MIRA
INFORM REPORT
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Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NAHUELCO S.A. |
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Registered Office : |
Cañaveral 051 A, Parque
Industrial Portezuelo, Quilicura/Santiago |
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Country : |
Chile |
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Date of Incorporation : |
13.05.1988 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Manufacturing and sales
of environmental equipment, mesh, metallic elements of continuous slot and
filters for water, oil and gas wells. |
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 : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME :
NAHUELCO S.A.
TAXPAYER
REGISTRATION : RUT 96.533.010-0
OPERATING STATUS : Active
MAIN ADDRESS :
Cañaveral 051 A, Parque Industrial Portezuelo,
CITY/PROVINCE/STATE :
Quilicura/Santiago
COUNTRY : CHILE
TELEPHONE : (562)443.5144
FAX : (562)443.5109
E - MAIL : none
WEB SITE :
none
SUMMARY
Incorporation : 1988
Operating Status : Active
Last Capital : Ps$30,000,000.= Pesos
Employees : 22
CR-Rating : BB Satisfactory
Payments : P2: Usually to terms/good
QUALIFICATION
RATING : Satisfactory
PAYMENTS : Usually to
terms/good
LEGAL BACKGROUNDS
LEGAL STATUS :
Joint-Stock Company
DATE OF
INCORPORATION : 13MAY1988
REGISTERED IN :
Santiago
NOTARY OFFICE : Félix Jara
Cadot.
DURATION : Indefinite
INITIAL CAPITAL :
Ps$2,500,000.= Pesos
CURRENT PAID-IN CAPITAL : Ps$30,000,000.= Pesos
LAST CAPITAL
INCREASE : 06APR1990
TYPE OF SHARES :
Nominatives, one series
CURRENT EXCHANGE
RATE :
Ps$499.70 per 1.00 US Dollar
COMMENTS .-
The administration is in
charge of the general manager, legal representative and director.
HISTORY
The company was
incorporated on 13.05.1988 under the style REJILLAS JOHNSON S.A. In compliances
with Deed of date 14.05.1991, before the Notary Félix Jara Cadot of Santiago,
published in the Official Journal of date 07.06.1991, page No. 10, the Subject
changed its name to NAHUELCO S.A.
The registration of this
Company was published in the Official Journal of date 01.05.1988, page No. 7.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY
NAME TITLE
HARGUINDEY, JULIAN Dir/Gral.Mg/Legal Rep.
BARTOLINI ZIKA,
THOMAS Plant
Mg/LegRep.
FLORES, LUZ LegalRep/Gral.Accountant
RELATED COMPANY(IES)
COMPANY NAME COUNTRY RELATION
NAHUELCO S.A. ARGENTINA Related
BUSINESS
MAIN ACTIVITY -
INDUSTRY SECTOR:
METALMECHANICAL
Line of Business:
Manufacturing and sales of environmental equipment, mesh, metallic elements of
continuous slot and filters for water, oil and gas wells.
IMPORT : Yes From Argentina, India, Italy and USA,
against L/Cs and special agreements.
Annual Imports in US
$(CIF) :
Year Amount
2007 603,962.38
2006 560,054.29
EXPORT : Yes To Argentina, Bolivia, Brazil,
Colombia, Ecuador, Peru and Sudan.
Annual Exports in US
$(FOB) :
Year Amount
2006 480,456.76
2007 739,933.96
% FOREIGN
SALES(COUNTRIES) : 50%
% DOMESTIC PURCHASES :
90%
% FOREIGN PURCHASES :
10%
SELLING TERRITORY :
50% - Domestic market
EMPLOYEES : 22
FACILITIES -
Condition : Good. Premises are located at an
industrial area of normal
Use : The Administrative
Offices operate from caption address.
Remarks and other
Premises .-
No branches are reported.
COMMENTS -
Company plans to attend
in year 2008 the COMPAÑIA MINERA ESCONDIDA, one of the major mining companies
in Chile.
Wholesalers 50% -
retailers 50%.
Among the subject's most
important clients we can name companies of the fishery and industrial sector.
The four most important clients of this Company are reported to be: Pesquera El
Golfo SA, Captagua SA, H.S.B. Sondajes SA and Compañia Pesquera Camanchaca SA.
FINANCIAL INFORMATION
We interviewed C.P. Luz Flores
(General Accountant) who denied financial figures per corporate policy; however
she furnished most other information contained in this report.
Some complementary
information was also secured in third party sources and in public registries ,
but financial statements were not found available either.
FINANCIAL SITUATION : UNDETERMINED
The subject Company's
financial situation is considered Undetermined due to lack of figures to asses
its financial results.
However, it should be
mentioned NAHUELCO S.A. is a Chilean company recognized in its particular
sector of activity, with nineteen years of operations and staffed with 22
workers at present, therefore, it is regarded a medium sized company.
The Subject is working
with credit facilities granted against different terms, and it is reported to meet its commitments
generally within stated terms; therefore it is classified as a good client in
the marketplace.
No payment problems have
been traced during our research.
PROPERTIES OF THE COMPANY
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PROPERTIES:
There are two real
estates registered to the name of this company:
- Branch: Av. Las Torres
1396, Huechuraba - Santiago - Chile.
Officially assessed value
of: Ps$238,664,000.= Pesos
Record : No.3122-13
- Place: Conquistadores
del Monte 5068, Lote 64A, Huechuraba, Santiago - Chile.
Officially assessed value
of Ps$102,403,000.= Pesos.
Record: No.3128-15
However, we were advised
the aforementioned no longer belong to the company as they were sold.
VEHICLES
Particulars declined.
MACHINERY AND
INSTALLATIONS
Company has cutters,
welding equipment, oxygen equipment, installations and other necessary tools,
etc.
INSURANCE -
The Company is not
covered by insurance policies at this moment.
PAYMENTS RECORD
TRADE REFERENCES –
Line of Credit Terms(days)) Performance? Time
Supplier
1 Ps$ 1,500,000.= 30 days
Prompt 1994 Domestic
2 No specified 30 days
Prompt 2001 Domestic
COMMENTS -
Additional comments to
the above described references:
No.1: Last sale was made
in 12/2007. Average monthly purchases of this company reported at Ps$700,000.=
Pesos - outstanding balance: Ps$478,000.= and a due balance: Ps$62,000.0 Pesos,
which they consider tolerable. Classify the subject company as a good client.
No.2: Last sale was made
in 11/2007.
Both suppliers have
indicated subject pays through deposits in current accounts.
A third supplier has not
responded our reference request.
LIST OF DOMESTIC SUPPLIERS
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Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier
Indura SA Industria y
Comercio
Industrias Chilenas de
Alambre Inchalam SA
ThyssenKrupp Aceros y
Servicios SA
CREDIT RISK CENTRAL -
No protested drafts,
returned checks due to insufficient funds were traced.
Labour infringements or
delinquent debt was not traced either.
CREDIT HISTORY -
Former reports revealed a
general prompt payment performance of this company.
BANKING INFORMATION
BANKERS
Bank
BANCO DE CHILE
BANCO DE CREDITO E
INVERSIONES
All financial transations
are carried out through the above named banks, which World not provide us
refereferences under confidentiality policies.
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%)