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Report No. : |
304148 |
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Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. MEGA MEDIA |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19.05.2006 |
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Com. Reg. No.: |
AHU-AH.01.10-42964 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Provider of Television Cable (Pay TV)
Services |
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No. of Employees : |
60 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Indonesia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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, 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 |
BASIC SEARCH |
Name of Company :
P.T. MEGA MEDIA INDONESIA
A d d r e s s :
Head Office
Graha Arda Building, 5th
Floor
Jalan HR. Rasuna Said, Kav. B-6
Setiabudi,
South Jakarta
Indonesia
Phone - (62-21) 5022 9911
F a x -
Not Available
Email - Not Available
Website - http://www.orangetv.co.id/
Building Area - 8 storey
Office Space - 240 sq. meters
Region - Commercial
Status - Rent
Date of
Incorporation :
19 May 2006
Legal Form :
PT. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No. :
The Ministry of
Law and Human Right
a. No.
AHU-05854.AH.01.01.Tahun 2008
Dated
06 February 2008
b. No. AHU-22589.AH.01.02.Tahun 2011
Dated
05 May 2011
c. No.
AHU-AH.01.10-21629
Dated
11 July 2011
d. No.
AHU-AH.01.10-06944
Dated
27 February 2012
e. AHU-19423.AH.01.02.Tahun
2013
Dated
12 April 2013
f. No.
AHU-AH.01.10-42964
Dated
21 October 2013
Company Status :
Domestic Investment Company
Permit by the
Government Department :
The Department of
Finance
NPWP No. 02.691.456.4-018.000
a. P.T.
MEGA ENTERTAINMENT INDONESIA (Investment Holding)
b. A
Member Company of the SINAR MAS Group
CAPITAL AND OWNERSHIP |
Capital Structure
:
Authorized Capital - Rp. 20,000,000,000.-
Issued Capital - Rp.
5,000,000,000.-
Paid up Capital - Rp.
5,000,000,000.-
Shareholders/Owners
:
a. Mr. Hidayat Tjandradjaja -
Rp. 250,000.- (0.01%)
Address : Apartemen
Darmawangsa
RT. 001/002, Pulo
South Jakarta
Indonesia
b. P.T. MEGA ENTERTAINMENT INDONESIA - Rp. 4,999,750,000.- (99.99%)
Address : Gedung
Menara Imperium, 11th Floor
Jalan HR. Rasuna Said
South Jakarta
Indonesia
BUSINESS ACTIVITIES |
Lines of Business
:
Provider of Television Cable (Pay TV)
Services
Production
Capacity :
Pay TV Cable :
a. KU
Band
b. C
Band
Total Investment :
Owned Capital - Rp. 5.0 billion
Started Operation
:
2010
Brand Name :
ORANGE TV
Technical
Assistance :
None
Number of Employee
:
60 Persons
Marketing Area :
Local -
100%
Main Customers :
Corporate and Publics
Market Situation :
Competitive
Main Competitors :
a. P.T.
KARYA MEGAH ADIJAYA
b. P.T.
INDONUSA TELEMEDIA
c. P.T.
FIRST MEDIA Tbk
d. P.T.
NUSANTARA VISION
e. P.T.
MNC SKY VISION Tbk
f. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION |
B a n k e r s :
a. P.T. BANK MANDIRI Tbk
Jalan
HR. Rasuna Said, Kav. B-3
South Jakarta
Indonesia
b P.T. BANK CENTRAL ASIA Tbk
Jalan
HR. Rasuna Said Blok X-5, Kav. 1-2
South Jakarta
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE |
Annual Sales
(estimated) :
2012 – Rp. 3.9 billion
2013 – Rp. 4.2 billion
2014 – Rp. 4.5 billion
Net Profit
(estimated) :
2012 – Rp. 273.0 million
2013 – Rp. 315.0 million
2014 – Rp. 337.5 million
Payment Manner :
Almost promptly
Financial Comments
:
Satisfactory
KEY EXECUTIVES |
Board of
Management :
President
Director - Mr. Hidayat
Tjandradjaja
Directors - Mrs. Al Greeny
Savitri Dewayanti
- Mr.
Bobby Krisnadi Sidharta
- Mr.
Timotius Max Sulaiman
- Mr.
Anwar Suryadi
Board of Commissioner :
President
Commissoner - Mr. Supeno Lembang
Commissioner - Mrs. Artine Savitri Utomo
Signatories
:
The
President Director (Mr. Hidayat Tjandradjaja) which must be approved by the
Board of President Commissioner (Mr. Supeno Lembang)
CAPABILITIES
|
Management
Capability :
Good
Business Morality
:
Good
OVERALL PERFORMANCE |
P.T. MEGA MEDIA INDONESIA (P.T. MMI) was
established in Jakarta based on Notarial Deed No. 23 dated May 19, 2006 made by
Notary Nuraini Zachman, SH., M.Hum., with an authorized capital of Rp. 5,000,000,000.-
of which Rp 3,125,000,000.- was issued and fully paid up. The founding
shareholders of the company are P.T. MEGA ENTERTAINMENT INDONESIA (99.99%) and
Mr. Hidayat Tjandradjaja (0.01%). The Deed of establishment has been approved
by the Minister of Law and Human Rights of the Republic of Indonesia through
its Decision Letter No. AHU-05854.AH.01.01.Tahun 2008 dated February 06, 2008.
The articles of association of the company
have frequently been changed, most recently by notarial Deed No. 83 dated
September 13, 2013 made by Notary Humberg Lie, SH., SE., M.Kn., the authorized
capital was raised to Rp 20,000,000,000.- of which Rp 5,000,000,000.- was
issued and fully paid up. The latest shareholders of the company are P.T. MEGA
ENTERTAINMENT INDONESIA (99.99%) and Mr. Hidayat Tjandradjaja (0.01%). The
amendment to Deed has been approved by the Minister of Law and Human Rights
through its Decision Letter No. AHU-AH.01.10-42964 dated October 21, 2013. No
changes have been effected in term of its shareholding composition and capital
structures to date.
P.T. MMI engaged in provider of television
cable (Pay TV) services. Its head office is located on Graha Arda Building, 5th
Floor, Jalan HR. Rasuna Said, Kav. B-6, Setiabudi, South
Jakarta
on an office space of some 240 sq. meters. The company had been operating since
2010. Sales office of P.T. MMI located in several regions in
Indonesia, such as Medan (North Sumatra), Palembang
(South Sumatra), Sukabumi
and Bandung (West Java), Surabaya
(East Java), Makassar (South Sulawesi), Pekanbaru
(Riau) and Semarang
(Central Java). Television Cable
(Pay TV) Products of P.T. MMI is ORANGE
TV, based on the decision
of the Minister of Communication and
Information of the Republic of Indonesia
No. 537 / KEP
/ M.KOMINFO /
12/2010, which graced
subscription satellite television
entertainment business in Indonesia since 2010.
Different from other Pay TV operators, ORANGE TV using a prepaid
system (voucher), where the customers aren’t burdened by monthly
dues. Packages offered can be selected according to the needs.
Customers only pay
for the watch only. ORANGE TV is
available in two different
products, namely “KU Band”
and “C Band”
which both have advantages
on each - each according to customer
requirements. We observed that P.T. MMI 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 note that generally the demand for
television cable and direct broadcasting satellite television services had been
rising in the last five years, in close correlation with the growing population
and their rising income in that period. But the economic crisis battering
Indonesia since October 2008 and the government's tight money policy has caused
the operations of many government and private companies to dwindle. We find
that the demand for television cable and Pay TV television services it will be
rising by the next five years. Competition is very tight due to a lot of Pay TV
operating in Indonesia. P.T. MMI business position is fairly good for it has
controlling a wide marketing in the country.
The company is neither public listed nor
bond issued company. Therefore, the company has no obligation to publish
financial statement publicly. The
management is very reclusive and unlikely to expose its financial condition to
outsider. We estimate that sales turnover of the company in 2012
amounted to Rp. 3.9 billion increased to Rp. 4.2 billion in 2013 and rose again
to Rp. 4.5 billion in 2014. The operation of the company in 2014 yielded a net
profit at least Rp. 337.5 million and the company has a total net worth of Rp.
2.7 billion. It is projected that total sales turnover of the company will
increase at least 8% in 2015. So far we did not hear that P.T. MMI 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.
The management of P.T. MMI is led by Mr. Hidayat Tjandradjaja (55) as president
director. In his daily activities, he
is assisted by four directors namely Mrs. Al Greeny Savitri Dewayanti (43), Mr.
Bobby Krisnadi Sidharta (40), Mr. Timotius Max Sulaiman (40) and Mr. Anwar
Suryadi (50). The management has maintained a wide relation with private
businessmen at home and abroad as well as with government authorities. So far,
we did not hear that the company's management having been involved in the
business malpractices.
P.T. MMI is appraised to be 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.61.74 |
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|
1 |
Rs.92.71 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.