|
Report No. : |
335620 |
|
Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PINDO DELI PULP AND PAPER MILLS |
|
|
|
|
Registered Office : |
Sinar Mas Land Plaza Menara 2, 9th Floor, Jalan M.H.Thamrin No. 51, Jakarta
Pusat, 10350 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
31.07.1975 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-32274 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Engaged dealing with Integrated Pulp and Paper Manufacturing · Engaged in Coating Paper (Paper/Cartoon Coated, Cast Coated Paper, Carton Manila & Ivory, Fancy Paper/Board), Uncoated Paper (Photocopy, Fancy Paper/Board/Cartoon Buffalo, Paper/Cartoon Buffalo) and Tissue Paper (Tissue and Litho Papers). · Engaged in Investment Holding |
|
|
|
|
No of Employees : |
11,113 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
P.T. PINDO DELI
PULP AND PAPER MILLS
Head Office
Sinar
Mas Land Plaza Menara 2, 9th Floor
Jalan M.H.Thamrin No. 51
Jakarta
Pusat, 10350
Indonesia
Phone -
(62-21) 3929001-3 (Hunting), 3929266, 3929267-69
Fax - (62-21) 3927685, 3162607
E-mail - info@asiapulppaper.com
Website -
http://www.asiapulppaper.com
Building Area - 28 storey
Office Space - 2,600 sq. meters
Region - Commercial
Status - Owned
Factories
a. Jalan Prof. Dr. Ir. H. Soetami No. 88
Kampung Teluk Jamer Johar
Karawang
West Java
Indonesia
Phone - (62-267) 402355, 402553
Fax -
(62-267) 405250, 402359
Land Area - 26,500 sq. meters
Building Space - 44,000 sq. meters
Region -
Industrial Zone
Status -
Owned
b. Jalan Kuta Mekar
Kec. Teluk Jambe
Karawang 41313
West Java
Indonesia
Phone - (62-761) 91039, 91088
Fax -
(62-761) 91373, 91376
Land Area - 19,500 sq. meters
Building Space - 45,000 sq. meters
Region -
Industrial Zone
Status - Owned
31 January 1975
P.T. (Perseroan Terbatas) or Limited Liability Company
The Ministry of
Laws and Human Rights
- No. Y.A.5/365/16
Dated 27 July 1976
- No. AHU-78587.AH.01.02.Tahun 2008
Dated 27 October 2008
- No. AHU-AH.01.10-03340
Dated 9 February 2010
- No. AHU-AH.01.10-30646
Dated 1 September 2011
- No. AHU-AH.01.10-32274
Dated 4 September 2012
Foreign Investment (PMA) Company
The Department of Finance
NPWP No. 01.001.855.4-092.000
No. B-246/Pres/10/1992
Dated 22 October 1992
The Capital Investment Coordinating Board
- No. 06/V/PMDN/1997
Dated 28 February 1997
- No. 597/III/PMDN/1997
Dated 3 December 1997
- No. 265/III/PMDN/1999
Dated 4 October 1999
- No. 80/III/PMDN/2001
Dated 3 May 2001
- No. 19/III/PMDN/2002
Dated 1 February 2002
- No. 83/II/PMDN/2006
Dated 1 September 2006
The Department of Industry and Trade
- SIUP No. 0716/PMDN/1982
Dated 16 April 1982
- No. 163/M/SK/5/86
Dated 10 May 1986
A Member Company of the SINAR MAS Group (see
attachment)
Capital Structure
:
Authorized Capital :
Rp. 8,000,000,000,000.-
Issued Capital :
Rp. 2,281,785,000,000.-
Paid up Capital :
Rp. 2,281,785,000,000.-
Shareholders/Owners
:
a.
P.T. PURINUSA EKAPERSADA of Indonesia -
Rp. 2,230,021,000,000.-
b.
P.T. MEGA KLEENINDO of Indonesia - Rp. 19,426,000,000.-
c. P.T. UNITAMA SARTINDO of Indonesia - Rp. 12,935,000,000.-
d.
P.T. MARIMBA NUGRAHATAMA of Indonesia -
Rp. 12,935,000,000.-
e.
P.T. INTRYANE SANTURA of Indonesia -
Rp. 6,468,000,000.-
Lines of Business :
· Engaged dealing with Integrated Pulp and Paper Manufacturing
· Engaged in Coating Paper (Paper/Cartoon Coated, Cast Coated Paper, Carton Manila & Ivory, Fancy Paper/Board), Uncoated Paper (Photocopy, Fancy Paper/Board/Cartoon Buffalo, Paper/Cartoon Buffalo) and Tissue Paper (Tissue and Litho Papers).
·
Engaged in Investment Holding
Production Capacity :
A. Initial Plant
a. Culturing (Writing & Printing) & Industrial Papers - 782,000 tons p.a.
b. Tissue Papers -
180,000 tons p.a.
c. Calcium Carbonates - 100,000 tons p.a.
d. Caustic Soda (NaOH) - 80,000 tons p.a.
e. Chlorine (C12) - 12,000 tons p.a.
f. Chloride Acids -
100,000 tons p.a.
g. Sodium Hypochloride - 12,000 tons p.a.
h. Corrugated Sheet/Box/Duplex Box -
100,000 tons p.a.
i. Packaging Papers - 6,000 tons p.a.
j. Bleaching Powder/High Strenght Hypochloride - 17,500 tons p.a.
k. Computer Papers -
150,000 tons p.a.
l. Book Covers - 10,000 tons p.a.
m. HVO Papers - 25,000 tons p.a.
n. Wrapping Papers - 10,000 tons p.a.
o. Paper Bags - 15,000 tons p.a.
q. File Holders - 15,000 tons p.a.
r. Gift Papers (Kado) - 25,000 tons p.a.
s. Self Adhesive Papers - 15,000 tons p.a.
t. Silicone Papers - 10,000 tons p.a.
u. Stationery/Converting - 25,000 tons p.a.
v. Writing Books - 75,000 tons p.a.
q. Cards - 10,000 tons p.a.
x. Calendars - 15,000 tons p.a.
y. Letter Pad - 10,000 tons p.a.
z. Spiral Books - 25,000 tons p.a.
ab. Special Papers - 15,000 tons p.a.
ac. Cover Notes - 15,000 tons p.a.
ad. Drawing Papers - 20,000 tons p.a.
ae. High Quality
Exercise Books - 75,000 tons p.a.
af. Diary - 30,000 tons p.a.
B. Expansion Plant (2006) Planned
Kawasan Industri Ngoro, East
Java (Factory)
Jumbo Roll and Tissue Paper
Converting -
1,100,000 tons p.a.
Makassar, South Sulawesi
(Factory)
Jumbo Roll and Tissue Paper
Converting -
1,100,000 tons p.a.
Total Investment :
A. Initial Plant
a. Equity Capital -
Rp. 2,131.8 billion
b. Loan Capital -
Rp. 5,733.0 billion
c. Total Investment -
Rp. 7,864.8 billion
B. Expansion Plant (2006) Planned
Kawasan Industri Ngoro, East
Java (Factory)
- Owned Capital - Rp. 1,805.6 billion
Makassar, South Sulawesi
(Factory)
- Owned Capital - Rp. 1,128.6 billion
Started Operation :
1977
Brand Name :
Bola Dunia, Anchor Brand, Betet, Clean Coated Board, Evergreen, Globe
Brand, Golden Art, etc
Technical Assistance
:
None
Number of Employee :
11,113 persons
Marketing Area :
Export - 40%
Local - 60%
Main Customers :
a. P.T. SURYA JAYA PALACE (Distributor)
b. P.T. PERMATA BIRU INDAH (Distributor)
c. P.T. SUTIO JAYATAMA (Distributor)
d. P.T. MARGONO (Distributor)
Market
Situation :
Very Competitive
Main
Competitors :
a. P.T. KERTAS LECES (Persero)
b. P.T. RIAU ANDALAN KERTAS
c. P.T. SUPARMA Tbk
d. P.T. SURABAYA AGUNG KERTAS
e. Etc.
Business
Trend :
Fluctuating
Bankers
:
a. P.T. Bank
INTERNATIONAL INDONESIA Tbk
Wisma BII
Jalan
M.H. Thamrin 50
Jakarta
Pusat
Indonesia
b. P.T. Bank CIMB NIAGA Tbk
Graha
Niaga
Jalan
Jend. Sudirman Kav. 58
Jakarta
Selatan
Indonesia
c. P.T. Bank
MANDIRI Tbk
Plaza Mandiri
Jalan
Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
d. CITIBANK N.A.
Landmark
Centre
Jalan
Jend. Sudirman No. 1
Jakarta
Pusat
Indonesia
e. P.T. Bank SINARMAS Tbk
Wisma Bank Sinarmas, 1st & 2nd Floor
Jalan M.H. Thamrin No. 51
Jakarta Pusat
Indonesia
Auditor
:
Tjiendradjaja & Handoko Tomo (Mazars)
Litigation
:
The Subject Company was involved in various claims
and disputes. (see Litigation and Claims)
Annual
Sales :
2009 – US$ 1,269.7 million
2010 – US$ 1,597.4 million
2011 – US$ 1,718.0 million
2012 – US$ 1,676.3 million
2013 – US$ 1,211.6 million (per 30 September)
Net
Profit :
2009 – US$
32.8 million
2010 – US$
85.6 million
2011 – US$
62.9 million
2012 – US$ 127.8 million
2013 – US$ 128.5 million (per 30 September)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President
Director - Mr.
Tsai Huan Chi
Vice President
Director - a. Mr.
Hendra Jaya Kosasih
b. Mrs. Indah Suryasari Wijaya Limantara
c. Mrs. Linda Suryasari Wijaya
Limantara
Directors - a.
Mr. Huang Hua Ching
b. Mr. Agustian Rachmansjah Partawidjaja
c. Mr. Kosim Sutiono
d. Mr. Frenky Loa
e. Mr. Suhendra Wiriadinata
f. Mr.
Yen Tao Chung
Board of Commissioners :
President
Commissioner - Mr. Yudi
Setiawan Lim
Commissioners - a. Mr. Arthur
Tahya
b. Mr. Drs. John Ferdinand Pandelaki
c. Mr. Ir. Gandi Sulistiyanto Soeherman
d. Mr. Letjend. TNI (Retired) Soetedjo
e. Mr. Drs. Pande Putu Raka, MA
Signatories :
President Director (Mr. Tsai Huan Chi) or one of
Vice President Directors (Mr. Hendra Jaya Kosasih, Mrs. Indah S.W. Limantara,
Mrs. Linda S.W. Limantara) or one of the Directors (Mr. Huang Hua Ching, Mr.
Agustian Rachmansjah Partawidjaja, Mr. Kosim Sutiono, Mr. Frenky Loa, Mr.
Suhendra Wiriadinata or Mr. Yen Tao Chung) which must be approved by the Board of Commissioners.
Management Capability :
Good
Business Morality :
Good
P.T. PINDO DELI PULP AND PAPER MILLS (P.T. PDPPM) was
established in January 1975 with an authorized capital of Rp. 400,000,000
entirely issued and paid-up. The original founding shareholders of the company
are Mr. Rudy Wirianata AKA Ng Kheng Ho, his younger brother Mr. Sanusi
Wirianata AKA Tan Tjin. They are Chinese origins Indonesia entrepreneurs. The
company notary deed has been changed a couple of times. In February 1994, the
authorized capital was raised to Rp. 100,000,000,000 issued and paid up capital
to Rp. 20,000,000,000 and all shareholders have concurrently resigned and
replaced by new shareholders P.T. KARYANTARA PRAKARSA of Indonesia and
SOLIDCLASS INVESTMENTS, Ltd., of Hong Kong. The company was then converted into
a foreign investment (PMA) status.
In December 1994, the authorized capital was raised again
to Rp. 500,000,000,000 issued and paid-up capital to Rp. 158,000,000,000.
Concurrently SOLIDCLASS INVESTMENT Ltd., withdrew and replaced by ASIA PULP
& PAPER COMPANY Ltd., of Singapore. In October 1996, the authorized capital
increased to Rp. 2,600,000,000,000 issued capital to Rp. 661,785,000,000 fully
paid-up. Concurrently, ASIA PULP & PAPER COMPANY LTD., of Singapore, pulled
out and P.T. PURINUSA EKAPERSADA of Indonesia entered as new shareholder and as
the same occasion. In early of 1999, the authorized capital of company was
increased to Rp. 8,000,000,000,000 issued capital to Rp. 2,131,785,000,000
entirely paid up. Then in January 2010 the issued capital was increased to Rp.
2,281,785,000,000 entirely paid up.
Then according to the latest revision of notary documents
Mrs. Linda Herawaty, SH., No. 12 dated 7 August 2012 the composition of it’s
shareholders are P.T. PURINUSA EKAPERSADA (97.73%), P.T. MEGA KLEENINDO
(0.85%), P.T. MERIMBA NUGRATAMA (0.57%), P.T. UNITAMA SARTINDO (0.57%) and P.T.
UNITRYANE SANTURA (0.28%). The deed of amendments was approved by the Ministry
of Law and Human Rights in its decision letter No. AHU-AH.01.10-32274 dated
September 4, 2012.
It seems that P.T. PURINUSA EKAPERADA is a private national
company of which majority shares is controlled by Mr. Eka Tjipta Widjaja AKA
Oei Ek Tjong and his family members. P.T. PDPPM is a member of the SINAR MAS
Group, once over been as a large business group in the country.
P.T. PDPPM originally obtained a Foreign Investment (PMA)
license for dealing with integrated pulp and paper manufacturing. The company
started with operation in 1977 originally running a plant located at Jalan
Prof. Dr. Ir. H. Soetami No. 88, Teluk Jambe, Karawang (West Java) standing on
44.0 hectares land. The plant has been expanded for increasing total capacity.
In October 1995, P.T. PDPPM again expanded (Pindo 2) located in Desa Kuta
Mekar, Kerawang (West Java) standing on 450 hectares land. The above expansion
is including coating paper (paper/cartoon coated, cast coated paper, carton
manila & ivory, fancy paper/board), uncoated paper (Photocopy, fancy
paper/board/cartoon buffalo, paper/cartoon buffalo) and tissue paper (tissue
and litho papers). In September 2006, P.T. PDPPM got an expansion permit to
increase production capacity. The expansion plants will be located at Kawasan
Industri Ngoro Persada, Mojokerto, East Java with an investment of Rp. 1,805.6
billion and the other plant will be located at Makassar, South Sulawesi with an
investment of Rp. 1,128.6 billion. The above expansion plants will be produces
of jumbo roll and tissue papers converting. However the above expansion plant
has yet been operating up to present.
Around 60% products are distributed domestically by using
Bola Dunia, Golden Star and Globe brands (photocopy paper), Golden Coin and
Golden Art (art paper/cast coated) and the rest is exported to South Korea, the
People’s Republic of China, India, Belgium and Turkey. For the marketing of the
above products, P.T. PDPPM appointed a number of local companies as its
distributors among others are P.T. SURYA JAYA PALACE, P.T. PERMATA BIRU INDAH,
and P.T. SUTIO JAYATAMA for Jakarta region, P.T. MARGONO for Semarang (Central
Java) and others spreading several Indonesian major cities. In July 1996, P.T.
PDPPM obtained an ISO 9002, for management and quality accreditation issued by
SGS Yarsley International Certification Services Limited of the UK. We observed
that P.T. PDPPM is classified as a large sized company in the country dealing
with integrated pulp and paper industry of which the operation has been running
smoothly in the last five years.
Besides that, P.T. PDPPM is also engaged in investment
holding by direct ownership 99.83% shares of P.T. LONTAR PAPYRUS PULP &
PAPER INDUSTRY engaged in pulp and cultural paper making industry; 100% shares
of PINDO DELI FINANC B.V. (Financing Services); 94.84% shares of P.T. KARAWANG
EKAWANA NUGRAHA (Investment Holding); 100% shares of EXCEL INTERNATIONAL Ltd.,
(Investment) and 100% shares PINDO DELI FINANCE MAURITIUS Ltd. (Financing).
Besides, P.T. PDPPM also holds minority interest 35.29% shares of P.T. OKI PULP
& PAPER MILLS in pulp & paper industry; 11.01% shares of P.T. ONWARD
PAPER UTAMA and 11.85% shares of P.T. ONWARD PAPER CONNVERTING both are dealing
with paper industries.
P.T. PINDO DELI PULP AND PAPER MILLS Ownership
|
Name of Company |
Lines of Business |
Percentage of Ownership (%) |
|
Direct Ownership |
|
|
|
P.T. LONTAR PAPYRUS
PULP & PAPER |
Pulp and Paper |
99.83 |
|
PINDO DELI FINANCE,
BV. |
Financing Services |
100.00 |
|
P.T. KARAWANG
EKAWANA NUGRAHA |
Investment Holding |
94.84 |
|
EXCEL INTERNATIONAL
LIMITED |
Investment |
100.00 |
|
PINDO DELI FINANCE
Mauritius Limited |
Financing |
100.00 |
|
P.T. OKI PULP &
PAPER MILLA |
Pulp and Paper Industry |
35.29 |
|
P.T. ONWARD PAPER
UTAMA |
Paper Industries |
11.01 |
|
P.T. ONWARD PAPER
CONVERTING |
Paper Industries |
11.85 |
|
Indirect Ownership (through P.T. KARAWANG EKAWANA
NUGRAHA |
Total Asset (USD) |
Percentage of Ownership (%) |
|
P.T. Persada
Kharisma Perdana |
27,303 |
99.99 |
|
P.T. Parvatakencana
Asri |
23,167 |
99.99 |
|
P.T. Paramacipta
Intinusa |
19,232 |
99.99 |
|
P.T. Sentra
Karyamas Serasi |
13,438 |
99.99 |
|
P.T. Pravesa
Grahamas |
13,026 |
99.99 |
|
P.T. Persadanusa
Makmurindo |
13,534 |
99.99 |
|
P.T. Setiabuana
Jayadharma |
12,348 |
99.99 |
|
P.T. Karyamas
Primalestari |
12,192 |
99.99 |
|
P.T. Primakarya
Timurmas |
13,218 |
99.99 |
Source: P.T. Pindo
Deli Pulp And Paper Mills
The national pulp and paper industries will be better in
2013 than in 2012. Market estimates of production and sales will be the norm.
Additional capacity will continue price of pulp is still going up although with
a slower rise in pulp price increases triggered by the low stock of pulp due to
the hard efforts of pulp mills to reduce production, to balance the
supply-demand, and the purchase of pulp on a large scale by China also
triggered a rise in pulp prices. Ir. H. M. Mansur, Chairman of the Presidium APKI
(Association of Indonesian Pulp and Paper) said the increased price of paper is
not as big and as fast as the price of pulp, because the factories are not as
intensive as paper pulp mills to reduce production, so that the paper stock in
the world market is still quite great. Indonesia's pulp paper does not seem
necessary to limit and reduce production because production will be absorbed by
the market-domestic and export markets. Global crisis appears to have started
over, things would be normal, production, consumption and prices will rise
again. Indonesia has very good potential to be leader in the global pulp and
paper industry due to its geographical location.
Indonesian Pulp and Paper Production, 2007 – 2013
(Tons)
|
Year |
Pulp Production |
Paper Production |
|
2007 |
5,200,000 |
11,000,000 |
|
2008 |
5,900,000 |
9,7000,000 |
|
2009 |
6,500,000 |
12,200,000 |
|
2010 |
7,900,000 |
12,900,000 |
|
2011 |
7,900,000 |
12,900,000 |
|
2012 |
8,216,000 |
13,416,000 |
|
2013 |
7,900,000 |
14,420,000 |
According to financial report audited by a public
accountant the total sales turnover of P.T. PDPPM in 2008 amounted to US$
1,316.0 million with a net profit of US$ 67.3 million declined to US$ 1,269.7
million with a net profit of US$ 32.8 million in 2009 to US$ 1,597.4 million
with a net profit of US$ 85.6 million in 2010 increased to US$ 1,718.0 million
with a net profit of US$ 63.0 million in 2011 and decreased to US$ 1,676.3
million with a net profit of US$ 127.8 million in 2012. As per 30 September 2013
the sales turnover amounted at US$ 1,211.5 million with a net profit of US$
128.5 million. It is projected the sales turnover will be rising by at least 4%
in 2014. Financial statement as of 31 December 2010, 2011, 2012 and as per 30
September 2013 is attached. So far we did not heard that P.T. PDPPM having been
black listed by Bank Indonesia (Central Bank).
Litigations and
Claims
On or about September 10, 2008, the Defendants, OAKTREE
and certain of its affiliates reached an agreement for a full and final
settlement of all litigation and disputes outstanding between them, including
in Indonesia, New York, California and Singapore. Following the settlement
above, on or about April 2, 2009, GREMERCY ADVISORS (GRAMERY PARTIES) and the
Defendants agreed to a full and final global resolution of all litigation and
disputes outstanding, including in the respective jurisdiction listed above.
With respect to the proceedings in New York and California, the original
Plaintiffs have transferred their interests in relations to such proceedings
(to the extent they have such interests) to other companies.
The management is headed by Mr. Tsai Huan Chi (59) as
President Director, a citizen of the Republic of China (R.O.C.), born in Taiwan
on October 25, 1955. He started his career in Jek Hsiang Machinery, Taiwan. He
served as a Director of PT. Pabrik Kertas Tjiwi Kimia Tbk (2002-2003) and has
been a Vice President Director of the Company (2003-2006). He was appointed as
a President Director of the Company on January 2006. The management of the
company is very experienced in the paper and pulp industry. They have very wide
relations with local and overseas business groups. They also have cultivated
close relations with many high-ranking officials of government institutions in
Jakarta, West Java, Riau and other provinces of Indonesia. We observed that
management’s reputation in said business is fairly good. So far, we did not
hear that the company’s management involved in a business malpractice or
detrimental cases that settled in the country. P.T. PINDO DELI PULP AND PAPER
MILLS is sufficiently fairly good for business transaction.
Attachment 1:
PT. PINDO DELI
PULP AND PAPER MILLS and Subsidiaries
FINANCIAL
STATEMENTS
Per 31 December
2010, 2011, 2012 and 30 September 2013
(In Thousand of US$)
|
DESCRIPTION |
30 September
2013 |
31 December |
||
|
2012 |
2011 |
2010 |
||
|
A. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Cash Available |
98.256 |
86.138 |
89.471 |
91.169 |
|
- Trade Receivable |
|
|
|
|
|
* Third Parties |
80.641 |
110.104 |
86.755 |
125.448 |
|
* Related
Parties |
72.121 |
24.652 |
29.999 |
72.603 |
|
- Other Receivable |
6.524 |
7.774 |
2.200 |
2.440 |
|
- Inventories |
365.726 |
326.683 |
331.757 |
291.775 |
|
- Advance Purchases |
54.136 |
39.445 |
40.328 |
20.666 |
|
- Prepaid Taxes |
22.654 |
12.460 |
10.347 |
27.894 |
|
-
Prepaid Expenses |
38.310 |
15.926 |
41.602 |
36.864 |
|
- Other Current Assets |
523.177 |
732.833 |
591.100 |
278.600 |
|
Total Current Assets |
1.261.545 |
1.356.015 |
1.223.559 |
947.664 |
|
b. Non Current Assets |
|
|
|
|
|
- Due from related parties |
109.070 |
103.353 |
104.375 |
103.323 |
|
- Guarantee for long-term purchase |
76.576 |
76.576 |
76.576 |
76.576 |
|
- Investment in Associated Companies |
32.361 |
17 |
17 |
17 |
|
- Fixed Asset-Net |
2.040.837 |
2.074.789 |
2.024.073 |
2.048.552 |
|
- Other Assets |
374.482 |
231.577 |
243.172 |
170.292 |
|
Total Non Current
Assets |
2.633.326 |
2.486.312 |
2.448.213 |
2.398.760 |
|
TOTAL LIABILITIES TOTAL ASSETS = &
STOCKHOLDERS’
EQUITY |
3.894.871 |
3.842.327 |
3.671.772 |
3.346.424 |
|
B. LIABILITIES &
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Short-Term Loan |
722.358 |
673.312 |
523.604 |
251.345 |
|
- Trade Liabilities |
|
|
|
|
|
* Third Parties |
72.840 |
68.207 |
70.196 |
90.633 |
|
* Related
Parties |
33.333 |
41.571 |
162.557 |
134.781 |
|
- Tax payables |
3.308 |
10.334 |
10.155 |
6.662 |
|
- Accrued Expenses |
37.038 |
74.896 |
61.981 |
81.345 |
|
- Advance from customers |
108.088 |
105.619 |
82.026 |
27.273 |
|
- Other Liabilities |
19.311 |
23.121 |
16.294 |
14.162 |
|
- Current Maturity of Long Term Loans |
328.923 |
305.994 |
523.634 |
577.532 |
|
Total Current
Liabilities |
1.325.199 |
1.303.054 |
1.450.447 |
1.183.733 |
|
b. Non Current Liabilities |
|
|
|
|
|
- Due to Related Parties |
25.462 |
23.274 |
27.847 |
19.288 |
|
-
Deferred Tax Liabilities |
101.504 |
117.580 |
121.322 |
118.827 |
|
- Negative Goodwill |
- |
- |
- |
5.564 |
|
- Provision for Employee Benefit |
35.310 |
38.341 |
35.634 |
31.695 |
|
- Long Term Liabilities |
1.709.390 |
1.767.664 |
1.789.569 |
1.285.195 |
|
Total Non Current
Liabilities |
1.542.743 |
1.640.865 |
1.450.738 |
1.460.569 |
|
c. Total Liabilities |
2.867.942 |
2.943.919 |
2.901.185 |
2.468.000 |
|
d.
Minority Interest |
- |
- |
- |
945 |
|
e. Stockholders Equity |
|
|
|
|
|
- Issued and Paid Up Capital |
807.275 |
807.275 |
807.275 |
807.275 |
|
- Additional in Paid Capital |
52.436 |
52.436 |
52.436 |
52.436 |
|
- Retained Earnings (Deficit) |
1.025.926 |
897.519 |
769.532 |
(158.534) |
|
Total Equity |
1.026.929 |
898.408 |
770.587 |
701.177 |
|
C. INCOME STATEMENTS |
|
|
|
|
|
a. Sales – Net |
1.211.580 |
1.676.354 |
1.718.018 |
1.597.458 |
|
b. Cost of Goods Sold |
(980.538) |
(1.342.087) |
(1.401.115) |
(1.269.189) |
|
c. Gross Profit |
231.042 |
334.267 |
316.903 |
328.269 |
|
d. Operating Expenses |
(119.299) |
(167.104) |
(179.376) |
(146.270) |
|
e. Operating Profit |
111.743 |
167.163 |
137.527 |
181.999 |
|
f. Other Income (Expenses) |
738 |
(28.328) |
(56.569) |
(58.486) |
|
g. Profit before Income Tax |
112.481 |
138.835 |
80.956 |
123.513 |
|
h. Income Tax |
(16.040) |
(11.014) |
(18.057) |
(37.707) |
|
i.
Net Profit |
128.521 |
127.821 |
62.901 |
85.627 |
Note: 31 December 2010, 2011 and 2012 audited by
Tjiendradjaja & Handoko Tomo (MAZARS)
30 September 2013 un audited
List
of the SINAR MAS Group Members
1. ABHIPRAYA INSAN PERKASA, P.T. (Sugar Refinery)
2. ABSINARMAS
MULTIFINANCE, P.T. (Financing Services)
3. AGROCARB
INDONESIA, P.T. (Pesticide Formulation)
4. ALAM
INDAH INDO MAKMUR, P.T. (Trading and Mixed Fertilizer Processing)
5. ALPHA
TANJUNG TANGKI, P.T. Perusahaan Bongkar Muat (Stevedoring Services)
6. ANEKA
SARAKINDO, P.T. (Investment Holding)
7. ARARA
ABADI, P.T. (Forestry and Peat Mining)
8. ARGO
INTIM RESPATI, P.T. (Oil Palm Plantation and Palm Oil Processing)
9. ARGO
PANCA MODERN, P.T. (Oil Palm Plantation and Palm Oil Processing
10. ARGOPURO,
P.T. (Land Transportation)
11. ARTA
CUPU KENCANA MONEY CHANGER, P.T. (Money Changer)
12. ASIA
PULP & PAPER CO., LTD. (Investment Holding)
13. ASIA
TRADE LOGISTICS (International Freight Forwarder)
14. ASIAN
DEVELOPMENT SECURITIES, P.T. (Brokerage and Underwriter Activities)
15. ASIANINDO
UNITRADA, P.T. (Softdrink Industry)
16. ASPIRASI
LUHUR, P.T. (Investment Holding)
17. BERSAMA
SEJAHTERA SAKTI, P.T. (Oil Palm Plantation and Palm Oil Processing)
18. BHAKTI
BERSAMA MAKMUR, P.T. (Soybean Flour Milling and Soybean Based Cooking Oil
Management)
19. BHAKTI
BERSAMA SEJAHTERA, P.T. (Soybean Flour Milling and Soybean Based Cooking Oil
Refinery)
20. BII
COMMONDEALTH Bank, P.T. (Banking)
21. BII
FINANCE CENTER, P.T. (Multi Financing Services)
22. BII
LEND LEASE INVESTMENT SERVICES, P.T. (Financing and Securities Services)
23. BII
FINANCE (Hong Kong) Co., Ltd. (Merchant Banking, Centre Management)
24. BINA
SINAR AMITY, P.T. (Warehouse Container Management and Freight Forwarder)
25. BINA
SINAR UTAMA, P.T. (Container Transportation and Document Handling Services)
26. BONO
CORPORATION INTERNATIONAL LTD. Hong Kong (Property Management)
27. BORNEO
PULP & PAPER SDN. BHD., Malaysia (Pulp and Paper Manufacturing and
Industrial Forestation)
28. BUANA
EKA GANDA, P.T. (Industrial Estate Management)
29. BUANA
WIRALESTARI, P.T. (Oil Palm Plantation and Palm Oil Refinery)
30. BUMIMAS
MEGAHPRIMA, P.T. (Shopping Centre and Apartments Development and Management)
31. BUMI
PERMAI LESTARI, P.T. (Oil Palm Plantation and Palm Oil Processing)
32. BUMI
SAWIT PERMAI, P.T. (Oilpalm Plantation and Palm Oil Refinery)
33. BUMI
SERPONG DAMAI, P.T. (Real Estate Development)
34. BUMI
SHANGRIL LA JAYA, P.T. (Real Estate Development)
35. CAHAYA ANEKA KIMIA PERKASA, P.T. (Trading)
36. CAHAYA
INTI PERKASA, P.T. (Palm Kernel Oil Extraction and Palm Kernel Palletizing)
37. CAHAYA
LESTARI SANTOSA, P.T. (Housing Development)
38. CAHAYA
MAS JAYA, P.T. (Real Estate Development)
39. CAHAYA
MAS, P.T. (Trading)
40. CENDRAGO
UTAMA, P.T. (Oil Palm Plantation and Palm Oil Processing)
41. CHINA
STRATEBIC INVESTMENT CORPORATION (Investment Holding)
42. CHIP
LIAN (Pte) Ltd. Singapore (Trading and Investment Holding)
43. CHIP
LIAN INVESTMENT (the USA) Inc., Property Management and Investment)
44. CISCO
MAS SECURITAMA, P.T. (Commodities Transportation Security)
45. CITRA
PERMATA SAKTI PERSADA, P.T. (Real Estate Development and Driving License
Services)
46. CITRA
SIMAS ARTHA, P.T. (Management Information System Services)
47. COLVEX
JAYA, P.T. (Palm Oil Plantation and Processing Plant)
48. CREDIT
LYONNAIS INDONESIA, P.T. Bank (Banking)
49. CULINDO,
P.T. (Pig Farming)
50. DADI
CORPORATION N.V. (Trading)
51. DAIRYVILLE,
P.T. (Ice Cream Manufacturing)
52. DAYANETWORK
LESTARI, P.T. (Financing Services)
53. DAYA
SINAR MAS, P.T. (Woodworking)
54. DHAI
SIN, (Pte) Co., Ltd. Singapore (Trading)
55. DIAN
TARUNAGUNA, P.T. (Trading and Distribution of Cosmetic Products)
56. DJAKARTA
1945, P.T. Maskapai Asuransi (Sea and Fire Insurance)
57. DJUANDASAWIT
LESTARI, P.T. (Integrated Palm oil Refinery)
58. DUTA
DHARMA BHAKTI, P.T. (Low Cost Housing Development)
59. DUTA
PERTIWI Tbk., P.T. (Properties Development and Management; Investment Holding)
60. DWIMAS
INTIWISESA, P.T. (Financing Services)
61. EKA
LIFE, P.T. Asuransi Jiwa (Life Insurance Service)
62. EKAMAS
FORTUNA, P.T. (Corrugated Medium Paper Making Manufacturing)
63. EKO
RAYON, P.T. (Viscose Rayon, Staple Fibre and Pulp Rayon Manufacturing)
64. ELANG
PERMATA, P.T. (General Contracting and Telecommunication Development)
65. ERIHATU,
P.T. (Logging)
66. ESA SINAR PERKASA, P.T. (Trading)
67. EXCOMM
REMAJA, P.T. (Trading and Investment Holding)
68. FERRO
MAS DINAMIKA, P.T. (Ceramic and Enamel Frits Industry)
69. FINDECO
JAYA, P.T. (Alkyl Benzene Sulfonate Processing)
70. FILMA,
P.T. (Coconut Oil Based Cooking Oil Refinery)
71. FORESTALESTARI
DWIKARYA, P.T. (Integrated Palm Oil Refinery)
72. FUJI
INTERNATIONAL INDONESIA, P.T. Bank (Banking)
73. GAJAH
PERDANA INDAH, P.T. (Housing Development)
74. GELORA
MUDA PERKASA, P.T. (Palm Kernel Oil Extraction and Palm Kernel Meal Processing)
75. GEMA
KREASI, P.T. (Real Estate Management)
76. GLOBAL AGRONUSA INDONESIA, P.T. (Banana Plantation)
77. GOLDEN
AMCOL Pte. Ltd. (Manufacturing of Electronics, Electrical Household Appliances,
Electrical Equipment, Lighting Equipment, Property Development and Investment
Holding)
78. GRAHAMAS
INDOJAYA, P.T. (Transportation)
79. GREEN
WINDHU LINES, P.T. (Special Shipping)
80. GRIYAMAS
ADIPRATAMA, P.T. (Real Estate and Developer)
81. GUNUNG
MAS RAYA, P.T. (Rubber and Oil Palm Plantation)
82. HADEKA
FEEDMILL, P.T. (Animal Feed Milling)
83. HARAPAN
ANANG BAKRI & SON'S, P.T. (Industrial Estate Development and Management)
84. HARMONI
MAS, P.T. (Housing Development)
85. HARMONI
SEJAHTERA, P.T. (Housing Development)
86. HASTA
BUANA MANDIRI, P.T. (Trading)
87. HASTA
DHARMA KARYA, P.T. (General Contracting and Trading)
88. HENKEL
INDONESIA, P.T. (Industrial Chemical Processing)
89. HERCULES
MAS INDONESIA, P.T. (Industrial Chemical Processing)
90. HIAP
CHUN TIMBER (Pte) Ltd. (Trading)
91. HONGKONG
UNION BANK CO., LTD. (Banking)
92. HONGZHOU
ZHONGCE RUBBER CO., LTD. (Manufacturing of Motorcar Tubes and Tyres and Rubber
Components)
93. HORIGUCHI
ENGINEERING INDONESIA, P.T. (Machinery and Heavy Equipment Maintaining
Services)
94. IBI
FAR EAST (Hong Kong) Co., Ltd. (Property and Securities)
95. INDAH
KIAT PULP & PAPER Tbk., P.T. (Integrated Paper Making and Pulp Processing)
96. INDOJAYA
MARKONRAD, P.T. (Trading)
97. INDRI
PLANT, P.T. (Oil Palm Plantation)
98. INDOMILK, P.T. (Milk Processing)
99. INTERCIPTA KIMIA PRATAMA, P.T. (Paper Chemicals
Processing)
100. INTERMAS
TATA TRADING, P.T. (Distribution of Cooking Oils)
101. INTERNATIONAL
INDONESIA, P.T. Bank (Banking)
102. INTERNATIONAL
MONEY CHANGER, C.V. (Money Changer)
103. INTERNATIONAL
NINGBO Bank (China), (Banking)
104. INTI
GERAKMAJU, P.T. (Oil Palm and Coconut Plantation)
105. INTITAMA
MAS, P.T. (Cold Rolled Stainless Steel Coils/Sheets Manufacturing)
106. ISTANA
MUTIARA MAS, P.T. (Liquid Tanker Shipping)
107. IVOMAS
TRADING, P.T. (Trading and Suppliers)
108. IVO
MAS TUNGGAL, P.T. (Palm Oil Based Cooking Oil Refinery and Oil Palm Plantation)
109. JAGOTAMA
INDAH RATTAN INDUSTRIES, P.T. (Rattan Furniture Manufacturing)
110. JATI
CAHAYA EMERLANG PLYWOOD, P.T. (Integrated Woodbased Industry)
111. JATI
DHARMA INDAH PLYWOOD INDUSTRIES, P.T. (Integrated Woodbased Industry)
112. JATI
MALUKU TIMBER, P.T. (Logging, Sawmilling and Shipping)
113. JATI
MULIA SEMESTA, P.T. (Plywood Industry)
114. JU
LIE (Pte) Co. Ltd. Singapore (Trading)
115. KALI
BESAR RAYA UTAMA, P.T. (Insurance Brokerage Services)
116. KARTIKA
INTI PERKASA, P.T. (Palm Plantation)
117. KARYA
DUNIA MAKMUR, P.T. Perusahaan Bongkar Muat (Stevedoring Services)
118. KARAWANG
TATABINA INDUSTRIAL ESTATE, P.T. (Industrial Estate Management and Development)
119. KELAPA
MURNI, P.T. (Coconut Oil Refinery)
120. KEMAKMURAN
TANITERNA INDONESIA, P.T. (Integrated Poultry Farming)
121. KERTAS
INDAH, P.T. (Trading)
122. KOPO
PERMAI, P.T. (Housing Development)
123. KRAWANG
BUKIT GOLF, P.T. (Golf Course and Real Estate Management)
124. KRESNA
DUTA AGROINDO, P.T. (Oil Palm Plantation and Refinery)
125. LEIDONG
KREASITAMA, P.T. Maskapai Perkebunan (Oilpalm Plantation and Palm Oil Refinery)
126. LAHAN TANI SAKTI, P.T. (Oil Palm Plantation)
127. LANGGENG
KREASITAMA, P.T. (Adhesive Glue Manufacturing)
128. LLOYD
INDONESIA, P.T. (Sea and Fire Insurance)
129. LONTAR
PAPYRUS PULP & PAPER INDUSTRY, P.T. (Pulp and Paper Industry, Industrial
Chemical Processing)
130. MAKINDO
PERKASA, P.T. (Industrial Power Engine Agent and Distribution)
131. MALIGI
PERMATA INDUSTRIAL ESTATE, P.T. (Industrial Park Development and Management)
132. MAKTO
JAYA, P.T. (Trading)
133. MARGA
TULUS ENTERPRISE LTD., P.T. (Leasing)
134. MARISON
NUSANTARA AGENCY, P.T. (Investment Holding)
135. MASKAPAI
PERKEBUNAN LEIDONG WEST INDONESIA, P.T. (Oil Palm Plantation)
136. MEDISON
SECURITIES LTD. Hong Kong (Property and
Security)
137. MEGAH
UTAMA MOTOR, P.T. (Car Distribution)
138. MENARA
MAJU, P.T. (Trading and Distributor)
139. MITRA
ADIGUNA SENTOSA, P.T. (Printing & Corrugated Packaging Manufacturing)
140. MITRABANGUN
ADIGRAHA, P.T. (Contracting Services)
141. MITRA
NUGRAHA, P.T. (Plastic Container Manufacturing)
142. MULTIMAS
DINAMIKA, P.T. (Ceramic Goods Manufacturing)
143. MURINI
TIMBER, P.T. (Woodbased Industry)
144. MUSTIKA
ARTA MAS, P.T. (Investment Holding)
145. MUTIGUNA
PERKASA INDONUSA, P.T. (Trading)
146. NALA
VINI EKA BEVERAGES, P.T. (Carbonated Softdrink Industry)
147. NILAM
TERANG OFFSET PRINTING, P.T. (Graphic Printing and Fire Packaging)
148. NINGBO
INTERNATIONAL BANK LTD. (Banking)
149. NINGBO
PULP AND PAPER CO., LTD. (Pulp and Paper Manufacturing, Corrugated Carton Box
Making and Packaging)
150. NUMBING
JAYA, P.T. (Oil Palm Plantation)
151. NUSA
PIRANTI RIANA, P.T. (Industrial Chemical Manufacturing and Trading)
152. ONWARD
PAPER CORPORATION, P.T. (Sanitary Napkin and Tissue Paper Manufacturing)
153. ORIENTAL
INDAH BALI HOTEL, P.T. (Hotelry)
154. OTO
MULTIARTHA, P.T. (Consumer Finance Services)
155. PAKUAN
REAL ESTATE, P.T. (Real Estate Development)
156. PALMINDO
RAYA, P.T. (Oil Palm Plantation and Palm Oil Processing)
157. PANGERAN
PLAZA UTAMA, P.T. (Real Estate Development)
158. PARAGA
ARTAMIDA, P.T. (Investment Holding)
159. PERBAWA
DUTA PERSADA, P.T. (Trading)
160. PERWITA
MARGASAKTI, P.T. (Real Estate Development)
161. PETRO
CENTRAL, P.T. (Industrial Chemical Processing)
162. PILINTI
PERKASA ALAM, P.T. (Oil Palm Plantation and Palm Oil Refinery)
163. PINDO
DELI, P.T. (Paper Making)
164. PLAZA
INDONESIA REALTY, P.T. (Hotel, Shopping Centre and Recreation Centre
Management)
165. PONDOK
CANDRA INDAH, P.T. (Housing Development)
166. PONDOK
NIRWANA, P.T. (Housing Development)
167. PRIMA
VIJAYA INDAH TOUR, P.T. (Tour and Travel Agency)
168. PRODUKSI
INDONESIA, P.T. (Marketing Promotion Services)
169. PULO
GEBANG INDAH, P.T. (Housing Development)
170. PURINUSA
EKAPERSADA, P.T. (Carton Packaging Manufacturing and Investment Holding)
171. PURIMAS SASMITA, P.T (Banana Porridge Processing)
172. PURNAMALA
INTERNATIONAL INDONESIA, P.T. Asuransi Jiwa (Life Insurance)
173. PUSAKA
MAKMUR ABADI, P.T. Perusahaan Bongkar Muat (Stevedoring Services)
174. PUTRAMAS
PRIMA PERKASA, P.T. (Investment Holding)
175. RAMAJA
PRAMUKTI, P.T. (Oil Palm Plantation and Processing)
176. REKSA
ARTHA MUSTIKA, P.T. (Integrated Poultry Farming and Food Crop Plantation)
177. RIMBA TUNGGAL PERKASA, P.T. (Cocoa Plantation)
178. RIVERA
HOLDINGS (Hong Kong) Ltd., (Property Management and Investment Holding)
179. ROLIMEX
CORPORATION, P.T. (General Trading)
180. ROYAL
ORIENTAL LTD., P.T. (Office Block Owner and Rental Management)
181. SADANG
MAS, P.T. (Investment Holding)
182. SARANAPAPAN
EKASEJATI, P.T. (Real Estate Development)
183. SARPINDO
SOYABEAN, P.T. (Soybean Flour Milling and Plantation)
184. SATRIA
PERKASA AGUNG, P.T. (Investment Holding)
185. SATYA
KISMA UTAMA, P.T. (Oil Palm Plantation)
186. SAWIT
MALINDA, P.T. (Palm Oil Refinery and Oil Palm Plantation)
187. SAWIT
MAS SEJAHTERA, P.T. (Oil Palm Plantation and Processing, Investment Holding)
188. SAYANG
HEULANG, P.T. (Palm Oil Based Cooking Oil Refinery)
189. SEMBADA
KRIYA PRIMA, P.T. (Trading)
190. SERIKAT
PUTRA, P.T. (Oil Palm Plantation)
191. SIANTAN
SHIPPING, P.T. (Interinsulair Shopping)
192. SIANTAN
WINDHU, P.T., (Freight Forwarding)
193. SINAR CULINDO PERKASA, P.T. (Pig Farming)
194. SINAR
DAYA MARINA, P.T. (Investment Holding & Fishing)
195. SINAR
DUNIA MAKMUR, P.T. (Industrial Paper Manufacturing)
196. SINAR
DUNIA THIRTA KIMIA, P.T. (Industrial Chemical Processing)
197. SINAR
KENCANA INTI PERKASA, P.T. (Oil Palm Plantation and Processing)
198. SINAR
KILAT BUANA, P.T. (Investment Holding)
199. SINAR
LUCKY PLASTICS INDUSTRY, P.T. (Pipes and Plastic Hoses Industry)
200. SINAR
MAS, P.T. (Investment Holding)
201. SINAR
MAS AGRO RESOURCES AND TECHNOLOGY CORPORATION (SMART CORPORATION), P.T. (Oil
Palm Plantation and Palm Oil Refinery)
202. SINAR
MAS CIPTA, P.T. Asuransi Kerugian (Sea and Fire Insurance)
203. SINAR MAS EKA GRAHA, P.T. (Security)
204. SINAR
MAS GRIYA, P.T. (Housing Development and Investment Holding)
205. SINAR
MAS MULTIARTHA, P.T. (Financing, Treasury Management & Investment Holding)
206. SINARMAS
MULTIFINANCE, P.T. (Financing)
207. SINAR
MAS TELADAN, P.T. (Palm Oil Based Cooking Oil Refinery and Real Estate
Development)
208. SINAR
MAS TUNGGAL, P.T. (Investment Holding and Trading)
209. SINAR
MAS WISESA, P.T. (Real Estate Development and Management)
210. SINAR
MEADOW INTERNATIONAL INDONESIA, P.T. (Fat and Food Products Processing)
211. SINAR
OBOR MAS, P.T. (Coconut Oil Based Cooking Oil Refinery)
212. SINAR
OLEOCHEMICAL INTERNATIONAL, P.T. (Fatty Acid and Glycerin Manufacturing)
213. SINAR
PUREFOODS INTERNATIONAL, P.T. (Marine Product Processing and Canning)
214. SINAR
SYNO KIMIA, P.T. (Industrial Chemical Manufacturing)
215. SINARSURYA
LAND, P.T. (Luxury Apartment Development and Management)
216. SINARTAMA
GUNITA, P.T. (Commodity Future Trading Services)
217. SINARWIJAYA
EKAPRATISTA, P.T. (Real Estate and Property Management)
218. SINAR WISATA LESTARI, P.T. (Hotelry)
219. SINDOPEX
FEROTAMA, P.T. (Hydrogen Peroxides Manufacturing)
220. SINGGA
RIMBA MAKMUR, P.T. Perusahaan Bongkar Muat (Stevedoring Services)
221. SMART
CORPORATION Tbk. P.T. (Integrated Palm Oil Refinery and Investment Holding)
222. SMARTINDO
BLUEBIRD SNACKS, P.T. (Snack Foods Industry)
223. SPININDO
MITRADAYA, P.T. (Industrial Estate Development and Management, Investment
Holding)
224. SUKMA
SUCI KENCANA MONEY CHANGER, P.T. (Money Changer)
225. SUMBER
INDAHPERKASA, P.T. (Integrated Oil Palm Plantation)
226. SUMMIT
SINARMAS FINANCE, P.T. (Financial Institution)
227. SUPRA
VERITAS, P.T. (Investment Holding and Trading)
228. SURYA
MITRA SEJATI, P.T. (White Carbon & Water Glass Industry and Investment
Holding)
229. SURYA
SUKMA MAS MONEY CHANGER, P.T. (Money Changer)
230. SUPER
KAOLINDO PERDANA, P.T. (Kaolin Mining and Processing)
231. SWADAYA
BHAKTI NEGARA, P.T. (Palm Kernel Oil Extraction and Palm Kernel Meal
Processing)
232. TAI
SANG LAND DEVELOPMENT CO., LTD., Hong Kong (Property and Real Estate
Development)
233. TAN ENG (Pte) Ltd., (Trading)
234. TAPIAN
NADENGGAN, P.T. (Palm Oil Refinery and Oil Palm Plantation)
235. THE
UNIVENUS COMPANY, P.T. (Manufacturing of Tissue Paper, Toilet Paper and
Sanitary Napkins and Napkin Paper)
236. TIMUR
AGRO KARYA, P.T. (Oil Palm Plantation and Palm Oil Processing)
237. TJIWI
KIMIA Tbk., P.T. Pabrik Kertas (Cultural and Industrial Paper Manufacturing)
238. TOMSON
PACIFIC (Hong Kong) Ltd., (Property Management)
239. TUNGGAL
MITRA PLANTATION, P.T. (Oil Palm Plantation)
240. TUNGGAL
PERKA CORPORATION, P.T. (Industrial Chemical Processing)
241. UNGGUL
INDAH CORPORATION, P.T. (Industrial Chemical Processing)
242. UNI-CHARM
INDONESIA, P.T. (Sanitary Napkin Industry)
243. UNITED
WARU BISCUIT MANUFACTORY, P.T. (Biscuit and Dry Cookies Processing)
244. USAHA
MANGGAR, P.T. (Coconut Oil Based Cooking Oil Refinery)
245. VIVA
KARYAWISATA, P.T. (Hotelry Restaurant and Recreation Centre Management)
246. WANA KRIDA UTAMA, P.T. (Logging)
247. WASTUNIDYA
UTAMA, P.T. (Soybean Flour Milling and Soybean Based Cooking Refinery)
248. WENANG
PERMAI, P.T. (General Contracting and Housing Development)
249. WENANG
SAKTI, P.T. (Wood Working)
250. WESTERN
OCEANIC BANK (Banking)
251. WIDJAJA
PERMAI, P.T. (Real Estate Development and Management)
252. WIDJAJA
PRATAMA RAYA, P.T. (Real Estate Development and Management)
253. WIRAKARYA
SAKTI, P.T. (Wood Working)
254. ZETA
ANEKA KIMIA, P.T. (Sole Agent and Distributor)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
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.