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Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
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Name : |
PT. GENTA BUANA ASTADECA |
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Registered Office : |
Jalan Margonda Raya No. 9, Depok, Bogor, West Java |
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Country : |
Indonesia |
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Date of Incorporation : |
06.06.2003 |
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Com. Reg. No.: |
No. AHU-85810.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Supply of Medical Equipment and
Laboratory Equipment |
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No. of Employees : |
15 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 |
Name of Company :
PT. GENTA BUANA ASTADECA
A d d r e s s :
Head Office
Jalan Margonda Raya No. 9
Depok, Bogor, West Java
Indonesia
Phone -
(62-21) 786-3841
Fax - (62-21) 786-3841
Email - astadeca@cbn.net.id
Building Area - 1 storey
Office Space - 150 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
6 June 2003
Legal Form :
PT. (Perseroan Terbatas) or Limited Liability
Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C-19595.HT.01.01.TH.2003
Dated
20 August 2003
- No.
AHU-85810.AH.01.02.TH.2008
Dated
13 November 2008
Company Status :
Private National Company
Permit by the Government Department :
The Department of Finance
NPWP No. 02.310.665.1-412.000
Related Company :
None
Capital Structure :
Authorized Capital - Rp. 1,000,000,000.-
Issued Capital -
Rp. 500,000,000.-
Paid up Capital - Rp.
500,000,000.-
Shareholders/Owners :
a. Mr. Ivan
Herlambang - Rp. 450,000,000.- (90%)
Address : Pesona Khayangan Block J No. 4
Sukmajaya, Depok
West Java
Indonesia
b. Mrs. Vera Yandrilisia -
Rp. 50,000,000.- (10%)
Address : Depok
Alam Lestari Block C No. 16
RT. 006 RW. 008, Depok,
West Java
Indonesia
Lines of Business :
Trading and Supply of Medical Equipment and
Laboratory Equipment
Production Capacity :
None
Total Investment :
None
Started Operation :
2004
Brand Name :
Genta Buana Astadeca
Technical Assistance :
None
Number of Employee :
15 persons
Marketing Area :
Domestic (Local) -
100%
Main Customers :
a. Hospital
b. Medical Checkup
c. Etc
Market Situation :
Very Competitive
Main Competitors :
a. PT. BERSAUDARA
b. PT. FALAH JAYA
c. PT. UNITAMA ANALITIKA
d. PT. FONDACO JAYA
Business Trend :
Growing
B a n k e r s :
a. PT.
BANK CENTRAL ASIA Tbk
Jalan Margonda Raya No. 15
Depok,
Bogor
West
Java, Indonesia
b.
PT. BANK MANDIRI Tbk
Jalan
Margonda Raya
Depok,
Bogor
West
Java, Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 18.0 billion
2012 – Rp. 21.5 billion
2013 – Rp. 24.0 billion
Net Profit (estimated) :
2011 – Rp. 1.0 billion
2012 – Rp. 1.2 billion
2013 – Rp. 1.3 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mr. Ivan Herlambang
Board of Commissioner :
Commissioner -
Mrs. Vera Yandrilisia
Signatories :
Director (Mr.
Ivan Herlambang) which must be approved by the Board of Commissioner (Mrs. Vera
Yandrilisia)
Management Capability :
Satisfactory
Business Morality :
Satisfactory
PT. GENTA BUANA ASTADECA (PT. GBA) was established on June 6, 2003 in
Depok, West Java with the authorized capital of Rp. 100.000.000 and the issued
capital of Rp. 25.000.000 which was fully paid up of Rp. 12.500.000. The
founders and the shareholders of the company are Mr. Ivan Herlambang (75) and
Mrs. Vera Yandrilisia (25%). Both are Indonesian businessmen of Chinese
descent. Deed of notary of the company was made by Mr. Sutjipto, SH., a public
notary in Jakarta, under Company Registration Number C-19595.HT.01.01.TH. 2003,
dated August 20, 2003. The company notary deed had been changed and in October
2008 the authorized capital was increased to Rp. 1,000,000,000 issued capital
to Rp. 500,000,000 entirely paid up. With this development the composition of
its shareholders has been changed to become Mr. Ivan Herlambang (90%) and his
wife Mrs. Vera Yandrilisia (10%). The deed of amendment was made by Mrs. Rohana
Frieta, SH., a public notary in Depok, was approved by the Ministry of Law and
Human Rights in its decision letter No. AHU-85810.AH.01.02.TH.2008 dated November
13, 2008. No changes have been effected in term of its shareholding composition
and capital structures to date.
PT. GBA has operated its business since 2004 in the field of general
trading and supplying of medical and laboratory equipment. Office of the
company located at Jalan Margonda Raya No. 9, Depok, Bogor, Jawa Barat , a
house-shop (ruko) area in Depok, West Java. Mrs. Yani, secretary to the
Directors of the company explained that PT. GBA is an authorized distributor
and supplier of hospital and medical equipment, contraceptive instruments,
medical health instruments and non-medical health instruments. The products are
imported from Germany under ERBE brand; LABKIT brand of Spain; Medicon brand of
South Korea; DNA Analyzer Bayer of Germany; Electrical stimulation of ERBE of
Germany and MYO Trac of Canada. All products supplied to the Public Hospital in
Bogor, Marjuki Mahdi Hospital in Depok, Medical Clinics, Public Health Centre
(PUSKESMAS) and sale agent of medical instruments in Depok and Bogor. We
observed that PT. GBA is classified as small company in the said business. They
don’t make goods stock and they have no storehouse. In generally, we observed
that the company’s business activities is running smoothly and growing up
slowly in the last three years.
Generally, demand for laboratory and medical equipment and various
pharmaceutical products had been growing in the last five years up to the end
2007 as pictured in sales value of national pharmaceutical products, import
value and export value issued by the Food and Drug Controlling Board (BPOM).
The national pharmaceutical sales, export and import value of products are
estimated to be rising by 6% to 8% in the next year. The competition is very
tight on account many similar companies operating in the country. The business
position of PT. GBA is a sufficiently fairly good because the company has
captive market namely the state-owned hospital and private hospital in the
country. According the BPOM that national pharmaceutical sales as shown are as
the following table.
National Market
Trend of Drugs, 2001-2010 (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2004 2005 2006 2007 2008 2009 2010 2011* 2012* |
20,872 23,629 23,173 25,600 29,981 33,965 37,531 43,081 44,052 |
12,706 14,675 13,834 13,959 16,969 19,225 21,142 23,506 24,015 |
2,136 2,529 2,390 2,295 3,213 3,420 3,610 3,900 4,915 |
Source: Food and
Drug Controlling Board (BPOM) *)
Estimated
Until this time PT. GBA has not been registered with Indonesian Stock
Exchange, so that they shall not obliged to announce their financial statement.
The management of PT. GBA 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. 18.0 billion increased to Rp. 21.5 billion in
2012, and rose again to Rp. 24.0 billion in 2013, and projected to go on rising
by at least 5% in 2014. The operation in 2013 yielded an estimated net profit
of at least Rp. 1.3 billion and the company has an estimated total networth of
at least Rp. 12.0 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 PT. GBA is led by Mr. Ivan Herlambang (43) a
businessman and professional manager with experience in trading, import and
distribution of medical andlaboratory equipments. 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.
PT. GBA is sufficiently fairly good for business transaction. However,
in view of the economic slowdown and political situation in the country is
warming we recommended to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
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|
1 |
Rs.101.69 |
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Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
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 |
-- |
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.