MIRA INFORM REPORT

 

 

Report Date :

29.09.2007

 

IDENTIFICATION DETAILS

 

Name :

FRANCHI REPRESENTAÇÕES IMPORTAÇÃO E EXPORTAÇÃO LTDA.

 

 

Registered Office :

Av. Santa Leopoldina, 1.375 – Sala 107, 29102-973 VILA VELHA / ES

 

 

Country :

Brazil

 

 

Date of Incorporation :

June 11, 1987

 

 

Com. Reg. No.:

32.200.351.989

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Export and import of nutritious products.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Company name

 

FRANCHI REPRESENTAÇÕES IMPORTAÇÃO E EXPORTAÇÃO LTDA.

 

 

Trade Name

 

FRANCHI

 

 

Economical Group

 

FRANCISCO LOPES

 

 

Address

 

Av. Santa Leopoldina, 1.375 – Sala 107

29102-973 VILA VELHA / ES - Brasil

 

 

Legal information

 

Legal Status:                             Private Limited Company

Incorporation date:                     June 11, 1987

Register number #:                     32.200.351.989

Tax contributor (CNPJ):              31.490.592/0001-09

Registered Capital:                     R$200.000,00

Number of employees:                Not informed.

Branches:                                 01

 

 

History

 

Established on June 11, 1987, chartered at the State Commerce Registration Office of Espírito Santo (JUCEES) under #32.200.351.989, into the present registered name.

 

Partnership:

 

Valter Francisco Lopes               (Joined 05/1998)            - 99,0%

Brazilian, CPF: 521.974.508-59

Milton Luiz Ferreira                    (Joined 12/2006)            - 01,0%

Brazilian, CPF: 812.208.808-25

 

Management:

 

Valter Francisco Lopes

Brazilian, Married, CPF: 521.974.508-59

 

 

Properties

 

Not informed.

 

Registered line of business:

Export and import of nutritious products

 

Main Products:

Nutritious goods

 

Import countries:

Not informed.

 

Export countries:

Not informed.

 

Purchases and Sales:

 

100% - Domestic market

 

 

Related Companies

 

Stock participation:

 

KHAMEL REPRESENTAÇÕES IMP. E EXP. LTDA.         - CNPJ: 49.337.108/0001-63

- Valter Francisco Lopes                                     - 99,0%

- Milton Luiz Ferreira                                                      - 01,0%

POTY INDÚSTRIA DE ALIMENTOS LTDA.                       - CNPJ: 36.314.003/0001-47

- Valter Francisco Lopes                                     - 99,0%

- Milton Luiz Ferreira                                                      - 01,0%

 

 

Financial Data

 

According to the Brazilian Law Private Limited Companies are not obliged to file financial accounts for public inspection.

 

The following financial statement was obtained through outside sources consulted.

 

Interim balance sheet as of 30/10/2006 – US$1.00 = R$2,143

 

Balance sheet information for fiscal year ending:

 

31/12/2005 – US$1.00 = R$2,341

31/12/2004 – US$1.00 = R$2,654

 

Figures are in (Units of) Reais R$:

 

Assets

10/2006

2005

2004

Current Assets

805.866

860.686

651.181

Inventory

0

0

42.525

Other Assets

805.866

860.686

608.656

Long Term Assets

36.834

36.834

36.833

Fixed Assets

179.547

179.546

180.300

Investment

179.547

179.546

179.545

Immovable

0

0

755

Total Assets

1.022.247

1.077.066

868.314

 

Liabilities

2006

2005

2004

Current Liabilities

30.360

119.506

54.116

Net Equity

991.887

957.560

814.198

Capital

200.000

200.000

200.000

Reserves

50.454

50.454

50.454

Accumulated Profit (Loss)

741.433

707.106

563.744

Total Liabilities

1.022.247

1.077.066

868.314

 

Income Statement

10/2006

2005

2004

Annual Net Sales

159.832

68.173

108.255

Gross Income

42.984

68.173

108.255

Operating Income

46.913

198.921

39.214

Net Income

34.326

143.362

19.744

 

Financial Analysis

10/2006

2005

2004

Current Ratio

26,54

7,20

12,03

Current Debt Ratio

0,03

0,12

0,07

Total Debt Ratio

1,03

1,12

1,07

Working Capital

$775.506

$741.180

$597.065

 

 (Dollar rate US$1.00 = R$1,841 on 27/09/2007).

 

 

Banking

 

Banestes S/A. Banco do Estado do Espírito Santo           - branch 0104

 

Remark : banking comments could not be obtained due to legal restrictions from the Brazilian Law.

 

No returned checks were found either in the name of the company or partners.

 

 

Insurance

 

Not informed.

 

 

Payment information

 

Quando NT pagamentos = It was not possible to find out payments information through outside sources consulted.

 

 

Trade References

 

Main Suppliers:

Not informed.

 

Main clients:

Khamel Representações Importação e Exportação Ltda.

Poty Indústria de Alimentos Ltda.

 

 

Public Information

 

No negative information was found.

 

 

Remarks

 

The information in this report were obtained from outside sources and public records consulted.

 

 

Final Opinion

 

We believe it may be possible to have trade relation with the subject company with amounts that fit to its economic-financial resources, under usual terms. When higher amounts are involved we recommend dealing under secured terms.

 

 

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.

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions