MIRA
INFORM REPORT
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Report Date : |
11.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
COTEMINAS S/A |
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Registered Office : |
Av.Governador Magalhães Pinto, 4.000-Parte-Jaragua I 39404-166 –
Montes Claros/MG |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
October 17, 2005 |
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Com. Reg. No.: |
3.689.767 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Weaving in synthetic fibers |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Company name
COTEMINAS S/A
Trade Name
COTEMINAS
Address
Av.Governador Magalhães Pinto,
4.000-Parte-Jaragua I
39404-166 – Montes Claros/MG - Brasil
Phone: (55-38)
4009-5100
Fax: (55-38)
3217-1633
E-mail: j_bomfin@coteminas.com.br
Web Site: www.coteminas.com.br
Legal information
Legal Status: Joint Stock Company (Closed Capital)
Incorporation date: October 17, 2005
Register number: 3.689.767
Tax contributor (CNPJ): 07.663.140/0001-99
Registered capital: R$991.013.001,00
State Registration #: 433.390.833.00-96
Number of employees: Not informed
Branches: 19
– in Brazil
Cities: Acreuna, Ascurra, Belo Horizonte, Blumenau, Camboriu, Campina Grande, Gaspar, Itajaí, Indaial, Ilhota, João Pessoa, Luiz Alves, Macaiba, Montes Claros, Navegantes, São Gonçalo do Amarante and São Paulo
Factory:
Estrada BR 101, KM 3,5 No 362 A - Distrito Industrial
58082-000 - João Pessoa/PB
Phone: (55-83)
3044-1400
Address for correspondence:
Av. Paulista, 1.754, 1º andar - Cerqueira
César
01310-920 - São Paulo/SP – Brasil
Phone: (55-11)
3145-4411
Fax: (55-11)
3145-4425
History
Established on October 17, 2005, chartered at the State Commerce Registration Office of Minas Gerais (JUCEMG) under # 3.689.767, into the present registered name.
Shareholders
SPRINGS GLOBAL PARTICIPAÇÕES S/A
Brazilian, CNPJ: 07.718.269/0001-57
JOSUÉ CHRISTIANO GOMES DA SILVA
(joined 10/2005), Brazilian, Married, CPF:
493.795.776-72
Management: (12/2005 up to 04/2007)
JOSUÉ CHRISTIANO GOMES DA SILVA - President Director
PEDRO GARCIA BASTOS NETO - Vice
President Director
Brazilian, Married, CPF: 014.936.636-15
Properties
Own building
Other properties in Brazil
Registered
line of business:
Weaving in synthetic fibers
Main Products:
Textile products
Related Companies
Stock participation:
SEDA S/A
CNPJ: 05.514.717/0001-75
- Josué Christiano Gomes da Silva - 86,10%
Financial Data
The following financial statement was obtained through outside sources consulted.
Balance sheet information for fiscal year
ending:
31/12/2005 – US$1.00 = R$2,341
Figures are in (Thousands of) Reais R$:
Assets
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2005 |
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Current Assets |
756.415 |
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Inventory |
339.552 |
Other Assets
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416.863 |
Long Term
Assets
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43.504 |
Fixed
Assets
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1.051.078 |
Investment
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74.707 |
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Immovable |
976.371 |
Total
Assets
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1.850.997 |
Liabilities
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2005 |
Current Liabilities
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723.142 |
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Suppliers |
107.529 |
Other liabilities
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615.613 |
Long Term Liabilities
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18.417 |
Net Equity
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1.109.438 |
Capital
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809.890 |
Reserves
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299.548 |
Total Liabilities
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1.850.997 |
Financial
Analysis
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2005 |
Current Ratio
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1,04 |
Current Debt Ratio
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0,65 |
Total Debt Ratio
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1,66 |
Working Capital
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$33.273 |
(Dollar rate US$1.00 = R$2,024 on 09/04/2007).
Banking
Banco Bradesco S/A. - branch.3114
Banco Itaú S/A. - branch.0262
Remark: banking comments could not be
obtained due to legal restrictions from the Brazilian Law.
Up to April 09, 2007 no returned
checks were found either in the name of the company or partners.
Insurance
Not informed
Payment information
Information obtained from outside sources
and public consulted.
3.500 invoices
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Information
on purchases: |
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APR/2007 |
Last: |
R$370.568
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Average: |
R$7.008
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Information
on invoicing: |
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APR/2007 |
Highest: |
R$370.568
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Average: |
R$7.008
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Information on accumulation:
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FEB/2007 |
Highest: |
R$14.194.087
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Average: |
R$97.445
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97% - prompt payments
1% -
delays from 06 up to 15 days
2% -
delays from 16 up to 30 days
Trade References
It was not possible to find out trade references
through outside sources consulted
Public Records
Information
Up to April 09, 2007, no negative
information was found.
Remarks
Contacted Mr. João Batista, we requested the balance sheet of 2005 and 2006, however until the moment we didn't receive an answer.
The information in this report were obtained from outside sources and public records.
Final Opinion
Based on overall information, the company can be considered normal for
business dealings at usual trade terms and conditions.
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%)