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Report No. : |
324758 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. UNTUNG BERSAMA SEJAHTERA |
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|
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Registered Office : |
Jalan Kenjeran 395–399, Kelurahan Gading, Kecamatan Tambaksari, Surabaya, 60134, East Java |
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Country : |
Indonesia |
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Date of Incorporation : |
10.01.1991 |
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Com. Reg. No.: |
AHU-AH.01.10-55274 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Gold Accessories Manufacturing |
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No. of Employees : |
3,116 Persons |
RATING & COMMENTS
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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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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 |
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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. President Joko WIDODO - elected in July 2014 - has emphasized domestic economic growth in his first few months in office and in November 2014 reduced fuel subsidies, a move which could help the government increase spending on its development priorities. Indonesia, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
Name
of Company :
P.T.
UNTUNG BERSAMA SEJAHTERA
Address
:
Head Office & Workshop
Jalan
Kenjeran 395 – 399
Kelurahan
Gading, Kecamatan Tambaksari
Surabaya,
60134
East
Java
Indonesia
Phones - (62-31) 389 9000
(Hunting)
Fax - (62-31) 381 2526 – 7
E-mail - info@ubsgold.com
Website - http://www.ubsgold.com
Land Area - 43,459 sq.
meters
Building Space - 23,000 sq. meters
Region - Industrial
Zone
Status - Owned
Date of Incorporation :
10
January 1991
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
-
No. C2-3450.HT.01.01.TH.94
Dated 25 February 1994
-
No. AHU-44650.AH.01.02.TH.2010
Dated 20 September 2010
-
No. AHU-AH.01.10-55274
Dated 19 December 2013
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 01.531.359.6-631.000
The Department of Industry
No.
27/T/Industri/2001
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
20,000,000,000.-
Issued
Capital :
Rp. 20,000,000,000.-
Paid
up Capital :
Rp. 20,000,000,000.-
Shareholders/Owners
:
a. Mr. Jap Hok
Lhian AKA Untung Yahya - Rp.
6,000,000,000.-
b. Mrs. Ira
Setyawati -
Rp. 4,000,000,000.-
c. Mr. Thung Lan
Mei AKA Cynthia - Rp.
3,000,000,000.-
d. Mr. Timotius
Iwan -
Rp. 1,800,000,000.-
e. Mrs. Jemina
Jakin -
Rp. 1,100,000,000.-
f. Mrs. Giam
Esther Indrawati -
Rp. 900,000,000.-
g. Mrs. Elisabet
Tirta Dewi - Rp. 800,000,000.-
h. Mrs. Naomi
Julia Soegianto, MA -
Rp. 600,000,000.-
i. Mr. Danie
Kurniawan Sugianto, BA -
Rp. 600,000,000.-
j. Mr. Stevanus
Andre -
Rp. 600,000,000.-
k. Mrs. Debora
Sugianto -
Rp. 600,000,000.-
Lines of Business :
Gold Accessories
Manufacturing
Production Capacity :
a. Gold Necklace -
5,164 KG
b. Gold Pendant - 784 KG
c. Gold Bracelet -
3,518 KG
d. Gold Earrings - 609 KG
e. Bross Gold - 936 KG
Total Investment :
Owned Capital - Rp. 20.0
billion
Started Operation :
1991
Brand Name :
UBS GOLD
Technical Assistance
:
None
Number of Employee :
3,116 persons
Marketing Area :
Local - 85%
Export - 15%
Main Customer :
Trader and Shops
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BINTANG
SAUDARA JAKARTA
b. P.T. CENTRAL MEGA
KENCANA
c. P.T. DUTA BINTANG
PERMATA
d. P.T. SUMBER KREASI
CIPTA LOGAM
Business Trend :
Growing
B
a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Jend. Basuki Rachmat No. 8 – 12
Surabaya, East Java
b. P.T. Bank MANDIRI Tbk
Jalan Pemuda 27 – 31
Surabaya, East Java
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2012
– Rp. 230.0 billion
2013
– Rp. 249.0 billion
2014
– Rp. 260.0 billion
Net
Profit (estimated) :
2012
– Rp. 15.3 billion
2013
– Rp. 16.7 billion
2014
– Rp. 18.2 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Eddy Susanto Yahya
Directors -
a. Mrs. Giam Esther Indrawati
b. Mr. Timotius Iwan
c. Mr. Stevanus Andre
d. Mr. Stefanus Sandy Sugianto
e. Mr. Soedjinoto
Board of Commissioners :
President Commissioner - Mr. Jap Hok Lhian AKA Untung
Yahya
Commissioners - a. Mr. Ajub Jakin, SH.
b. Mr. Paulus Sugianto
c. Mr. Yohanes Sugianto
d. Mr. David Susanto Jahya
Signatories :
President
Director (Mr. Eddy Susanto Yahya) or one of the Directors (Mrs. Giam Esther
Indrawati, Mr. Timotius Iwan, Mr. Stevanus Andre, Mr. Stefanus Sandy Sugianto
or Mr. Soedjinoto) which must be approved by Board of Commissioner.
Management Capability :
Good
Business Morality :
Good
P.T. UNTUNG BERSAMA SEJAHTERA (P.T. UBS) was established
in Surabaya, East Java based on notary deed Mr. Yudi Gunawan, SH., no. 64 dated
10 January 1991 with an authorized capital of Rp. 20,000,000,000 wholly issued
and paid up. The founding and shareholders of the company are Mr. Untung Yahya
AKA Jap Hok Lhian, Mrs. Ira Setyawati, Mr. Yohanes Sugianto, Mrs. Thung Lan Mei
AKA Cynthia, Mrs. Elisabet Tirta Dewi, Mrs. Naomi Julia Soegianto, MA, Mr. Danie
Kurniawan Sugianto, Mrs. Jemina Jakin, and Mrs. Giam Esther Indrawati, they are
Indonesian businessmen of Chinese extraction. Its article of association had
been changed a couple of times. According to revision of notary deed Dr. J.
Andy Hartanto, SH., no. 80 dated 11 December 2013 Mr. Yohanes Sugianto pulled
out and replaced by Mr. Timotius Iwan, Mr. Stevanus Andre and Mrs. Debora
Sugianto as new shareholders. With this time the composition of its
shareholders has been changed to become Mr. Untung Yahya AKA Jap Hok Lhian
(30%), Mrs. Ira Setyawati (20%), Mrs. Elisabet Tirta Dewi (15%), Mr. Timotius
Iwan (9%), Mrs. Jemina Jakin (5.5%), Mrs. Giam Esther Indrawati (4.5%), Mrs.
Elisabet Tirta Dewi (4%), Mrs. Naomi Julia Soegianto (3%), Mr. Danie Kurniawan Sugianto
(3%), Mr. Stevanus Andre (3%) and Mrs. Debora Sugianto (3%). The deed of
amendments was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-AH.01.10-55274 dated December 19, 2013.
P.T. UBS is a national private company started to be
operating since 1991 by taking over and continued operation of C.V. UNTUNG
which established in 1981. In 1981, C.V. Untung (small-scale business) started
its business as a traditional casting gold
jewelry producer. The company adopted simple production
processes that were far from the touch
of modern technology. In 1991, C.V. Untung turned into P.T. Untung Bersama
Sejahtera (commonly called P.T. UBS) and experienced
a total renewal in product variety, technology, management and marketing activities.
The plant (workshop) is equipped with modern facility located at Jalan Kenjeran
No. 395 – 3999, Gading, Tambaksari, Surabaya, East Java standing on a land bank
of 43,459 sq. meters. P.T. UBS is the largest gold accessories manufacture
company in Indonesia. The company has covered
most parts of Indonesia and has been expanding in various parts of the country.
Smelting process is intended to make gold with a concentration in accordance
with the order. The
raw material consists of gold, silver and copper with boric acid auxiliary
materials (HBR). Smelting
uses heat induction system power use in a reactor vessel. High quality of
machine basic solid and hollow chains, variation chains, casting and stamping
items, available in 8, 9, 10, 14, 18 and 22K Gold Jewelry.
Casting process is intended to create a form of jewelry
such as pendants, rings, earrings and bracelets with
desirable models. In the casting process required printer materials (casing)
made of plaster.
Molten gold poured from the smelting unit to display devices (casing) later
when it becomes cold
material removable casing made with beatings and sprayed with water. Material
mold of plaster that has been used is inserted into recovery units
shipped to take gold in the casing. In the gold-making process that brought
together this mold used water, so that the process is produced mud plaster.
From the printing process and this case, if the goods are damaged, the damaged
goods are collected
and processed back. The company produces of Gold Necklace, Gold Pendant, Gold
Bracelet, Gold Earrings and Bross Gold. Most of raw materials like gold and
silver is obtained from locals by using Star Shine, Elegant Gold, VENUS,
KASANDRA, BASIC HAIN, GOLD, LOGAM MULIA and others.
Some of the products 15% is exported to Singapore, Hong
Kong and Asia countries. P.T. UBS is classified a large scale company of its
kinds in the country with operation has been growing in the last three years.
In overall views we find the demand for jewelry has kept
on rising 6% to 8% per annum in the last five years. The sharp growth of the
demand was in line with the progress achieved in jewelry in locals and
international markets. The demand growth is estimated to continually rising by
6% over the next five years. Market competition is very sharp considering many
other similar companies operating in the country. P.T. UBS in this case is in a
sufficiently good business position in view of the whole products is exported.
We are convinced that the company has strong ability to further expand its
business in the years to come.
Until this time P.T. UBS has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. UBS 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. 230.0 billion increased to Rp. 249.0 billion in 2013 rose to
Rp. 260.0 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. 18.2
billion and the company has an estimated total networth of at least Rp. 30.0
billion. 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. UBS is led by Mr. Eddy Susanto Yahya (36) a
professional manager with experience in gold accessories manufacturing. 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. UNTUNG BERSAMA SEJAHTERA is sufficiently fairly good for business
transaction
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared by
: |
VNT |
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.