.T. HOLDIKO
PERKASA (an intentionally established holding company to control shares of the SALIM Group) to pay
Liquidity Support of Bank Indonesia (BLBI) to P.T. Bank CENTRAL ASIA Tbk. In
September 2001 the whole shares of the company had been controlled by JEFFLYNE
GOLDEN HOLDINGS PTE.LTD., of Singapore and P.T. INTI PINCURANMAS NUGRAHA above
mentioned.
Then based on notary deed of Mrs. Popie Savitri Martosuhardjo Pharmanto,
SH., No. 5 dated 1 March 2010 the word Tbk (Terbuka) was added behind its name
to comply with regulation of public listed company. On the same occasion the
authorized capital was converted into Rupuah with an authorized capital of Rp.
1,656,128,000,000 issued capital to Rp. 414,032,228,000 entirely paid up. The
deed of amendments was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-12654.AH.01.02.TH.2010 dated March 11, 2010. The latest
based on notary deed of Mrs. Mrs. Popie Savitri Martosuhardjo Pharmanto, SH.,
No. 48 dated 21 July 2011 the issued capital was raised to Rp. 644,052,000,000
entirely paid up. With this development the composition of its shareholders has
been changed to become JEFFILYNE GOLDEN HOLDINGS PTE, LTD., of Singapore
(41.03%), NOBLE OX INTERNATIONAL LTD (23.16%), P.T. INTI PINCURANMAS NUGRAHA
(0.10%) and Publics (35.71%). The latest revision of notary deed was approved
by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.10-23541 dated June 28, 2012.
The local partner, namely P.T. INTI PINCURANMAS NUGRAHA is a national
private company in investment holding which the majority business stakes is
controlled by Mr. Henry Halim. He is also the founder and majority business
stakes owner of the NAPAN Group.
P.T. ISI is a foreign investment (PMA) company engaged in plastic sheet
manufacturing industry with its plant located at Kawasan Industry Bukit Indah
City, Desa Cikampek, Purwakarta, West Java, on a land of some 50,000 sq.
meters. The plant had been operating since June 1996 with produces of various
types of high-end BOPP films (biauxially oriented polyprophylene film). There
are two main products produces, i.e. heat sealable film for cigarette industry
and plain film for packaging industry. The company is able to diversify into
various high quality of BOPP films, including for food, beverage, cigarette
packaging and many other industrial purpose as required by today’s high-tech
age.
Supporting basic materials like polypropylene (PP) is imported from
Germany and Australia. P.T. ISI utilizes BOPP film production line from
BRUCKNER Maschinebau of Germany, the leading BOPP film equipment maker in the
world. The technology allows P.T. ISI to ensure the highest production quality
and efficiency. The installed factory capacity is approximately 12,000 tons
(heatsealable film 4,200 tons per year, plain film 6,600 tons per year) of
which 60% is absorbed by INDOFOOD Group (P.T. CIPTA KEMAS ABADI).
Equipped with modern machinery and a competent team, P.T. ISI is always
striving to create added value to all products it produces while reducing its
impact on the environment. P.T. ISI has the ability to create various types of
film products from as thin as 12µ for thermal lamination to 50µ for fine food
packaging. The different film characteristics are possible through variations
in the formulation mix, processing temperatures, and stretching ratios. These
are automatically controlled by computerized systems which are closely
monitored by our talented employees with over twenty years of experience. P.T.
ISI Products has operated four production lines to manufacture
Biaxially-Oriented Polypropylene (BOPP) films for both local and multinational
companies around the world.
The advanced machinery and best-in-class technology allows P.T. ISI to
produce a considerable variety of high quality films with different physical
characteristics. These films have multiple applications including but not
limited to high end products such as oxo-biodegradable, high barrier metalized,
cigarette, and fine food packaging films. Last year, we witnessed the ground
breaking to build a new production line for a different type of film - BOPET.
BOPET is a polyester film made from stretched polyethylene terephthalate (PET)
that, because of its unique properties and applications, commands higher prices
and margins than BOPP.
Production
Facility and Capacity
P.T. ISI operates production facilities in three separate locations -
the original factory in Purwakarta, Indonesia and two others in China (Kunming
and Suzhou). All of our three factories employ only state-of the-art machines
from the leading suppliers in the industry - Brückner from Germany and Atlas
from England - to produce up to 8.2 meter-wide films.
P.T. ISI has close technical cooperation and product innovation for large
cigarette and consumer goods multinationals have helped ISI to keep ahead of
our competitors and grow with their customers. P.T. ISI is a preferred supplier
for global companies including Indofood, Djarum, Gudang Garam and Unilever. The
Indonesian facility serves a burgeoning domestic market while the export demand
for ISI’s films is led by companies in food packaging and cigarette
manufacturers. Each of our Chinese factories focus on different industrial
sectors - 100% of Yunnan Kunlene’s (Kunming factory) capacity is dedicated for
China’s leading cigarette companies while the vast majority of Suzhou Kunlene’s
output is sold as specialty films to high-end customers, both in China and
overseas.
Total production increased by 36% to 73,925 tonnes in 2010 compared to
54,465 tonnes in 2009. Considerable increase in production was due to full-year
contribution of 2nd BOPP line that was put in commercial production starting
July 2009. In addition, the Company has been successful in increasing its
utilization rate from 87% in 2009 to 93% in 2010. In investment holding P.T.
ISI also controls 89.24% shares of GOLDEN POLINDO INDUSTRIES PTE, LTD.,
Singapore engaged in investment; 100% shares of SUZHOU KUNLENE INDUSTRIES CO.,
LTD., China engaged in Biaxially Oriented Polypropylene Films and 100% shares
of YUNNAN KUNLENE FILM INDUSTRIES CO, LTD., China engaged in Biaxially Oriented
Polypropylene Films.
Besides that some of the products
are sold locally to several flexible plastic
containers industries and
other retailing stores
and printing houses
with a brand name of ‘ilene’.
During low local demand of BOPP film products P.T. ISI has had some success in
exporting its product to Malaysia, Australia, Hong Kong, China, Nepal, Sri
Lanka, South Africa, South Korea, Philippine, Vietnam, Egypt, USA, etc. We
observe the operation of P.T. ISI has been growing and developing well in the
last three years.
In overall views we find the demand for BOPP film had been rising by 8%
to 10% per year in the last five years, in line with the growth of plastic
container industries as consumers. The annual demand for BOPP film in Indonesia
reaches about 140,000 tons – 150,000 tons, or above the average supply of only about
120,000 tons/year from the five producers. So, local producers still have
opportunity to provide additional supply of 30,000 tons/year for the local
market. Business position of P.T. ISI remains good for some of the products are
absorbed by flexible plastic container industries in the INDOFOOD Group and
others.
Potential of the consumption of plastic products in
Indonesia is still quite large. Moreover, the national per capita consumption
of only 10 pounds per years. This is relatively low compared to other ASEAN
countries, such as Singapore, Malaysia, and Thailand, which reached 40
kilograms per capita per year. During this time, the consumption of plastic
packaging products was driven by growth in the food and beverage industries to
reach 60 percent. In Indonesia, the plastic packaging industry, there were 892
units. Plastic packaging products (rigid packaging), soft (flexible packaging)
as well as thermoforming and extrusion market products spread across a number
of regions in Indonesia.
The current installed capacity of the plastic
packaging industry reached 2.35 million tons per year. However, utilization of
70 percent, so that the average production reached 1.65 million tons, while the
labor absorption around 350,000 people. Although the structure of the national
plastic industry is fairly complete or integrated from upstream to downstream,
but there are still some obstacles and barriers, including import of plastic
raw materials, such as polypropylene which reached 484,000 tons of total requirement
of 976 000 ton per year. In addition, the plastic industry is still not
supported upstream petrochemical industry that produces crude oil (naphtha) and
condensate. Upstream petrochemical industry in Indonesia, many of which do not
have oil refineries (oil refinery) to produces the basic raw material of
plastic. Limitations of the processing makes the upstream petrochemical
industry is importing naphtha feedstock of 1.6 million ton and 33 million
barrels of condensate per year. Naphtha and condensate is the base material for
plastic industry raw materials. To reduce the import of raw materials, the
government continues to encourage the development of crude oil processing
industries (oil refinery) that is integrated with the structure of the industry
from upstream to downstream. In this case, the government is ready to provide
incentive, such as the abolition of tax (tax holiday), tax relief (tax
allowance), or exemption from import duty for capital goods. In addition, the
government will also encourage the development of human resources required.
According to the financial statement of the company having been audited
by public accountant, sales turnover of P.T. ISI in 2011 amounted to US$ 207.3
million with a net profit of US$ 9.1 million increasing to US$ 227.3 million
with a net profit of 7.5 million in 2012. As per 30 June 2013 the sales
turnover has amounted at US$ 116.8 million with a net profit of US$ 4.3
million. It is projected the sales turnover will be higher by at least 6% in
2014. We estimated the sales turnover will be higher by at least 5% in 2012.
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 as per 31 December
2011, 2012 and per 30 June 2013 is attached.
The management of P.T. ISI is led by Mr. Henry Halim (64), a businessman
with experience for some 19 years in BOPP film industry. The management is
handled by a number of professional managers both local and expatriate. The
management is considered very independent with a good reputation in BOPP film
industry and trade. Graduated with Bachelor in Business Administration,majoring
in International Business & Marketing, from McGill University, Montreal,
Canada, in 1977. Founder of the Company who has been serving as President
Director since 1995. Also serving as Chairman & CEO of Yunnan Kunlene Film
Industries Co. Ltd. (1994-now), Chairman & CEO of Suzhou Kunlene Film
Industries Co. Ltd. (2001-now), President Director of P.T. Supernova
(1995-now), President Director of P.T. Supernova Flexible Packaging (1995-now),
Director of Golden Polindo Industries Pte. Ltd., Singapore (2010-now), Director
of Jefflyne Golden Holdings Pte. Ltd., Singapore (1994-now). Previously served
as Director of P.T. Argha Karya Prima Industri Tbk (1980-1995). 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. INDOPOLY SWAKARSA INDUSTRY Tbk is sufficiently
fairly good for business transaction.
Attachment 2:
P.T. INDOPOLY SWAKARSA INDUSTRY Tbk
FINANCIAL STATEMENTS
Per 31 December 2011, 2012 and as per 30 June 2013
(In US Dollar)
|
Descriptions |
30 June |
31 December |
|||||
|
2013 |
2012 |
2011 |
|||||
|
A. ASSETS |
|
|
|
|
|||
|
a. Current Assets |
|
|
|
|
|||
|
- Cash and Cash
Equivalent |
6,428,904 |
6,439,332 |
11,036,003 |
|
|||
|
- Trade Receivable |
|
|
|
|
|||
|
* Related Parties |
2,882,887 |
3,641,322 |
3,737,347 |
|
|||
|
* Third Parties |
40,544,855 |
42,257,911 |
41,040,789 |
|
|||
|
- Other Receivable |
|
|
|
|
|||
|
* Related Parties |
74,870 |
79,671 |
106,841 |
|
|||
|
* Third Parties |
1,500,886 |
1,457,983 |
1,808,705 |
|
|||
|
- Inventories |
18,256,427 |
20,547,707 |
23,709,287 |
|
|||
|
- Prepaid Tax |
2,453,309 |
7,072,705 |
5,171,907 |
|
|||
|
- Prepaid Expenses |
786,498 |
475,715 |
596,031 |
|
|||
|
- Other Current Assets |
4,276,117 |
2,785,642 |
4,472,056 |
|
|||
|
Total Current Assets |
77,204,753 |
84,757,988 |
91,678,966 |
|
|||
|
b. Non Current Assets |
|
|
|
|
|||
|
- Other Receivables |
|
|
|
|
|||
|
* Third Parties |
159,823 |
163,363 |
925,929 |
|
|||
|
- Fixed Assets |
190,292,996 |
194,062,750 |
199,852,269 |
|
|||
|
- Intangible Assets |
3,603,169 |
3,674,618 |
3,570,196 |
|
|||
|
- Other Non Current
Assets |
228,818 |
240,599 |
222,214 |
|
|||
|
Total Non Current Assets |
194,284,146 |
198,069,881 |
157,979,201 |
|
|||
|
TOTAL ASSETS |
271,488,899 |
282,827,869 |
252,325,326 |
|
|||
|
B. Liabilities &
Stockholders Equity |
|
|
|
|
|||
|
a. Current Liabilities |
|
|
|
|
|||
|
- Short-term bank loans |
58,091,875 |
63,931,616 |
76,730,619 |
|
|||
|
- Related Payable |
|
|
|
|
|||
|
* Related Parties |
1,077,325 |
1,697,568 |
242,694 |
|
|||
|
* Third Parties |
12,362,620 |
15,425,064 |
13,767,200 |
|
|||
|
- Other Payable |
|
|
|
|
|||
|
* Third Parties |
1,441,759 |
1,291,965 |
2,417,865 |
|
|||
|
- Taxes Payable |
784,463 |
1,317,926 |
925,021 |
|
|||
|
- Accrued Expenses |
3,374,252 |
2,839,376 |
3,145,559 |
|
|||
|
- Bank Loans |
10,339,923 |
10,127,431 |
9,605,591 |
|
|||
|
- Lease Payables |
- |
- |
- |
|
|||
|
- Customer Financing
Payables |
76,705 |
155,983 |
63,432 |
|
|||
|
- Short Term Employee
Benefits |
330,861 |
53,992 |
279,812 |
|
|||
|
Total Short Term
Liabilities |
87,879,783 |
96,840,291 |
107,177,793 |
|
|||
|
b. Non Current
Liabilities |
|
|
|
|
|||
|
- Bank Loans |
31,284,179 |
37,005,756 |
47,184,310 |
|
|||
|
- Customer Financing
Payable |
212,313 |
221,862 |
488,397 |
|
|||
|
- Other payables |
|
|
|
|
|||
|
* Related Parties |
- |
- |
- |
|
|||
|
* Third Parties |
115,082 |
498,635 |
489,215 |
|
|||
|
- Long Term Employee
Benefit |
1,080,285 |
1,109,219 |
856,787 |
|
|||
|
- Deferred Tax
Liabilities |
6,239,742 |
6,131,480 |
6,002,247 |
|
|||
|
- Total Non Current
Liabilities |
38,931,601 |
44,966,952 |
55,020,956 |
|
|||
|
- Total Liabilities |
126,811,384 |
141,807,243 |
162,198,749 |
|
|||
|
Total Liabilities |
|
|
|
|
|||
|
c. Stockholders Equity |
|
|
|
|
|||
|
- Paid up capital |
72,845,925 |
72,845,925 |
72,845,925 |
|
|||
|
- Additional paid-in
capital |
23,384,167 |
25,762,692 |
25,762,692 |
|
|||
|
- Retained earnings |
|
|
|
|
|||
|
* Appropriated |
173,817 |
73,817 |
57,983 |
|
|||
|
* Unappropriated |
44,724,562 |
42,180,710 |
35,633,753 |
|
|||
|
Total equity |
144,677,515 |
141,020,626 |
134,154,629 |
|
|||
|
C. INCOME STATEMENTS |
|
|
|
|
|||
|
a. Sales – Net
|
116,781,083 |
227,273,096 |
207,311,612 |
|
|||
|
b. Gross Profit |
20,124,969 |
38,541,307 |
34,895,037 |
|
|||
|
c. Operating Profit |
7,709,457 |
16,524,499 |
15,843,075 |
|
|||
|
d. Total Comprehensive Income |
4,306,264 |
7,544,915 |
9,087,897 |
|
|||
Notes: 31 December 2012 and 2011 audited by
RSM AAJ (Aryanto, AMir Jusuf, Mawar & Saptoto)
30 June 2013 un audited
Attachment 2:
List of the NAPAN
Group Members
ACRINDONUSA FIBRE PRATAMA, P.T. (Acrylic Fibre Manufacturing)
ADHIKARA SANDIKA, P.T. (Rubber Thread Manufacturing)
ADIKARSA RAYAPRIMA, P.T. (Trading and Suppliers)
ADIKRIDA PRIMALESTARI, P.T. (Trading and Suppliers)
AMCOL HOLDING (S) PTE. LTD., Singapore (Investment Holding)
ANDALAN PRIMULA, P.T. (Investment
Holding)
ARCOM PRIMANTARA SYSTEMS, P.T. (Agency and Distribution of Computers and
Peripherals)
ARGA INDAH PRATAMA, P.T. (Housing Development)
ARGA MOLEK KENCANA, P.T. (Real Estate Development)
ARGHA KARYA PRIMA INDUSTRY Tbk., P.T. (Oriented Polypropylene Film
Manufacturing)
ARGHA SEALINDOPRIMA INDUSTRY, P.T. (Automotive Seal Manufacturing)
ASIAN CONRAD HOLDING Ltd., British Virgin Island (Investment Holding)
ASTENIA, P.T. (Investment Holding)
BAHANAJAYA ADISAKTI, P.T. (General Contracting, Trading and
Transportation Service)
BATAVIA CITY REALTY, P.T. (Properties Development and Management)
BHASKARA DUNIAJAYA, P.T. (Investment Holding)
BHUMANDALA AGUNG, P.T. (Investment Holding)
BINA TAMBAK LESTARI, P.T. (Shrimp Culture)
BRANTA MULIA Tbk., P.T. (Nylon Tyre Cord Manufacturing)
BRANTA MULIA MALAYSIA, Malaysia (Nylon Tyre Cord Manufacturing)
BRANTA MULIA TEIJIN INDONESIA, P.T. (Nylon Filament Yarns Manufacturing)
BUMI LESTARI ABADI, P.T. (Housing Development)
CATERISON SUKSES, P.T. (Country Club Management)
CENTRALINDO PANCASAKTI, P.T. (Cellular Telephone Operator and Investment
Holding)
CITRA MARGA NUSAPHALA PERSADA, P.T. (Toll Road Management)
DERMAGA PERKASA PRATAMA,
P.T. (Coal Terminal Management)
DJATI YUDHA CELLULAR, P.T. (Telecommunication Development)
DUABANU INTERNUSA, P.T. (Granite Mining and Processing)
DUTA NUSABINA LESTARI, P.T. (Property Management)
DUTA PERKASA UNGGULESTARI, P.T. (Real Estate Management)
ELANGMAS PERKASA SEJATI,
P.T. (Industrial Estate Management)
FOREVERGREEN INTERNATIONAL, P.T. (International Restaurant)
GITANIRWANA MANDRASAKTI, P.T. (Investment Holding)
GOLDEN POLINDO INDUSTRIES PTE, LTD., China (BOPP Film Manufacturing)
HARTINDO CHEMICATAMA INDUSTRI, P.T. (Chemicals for Fire Extinguisher
Manufacturing)
INDOALUM INTIKARSA INDUSTRY, P.T. (Aluminum Sheet and Foil Industry)
INDOCITRA GRAHABAWANA, P.T. (Property Management and Development)
INDOFIRST NUSANTARA SYNTHETIC RUBBER, P.T. (Styrene Butadiene Rubber
Industry)
INDOPOLY SWAKARSA INDUSTRY Tbk, P.T. (BOPP Film Manufacturing)
INTERNATIONAL RESOURCES CORPORATION, USA, (Trading)
INTERNATIONAL REOURCES (HK) LTD., Hongkong, (Trading)
INTINUSA SELAREKSA Tbk., P.T. (Integrated Natural Granite Processor)
INTI PINCURANMAS NUGRAHA, P.T. (Investment Holding)
JANGGALA PRIMA, P.T. (Trading and Suppliers)
JAPAN TRAVEL BUREAU INDONESIA, P.T. (Travel Agency)
KARYA YUDHA SAKTI, P.T. (Housing Development)
KEMAYORANLAND Corporation, P.T. (Property Management)
KUNINGAN PROPERTAMA, P.T. (Property Development and Management)
LAYANG KENCANA PRIMA, P.T. (Trading and Supplier)
LONDON SUMATRA INDONESIA, P.T. Perusahaan Perkebunan (Integrated Cocoa,
Palm Oil, Coffee, Tea and Rubber Plantation and Investment Holding)
LUMBUNG NASIONAL FLOUR MILL, P.T. (Wheat Flour Mill)
MATAHARI LINTAS CAKRAWALA, P.T. (Direct Broadcasting Satellite
Television Services)
MAG INDONESIA CITRA, P.T. (Sub Assy and Electronic Component
Manufacturing)
MEGACITY DEVELOPMENT CORPORATION, P.T. (Apartment Developer Management)
MEGATAMA RAYA, P.T. (Consulting)
MULTI BATURA UTAMA, P.T. (General Trading, Exporters, Suppliers and
Distributors)
MULTI GRANITINDO UTAMA, P.T. (Granite Mining and Processing)
MULTI HARAPAN UTAMA, P.T. (Trading)
MULTI MEDIA NUSANTARA, P.T. (Pay TV Cable and Multimedia Provider)
MURNICIPTA SENTOSA, P.T. (Investment Holding)
NALCO PERKASA, P.T. (Industrial Chemical Formulation)
NAWA PANDUTA, P.T. (General Trading and Investment Holding)
NUGRAHABUANA BUMINUSA, P.T. (Granite Mining and Processing)
NUSATEL YUDHA BHAKTI, P.T. (Telecommunication Contracting)
PAN LONDON SUMATRA PLANTATION, P.T. (Investment Holding)
PANCA PURI PERKASA INDAH,
P.T. (Industrial Estate Management)
PERKASA STERILINDO, P.T. (Sterilization Service)
PETRA NADA KENCANA, P.T. (Graphite Electrodes Manufacturing)
POLYPRIMA KARYAREKSA, P.T. (Purified Terephthalic Acid (PTA) Processing)
PRISMATAMA NUGRAHA, P.T. (Trading and Suppliers)
POLYPET KARYAPERSADA, P.T. (Polyethylene Therephtalate Industry)
PRAJA PURI INDAH, P.T. (Shopping Centre and Industrial Estate
Development)
PRIMA INTERLOKASI, P.T. (Trading and Suppliers)
PRIMA CITRA ELOK, P.T. (Trading and Suppliers)
PRIMANUSA INDONESIA, P.T. (Investment Holding)
PRISMATAMA PERMAI, P.T. (Investment Holding)
PUTRAMITA LUHURSEJATI, P.T. (Investment Holding)
RAYAPRIMA LESTARI, P.T. (Trading and Suppliers)
REXFORD PRATAMA, P.T. (Trading, Supplier and Distributor)
RIAUALAM ANUGERAH INDONESIA, P.T. (Granite Mining and Processing)
SAHAMAS ARTANUSA, P.T. (Stock Exchange Brokerage Services)
SARILEMBAH TIRTA HIJAU, P.T. (Luxury Apartment Management)
SAROTAMA PRIMA PERKASA,
P.T. (Tourism Industry)
SAYAPNUSA PRIMA, P.T. (Trading and Suppliers)
SEMESTAKIMIA RAYA, P.T. (Trading of Industrial Chemicals)
SINAR BENUAPRIMA, P.T. (Coal Mining and Destillation)
STENTA FILMS (Malaysia) Sdn., Bdh., (BOPP Film Manufacturing)
SUMATERA PRIMA FIBREBOARD, P.T. (Medium Density Fibreboard
Manufacturing)
SUPERNOMA, P.T. (Plastic Packaging Industry)
SUPERNOVA FLEXIBLE PACKAGING, P.T. (Plastic Packaging Industry)
SURYA CITRA TELEVISI, P.T. (Commercial Television Broadcasting Services)
SURYANUSA PERKASA, P.T. (Hotelry and Recreation Centre Management)
SUZHOU KUNLENE FILM INDUSTRIES CO, LTD., China (BOPP Film Manufacturing)
SWASTHI PARAMA MULYA, P.T. (Rubber Thread Manufacturing)
THAI BRANTA MULIA CO., LTD., Thailand (Nylon Tyre Cord Manufacturing)
TRANSINDO PUTRA PERKASA, P.T. (Land Transportation)
WIRASWASTA GEMILANG INDONESIA, P.T. (Used Lubricating Oil Refinery)
YUNNAN KUNLENE FILM INDDUSTRIES CO, LTD., China (BOPP Film
Manufacturing)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.