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Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. LIKA DAYATAMA |
|
|
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Registered Office : |
Komplek Ruko Puri Mutiara Blok A No. 110-111, Sunter Agung Distict, Tanjung Priok, Jakarta Utara 14350 |
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Country : |
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Date of Incorporation : |
29.01.2003 |
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Com. Reg. No.: |
No. AHU-AH.01.10-08123 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export-Import and Distribution of
Agricultural Products |
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No. of Employees : |
45 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 : |
Slow but correct |
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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 |
|
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.
LIKA DAYATAMA
A d d r e s s :
Head Office
Previous address:
Komplek Griya Inti Sentosa
Blok N3 No. 42
Jalan Griya Agung Sunter Podomoro
Jakarta 14350
Indonesia
Phones -
(62-21) 8098343, 6404122
Fax. - (62-21) 6404121
New address
Komplek Ruko Puri Mutiara Blok
A No. 110-111
Sunter Agung Distict, Tanjung Priok
Jakarta Utara 14350
Indonesia
Phones -
(62-21) 6583 5001, 6583 5002
Fax. - (62-21) 6583 7666
Building Area - 3 storey
Office Space - 210 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
29 January 2003
Legal Form :
P.T. (Perseroan Terbatas)
or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. AHU-28177.AH.01.02.Tahun 2009
Dated 24 June 2006
b. No. AHU-34455.AH.01.02.Tahun 2009
Dated 22 July 2009
c. No. AHU-AH.01.10-08123
Dated 06 April 2010
Company Status :
National Private Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. 02.238.691.6-046.000
Not available
Capital Structure
:
Authorized Capital - Rp. 1,000,000,000.-
Issued Capital - Rp. 500,000,000.-
Paid up Capital - Rp. 500,000,000.-
Shareholders/Owners
:
a.
Mr. Andy Purnawijaya Then - Rp. 300,000,000.- (60%)
Address : Jl.
Ps Glodok Selatan No. 7
RT.03/RW.01, Glodok
Jakarta Barat
b. Mr. Ivan - Rp.
200,000,000.- (40%)
Address :
Jl. Sukapura I No. 3
RT.02/RW.01, Sukapura, Kejaksan
Cirebon, West Java
Lines of Business
:
Trading, Export-Import and Distribution of
Agricultural Products
Production
Capacity :
None
Total Investment :
a. Owned Capital - Rp. 2.5 billion
b. Loan Capital - Rp. 0 billion
c. Total Investment - Rp. 2.5
billion
Started Operation
:
June 2003
Brand Name :
None
Technical
Assistance :
None
Number of Employee
:
45 persons
Marketing Area :
a. Local - 60%
b. Export - 40%
Main Customers :
a. Traditional markets in Jakarta and its surroundings
b. Supermarkets and Hypermarkets
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ALAM INDORAMA
b. C.V. BUMI DJAJA
c. P.T. ADI SAMPOERNO
d. C.V. PUTRA NUSA
e. C.V. SUMBER BUMI JAYA
f. C.V. ARSAM PRATAMA
g. C.V. MUKTI JABAR
h. C.V. PRIMATAMA
i. Etc.
Business Trend :
Fluctuating
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jl. Enggano No. 22-23
Tanjung Priok, Jakarta Utara
Indonesia
b. P.T. Bank MANDIRI Tbk
Jl. Enggano No. 42-42B
Tanjung Priok, Jakarta Utara
Indonesia
c. P.T. Bank NUSANTARA PARAHYANGAN
Jl. K.H Wahid Hasyim No. 171
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total
Income/Revenues (estimated) :
2009 – Rp. 15.2 billion
2010 – Rp. 16.9 billion
2011 – Rp. 20.0 billion
2012 – Rp. 18.5 billion
2013 – Rp. 22.0 billion
Net Profit (Loss)
:
2009 – Rp. 1.0 billion
2010 – Rp. 1.1 billion
2011 – Rp. 1.3 billion
2012 – Rp. 1.2 billion
2013 – Rp. 1.4 billion
Payment Manner :
Average
Financial Comments
:
Satisfactory
Board of
Management :
Director - Mr. Andy Purnawijaya Then
Operational Manager -
Mr. Yusuf Taufik
Board of
Commissioners :
President
Commissioner - Mr. William Tjugiarto
Commissioners - a. Mr. Ivan
b. Mr. Ifan Effendy
Signatories
:
Director (Mr. Andy
Purnawijaya Then) or Operational Manager (Mr. Yusuf Taufik) which must be
approved by Board of Commissioners.
Management
Capability :
Good
Business Morality
:
Good
P.T.
LIKA DAYATAMA (P.T. LD) was established in Jakarta on January 29, 2003 with an
authorized capital of Rp. 1,000,000,000.- issued
capital of Rp. 500,000,000.- entirely paid up. The
founding shareholders are Mr. Akmal Apendra (60%) and Mr. Kusmanto
(40%), both are indigenous businessmen.
The Articles of Association has been approved by the Minister of Law and
Human Rights through Decision Letter No. C-04205 HT.01.01.TH.2003 dated
February 27, 2003. The Company’s article
of association has been amended for several times, and by notarial
deed of Musa Muamarta, SH.,
No. 14 dated June 9, 2009 concerning changes of the whole article of
association of the Company’s to conform with Law No. 40 Year 2007 concerning
Limited Liability Company. The notarial Deed has been approved by the
Minister of Law and Human Rights of the Republic of Indonesia through Decree
No. AHU-34455.AH.01.02.Tahun 2009 dated July 22, 2009.
Most recently by notarial deed of Nelson Eddy Tampubolon, SH., No. 39 dated February 20, 2010 the founding shareholders pulled out and the whole shares are sold to Mr. Andy Purnawijaya Then (60%) and Mr. Ivan (40%),both are Indonesian businessmen of Chinese extraction. The notarial Deed has been approved by the Minister of Law and Human Rights of the Republic of Indonesia through Decree No. AHU-AH.01.10-08123 dated April 6, 2010. No changes have been effected in term of its shareholding composition and capital structures to date.
P.T.
LD has been in operation since June 2003 in trading, import and distribution of
agricultural products. Mr. Irfan, an administrative staff of the company explained
that the whole agricultural products likes garlic, groundnut kernels, green mung beans, soya bean, shallots,
etc. are imported from China, India and Taiwan.
Then, the whole products supplied to traditional markets, supermarkets
and snack food industries in Jakarta and its surroundings. Beside, PT. LD also dealing with importing
services. To support its operation, P.T.
LD is in cooperation with severing shipping companies within and outside the
country. We notice that P.T. LD is
classified as a small-sized company of its kind in the country of which the
operation has been growing 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. LD to be in a quite favorable position for having
already got hold of a steady clientele in the Java and surroundings.
Until
this time P.T. LD has not been registered with Indonesian Stock Exchange, so
that they shall not obliged to announce their financial statement. P.T. LD’s
management is very reclusive to outsider and rejecting to disclose its
financial condition but we estimated the total sales turnover of the company in
2011 amounted of Rp. 20.0 billion declined to Rp. 18.5 billion in 2012 and rose again to Rp. 22.0 billion in 2013.
The operation in 2013 yielded an estimated net profit at least Rp. 1.4 billion and the company has an estimated total networth at Rp. 5.5 billion. So far we did not hear that the P.T. LD has
been black listed by Bank Indonesia (Central Bank) or having detrimental cases
being settled in local district court.
The company usually pays its debts punctually to suppliers.
Since
February 2010, the management of the company has been led by Mr. Andy Purnawijaya Then (52) as Director. In daily activities he is assisted by Mr. Yusuf Taufik (49) as Operational
Manger. The management, which is
evaluated quite creative and dynamic, also has succeeded in expanding their
overseas marketing network. We consider the management is quite capable of
further developing business in the future. They have close relations with many
high-ranking government officials as well as with private businessmen within
and outside the country. So far, we did not hear that the company’s management
involved in the business malpractices 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.
LIKA DAYATAMA is appraised good for business transaction. But owing to economic
condition in the country is still unstable, we recommend to treat prudently in
extending any new loan to the company.
Attachment:
Local Media Checks:
1) Horticulture
importers protest plan to shutdown Tj. Priok Port
Fri, 02/17/2012 - 09:06 In Horticulture
Importers of horticulture products protested the government’s plan to stop
fruit and vegetable import via the country’s main Tanjung
Priok Port.
Under the Ministry
of Agriculture regulation, which will become effective March 19, 2012, the
entry point for imported fruits and vegetables would be diverted to Tanjung Perak Port in Surabaya,
East Java.
Yusuf Taufik, Operational Manager of PT Lika
Dayatama, which imports about 30,000 tons of garlic
annually from China and Taiwan, was quoted by Kontan
on Friday as saying that the planned new policy would increase the cost of
importing garlic by 30-50 percent, which eventually would have to be shouldered
by consumers.
Other horticulture
product importers such as PT Putra Mandiri and PT Arif Rahman Persada also protested the
new policy. The East Java province administration has also opposed plan
to divert horticulture import entry point from Jakarta to Surabaya.
Under the new
policy, imported horticulture products would only be allowed to enter the
country via four entry points including the Tanjung Perak Port, Makassar Port, Belawan Port, and the Soekarno-Hatta
International Airport.
Meanwhile, Arifin Tasrif, Head of the Quarantine
Center at the Ministry of Agriculture, said that the government is currently
reviewing the plan to stop horticulture import via Tanjung
Priok. (rei)
2) Government
to auction 20 containers of garlic
The
Jakarta Post, Jakarta | Business | Tue, March 26 2013, 8:03 PM
The government
will auction off 20 containers of garlic with incomplete documentation, a
senior official says.
Trade Ministry
director general of foreign trade Bachrul Chairi said on Tuesday that 20 containers of garlic had not
met the horticultural products importation requirements (RIPH).
“So
we will be auctioning off those 20 containers,” he said as quoted by Antara news agency.
Bachrul said the Trade
Ministry had summoned 14 garlic importers and found that the three importers –
PT Lika Dayatama, PT Pentabiz International and PT Citra Gemini – had imported
garlic that exceeded the amount allocated per applicant.
Some other
importers, Bachrul said, had not obtained RIPH
documents when they conducted the importation. “They hoped they could obtain
RIPH documents by the time the imported garlic had arrived in Indonesia. What
they’ve done is try to anticipate the market,” he said.
Recently, around
500 containers could not be released from Tanjung Priok Port in Surabaya, East Java, due to incomplete
importation documentation, including RIPH and import permit letters (SPI).
The Trade Ministry
and Agriculture Ministry released 332 containers of garlic recently after the
importation documents required were finally issued by the relevant
institutions, partly to lower the price of garlic.
The price of
garlic has skyrocketed in the last several months. In February, garlic was
selling for Rp 25,964 (US$2.67) per kilogram in Kramat Jati market in Jakarta, up
from Rp 19,306 in January. The price of garlic
increased to Rp 60,000 per kilogram in March. (ebf).
Source: http://www.thejakartapost.com/news/2013/03/26/govt-auction-20-containers-garlic.html
3) KPPU
Fines 19 Companies For Cartel Practices
Posted by indocomnews
on March
25, 2014
Jakarta – One year has passed since the Indonesian Business Competition Supervisory Commission (KPPU) began investigating the price hikes of imported garlic. Early last year, garlic skyrocketed, even reaching Rp90,000 per kilogram. After three months of investigation, the KPPU concluded the existence of a garlic cartel and the case was brought to hearing in July 2013.
Yesterday, the Commission
delivered its verdict. Nineteen entrepreneurs are proven to have been involved
in cartel practices. The panel of judges sentenced the guilty parties with
fines amounting to Rp11 million to Rp921 million per company.
“These business entities
we legally and convincingly proven to have violated Article 19C and Article 24
of Law No.5/1999 on the prohibition of monopolistic practices and unfair
competition,” chief judge Sukarmi said.
Two government
officials, the Trade Minister and the Director General of Domestic Trade, were
only proven to have violated Article 24 of Law No.5/1999. “There are letters of
approvals submitted by businesses entities that were approved by the Trade
Ministry despite the lack of underlying legal basis,” said Sukarmi.
Meanwhile, the
judges found no evidence that inflicts the Ministry of Agriculture’s Quarantine
Agency, an institution touted to have been involved in the cartel practices.
Many of the
defendants were dissatisfied by the verdict. Yudi Handoyo, the attorney representing PT Sumber
Alam Jaya Perkasa and PT Tunas Sumber Rejeki, said they are “considering for an appeal,” he said.
Yudi denied the
verdict that the companies he represents have committed cartel practices
despite admitting that both companies hired the same party to handle their
trading paperwork.
A similar
sentiment was expressed by Tri Hartono, who
represents CV Mekar Jaya.
“It looks like we will file for an appeal,” he said.
None of the
government officials involved released a statement yet. “We are not able to
respond just yet. We will study [the result] first while waiting for a copy of
the verdict,” said Anu Mulyati,
PR chief of the Ministry of Trade.
Source:
http://indocomnews.wordpress.com/2014/03/25/kppu-fines-19-companies-for-cartel-practices/#respond
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
: |
DIV |
|
|
|
|
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 |
|
|
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.