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Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. GREEN
GALUNGGUNG |
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Registered Office : |
Jalan Tebet Barat X A No. 45 Kelurahan Tebet Barat, Kecamatan Tebet Jakarta Selatan, 12810 |
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Country : |
Indonesia |
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Date of Incorporation : |
26.10.2011 |
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Com. Reg. No.: |
No. AHU-54134.AH.01.01.TH.2011 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Drilling and Blasting Services |
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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 |
|
|
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) |
|
Indonesia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
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. GREEN GALUNGGUNG
Address :
Head Office
Jalan Tebet Barat X A No. 45
Kelurahan Tebet Barat, Kecamatan Tebet
Jakarta Selatan, 12810
Indonesia
Phones - (62-21) 490 16709
Fax - (62-21) 831 3945
E-mail - y_supri1970@yahoo.co.id
yadi.supriyadi@greengalunggung.com
Website - http://www.greengalunggung.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation
:
26 October 2011
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
No. AHU-54134.AH.01.01.TH.2011
Dated 04 November 2011
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 03.118.441.9-014.000
Related Company :
None
Capital Structure :
Authorized Capital : Rp.
1,000,000,000.-
Issued Capital : Rp.
1,000,000,000.-
Paid up Capital : Rp.
1,000,000,000.-
Shareholders/Owners :
a. Mrs. Susanty Dewi, SE, Ak -
Rp. 250,000,000.-
Address : Jl.
Tebet Barat Dalam VIII H/06, RT. 001 RW.
005, Kelurahan Tebet Barat,
Kecamatan
Tebet Jakarta Selatan
Indonesia
b. Mr. Yadi Supriyadi -
Rp. 250,000,000.-
Address : Jl. Sukabumi Block IV No. 258, RT. 003 RW. 018
Kelurahan Kota Baru,
Kecamatan Cibeureum
Tasikmalaya, West Java
Indonesia
c. Mr. Ir. Taufik Nawanto Hartadi -
Rp. 250,000,000.-
Address : Jl.
Tebet Barat Dalam VIII H/06, RT. 001 RW.
005, Kelurahan Tebet Barat,
Kecamatan
Tebet Jakarta Selatan
Indonesia
d. Mrs. Yatni Dewi Fornita -
Rp. 250,000,000.-
Address : Jl. Sukabumi Block IV No. 258, RT. 003 RW. 018
Kelurahan Kota Baru,
Kecamatan Cibeureum
Tasikmalaya, West Java
Indonesia
Lines of Business :
Drilling and Blasting Services
Production Capacity :
None
Total Investment :
None
Started Operation :
2012
Brand Name :
Green Galunggung
Technical Assistance :
None
Number of Employee :
21 persons
Marketing Area :
Local - 100%
Main Customer :
Coal mining and general mining
Market Situation :
Very Competitive
Main Competitors :
a. P.T. MAROSCO TAMA
b. P.T. PUTRA MANDIRI SEJAHTERA
c. P.T. SURYA BLASTINDO PRIMA
d. P.T. WIRIKA JAYA KENCANA
e. Etc.
Business Trend :
Growing
B a n k e r :
P.T. Bank MANDIRI Tbk
Jalan Tebet Timur Dalam Raya No. 115
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total Revenues (estimated) :
2012 – Rp. 7.8 billion
2013 – Rp. 8.5 billion
2014 – Rp. 4.8 billion (January – June)
Net Profit (estimated) :
2012 – Rp. 0.6 billion
2013 – Rp. 0.7 billion
2014 – Rp. 0.4 billion (January – June)
Payment Manner :
Average
Financial Comments :
Satisfactory
Board of Management :
President Director - Mrs. Susanty Dewi, SE, Ak.
Director - Mr. Yadi Supriyadi
Board of Commissioners :
President Commissioner - Mr. Ir. Taufik Nawanto Hartadi
Commissioner - Mrs. Yatni Dewi Fornita
Signatories :
President Director (Mrs. Susanty Dewi,
SE, Ak) or the Director (Mr. Yadi Supriyadi) which must be approved by Board of
Commissioner.
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
P.T. GREEN GALUNGGUNG (P.T. GGG) was established in Jakarta based on
notary deed Mrs. Ninik Sukadarwati, SH., no. 10 dated 26 October 2011 with the authorized
capital of Rp. 1,000,000,000 wholly issued and paid up. The founding and
shareholders of the company are Mr. Ir. Taufik Nawanto Hartadi (25%) his wife
Mrs. Susanty Dewi, SE., Ak (25%) with Mr. Yadi Supriyadi (25%) and his wife
Mrs. Yatni Dewi Fornita (25%), they are indigenous business family. Based on
our knowledge up to writing the report the notary documents of the company have
not undergone any changes. The notary deed of incorporation was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-54134.AH.01.01.TH.2011 dated November 4, 2011.
P.T. GGG is a national private company started to be operating since
2012 engaged in the field of drilling and blasting services. The company had
been work experience, one of the experience projects is drilling and
sandblasting. P.T. GGG is drilling and blasting company which provides drilling
and blasting services to civil construction and quarry industries;
provides drilling, blasting and other related services to a diverse customer
base including the mining, civil construction and quarry sectors; provides
services including blast-hole drilling, rock blasting, blast design and
survey. Drilling & Blasting Services are surface & underground
mining (coal, gold, etc); quarry (andecite, limestone etc.); civil work &
construction (rock wall cutting, road cutting, trenching, tunneling, dam
construction, etc.). P.T. GGG scope of works are bunker construction,
blasting permits, blasting supervision, blasting design, and bore hole drilling.
The whole explosive is obtained from P.T. P.T. DAHANA
(Persero), P.T. ASA KARYA MULTI PRATAMA, P.T. ARMINDO PRIMA, P.T. KALTIM
NITRATE INDONESIA, P.T. MEXIS, P.T. MULTI NITROTAMA KIMIA and others.
P.T. GGG has completed drilling and blasting projects such as quarry
project – P.T. Bintang Karya Mandiri, East Kalimantan; coal mining project –
P.T. Bukit Menjangan Lestari, East Kalimantan; quarry project – P.T. Anugerah
Kreatif Mandiri, Belitung; coal mining project – P.T. Citarum Borneo Quantum,
East Kalimantan; quarry project – P.T. CYMA - Central Java; quarry project –
P.T. Bintang Karya Mandiri, East Kalimantan; quarry project – P.T. Makmur
Kreatif Mandiri, Bangka; Komodo Airport Expansion - Constructions – P.T.
Kurniadjaja Wirabhakti, NTT; hauling road project – P.T. Batulicin Beton
Asphalt, South Kalimantan and quarry project – P.T. Anugerah Kreatif Mandiri,
Belitung. We observe the operation of P.T. GGG has been growing and developing
well in the last two years.
The demand for drilling and sandblasting services has kept on increasing
by at least 6% to 8% in the last five years in line with the growth and
development of coal mining, general mining, road construction and others as
customers. However, in spite of the lower demand, the mining sector remains the
biggest buyer of heavy equipment who contributed around 60 percent of the total
sales. Indonesia’s mining industry, the world’s top producer of nickel ore, tin
and thermal coal for power stations, grew 3.9% in the fourth quarter of this
year, while the manufacturing sector reached 5.3%, lower than the country’s
overall economic growth of 5.7%, as shown in the government’s data. Indonesia’s
ban on exportation of mineral ores will also stall the country’s demand for the
heavy equipment in mining and mining construction that includes nickel, iron
and bauxite, starting January 12, 2014, as part of a policy to boost the
revenue by turning the country into a manufacturer of higher-value products.
The government is using it to push companies to invest in building smelters to
refine raw ores.
The Energy and Mineral Resources Ministry said that the country expects
to produce 397 million metric tons of coal in 2014, lower than the production of
421 million metric tons in 2013. Coal is not affected by the mineral ban. The
coal companies are picking from the cheap areas (low Stripping Ratio), causing
slower overburden (OB) removal. This indicates that coal companies are
struggling to keep up with the low price, and unlikely to invest anytime soon.
This would create an impact on the demand of heavy equipment significantly.
Until this time P.T. GGG has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. GGG is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimated that total sales turnover of the
company in 2012 amounted to Rp. 7.8 billion rose to Rp. 8.5 billion in 2013. As
from January to June 2014 the sales turnover of the company has reached at
least 4.8 billion with a net profit of at least 0.4 billion. It is projected
the sales turnover will be higher 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. GGG is led by Mrs. Susanty Dewi, SE, Ak (46) a
businesswoman and professional manager with experience in drilling and
sandblasting services. Daily activity she is assisted by Mr. Yadi Supriyadi
(44) 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. GREEN GALUNGGUNG
is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
SDA |
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.