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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. LINTAS BUANA UNGGUL |
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Registered Office : |
Jalan Pangeran
Jayakarta No. 68 Block A - 18, |
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Country : |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
AHU-79762.AH.01.02.TH.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export Import and Distribution of Agricultural Commodities
Products |
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No of Employees : |
18 |
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 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Indonesia |
B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
P.T. LINTAS BUANA UNGGUL
Head Office
Jalan Pangeran
Jayakarta No. 68 Block A - 18
Jakarta Pusat,
19730
Indonesia
Phones -
(62-21) 6264733 (Hunting)
Fax - (62-21) 6281215
E-mail - tunasself@yahoo.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Building
Status - Rent
Branch
Jalan Perak Timur 512 Block C - 9
Surabaya, 60165
East Java
Indonesia
Phones -
(62-31) 329 2260 (Hunting)
Fax - (62-31) 328 3276
E-mail - sby.tunas@yahoo.com
Building Area - 2 storey
Office Space - 100 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation :
2000
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry
of Law and Human Rights
- No. AHU-79762.AH.01.02.TH.2008
Dated 30 October 2008
- No. AHU-33228.AH.01.02.TH.2012
Dated 18 June 2012
Company Status :
National Private Company
Permit by the Government Department
:
The Department of Finance
NPWP No. 02.417.040.9-026.000
Related Companies :
a. P.T.
BUANA TUNAS SEGARA SUMBUR (Trading and Distribution of Agricultural
Commodities)
b. P.T.
PRIMA NUSA LENTERA (Trading, Import and Distribution of Garlic, Red Onion, Leek
Onion and Ground Nut)
c. P.T.
TUNASUTAMA SARIPERKASA (Trading, Import and Distribution of Agricultural
Commodities and Investment Holding)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital : Rp. 30,000,000,000.-
Issued Capital : Rp.
10,500,000,000.-
Paid up Capital : Rp.
10,500,000,000.-
Shareholders/Owners
:
a. P.T.
TUNASUTAMA SARIPERKASA -
Rp. 9,712,500,000.-
Address : Jl. Pangeran Jayakarta
68/A - 18
Mangga Dua
Selatan, Jakarta Pusat
Indonesia
b. Mr. Farid
Helingo - Rp. 525,000,000.-
Address : Jl. Haji Achmad RT.
09/04
Bale Kambang,
Kramat Jati
Jakarta Timur
Indonesia
c. Mr. Philip
Tamzir - Rp. 262,500,000.-
Address : Taman Kalijaga Permai Block H/14
Harjamukti,
Cirebon
West Java
Indonesia
BUSINESS ACTIVITIES
|
Lines of
Business :
Trading, Export
Import and Distribution of Agricultural Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2000
Brand Name :
Lintas Buana Unggul
Technical Assistance :
None
Number of Employee :
18 persons
Marketing Area :
Local - 100%
Main Customer :
Traditional Market
Market Situation :
Very Competitive
Main Competitors :
a. P.T. GOLDEN HARVESTINDO
b. P.T. SARIMAKMUR TUNGGALMANDIRI
c. P.T. TEMPUREJO
d. P.T. TIRTA BAHAGIA
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR &
LITIGATION
|
Banker :
P.T. Bank PANIN
Tbk
Jalan Pangeran
Jayakarta
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
|
Annual Sales
(estimated) :
2011 – Rp. 12.6
billion
2012 – Rp. 13.2
billion
2013 – Rp. 14.0
billion
Net Profit
(estimated) :
2011 – Rp. 630
million
2012 – Rp. 760
million
2013 – Rp. 840
million
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
|
Board of Management :
President Director - Mr. Farid Helingo
Director -
Mr. Philip Tamzir
Board of Commissioners :
Commissioner -
Mr. Ifan Effendy
Signatories :
President Director (Mr.
Farid Helingo) or the Director (Mr. Philip Tamzir) which must be approved by
Board of Commissioner
CAPABILITIES
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Management Capability :
Good
Business Morality :
Satisfactory
Credit Risk :
Average
OVERALL PERFORMANCE
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P.T. LINTAS BUANA UNGGUL (P.T. LBU) was established in Jakarta in 2000’s with an authorized capital of Rp. 200,000,000 issued capital of Rp. 50,000,000 fully and paid up. The founding shareholders of the company are Mr. Ifan Effendy with his business partners namely Mr. Farid Helingo and Mr. Philip Tamzir, they are Indonesian businessmen of Chinese origins. The company notary deed has been changed in September 2008 the authorized capital was raised to Rp. 1,000,000,000 issued capital to Rp. 250,000,000 entirely paid up. With this development the composition of its shareholders changed to become Mr. Ifan Effendy (70%), Mr. Farid Helingo (15%) and Mr. Philip Tamzir (15%). The deed of amendment was made by Mr. Nelson Eddy Tampubolon SH., a public notary in Jakarta was approved by the Ministry of Law and Human Right in its Decision Letter No. AHU-79762.AH.01.02.TH.2008, dated October 30, 2008. Then according to the latest revision of notary deed of Mr. Nelson Eddy Tampubolon, SH., No. 24 dated 16 May 2012 the company authorized capital was increased to Rp. 30,000,000,000 issued capital to Rp. 10,500,000,000 fully and paid up. On the same occasion Mr. Ifan Effendy withdrew and the whole share taken over by P.T. TUNASUTAMA SARIPERKASA as new shareholder. With this development the composition of its shareholders has been changed to become P.T. TUNASUTAMA SARIPERKASA (92.5%), Mr. Farid Helingo (5%) and Mr. Philip Tamzir (2.5%). The deed of amendments was approved by the Ministry of Law and Human Rights in its decision letter No. AHU-33228.AH.01.02.TH.2012 dated June 18, 2012.
We observe that the majority shareholders is held by Mr. Ifan Effendy, and he is also founder and business stakes owner of P.T. BUANA TUNAS SEGARA SUMBER, P.T. PRIMA NUSA LENTERA AGUNG and P.T. TUNASUTAMA SARIPERKASA all engaged in the field of trading, import and distribution of agricultural commodities products.
P.T. LBU has been operating since 2000 to deal with trading, export import and distribution of agricultural commodities products. Mr. Farid Helingo, President Director of P.T. LBU went on to say the merchandising goods products including are garlic, ground nuts, red onion. He also added the agricultural commodities products like garlic is imported from China, ground nuts from India. Besides, the other products likes red onion is obtained from Brebes (Central Java) and East Java and the exported to Singapore. Mr. Farid Helingo added the company has exported spices to China, Thailand, Vietnam, India and Myanmar and it’s depends of the order bases from the customers and buyers. Then, the whole product likes garlic and groundnut marketed locally through traditional market in Jakarta, East Java and Sumatera. We observed that the company’s operation has been growing and developing well in the last three years.
We have noticed that the demand for agricultural products had increased some 10% to 11% per annum in the last five years in line with the growth of industrial manufacturing in the country and international market. In the coming years, the growth rate of demand is estimated at about 6% to 7% per annum. The present market situation for agricultural products is very competitive for a large number of similar companies operating in the country. Meanwhile, competition is quite heavy in the export import of agricultural products with many companies now doing business in this field in Indonesia. . We consider P.T. LBU to be in a quite favorable position for having already got hold of a steady clientele in the Jakarta, Java and Sumatera.
P.T. LBU has not been registered with Indonesian Stock Exchange, so that they had not obliged to announce their financial statement. The management of P.T. LBU 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. 11.6 billion rose to Rp. 13.2 billion in 2012 increased to Rp. 14.0 billion in 2013 and projected to go on rising by at least 5% in 2014. It is projected the company has gained a net profit of Rp. 840 million with an estimated total networth of at least Rp. 10.5 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.
The management of P.T. LBU is led by Mr. Farid Helingo (47) a business and professional manager with experience for more than 14 years in trading, export import of agricultural commodities products. But we are sure the primemover of the company is Mr. Ifan Effendy (59) a businessman and professional manager with experience in trading, import and distribution of agriculture commodities products. Daily operation he is assisted by Mr. Philip Tamzir (54) as a director. The management is handled by experienced staff in this business, having maintained a wide business relation with private businessmen at home and abroad as well as with government sectors. So far, we did not hear that the company’s management involved in business malpractice or detrimental cases that settled in the country. The company’s litigation record is clean and it has not registered with the black list of Bank of Indonesia. P.T. LINTAS BUANA UNGGUL is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
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UK Pound |
1 |
Rs.100.49 |
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Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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Report Prepared
by : |
SMN |
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 |
-- |
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.