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Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
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Name : |
P.T. KARYA
MANDIRI GLOBALINDO |
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Registered Office : |
Komplek Rukan Gading Kirana Block A-10 No. 16, Jalan Gading
Kirana Timur IX, Kelapa Gading Barat, Kelapa Gading, |
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Country : |
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Date of Incorporation : |
25.04.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Authorized Distributor of Mechanical and Instrumentation
Products |
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No of Employees : |
23 |
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
|
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 |
|
Moderate High Risk |
C1 |
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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 |
P.T. KARYA MANDIRI GLOBALINDO
Address :
Head
Office
Komplek Rukan Gading Kirana Block A-10 No. 16
Jalan Gading Kirana Timur IX
Kelapa Gading Barat, Kelapa Gading
Jakarta Utara, 14240
Indonesia
Phones -
(62-21) 2961 6040, 2961 6041
Fax - (62-21) 4584 0745
E-mail - info@ptkmg.co.id
Website - http://www.ptkmg.co.id
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
25 April 2008
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
No. AHU-38154.AH.01.01.TH.2008
Dated 4 July 2008
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. 300,000,000.-
Issued Capital : Rp.
100,000,000.-
Paid up Capital : Rp.
100,000,000.-
Shareholders/Owners :
a. Mr. Aan
Stefanus Poh -
Rp. 75,000,000.-
Address :
Apartemen Mediterania Boulevard NW/19/AC
RT. 008 RW. 001, Kelurahan
Kemayoran,
Kecamatan Kemayoran,
Jakarta Pusat
Indonesia
b. Mr. Nur Muhamad - Rp. 25,000,000.-
Address : Jl. Slamet Riady Lorong Bubut No. 346, RT. 016
RW. 006, Kelurahan 10 Ilir,
Kecamatan Ilir
Timur II, Palembang, South
Sumatera
Indonesia
BUSINESS ACTIVITIES
|
Lines of Business :
Trading and Authorized Distributor of Mechanical and Instrumentation
Products
Production Capacity :
None
Total Investment :
None
Started Operation :
June 2008
Brand Name :
Karya Mandiri Global
Technical Assistance :
None
Number of Employee :
23 persons
Marketing Area :
Local - 100%
Main Customer :
Oil and Gas Industries, Petrochemical Industries, Power Plant and others
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ADI MECHA KONTEKINDO
b. P.T. KOTA MINYAK INTERNUSA
c. P.T. MULTI SUPERINDO MANUNGGAL
d. P.T. SINAR SAKTI JAYA UTAMA
e. P.T. WIJAYA MANDIRI PERKASA
Business Trend :
Growing
BANKER, AUDITOR &
LITIGATION
|
Bankers :
a. P.T. Bank CENTRAL ASIA
Tbk
Jalan Raya
Angkasa No. 20 I-J
Jakarta
Pusat
Indonesia
b. P.T. Bank MANDIRI Tbk
Jalan Senen
Raya No. 135
Jakarta
Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
|
Annual Sales (estimated) :
2011 – Rp. 13.8 billion
2012 – Rp. 14.6 billion
2013 – Rp. 15.5 billion
Net Profit (estimated) :
2011 – Rp. 828 million
2012 – Rp. 876 million
2013 – Rp. 961 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY EXECUTIVES
|
Board of Management :
Director - Mr. Aan Stefanus Poh
Board of Commissioners :
Commissioner - Mr. Nur Muhamad
Signatories :
Director (Mr. Aan Stefanus Poh) which
must be approved by Board of Commissioner
CAPABILITIES
|
Management Capability :
Satisfactory
Business Morality :
Satisfactory
OVERALL PERFORMANCE
|
Based on investigation results through address at MGK Kemayoran Lt. UK
Block A-17, Jalan Angkasa Kav. B-6, Kemayoran, Jakarta Pusat is not occupied by
the Subject company. Previously the Subject registered office of the above
address, however since the end 2013 the Subject office had been moved to
Komplek Rukan Gading Kirana Block A-10 No. 16, Kelapa Gading Barat, Kelapa
Gading, Jakarta Utara.
P.T. KARYA MANDIRI GLOBALINDO (P.T. KMG) was established in Jakarta
based on notary deed Mr. Henry Santoso, SH., no. 08 dated 25 April 2008 with
the authorized capital of Rp. 300,000,000 issued capital of Rp. 100,000,000
entirely paid up. The founding and shareholders of the company are Mr. Aan
Stefanus Poh (75%) an Indonesian businessmen of Chinese descent and Mr. Nur
Muhamad (25%) an indigenous businessmen. Based on our knowledge up to writing
the report the notary deeds 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-38154.AH.01.01.TH.2008 dated July 4,
2008.
P.T. KMG has been operating since June 2008 engaged in the field of
trading, agent and authorized distributor of mechanical and instrumentation products
for industrial process and control systems. The merchandise good products are
extreme temperatures, high pressure, abrasive particulates, acidic products,
heavy solids build-up, critical plant safety, large pressure differentials,
velocity control, noise control, accelerometers, vibration modular systems,
vibration meter kits, switch connection & junction boxes, cable accessories
& connectors, mounting studs & magnets, and others. The whole products
imports from various countries with various brands among others are MPGAS
Severe Service Ball Valves and DYNISCO Melt Pressure and Temperature Transducer
both are of USA; TRACERCO and HANSFORD Vibration Monitoring and Sensors both
are of United Kingdom.
P.T. KMG has been committed to assist the related industry in the
procurement of any Instrumentation and/or Mechanical products for the
industrial process and control systems. The company not only provides the
process instrumentation products, control systems, manual valves and/or
valve-automation at competitive pricing but also furnish the engineering
services for the products supplied as well as product training since our
company is fully supported by the worldwide leading manufacturers we are
representing in Indonesia. Process productivity enhancement, product quality
assurance and minimized total life cycle costs are top priorities for the
company. P.T. KMG is an authorized Agent of MOGAS Severe Services Ball Valves,
TRACERCO Nucleonic Gauges for Level, Density, and Interface Measurement,
DYNISCO Pressure and Temperature Measurement, HANSFORD Vibration Monitoring
Sensors, and OMC Control Valves and Pneumatic products.
The whole products supplied to various industrial sectors among others
are petrochemical/fertilizer industries, power plant, EPC contracting, oil and
gas industries, pulp & paper and others. The customers are P.T. Chandra
Asri Petrochemical Centre Tbk, P.T. Sulfindo Adiusaha, P.T. Lotte Chemical,
P.T. Trans Pacific Petrochemical Indotama, P.T. Amoco Mitsui PTA, P.T. Asahimas
Chemical, P.T. PUSRI, P.T. Pupuk Kaltim, P.T. Pupuk Kujang, P.T. Indonesia
Power, P.T. PJB Paiton, P.T. Krakatau Daya Listrk, P.T. Dian Swastika Sentosa,
Chiyoda Engineering, P.T. IKPT, JGC, P.T. Nisconi, P.T. Sempec Indonesia, P.T.
Technip Indonesia, P.T. Singgar Mulia, P.T. Truba Jaya Engineering, P.T.
Tripata Contractors and Construction, P.T. Rekayasa Industri, P.T. Punj Lloyd
Indonesia, P.T. Krakatau Engineering, Amerada Hess, BP, Chevron Makassar, CNNOC
Ses BV, P.T. Chevron Pacific Indonesia, VICO and others. We observe the
operation of P.T. KMG has been growing and developing well in the last three
years.
The demand for oil and gas equipment has been growing slowly in the last
five years. The new investments in oil and gas exploration tended to decline
within the above period. Generally we find the demand for directional drilling,
mud logging, measurement while drilling services, offshore survey services like
geophysics and seismic has been fluctuating within the last five years, in line
with the growth of oil & natural gas industries in the country. It is
projected that the demand will keep going up in five years to come. The outlook
for the country's oil and gas sector is becoming increasingly uncertain. We
forecast the long-term decline in total liquids production and a stagnation of
gas production. This is mainly a result of the slow pace of exploration and
development, exacerbated by an increasingly uncertain regulatory environment as
resource nationalism creeps into the government's policy towards the sector. Opportunities
for exports will be further compromised by the domestic market's increasing
energy demand. Hence, falling oil and gas exports is another key trend we
identify for Indonesian oil and gas. The main trends and developments we
highlight for Indonesia's oil and gas sector are:
We forecast that oil and gas reserves will most likely be on a downward
trend in the coming decade: oil reserves are expected to decrease from an
estimate of 4.0 bn barrels (bbl) of oil at the beginning of 2013 to 3.7 bn bbl in
2017, falling further still to 3.4 bn bbl by 2022.
For gas, we expect reserves levels to be stagnant as addition from
exploration successes in East Kalimantan cancels out natural depletion from
existing fields. Reserves are forecast to fall from 3.07 tcm in 2013 to 2.80
tcm in 2017, and fall further to 2.51 tcm unless the pace of drilling activity
picks up. The oil and gas industry makes a huge contribution to the Indonesian
economy, providing energy and products that stimulate economic and social development.
In addition to their core products and services, oil and gas companies and
associated service industries also contribute to economic development by
building capacity, using and developing local content, providing employment,
investing in training and education, and introducing new technologies. Investor
interest in exploration and production in Indonesia remains high, and there
have been significant increases in new Production Sharing Contracts and in the
number of new projects currently underway and or being planned. Current
hydrocarbon reserves in Indonesia's tertiary sedimentary basins are estimated
at 8.4 billion barrels of oil and 164.9 trillion cubic feet of gas.
Until this time P.T. MKG has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. MKG 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. 13.8 billion rose to Rp. 14.6 billion in 2012
increased to Rp. 15.5 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. 961 million and the company has an estimated total networth of at least Rp.
1.5 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. MKG is led by Mr. Aan Stefanus Poh (44) a
businessman with experience in trading, supply, agent and authorized
distributor of mechanical and instrumentation products for industrial process
and control systems. 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. KARYA MANDIRI
GLOBAL is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.78.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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 |
|
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 |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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.