|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.T. HANJAYA MANDALA SAMPOERNA TBK |
|
|
|
|
Formerly Known As : |
P.T. HANJAYA MANDALA
SAMPOERNA |
|
|
|
|
Registered Office : |
Jalan Rungkut Industry Raya No. 14-18,
Surabaya 60293, East Java |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Financials (as on) : |
30.06.2013 (Consolidated) |
|
|
|
|
Year of Establishments: |
1913 |
|
|
|
|
Com. Reg. No.: |
No. AHU-0006503.AH.01.09.Tahun 2010 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
Manufacturer
of Clove Cigarette |
|
|
|
|
No. of Employees : |
28,500
|
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 : |
No Complaints |
|
|
|
|
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. HANJAYA MANDALA SAMPOERNA TBK
Head Office &
Factory
Jalan Rungkut Industry Raya No. 14-18
Surabaya 60293
East Java
Phones - (031) 8431699 (16 lines)
Fax - (031) 8430986
Telex - 33234 SAMPRN IA
P.O. Box - 27/SBS/60401,
234/SBS/60401
Website - http://www.sampoerna.co.id
Email - investor@sampoerna.co.id
Factories
a. Jalan Taman Sampurna No.
6
Surabaya, East Java
b. Jalan Kalirungkut No.
9 - 11
Surabaya, East Java
c. Jalan Kedung Baruk
No. 25
Surabaya, East Java
d. Jalan Industri No. 2
Malang, East Java
e. Jalan Letjend. S.
Parman No. 44
Malang, East Java
f. Jalan Raya Surabaya - Malang Km. 51.4
Pandaan, Pasuruan
East Java
Representative
Office
One Pacific Place, 16th and 20th
Floor
Jalan Jend. Sudirman
Kav. 52-53
Jakarta 12190, Indonesia
Phones - (021) 5151234 (hunting)
Fax - (021) 5152234
a.
In 1913 as NV. Handel Maatschapij LIEM SEENG TEE
b. In 1930 as NV. Handel
Maatschapij SAMPOERNA
c. In 1959 as P.T.
Handel Maatschapij SAMPOERNA
d. 28 November 1988 as
P.T. HANJAYA MANDALA SAMPOERNA
e. 19 August 1996 as
P.T. HANJAYA MANDALA SAMPOERNA Tbk (P.T. HM SAMPOERNA Tbk)
P.T.
Tbk. (Perseroan Terbatas Terbuka) or Public Listed Company
The Ministry of Law
and Human Rights
a. No. C-20646.HT.01.04.TH.2004
Dated 16 August 2004
b. No.
AHU-78005.AH.01.02.Tahun 2008
Dated 24 October 2008
c. No. AHU-0006503.AH.01.09.Tahun 2010
Dated 26 January 2010
Domestic
Investment Company (PMDN)
a. The Department of Finance
NPWP No. 01.108.205.4-001.000
b. The Capital Investment Coordinating Board
No. 703/I/PMDN/1995
Dated 14 December 1995
c. The Capital Market Supervisory Agency
No. Kep-44/PM/1998
Dated 14 August 1998
d. The Department of Industry and Trade
No. 085/BH.13.01/Sept/2004
Dated 08 September 2004
A
Member Company of the PHILIP MORRIS Group
Capital
Structure :
Authorized
Capital - Rp.
630,000,000,000.-
Issued
Capital -
Rp. 438,300,000,000.-
Paid
up Capital -
Rp. 438,300,000,000.-
Latest
Shareholders (as of Dec. 31, 2012) :
a.
P.T. PHILIP MORRIS INDONESIA -
Rp. 430,317,000,000.- (98.18%)
Address : One
Pacific Place, 16th and 20th
Floor
Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190 - Indonesia
b.
The Publics -
Rp. 7,983,000,000.- ( 1.82%)
Address :
Jakarta and Surabaya
Indonesia
Lines
of Business :
Clove
Cigarette Manufacturing
Production
Capacity :
A. Initial Unit
a. Hand Clove Cigarettes - 14.0 billion pcs. p.a.
b. Machine Clove Cigarettes -
7.0 billion pcs. p.a.
B. Expansion Unit
a. Hand Clove Cigarettes - 32.6 billion pcs. p.a.
b. Machine Clove Cigarettes - 21.8 billion pcs. p.a.
Total
Investment :
A. Initial Unit
a. Equity Capital - Rp. 153.0 billion
b. Loan Capital - Rp. 26.6
billion
c. Total Investment - Rp. 179.6 billion
B. Expansion Unit
a. Equity Capital - Rp. 297.0 billion
b. Reinvested Profit - Rp. 399.7 billion
c. Loan Capital - Rp. 182.4 billion
d. Total Investment - Rp. 879.1 billion
Started
Operation :
1913
when it was named N.V. Handel Maatschappij LIEM SEENG TEE
Brand
Name :
JOHNSON,
KAFILAH, LONG, JET, WEST, UNION, HERO, NERO, GOLDEN UNION, WINSTON, KENNEDY,
GOLD BLEND, DIAMOND BLEND
Technical
Assistance :
None
Number
of Employee :
28,500
persons
Marketing
Area :
Local - 95%
Export -
5%
Main
Customers :
a.
Local Market – PT. Perusahaan Dagang dan Industri
PANAMAS, P.T. SUMBER ALFARIA
TRIJAYA and P.T. SAMPOERNA TRANSPORT NUSANTARA as local distributor
b.
International Market – SAMPOERNA INTERNATIONAL PTE LTD., of Singapore and
LIGNUM-2
INC., of the USA
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. GUDANG GARAM Tbk
b.
P.T. DJARUM
c.
P.T. BAT INDONESIA Tbk
d.
P.T. SUMATRA TOBACCO TRADING CO
e. P.T. NOJORONO TOBACCO
f. Etc.
Business
Trend :
Growing
Bankers :
a. DEUTSCHE Bank AG
Deutsche Bank
Building
Jl. Imam Bonjol No. 80
Jakarta - Indonesia
b.
P.T. Bank CIMB NIAGA Tbk
Jl. Jend. Sudirman Kav. 58
Jakarta - Indonesia
c.
P.T. Bank NEGARA INDONESIA Tbk
Jl. Jend. Sudirman Kav. 1
Jakarta - Indonesia
d. P.T. Bank CENTRAL ASIA Tbk
Jl. Jend. Sudirman Kav. 52-53
Jakarta – Indonesia
Auditor
:
Tanudiredja,
Wibisana & Rekan (a public accountant)
Litigation
:
No
detrimental filling was recorded at the local courts.
Annual
Sales (Income) :
2008
– Rp. 34,680.4 billion
2009
– Rp. 38,972.2 billion
2010
– Rp. 43,381.7 billion
2011
– Rp. 52,856.7 billion
2012
– Rp. 66,626.1 billion
2013
– Rp. 36,199.0 billion (as of June 30, 2013)
Net
Profit (Loss) :
2008
– Rp. 3,895.3 billion
2009
– Rp. 5,087.3 billion
2010
– Rp. 6,422.7 billion
2011
– Rp. 8,064.4 billion
2012
– Rp. 9,945.3 billion
2013
– Rp. 5,008.7 billion (as of June 30, 2013)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Paul Norman Janelle *)
Directors -
a. Mrs. Shea Lih Goh
b. Mr. Mark Ingo Niehaus
c. Mr. Wayan Mertasana Tantra
d. Mr. Yos Adiguna Ginting
e. Mr. Peter Alfred Kurt Haase
f. Mr.
Nikolaos Papathanasiou
Board of Commissioners :
President Commissioner - Mr. John Gledhill *)
Vice President Commissioner - Mr. Charles Herve Bendotti
Commissioner - a. Mrs. Niken Rachmad
-
b. Mr. Phang Cheow Hock
c. Mr.
Goh Kok Ho
*) Based on the Extraordinary General
Meeting of Shareholders on July 18, 2012, appointed Paul
Norman Janelle as President Director of the Company, and appointed John
Gledhill as President
Commissioner of the Company, effectively on August 1, 2012
Signatories :
President
Director (Mr. Paul Normal Janelle) or one of the Directors (Mrs. Shea Lih go,
Mr. Mark Ingo Niehaus, Mr. Wayan Mertasana Tantra, Mr. YHos Adiguna Ginting,
Mr. Peter Alfred Kurt Haase or Mr. Nikolaos Papathanasiou) which must be
approved by Board of Commissioners.
Management Capability :
Good
Business Morality :
Good
Initially named Handel Maatschapicj LIEMM SEEN TEE, it was established in 1913 by Mr. Liem Seng Tee and his wife Mrs. Tjiang Nio. In 1930 the company renamed to C.V. Handel Maatschapij SAMPOERNA and in 1959 the name of the company was changed to P.T. Handel Maatschapij SAMPOERNA with the authorized capital of Rp. 20,000,000 of which Rp. 10,000,000 was issued and fully paid up. The shareholders of the company are Mr. Aga Sampoerna AKA Liem Swie Ling, the second son of Mr. Liem Seeng Tee (died in 1956) and their brothers Mr. Liem Sien Nio and Mr. Liem Hwee Nio.
In November 1988 the company was renamed P.T. HANJAYA MANDALA SAMPOERNA and in July 1990 it became a publicly listed company by releasing its 15.0% shares to public through the Jakarta Stock Exchange (BEJ). In June 1994 the authorized capital was raised to Rp 630,000,000,000 issued and paid up capital to Rp 438,300,000,000.- In August 1996 the name was changed again to P.T. HANJAYA MANDALA SAMPOERNA Tbk. (P.T. HMST). Since that time, shares of P.T. HMST are controlled by DUBUIS HOLDING Ltd of Mauritius (32.41%), P.T. LANCAR SAMPOERNA BESTARI (5.20%), both are owned by Mr. Putra Sampoerna and his family, NORBAX Inc (6.24%), Mr. Boedi Sampoerna (1.3%)), the commissioner of HMST (0.02%) and the publics (54.83%).
In March 2005, some 40% shares of P.T. HMST including shares of the SAMPOERNA family were taken over by PHILIP MORRIS INTERNATIONAL Inc with acquired value of US$ 2 billion. In May 2005, P.T. PMI took over 57% shares of P.T. HMST through tender offer process. Since that time 97% shares of P.T. HMST were owned by the PMI and the rest of 3% is owned by the publics. PMI is a holding company of the PHILIP MORRIS Group, a large sized company group dealing with MARLBORO non-flavored clove cigarettes. Whole assets of PMI in P.T. HMST are shifted to P.T. PHILIP MORRIS INDONESIA. As at December 31, 2012 the shareholders of P.T. HMST are P.T. PHILIP MORRIS INDONESIA (98.18%) and the publics (1.82%).
The Articles of
Association of the Company have been amended several times, lastly by Notarial
Deed No. 107 of Aulia Taufani, SH., dated December 15, 2009 in order to comply
with Capital Market and Financial Institution Supervisory Agency
regulations. These amendments to the
Articles of Association were approved by the Minister of Law and Human Rights
of the Republic of Indonesia through Decision Letter No. AHU-0006503.AH.01.09.
Year 2010 dated January 26, 2010.
P.T. HMST is the second largest producer of clove cigarettes in Indonesia at present. Previously it has merely managed a plant of hand-rolled clove and white cigarettes at Jalan Taman Sampoerna No.6, Surabaya, owned by P.T. Handel Mattschappij SAMPOERNA (the then N.V. Handel Mattschappij Sigarettenfabriek LIEM SEENG TEE), the first white cigarette producer in Indonesia with popular brand name at that time SAMPOERNA STAR, SUMMER PALACE and STATUE OF LIBERTY as known with symbols "123", "720" and "678". Hand-rolled clove cigarette is marketed under the popular brands DJI SAM SOE and SAMPOERNA.
Since July 2000, the company again launched a new product with SAMPOERNA MILLENIUM brand. Since February 2001 the company started to produce and market S.T. DUPONT brand cigarette, a well know cigarette of France. The license agreement with S.T. DUPONT, France is affective for a period of ten years valid form 01 January 2001.
Some 95% of the products are marketed locally and the rest is exported to Hong Kong, Malaysia, Japan, and the USA. To support its marketing, P.T. HMST has appointed its sister companies P.T. Perusahaan Dagang dan Industri PANAMAS, P.T. SUMBER ALFARIA TRIJAYA and P.T. SAMPOERNA LOGISTIK NUSANTARA as local distributors and SAMPOERNA INTERNATIONAL Pte. Ltd. of Singapore and also SAMPOERNA JOO LAN Sdn. Bhd., of Malaysia for International market and export.
Investment in
Shares
Other than operating
in the clove cigarette manufacturing, P.T. HMST is also as shareholders and
controls 100% shares of P.T. Perusahaan Dagang dan Industri PANAMAS, 100%
shares of P.T. SAMPOERNA PRINTPACK, 100% shares of P.T. HANDAL LOGISTIK
NUSANTARA, 100% shares of P.T. ASIA TEMBAKAU and others. The table of P.T. HMST’s subsidiary companies
shall be as follows:
(As of Dec. 31,
2012)
|
Company & Domicile |
Lines of Business |
Commercial
Operation |
Percentage of
Ownership |
Total Assets (Rp million) |
|
P.T. Perusahaan Dagang dan Industri PANAMAS,
Indonesia |
Cigarette Distribution |
1989 |
100.0 |
114,641 |
|
P.T. SAMPOERNA PRINTPACK , Indonesia |
Printing and Packaging Industry |
1989 |
100.0 |
267,864 |
|
P.T. HANDAL LOGISTIK
NUSANTARA, Indonesia |
Expedition and Warehousing |
1989 |
100.0 |
30,566 |
|
P.T. ASIA TEMBAKAU, Indonesia |
Cigarette Manufacturing and Trading |
2002 |
100.0 |
878,020 |
|
P.T. UNION SAMPOERNA DINAMIKA, Indonesia |
Investment Holding |
2005 |
100.0 |
45,512 |
|
P.T. TAMAN DAYU, Indonesia |
Property Development |
1990 |
100.0 |
181,925 |
|
P.T. GOLF TAMAN DAYU, Indonesia |
Leisure and Golf course services |
1996 |
100.0 |
62,329 |
|
SAMPOERNA JOO LAN Sdn., Bhd., Malaysia |
Cigarette Manufacturing and Trading |
1998 |
100.0 |
9,387 |
|
SAMPOERNA INTERNATIONAL Pte. Ltd., Singapore |
Investment Holding |
1995 |
100.0 |
248,837 |
|
P.T. HARAPAN MAJU SENTOSA |
Cigarette Manufacturing and Trading |
1989 |
100.0 |
36,167 |
|
P.T. PERSADA MAKMUR INDONESIA |
Cigarette Manufacturing and Trading |
2003 |
100.0 |
58,489 |
Source: P.T. HM SAMPOERNA Tbk
According to financial report audited by Tanudiredja, Wibisana & Rekan (a member of Global PWC) a public accountant that the total sales turnover of P.T. HMST in 2010 amounted to Rp. 43,381.7 billion with a net profit of Rp. 6,422.7 billion increased to Rp. 52,856.7 billion with a net profit of Rp. 8,064.4 billion in 2011 and rose again to Rp. 66,626.1 billion with a net profit of Rp. 9,945.3 billion in 2012. As of June 30, 2013, its sales turnover was Rp. 36,199.0 billion with a net profit of Rp. 5,008.7 billion. Financial statement as of December 31, 2010, 2011, 2012 and as of June 30, 2013 are attached. So far, we have never heard that P.T. HMST has been black listed by Bank Indonesia (Central Bank) and involved in detrimental cases being settled in the country. Its payment habit is running punctually.
Based on the Extraordinary General Meeting of Shareholders on July 18, 2012, it appointed Mr. Paul Norman Janelle as President Director of the Company, replacing Mr. John Gledhill. Prior to the appointment, Janelle’s previous position was president commissioner, a position that will be held by Gledhill after the decision becomes effective on Aug.1, 2012. Mr. Janelle graduated with Master of Business Administration and Finance from Webster University, and gained Bachelor of Business Administration, and Bachelor of Science from University of Ottawa.
The change in the board of directors and board of commissioners follows the appointment of John Gledhill as the managing director Australia, New Zealand and Pacific Islands for Philip Morris Limited, Australia. In his daily operation, Mr. Janelle is assisted by six directors namely Mrs. Shea Lih Go, Mr. Mark Ingo Niehaus, Mr. Wayan Mertasana Tantra, Mr. Yos Adiguna ginting, Mr. Peter Alfred Kurt Haase and Mr. Nikolaos Papathanasiou. The management is quite creative and dynamic, having maintained a wide business relation with private businessmen at home and abroad and with the government sectors as well. We observed that management’s reputation in said business is fairly good. 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. HM SAMPOERNA Tbk is sufficiently fairly
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.
Attachment:
P.T. HM SAMPOERNA TBK AND SUBSIDIARIES
CONSOLIDATED
STATEMENT OF FINANCCIAL
Per 31 December
2010, 2011, 2012 and As of 30 June 2013
(In million Rp)
|
D e s c r i p t i
o n |
30 June 2013 |
31 December |
||
|
2012 |
2011 |
2010 |
||
|
TOTAL ASSETS |
|
|
|
|
|
a. Current
Assets |
|
|
|
|
|
- Cash and cash equivalent |
436,963 |
783,505 |
2,070,123 |
3,209,559 |
|
- Trade receivables |
|
|
|
|
|
* Third parties |
1,154,436 |
983,865 |
823,248 |
821,727 |
|
* Related parties |
135,727 |
92,680 |
68,165 |
34,723 |
|
- Other receivables |
|
|
|
|
|
* Third parties |
60,565 |
26,262 |
50,158 |
29,243 |
|
* Related parties |
265,677 |
269,947 |
151,335 |
114,589 |
|
- Inventories – net |
17,845,120 |
15,669,906 |
8,913,348 |
9,802,455 |
|
- Prepaid taxes |
680,649 |
599,090 |
511,105 |
435,570 |
|
- Advances for purchase of
tobacco |
256,818 |
2,506,777 |
2,058,317 |
1,095,858 |
|
- Prepaid expenses and other
assets |
223,890 |
196,281 |
205,661 |
224,834 |
|
Total
Current Assets |
21,059,845 |
21,128,313 |
14,851,450 |
15,768,558 |
|
|
|
|
|
|
|
b. Non Current
Assets |
|
|
|
|
|
- Investment in associate |
34,614 |
24,783 |
22,177 |
12,161 |
|
- Investment property |
281,786 |
141,005 |
-- |
-- |
|
- Fixed assets |
4,424,881 |
4,115,078 |
3,850,665 |
4,087,338 |
|
- Land for development |
117,250 |
144,139 |
173,519 |
175,265 |
|
- Deferred tax assets |
160,242 |
164,862 |
94,237 |
42,537 |
|
- Goodwill |
60,423 |
60,423 |
60,423 |
237,320 |
|
- Other non-current
assets |
394,295 |
468,924 |
277,277 |
201,944 |
|
Total
Non Current Assets |
5,473,491 |
5,119,215 |
4,478,298 |
4,756,565 |
|
TOTAL ASSETS = TOTAL LIABILITY AND EQUITY |
26,533,336 |
26,247,527 |
19,329,758 |
20,525,123 |
|
LIABILITIES |
|
|
|
|
|
a. Current
Liabilities |
|
|
|
|
|
- Borrowings |
-- |
2,306,203 |
-- |
-- |
|
- Trade and others payables |
|
|
|
|
|
* Third Parties |
1,413,247 |
1,374,131 |
1,273,856 |
583,686 |
|
* Related Parties |
1,051,785 |
1,053,980 |
664,249 |
490,831 |
|
- Dividends payable |
4,247,127 |
-- |
-- |
3,988,530 |
|
- Taxes payable |
1,357,904 |
1,368,296 |
1,471,749 |
1,073,346 |
|
- Excise tax payable |
6,013,955 |
5,295,906 |
4,464,140 |
3,126,171 |
|
- Accruals and provisions |
439,837 |
443,485 |
438,276 |
474,144 |
|
- Pos-employment benefit
obligations |
41,530 |
30,388 |
25,977 |
-- |
|
- Finance lese liabilities
- current |
22,599 |
25,588 |
30,161 |
42,234 |
|
Total
Current Liabilities |
17,178,176 |
11,897,977 |
8,368,408 |
9,778,942 |
|
b. Non Current
Liabilities |
|
|
|
|
|
- Post-employment benefit obligations |
873,412 |
854,970 |
556,869 |
432,642 |
|
- Deferred tax liabilities |
-- |
5,091 |
5,549 |
11,352 |
|
- Finance lese liabilities – long term |
44,845 |
56,037 |
50,043 |
44,928 |
|
- Deferred revenue |
112,439 |
125,032 |
46,219 |
41,807 |
|
Total
Non Current Liabilities |
1,030,696 |
1,041,130 |
658,680 |
530,729 |
|
c. Total
Liabilities |
18,208,872 |
12,939,107 |
9,027,088 |
10,309,671 |
|
d. Equity |
|
|
|
|
|
- Issued and Paid up
Capital |
438,300 |
438,300 |
438,300 |
438,300 |
|
- Additional Paid-up
Capital |
88,543 |
136,937 |
142,958 |
42,077 |
|
- Cumulative translation
adjustments |
648,100 |
647,317 |
616,400 |
629,769 |
|
- Other reserves |
(29,721) |
(29,721) |
(29,721) |
(29,721) |
|
- Retained earnings |
7,179,242 |
12,115,587 |
9,134,733 |
9,134,039 |
|
Total Equity |
8,208,872 |
13,308,420 |
10,302,670 |
10,215,42 |
|
INCOME STATEMENT |
|
|
|
|
|
a. Net
Sales/Revenues |
36,199,035 |
66,626,123 |
52,856,708 |
43,381,658 |
|
b. Cost of Goods Sold |
(26,784,247) |
(48,118,835) |
(37,661,205) |
(30,725,665) |
|
c. Gross Profit |
9,414,788 |
18,507,288 |
15,195,503 |
12,655,993 |
|
d. Operational Expenses |
(2,192,990) |
(4,183,635) |
(3,562,619) |
(3,145,057) |
|
e. Operational Profit |
7,221,798 |
14,323,653 |
11,632,884 |
8,711,134 |
|
f. Other Income (Expenses) |
(501,348) |
(940,396) |
(711,785) |
35,174 |
|
g. Profit Before Income Tax |
6,720,450 |
13,383,257 |
10,911,082 |
8,748,229 |
|
h. Income Tax Expense |
(1,711,768) |
(3,437,691) |
(2,846,656) |
(2,325,481) |
|
i. Net Profit |
5,008,682 |
9,945,296 |
8,064,426 |
6,422,748 |
Remarks: 1) 31 December 2010, 2011 and 2012 audited by
Tanudiredja, Wibisana & Rekan
2) As of June 30, 2013
un-audited
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.