MIRA
INFORM REPORT
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Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. CENTAURUS CHEMICALS |
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Registered Office : |
Rukan Taman Meruya
Ilir Block M No. 45 Jalan Meruya Utara Merua Utara, Kemabangan Jakarta Barat,
11620 |
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Country : |
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Date of Incorporation : |
04.10.2007 |
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Com. Reg. No.: |
C-06004.HT.01.01.TH.2007 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Trading and
Distribution of Specialty Chemicals |
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No. of Employees |
13 |
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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Indonesia |
B1 |
B1 |
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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 |
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 |
Company name
Name of
Company :
P.T.
CENTAURUS CHEMICALS
address
Head Office
Rukan Taman
Meruya Ilir Block M No. 45
Jalan Meruya
Utara
Merua Utara,
Kemabangan
Jakarta Barat,
11620
Indonesia
Phones -
(62-21) 5841520 (Hunting)
Fax - (62-21) 5841532
E-mail - info@centauruschemicals.com
Website - http://www.centauruschemicals.com
Building Area - 2 storey
Office Space - 110 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
4 October 2007
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg.
No. :
The Ministry of Law and Human Rights
No.
C-06004.HT.01.01.TH.2007
Dated 11 December
2007
Company Status
:
National Private
Company
Permit by the
Government Department :
The Department of Finance
Not Available
Related
Company :
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
1,000,000,000.-
Issued Capital : Rp. 600,000,000.-
Paid up Capital : Rp. 600,000,000.-
Shareholders/Owners
:
a. Mr. Odet Sugiarto Dharmasakshita Oman Sumedha - Rp. 210,000,000.-
Address :
Jl. Ridwan I/26, RT. 005 RW. 007
Kelurahan
Grogol Utara, Kecamatan
Kebayoran Lama,
Jakarta Barat
Indonesia
b. Mrs. Violetta Anggrenie Noto - Rp.
210,000,000.-
Address : Jl. Gatotan No. 11,
RT. 001 RW. 008
Kelurahan
Krembangan Selatan, Kecamatan
Krembangan,
Surabaya, East Java
Indonesia
c. Mrs. Ang Sioe Yien -
Rp. 120,000,000.-
Address : Jl. Gatotan No. 11,
RT. 001 RW. 008
Kelurahan
Krembangan Selatan, Kecamatan
Krembangan,
Surabaya, East Java
Indonesia
d. Mr. Ang See Hwa -
Rp. 60,000,000.-
Address :
Jl. Gatotan No. 11, RT. 001 RW. 008
Kelurahan
Krembangan Selatan, Kecamatan
Krembangan,
Surabaya, East Java
Indonesia
BUSINESS ACTIVITIES
Lines of
Business :
Trading and
Distribution of Specialty Chemicals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
2008
Brand Name :
Centaurus
Chemicals
Technical
Assistance :
None
Number of Employee :
13 persons
Marketing Area :
Local - 100%
Main Customer :
Textile industries, paint industries
and others
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BINTANGPERMAI UTAMA
b. P.T. MITRACHEM SURYA
c. P.T. VISICHEM INDONESIA
d. P.T. WAHANA CHEMICAL
e. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r s
:
P.T. Bank CENTRAL
ASIA Tbk
Jalan Meruya Ilir
Raya
Jakarta Barat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2011 – Rp. 8.0
billion
2012 – Rp. 8.5
billion
2013 – Rp. 9.2
billion
Net Profit
(estimated) :
2011 – Rp. 0.4
billion
2012 – Rp. 0.5
billion
2013 – Rp. 0.6
billion
Payment Manner
:
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
Board of Management :
President Director - Mr. Odet Sugiarto Dharmarakshita Oman Sumedha
Directors -
a. Mrs. Ang Sioe Yien
b. Mrs. Ang See Hwa
Board of Commissioners :
Commissioner -
Mrs. Violetta Anggrenie Noto
Signatories :
President Director (Mr.
Odet Sugiarto Dharmarakshita Oman Sumedha ) or one of the Directors (Mrs. Ang
Sioe Yien or Mrs. Ang See Hwa) which must be approved by Board of Commissioner.
CAPABILITIES
Management Capability :
Satisfactory
Business Morality :
Satisfactory
Credit Risk :
Average
OVERALL PERFORMANCE
P.T. CENTAURUS
CHEMICALS (P.T. CC) was set-up in Jakarta based on notary deed Mrs. Melyyani Noor
Shandra, SH., no. 09 dated 4 October 2007 with the authorized capital of Rp.
1,000,000,000 issued capital of Rp. 600,000,000 fully and paid up. The company
was founded by Mr. Odet Sugiarto Dharmarakshita (35%), Mrs. Violetta Anggrenie
Noto (35%), Mrs. Ang Sioe Yien (20%) and Mrs. Ang See Hwa (10%). The notary
deed of incorporation was approved by the Ministry of Law and Human Rights in
its decision letter No. C-06004.HT.01.01.TH.2007 dated December 11, 2007.
P.T. CC has been
operating since 2008 dealing with trading, supply and distribution of specialty
chemicals. Mrs. Tika, customer services of the company explained the
merchandise goods products are textile chemical, dyestuff, coloring matter,
sizing agents, paint chemical, leather chemicals, electroplating chemical and
others chemicals. Besides, the company is able to provide other chemicals based
on job orders from customers. The whole products imported from China and India.
The products are sold to textile industries, paint industries, cosmetic and
pharmaceutical industries and other industries. We observe that P.T. CC is
classified a small sized company of its kinds in the country which operation
has been growing slowly in the last three years.
The domestic
demand for various types of chemical products had been rising by 8% to 10% on
the average per annum in the last five years in line with the rapid growth of
various industrial sectors including textile chemical in the above period of
times as the consumers. But, later dwindled as the global economic slowdown
since October 2008, followed by tight money policy imposed by Indonesian
Central Bank (Bank Indonesia) and also heated by political issue in the
country. The demand growth started to awake in June 2009 in line with the
amelioration of economic condition in the country. Market competition is very
tough on account of large number of other similar companies operating in the
country. P.T. CC business position in this case is not too badly because it has
built regular customers and extensive marketing network all across the country.
Imports of Raw Materials and Auxiliary Goods,
2007-2013
|
Year |
Food and Beverages Mainly for
Industry (Million US$) |
Raw Materials for Industry (Million US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
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|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
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2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
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2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
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2011 |
4,186.7 |
3,330.2 |
6,813.2 |
53.409.6 |
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2012 |
4,101.0 |
3,349.2 |
5,639.7 |
59,437.0 |
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2013 |
3,863,7 |
3,381,5 |
5,737.6 |
52,871.5 |
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Until this time
P.T. CC has not been registered with Indonesian Stock Exchange, so that they had
not obliged to announce their financial statement. The management of P.T. CC 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. 8.0 billion rose to Rp. 8.5 billion in 2012 increased to Rp.
9.2 billion in 2013 and projected to go on rising by at least 4% in 2014. The
operation in 2013 yielded an estimated net profit of at least Rp. 0.6 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. CC is led by Mr. Odet Sugiarto Dharmarakshita Oman Sumedha (69) a businessman
with experience in trading, import and distribution of specialty chemicals.
Daily activity he is assisted by Mrs. Ang Sioe Yien (51) and Mrs. Ang See Hwa
(47) 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. CENTAURUS CHEMICALS is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
|
1 |
Rs.99.09 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
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.