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Report No. : |
332380 |
|
Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. BEHN MEYER
CHEMICALS |
|
|
|
|
Formerly Known As : |
PT.BEHN MEYER KIMIA |
|
|
|
|
Registered Office : |
Taman
Tekno Industrial Complex 1 Sektor XI, Jalan Tekno
Utama Block B No. 1, 2nd Floor, Desa Setu,
Kecamatan Setu,
Tangerang, 15314, Banten Province |
|
|
|
|
Country : |
Indonesia
|
|
|
|
|
Date of Incorporation : |
20.11.2011 |
|
|
|
|
Com. Reg. No.: |
AHU-AH.01.10-55245 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading
and Distribution of Industrial Chemicals |
|
|
|
|
No. of Employees : |
65 |
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 |
|
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 |
BASIC
SEARCH
|
Name
of Company :
P.T.
BEHN MEYER CHEMICALS
Address
:
Head
Office & Warehouse
Taman
Tekno Industrial Complex 1 Sektor XI
Jalan Tekno Utama Block B No. 1, 2nd Floor
Desa Setu, Kecamatan Setu
Tangerang, 15314
Banten
Province
Indonesia
Phones -
(62-21) 756 5000 (Hunting)
Fax - (62-21) 756 0860, 756 0188, 756 0870
E-mail - bmc@behnmeyer.co.id
Land Area - 8,000 sq.
meters
Building Space - 3,500 sq. meters
Region - Industrial
Estate
Status - Rent
Branches
a.
Jalan Raya Surabaya – Mojokerto Km. 19
Briginbendo, Taman Sepanjang
Sidoarjo, 61257
East Java, Indonesia
Phones -
(62-31) 788 2822 (Hunting), 788 2823
Fax
- (62-31) 788
2821
E-mail - bmcsby@behnmeyer.co.id
Land Area -
5,000 sq. meters
Building Space - 2,500 sq. meters
Region -
Industrial Estate
Status -
Rent
b.
Jalan Pulau Irian
Kawasan Industri Medan I (KIM 1)
Saentis, Percut Sei Tuan
Deli Serdang, Medan, 20371
North Sumatera, Indonesia
Phones -
(62-61) 685 0580 (Hunting)
Fax
- (62-61) 685
3578
E-mail - bmcmdn@behnmeyer.co.id
Land Area -
4,000 sq. meters
Building Space - 2,000 sq. meters
Region -
Industrial Estate
Status -
Rent
c.
Jalan Imam Bonjol 154-160
JDC Building, 3rd Floor
Semarang, 50139
Central Java
Indonesia
Phone -
(62-24) 351 2682
Fax
- (62-24) 351
2682
E-mail - bmcsmg@behnmeyer.co.id
Building Area - 5 storey
Office Space -
100 sq. meters
Region -
Commercial
Status -
Rent
Date of Incorporation :
a. 23 December 1993 as P.T. SURIMADI ARYA
b. 8 July 1999 as P.T. BEHN MEYER KIMIA
c. 20 November 2011 as P.T. BEHN MEYER CHEMICALS
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
- No. C2-7308.HT.01.01.TH.94
Dated 6 May 1994
- No. AHU-14945.AH.01.02.TH.2009
Dated 23 April 2009
- No. AHU-63738.AH.01.02.TH.2011
Dated 23 December 2011
- No. AHU-AH.01.10-55245
Dated 19 December 2013
Company
Status :
Foreign
Investment (PMA) Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 01.610.642.9-056.000
The Capital Investment Coordinating
Board
No.
91/V/PMA/1999
Dated
10 June 1999
Related
Companies :
a.
P.T. BEHN MEYER AGRICARE (Fertilizer
& Agrochemical Trading)
b. P.T. BEHN MEYER INDONESIA (Investment Holding)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital : Rp.
60,000,000,000.-
Issued
Capital :
Rp. 60,000,000,000.-
Paid
up Capital :
Rp. 60,000,000,000.-
Shareholders/Owners
:
a. P.T. BEHN MEYER INDONESIA - Rp.
59,700,000,000.-
Address : Taman Tekno BSD Industrial Complex
Jl. Tekno Utama B1, 2nd Floor
Setu, Serpong, Tangerang
Banten Province, Indonesia
b. BEHN MEYER & COMPANY PTE, LTD. - Rp. 300,000,000.-
Address :
No. 2 Boon Leat Terrace #06-01
Harbour Side Industrial Building 2
Singapore
BUSINESS ACTIVITIES
|
Lines
of Business :
Trading
and Distribution of Industrial Chemicals
Production
Capacity :
None
Total
Investment :
None
Started
Operation :
1994
Brand
Name :
Behn
Meyer Kimia
Technical
Assistance :
Behn
Meyer Chemical Holding (S) Pte, Ltd., Singapore
Number
of Employee :
65
persons
Marketing
Area :
Local - 100%
Main
Customer :
Industrial
Manufacturing
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. BRENTAG
b. P.T. GALIC BINA MADA
c. P.T. MULTI CITRA KIMIA
d. P.T. TRIMITRA SEJATI TANNINDO
e. Etc.
Business
Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B a n k e r s :
a. P.T. Bank CIMB NIAGA Tbk
ITC BSD
Jalan Raya
Serpong Km. 9
Serpong, Banten
Province
Indonesia
b. DEUTSCHE Bank AG
Jalan Imam Bonjol No. 80
Jakarta Pusat
Indonesia
Auditor :
Internal Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
2012
– Rp. 182.0 billion
2013
– Rp. 198.0 billion
2014
– Rp. 210.0 billion
Net
Profit (estimated) :
2012
– Rp. 14.6 billion
2013
– Rp. 15.5 billion
2014
– Rp. 16.7 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY EXECUTIVES
|
Board of Management :
President Director - Mr. Adhita Susilardjo
Directors -
a. Mr. Sarligan
b. Mrs. Julita Kartika
c. Mr. Teddy Candinegara
d. Mr. Teh Hun Siang
e. Mr. Dirk Albrecht Lorenz
Board of Commissioners :
President Commissioner - Mr. Mohamad Razali Bin
Mohamad Amin
Commissioners - a. Mr. Oliver Meyer
b. Mr. Prasonk Arramwittaya
c. Mr. Michael Edward Robert Wolers
d. Mrs. Rohaya Binti Muhammad
Signatories :
President
Director (Mr. Andhita Susilardjo) or one of the Directors (Mr. Sarligan, Mrs.
Julita Kartika, Mr. teddy Candinegara, Mr. Teh Hun Siang or Mr. Dirk Albrecht
Lorenz) which must be approved by Board of Commissioner
CAPABILITIES
|
Management Capability :
Good
Business Morality :
Good
OVERALL PERFORMANCE
|
Initially named P.T. SURIMADI ARYA, it was established in
December 1993 with an authorized capital of Rp. 100,000,000 entirely was issued
and paid up. The founding shareholders are Mr. Antonius Widjaja and Mr.
Fredricus Teguhprasetia, both are Chinese-Indonesian businessmen. The company's
notarial act has frequently been revised. In July 1997 the above founding
shareholders pulled out and they were replaced by Mr. Andy Tirta Kustarjo and
Mr. Ir. Henky Deradjat Kosasih. In July 1999 Mr. Ir. Henky Deradjat Kosasih
resigned and replaced by BEHN MEYER INDONESIA (BMI) GmbH of Germany.
Concurrently the authorized capital was raised to Rp. 2,000,000,000 entirely
issued and paid up. By the same time the company was renamed P.T. BEHN MEYER
KIMIA. Later in September 2008 BEHN MEYER INDONESIA GmbH withdrew and replaced
by BEHN MEYER CHEMICAL HOLDING (S) PTE, LTD., and BEHN MEYER & COMPANY PTE,
LTD., both of Singapore as new shareholders. Then in December 2008 the
authorized capital was raised to Rp. 30,000,000,000 entirely issued and paid
up. With this development the composition of its shareholders has been changed
to become BEHN MEYER CHEMICAL HOLDING (S) PTE, LTD., (99%) and BEHN MEYER &
COMPANY PTE, LTD., (1%). Later in November 2011 the company name was changed
into P.T. BEHN MEYER CHEMICALS (P.T. BMC). The latest according to revision of
notary documents Mr. Pendy Tanzil, SH., no. 02 dated 7 November 2013 the
company authorized capital was increased to Rp. 60,000,000,000 wholly issued
and paid up. With this development the composition of its shareholders has been
changed to become P.T. BEHN MEYER INDONESIA (99.5%) and BEHN MEYER &
COMPANY PTE. LTD., Singapore (0.5%). The deed of amendments was approved by the
Ministry of Law and Human Rights in its decision letter No. AHU-AH.01.10-55245
dated December 19, 2013.
P.T. BMC obtained a Foreign Investment (PMA) company
facility to deal with trading and distribution of industrial chemical. The
company has been operating since June 1994 when it was named P.T. SURIMADI
ARYA. The chemical products sold by P.T. BMC are chemicals for food
ingredients, personal care, tobacco, rubber, plastics, animal nutrition, tannery,
water treatment and coating. The whole products are imported through its sister
companies existing in Singapore, Germany, Thailand, Malaysia and others. At
present, P.T. BMK is one of the distributor and supplier of industrial chemical
and food ingredients. The Company is ultimately part of BEHN MEYER Group, which
has subsidiaries and affiliates throughout the world. The products are sold to
producers of cosmetic, food, pharmaceutical, cigarette, plastic, etc. all over
Indonesia. P.T. BMK is also engaged in distribution of food ingredients with
Sin Rubtech and ChemGen brands of Germany. The operation of P.T. BMC has been
running well for it has controlled a wide marketing network and the increasing
number of customers. The operation is also supported by operating network of
the Group.
The domestic demand for various types of chemical
products had been rising by 8% to 10% on the average per annum in the last five
years in line with the rapid growth of various industrial sectors including
textile chemical in the above period of times as the consumers. But, later
dwindled as the global economic slowdown since October 2008, followed by tight
money policy imposed by Indonesian Central Bank (Bank Indonesia) and also
heated by political issue in the country. The demand growth started to awake in
June 2009 in line with the amelioration of economic condition in the country.
Market competition is very tough on account of large number of other similar
companies operating in the country. P.T. BMC business position in this case is
not too badly because it has built regular customers and extensive marketing
network all across the country.
Imports of Raw
Materials and Auxiliary Goods, 2007-2013
|
Year |
Food and Beverages
Mainly for Industry (Million US$) |
Raw Materials for
Industry (Million US$) |
|||
|
Primary |
Processed |
Primary |
Processed |
||
|
2007 |
2,079.1 |
1,537.1 |
2,827.4 |
21,759.1 |
|
|
2008 |
3,244.5 |
1,271.6 |
4,722.3 |
40,312.9 |
|
|
2009 |
2,640.9 |
1,582.0 |
2,901.7 |
29,248.7 |
|
|
2010 |
3,074.8 |
2,165.9 |
4,539.5 |
41,714.3 |
|
|
2011 |
4,186.7 |
3,330.2 |
6,813.2 |
53.409.6 |
|
|
2012 |
4,101.0 |
3,349.2 |
5,639.7 |
59,437.0 |
|
|
2013 |
3,863,7 |
3,381,5 |
5,737.6 |
52,871.5 |
|
Until this time P.T. BMC has not been registered with Indonesian
Stock Exchange, so that they had not obliged to announce their financial
statement. The management of P.T. BMC 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. 182.0 billion increased to Rp.
198.0 billion in 2013 rose to Rp. 210.0 billion in 2014 and projected to go on
rising by at least Rp. 16.7 billion. The company has an estimated total net
worth of at least Rp. 65.0 billion. We observe that P.T. BMC 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. BMC is led by Mr. Ir. Adhita
Susilardjo (53) who holds a Bachelor (Hons.) degree in Food Technology &
Human Nutrition, has been promoted to Senior Sales Manager, Food & Personal
Care Department effective January 1, 2001. Mr. Susilardjo joined the Company as
Sales Manager in 1999 after holding executive / managerial posts with various
large dairy and integrated food manufacturers. Daily activity he is assisted by
Mrs. Julita Kartika (43) as director. 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. BEHN MEYER CHEMICALS is sufficiently fairly good for business cooperation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.00 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.