|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PUPUK |
|
|
|
|
Registered Office : |
Jalan James
Sumandjuntak No. 1 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.12.1977 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacturing of urea fertilizer and ammonia |
|
|
|
|
No. of Employees |
2,790 |
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. PUPUK KALIMANTAN TIMUR
Head Office & Factory
Jalan James
Sumandjuntak No. 1
Bontang Utara,
75313
East Kalimantan
Indonesia
Phones -
(62-548) 41202, 41203
Fax - (62-548) 41616, 41626
E-mail - corsec@pupukkaltim.com
Website - http://www.pupukkaltim.com
http://www.pupukkaltim.com/eng
Land Area - 350,000 sq.
meters
Office Space - 300,000 sq.
meters
Region - Industrial
Zone
Status - Owned
Branch
Plaza Pupuk
Kaltim
Jalan Kebon Sirih No. 6A
Jakarta Pusat, 10110
Indonesia
Phones -
(62-21) 344 3344 (Hunting)
Fax - (62-21) 344 3444
Building Area - 5 storey
Office Space - 400 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
7 December 1977
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No. Y.A.5/5/11
Dated 16 January 1979
- No. AHU-AH.01.10-0779
Dated 9 January 2008
- No. AHU-80094.AH.01.02.TH.2008
Dated 31 October 2008
- No.
AHU-44499.AH.01.02.TH.2011
Dated 12 September 2011
- No.
AHU-AH.01.10-07904
Dated 6 March 2013
Company Status
:
National Private
and Domestic Investment (PMDN) Company
Permit by the
Government Department :
The Department of Finance
NPWP No.
01.000.072.7-724.001
The Capital Investment Coordinating Board
- No. 114/I/PMDN/1980
Dated 16 July 1980
- No. 25/II/PMDN/1986
Dated 18 April 1986
- No. 291/II/PMDN/1995
Dated 27 November 1995
- No. 172/III/PMDN/1996
Dated 29 April 1996
- No. 239/II/PMDN/1997
Dated 7 November 1997
- No. 346/III/PMDN/1998
Dated 19 October 1998
The Department of Industry
- No. 90/T/Industri/1988
Dated 8 April 1988
- No. 256/T/Industri/1992
Dated 10 September 1992
The Capital Market Supervisory Agency
- No. S-16235/BL/2009
Dated 24 November 2009
- No. S-06324/BEI.PPS/12-2009
Dated 3 December 2009
Related
Company :
A Member Company
of the PUSRI Group (see attachment)
Capital
Structure :
Authorized
Capital : Rp.
13,657,791,676,000.-
Issued Capital : Rp. 3,414,447,919,000.-
Paid up Capital : Rp. 3,414,447,919,000.-
Shareholders/Owners
:
a. P.T. PUPUK INDONESIA (Persero) - Rp.
3,414,411,449,000.-
Address :
Jl. Taman Aggrek
Kemanggisan
Jaya, Palmerah
Jakarta Barat
Indonesia
b. Yayasan
Kesejahteraan Hari Tua P.T. PUPUK
KALIMANTAN TIMUR -
Rp. 36,470,000.-
Address : Jl. S. Parman No. 5
Bontang, East
Kalimantan
Indonesia
Lines of
Business :
a. Urea Fertilizer Processing
b. Investment Holding
Production
Capacity :
a. Urea Fertilizer -
2,410,000 tons p.a.
b. Ammonia - 1,850,000 tons p.a.
c. Plastic Bags - 4,800,000 pieces p.a.
d. NPK (Nitrogen Phosphate
Kalium) - 570,000 tons p.a.
e. CO2 -
74,400,000 cum p.a.
Total
Investment :
a. Equity Capital - Rp. 1,665.0 billion
b. Reinvested Profit - Rp.
153.7 billion
c. Loan Capital - Rp. 1,171.0 billion
d. Total Investment - Rp. 2.989.7 billion
Started
Operation :
1984
Brand Name :
Pupuk Kaltim
Technical
Assistance :
None
Number of
Employee :
2,790 persons
Marketing Area
:
Local - 100%
Main Customer
:
Distributors
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. ASEAN
ACEH FERTILIZERS
b. P.T. PUPUK ISKANDAR MUDA Tbk
c. P.T. PUPUK KUJANG
d. P.T. SENTANA ADIJAYA PRATAMA
e. Etc.
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank
MANDIRI Tbk
Plaza
Mandiri
Jalan Jend.
Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
b. P.T. Bank RAKYAT INDONESIA Tbk
Plaza BRI
Jalan Jend.
Sudirman No. 44-46
Jakarta Pusat
Indonesia
c. P.T. Bank CENTRAL ASIA Tbk
Menara BCA
Jalan M.H.
Thamrin No. 1
Jakarta Pusat
Indonesia
d. P.T. Bank INTERNATIONAL INDONESIA Tbk
Plaza BII
Jalan M.H.
Thamrin No. 50
Jakarta Pusat
Indonesia
Auditor :
RSM AAJ Associates
Litigation :
No litigation
record in our database
Annual Sales :
2011 – Rp.
10,371.3 billion
2012 – Rp.
13,452.1 billion
2013 – Rp.
13,825.7 billion
Net Profit :
2011 – Rp.
1,449.1 billion
2012 – Rp.
1,984.0 billion
2013 – Rp.
1,050.2 billion
Total Assets :
2011 – Rp.
10,633.7 billion
2012 – Rp.
12,166.9 billion
2013 – Rp.
18,091.9 billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Aas Asikin Idat
Directors -
a. Mr. Mulyono Prawiro
b. Mr. Ir. Achmad Bakir Pasaman
c. Mr. Suldja Hartono
d. Mr. Jusri Minansyah
Board of Commissioners :
President Commissioner -
Mr. Alex SW Retraubun
Commissioners -
a. Mr. Mashudianto
b. Mr. D. Agus Purnomo
c. Mr. Panggah Susanto
d. Mr. Hari Priyono
e. Mr. Yurnalis ngayoh
Signatories :
President Director (Mr.
Aas Asikin Idat) or one of the Directors (Mr. Mr. Mulyono Prawiro, Mr. Ir.
Achmad Bakir Pasaman, Mr. Suldja Hartono or Mr. Jusri Minansyah) 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. PUPUK
KALIMANTAN TIMUR (P.T. PKT) was incorporated in Bontang, East Kalimantan based
on notary deed of Mr. Januar Hamid, SH., No. 15 dated 7 December 1977 with an
authorized capital of Rp. 120,000,000,000 issued capital of Rp. 60,000,000,000
fully paid up. The whole of its shares are controlled by the government of the
Republic of Indonesia through the Department of Industry. In early 1994 the
government decided P.T. PUPUK SRIWIDJAJA (state owned fertilizer industry) as
holding company of 4 state-owned fertilizer companies including P.T. PUPUK
KALIMANTAN TIMUR. So that since June 1994 P.T. PUPUK SRIWIDJAJA took over the
government shares in P.T. PUPUK KALIMANTAN TIMUR. In March 1998 Yayasan
Tabungan Hari Tua Karyawan P.T. PUPUK KALTIM (the foundation established by
employees of P.T. PUPUK KALTIM for old age saving) joined as new shareholder.
According to the revision of notarial act in the end of June 2000, the
authorized capital was increased to Rp. 6,660,000,000,000 issued and paid up
capital to Rp. 1,665,000,000,000. In mid September 2008, the government through
the State Minister of State Owned Company (BUMN) instructed the establishment
of holding company controlling state owned fertilizer companies including P.T.
PUPUK KALTIM. The latest according to the latest revision of notary deed Mrs.
Lumassia, SH., no. 05 dated 18 February 2013 the company authorized capital was
increased to Rp. 13,657,791,676,000 issued capital to Rp. 3,414,447,919,000
entirely paid up. On the same occasion the whole shares had been controlled by
P.T. PUPUK INDONESIA (Persero) (99.999%) and Yayasan Kesejahteraan Hari Tua
Pupuk Kaltim (0.001%). The deed of amendments was approved by the Ministry of
Law and Human Rights in its decision letter No. AHU-AH.01.10-07904 dated March
6, 2013.
P.T. PKT is
engaged in the manufacturing of urea fertilizer and ammonia. It operates a
plant located in North Bontang, East Kalimantan. Currently, the Company has
four main activities, which are to produce urea fertilizer, ammonia and its by
product, and also utilities. The Company has four ammonia and urea plants,
namely, the Kaltim-1, Kaltim-2, Kaltim-3, and Kaltim-4 and one urea plant, unit
four or the Pupuk Kaltim Optimization Plant (POPKA). The first unit has been
operating since April 1984, the second in September 1984 and the third in March
1989. The three units have 4 urea manufacturing plants and 3 ammonia
manufacturing plants. In 2000 P.T. PUPUK KALTIM started to build unit IV namely
urea and ammonia manufacturing plants. The development of unit IV will be
carried out in two stages. The first stage of unit IV is urea plant operating
commercially since July 03, 2002 while the second stage development of IV unit
is for ammonia which operated since early 2003. The development of IV unit
absorbed an investment of Rp. 1,127.5 billion originating from company capital
of Rp. 370.7 billion and the balance is loan from Japan Bank for International
Corporation (JBIC). In mid-2003, two plants of P.T. PKT namely P.T. PUPUK
KALTIM 1 and P.T. PUPUK KALTIM 4 used to stop operation due to lack of gas
supply but since October 2003 the plants have been in operation again. Some 65%
of P.T. PUPUK KALTIM products is
marketed domestically of which its distribution is handled by P.T. PUPUK
SRIWIDJAJA and the rest 35% is exported to Malaysia, Brunei, Vietnam,
Bangladesh and other countries.
P.T. PKT also
operates fertilizer and ammonia seaport, which is located in Bontang, East
Kalimantan. The Company started its commercial operations on May 1, 1985 and
its products are marketed both domestically and internationally. In connection
with its environmental conservation, the Company has already achieved ISO 14001
certification. Beside the above activities, P.T. PUPUK KALTIM is also as an
investment holding of some other companies. It controls 99.99% shares of P.T.
KALTIM INDUSTRIAL ESTATE engaged in industrial estate management around P.T.
PUPUK KALTIM plant; 80.75% shares of P.T. KALTIM DAYA MANDIRI in electric power
management for industrial estate owned by P.T. KALTIM INDUSTRIAL ESTATE. P.T.
PUPUK KALTIM controls 20% shares of P.T. DSM KALTIM MELAMINE in melamine
processing industry; 20% shares of P.T. KALTIM SAHID BARITO SODAKIMIA in
caustic soda and ammonia chloride industry; 30% shares of P.T. KALTIM PARNA
INDUSTRY in ammonia processing industry and 5% shares of P.T. REKAYASA INDUSTRY
in engineering and construction services.
Besides P.T. PKT
also control 19% shares of the companies dealing with production and marketing
of NPK fertilizers including P.T. PUKATI PELANGI AGROMAKMUR, P.T. PUKATI
PELANGI PATANI BERSERI, P.T. PUKATI PELANGI KHATULISTIWA, P.T. PUKATI PELANGI
TANI MUKTI and P.T. PUKATI PELANGI BALI BERSEMI. P.T. PKT together with its
subsidiaries has succeeded in producing 350,000 tons of NPK annually. Mr. Ir.
Nugraha Budi Eka Irianto, the director of P.T. PKT, said that his company would
expand its business with an investment of US$ 24.0 million. The plant is
expected to have been in operation by end 2007 producing 400,000 tons of NPK
per annum.
P.T. PUPUK KALTIM Plant Services
Provider
Plant Service
Provider division provides various services to support plant operational
activities, which include:
- Production of
valve steel in various type and size
- Production of
mechanical seal
- Production of
Heat Exchanger, Pressure Vessel and Steel Structure
- Production of
Casting components such as Impeller, casing and so forth
-
Designing/production of spare part and plant equipment
- Mechanical
test, metallurgy and metrology
- Implementation
of Turn Around and Plant Preventive Maintenance
- Repairing
plant shut down/break down
- Trouble
shooting upon any plant problem
- Spare part
supplies
- Laboratory
test and analysis
- Technical
inspection for static equipment and rotating equipment
- Maintenance
service outside Pupuk Kaltim (JVC, Project and so forth)
Human resources
expertise owned by JPP division, are:
- Metallurgy
expert
- Rotating
Specialist
- Pattern making
upon metal casting
- CAD/CAM
Engineer
- Welder TIG,SMAW
- Operator CNC
Machine, CMM
Manufactured
products are:
- 4,320 tons
Casting Products
- 3,600 sets
valves
- 960 sets
mechanical seals
Fabrication
- 2,400 tons steel structures
- 15 units vessels/He
- 1,200 Ea Spare
parts
- 1,730 times
laboratory services
Generally
outlook, the local demand for 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 is 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 the
financial statement of the company having been audited by public accountant,
sales turnover of P.T. PKT in 2011 amounted to Rp. 10,371.3 billion with a net
profit of Rp. 1,449.1 billion increased to Rp. 13,452.1 billion with a net
profit of Rp. 1,984.0 billion in 2012 to Rp. 13,825.7 billion with a net profit
of Rp. 1,050.2 billion in 2013 and projected to go on rising by at least 6% in
2014. Based on information obtained from some customers, the payment habit of
the company is smooth ranging from 1 to 3 months. So far, we did not heard that the company having been black
listed by the Central Bank (Bank Indonesia). The financial statement as per 31
December 2011, 2012 and 2013 is attached below.
The management
of P.T. PKT is led by Mr. Drs. Aas Asikin Idat, Ak, MM (58) a professional
manager with experience in fertilizer processing. Hold position as General
Director since 12 November 2010. Once hold position as General Director of P.T.
Pupuk Kujang (2004-2010).
He obtained Bachelor degree in Economy majoring in Accountant from Padjadjaran
University, Bandung in 1981 and Master degree in Management in 1997. 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. PUPUK KALIMANTAN
TIMUR is sufficiently fairly good for business transaction.
P.T. PUPUK KALIMANTAN TIMUR
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 Cash
Equivalents |
1.570.809 |
778.146 |
1.482.633 |
|
|
- Other Current Financial
Assets |
- |
44.000 |
- |
|
|
- Trade Receivables |
|
|
|
|
|
* Related Parties |
121.483 |
42.896 |
92.269 |
|
|
* Third Parties |
1.081.085 |
1.062.523 |
437.861 |
|
|
- Subsidy Receivables |
2.405.636 |
1.983.945 |
1.196.019 |
|
|
- Non Trade Receivables |
|
|
|
|
|
* Related Parties |
17.351 |
18.009 |
767 |
|
|
- Other Receivables |
171.389 |
80.212 |
65.185 |
|
|
- Inventories |
2.385.261 |
1.968.369 |
1.538.465 |
|
|
- Gross Amount Due from
Customers |
14.177 |
5.846 |
1.250 |
|
|
- Prepaid Taxes |
531.585 |
16.406 |
98 |
|
|
- Advances Payment |
211.172 |
366.475 |
411.063 |
|
|
- Prepaid Expenses |
169.450 |
32.940 |
38.118 |
|
|
- Other Current Assets |
22.675 |
16.008 |
53.117 |
|
|
Total Current Assets |
8.702.016 |
6.415.775 |
5.316.847 |
|
|
b. Non Current Assets |
|
|
|
|
|
- Investment in
Associates Entities |
88.964 |
94.161 |
126.208 |
|
|
- Other Non Current
Financial Assets |
25.336 |
36.738 |
38.278 |
|
|
- Investment Properties |
131.961 |
129.690 |
131.332 |
|
|
- Fixed Assets |
8.961.293 |
5.319.808 |
4.844.657 |
|
|
- Guarantee |
9.384 |
8.477 |
6.642 |
|
|
- Intangible Assets |
8.944 |
9.471 |
11.122 |
|
|
- Inventory Obsolescence |
109.985 |
95.108 |
97.687 |
|
|
- Other Non Current
Assets |
54.014 |
57.766 |
60.968 |
|
|
Total Non Current Assets |
9.389.882 |
5.751.219 |
5.316.894 |
|
|
TOTAL ASSETS |
18.091.898 |
12.166.994 |
10.633.741 |
|
|
B. Liabilities &
Stockholder’s Equity |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Short Term Loans |
2.610.930 |
68.991 |
35.050 |
|
|
- Trade Payables |
|
|
|
|
|
* Third parties |
497.445 |
293.355 |
419.234 |
|
|
* Related parties |
252.136 |
293.404 |
186.789 |
|
|
- Other Current Financial
Liabilities |
174.654 |
118.723 |
105.851 |
|
|
- Accrued Expenses |
1.244.481 |
927.143 |
776.104 |
|
|
- Tax Payables |
85.675 |
272.385 |
293.879 |
|
|
- Short Term Employee
Benefit Liabilities |
346.308 |
373.069 |
374.220 |
|
|
- Unearned Revenues |
19.874 |
17.348 |
14.589 |
|
|
- Bond Payable |
679.140 |
- |
- |
|
|
- Sukuk |
131.000 |
- |
- |
|
|
- Current Portion of Long
Term Liabilities |
- |
- |
98.351 |
|
|
- Bank Loans |
148.842 |
160.499 |
26.158 |
|
|
- Other Loans |
1.853 |
1.470 |
- |
|
|
Total Short Term
Liabilities |
6.192.339 |
2.526.386 |
2.330.136 |
|
|
b. Non Current Liabilities |
|
|
|
|
|
- Long Term Employee
Benefit |
356.015 |
305.158 |
227.496 |
|
|
- Deferred Tax
Liabilities – net |
96.587 |
152.074 |
194.932 |
|
|
- Long Term Loans – net |
|
|
|
|
|
* Bank Loans |
3.955.135 |
1.096.618 |
851.205 |
|
|
* Other Loans |
7.511 |
5.879 |
- |
|
|
- Bond Payable |
- |
660.000 |
697.620 |
|
|
- Sukuk |
- |
131.000 |
136.436 |
|
|
- Long Term Provision |
19.247 |
19.662 |
20.535 |
|
|
Total Liabilities |
4.434.396 |
2.370.391 |
2.128.225 |
|
|
c. Stockholder’s Equity |
|
|
|
|
|
- Paid up capital |
3.414.448 |
3.414.448 |
3.414.448 |
|
|
- Difference in
transaction |
5.061 |
5.061 |
5.061 |
|
|
- Retained earnings |
|
|
|
|
|
* Appropriated |
2.926.204 |
1.802.442 |
1.250.450 |
|
|
* Unappropriated |
1.029.606 |
1.971.511 |
1.438.278 |
|
|
- Total Equity
Attributable |
7.375.319 |
7.193.462 |
6.108.237 |
|
|
- Non Controlling
Interest |
89.845 |
76.754 |
6.108.237 |
|
|
Total equity |
7.465.163 |
7.270.217 |
6.175.381 |
|
|
C. INCOME STATEMENTS |
|
|
|
|
|
a. Net Sales |
13.825.714 |
13.453.118 |
10.371.291 |
|
|
b. Cost of Goods Sold |
(9.833.986) |
(8.634.536) |
(6.597.101) |
|
|
c. Gross Profit |
3.991.728 |
4.817.582 |
3.774.190 |
|
|
d.
Operating Profit |
1.574.082 |
2.722.772 |
2.080.181 |
|
|
e. Financial Charges |
(185.103) |
(94.568) |
(111.753) |
|
|
f. Income Before Tax |
1.383.781 |
2.625.337 |
1.959.968 |
|
|
g. Tax Expenses |
(333.616) |
(641.280) |
(510.874) |
|
|
hi.
Total Comprehensive Income |
1.050.165 |
1.984.057 |
1.449.094 |
|
Notes: 31 December 2011, 2012 and 2013 audited by
Aryanto, Amir Jusuf, Mawar & Saptoto
List of the P U S R
I Group Members
1.
ASEAN ACEH FERTILIZER, P.T. (Urea Fertilizer Industry)
2.
ASEAN BINTULU FERTILIZER, P.T. (Urea Fertilizer Industry)
3.
CAPRINDO PERDANA, P.T. (Caprolactam and Ammonium Sulphate
Industry)
4.
KELLOG SRIWIJAYA (KELSRI), P.T. (General Contracting)
5.
KONSERVASI ENERGY ABADI, P.T (Energy Saving Management and
Services, Particularly in Industry)
6.
PUPUK INDONESIA (Persero), P.T. (Holding Company/Investment
Holding)
7.
PUPUK ISKANDAR MUDA, P.T. (Urea Fertilizer Industry)
8.
PUPUK KALIMANTAN TIMUR, P.T. (Urea Fertilizer Industry and
Investment Holding)
9.
PUPUK KUJANG, P.T. (Urea Fertilizer Industry)
10.
PUPUK SRIWIDJAJA (PUSRI), P.T. (Holding Company/Investment
Holding)
11.
PUPUK SRIWIDJAJA PALEMBANG, P.T. (Fertilizer Industry)
12.
PUSPETINDO, P.T. (Industrial Chemical Manufacturing)
13.
REKAYASA INDUSTRI, P.T. (Planning, Design, Engineering and
Construction Company)
14.
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
: |
SUM |
|
|
|
|
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.