MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
LA CASTELLANA S.A. DE C.V. |
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Registered Office : |
Circuito de envases
Vacios, Colonia Ejidos del Moral, Delegación Iztapalapa, México D.F./Estado
de México CP 09040 |
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Country : |
Mexico |
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Date of Incorporation : |
20.08.1987 |
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Legal Form : |
Stock Company of
Variable Capital |
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Line of Business : |
Import and commercialization
of groceries in general, grains, dry chili and seeds. |
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 : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : LA CASTELLANA S.A. DE C.V.
TAXPAYER REGISTRATION : RFC CAS-870820-MC8
OPERATING STATUS :
Active
MAIN ADDRESS :
Circuito de envases Vacios, Colonia Ejidos del
Moral,
Delegación Iztapalapa
CITY/PROVINCE/STATE :
México D.F./Estado de México CP 09040
COUNTRY :
MEXICO
TELEPHONE :
(5255)5694.0081
FAX : (5255)5694.0144
E - MAIL : surtabar@prodigy.net.mx
WEB SITE : www.lacastellana.com.mx
COMMENTS -
THIS REPORT SUPERSEDES
OUR REPORT PREVIOUSLY ISSUED ON 09.08.2007.
SUMMARY
Incorporation
: 1987
Operating Status :
Active
Last Capital
: Ps$3,200,000.= Pesos
Shareholders' Equity : Ps$27,067,033.= Pesos(31.12.2006)
Annual Sales
: 62,553,481.00 Pesos
Employees
: 19
QUALIFICATION
RATING : Satisfactory
PAYMENTS : No further credit experience available
LEGAL BACKGROUNDS
LEGAL STATUS :
Stock Company of Variable Capital
DATE OF INCORPORATION : 20AUG1987
REGISTERED IN :
México D.F.
NOTARY OFFICE :
Number 9
DURATION : 99 years
REGISTRATION :
Book:3, Volume:1083, Page:367 # 477
CURRENT PAID-IN CAPITAL : Ps$3,200,000.= Pesos
SHAREHOLDERS' EQUITY : Ps$27,067,033.= Pesos(31.12.2006)
TYPE OF SHARES :
Nominatives
LISTED AT STOCK EXCHANGE: No
SHARE VALUE :
Ps$.1.= Peso
CURRENT EXCHANGE RATE : Ps$.10.97 per 1.00 US Dollar
COMMENTS -
The Subject is affiliated
to the National Chamber of Commerce of the city of México.
Subject's shareholder
structure was not specified.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE
OWNERSHIP %
SAMANO GUEMES, JOSE President 2%
SAMANO VEGA, IGNACIO General Director
49%
SAMANO VEGA, JOSE ANDRES
MARTIN Treasurer 49%
HERNANDEZ, FRANCISCO General Accountant
RELATED COMPANY(IES)
Subject is related with
the following firm:
COMPANY NAME COUNTRY TAX.REG. RELATION
SURTIDORA ABARROTERA S.A.
DE C.V. MEXICO SAB-870619-KZO Related
BUSINESS
MAIN ACTIVITY .-
Import and
commercialization of groceries in general, grains, dry chili and seeds.
IMPORT : Yes From USA, Syria, Colombia, Greece and Pakistan.
EXPORT : Yes To Colombia and Venezuela.
% CASH SALES/METHOD :
20%
% CREDIT SALES/TERMS :
80% 30-day credit terms
% FOREIGN SALES(COUNTRIES) : 0.05%
% DOMESTIC PURCHASES :
10.89%
% FOREIGN PURCHASES :
89.20%
SELLING TERRITORY :
National and international market.
EMPLOYEES : 19
FACILITIES -
Use
: Administrative and commercial offices,
warehouse, registered domicile.
Remarks
and other Premises –
Their previous address was
Andador Bodega F-46, Central de Abastos, Zona Abarrotes, Delegación Iztapalapa.
COMMENTS -
The importations of this
enterprise are carried out via letters of credit payable at 60 days.
Exports of subject are
carried out by means of direct credit or credit at sight and/or at 30 days.
Client base of this
enterprise is basically comprised by wholesaler and retailer merchants.
FINANCIAL INFORMATION
Mr. Francisco Hernández,
Accountant, asked us to send our request in writing so it could be presented to
management for their evaluation and approval. He promised to give us a response
in the following days, however we had not heard from him yet to moment of
preparing this report.
Finally, we have received
from the company additional information including their balance sheet dated
December 31st., 2006, expressed in Pesos (Ps$).
BALANCE
SHEET DATE : 31DEC2006
TYPE OF
BALANCE SHEET : Annual
BALANCE
SHEET OF : 12
months
CURRENCY : Pesos
EXCHANGE
RATE PER US$ : 10.88
ASSETS
TOTAL
CURRENT : 30,098,492.00
FIXED : 613,124.00
TOTAL
ASSETS : 30,711,616.00
LIABILITIES
TOTAL
CURRENT : 3,644,583.00
TOTAL
EQUITY : 27,067,033.00
TOTAL
LIABILITIES : 30,711,616.00
SALES : 62,553,481.00
PROFIT
(LOSS) : 6,214,024.00
LIQUIDITY RATIO : 8.26 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 742.66% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 9.93% (Profits/Sales)
WORKING CAPITAL : 26,453,909.00
(Current Assets - Current Liabilities)
PROPERTIES OF THE COMPANY –
The assets of this
enterprise include:
- Office equipment
- Computer equipment
- Two freight vehicles
etc.
INSURANCE –
Company Against Amount Validity
SEGUROS ATLAS S.A. All
Risk Ps$121,324.62 25DEC2007
PAYMENTS RECORD
TRADE REFERENCES -
COMMENTS
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No unfavourable information
was traced against the commercial reputation of this company during our
investigation.
LIST OF DOMESTIC SUPPLIERS –
Suppliers
listed Alphabetically.
Supplier
ALIMENTOS CHILE SA
ANDREA TRADING AS
FABRICA DE PAPEL LA
SOLEDAD SA DE CV
GRUPO INDUSTRIAL VIDA SA
DE CV
MESA AGRIPRODUCTS
TOP PEARL LTD
LAWSUITS ? .-
No legal actions were
found filed against this company.
BANKING INFORMATION
BANKERS
Bank
BBVA BANCOMER
BANCO NACIONAL DE
MEXICO
GRUPO FINANCIERO
SANTANDER
Subject is a client of those
banks which would not provide further particulars under privacy laws in the
country.
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. |
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%)