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Report Date : |
13.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. HALIM SAKTI PRATAMA |
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|
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Formerly Known As : |
PD. HALIM |
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Registered Office : |
Jl. Tomang Raya
No. 4 |
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Country : |
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|
|
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Date of Incorporation : |
1972 |
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|
|
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Legal Form : |
Private Limited Company |
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|
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Line of Business : |
Trading,
Supplier and Distribution of Industrial and Specialty Chemicals |
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No. of Employees : |
170 |
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 |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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. HALIM SAKTI PRATAMA
Head Office
Jl. Tomang Raya
No. 4
Jakarta 11430
Indonesia
Phones -
(62-21) 5600400 (hunting), 5660708
Fax. - (62-21)
5600390, 5667440
Email - hsp@halim-sakti.com
Building Area - 6 storey
Office Space - 480 sq. meters
Region - Commercial
Status - Owned
WarehouseS
a. Jl.
Agung Podomoro Blok A-4/14
Sunter Agung
Podomoro
North Jakarta
Indonesia
b. Jl.
Industri Raya III, Blok Ae No. 28
Jatake,
Tangerang
Banten
Province
Indonesia
Date of Incorporation :
1972 as PD. HALIM
(Sole Proprietary Company) changed its name to P.T. HALIM SAKTI PRATAMA
(Private Limited Company), on November 15, 1996.
Legal Form :
P.T. (Perseroan
Terbatas) or Private Limited Company
Company Reg.
No. :
The Ministry of Law and Human Rights
a. No. C2-1173
HT.01.01.Th.97
Dated 19 February 1997
b. No. AHU-52039.AH.01.02.Tahun 2008
Dated 19 August 2008
c. No.
AHU-61045.AH.01.02.Tahun 2012
Dated 30 November 2012
d. No.
AHU-AH.01.10-08148
Dated 07 March 2013
Company Status
:
National Private
Company
Permit by the
Government Department :
a. The Department of Finance
NPWP No. 01.772.284.4-038.000
b. The Department of Industry and Trade
TDP No. 09.02.1.51.17517
Dated 08 December 2004
Holding
Company :
P.T. HALIM SAKTI
(Investment Holding or Holding Company)
Associated/Affiliated
Companies:
a. P.T. SINAR PERMATA HALIM SWADAYA
(Food Additives Manufacturing)
b. P.T. HALIM
SARANA CAHAYA SEMESTA (Supplier of Industrial and Specialty Chemicals)
c. P.T. HALIM
SAMUDRA INTERUTAMA (Plastic Compound Manufacturing)
d. P.T. PASTI
LANCAR MITRA LANGGENG (Import, Export and Freight Forwarding Services)
e. P.T. HALIM
SEJAHTERA CIPTA MANDIRI (Supplier of Industrial and Specialty Chemicals)
f. P.T. BANK MULTIARTA SENTOSA (Banking)
g. Etc.
Capital
Structure :
Authorized Capital - Rp. 200,000,000,000.-
Issued Capital - Rp. 140,000,000,000.-
Paid up Capital - Rp. 140,000,000,000.-
Shareholders/Owners
:
a. P.T. HALIM SAKTI -
Rp. 135,800,000,000.- (97%)
Address : Jl.
Tomang Raya No. 4
Jati Pulo, West Jakarta
Indonesia
b. Mr. Januarlis Halim -
Rp. 140,000,000.- ( 1%)
Address :
Jl. Wuluh Blok I/28
Kota Bambu, Central Jakarta
Indonesia
c. Mr. Jusuf Halim - Rp. 140,000,000.- ( 1%)
Address :
Senayan Residence Kav. B15
Kebayoran Lama, South
Jakarta
Indonesia
c. Mr. Husin Halim -
Rp. 140,000,000.- ( 1%)
Address :
Senayan Residence Kav. B15
Kebayoran Lama, South
Jakarta
Indonesia
Lines of
Business :
Trading, Supplier
and Distribution of Industrial and Specialty Chemicals
Sole Agent/Distributor for:
a. Canada
- Marco Organiques Inc
- Unimin Canada Ltd
b. China
-
Daicel Nanning Chemical
-
Dalian Chemson Chemical Products
-
Peacock Pigment
c. Colombia
-
Sucromiles S.A
d. Denmark
-
CP Kelco APS
-
Novozymes A/S
e. Germany
-
K+S Kali GMBH
f. India
-
Ajante Chemical Industries
-
Hindalco Industries Ltd
-
Lucid Group
g. Japan
-
Asahi Denka Co Ltd
-
Dai-ichi Kogyo Seiyaku
-
Daicel Chemical Int Ltd
-
Konoshima Chemical Co Ltd
-
Kyowa Chemical Industry
-
Meiji Seika Kaisha Ltd
-
Mitsubishi Rayon Co Ltd
-
Mitsubishi Kagaku Foods Corp
-
Nihon Kagaku Kaisha Ltd
-
Nippon Soda
-
Nissan Chemical Industries
-
Takehara
h. Korea
-
Hanhwa Corporation
-
LG Chemical Corporation
-
Miwon Commercial Co Ltd
i. Malaysia
-
Dow Chemical Sdn Bhd
-
Hunt Tong Food Technology Sdn Bhd
-
Pacific Iron Products Sdn Bhd
-
Riken Vitamin Company Ltd
-
Takehara Chemical Sdn Bhd
j. Netherlands
-
DSM Special Products
k. Singapore
-
Adeka Asia Pte Ltd
-
Akzo Nobel Co Ltd
-
Exxonmobil Asia Pacific Pte Ltd
-
Faci Asia Pacific Pte Ltd
l. South
Africa
-
Lanxess Pty Ltd
m. Switzerland
- Nyrstar International AG
- Trafigura Beheer BV
n. Taiwan
-
Chang Chun Petrochemical Co Ltd
-
Chi Mei Corporation
-
Jia Dah Chemical Industrial
-
Lee Chang Yung Chemical Industrial Corporation
-
Lih Hsiang Industrial Corporation
-
Power Chemical Corporation
o. Thailand
-
Adeka Fine Chemical Co Ltd
-
Aditya Birla Chemicals
-
Thasco Chemical Co Ltd
-
Turkey
-
Akdeniz Kimya Sanayi Ve Ticaret As
p. United
Kingdom
-
Chemson Chemical Products
q. USA
-
Tate & Lyle North America
-
Grain Processing \ Corporation Products
-
Archer Daniels Midland Co
Total Investment :
None
Started
Operation :
1972 when it was
name PD. HALIM
Brand Name :
HALIM SAKTI
PRATAMA
Technical
Assistance :
None
Number of
Employee :
170 persons
Marketing Area
:
Local
(Domestic) - 100%
Main Customers
:
a. Food and
Beverage Industries
b. Paint and Ink
Industries
c. Ceramic Tile
Industries
d. Plastic
Product Industries
e. Etc.
Market
Situation :
Very Competitive
Main
Competitors :
a. PT. Sari
Sarana Kimia
b. PT. United Chemicals Inter Aneka
c. PT. Wadah
Makmur Kencana
d. PT. Timur
Raya Tunggal
e. PT. Indokemika Jayatama
f. PT. Graha Jaya
Pratama Kinerja
g. PT. Brataco
h. PT. Makro Chemindo
i. PT.
Colorindo Chemtra
j. PT. Dwo Chemical Indonesia
Business Trend
:
Growing
B a n k e r s :
a. P.T. Bank MULTIARTHA SENTOSA Tbk
Jl. Suryopranoto No. 24-A
Jakarta Selatan
b. P.T. Bank PERMATA Tbk
Bank
PERMATA Plaza
Jalan
Jend. Sudirman Kav. 27
Jakarta
Selatan
c. ABN AMRO BANK N.A.
ABN AMRO Building
Jalan Ir. H. Juanda No. 23-24
Jakarta Pusat
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp.
2,490.0 billion
2012 – Rp.
2,830.0 billion
2013 – Rp.
2,990.0 billion
Net Profit
(estimated) :
2011 – Rp. 120.0
billion
2012 – Rp. 136.0
billion
2013 – Rp. 144.0
billion
Payment Manner
:
G o o d
Financial
Comments :
Satisfactory
Board of Management :
President Director
- Mr. Januarlis Halim
Directors -
a. Mr. Husin Halim
b. Mrs. Erniwati Halim
c. Mrs. Ettiwati Halim
Board of Commissioners :
President Commissioner -
Mr. Jusuf Halim
Commissioners -
a. Mrs. Ernawati Halim
b. Mr. Hasan Halim
c. Mr. Hakim Halim
Signatories :
President Director (Mr.
Januarlis Halim) or one of the Directors (Mr. Husin Halim, Mrs. Erniwati Halim
or Mrs. Ettiwati Halim) which must be approved by Board of Commissioners
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Below average
Credit Recommendation :
Credit can be processed normally
Proposed
Credit Limit :
Moderate amount
Originally
named PD HALIM, it was established in 1972 with legal status a Sole Proprietary
Company. The founding owner of the
company is Mr. Jusuf Halim, an Indonesian businessman of Chinese extraction. On November 15, 1996, the company renamed to
P.T. HALIM SAKTI PRATAMA (P.T. HSP) with legal status a Private Limited
Company. The company’s authorized
capital is Rp 10,000,000,000.- of which Rp. 5,000,000,000.- was issued and
fully paid up. The founding shareholders
of P.T. HSP are P.T. HALIM SAKTI (97%), Mr. Jusuf Halim (1%), and his sons Mr.
Januarlis Halim (1%) and Mr. Husin Halim (1%). The Articles of association
(notarial Deed) was made by Paulus Widodo Sugeng Haryono, SH., a public notary
in Jakarta and it has been approved by the Ministry of Law and Human Right in
its Decision Letter No. C2-1173 HT.01.01.Th.97 dated February 19, 1997. The
company's notarial Deed has frequently been amended. In October 2004, the authorized capital was
raised to Rp. 60,000,000,000 of which Rp. 40,000,000,000 was issued and fully
paid up.
Most
recently by notarial Deed of Paulus Widodo Sugeng Haryono, SH., No. 48 dated
October 10, 2012 the authorized capital was raised again to Rp.
200,000,000,000.- of which Rp. 140,000,000,000.- was issued and fully paid up. However, no changes have been effected in
term of its shareholding composition and capital structures to date. The amendment to notarial Deed has been
approved by the Ministry of Law and Human Right in its Decision Letter No.
AHU-61045.AH.01.02.Tahun 2012 dated November 30, 2012 and No.
AHU-AH.01.10-08148 dated March 7, 2013.
P.T.
HALIM SAKTI is holding company of The HALIM SAKTI Group, a medium-sized
business group led by Mr. Januarlis Halim (71), the first son of Mr. Jusuf
Halim (85). The Group members are
engaged in many type of businesses among others are specialty chemical
manufacturing and trading, calcium carbonate processing, plastic compound
manufacturing, banking, export-import, freight forwarding and others.
P.T.
HSP has been operating since 1972 (when it as name PD. HALIM) in general
trading and distribution of industrial chemicals. Then, in 1997 the Company
took over all business activities of P.T. HALIM SAKTI which has been operating
since 1976 in field of dealing with trading and distribution of industrial and
specialty chemicals. On the same occasion P.T. HALIM SAKTI becoming the Holding
Company of the HALIM SAKIT Group. P.T.
HSP has been entrusted to be major distributors for many different countries
such as Taiwan, Japan, USA, Canada, Denmark, United Kingdom, Columbia, South
Africa, China, Thailand, Malaysia, Singapore, Taiwan, India, The marketing of P.T. HSP is supported by
its three sister companies namely P.T. HALIM SARANA CAHAYA SEMESTA and P.T.
SINAR PERMATA HALIM SWADAYA, both are operating in Surabaya (East Java) to
serve the eastern part of Java activities and P.T. HALIM SEJAHTERA CIPTA
MANDIRI operating in Medan (North Sumatra) to serve business activities in
Northern Sumatra and the surrounding region. We observed that P.T. HSP is classified
as a largest-sized company of its kind in the country of which the operation
has been growing in the last three years.
The
domestic demand for various types of chemical products had been rising by 8% to
10% on the average per annum in the last five years in line with the rapid
growth of various industrial sectors including ink & coating industries,
cosmetic industries, food and beverage industries, pharmaceutical industry,
paint, plastic, ink, textile, rubber, printing industries and others in the above
period of times as the consumers. But, later dwindled as the global economic
slowdown since October 2008, followed by tight money policy imposed by
Indonesian Central Bank (Bank Indonesia) and also heated by political issue in
the country. The demand growth started to awake in June 2009 in line with the
amelioration of economic condition in the country. Market competition is very tough on account
of large number of other similar companies operating in the country. P.T. HSP
business position in this case is not too badly because it has built regular
customers and extensive marketing network all across the country.
Until
this time P.T. HSP has not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. The
management of P.T. HSP 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. 2,490.0 billion increased to Rp. 2,830.0
billion in 2012 rose again to Rp. 2,990.0 billion in 2013 and projected to go
on rising by at least 8% in 2014. The operation in 2013 yielded an estimated
net profit of at least Rp. 144.0 billion and the company has an estimated total
net worth of at least Rp. 220.0 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. HSP is led by Mr. Jamuarlis Halim (72) a businessman who experienced
for more than 41 years in the field of trading, supplier and distribution of
industrial and specialty chemicals.
Daily operation he is assisted by his younger brother and sisters namely
Mr. Husin Halim (57), Mrs. Erniwati Halim (53) and Mrs. Ettiwati Halim (49),
third as director respectively. The management is handled by experienced staff
in this business, having maintained a wide business relation with private
businessmen at home and abroad as well as with government sectors. 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.
HALIM SAKTI PRATAMA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.09 |
|
|
1 |
Rs.101.59 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
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.