|
Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. SAKURA HANA |
|
|
|
|
Registered Office : |
ITC Mega Grosir Cempaka Mas 8th Floor No. 12 – C, Jalan Letjend.
Suprapto, Kelurahan Cempaka Baru, Kecamatan Kemayoran, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
30.04.2008 |
|
|
|
|
Com. Reg. No.: |
No. AHU-33895.AH.01.01.TH.2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading and Exporter of Ammonia and Fertilizers |
|
|
|
|
No. of Employees : |
7 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
Name of Company :
P.T. SAKURA HANA
A d d r e s s :
Head Office
ITC Mega Grosir Cempaka Mas 8th Floor No. 12 – C
Jalan Letjend. Suprapto
Kelurahan Cempaka Baru, Kecamatan Kemayoran
Jakarta Pusat, 10640
Indonesia
Phones -
(62-21) 42889082, 42889084
Fax - (62-21) 42889040
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
30 April 2008
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
No. AHU-33895.AH.01.01.TH.2008
Dated 17 June 2008
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
Not Available
Related Company :
None
Capital Structure :
Authorized Capital : Rp.
1,000,000,000.-
Issued Capital :
Rp. 250,000,000.-
Paid up Capital :
Rp. 250,000,000.-
Shareholders/Owners :
a. Mrs. Dra. Lindawati - Rp. 225,000,000.-
Address : Komplek Bukit Raflesia Block E3/07, RT. 01
RW. 05, Kelurahan
Harjamukti, Kecamatan
Cimanggis, Depok, West Java
Indonesia
b. Mrs. Retri Susilo Hesti -
Rp. 25,000,000.-
Address : Komplek Bukit Raflesia Block E3/07, RT. 01
RW. 05, Kelurahan
Harjamukti, Kecamatan
Cimanggis, Depok, West Java
Indonesia
Lines of Business :
Trading and Exporter of Ammonia and Fertilizers
Production Capacity :
None
Total Investment :
None
Started Operation :
June 2008
Brand Name :
Sakura Hana
Technical Assistance :
None
Number of Employee :
7 persons
Marketing Area :
Export - 100%
Main Customer :
Buyers in Asian Countries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. AGRI MANUNGGAL SEJATI
b. P.T. BIOTAMA TETHINDO
c. P.T. INDEVCO INTERNUSA
d. P.T. MEROKE TETAP JAYA
e. P.T. MULTI MAS CHEMINDO
Business Trend :
Growing
B a n k e r :
P.T. Bank MANDIRI Tbk
Komplek Pertokoan Graha Cempaka Mas Block A 24-25
Jalan Letjed. Suprapto
Cempaka Baru, Kemayoran
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 5.7 billion
2012 – Rp. 6.2 billion
2013 – Rp. 7.0 billion
Net Profit (estimated) :
2011 – Rp. 342 million
2012 – Rp. 372 million
2013 – Rp. 420 million
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
Director - Mrs. Dra. Lindawati
Board of Commissioners :
Commissioner - Mrs. Retri Susilo Hesti
Signatories :
Director (Mrs. Dra. Lindawati) which
must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Based on investigation results the correct name of the Subject is P.T. SAKURA
HANA not P.T. SAKURA HAMA as stated in your order ref. no. 275895 dated 7 July
2014.
P.T. SAKURA HANA (P.T. SH) was established in Jakarta based on notary
deed Mrs. Sri Hastuti, SH., no. 13 dated 30 April 2008 with the authorized
capital of Rp. 1,000,000,000 issued capital of Rp. 250,000,000 fully and paid
up. The founding and shareholders of the company are Mrs. Dra. Lindawati (90%)
and Mrs. Retri Susilo Hesti (10%) both are indigenous businessmen. Based on our
knowledge up to writing the report the notary documents of the company have not
undergone any changes. The notary deed of incorporation was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-33895.AH.01.01.TH.2008 dated June 17, 2008.
P.T. SH is a national private company started to be operating since June
2008 dealing with trading and exporter of ammonia and fertilizers. According
information the merchandise good products like ammonia and urea is obtained
from P.T. PUPUK SRIWIDJAJA PALEMBANG, P.T. PUPUK ISKANDAR MUDA and P.T. PUPUK
KALIMANTAN TIMUR Tbk all companies dealing with ammonia and fertilizers
industry.
They explained that the ammonia and urea
were obtained through tenders of both the government-owned company.
Tenders fertilizers sales made by the state-owned enterprises. However,
the tender was held only twice in 1 year because the
government prioritizing the
procurement of fertilizers in the
country. Further Mrs. Dra. Lindawati, director and owner of the company explained
the whole products exported to Vietnam. They also obtained the fertilizer
demand from Thailand but the fertilizer product is very limited. We observe
that the operation of P.T. SH is classified a small sized company of its kinds
in the country which operation has been growing slowly in the last three years.
Generally outlook, the local demand for Urea, ZA, TSP, KCL fertilizer,
nitrogen phosphate kalium (NPK) fertilizer has kept on rising by 6% to 7% per
annum within the last five years having close connection with the rise in
agricultural industry using lots of fertilizer for increasing its production.
It is estimated that the demand growth will continue on rising within the next
five years. In the meantime, we realized that market competition in the above
business is very tough on account of large number of other similar companies
operating in the country. In the meantime, there are three existing companies
dealing with NPK fertilizer manufacturing in Indonesia respectively P.T.
PETROKIMIA GRESIK with PONSKA brand, P.T. KERTOPATEN KENCANA with TAWON brand,
P.T. SARIBUMI DEWATA LESTARI with SUBURIN brand and P.T. PUPUK SUBUR MAKMUR
with PUSMA NPK Plus TE brand. Beside the above three brand NPK fertilizer
circulated in Indonesia imported ones.
Until this time P.T. SH has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. SH is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimated that total sales turnover of the
company in 2011 amounted to Rp. 5.7 billion rose to Rp. 6.2 billion in 2012
increased to Rp. 7.0 billion in 2013 and projected to go on rising by at least
5% in 2014. The operation in 2013 yielded an estimated net profit of at least
Rp. 420 million and the company has an estimated total networth of at least Rp.
1.0 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. SH is led by Mrs. Dra. Lindawati (54) a
businesswoman with experienced in trading and exporter of ammonia and urea
fertilizers. 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. SAKURA HANA is
sufficiently fairly good for business transaction. However, in view of the
unstable political in the country we recommend to treats prudently in extending
a loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.