|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T.
PETROKIMIA GRESIK (PERSERO) |
|
|
|
|
Registered Office : |
Jalan Jend. A. Yani
Gresik 61119 East
Java |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.07.1972 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject operates in the petrochemical industry and in investment holding |
|
|
|
|
No. of Employees |
3,270 |
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 – 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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
P.T. PETROKIMIA GRESIK (Persero)
Head Office & Factory
Jalan Jend. A. Yani
Gresik 61119
East Java
Indonesia
Phones -
(62-31) 3981811 (Hunting), 3982100, 3982200
Fax - (62-31) 3981722, 3981574
E-mail - pkg@petrokimia-gresik.com
Website - http://www.petrokimia-gresik.com
Land Area - 50,000 sq.
meters
Building Area - 37,000 sq.
meters
Region - Industrial Zone
Status - Owned
Branch Office
Jalan Tanah Abang III No. 16
Jakarta Pusat, 10160
Indonesia
Phones -
(62-21) 3446459, 3446645
Fax - (62-21) 3841994
E-mail - perjaka@petrokimia-gresik.com
Building Area - 2 storey
Office Space - 130 sq. meters
Region - Commercial
Status - Owned
Date of Incorporation :
a. 8 September
1971 as Perum PETROKIMIA GRESIK
b. 1 May 1975 as
P.T. PETROKIMIA GRESIK (Persero)
Legal Form :
P.T. (Perseroan Terbatas)
or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. AHU-73885.AH.01.02.TH.2008
Dated 15 October 2008
- No. AHU-03872.AH.01.02.TH.2012
Dated 24 January 2012
- No.
AHU-AH.01.10-44011
Dated 11 December 2012
Company Status
:
State Owned and
Domestic Investment (PMDN) Company
Permit by the
Government Department :
a. The Department of Finance
NPWP No. 01.000.032.1-051.000
b. The Capital Investment Coordinating Board
- No. 23/S/SP.01/V/75
Dated 19 May 1975
- No. 07/II/PMDN/1982
Dated 11 February 1982
- No. 64/II/PMDN/1982
Dated 26 October 1982
- No. 69/II/PMDN/1984
Dated 21 November 1984
- No. 75/II/PMDN/1991
Dated 9 April 1991
- No. 176/II/PMDN/1996
Dated 9 August 1996
- No. 456/III/PMDN/1996
Dated 9 October 1996
- No. 82/II/PMDN/1998
Dated 24 December 1998
- No. 15/II/PMDN/2002
Dated 10 May 2002
- No. 07/III/PMDN/2003
Dated 14 January 2003
- No. 36/II/PMDN/2006
Dated 17 May 2006
c. The Department of Industry
- No. 356/T/INDUSTRI/1990
Dated 27 December 1990
- No. 525/T/INDUSTRI/1998
Dated 22 October 1998
Related
Companies :
a. A Member
Company of the PETROKIMIA GRESIK Group (see attachment)
b. A Member
Company of the PUSRI Group (see attachment)
Capital
Structure :
Authorized
Capital : Rp.
9,572,372,000,000.-
Issued Capital : Rp.
2,393,093,000,000.-
Paid up Capital : Rp.
2,393,093,000,000.-
Shareholders/Owners
:
a. P.T. PUPUK INDONESIA (Persero) - Rp. 2,393,033,000,000.-
Address :
Jl. Mayor Zen
Palembang,
South Sumatera
Indonesia
b. Yayasan
PETROKIMIA GRESIK -
Rp. 60,000,000.-
Address : Jl. Jend. A. Yani
Gresik, East
Java
Indonesia
Lines of
Business :
a. Petrochemical
Industry
b. Investment
Holding
Production
Capacity :
a. Fertilizers
- Urea - 460,000 tons p.a.
- Phosphate - 1,000,000 tons p.a.
- ZA -
1,950,000 tons p.a.
b. NPK Fertilizers
- Phonska & NPK - 4,280,000 tons p.a.
c. ZK Fertilizer (K2SO4) - 10,000
tons p.a.
d. Petroganik Fertilizers - 10,000
tons p.a.
e. Non Fertilizers
- Ammonia - 445,000 tons p.a.
- Sulfuric Acid -
550,000 tons p.a.
- Phosphate Acid -
200,000 tons p.a.
- Cement Retarder -
440,000 tons p.a.
- Aluminium Fluoride - 12,600 tons p.a.
Total
Investment :
a. Equity Capital - Rp. 396.4 billion
b. Reinvested
Profit - Rp. 152.5 billion
c. Loan
Capital -
Rp. 787.2 billion
d. Total
Investment - Rp.
1,336.1 billion
Started
Operation :
10 July 1972
Brand Name :
Petrogres
Technical
Assistance :
None
Number of Employee
:
3,270 persons
Marketing Area
:
Local - 95%
Export - 5%
Main Customers
:
a. Cooperatives
(KUD)
b. P.T. PERUSAHAAN PERDAGANGAN INDONESIA (Persero)
c. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. PUPUK
KUJANG
b. P.T. PUPUK ISKANDAR MUDA
c. P.T. PUPUK KALTIM Tbk
d. P.T. PUPUK SRIWIJAYA PALEMBANG (Persero)
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
RAKYAT INDONESIA Tbk
Jalan Jend. Sudirman No. 79
Gresik, East Java
Indonesia
b. P.T. Bank MANDIRI Tbk
Jalan Jembatan Merah No. 25-27
Surabaya, East Java
Indonesia
Auditor :
RSM AAJ
Associates
Litigation :
No litigation
record in our database
Annual Sales :
2011 – Rp. 16,195.2
billion
2012 – Rp.
21,694.2 billion
2013 – Rp.
24,548.7 billion
Net Profit :
2011 – Rp.
1,084.4 billion
2012 – Rp.
1,389.1 billion
2013 – Rp.
1,735.4 billion
Total Assets :
2011 – Rp.
11,324.8 billion
2009 – Rp.
19,251.0 billion
2013 – Rp. 21.790.3
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Ir. Hidayat Nyakman, MSIE, M.A.
Directors -
a. Mr. Ir. S. Nugroho Christijanto, M.M.
b. Mr. Drs. Tarcius Nugroho Purwanto, Ak.
c. Mr. Ir. Firdaus Syahril
d. Mr. Irwansyah, SE
Board of Commissioners :
President Commissioner -
Mr. Dr. Ir. Sumarjo Gatot Irianto, M.S.., DAA
Commissioners -
a. Mr. Drs. Julian Aldrin Pasha, M.A. Ph.D.
b. Mr. Drs. Boediarso Teguh, Widodo, M.E.
c. Mr. Ir. Nugraha Budi Eka Irianto
d. Mr. Ir. Fadjar Judisiawan, ST. M.M.
e. Mr. Rumolo Robert Simbolon, S.Sos., M.M.
Signatories :
President Director (Mr.
Ir. Hidayat Nyakman) or one of the Directors (Mr. Ir. S. Nugroho Christijanto,
M.M., Mr. Drs. Tarcisius Nugroho Purwanto, Mr. Ir. Firdaus Syahril or Mr.
Irwansyah, SE) 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. PETROKIMIA GRESIK (P.T. PG) was established in September 1971 with
the legal status of PERUM (Public Company) under the authority of the
Directorate General of Primary Chemical Industries, Department of Industry. In
May 1975 the company's legal status was converted to P.T (Perseroan Terbatas or
Limited Liability Company) with an authorized capital at that time of Rp.
100,000,000,000 of which Rp. 20,000,000,000 was issued and paid up. In 1985 the
authorized capital was increased to Rp. 450,000,000,000 with the issued and
paid up capital amounting to Rp. 50,000,000,000. In 1991 the issued and paid up
capital was raised to Rp. 201,895,524,000. In August 1997 the authorized
capital was increased to Rp. 1,300,000,000,000 issued and paid up capital of
Rp. 396,420,000,000. Concurrently, the whole shares of the company are controlled
by P.T. PUPUK SRIWIDJAJA (P.T. PUSRI) and Yayasan PETROKIMIA GRESIK. The deed
of amendment was approved by the Ministry of Law and Human Right in its
Decision Letter No. AHU-73885.AH.01.02.TH.2008, dated October 15, 2008. Later
according to the latest revision of notary documents of Mr. Lumassia, SH., No.
16 dated 21 July 2011 the company authorized capital was increased to Rp.
9,572,372,000,000 issued capital to Rp. 2,393,093,000,000 entirely paid up.
With this development the composition of its shareholders has been changed to
become P.T. PUPUK INDONESIA (ex PUPUK SRIWIDJAJA) (99.99%) and Yayasan
PETROKIMIA GRESIK (0.01%). The latest revision of notary documents was approved
by the Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-44011
dated December 11, 2012.
P.T. PG is the parent company of the PETROKIMIA GRESIK Group, a sub
group of the PUPUK INDONESIA Group members. The group's main activities are in
the petrochemical industry, pesticide formulation, in the production of active
pesticides/sodium tripoly phosphate and carbofuran, in phosphate acid
purification, in dioctyl phthalate and phthalic anhydride manufacturing and in
steel fabricating. Meanwhile, P.T. PUPUK INDONESIA as P.T. PG's holding company
is now also control 99.99% shares of P.T. PUPUK SRIWIDJAJA PALEMBANG; 99.99
shares of P.T. PUPUK KUJANG (in Cikampek, West Java); 99.99% shares of P.T.
PUPUK KALIMANTAN TIMUR (Bontang, East Kalimantan); 100% shares of P.T. PUPUK
ISKANDAR MUDA (Lhokseumawe, Aceh), all urea fertilizer producing companies; 90%
shares of P.T. REKAYASA INDUSTRI and 100% shares of P.T. MEGA ELTRA.
P.T. PG operates in the petrochemical industry and in investment
holding. The company manages a plant located on Jalan Jend. A. Yani, Gresik
(East Java), which has been in commercial operation since 10 July 1972. The
plant has been expanded several times, and now operates one line of ammonia and
urea fertilizer production machines, 2 lines of TSP/SP-36 producing machines
and 3 lines of machines producing Amonium Sulphate fertilizer & other
petrochemical products.
The company now has a production capacity ZA, Ammonia, Sulfuric Acid,
TSP/SP – 36, DAP, Phonska, NPK Fertilizer, Phosphoric Acid (54% P2 05), Cement Retarder
Fluoride, CO2, Urea Fertilizer, Nitrogen Liquid, Oxygen Liquid, Dry Ice, Kalium
Sulfat (K2SO4), HCL, and Calcium Chloride (CaC12). Development of the plant is
figured to have used up an investment of some Rp. 1,336.1 billion, with Rp.
396.4 billion having come from company capital, reinvested profit of Rp. 152.5
billion and the balance from loans.
Production of urea fertilizer is to support the supply for East Java due
to lack of supply from its parent company P.T. PUPUK SRIWIDJAJA. Some 95% of the
products are marketed locally and the rest is exported. The export is not
continually, but it depends on buyer demand abroad. It exported TSP/PS-3
fertilizer to Bangladesh of some 10,000 tons per shipment with the average 5-10
shipments per year. It used to export Urea fertilizer to Bangladesh, Vietnam,
Japan, Australia and Malaysia, but not running continually. The company has
also exported some 43% or about 3,000 tons aluminum fluorides to Ukraine, India
and Europe and it is now planning to increase its export volume including
sulfuric acids. While cement retarder, phosporic acids, DAP, liquid CO2 and dry
ice are for owned needs. In October 2000 P.T. PG operated its expansion plant
to produce NPK fertilizer by operating one line machine made in Spain of
INCRONE Brand. NPK fertilizers are marketed locally with brand Phonska.
P.T. Petrokimia Gresik is the most complete fertilizer plants in
Indonesia, which was originally named Project Petrochemicals Surabaya. P.T. PG
produces urea, ZA, SP-36, Phonska, DAP, NPK, ZK and other chemical industries.
In 2006 had a production capacity of 445 000 tons of ammonia per year, 460 000
tons of urea, 650,000 tons of ZA, 300,000 tons of Phonska, 1,000,000 tons of
SP-36, 225,000 tons of DAP, 160,000 tons of NPK "Kebomas" and 10,000
tons of ZK.
In the investment holding business, P.T. PG owns: 99.99% of the shares
of P.T. PETROSIDA GRESIK operating in the active pesticide industry; 60% of the
shares of P.T. PETROKIMIA KAYAKU, operating in the pesticide formulation
industry; 20% of the shares of P.T. PERTONIKA operating in the dioctyl
phthalate or DOPP industry; 1.47% of the shares of P.T. PETROWIDADA operating
in the phthalic anhydride industry; 9.80% of the shares of P.T. PETROCENTRAL
operating in the sodium tripoly phosphate industry; 5.13% of the shares of P.T.
PUSPETINDO operating in steel fabricating; 35.0% of the shares of P.T. KAWASAN
INDUSTRI GRESIK.
Since November 2006, the plant of P.T. PG had been ceased because it
gained no gas supply from EMP Kangean as the impact of the explosion of
transmission gas pipe of P.T. PERTAMINA in Porong on 22 November 2006. However,
the company has normally been in operation since May 2007 after the gas pipe
installation of 400 meters in gas swap program from P.T. PLN to P.T. PG of 27
MMSSCFD. We observe the operation of P.T. PG has been growing and developing
well in the last three years.
National economic conditions in 2011 are very encouraging. In 2011 the
national economy grew 6.5 percent. The high national economic growth is driven
by the excellent achievement of supporting sources of economic growth, they
are; investment, household consumption, and exports. However, the conditions
prevailing at the global level both the U.S. crisis and the European debt
crisis does not give huge impact to the national economy. In 2011 the inflation
rate are successfully reduced to only 5.4 percent. The low inflation due to the
success of the government and Bank Indonesia to control prices of food and
goods that falls into group of core inflation.
In addition, the government and Bank Indonesia are also managed to keep
the exchange rate of rupiah against the U.S. dollar in the range of Rp. 9,000
The excellent condition of Indonesian economy in 2011 has been a positive
motivating factor that enables the company to achieve good performance in 2011.
In 2011, PT Pupuk Sriwidjaja (Persero) managed to record sales growth, profits,
and assets. This condition can not be separated from Indonesia’s favorable
economic conditions in 2011. In 2012, Indonesia's economy will still be growing
despite the threats that need awareness. The continuing global economic
slowdown as a result of the crisis in Europe is one of the factors that will
greatly affect the economy of Indonesia. Another factor is the threat of global
rising oil prices that are driven by the prolonged tension in the Middle East.
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 are imported ones.
Several Producers of Compound Fertilizer NPK and their capacity
|
Name of Company |
Production (Ton/Year) |
Started Operation |
Type |
Brand |
|
P.T. AGRO SUBUR BUMI LESTARI P.T. INDOAGRO MAKMUR JAYA P.T. KERTOPATEN KENCANA P.T. PASIRMAUNG FERTILIZER P.T. PETROKIMIA GRESIK P.T. PUPUK KALTIM P.T. POLOWIJO GOSARI P.T. SARASWANTI ANUGERAH MAKMUR P.T. SARIBUMI DEWATA LESTARI P.T. SENTANA ADIDAYA PRATAMA |
5,000 5,000 51,000 5,000 300,000 100,000 12,000 10,000 12,000 120,000 |
1999 1999 1997 1998 2000 2003 1999 1998 1995 April 2004 |
Tablet Tablet Granule Tablet Granule Granule Tablet Tablet Tablet Granule |
PML-Agro PML-Diamond Tawon PMLT-PMF Phonska Pelangi PLLT-Pullet PMLT-Planta PMLT-Suburin SENTANA |
According to financial
statement P.T. PG which audited by RSJ AAJ Associates as per 31 December 2011
amounted at Rp. 16,195.2 billion with a net profit of Rp. 1,084.4 increased to
Rp. 21,694.2 billion with a net profit of Rp. 1,389.1 billion in 2012 to Rp.
24,548.7 billion with a net profit of Rp. 1,735.4 billion in 2013 and projected
to go on rising by at least 6% in 2014. 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 financial statement
of the company as per 31 December 2011, 2012 and 2013 is attached below.
P.T. PG’s
management is led by Mr. Ir. Hidayat Nyakman (61), a professional with 27 years
experience in fertilizer industry. Complete his Master of Science from School
of Engineering University of New Heaven USA in 1990. Completed his Master of
Science from in Industrial Engineering from the University of Pittsburg USA in
1992, and completed his Master of Arts from Department of Economic. Starting
his career as Division Head of Capital Investment Plan, the Planning Bureau of
the Industrial Department in 1981 to 1988.
The management
is handled by experienced professional managers in the above business having
wide relation with home and overseas private businessmen as well as with
government sectors. So far, we did not hear that the company’s management
involved in a dirty business practice 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. PETROKIMIA GRESIK is
sufficiently fairly good for business transaction.
P.T. PETROKIMIA GRESIK (Persero)
FINANCIAL
STATEMENTS
Per 31 December
2011, 2012 and 2013
(In
Million Rupiah)
|
Descriptions |
31 December |
|||
|
2013 |
2012 |
2011 |
||
|
A. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Banks |
1.838.495 |
1.556.724 |
1.039.595 |
|
|
- Trade Receivables |
|
|
|
|
|
* Related Parties |
271.633 |
377.233 |
175.386 |
|
|
* Third Parties |
1.266.317 |
1.055.570 |
759.012 |
|
|
- Subsidy Receivables |
9.144.009 |
5.391.717 |
2.180.764 |
|
|
- Other Current Financial
Asset |
|
|
|
|
|
* Related Parties |
11.214 |
15.430 |
16.894 |
|
|
* Third Parties |
15.930 |
8.274 |
12.649 |
|
|
- Inventories |
3.813.420 |
5.100.026 |
3.331.017 |
|
|
- Advances |
698.781 |
1.049.202 |
1.053.298 |
|
|
- Prepaid Expenses |
133.595 |
219.802 |
20.191 |
|
|
- Prepaid Taxes |
518.221 |
1.478.402 |
322.375 |
|
|
Total Current Assets |
17.711.614 |
16.252.381 |
8.911.182 |
|
|
b. Non Current Assets |
|
|
|
|
|
- Investment in
Associates Entities |
549.680 |
355.270 |
153.266 |
|
|
- Other Non Current
Financial Assets |
8.431 |
12.431 |
14.285 |
|
|
- Deferred Tax Assets |
141.248 |
134.400 |
97.971 |
|
|
- Fixed Assets |
3.205.775 |
2.373.293 |
2.069.605 |
|
|
- Investment Properties |
14.336 |
3.524 |
3.051 |
|
|
- Other Non Current
Assets |
159.266 |
119.754 |
75.494 |
|
|
Total Non Current Assets |
4.078.737 |
2.998.672 |
2.413.673 |
|
|
TOTAL ASSETS |
21.790.351 |
19.251.053 |
11.324.855 |
|
|
B. Liabilities &
Stockholder’s Equity |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Bank Loans |
4.553.434 |
2.768.983 |
2.062.037 |
|
|
- Trade Payables |
|
|
|
|
|
* Related parties |
264.055 |
151.072 |
136.829 |
|
|
* Third parties |
668.370 |
502.998 |
323.884 |
|
|
- Tax Payables |
183.543 |
93.448 |
67.790 |
|
|
- Accrued Expenses |
533.326 |
424.848 |
277.047 |
|
|
- Other Current Financial
Liabilities |
8.726 |
7,580 |
9.019 |
|
|
- Sales Advances |
15.924 |
21.335 |
25.148 |
|
|
- Long Term Liabilities |
|
|
|
|
|
* Bank Loans |
130.270 |
141.289 |
139.289 |
|
|
* Other Liabilities |
4.362 |
4.612 |
3.501 |
|
|
Total Short Term
Liabilities |
6.362.011 |
4.116.165 |
3.044.545 |
|
|
b. Non Current
Liabilities |
|
|
|
|
|
- Bank Loans |
9.004.750 |
9.837.000 |
3.739.607 |
|
|
- Other Liabilities |
6.769 |
9.542 |
12.887 |
|
|
- Post Employee Benefit
Liabilities |
102.374 |
116.862 |
63.318 |
|
|
- Total Long Term
Liabilities |
9.113.894 |
9.963.405 |
3.815.812 |
|
|
Total Liabilities |
15.475.904 |
14.079.571 |
6.860.357 |
|
|
c. Stockholder’s Equity |
|
|
|
|
|
- Paid up capital |
2.393.093 |
2.393.093 |
396.420 |
|
|
- Additional paid-in
capital |
- |
- |
1.996.673 |
|
|
- Retained earnings |
|
|
|
|
|
* Appropriated |
2.140.589 |
1.358.860 |
961.483 |
|
|
* Unappropriated |
1.697.037 |
1.371.455 |
1.074.570 |
|
|
- Other Comprehensive
Income |
64.486 |
9.905 |
- |
|
|
- Equity Attribute to Parent Entity |
6.295.206 |
5.133.313 |
4.429.146 |
|
|
Total equity |
6.314.447 |
5.171.482 |
4.464.498 |
|
|
C. INCOME STATEMENTS |
|
|
|
|
|
a. Net Sales |
24.548.696 |
21.694.258 |
16.195.196 |
|
|
b. Cost of Goods Sold |
(18.736.726) |
(17.202.941) |
(12.982.514) |
|
|
c. Gross Profit |
5.811.969 |
4.491.316 |
3.212.682 |
|
|
d.
Operating Profit |
3.805.602 |
2.450.407 |
1.724.889 |
|
|
e. Financial Charges |
(1.566.862) |
(711.988) |
(313.112) |
|
|
f. Income Before Tax |
2.261.916 |
1.815.056 |
1.084.411 |
|
|
g. Tax Expenses |
(581.100) |
(435.864) |
(357.407) |
|
|
h. Other Comprehensive
Income |
54.581 |
9.905 |
- |
|
|
i. Total
Comprehensive Income |
1.735.397 |
1.389.096 |
1.084.411 |
|
Notes: 31 December 2011, 2012 and 2013 audited by
Aryanto, Amir Jusuf, Mawar & Saptoto
List of the PETROKIMIA GRESIK Group
Members
1.
BUMI HIJAU LESTARI II, P.T. (Agribusiness)
2.
KAWASAN INDUSTRI GRESIK, P.T. (Industrial Estate Development
and Management)
3.
PADI ENERGI NUSANTARA, P.T. (Rice Estate Development and
Management)
4.
PETRINDO HITACHI ZOSEN, P.T. (Steel Fabricating)
5.
PETRO CENTRAL, P.T. (Sodium Tripoly Phosphate Processing)
6.
PETROFURYL, P.T. (Carbofuran Processing)
7.
PETRO JORDAN ABADI, P.T. (Phosphoric Acid Processing)
8.
PETROKIMIA GRESIK (Persero), P.T. (Petrochemical Industry
and Investment Holding)
9.
PETROKIMIA KAYAKU, P.T. (Pesticides Formulation)
10.
PETROKUJANG PUTERA, P.T. (Phosphate Acid Purification)
11.
PETRONIKA, P.T. (Dicotyl Phtalate Industry or DOP
Processing)
12. PETROSIDA, P.T. (Active Pesticides Processing)
13.
PETROWIDADA, P.T. (Phthalic Anhydride Processing)
14.
PUSPETINDO, P.T. (Steel Fabricating)
15.
Etc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.