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Report No. : |
339789 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. SURGIKA ALKESINDO |
|
|
|
|
Registered Office : |
Jalan
Letjend. Suprapto No. 60, Gedung Indra Sentral Unit G-H, Jakarta Pusat, 10520 |
|
|
|
|
Country : |
Indonesia
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|
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Date of Incorporation : |
31.01.2000 |
|
|
|
|
Com. Reg. No.: |
AHU-AH.01.10-23298 |
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|
|
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Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Trading,
Distribution and Supply of Medical Equipment |
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|
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|
No. of Employees : |
27 |
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 |
|
Maximum Credit Limit : |
US$ 264,000 |
|
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.
SURGIKA ALKESINDO
A
d d r e s s :
Head Office
Jalan
Letjend. Suprapto No. 60
Gedung
Indra Sentral Unit G-H
Jakarta
Pusat, 10520
Indonesia
Phones -
(62-21) 425 3634 (Hunting)
Fax - (62-21) 425 3635
E-mail - info@surgika.com
Website - http://www.surgika.com
Building Area - 2 storey
Office Space - 120 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
31
January 2000
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
No.
AHU-AH.01.10-23298
Dated
23 December 2009
Company
Status :
National
Private Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 01.899.639.7-073.000
The Department of Industry and Trade
TDP
No. 09.05.1.51.39559
Dated
6 September 2000
Related
Company :
P.T.
MEGAH ALKESINDO (Trading and Distribution of Medical Equipment)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital : Rp.
700,000,000.-
Issued
Capital :
Rp. 700,000,000.-
Paid
up Capital :
Rp. 700,000,000.-
Shareholders/Owners
:
a. Mr. Dr. Handy Gunawan -
Rp. 280,000,000.-
Address : Jl. Pademangan II/16, RT. 001 RW. 001
Kelurahan Pademangan Barat, Kecamatan
Pademangan, Jakarta Utara
Indonesia
b. Mrs. Meilani Margaoei -
Rp. 210,000,000.-
Address :
Jl. Pademangan II/16, RT. 001 RW. 001
Kelurahan Pademangan Barat, Kecamatan
Pademangan, Jakarta Utara
Indonesia
c. Mrs. Wanny Surja Prijana -
Rp. 210,000,000.-
Address :
Cipinang Jaya LL No. 13, RT. 001 RW. 007
Kelurahan Cipinang Besar Selatan, Kecamatan
Jatinegara, Jakarta Timur
Indonesia
BUSINESS ACTIVITIES
|
Lines of Business :
Trading, Distribution
and Supply of Medical Equipment
Production Capacity :
None
Total Investment :
None
Started Operation :
2000
Brand Name :
Surgika Alkesindo
Technical Assistance
:
None
Number of Employee :
27 persons
Marketing Area :
Local - 100%
Main Customer :
Hospital and Medical
Check Up
Market Situation :
Very Competitive
Main Competitors :
a. P.T. ATRA WIDIYA
AGUNG
b. C.V. GOLDEN STAR
c. P.T. HIDUP SEHAT
BERMAKNA
d. P.T. LEBAH LESTARI
PRIMA
e. Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
|
B
a n k e r :
P.T.
Bank CENTRAL ASIA Tbk
Jalan
Letjend. Suprapto
Cempaka
Putih
Jakarta
Pusat
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL
FIGURE
|
Annual
Sales (estimated) :
2012
– Rp. 27.2 billion
2013
– Rp. 28.8 billion
2014
– Rp. 29.6 billion
Net
Profit (estimated) :
2012
– Rp. 1.7 billion
2013
– Rp. 1.9 billion
2014
– Rp. 2.1 billion
Payment
Manner :
Average
Financial
Comments :
Satisfactory
KEY
EXECUTIVES
|
Board of Management :
Director - Mr. Dr. Handy Gunawan
Board of Commissioners :
President Commissioner - Mrs. Meilani Margoei
Commissioner - Mrs. Wanny Surja Prijana
Signatories :
Director
(Mr. Dr. Handy Gunawan) which must be approved by Board of Commissioner
CAPABILITIES
|
Management Capability :
Good
Business Morality :
Good
Maximum Credit Limit :
US$
264,000 on 90 days D/A
OVERALL PERFORMANCE
|
P.T. SURGIKA ALKESINDO (P.T. SA) was established in Jakarta
on January 31, 2000 with the authorized capital of Rp. 500,000,000 issued
capital of Rp. 200,000,000 fully and paid up. The company was founded by Mr.
Dr. Handy Gunawan, his wife Mrs. Meilani Margoei and Mrs. Leony Gunawan, the
three are Indonesian business family of Chinese extraction. The company notary
deed has been changed a couple of times. In August 2008, the authorized capital
was increased to Rp. 700,000,000 entirely issued and paid up. Later in November
2008, the company activity has been shifted from trading and distribution into
trading and distribution of medical, services and industry, export import.
The latest in December 2009 Mrs. Leony Gunawan pulled out
and the whole share sold to Mrs. Wanny Surja Prijana as new shareholder. With
this time the composition of its shareholders has been changed to become Mr.
Dr. Handy Gunawan (40%) his wife Mrs. Meilani Margoei (30%) and Mrs. Wanny
Surja Prijana (30%). The latest revision of notary document was made by Mrs.
Hilda Sari Gunawan, SH., was approved by the Ministry of Law and Human Right in
its Decision Letter No. AHU-AH.01.10-23298, dated December 23, 2009.
P.T. SA has been in operation since 2000 dealing with
trading and distribution of medical equipment. In its operation, the company sells
various medical equipment such as I.C.U. Equipment ranging from ventilator
& pulse oxymeter, suction pump, airway management, Midray China Patient
Monitoring System, hospital bed & furniture; Operating Theatre ranging from
Suture, electrosurgical products, suction pump, anaesthesia machine, autoclave,
sterile gloves, endoscopies instrument, pulse oxymeter, airway management, C02
absorber; OG3 including Richard wolf, endoscopies instrument, etc. P.T. SA is
an authorized distributor for ATMOS Medicine Technik GmbH & Co., KG,
Germany, LISA Laser Product OHG, HEINE, AMAN Opthalmic Instrument, MEDI
Bayreuth, RICHARD WOLF all of Germany; ANMEDIC AB of Sweden; TUTTNAEUR CO.,
LTD., The Ludlow Company LP, NELLCOR Puritan Bennett, VALLEYLAB, Tyco Healthcare
Group LLP all of the USA; Chang Gung Medical Supplier & Equipment
Corporation, Mediland Enterprise Corporation both of Taiwan; SHENZHEN Mindray
Bio-Medical Electronics Co., Ltd., of People Republic of China; WRP ASIA
Pacific Sdn. Bhd., of Malaysia; SUMI Zaklad Torzyw Sztucznych K. Rek, A.
Krzanowski, Poland; Chang Gung Medical of Taiwan; and others. The whole
merchandise products are sold to various hospitals, health clinics, maternity
hospitals in Jakarta, Bandung, Semarang, Yogyakarta, Surabaya, Bali, Medan, Pekanbaru,
Padang, Palembang, Lampung, Samarinda, Balikpapan, Banjarmasin, Pontianak,
Batam, Manado and other cities in the country. P.T. SA is classified as a
medium sized company of its kind in the country of which the operation has been
growing in the last three years.
Generally, demand for laboratory and medical equipment
and various pharmaceutical products had been growing in the last five years.
Indonesian pharmaceutical market is still attractive for investment, both for
local and foreign investors. This is driven by the growth of national
pharmaceutical market that has been rising far above the average growth of the
national economy for more than five years. In addition to the aforementioned
growth factor, appealing factor of Indonesian pharmaceutical market lays in the
lucrative prospect of constantly developing healthcare industry along with
stronger purchasing power of the public and stronger awareness of health care,
which has contributed to the increasing spending allocated for health sector. The
growth of health care infrastructure such as hospitals, pharmacies, community
health centers, clinics, private medical practices and drug stores that spread
mostly across the region becomes a clear indication that health care facilities
become a very important part for the community. This condition is a prospective
opportunity for the pharmaceutical industry to develop its business in a larger
scale to meet the need of drugs for health care services in all types of
available facilities.
The growth of the market and the pharmaceutical industry
is driven by two main factors, namely the increasing number of drug consumption
by the public and the increasing supply of new products launched by
manufacturers or principal. The increasing amount of consumption and the
addition of new product launched give direct effect on the increasing number of
production and supply of the products as a whole. In the lower middle-class
society, the increasing consumption occurs due to the opening of public access
to health care products and services through health insurance program. This
program directly links between unfortunate communities with health care and
medical expenses. As for the upper middle class, rising incomes have a
significant impact on the change of drug consumption patterns. Self-medication
becomes an integral part of people's daily activities as a result of demanding
lifestyle for a healthier life as demanded. This awareness exists in certain
groups of population. The business position of P.T. SA is a sufficiently fairly
good because the company has captive market namely the state-owned hospital and
private hospital in the country. According the BPOM that national
pharmaceutical sales as shown are as the following table.
National Market Trend
of Drugs, 2001-2014* (Billion Rupiah)
|
Year |
Total Market |
Ethical Drugs |
Generic Drugs |
|
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* |
12.850 15.483 17.458 20.872 23.629 23.173 25.600 29.981 33.965 37.531 43.081 45.235 47.949 51.305 |
7.891 9.618 10.829 12.706 14.675 13.834 13.959 16.969 19.225 21.142 23.506 25.281 26.798 28.854 |
1.547 1.694 1.819 2.136 2.529 2.390 2.295 3,213 3.420 3.610 3.900 4.095 4.349 4.653 |
Until this time P.T. SA has not been registered with Indonesian
Stock Exchange, so that they had not obliged to announce their financial
statement. The management of P.T. SA 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. 27.2 billion increased to Rp.
28.8 billion in 2013 rose to Rp. 29.6 billion in 2014 and projected to go on
rising by at least 5% in 2015. The operation in 2014 yielded an estimated net
profit of at least Rp. 2.1 billion and the company has an estimated total
networth of at least Rp. 3.0 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. SA is led by Mr. Dr. Handy Gunawan
(49) a businessman and professional manager with experience in trading, import
and distribution of medial equipment. 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. SURGIKA ALKESINDO is sufficiently fairly good for business cooperation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.60 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.