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Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. UNGGUL
PRAKARSA PRISMA |
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Registered Office : |
Intercon Plaza Blok D No. 9, Jl. Meruya Ilir Raya,
Srengseng, Kembangan, |
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Country : |
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Date of Incorporation : |
21.10.1999 |
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Com. Reg. No.: |
No. AHU-14788.AH.01.02.Tahun 2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in dealing
with Trading, Supplying and Distribution of Technical Goods such as Valve
Instruments, Measuring Instrument, Actuators, Pneumatic, Gauges, Pipe &
Fittings, as well as Process Controls for
Petrochemical, Pulp & Paper Industries and New Project in |
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No of Employees : |
36 |
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
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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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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate 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.
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Source : CIA |
P.T. UNGGUL PRAKARSA
PRISMA
Head Office
Intercon Plaza
Blok D No. 9
Jl. Meruya Ilir
Raya,
Srengseng,
Kembangan
Jakarta Barat
11630
Indonesia
Phone -
(62-21) 5890 1302, 585 2531, 586 0158
Fax - (62-21) 530 4380, 530 4885
Email - unggulpp@upp.co.id
Building Area - 4 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Owned
21 October 1999
P.T. (Perseroan
Terbatas) or Limited Liability Company
The Ministry of
Laws and Human Rights
a. No.
C-21860.HT.01.01.TH.2000
Dated 04 October 2000
b. No.
C-UM.02.01.1241
Dated 27 January 2005
c. No.
AHU-32618.AH.01.02.Tahun 2008
Dated 12 June 2008
d. No. AHU-14788.AH.01.02.Tahun
2011
Dated 23 March 2011
National Private
Company
a. The Department of
Finance
NPWP No. 01.957.232.0-026.000
b. The Department of
Industry and Trade
SIUP/TDUP No. 01731/1.824.51
Dated 19 May 2005
Not available
Capital
Structure :
Authorized Capital - Rp. 1,000,000,000.-
Issued Capital - Rp. 800,000,000.-
Paid up Capital - Rp. 800,000,000.-
Shareholders/Owners
:
a. Mr. Irwan
Subhakti Kiswandono -
Rp. 392,000,000.- (49%)
Address : Jl. Taman Kebon Jeruk
P.3/12A
Kelurahan
Srengseng, Kembangan
Jakarta Barat
Indonesia
b. Mrs. Lany Wati -
Rp. 408,000,000.- (51%)
Address : Jl. Danau Permai
Timur II C.2/4
Kelurahan
sunter Jaya, Tg. Priok
Jakarta Utara
Indonesia
Lines of
Business :
Engaged in dealing
with Trading, Supplying and Distribution of Technical Goods such as Valve
Instruments, Measuring Instrument, Actuators, Pneumatic, Gauges, Pipe &
Fittings, as well as Process Controls for
Petrochemical, Pulp & Paper Industries and New Project in Indonesia
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2000
Technical
Assistance :
None
Number of
Employee :
36 persons
Marketing Area
:
Local - 100%
Main Customers
:
a. P.T. Pertamina
b. P.T. Krakatau
Engineering
c. Perusahaan Daerah
Air Minum
d. Foreign Oil
and Gas Companies
e. Etc.
Market
Situation :
Very Competitive
Main
Competitor :
a. P.T. Sinar Ms
Andhika
b. P.T. Alphacon
Valfindo
c. P.T.
Contromatic Prima Mandiri
d. P.T. Pancatama
Abadi Sakti
e. P.T. Maseir
Control
f. P.T. Flow Solution Indonesia
g. Etc.
Business Trend
:
Growing
Bankers :
a. P.T. Bank
CENTRAL ASIA Tbk.
Wisma BCA
Jl. Jend. Sudirman Kav. 22-23
Jakarta Selatan
a. P.T. Bank
NEGARA INDONESIA Tbk
Wisma BNI Kota 46
Jl. Jend. Sudirman Kav. 1
Jakarta Selatan
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2010 – Rp. 36.0 billion
2011 – Rp. 43.0 billion
2012 – Rp. 49.3 billion
2013 – Rp. 56.0 billion
Net Profit (Loss) :
2010 – Rp. 2.2 billion
2011 – Rp. 2.6 billion
2012 – Rp. 3.0 billion
2013 – Rp. 3.4 billion
Payment Manner :
Fairly good
Financial Comments :
Satisfactory
Board of
Management :
Director - Mr. Irwan Subhakti Kiswandono
Board of
Commissioner :
Commissioner -
Mrs. Lany Wati
Signatories :
Director (Mr. Irwan Subhakti Kiswandono)
which must be approved by Board of Commissioner
Management
Capability :
Good
Business Morality
:
Good
P.T. UNGGUL PRAKARSA PRISMA (P.T. UPP) was established in Jakarta on October 21, 1999 with the authorized capital of Rp. 100,000,000 of which Rp. 50,000,000 was issued and fully paid up. The founding shareholders of the company are Mr. Irwan Subhakti Kiswandono (49%) and Mrs. Lany Wati (51%), both are Indonesian entrepreneurs of Chinese extraction. The articles of association of the company have frequently been revised. In November 2004, the authorized capital was raised to Rp. 1,000,000,000 of which Rp. 500,000,000 was issued and fully paid up. This Deed of amendment was approved by the Minister of Law and Human Rights of the Republic of Indonesia by virtue of Decision Letter No. C-UM.02.01.1241, dated 27 January 2005 and No. AHU-32618.AH.01.02.Tahun 2008 dated 12 June 2008.
Most recently by notarial Deed of Veronica Indrawati, SH.,
No. 11 dated March 3, 2011 the issued capital was raised from Rp. 500,000,000
to Rp. 800,000,000.- entirely was paid up.
But, no changes have been effected in term of its
shareholding composition to date. The amendment to Deed has been approved by
the Minister of Law and Human Rights of the Republic of Indonesia through its
Decree No. AHU-14788.AH.01.02.Tahun 2011 dated March 23, 2011.
P.T. UPP has been in commercial operation since 2000 dealing with trading, supplying and distribution of technical goods such as valve instruments, measuring instrument, actuators, pneumatic, gauges, pipe & fittings, as well as process controls. Ms. Lisa, a marketing staff of the company said that her company is appointed as sole distributor and stockiest by Asahi AV (Manufal and Automatic Valve, etc) of Japan, Crane Resistoflex (Teflon PTFE-PP Flexible Hoses, etc) of the USA, Fujikin (Ceramic Ball/Lug Vales, Manifold, etc) of Japan, Fetterolf (Darin-Sampling-Disc/Ram/flush Bottom Outlet Vales) of USA, and Schuf of Germany, Forbes Marshall (Rotary Joint, Syphons, Thermo-compressor, etc) of India, Graphite India (HCL Synthesis Unit-Production High Purity HCL solution, etc) of India, Hisaka Heat Exchanger of Japan, Krombach Armaturen of Germany, Metaltek Int’l of the USA, Saunders of United Kingdom, TPS Fin Tubes of Germany, Vass (Knife Gate Valve Carbon Steel and Stainless Steel) of India, Phoenix Armaturen (Automated Vales with Flushed Bellow) of Germany, Xomox Tufline (Fully Lined Plug Ball, Slleve Plug Valves, etc) of Germany/USA and Zeppelin (Silo, Blending, Conveying, Component, Mixing Technology Pneumatic/Hydraulic, etc) of Germany.
The company’s merchandising products are supplied to state owned oil and gas company P.T. PERTAMINA, P.T. KRAKATAU ENGINEERING (a subsidiary of PT. KRAKATAU STEEL), Perusahaan Daerah Air Minum (PDAM) and foreign oil and gas companies, petrochemical industries, pulp and paper industries, and other new project in Indonesia. We observed that P.T. UPP is classified as a medium sized company in the country dealing with trading, supplying and distribution of technical goods of which the operation had been running smoothly and growing in the last five years.
Generally, the demand for technical goods and industrial valve products in the country had significantly rising by 8% to 10% per year in the last five years, in line with the growth of various industrial sectors like oil industries, petrochemical industries, pulp and paper industries and others in the above period as consumers. But, as from October 2008, the demand growth for technical good and industrial valves has kept on dwindling as an impact of global economic crisis as told above. 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.
Market competition is very tight due to a large number of similar companies operating in the country. Business position of P.T. UPP is favorable for it has controlled a wide marketing network at home and their product has been widely known among consumers in the country.
P.T. UPP is neither public listed nor bond issued company. Therefore, the company has no obligation to publish financial statement publicly. The management of P.T. UPP is very reclusive towards outsiders and strongly rejected to disclose its financial condition. However, we estimated that total sales turnover of the company in 2011 amounted to Rp. 43.0 billion went up to Rp. 49.3 billion in 2012 rose again to Rp. 56.0 billion in 2013 and projected to be rising by 8% in 2014. The operation of the company in 2013 is estimated to have gained a profit of at least Rp. 3.4 billion with an estimated networth of Rp. 20.0 billion. So far, we did not hear that of P.T. UPP having been black listed by Bank Indonesia (Central Bank) and registered in district court for detrimental cases. The company usually pays its debts punctually to suppliers.
The management of P.T. UPP is headed by Mr. Irwan Subhakti Kiswandono (58), a businessman with more than 23 years experience in trading, supplying and distribution of technical goods such as industrial valves and measuring instruments. In his daily activities, he is assisted by Mrs. Lany Wati (53) as a commissioner. They have close relations with many high-ranking government officials as well as with private businessmen within and outside the country. 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.
P.T. UNGGUL PRAKARSA PRISMA is sufficiently fairly good for business transaction. However, in view of the political situation in the country is warming we recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.79 |
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UK Pound |
1 |
Rs.102.42 |
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Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
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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.