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Report No. : |
356047 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T.
PRISEL GIUGA SINERGI |
|
|
|
|
Registered Office : |
Perum
Griya Nusantara No. A. 05 Jalan Transyogi
Nagrag, Gunung Putri Bogor,
16967 West Java |
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|
|
|
Country : |
Indonesia |
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|
|
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Date of Incorporation : |
02.12.2010 |
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|
|
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Com. Reg. No.: |
AHU-59636.AH.01.01.TH.2010 |
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|
|
|
Legal Form : |
P.T. (Perseroan Terbatas) or Limited
Liability Company |
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|
|
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Line of Business : |
Trading and Distribution of Food Additives. |
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|
|
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No. of Employee : |
7 persons |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
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|
|
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
P.T. PRISEL GIUGA SINERGI
ADDRESS
Head Office
Perum Griya Nusantara No. A. 05
Jalan Transyogi
Nagrag, Gunung Putri
Phone - (62-21) 8248 2224
Fax - (62-21) 8248 2207
Building Area - 1 storey
Office Space - 100 sq. meters
Region - Housing Complex
Status - Rent
Date of Incorporation :
2 December 2010
Legal Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No. :
The
Ministry of Law and Human Rights
No. AHU-59636.AH.01.01.TH.2010
Dated 22 December 2010
Company Status :
Private National Company
Permit by the Government Department :
The
Department of Finance
Not Available
Related Company :
None
CAPITAL
AND OWNERSHIP
|
Capital Structure :
Authorized Capital : Rp. 450,000,000.-
Issued Capital : Rp. 450,000,000.-
Paid up Capital : Rp. 450,000,000.-
Shareholders/Owners :
a.
Mr. Khoe Shin Hwa -
Rp. 405,000,000.-
Address : Kampung Menceng, RT. 005 RW. 006
Kelurahan Tegal Alur, Kecamatan
Kalideres
b.
Mrs. Khoe Suen Hoa -
Rp. 45,000,000.-
Address : Kampung Menceng, RT. 005 RW. 006
Kelurahan Tegal Alur, Kecamatan
Kalideres
BUSINESS
ACTIVITIES
|
Lines of Business :
Trading and Distribution of Food Additives
Production Capacity :
None
Total Investment :
None
Started Operation :
2011
Brand Name :
Prisel Giuga Sinergi
Technical Assistance :
None
Number of Employee :
7 persons
Marketing Area :
Local - 100%
Main Customer :
Food and Beverages Processing
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ABADIKIMIA INTERNUSA
b. P.T. BRATACO
c. P.T. CHEMIFIN JAYA UTAMA
d. P.T. ROHA LAUTAN PEWARNA
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
|
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Raya Transyogi Km. 3
Perumahan Kota Wisata
Cibubur,
b. P.T.
Bank MANDIRI Tbk
Kota Wisata Ruko Sentra Eropa Block A No.
6
Perumahan Kota Wisata
Jalan Tranyogi Km. 6
Cibubur,
West
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
|
Annual Sales (estimated) :
2012 – Rp. 6.2 billion
2013 – Rp. 6.9 billion
2014 – Rp. 7.5 billion
Net Profit (estimated) :
2012 – Rp. 372 million
2013 – Rp. 420 million
2014 – Rp. 450 million
Payment Manner :
Average
Financial Comments :
Satisfactory
KEY
EXECUTIVES
|
Board
of Management :
Director - Mr. Khoe Shin Hwa
Board
of Commissioners :
Commissioner - Mrs. Khoe
Suen Hoa
Signatories
:
Director (Mr. Khoe Shin Hwa) which must
be approved by Board of Commissioner
CAPABILITIES
|
Management
Capability :
Satisfactory
Business
Morality :
Satisfactory
OVERALL
PERFORMANCE
|
P.T. PRISEL GIUGA SINERGI
(P.T. PGS) was incorporated in Cibubur, Gunung Putri, Bogor, West Java based on
notary deed of Mrs. Viva Prihatina, SH., No. 01 dated 2 December 2010 with the
authorized capital of Rp. 450,000,000 wholly issued and paid up. The founding
shareholders of the company are Mr. Khoe Shin Hwa (90%) and his wife Mrs. Khoe
Suen Hoa (10%), both are Indonesian business family of Chinese descent. Based
on our knowledge up to writing the report the notary documents of the company
have not undergone any changes. The company notary deed was approved by the
Ministry of Law and Human Rights in its decision letter No.
AHU-59636.AH.01.01.TH.2010 dated December 22, 2010.
P.T. PGS is a
private national company operating since 2011 engaged in the field of trading,
import and distribution of food additives. P.T. PGS sells all type of pigment for foods,
sugar boiled confectionery, soft drink, cattle food, meat, seafood, dairy
products & bakery, etc. The types of food additive are flavor, essence, food colours
and others.
Food Additive is a substance / mixture
of ingredients that are naturally
not part of the
raw materials of food, but
added to food to
affect the nature or form of food,
such as dyes, preservatives,
flavors, anti-clot, and thickeners.
Food additive is a material that is not consumed directly as food and not a food raw material, and the
addition to the food is intended to
alter the properties of foods such as shape,
texture, color, flavor,
aroma, to preserve
or to facilitate processing. Mr. Andree,
accounting staff of the company said, after operating since 2011, the company
has imported food additive wholly from
We note that generally the demand for food chemicals was
rising by some 10% - 12% per year in the last five years in line with the
growth of food processing industries as the consumers. But since the end of
2008 the demand has been falling under the impact of the global economic crisis
in the worldwide. The crisis has badly hurt various industrial sectors,
particularly those relying on imports for their basic materials or feedstock.
Moreover, the intake capacity of chemical consuming industries has been
shrinking due to many food-processing companies having cut down production. On
the other hand, the food chemical business is highly competitive on account of
the many companies with similar activities and selling comparable imported
products in the country. We find the demand for food chemical
will be increasing in the next two years as a result of the improving economic
condition in
Until this time P.T. PGS has not been registered with Indonesian
Stock Exchange, so that they had not obliged to announce their financial
statement. The management of P.T. PGS is very
reclusive towards outsiders and rejected to disclose its financial condition.
We observed that total sales turnover of the company in2012 amounted to Rp. 6.2
billion increased to Rp. 6.9 billion in 2013 rose to Rp. 7.5 billion in 2014
and projected to go on rising by at least 5% in 2015. The operation in 2014
yielded an estimated net profit of at least Rp. 450 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
The management of P.T. PGS is led by Mr. Khoe Shin Hwa
(50) a businessman and professional manager with experience in trading, import
and distribution of food additives. 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. PRISEL GIUGA SINERGI is sufficiently fairly
good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
Rupiah |
1 |
Rs.0.0048 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.