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Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PENTA CHEMICALS INDONESIA |
|
|
|
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Registered Office : |
Talavera Office
Park 28th Floor Jalan T.B. Simatupang Kav. 22-26
Jakarta Selatan, 12430 |
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|
|
|
Country : |
Indonesia |
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|
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Date of Incorporation : |
June 2003 |
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|
|
Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Subject is engaged in the field of specialty chemical manufacturing |
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|
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No. of Employees : |
55 |
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 – 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. PENTA CHEMICALS INDONESIA
Head Office
Talavera Office
Park 28th Floor
Jalan T.B. Simatupang Kav. 22-26
Jakarta Selatan, 12430
Indonesia
Phones -
(62-21) 7599 9823 (Hunting)
Fax - (62-21) 7599 9824
E-mail - info@penta-chem.com
Website - http://www.penta-chem.com
Building Area - 34 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Factory
Kawasan Industri
Jababeka Phase II Block OO No. 3G
Cibitung, Cikarang
Bekasi, 17530
West Java
Indonesia
Mobile - 081 3100
86009, 081 110 45013
E-mail - kadek.adistrayana@penta-chem.com
Land Area - 5,000 sq.
meters
Building Space - 1,200 sq. meters
Region - Industrial
Estate
Status - Rent
Date of Incorporation :
June 2003
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-AH.01.10-31981
Dated 31 July
2013
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
1,600,000,000.-
Issued Capital : Rp.
1,000,000,000.-
Paid up Capital : Rp.
1,000,000,000.-
Shareholders/Owners
:
a. Mr. Yulianhart Deges - Rp.
990,000,000.-
Address :
Jl. Palem Kuning Raya No. 37 LC
Kelurahan
Cikarang Selatan, Kecamatan
Cikarang
Selatan, West Java
Indonesia
b. Mr. Felix Borkosav Sorensen Deges -
Rp. 10,000,000.-
Address : Jl. Palem Kuning Raya
No. 37 LC
Kelurahan
Cikarang Selatan, Kecamatan
Cikarang
Selatan, West Java
Indonesia
Lines of
Business :
Specialty
Chemical Manufacturing
Production
Capacity :
Concrete
Admixtures - 2,500
tons p.a.
Total
Investment :
Owned Capital - Rp. 1.6
billion
Started
Operation :
2003
Brand Name :
Penta 12
Technical
Assistance :
None
Number of Employee :
55 persons
Marketing Area :
Local - 100%
Main Customer :
Building Material Distributors and
Building Contracting
Market Situation :
Very Competitive
Main Competitors :
a. P.T. EPOXINDO ART LESTARI
b. P.T. FOSROC INDONESIA
c. P.T. GRACE SPECIALTY CHEMICAL
INDONESIA
d.
P.T. SPECTRO INTI PRATAMA
Business Trend :
Growing
B a n k e r s
:
a. P.T. Bank CENTRAL ASIA Tbk
Ruko Metro
Boulevard Block A 21 & A 22
Kawasan
Jababeka, Cikarang
Bekasi, West Java
Indonesia
b. STANDARD CHARTERED Bank
Wisma Standar Chartered Bank
Jalan Prof. Dr. Satrio 164
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales (estimated)
:
2011 – Rp. 17.8
billion
2012 – Rp. 18.4
billion
2013 – Rp. 19.8
billion
Net Profit
(estimated) :
2011 – Rp. 1.4
billion
2012 – Rp. 1.5
billion
2013 – Rp. 1.6
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
Director - Mr. Yulianhart Deges
Board of Commissioners :
Commissioner -
Mr. Kandali Ahmad Lubis
Signatories :
Director (Mr. Yulianhart
Deges) which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. PENTA CHEMICALS INDONESIA (ex P.T. PENTA KIMIA SELARAS) was
established in Jakarta in June 2003 by Mr. Yulianhart Deges and his son Mr.
Felix Borkosav Sorensen Deges, both are Indonesia business family of Chinese
extraction. The company notary deed has been changed a couple of times and
according to the latest revision of notary documents of Mrs. Lily Fitriyani,
SH., No. 20 dated 23 July 2013 the company authorized capital was amounted at
Rp. 1,600,000,000 issued capital of Rp. 1,000,000,000 fully and paid up. With
this time the composition of its shareholders has been changed to become Mr.
Yulianhart Deges (99%) and his son Mr. Felix Borkosav Sorensen Deges (1%). The
deed of amendments was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-AH.01.10-31981 dated July 31, 2013.
P.T. PCI has been operating since 2003 engaged in the field of specialty
chemical manufacturing. The plants is located at Kawasan Industri Jababeka
Phase II Block OO No. 3G, Cikarang, Bekasi, West Java standing on 5,000 sq.
meters landside. The company produces of concrete admixture additives of 2,500
tons per annum. The company has established its name in a short span of nine
years in the field of specialty chemicals and manufactures specialty chemicals
for the cement industry. The main products manufactured are regular cement
grinding aids, concrete super plasticiser, cement performance enhancer. The
company products for concrete admixtures and dry mortar additives are in the
development stage. The company is a reliable supplier of specialty chemicals
with quality products which are supplied to major cement manufacturers in
Indonesia for a considerable period of time. The commitment to quality and
adhering to deadlines has enabled the company to make goodwill within a short
time in the highly competitive business. The company is driven by the highly
professional and committed workforce who has a vast experience in the field.
The R & D wing of the company is focused on the customer service .The company
also customizes the products based on the customer’s specific requirements and
gives support at customer site in the application of the products. The whole
products supplied through building material trader and shops, building
contracting, general contracting and others by using PENTA 12 and PENTA Series
brands. Used in production of cement to increase flow ability product, reduce
pack-set and increase grinding efficiency. Others benefits using this product
are reduce unit power cost and easier handling cement product. We observe P.T.
PCI is classified a small-size company of its kinds in the country which
operation has been running and developing well in the last three years.
Generally outlook, the demand for industrial specialty chemicals
including concrete admixtures, cement additives, can sealing compound and can
coating has kept on fluctuating in Indonesia in the last five years in line
with the growth of concrete pole manufacturing industry for property, road and
bridges in Indonesia. Besides, the demand growth has also affected by can
making industry whose products are used by food and beverages processing
industry in Indonesia. It is estimated that the demand growth will be on rising
by 6% per annum within the coming three years. Market competition is very tough
on account of many other similar companies operating in the country to date.
Until this time P.T. PCI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement. The
management of P.T. PCI 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. 17.8 billion rose to Rp. 18.4 billion in 2012
increased to Rp. 19.8 billion in 2013 and projected to go on rising by at least
6% in 2014. The operation in 2013 has yielded a net profit of Rp. 1.6 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. PCI is led by Mr. Yulianhart Deges (53) a
businessman and professional manager with experience in admixtures additives
manufacturing and trading. 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. PENTA CHEMICALS
INDONESIA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
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.