|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. CENTURY MITRA SUKSES SEJATI |
|
|
|
|
Registered Office : |
Jl. Raya Serang Km. 13.8, Kawasan Industrial Tristate No.
29, Cikupa, Tangerang 15560, |
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|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
12.03.2007 |
|
|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Plastic Packaging Manufacturing |
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|
|
|
No of Employees : |
200 |
RATING & COMMENTS
|
MIRAs 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 June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Indonesia |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
P.T. CENTURY MITRA SUKSES SEJATI
Head Office &
Factory
Jl. Raya Serang
Km. 13.8
Kawasan
Industrial Tristate No. 29
Cikupa, Tangerang
15560
Banten Province
Indonesia
Phones -
(62-21) 596 3399
Fax - (62-21) 596 2299
Land Area - 12,000 sq.
meters
Building Space - 8,000 sq. meters
Region - Industrial
Estate
Status - Owned
Date of Incorporation :
12 March 2007
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No.
C-07573 HT.01.01.TH.2007
Dated
27 December 2007
- No.
AHU-30423.AH.01.02.Tahun 2010
Dated
16 June 2010
- No.
AHU-AH.01.10-48244
Dated
13 November 2013
Company Status
:
National Private
Company
Permit by the Government
Department :
The Department of Finance
NPWP No.
02.648.989.8-411.000
Related
Company :
Not Available
Capital
Structure :
Authorized
Capital - Rp.
100,000,000,000.-
Issued Capital - Rp. 50,000,000,000.-
Paid up Capital - Rp. 50,000,000,000.-
Shareholders/Owners
:
a. Mr. William James Suparno - Rp. 32,500,000,000.-
(65%)
Address :
Kp. Cerewet, RT. 03 RW. 02
Sukadamai,
Cikupa, Tangerang, Banten
Indonesia
b. Mrs. Maria Suparno -
Rp. 17,500,000,000.- (35%)
Address : Kondominium Taman
Anggrek Tower VI/22E
Jakarta Barat
Indonesia
Lines of Business :
Plastic Packaging Manufacturing
Production Capacity :
Plastic Packaging - 12,800 tons per annum
Total Investment :
Owned Capital - Rp. 50 billion
Started Operation :
2007
Brand Name :
Century Mitra Sukses Sejati
Technical Assistance :
None
Number of Employee :
200 persons
Marketing Area :
Local - 100%
Main Customers :
Food, Cosmetic, and Pharmaceutical
Industry
Market Situation :
Very Competitive
Main
Competitors :
a. P.T. REXPLAST
CORPORATION
b. P.T. SURYA
MULTI INDOPACK
c. P.T. UNIFLEX KEMAS INDAH
d. P.T. BINA PLASPAC INDONESIA
d. Etc.
Business Trend
:
Growing
Bankers :
a. P.T. BANK CENTRAL ASIA Tbk
Komp. Pertokoan Perum Citra Raya Blok H1 No.1
Cikupa,
Tangerang, Banten
Indonesia
b. PT.
BANK MANDIRI Tbk
Ruko Mahkota
Mas Blok C No. J4-J5
Cikokol,
Tangerang, Banten
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales /
Revenue (estimated) :
2011 Rp. 135.0
billion
2012 Rp. 144.0
billion
2013 Rp. 154.0
billion
Net Profit
(estimated) :
2011 Rp. 11.5
billion
2012 Rp. 12.0
billion
2013 Rp. 13.0
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director -
Mr. William James Suparno
Board of Commissioners :
President Commissioner -
Mr. Suparno
Commissioner -
Mrs. Maria Suparno
Signatories :
Director (Mr. William
James Suparno) which must be approved by Board of Commissioner (Mr. Suparno and
Mrs. Maria Suparno)
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
P.T. CENTURY MITRA SUKSES SEJATI (P.T. CMSS)
was established in Tangerang, Banten Province based on Notarial Deed No. 14 dated
March 12, 2007 made by Notary Mrs. Harjanti Tono, SH, with an authorized
capital of Rp. 2,000,000,000.- of which Rp 500,000,000.- was issued and fully
paid up. The founding shareholders of the company are Mr. Hiu Stanley Setiono
(50%) and Mr. Andre Aditya Hiu (50%). The both are Indonesian businessmen of
Chinese extraction. The Deed of establishment has been approved by the Minister
of Law and Human Rights of the Republic of Indonesia through its Decision
Letter No. C-07573 HT.01.01.TH 2007 dated 27 December 2007.
The articles of association of the company
have frequently been changed, most recently by Notarial Deed No. 31 dated
August 20, 2013 with the authorized capital was increased to Rp.
100,000,000,000 of Rp. 50,000,000,000 was issued and fully paid up.
Concurrently, Mr. Hiu Stanley Setiono and Mr. Andre Aditya Hiu pulled out and
the latest shareholders of the company are Mr. William James Suparno (65%) and
Mrs. Maria Suparno (35%).
The amendment to Deed has been approved by
the Minister of Law and Human Rights through its Decision Letter No.
AHU-AH.01.10-48244 dated November 13, 2013. No changes have been effected in
term of its shareholding composition and capital structures to date.
P.T. CMSS has been operation since 2007
dealing with Plastic Packaging Manufacturing. The company produces flexible
packaging for food, cosmetics, pharmaceutical, etc. Its head office and factory
located at Jl. Raya Serang Km. 13.8, Kawasan Industrial Tristate No. 29,
Cikupa, Tangerang 15560, Banten Province where it stands on 12,000 sq. meters
land. According to information from Ms. Vita, she explained that raw materials
obtained from local company namely P.T. VICTORY BLESSING INDONESIA, while the
machinery imported from Switzerland. The products are marketed locally to Food,
Cosmetic, Pharmaceutical Industries, etc. We observed that P.T. CMSS is
classified as a medium size company of its kind in the country of which the
operation has been growing in the last three years.
Generally, the demand for plastic cup products,
flexible packaging and plastic film printing in the country had significantly
rising by 8% to 10% per year in the last five years, in line with the growth of
snack food industries including instant noodle, biscuit, confectioneries,
pharmaceutical, cosmetic industries, etc.
But, as from October 2008, the demand growth for flexible packaging and
printing has kept on dwindling as an impact of global economic crisis as told
above. Beside, the competition is very tight on account many similar companies
operating in the country. The demand was increasing in the early 2009 due to
economic condition was gradually recovery in the country. The growth rate is
now estimated at 5% to 7% per year.
The company is neither public listed nor
bond issued company. Therefore, the company has no obligation to publish
financial statement publicly. The management is very reclusive and unlikely to
expose its financial condition to outsider. We estimate that sales turnover of
the company in 2011 amounted to Rp. 135.0 billion increased to Rp. 144.0
billion in 2012 and rose again to Rp. 154.0 billion in 2013. The operation of
the company in 2013 yielded a net profit at least Rp. 13.0 billion and the
company has a total networth of Rp. 62.0 billion. It is projected that total sales
turnover of the company will increase at least 8% in 2014. So far we did not
hear that P.T. CMSS has been black listed by Bank Indonesia (Central Bank) or
having detrimental cases being settled in local district court. The company
usually pays its debts punctually to suppliers.
The management of P.T. CBM is led by Mr. William James Suparno (34) as director.
In his daily activities, he is assisted by Mr.
Suparno
(67) as president commissioner and Mrs. Maria
Suparno (35) as commissioner. The management has maintained a wide relation with
private businessmen at home and abroad as well as with government authorities.
So far, we did not hear that the company's management having been involved in
the business malpractices.
P.T. CBM is appraised to be 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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 SCs 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.