MIRA
INFORM REPORT
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Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
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Name : |
PROVISIONES SAMANO
S.A |
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Registered Office : |
Calle 1, Zona de Transferencia Manzana 1, Colonia Ejidos del Moral, elegación Iztapalapa, |
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
07.11.1984 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Import and wholesale trade of mass consumer products, such as beans, chilies, canned goods, among other items. |
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 : PROVISIONES SAMANO S.A.
TAXPAYER REGISTRATION : RFC PSA841115P76 OPERATING STATUS: Active
MAIN ADDRESS : Calle 1, Zona de Transferencia Mz.1, Colonia Ejidos del Moral,
elegación Iztapalapa,
CITY/PROVINCE/STATE : México D.F.
COUNTRY : MEXICO
TELEPHONE : (5255)5694.2332
FAX : (5255)5694.6168
SUMMARY
Incorporation : 1984 Operating Status : Active
Last Capital : Ps$840,000.= Pesos
Shareholders' Equity : Ps$21,971,448.= Pesos (Al 31.12.2004)
Annual Sales : 88,279,739.00 Pesos
Finantial Situation : SATISFACTORY
Employees : 18
QUALIFICATION
RATING : B2: ELIGIBLE FOR MODERATE CREDITS
PAYMENTS : P2: PAYMENTS USUALLY PROMPT
LEGAL BACKGROUNDS
LEGAL STATUS : Joint-Stock Company
DATE OF INCORPORATION : 07NOV1984
REGISTERED IN : México DF
NOTARY OFFICE : No.93, Pedro Porcayo Vergara.
DURATION : 99 years
REGISTRATION : Deed 15583, Volume 333.
CURRENT PAID-IN CAPITAL : Ps$840,000.= Pesos
SHAREHOLDERS' EQUITY : Ps$21,971,448.= Pesos (As of 31.12.2004)
CURRENT EXCHANGE RATE : Ps$10.91 per 1.00 US Dollar
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
SAMANO SAINZ MAZA, ALFREDO General Manager 70%
ROJAS HOYO, VICTOR MANUEL Accountant
LOPEZ HERRERO, FRANCISCO Shareholder 10%
DOMINGUEZ ESCANCIANO, FERNANDO Shareholder 10%
DOMINGUEZ SANCHEZ, MARIA BEGOÑA Shareholder 10%
WHO IS WHO ?
SAMANO SAINZ MAZA, ALFREDO
NATIONALITY : Spaniard
BORN : 21JUL1947
DOC. OF IDENT. : C.E. FM2 119241
BUSINESS
MAIN ACTIVITY : Import and wholesale trade of mass consumer products, such as
beans, chilies, canned goods, among other items.
IMPORT : Yes Food products from Australia, Canada, China, India and USA.
EXPORT : No
% CASH SALES/METHOD : 1%
% CREDIT SALES/TERMS : 99% Terms of 30 days.
% DOMESTIC PURCHASES : 30%
% FOREIGN PURCHASES : 70%
SELLING TERRITORY : 100% in the Mexican market.
EMPLOYEES : 18
FACILITIES .-
Premises : Rented
Use : Administrative office, commercial office, store and warehouse.
Remarks and other Premises .-
Formerly, they operated from Bodega F-38, Central de Abastos, Iztapalapa, Distrito Federal, C.P. 09040, Mexico, in real estate owned by the company , same which is rented to third parties at current.
FINANCIAL INFORMATION
We interviewed Mr. Alfredo Samano, General Manager. He confirmed us some information and/or updated other; however he has flatly refused to provide updated balance sheet and/or figures without offering explanation.
Tried to get such information from official and other local business sources but our efforts have proven negative.
As reference we are providing in this report the Balance Sheet of the company dated December 31st., 2004, expressed in Pesos (Ps$). Latest available figures in our database.
BALANCE SHEET DATE : 31DEC2004
TYPE OF BALANCE SHEET : Annual
BALANCE SHEET OF : 12 months
CURRENCY : Pesos
EXCHANGE RATE PER US$ : 11.17
ASSETS
TOTAL CURRENT : 38,205,631.00
FIXED : 985,609.00
TOTAL ASSETS : 39,191,240.00
LIABILITIES
TOTAL CURRENT : 17,219,792.00
TOTAL EQUITY : 21,971,448.00
TOTAL LIABILITIES : 39,191,240.00
SALES : 88,279,739.00
PROFIT (LOSS) : 12,989,156.00
LIQUIDITY RATIO : 2.22 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY RATIO : 127.59% (Shareholders'equity/Current Liabilities)
PROFITABILITY MARGIN : 14.71% (Profits/Sales)
WORKING CAPITAL : 20,985,839.00 (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 Validity
CIA. DE SEGUROS ATLAS SA Yearly
PAYMENTS RECORD
TRADE REFERENCES .-
Line of Credit Monthly Average _ Terms(days)) Performance? Time Products/Services Supplie
1 Ps$ 800,000.= Ps$ 200,000.= I/30 days Prompt 20years Seeds, beans Domestic
2 No specified No specified Ch/Cash Prompt 10years Seeds, rice, beans. Domestic
COMMENTS .-
Apart, we consulted with a third company but they have not responded yet our referente requests.
LIST OF DOMESTIC SUPPLIERS
Suppliers listed Alphabetically. There is not relationship as for the order above
Supplier Telephone
AGRICOLA SIEMEL LTD.
ASIAN COOMODITIES CORP.
CHILLIES SPORT HOUSE LTD.
FISHCO AS IMPORT & EXPORT
LEADING STAR TRADING COMPANY
MEXICANA DE VIVERES SA DE CV (52-55)56940731
MIRIANI AUSTRALIA CO.
SPICE CO. LTD.
SURTIDORA ABARROTERA SA DE CV (52-55)56940752
VIVERES AZTECAS SA DE CV (52-55)56940026
WESTERN TRADING COMPANY
WORKEL SEEDS LTD.
LIST OF FOREIGN SUPPLIERS .-
Suppliers listed Alphabetically. There is not relationship as for the order above
Supplier Country
AGRICOLA SIEMEL LTD.
ASIAN COOMODITIES CORP. CHINA
CHILLIES SPORT HOUSE LTD. INDIA
FISHCO AS IMPORT & EXPORT CANADA
LEADING STAR TRADING COMPANY
MIRIANI AUSTRALIA CO. AUSTRALIA
SPICE CO. LTD.
WESTERN TRADING COMPANY
WORKEL SEEDS LTD. CANADA
CREDIT RISK CENTRAL .-
No negative were found.
CREDIT HISTORY .-
Report of year 2005 also showed a good payment performance of the company.
BANKING INFORMATION
BANKERS
Bank Contact Account # DC
BANCO NACIONAL DE MEXICO Luis Alfonso Aldana 1858251 X
Subject works accounts with this bank, which refused to provide further particulars under confidentiality 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%)