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Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. DIHEN BERSAMA |
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|
|
|
Registered Office : |
Gedung Wisma Abadi 3rd
Floor Suite 3-C Jalan
Kyai Caringin No. 29-31 Petojo Selatan, Gambir Jakarta Pusat, 10160 |
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Country : |
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Date of Incorporation : |
08.08.1997 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and
Distribution of Stainless Steel Products |
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No. of Employees : |
28 |
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 |
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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) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, grew more than 6% annually in 2010-12. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a fiscal deficit below 3%, 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 in 2013 faces the ongoing challenge of improving Indonesia''s insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of high oil prices
|
Source
: CIA |
P.T. DIHEN BERSAMA
Head Office
Gedung Wisma Abadi 3rd Floor
Suite 3-C
Jalan Kyai Caringin No. 29-31
Petojo Selatan, Gambir
Jakarta Pusat, 10160
Indonesia
Phones -
(62-21) 389 00938, 389 00939
Fax - (62-21) 389 00937
E-mail - sales@dihenbersama.com
Website - http://www.dihenbersama.com
Building Area - 4 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Warehouse and Operational Office
Jalan Pangeran Jayakarta No. 66/B6
Jakarta Pusat, 10730
Indonesia
Phones -
(62-21) 659 3339 (Hunting)
Fax - (62-21) 628 951
E-mail - sales@dihenbersama.com
Building Area - 1 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
8 August 1997
Legal Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No.
C2-12.091 HT.01.01.TH.98
Dated
25 August 1998
- No.
AHU-33782.AH.01.02.TH.2009
Dated
17 July 2009
- No.
AHU-AH.01.10-30026
Dated
17 July 2009
- No.
AHU-AH.01.10-30026
Dated
22 July 2013
Company Status :
National Private Company
Permit by the Government Department
:
The Department of Finance
NPWP No. 01.820.233.3-073.000
The Department of Industry and Trade
TDP No. 09051636888
Dated 19 November 1998
Related Companies :
a. P.T.
OHTORI INDONESIA (Valve Manufacturing)
b. P.T.
PARADISE PERKASA (Holding Company)
Capital
Structure :
Authorized
Capital : Rp. 10,000,000,000.-
Issued Capital : Rp. 2,500,000,000.-
Paid up Capital : Rp. 2,500,000,000.-
Shareholders/Owners
:
a. Mr. Henry Leo -
Rp. 1,250,000,000.-
Address : Jl. Griya Mulia
Block G No. 3, RT. 007 RW. 020
Kelurahan Sunter Agung, Kecamatan Tanjung
Priok, Jakarta Utara
Indonesia
b. Mr. Teddy Leo -
Rp. 1,250,000,000.-
Address : Mediterania
Block A No. 30, RT. 011 RW. 006
Kelurahan papanggo, Kecamatan Tanjung
Priok, Jakarta Utara
Indonesia
Lines of
Business :
Trading and
Distribution of Stainless Steel Products
Production
Capacity :
None
Total
Investment :
None
Started Operation :
1998
Brand Name :
Dihen Bersama
Technical Assistance :
None
Number of Employee :
28 persons
Marketing Area :
Local - 100%
Main Customer :
Industrial Manufacturing
Market Situation :
Very Competitive
Main Competitors :
a. P.T. AVESTINDO PERDANA
b. P.T. HECO PERKASA PRATAMA
c. P.T. KAHAJAYA SEMESTA
d. P.T. PRAKARSALANGGENG MAJUBERSAMA
e. Etc.
Business Trend :
Growing
B a n k e r :
P.T. Bank CENTRAL
ASIA Tbk
Jalan Pangeran Jayakarta 26 Block A 2-3
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales (estimated)
:
2011 – Rp. 52.0 billion
2012 – Rp. 58.0 billion
2013 – Rp. 63.0 billion
Net Profit
(estimated) :
2011 – Rp. 3.6 billion
2012 – Rp. 4.1 billion
2013 – Rp. 4.4 billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Teddy Leo
Board of Commissioners :
Commissioner -
Mr. Henry Leo
Signatories :
Director (Mr. Teddy Leo)
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. DIHEN BERSAMA (P.T. DB) was set-up in Jakarta on 8 August 1997 with
the authorized capital of Rp. 100,000,000 issued
capital of Rp. 25,000,000 entirely paid up. The
company was founded by Kho Kuan
Bin and his son Mr. James Leo both are Indonesian business family of Chinese
extraction. The company notary deed had been changed a couple of times and June
2009 the company authorized capital was increased to Rp.
10,000,000,000 issued capital to Rp. 2,500,000,000
fully and paid up. On the same occasion Mr. Kho Kuan Bin withdrew and replaced by Mr. Henry Leo as new
shareholder. With this development the composition of its shareholders has been
changed to become Mr. Teddy Leo (50%) and his young brother Mr. Henry Leo
(50%). Then according to the latest revision of notary deed Mr. Karin
Christiana Basoeki, SH., No. 21 dated 11 June 2013
the company board of director and the board of commissioner re-elected to lead
and runs of the company’s operation. The deed of amendments was approved by the
Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-30026
dated July 22, 2013.
P.T. DB has been operating since 1998 dealing with trading, import,
stockiest, distribution and supplied of stainless steel products. The merchandise
good products are stainless steel coil/plate; stainless steel round bar;
stainless steel angle bar; stainless steel pipe seamless/welded and stainless
steel fitting wholly imported from Japan, Spain, Germany, South Korea, China
and India. The company sells of stainless steel products by using ACERINOX,
THYSENKRUPP, COLOMBUS, OUTOKUMPU, NISSIN STEEL, POSCO, VIRAJ Profile, SUMITOMO,
TUBACEX, TA CHEN, YEUN CHYAN, TG PRO, SUPERINOX, YHMCO, BKL, KOFCO and METALFAR
brands. Nowadays, markets aren’t just
demanding for the sustainability and reliability of supplies, but also the
ability to become a solution provider for their business needs. Therefore, P.T.
DB is shifting its business focus, which currently aiming to become a business
solution company and strategic business partner for its valuable customers. The
company has many stocks variety and availability for plates/coils, pipes, round
bars, angle bars, and fittings, which it can become one stop services for
customers to seek for stainless steel materials. Aligned with the
company’s objectives, P.T. DB implements Quality Management System ISO 9001:
2008 since 2007. This quality management system was implemented to ensure that
through their business processes will achieve the best customer satisfaction.
The whole products supplied to various contractor and fabrications, chemical
and petrochemical plants, oleo chemical plants, refinery plants, food and
beverages plants, pharmaceutical plants and others in Jakarta and other cities
in the country. We observe the operation of P.T. DB has been growing and
developing well in the last three years.
Generally, demand for stainless steel products for industries in the
country had been increasing by 6% on the average per annum in the last five
years. In 2012, the global economic downturn still continued. However,
Indonesia’s economy continues to show encouraging performance and stability has
been well maintained. This can be seen from the results of a study conducted by
Bank Indonesia, as generally seen from several indicators that had affected the
growth of Indonesia’s economy, which include:
(1)
Real
GDP growth of 6.2 percent year-on-year in the third quarter. Although this
growth rate was slightly lower 6.4% in the second quarter, however, it is the
eight quarterly growth record of over 6% in succession,
(2)
The
Rupiah exchange rate depreciated despite its
volatility could be maintained at a relatively low level. On average, the Rupiah depreciated by 6.3% (yoy)
to Rp9.358 per U.S. dollar from Rp8.768 per U.S. dollar in 2011. Meanwhile,
point-to-point, the Rupiah depreciated by 5.91% and
closed at Rp. 9.638 per U.S. dollar with a better
maintained volatility at the level of 4.3% (annualized). The curbed Rupiah volatility is closely linked to Bank Indonesia
policy in stabilizing the exchange rate to keep the Rupiah
volatility at low levels,
(3)
The
inflation rate remained under control at a low level in the range of 4.5% ± 1%.
The controlled inflation is the result of Bank Indonesia policy, supported by
the improving policy coordination with the Government.
Indonesia’s economic stability and growth is certainly able to encourage
national banking business development. Throughout 2012, the national banking
intermediation function was increasing as characterized by high credit growth,
particularly in the productive sectors. By the end of November 2012, credit
growth reached 22.3%. The high credit growth was mainly distributed in the form
of investment credit. Investment credit recorded the highest growth at 29.8% (yoy), followed by working capital credit growth by 26.1% (yoy) and consumer loans by 12.1% (yoy).
The credit growth was supported by an environment so conducive that Bank
Indonesia managed to keep its benchmark interest rate or BI Rate in December
2012 at the level of 5.75 percent. This means BI managed to maintain the BI
rate for 11 months from February 2012. The interest rate remained consistent
with low inflation pressures and controlled in accordance with the inflation
target in 2012 and 2013 at the level of 4.5 plus minus 1 percent. Therefore,
bank loan and deposit interest rates decreased during 2012, in line with the
decline of money market interest rates.
Until this time P.T. DB has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. DB 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. 52.0 billion rose to Rp. 58.0 billion in 2012 increased to Rp.
63.0 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. 4.1 billion and the company has an estimated total networth of at least Rp. 10.0
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. DB is led by Mr. Teddy Leo (45) a businessman and
professional manager 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. DIHEN BERSAMA
is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.84.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.