MIRA INFORM REPORT

 

 

Report Date :

05.04.2014

 

IDENTIFICATION DETAILS

 

Name :

P.T. ARGINACA

 

 

Registered Office :

Sudirman Plaza Complex, Plaza Marein 10th Floor, Jalan Jend. Sudirman Kav. 76-78, Jakarta Selatan, 12910

 

 

Country :

Indonesia

 

 

Date of Incorporation :

16.02.2011

 

 

Com. Reg. No.:

No. AHU-10012.AH.01.01.TH.2011

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading, Import and Distribution of Industrial Machinery and Equipment

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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, has grown strongly since 2010. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25% 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 also faces the challenges of quelling labor unrest and reducing fuel subsidies in the face of high oil prices.

 

Source : CIA

 

 

 

 

BASIC SEARCH

 

Name of Company :

P.T. ARGINACA

 

A d d r e s s :

Head Office

Sudirman Plaza Complex, Plaza Marein 10th Floor

Jalan Jend. Sudirman Kav. 76-78

Jakarta Selatan, 12910

Indonesia

Phone               - (62-21) 5795 4747

Fax                   - (62-21) 5795 6939

Building Area    - 17 storey

Office Space    - 80 sq. meters

Region              - Commercial

Status               - Rent

 

Date of Incorporation :

16 February 2011

 

Legal Form :

P.T. (Perseroan Terbatas) or Limited Liability Company

 

Company Reg. No. :

The Ministry of Law and Human Rights

No. AHU-10012.AH.01.01.TH.2011

Dated 25 February 2011

 

Company Status :

National Private Company

 

Permit by the Government Department :

The Department of Finance

Not Available

 

Related Companies :

a.         P.T. DAYA TRANS ASIA (General Trading)

b.         P.T. KUBIC GAS (Investment Holding)

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital         : Rp. 38,000,000,000.-

Issued Capital               : Rp.   9,500,000,000.-

Paid up Capital             : Rp.   9,500,000,000.-

 

Shareholders/Owners :

a. P.T. KUBIC ENERGY                                                                        - Rp. 8,835,000,000.-

    Address : Jl. Jend. Sudirman Kav. 76-78

                    Jakarta Selatan

                    Indonesia

b. Mr. Raden Tranggono Bunarto                                                         - Rp.    665,000,000.-

    Address : Jl. Asem Raya C. 12/11, RT. 005 RW. 002

                    Kelurahan Kuningan Timur, Kecamatan Setia

                    budi, Jakarta Selatan

                    Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading, Import and Distribution of Industrial Machinery and Equipment

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

March 2011

 

Brand Name :

Arginaca

 

Technical Assistance :

None

 

Number of Employee :

None

 

Marketing Area :

Local    - 100%

 

Main Customer :

Industrial Manufacturing

 

Market Situation :

Very Competitive

 

Main Competitors :

Unknown

 

Business Trend :

No Comment

BANKER, AUDITOR & LITIGATION

 

B a n k e r :

Unknown

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

Unknown

 

Net Profit (estimated) :

Unknown

 

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

President Director                    - Mr. Raden Tranggono Bunarto

Director                                                - Mr. Indrajanto Suwono Raharjo

 

Board of Commissioners :

Commissioner                           - Mr. Wahyu Nugroho

 

Signatories :

President Director (Mr. Raden Tranggono Bunarto) or the Director (Mr. Indrajanto Suwono Raharjo) which must be approved by Board of Commissioner

 

 

CAPABILITIES

 

Management Capability :

Weak

Business Morality :

Prudent

 

 

OVERALL PERFORMANCE

 

Based on investigation to the above address Sudirman Plaza Complex, Plaza Marein 10th Floor, Jalan Jend. Sudirman Kav. 76-78, South Jakarta that the Subject is not found. Previously the Subject is located and registered address on the office building. However since the end 2013 the company has yet registered on the above address. Besides, according from Telkom Information Jakarta the Subject has yet registered on book directory Telkom Jakarta.

 

P.T. ARGINACA was established in Jakarta based on notary deed Mrs. Syafera Mairita Achmad, SH., No. 08 dated 16 February 2011 with the authorized capital of Rp. 38,000,000,000 issued capital of Rp. 9,500,000,000 entirely paid up. The founding and shareholders of the company are P.T. KUBIC ENERGY (93%) and Mr. Raden Tranggono Bunarto (7%). The notary deed of incorporation was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-10012.AH.01.01.TH.2011 dated February 25, 2011.

 

P.T. ARGINACA plans its activity to be engaged in the field of trading, import, distribution and supplied of industrial machinery and equipment. According information from Department of Industry and Trade, the company is imported of Generator Sets, EDM Machine, Blowing Machine, Press Machine, Sawing Machine, Crane, Hoist, Milling Machine, Lathe Machine, Grinding Machine, Extruder Machine, Water Chiller, Checkweigher Anritsu, and others. The whole products imported from Japan, South Korea, Taiwan, China, India and other countries. Besides, the company also sells of Compressed Natural Gas (CNG) & Liquefied Natural Gas (LNG), process, logistic and trading, LNG Process, CNG & LNG Transportation, CNG & LNG Trading, Natural Gas Pipeline etc. However we didn’t know the complete address of the company was not found. 

 

We refrain from informing business prospect of P.T. ARGINACA because of having yet found the complete address up to present. In view of having yet to be unknown the complete address, the company’s financial condition is as much as the company’s issued capital worth Rp. 9,500,000,000. We find that the company’s financial condition still depends on the financial condition of its shareholders being supported by the businessmen behind it.

 

Based to the company notary deed, the management of P.T. ARGINACA is led by Mr. Raden Tranggono Bunarto (51) as President Director and Mr. Indrajanto Suwono Raharjo (42) as Director and Mr. Wahyu Nugroho (49) as Commissioner. The management will eventually be handled by professional managers having wide relation with overseas and national private businessmen as well as with the government sectors. In view of P.T. ARGINACA having yet to be unknown the complete address, we recommend that a high degree of prudence be observed in business transactions and adequate collateral from its shareholders be acquired in extending a new loan to the company.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.32

UK Pound

1

Rs.100.04

Euro

1

Rs.82.65

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NNA

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.