|
Report No. : |
324917 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. HEXAMATICS NUSANTARA |
|
|
|
|
Registered Office : |
Level 25, Menara Prima, Jl. Mega Kuningan Block 6.2, Kel. Kuningan Timur, Kec. Setiabudi Jakarta Selatan 12950 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
18.06.2008 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-13446 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Telecommunication Consulting Services |
|
|
|
|
No. of Employees : |
12 Persons |
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. HEXAMATICS NUSANTARA
A
d d r e s s :
Head Office
Level
25, Menara Prima
Jl.
Mega Kuningan Block 6.2
Kel.
Kuningan Timur, Kec. Setiabudi
Jakarta
Selatan 12950
Indonesia
Phones -
(62-21) 5794 8283 (hunting)
Fax - (62-21) 5794 8285
Building Area - 28 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
18
June 2008
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The
Ministry of Law and Human Rights
a.
No. AHU-25032.AH.01.02.Tahun 2009
Dated 08 June 2009
b.
No. AHU-AH.01.10-13446
Dated 19 August 2009
Company
Status :
National
Private Company
Permit
by the Government Department :
The
Department of Finance
NPWP
No. 02.672.421.1-063.000
Related/Affiliated
Company:
HEXAMATICS
SERVCOMM SDN. BHD. of Malaysia (Investment Holding)
Capital
Structure :
Authorized Capital - US$. 200,000.- (Rp.
1,840,000,000.-)
Issued Capital - US$. 100,000.- (Rp. 920,000,000.-)
Paid up Capital - US$. 100,000.-
(Rp. 920,000,000.-)
Shareholders/Owners
:
a. Mr. Thiruchandran Thiruchelvam - US$.
9,000.- ( 9%)
Address : 5 Jl.
18/21, 46000 Petaling Jaya
Selangor, Malaysia
Malaysia
b. Mr. Fakir Chand - US$. 45,000.- (45%)
Address : Jl. Pulau
Matahari Blok A-4/12A
Kembangan, West Jakarta
Indonesia
c. Mr. Ridwan -
US$. 6,000.- ( 6%)
Address : Perum
Citra II K-I/12A
Pegadungan, Kalideres
West Jakarta, Indonesia
d. Hexamatics Servcomm Sdn Bhd - US$. 40,000.- (40%)
Address : 20 – 07,
Level 20, Wisma MPL
Jl. Raya Chulan 5200, Malaysia
Malaysia
Lines of Business
:
Telecommunication Consulting Services
Production
Capacity :
None
Total Investment :
None
Started Operation
:
July 2008
Brand Name :
HEXAMATICS NUSANTARA
Technical
Assistance :
None
Number of Employee
:
12 persons
Marketing Area :
Domestic - 100%
Main Customers :
Corporate and Individual
Market Situation :
Very Competitive
Main
Competitors :
a.
PT. Lintas Teknologi Indonesia
b.
PT. Wahana Cipta Sinatria
c.
PT. Sistech Kharisma
d.
PT. Sigmanet Indonesia
e.
PT. Hyperintel Solutions
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank CIMB NIAGA Tbk
Graha CIMB Niaga Building
Jl. Jend. Sudirman Kav. 58
South Jakarta
Indonesia
b. The Hong Kong and
Shanghai Banking Corp.
World Trade Center
Jl. Jend. Sudirman Kav. 29-31
South Jakarta
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
Total
Income/Revenues (estimated) :
2012 – Rp. 17.4 billion
2013 – Rp. 19.8 billion
2014 – Rp. 22.5 billion
Net Profit
(estimated) :
2012 – Rp. 2.0 billion
2013 – Rp. 2.3 billion
2014 – Rp. 2.6 billion
Payment Manner :
Average
Financial Comments
:
Fairly
Board of Management :
Director - Mrs. Catharina
Harianto
Board of Commissioner :
President Commissioner - Mrs. Rusmiati
Commissioner - Mrs. Wellyana Carolina
Signatories :
Director (Mrs. Catharina Harinato)
which must be approved by the Board of Commissioners (Mrs. Rusmiati and Mrs.
Wellyana Carolina)
Management Capability :
G o o d
Business Morality :
G o o d
Credit Risk :
Average
P.T. HEXAMATICS NUSANTARA (P.T. HN) was
established in June 2008 in Jakarta. However,
we don’t know the amount of the company’s capital and initial
shareholders. The articles of
association of the company have been changed.
The most recently by notarial deed number 03 dated 27 March 2009 drawn
up by Hamidah Meutiasari, SH., the authorized capital was amounted to US$.200,000 (Rp. 1,840,000,000.-) of
whichUS$.100,000 (Rp. 920,000,000.-) was issued and fully paid up. The shareholders of the company are Mr.
Thiruchandran Thiruchelvam (9%), Mr. Fakir Chand (45%), Mr. Ridwan (6%) and
Hexamatics Servcomm Sdn. Bhd. Of Malaysia (40%). The amendment to deed has been approved by the Minister of Law and Human
Rights of the Republic of Indonesia through its Decree No. AHU-AH.01.10-13446
dated 19 August 2009. Since then, no
changes have been effected in term of its shareholding composition and capital
structures to date.
In accordance with article 3 (three) of the
articles of association contained in the deed of establishment, the scope of
activities of the Company is primarily in trading, developer, industry,
transportation and services. The company
registered office firstly located at Menara Prima, 25th Floor, Jl.
Lingkar Mega Kuningan Blok 6.2, Kuningan Timur, Setiabudi, South Jakarta and
the company can open branch offices or representative offices at home and
abroad.
P.T. HN
was established within the framework of foreign investment (PMA), which has received permit from the Investment Coordinating Board (BKPM) in 2008 in the field of
telecommunication consulting services. P.T.
HN is as a local Indonesia representative for sales and marketing operation on
behalf of Hexamatics Sdn. Bhd., Malaysia. The Company providing
telecommunication services to mobile and fixed network telecom operations and
vendors. Their expertise lies in
telecommunication engineering, construction and maintenance services. The company has extensive experience in RF
engineering, planning, designing, implementing, optimizing and management
telecommunication networks in involving all types of communication
technologies. In its activities, P.T. HN
cooperates with a number of telecommunication providers and vendors such as;
Maxis Mobile, Digi Communications, Nokia Siemens Networks, Huawei Technologies,
ZTE, Ericsson, YTL Communications, Samsung Communications and
Alcatel-Lucent. We observed that P.T. HN
is classified as a small-sized company of its kind in the country of which the
operation has been growing in the last three years.
Generally, the demand for Telecommunication
Services, Business Communication System, Security System and IT Solution
Services has kept on increasing in line with the growth of various industrial
sectors indeed requiring information technology in the country in the last five
years. The competition is very tight on account of many similar information
technology companies operating in the country.
Beside, the local demand for computers had been increasing by 7% to 8%
on the average per annum in the last five years having close relation with the
growth of various industrial sectors such as offices, financial sectors
(banking), educational institutions, telecommunications and other industries in
the above period as consumers. Its
projected the demand will be increasing by 4% to 6% in the next two years in
line with the amelioration of the economic condition in the country. In the
future, the competition is still very tight on account of lots of similar
companies operating in the country.
Until this time P.T. HN has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. The management of
P.T. HN is very reclusive towards outsiders and rejected to disclose its
financial condition. We estimated
that total income or revenues of the company in 2012 amounted to Rp. 17.4 billion
increased to Rp. 19.8 billion in 2013 rose again to Rp. 22.5 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. 2.6 billion and the company has an estimated total
networth of at least Rp. 12.0 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. HN is led by Mr. Thiruchandran
Thiruchelvam (41) as director and CEO of the company. He also as Managing
Director of Hexamatics Servcomm Sdn., Bhd., Malaysia In his daily activities, he is assisted by
his younger brother Mr. Thiruchelvapalan Thiruchelvam (37) as commissioner.
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. HEXAMATICS NUSANTARA is sufficiently
fairly good for business transaction. But
owing to economic condition in the country is still unstable, we recommend to
treat prudently in extending any new loan to the company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.18 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.