MIRA
INFORM REPORT
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Report Date : |
13.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SEQUIN, C.A. |
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Registered Office : |
Av. Libertador, Centro
Comercial El Recreo, Nivel 3, Local 82, Zona Industrial I, Barquisimeto /
Estado Lara |
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Country : |
Venezuela |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
10.03.1994 |
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Legal Form : |
Joint - Stock Company |
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Line of Business : |
Import, distribution, sale
and technical support on control products, instrumentation and automation:
Temperature controllers, counters, clocks, power supplies, servomotors,
sensors, among other products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : SEQUIN, C.A.
TAXPAYER REGISTRATION : RIF J301729455
OPERATING STATUS :
Active
MAIN ADDRESS :
Av. Libertador, Centro Comercial El Recreo,
Nivel 3, Local
82, Zona Industrial I
CITY/PROVINCE/STATE :
Barquisimeto / Estado Lara
COUNTRY : VENEZUELA
TELEPHONE :
(58251)447.1784/445.6072/445.7260
FAX : (58251)447..0146
E - MAIL : sequin@sequinca.net
WEB SITE : www.sequinca.net
SUMMARY
Incorporation
: 1994
Operating Status :
Active
Last Capital
: *
Shareholders' Equity : 1,518,232,023.=
Annual Sales
: 3,439,243,115.00 Bolivares
Employees
: *
QUALIFICATION
RATING : ELIGIBLE FOR MODERATE CREDITS
PAYMENTS : LITTLE CREDIT EXPERIENCE AVAILABLE
LEGAL BACKGROUNDS
LEGAL STATUS :
Joint-Stock Company
DATE OF INCORPORATION :
10MAR1994
REGISTERED IN :
State of Lara - Mercantile Registry I
REGISTRATION :
No. 34, Volume 14-A
INITIAL CAPITAL :
Bs. 1,000,000.= Bolivares
CURRENT PAID-IN CAPITAL : Bs. 100,000,000.=
Bolivares
LAST CAPITAL INCREASE :
31.07.2000 (No. 68, Vol. 26-A)
SHAREHOLDERS' EQUITY :
TYPE OF SHARES :
Nominatives
LISTED AT STOCK EXCHANGE : No
SHARE VALUE :
Bs. 1,000.= Bolivares
CURRENT EXCHANGE RATE : Bs. 2,150.= per 1.00 U.S. Dollar
COMMENTS -
Latest capital stock
increase with merchandise contributed.
The Board of Directors
was appointed on February 17th., 2003.
HISTORY
The founders of this
enterprise were: María del Rosario Valera, Esteban Lemus and
Victor Ciliberto Cañas.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE
OWNERSHIP %
VALERA PEREIRA, MARIA DEL
ROSARIO President 33%
LEMUS, ESTEBAN JOSE Vice President
34%
VALERA PEREIRA, ALFONSO
JOSE Managing Director 33%
WHO IS WHO ?
VALERA PEREIRA, MARIA DEL ROSARIO
NATIONALITY : Venezuelan BORN : 1962
DOC.
OF IDENT. : CI 7301041
LEMUS, ESTEBAN JOSE
NATIONALITY : Venezuelan
BORN : 1965
DOC.
OF IDENT. : CI 5880567
VALERA PEREIRA, ALFONSO JOSE
NATIONALITY : Venezuelan
DOC.
OF IDENT. : CI 9542367
RELATED COMPANY(IES)
Subject is related with
the firms below named:
COMPANY NAME COUNTRY
LSV CONTROLES C.A. VENEZUELA
LV CONTROLES C.A. VENEZUELA
SEQUIN VALENCIA C.A. VENEZUELA
BUSINESS
MAIN ACTIVITY .-
Import, distribution,
sale and technical support on control products, instrumentation and automation:
Temperature controllers, counters, clocks, power supplies, servomotors,
sensors, among other products.
Wholesalers 95%,
retailers 5%.
IMPORT : Yes From South Korea, Taiwan, China, India, USA.
% CASH SALES/METHOD : 20%
% CREDIT SALES/TERMS : 80%
% FOREIGN PURCHASES : 100%
SELLING TERRITORY :
5% Capital City / 95% Provinces
EMPLOYEES : 14
FACILITIES .-
Premises :
Own
Area :
3,155 sqm.
Condition :
Good. Concrete block construction.
Use
: Main Offices. Premises are located at an industrial
area.
Remarks
and other Premises .-
Branches: in the cities
of Valencia, Caracas and Maracaibo.
COMMENTS -
Sales are oriented to the
following sectors: Plastics, injection, foods and beverages, packing machines,
glass, pharmaceutical products, chemical products, oil, etc.
Exclusive
representations: AUTONICS, LSIS, METRONIX, RICH ELECTRIC, CROMPTON GREAVES,
FATEK, FOTEK, HITECH, WEINTEK, CHINFA.
FINANCIAL INFORMATION
We interviewed Mr.
Esteban Lemus, Vice President. He provided us the information contained on this
commercial report including the Balance Sheet for their fiscal year ended at
December 31st., 2006.
Further, Mr. Lemus stated
subject company is registered before Cadivi, to obtain dollars at preferential
dollar exchange rate; during the 2004-2006 period subject company was approved
import requests amounting to US$857,061.80 and until 30.06.2007 import requests
amounting to US$261,765.60 Dollars have been approved to subject.
BALANCE
SHEET DATE : 31DEC2006
TYPE OF
BALANCE SHEET : Annual
BALANCE
SHEET OF : 12
months
CURRENCY : Bolivares
EXCHANGE
RATE PER US$ : 2,150.00
ASSETS
CASH/BANKS : 14,850,956.00
RECEIVABLES : 482,244,192.00
INVENTORY : 652,288,150.00
OTHERS : 212,750,000.00
TOTAL
CURRENT : 1,362,133,298.00
FIXED : 187,892,878.00
OTHERS : 285,000.00
TOTAL
ASSETS : 1,550,311,176.00
LIABILITIES
BANKS/SUPPLIERS :
12,525,337.00
OTHERS : 19,553,816.00
TOTAL
CURRENT : 32,079,153.00
SHAREHOLDERS'
EQUITY :
CAPITAL : 100,000,000.00
RESERVES : 46,940,835.00
PROFITS (LOSS) :
1,371,291,188.00
TOTAL
EQUITY : 1,518,232,023.00
TOTAL LIABILITIES : 1,550,311,176.00
SALES : 3,439,243,115.00
PROFIT (LOSS)
: 514,897,395.00
LIQUIDITY RATIO : 42.46
(Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 4,732.77% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 14.97% (Profits/Sales)
WORKING CAPITAL :
1,330,054,145.00 (Current
Assets - Current Liabilities)
PROPERTIES OF THE COMPANY -
Real estate where they
operate (at captioned address).
INSURANCE –
Company Amount Validity
SEGUROS MERCANTIL Bs.
1,700,000,000.= 06JUN2008
PAYMENTS RECORD
TRADE REFERENCES .-
Line
of Credit Terms(days))
Performance? Time Products/Services Supplier
1 Bs. 30,000,000.= 15-30 days Prompt 10+years Customs service Domestic
COMMENTS
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Subject is not active
seeker of local commercial credit; only services.
LIST OF DOMESTIC SUPPLIERS -
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier Telephone
ADUANERA MEBERLYN
AUTONICS CORP. 8232-6102723
AUTONIX CO. LTD. 8862-88661234
CROMPTON GREAVES
LTD. 9122-55558000
FATEK CO. LTD. 8862-28082192
KUNG HUNG ELECTRIC CO.
LTD. 822-22421277
LS INDUSTRIAL
SYSTEMS 822-20344641
METRONIX CO. LTD. 8253-5930066
OMRON ELECTRONICS
LLC. 1847-8437900
SASSIN 8621-50212745
BANKING INFORMATION
BANKERS
Bank Account #
BANCO PROVINCIAL 21-0100027184
BANCO BANESCO 37-2183002751
BANCO MERCANTIL 41-1102070262
COMMERCEBANK,
Florida-USA 8303002212
Per inside policies these
banks no longer provide references to third parties.
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%)