MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIAS INC. WESTTS S.A. |
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Registered Office : |
25 Mts. Sur Fábrica de Galletas Cuetara, Calle La Rusia, La Ribera de Belén/Heredia |
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Country : |
Costa Rica |
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Date of Incorporation : |
04.10.1994 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Import and commercialization of supplies and raw material for the industry: Plastic compounds (masterbatch), diverse specialised polymers, pigments and resins, metallurgical products, steel products, industrial cutter blades, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : INDUSTRIAS INC. WESTTS S.A.
TRADE NAME : "INDUSTRIAS WESTTS SA"
TAXPAYER REGISTRATION : CJ 3101159409
MAIN ADDRESS : 25 Mts. Sur Fábrica de Galletas Cuetara, Calle La Rusia,
CITY/PROVINCE/STATE : La Ribera de Belén/Heredia
COUNTRY : COSTA RICA
TELEPHONE : (506) 2395433/2395684
FAX : (506) 2395431
E – MAIL : president@industriaswestts.com/info@westts.com
SUMMARY
Incorporation : 1994
Operating Status : Active
Last Capital : US$10,880.= Dollars
Shareholders' Equity : C/9,256,919.= Colones (as of 30-09-2005)
Annual Sales : 609,785,971.00 Colones
Employees : 12
Rating (1) : SECURED CREDIT IS ADVISED
Payments (2) : NO CREDIT EXPERIENCE AVAILABLE
LEGAL BACKGROUNDS
LEGAL STATUS : Joint-Stock Company
DATE OF INCORPORATION : 04OCT1994
PLACE OF REGISTRY : San Jose
REGISTRATION : Volume 0849, Page 136, Entry 00145
CURRENT PAID-IN CAPITAL : US$10,880.= Dollars
SHAREHOLDERS' EQUITY : C/9,256,919.= Colones (as of 30-09-2005)
CLASS OF SHARES : Nominatives
LISTED AT STOCK EXCHANGE : No
CURRENT EXCHANGE RATE : C/.517.93 per 1.00 US Dollar
DIRECTORS -
EXECUTIVES - SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
JOLICOEUR, PHILIPPE President 50%
SANDOVAL, MARIA DE LOURDES Vice President 50%
TORRES, GRACE Accountant --
WHO IS WHO ?
JOLICOEUR, PHILIPPE
NATIONALITY : Canadian
D.O.B. : 28JUN1967
ID : CI 12502004820001412
CIVIL STATUS : Married to María de Lourdes Sandoval
LABOR AND/OR BUSINESS
BACKGROUNDS .-
He has been President of INDUSTRIAS INC. WESTTS SA since October 4, 1994.
SANDOVAL, MARIA DE LOURDES
NATIONALITY : Mexican
D.O.B. : 14JAN1968
ID : CI 15001957080001738
CIVIL STATUS : Married to Philippe Jolicoeur
LABOR AND/OR BUSINESS BACKGROUNDS .-
She has been Vice President of INDUSTRIAS INC. WESTTS since October 4, 1994.
RELATED COMPANY(IES)
No related enterprises were found.
BUSINESS
MAIN ACTIVITY .-
Import and commercialization of supplies and raw material for the industry: Plastic compounds (masterbatch), diverse specialised polymers, pigments and resins, metallurgical products, steel products, industrial cutter blades, etc.
IMPORT (Countries) : Brazil, Canada and Korea, payments via transfers
Annual Imports in US$ (CIF) :
Year Amount
2004 350,000.00
EXPORT (Countries) : Guatemala, Panama and Nicaragua
Annual Exports in US$ (FOB) :
Year Amount
2004 190,000.00
% CASH SALES/METHOD : 40%
% CREDIT SALES/TERMS : 60% (30 and 45-day terms)
% FOREIGN SALES(COUNTRIES) : 40%
SELLING TERRITORY : National and international market
EMPLOYEES : 12
FACILITIES .-
Premises : Rented
Condition : Normal condition.
Use : Legal domicile, administrative, commercial offices and warehouse
Remarks and other
Premises .-
No branches.
COMMENTS .-
The client portfolio is mainly comprised by industrial enterprises.
FINANCIAL INFORMATION
Ms Grace Torres (Accountant) was interviewed during this investigation and cooperated with general data regarding this enterprise but declined financials claiming such information was regarded strictly confidential.
It is important to mention on our part we made enquiries in outside sources but updated financial data for this enterprise was not found available to examine its real financial position at this time.
As reference we are including in report latest available financial figures of the company in our database as of 30.06.2005.
BALANCE SHEET DATE 30SEP2005
TYPE OF BALANCE SHEET FY end
BALANCE SHEET OF 12 months
CURRENCY Colones
EXCHANGE RATE PER US$ 487.30
ASSETS
TOTAL CURRENT 203,865,078.00
FIXED 36,025,610.00
TOTAL ASSETS 239,890,688.00
LIABILITIES
OTHERS 230,633,769.00
SHAREHOLDERS' EQUITY
TOTAL EQUITY 9,256,919.00
TOTAL LIABILITIES 239,890,688.00
SALES 609,785,971.00
PROFIT (LOSS) 156,061,208.00
RATIO
PROFITABILITY MARGIN : 25.59% (Profits/Sales %)
DETAILS OF MAIN ASSETS .-
Main assets consist of motor vehicles.
INSURANCE .-
Company Against Amount Expiration
INSTITUTO NACIONAL DE SEGUROS – INS General risks Not specified Not specif
PAYMENTS RECORD
TRADE REFERENCES .-
Referred Suppliers
Supplier Telephone Country
CCS GLOBAL AG. DE ADUANA (506)290.5540 COSTA RICA
ALMACENES FISCAL CARIARI SA (506)293.4111 COSTA RICA
FORMULARIOS Y SISTEMAS LEO (506)283.5222 COSTA RICA
CROMEX-BRANCOLOR 210.4210 BRAZIL
GTU INTERNACIONAL INC. (82)27350762163 KOREA
STARCO CONCENTRATES INC. (514)645.9559 CANADA
COMMENTS .-
Local suppliers have not answered our reference requests.
LAWSUITS ? .-
No lawsuits against subject were found.
BANKING INFORMATION
BANKERS .-
Bank Contact name Telephone
BANCO INTERFIN SA Alexander Fernandez (210)210.4210
BANCA PROMERICA SA Alexander Jiménez (210)296.4848
ST GEORGE BANK (Miami, USA)
BANCO NACIONAL DE COSTA RICA
Under the Bank Secrecy Act, the aforesaid banks declined to provide information related to their client.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)