|
Report No. : |
305521 |
|
Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. PINDO DELI PULP AND PAPER MILLS |
|
|
|
|
Registered Office : |
Sinar Mas |
|
|
|
|
Country : |
|
|
|
|
|
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 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
Sources: APKI (Indonesian Pulp and
Paper Association
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
Attachment 2:
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 CEMERLANG 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.61.74 |
|
UK Pound |
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.