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Summary: PT Matahari Putra Prima Tbk. Feb 13 Product Image

Summary: PT Matahari Putra Prima Tbk. Feb 13

  • ID: 2417639
  • February 2013
  • Standard & Poors

Abstract
The rating on Indonesia-based food retailer PT Matahari Putra Prima Tbk. (Matahari) reflects our view of the high competition in Indonesia's food retailing sector. The rating also reflects the company's aggressive expansion plans, high funding requirement and execution risks, and thin operating margins. Matahari's good domestic market position and the positive growth prospects for the food retailing sector in Indonesia temper these weaknesses. We assess the company's business risk profile as "weak" and its financial risk profile as "aggressive." We expect Matahari's earnings before interest, taxes, depreciation, amortization and rent (EBITDAR) margin to dip to the lower end of the 7%-8% range we expected in 2013. This is because competition in the food retailing sector remains intense and Matahari's operating...

Companies mentioned in this report are:
- PT Matahari Putra Prima Tbk.

Action: Review

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