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Report No. : |
335624 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. MEDION FARMA JAYA |
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Registered Office : |
Jl. Babakan Ciparay
No. 282, Jamika, Bojong Loa Kaler, Bandung 40223, West Java |
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Country : |
Indonesia |
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Date of Incorporation : |
09.01.1978 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in producing and
marketing of pharmaceutical products, vitamins, vaccines, and poultry
equipments |
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No. of Employee : |
142 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Indonesia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 has seen a slowdown in growth since 2012, mostly due to the end of the commodities export boom. 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, a current account deficit, and unequal resource distribution among regions. President Joko WIDODO - elected in July 2014 - has emphasized maritime and other infrastructure development, and especially increased electric power capacity, since taking office. Fuel subsidies were almost completely removed in early 2015, a move which could help the government increase spending on its development priorities. Indonesia, with the nine other ASEAN members, will continue to move towards participation in the ASEAN Economic Community, though full implementation of economic integration will not be completed by the previously-set deadline of year-end 2015.
|
Source
: CIA |
Name of company :
P.T. MEDION FARMA
JAYA
Address :
Head
Office
Jl. Babakan Ciparay
No. 282
Jamika, Bojong Loa
Kaler
Bandung 40223, West
Java
Indonesia
Phones -
(62-22) 603 0612 (hunting)
F a x -
(62-22) 601 0859, 601 5625
Email - medion@bdg.centrin.net.id
Website - http://www.medionindonesia.com
Building Area - 3 storey
Office Space -
260 sq. meters
Region -
Commercial
Status -
Owned
Factory
Jl. Raya Batujajar
No. 29
Cimareme, Padalarang
Bandung 40522, West
Java
Indonesia
Phones -
(62-22) 686 6090
F a x -
(62-22) 686 6089
Land Area -
12,500 sq. meters
Office Space -
10,120 sq. meters
Region -
Commercial
Status -
Owned
Date of
Incorporation :
9 January 1978 as P.T. MEDION, changed its name to P.T. MEDION FARMA
JAYA on April 27, 1979.
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. Y.A. 5/215/11
Dated 23 May 1979
b. No. C2-4651.HT.01.04.TH.92
Dated 26 August 1992
c. No. C-06683.HT.01.04.TH.2004
Dated 17 March 2004
d. No. AHU-06466.AH.01.02.Tahun 2010
Dated 08 February 2010
e. No. AHU-AH.01.10-09280
Dated 16 April 2010
Company Status :
National Private Company
Permits by the
Government Department :
a. The
Department of Finance
NPWP No. 01.104.371.8-441.000
b. The
Department of Health
No. 2928/AA/SK/PAB/1978
Dated 12 May 1978
c. The
Department of Industry and Trade
TDP No. 10112400891
Dated 14 March 2006
Not available
Capital Structure
:
Authorized Capital - Rp.
15,000,000,000.-
Issued Capital - Rp.
15,000,000,000.-
Paid up Capital - Rp.
15,000,000,000.-
Shareholders/Owners
:
a. Mr. Drs. Jonas Jahja - Rp.
3,000,000,000.- (20.0%)
Address :
Jl. Nakula No. 42, RT.003/RW.001
Kel.
Pamoyanan, Kec. Cicendo
Bandung, West
Java
b. Mrs. Amalia Jonas - Rp. 2,100,000,000.- (14.0%)
Address :
Jl. Nakula No. 42, RT.003/RW.001
Kel.
Pamoyanan, Kec. Cicendo
Bandung, West
Java
c. Mrs. Ina Irena Jonas Jahja - Rp.
2,475,000,000.- (16.5%)
Address : Kebon Kalapa,
RT.02/RW.02
Desa Cimarema,
Kec. Ngamprah
Bandung, West
Java
d. Mr. Henry Jahja - Rp. 2,475,000,000.-
(16.5%)
Address : Kebon Kalapa,
RT.02/RW.02
Desa Cimarema,
Kec. Ngamprah
Bandung, West
Java
e. Ms. Melina Jonas -
Rp. 2,475,000,000.- (16.5%)
Address : Kebon Kalapa,
RT.02/RW.02
Desa Cimarema,
Kec. Ngamprah
Bandung, West Java
f. Ms. Elvina Jonas -
Rp. 2,475,000,000.- (16.5%)
Address : Kebon Kalapa,
RT.02/RW.02
Desa Cimarema,
Kec. Ngamprah
Bandung, West
Java
Lines of Business
:
Producing and Marketing of Pharmaceutical
Products, Vitamins, Vaccines, and poultry equipments.
Production
Capacity :
Not available
Total Investment :
a. Owned Capital - Rp.
15.0 billion
b. Loan Capital - Rp. 10.0 billion
c. Total Investment - Rp. 25.0
billion
Started Operation
:
1978
Brand Name :
MEDION
Technical
Assistance :
None
Number of Employee
:
142 persons
Marketing Area :
a. Domestic (Local) - 60%
b. Export -
40%
Main
Customers :
a.
Animal Breeders, especially chicken farmers
b.
Overseas buyer in Philippines, Malaysia, China, Myanmar, Nepal and Vietnam
c.
Distributor and Dealers of Veterinary Products in the country
d. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. Eka Farma
b. P.T. Tekad Mandiri Citra
c. P.T. Univetama Dinamika
d. P.T. SHS International
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Bandung Branch
Jl. Asia Afrika No. 107
Bandung, West Java
Indonesia
b. P.T. Bank CENTRAL ASIA Tbk
Bandung Branch
Jl. Asia Afrika No. 122-124
Bandung, West Java
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales
(estimated) :
2011 – Rp. 115.0 billion
2012 – Rp. 130.0 billion
2013 – Rp. 148.0 billion
2014 – Rp. 162.0 billion
Net Profit
(estimated) :
2011 – Rp. 9.7 billion
2012 – Rp. 11.0 billion
2013 – Rp. 12.6 billion
2014 – Rp. 13.8 billion
Payment Manner :
Almost promptly
Financial Comments
:
Satisfactory
Board
of Management :
President Director - Mrs. Ina Irena Jonas Jahja
Board of Commissioner
:
President Commissioner -
Mr. Drs. Jonas Jahja
Commissioners -
a. Mrs. Amalia Jonas
b. Mr. Jip Peteryan
Signatories :
President
Director (Mrs. Ina Irena Jonas Jahja) which must be approved by the Board of
Commissioners (Mr. Drs. Jonas Jahja, Mrs.
Amalia Jonas or Mr. Jip Peteryan)
Management
Capability :
Satisfactory
Business
Morality :
Satisfactory
Originally named P.T. MEDION, it was
established on January 9, 1978 with an authorized capital of Rp 10,000,000.- of
which Rp 2,000,000.- was issued and paid up. The initial founding shareholders are
Mr. Drs. Jonas Jahja and Mr. Theodore Maengkom, both are Indonesian businessmen
of Chinese extraction. The Deed of
establishment was approved by the Minister of Justice of the Republic of
Indonesia through its Decree No. Y.A. 5/215/11 dated May 23, 1979. The articles of association of the company
have frequently been changed. On April
27, 1979 the company renamed to P.T. MEDION FARMA JAYA (P.T. MEJ) but daily
known as P.T. MEDION. In December 1991,
the authorized capital was raised to Rp 750,000,000.- of which Rp 250,000,000.-
was issued and fully paid up.
Concurrently, Mr. Theodore Maengkom pulled out and the whole shares are
sold to Mrs. Amalia Jonas (wife of Mr. Jonas Jahja). In June 1999, the authorized capital was
raised again to Rp. 1,500,000,000.- entirely was issued and fully paid up.
The most recently by notarial Deed No. 317
dated December 11, 2009 drawn up by Jeny Suherman, SH., the authorized capital
was raised again to Rp 15,000,000,000.- entirely was issued and fully paid
up. Since that time, the shareholders of
the company are Mr. Drs. Jonas Jahja, his wife Mrs. Amalia Jonas and his sons
and daughters. The capital structures and shareholder composition of P.T. CAS in details
are as shown on page-3 of this report. The amendment to deed has been approved by the Minister of Law and Human
Rights of the Republic of Indonesia through its Decree No.
AHU-06466.AH.01.02.Tahun 2010 dated February 8, 2010 and No. AHU-AH.01.10-09280
dated April 16, 2010.
Since then, no changes have been effected in term of its shareholding
composition and capital structure to date.
P.T. MEDION has been in operation since 1978
in producing and marketing of veterinary pharmaceutical products, vitamins,
vaccines and poultry equipment. Its plant
located at Jalan Raya Batu Jajar, Cimareme, Padalarang, Bandung, West Java, 150
km south of Jakarta. Mr. Jonas Jahja, a pharmacist, pioneered this business
since 1969. With his knowledge, he produced a few pharmaceutical product for
chickens that were well distributed to several cities in Indonesia. Because of its high quality products and
reliable distribution network system, by 1986 P.T. MEDION has become one of the
leading companies in Indonesia specializing in veterinary products.
The Company’s infrastructure facility was
built conforming to location and industrial building requirements and was
equipped with modern technology machinery.
All production processes conform to GMP (Good manufacturing Practice) and
the quality control processes conform to the local and international standards,
such as Indonesian Pharmacopeias, United State Pharmacopeias, British
Pharmacopeias and European Pharmacopeias.
The main production
of P.T. MEDION
composed of Biological,
Pharmaceutical and Poultry Equipments, as
described below:
1. Biological
P.T.
MEDION uses SPF eggs to ensure the produced vaccine is sterile. All products
have been tasted in our laboratories (vacuum, sterile, purity, and security)
and field trial on livestock.
Name and regulations for products use are established by country and some
product might not be approved for use in every country.
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Active |
Inactivated |
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2.
harmaceutical
P.T.
MEDION produces various pharmaceutical products, such as anthelmintic,
antibacterial, antiparasite, antiprotozoa, disinfectant, premix, etc. All
products have been tested for stability, potential, and security.
Name and regulations for products use are established by country and some
product might not be approved for use in every country.
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Antianemia |
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Antibacterial |
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Antihelminthic |
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Antiprotozoa |
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Disinfectant |
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Others |
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Premix |
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Vitamin |
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1.
Poultry Equipments
To
yield high quality products, P.T. MEDION uses precise blow machine and injection
machine. The Company’s products are feeders, water feeders, egg trays, and
heaters. Each product was designed by considering ease of use and
effectiveness. They are made of environment friendly materials. All products
have been tested for durability to ensure they can be use for a long period of
time.
Name and regulations for products use are established by country and some
product might not be approved for use in every country.
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By 1998, PT MEDION has started to establish
its overseas subsidiaries in Asian countries such as Philippines, Malaysia, and
China. PT MEDION has also appointed
local distributors in Myanmar, Nepal, and Vietnam to distribute and market the products.
With its wide experience and expertise in the areas of animal health industry,
PT MEDION aims to export and distribute its various products while at the same
time provides extensive technical support to consumers through the locally
appointed representatives in each region.
Consumers are encouraged to conduct trials in their own farms. During
trials, consumers may be able to not only observe and evaluate the quality of
the products directly in the field but also learn to use the products in the most
effective ways with the guidance of the company’s regional representatives.
We observed that the business position of
P.T. MEDION is favorable for it has controlled a wide marketing network at home
and abroad and their product has been widely known among consumers in the
country.
Until this time P.T. MEDION has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. The management of P.T. MEDION is very reclusive towards outsiders
and rejected to disclose its financial condition. We estimated that total sales
turnover of the company in 2012 amounted to Rp. 130.0 billion increased to Rp.
148.0 billion in 2013 and rose again to Rp. 162.0 billion in 2014 and projected
to go on rising by at least 8% in 2015.
The operation in 2014 yielded an estimated net profit of Rp. 13.8
billion and the company has an estimated total net worth of at least Rp. 85.0
billion. So far, we did not heard that
the company having been black listed by the Central Bank (Bank Indonesia). Besides, the company usually pays its debts
punctually to suppliers.
The Company’s management of P.T. MEDION is
led by Mrs. Ina Irena Jonas Jahja (46) a businesswoman with more than about 16
years experience in producing and distribution of veterinary pharmaceutical
products. But the prime-mover of the company is her father Mr. Drs. Jonas Jahja
(70), a pharmacist and pioneered this business since 1969. The company's management is also handled by
professional staffs 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. MEDION FARMA JAYA or P.T. MEDION is
sufficiently fairly good for business transaction. However, in view of the
economic condition in the country is still unstable, we recommend to treat
prudently in extending any new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
UK Pound |
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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.