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Report Date : |
27.11.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. WIRIFA SAKTI |
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Registered Office : |
Jalan
Rungkut Industri III 48-B, |
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Country : |
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Date of Incorporation : |
10.10.1981 |
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Com. Reg. No.: |
AHU-AH.01.10-18151 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing
of Animal Feed. |
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No. of Employees : |
165 Persons |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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B1 |
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.
WIRIFA SAKTI
A
d d r e s s :
Head
Office & Factory
Previous Address
Jalan
Rungkut Industri III 48-B
East
New
Address
Ngoro
Industri Persada (NIP) Blok T No.3
Jl.
Raya Ngoro Mojokerto
Phones -
(62-321) 6815441
Fax - (62-321) 6815450
E-mail - wirifa@rad.net.id
Land Area - 12,800 sq.
meters
Building Space - 10,000 sq. meters
Region - Industrial
Estate
Status - Owned
Date of Incorporation :
10
October 1981
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
- No. Y.A.5/12/9
Dated 6 January 1982
- No. AHU-14175.AH.01.02.TH.2009
Dated 20 April 2009
- No. AHU-AH.01.10-35999
Dated 9 November 2011
- No. AHU-13079.AH.01.02.TH.2014
Dated 7 April 2014
- No. AHU-AH.01.10-18151
Dated 16 May 2014
Company
Status :
Foreign
Investment (PMA) Company
Permits
by the Government Department :
a. The Department of Finance
NPWP No. 1.002.294.5-057.000
b. The Department of Industry
No. 218/T/Industri/1990
Dated 17 July 1990
c. The President of the
No. 306/Pres/12/1993
Dated 23 December 1993
d. The Capital Investment Coordinating Board
- No. 03/V/PMA/1994
Dated 11 January 1994
- No. 471/III/PMA/1998
Dated 6 April 1998
- No. 765/III/PMA/1999
Dated 21 June 1999
Related
Companies :
a. AMS,
b. INVIVO, NSA,
Capital
Structure :
Authorized
Capital : Rp.
10,000,000,000.-
Issued
Capital :
Rp. 5,474,000,000.-
Paid
up Capital :
Rp. 5,474,000,000.-
Shareholders/Owners
:
a. INVIVO, NSA - Rp.
4,927,000,000.-
Address : Talhouet, 56250 Saint-Nolff
56006 Vannes Cedex
b. AMS -
Rp. 547,000,000.-
Address :
Talhouet, 56250 Saint-Nolff
56006 Vannes Cedex
Lines
of Business :
Animal
Feed Manufacturing
Production
Capacity :
Compound
Feed - 100,000
tons p.a.
Total
Investment :
a. Equity Capital - Rp. 5.5 billion
b. Loan Capital -
Rp. 4.1 billion
c. Total Investment - Rp. 9.6 billion
Started Operation :
1982
Brand Name :
Wirifa Sakti
Technical Assistance
:
INVIVO, NSA France
Number of Employee :
165 persons
Marketing Area :
Local - 100%
Main Customer :
Animal Feed
Distributors
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALLIED FEEEDS
b. P.T. BINTANG TERANG GEMILANG
c. P.T. CARGILL INDONESIA
d. P.T. CENTRAL PROTEINAPRIMA
e. Etc.
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank
BNP PARIBAS INDONESIA
Menara BCA 35th
Floor
Jalan M.H. Thamrin No. 1
b. P.T. Bank MANDIRI Tbk
Jalan Rungkut Industri Raya No. 10
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2011
– Rp. 152.0 billion
2012
– Rp. 163.0 billion
2013
– Rp. 175.0 billion
2014
– Rp. 94.0 billion (January – June)
Net
Profit (estimated) :
2011
– Rp. 11.6 billion
2012
– Rp. 12.5 billion
2013
– Rp. 13.4 billion
2014
– Rp. 7.5 billion (January – June)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Pierre Toussaint Denis Mourice Bruwier
Director -
Mr. Felix Marie Segalen
Board of Commissioners :
President Commissioner - Mr. Hubert Roquefeuil
Commissioners - Mr. Budi Yanto Haliman
Signatories :
President
Director (Mr. Pierre Toussaint Denis Mourice Bruwier) or the Director (Mr.
Felix Marie Segalen) which must be approved by Board of Commissioners
Management Capability :
Good
Business Morality :
Good
P.T. WIRIFA SAKTI (P.T. WS) was incorporated
in
Concurrently the company status was changed
into Foreign Investment (PMA) company facility. Later based on notary deed of
Mr. Alexandra Pudentiana Wignjodigdo, SH., No. 65 dated 23 February 2009 the
authorized capital was raised to Rp. 5,474,000,000,000 wholly issued and paid
up. With this development the composition of its shareholders has been changed
to become EVIALIS of France (90%) and AMS of France (10%). The revision notary
deed of Mr. Alexandra Pudentiana Wignjodigdo, SH., No. 16 dated 15 August 2011
EVIALIS of France was changed into INVIVO, NSA France and so the shareholders
company in Indonesia has been changed to become INVIVO, NSA of France (90%) and
AMS of France (10%). Then according to the latest revision of notary deed Mrs.
Alexandra Pudentiana Wignjodigdo, SH., dated April 2014 the company board of
commissioner had been changed. The deed of amendments was approved by the
Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-18151
dated May 16, 2014.
P.T. WS operates under Foreign Investment
(PMA) facilities in the animal feed manufacturing. Initially, the plant is
located at Jalan Rungkut Industri III/48-B, Surabaya Industrial Estate Rungkut,
Surabaya, East Java standing on 12,800 sq. meters landsite. The plant has been
in operating since 1982 by produces of compound feed of 100,000 tons per year
respectively with an investment of Rp. 9.6 billion come from owned capital of
Rp. 5.5 billion while the rest is loans. Previously P.T. WS products uses
Galina brand. However on 6 June 2000 the company uses GUYOFEED brand in
partnership with INVIVO, NSA (ex EVIALIS) which is the largest animal feed
factory in France. GUYOFEED continue to innovate to produce all the feed
well. In mid-2013 the Company is
building a new factory and moved all production activities to the new factory,
which is located in Ngoro Industrial Persada (NIP), Ngoro Mojokerto, East Java
standing on 24,000 sq. meters landsite.
P.T. WS main products is a concentrate feed and feed another layer of
broilers, ducks, quail, pig, bird, cow, fish and horse. The company's
production is entirely marketed in the country under the GUYOFEED brand through
animal feed distributors appointed in several big cities of the country. We
observe the operation of P.T. WS has been growing and developing well in the
last three years.
In overall views we find the demand for
animal feed, fish meal, fish oil and feather meals had been rising by 5% to 6%
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. Besides that the competition is very tight due to a large
number of similar companies operating in the country. It’s projected the demand
for animal feed, fish meal, fish oil and feather meals will be rising in the
future at least 5% per annum. The business position of P.T. WS is appraised to
be favorable for having established wide marketing networks within and outside
the country.
Until this time P.T. WS has not been
registered with Indonesian Stock Exchange, so that they had not obliged to announce
their financial statement. The management of P.T. WS 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. 152.0 billion rose
to Rp. 163.0 billion in 2012 increased to Rp. 175.0 billion in 2013. As from
January to June 2014 the sales turnover has reached at Rp. 94.0 billion with a
net profit of Rp. 7.5 billion and projected to go on rising by at least 5% in
2015. The company has an estimated total networth of at least Rp. 55.0 billion.
We observe that P.T. WS is supported by foreign partner with has financially
strong and sound behind it. 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. WS is led by Mr.
Pierre Toussaint Denis Mourice Bruwier (57) a professional manager of INVIVO
NSA, France with experience in animal feed milling manufacturing and trading. In
his daily activity, he is assisted by Mr. Felix Marie Segalen (63) of France as
Director. The company's management is handled by professional staff in the
above business. They have wide relations with private businessmen within and
outside the country. 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. WIRIFA SAKTI is
sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.87 |
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|
1 |
Rs.97.23 |
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Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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.