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Report No. : |
306962 |
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Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. DIALOG
SISTEMINDO |
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Registered Office : |
Bidakara 2 Building 15th Floor, Jalan Jend. Gatot
Subroto Kav. 71-73, Menteng Dalam, Tebet, Jakarta Selatan, 12870 |
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Country : |
Indonesia |
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Date of Incorporation : |
27.03.2000 |
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Com. Reg. No.: |
No. AHU-AH.01.10-29492 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· engaged in the field of Management Consulting and Contracting Services in the Oil and Gas Mining. ·
The services provided include a range of upstream to downstream Activities, Encompassing Specialist Products and
Services as Mentioned Catalyst Handling Services; Synthetic Drilling Base
Fluids; Catalyst handling Services and Equipment Rental. |
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No of Employees : |
112 |
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) |
|
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 |
P.T. DIALOG
SISTEMINDO
Head Office
Bidakara 2 Building 15th
Floor
Jalan Jend. Gatot Subroto Kav. 71-73
Menteng Dalam, Tebet
Jakarta Selatan, 12870
Indonesia
Phones - (62-21) 8370 5372 (Hunting)
Fax - (62-21) 8370 5373
E-mail - marketing@dialogasia.com
Website - http://www.dialogasia.com
Building Area - 18 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Warehouse
Kawasan Industri Jababeka 3
Jalan Tekno Boulevard B 6A
Cikarang Barat, Cikarang
Bekasi, 17530
West Java
Indonesia
Phones - (62-21) 8984 4541 (Hunting)
Fax - (62-21) 8984 4542
E-mail - edison.sinaga@dialogasia.com
Land Area - 3,000 sq. meters
Building Space - 2,100 sq. meters
Region - Industrial Estate
Status - Owned
27 March 2000
P.T. (Perseroan Terbatas) or Limited
Liability Company
The Ministry of
Law and Human Rights
- No. C-25351.HT.01.01.TH.2000
Dated 15 December
2000
- No. AHU-18310.AH.01.02.TH.2013
Dated 9 April 2013
- No. AHU-AH.01.10-29492
Dated 17 July 2013
Foreign Investment (PMA) Company
The Department of Finance
NPWP No. 01.962.027.7-062.000
The Department of Industry and Trade
TDP No. 090217421540
Dated 24 January 2001
The Capital Investment Coordinating Board
No. 237/I/PMA/2000
Dated 27 March 2000
DIALOG SYSTEMS (ASIA) PTE., LTD., Singapore (Investment
Holding)
Capital Structure :
Authorized Capital : US$ 1,600,000.-
Issued Capital : US$ 400,000.-
Paid up Capital : US$ 400,000.-
Shareholders/Owners :
a. DIALOG SYSTEMS (ASIA) PTE. LTD. - US$ 360,000.-
Address : No.
45 Moonbeam Terrace
Singapore, 277313
b. Mr. Rian Rochdiarini -
US$ 40,000.-
Address : Jl. Banjarsari I No. 8, RT. 001
RW. 008
Kelurahan Cilandak Barat,
Kecamatan Cilandak
Jakarta Selatan
Indonesia
Lines of Business :
· engaged in the field of Management Consulting and Contracting Services in the Oil and Gas Mining.
· The services provided include a range of upstream to downstream Activities, Encompassing Specialist Products and Services as Mentioned Catalyst Handling Services; Synthetic Drilling Base Fluids; Catalyst handling Services and Equipment Rental.
Production Capacity :
None
Total Investment :
None
Started Operation :
2001
Brand Name :
Dialog Sistemindo
Technical Assistance :
Dialog System (Asia) Pte, Ltd., Singapore
Number of Employee :
112 persons
Marketing Area :
Export - 100%
Main Customer :
Oil and gas industries
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BAKER HUGHES INDONESIA
b. P.T. BJ SERVICES INDONESIA
c. P.T. ELNUSA Tbk
d. P.T. THALES GEOSOLUTION SERVICES
e. Etc.
Business Trend :
Growing
Bankers :
a. P.T. Bank DBS
INDONESIA
DBS Bank Tower,
Ciputra World 1
Jalan Prof. Dr.
Satrio Kav. 3-5
Jakarta Selatan
b. P.T. Bank MANDIRI
Tbk
Plaza
Mandiri
Jalan
Jend. Gatot Subroto Kav. 36-38
Jakarta
Selatan
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Annual Sales (estimated) :
2012 – Rp. 119.0 billion
2013 – Rp. 126.0 billion
2014 – Rp. 131.0 billion
Net Profit (estimated) :
2012 – Rp. 8.3 billion
2013 – Rp. 9.0 billion
2014 – Rp. 9.8 billion
Payment Manner :
Average
Financial Comments :
Satisfactory
Board
of Management :
President
Director - Mr. Lai Keun On
Directors - a.
Mr. Toh Chee Seng
b. Mr. Rian Rochdiarini
Board
of Commissioners :
President
Commissioner - Mr. Chan
Yew Kai
Commissioners - a. Mr. Chew Eng
Kar
b. Mr. Chong Chong Wooi
Signatories
:
President Director (Mr. Lai Keun On) or
one of the Directors (Mr. Toh Chee Seng or Mr. Rian Rochdiarini) which must be
approved by Board of Commissioner
Management
Capability :
Good
Business
Morality :
Good
P.T. DIALOG SISTEMINDO
(P.T. DS) was established in Jakarta based on notary deed Mrs. Lisa Aryani,
SH., no. 15 dated 27 March 2000 with an authorized capital of US$ 400,000
issued capital of US$ 100,000 entirely paid up. The founding and shareholders
of the company are DIALOG SYSTEMS PTE., LTD., Singapore and Mr. Edison Sinaga,
an indigenous businessman of Batak tribe. Its article of association had been
changed a couple of times and March 2013, Mr. Edison Sinaga pulled out and into
the company entered by Mr. Rian Rochdiarini as new shareholder. On the same
occasion the company authorized capital was increased to US$ 1,600,000 issued
capital to US$ 400,000 entirely paid up. With this development the composition
of its shareholders has been changed to become DIALOG SYSTEMS (ASIA) PTE.,
LTD., Singapore (90%) and Mr. Rian Rochdiarini (10%). The latest according to
the revision of notary deed Mr. Henry Siregar, SH., no. 03 dated 11 July 2013
the company board of director and the board of commissioner had been changed.
The deed of amendments was approved by the Ministry of Law and Human Rights in
its decision letter No. AHU-AH.01.10-29492 dated July 17, 2013.
P.T. DS is a
Foreign Investment (PMA) company facility to be engaged in the field of
management consulting and contracting services in the oil and gas mining. The
services provided include a range of upstream to downstream activities,
encompassing specialist products and services as mentioned below: catalyst
handling services; synthetic drilling base fluids; catalyst handling services
and equipment rental. Their in-house developed and patented catalyst handling
technology and services provides a one-stop solution to all catalyst handling
needs. The benefits derived from this patented technology far surpassed any
known handling technology in the global market. This patented technology
minimizes inert entry to improve safety and eliminates dust emission and ground
spillage. In addition, the quality loading results in ultra low catalyst
attrition rate there by extending their lifespan. In the long run, customers
will experience huge cost savings due to minimal change out.
Besides, to
support of its services the company sells and supplied of JOHNSON MATTHEY
Catalyst, CONOCOPHILIPS Liquid Power Flow Improver; SHEEL MDS Drilling Base
oil; MDEA; PDEB; Petroleum Dyes; FIBERBOND Advanced Composite Piping System;
DESANDER DEOILER Hydrocylones; LISEGA GmbH Pipe Support System; TRACERCO
PROFILER; and NUCLEONIC Instrument Special Technical Service. P.T. DS is a
registered vendor for clients in the oil, gas, petrochemicals and chemical
industries and they include the following; P.T. CHEVRON PACIFIC INDONESIA,
CHEVRON INDONESIA COMPANY, PERTAMINA UP Stream & Downstream, CONOCOPHILIPS
INDONESIA INC, TALISMAN, BP, P.T. PETRO OXO NUSANTARA, P.T. PUPUK SRIWIJAYA
PALEMBANG, P.T. PUPUK KALIMANTAN TIMUR, P.T. PETROKIMIA GRESIK, and others. We
observe the operation of P.T. DS has been growing and developing well in the
last three years.
The Company viewed that the future oil & gas business
prospect remains promising. The need for oil and gas as the main source of
energy will continue to increase in the next few years. As one of the leading
producers of oil and gas in the country, the Company is currently strategically
positioned to develop itself in responding to such challenges. One of the essential
factors in achieving Indonesia’s economic growth in 2014 is through effective
and proper subsidy management, particularly in the energy sector. It is a known
fact that the large amount of subsidy is partly caused by the decrease in oil
and gas exploration and production in Indonesia. The key to address this issue
is to increase the investment for exploration and production activities in
Indonesia’s oil fields. Moving forward, the Company, with a highly reliable
Senior Management team, high quality drilling fleet, experienced and
well-trained employees for 30 years, supported by its sustainable development
strategy, is in the strategic position and will always be committed to actively
participate in increasing the exploration and production activities in
Indonesia’s oil and gas industry.
Indonesia is globally well-known for its abundant natural resources. As quoted in recent publications, Indonesia has the world’s biggest natural resources reserves in terms of geothermal potential. 40% of geothermal reserves can be found in this archipelagic country. Unfortunately, only 4% of such reserve is exploited at this point. The massive potential of Indonesian natural resources should be deemed as opportunity to fulfill the national and some international needs of energy. Taking advantage of this opportunity, the players in oil and gas industry need to gear up for the year of general election, 2014. In drilling industry in particular, geopolitical factor has significant part in boosting the overall performance. In facing 2014, the Company continues to hold our commitment to actively participate in supporting the increasing oil, gas and geothermal exploration and production activities in Indonesia. Indonesia possesses the largest geothermal potential in the world, i.e. approximately 40% of the total worldwide potential. Currently, only 4% of the existing geothermal has been utilized. This has then become an opportunity for the Company considering our longstanding performance and extensive experience in geothermal drilling.
Until this time P.T. DS has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. DS is
very reclusive towards outsiders and rejected to disclose its financial
condition. We observed that total sales turnover of the company in 2012
amounted to Rp. 119.0 billion increased to Rp. 126.0 billion in 2013 rose to Rp.
131.0 billion in 2014 and projected to go on rising by at least 6% in 2015. The
operation in 2014 yielded an estimated net profit of at least Rp. 9.8 billion
and the company has an estimated total networth of at least Rp. 15.0 billion.
We observe that P.T. DS is supported by foreign partner with has financially
strong and sound behind it. So far, we did not heard that the company having
been black listed by the Central Bank (Bank Indonesia). The company usually
pays its debts punctually to suppliers.
The management of P.T. DS is led by Mr. Lai Keun On (58)
a professional manager with experience in management consulting and contracting
services in the oil and gas mining. 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. DIALOG
SISTEMINDO is sufficiently fairly good for business transaction.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
UK Pound |
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.