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MIRA
INFORM REPORT
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Report No. : |
509232 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. KHARISMA GUNTUR SEJATI |
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Registered Office : |
Kompleks Pergudangan Prima Center I Blok
I-12 Jl. Pesing Poglar eks Pool PPD Kel. Kedung Kali Angke, Kec. Cengkareng West
Jakarta |
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Country : |
Indonesia |
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Date of Incorporation : |
03.11.2009 |
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Com. Reg. No.: |
AHU-AH.01.03-0064647 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading and Distribution of Food and Specialty Chemicals |
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No. of Employees : |
16 |
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 : |
Slow but Correct |
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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 34% today. In May 2017 Standard & Poor’s became the last major ratings agency to upgrade Indonesia’s sovereign credit rating to investment grade.
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
Correct Name of Company :
P.T. KHARISMA GUNTUR SEJATI
Address :
Head Office & Factory
Kompleks
Pergudangan Prima Center I Blok I-12
Jl.
Pesing Poglar eks Pool PPD
Kel.
Kedung Kali Angke, Kec. Cengkareng
West
Jakarta, Indonesia
Phone - (62-321) 2254 3570
Fax -
(62-321) 2254 3571
Building
Area - 276 sq. meters
Office
Space - 120 sq. meters
Region - Warehousing Zone
Status - Rent
Date of Incorporation :
03
November 2009
Legal Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and
Human Rights
a.
No. AHU-28470.AH.01.01.Tahun 2010
Dated 04 June 2010
c.
No. AHU-AH.01.03-0064647
Dated 12 February 2018
Company Status :
Foreign
Investment Company (PMA)
Permits by the Government Department :
The Department of Finance
NPWP
No. 31.170.039.7-034.000
Related/Affiliated Company :
P.T.
NIAGATAMA CEMERLANG (Trading and Distribution of Chemicals)
CAPITAL AND OWNERSHIP
Capital Structure :
Authorized
Capital - Rp.3,000,000,000.-
Issued
Capital - Rp. 750,000,000.-
Paid
up Capital - Rp., 750,000,000.-
Shareholders/Owners :
a. Ms. Stella Margaretha - Rp. 400,000,000.- (53.33%)
Address : Jl.
Komplek Taman Ratu BB – 2/28
Kel. Kepa Duri, Kec. Kebon
Jeruk
West Jakarta, Indonesia
b. Ms. Marviana Angelika - Rp. 350,000,000.- (46.67%)
Address : Jl.
Komplek Taman Ratu BB – 2/28
Kel. Kepa Duri, Kec. Kebon
Jeruk
West Jakarta, Indonesia
BUSINESS ACTIVITIES
Lines of Business :
Trading
and Distribution of Food and Specialty Chemicals
Production Capacity :
None
Total Investment :
None
Started Operation :
January
2010
Brand Name :
KGS
Technical Assistance :
None
Number of Employee :
16
persons
Marketing Area :
Domestic
(Local) - 100%
Main Customers :
Shops, agents and distributors of food
chemicals and also sold directly to a number of household industries in the
cake industry, bakery industry and snack industry.
Market Situation :
Very
Competitive
Main Competitors :
a.
PT. Indo Kemika Jayatama
b.
PT. Justus Sakti Raya
c.
PT. Sari Sarana Kimia
d.
PT. Dunia Kimia Utarama
e.
PT. Halim Sakti Pratama
f.
Etc
Business Trend :
Growing
BANKER, AUDITOR & LITIGATION
Bankers
:
a. P.T.
Bank CENTRAL ASIA Tbk
Komplek Taman Kencana Blok C1/11
Jl. Kamal Raya, Cengkareng
West Jakarta
b P.T. Bank MANDIRI Tbk
Taman Palem Lestari Blok D1 No.19
Jl. Boulevard, Cengkareng
West Jakarta
Auditor :
Internal
Auditor
Litigation :
No
litigation record in our database
FINANCIAL FIGURE
Annual Sales (estimated) :
2014
– Rp. 20.0 billion
2015
– Rp. 23.0 billion
2016
– Rp. 26.0 billion
2017
– Rp. 29.0 billion
Net Profit (estimated) :
2014
– Rp. 1.3 billion
2015
– Rp. 1.5 billion
2016
– Rp. 1.7 billion
2017
– Rp. 1.9 billion
Payment Manner :
Slow but Correct
Financial Comments :
Fairly
KEY EXECUTIVES
Board of Management :
Director - Mr. Lie Tjin Phoi
Marketing Manager -
Ms. Marviana Angelika
Board of Commissioners :
Commissioner -
Ms. Stella Margaretha
Signatories :
Director (Mr. Lie Tjin Phoi) which must be approved by
Board of Commissioner (Ms. Stella Margaretha)
CAPABILITIES
Management Capability :
Fairly
Business Morality :
Fairly
OVERALL PERFORMANCE
P.T. KHARISMA GUNTUR SEJATI (P.T. KGS)
was established in Jakarta, based on Notary Deed No. 1 dated November 3, 2009
drawn up by Aris Hendrawan Halim, SH., notary in West Jakarta, with an
authorized capital of Rp. 3,000,000,000.- of which Rp. 750,000,000.- was issued
and paid up. The founding shareholders
of the company are Mr. Lie Tjin Phoi (93.33%) and Mr. Welly Chandrawan (6.67%),
both are Indonesian businessmen of Chinese extraction. The Deed of establishment has been approved
by the Minister of Law and Human Rights of the Republic of Indonesia through
its Decision Letter No.AHU-28470.AH.01.01.Tahun 2010 dated June 04, 2010.
In February 2018 based on Notary Deed of Dr. Irawan Soerodjo, SH.,
No. 38 dated February 07, 2018, concerning the change in composition of the
Company’s shareholders. Since then, the shareholders of the company are Ms.
Stella Margaretha (53.33%) and Ms. Marviana Angelika (46.67%), both are
daughters of Mr. Lie Tjin Phoi.This amendment to Deed has been
approved by the Minister of Law and Human Rights of the Republic of Indonesia
through its Decree No. AHU-AH.01.03-0064647 dated February 12, 2018. No changes have been effected in term of its
shareholding composition and capital structure to date.
P.T. KGS has been in operation since 2010 dealing with trading,
importing and distribution of food and specialty chemicals. The company registered office located at
Kompleks Pergudangan Prima Center I Blok I-12, Jl. Pesing Poglar eks Pool PPD,
Kedung Kali Angka sub-district, Cengkareng district, West Jakarta. Ms. Marviana Angelika, marketing manager of
the company explained that P.T. KGS appointed as an agent and distributor of food and specialty chemicals produced from overseas such as China, Spain,
India and others. All the company's
merchandize products are sold to shops, agents and distributors of food
chemicals and also sold directly to a number of household industries in the
cake industry, bakery industry and snack industry located in Jakarta and
surrounding areas. We observed that P.T. KGS
is classified as a small sized company of its kind in the country of which the
operation has been growing slowly in the last five years.
The domestic demand for food and specialty chemicals had been
rising by 6% to 8% on the average per annum in the last five years in line with
the rapid growth of food industries, cake industries, bakery
industries and snack industries. But, later dwindled as the
economic slowdown since early 2018, followed by tight money policy imposed by
Indonesian Central Bank (Bank Indonesia) and also heated by political issue in
the country. In addition, the declining
value of the rupiah against the US Dollar and other foreign currencies, a
negative impact, because most of the food and specialty chemicals that are sold
in Indonesia comes from imports. Market competition is very tough on account of
large number of other similar companies operating in the country. P.T. KGS business position in this case is not
too badly because it has built regular customers and extensive marketing
network in Jakarta and surrounding areas.
Until this time P.T. KGS
has not been registered with Indonesian Stock Exchange, so that they shall not
oblige to announce their financial statement. Therefore, the company has no
obligation to publish financial statement publicly. P.T. KGS’s management is
very reclusive to outsider and rejecting to disclose its financial condition
but we estimated the total sales turnover of the company in 2015 amounted to
Rp. 23.0 billion increased to Rp. 26.0 billion in 2016 and rose again to Rp.
29.0 billion in 2017. The operation in
2017 yielded a net profit at least Rp. 1.9 billion and the company has a total net
worth of Rp. 8.0 billion. It is projected
that total sales turnover of the company will increase at least 6% in
2018. So far we did not hear that P.T.
KGS 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.
The management of P.T. KGS is led by Mr. Lie Tjin Phoi (68) as
Director and CEO of the company. In daily activities he is assisted by his two
daughters Ms. Marviana Angelika (21) as marketing manager and Ms. Stella
Margaretha (25) as commissioner. The Company’s management has 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. KGS is appraised to be good for business transaction. However, in view of the economic condition is
still unstable and political situation in the country is warming, we recommend
to treat prudently in extending any new 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 67.72 |
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1 |
INR 91.65 |
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Euro |
1 |
INR 79.89 |
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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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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.