MIRA
INFORM REPORT
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Report Date : |
15.05.2007 |
IDENTIFICATION DETAILS
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Name : |
CHEMINOVA S.A. |
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Registered Office : |
Manzana 9, Galpón 20,
Zona Franca de Iquique, Iquique |
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Country : |
Chile |
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Date of Incorporation : |
01.12.1983 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Import, export and
commercialization of personal care products, foodstuffs, oils, 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 : CHEMINOVA S.A.
TAXPAYER
REGISTRATION : RUT 95112000-6
OPERATING
STATUS : Active
MAIN
ADDRESS : Manzana 9, Galpón 20, Zona Franca de Iquique
CITY/PROVINCE/STATE :
Iquique
COUNTRY : CHILE
TELEPHONE :
(5657)41.2873/41.3435
FAX : (5657)41.2873
SUMMARY
Incorporation :
1983
Operating
Status : Active
Last
Capital : No precisado
Employees :
36
LEGAL BACKGROUNDS
LEGAL
STATUS : Joint-Stock Company
DATE
OF INCORPORATION : 01DEC1983
REGISTERED
IN : Iquique
DURATION : Indefinite
CURRENT
PAID-IN CAPITAL : Not specified
LISTED
AT STOCK EXCHANGE : No
CURRENT
EXCHANGE RATE : Ps$521.15 per 1.00 US
Dollar
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL
NAMES / COMPANY NAME TITLE OWNERSHIP %
ESPINOZA SILVA,
ALBERTO General
Mg/Legal Rep Yes
ADELCO
S.A. Shareholder Yes
RELATED COMPANY(IES)
Subject is related with
the following enterprises:
COMPANY
NAME COUNTRY RELATION
ADELCO S.A. CHILE Related
CODINA S.A. CHILE Related
BUSINESS
MAIN
ACTIVITY .-
Import, export and
commercialization of personal care products, foodstuffs, oils, among other
products.
Among the products
featured by this company we can list: Shampoo, soaps, cologne, bath gel, olive
oil, canned fish, paella, crystalware, towels, etc.
Trade brands: GAL,
COOSUR, CUETARA, BARMIOLI ROCCO.
IMPORT : Yes Mexico, Spain, Italy and Colombia.
EXPORT : No
%
CASH SALES/METHOD : 20%
%
CREDIT SALES/TERMS : 80%; (30-day credit terms).
%
FOREIGN PURCHASES : 100%
SELLING
TERRITORY : National market
EMPLOYEES : 36
FACILITIES
-
Premises :
Rented
Use : Legal domicile, administrative offices and
warehouse.
COMMENTS
-
Subject has the exclusive
representation for the GAL product line (personal higiene products). Likewise, it is a representative and
distributor for COOSUR (Spain), crackers CUETARA, canned foods VIGILANTE,
BORMIOLI ROCCO (Spain and Italy).
Sales are oriented to
supermarket chains and to retailers, etc.
FINANCIAL INFORMATION
Information request was
submitted to Mr. Alberto Espinoza (General Manager), but he has not responded.
We called the company and
they say Mr. Espinoza is in a business trip. In absence of Mr. Espinoza, Mr.
Gonzalo Chandía (Chief of Sales) confirmed basic data and declined financial
statements per confidentiality.
Financial statements
and/or enough references of the company could not be obtained from outside
sources to evaluate its performance.
INSURANCE
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Information relative to
insurance policies could not be obtained.
PAYMENTS RECORD
TRADE
REFERENCES -
COMMENTS -
The consulted agent does
not provide references.
No information was provided
regarding the foreign suppliers subject works with.
LIST
OF DOMESTIC SUPPLIERS –
Suppliers listed
Alphabetically.
Supplier
FERNANDO CORREA AGENTE DE
ADUANA
CREDIT
HISTORY -
No significant local
trade credit of this company were traced.
LAWSUITS
? -
No lawsuits or judgements
against this firm were found.
BANKING INFORMATION
BANKERS
Bank
CORBANCA
Subject works accounts
with this bank, which would not provide references under banking privacy laws
in the country.
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%)