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Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
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Name : |
P.T. GAMA INDAH LESTARI |
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Registered Office : |
Kawasan
Industri Pasir Jaya, Jalan Industri IV Block AH No. 1,
Kelurahan Bunder, Kecamatan Cikupa, Tangerang, 15710, Banten Province |
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Country : |
Indonesia |
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Date of Incorporation : |
19.04.2004 |
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Com. Reg. No.: |
No.
AHU-41589.AH.01.02.TH.2008 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Plastic
Packaging Manufacturing |
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No. of Employees : |
30 |
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 |
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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.
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Source : CIA |
P.T. GAMA INDAH LESTARI
Head Office & Factory
Kawasan
Industri Pasir Jaya
Jalan Industri IV Block AH No. 1
Kelurahan Bunder, Kecamatan Cikupa
Tangerang, 15710
Banten
Province
Indonesia
Phones -
(62-21) 5905638 (Hunting)
Fax - (62-21) 5905637
E-mail - sierra@cbn.net.id
Land Area - 2,000 sq.
meters
Building Space - 1,200 sq. meters
Region - Industrial
Estate
Status - Owned
19
April 2004
P.T.
(Perseroan Terbatas) or Limited Liability Company
The Ministry of Law and Human Rights
- No. C-16319 HT.01.01.TH.2004
Dated 30 June 2004
- No. AHU-41589.AH.01.02.TH.2008
Dated 16 July 2008
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 02.289.512.2-451.000
The Department of Industry and Trade
TDP
No. 300312506125
Dated
6 March 2006
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued
Capital :
Rp. 500,000,000.-
Paid
up Capital :
Rp. 500,000,000.-
Shareholders/Owners
:
a. Mr. Suryadi Tjakrawadi -
Rp. 250,000,000.-
Address : Taman Harapan Indah E 61
Kelurahan Jelambar Baru, Kecamatan
Grogol Petamburan Jakarta Barat
Indonesia
b. Mr. Mulyadi Tjakrawadi -
Rp. 250,000,000.-
Address :
Taman Harapan Indah E 61
Kelurahan Jelambar Baru, Kecamatan
Grogol Petamburan Jakarta Barat
Indonesia
Lines
of Business :
Plastic
Packaging Manufacturing
Production
Capacity :
Plastic
Bags (Shopping Bags) - 280 tons
p.a.
Total
Investment :
Owned
Capital -
Rp. 1.0 billion
Started
Operation :
2004
Brand
Name :
Gama
Indah Lestari
Technical
Assistance :
None
Number
of Employee :
30
persons
Marketing
Area :
Local - 100%
Main
Customer :
Matahari
Hypermartket, etc
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. DUNIA PRIMA DAMAI
b. P.T. MULTIPLASTINDO
c. P.T. MURNI MAPAN INDAH
d. P.T. PANCA BUDI PRATAMA
e. P.T. SIUSCO PERSADA MANDIRI
Business
Trend :
Growing
B
a n k e r :
P.T.
Bank CENTRAL ASIA Tbk
Jalan Raya Serang Km. 11
Cikupa, Tangerang
Banten
Province
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2010
– Rp. 7.5 billion
2011
– Rp. 8.3 billion
2012
– Rp. 9.5 billion
Net
Profit (estimated) :
2010
– Rp. 0.6 billion
2011
– Rp. 0.7 billion
2012
– Rp. 0.8 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Suryadi Tjakrawadi
Board of Commissioners :
Commissioner - Mr. Mulyadi Tjakrawadi
Signatories :
Director
(Mr. Suryadi Tjakrawadi) 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
The
correct name of the Subject is P.T. GAMA INDAH LESTARI not P.T. GRAMA INDAH
LESTARI as stated in your order ref. no. 232730 dated 14 August 2013. According
investigation through the address located at Jalan Agung Timur IX Block 01 No.
31-33 is registered on P.T. PANELINDO UTAMALESTARI.
P.T.
GAMA INDAH LESTARI (P.T. GIL) was established in Tangerang, Banten Province
based on notary deed of Mrs. Rose Takarina, SH., No. 17 dated 19 April 2004
with the authorized capital of Rp. 1,000,000,000 issued capital of Rp.
500,000,000 fully and paid up. The founding and shareholders of the company are
Mr. Suryadi Tjakrawadi (51%) and his young brother Mr. Mulyadi Tjakrawadi
(49%), both are Indonesian business family of Chinese descents. The company
notary deed had been changed and according to the revision of notary documents
of Mrs. Rose Takarina, SH., No. 4 dated 2 July 2008 the company board of
director and the board of commissioner reappointed to lead and runs of the
company’s operation. The deed of amendments was approved by the Ministry of Law
and Human Rights in its decision letter No. AHU-41589.AH.01.02.TH.2008 dated
July 16, 2008.
P.T.
GIL has been operating since 2004 engaged in the field of plastic packaging
manufacturing by taking over the activity of GAMA INDAH Perusahaan Plastic, a
sole proprietary company which operating in 1989. The plant is located at
Kawasan Industri Pasir Jaya, Jalan Industri IV Block AH No. 1, Tangerang,
Banten Province standing on a land of 2,000 sq. meters. The plant produces of
plastic bags (shopping bags) with capacity of 280 tons respectively per annum.
Most of raw materials like polypropylene, HDPE and others is obtained from locals.
Construction of the plant has absorbed an investment of Rp. 1.0 billion
originally come from own capital. Mrs. Nina, marketing staff of the company
went on to say that the whole shopping bags supplied in the country especially
to hypermarket, supermarkets, mini markets in Jakarta among others MATAHARI
HYPERMARKET across in the country. Besides the company also supplied the
products based on job order basis from mini market in Jakarta, Bandung, and
Sumatera. We observe that P.T. GIL is classified a small size company of its
kinds which operation has been growing slowly in the last three years.
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.
Until
this time P.T. GIL has not been registered with Indonesian Stock Exchange, so
that they had not obliged to announce their financial statement. The management of P.T. GIL 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. 7.5 billion
rose to Rp. 8.3 billion in 2011 increased to Rp. 9.5 billion in 2012 and
projected to go on rising by at least 5% in 2013. The operation in 2012 yielded
an estimated net profit of at least Rp. 0.8 billion and the company has an
estimated total networth of at least Rp. 2.8 billion. 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. GIL is led by Mr. Suryadi Tjakrawadi (42) a businessman with
experience in plastic packaging manufacturing and trading. 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. GAMA INDAH
LESTARI is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.57 |
|
UK Pound |
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
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 |
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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 |
|
<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.