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Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. MITRA
PERKASA BERSAMA INDONESIA |
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Registered Office : |
Menara BCA 50th Floor Jalan M.H. Thamrin No. 1 Jakarta Pusat, 10310 |
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Country : |
Indonesia |
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Date of Incorporation : |
18.07.2011 |
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Reg. No.: |
No. AHU-38144.AH.01.01.TH.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trader and Exporter of Coal |
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No. of Employees : |
23 persons |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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, 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 |
Name of Company :
P.T. MITRA PERKASA BERSAMA INDONESIA
Address :
Head Office
Menara BCA 50th Floor
Jalan M.H. Thamrin No. 1
Jakarta Pusat, 10310
Indonesia
Phones -
(62-21) 23584553, 298 256 151
Fax - (62-21) 23584401
E-mail - sales@mpbindonesia.com
Website - http://www.mpbindonesia.com
Building Area - 50 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
18 July 2011
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
No. AHU-38144.AH.01.01.TH.2011
Dated 29 July 2011
Company Status :
Foreign Investment (PMA) Company
Permit by the Government Department :
The Department of
Finance
Not Available
The Capital
Investment Coordinating Board
No. 1963/1/PPM/I/PMA/2011
Dated 7 July 2011
Related Company :
None
Capital Structure :
Authorized Capital : US$
250,000.-
Issued Capital : US$ 150,000.-
Paid up Capital : US$ 150,000.-
Shareholders/Owners :
a. Mr. Ranjeev Banga -
US$ 51,000.-
Address : United kingdom
b. Mr. Amardeep Sharma -
US$ 49,500.-
Address : India
c. Mr. Sanjeev Banga -
US$ 49,500.-
Address : United Kingdom
Lines of Business :
Trader and Exporter of Coal
Production Capacity :
None
Total Investment :
None
Started Operation :
2012
Brand Name :
Mitra Perkasa Bersama Indonesia
Technical Assistance :
None
Number of Employee :
23 persons
Marketing Area :
Export - 100%
Main Customer :
Buyers in India
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BARA KUMALA SAKTI
b. P.T. LAMINAR INTERNATIONAL
c. P.T. PUTRA UTAMA MANDIRI
d. P.T. SIGMA CEMERLANG SINERGI
e. P.T. ZENYAM PUSAKA JAYA
Business Trend :
Growing
B a n k e r :
P.T. Bank CENTRAL ASIA Tbk
Menara BCA Grand Indonesia
Jalan M.H. Thamrin No. 1
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2012 – Rp. 67.0 billion
2013 – Rp. 71.0 billion
Net Profit (estimated) :
2012 – Rp. 4.0 billion
2013 – Rp. 4.3 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Ranjeev Banga
Director - Mr. Sanjeev Banga
Board of Commissioners :
Commissioner - Mr. Amardeep Sharma
Signatories :
President Director (Mr. Ranjeev Banga)
or the Director (Mr. Sanjeev Banga) which must be approved by Board of
Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed Credit Limit :
Small amount – periodical review
P.T. MITRA PERKASA BERSAMA INDONESIA (P.T. MPBI) was set-up in Jakarta
based on notary deed Mrs. Netty Maria Machdar, SH., No. 77 dated 18 July 2011
with the authorized capital of US$ 250,000 issued capital of US$ 150,000
entirely paid up. The company was founded by Mr. Mr. Ranjeev Banga of United
Kingdom (34%), Mr. Amardeep Sharma of India (33%) and Mr. Sanjeev Banga of
United Kingdom (33%). The notary deed of incorporation was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-38144.AH.01.01.TH.2011 dated July 29, 2011.
P.T. MPBI is a Foreign Investment (PMA) company facility to be engaged
in the field of trader and exporter of coal. The company is in the business of
coal export and has collaboration with several coal mining in the country. The
company is also into various allied activities of mining and mining related
activities. The company has a strong hold in Indonesia and has future plans of
exploration of coal in Indonesia. Mr. Ranjeev Bangga, President Director of the
company explained the company now is engaged in trader and exporter of coal.
The company cooperation with the mining authorization holder coal mining with
operating in South Kalimantan, East Kalimantan and South Sumatera. P.T. MPBI
has focusing in coal and mineral trading for the domestic and international
market and has joint ventures with Indonesian miners based in South Kalimantan,
East Kalimantan and South Sumatra. The company’s objective is to provide most efficient
mineral deliveries to its customers. They are focused on delivering the highest
value for their clients with a deep understanding of their individual needs.
P.T. MPBI deal with power plants, steel producers, chemical, textiles and
cement plants in India. The type of coal ranging from low calories 5,100 to
5300, 5,300 to 5,500, 5,600 to 5,800, and 6,300 to 6,500 kc/kgl. The company is
able to export about 80,000 – 100,000 tons per annum as the main buyers in
China and India. We observe that P.T. MPBI is classified a small size company
of its kinds with operation has been growing in the last two years.
Indonesian coal industry carries the reputation as spot sellers due to
various reason including unpredictability of production. We find that the
demand for coal mining contracting services, heavy/mining equipment rental,
repair and maintenance services and mining contracting services was rising by
about 7% to 8% on the average per year in the five years, in close correlation
with the fast development of mining companies in the country. The international
market demand for coal has kept on rising within the last five years as evident
from the data put-out by the Central Bureau of Statistic (BPS) regarding
Indonesian coal product export as bellows. The national coal industries in
Indonesia have swiftly been growing. The growth of coal production and export
in Indonesia in 2001 to 2012 is pictured on the following table:
|
Year |
Production (thousand tons) |
Export (thousand tons) |
Value (US$
million) |
|
2001 |
90,351.8 |
66,505.4 |
1,617.5 |
|
2002 |
103,060.4 |
73,124.9 |
1,762.4 |
|
2003 |
114,610.1 |
89,021.8 |
1,980.1 |
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2004 |
126,850.8 |
105,629.9 |
2,748.8 |
|
2005 |
152,722.4 |
129,044.1 |
4,354.0 |
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2006 |
181,060.9 |
184,008.9 |
6,085.7 |
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2007 |
174,832.7 |
195,785.8 |
6,681.5 |
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2008 |
181,570.0 |
201,021.7 |
10,485.1 |
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2009 |
209,344.7 |
234,793.1 |
13,817.3 |
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2010 |
224,677.0 |
298,844.5 |
18,499.3 |
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2011 |
274,982.9 |
353,397.9 |
27,221.8 |
|
2012 |
389,779.9 |
384,307.2 |
26,166.2 |
Source: Statistic of Central Board
Until this time P.T. MPBI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. MPBI is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover of the company
in 2012 amounted to Rp. 67.0 billion rose to Rp. 71.0 billion in 2013 and
projected to go on rising by at least 6% in 2014. The operation in 2013 yielded
an estimated net profit of at least Rp. 4.3 billion and the company has an
estimated total networth of at least Rp. 11.0 billion. We observe that P.T.
MPBI is supported by foreign partner with has financially strong and sound
behind it. 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. MPBI is led by Mr. Ranjeev Banga (41) a
businessman and professional manager with experience in trader and exporter of
coal. Daily operation he is assisted by Mr. Sanjeev Banga (45) as Director. 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. MITRA PERKASA BERSAMA
INDONESIA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
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|
1 |
Rs.100.04 |
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Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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 |
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<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.