MIRA
INFORM REPORT
|
Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
FRACO FABRICA COLOMBIANA DE REPUESTOS AUTOMOTORES S A |
|
|
|
|
Registered Office : |
Avenue 65 B 13 70, |
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|
Country : |
|
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|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
30/03/1965 |
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|
Legal Form : |
Limited Liability Company |
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|
|
Line of Business : |
Manufacture of parts and accessories for motor vehicles and their
engines |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
Identification and
Characteristics
|
Tax Identif. |
8600123401 |
|
Trade Identif. |
22394-04 |
|
Business Name |
FRACO FABRICA
COLOMBIANA DE REPUESTOS AUTOMOTORES S A |
|
Old Name |
COMERCIAL COLOMBIANA LIMITADA COCOL LIMITADA |
|
Business Address |
AVENUE 65 B 13 70, |
|
Telephone |
(1)2623400 |
|
Email |
|
|
Constitution Date |
30/03/1965 |
|
Business Start Date |
30/03/1965 |
|
Current Capital |
600.000.000,00 COLOMBIAN PESO |
|
Current Paid-Up Capital |
600.000.000,00 COLOMBIAN PESO |
|
Capital Evolution |
2003 - 600.000.000,00 - COLOMBIAN PESO |
|
Number of permanent employees |
193 |
|
Employees Evolution |
2007 – 193 2006 - 177 2005 - 174 2004 - 187 2003 – 208 |
|
Banks, Clients |
SUPPLIER: APOYO TEMPORAL DE COLOMBIA LTDA |
|
Activity Code |
D343000 - Manufacture of parts and accessories for motor vehicles and
their engines |
|
Secondary Business |
D341000 - Manufacture of motor vehicles |
|
Exporter |
YES |
|
Importer |
NO |
|
Status |
TRADING |
|
Status Date |
10/04/1965 |
Synthesis
|
Financial Situation |
VERY GOOD |
|
Typology |
LARGE COMMERCIAL/INDUSTRIAL COMPANY |
|
Background |
AVERAGE |
|
Incidents |
NON-EXISTENT OR SLIGHTLY SIGNIFICANT |
|
Credit Opinion |
RECOMMENDED UP TO 574.488.000,00 COLOMBIAN PESO |
Contacted person: Teresa Gmez (Portfolio). Deneg to provide informacin
commercial when not knowing the adressee final the study.
Trade References
|
(FIGURES EXPRESSED IN COLOMBIAN PESO) |
||||||
|
Supplier Name |
Amount |
Form of Payment |
Payment Terms |
Last Payment Date |
Product |
Payment Behaviour |
|
APOYO TEMPORAL DE COLOMBIA LTDA |
60.000.000,00 |
CHECK |
15 DAYS |
30/05/2007 |
SERVICIPS DE TEMPORALES |
GOOD |
Financial Elements
|
(COLOMBIAN PESO, MILES) |
Balance 2006 (12) |
Balance 2005 (12) |
Balance 2004 (12) |
|
Closing Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
|
Balance Type |
COMPLETE |
COMPLETE |
COMPLETE |
|
Source |
SUPERINTENDENCE |
SUPERINTENDENCE |
SUPERINTENDENCE |
|
Sales |
14.167.501,00 |
13.619.140,00 |
12.256.584,00 |
|
Results |
476.331,00 |
478.471,00 |
861.709,00 |
|
Capital |
13.424.860,00 |
12.465.304,00 |
11.868.459,00 |
|
CP Liabilities |
2.250.869,00 |
3.731.437,00 |
2.476.996,00 |
|
Circulating Assets |
9.563.897,00 |
9.104.139,00 |
7.204.248,00 |
|
Total Assets |
18.416.002,00 |
16.196.741,00 |
14.345.455,00 |
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|||
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Last Balance: |
31/12/2006 |
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|
Figures for the last balance from: |
SUPERINTENDENCE |
||
External Activity
|
Activity |
Year |
Operation Percentage |
|
Countries |
|
EXPORTS |
2006 |
|
|
|
Negative Information
|
Payment Irregularities |
|
|
|
|
|
No found |
|
|
Legal Irregularities |
|
|
|
|
|
No records found |
|
|
Public Competition Procedures |
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|
|
|
|
No records found |
|
Company Obligations
|
Type of Obligación |
Period |
Situation |
Information Date |
Publication Date |
|
Source |
|
DUTY OF REGISTRATION UPDATE |
2007 |
COMPLIED WITH |
23/03/2007 |
23/03/2007 |
|
C.C. |
|
DUTY OF REGISTRATION UPDATE |
2006 |
COMPLIED WITH |
23/03/2006 |
23/03/2006 |
|
C.C. |
|
DUTY OF REGISTRATION UPDATE |
2005 |
COMPLIED WITH |
17/03/2005 |
17/03/2005 |
|
C.C. |
|
DUTY OF REGISTRATION UPDATE |
2004 |
COMPLIED WITH |
02/04/2004 |
02/04/2004 |
|
C.C. |
Main Administrators
|
Position |
Surnames and first name |
Cell |
Date of appointment |
|
LEGAL REPRESENTATIVE |
VELANDIA LEAL, JORGE ALBERTO |
00000045826 |
21/11/2003 |
|
ALTERNATE LEGAL REPRESENTATIVE |
VELANDIA LEAL, MARIA LUCILA |
00020172555 |
21/11/2003 |
|
ALTERNATE LEGAL REPRESENTATIVE |
VELANDIA LEAL, CARLOS EDUARDO |
00079386187 |
21/11/2003 |
|
ALTERNATE LEGAL REPRESENTATIVE |
NUNEZ VELANDIA, PASTOR EDUARDO |
00019452747 |
21/11/2003 |
|
CHAIRMAN |
VELANDIA LEAL, JORGE ALBERTO |
00000045826 |
21/11/2003 |
|
MEMBER OF BOARD OF DIRECTORS |
MOJICA VELANDIA, ANA MARIA |
00052255962 |
13/12/2005 |
|
MEMBER OF BOARD OF DIRECTORS |
VELANDIA ZAMBRANO, CANDIDO ALBERTO |
00017151985 |
13/12/2005 |
|
MEMBER OF BOARD OF DIRECTORS |
OCHOA NUNEZ, HERNANDO |
00017112415 |
13/12/2005 |
|
MEMBER OF BOARD OF DIRECTORS |
MOJICA VELANDIA, FRANCISCO JOSE |
00079944737 |
09/04/2005 |
|
MEMBER OF BOARD OF DIRECTORS |
VELANDIA LEAL, MARIA LUCILA |
00020172555 |
21/11/2003 |
|
MEMBER OF BOARD OF DIRECTORS |
OCHOA VELANDIA, ALEJANDRO |
00079426454 |
21/11/2003 |
|
GENERAL MANAGER |
NUNEZ VELANDIA, PASTOR EDUARDO |
00019452747 |
21/11/2003 |
|
GENERAL MANAGER |
VELANDIA LEAL, MARIA LUCILA |
00020172555 |
21/11/2003 |
|
GENERAL MANAGER |
VELANDIA LEAL, CARLOS EDUARDO |
00079386187 |
21/11/2003 |
Publications
|
Legal: |
||||
|
Type of Article |
Date |
Announcement Num. |
Source |
Place of Publication |
|
CHANGE OF NAME |
31/03/2007 |
ND |
C.C. |
C.C. |
|
REVOCATION |
05/01/2006 |
N.D. |
C.C. |
C.C. |
|
APPOINTMENT |
13/12/2005 |
N.D. |
C.C. |
C.C. |
|
REVOCATION |
12/04/2005 |
N.D. |
C.C. |
C.C. |
|
APPOINTMENT |
09/04/2005 |
N.D. |
C.C. |
C.C. |
Additional Comments
|
With effect until: 31/12/2020 Legal Representative borrowing limit: until (1000) monthly minimum
wages The company and its managers are not listed on the US Department of the
Treasury Foreign Narcotics Kingpin Designation Act. ( |
Balance Sheet
(ASSETS)
|
(COLOMBIAN PESO, MILES) |
2006(12) |
2005(12) |
2004(12) |
|
Source |
SUPERINTENDENCE |
SUPERINTENDENCE |
SUPERINTENDENCE |
|
A - Liquid Assets |
9.563.897,00 |
9.104.139,00 |
7.204.248,00 |
|
Shareholders by Unrequired Payments |
n.a. |
n.a. |
n.a. |
|
Cash |
335.272,00 |
196.643,00 |
113.387,00 |
|
Customers |
2.917.891,00 |
2.180.578,00 |
1.518.401,00 |
|
Accounts collectable from shareholders |
0,00 |
0,00 |
0,00 |
|
Accounts collectable various |
249.676,00 |
726.026,00 |
226.722,00 |
|
Provision for defaulting accounts |
-14.719,00 |
-10.989,00 |
-112.443,00 |
|
Temporary Investments |
14.349,00 |
19.069,00 |
23.776,00 |
|
Deferred |
118.584,00 |
112.991,00 |
92.465,00 |
|
General Stock |
1.641.236,00 |
1.579.409,00 |
629.029,00 |
|
Merchandise |
n.a. |
n.a. |
n.a. |
|
Finished products |
2.574.017,00 |
2.801.350,00 |
2.716.646,00 |
|
Products in process |
454.710,00 |
409.792,00 |
316.096,00 |
|
Raw materials |
1.272.881,00 |
1.089.270,00 |
1.680.169,00 |
|
Short-term own shares |
n.a. |
n.a. |
n.a. |
|
Other current assets |
n.a. |
n.a. |
n.a. |
|
B - Fixed Assets |
8.852.105,00 |
7.092.602,00 |
7.141.207,00 |
|
Property, Plant and Equipment |
4.889.260,00 |
3.569.486,00 |
3.661.025,00 |
|
Intangibles |
0,00 |
0,00 |
0,00 |
|
Permanent investments |
131.360,00 |
0,00 |
0,00 |
|
Long-term debtors |
0,00 |
0,00 |
0,00 |
|
Long-term deferred debt |
0,00 |
0,00 |
0,00 |
|
Own shares |
n.a. |
n.a. |
n.a. |
|
Valuations |
3.831.485,00 |
3.523.116,00 |
3.480.182,00 |
|
Other fixed assets |
0,00 |
0,00 |
0,00 |
|
Total Assets |
18.416.002,00 |
16.196.741,00 |
14.345.455,00 |
Balance Sheet
(Liabilities + Capital)
|
(COLOMBIAN PESO, MILES) |
2006(12) |
2005(12) |
2004(12) |
|
Source |
SUPERINTENDENCE |
SUPERINTENDENCE |
SUPERINTENDENCE |
|
A - Short Term Liabilities |
2.250.869,00 |
3.731.437,00 |
2.476.996,00 |
|
Financial Obligations |
651.966,00 |
1.743.283,00 |
844.614,00 |
|
Suppliers |
694.431,00 |
973.744,00 |
501.232,00 |
|
Accounts payable |
399.694,00 |
375.780,00 |
335.500,00 |
|
Taxes to be paid |
258.937,00 |
428.967,00 |
592.662,00 |
|
Estimated liabilities and provisions |
0,00 |
0,00 |
0,00 |
|
Labour Obligations |
245.841,00 |
209.663,00 |
202.988,00 |
|
Short-Term Deferred Payments |
0,00 |
0,00 |
0,00 |
|
Bonds and Trade Bills |
0,00 |
0,00 |
0,00 |
|
Other Short-Term Liabilities |
0,00 |
0,00 |
0,00 |
|
B - Long-Term Liabilities |
2.740.273,00 |
0,00 |
0,00 |
|
Financial Obligations |
2.740.273,00 |
0,00 |
0,00 |
|
Accounts Payable in the Long Term |
0,00 |
0,00 |
0,00 |
|
Estimated liabilities and provisions |
0,00 |
0,00 |
0,00 |
|
Long-Term Deferred Payments |
0,00 |
0,00 |
0,00 |
|
Bonds and Trade Bills |
0,00 |
0,00 |
0,00 |
|
Other Long-Term Liabilities |
0,00 |
0,00 |
0,00 |
|
Total Liabilities |
4.991.142,00 |
3.731.437,00 |
2.476.996,00 |
|
C - Net Capital |
13.424.860,00 |
12.465.304,00 |
11.868.459,00 |
|
Capital |
600.000,00 |
600.000,00 |
600.000,00 |
|
Issue Premium |
0,00 |
0,00 |
0,00 |
|
Capital Surplus |
0,00 |
0,00 |
0,00 |
|
Capital Appreciation |
6.167.575,00 |
5.767.718,00 |
5.347.278,00 |
|
Reserves |
2.349.469,00 |
2.095.999,00 |
1.579.290,00 |
|
Statutory Reserves |
n.a. |
n.a. |
n.a. |
|
Legal Reserves |
n.a. |
n.a. |
n.a. |
|
Other Reserves |
n.a. |
n.a. |
n.a. |
|
Share dividends |
0,00 |
0,00 |
0,00 |
|
Yearly result (profit and loss) |
476.331,00 |
478.471,00 |
861.709,00 |
|
Result from previous years |
0,00 |
0,00 |
0,00 |
|
Result after inflation |
n.a. |
n.a. |
n.a. |
|
Appreciation surplus |
3.831.485,00 |
3.523.116,00 |
3.480.182,00 |
|
Total Liabilities + Capital |
18.416.002,00 |
16.196.741,00 |
14.345.455,00 |
Profit and Loss
Account
|
(COLOMBIAN PESO, MILES) |
2006(12) |
2005(12) |
2004(12) |
|
Source |
SUPERINTENDENCE |
SUPERINTENDENCE |
SUPERINTENDENCE |
|
Total Operating Revenue |
14.167.501,00 |
13.619.140,00 |
12.256.584,00 |
|
Operating Revenue |
n.a. |
n.a. |
n.a. |
|
Sales |
14.167.501,00 |
13.619.140,00 |
12.256.584,00 |
|
Other Operating Revenue |
n.a. |
n.a. |
n.a. |
|
Total Operating Costs |
13.398.599,00 |
12.619.872,00 |
10.515.150,00 |
|
Purchases |
8.992.525,00 |
8.661.111,00 |
7.002.119,00 |
|
Personnel Expenditure |
1.937.795,00 |
1.656.359,00 |
1.406.631,00 |
|
Costs of Third-Party Services |
n.a. |
n.a. |
n.a. |
|
Stock Appreciation |
n.a. |
n.a. |
n.a. |
|
Provisions for Depreciation |
n.a. |
n.a. |
n.a. |
|
Traffic provision variation |
n.a. |
n.a. |
n.a. |
|
Other Operating Costs |
2.468.279,00 |
2.302.402,00 |
2.106.400,00 |
|
Operating Result |
768.902,00 |
999.268,00 |
1.741.434,00 |
|
Total Financial Revenue |
0,00 |
0,00 |
0,00 |
|
>From Companies in the Group |
n.a. |
n.a. |
n.a. |
|
From associated companies |
n.a. |
n.a. |
n.a. |
|
Other financial revenue |
n.a. |
n.a. |
n.a. |
|
Profits from Financial Investment |
n.a. |
n.a. |
n.a. |
|
Positive Exchange Differences |
n.a. |
n.a. |
n.a. |
|
Total Financial Costs |
0,00 |
0,00 |
0,00 |
|
>From debts to companies in the Group |
n.a. |
n.a. |
n.a. |
|
>From debts to affiliate companies |
n.a. |
n.a. |
n.a. |
|
From other debts |
n.a. |
n.a. |
n.a. |
|
Financial Investment Losses |
n.a. |
n.a. |
n.a. |
|
Investment Provision Variation |
n.a. |
n.a. |
n.a. |
|
Exchange Differences |
n.a. |
n.a. |
n.a. |
|
Financial Results |
0,00 |
0,00 |
0,00 |
|
Total Extraordinary Revenue |
701.117,00 |
382.245,00 |
408.352,00 |
|
Profits from alienation of fixed assets |
n.a. |
n.a. |
n.a. |
|
Profit and Loss Account (Continuación) |
|
(COLOMBIAN PESO, MILES) |
2006(12) |
2005(12) |
2004(12) |
|
Source |
SUPERINTENDENCE |
SUPERINTENDENCE |
SUPERINTENDENCE |
|
Share operation profits |
n.a. |
n.a. |
n.a. |
|
Transferred Capital Subsidies |
n.a. |
n.a. |
n.a. |
|
Other extraordinary revenue |
n.a. |
n.a. |
n.a. |
|
Profit and Revenue carried over |
n.a. |
n.a. |
n.a. |
|
Total Extraordinary Costs |
1.036.950,00 |
591.292,00 |
691.723,00 |
|
Fixed Asset Provision Variation |
n.a. |
n.a. |
n.a. |
|
Losses from Fixed Assets |
n.a. |
n.a. |
n.a. |
|
Losses due to share operations |
n.a. |
n.a. |
n.a. |
|
Extraordinary Costs |
n.a. |
n.a. |
n.a. |
|
Costs and Losses Carried Over |
n.a. |
n.a. |
n.a. |
|
Extraordinary Results |
-335.833,00 |
-209.047,00 |
-283.371,00 |
|
Total Revenue |
14.868.618,00 |
14.001.385,00 |
12.664.936,00 |
|
Total Costs |
14.435.549,00 |
13.211.164,00 |
11.206.873,00 |
|
Result before taxes |
433.069,00 |
790.221,00 |
1.458.063,00 |
|
Taxes |
237.748,00 |
378.820,00 |
613.204,00 |
|
Adjustment for inflation |
-281.010,00 |
-67.070,00 |
-16.850,00 |
|
Result for the Year |
476.331,00 |
478.471,00 |
861.709,00 |
Main Ratios
|
|
2006 |
2005 |
2004 |
|
EVOLUTION |
|
|
|
|
Turnover Evolution |
4,03 % |
11,12 % |
|
|
Net Results Evolution |
-0,45 % |
-44,47 % |
|
|
PROFITABILITY |
|
|
|
|
Profitability |
3,36 % |
3,51 % |
7,03 % |
|
Operational Profitability |
5,43 % |
7,34 % |
14,21 % |
|
Net worth Profitability |
3,55 % |
3,84 % |
7,26 % |
|
Total Assets Profitability |
2,59 % |
2,95 % |
6,01 % |
|
Financial Assets Coverage |
|
|
|
|
INDEBTEDNESS |
|
|
|
|
Debt Ratio |
27,10 % |
23,04 % |
17,27 % |
|
Short Term Debts |
45,10 % |
100,00 % |
100,00 % |
|
Indebtedness without revaluation |
0,34 % |
0,29 % |
0,23 % |
|
Financial Leverage |
25,27 % |
13,99 % |
7,12 % |
|
Financial Assets |
0,00 % |
0,00 % |
0,00 % |
|
CASH |
|
|
|
|
Working Capital |
7.313.028,00 |
5.372.702,00 |
4.727.252,00 |
|
Current ratio |
4,25 |
2,44 |
2,91 |
|
Acid Test |
1,61 |
0,86 |
0,75 |
|
Immediate Availability |
-1.915.597,00 |
-3.534.794,00 |
-2.363.609,00 |
|
EFICIENCY |
|
|
|
|
Portfolio Recovery Days |
74,14 |
57,64 |
44,60 |
|
Creditors Days |
27,80 |
40,47 |
25,77 |
|
Stock Rotation Days |
237,91 |
244,40 |
274,65 |
|
Operational Cicle Days |
312,05 |
302,04 |
319,25 |
|
Fixed Assets Turnover |
0,77 |
0,84 |
0,85 |
Macroeconomic
Information
|
|
Value |
Date |
|
Exchange Ratio |
1.914,96 |
30/05/2007 |
|
Up to 12 months Devaluation |
8,68 |
31/05/2006 |
|
GDP |
5,13 |
25/04/2006 |
|
Up to 12 months Inflation |
4,12 |
31/05/2006 |
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 |
|
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%)