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MIRA INFORM REPORT
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Report No. : |
497525 |
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Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. ADIMITRA PINUS UTAMA |
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Registered Office : |
Jalan Poros Tobolo No. 5 Home Base Armed Kelurahan Niranuang, Kecamatan
Bontomarannu Gowa Regency Malino, 92174 South Sulawesi |
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Country : |
Indonesia |
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Date of Incorporation : |
17.03.2007 |
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Com. Reg. No.: |
AHU-AH.01.03-0044731 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading
and Exporter of Oleo Pine Resins |
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No. of Employees : |
21 |
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 : |
Good |
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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 |
Company
summery
Name of Company :
P.T. ADIMITRA PINUS UTAMA
Address :
Head Office
Jalan Poros Tobolo No. 5
Home Base Armed
Kelurahan Niranuang, Kecamatan Bontomarannu
Gowa Regency
Malino, 92174
South Sulawesi
Indonesia
Phone -
(62-417) 21412
Fax - (62-417) 21412
E-mail - adimitraPU@gmail.com
Mobile Phone - 0812
176 999 07 (Mr. Santoso Gunawan)
Building Area - 1
storey
Office Space - 100
sq. meters
Region -
Commercial
Status - Rent
Date of Incorporation :
17 March 2007
Legal Form :
P.T. (Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and
Human Rights
- No.
AHU-17262.AH.01.01.TH.2011
Dated 6 April 2011
- No. AHU-AH.01.03-0044731
Dated 30 January 2018
Company Status :
National Private Company
Permit by the Government Department :
The Department of Finance
Not Available
The Forest Service Gowa
No. 522.2/25/V/2007
The Regent of Gowa
No. 03.026/Ekonommi/2007
Related Company :
P.T. ADIMITRA PINUS NUSANTARA (Investment Holding)
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized Capital :
Rp. 2,000,000,000.-
Issued Capital :
Rp. 500,000,000.-
Paid up Capital :
Rp. 500,000,000.-
Shareholders/Owners :
a. P.T. ADIMITRA PINUS
NUSANTARA -
Rp. 425,000,000.-
Address
: Jl. Mojopahit No. 27
Kelurahan Keputran,
Kecamatan Tegalsari
Surabaya, East Java
Indonesia
b. Mr. Raden Gautama
Wiranegara -
Rp. 50,000,000.-
Address : Asrama Den Intel Dam VII Wirabuana
Kelurahan Tamalanrea Jaya,
Kecamatan Tama
lanrea, Makassar, South
Sulawesi
Indonesia
c. Mr. Haji Abdul Malik, SE -
Rp. 25,000,000.-
Address : BTN Gowa Mas Indah
Block G.7, RT. 003 RW. 003
Kelurahan Bonto-Bontoa,
Kecamatan Somba
Ompu, Gowa Regency, South
Sulawesi
Indonesia
BUSINESS
ACTIVITIES
Lines of
Business :
Trading
and Exporter of Oleo Pine Resins
Production
Capacity :
Oleo Pine
Resins - 1,500
tons p.a.
Total
Investment :
None
Started
Operation :
June 2007
Brand
Name :
Adimitra
Pinus Utama
Technical
Assistance :
None
Number of
Employee :
21
persons
Marketing
Area :
Export -
100%
Main
Customer :
Buyers in
India
Market
Situation :
Very
Competitive
Main
Competitors :
a. P.T.
ALAM JAYA LOKA
b. P.T. DUTA PERMATA MURNI
c. P.T. MILATRONIKA KARYANIAGA
d. P.T. NINDYABINA ABADI SENTOSA
e. P.T. PERHUTANI ANUGERAH KIMIA
f. P.T. TAPANULI PINE CHEMICALS
Business
Trend :
Growing
BANKER,
AUDITOR & LITIGATION
Bankers :
P.T. Bank MANDIRI Tbk
Jalan K. Haji Wahid Hasyim
Gowa, South Sulawesi
Indonesia
Auditor :
Internal Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2015 – Rp. 26.8 billion
2016 – Rp. 28.0 billion
2017 – Rp. 30.0 billion
Net Profit (estimated) :
2015 – Rp. 2.2 billion
2016 – Rp. 2.4 billion
2017 – Rp. 2.6 billion
Payment Manner :
Average
Financial Comments :
Fairly strong
KEY
EXECUTIVES
Board of Management :
President Director - Mr. Susanto Gunawan
AKA Rudy Susanto
Director - Mr.
Ivan Andrimulya Kusno
Board of Commissioners :
Commissioner - Mrs. Beatrix
Susanto
Signatories :
President Director (Mr. Susanto Gunawan) or the Director (Mr. Ivan
Andrimulya Kusno) which must be approved by Board of Commissioner
CAPABILITIES
Management Capability :
Fairly Good
Business Morality :
Fairly Good
OVERALL
PERFORMANCE
P.T. ADIMITRA PINUS UTAMA (P.T. APU) was
established in Gowa Regency, South Sulawesi based on notary deed Mrs. Elpa
Santira, SH., no. 22 dated 17 March 2007 with the authorized capital of Rp. 2,000,000,000
issued capital of Rp. 500,000,000 fully and paid up. The company was founded by
P.T. ADIMITRA PIUS NUSANTARA (85%), Mr. Raden Gautama Wiranegara (10%) and Mr.
Haji Abdul Malik, SE., (5%), they are indigenous businessmen. The article of
association had been changed and according to revision notary deed Mr. Andrias
Somba Tonapa, SH., no. 09 dated 18 January 2018 the shareholders approved
changes the board of director and commissioner of the Company. The deed of
amendments was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-AH.01.03-0044731 dated January 30, 2018.
P.T. APU has been operating since June 2007
dealing with trading and exporter of oleo pine chemicals. To support its
operations, P.T. APU received permission from the Regent of Gowa and Forest
Service Gowa. P.T. APU only manages pine forests
in an area of 11,996
hectares in Gowa Regency, South Sulawesi.
Pine resin processed into gondorukem (colophonium resin) in East Java, before being exported to India. Gondorukem or oleo pine resin is used as a raw
material of camphor, glue, bags, cosmetics and
ink.
Mr. Santoso
Gunawan AKA Rudy Susanto, President Director of the company when contacted by
mobile phone (0812 176 99907) explained the whole oleo pine resin is exported
to India. Previously the company also exported oleo pine chemicals to Vietnam.
We observe that P.T. APU is classified a small sized company of its kinds with
operation has been growing and developing well in the last three years.
We note that generally the domestic and
international market demand for gum resin, turpentine oil, gum copal and other
Indonesian forestry industry products has been rising in the last several years
in line with the growing production of paint, thinner, cosmetics and other
consumer industry products. But domestic production limitations have caused
foreign buyer needs to be unfulfilled sometimes. The competition is very tight
on account lots of companies operating in the country. P.T. APU business
prospect is sufficiently fairly good because most of the products is exported.
Until this time P.T. APU has not been
registered with Indonesian Stock Exchange, so that they had not obliged to
announce their financial statement. The management of P.T. APU 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.
26.8 billion increased to Rp. 28.0 billion in 2016 rose to Rp. 30.0 billion in
2017 and projected to go on rising by at least 5% in 2018. The operation in
2017 gained a net profit of Rp. 2.6 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. APU is led by Mr.
Susanto Gunawan AKA Rudy Susanto (9) a businessman and professional manager
with experience in trading, and exporter of oleo pine resin. Daily activity he
is assisted by Mr. Ivan Andrimulya Kusno (34) as Director. 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. ADIMITRA PINUS UTAMA is sufficiently fairly
good for business cooperation.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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1 |
INR 90.56 |
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Euro |
1 |
INR 79.78 |
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IDR |
1 |
INR 0.0047 |
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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PRI |
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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.