MIRA
INFORM REPORT
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Report Date : |
02.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CARIBBEAN CHEMICALS & AGENCIES LTD. |
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Registered Office : |
Carib Chem Complex, Cor. Churchilll Rosevelt Highway &
Cirrus Road, El Socorro, San Juan, |
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Country : |
Trinidad & Tobago |
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Date of Incorporation : |
20.12.1996 |
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Legal Form : |
Limited Company |
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Line of Business : |
Distributes Solvents, Surfactants, Ketones and other Inputs for
Manufacturers |
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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Maximum Credit Limit : |
US$90,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
CARIBBEAN CHEMICALS & AGENCIES LTD.
CARIB CHEM COMPLEX
EL SOCORRO
TRINIDAD & TOBAGO
Total Amount :
Monthly Payments :
$
Company Started : 1996
X
Partnership Employs : 100+
Proprietorship Sales : TT $100,000,000+
OTHER RATINGS :
Prompt
HISTORY/LEGAL
Caribbean Chemicals & Agencies Limited started operations in 1996
and was registered/incorporated in Trinidad & Tobago on December 20, 1996.
Authorized capital: TT$100,000,000 into 100,000,000 of TT$1 each. Registration # C-160.
SHAREHOLDERS
Angelica Pires
Victor Pires
Basil Pires
Joseph Pires
DIRECTORS
Joseph Pires Jnr.
Angelica Cecilia Pires
Victor Pires
Harry Seeram
MANAGEMENT
Joseph Pires Jnr. - Managing Director
Harry Seeram - Director/Marketing Manager
Joshia Mahabeer - Financial Controller
OPERATIONS
Distributes solvents, surfactants, ketones and other inputs for
manufacturers.
Supplier of agricultural chemicals inputs and industrial chemicals such
as silicones and food and industrial starches.
Exports to the English and Dutch speaking Caribbean,
Represents several international companies and agencies such as E. I.
DuPont, Bayer, Monsanto, American Cyanamid, Dow Corning, Sumitomo, Abbott
Laboratories, National Starch and
Employs 100+.
LOCATION
Carib Chem Complex, Corner Churchill Roosevelt Highway and Cyrus Road,
El Socorro, San Juan, Trinidad, West Indies.
Mailing address
ASSOCIATED COMPANIES
Caribbean Chemicals International Limited – started operations on
December 17, 1966 and was registered and incorporated in the Republic of
Trinidad & Tobago in 1966.
Caribbean Chemical Trinidad Limited
Caribbean Chemical Guyana Limited
Carib Chem Complex Limited – specializes in commercial rental of
warehouse and office facilities.
Jomatec – started in 1994 and
distributes mobile/cellular phones and accessories.
Total Safety Management – offers consultancy services in the area of
risk assessment. Provides safety
leadership coaching and operates a telephone help-line.
The Bowen Boat Company Limited – acquired in April 2004. Boat building.
CariFarms Limited – 85- acre farm located in
Carib Tixx - ticketing sales for major events.
BANKERS
RBTT Limited
Eastern
FINANCES
Caribbean Chemicals and Agencies Limited is a member of a diverse group.
Turnover was in excess of TT$100,000,000. This is large and profitable entity which has been
consistently profitable and is respected in the farming and chemicals sectors.
The company is registered as a private limited company and is therefore exempt
from filing and/or publishing annual audited accounts at the registrar of
companies under
COURT RECORDINGS
CREDCONS database does not reveal any litigation, suit, bankruptcy and
judgement against the name Caribbean Chemicals & Agencies Limited.
FOREIGN SUPPLIERS
Agrotech Industry Limited
Mosanio
Cheminova
Helm
Bayer Corporation
Agricultural Division
MO. 64120
E.I. DuPont
Bonanza Seeds
B.A.S.F.
Shin Yuen
Scotts Company
Sumitomo
Jacto
Imports from the Far East, Europe, South America and the
PAYMENTS
Bankers extend facilities in excess of TT$40,000,000. Over the years the
company has handled credit facilities in excess of US$100,000.
CREDIT RATING
Credit bureau files carry no adverse rating against the name of the
company.
Bankers reported that the company had no record of default or
delinquency.
COMMENTS/SUMMARY
The oldest associated company has been in operation for over 40 years.
Caribbean Chemicals & Agencies Limited benefits from this association and
has experience handling credit facilities as high as US$90,000 - 180 days. It
has a record of handling US$six-figure credit facilities - 60 days as well.
Credit recommended.
EXCHANGE RATE: US$1.00 = TT$6.35
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. |
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%)