MIRA
INFORM REPORT
|
Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
CENTRAL MOLINERA LA MERCED S.A. DE C.V. |
|
|
|
|
Registered Office : |
General
Anaya No.6, Locales A y B, Colonia Merced Balbuena, Delegación Venustiano Carranza,
México D.F./Estado de México CP 15810 |
|
|
|
|
Country : |
Mexico |
|
|
|
|
Financials (as on) : |
31.12.2004 |
|
|
|
|
Date of Incorporation : |
23.09.1991 |
|
|
|
|
Legal Form : |
Stock Company of
Variable Capital |
|
|
|
|
Line of Business : |
Engaged in the
importing, purchase and sale of dried chili and seeds. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : CENTRAL MOLINERA LA MERCED
S.A. DE C.V.
TAXPAYER REGISTRATION : RFC CMM910923DE1
OPERATING STATUS :
Active
MAIN ADDRESS :
General Anaya No.6, Locales A y B, Colonia
Merced Balbuena,
Delegación
Venustiano Carranza
CITY/PROVINCE/STATE :
México D.F./Estado de México CP 15810
COUNTRY : MEXICO
TELEPHONE :
(5255)5522.9494/5542.0732/5600.4164
FAX : (5255)5522.9494/5542.0732/5694.3031
E - MAIL : lamolinera@prodigy.net.mx
SUMMARY
Incorporation
: 1991
Operating Status :
Active
Shareholders' Equity : Ps$23,115.= Pesos (Al
31.12.2004)
Annual Sales :
23,449,279.00 Pesos
Employees
: 96
QUALIFICATION
RATING : SECURED CREDIT IS ADVISED
PAYMENTS : LITTLE CREDIT EXPERIENCE AVAILABLE
LEGAL BACKGROUNDS
LEGAL STATUS :
Stock Company of Variable Capital
DATE OF INCORPORATION :
23SEP1991
REGISTERED IN :
Mexico D.F.
DURATION : 99 years
INITIAL CAPITAL :
Ps$25,000.= Pesos
SHAREHOLDERS' EQUITY :
Ps$23,115.= Pesos (31.12.2004)
TYPE OF SHARES :
Nominatives
LISTED AT STOCK EXCHANGE : No
SHARE VALUE :
Ps$1.= Peso
CURRENT EXCHANGE RATE : Ps$10.78 per 1.00 USD
COMMENTS -
Subject is a member of
the National Chamber of Commerce in Mexico city.
Despite our effors, current
paid in capital amount has not been obtained.
HISTORY
It is known that Subject
is continuing the business activities of the firm MOLINO LA MERCED SA, which
was closed down.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
MERAYO GONZALEZ,
GERMAN General Manager 25%
MERAYO GONZALEZ,
ALVARO Sole Administrator
25%
GONZALES, JOSE Chief of Administration
MERAYO MACIAS,
ALVARO Shareholder 25%
MERAYO GONZALEZ,
LORENZO Shareholder
25%
RELATED COMPANY(IES)
Subject is related to the
following companies:
COMPANY NAME COUNTRY RELATION
INDUSTRIAL MOLINERA DE
CHILES EL BERCIALO MEXICO Related
INMOBILIARIA DEHESAS SA
DE CV MEXICO Related
BUSINESS
MAIN ACTIVITY .-
The Company is engaged in
the importing, purchase and sale of dried chili and seeds.
IMPORT : Yes From USA and India.
% CASH SALES/METHOD :
100%
% DOMESTIC PURCHASES : 80%
% FOREIGN PURCHASES : 20%
SELLING TERRITORY :
National market.
EMPLOYEES : 96
FACILITIES –
Floors : 2
Use
: Administrative offices, selling offices, warehouse and legal domicile.
Remarks
and other Premises .-
Regarding the premises at
captioned address, it is a two-storey building. Sales dpt. is operated from the
1st floor and the offices and warehouse are located on 2nd floor. Facilities are located in a busy commercial
zone of Mexico city, near La Merced market.
COMMENTS -
Import transactions are
carried out via direct transfers.
Sales are oriented to the
general public.
FINANCIAL INFORMATION
We interviewed Mr. Pedro
Martínez, in charge of Sales Department. He cooperated with part of the
required information.
Regarding disclosure of
financial statements, he indicated it is policy of the company not to reveal
this kind of information as it is regarded strictly confidential.
So the data contained in
report was also obtained from official registries and other third-party sources
we resorted to. Updated financial statements and/or figures for this company were not found available.
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 : 5,948,888.00
FIXED : 169,255.00
TOTAL
ASSETS : 6,118,143.00
LIABILITIES
TOTAL
CURRENT : 6,095,028.00
TOTAL
EQUITY : 23,115.00
TOTAL
LIABILITIES : 6,118,143.00
SALES : 23,449,279.00
PROFIT (LOSS) : 819,629.00
LIQUIDITY RATIO : 0.98 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 0.38% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 3.50% (Profits/Sales)
WORKING CAPITAL :
-146,140.00 (Current Assets - Current Liabilities)
INSURANCE –
Company Against Amount Validity
SEGUROS INBURSA SA Against
all risk No specified No specifi
PAYMENTS RECORD
TRADE REFERENCES –
Line of Credit Monthly Average Terms(days)) Performance? Time
Products/Services
Supplier
1 Ps$ 80,000.= Ps$ 25,000.= 15 days. Prompt 1995 Soaps and detergents. Domestic
COMMENTS
–
Other suppliers we
consulted in the local market have not answered our referente requests yet.
LIST OF DOMESTIC SUPPLIERS -
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier Telephone
AG. DE ADUANA CONSULTORES
DE COMERCIO (52-55)56150323
AMERICA SPIDER
FABRICA DE JABON LA
CORONA SA DE CV (52-55)57474545
FISHCO
LA GIRALDA SA DE CV (52-55)56338083
LIST OF FOREIGN SUPPLIERS -
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier Country
AMERICA SPIDER BRAZIL
FISHCO NORWAY
LAWSUITS ? -
No lawsuits were found
recorded against this Company.
BANKING INFORMATION
BANKERS
Bank
GRUPO FINANC.SANTANDER
SERFIN
BANCO INBURSA SA
Subject works accounts
with these banks, which declined to provide references due to confidentiality
policy.
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%)