MIRA INFORM REPORT

 

 

Report Date :

15.04.2014

 

IDENTIFICATION DETAILS

 

Name :

P.T. HECOPERKASA PRATAMA

 

 

Registered Office :

Jalan Pangerang Jayakarta No. 117 Block B 11A/C-7, Kelurahan Mangga Dua Selatan, Kecamatan Sawah Besar, Jakarta Pusat, 10730

 

 

Country :

Indonesia

 

 

Date of Incorporation :

August, 1990

 

 

Com. Reg. No.:

No. AHU-AH.01.10-11460

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading and Distribution of Stainless Steel Products

 

 

No. of Employees :

27

 

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Indonesia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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. HECOPERKASA PRATAMA

 

A d d r e s s :

Head Office

Jalan Pangerang Jayakarta No. 117 Block B 11A/C-7

Kelurahan Mangga Dua Selatan, Kecamatan Sawah Besar

Jakarta Pusat, 10730

Indonesia

Phones             - (62-21) 6257232, 6268228, 6599663, 6006809

Fax                   - (62-21) 6599684, 6257231

E-mail               - hecocenter@gmail.com

Building Area    - 2 storey

Office Space    - 130 sq. meters

Region              - Commercial

Status               - Rent

 

Date of Incorporation :

August 1990

 

Legal Form :

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

 

Company Reg. No. :

The Ministry of Law and Human Rights

-           No. AHU-57241.AH.01.02.TH.2008

            Dated 1 September 2008

-           No. AHU-AH.01.10-11460

            Dated 11 May 2010

 

Company Status :

National Private Company

 

Permit by the Government Department :

The Department of Finance

NPWP No. 01.570.044.6-026.000

 

Related Company :

None

 

 

CAPITAL AND OWNERSHIP

 

Capital Structure :

Authorized Capital         : Rp. 1,000,000,000.-

Issued Capital               : Rp. 1,000,000,000.-

Paid up Capital             : Rp. 1,000,000,000.-

 

Shareholders/Owners :

a. Mr. Hermanan Kosasih                                                                     - Rp. 980,000,000.-

    Address : Jl. Mesjid Pekojan IV No. 4, RT. 006 RW. 001

                    Kelurahan Pekojan, Kecamatan Tambora

                    Jakarta Barat, Indonesia

b. Mr. Suryani Halim                                                                            - Rp.   20,000,000.- 

    Address : Jl. Mesjid Pekojan IV No. 4, RT. 006 RW. 001

                    Kelurahan Pekojan, Kecamatan Tambora

                    Jakarta Barat, Indonesia

 

 

BUSINESS ACTIVITIES

 

Lines of Business :

Trading and Distribution of Stainless Steel Products

 

Production Capacity :

None

 

Total Investment :

None

 

Started Operation :

1991

 

Brand Name :

Hecoperkasa Pratama

 

Technical Assistance :

None

 

Number of Employee :

27 persons

 

Marketing Area :

Local    - 100%

 

Main Customer :

Buyers in Europe Union and the USA

 

Market Situation :

Very Competitive

 

Main Competitors :

a. P.T. AVESTINDO PERDANA

b. P.T. CIPTA KARYA ESTETIKA

c. P.T. GEMA KARYA ABADI

d. P.T. SUSTEC INDONESIA

e. Etc.

 

Business Trend :

Growing

 

 

BANKER, AUDITOR & LITIGATION

 

B a n k e r :

P.T. Bank CIMB NIAGA Tbk

Jalan Pangeran Jayakarta No. 117

Jakarta Pusat

Indonesia

 

Auditor :

Internal Auditor

 

Litigation :

No litigation record in our database

 

 

FINANCIAL FIGURE

 

Annual Sales (estimated) :

2011 – Rp. 23.0 billion

2012 – Rp. 25.0 billion

2013 – Rp. 27.0 billion

 

Net Profit (estimated) :

2011 – Rp. 1.4 billion

2012 – Rp. 1.6 billion

2013 – Rp. 1.8 billion

 

Payment Manner :

Average

 

Financial Comments :

Satisfactory

 

 

KEY EXECUTIVES

 

Board of Management :

Director                        - Mr. Hermanan Kosasih

 

Board of Commissioners :

Commissioner   - Mrs. Suryani Halim

 

Signatories :

Director (Mr. Hermanan Kosasih) which must be approved by Board of Commissioner

 

 

CAPABILITIES

 

Management Capability :

Good

 

Business Morality :

Good

 

 

OVERALL PERFORMANCE

 

P.T. HECOPERKASA PRATAMA (P.T. HPP) was set-up in Jakarta in August 1990 with the authorized capital of Rp. 500,000,000 issued capital of Rp. 250,000,000 entirely paid up. The founding and shareholders of the company are Mr. Hermanan Kosasih and his wife Mrs. Suryani Halim, both are Indonesian business family of Chinese descents. Its article of association has been changed a couple of times. The latest according to the revision of notary deed Mr. Sugito Tedjamulja, SH., No. 10 dated 3 May 2010 the company authorized capital was increased to Rp. 1,000,000,000 wholly issued and paid up. With this time the composition of its shareholders has been changed to become Mr. Hermanan Kosasih (98%) and his wife Mrs. Suryani Halim (2%). The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-11460 dated May 3, 2010.

 

P.T. HPP is a private company started to be operating since 1991 dealing with trading, import and distribution of stainless steel products. The merchandise goods products are stainless steel plate, stainless steel angle bar and flat, stainless steel pipe, stainless steel tubes, aluminium, stainless steel in coil, stainless steel wire, pipe chemical, wire netting, polycarbonate, and accessories. The company is a distributor and stockiest of K.SK. STAINLES and Stainless Steel Pipe of HEISEI Stainless Steel Pipe of Japan. The whole products supplied to various building material, building contracting, automotive assembling, fabrication industries, industrial, chemical and petrochemical industries, oil and gas contracting and others.  P.T. HPP customers are oil and gas companies, oil & gas contractors, fertilizers industries, chemical & petrochemical industries, oil refineries, and others. P.T. Meindo Elang Prima; P.T. Kali Raya Sari; and others oil contractors. We observe that P.T. HPP is classified a medium size company of its kinds which operation has been growing and developing well in the last three years.    

 

Generally, demand for piping systems, fittings, flanges, actuators, valves and other technical equipments had kept increasing by 8% to 10% per annum in the last five years in line with the growth of industrial sectors including oil and natural gas, building contractor, chemical industry, pharmaceutical, food & beverage, pulp & paper, cement, and other sectors requiring these equipments. It is projected that the demand will keep going up in five years to come. The competition is very tight on account of many similar companies operating in the country. The business position of P.T. HPP is favorable on account of having already established customers and wide marketing networks in the country.

 

Until this time P.T. HPP has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. HPP is very reclusive towards outsiders and rejected to disclose its financial condition. We observed that total sales turnover of the company in 2011 amounted to Rp. 23.0 billion rose to Rp. 25.0 billion in 2012 increased to Rp. 27.0 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. 1.8 billion and the company has an estimated total networth of at least Rp. 5.0 billion. 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. HPP is led by Mr. Hermanan Kosasih (51) a businessman with experience in trading, import and distribution of stainless steel products. 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. HECOPERKASA PRATAMA is sufficiently fairly good for business transaction.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.27

UK Pound

1

Rs.101.10

Euro

1

Rs.83.74

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

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