|
Report No. : |
341512 |
|
Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. SANGHIANG PERKASA |
|
|
|
|
Registered Office : |
Gedung Graha Kirana, 5th Floor, Suite 501, Jalan Yos Sudarso Kav. 88, Sunter, Jakarta Timur 14350 |
|
|
|
|
Country : |
Indonesia
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
02.12.1982 |
|
|
|
|
Com. Reg. No.: |
AHU-0069163.40.80.2014 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Health Food Drink Manufacturing · Investment Holding by controlling 99.95% shares of PT. Karsa Lintas Buwana |
|
|
|
|
No. of Employees : |
909 |
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 – 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.
SANGHIANG PERKASA
A d d r e s s :
Head
Office
Gedung Graha Kirana,
5th Floor, Suite 501
Jalan Yos Sudarso
Kav. 88
Sunter, Jakarta Timur
14350
Indonesia
PO Box - 1147/JAT- Jakarta 13000
Phones -
(62-21) 65311342 (hunting)
F a x -
(62-21) 65311213
Website -
http://www.kalbenutritional.com
E-Mail -
info@kablenutritional.com
Factory
Jalan Raya Bekasi Km.
25
Cakung, Jakarta 13930
Indonesia
Phones -
(62-21) 4600165 (hunting)
F a x -
(62-21) 4600166
Marketing
Office
Enseval II Building,
3rd Floor
Jalan Pulo Lentur No.
10
Pulogadung, Jakarta
13930
Indonesia
Phones -
(62-21) 4604045 (hunting)
F a x -
(62-21) 4610436
Date of
Incorporation :
02 December 1982
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of
Law and Human Rights
a. No. C2-3197.HT.01.01.TH.83
Dated 19 April 1983
b. No. AHU-AH.01.10-21222
Dated 25 November 2009
c. No. AHU-0069163.40.80.2014
Dated 07 July 2014
Company Status :
National Private Company
Permits by the
Government Department :
a. The Department
of Finance
NPWP No. 01.368.835.3-092.000
b. The Department
of Industry and Trade
No. 461/DJAI/IUT-1/Non
PMA-PMDN/1989
Dated 08 November 1989
Parent Company :
P.T. KALBE FARMA Tbk (Investment Holding)
A company member of the KALBE FARMA Group
CAPITAL AND OWNERSHIP
|
Capital Structure
:
Authorized Capital - Rp.
100,000,000,000.-
Issued Capital -
Rp. 30,000,000,000.-
Paid up Capital -
Rp. 30,000,000,000.-
Shareholders/Owners
:
a. P.T. KALBE FARMA Tbk - Rp. 29,999,000,000.-
(99.997%)
Address : Jl. Jend. A. Yani
Kel. Pulomas,
Pulogadung
East Jakarta
b. P.T. BIFARMA ADILUHUNG - Rp. 1,000,000.- ( 0.003%)
Address : Jl. Jend. Suprapto
L/10-K
Kel. Kemayoran
Central
Jakarta
BUSINESS ACTIVITIES
|
Lines of Business:
a. Health Food Drink Manufacturing
b. Investment Holding by controlling 99.95%
shares of PT. Karsa Lintas Buwana
Production
Capacity:
Health Food Drinks - 480
tons p.a.
Total Investment :
a. Owned Capital -
Rp. 30.0 billion
b. Loan Capital - Rp.
70.0 billion
c. Total Investment - Rp. 100.0 billion
Started Operation
:
1983
Brand Name :
PRENAGEN, PRENAMIL, MORINAGA and CHILL MILL Brands
Technical
Assistance :
MORINAGA Milk Industry Co. Ltd., of Japan
Number of Employee
:
909 persons
Marketing Area :
Domestic (Local) - 70%
Export -
30%
Main Customers :
a. Hospitals
b. Drugstores
c. Dispensaries
d. Retail Shops
e. Etc.
Market Situation :
Very Competitive
Main Competitors :
a. P.T. Sari Husada Tbk
b. P.T. Nutrifood Indonesia
c. P.T. Nova Chemie Utama
d. P.T. Sari Enesis Indah
e. P.T. Sukses Abadi Farmindo
f. P.T.
Citra Nusa Insan Cemerlang
g. Etc.
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Jalan Jend. A. Yani No. 2
Jakarta Timur
b. CITIBANK N.A.
Landmark Building
Jalan Jend. Sudirman No.
1
Jakarta Pusat
c. P.T. Bank CENTRAL
ASIA Tbk
Jalan M.H. Thamrin No.
12
Jakarta Pusat
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL FIGURE
|
Annual Sales
(estimated) :
2012 – Rp. 3,230.0 billion
2013 – Rp. 3,919.8 billion
2014 – Rp. 4,727.9 billion
2015 – Rp. 2,560.0 billion (as of 30 June)
Net Profit
(estimated) :
2012 – Rp. 518.0 billion
2013 – Rp. 629.7 billion
2014 – Rp. 623.3 billion
2015 – Rp. 337.0 billion (as of 30 June)
Total
Assets (estimated) :
2012
– Rp. 1,457.0 billion
2013
– Rp. 1,994.9 billion
2014
– Rp. 2,510.2 billion
2015
– Rp. 2,540.0 billion (as of 30 June)
Payment Manner :
Almost promptly
Financial Comments
:
Strong and sound
KEY EXECUTIVES
|
Board
of Management :
President Director -
Mrs. Bernadetta Ruth Irawati Setiady, MSc
Director - Mr. Ongkie Tedjasurja
Board of Commissioner
:
President Commissioner - Mr.
Ir. Budhi Dharma Wreksoatmodjo
Commissioner -
Mr. Sie Djohan
Signatories :
President
Director (Mrs. Bernadeta Ruth Irawati Setiady, MSc.) or Director (Mr. Ongkie
Tedjasurja) which must be approved by the Board of Commissioners (Mr. Ir. Budhi
Dharma Wreksoatmodjo or Mr. Sie Djohan)
CAPABILITIES
|
Management Capability
:
Good
Business Morality :
Good
OVERALL PERFORMANCE
|
P.T. SANGHIANG PERKASA (P.T. SP) was established in Jakarta
based on Notary Deed No. 8 dated December 2, 1982 drawn up by Arianny Lamoen
Redjo, SH., with an initial authorized capital of Rp 10,000,000.- issued
capital of Rp 2,000,000.- wholly paid-up. The original founders and
shareholders are Mrs. Masitah, SH. and Mrs. Lannie Kesuma, SH. The Deed of establishment was approved by the
Minister of Justice of the Republic of Indonesia through its Decree No.
C2-3197.HT.01.01.TH.83 dated April 19, 1983.
Its articles of association have subsequently been
revised for several times. In February 1992, the authorized was capital
increased to Rp 5,000,000,000.- issued capital to Rp 1,000,000,000.- wholly
paid-up and concurrently its entire founders and owners quitted and their
shares entirely went over to P.T. HELIOS ARYA PUTRA (a private company), Dr.
Boenjamin Setiawan AKA Khouw Lip Boen and Mr. Ir. Budi Dharma Wreksoatmodjo.
The later two are Indonesian businessmen of Chinese extraction. In September
1997 the authorized capital was raised again to Rp 10,000,000,000.-, issued and
paid up capital to Rp 5,000,000,000.-. Concurrently Mr. Ir. Budi Dharma
Wreksoatmodjo and Dr. Boenjamin Setiawan resigned as shareholders and they were
replaced by P.T. KALBE FARMA Tbk.
In 2001, the authorized capital was raised to Rp. 20,000,000,000
of which Rp. 13,500,000,000 was issued and fully paid up. In November 2004, P.T. HELIOS ARYA PUTRA a
sister company of P.T. SP merged into P.T. SP (survived company). In line with
the merging process, the authorized capital was raised to Rp. 100,000,000,000
of which Rp. 30,000,000,000 was issued and fully paid up and since that time
the majority shares of P.T. SP have been controlled by P.T. KALBE FARMA Tbk.
(99.997%) and P.T. BIFARMA ADILUHUNG (0.003%).
This Articles of Association
amendment was approved by the Minister of Law and Human Rights of the Republic
of Indonesia by virtue of Decision Letter No. AHU-AH.01.10-21222 dated
November 25, 2009.
The most recently by Notary Deed No. 1 dated July 2, 2014
of Achmad Bajumi, SH., concerning the change in composition of the Company’s
board of Commissioners and Directors.
This amendment to Deed has been approved by the Minister
of Law and Human Rights of the Republic of Indonesia through Decree No.
AHU-0069163.40.80.2014 dated July 7, 2014. Since then, no changes have been
effected in term of its shareholding composition and capital structure to date.
P.T. KALBE FARMA
is the parent company of the KALBE FARMA Group, a group of major companies
in industrial and distribution of
pharmaceutical products in the country. Group is
led by Dr. Boenjamin Setiawan AKA
Khouw Lip Boen
(72) and in the daily
activities he assisted by Mrs. Bernadetta
Ruth Irawati Setiady,
MSc. (53).
P.T. SP known by its trading style “Kalbe Nutritionals” has
been operating since 1983 dealing with the formula milk and baby
food industry. Its plant is located at Jalan Raya Bekasi Km.25, Cakung, East
Jakarta by producing formula milk specially for pregnant and feeding mother and
for under five-year kids. The product is marketed by using PRENAGEN, PRENAMIL,
MORINAGA and CHILL MILL brands while for baby food is marketed with PREDA and
MILNA brands. All products are sold in various containers and sizes, such as in
sachet, box and can with sizes 25 grm, 100 grm, 150 grm, 200 grm and 400 grm.
It used to produce baby food and porridge with FARLEY brand, but since 1997 it
was handed over to P.T. ARNOTT'S INDONESIA.
Some 40% of basic stuff for milk is imported from New
Zealand, Switzerland and the Netherlands, while for baby food basic stuff is
imported from other countries of some 20%. Some 60% of machineries is imported
from the USA, Germany, Denmark, Japan, Switzerland, etc. All products of P.T.
SP are marketed locally through distributor, P.T. ENSEVAL PUTRA MEGATRADING
which is also as its sister company. Today,
some 30% of the products are exported to Sri Lanka, Vietnam, Malaysia and
several other Asian countries. The operation of P.T. SP has been running
smoothly in the last three years in line with its growing operational networks
and wide product marketing coverage within and outside the country. Besides,
the product brand of the company has widely been popular among customers. In addition, P.T. SP engaged in investment
holding by controlling 99.95% shares of P.T. KARSA LINTAS BUWANA is engaged in
advertizing services. We observed that P.T. SP is classified as a large
sized company of its kind in the country of which the operation has been
growing in the last three years.
According to statement of financial
position, the total sales or income of P.T. SANGHIANG PERKASA (PT. SP) in
fiscal 2013 amounted to Rp. 3,919.8 billion with a net profit of Rp. 629.7
billion increased to Rp. 4,727.9 billion with a net profit of Rp. 623.3 billion
in 2014. The company’s statement of
financial position and statement of income in fiscal 2013 and 2014 are
attached. Up to present, we have yet
to gain the statement of income of P.T. SP in fiscal 2015. It is projected that total sales turnover
of the company will increase at least 8% in 2015. So far we did not hear that the P.T. SP has
been black listed by Bank Indonesia (Central Bank) or having detrimental cases
being settled in local district court.
The company usually pays its debts punctually to suppliers.
a. Criminal
Check
Based information from Jakarta District
Police P.T. SANGHIANG PERKASA has never involved in criminal report. Therefore
there is no criminal report that registered on the name of P.T. SANGHIANG PERKASA.
b. Bankruptcy
Check
We have observed to the Commercial Court in
Indonesia, there is no bankruptcy report that registered on the name of P.T.
SANGHIANG PERKASA. No found nationwide for the previous several years.
c. Past
and Current Litigations
We have observed to the Court in Indonesia,
there is no litigation report that registered on the name of the Subject. P.T.
SANGHIANG PERKASA is not engaged in any material litigation, claims and/or
arbitration, either as plaintiff or defendant and has no knowledge of any
proceedings, pending or threatened, or of any facts likely to give rise to any
proceedings which might materially and adversely affect the financial position
of business of companies.
No detrimental were found with the applicant
involved during the investigation. Based on some information from some reliable
sources, no detrimental records were found with the applicant involved during
the investigation. The company’s
litigation record is clean and it has not registered with the black list of
Bank of Indonesia.
The management is headed by Mrs. Bernadetta Ruth Irawati
Setiady MSc, (53) a professional manager with experience for more than 25 years
in baby milk and food industry. She
earned a Master’s of Science Degree from the Faculty of Food Science, Cornell
University Ithaca, New York, in 1986. Mrs. Setiady is also as president
director of P.T. KALBE FARMA Tbk., holding company of the KALBE FARMA
Group. In daily activities Mrs. Setiady
is assisted by Mr. Ongkie Tedjasurja (56) as director. Mr. Tedjasurja holds a
Master in Business Administration degree from Monash University, Mt. Eliza
Business School Australia in 1996 and graduated from Columbia University,
Columbia Business School Executive Education, USA in 2001. The management is
also handled by a number of professional managers in this business, having
maintained a wide business relation among private businessmen at home and
abroad. As far as business is concerned
the management of P.T. SP has never involved in any fraudulent dealings being
settled in the court.
P.T. SANGHIANG PERKASA is sufficiently
fairly good for business transaction.
However, in view of the economic condition in the country is still
unstable and slowdown, we recommend to treat prudently in extending any new
loan to the company.
PT. SANGHIANG
PERKASA AND ITS SUBSIDIARIES
STATEMENTS
OF FINANCIAL POSITION
31
December 2014 And 2013
(in million IDR)
|
D E S C R I P T I O N |
31 December |
|
|
2014 |
2013 |
|
|
ASSETS |
|
|
|
a. Current
Assets |
|
|
|
- Cash and cash equivalents |
22,133.1 |
170,011.3 |
|
- Trade receivables |
|
|
|
* Related parties |
897,419.1 |
776,193.3 |
|
* Third parties |
1,275.8 |
1,192.0 |
|
- Other current financial
assets |
|
|
|
* Related parties |
75.3 |
802.1 |
|
* Third parties |
1,808.5 |
1,003.9 |
|
- Inventories |
750,495.2 |
746,471.4 |
|
- Prepaid taxes |
30.1 |
-- |
|
- Down payment |
92,922.1 |
137,535.9 |
|
- Other current assets |
33,337.4 |
29,249.1 |
|
Total Current Assets |
1,799,496.6 |
1,862,459.0 |
|
b. Non Current
Assets |
|
|
|
- Fixed assets, net |
274,192.3 |
114,649.4 |
|
- Other non-current financial assets |
6,227.0 |
3,286.8 |
|
- Deferred tax assets |
4,052.6 |
3,563.3 |
|
- Other non-current assets |
36,279.9 |
10,927.8 |
|
Total Non Current Assets |
320,751.8 |
132,427.3 |
|
TOTAL ASSETS = TOTAL
LIABILITIES AND EQUITY |
2,120,248.4 |
1,994,886.3 |
|
LIABILITIES AND
EQUITY |
|
|
|
a. Current
Liabilities |
|
|
|
- Short-term bank loans |
36,314.3 |
273,419.3 |
|
- Trade payables |
|
|
|
* Related parties |
60,686.5 |
28,323.7 |
|
* Third parties |
197,619.7 |
263,297.3 |
|
- Other short-term financial
liabilities |
|
|
|
* Related parties |
3,357.6 |
5,185.0 |
|
* Third parties |
101,987.0 |
99,078.0 |
|
- Tax payable |
42,130.8 |
58,336.6 |
|
- Accrued expenses |
210,179.0 |
170,106.6 |
|
Total Current Liabilities |
652,275.0 |
897,746.4 |
|
b. Non Current
Liabilities |
|
|
|
- Deferred tax liabilities |
1.5 |
-- |
|
- Post-employment benefits
obligations |
17,867.1 |
18,294.7 |
|
Total Non Current Liabilities |
17,868.6 |
18,294.7 |
|
c. Equity |
|
|
|
- Share capital: Issued and
paid up capital |
30,000.0 |
30,000.0 |
|
- Retained Earnings |
1,420,103.4 |
1,048,845.1 |
|
- Non-controlling interest |
1.4 |
-- |
|
Total Equity |
1,450,104.9 |
1,078,845.1 |
|
STATEMENT OF
INCOME |
|
|
|
Net Sales |
4,727,892.3 |
3,919,821.7 |
|
Cost of Goods sold |
(2,300,154.3) |
(1,716,672.2) |
|
Gross Profit |
2,427,737.9 |
2,203,149.5 |
|
Operating Expenses |
(1,569,386.8) |
(1,354,819.7) |
|
Operating Income |
858,351.1 |
848,329.8 |
|
Other Income (Expenses) |
(24,845.8) |
(7,197.7) |
|
Profit Before Income Tax |
833,505.3 |
841,132.1 |
|
Income Tax Expense |
(210,247.6) |
(211,438.9) |
|
Net Profit |
623,257.7 |
629,693.3 |
Notes: Audited by Aryanto, Amir Jusuf, mawar &
Saptoto (Registered Public Accountants)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.63 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.