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Report Date : |
22.11.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. CITRA INA FEEDMILL |
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Formerly Known As : |
P.T. CITRA INA FEEDMILL on May 9, 1996. |
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Registered Office : |
Jl. Suci Km. 24 (Jl. Raya Bogor Km. 24) Kp.
Susukan, Pasar Rebo Susukan sub-district, Ciracas district Pasar Rebo, |
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Country : |
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Date of Incorporation : |
28.06.1994 |
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Com. Reg. No.: |
No. AHU-AH.01.10-18999 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Animal Feed Milling Industry |
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No. of Employees : |
290 persons |
RATING & COMMENTS
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MIRAs 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 June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Source
: CIA |
Name
of Company :
P.T.
CITRA INA FEEDMILL
Address
:
Head
Office & Factory
Jl. Suci Km. 24 (Jl. Raya Bogor Km. 24)
Kp. Susukan, Pasar Rebo
Susukan sub-district, Ciracas district
Pasar Rebo,
Phones -
(62-21) 840 0844 (hunting)
Fax. -
(62-21) 841 3748
Email -
guyofeed@centrin.net.id
Land Area -
2.5 hectares
Building Space - 1.1 hectares
Region -
Industrial Zone
Status -
Owned
Date
of Incorporation :
28 June 1994 as P.T. CITRA INDONESIA
FEEDMILL, changed its name to P.T. CITRA INA FEEDMILL on May 9, 1996.
Legal
Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company
Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-17230.AH.01.02.Tahun 2009
Dated 30 April 2009
b. No. AHU-AH.01.10-14933
Dated 19 May 2011
c. No. AHU-AH.01.10-18999
Dated 17 May 2013
Company
Status :
Foreign Investment Company (PMA)
Permits
by the Government Department :
a. The
Department of Finance
NPWP No. 01.662.848.9-007.000
b. The
Capital Investment Coordinating Board
- No. 663/I/PMDN/1994
Dated 14 October 1994
- No. 79/III/PMDN/1995
Dated 21 February 1995
- No. 64/V/PMA/2006
Dated 20 April 2006
c. The
Department of Industry
No. 529/T/INDUSTRI/2000
Dated 11 August 2000
Holding Companies
:
a. P.T. WIRA NARENDRA (Investment Holding)
b. P.T. TUNAS SAKTI PERSADA (Investment
Holding)
c. P.T. WIRIFA SAKTI (Investment Holding)
Capital
Structure :
Authorized Capital - Rp. 15,000,000,000.-
Issued Capital - Rp. 10,155,000,000.-
Paid up Capital - Rp. 10,155,000,000.-
Shareholders/Owners
:
a.
P.T. WIRA NARENDRA -
Rp. 6,211,000,000.- (61.16%)
Address : Wisma Argo Manunggal
Jl. Jend. Gatot Subroto Kav. 22
Jakarta Selatan
b. P.T. TUNAS SAKTI PERSADA - Rp. 2,444,000,000.- (24.07%)
Address : Wisma Argo Manunggal
Jl. Jend. Gatot Subroto Kav. 22
Jakarta Selatan
c.
P.T. WIRIFA SAKTI -
Rp. 1,500,000,000.- (14.77%)
Address : Jl. Jend. Sudirman No. 28
Surabaya, East Java
Lines
of Business :
Animal Feed Milling Industry
Production
Capacity :
Animal Feeds - 96,000 tons p.a.
Total
Investment :
a. Owned Capital
- Rp 10.2 billion
b. Loan
Capital - Rp 8.5 billion
c. Total
Investment - Rp 18.7 billion
Started
Operation :
1995
Brand
Name :
Guyofeed, Proxial and Royal Horse
Technical
Assistance :
None
Number
of Employee :
290 persons
Marketing
Area :
Domestic
- 100%
Main
Customers :
a. P.T. BINA SATWA
b. P.T. SINAR INTI MUSTIKA
c. P.T. SEMESTA MITRA SEJAHTERA
d. P.T. BINTANG SEJAHTERA BERSAMA
e. P.T. MITRA SINAR JAYA
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. CHAROEN POKPHAND
b. P.T. JAPFA COMFEED
b. P.T. CHEIL JEDANG SUPERFEED
c. P.T. SIERAD PRODUCE
d. P.T. CENTRAL PROTEINA PRIMA
e. P.T. CARGILL
Business
Trend :
Growing
Bankers :
a. P.T. Bank MANDIRI Tbk
Wisma Bank MANDIRI
Jalan Gatot Subroto Kav. 36-38
Jakarta Barat
Indonesia
b. P.T. Bank BNI Tbk
Wisma BNI Kota 46
Jalan Jend. Sudirman Kav. 1
Auditor
:
Internal Auditor
Litigation
:
No litigation record in our database
Annual
Sales (estimated):
2010 Rp. 550.0 billion
2011 Rp. 620.0 billion
2012 Rp. 660.0 billion
2013 Rp. 705.0 billion
2014 Rp. 380.0 billion (January June)
Net
Profit (estimated) :
2010 Rp. 28.0 billion
2011 Rp. 31.6 billion
2012 Rp. 34.0 billion
2013 Rp. 36.0 billion
2014 Rp. 19.4 billion (January June)
Payment
Manner :
Average
Financial
Comments :
Fairly
Board of Management :
President Director - Mr.
Ir. Airlangga Hartarto, MBA
Directors
- a. Mr. Felix Marie
Segalen
b. Mrs. Venny Sutedja
c. Mr. Mugino Kristyohadi
Board of Director :
President
Commissioner - Mr. The Nicholas
Commissioners - a. Mr. Piere Toussaint Denis Mourice Bruwier
b. Mr. Hubert Antoine Marie De Roquefeuil
Signatories :
President
Director (Mr. Ir. Airlangga Hartarto, MBA) or
one of directors (Mr. Felix Marie Segalen, Mrs. Venny Sutedja and Mr.
Mugino Kristyohadi) which must be approved by Board of Commissioners.
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Below
average
Credit Recommendation :
Credit
can be proceeded normally
Proposed Credit
Limit :
Moderate amount
Originally named P.T. CITRA INDONESIA
FEEDMILL, the company was established on June 28, 1994 with an authorized
capital of Rp 10,000,000,000.- of which Rp 4,350,000,000.- was issued and paid up.
The founding and original
shareholders of the company are P.T. BINA SATWA (50%) and P.T. WIRA NARENDRA
(50%), both are private companies. On
May 9, 1996 the company's name was changed to P.T. CITRA INA FEEDMILL (P.T.
CIF). On February 20, 2009, the
authorized capital was raised to Rp. 15,000,000,000.- of which Rp.
10,155,000,000.- was issued and fully paid up. Since at the time, the
shareholders of the company are P.T. WIRA NARENDRA (61.16%), P.T. TUNAS SAKTI
PERSADA (24.07%) and P.T. WIRIFA SAKTI (14.77%). The latest amendment to Deed
was made by Mr. Misahardi Wilamarta, SH., a notary public in Jakarta based on
natarial deed No. 86 dated April 18, 2013, and it was approved by the Minister
of Law and Human Rights through Decision Letter No. AH-AH.01.10-18999 dated May
17, 2013. No changes have been effected in term of its shareholding composition
and capital structures to date.
P.T. WIRIFA SAKTI is a subsidiary company of
Evialis International of France (in vivo NSA-France), which is one company
engaged in animal nutrition and distribution of feed and livestock. In
Indonesia Evialis International has been operating since the year 1983 started
with a factory in
Originally, P.T.
CIF obtained a Domestic Investment (PMDN) facility issued by the Capital
Investment Coordinating Board (BKPM) in 1994 to deal with livestock feed
milling. But since April 2006, the
facility status is changed to Foreign Investment Company (PMA). Its plant is located at Jl. Suci Km. 24 (Jl.
Raya Bogor Km. 24), Kampung Susukan, Pasar Rebo,
Mr. Toto, an administrative staff of the
company explained that PT CIF produce animal feeds for broiler chicken, layer
chicken, duck, quail, pork, beef and lab products (rabbit, cavia, rat, and
monkey) as well as horse feed. The
brands of products currently being produced and marketed by P.T. CIF, among
others: Guyofeed, Proxial and Royal Horse.
Guyofeed feed raw material dip roses through strict QC and formulation
of balanced so as to produce quality feed with a balanced and appropriate to
the needs of livestock. Mr. Toto went
on to say that whole products of the company are marketed locally among
breeders in West Java, Central Java, East Java and
In overall views we find the demand for
animal feed and feather meals had been rising by 6% to 8% per year in the last
five years, in line with the growth of animal feed industry in the country. We
observed that the national poultry industry in 2008 is having a difficult time
as production cost has been increasing due to the high prices of the basic
materials for animal feed triggered by bad weather conditions and the world
crude oil price hike. The demand was
increasing in the early 2009 due to economic condition was gradually recovery
in the country. The growth rate is now estimated at 5% to 6% per year. The
market competition is very tight due to a large number of similar companies
operating in the country such as PT. Charoen Pokphand
Until this time P.T. CIF has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. The management of P.T. CIF is very
reclusive towards outsiders and rejected to disclose its financial condition.
However, we estimated that sales turnover of the company in its initial
operation in 2011 amounted to Rp. 620.0 billion increased to Rp 6600.0 billion
in 2012 and rose again to Rp 705.0 billion in 2013 and estimated will increase
again at least 8% in 2014. It is
estimated that P.T. CIFs operation has in 2013 yielded a total net profit of
Rp 36.0 billion with a total assets of Rp 280.0 billion. The punctual payment
habit of the company ranging from 1 to 3 months is running smoothly. So far, we
did not heard that the company having been black listed by the Central Bank
(Bank
The management of P.T. CIF is led by Mr. Ir.
Airlangga Hartarto, MBA (52) an indigenous businessman 22 years of experience
in various business. He is a son of the
late Ir. Hartarto, a former Minister of Industry in Soeharto era. In daily activities, he is assisted by three
directors namely Mr. Felix Marie Segalen (63) of France, Mrs. Venny Sutedja
(55) and Mr. Mugino Kristyohadi (61), both from
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.85 |
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1 |
Rs.97.01 |
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Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SDA |
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
SCs 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.