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Report No. : |
327290 |
|
Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. LOTUS LINGGA
PRATAMA |
|
|
|
|
Registered Office : |
Kawasan Industri Cimareme, Jalan Industri
Cimareme 1 No. 8, Cimerang, Padalarang, Bandung, 40553, West Java |
|
|
|
|
Country : |
Indonesia |
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|
|
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Date of Incorporation : |
05.05.1998 |
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|
|
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Com. Reg. No.: |
AHU-AH.01.10-06521 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
LINE OF BUSINESS : |
MANUFACTURING OF GOLD JEWELRY. |
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|
|
No. of Employees : |
370 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 |
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Status : |
Satisfactory |
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|
|
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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 |
|
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 |
Name
of Company :
P.T. LOTUS LINGGA PRATAMA
A
d d r e s s :
Head
Office & Factory
Kawasan
Industri Cimareme
Jalan
Industri Cimareme 1 No. 8
Cimerang,
Padalarang
Bandung,
40553
West
Java
Indonesia
Phones - (62-22) 6864616, 6864617
Fax -
(62-22) 6864619
E-mail - info@llpgold.com
Website - http://www.llpgold.com
Land Area - 9,000 sq. meters
Building Space - 6,500 sq. meters
Region - Industrial Zone
Status - Owned
Date of Incorporation :
5
May 1998
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The
Ministry of Law and Human Rights
- No. C2-15283.HT.01.01.TH.98
Dated 25 September 1998
- No. AHU-50812.AH.01.02.TH.2012
Dated 28 September 2012
- No. AHU-AH.01.10-06521
Dated 26 February 2013
Company
Status :
National
Private Company
Permit
by the Government Department :
The
Department of Finance
NPWP
No. 01.827.384.7-423.000
The
Department of Industry and Trade
TDP
No. 10241601405
Dated
31 December 1998
Related
Company :
None
Capital
Structure :
Authorized
Capital : Rp.
10,000,000,000.-
Issued
Capital :
Rp. 10,000,000,000.-
Paid
up Capital :
Rp. 10,000,000,000.-
Shareholders/Owners
:
a.
Mr. Andrianto Sylviano -
Rp. 2,500,000,000.-
Address : Jl.
Veteran No. 9
Kelurahan Kebon Pisang, Kecamatan Sumur
Bandung, Bandung, West Java
Indonesia
b.
Mr. Ivan Wibawa Lingga -
Rp. 2,500,000,000.-
Address :
Jl. Sunda No. 55, RT. 10 RW. 07
Kelurahan Kebon Pisang, Kecamatan Sumur
Bandung, Bandung, West Java
Indonesia
c.
Mrs. Nidia Melissa Lingga -
Rp. 1,250,000,000.-
Address : Jl. Raden
Patah No. 2, RT. 02 RW. 08
Kelurahan Lebak Gede, Kecamatan
Coblong, Bandung, West Java
Indonesia
d.
Mrs. Luciany Sylviano - Rp. 1,250,000,000.-
Address :
Jl. Veteran No. 9
Kelurahan Kebon Pisang, Kecamatan Sumur
Bandung, Bandung, West Java
Indonesia
e.
Mr. Lukman Lingga -
Rp. 1,250,000,000.-
Address : Jl. Sunda
No. 55, RT. 10 RW. 07
Kelurahan Kebon Pisang, Kecamatan Sumur
Bandung, Bandung, West Java
Indonesia
f.
Mr. Zacharius Sylviano -
Rp. 1,250,000,000.-
Address :
Jl. Veteran No. 9
Kelurahan Kebon Pisang, Kecamatan Sumur
Bandung, Bandung, West Java
Indonesia
Lines of Business :
Gold Jewelry
Manufacturing
Production Capacity :
a. Bangle -
320 KG
b. Necklace -
400 KG
c. Pendant -
350 KG
d. Rings -
350 KG
Total Investment :
Owned Capital - Rp. 10.0
billion
Started Operation :
1998
Brand Name :
Lotus Lingga Pratama
Technical Assistance
:
None
Number of Employee :
370 persons
Marketing Area :
Local - 35%
Export - 65%
Main Customer :
Trader and shops of
jewelry
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 REASI
CIPTA LOGAM
e. P.T. UNTUNG
BERSAMA SEJAHTERA
Business Trend :
Growing
B
a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Account No. 777 171 8900
Jalan Ir. H. Juanda No. 66
Bandung, West Java
b. P.T. Bank MANDIRI Tbk
Jalan Ir. H. Juanda No. 30
Bandung, West Java
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
Annual
Sales (estimated) :
2012
– Rp. 146.0 billion
2013
– Rp. 153.0 billion
2014
– Rp. 165.0 billion
Net
Profit (estimated) :
2012
– Rp. 10.2 billion
2013
– Rp. 11.0 billion
2014
– Rp. 11.8 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Lukman Lingga AKA Lim Lie Lung
Directors -
a. Mr. Ivan Wibawa Lingga
b. Mr. Andrianto Sylviano
Board of Commissioners :
President Commissioner - Mr. Zacharius Sylviano
Commissioners - a. Mrs. Nidia Melissa Lingga
b. Mrs. Luciany Sylviano
Signatories :
President
Director (Mr. Lukman Lingga AKA Lim Lie Lung) or one of the Directors (Mr. Ivan
Wibawa Lingga or Mr. Andrianto Sylviano) which must be approved by Board of
Commissioner
Management Capability :
Good
Business Morality :
Good
Based on search and investigation the correct name of the
Subject is P.T. LOTUS LINGGA PRATAMA not P.T. LOTUS LINGAA PRATAMA as stated in
your order ref. no. 327290 dated 12 June 2015.
P.T. LOTUS LINGGA PRATAMA (P.T. LLP) was established in
Jakarta based on notary deed Mrs. Ayu Maimunah, SH., no. 1 dated 5 May 1998
with an authorized capital of Rp. 200,000,000 wholly issued and paid up. The
founding and shareholders of the company are Mr. Lukman Lingga AKA Lim Lie
Lung, Mrs. Nidia Melissa Lingga, Mrs. Nurhayati Dikusuma and Mrs. Lie Jin
Joeng, they are Indonesian businessmen of Chinese extraction. Its article of
association had been changed a couple of times. In August 2012 the company
authorized capital was increased to Rp. 10,000,000,000 wholly issued and paid
up. On the same occasion Mrs. Nurhayati Dikusuma and Mrs. Lie Jin Joeng pulled
out and into the company entered by Mrs. Luciani Sylviano, Mr. Ivan Wibawa
Lingga, Mr. Zacharius Sylviano and Mr. Andrianto Sylviano as new shareholders. With
this development the composition of its shareholders has been changed to become
Mr. Ivan Wibawa Lingga (25.0%), Mr. Andrianto Sylviano (25.0%), Mrs. Nidia
Melissa Lingga (12.5%), Mrs. Luciany Sylviano (12.5%), Mr. Lukman Lingga AKA
Lim Lie Lung (12.5%) and Mr. Zacharius Sylviano (12.5%). The latest according
to revision of notary deed Mrs. Ayu Maimunah, SH., no. 1 dated 2 January 2013
the company board of director and the board of commissioner has been
restructured. The deed of amendments was approved by the Ministry of Law and
Human Rights in its decision letter No. AHU-AH.01.10-06521 dated February 26,
2013.
P.T. LLP is a national private company started with
operating since 1998 dealing with gold jewelry manufacturing. Its plant is
located at Kawasan Industri Cimareme, Jalan Industri Cimareme 1 No. 8,
Padalarang, West Java standing on a land of 9,000 sq. meters. The company took
over LLP activity which operates in 1975 as home industry specializing in gold
jewelry design and manufacturing. P.T. LLP is headquartered in Bandung,
Indonesia with its production unit on site and branch offices in various areas
in Indonesia. Numerous developments to this thriving, privately-owned business
throughout the span of four decades have enabled the company to expand its
capacity incrementally, and also to widen its market base immensely. The
company produces various kinds of products among others are Bangle, Necklace,
Pendant, Rings etc. The raw material consists of gold, silver and copper with
boric acid auxiliary materials (HBR). According information most of raw
materials is obtained from locals. Mr. Ivan Wibawa Lingga, Director of the
company explained some 35% of the products marketed locally through trader and
shops of gold and jewelry in the country. Meanwhile some 65% of the products is
exported to various countries. P.T. LLP is a globally-oriented company whose
export markets include various countries in Asia, the Middle East, and the
United States. P.T. LLP is a registered member of the World Gold Council and
Asosiasi Pengusaha Emas dan Permata Indonesia (APEPI). We observe that P.T. LLP
has been growing and running smoothly 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. LLP 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. LLP has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. LLP 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. 146.0 billion increased to Rp.
153.0 billion in 2013 rose to Rp. 165.0 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. 11.8 billion and the company has an estimated total
networth of at least Rp. 25.0 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. LLP is led by Mr. Lukman Lingga
AKA Lim Lie Lung (55) a businessman with experience in gold jewelry
manufacturing. In daily activity he is assisted by Mr. Ivan Wibawa Lingga (26)
and Mr. Andrianto Sylviano (37) as Directors. 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. LOTUS LINGGA PRATAMA is sufficiently fairly good for
business cooperation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.15 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.