|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. ANCOL TERANG METAL PRINTING INDUSTRI |
|
|
|
|
Formerly Known As : |
P.T. FIRST NATIONAL METAL PRINTING |
|
|
|
|
Registered Office : |
Jalan Ancol IX, Ancol Barat No. 7, Kelurahan Ancol, Kecamatan Pademangan, Jakarta Utara, 14430 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
01.04.1978 |
|
|
|
|
Com. Reg. No.: |
No. AHU-04552.AH.01.02.TH.2013 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Metal Printing, Crown Cork and Can Making |
|
|
|
|
No. of Employees : |
1,300 |
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 |
|
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. ANCOL TERANG METAL PRINTING INDUSTRI
A d d r e s s :
Head Office & Factory
Jalan Ancol IX, Ancol Barat No. 7
Kelurahan Ancol, Kecamatan Pademangan
Jakarta Utara, 14430
Indonesia
Phones - (62-21) 6911711, 6900186,
6900191
Fax - (62-21) 6907569, 6907578
E-mail - atp@atpgroup.co.id
Website - http://www.atpgroup.co.id
Land Area - 15,000 sq.
meters
Office Space - 12,000 sq. meters
Region - Industrial
Zone
Status - Owned
Factory II & Warehouse
Jalan Kapuk Kamal Muara No. 602
Jakarta Barat, 14470
Indonesia
Phones - (62-21) 5551177, 5551255,
5551690
Fax - (62-21) 5551253
Land Area - 10,000 sq.
meters
Office Space - 7,800 sq. meters
Region - Industrial
Zone
Status - Owned
Date of
Incorporation :
a. 1 April 1978 as P.T.
FIRST NATIONAL METAL PRINTING
b. 12 February 1979 as P.T.
ANCOL TERANG METAL PRINTING INDUSTRI
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C2-26936.HT.01.04.TH.98
Dated 1 December 1998
- No.
AHU-25510.AH.01.02.TH.2009
Dated 11 June 2009
- No. AHU-04552.AH.01.02.TH.2013
Dated 6 February 2013
Company Status :
Foreign Investment (PMA) Company
Permit by the Government Department :
The Department of Finance
NPWP No. 01.300.112.8-046.000
Related Company :
A Member Company of the ABC Group (see attachment)
Capital Structure :
Authorized Capital : Rp.
56,000,000,000.-
Issued Capital : Rp.
56,000,000,000.-
Paid up Capital : Rp.
56,000,000,000.-
Shareholders/Owners :
a. PARAMOUT INVESTMENT HOLDINGS PTE., LTD . -
Rp. 27,850,000,000.-
Address : 61 Club Street
Singapore, 069436
b. BLOOM INVESTMENT HOLDINGS PTE., LTD. -
Rp. 27,850,000,000.-
Address : 61 Club Street
Singapore, 069436
c. P.T. SINARJAYA IMTERGRAHA -
Rp. 120,000,000.-
Address : Jl.
Ancol Barat IX No. 7
Kelurahan Ancol, Kecamatan
Pade
mangan, Jakarta Utara
Indonesia
d. P.T. ANEKACITRA SEMPURNA
MULIA -
Rp. 75,000,000.-
Address : : Jl. Ancol Barat IX No. 7
Kelurahan Ancol, Kecamatan
Pade
mangan, Jakarta Utara
Indonesia
e. P.T. DINAMIKA DAYAAGUNG PERTIWI -
Rp. 30,000,000.-
Address : Jl. Ancol Barat IX No. 7
Kelurahan Ancol, Kecamatan Pade
mangan, Jakarta Utara
Indonesia
f. P.T. PRIMAMITRA ANEKA
INVESTMENT -
Rp. 15,000,000.-
Address : Jl. Pangeran Jayakarta No. 46
Block E5
Kelurahan Mangga Dua
Selatan, Kecamatan
Sawah Besar, Jakarta Pusat
Indonesia
g. P.T. MEGA INDOPACIFIC SEJATI -
Rp. 15,000,000.-
Address : Panin Bank Plaza 4th Floor
Jl. Palmerah Utara No. 52
Kelurahan Palmerah,
Kecamatan Palmerah
Jakarta Barat, Indonesia
h. P.T. HARMONIJAYA MAKMUR -
Rp. 15,000,000.-
Address : Jl. Mandala Utara No. 597, RT.
004 RW. 015
Kelurahan Toman, Kecamatan Grogol
Petamburan, Jakarta Barat
Indonesia
i. Mr. Irwan Tanzil -
Rp. 15,000,000.-
Address : Jl. Raden Saleh Dalam/72, Lingkungan VIII
Kesawan, Medan, North Sumatra
Indonesia
j. Mr. Kustady -
Rp. 15,000,000.-
Address : Jl. Gree Ville G/10, RT. 002 RW. 009
Kelurahan Duri Kepa, Kecamatan Kebon Jeruk
Jakarta Barat
Indonesia
Lines of Business :
Metal Printing, Crown Cork and Can Making
Production Capacity :
a. Ancol Factory
- Cans - 20,000 tons p.a.
- Crown
Corks - 28,000 tons p.a.
- Tinplate
Printing - 25,200 tons p.a.
b. Kapuk Factory
- Cans - 14,800 tons p.a.
- Crown
Corks - 12,000 tons p.a.
- Tinplate
Printing - 23,200 tons p.a.
- Paint
Cans - 40,000 tons p.a.
Total Investment :
a. Equity Capital - Rp. 56.0 billion
b. Loan Capital - Rp. 41.1 billion
c. Total Investment- Rp.
97.1 billion
Started Operation :
June 1979
Brand Name :
Ancol Terang Metal Printing Industri
Technical Assistance :
None
Number of Employee :
1,300 persons
Marketing Area :
Local - 100%
Main Customers :
a. P.T. COCA COLA BOTTLING INDONESIA
b. P.T. PABRIK CAT & TINTA PACIFIC
c. P.T. SARA LEE INDONESIA
d. Etc
Market Situation :
Very Competitive
Main Competitors :
a. P.T. COMETA CAN
b. P.T. INCAP ALTIN UTAMA
c. P.T. PELANGI INDAH
CANINDO Tbk
d. P.T. POPULAR CAN UTAMA
e. P.T. SAMPOERNA PRINTPACK
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Jalan
Parang Tritis I
Ancol Barat
Block B 5/A
Jakarta
Utara
Indonesia
b. JP MORGAN CHASE Bank
Jalan
Jenderal Sudirman Kav. 21
Jakarta
Selatan
Indonesia
c. DEUTSCHE Bank AG
Jalan Imam
Bonjol No. 80
Jakarta
Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 688.0 billion
2012 – Rp. 732.0 billion
2013 – Rp. 745.0 billion
Net Profit (estimated) :
2011 – Rp. 41.3 billion
2012 – Rp. 43.9 billion
2013 – Rp. 48.4 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Hendro Luhur
Director - Mr. Hendri Luhur
Board of Commissioners :
President Commissioner - Mr. Kustady
Commissioner - Mr. Kusnadi Luhur
Signatories :
President Director (Mr. Hendro Luhur)
or the Director (Mr. Hendri Luhur) which must be approved by Board of
Commissioner
Management Capability :
Good
Business Morality :
Good
Originally named P.T. FIRST NATIONAL METAL PRINTING abbreviated into P.T.FINECO,
the company was established in 1978 with an authorized capital of Rp.
100,000,000 entirely issued and paid up. The founders and original shareholders
of the company are Mr. Husain Djojonegoro AKA Chu Kok Seng, Mr. Hendro Luhur,
Mr. Sumito, Mr. Anwar Luhur, Mr. Ansari Luhur, Mr. Arief Tanuwidjaja, Mr. Iwan
Tanzil, Mr. Josef Kandiawan, Mr. Kusnadi Luhur, Mr.Kustady, Mr. Kusuma Luhur
and Mr. Mansury Luhur all Indonesian businessmen of Chinese extraction, and are
still related to one another. In February 1979 it was renamed P.T. ANCOL TERANG
METAL PRINTING INDUSTRI abbreviated into P.T. ANCOL TERANG (P.T. ATP).
According to the revision of notary deed in January 1998 the authorized capital
was raised to Rp 300,000,000 entirely issued and paid up.
The latest according to the revision of notary deed Mrs. Aliya
Sriwendayani Azhar, SH., no. 75 dated 27 March 2013 the company authorized
capital was increased to Rp. 56,000,000,000 wholly issued and paid up. On the
same occasion PARAMOUNT INVESTMENT HOLDINGS PTE., LTD., and BLOOM INVESTMENT
HOLDINGS PTE., LTD., both are of Singapore entered into the company as new
shareholders. Concurrently the company status was changed into Foreign
Investment (PMA) company facility. With this time the composition of its shareholders
has been changed to become PARAMOUNT INVESTMENT HOLDINGS PTE., LTD., (49.73%),
BLOOM INVESTMENT HOLDINGS PTE., LTD., (49.73%), P.T. SINARJAYA INTERGRAHA
(0.21%), P.T. ANEKACITRA SEMPURNA MULIA (0.13%), P.T. DINAMIKA DAYAAGUNG
PERTIWI (0.05%), P.T. PRIMAMITRA ANEKA INVESTMENT (0.03%), P.T. MEGA
INDOPACIFIC SEJATI (0.03%), P.T. HARMONIJAYA MAKMUR (0.03%), Mr. Irwan Tanzil
(0.03%) and Mr. Kustady (0.03%). The deed of amendments was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-04552.AH.01.02.TH.2013 dated February 6, 2013.
The company is a member of big-size business group named the ABC Group
or the INTERCALLIN Group. They are the biggest producer of dry cell batteries,
soy sauce and syrups in Indonesia. The group is now launching a large-scale
expansion into the foods and beverages industry, supermarket management, tooth
paste industry and production of other consumer goods.
P.T. ATP operates under Domestic Investment (PMDN) facilities in can,
crown-cork manufacturing and metal printing by manages two plants located at
Jalan Ancol IX No.7, West Ancol, North Jakarta and another plant located at
Jalan Kapuk Kamal Muara 602, West Jakarta. P.T. ATP has been expansion
frequently to increase production capacity. P.T. ATP head office in Jakarta,
Indonesia and with its main factory located in Ancol, has a lengthy history of
producing high-quality printed metal products. The rapid development of the
industrial sector, both within Indonesia and throughout Asia, has provided
numerous growth opportunities for P.T. ATP. This is enabled the company to
expand its production capacity to include additional factories in Kapuk,
Cikande, and Cileungsi, all featuring sophisticated, state-of-the-art equipment
using the latest innovations in technology.
The plant produce crown corks, ROPP Caps & Closure, Lug Caps &
Screw Caps, Dry Food Containers, Sanitary Food Cans, General Line Cans, Printed
Sheets, Aluminum Two Piece Cans, Easy Opens Ends and Monobloc Aerosol Cans. The
company has kept pace with the evolving demands of the printed metal industry
and is able to meet the requirements of the market. In September 2000, P.T. ATP obtained an
expansion license to produce crown corks of 12,000 tons per years. P.T. ATP's
entire products are marketed locally on the job order basis. Some of its
regular customers are P.T. PERTAMINA (a state-owned oil company), P.T. UNILEVER
INDONESIA Tbk (a major consumer product industry), P.T. COCA COLA BOTLING
INDONESIA (a major soft-drink industry), P.T. BIMOLI (a large cooking-oil
industry), P.T. BIR BINTANG INDONESIA Tbk, P.T. DELTA DJAKARTA Tbk (a large
beer producer), P.T. INBISCO, P.T. NABISCO, P.T. MARSICO, P.T. SANMARU FOOD,
P.T. WONG COCO, P.T. KEONG NUSANTARA ABADI, P.T. NESTLE INDONESIA (all food stuff
producers), P.T. Pabrik Cat & Tinta PACIFIC , P.T. ICI PAINTS INDONESIA
(paint industry), P.T. SINAR SOSRO Tbk, P.T. INTERNATIONAL CHEMICAL INDUSTRIES
CO. LTD., P.T. SARA LEE INDONESIA and to
other food stuff producers in the ABC Group. P.T. ATP products have earned
trust and respect domestically and internationally and have achieved ISO 9002
KEMA certification in acknowledgment of their dependability. The company's
adherence to the principles of "Quality-Reliability-Service" is
proven by its output: products of the highest quality, thus ensuring their
reliability, and supported by superior, professional standards service. In this
way, management is able to forge long-term relationships with customers and
contribute to their success. The company aspires to build long-term
relationships with its customers and emphasizes a total service package.
The demand of metal printing, crown corks and can making has kept on
increasing in the last five years inline with the growth of industrial sectors
as customers. Starting in the second semester 2008, many markets in various
parts of the world experienced adverse economic condition. This condition was
triggered by, amongst others, the housing and mortgage loans crisis in the
United States of America (US) that spread to securities, structures products
and commodity markets. The volatility in the US markets coupled with the sharp
appreciation in the US Dollars and a series of corporate bankruptcies and
takeovers enabled the crisis to spread to other parts of the world. The impact
of the global economic crisis has also been felt in Indonesia as the Indonesian
Rupiah weakened, demand decrease, commodity prices decreased, securities market
declines, interest rate increased, followed by decreases, tightened liquidity
conditions, and increased credit risks. Up to this time, the Company has not
significantly suffered from the economic crisis. In response to these economic
events, during 2010 the Company has plans as follows: Negotiation with main
customer regarding increasing selling price. Cost reduction in business trip,
pantry needs, technical support cost, etc. Reduction finishing cost and transportation cost
with transferring product to customers. Improvements of internal production, increasing
cycle time and increasing machine running time. In spite of the adverse
economic conditions, management believes that the Company will be able to
continue operating as going concern for the foreseeable future.
Until this time P.T. ATP has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. ATP 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. 688.0 billion rose to Rp. 732.0 billion in 2012
increased to Rp. 745.0 billion in 2013 and projected to go on rising by at
least 6% in 2014. The operation in 2013 yielded an estimated net profit of at
least Rp. 48.4 billion and the company has an estimated total networth of at
least Rp. 175.0 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 company's management in day-to-day operations is headed by Mr.
Hendro Luhur (61) and his younger brother Mr. Hendri Luhur (60). They have had
the benefit of a high formal schooling, having graduated from overseas
university. The management is well-organized and professional in can and
crown-cork making and metal printing As far as business is concerned the
management of P.T. ATP has never involved in any fraudulent dealings. So far,
we have never heard of the management of the company being filed to the
district court for detrimental cases. As far as business is concerned the
management of P.T. ATP has never involved in any fraudulent dealings. P.T.
ANCOL TERANG METAL PRINTING INDUSTRI is sufficiently fairly good for business
transaction.
Attachment:
List of the ABC or
INTERCALLIN Group Members
·
ABC CENTRAL FOOD, P.T. (Investment Holding)
·
ABC PRESIDENT ENTERPRISES INDONESIA, P.T. (Animal
Feed Compound Milling and Food Processing)
·
ADEI PLANTATION AND INDUSTRY, P.T. (Crumb Rubber
Works)
·
AJINDO UNITED FOOD CORPORATION, P.T. (Processing of
Extract Tea Powders, Instant Coffee, Soy Sauce Powder and Tomato Sauces)
·
ANCOL TERANG METAL PRINTING INDUSTRI, P.T. (Metal
Printing and Can Making)
·
ANCOL TERANG MODERINDO, P.T. (Metal Printing and
Trading)
·
ANCOL TERANG MODERINDO BEVERAGE CAN INDUSTRY, P.T.
(Metal Printing and Can Making)
·
ANEKA PRIMA, C.V. (Trading)
·
ARJUNA TERANG PRIMA, P.T. (Pressurized Aluminum Can
Industry)
·
ARTA BOGA CEMERLANG, P.T. (Food Processing)
·
ASIA BUANA TRAVEL
& CO., Thailand (Tour and Travel Agency)
·
ASIASEJAHTERAPERDANAPHARMACEUTICAL, P.T. (Trading
and Distributor of Health Drink)
·
ASIATIC UNION PERDANA, P.T. (Distributor of ABC
Food Products)
·
AZO INTERNATIONAL (Pte), Singapore (Trading)
·
BRUSHINDO CEMERLANG, P.T. (Food Processing)
·
CITRABUANA UNGGUL, P.T. (Can Making)
·
DEWI PERTIWI OFFSET, P.T. (Offset Printing)
·
DHARMA WUNGU GUNA, P.T. (Integrated Palm Oil
Plantation and Refinery)
·
DJOJONEGORO DWITUNGGAL, P.T. (Investment Holding)
·
EMBASSE PRIMA FOOD INDUSTRY, P.T. (Food Processing)
·
EVERBRIGHT, P.T. (Dry Cell Battery Manufacturing)
·
GOLDEN DRAGON, P.T. (Management Execution and
Import)
·
GRAND PLAZA, P.T. (Hotelry)
·
HANIWELL MURNI, P.T. (Sanitary Napkin and Tissue
Paper Manufacturing)
·
HARI TERANG, P.T. (Dry Cell Battery Manufacturing)
·
HEINZ ABC INDONESIA, P.T. (Food Processing
Industry, Investment Holding)
·
INDONESIA PET BOTTLE, P.T. (Plastic and Glass
Packaging Manufacturing)
·
INTERNATIONAL CHEMICAL INDUSTRY, P.T. (Dry Cell
Battery Manufacturing)
·
PANGAN MAS INTI PERSADA, P.T. (Flour
Milling Processing)
·
PETINDO JAYA SAKTI, P.T. (PET Plastic Container
Manufacturing and Investment Holding)
·
PURI NGAYOJOKARTO, P.T. (Hotel and Restaurant
Management)
·
SINAR AUTO LAMP, P.T. (Auto Lamp Manufacturing)
·
SINARSINATAELECTRONICINDUSTRY, P.T. (Electrical
Goods Manufacturing)
·
SIN TONG TRAVEL SERVICES, Singapore, (Tour and
Travel Bureau)
·
SUMATRA ENAMEL FACTORY, P.T. (Enamel Manufacturing)
·
SUMATRA MATCH FACTORY, P.T. (Safety Matches
Manufacturing)
·
ULTRA PRIMA ABADI, P.T. (Manufacturing of Pressure Lamp
Mantel, Tooth Brushes and Tooth Pastes)
·
ULTRA PRIMA PLAST, P.T. (PVC Heat Shrinkable
Packaging Film Manufacturing)
·
UNIJAYA
(KAMPUT), P.T. (Trading)
·
VISTA METAL, P.T. (Steel building Material
Manufacturing)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
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.