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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. ANDHIKA CELEBES TRANSPORTAMA |
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|
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Registered Office : |
Jl. Kenanga No. 2, Makassar 90121,
South Sulawesi |
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Country : |
Indonesia |
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Date of Incorporation : |
30.10.2000 |
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Com. Reg. No.: |
No. AHU-35594.AH.01.02.Tahun 2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
a. Road Transportation Services b. Freight Forwarding Services |
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No. of Employees : |
40 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 |
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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 |
|
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. ANDHIKA
CELEBES TRANSPORTAMA
Address :
Head Office
Jl. Kenanga No. 2
Makassar 90121
South Sulawesi
Indonesia
Phones -
(62-411) 831 440 (hunting)
Fax - (62-411) 859 739
Email - andhika.celebes@yahoo.co.id
Building Area - 2 storey
Office Space - 160 sq. meters
Region - Commercial
Status - Owned
Warehouse
Jl. Kenanga No. 4
Makassar 90121
South Sulawesi
Indonesia
Land Area - 5,800 sq.
meters
Building Area - 4,600 sq.
meters
Region - Commercial
Status - Owned
Date of Incorporation
:
30 October 2000
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. C-13907.HT.01.01.TH.2001
Dated 22 October 2001
b. No. AHU-35594.AH.01.02.Tahun 2010
Dated 15 July 2010
Company Status :
National Private Company
Permit by the
Government Department :
a. The
Department of Finance
NPWP No. 02.013.128.0-805.000
b. The
Department of Industry and Trade
TDP No. 503/770/TDP.PT-PT/KPAP
Dated 25 October 2007
c. The
Department of Sea Communication
- No. AT.540/120/18/AD.MKS-08
Dated 01 August 2008
- No. 550/552.14-75/V/2010
Dated 03 May 2010
Affiliated/Associated Company :
Not available
Capital Structure
:
Authorized Capital - Rp.
500,000,000.-
Issued Capital - Rp.
200,000,000.-
Paid up Capital - Rp.
200,000,000.-
Shareholders/Owners
:
a. Mr. Achmad Andi
Umar - Rp. 125,000,000.-
(62.5%)
Address : Jl. Kenanga
No. 2
Kampung Buyang, Makassar
South Sulawesi
Indonesia
b Mrs. Nuraida - Rp. 51,000,000.- (25.5%)
Address : Jl. Kenanga No. 2
Kampung Buyang, Makassar
South Sulawesi
Indonesia
c Mrs. Dian
Andriani Achmad - Rp. 12,000,000.- (
6.0%)
Address : Jl. Kenanga
No. 2
Kampung Buyang, Makassar
South Sulawesi
Indonesia
d Mr. Muhammad Taufik Achmad -
Rp. 12,000,000.- ( 6.0%)
Address : Jl. Kenanga
No. 2
Kampung Buyang, Makassar
South Sulawesi
Indonesia
Lines of Business
:
a. Road Transportation Services
b. Freight Forwarding Services
Production
Capacity :
a. Tronton Trucks - 25
units
b. Trailer Trucks - 4 units
c. Capsule Trucks - 13
units
Total Investment :
Owned Capital - Rp.
10.0 billion
Started Operation
:
2 0 0 1
Brand Name :
ACT
Technical Assistance
:
None
Number of Employee
:
40 persons
Marketing Area :
Local - 100%
Main Customers :
Corporate and Individuals
Market Situation :
Very Competitive
Main Competitors :
a. P.T. JASINDO LINTASARTA
b. P.T. CAKRA MITRA INTERNATIONAL
c. P.T. TUNGYA PERKASA
d. P.T. RUTEMAS NUSANTARA
e. P.T. MULTIGUNA INTERNASIONAL PERSADA
f. Etc
Business Trend :
Growing
Bankers :
a. P.T. Bank CENTRAL ASIA Tbk
Makassar
Branch
Jl. Jend.
A. Yani No. 31
Makassar,
South Sulawesi
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Brigjen
Slamet Riyadi No. 8
Makassar,
South Sulawesi
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Income/Revenues (estimated) :
2010 – Rp. 37.0 billion
2011 – Rp. 42.5 billion
2012 – Rp. 48.0 billion
Net Profit (estimated) :
2010 – Rp. 1.8 billion
2011 – Rp. 2.1 billion
2012 – Rp. 2.4 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Achmad Andi Umar
Board of Commissioner :
Commissioner - Mrs. Nuraida
Signatories :
Director (Mr.
Achmad Andi Umar) which must be approved by Board of Commissioner (Mrs.
Nuraida)
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit
Limit :
Small amount – periodical review
P.T. ANDHIKA CELEBES TRANSPORTAMA (P.T. ACT) was established in
Makassasr on October 30, 2000 with an authorized capital of Rp. 50,000,000.-
entirely was issued and fully paid up.
The founding shareholders of the company are Mr. Achmad Andi Umar (50%),
his wife Mrs. Nuraida (30%) and his children Miss Dian Andriani (10%) and Mr.
Muhammad Taufik (10%). They are
indigenous business family. The Article
of Association was made by notary Mestariany Habie, SH., a notary in Makassar
and it was approved by the Minister of Law and Human Rights through Decision
Letter No. C-13907 HT.01.01.Th. 2001 dated October 22, 2001. The articles of association of the company
have frequently been revised, most recently by notarial deed of notary Hj.
Farida Said, SH., No. 24 dated May 15, 2010 the authorized capital was raised
to Rp. 500,000,000.- of which Rp. 200,000,000.- was issued and fully paid
up. However, no changes have been
effected in term of its shareholding composition and capital structures to
date. The amendment to Article of Association has been approved by the Minister
of Law and Human Rights of the Republic of Indonesia through Decree No.
AHU-35594.AH.01.02.Tahun 2010 dated July 15, 2010.
P.T. ACT has been in operation since mid-2001 dealing with transportation
providing services and freight forwarding services. Transportation and freight forwarding
services of the company include sea and air freight, road transportation
services (trucking), customs clearance, project cargo, distribution and logistics,
transportation of general cargo like perishables cargo, fresh and frozen
cargo. In its operation, the company is
cooperating with a number of shipping companies, among others PT. Samudera Indonesia, PT. Tanto Intim Lines, PT.
Tempuran Mas, PT. Djakarta Lloyd, PT. Meratus Lines, PT. Mentari Sejati
Perkasa, PT. Salam Pasicif Indonesia Lines and others. The main customers of the company are oil and gas
industries, animal feed industries, marble manufacturing industries, food and
beverage industries and others. We
observed that P.T. ACT is classified as a medium-sized company of its kind in
the country of which the operation has been growing in the last three years.
Generally, the demand for road transportation and freight forwarding services has kept on
rising by about 7% to 8% on the average per annum in the last five years, line
with the growing activity in various industrial sectors requiring cargo
dispatching, documents, export-import and others. In the meantime, we realized that market competition is very tough on account
of many other similar companies operating in the country among them are PT. Masaji Prayasa Cargo, PT. Freight Express Indonesia,
PT. Bhanda Ghara Reksa, PT. Birotika Semesta, PT. Dahan Freight Forwarder, PT.
Dewata Freight International, etc. The business position of P.T. ACT is
favorable for having established regular customers and wide marketing networks.
Until this time P.T. ACT 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. We have checked to Department of Trade and
Industry and found that no financial statement has been reported. P.T. ACT’s
management is very reclusive to outsider and rejecting to disclose its
financial condition but we estimated the total income/revenues of the company
in 2010 amounted to Rp. 37.0 billion increased to Rp. 42.5 billion in 2011 and
rose again to Rp. 48.0 billion in 2012.
The operation in 2012 yielded a net profit at least Rp. 2.4 billion and
the company has a total net worth of Rp. 12.0 billion. It is projected that total sales turnover of
the company will increase at least 8% in 2013. So far we did not hear that P.T. ACT has
been black listed by Bank Indonesia (Central Bank) or having detrimental cases
being settled in local district court.
The management of P.T. ACT is led by Mr. Achmad Andi Umar (52) an
indigenous businessman with more than 15 years experience in road transportation
and freight forwarding services. In
daily activities he is assisted by his wife Mrs. Nuraida (51) as commissioner
and a number of professional staffs in the business. The Company’s management has 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. ACT 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.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
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 |
|
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NB |
New Business |
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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.