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MIRA INFORM REPORT
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Report No. : |
505817 |
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Report Date : |
24.04.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. PRATAMABINA MEDITAMA |
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Formerly Known As : |
P.T. PRATAMA BINA MEDIK |
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Registered Office : |
Graha Niaga Building 5th Floor,
Jalan Putri Hijau No. 20, Karang Berombak, Medan Barat, Medan, 20115, North
Sumatera |
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Country : |
Indonesia |
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Date of Incorporation : |
11.03.1994 |
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Com. Reg. No.: |
AHU-AH.01.03-0150443 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Trading and
Distribution of Marine Engine Equipment · Shipping Agency |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Indonesia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, the largest economy in Southeast Asia, 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. Indonesia’s annual budget deficit is capped at 3% of GDP, and the Government of Indonesia lowered its debt-to-GDP ratio from a peak of 100% shortly after the Asian financial crisis in 1999 to 33% today. While Fitch and Moody's Investors upgraded Indonesia's credit rating to investment grade in December 2011, Standard & Poor’s has yet to raise Indonesia’s rating to this status amid several constraints to foreign direct investment in the country, such as a high level of protectionism.
Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among its regions. President Joko WIDODO - elected in July 2014 – seeks to develop Indonesia’s maritime resources and pursue other infrastructure development, including significantly increasing its electrical power generation capacity. Fuel subsidies were significantly reduced in early 2015, a move which has helped the government redirect its spending to 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 has not yet materialized.
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Source : CIA |
Name
of Company
P.T. PRATAMABINA MEDITAMA
Address
Head Office
Graha Niaga Building 5th Floor
Jalan Putri Hijau No. 20
Karang Berombak, Medan Barat
Medan, 20115
North Sumatera
Indonesia
Phone -
(62-61) 4514 789
Fax - (62-61) 4514 789
E-mail - shipdeptgen@gmail.com
Building Area - 6 storey
Office Space - 80 sq. meters
Region - Commercial
Status - Rent
Company
summary
Date of Incorporation
:
a. 11
March 1994 as P.T. PRATAMA BINA MEDIK
b. 10
August 1994 as P.T. PRATAMABINA MEDITAMA
Legal Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No. :
The Ministry of Law
and Human Rights
- No. C2-13142.HT.01.01.TH.94
Dated 31 August 1994
- No. AHU-45223.AH.01.02.TH.2009
Dated 14 September 2009
- No. AHU-01.10-06183
Dated 28 February 2011
- No. AHU-AH.01.03-0150443
Dated 6 July 2017
Company Status :
National Private Company
Permit by the Government Department :
The Department of
Finance
NPWP No. 01.651.635.3-111.000
Related Company :
None
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp. 100,000,000.-
Issued Capital : Rp. 28,000,000.-
Paid up Capital : Rp.
28,000,000.-
Shareholders/Owners :
a. Mr. Boelio Muliadi -
Rp. 25,000,000.-
Address : Komplek
Villa Polonia Indah No. 68
Kelurahan Suka Damai,
Kecamatan Medan
Polonia, Medan, North
Sumatera
Indonesia
b. Mrs. Soepariny
Muliadi -
Rp. 3,000,000.-
Address : Jl. Ir. H. Juanda No. 20-F
Kelurahan Suka Damai,
Kecamatan Medan
Polonia, Medan, North
Sumatera
Indonesia
BUSINESS
ACTIVITIES
Lines of Business :
a. Trading and Distribution of Marine Engine
Equipment
b. Shipping Agency
Production Capacity :
None
Total Investment :
None
Started Operation :
1994
Brand Name :
Pratamabina Meditama
Technical Assistance
:
None
Number of Employee :
6 persons
Marketing Area :
Local - 100%
Main Customer :
Industrial
manufacturing
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CAHAYA PRATAMA DIESELINDO
b. P.T. DUTA CAHAYA MARINE
c. P.T. GLOBAL MARINE
d. P.T. INDONESIA GLOBAL SERVICES
e. Etc.
Business Trend :
Growing slowly
BANKER,
AUDITOR & LITIGATION
Banker :
P.T. Bank CIMB NIAGA Tbk
Graha Niaga
Jalan Putri Hijau No. 20
Medan, North Sumatera
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2014 – Rp. 2.0 billion
2015 – Rp. 2.5 billion
2016 – Rp. 3.2 billion
Net Profit (estimated) :
2014 – Rp. 140 million
2015 – Rp. 150 million
2016 – Rp. 192 million
Payment Manner :
No complaints
Financial Comments :
Weak
KEY
EXECUTIVES
Board of
Management :
Director - Mr. Andrei Yuanda
Board of
Commissioners :
Commissioner - Mr. Boelio
Muliadi
Signatories
:
Director
(Mr. Andrei Yuanda) which must be approved by Board of Commissioner
CAPABILITIES
Management
Capability :
Fairly
Good
Business Morality
:
Fairly
Good
OVERALL
PERFORMANCE
Originally the company named P.T. PRATAMA BINA MEDIK was
set-up in Medan, North Sumatra on 11 March 1994 with an authorized capital of
Rp. 100,000,000 issued capital of Rp. 28,000,000 entirely paid up. The founding
and shareholders of the company originally were Mr. Boelio Muliadi and Mrs.
Soeriany Muliadi both are Indonesian businessmen of Chinese extraction. Later
on 10 August 1994 the company name was changed into P.T. PRATAMABINA MEDITAMA
(P.T. PBM). Its article of association has been changed a couple of times and
according to revision of notary deed Mrs. Susan Widjaja, SH., no. 6 dated 10
February 2011 Mrs. Soeriany Muliadi pulled out and into the company entered by
Mrs. Soepariny Muliadi as new shareholder. With this time the composition of
its shareholders has been changed to become Mr. Boelio Muliadi (89.3%) and Mrs.
Soepariny Muliadi (10.7%). The latest according to revision notary deed Mrs.
Susan Widjaja, SH., no. 2 dated 9 June 2017 the shareholders approved
re-elected the board of director and commissioner of the Company. The amendment
was approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.03-0150443 dated July 6, 2017. P.T. PRATAMABINA MEDITAMA (P.T. PBM)
is a national private company started to be operating in 1994 dealing with
trading, supply, distribution of marine engine component and parts, industrial
machinery and components and other machinery.
According information and clarification through the
company explained the whole merchandise goods supplied to various industrial
sectors in Medan, North Sumatera and surroundings. Besides, according
information the company is also engaged in shipping agency services. In its
operation the company acted as agent from shipping companies from overseas
without given the name of shipping. The company transported of various rubber
and latex products from North Sumatera with international destination. The
company handles the export of hand gloves and other rubber products from P.T.
WRP BUANA MULTI CORPORA, P.T. INTAN HEVEA INDUSTRY and other companies with
destination of China. We observe that P.T. PBM is a small sized company of its
kinds in the country with operation has been growing with slowly in the last
three years.
The economy in 2017 is projected to post higher growth;
national level this is expected to result from infrastructure projects, while
rebound of commodity prices will drive improvement at the global level.
Government policies will further boost the economy in next year. The
prospective increase in the interest rate (Fed Funds Rate/FFR) in the United
States (US) and the economic slowdown in China contributed to uncertainty and
increased the risk of economic vulnerability throughout the world. The high
volatility of the global economy throughout 2016 which was triggered by low
commodity prices, the European Union (EU) debt crisis, the British decision to
leave the EU block (Brexit), and the results of the US presidential election
put pressure on worldwide economic activities. Global trade slowed down and the
decline in commodity prices became a major problem for the world economy.
Indonesian economic factors cannot be detached from
China’s economic slowdown and from the low prices of main export commodities
such as oil, coal, and palm oil. As Indonesia’s largest trading partner, the
slowdown in China caused Indonesia’s export values to tumble. Nevertheless, the
government sought to encourage equitable infrastructure development across
Indonesia to stimulate economic growth. However, entering the second half of
2016, private consumption and investment slowly began to improve in response to
declining interest rates on loans and improving commodity prices. Various macro
indicators at the end of 2016 showed brighter prospects for 2017 including the
property industry. Government policies which are favorable for the property
sector, such as tax amnesty (TA) which will begin to show its impact in 2017 to
boost growth of the property industry. Rising commodity prices, such as palm
oil, petroleum and coal give new expectations for the property project.
Table of Indonesian
Economic Indicators from 2012 to 2016
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Indonesian Economic
Indicators |
2012 |
2013 |
2014 |
2015 |
2016 |
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Gross Domestic Product (PDB) |
6.0 |
5.6 |
5.0 |
4.8 |
5.0 |
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Consumer Price Index |
4.3 |
8.4 |
8.4 |
3.4 |
3.2 |
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Government Debt |
27.3 |
28.7 |
24.7 |
27.0 |
26.5 |
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Exchange Rate (IDR/USD) |
9,419 |
11,563 |
11,800 |
13,400 |
13,300 |
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Current Account Balance |
-2.8 |
-3.3 |
-3.1 |
-2.1 |
-2.1 |
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Population
(in millions) |
247 |
250 |
253 |
255 |
258 |
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Poverty (percentage of population) |
11.7 |
11.5 |
11.0 |
11.1 |
10.9 |
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Unemployment (percentage
of workforce) |
6.1 |
6.3 |
5.9 |
5.8 |
5.6 |
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Reserves (in billion USD) |
112.8 |
99.4 |
111.9 |
105.9 |
111.4 |
Until this time P.T. PBM has not been registered with
Indonesian Stock Exchange, so that they had not obliged to announce their
financial statement. The management of P.T. PBM is very reclusive towards
outsiders and rejected to disclose its financial condition. We observed that
total sales turnover of the company in 2014 amounted to Rp. 2.0 billion
increased to Rp. 2.5 billion in 2015 rose to Rp. 3.2 billion in 2016 and
projected to go on rising by at least 5% in 2017. The operation in 2016 yielded
a net profit of at least Rp. 192 million. 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. PBM is led by Mr. Andrei Yuanda
(35) a young businessman with experience in trading, supply and distribution of
marine engine component, industrial machinery component and shipping agency
services. 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. Considering P.T.
PRATAMABINA MEDITAMA classified a small sized and operation grow with slowly we
recommend to treat prudently in extending a loan to the company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.22 |
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1 |
INR 92.84 |
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Euro |
1 |
INR 81.27 |
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IDR |
1 |
INR 0.0048 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.