MIRA INFORM REPORT

 

 

Report Date :

23.01.2007

 

IDENTIFICATION DETAILS

 

Name :

CISAL INDUSTRIA SUL AMERICANA DE ALIMENTOS LTDA

 

 

Registered Office :

Via Primaria 01, Quadra 2 e 3 – S/N, lotes 09/33 e 01/93 – Distrito Agro Industrial 75650-000 Morrinhos /GO

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

September 16, 2000

 

 

Com. Reg. No.:

52.900.469.555

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Industry of spices.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Head information

 

Company name             : CISAL INDUSTRIA SUL AMERICANA DE ALIMENTOS LTDA.

Trade Name                   : CISAL

Address                        : Via Primaria 01, Quadra 2 e 3 – S/N, lotes 09/33 e 01/93 – Distrito Agro

  Industrial 75650-000 Morrinhos /GO - Brasil

Phone                           : (55-64) 3413 4322

Fax                               : (55-64) 3413 0237

E-mail                           : custos@minhaquinta.com.br

Web Site                       : www.minhaquinta.com.br

 

 

Legal information

 

Legal Status:                             Private Limited Company

Incorporation date:                     September 16, 2000

Register number:                       52.900.469.555

Tax contributor (CNPJ):              04.124.167/0001-15

Registered capital:                     R$400.000,00

State Registration number:         10.333779-2

Number of employees:                400

 

Branches:         02 in the cities;Itapevi and Morrinhos.

 

 

History

 

Established on September 16, 2000, chartered at the State Commerce Registration Office of Goias (JUCEGO) under # 52.900.469.555, into the present registered name.

 

Shareholders/Partnership:

 

Edgar Lisboa Fernandez             (Joined 10/2004)            - 50,0%

Brazilian, CPF.:426.484.919-53

 

Edgar Roberto Donato Fernandez            (Joined 10/2000)            - 50,0%

Brazilian, CPF:116.669.778-96

Management:

 

Edgar Roberto Donato Fernandez

Brazilian, Married, CPF: 116.669.778-96

 

 

Properties

 

Not informed.

 

 

 

Registered line of business:

 

Industry of spices.

 

Import countries:         Not informed.

 

Export countries:         Not informed.

 

 

Related Companies

 

Stock Participation:       

 

SOLIVA ALIMENTOS LTDA.                                           - CNPJ: 03.083.576/0001-58

-Edgar Lisboa Fernandez                                                - 50,0%

-Edgar Roberto Donato Fernandez                                   - 47,0%

HIPERVIRTUAL AUTO SERVIÇO LTDA.              - CNPJ: 02.834.352/0001-78

-Edgar Roberto Donato Fernandez                                   - 96,9%

FF BORGES IMP. EXP.E TRANSP.LTDA                        - CNPJ: 03.108.086/0001-69

-Edgar Lisboa Fernandez                                                - 47,7%

-Edgar Roberto Donato Fernandez                                   - 47,5%

 

 

Financial Data

 

According to the brazilian law Private Limited Companies are not obliged to file financial accounts for public inspection.

 

Balance sheet information for fiscal year ending:

31/12/2005 - US$1.00 = R$2,341

31/12/2004 – US$1.00 = R$2,654

 

Figures are in (Thousands of) Reais R$:

 

Assets

2005

2004

Current Assets

15.131

5.642

Inventory

5.325

4.603

Other Assets

9806

1.039

Fixed Assets

6.157

5.094

Immovable

6.141

5.072

Deferred

16

22

Total Assets

21.288

10.736

 

Liabilities

2005

2004

Current Liabilities

9.377

1.352

Suppliers

2.459

1.103

Other liabilities

6.918

249

Long Term Liabilities

11.418

9.241

Net Equity

493

143

Capital

335

320

Accumulated Prifit(Loss)

158

(177)

Total Liabilities

21.288

10.736

 

Income Statement

2005

2004

Annual Net Sales

31.459

6.671

Gross Income

5.411

935

Operating Income

412

(175)

Net Income

336

(177)

 

Financial Analysis

2005

2004

Current Ratio

1,61

4,17

Current Debt Ratio

19,02

9,45

Total Debt Ratio

43,18

75,08

Working Capital

$5.754

$4.290

 

(Dollar rate US$1.00 = R$2,131 on 19/01/2007).

 

 

Banking

 

Banco Sudameris Brasil S/A.      - Branch 1579

Banco do Brasil S/A.                  - Branch.0334

 

Remark:           banking comments could not be obtained due to legal restrictions from the Brazilian Law.

 

Up to January 19, 2007 no returned cheques were foundeither in the name of the company or partners.

 

 

Insurance

 

Not informed.

 

 

Public Trade Payment

 

201  Invoices:

 

Information on purchases:

JAN/2007

Last:

R$4.320

Average:

R$7.643

Information on invoicing:

SEP/2006

Highest:

R$41.580

Average:

R$13.599

Information on accumulation:

NOV/2006

Highest:

R$117.065

Average:

R$27.005

 

100% - Prompt payments

 

 

Trade References

 

Main Suppliers:

 

Day Brasil S/A.

Litografia Valença Çtda.

Comercial Unida de Cereais Ltda.

Wurth do Brasil Peças de Fixação Ltda.

Catral Refrigeração e Eletrodomésticos Ltda.

Eletro Transol Ind. e Com. De Materiais Elétricos Ltda.

 

Main clients:

 

WMS Supermercados do Brasil Ltda.

Himalaia Comércio de Produtos Alimentares Ltda.

Disvale Comercial Distribuidora Vale do Morango Ltda.

 

 

Public Records Information

 

Up to January 19, 2007, no negative information was found.

 

 

Remarks

 

A request for financial information has been sent to the attention of Mr. Orfeu, and any information provided will be forwarded to your attention in an updated report if/when received.

 

The information in this report were obtained outside sources and public records consulted.

 

 

Final Opinion

 

We believe it may be possible to have trade relation with the subject company with amounts that fit to its economic-financial resources, under usual terms. When higher amounts are involved we recommend dealing under secured terms.

 

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions