|
Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. BERUANGMAS MULTIKIMIA |
|
|
|
|
Registered Office : |
Jalan Panjang No. 26, Komplek Citta Graha Block 1-K, Kedoya Selatan, Kebon Jeruk, Jakarta Barat, 11530 |
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|
|
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Country : |
Indonesia |
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|
|
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Date of Incorporation : |
30.05.1995 |
|
|
|
|
Com. Reg. No.: |
No. AHU-62926.AH.01.02.TH.2008 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Trading and Distribution of Paint and Ink Chemicals |
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|
|
No. of Employees : |
18 |
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. BERUANGMAS MULTIKIMIA
A d d r e s s :
Head Office
Jalan Panjang No. 26
Komplek Citta Graha Block 1-K
Kedoya Selatan, Kebon Jeruk
Jakarta Barat, 11530
Indonesia
Phones -
(62-21) 5818020, 5331434, 5331435, 5331439
Fax - (62-21) 5821982, 5360286
E-mail - beruang@cbn.net.id
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
30 May 1995
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C2-4.528.HT.01.01.TH.96
Dated 6 March 1996
- No.
C-24973.HT.01.04.TH.2005
Dated 8 September 2005
- No.
AHU-62926.AH.01.02.TH.2008
Dated 15 September 2008
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
NPWP No. 01.724.714.9-038.000
Related Companies :
a. P.T. BERKAT KARYA
RIMBAWAN (Logs and Investment Holding)
b. P.T.
BETARA AGUNG TIMBER (Logs)
c. P.T. LABAFURNI
GRAHAPRIMA (Picture Frame Making)
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. Hans Karel Lie, M.Sc -
Rp. 780,000,000.-
Address : Green Garden Block G 4/18, RT. 012 RW.
004
Kel. Kedoya Utara, Kec. Kebon Jeruk
Jakarta Barat
Indonesia
b. Mr. Bachtiar Ismail -
Rp. 80,000,000.-
Address : Green Ville Block AJ/1, RT. 002
RW. 14
Kel. Duri Kepa, Kec. Kebon
Jeruk
Jakarta Barat
Indonesia
c. Mr. Matthew Ary -
Rp. 80,000,000.-
Address : Jl. Danau Dibawah G-II No. 44
Bendungan Hilir
Jakarta Selatan
Indonesia
d. Mrs. Lisa Tan -
Rp. 60,000,000.-
Address : Green Garden Block G 4/18, RT. 012 RW.
004
Kel. Kedoya Utara, Kec. Kebon Jeruk
Jakarta Barat
Indonesia
Lines of Business :
Trading and Distribution of Paint and Ink Chemicals
Production Capacity :
None
Total Investment :
None
Started Operation :
1996
Brand Name :
Beruangmas Multikimia
Technical Assistance :
None
Number of Employee :
18 persons
Marketing Area :
Local - 100%
Main Customer :
Emulsion and Paint Industries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BINTANGMAS PERMAI UTAMA
b. P.T. GERRINDO SURYA
MAKMUR
c. P.T. SINARKIMIA UTAMA
d. P.T. TIRTAWANA SEMESTA KENCANA
e. Etc.
Business Trend :
Growing
B a n k e r s :
a.
P.T. Bank CENTRAL ASIA Tbk
Jalan Tomang Tol Raya A1 No. 21-22
Jakarta
Barat
Indonesia
b.
P.T. Bank DANAMON INDONESIA Tbk
Jalan Panjang No. 28
Jakarta
Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2011 – Rp. 17.2 billion
2012 – Rp. 18.5 billion
2013 – Rp. 19.2 billion
Net Profit (estimated) :
2011 – Rp. 1.2 billion
2012 – Rp. 1.3 billion
2013 – Rp. 1.5 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mr. Hans Karel Lie, M.Sc.
Directors - a. Mr. Bachtiar Ismail
b. Mr. Matthew Ary
Board of Commissioners :
Commissioner - Mrs. Lisa Tan
Signatories :
President Director (Mr. Hans Karel Lie,
M.Sc.) or one of the Directors (Mr. Bachtiar Ismail or Mr. Matthew Ary) which
must be approved by Board of Commissioner.
Management Capability :
Good
Business Morality :
Good
P.T. BERUANGMAS MULTIKIMIA (P.T. BM) was established in May 1995 with an
authorized capital of Rp. 1,000,000,000 issued capital of Rp. 200,000,000 wholly
paid up. Founders and shareholders of the company originally are Mr. Hans Karel
Lie, MSc., Mrs. Stephanie Halim, Mrs. Henny Luise Jocom, Mrs. Lisa Tan and Mrs.
Selvia Sultana Lie. They are wholly Chinese origin Indonesian entrepreneurs.
It’s articles of association has been frequently changed a couple of times. In
November 1999, the issued capital was raised to Rp. 300,000,000 entirely paid
up. Then in March 2005, the authorized capital was increased to Rp.
2,000,000,000 issued capital of Rp. 1,000,000,000 wholly paid up. On the same
occasion, Mr. Stefanie Halim, Mrs. Henny Luise Jocom and Mrs. Selvia Sultana
Lie, pulled out and replaced by Mr. Matthew Ary and Mr. Bachtiar Ismail as new
shareholders. With this time the composition of its shareholders has been
changed to become Mr. Hans Karel Lie, M.Sc., (78%), his wife Mrs. Lisa Tan
(6%), Mr. Bachtiar Ismail (8%) and Mr. Matthew Ary (8%). The latest according
to the latest revision of notary deed Mr. Charles Hermawan, SH., No. 21 dated
20 August 2008 the board of directors and the board of commissioner reappointed
to lead and runs of the company’s operation. The latest revision of notary
documents was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-62926.AH.01.02.TH.2008 dated September 15, 2008.
We see that majority business stakes of the company is controlled by Mr.
Hans Karel Lie, M.Sc. He is also majority business stakes holder of P.T. BERKAT
KARYA RIMBAWAN dealing with logging and investment holding, P.T. BETARA AGUNG
TIMBER dealing with logging, P.T. LABAFURNI GRAHAPRIMA dealing with picture
frame making, P.T. LAMBUR SAWMILL dealing with woodworking industry and P.T.
RIAU TANAH PUTIH in logging industry.
P.T. BM started with operation in 1996 in trading and distribution of
paint and ink chemicals. It is the sole agent for paint and ink chemicals of
WESTMINT paint chemical of the Netherlands and LUKHASMIR paint chemical of
Germany, LAUTER, LACOMA paint chemical of Australia, MUNZING Chemie GmbH and
ROBERT KHAEMER GmbH of Germany. Mr. Hans Karel Lie, M.Sc., president director
of the company disclosed that whole products are supplied to various paint and
emulsion manufacturing companies, ink industry in Jakarta, Bandung and others
cities. The global economic crisis and steep Rupiah depreciation to the US$ and
other hard foreign currencies have adversely affected P.T. BM's business for
having drastically increased the prices of imported materials and consequently
production costs, while the intake capacity of consuming industries has
declined. We see that P.T. BM's operations have been slow in developing in
conditions of the unstable economic condition in the country.
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 paint industry,
plastic, ink, textile, rubber, printing 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. BM business position in this case is not too badly because it
has built regular customers and extensive marketing network all across the
country.
Imports of Raw
Materials and Auxiliary Goods, 2007-2012
|
Year |
Food and
Beverages Mainly for Industry (Million US$) |
Raw Materials for Industry (Million US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
|
|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
|
|
2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
|
|
2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
|
|
2011 |
4,186.7 |
3,330.2 |
6,813.2 |
53.409.6 |
|
|
2012 |
4,101.0 |
3,349.2 |
5,639.7 |
59,437.0 |
|
Source: Central Bureau of Statistic (BPS)
Until this time P.T. BM has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement. The
management of P.T. BM 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. 17.2 billion rose to Rp. 18.5 billion in 2012
increased to Rp. 19.2 billion in 2013 and projected to go on rising by at least
5% in 2014. The operation in 2013 yielded an estimated net profit of at least
Rp. 1.5 billion and the company has an estimated total net worth of at least
Rp. 5.0 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.
P.T. BM's management is headed by Mr. Hans Karel Lie, M.Sc., (52) a
Master of Science from University of Berkley, the USA. He has about 23 years of
experience in trading and distribution of paint and ink chemicals. The company
has an experienced management backed by a team of staffs also with experience
in the above business. They are widely connected in private business circles
within and outside the country, while maintaining quite good relations with the
government sector. So far, we did not hear that the management of the company
being filed to the district court for detrimental cases. The company’s
litigation record is clean and it has not registered with the black list of
Bank of Indonesia. P.T. BERUANGMAS MULTIKIMIA is appraised quite good for
business transactions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
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.