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Report No. : |
324790 |
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Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
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Name : |
P.T. LINTAS
TEKNOLOGI INDONESIA |
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Registered Office : |
Menara MTH, 16th Floor, Jalan M.T. Haryono Kav. 23, Jakarta Selatan, 12820 |
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Country : |
Indonesia |
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Date of Incorporation : |
07.08.2001 |
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Com. Reg. No.: |
AHU-00892.AH.01.02.TH.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Distribution,
Sole Agent of Telecommunication Equipment and Installation |
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No. of Employees : |
100 Persons |
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 |
|
Risk Category |
ECGC
Classification |
|
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. LINTAS TEKNOLOGI INDONESIA
A
d d r e s s :
Head Office
Menara
MTH, 16th Floor
Jalan
M.T. Haryono Kav. 23
Jakarta
Selatan, 12820
Indonesia
Phones -
(62-21) 837 88000 (Hunting)
Fax - (62-21) 837 88001
E-mail - sales@lt-indonesia.com
Website - http://www.lt-indonesia.com
Building Area - 18 storey
Office Space - 100 sq. meters
Region - Commercial
Status - Rent
Branches
a.
Bumi Bina Usaha 8th Floor Suite 806 A
Jalan Asia Afrika 141-149
Bandung 40112, West Java
Indonesia
Phones - (62-22) 4210124 (Hunting)
Fax -
(62-22) 4203184
Building Area - 14 storey
Office Space - 100 sq. meters
Region - Commercial Building
Status - Rent
b.
Gedung Lama Telkom 2nd Floor Suite 207
Jalan Pahlawan No. 10
Semarang, West Java
Indonesia
Phones - (62-24) 8448340 (Hunting)
Fax -
(62-24) 8448341
Building Area - 8 storey
Office Space - 100 sq. meters
Region - Commercial Building
Status - Rent
Warehouse
GPI Logistics
Terrain Marunda Bonded Zone
Tanjung Priok, Jakarta Utara
Phone -
(62-21) 4210124
Date of Incorporation :
7 August 2001
Legal Form :
P.T. (Perseroan Terbatas)
or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
No.
AHU-00892.AH.01.02.TH.2009
Dated 07 January 2009
Company Status :
National Private
Company
Permit by the
Government Department :
a. The Department of Finance
NPWP No. 02.053.066.3-014.000
b. The Department of Industry & Trade
SIUP/TDUP No. 0390/0051-P/09-04/PB/III/2002
Dated 7 March 2002
Related Companies :
a. P.T. INFORMATIKA
BISNIS INDONESIA (Information Technology Solution Services)
b. P.T. LINTAS
INVESTAMA (Investment Holding)
c. P.T.
LT-INTERNATIONAL (Trading and Supplies of Telecommunication Equipment for
International Clients outside of Indonesia)
Capital
Structure :
Authorized
Capital : Rp.
15,000,000,000.-
Issued
Capital :
Rp. 15,000,000,000.-
Paid
up Capital :
Rp. 15,000,000,000.-
Shareholders/Owners
:
a. P.T. LINTAS INVESTAMA -
Rp. 6,000,000,000.-
Address :
Jl. Kuningan Barat No. 26
Jakarta Selatan
Indonesia
b. Mr. Subagia Handaja -
Rp. 6,583,500,000.-
Address
: Villa Permata Gading Block B.2/2
RT. 003 RW. 006, Koja, Jakarta Utara
Indonesia
c. Mr. Nursalim Pane Alamsjah -
Rp. 2,377,500,000.-
Address : Wisma Subud RT. 007 RW. 003
Cilandak, Jakarta Selatan
Indonesia
d. Mr. Muhamad
Paisol - Rp. 39,000,000.-
Address
: Komplek Polri 42 B, RT. 005 RW. 001
Pancoran, Jakarta Selatan
Indonesia
Lines of Business :
Trading,
Distribution, Sole Agent of Telecommunication Equipment and Installation
Production Capacity :
None
Total Investment :
None
Started Operation :
December 2001
Brand Name :
LT-Indonesia
Technical Assistance:
None
Number of Employee:
100 persons
Marketing Area:
Local - 100%
Main Customers :
a. P.T. EXCELCOMINDO
PRATAMA Tbk
b. P.T. INDOSAT Tbk
c. P.T. BAKRIE
TELECOM Tbk
d. P.T. SAMPOERNA TELEKOMUNIKASI
INDONESIA
e. P.T.
TELEKOMUNIKASI INDONESIA Tbk
f. P.T. TELEKOMUNIKASI SELULER
g. Etc.
Market Situation :
Very Competitive
Main
Competitors :
a.
P.T. ALCATEL INDONESIA
b.
P.T. ERICSON INDONESIA
c.
P.T. HUAWEI INDONESIA
d.
P.T. SIEMENS NOKIA INDONESIA
e.
P.T. TECH MAHINDA INDONESIA
f. Etc.
Business
Trend :
Growing
B
a n k e r s :
a.
CITIBANK N.A.
The
Landmark Centre
Jalan
Jend. Sudirman No. 1
Jakarta 12910
Indonesia
b. ABN-AMRO Bank
Lippo
Centre
Jalan Gatot Subroto Kav. 35
Jakarta Selatan
Indonesia
c. P.T. Bank DANAMON INDONESIA Tbk
Wisma Bank
Danamon
Jalan Jend.
Sudirman 45
Jakarta 12930
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
The Subject (plaintiff) has involved in
controversial dispute with P.T. DAYA TELESIS INTERNASIONAL (defendant 1) and
DASSAD GUSTAMAN, SH (defendant 2).
Annual
Sales (estimated) :
2012
– Rp. 230.0 billion
2013
– Rp. 242.0 billion
2014
– Rp. 255.0 billion
Net
Profit (estimated) :
2012
– Rp. 13.0 billion
2013
– Rp. 14.9 billion
2014
– Rp. 15.2 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director -
Mr. Ir. Subagia Handaja
Directors -
a. Mr. Nursalim Pane Alamsjah
b. Mr. Nathan Stuart Johnson
Sales Account Manager - Mr. Irawan
Board of Commissioners :
Commissioner - Mr. Muhamad Paisol
Signatories :
President
Director (Mr. Ir. Subagia Handaja) or one of the Directors (Mr. Nursalim Pane
Alamsjah or Mr. Nathan Stuart Johnson) which must be approved by Board of
Commissioner
Management Capability :
Good
Business Morality :
Good
P.T. LINTAS TEKNOLOGI INDONESIA (P.T. LTI) was established in August
2001 with an authorized capital of Rp. 1,000,000,000 issued and paid-up capital
of Rp. 250,000,000. The founding shareholders of the company are Mr. Subagia
Handaja and Mr. Tiara Setiadi, both are Indonesian businessmen. The company’s
notary deed has been changed a couple of times. In March 2004 Mr. Tiara Setiadi
withdrew and replaced by Mr. Nursalim Pane Alamsjah as new shareholder.
With this time the composition of shareholders are Mr. Subagia Handaja
(99%) and Mr. Nursalim Pane Alamsjah (1%). Later in October 2007, the
authorized capital was raised to Rp. 15,000,000,000 wholly issued and paid up.
On the same occasion P.T. LINTAS INVESTAMA and Mr. Setio Rahardjo entered into
the company as new shareholders. The composition shareholders of the company
are P.T. LINTAS INVESTAMA (40%), Mr. Subagia Handaja (36%), Mr. Nursalim Pane
Alamsjah (13%) and Mr. Setio Rahadjo (11%). The latest in December 2008 the Mr.
Setio Rahardjo pulled out and the whole shares sold to Mr. Muhamad Paisol as
new shareholder. However the capitalization structure of the company remained
the same. With this time the composition of its shareholders has been changed
to become Mr. Subagia Handaja (43.89%), P.T. LINTAS INVESTAMA (40%), Mr.
Nursalim Pane Alamsjah (15.85%) and Mr. Muhamad Paisol (0.26%). The latest
revision of notary document was approved by the Ministry of Law and Human Right
in its Decision Letter No. AHU-00892.AH.01.02.TH.2009 dated January 07, 2009.
We observe that majority shareholder P.T. LINTAS INVESTAMA is a private national company dealing with investment holding and majority business stakes is held by Mr. Subagia Handaja and Mr. Nursalim Pane Alamsjah. Mr. Subagia Handaja is also business stakes owners of P.T. INFORMATIKA BISNIS INDONESIA engaged in the field of information technology solution services and P.T. LT-INTERNATIONAL in trading and supplies of telecommunication equipment for international clients outside of Indonesia.
P.T. LTI has been in operation since late 2001 in trading, distribution,
sole agency of telecommunication equipment and in installation services, and is
the sole agent for telecommunication equipment products of LUCENT ALCATEL
TECHNOLOGIES INTERNATIONAL INC. of the USA, a leading telecommunication company
of the United States. Mr. Irawan, the company's sales account manager, said all
the traded goods in the form of Digital Telephone Switching Equipment 5ESS and
Circuit Pack (Module Electronic), Core Switching, Core Optical, Metro Optical,
Circuit to Packet, Broadband Access, Edge Access, Network Operations Software,
3G Solutions, Mobile, Internet, VOIP Gateway/Gatekeeper, RAS (Remote Access
Server), Access Equipment are imported from LUCENT TECHNOLOGIES operating in
the USA, China and Taiwan. With a fully functional laboratorium to diagnosa,
test and simulate problems and scenarios of new and existing equipment, P.T.
LTI offers the following solutions: Switching Solutions, Optical Networking
solutions, transport solutions, Broadband Access solutions, Network Operation
Value added and Application Software solutions, Wireless solution, Professional
services (project management, design and engineering, network design,
installation, test & commissioning, system support).
P.T. LTI provides
services such as Design and Engineering, IT and Construction, Maintenance
Support, Project Management, Time and Material.
P.T. LTI has built its reputation implementing a range of product and
service solutions for our customers. The LTI brings together in-depth
expertise spanning several technical domain and pragmatic implementation and
support know-how developed over many years. Some examples of previous
projects are provided below:
Core Networks:
- SDH Networks. Hundreds of network elements deployed in three operators, including
Indonesia largest's SDH network
- DWDM Networks. Regional networks spanning over 1,000 km
- IP mobile packet core and security across Indonesia
- Hosted IP Centrex solution,
- Over 100,000 MSOAN/MSAN access lines
- 5ESS Switch Class 4, Class 5, and International Gateway deployments,
supporting 2 million
subscribers
- VoIP gateways and point of interconnect gateways for Indonesian
cellular carriers
Messaging:
- SMS centers deployed at two carriers, with capacity of over 300
million SMS/day
Operations Support
Systems:
- Inventory Management, covering over 100 NE types and thousands of
sites
- Billing Mediation consolidating multiple legacy systems
- Fault and Performance Management for multi-vendor transmission network
- IP Service Assurance, monitoring hundreds of sites
- Wireless customer experience monitoring
Services:
- 2G and 3G wireless capacity optimization
- Managed Services
P.T. LTI provides effective network infrastructure solutions to
Indonesia telecommunication network providers, as well as providing
round-the-clock technical support for LUCENT products deployed throughout
Indonesia. To accommodate the increasing demand of the products, P.T. LTI has
been applied as distributor for COMPTEL CORPORATION of Finland, TANGO TELECOM
Ltd., of Ireland and CANTATA TECHNOLOGY of Canada.
P.T. LTI is an authorized distributors and agent for:
ALCATEL-LUCENT ORACLE
COMPTEL SWISS
QUAL
DIALOGIC TANGO
TELECOM
FIBERHOME TELCORDIA
INFOVISTA UTIMACO
JUNIPER
All the above products are supplied to P.T. TELEKOMUNIKASI INDONESIA
Tbk., P.T. INDOSAT Tbk., P.T. SATELINDO, P.T.KOMSELINDO, P.T. EXCELCOMINDO
PRATAMA Tbk, P.T. TELEKOMUNIKASI SELULER, P.T. BAKRIE TELECOM Tbk, P.T.
HUCHISON CP TELECOMUNICATION, P.T. NATRINDO TELEPHONE SELULER, P.T. SAMPOERNA
TELEKOMUNIKASI INDONESIA, P.T. SMAR TELECOM, P.T. INDONESIA COMNET PLUS (ICON)
and other buyers. We see that P.T. LTI’s operation has been growing in the last
three years.
The Indonesian telecommunication industry is among the fastest growing
in the world. In 2008, Indonesia with 170.9 million mobile telephone
subscribers was the third largest telecommunication market in Asia, after China
with 615.7 subscribers and India with 346.8 subscribers. According to research conducted
by Mobil World Database, the research institution also place Indonesia in sixth
place in its top 20 mobile market rankings, above several developed countries,
such as Germany, Japan and Italy. At the same time, Indonesia is still
considered to have low penetration rate compared to other Asian countries. In
2008, Indonesia’s penetration rate stood at 69%. Given the fact that many
subscribers have more than one SIM-card, the actual penetration rate is
estimated to be below 50%. With such low penetration rate, Indonesia which has
a large and growing population and increasing disposable incomes, undoubtedly
remain a large potential market for the telecommunication industry. Indonesia
has 11 networks providers offering both GSM and CDMA based mobile phone
services.
The number of network providers in the country is quite high compared
those in neighboring countries. Malaysia, for example, has only three
providers; Singapore, three; India, seven and Australia four. The
telecommunication industry in 2014 showed quite rapid growth. The quickest
growth has been showing by cellular telephone and internet. The quickest growth
has been showing by cellular telephone and internet. Meanwhile, based on
communication products grabbled by P.T. TELKOM Tbk in 2014 has also increased.
Details on the growth of cable telephone production facility are as shown on
the table below:
Growth,
Development of Fixed Telephone and
Cellular Telephone
Subscriber 2005-2013
|
Year |
Fixed Telephone |
Cellular
Telephone |
|
2005 2006 2007 2008 2009 2010 2011 2012 2013 |
13.0 million 14.0 million 16.2 million 20.0 million 26.0 million 28.2 million 31.0 million 33.0 million 34.2 million |
46.9 million 63.8 million 96.4 million 170.9 million 172.4 million 221.0 million 260.0 million 285.0 million 300.0 million |
Until this time P.T. LTI has not been registered with Indonesian Stock
Exchange, so that they had not obliged to announce their financial statement.
The management of P.T. LTI 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. 242.0 billion in
2013 rose to Rp. 255.0 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. 15.2 billion and the company has an estimated total networth of at
least Rp. 55.0 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 company has involved in controversial dispute by sue P.T. DAYA
TELESIS INTERNASIONAL (defendant 1) and DASSAD GUSTAMAN, SH (defendant II) in
connection that the defendant I and defendant II have sold and distributed
products of LUCENT TECHNOLOGIES INTERNATIONAL SALES LTD., with 5ESS brand to
P.T. TELKOM Tbk without any permission from P.T. LINTAS TEKNOLOGI INDONESIA as
the sole agent and distributor in Indonesia. P.T. LTI has been approved as the
sole agent and distributor with decision number 292/Pdt.G/2003/PN.Bks dated 20
February 2004 through Bekasi district court.
P.T. LTI's management is headed by Mr. Subagia Handaja (52), a
professional manager with experience in trading, sole agency of
telecommunication equipment and in installation services. He previously was
president director of P.T. LUCENT TECHNOLOGIES NETWORK SYSTEMS INDONESIA, a
telecommunication equipment industry company. P.T. LTI was formed by the former
management team of Lucent Technologies Indonesia, and currently employs over 80
experienced professionals. Many of our employees have over a decade of
telecommunications experience, including overseas assignments. P.T. LTI since
then has grown and developed to a company, offering several solutions and
services in this challenging Industry and market. P.T. LINTAS TEKNOLOGI
INDONESIA is sufficiently fairly good for business cooperation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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|
Report Prepared
by : |
NIT |
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.