MIRA
INFORM REPORT
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Report Date : |
24.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
FORESTAL LA CUEVA S.A. DE C.V. |
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Registered Office : |
Km. 22 1/2 Carretera al Puerto La Libertad
Hacienda Veracruz, Zaragoza/La Libertad |
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Country : |
El
Salvador |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
30 OCT 1990 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Manufacture charcoal. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : FORESTAL LA CUEVA
S.A. DE C.V.
TAXPAYER
REGISTRATION : NIT 0614301090102-4 OPERATING STATUS: Active
MAIN ADDRESS :
Km. 22 1/2 Carretera al Puerto La Libertad Hacienda Veracruz
CITY/PROVINCE/STATE :
Zaragoza/La Libertad
TELEPHONE :
(503)2314.0943
E - MAIL : carlosreyna@amnetsal.com
COMMENTS -
Please notice the e-mail given by you:
carlosrevna@amnestsal.com is WRONG.
QUALIFICATION
RATING : SECURED CREDIT IS ADVISED
PAYMENTS : NO CREDIT EXPERIENCE AVAILABLE
LEGAL
BACKGROUNDS
LEGAL STATUS :
Stock Company of Variable Capital
DATE OF
INCORPORATION : 30OCT1990
REGISTERED IN :
San Salvador
CURRENT PAID-IN CAPITAL : US$40,000.=
Dollars
SHAREHOLDERS' EQUITY :
US$293,646.= Dollars (31-12-2005)
LISTED AT STOCK EXCHANGE : No
CURRENT EXCHANGE
RATE :
C/.8.75 per 1.00 U.S. Dollar
DIRECTORS /
EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY
NAME TITLE OWNERSHIP %
CALDERON SOL, JOSE TOMAS Legal Representative 37%
SOL HENRIQUEZ, JOSE ROBERTO Financial Executive
MEDRANO ARGUETA, MARIN Sales Executive
CALDERON SOL, ARMANDO Shareholder 37%
PROMASAL S.A. DE C.V. Shareholder 26%
WHO IS WHO ?
CALDERON SOL, JOSE TOMAS
NATIONALITY
: Salvadorian BORN : 11APR1950
DOC. OF IDENT. : DUI 024203476
SOL HENRIQUEZ, JOSE
ROBERTO
NATIONALITY
: Salvadorian BORN
: 08NOV1967
DOC. OF IDENT. : DUI
02420300-5
MEDRANO ARGUETA, MARIN
NATIONALITY
: Salvadorian BORN
: 15APR1966
DOC. OF IDENT. : DUI
00810015-5
CALDERON SOL, ARMANDO
NATIONALITY
: Salvadorian BORN
: 24JUN1948
DOC. OF IDENT. : DUI
00000082-4
PROMASAL S.A. DE C.V.
Salvadorian enterprise, incorporated on 15.09.1975.
It operates with NIT tax id 0614150975001-2
RELATED
COMPANY(IES)
COMPANY NAME COUNTRY TAX.REG. RELATION
PROMASAL S.A. DE C.V. EL SALVADOR
0614150975001-2 Related
BUSINESS
MAIN ACTIVITY .-
Cultivation of Teak forests: Sale of Teak wood in
rolls or sawn.
Manufacture charcoal.
Sold brandname: "D'COPINOL" (charcoal).
% CASH SALES/METHOD :
10%
% CREDIT SALES/TERMS :
90% 120 days
SELLING TERRITORY :
Metropolitan area and interior of the country
EMPLOYEES : 15
FACILITIES -
Premises
: Own
Use :
Administrative offices
Remarks and other Premises .-
Subject owns real properties called La Cueva, Mata
de Piña and Los Pasajes.
COMMENTS -
Clients: Supermarkets, retail businesses, etc.
Project: To foment cultivation of teak natiowide.
FINANCIAL INFORMATION
After much insistence, finally, CP José Edwin
Murillo (Accountant) provided information as well as the Balance Sheet dated
December 31st., 2005, expressed in U.S. Dollars (US$).
At date of balance sheet subject displayed a working
capital deficit and equity covered 54% of its current debt while year was
closed with a small profit margin.
FORESTAL LA CUEVA S.A. DE C.V. is a small company in
its industry.
BALANCE SHEET DATE :
31DEC2005
TYPE OF BALANCE
SHEET :
General
BALANCE SHEET OF : 12 months
CURRENCY : US Dollars
ASSETS
TOTAL CURRENT : 131,583.00
FIXED
: 702,693.00
TOTAL ASSETS
: 834,276.00
LIABILITIES
TOTAL CURRENT : 540,630.00
TOTAL EQUITY : 293,646.00
TOTAL LIABILITIES : 834,276.00
SALES : 48,000.00
PROFIT (LOSS) : 1,126.00
LIQUIDITY RATIO
: 0.24 (Current
Assets/Current Liabilities)
DEBT-TO-EQUITY RATIO :
54.32% (Shareholders'equity/Current Liabilities)
PROFITABILITY MARGIN :
2.35% (Profits/Sales)
WORKING CAPITAL
: -409,047.00 (Current
Assets - Current Liabilities)
DETAILS OF MAIN
ASSETS
- Real properties called La Cueva, Mata de Piña and
Los Pasajes.
- Portable sawmill Timber line.
- Mercedes truck with capacity to 8 tons.
INSURANCE
Subject company is not covered by policies for the
time being.
PAYMENTS RECORD
TRADE REFERENCES -
COMMENTS -
We contacted the two only suppliers reported by the
interviewed person, but they have advised they have no record of subject as a
client on credit basis.
LAWSUITS ? -
No collections or legal suits were found recorded
against this company.
BANKING INFORMATION
BANKERS
Bank Contact Telephone
BANCO AGRICOLA S.A. Ing.Milton Serrano
(503) 22983388
Learnt the financial transactions of this company
are carried out through these banks, further particulars could not be obtained
due to banking privacy laws in El Salvador.
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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