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Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. ADIMITRA PINUS UTAMA |
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Registered Office : |
Jalan Poros Tobolo No. 5, Home Base Armeo, Bontomarannu
Gowa Residence, Gowa South |
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Country : |
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Date of Incorporation : |
17.03.2007 |
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Com. Reg. No.: |
AHU-17262.AH.01.01.TH.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Exporter of Oleo Pine
Resins |
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No. of Employees : |
21 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 : |
Slow but correct |
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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) |
|
Indonesia |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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. ADIMITRA PINUS UTAMA
Address :
Head Office
Jalan Poros
Tobolo No. 5
Home Base Armeo,
Bontomarannu
Gowa Residence,
Gowa
South Sulawesi
Indonesia
Phones -
(62-411) Not Enrolled
Fax - (62-411) Not Enrolled
E-mail - adimitraPU@gmail.com
Mobile Phone - 0812 176 999 07
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
17 March 2007
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
AHU-17262.AH.01.01.TH.2011
Dated 6 April
2011
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
Not Available
The Forest Service Gowa
No.
522.2/25/V/2007
The Regent of Gowa
No.
03.026/Ekonommi/2007
Related
Company :
P.T. ADIMITRA
PINUS NUSANTARA (Investment Holding)
Capital
Structure :
Authorized
Capital : Rp.
2,000,000,000.-
Issued Capital : Rp. 500,000,000.-
Paid up Capital : Rp. 500,000,000.-
Shareholders/Owners
:
a. P.T. ADIMITRA PINUS NUSANTARA - Rp.
425,000,000.-
Address :
Jl. Mojopahit No. 27
Kelurahan
Keputran, Kecamatan Tegalsari
Surabaya, East
Java
Indonesia
b. Mr. Raden Gautama Wiranegara - Rp. 50,000,000.-
Address : Asrama Den Intel Dam
VII Wirabuana
Kelurahan
Tamalanrea Jaya, Kecamatan Tama
lanrea,
Makassar, South Sulawesi
Indonesia
c. Mr. Haji Abdul Malik, SE -
Rp. 25,000,000.-
Address : BTN Gowa Mas Indah
Block G.7, RT. 003 RW. 003
Kelurahan
Bonto-Bontoa, Kecamatan Somba
Ompu, Gowa
Regency, South Sulawesi
Indonesia
Lines of Business :
Trading and Exporter of Oleo Pine
Resins
Production Capacity :
Oleo Pine Resins - 1,500 tons p.a.
Total Investment :
None
Started Operation :
June 2007
Brand Name :
Adimitra Pinus Utama
Technical Assistance :
None
Number of Employee :
21 persons
Marketing Area :
Export -
100%
Main Customer :
Buyers in India
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM JAYA LOKA
b. P.T.
DUTA PERMATA MURNI
c. P.T.
MILATRONIKA KARYANIAGA
d.
P.T. NINDYABINA ABADI SENTOSA
e. P.T.
PERHUTANI ANUGERAH KIMIA
f.
P.T. TAPANULI PINE CHEMICALS
Business Trend :
Growing
Bankers :
P.T. Bank MANDIRI
Tbk
Jalan K. Haji
Wahid Hasyim
Gowa, South
Sulawesi
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 21.0
billion
2012 – Rp. 23.0
billion
2013 – Rp. 25.0
billion
2014 – Rp. 13.4
billion (January – June)
Net Profit
(estimated) :
2011 – Rp. 1.7
billion
2012 – Rp. 1.9
billion
2013 – Rp. 2.1
billion
2014 – Rp. 1.1
billion (January – June)
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Ir. Haji Tjuk Budi Utomo, MT.
Director -
Mr. Susanto Gunawan AKA Rudy Susanto
Board of Commissioners :
Commissioner -
Mr. F. Budhi Santoso Suwandi Putra
Signatories :
President Director (Mr.
Ir. Haji Tjuk Budi Utomo, MT) or the Director (Mr. Susanto Gunawan AKA Rudy
Susanto) which must be approved by Board of Commissioner
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
P.T. ADIMITRA PINUS UTAMA (P.T. APU) was established in Gowa Regency,
South Sulawesi based on notary deed Mrs. Elpa Santira, SH., no. 22 dated 17 March
2007 with the authorized capital of Rp. 2,000,000,000 issued capital of Rp.
500,000,000 fully and paid up. The company was founded by P.T. ADIMITRA PIUS
NUSANTARA (85%), Mr. Raden Gautama Wiranegara (10%) and Mr. Haji Abdul Malik,
SE., (5%), they are indigenous businessmen. The notary deed of incorporation
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-17262.AH.01.01.TH.2011 dated April 6, 2011.
P.T. APU has been operating since June 2007 dealing with trading and exporter
of oleo pine chemicals. To support its operations, P.T. APU received permission
from the Regent of Gowa and Forest Service Gowa. P.T. APU only manages
pine forests in
an area of 11,996 hectares in Gowa
Regency, South Sulawesi. Pine resin processed into gondorukem (colophonium resin) in East
Java, before being exported to India. Gondorukem or
oleo pine resin is used as a
raw material of camphor, glue, bags, cosmetics
and ink.
Mr. Rudy Susanto, director of the
company when contacted by mobile phone (0812 176 99907) explained the whole
oleo pine resin is exported to India. Previously the company also exported oleo
pine chemicals to Vietnam. We observe that P.T. APU is classified a small sized
company of its kinds with operation has been growing and developing well in the
last three years.
We note that generally the domestic and international market demand for
gum resin, turpentine oil, gum copal and other Indonesian forestry industry
products has been rising in the last several years in line with the growing
production of paint, thinner, cosmetics and other consumer industry products.
But domestic production limitations have caused foreign buyer needs to be
unfulfilled sometimes. The competition is very tight on account lots of
companies operating in the country. P.T. APU business prospect is sufficiently
fairly good because most of the products is exported.
Until this time P.T. APU has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. APU is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimated that total sales turnover of the
company in 2011 amounted to Rp. 21.0 billion rose to Rp. 23.0 billion in 2012
increased to Rp. 25.0 billion in 2013. As from January to June 2014 the sales
turnover was amounted at Rp. 13.4 billion with a net profit of Rp. 1.1 billion.
It is projected the sales will be increasing by at least 6% in 2015. 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. APU is led by Mr. Ir. Haji Tjuk Budi Utomo, MT
(64) a businessman and professional manager with experience in trading, and
exporter of oleo pine resin. Daily
activity he is assisted by Mr. Susanto Gunawan AKA Rudy Susanto (65) 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. ADIMITRA PINUS UTAMA
is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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.