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MIRA
INFORM REPORT
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Report No. : |
504797 |
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Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. SUPREME BELTING PERKASA |
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Registered Office : |
Jalan Industri Raya IV Block AD
No. 8, Kelurahan Bunder, Kecamatan Cikupa Tangerang, 15136, |
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Country : |
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Date of Incorporation : |
15.10.1983 |
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Com. Reg. No.: |
AHU-0002358.AH.01.02.TH.2017 |
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Legal Form : |
P.T. (Perseroan Terbatas) or
Limited Liability Company |
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Line of Business : |
Automotive & Industrial V-Belt
Manufacturing |
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No. of Employees : |
320 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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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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 |
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Source
: CIA |
Company name and address
Name of Company :
P.T. SUPREME BELTING PERKASA
A d d r e s s :
Head Office & Factory
Jalan Industri Raya IV Block AD No.
8
Kelurahan Bunder, Kecamatan Cikupa
Tangerang, 15136
Phones -
(62-21) 5930 3388 (Hunting)
Fax
- (62-21) 590 0898
Land Area -
15,000 sq. meters
Building Space - 11,000 sq. meters
Region -
Industrial Estate
Status -
Owned
Brach and Marketing Office
Jalan Jembatan Tiga Raya No. 8G-H
Pluit, Penjaringan
Phones -
(62-21) 661 8989 (Hunting)
Fax
- (62-21) 661 8933
E-mail -
sales@maxbelt.com
Website -
http://www.maxbelt.com
Building Area - 2 storey
Office Space -
120 sq. meters
Region -
Commercial
Status -
Owned
Date of Incorporation :
15 October 1983
Legal Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
AHU-81100.AH.01.02.TH.2008
Dated
3 November 2008
- No. AHU-0947437.AH.01.02.TH.2015
Dated
7 December 2015
- No. AHU-AH.01.03-0985972
Dated
21 September 2016
- No. AHU-0002358.AH.01.02.TH.2017
Dated
27 January 2017
Company Status :
National Private Company
Permit by the Government Department
:
The Department of Finance
NPWP No. 01.605.893.5-451.000
Related Company :
None
CAPITAL AND OWNERSHIP
Capital
Structure :
Authorized
Capital : Rp.
4,360,000,000.-
Issued Capital : Rp.
4,360,000,000.-
Paid up Capital : Rp.
4,360,000,000.-
Shareholders/Owners
:
a. Mr. Herman Ling AKA Ho Hang Ling - Rp.
1,744,000,000.-
Address :
Jl. Pantai Mutiara Block B No. 8
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta Utara,
Indonesia
b. Mr. Ho Mido -
Rp. 1,308,000,000.-
Address : Jl. Pantai Mutiara
Block B No. 8
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta Utara,
Indonesia
c. Mr. Ho Min Yu -
Rp. 1,308,000,000.-
Address : Jl. Pantai Mutiara Block B No. 8
Kelurahan
Pluit, Kecamatan Penjaringan
Jakarta Utara,
Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Automotive & Industrial V-Belt
Manufacturing
Production Capacity :
Industrial and Automotive Belts - 14,400,000 pieces p.a.
Total Investment :
Owned Capital - Rp. 5.0 billion
Started Operation :
1983
Brand Name :
MITSUISUMI
Technical Assistance :
None
Number of Employee :
320 persons
Marketing Area :
Local - 75%
Export - 25%
Main Customer :
Distributors and automotive repairs
services
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BANDO INDONESIA
b. P.T. BIMA ESTAETIKA LESTARI
TANGGUH
c. P.T. MITSUBOSHI BELTING INDONESIA
d. P.T. SENTRA MODULAR INDONESIA
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
B a n k e r s
:
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Jembatan Dua No. 82
Pluit, Penjaringan
b. P.T. Bank OCBC NISP Tbk
Jalan Pulit Selatan Block S Unit 07
Pluit, Penjaringan
Jakarta Utara
Auditor :
Internal Auditor
Litigation :
No litigation
record in our database
FINANCIAL FIGURE
Annual Sales
(estimated) :
2015 – Rp. 237.0
billion
2016 – Rp. 251.0
billion
2017 – Rp. 266.0
billion
Net Profit
(estimated) :
2015 – Rp. 11.0
billion
2016 – Rp. 13.8
billion
2017 – Rp. 16.0
billion
Payment Manner
:
No Complaints
Financial
Comments :
Fairly strong
KEY EXECUTIVES
Board of Management :
President Director - Mr. Herman Ling AKA Ho Hang Ling
Directors -
a. Mr. Ho Mido
b. Mr. Ho Min Yu
Board of Commissioners :
Commissioner -
Mrs. Ng Sim Phoa
Signatories :
President Director (Mr.
Herman Ling AKA Ho Hang Ling) or one of the Directors (Mr. Ho Mido or Mr. Ho
Min Yu) which must be approved by Board of Commissioner
CAPABILITIES
Management Capability :
Good
Business Morality :
Good
OVERALL PERFORMANCE
P.T. SUPREME
BELTING PERKASA (P.T. SBP) was incorporated in Jakarta on 15 October 1983 with
an authorized capital of Rp. 160,000,000 wholly issued and paid up. The company
was founded by Mr. Herman Ling and his wife Mrs. Ng Sim Phoa both are
Indonesian business family of Chinese extraction. Its article of association
had been changed a couple of times. Later according to revision of notary deed
Mrs. Esther Daniar Iskandar, SH., no. 27 dated 14 August 2008 Mrs. Ng Sim Phoa
pulled out and into the company entered by his son Mr. Ho Mido and Mr. Ho Min
Yu both are Indonesian business family of Chinese descents. Later based on
notary deed Mr. Muhammad Nahi Mungkar, SH., no. 2 dated 7 December 2015 the
company authorized capital was increased to Rp. 3,360,000,000 wholly issued and
paid up. With this development the composition of its shareholders has been
changed to become Mr. Herman Ling (40%), his sons Mr. Ho Min Yu (30%) and Mr.
Ho Mido (30%). Later y according to revision of notary deed Mr. Muhammad Nahi
Mungkar, SH., no. 10 dated 20 September 2016 the shareholders approved the
changes of director and the board of commissioner. Lastly based on revision
notary deed Mr. Muhammad Nahi Mungkar, SH., no. 10 dated 26 January 2017 the
company authorized capital was raised to Rp. 4,360,000,000 wholly issued and
paid up. With this development the composition of its shareholders has been
changed to become Mr. Herman Ling (40%), his sons Mr. Ho Min Yu (30%) and Mr.
Ho Mido (30%). The amendment was approved by the Ministry of Law and Human
Rights in its decision letter No. AHU-0002358.AH.01.02.TH.2017 dated January 27,
2017.
P.T. SBI is a
national private company has been operating in 1983 engaged in the field of
industrial and automotive V-belt manufacturing. The company’s production
facility is located in Jatake Industrial Area, Jalan Industri Raya IV Block AD
No. 8, Bunder sub-district, Cikupa district, Tangerang, Banten Province
standing on a land of 15,000 m2 area with 80 % utilized for production floor
and staffed by well experienced technical personnel, synergized with various
modernizations to manufacturing capability creates production capacity up to
1,200,000 pieces/month. The plant equipped with in-house testing facility and
quality inspection from the very beginning of production process. The company
produces of industrial and automotive V-belt with various types such as
Classical V-Belt, Wedge/Narrow V-Belt, Double Angle V-Belt, Raw Edge Plain, Raw
Edge Laminated, Raw Edge Cogged, Ribbed V-Belt and Raw Edge Cogged Variable
Speed. Some 75% of the products marketed locally using MAX-BELT brand.
Meanwhile some 25% of the products exported to Middle East, Asian countries,
and Latin America. We observe the operation of P.T. SBI has been growing and
developing well in the last three years.
Generally, the
automotive and industrial belt industries had kept on rising in the last five
years in line with the growth and development of industrial sectors. Market
competition is very tough on account of many other similar companies operating
in the country among them are P.T. SUPER BELTINDO GEMILANG licensed by MITSUI TECHNOLOGY
of Japan, P.T. MITSUBOSHI BELTING INDONESIA licensed by MITSUBOSHI of Japan,
P.T. ADILIHAN MAKMUR under license and technology of BANROPE of Taiwan, etc.
P.T. SBI's business position is fairly good for its controls wide marketing in
the country. We are convinced that P.T. SBI is in position to further maintain
its business in the future.
Until this time
P.T. SBI has not been registered with Indonesian Stock Exchange, so that they
had not obliged to announce their financial statement. The
management of P.T. SBI is very reclusive towards outsiders and rejected to
disclose its financial condition. We observed that total sales turnover
of the company in 2015 amounted to Rp. 237.0 billion increased to Rp. 251.0
billion in 2016 rose to Rp. 266.0 billion in 2017 and projected to go on rising
by at least 5% in 2018. The operation in 2017 yielded an estimated net profit
of at least Rp. 16.0 billion and the company has an estimated total networth of
at least Rp. 47.0 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. SBI is led by Mr. Herman Ling AKA Ho Hang Ling (67) a businessman and
professional manager with experience in industrial & automotive V-belt
manufacturing. 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. SUPREME BELTING PERKASA is sufficiently fairly good for
business transaction.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.7 |
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1 |
INR 93.14 |
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Euro |
1 |
INR 81.43 |
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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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DIV |
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Report Prepared
by : |
KET |
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
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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.