|
Report Date : |
30.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PABRIK KERTAS TJIWI KIMIA TBK |
|
|
|
|
Registered Office : |
Sinar Mas Land
Plaza, Menara II, 7th Floor, Jalan M.H. Thamrin No. 51, Gondangdia, Menteng Jakarta Pusat 10350 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.07.1996 |
|
|
|
|
Com. Reg. No.: |
AHU-AH.01.10-26833 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
· Cultural and Industrial Paper Manufacturing · Caustic Soda Manufacturing · Investment Holding |
|
|
|
|
No. of Employees : |
12,482 Persons |
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 : |
Slow but correct |
|
|
|
|
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, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
Name of Company :
P.T. Pabrik Kertas TJIWI KIMIA Tbk
A d d r e s s :
Head Office &
Factory
Sinar Mas
Jalan M.H. Thamrin No. 51
Gondangdia, Menteng
Jakarta Pusat 10350
Indonesia
PO Box - 4295 JKT 10001
Phones - (62-21) 392966-69
Fax - (62-21) 3927685
E-mail - app_investors@app.co.id
Website - http://www.tjiwi.co.id
Factory/Mills
Jl. Raya Surabaya-Mojokerto Km. 44
Desa Kramat Temanggung
Kecamatan Tarik,
Sidoarjo,
Phones -
(62-321) 361552, 361574-77
Fax -
(62-321) 361615
Telex -
31094 TJIWI MR
P.O. Box - 115 MOJOKERTO
Land Area - 36.0 hectares
Building Space - 4.5 hectares
Region - Industrial
Zone
Status - Owned
Branches
a.
Room 1609, 16th Floor, SHENTON HOUSE
Phones
- (65) 2209166-69
b.
Jalan Rajawali No. 31-33
Phones
- (62-31) 3530520, 33524130,
3524133
Fax
- (62-31) 3525409
Date of
Incorporation :
a. 02 October 1972 as P.T. Pabrik Kertas
TJIWI KIMIA
b. 08 July 1996 as P.T. Pabrik Kertas TJIWI
KIMIA Tbk
Legal Form :
P.T. Tbk. (Perseroan Terbatas Terbuka) or Public Listed Company
Company Reg. No. :
The Ministry of Law and Human Rights
a. No. Y.A. 5/439/25 (initial permit)
Dated 22 December
1975
b. No. AHU-42925.AH.01.02.Tahun
2009
Dated 01
September 2009
c. No.
AHU-AH.01.10-26833
Dated 23 July
2013
Company Status :
Domestic Investment (PMDN) Company
Permit by the
Government Department :
a. The Department of Finance
NPWP No. 01.109.421.6-092.000
b. The Department of Industry
No. 2040/St-J/XII/1974
Dated 14 December 1974
c. The Capital Investment Coordinating Board
- No. 564/III/PMDN/1987
Dated 11 November 1987
- No. 212/III/PMDN/1996
Dated 31 May 1996
Related Companies :
A Member of the SINAR MAS Group
Capital Structure
:
Authorized Capital - Rp. 5,000,000,000,000 (US$.2,010,813,237)
Issued Capital - Rp. 1,335,702,240,000 (US$. 537,169,549)
Paid up Capital - Rp. 1,335,702,240,000 (US$. 537,169,549)
Shareholders/Owners
:
a. P.T. PURINUSA
EKAPERSADA - Rp 796,179,367,000 (59.6%)
b. MAYFIELD
INVESTMENT LIMITED - Rp. 47,794,114,000 ( 3.6%)
c. The Public -
Rp 491,728,759,000 (36.8%)
Lines of Business
:
a. Cultural
and Industrial Paper Manufacturing
b. Caustic
Soda Manufacturing
c. Investment
Holding
Production
Capacity :
a. Industrial
and Cultural Papers - 194,000 tons p.a.
b. Corrugated
Paper Boxes - 98,300 tons p.a.
c. Kraft
Papers -
186,000 tons p.a.
d. Caustic
Soda - 14,900
tons p.a.
e. Computer
and Telex Papers - 10,800 tons p.a.
f. NRC,
Coated and Cultural Papers - 130,800 tons p.a.
g. Fine
Papers for Laminating - 7,200 tons p.a.
h. Lining
Papers -
7,200 tons p.a.
i. Tissue
Papers -
3,600 tons p.a.
j. Duplex
Coated Papers - 51,600 tons
p.a.
k. Cardboards - 14,600 tons p.a.
l. Pulps
and Baggases - 117,600 tons p.a.
m. Writing
Books - 30 millions pcs.p.a.
n. HVS
and Writing Papers -
210,000 tons p.a.
o. Silicon
Papers - 20,000
tons p.a.
p. Cast
Coating Papers - 10,000 tons p.a.
q. High
Quality Exercise Book, Note
Book,
Computer Continuous Form
Box Stationery -
300,000 tons p.a
r. Calcium Hypochloride - 7,200 tons p.a.
s. Liquid Calcium Hypochloride - 64,000 tons p.a.
t. Calcium
Oxide - 36,000
tons p.a.
Total Investment :
a. Equity
Capital - Rp. 1,335.3 billion
b. Loan
Capital - Rp. 15,295.0 billion
c. Total
Investment - Rp. 16,630.3 billion
Started Operation
:
1 9 7 7
Brand Name :
Bola Dunia, Anchor Brand, Betet, Clean Coated Board, Evergreen, Globe
Brand, Golden Art, etc
Technical
Assistance :
None
Number of Employee
:
12,482 persons
Marketing Area :
a. Domestic
- 35%
b. Export -
65%
Main Customers :
a. P.T. SURYA JAYA PLACE (Distributor)
b. P.T. PERMATA BIRU INDAH
(Distributor)
c. P.T. SUTIO JAYATAMA
(Distributor)
d. P.T. MARGONO
(Distributor)
e. Buyers in Asia, Middle East, Africa, Europe, USA and Australia
Market Situation :
Very Competitive
Main Competitors :
a. P.T. SURABAYA AGUNG KERTAS
b. P.T. RIAU ANDALAN KERTAS
c. P.T. KERTAS LECES
d. P.T. SUPARMA Tbk, etc.
Business Trend :
Declining
B a n k e r s :
a. P.T. Bank INTERNATIONAL INDONESIA Tbk
Plaza BII, Menara II, 7th
Floor
Jalan M.H. Thamrin No. 51
Jakarta 10350
b. The
Bank of AMERICA N.T. & S.A.
Gedung Bursa Efek Jakarta, Menara I
Jalan Jend. Sudirman Kav. 52-53
Jakarta Selatan
c. The
LONG-TERM CREDIT Bank of Japan Ltd.
Singapore
d. DEUTSCHE
Bank, AG
Jalan
Imam Bonjol No. 80
Jakarta Pusat
e. P.T.
INDOSUEZ INDONESIA Bank
Jakarta Branch
SUMMITMAS TOWER II, 19th
Floor
Jalan Jend. Sudirman Kav. 61-62
Jakarta Selatan
f. P.T.
INTERNATIONAL NEDERLANDEN
INDONESIA, Bank
SUMMITMAS TOWER II, 14th
Floor
Jalan Jend. Sudirman Kav. 61-62
Jakarta Selatan
Auditor :
Tjiendradjaja & Handoko Tomo
Litigation :
No litigation record in our database
Annual Sales :
2009 – US$. 1,174.1 million
2010 – US$. 1,338.8 million
2011 – US$. 1,378.7 million
2012 – US$. 1,321.6 million
2013 – US$. 1,222.4 million
Net Profit (Loss)
:
2009 – US$. 31.6 million
2010 – US$. 46.6 million
2011 – US$. 70.4 million
2012 – US$. 34.8 million
2013 – US$. 27.0 million
Payment Manner :
Sometime delay
Financial Comments
:
Satisfactory
Board of Management :
President Director - Mr. Yudi Setiawan Lin
Directors - a. Mrs.
Linda Suryasari Wijaya Limantara
b. Mrs. Indah Suryasari Wijaya Limantara
b. Mr. Hendra Jaya
Kosasih
c. Mr. Anton Mailoa
d. Mr. Suresh Kilam
e. Mr. Agustian Rachmansjah Partawidjaja
e. Mr. Suhendra Wiriadinata
f. Mr.
Arman Sutedja
Corporate
Secretary - Mr.
Agustian Rachmansjah Partawidjaja
Board of Commissioners :
President Commissioner - Mr. Teguh Ganda Widjaja AKA Oei Tie Goan
(Resigned since 16 May 2004)
Vice Pres. Commissioner - Mr. Ir. Gandi Sulistiyanto
Soeherman
Commissioners - a. Drs. John
Ferdinand Pandelaki
b. Mr. Arthur Tahja
c. Drs. Pande Putu Raka, MA
d. Letjen TNI (ret) Soetedjo
e. DR. Ramelan, SH, MH
Signatories :
President Director
(Mr. Yudi Setiawan Lin) or one of the Directors (Mrs. Linda Suryasari Wijaya Limantara, Mrs. Indah Suryasari Wijaya
Limantara, Mr. Hendra Jaya Kosasih, Mr. Anton Mailoa, Mr. Suresh Kilam, Mr.
Agustian Rachmansjah Partawidjaja, Mr. Suhendra Wiriadinata and Mr. Arman
Sutedja) which must be
approved by Presodent Commissioners.
Management Capability :
Good
Business Morality :
Good
Originally named P.T. Pabrik Kertas TJIWI
KIMIA, it was established in October 1972 with an authorized capital of Rp.
200,000,000.- issued capital of Rp. 50,000,000.-
wholly paid-up. Founders and original shareholders are Dr. Eka Tjipta Widjaja
AKA Oei Ek Tjhong and the late his son-in-law Mr. Rudy Maeloa AKA Loa Bon Peang
(died on 5 April 1988) Chinese origin Indonesian business family. The Articles
of Association was made by Mr. Ridwan Suselo, SH., a public notary in Jakarta
and it was approved by the Ministry of Justice Republic Indonesia under its
Decision Letter No. Y.A. 5/439/25 dated 22 December 1975.
Its articles of association have
subsequently been changed for a couple of times. In April 1990, the company
went public by releasing its 6.74% shares to the public through Jakarta Stock
Exchange (BEJ) and Surabaya Stock Exchange (BES). In July 1996, the company
renamed to P.T. Pabrik Kertas TJIWI KIMIA Tbk. (P.T. PKTKT). Later in June
1997, the authorized capital was increased again to Rp. 5,000,000,000,000.- or
US$ 2,010,813,237.00. In July 1997, P.T.
PKTKT undertook right issue I and the issued capital has from that time on
increased to Rp. 1,321,526,432,000.- Later of July 2008, P.T. PKTKT issued the
bonus shares and concurrently the issued and paid-up capital rose again to Rp.
1,335,702,240,000.- or US$ 537,169,549.00.
As of 31 December 2011, the majority business stakes of the company is
controlled by P.T. PURINUSA EKAPERSADA (60%) and the rest is owned by Publics
(40%). The amendment to Articles of
Association has been approved by the Ministry of Law and Human Right in its
Decision Letter No. AHU-42925.AH.01.02.TH.2009, dated 01 September 2009.
The latest, based on notarial Deed No. 24
dated 12 June 2012 of Linda Herawati, SH., notary in Jakarta, MAYFIELD
INVESTMENT Ltd., of British Virgin Island entered into the company as new
shareholder. Since the time, the
shareholders of the company are P.T. PURINUSA EKAPERSADA (59.6), MAYFIELD
INVESTMENT Ltd., (3.6%) and Public (36.8%).
The amendment to Articles of Association has been approved by the
Ministry of Law and Human Right of the Republic of Indonesia in its Decision
Letter No. AHU-AH.01.10-26833 dated 23 July 2012.
P.T. PURINUSA EKAPERSADA (63.4%), a private
company whose majority business stakes is controlled by the Eka Tjipta Widjaja
family. Mr. Eka Tjipta Widjaja AKA Oei
Ek Tjhong is the founder of the SINAR MAS Group is a very large-size private
business group in the country.
P.T. PKTK is the largest paper making plant
in Indonesia whose plant is located in Desa Kramat Temanggung, Kecamatan Tarik,
Sidoarjo, East Java operating as from 1977. Its major production is industrial
and cultural papers, corrugated papers, kraft papers, computer and telex
papers, NRC, Coated and Fine Papers, Lining and Tissue Papers, Duplex Coated
Papers, HVS and Writing papers, Cast Coating papers and others such as
stationery and packaging. Total annual production capacity in 2012 was
1,277,000 tons of papers, 80,000 tons of packaging and 320,000 tons of
stationery.
Besides that, it also produces paper
chemicals including caustic soda, calcium hypocloride, liquid calcium
hypochloride and calcium oxide. Its
production is marketed by the SINAR MAS Group member who has controlled an
extensive marketing network in many countries. Some 35% of the products are
marketed locally and the rest of some 65% is exported to Asia countries (54%),
Central East and Africa (24%), America (10%), Europe (9%) and Australia (3%).
Pursuant to the Company, for the fifth time,
in 2012, PT Pabrik Kertas Tjiwi Kimia received the Primaniyarta Award, an award
for the best Indonesian exporters. The manufacturer received the award for
the Global Brand Development Category. Previously, PT Tjiwi Kimia received
several other Primaniyarta awards in 2006, 2007, 2010, 2011 and 2012.
Beside that P.T. PKTK has ownership interest
of more than 50% in the following subsidiaries which are engaged in real estate,
property, hotel, and information technology business. The table of P.T. PKTK’s subsidiary companies
shall be as follows:
(In US$)
|
Name
of Subsidiary |
Lines
of Business |
Start
of Operations |
% of
Ownership |
Total
Assets (31
Dec. 2013) |
|
PT. Mega Kertas Pratama |
Distributor |
1996 |
99.20 |
7 |
|
Tjiwi Kimia Trading III (BVI) |
Distributor |
1996 |
100.00 |
66,231 |
|
Tjiwi Kimia Finance (Mauritius) Ltd. |
Financing Company |
1997 |
100.00 |
38,453 |
|
TK Trading Limited (Cayman Islands) |
Distributor |
1997 |
100.00 |
17,087 |
|
Tjiwi Kimia trading II Limited, Cayman Island |
Distributor |
1998 |
100.00 |
51,557 |
|
TK Import & Export Ltd., BVI |
Distributor |
2001 |
100.00 |
8,204 |
|
Tjiwi Kimia Finance B.V., the Netherlands |
Financing Company |
2004 |
100.00 |
733,415 |
|
Marshall Enterprise Ltd., Malaysia |
Investment |
2004 |
100.00 |
83.080 |
|
PT. Sumalindo Hutani Jaya |
Forestry |
1992 |
99.99 |
28,303 |
Source: PT. Tjiwi Kimia Tbk
On July 15, 2013, the Company invests in
P.T. OKI PULP & PAPER MILLS. The
detail of this account as of December 31, 2013 is as follows:
|
Investee |
Lines
of Business |
Number
of Shares Held |
% of
Ownership |
Carrying
Value |
|
PT. OKI Pulp & Paper Mills |
Pulp and Paper Industry |
300,000 |
35.29 |
32,344 |
According to financial statement the total
sales turnover of P.T. PKTK in 2007 amounted to US$ 1,154.9 million with a net
profit of US$ 10.1 million increased to US$ 1,358.8 million with a net profit
of US$ 51.7 million in 2008 declined to US$ 1,174.1 million with a net profit
of US$ 31.7 million in 2009 rose again to US$ 1,338.8 million with a net profit
of US$ 46.6 million in 2010 to US$ 1,378.7 million with a net profit of US$
70.4 million in 2011 dropped to US$ 1,321.6 million with a net profit of US$
34.8 million in 2012 and dropped again to US$ 1,222.4 million with a net profit
of US$ 27.0 million in 2013. Up to present, we have yet to gain the statement
of income of P.T. PKTK as of 30 June 2014.
Financial Statement of the Company per 31 December 2010, 2011, 2012 and
2013 is attached below.
The management is headed by Mr. Yudi
Setiawan Lin AKA Lim Yun Shiang (67) an experienced professional manager in
pulp & paper industry and marketing. He graduated from China Culture
Academy, Taiwan, ROC, in Pulp & Paper Technology. In daily activities, he is assisted by eight
directors namely Mrs. Linda Suryasari Wijaya Limantara (33), Mrs. Indah
Suryasari Widjaya Limantara (32), Mr. Hendra Jaya Kosasih (54), Mr. Anton
Mailoa (49), Mr. Suresh Kilam (63), Mr. Agustian Rachmansjah Partawidjaja (62),
Mr. Suhendra Wiriadinata (46) and Mr. Arman Sutedja (41). The management has maintained a wide business
relation among private national and foreign businessmen as well as among
government agencies. So far, we did not
hear that the company’s management involved in the business malpractices or
detrimental cases that settled in the country. The company’s litigation record
is clean and it has not registered with the black list of Bank of Indonesia.
Considering the operation of the company
declined in 2012 and 2013, we recommend to treat prudently in extending any new
loan to the company.
P.T. Pabrik Kertas TJIWI KIMIA Tbk
FINANCIAL STATEMENTS
Per 31 December
2010, 2011, 2012 and 2013
(in thousand US dollar )
|
DESCRIPTION |
31
December |
|||
|
2013 |
2012 |
2011 |
2010 |
|
|
1. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Cash
Equivalent |
|
|
|
|
|
* Third Parties |
113,261 |
181,476 |
174,119 |
141,519 |
|
* Related Parties |
2,061 |
7,916 |
9,533 |
23,452 |
|
- Trade Receivable |
|
|
|
|
|
* Third Parties |
34,351 |
39,839 |
38,881 |
56,383 |
|
* Related Parties |
73,270 |
134,648 |
204,322 |
191,563 |
|
- Other Trade
Receivable – net |
7,672 |
621 |
488 |
506 |
|
- Inventories |
374,057 |
348,518 |
312,406 |
287,212 |
|
- Advances and prepaid
expenses |
295,525 |
170,928 |
188,221 |
110,054 |
|
- Prepaid Taxes |
38,060 |
23,375 |
13,732 |
17,382 |
|
- Other current assets |
|
|
|
|
|
* Third Parties |
245,563 |
341,527 |
152,612 |
25,374 |
|
* Related Parties |
15,084 |
13,824 |
56,675 |
64,254 |
|
Total Current Assets |
1,198,904 |
1,262,551 |
1,150,989 |
917,699 |
|
b. Non-current Assets |
|
|
|
|
|
- Trade receivables –
related parties |
36,670 |
51,099 |
60,603 |
66,2898 |
|
- Other receivables –
related parties |
154,891 |
155,205 |
152,811 |
148,610 |
|
- Deferred Tax Assets |
1,646 |
1,044 |
534 |
650 |
|
- Investment in
associated company |
25,768 |
-- |
-- |
-- |
|
- Long-term Investment |
820 |
1,034 |
1,103 |
1,112 |
|
- Industrial Timber
Estate – net of accumulated
amortization |
167 |
167 |
167 |
2,002 |
|
- Industrial Timber
Estate – under development |
25,054 |
22,136 |
17,855 |
9,042 |
|
- Fixed assets – net of
acc. depreciation |
1,152,312 |
1,179,546 |
1,175,226 |
1,174,173 |
|
- Goodwill – net of acc.
amortization |
6,391 |
6,391 |
6,391 |
6,391 |
|
- Other non-current
assets |
2,333 |
2,869 |
3,218 |
3,787 |
|
Total Non-Current Assets |
1,406,052 |
1,419,491 |
1,417,908 |
1,412,055 |
|
TOTAL ASSETS = TOTAL LIABILITIES AND EQUITY |
2,604,956 |
2,682,042 |
2,568,897 |
2,329,754 |
|
2. LIABILITIES
AND EQUITY |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Short term Liabilities |
349,715 |
337,632 |
227,950 |
105,997 |
|
- Trade Payable |
|
|
|
|
|
* Third Payables |
39,802 |
41,614 |
58,091 |
60,164 |
|
* Related Payable |
5,282 |
10,434 |
9,558 |
17,874 |
|
- Other Payables – third
parties |
10,212 |
12,175 |
9,491 |
11,545 |
|
- Advances from customers |
|
|
|
|
|
* Third parties |
24,954 |
19,822 |
20,907 |
8,795 |
|
* Related parties |
111 |
258 |
273 |
238 |
|
- Accrued Expanses |
9,044 |
64,109 |
61,489 |
47,026 |
|
- Taxes Payable |
1,911 |
3,254 |
3,411 |
12,224 |
|
- Current maturities of
long-term liabilities |
|
|
|
|
|
* Lease liabilities |
47 |
-- |
23 |
138 |
|
* Bank loan |
15,057 |
6,000 |
12,988 |
8,137 |
|
* Loans, notes payable
and bonds |
54,060 |
29,145 |
194,109 |
146,259 |
|
Total Current Liabilities |
515,493 |
524,443 |
598,290 |
418,397 |
|
|
|
|
|
|
|
b. Non-Current Liabilities |
|
|
|
|
|
- Deferred Tax
Liabilities |
38,447 |
50,030 |
52,167 |
53,684 |
|
- Other Payables –
related parties |
9,112 |
14,052 |
16,805 |
8,853 |
|
- Employee Benefits
Obligation |
40,638 |
47,451 |
45,935 |
41,590 |
|
- Long term liabilities |
|
|
|
|
|
* Lease liabilities |
102 |
-- |
23 |
161 |
|
* Bank loan |
150,596 |
104,324 |
37,534 |
16,274 |
|
* Loans – net |
217,797 |
251,532 |
309,829 |
304,188 |
|
* Notes payable and
bonds |
908,968 |
951,067 |
973,307 |
965,764 |
|
- Current maturities of
long-term liabilities |
|
|
|
|
|
* Lease liabilities |
(47) |
-- |
(23) |
(138) |
|
* Bank loan |
(15,057) |
(6,000) |
(12,988) |
(8,137) |
|
* Loans, notes payable
and bonds |
(59,358) |
(29,145) |
(194,109) |
(146,259) |
|
Total Non-Current Liabilities |
1,291,198 |
1,383,311 |
1,228,480 |
1,235,980 |
|
3. TOTAL EQUITY |
|
|
|
|
|
- Issued and Paid up Capital |
537,169 |
537,169 |
537,170 |
537,170 |
|
- Additional paid in capital |
30,201 |
30,201 |
30,201 |
30,201 |
|
- Difference arising from
transaction |
(1,986) |
(1,986) |
(1,986) |
-- |
|
- Exchange differences due to financial
statements translation |
2,038 |
1,666 |
831 |
415 |
|
- Retained Earnings |
230,842 |
207,238 |
175,912 |
107,592 |
|
Total Equity |
798,265 |
774,288 |
742,127 |
675,377 |
|
|
|
|
|
|
|
3. INCOME
STATEMENT |
|
|
|
|
|
a. Total/Net Sales |
1,222,356 |
1,321,641 |
1,378,740 |
1,338,766 |
|
b. Cost of Goods Sold |
(1,072,807) |
(1,105,457) |
(1,145,880) |
(1,117,277) |
|
c. Gross Profit |
149,549 |
216,184 |
232,860 |
221,489 |
|
d. Operating Expenses |
(118,350) |
(130,274) |
(127,463) |
(142,467) |
|
e. Operating Profit (Loss) |
31,199 |
85,910 |
105,397 |
79,022 |
|
f. Other Income (Expenses) |
(16,374) |
(44,283) |
(14,906) |
(16,965) |
|
g. Profit (Loss) Before
Income Tax |
14,825 |
41,627 |
90,491 |
62,057 |
|
h. Tax Benefit (Expense) -
Net |
12,185 |
(6,810) |
(20,079) |
(15,485) |
|
i. Income Before Pre-Acquisition Loss |
27,010 |
34,627 |
70,412 |
46,572 |
|
j. Pre-acquisition loss |
-- |
-- |
-- |
-- |
|
m. Net Profit (Loss) |
27,010 |
34,817 |
70,412 |
46,572 |
Note: As of 31 Dec. 2010, 2011, 2012 and 2013 is
audited by Tjiendradjaja & Handoko Tomo
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.