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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. BINTANG
PASIFIC MAS |
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Registered Office : |
Jl. Pisangan Lama
Selatan No. 1, Komp. Pasar Induk Beras Cipinang Blok K-18 Jakarta 13230 |
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Country : |
Indonesia |
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Date of Incorporation : |
28.02.2011 |
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Com. Reg. No.: |
No.
AHU-13291.AH.01.01.Tahun 2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Engaged in trading, import and distribution of agricultural products · Importer of ground nut, soy bean, green mungbean, green peas, green peas, nutmeg, cumin seed, garlic, onion, sesame seed & sunflower seed from China, India, Canada, USA and Tanzania. |
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No of Employees : |
18 |
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. BINTANG
PASIFIC MAS
Head Office
Jl. Pisangan Lama
Selatan No. 1
Komp. Pasar Induk Beras Cipinang Blok K-18
Jakarta 13230
Indonesia
Phones - (62-21) 4585 2628 (hunting)
Fax - (62-21) 4584 7510
Email - sales@bpm-agri.com
Website - http://www.bpm-agri.com
Building Area - 2 storey
Office Space - 160 sq. meters
Region - Commercial
Status - Owned
28
February 2011
P.T.
(Perseroan Terbatas) or Limited Liability Company
The Ministry of
Law and Human Rights
No.
AHU-13291.AH.01.01.Tahun 2011
Dated
16 March 2011
National
Private Company
The Department of
Finance
Not
available
Not
available
Capital
Structure :
Authorized Capital - Rp.
2,000,000,000.-
Issued Capital - Rp. 1,000,000,000.-
Paid up Capital - Rp.
1,000,000,000.-
Shareholders/Owners
:
a.
Mr. Lim Gani Effendy - Rp.
990,000,000.- (99%)
Address
: The Summit Apartment, Alpen I/12C
Kel. Kelapa Gading Timur, Kec. Kelapa Gading
Jakarta Utara
Indonesia
b. Mr. Toni -
Rp. 10,000,000.- ( 1%)
Address : Gg. Gotong Royong, RT.005/RW.021
Kel. Siantan Tengah, Pontianak Utara
Pontianak, West Kalimantan
Indonesia
Lines
of Business :
Trading,
Import and Distribution of Agriculture Products
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
June
2011
Brand
Name :
BPM
(Bintang Pasific Mas)
Technical
Assistance :
None
Number
of Employee :
18
persons
Marketing Area :
Local -
100%
Main
Customers :
a.
Traditional Markets
b.
Food and Beverage Industries
Market
Situation :
Very
Competitive
Main
Competitors :
a.
PT. Gerbang Cahaya Utama
b. PT. Jakson Niagatama
c. PT. Kapuas Lestari
d.
PT. Sungai Budi
e.
Etc.
Business
Trend :
Growing
Bankers :
a.
P.T. Bank CENTRAL ASIA Tbk
Jl. Kelapa Gading Boulevard Raya Blok L No.
1
Kelapa Gading, Jakarta Utara
Indonesia
b. P.T. Bank EKONOMI Tbk
Jl. Kelapa
Gading Boulevard Blok FY-1/7-8
Kelapa Gading,
Jakarta Utara
Indonesia
c. P.T. Bank
MANDIRI Tbk.
Jl. Boulevard
Raya Blok L No. 8
Kelapa Gading, Jakarta Utara
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
Annual
Income (estimated) :
2011
– Rp. 4.5 billion (June – November)
2012
– Rp. 9.2 billion
2013
– Rp. 16.0 billion
Net
Profit (estimated) :
2011
– Rp. 120 million (June – November)
2012
– Rp. 260 million
2013
– Rp. 450 million
Payment
Manner :
Promptly
Financial
Comments :
Satisfactory
Board of Management :
Director -
Mr. Lim Gani Effendy
Board of Commissioners :
Commissioner - Mr. Toni
Signatories :
The
Director (Mr. Lim Gani Effendy) which must be approved by Board of Commissioner
(Mr. Toni)
Management Capability :
Good
Business Morality :
Good
P.T. BINTANG PASIFIC MAS (P.T. BPM) was established in Jakarta based on Notarial Deed No. 20 dated February 28, 2011 was made by Iriana Elisabeth Gloria Christina, SH., notary in Jakarta with an authorized capital of Rp. 2,000,000,000.- of which Rp. 1,000,000,000.- was issued and fully paid up. The founding shareholders are Mr. Lim Gani Effendy (99%) and Mr. Toni (1%), both are Indonesian businessmen of Chinese extraction. The Articles of Association was approved by the Minister of Law and Human Rights of the Republic of Indonesia through its Decision Letter No. AHU-13291.AH.01.01.Tahun 2011 dated March 16, 2011. No changes have been effected in term of its shareholding composition and capital structures to date. Composition of the board of director and the board of commissioner shall be as follows:
Director - Mr. Lim Gani Effendy
Commissioner - Mr. Toni
Pursuant to the company’s Articles of Association, P.T. BPM engaged to operate in trading, import-export, wholesaler, distributor, management consulting services, agricultural, plantation,, agribusiness and others. The Company’s registered office located at East Jakarta and the company can open branch offices or representative offices at home and abroad.
P.T. BPM has been in operation since June 2011 in trading, import and distribution of agricultural products. Mr. Herry, a marketing staff of the company explained that the whole agricultural products likes ground nut, soy bean, green mungbean, green peas, green peas, nutmeg, cumin seed, garlic, onion, sesame seed & sunflower seed are imported from China, India, Canada, USA and Tanzania. Then, the whole products are marketed to local market especially traditional markets in Jakarta and its surroundings, food and beverages industries, snack food industries and others. We observed that P.T. BPM is classified as a small-sized company of its kind in the country of which the operation had been running slowly.
We have noticed that the demand for agricultural products had increased some 10% to 11% per annum in the last five years in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 6% to 7% per annum. The present market situation for agricultural products is very competitive for a large number of similar companies operating in the country. Meanwhile, competition is quite heavy in the export import of agricultural products with many companies now doing business in this field in Indonesia. Business position of P.T. BPM is favorable for it has controlled a wide marketing network at home and their product has been widely known among consumers in the country.
We observed that financial condition of P.T. BPM has not been strong, because its operations in Indonesia just began in June 2011. P.T. BPM has yet not become a go public company (unlisted in the Indonesian Stock Exchange), so that they shall not obliged to announce their financial statement to the public. We estimated that total sales turnover of the company in 2011 (June to November) amounted of Rp. 4.5 billion increased to Rp. 9.2 billion in 2012 and 16.0 billion in 2013. The operation in 2013 yielded a net profit at least Rp. 450 million and the company has a total net worth of Rp. 2.0 billion. So far we did not hear that the company registered with the black list of Bank of Indonesia (Central Bank) or involved in the civil case that settled through the country court. The company usually pays its debts punctually to suppliers.
The company's management is headed by Mr.
Lim Gani Effendy (40), a young businessman with more than 8 years experience in
trading and distribution of agricultural products and spices. We consider the
management is quite capable of further developing business in the future. 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 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. BINTANG PASIFIC MAS 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.59.33 |
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UK Pound |
1 |
Rs.99.42 |
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Euro |
1 |
Rs.80.32 |
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.