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Report No. : |
306403 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. MENJANGAN SAKTI |
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Registered Office : |
Mensa Builing I, 3rd Floor, Jl. Rasuna Said Kav. B-34,
Kuningan, Jakarta 12940 |
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Country : |
Indonesia |
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Date of Incorporation : |
07.04.1975 |
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Com. Reg. No.: |
Y.A. 5/147/19 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is Importer and Wholesale of Pharmaceutical
Raw Materials, Food Ingredients, Feed Meals, Cosmetic, Medical Devices and
others. |
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No. of Employee : |
206 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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|
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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) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
P.T. MENJANGAN
SAKTI
ADDRESS :
HEAD
OFFICE
Mensa Builing I, 3rd Floor
Jl. Rasuna Said Kav. B-34
Kuningan
Jakarta 12940
Indonesia
Phone -
(62-21) 5222468 (hunting)
Fax. - (62-21) 5222467, 5256337
Email - sales@mensa-trading.com
Website - http://www.mensa-trading.com
Building Area - 22 storey
Office Space - 600 sq. meters
Region - Commercial
Status - Owned
WAREHOUSE
Jl. Pulau Kambing II/26
Pulogadung Industrial Estate
Jakarta Timur
Indonesia
Phone -
(62-21) 4605895, 46824074
Fax. - (62-21) 46824075
Building Area - 3,800 sq. meters
Office Space - 2,500 sq. meters
Region - Industrial
Estate
Status - Rent
DATE OF
INCORPORATION :
07 April 1975
LEGAL FORM :
P.T. (Perseroan Terbatas) or Limited Liability Company
COMPANY REG. NO. :
The Ministry of
Law and Human Rights
a. No. Y.A. 5/147/19
Dated 43 June 1975
b. No. AHU-90910.AH.01.02.Tahun 2008
Dated 27 November 2008
c. No.
AHU-AH.01.10-13613
Dated 20 August 2009
COMPANY STATUS :
National Private Company
PERMITS BY THE GOVERNMENT DEPARTMENTS :
a. The
Department of Finance
NPWP No. 01.301.277.8-062.000
b. The
Department of Health
No. 405/AA/SK/PBB/II/7
Dated 7 September 1981
c. The
Department of Trade
TAPPI No. 5749 N
Dated 11 February 1981
RELATED/AFFILIATED COMPANY :
A member of the MENSA Group of Companies
a. P.T. MENJANGAN SAKTI (Trading of Pharmaceutical Products and
Investment Holding)
b. P.T. MENSA AKTIVA (Investment Holding)
c. P.T. MENSA BINA SUKSES (Trading and Distribution of Healthcare)
d. P.T. MENSA SEJAHTERA MEDIKA (Dental Clinic)
e. P.T. ANDINI SARANA (Dental and Medical Equipment Manufacturing)
f. P.T. VARIA JASA SAKTI
(Cleaning Services and Building Management)
g. P.T. PETIWI AGUNG (Pharmaceutical Manufacturing)
h. P.T. OTTO PHARMACEUTICAL
INDUSTRIES (Pharmaceutical Manufacturing)
CAPITAL STRUCTURE :
Authorized Capital
- Rp. 20,000,000,000.-
Issued Capital - Rp. 15,000,000,000.-
Paid up Capital - Rp. 15,000,000,000.-
SHAREHOLDERS/OWNERS :
a.
Mr. Sudharta AKA Jimmy Sudaharta - Rp.
14,990,000,000.- (99.93%)
Address : Jl. Caringin Timur I/20 RT.015/010
Jakarta Selatan
Indonesia
b. Mr. Budi Jonathan Sudharta - Rp. 10,000,000.- ( 0.07%)
Address : Jl. Caringin Timur I/20 RT.015/010
Jakarta Selatan
Indonesia
LINES OF BUSINESS:
Importer and Wholesale of Pharmaceutical Raw
Materials, Food Ingredients, Feed Meals, Cosmetic, Medical Devices and others.
STARTED OPERATION :
1975
BRAND NAME :
MENJANGAN SAKTI or
MENSA
NUMBER OF EMPLOYEE :
206 persons
MARKETING AREA :
Local - 100%
MAIN CUSTOMERS :
a. P.T. COCA COLA
INDONESIA
b. P.T. DANONE
INDONESIA
c. P.T. INDOFOOD
SUKSES MAKMUR Tbk.
d. P.T. NESTLE
BEVERAGES INDONESIA
e. P.T. AJINOMOTO INDONESIA
f. P.T. AVENTIS
INDONESIA
g. P.T. BAYER INDONESIA
h. P.T. PFIZER INDONESIA
MARKET SITUATION :
Very Competitive
MAIN COMPETITORS :
a. P.T. KHARINDO
PRAKARSA
b. P.T. ELANG
KURNIA SAKTI
c. P.T. ADIMITRA
PRIMA LESTARI
d. P.T. TIRTA WANA
SEMESTA KENCANA
e. P.T. MEGA KEMIRAYA
h. P.T. WICAKSANA OVERSEAS
i. P.T. ENSEVAL MEGA TRADING
BUSINESS TREND :
Growing
BANKERS :
a. The Hong Kong and Shanghai Bank Corp.
Jakarta Office
Jl. HR Rasuna Said Kav. X7 No. 6
Jakarta Selatan
b. P.T. Bank CENTRAL ASIA Tbk.
Menara Karya, Ground Floor
Jl. HR
Rasuna Said Blok X-5 Kav.1-2
Jakarta
Selatan
c. P.T. Bank DANAMON INDONESIA
Menara Bank Danamon
Jl. Prof.
Dr. Satrio Kav. E4 No. 6
Jakarta Selatan
AUDITOR :
Johan Malonda Mustika & Rekan, a public accountant
LITIGATION :
No litigation record in our database
ANNUAL SALES
:
2011 – Rp. 872.0 billion
2012 – Rp. 928.0 billion
2013 – Rp. 985.0 billion
2014 – Rp.1,068.0
billion
NET PROFIT :
2011 – Rp. 45.2 billion
2012 – Rp. 48.0 billion
2013 – Rp. 51.0 billion
2014 – Rp. 55.0 billion
PAYMENT MANNER :
Average
FINANCIAL COMMENTS :
Satisfactory
BOARD OF MANAGEMENT :
President Director - Mr. Sudharta AKA Jimmy
Sudharta
Director - Mr. Budi Jonathan Sudharta
BOARD OF COMMISSIONER :
Commissioner -
Mrs. Lanny Soenanta Sudharta
SIGNATORIES :
President Director (Mr. Sudharta AKA
Jimmy Sudharta) or Director (Mr. Budi Jonathan Sudharta) which must be approved
by the Board of Commissioner (Mrs. Lanny Soenanta Sudharta)
MANAGEMENT CAPABILITY :
Good
BUSINESS MORALITY :
Good
CREDIT RISK :
Below Average
CREDIT RECOMMENDATION :
Credit should be proceeded normally
PROPOSED CREDIT LIMIT :
Moderate amount
MAXIMUM CREDIT LIMIT :
US$ 10,680,000.- on the 90 days of payments
P.T. MENJANGAN SAKTI (P.T. MENSA) was
incorporated on April 7, 1975 in Jakarta with an authorized capital of Rp
20,000,000.- of which Rp 10,000,000.- was issued and paid up. Founders and
shareholders of are Mr. Sudharta AKA Jimmy Sudharta and his wife Mrs. Maria
Tanudjaja. They are Chinese origin Indonesian business family. The deed of establishment
has been approved by the Minister of Justice of the Republic of Indonesia
through Decision Letter No. Y.A. 5/147/19 dated June 3, 1975.
The company's notarial act has frequently
been amended. In 1978 its authorized capital was raised to Rp 100,000,000.- of
which Rp 60,000,000.- was issued and paid up. In December 1992 its authorized
capital was increased again to Rp 5,000,000,000.- and the issued capital to Rp
2,000,000,000.- wholly paid up. In June 1995 the authorized capital was raised
to Rp 10,000,000,000.- issued and paid up capital to Rp 7,000,000,000.-. In
July 1996 the authorized capital was raised to Rp 20,000,000,000.- of which Rp.
15,000,000,000.- was issued and paid up.
Latest in July 2009, Mrs. Maria Tanudjaja
pulled out and the whole shares are sold to her son Mr. Budi Jonathan
Sudharta. Since then, the shareholders
of the company are Mr. Jimmy Sudharta (99.93%) and his son Mr. Budi Jonathan
Sudharta (0.07%). This amendment to Articles of Association
was approved by the Minister of Law and Human Rights of the Republic of
Indonesia by virtue of Decision Letter No. AHU-AH.01.10-13613 dated
August 20, 2009. No changes have been effected in term of its shareholding
composition and capital structures to date.
P.T. MENSA has been in operation since 1975
in trading, import and wholesale of pharmaceutical raw materials, food
ingredient, feed meals, cosmetic, medical devices and others. The company is appointed by a number of
leading foreign companies such as DSM Nutritional Products, DSM Anti-Infective,
WELDING Hamburg, COLORCON, SPI PHARMA, ARKEMA, BERACA, AIONEST, ECKART,
BIOLAND, SANOFI AVENTIS, LANONIES, STELLA, INCA OIL, GREENTECH Naturally,
GIVAUDAN, INOLEX, BRUNO BOCK, UNI PEX, RECORDATI, MEGGLE and others. Today, P.T. MENSA having more than 1000
products and serving approximately 650 regular customers in pharmaceutical,
food, feed and cosmetic industry throughout Indonesia. Their main customers are PT. Coca Cola
Indonesia, PT. Danone Indonesia, PT. Indofood Sukses Makmur, PT. Nestle
Beverages Indonesia, PT. Ajinomotor Indonesia, PT. Aventis Indonesia, PT. Bayer Indonesia, P.T. Pfizer Indonesia, etc. Besides, P.T. MENSA is also active in investment
holding by controlling 35% shares of PT. OTTO PHARMACEUTICAL is engaged in
pharmaceutical manufacturing. We observe
that P.T. MENSA is classified as a large sized company of its kind in the
country of which the operation has been growing in the last three years.
Generally outlook, the demand for
pharmaceutical raw materials, food ingredient, feed meals, cosmetic and medical
devices has kept on growing by 8% to 10% until early 1997 in line with the
growing activities of pharmaceutical industries, food and beverage industries,
cosmetic industries and others. It is
projected the demand will rise by about 5% to 6% per year within the coming
three years. Competition is very tight due to a large number of similar local
and imported products are marketed locally. Business position of P.T. MENSA is
not so critical for it has controlled a wide marketing network and customers in
the country.
According to statement of income (source:
the Department of Trade and Industry), the total sales/revenues of P.T. MENSA
in fiscal 2009 amounted to Rp. 740.0 billion with a net profit of Rp. 36.1
billion increased to Rp. 803.7 billion with a net profit of Rp. 41.6 billion in
2010. Up to present, we have yet to gain
the statement of income of P.T. MENSA in fiscal 2011 to 2014. However, we estimated that total
sales/revenues of the company in 2011 amounted to Rp. 872.0 billion, increased
to Rp. 928.0 billion in 2012 to Rp. 985.0 billion in 2013 and rose again to Rp.
1,068.0 billion in 2014. The operation
in 2014 yielded a net profit at least of Rp. 55.0 billion with a total net
worth of Rp. 460.0 billion. We observe
that P.T. MENSA is supported by financially strong behind it. So far, we did
not hear that the company having been black listed by the Central Bank (Bank
Indonesia) or having detrimental cases being settled in the local courts. The company usually pays its debts punctually
to suppliers.
The management is
handed by Mr. Jimmy Sudharto (66), a businessman with
experience for more than 35 years in the trading
of pharmaceuticals raw material and pharmaceutical products. In daily
activities, he is assisted by his son Mr. Budi Jonathan Sudharta AKA Jonathan
Sudharta (34). The management is also handled by a number of professional
staff, having maintained a wide business relation with private businessmen at
home and abroad as well as with government sector. So far, we did not hear that
the company’s management involved in the business malpractices or detrimental
cases that settled in the country. The company’s litigation record is clean and
it has not registered with the black list of Bank of Indonesia. P.T. MENJANGAN SAKTI or MENSA is appraised
to be good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.87 |
|
|
1 |
Rs. 94.07 |
|
Euro |
1 |
Rs. 70.19 |
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.