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MIRA INFORM REPORT
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Report No. : |
484532 |
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Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. LINTAS BUANA UNGGUL |
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Registered Office : |
Jalan Pangeran Jayakarta No. 68 Block A – 16
Kelurahan Mangga Dua, Kecamatan Sawah Besar Jakarta Pusat, 10730 |
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Country : |
Indonesia |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
AHU-AH.01.03-0065539 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading, Export Import and Distribution of Agricultural
Commodities Products |
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No. of Employees : |
18 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 less than 27 percent 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 |
Company
summery
Name of Company :
P.T. LINTAS BUANA UNGGUL
Address :
Head Office
Jalan
Pangeran Jayakarta No. 68 Block A – 16
Kelurahan
Mangga Dua, Kecamatan Sawah Besar
Jakarta
Pusat, 10730
Indonesia
Phones - (62-21) 6264733 (Hunting), 6252404
Fax -
(62-21) 6281215
E-mail - tunasself@yahoo.com
Building
Area - 2 storey
Office
Space - 120 sq. meters
Region - Commercial
Status - Rent
Branch
Jalan Perak Timur 512 Block C - 9
Surabaya,
60165
East
Java
Indonesia
Phones - (62-31) 329 2260 (Hunting)
Fax -
(62-31) 328 3276
E-mail -
sby.tunas@yahoo.com
Building
Area - 2 storey
Office
Space - 100 sq. meters
Region - Commercial
Status - Rent
Date of Incorporation :
2000
Legal Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and
Human Rights
- No. AHU-79762.AH.01.02.TH.2008
Dated 30 October 2008
- No. AHU-33228.AH.01.02.TH.2012
Dated 18 June 2012
- No. AHU-AH.01.10-06935
Dated 26 February 2014
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No. AHU-0021165.AH.01.02.TH.2016
Dated 8 November 2016
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No. AHU-AH.01.03-0065539
Dated 11 November 2016
Company Status :
National
Private Company
Permit by the Government Department :
The Department of Finance
NPWP
No. 02.417.040.9-026.000
Related Companies :
A
Member Company of the LINTAS UTAMA Group (see attachment)
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized
Capital : Rp. 60,000,000,000.-
Issued
Capital : Rp. 30,000,000,000.-
Paid
up Capital : Rp. 30,000,000,000.-
Shareholders/Owners :
a. Mr. Ifan Effendy -
Rp. 27,750,000,000.-
Address : Jl.
Rajawali Selatan V No. 38
Kelurahan Gunung Sahari Utara, Kecama
tan Sawah Besar, Jakarta Pusat, 10720
b. Mr. Farid Helingo -
Rp. 1,500,000,000.-
Address :
Perum Radiance Villa Block B No. 13
Kelurahan Jati Ranggon, Kecamatan
Jatisampurna, Bekasi, West Java
Indonesia
c. Mr. Philip Tamzir -
Rp. 750,500,000.-
Address : Taman Kalijaga Permai Block H/14
Harjamukti,
Cirebon, West Java,
Indonesia
BUSINESS
ACTIVITIES
Lines of Business :
Trading,
Export Import and Distribution of Agricultural Commodities Products
Production Capacity :
None
Total Investment :
None
Started Operation :
2000
Brand Name :
Lintas
Buana Unggul
Technical Assistance :
None
Number of Employee :
18
persons
Marketing Area :
Local - 100%
Main Customer :
Traditional
Market
Market Situation :
Very
Competitive
Main Competitors :
a.
P.T. GOLDEN HARVESTINDO
b.
P.T. SARIMAKMUR TUNGGALMANDIRI
c.
P.T. TEMPUREJO
d.
P.T. TIRTA BAHAGIA
e.
Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
Banker :
P.T.
Bank PANIN Tbk
Jalan
Pangeran Jayakarta
Jakarta
Pusat
Indonesia
Auditor :
Internal
Auditor
Litigation :
No
litigation record in our database
FINANCIAL
FIGURE
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Annual Sales (estimated) :
2015
– Rp. 17.0 billion
2016
– Rp. 19.0 billion
2017
– Rp. 22.0 billion
Net Profit (estimated) :
2015
– Rp. 1.0 billion
2016
– Rp. 1.2 billion
2017
– Rp. 1.3 billion
Payment Manner :
No Complaints
Financial Comments :
Fairly
strong
KEY
EXECUTIVES
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Board of Management :
President Director - Mr. Farid Helingo
Director -
Mr. Philip Tamzir
Board of Commissioners :
Commissioner -
Mr. Ifan Effendy
Signatories :
President Director (Mr. Farid Helingo) or the Director
(Mr. Philip Tamzir) which must be approved by Board of Commissioner
CAPABILITIES
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Management Capability :
Good
Business Morality :
Good
OVERALL
PERFORMANCE
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P.T. LINTAS BUANA UNGGUL (P.T. LBU) was established in Jakarta in
2000’s with an authorized capital of Rp. 200,000,000 issued capital of Rp. 50,000,000
fully and paid up. The founding shareholders of the company are Mr. Ifan
Effendy with his business partners namely Mr. Farid Helingo and Mr. Philip
Tamzir, they are Indonesian businessmen of Chinese origins. The company notary
deed has been changed in September 2008 the authorized capital was raised to
Rp. 1,000,000,000 issued capital to Rp. 250,000,000 entirely paid up. With this
development the composition of its shareholders changed to become Mr. Ifan
Effendy (70%), Mr. Farid Helingo (15%) and Mr. Philip Tamzir (15%). Then
according to the revision of notary deed of Mr. Nelson Eddy Tampubolon, SH.,
No. 24 dated 16 May 2012 the company authorized capital was increased to Rp.
30,000,000,000 issued capital to Rp. 10,500,000,000 fully and paid up. On the
same occasion Mr. Ifan Effendy withdrew and the whole share taken over by P.T.
TUNASUTAMA SARIPERKASA as new shareholder. With this development the
composition of its shareholders has been changed to become P.T. TUNASUTAMA
SARIPERKASA (92.5%), Mr. Farid Helingo (5%) and Mr. Philip Tamzir (2.5%).
Lastly according to revision of notary deed Mr. Nelson Eddy
Tampubolon, SH., no. 16 dated 10 October 2016 the company authorized capital
was increased to Rp. 60,000,000,000 issued capital to Rp. 30,000,000,000
entirely paid up. On the same occasion P.T. TUNASUTAMA SARIPERKASA pulled out
and into the company entered by Mr. Ifan Efdendy. With this development the
composition of it shareholders has been changed to become Mr. Ifan Effendy
(92.5%), Mr. Farid Helingo (5%) and Mr. Philip Tamzir (2.5%). The amendment was
approved by the Ministry of Law and Human Rights in its decision letter No.
AHU-AH.01.03-0065539 dated November 11, 2016.
P.T. LBU has been operating since 2000 to deal with trading,
export import and distribution of agricultural commodities products. Mr. Farid
Helingo, President Director of P.T. LBU went on to say the merchandising goods
products including are garlic, ground nuts, red onion. He also added the
agricultural commodities products like garlic is imported from China, ground
nuts from India. Besides, the other products likes red onion is obtained from
Brebes (Central Java) and East Java and the exported to Singapore. Mr. Farid
Helingo added the company has exported spices to China, Thailand, Vietnam,
India and Myanmar and it’s depends of the order bases from the customers and
buyers. Then, the whole product likes garlic and groundnut marketed locally
through traditional market in Jakarta, East Java and Sumatera. We observed that
the company’s operation has been growing and developing well in the last three
years.
We have noticed that the demand for agricultural products had
increased some 10% to 11% per annum in the last five years in line with the
growth of industrial manufacturing in the country and international market. In
the coming years, the growth rate of demand is estimated at about 6% to 7% per
annum. The present market situation for agricultural products is very
competitive for a large number of similar companies operating in the country.
Meanwhile, competition is quite heavy in the export import of agricultural
products with many companies now doing business in this field in Indonesia. .
We consider P.T. LBU to be in a quite favorable position for having already got
hold of a steady clientele in the Jakarta, Java and Sumatera.
P.T. LBU has not been registered with Indonesian Stock Exchange,
so that they had not obliged to announce their financial statement. The
management of P.T. LBU is very reclusive towards outsiders and rejected to
disclose its financial condition. We estimated that total sales turnover of the
company in 2015 amounted to Rp. 17.0 billion increased to Rp. 19.0 billion in
2016 rose to Rp. 22.0 billion in 2017 and projected to go on rising by at least
5% in 2018. It is estimated the company has gained a net profit of Rp. 1.3
billion with an estimated total networth of at least Rp. 30.0 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. LBU is led by Mr. Farid Helingo (51) a
business and professional manager with experience for more than 16 years in
trading, export import of agricultural commodities products. But we are sure the
primemover of the company is Mr. Ifan Effendy (63) a businessman and
professional manager with experience in trading, import and distribution of
agriculture commodities products. Daily operation he is assisted by Mr. Philip
Tamzir (58) as a director. The management is handled by experienced staff in
this business, having maintained a wide business relation with private
businessmen at home and abroad as well as with government sectors. So far, we
did not hear that the company’s management involved in business malpractice or
detrimental cases that settled in the country. The company’s litigation record
is clean and it has not registered with the black list of Bank of Indonesia.
P.T. LINTAS BUANA UNGGUL is sufficiently fairly good for business cooperation.
Attachment
List of the LINTAS UTAMA Group Members
1. ALTIC ONE INDONESIA, P.T. (Logistic Services)
2.
BUANA TUNAS SEGARA SUBUR, P.T. (Trading, Import and Distribution
of Shallot and Dried Chili)
3.
CAHAYA NIAGA INDAH, P.T. (Trading of Agriculture Products)
4.
GERBANG INDO NIAGA, P.T. (Trading, Import and Distribution of
Shallots)
5.
MAHKOTA ABADI PRIMA JAYA, P.T. (Trading, Import and Distribution
of Crops)
6.
OLAHDAYA INTI USAHATANI, P.T. (Trucking Services)
7.
PRIMA NUSA LENTERA AGUNG, P.T. (Trading, Import and Distribution
of Fruit and Vegetables)
8.
TANJUNG SAMUDERA NIAGA MANDIRI, P.T. (Dry and Cooler Warehouse
Services)
9.
TUNAS PERKASA INDONESIA, P.T. (Dry and Cooler Warehouse Services
10.
UTAMA RAYA TRANSPORINDO, P.T. (Trailer Services)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.74 |
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|
1 |
INR 86.01 |
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Euro |
1 |
INR 76.14 |
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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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VIV |
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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.