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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. MITRA KREASIDHARMA |
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Registered Office : |
Wisma UIC 4th
Floor, Jalan Jend. Gatot Suboto Kav. 6-7 |
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Country : |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
No. AHU-AH.01.10-41421 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Supply and Distribution
of Agricultural Chemical Formulation and Hybrid Corn Seed Plants |
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No. of Employees : |
32 |
RATING & COMMENTS
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Indonesia |
B1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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
|
Source
: CIA |
Name of
Company :
P.T. MITRA
KREASIDHARMA
A d d r e s s
:
Head Office
Wisma UIC 4th
Floor
Jalan Jend. Gatot
Suboto Kav. 6-7
Jakarta Selatan,
12930
Indonesia
Phones -
(62-21) 57905242 (Hunting)
Fax - (62-21) 57902544
E-mail - info@mkdgroup.com
Website - http://www.mkdgroup.com
Building Area - 5 storey
Office Space - 800 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
18 October 1988
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
- No.
C2-4503.HT.01.01.TH.89
Dated 20 May 1989
- No.
AHU-62194.AH.01.02.TH.2008
Dated 12 September 2008
- No.
AHU-AH.01.10-41421
Dated 9 October 2013
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
NPWP No. 01.337.080.4-011.000
Related
Companies :
a. P.T. INDONOX MITRA PRATAMA (Trading and
Distribution of Fertilizers)
b. P.T. INTI EVERSPRING INDONESIA (Pesticides
Active Ingredients Industry)
c. P.T. PERKASACIPTA TERANG (Investment Holding)
Capital
Structure :
Authorized
Capital : Rp.
15,000,000,000.-
Issued Capital : Rp. 5,250,000,000.-
Paid up Capital : Rp. 5,250,000,000.-
Shareholders/Owners
:
a. P.T. PERKASACIPTA TERANG - Rp. 4,535,500,000.-
Address
:Wisma UIC 4th Floor
Jl. Jend. Gatot Subroto Kav. 6-7
Jakarta Selatan
Indonesia
b. Mr. Ridwan Soeriyadi -
Rp. 717,500,000.-
Address : Green Garden Block
E-I/27
Kelurahan
Kedoya Utara, Kecamatan
Kembangan,
Jakarta Barat
Indonesia
Lines of Business :
Trading, Supply and Distribution of
Agricultural Chemical Formulation and Hybrid Corn Seed Plants
Production Capacity :
None
Total Investment :
None
Started Operation :
1989
Brand Name :
Mitra Kreasidharma
Technical Assistance :
None
Number of Employee :
32 persons
Marketing Area :
Local - 100%
Main Customer :
Traders and Distributor
Market Situation :
Very Competitive
Main Competitors :
a. P.T. AGROTANI UNGGUL LESTARI
b. P.T. FADJARPURNAMA PRATAMAINTI
c. P.T. MEROKE TETAP JAYA
d. P.T. PETROKIMIA KAYAKU
e. P.T. TRITAMA WIRAKARSA
Business Trend :
Growing
B a n k e r s
:
P.T. Bank CENTRAL
ASIA Tbk
Wisma UIC
Jalan Jend. Gatot
Subroto Kav. 6-7
Jakarta Selatan
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
Annual Sales
(estimated) :
2011 – Rp. 31.9
billion
2012 – Rp. 33.8
billion
2013 – Rp. 35.0
billion
Net Profit
(estimated) :
2011 – Rp. 1.9
billion
2012 – Rp. 2.2
billion
2013 – Rp. 2.5
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Andi Solaiman
Directors -
a. Mr. Eddy Jahja
b. Mr. Ridwan Soeriyadi
Board of Commissioners :
Commissioner -
Mr. Andi Hartandi
Signatories :
President Director (Mr.
Andi Solaiman) or one of the Directors (Mr. Ridwan Soeriyadi or Mr. Eddy Jahja)
which must be approved by Board of Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Credit Recommendation :
Credit should be proceeded with monitor
Proposed
Credit Limit :
Small amount –
periodical review
P.T. MITRA
KREASIDHARMA (P.T. MKD) was established in Jakarta based on notary deed Mrs.
Sumardillah Oriani Roosdilan, SH., no. 166 dated 18 October 1988 with an authorized
capital of Rp. 600,000,000 issued capital of Rp. 120,000,000 entirely paid up.
The founding and shareholders of the company are Mr. Hartono Gunawan and Mr.
Gaotama Setiawan, both of are Indonesian businessmen of Chinese descents. Its
article of association has been changed a couple of times and in August 2008
the company authorized capital was increased to Rp. 15,000,000,000 issued
capital of Rp. 5,250,000,000 entirely paid up. On the same occasion Mr. Hartono
Gunawan and Mr. Gaotama Setiawan pulled out and the whole shares taken over by
P.T. PERKASACIPTA TERANG (86.33%) and Mr. Ridwan Soeriyadi (13.67%). Then
according to the latest revision of notary deed Mrs. Agnes Angelika, SH., no.
09 dated September 5, 2013 the company board of director and the board of
commissioner had been changed to lead and runs of the company’s operation. The
deed of amendments was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-AH.01.10-41421 dated October 9, 2013.
P.T. MKD is a
national private company started to be operating since 1989 dealing with
trading, supply and distribution of agricultural chemical formulation and
hybrid corn seeds plants. P.T. MKD is a trading company which main
business is the marketing and distribution of pesticides,
quality seeds of
plants such as corn hybrid, and antioxidant
products for domestic
and overseas markets.
Pesticide products marketed by P.T. MKD consists
of various formulations
of insecticides, acaricides, fungicides, herbicides and
ajuvants are packed with various sizes
according to the needs of farmers
and plantation companies. All products are marketed
pesticide factory owned by the Group formulated in
MKD, with most of
the technical material for formulations also
produced by MKD
Group. P.T. MKD is an authorized distributor pesticides
of P.T. INTI EVERSPRING INDONESIA. The whole products marketed locally to farmers in East Java, Central Java,
West Java, Lampung, Pekanbaru, Medan, Kalimantan, Sulawesi and other cities in
the country. Beisdes some of the products supplied to private plantation
companies, the government and other parties. We observe the operation of P.T.
MKD has been growing and developing well in the last three years.
Generally,
demand for pesticides, fungicides, herbicides, insecticides has kept on
increasing in the last five years being in line with the growth and development
of agro industries and plantation industries in the country. There are lots
expansion plantation areas having been realized from expansion of agricultural
companies or new investment. There is indication that the increased plantation
areas are shown in the growth and development investment interest on plantation
sectors and more realized of the development projects by plantation companies
obtaining license. The increasing investment on plantation sector is also good
impact to the agricultural commodities in international markets.
Until this time
P.T. MKD has not been registered with Indonesian Stock Exchange, so that they
had not obliged to announce their financial statement. The
management of P.T. MKD 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. 31.9 billion rose to Rp. 33.8 billion in
2012 increased to Rp. 35.0 billion in 2013 and projected to go on rising by at
least 6% in 2014. The operation in 2013 yielded an estimated net profit of at
least Rp. 2.5 billion and the company has an estimated total networth of at
least Rp. 5.0 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. MKD is led by Mr. Andi Solaiman (53) a businessman with experience in
trading, supply and distribution of agricultural chemical formulation and
hybrid corn seeds plants. Andi Solaiman is a senior executive with the Salim
Group with over 20 years commercial experience in a diverse range of businesses
within the Group. Andi is currently the President Director and Chief Executive
Officer of PT Indokemika Jayatama, a leading distributor of chemicals and
additives to the food, oleo and cosmetics, industrial chemicals and plastics
and rubber industries. Andi is also a director of AsiaMedic Limited, Interflour
Holdings Limited and Universal Integrated Corporation Consumer Products Pte.
Ltd. Salim Group has significant interests in the nutrition, food processing,
animal husbandry, agriculture and distribution sectors worldwide. He earned a
Bachelor of Science and Master of Business Administration from Drury
University, Springfield, Missouri, USA in 1986.
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. MITRA
KREASIDHARMA is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.