|
Report Date : |
06.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PINDO DELI
PULP AND PAPER MILLS |
|
|
|
|
Registered Office : |
Plaza BII
Menara 2, 7th Floor Jalan M.H.Thamrin No. 51 Jakarta Pusat, 10350 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
31.01.1975 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
·Integrated Pulp and Paper
Industry ·Investment Holding |
|
|
|
|
No. of Employees : |
11,113 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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
P.T. PINDO DELI PULP
AND PAPER MILLS
Head Office
Plaza BII Menara
2, 7th Floor
Jalan M.H.Thamrin No. 51
Jakarta Pusat,
10350
Indonesia
Phone -
(62-21) 3929001-3 (Hunting), 3929266, 3929267-69
Fax - (62-21) 3927685
E-mail - info@asiapulppaper.com
Website - http://www.asiapuppaper.com
Building Area - 28 storey
Office Space - 2,600 sq.
meters
Region - Commercial
Status - Owned
Factories
a. Jalan Prof. Dr. Ir. H. Soetami No. 88
Kampung Teluk Jamer Johar
Karawang
West Java
Indonesia
Phone - (62-267) 402355, 402553
Fax -
(62-267) 405250, 402359
Land Area - 26,500 sq. meters
Building Space - 44,000 sq. meters
Region -
Industrial Zone
Status - Owned
b. Jalan Kuta Mekar
Kec. Teluk Jambe
Karawang 41313
West Java
Indonesia
Phone - (62-761) 91039, 91088
Fax -
(62-761) 91373, 91376
Land Area - 19,500 sq. meters
Building Space - 45,000 sq. meters
Region - Industrial Zone
Status - Owned
31 January 1975
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of Laws and Human Rights
- No. Y.A.5/365/16
Dated 27 July 1976
- No. AHU-78587.AH.01.02.Tahun 2008
Dated 27 October 2008
- No. AHU-AH.01.10-03340
Dated 9 February 2010
- No. AHU-AH.01.10-30646
Dated 1 September 2011
- No. AHU-AH.01.10-32274
Dated 4 September 2012
Foreign Investment (PMA) Company
The Department of Finance
NPWP No. 01.001.855.4-092.000
No. B-246/Pres/10/1992
Dated 22 October 1992
The Capital Investment
Coordinating Board
- No. 06/V/PMDN/1997
Dated 28 February 1997
- No. 597/III/PMDN/1997
Dated 3 December 1997
- No. 265/III/PMDN/1999
Dated 4 October 1999
- No. 80/III/PMDN/2001
Dated 3 May 2001
- No. 19/III/PMDN/2002
Dated 1 February 2002
- No. 83/II/PMDN/2006
Dated 1 September 2006
The Department of Industry
and Trade
- SIUP No. 0716/PMDN/1982
Dated 16 April 1982
- No. 163/M/SK/5/86
Dated 10 May 1986
A Member Company of the SINAR MAS Group (see attachment)
|
CAPITAL AND OWNERSHIP |
Capital Structure :
Authorized Capital :
Rp. 8,000,000,000,000.-
Issued Capital :
Rp. 2,281,785,000,000.-
Paid up Capital :
Rp. 2,281,785,000,000.-
Shareholders/Owners :
a. P.T. PURINUSA EKAPERSADA of Indonesia - Rp. 2,230,021,000,000.-
b. P.T. MEGA KLEENINDO of Indonesia - Rp. 19,426,000,000.-
c. P.T.
UNITAMA SARTINDO of Indonesia -
Rp. 12,935,000,000.-
d. P.T. MARIMBA NUGRAHATAMA of Indonesia - Rp.
12,935,000,000.-
e. P.T. INTRYANE SANTURA of Indonesia - Rp. 6,468,000,000.-
Lines of
Business :
a. Integrated Pulp and Paper Industry
b. Investment Holding
Production
Capacity :
A. Initial Plant
a. Culturing (Writing & Printing) &
Industrial Papers - 782,000 tons p.a.
b. Tissue Papers - 180,000 tons
p.a.
c. Calcium
Carbonates -
100,000 tons p.a.
d. Caustic Soda (NaOH) - 80,000 tons p.a.
e. Chlorine (C12) - 12,000 tons p.a.
f. Chloride Acids - 100,000 tons
p.a.
g. Sodium Hypochloride - 12,000 tons p.a.
h. Corrugated Sheet/Box/Duplex Box - 100,000 tons p.a.
i. Packaging Papers - 6,000 tons p.a.
j. Bleaching Powder/High Strenght Hypochloride -
17,500 tons p.a.
k. Computer Papers - 150,000 tons p.a.
l. Book Covers - 10,000 tons p.a.
m. HVO Papers - 25,000 tons p.a.
n. Wrapping Papers - 10,000 tons p.a.
o. Paper Bags - 15,000 tons p.a.
q. File Holders - 15,000 tons p.a.
r. Gift
Papers (Kado) - 25,000 tons p.a.
s. Self Adhesive Papers - 15,000 tons p.a.
t.
Silicone Papers - 10,000 tons p.a.
u. Stationery/Converting - 25,000 tons p.a.
v. Writing Books - 75,000 tons p.a.
q. Cards - 10,000 tons p.a.
x. Calendars - 15,000 tons p.a.
y. Letter Pad - 10,000 tons p.a.
z. Spiral Books - 25,000 tons p.a.
ab. Special Papers - 15,000 tons p.a.
ac. Cover Notes - 15,000 tons p.a.
ad. Drawing Papers - 20,000 tons p.a.
ae. High Quality Exercise Books - 75,000 tons p.a.
af.
Diary - 30,000 tons p.a.
B. Expansion Plant (2006) Planned
Kawasan Industri Ngoro, East
Java (Factory)
- Jumbo Roll and Tissue Paper
Converting - 1,100,000 tons
p.a.
Makassar, South Sulawesi
(Factory)
- Jumbo Roll and Tissue Paper
Converting - 1,100,000 tons
p.a.
Total
Investment :
A. Initial Plant
a. Equity Capital - Rp. 2,131.8 billion
b. Loan Capital - Rp. 5,733.0 billion
c. Total Investment - Rp. 7,864.8 billion
B. Expansion Plant (2006) Planned
Kawasan Industri Ngoro, East
Java (Factory)
- Owned Capital - Rp. 1,805.6 billion
Makassar, South Sulawesi
(Factory)
- Owned Capital - Rp. 1,128.6 billion
Started
Operation :
1977
Brand Name :
Bola Dunia, Anchor Brand, Betet, Clean Coated Board, Evergreen, Globe
Brand, Golden Art, etc
Technical
Assistance :
None
Number of
Employee :
11,113 persons
Marketing Area
:
Export -
40%
Local - 60%
Main Customers
:
a. P.T. SURYA JAYA PALACE (Distributor)
b. P.T. PERMATA BIRU INDAH
(Distributor)
c. P.T. SUTIO JAYATAMA
(Distributor)
d. P.T. MARGONO
(Distributor)
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. KERTAS LECES (Persero)
b. P.T. RIAU ANDALAN KERTAS
c. P.T. SUPARMA Tbk
d. P.T. SURABAYA AGUNG KERTAS
e. Etc.
Business Trend
:
Fluctuating
B a n k e r s
:
a. P.T. Bank INTERNATIONAL
INDONESIA Tbk
Wisma BII
Jalan
M.H. Thamrin 50
Jakarta
Pusat
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Graha
Niaga
Jalan
Jend. Sudirman Kav. 58
Jakarta
Selatan
Indonesia
c. P.T. Bank MANDIRI Tbk
Plaza Mandiri
Jalan
Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
d. CITIBANK N.A.
Landmark
Centre
Jalan
Jend. Sudirman No. 1
Jakarta
Pusat
Indonesia
e. P.T. Bank SINARMAS Tbk
Wisma Bank Sinarmas, 1st & 2nd Floor
Jalan M.H. Thamrin No. 51
Jakarta Pusat
Indonesia
Auditor :
Tjiendradjaja & Handoko Tomo (Mazars)
Litigation :
The Subject Company was involved in various claims and disputes. (see
Litigation and Claims)
Annual Sales :
2009 – US$ 1,269.7 million
2010 – US$ 1,597.4 million
2011 – US$ 1,718.0 million
2012 – US$ 1,676.3 million
Net Profit :
2009 – US$ 32.8 million
2010 – US$ 85.6 million
2011 – US$ 62.9 million
2012 – US$ 127.8 million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Tsai Huan Chi
Vice President Director - a. Mr. Hendra Jaya
Kosasih
b. Mrs. Indah Suryasari Wijaya Limantara
c. Mrs. Linda Suryasari Wijaya Limantara
Directors - a. Mr. Huang Hua Ching
b. Mr. Agustian Rachmansjah Partawidjaja
c. Mr. Kosim Sutiono
d. Mr. Frenky Loa
e. Mr. Suhendra Wiriadinata
f. Mr.
Yen Tao Chung
Board of Commissioners :
President Commissioner - Mr. Yudi Setiawan Lim
Commissioners - a. Mr. Arthur Tahya
b. Mr. Drs. John F. Pandelaki
c. Mr. Letjend. TNI (Retired) Soetedjo
d. Mr. Drs. Pande Putu Raka, MA
Signatories :
President Director (Mr. Tsai Huan Chi) or one of Vice President Directors
(Mr. Hendra Jaya Kosasih, Mrs. Indah S.W. Limantara, Mrs. Linda S.W. Limantara)
or one of the Directors (Mr. Huang Hua Ching, Mr. Agustian Rachmansjah
Partawidjaja, Mr. Kosim Sutiono, Mr. Frenky Loa, Mr. Suhendra Wiriadinata or
Mr. Yen Tao Chung) which must be approved by the Board of Commissioners.
Management Capability :
Good
Business Morality :
Good
P.T. PINDO DELI PULP AND PAPER MILLS (P.T. PDPPM) was established in
January 1975 with an authorized capital of Rp. 400,000,000 entirely issued and
paid-up. The original founding shareholders of the company are Mr. Rudy
Wirianata AKA Ng Kheng Ho, his younger brother Mr. Sanusi Wirianata AKA Tan Tjin. They
are Chinese origins Indonesia entrepreneurs. The company notary deed has been
changed a couple of times. In February 1994, the authorized capital was raised
to Rp. 100,000,000,000 issued and paid up capital to Rp. 20,000,000,000 and all
shareholders have concurrently resigned and replaced by new shareholders P.T.
KARYANTARA PRAKARSA of Indonesia and SOLIDCLASS INVESTMENTS, Ltd., of Hong
Kong. The company was then converted into a foreign investment (PMA) status.
In December 1994, the authorized capital was raised again to Rp.
500,000,000,000 issued and paid-up capital to Rp. 158,000,000,000. Concurrently
SOLIDCLASS INVESTMENT Ltd., withdrew and replaced by ASIA PULP & PAPER
COMPANY Ltd., of Singapore. In October 1996, the authorized capital increased
to Rp. 2,600,000,000,000 issued capital to Rp. 661,785,000,000 fully paid-up.
Concurrently, ASIA PULP & PAPER COMPANY LTD., of Singapore, pulled out and
P.T. PURINUSA EKAPERSADA of Indonesia entered as new shareholder and as the
same occasion. In early of 1999, the authorized capital of company was
increased to Rp. 8,000,000,000,000 issued capital to Rp. 2,131,785,000,000
entirely paid up. The deed of amendment was made by Mrs. Linda Herawati, SH, a
public notary in Jakarta was approved by the Ministry of Law and Human Rights
in its decision letter No. AHU-78587.AH.01.02.TH.2008 dated October 27, 2008.
Then in January 2010 the issued capital was increased to Rp. 2,281,785,000,000
entirely paid up. The revision of notary documents was made by Mrs. Linda
Herawati, SH., a public notary in Jakarta and was approved by the Ministry of
Law and Human Rights in its decision letter No. AHU-AH.01.10-03340 dated
February 09, 2010.
Then according
to the latest revision of notary documents Mrs. Linda Herawaty, SH., No. 12
dated 7 August 2012 the composition of it’s shareholders are P.T. PURINUSA
EKAPERSADA (97.73%), P.T. MEGA KLEENINDO (0.85%), P.T. MERIMBA NUGRATAMA
(0.57%), P.T. UNITAMA SARTINDO (0.57%) and P.T. UNITRYANE SANTURA (0.28%). The
deed of amendments was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-AH.01.10-32274 dated September 4, 2012.
It seems that
P.T. PURINUSA EKAPERADA is a private national company of which majority shares
is controlled by Mr. Eka Tjipta Widjaja AKA Oei Ek Tjong and his family
members. P.T. PDPPM is a member of the SINAR MAS Group, once over been as a
large business group in the country.
P.T. PDPPM
originally obtained a Foreign Investment (PMA) license for dealing with
integrated pulp and paper manufacturing. The company started with operation in
1977 originally running a plant located at Jalan Prof. Dr. Ir. H. Soetami No.
88, Teluk Jambe, Karawang (West Java) standing on 44.0 hectares land. The plant
has been expanded for increasing total capacity. In October 1995, P.T. PDPPM
again expanded (Pindo 2) located in Desa Kuta Mekar, Kerawang (West Java)
standing on 450 hectares land. The above expansion is including coating paper
(paper/cartoon coated, cast coated paper, carton manila & ivory, fancy
paper/board), uncoated paper (Photocopy, fancy paper/board/cartoon buffalo,
paper/cartoon buffalo) and tissue paper (tissue and litho papers). In September
2006, P.T. PDPPM got an expansion permit to increase production capacity. The
expansion plants will be located at Kawasan Industri Ngoro Persada, Mojokerto,
East Java with an investment of Rp. 1,805.6 bliion and the other plant will be
located at Makassar, South Sulawesi with an investment of Rp. 1,128.6 billion.
The above expansion plants will be produces of jumbo roll and tissue papers
converting. However the above expansion plant has yet been operating up to
present.
Around 60%
products are distributed domestically by using Bola Dunia, Golden Star and
Globe brands (photocopy paper), Golden Coin and Golden Art (art paper/cast
coated) and the rest is exported to South Korea, the People’s Republic of
China, India, Belgium and Turkey. For the marketing of the above products, P.T.
PDPPM appointed a number of local companies as its distributors among others
are P.T. SURYA JAYA PALACE, P.T. PERMATA BIRU INDAH, and P.T. SUTIO JAYATAMA
for Jakarta region, P.T. MARGONO for Semarang (Central Java) and others
spreading several Indonesian major cities. In July 1996, P.T. PDPPM obtained an
ISO 9002, for management and quality accreditation issued by SGS Yarsley
International Certification Services Limited of the UK. We observed that P.T.
PDPPM is classified as a large sized company in the country dealing with
integrated pulp and paper industry of which the operation has been running
smoothly in the last five years.
Besides that,
P.T. PDPPM is also engaged in investment holding by direct ownership 99.83%
shares of P.T. LONTAR PAPYRUS PULP & PAPER INDUSTRY engaged in pulp and
cultural paper making industry; 100% shares of PINDO DELI FINANC B.V.
(Financing Services); 94.84% shares of P.T. KARAWANG EKAWANA NUGRAHA
(Investment Holding); 100% shares of EXCEL INTERNATIONAL Ltd., (Investment) and
100% shares PINDO DELI FINANCE MAURITIUS Ltd. (Financing). Besides, P.T. PDPPM
also holds minority interest 11.01% shares of P.T. ONWARD PAPER UTAMA and
11.65% shares of P.T. ONWARD PAPER CONNVERTING both are dealing with paper
industries.
The national pulp and paper
industries will be better in 2012 than in 2011. Market estimates of production
and sales will be the norm. Additional capacity will continue price of pulp is
still going up although with a slower rise in pulp price increases triggered by
the low stock of pulp due to the hard efforts of pulp mills to reduce
production, to balance the supply-demand, and the purchase of pulp on a large
scale by China also triggered a rise in pulp prices.
Ir. H. M. Mansur, Chairman of
the Presidium APKI (Association of Indonesian Pulp and Paper) said the
increased price of paper is not as big and as fast as the price of pulp,
because the factories are not as intensive as paper pulp mills to reduce
production, so that the paper stock in the world market is still quite great.
Indonesia's pulp paper does not seem necessary to limit and reduce production
because production will be absorbed by the market-domestic and export markets.
Global crisis appears to have started over, things would be normal, production,
consumption and prices will rise again. Indonesia has very good potential to be
leader in the global pulp and paper industry due to its geographical location.
Indonesian Pulp and Paper Production, 2007 – 2012
(Tons)
|
Year |
Pulp Production |
Paper Production |
|
2007 |
5,200,000 |
11,000,000 |
|
2008 |
5,900,000 |
9,7000,000 |
|
2009 |
6,500,000 |
12,200,000 |
|
2010 |
7,900,000 |
12,900,000 |
|
2011 |
7,900,000 |
12,900,000 |
|
2012 |
8,216,000 |
13,416,000 |
Sources: APKI (Indonesian Pulp and
Paper Association
According to
financial report audited by a public accountant the total sales turnover of
P.T. PDPPM in 2008 amounted to US$ 1,316.0 million with a net profit of US$
67.3 million declined to US$ 1,269.7 million with a net profit of US$ 32.8
million in 2009 to US$ 1,597.4 million with a net profit of US$ 85.6 million in
2010 increased to US$ 1,718.0 million with a net profit of US$ 63.0 million in 2011
and projected to go on rising by at least 4% in 2012. Financial statement as of
31 December 2008, 2009 and 2010 are attached. So far we did not heard that P.T.
PDPPM having been black listed by Bank Indonesia (Central Bank).
Litigations and Claims
On or about September 10,
2008, the Defendants, OAKTREE and certain of its affiliates reached an
agreement for a full and final settlement of all litigation and disputes
outstanding between them, including in Indonesia, New York, California and
Singapore. Following the settlement above, on or about April 2, 2009, GREMERCY
ADVISORS (GRAMERY PARTIES) and the Defendants agreed to a full and final global
resolution of all litigation and disputes outstanding, including in the
respective jurisdiction listed above. With respect to the proceedings in New
York and California, the original Plaintiffs have transferred their interests
in relations to such proceedings (to the extent they have such interests) to
other companies.
The management
is headed by Mr. Tsai Huan Chi (58) as President Director, A citizen of the
Republic of China (R.O.C.), born in Taiwan on October 25, 1955. He started his
career in Jek Hsiang Machinery, Taiwan. He served as a Director of PT. Pabrik
Kertas Tjiwi Kimia Tbk (2002-2003) and has been a Vice President Director of
the Company (2003-2006). He was appointed as a President Director of the
Company on January 2006. The management of the company is very experienced in
the paper and pulp industry. They have very wide relations with local and overseas
business groups. They also have cultivated close relations with many
high-ranking officials of government institutions in Jakarta, West Java, Riau
and other provinces of Indonesia. We observed that management’s reputation in
said business is fairly good. So far, we did not hear that the company’s
management involved in a business malpractice or detrimental cases that settled
in the country. P.T. PINDO DELI PULP AND PAPER MILLS is sufficiently fairly
good for business transaction.
PT. PINDO DELI
PULP AND PAPER MILLS and Subsidiaries
Per 31 December
2009, 2010, 2011 and 2012
(In Thousand US$)
|
DESCRIPTION |
31 December |
||||
|
2012 |
2011 |
|
2010 |
2009 |
|
|
A. ASSETS |
|
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
|
- Cash and Cash Available |
86,138 |
89,471 |
91,169 |
44,131 |
|
|
- Short-Term Investment |
0 |
0 |
0 |
0 |
|
|
- Trade Receivable |
|
|
|
|
|
|
* Third Parties |
110,104 |
86,755 |
125,448 |
47,857 |
|
|
* Related
Parties |
24,652 |
29,999 |
72,603 |
89,643 |
|
|
-
Due to Related Parties |
0 |
0 |
0 |
0 |
|
|
- Other Receivable |
7,774 |
2,200 |
2,440 |
2,718 |
|
|
- Inventories |
326,683 |
331,757 |
291,775 |
232,789 |
|
|
- Advance Purchases |
39,445 |
40,328 |
20,666 |
10,222 |
|
|
- Prepaid Taxes |
12,460 |
10,347 |
27,894 |
21,256 |
|
|
- Prepaid Expenses |
15,926 |
41,602 |
36,864 |
18,604 |
|
|
- Other Current Assets |
732,833 |
591,100 |
278,600 |
207,381 |
|
|
Total Current Assets |
1,356,015 |
1,223,559 |
947,664 |
674,601 |
|
|
b. Non Current Assets |
|
|
|
|
|
|
- Deferred tax asset - net |
- |
- |
- |
- |
|
|
- Due from related parties |
103,353 |
104,375 |
103,323 |
104,285 |
|
|
- Guarantee for long-term purchase |
76,576 |
76,576 |
76,576 |
76,576 |
|
|
- Investment in Associated Companies |
17 |
17 |
17 |
17 |
|
|
- Fixed Asset-Net |
2,074,789 |
2,024,073 |
2,048,552 |
2,065,533 |
|
|
- Other Assets |
231,577 |
243,172 |
170,292 |
122,530 |
|
|
Total Non Current
Assets |
2,486,312 |
2,448,213 |
2,398,760 |
2,368,941 |
|
|
TOTAL
LIABILITIES TOTAL ASSETS = &
STOCKHOLDERS’
EQUITY |
3,842,327 |
3,671,772 |
3,346,424 |
3,043,542 |
|
|
B. LIABILITIES &
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
|
-
Short-Term Loan |
673,312 |
523,604 |
251,345 |
190,439 |
|
|
- Trade Liabilities |
|
|
|
|
|
|
* Third Parties |
71,444 |
70,196 |
90,633 |
62,021 |
|
|
* Related
Parties |
38,334 |
162,557 |
134,781 |
170,169 |
|
|
- Tax payables |
10,334 |
10,155 |
6,662 |
1,684 |
|
|
- Accrued Expenses |
74,896 |
61,981 |
81,345 |
105,466 |
|
|
- Advance from customers |
105,619 |
82,026 |
27,273 |
2,192 |
|
|
- Other Liabilities |
23,121 |
16,294 |
14,162 |
14,855 |
|
|
- Current Maturity of Long Term Loans |
305,994 |
523,634 |
577,532 |
399,905 |
|
|
Total Current
Liabilities |
1,303,054 |
1,450,447 |
1,183,733 |
946,731 |
|
|
b. Non Current Liabilities |
|
|
|
|
|
|
- Due to Related Parties |
23,274 |
27,847 |
19,288 |
20,903 |
|
|
-
Deferred Tax Liabilities |
117,580 |
121,322 |
118,827 |
84,610 |
|
|
- Negative Goodwill |
- |
- |
5,564 |
6,589 |
|
|
- Provision for Employee Benefit |
38,341 |
35,634 |
31,695 |
26,430 |
|
|
- Long Term Liabilities |
1,767,664 |
1,789,569 |
1,285,195 |
1,331,715 |
|
|
Total Non Current
Liabilities |
1,640,865 |
1,450,738 |
1,460,569 |
1,470,247 |
|
|
|
|
|
|
|
|
|
c. Minority Interest |
- |
- |
945 |
766 |
|
|
d. Stockholders Equity |
|
|
|
|
|
|
- Issued and Paid Up Capital |
807,275 |
807,275 |
807,275 |
807,275 |
|
|
- Loss from Securities bill not realization
yet |
0 |
0 |
0 |
0 |
|
|
- Difference in value from restructuring |
52,436 |
52,436 |
52,436 |
52,436 |
|
|
- Retained Earnings (Deficit) |
897,519 |
769,532 |
(158,534) |
(233,913) |
|
|
Total Equity |
898,408 |
770,587 |
701,177 |
625,798 |
|
|
C. INCOME STATEMENTS |
|
|
|
|
|
|
a. Sales – Net |
1,676,354 |
1,718,018 |
1,597,458 |
1,269,743 |
|
|
b. Cost of Goods Sold |
(1,342,087) |
(1,401,115) |
(1,269,189) |
(1,028,504) |
|
|
c. Gross Profit |
334,267 |
316,903 |
328,269 |
241,239 |
|
|
d. Operating Expenses |
(167,104) |
(179,376) |
(146,270) |
(117,038) |
|
|
e. Operating Profit |
167,163 |
137,527 |
181,999 |
124,201 |
|
|
f. Other Income (Expenses) |
(28,328) |
(56,569) |
(58,486) |
(71,701) |
|
|
g. Profit before Income Tax |
138,835 |
80,956 |
123,513 |
52,500 |
|
|
h. Income Tax |
(11,014) |
(18,057) |
(37,707) |
(29,092) |
|
|
i. Profit before Minority Interest |
- |
- |
85,627 |
23,408 |
|
|
j. Minority Interest |
- |
- |
(179) |
216 |
|
|
k.
Net Profit |
127,821 |
62,901 |
85,627 |
32,806 |
|
Note: 31 December
2009, 2010, 2011 and 2012 aaudited by Tjendradjaja & Handoko Tomo (Maizars)
List of the
SINAR MAS Group Members
1. ABHIPRAYA INSAN PERKASA, P.T. (Sugar Refinery)
2.
ABSINARMAS MULTIFINANCE, P.T. (Financing Services)
3.
AGROCARB INDONESIA, P.T. (Pesticide Formulation)
4.
ALAM INDAH INDO MAKMUR, P.T. (Trading and Mixed Fertilizer
Processing)
5.
ALPHA TANJUNG TANGKI, P.T. Perusahaan Bongkar Muat
(Stevedoring Services)
6.
ANEKA SARAKINDO, P.T. (Investment Holding)
7.
ARARA ABADI, P.T. (Forestry and Peat Mining)
8.
ARGO INTIM RESPATI, P.T. (Oil Palm Plantation and Palm Oil
Processing)
9.
ARGO PANCA MODERN, P.T. (Oil Palm Plantation and Palm Oil
Processing
10.
ARGOPURO, P.T. (Land Transportation)
11.
ARTA CUPU KENCANA MONEY CHANGER, P.T. (Money Changer)
12.
ASIA PULP & PAPER CO., LTD. (Investment Holding)
13.
ASIA TRADE LOGISTICS (International Freight Forwarder)
14.
ASIAN DEVELOPMENT SECURITIES, P.T. (Brokerage and
Underwriter Activities)
15.
ASIANINDO UNITRADA, P.T. (Softdrink Industry)
16.
ASPIRASI LUHUR, P.T. (Investment Holding)
17.
BERSAMA SEJAHTERA SAKTI, P.T. (Oil Palm Plantation and Palm
Oil Processing)
18.
BHAKTI BERSAMA MAKMUR, P.T. (Soybean Flour Milling and
Soybean Based Cooking Oil Management)
19.
BHAKTI BERSAMA SEJAHTERA, P.T. (Soybean Flour Milling and
Soybean Based Cooking Oil Refinery)
20.
BII COMMONDEALTH Bank, P.T. (Banking)
21.
BII FINANCE CENTER, P.T. (Multi Financing Services)
22.
BII LEND LEASE INVESTMENT SERVICES, P.T. (Financing and
Securities Services)
23.
BII FINANCE (Hong Kong) Co., Ltd. (Merchant Banking, Centre
Management)
24.
BINA SINAR AMITY, P.T. (Warehouse Container Management and
Freight Forwarder)
25.
BINA SINAR UTAMA, P.T. (Container Transportation and
Document Handling Services)
26.
BONO CORPORATION INTERNATIONAL LTD. Hong Kong (Property Management)
27.
BORNEO PULP & PAPER SDN. BHD., Malaysia (Pulp and Paper
Manufacturing and Industrial Forestation)
28.
BUANA EKA GANDA, P.T. (Industrial Estate Management)
29.
BUANA WIRALESTARI, P.T. (Oil Palm Plantation and Palm Oil
Refinery)
30.
BUMIMAS MEGAHPRIMA, P.T. (Shopping Centre and Apartments
Development and Management)
31.
BUMI PERMAI LESTARI, P.T. (Oil Palm Plantation and Palm Oil
Processing)
32.
BUMI SAWIT PERMAI, P.T. (Oilpalm Plantation and Palm Oil
Refinery)
33.
BUMI SERPONG DAMAI, P.T. (Real Estate Development)
34.
BUMI SHANGRIL LA JAYA, P.T. (Real Estate Development)
35. CAHAYA ANEKA KIMIA PERKASA, P.T. (Trading)
36.
CAHAYA INTI PERKASA, P.T. (Palm Kernel Oil Extraction and
Palm Kernel Palletizing)
37.
CAHAYA LESTARI SANTOSA, P.T. (Housing Development)
38.
CAHAYA MAS JAYA, P.T. (Real Estate Development)
39.
CAHAYA MAS, P.T. (Trading)
40.
CENDRAGO UTAMA, P.T. (Oil Palm Plantation and Palm Oil
Processing)
41.
CHINA STRATEBIC INVESTMENT CORPORATION (Investment Holding)
42.
CHIP LIAN (Pte) Ltd. Singapore (Trading and Investment
Holding)
43.
CHIP LIAN INVESTMENT (the USA) Inc., Property Management and
Investment)
44.
CISCO MAS SECURITAMA, P.T. (Commodities Transportation
Security)
45.
CITRA PERMATA SAKTI PERSADA, P.T. (Real Estate Development
and Driving License Services)
46.
CITRA SIMAS ARTHA, P.T. (Management Information System
Services)
47.
COLVEX JAYA, P.T. (Palm Oil Plantation and Processing Plant)
48.
CREDIT LYONNAIS INDONESIA, P.T. Bank (Banking)
49.
CULINDO, P.T. (Pig Farming)
50.
DADI CORPORATION N.V. (Trading)
51.
DAIRYVILLE, P.T. (Ice Cream Manufacturing)
52.
DAYANETWORK LESTARI, P.T. (Financing Services)
53.
DAYA SINAR MAS, P.T. (Woodworking)
54.
DHAI SIN, (Pte) Co., Ltd. Singapore (Trading)
55.
DIAN TARUNAGUNA, P.T. (Trading and Distribution of Cosmetic
Products)
56.
DJAKARTA 1945, P.T. Maskapai Asuransi (Sea and Fire
Insurance)
57.
DJUANDASAWIT LESTARI, P.T. (Integrated Palm oil Refinery)
58.
DUTA DHARMA BHAKTI, P.T. (Low Cost Housing Development)
59.
DUTA PERTIWI Tbk., P.T. (Properties Development and
Management; Investment Holding)
60.
DWIMAS INTIWISESA, P.T. (Financing Services)
61.
EKA LIFE, P.T. Asuransi Jiwa (Life Insurance Service)
62.
EKAMAS FORTUNA, P.T. (Corrugated Medium Paper Making
Manufacturing)
63.
EKO RAYON, P.T. (Viscose Rayon, Staple Fibre and Pulp Rayon
Manufacturing)
64.
ELANG PERMATA, P.T. (General Contracting and
Telecommunication Development)
65.
ERIHATU, P.T. (Logging)
66. ESA SINAR PERKASA, P.T. (Trading)
67.
EXCOMM REMAJA, P.T. (Trading and Investment Holding)
68.
FERRO MAS DINAMIKA, P.T. (Ceramic and Enamel Frits Industry)
69.
FINDECO JAYA, P.T. (Alkyl Benzene Sulfonate Processing)
70.
FILMA, P.T. (Coconut Oil Based Cooking Oil Refinery)
71.
FORESTALESTARI DWIKARYA, P.T. (Integrated Palm Oil Refinery)
72.
FUJI INTERNATIONAL INDONESIA, P.T. Bank (Banking)
73.
GAJAH PERDANA INDAH, P.T. (Housing Development)
74.
GELORA MUDA PERKASA, P.T. (Palm Kernel Oil Extraction and
Palm Kernel Meal Processing)
75.
GEMA KREASI, P.T. (Real Estate Management)
76. GLOBAL AGRONUSA INDONESIA, P.T. (Banana Plantation)
77.
GOLDEN AMCOL Pte. Ltd. (Manufacturing of Electronics,
Electrical Household Appliances, Electrical Equipment, Lighting Equipment,
Property Development and Investment Holding)
78.
GRAHAMAS INDOJAYA, P.T. (Transportation)
79.
GREEN WINDHU LINES, P.T. (Special Shipping)
80.
GRIYAMAS ADIPRATAMA, P.T. (Real Estate and Developer)
81.
GUNUNG MAS RAYA, P.T. (Rubber and Oil Palm Plantation)
82.
HADEKA FEEDMILL, P.T. (Animal Feed Milling)
83.
HARAPAN ANANG BAKRI & SON'S, P.T. (Industrial Estate
Development and Management)
84.
HARMONI MAS, P.T. (Housing Development)
85.
HARMONI SEJAHTERA, P.T. (Housing Development)
86.
HASTA BUANA MANDIRI, P.T. (Trading)
87.
HASTA DHARMA KARYA, P.T. (General Contracting and Trading)
88.
HENKEL INDONESIA, P.T. (Industrial Chemical Processing)
89.
HERCULES MAS INDONESIA, P.T. (Industrial Chemical
Processing)
90.
HIAP CHUN TIMBER (Pte) Ltd. (Trading)
91.
HONGKONG UNION BANK CO., LTD. (Banking)
92.
HONGZHOU ZHONGCE RUBBER CO., LTD. (Manufacturing of Motorcar
Tubes and Tyres and Rubber Components)
93.
HORIGUCHI ENGINEERING INDONESIA, P.T. (Machinery and Heavy
Equipment Maintaining Services)
94.
IBI FAR EAST (Hong Kong) Co., Ltd. (Property and Securities)
95.
INDAH KIAT PULP & PAPER Tbk., P.T. (Integrated Paper
Making and Pulp Processing)
96.
INDOJAYA MARKONRAD, P.T. (Trading)
97.
INDRI PLANT, P.T. (Oil Palm Plantation)
98. INDOMILK, P.T. (Milk Processing)
99. INTERCIPTA KIMIA PRATAMA, P.T. (Paper Chemicals
Processing)
100.
INTERMAS TATA TRADING, P.T. (Distribution of Cooking Oils)
101.
INTERNATIONAL INDONESIA, P.T. Bank (Banking)
102.
INTERNATIONAL MONEY CHANGER, C.V. (Money Changer)
103.
INTERNATIONAL NINGBO Bank (China), (Banking)
104.
INTI GERAKMAJU, P.T. (Oil Palm and Coconut Plantation)
105.
INTITAMA MAS, P.T. (Cold Rolled Stainless Steel Coils/Sheets
Manufacturing)
106.
ISTANA MUTIARA MAS, P.T. (Liquid Tanker Shipping)
107.
IVOMAS TRADING, P.T. (Trading and Suppliers)
108.
IVO MAS TUNGGAL, P.T. (Palm Oil Based Cooking Oil Refinery
and Oil Palm Plantation)
109.
JAGOTAMA INDAH RATTAN INDUSTRIES, P.T. (Rattan Furniture
Manufacturing)
110.
JATI CAHAYA CEMERLANG PLYWOOD, P.T. (Integrated Woodbased
Industry)
111.
JATI DHARMA INDAH PLYWOOD INDUSTRIES, P.T. (Integrated
Woodbased Industry)
112.
JATI MALUKU TIMBER, P.T. (Logging, Sawmilling and Shipping)
113.
JATI MULIA SEMESTA, P.T. (Plywood Industry)
114.
JU LIE (Pte) Co. Ltd. Singapore (Trading)
115.
KALI BESAR RAYA UTAMA, P.T. (Insurance Brokerage Services)
116.
KARTIKA INTI PERKASA, P.T. (Palm Plantation)
117.
KARYA DUNIA MAKMUR, P.T. Perusahaan Bongkar Muat
(Stevedoring Services)
118.
KARAWANG TATABINA INDUSTRIAL ESTATE, P.T. (Industrial Estate
Management and Development)
119.
KELAPA MURNI, P.T. (Coconut Oil Refinery)
120.
KEMAKMURAN TANITERNA INDONESIA, P.T. (Integrated Poultry
Farming)
121.
KERTAS INDAH, P.T. (Trading)
122.
KOPO PERMAI, P.T. (Housing Development)
123.
KRAWANG BUKIT GOLF, P.T. (Golf Course and Real Estate
Management)
124.
KRESNA DUTA AGROINDO, P.T. (Oil Palm Plantation and
Refinery)
125.
LEIDONG KREASITAMA, P.T. Maskapai Perkebunan (Oilpalm
Plantation and Palm Oil Refinery)
126. LAHAN TANI SAKTI, P.T. (Oil Palm Plantation)
127.
LANGGENG KREASITAMA, P.T. (Adhesive Glue Manufacturing)
128.
LLOYD INDONESIA, P.T. (Sea and Fire Insurance)
129.
LONTAR PAPYRUS PULP & PAPER INDUSTRY, P.T. (Pulp and
Paper Industry, Industrial Chemical Processing)
130.
MAKINDO PERKASA, P.T. (Industrial Power Engine Agent and
Distribution)
131.
MALIGI PERMATA INDUSTRIAL ESTATE, P.T. (Industrial Park
Development and Management)
132.
MAKTO JAYA, P.T.
(Trading)
133.
MARGA TULUS ENTERPRISE LTD., P.T. (Leasing)
134.
MARISON NUSANTARA AGENCY, P.T. (Investment Holding)
135.
MASKAPAI PERKEBUNAN LEIDONG WEST INDONESIA, P.T. (Oil Palm
Plantation)
136.
MEDISON SECURITIES LTD. Hong Kong (Property and Security)
137.
MEGAH UTAMA MOTOR, P.T. (Car Distribution)
138.
MENARA MAJU, P.T. (Trading and Distributor)
139.
MITRA ADIGUNA SENTOSA, P.T. (Printing & Corrugated
Packaging Manufacturing)
140.
MITRABANGUN ADIGRAHA, P.T. (Contracting Services)
141.
MITRA NUGRAHA, P.T. (Plastic Container Manufacturing)
142.
MULTIMAS DINAMIKA, P.T. (Ceramic Goods Manufacturing)
143.
MURINI TIMBER, P.T. (Woodbased Industry)
144.
MUSTIKA ARTA MAS, P.T. (Investment Holding)
145.
MUTIGUNA PERKASA INDONUSA, P.T. (Trading)
146.
NALA VINI EKA BEVERAGES, P.T. (Carbonated Softdrink
Industry)
147.
NILAM TERANG OFFSET PRINTING, P.T. (Graphic Printing and
Fire Packaging)
148.
NINGBO INTERNATIONAL BANK LTD. (Banking)
149.
NINGBO PULP AND PAPER CO., LTD. (Pulp and Paper
Manufacturing, Corrugated Carton Box Making and Packaging)
150.
NUMBING JAYA, P.T. (Oil Palm Plantation)
151.
NUSA PIRANTI RIANA, P.T. (Industrial Chemical Manufacturing
and Trading)
152.
ONWARD PAPER CORPORATION, P.T. (Sanitary Napkin and Tissue
Paper Manufacturing)
153.
ORIENTAL INDAH BALI HOTEL, P.T. (Hotelry)
154.
OTO MULTIARTHA, P.T. (Consumer Finance Services)
155.
PAKUAN REAL ESTATE, P.T. (Real Estate Development)
156.
PALMINDO RAYA, P.T. (Oil Palm Plantation and Palm Oil
Processing)
157.
PANGERAN PLAZA UTAMA, P.T. (Real Estate Development)
158.
PARAGA ARTAMIDA, P.T. (Investment Holding)
159.
PERBAWA DUTA PERSADA, P.T. (Trading)
160.
PERWITA MARGASAKTI, P.T. (Real Estate Development)
161.
PETRO CENTRAL, P.T. (Industrial Chemical Processing)
162.
PILINTI PERKASA ALAM, P.T. (Oil Palm Plantation and Palm Oil
Refinery)
163.
PINDO DELI, P.T. (Paper Making)
164.
PLAZA INDONESIA REALTY, P.T. (Hotel, Shopping Centre and
Recreation Centre Management)
165.
PONDOK CANDRA INDAH, P.T. (Housing Development)
166.
PONDOK NIRWANA, P.T. (Housing Development)
167.
PRIMA VIJAYA INDAH TOUR, P.T. (Tour and Travel Agency)
168.
PRODUKSI INDONESIA, P.T. (Marketing Promotion Services)
169.
PULO GEBANG INDAH, P.T. (Housing Development)
170.
PURINUSA EKAPERSADA, P.T. (Carton Packaging Manufacturing
and Investment
Holding)
171. PURIMAS SASMITA, P.T (Banana Porridge Processing)
172.
PURNAMALA INTERNATIONAL INDONESIA, P.T. Asuransi Jiwa (Life
Insurance)
173.
PUSAKA MAKMUR ABADI, P.T. Perusahaan Bongkar Muat
(Stevedoring Services)
174.
PUTRAMAS PRIMA PERKASA, P.T. (Investment Holding)
175.
RAMAJA PRAMUKTI, P.T. (Oil Palm Plantation and Processing)
176.
REKSA ARTHA MUSTIKA, P.T. (Integrated Poultry Farming and
Food Crop Plantation)
177. RIMBA TUNGGAL PERKASA, P.T. (Cocoa Plantation)
178.
RIVERA HOLDINGS (Hong Kong) Ltd., (Property Management and
Investment Holding)
179.
ROLIMEX CORPORATION, P.T. (General Trading)
180.
ROYAL ORIENTAL LTD., P.T. (Office Block Owner and Rental
Management)
181.
SADANG MAS, P.T. (Investment Holding)
182.
SARANAPAPAN EKASEJATI, P.T. (Real Estate Development)
183.
SARPINDO SOYABEAN, P.T. (Soybean Flour Milling and
Plantation)
184.
SATRIA PERKASA AGUNG, P.T. (Investment Holding)
185.
SATYA KISMA UTAMA, P.T. (Oil Palm Plantation)
186.
SAWIT MALINDA, P.T. (Palm Oil Refinery and Oil Palm
Plantation)
187.
SAWIT MAS SEJAHTERA, P.T. (Oil Palm Plantation and
Processing, Investment Holding)
188.
SAYANG HEULANG, P.T. (Palm Oil Based Cooking Oil Refinery)
189.
SEMBADA KRIYA PRIMA, P.T. (Trading)
190.
SERIKAT PUTRA, P.T. (Oil Palm Plantation)
191.
SIANTAN SHIPPING, P.T. (Interinsulair Shopping)
192.
SIANTAN WINDHU, P.T., (Freight Forwarding)
193. SINAR CULINDO PERKASA, P.T. (Pig Farming)
194.
SINAR DAYA MARINA, P.T. (Investment Holding & Fishing)
195.
SINAR DUNIA MAKMUR, P.T. (Industrial Paper Manufacturing)
196.
SINAR DUNIA THIRTA KIMIA, P.T. (Industrial Chemical
Processing)
197.
SINAR KENCANA INTI PERKASA, P.T. (Oil Palm Plantation and
Processing)
198.
SINAR KILAT BUANA, P.T. (Investment Holding)
199.
SINAR LUCKY PLASTICS INDUSTRY, P.T. (Pipes and Plastic Hoses
Industry)
200.
SINAR MAS, P.T. (Investment Holding)
201.
SINAR MAS AGRO RESOURCES AND TECHNOLOGY CORPORATION (SMART
CORPORATION), P.T. (Oil Palm Plantation and Palm Oil Refinery)
202.
SINAR MAS CIPTA, P.T. Asuransi Kerugian (Sea and Fire
Insurance)
203. SINAR MAS EKA GRAHA, P.T. (Security)
204.
SINAR MAS GRIYA, P.T. (Housing Development and Investment
Holding)
205.
SINAR MAS MULTIARTHA, P.T. (Financing, Treasury Management
& Investment
Holding)
206.
SINARMAS MULTIFINANCE, P.T. (Financing)
207.
SINAR MAS TELADAN, P.T. (Palm Oil Based Cooking Oil Refinery
and Real Estate Development)
208.
SINAR MAS TUNGGAL, P.T. (Investment Holding and Trading)
209.
SINAR MAS WISESA, P.T. (Real Estate Development and
Management)
210.
SINAR MEADOW INTERNATIONAL INDONESIA, P.T. (Fat and Food
Products
Processing)
211.
SINAR OBOR MAS, P.T. (Coconut Oil Based Cooking Oil
Refinery)
212.
SINAR OLEOCHEMICAL INTERNATIONAL, P.T. (Fatty Acid and
Glycerin
Manufacturing)
213.
SINAR PUREFOODS INTERNATIONAL, P.T. (Marine Product
Processing and Canning)
214.
SINAR SYNO KIMIA, P.T. (Industrial Chemical Manufacturing)
215.
SINARSURYA LAND, P.T. (Luxury Apartment Development and
Management)
216.
SINARTAMA GUNITA, P.T. (Commodity Future Trading Services)
217.
SINARWIJAYA EKAPRATISTA, P.T. (Real Estate and Property
Management)
218. SINAR WISATA LESTARI, P.T. (Hotelry)
219.
SINDOPEX FEROTAMA, P.T. (Hydrogen Peroxides Manufacturing)
220.
SINGGA RIMBA MAKMUR, P.T. Perusahaan Bongkar Muat
(Stevedoring Services)
221.
SMART CORPORATION Tbk. P.T. (Integrated Palm Oil Refinery
and Investment Holding)
222.
SMARTINDO BLUEBIRD SNACKS, P.T. (Snack Foods Industry)
223.
SPININDO MITRADAYA, P.T. (Industrial Estate Development and
Management, Investment Holding)
224.
SUKMA SUCI KENCANA MONEY CHANGER, P.T. (Money Changer)
225.
SUMBER INDAHPERKASA, P.T. (Integrated Oil Palm Plantation)
226.
SUMMIT SINARMAS FINANCE, P.T. (Financial Institution)
227.
SUPRA VERITAS, P.T. (Investment Holding and Trading)
228.
SURYA MITRA SEJATI, P.T. (White Carbon & Water Glass
Industry and Investment
Holding)
229.
SURYA SUKMA MAS MONEY CHANGER, P.T. (Money Changer)
230.
SUPER KAOLINDO PERDANA, P.T. (Kaolin Mining and Processing)
231.
SWADAYA BHAKTI NEGARA, P.T. (Palm Kernel Oil Extraction and
Palm Kernel Meal Processing)
232.
TAI SANG LAND DEVELOPMENT CO., LTD., Hong Kong (Property and
Real Estate Development)
233. TAN ENG (Pte) Ltd., (Trading)
234.
TAPIAN NADENGGAN, P.T. (Palm Oil Refinery and Oil Palm
Plantation)
235.
THE UNIVENUS COMPANY, P.T. (Manufacturing of Tissue Paper,
Toilet Paper and Sanitary Napkins and
Napkin Paper)
236.
TIMUR AGRO KARYA, P.T. (Oil Palm Plantation and Palm Oil
Processing)
237.
TJIWI KIMIA Tbk., P.T. Pabrik Kertas (Cultural and
Industrial Paper Manufacturing)
238.
TOMSON PACIFIC (Hong Kong) Ltd., (Property Management)
239.
TUNGGAL MITRA PLANTATION, P.T. (Oil Palm Plantation)
240.
TUNGGAL PERKA CORPORATION, P.T. (Industrial Chemical
Processing)
241.
UNGGUL INDAH CORPORATION, P.T. (Industrial Chemical
Processing)
242.
UNI-CHARM INDONESIA, P.T. (Sanitary Napkin Industry)
243.
UNITED WARU BISCUIT MANUFACTORY, P.T. (Biscuit and Dry
Cookies Processing)
244.
USAHA MANGGAR, P.T. (Coconut Oil Based Cooking Oil Refinery)
245.
VIVA KARYAWISATA, P.T. (Hotelry Restaurant and Recreation
Centre Management)
246. WANA KRIDA UTAMA, P.T. (Logging)
247.
WASTUNIDYA UTAMA, P.T. (Soybean Flour Milling and Soybean
Based Cooking
Refinery)
248.
WENANG PERMAI, P.T. (General Contracting and Housing
Development)
249.
WENANG SAKTI, P.T. (Wood Working)
250.
WESTERN OCEANIC BANK (Banking)
251.
WIDJAJA PERMAI, P.T. (Real Estate Development and
Management)
252.
WIDJAJA PRATAMA RAYA, P.T. (Real Estate Development and
Management)
253.
WIRAKARYA SAKTI, P.T. (Wood Working)
254.
ZETA ANEKA KIMIA, P.T. (Sole Agent and Distributor)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.04 |
|
|
1 |
Rs.103.11 |
|
Euro |
1 |
Rs.86.99 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.