MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DISTRIBUIDORA DE ROPA VIVA S.A. DE C.V. |
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Registered Office : |
Av. 513 2do Piso,
Colonia Granja, Delegación Iztacalco, Mexico D.F., CP 08400 |
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Country : |
Mexico |
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Date of Incorporation : |
1983 |
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Legal Form : |
Stock Company of
Variable Capital |
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Line of Business : |
Manufacture of item of
clothing for ladies, gentlemen and children. |
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 : DISTRIBUIDORA DE ROPA VIVA
S.A. DE C.V.
TAXPAYER REGISTRATION : RFC DRV-831005-EJ6
OPERATING STATUS :
Active
MAIN ADDRESS :
Av. 513 2do Piso, Colonia Granja, Delegación
Iztacalco
CITY/PROVINCE/STATE :
Mexico D.F., CP 08400.
COUNTRY : MEXICO
TELEPHONE :
(5255)5803.1435/5657.8900/5657.7744
FAX : (5255)5654.1321
COMMENTS -
The address at Delegación
Iztacalco Mayico da Reforma No 156, Piso 12, Caljuare 06600, Cuahuem, CP 08400
does not belong to any premises of the Company.
SUMMARY
Incorporation
: 1983
Operating Status :
Active
Last Capital
: No precisado.
Shareholders' Equity : Ps$117,507,000.= Pesos
(Al 31.12.2006)
Annual Sales
: 341,273,000.00 Pesos
Finantial Situation
: SATISFACTORY
Employees
: 900
QUALIFICATION
RATING : ELIGIBLE FOR CREDITS
PAYMENTS : NO FURTHER CREDIT EXPERIENCE AVAILABLE
LEGAL BACKGROUNDS
LEGAL STATUS :
Stock Company of Variable Capital
DATE OF INCORPORATION : 10.1983
REGISTERED IN :
Mexico DF.
DURATION : 99 years
CURRENT PAID-IN CAPITAL : No specified
SHAREHOLDERS' EQUITY : Ps$117,507,000.= Pesos (as of 31/12/2006)
LISTED AT STOCK EXCHANGE: No
CURRENT EXCHANGE RATE : Ps$10.89 per USD1
COMMENTS -
Shareholders structure
was not specified.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE
SALAME MICHA, SIMON Managing Director
SALAME MICHA,
SALOMON Finance Director
GONZALES RODRIGUEZ,
IGNACIO General Accountant
RELATED COMPANY(IES)
Subject Company is part
of Grupo Ropa Viva, formed in 1979 by Carlos Salamé Romano.
This Group is dedicated
to manufacturing and trading of textile products.
Operations are carried
out in the states of Tepejí del Río Hidalgo, Zitacuaro Michoacán and México DF.
In Tepejí del Río,
Hidalgo, fabric production accounts for 350,000 Kg./410,000 Kg. monthly. Dyeing
capacity exceeds 400,000 Kg. monthly. Apart from that, there is a
state-of-the-art laboratory to match colors required by clients.
In Zitacuáro, Michoacán,
there are 650 sewing machines with a monthly production capacity of 500,000
items of clothing.
In the City of Mexico,
there are 400 sewing machines with a monthly production capacity of about
300,000 /350,000 items of clothing.
COMPANY NAME COUNTRY RELATION
CONTABILIDAD Y
ADMINISTRACION SALMI S.A. D MEXICO Related
DISEÑOS Y MAQUILAS
INFANTILES S.A. DE C.V. MEXICO Related
MAQUILADORA MICHOACANA
S.A. DE C.V. MEXICO Related
BUSINESS
MAIN ACTIVITY .-
Manufacture of item of
clothing for ladies, gentlemen and children.
Products: Shirts,
t-shirts, shorts, casual clothes.
IMPORT : Yes USA, China, Taiwan; payments via bank transfers
EXPORT : Yes USA, Canada and Europe
% CREDIT SALES/TERMS :
100% within 30, 60 days
% FOREIGN SALES(COUNTRIES) : 50%
% DOMESTIC PURCHASES :
40%
% FOREIGN PURCHASES :
60%
SELLING TERRITORY :
Domestic and international markets
EMPLOYEES: 900
FACILITIES -
Premises :
Own
Use
: Headquarters, textile production plant
FINANCIAL INFORMATION
Once authorized, Ignacio
Gonzales, Accountant, provided with general information, including Balance
Sheet for the Fiscal Year ended as of December 31, 2006, expressed in Pesos, as
follows:
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 : 127,721,000.00
FIXED : 25,078,000.00
OTHERS : 22,356,000.00
TOTAL
ASSETS : 175,155,000.00
LIABILITIES
TOTAL
CURRENT : 57,648,000.00
TOTAL
EQUITY : 117,507,000.00
TOTAL
LIABILITIES : 175,155,000.00
SALES : 341,273,000.00
PROFIT (LOSS) : 10,917,000.00
LIQUIDITY RATIO : 2.22 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 203.84% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 3.20% (Profits/Sales)
WORKING CAPITAL :
70,073,000.00 (Current Assets
- Current Liabilities)
FINANCIAL SITUATION
: SATISFACTORY
Based on the last
Financial Statement, Subject's Financial Position is considered satisfactory.
Liquidity ratio is adequate and is over average. Working capital is good and allows company to
meet payments promptly. Relation between shareholders' equity and obligations
is acceptable. Economic results have been satisfactory.
INSURANCE –
Company Against
ING México Seguros All risk
PAYMENTS RECORD
TRADE REFERENCES –
Line
of Credit Monthly Average Terms(days)) Performance?
Time Products/Services Supplier
1 Ps$ 30,000
Ps$ 15,000/20,000 Check/30
day Prompt 1997 Courier service/import, e Domestic
COMMENTS
-
Other consulted suppliers
did not provide information.
LIST OF DOMESTIC SUPPLIERS -
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier Telephone
KALTEX S.A. DE C.V.
SANITEX S.A. DE C.V.
UPS DE MEXICO S.A. DE
C.V. 5255-52287950
BANKING INFORMATION
BANKERS
Bank
Banco HSBC
BBVA Bancomer
Subject Company is a
client of the above banks. Further details were not available under privacy
policy.
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%)