MIRA
INFORM REPORT
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Report Date : |
02.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CP KELCO BRASIL S/A |
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Registered Office : |
Av. Araras, 799 – Chácara |
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Country : |
Brasil |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
22.06.1984 |
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Com. Reg. No.: |
35.300.106.105 |
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Legal Form : |
Joint Stock Company (Closed Capital) |
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Line of Business : |
Production of chemical products |
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 |
Head information
Company name :
CP KELCO BRASIL S/A
Economical Group : CP KELCO APS
Address :
Av. Araras, 799 – Chácara
Phone :
(55-19) 3404-4600 / 3442-4048
Fax :
(55-19) 3451-1948
E-mail :
andre.l.bueno@cpkelco.com, antonio.l.sicolin@cokelco.com
Web Site :
www.cpkelco.com
Legal information
Legal
Status : Joint Stock
Company (Closed Capital)
Incorporation
date : June 22, 1984
Register
number : 35.300.106.105
Tax
contributor (CNPJ) : 54.105.671/0001-46
Registered
capital : R$6.139.086,00
State
Registration # : 417.060.654.115
Number
of employees : 133
Branches :
05 – in
History
Established on June 22, 1984,
chartered at the State Commerce Registration Office of São Paulo (JUCESP) under
# 35.300.106.105
Previus Corporate name:
Citrus Colloids S/A
Hercules
Shareholders
CP KELCO APS -
99,9%
(joined 09/2000),
EDITH LUCIA MIKLOS VOGEL - 0,1%
(joined 04/1998), Brazilian, CPF:
001.706.748-00
Management: (06/2007
up to 04/2008)
LUIZ AURELIO FERREIRA AZZOLINO - Superintendent Director
Brazilian, Married, CPF: 046.665.758-71
JOSEMIR DA SILVA - Financial Director
Brazilian, Married, CPF: 084.331.488-50
STEPHEN DOUGLAS BAXTER - Operations Director
JULIO CÉSAR DE FRANCISCHI - Industrial Director
Brazilian, Married, CPF: 049.016.178-26
Properties
Not informed
Registered
line of business:
Production of chemical products
Main Products:
Concentrated aromatic
Sales:
27,30% - Domestic market
72,70% - International market
Related Companies
Stock participation:
CENTRO COMERCIAL E DE IDIOMAS
CNPJ: 02.977.426/0001-25
- Stephen Douglas Baxter -
80,00%
MICROSTAR DE
CNPJ: 07.725.616/0001-79
- Stephen Douglas Baxter -
50,00%
AUTO POSTO RAMAL LTDA
CNPJ: 49.310.691/0001-19
- Edith Lucia Miklos Vogel -
13,00%
Financial Data
The following financial statement
was obtained through outside sources consulted.
Balance sheet information for fiscal year
ending:
31/12/2006 – US$1.00 = R$2,138
31/12/2005 – US$1.00 = R$2,341
Figures are in (Thousands of) Reais R$:
Assets
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2006 |
2005 |
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Current Assets |
49.988 |
53.246 |
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Inventory |
17.200 |
19.125 |
Other Assets
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32.788 |
34.121 |
Long Term Assets
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14.366 |
11.469 |
Fixed Assets
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103.234 |
60.234 |
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Immovable |
102.974 |
60.214 |
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Deferred |
260 |
20 |
Total Assets
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167.588 |
124.949 |
Liabilities
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2006 |
2005 |
Current Liabilities
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11.072 |
12.170 |
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Suppliers |
7.340 |
7.743 |
Other liabilities
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3.732 |
4.427 |
Long Term Liabilities
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126.479 |
84.034 |
Net Equity
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30.037 |
28.745 |
Capital
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6.139 |
6.139 |
Reserves
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4.915 |
1.794 |
Accumulated
Profit (Loss)
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18.983 |
20.812 |
Total Liabilities
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167.588 |
124.949 |
Income
Statement
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2006 |
2005 |
Annual Net Sales
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72.985 |
82.330 |
Gross Income
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5.018 |
13.902 |
Operating Income
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2.761 |
6.828 |
Net Income
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1.802 |
4.499 |
Financial Analysis
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2006 |
2005 |
Current Ratio
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4,51 |
4,37 |
Current Debt Ratio
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0,36 |
0,42 |
Total Debt Ratio
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5,57 |
4,34 |
Working Capital
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$38.916 |
$41.076 |
(Dollar rate US$1.00 = R$1,887 on 08/08/2007).
Banking
Banco Bradesco S/A. -
branch 0151
Banco do Brasil S/A. -
branch 0216
Banco Itaú S/A. -
branch 0279
Remark:
banking
comments could not be obtained due to legal restrictions from the Brazilian
Law.
Up to August 08, 2007 no returned checks
were found either in the name of the company.
Insurance
Not informed
Payment information
317 invoices
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Information
on purchases: |
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JUL/2007 |
Last: |
R$227
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Average: |
R$6.428
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Information
on invoicing: |
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AUG/2006 |
Highest: |
R$163.865
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Average: |
R$16.367
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Information on accumulation:
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SEP/2006 |
Highest: |
R$360.795
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Average: |
R$30.784
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96% - prompt payments
2% -
delays from 06 up to 15 days
1% -
delays from 16 up to 30 days
1% - delays
from 31 up to 60 days
Trade References
Main
Suppliers:
COPERSUCAR COOP PROD
AGROMETAL
WIREX CABLE S/A
WALTEC EQUIPAMENTOS ELÉTRICOS LTDA
SUPRIR IMPORT E COMÉRCIO LTDA
Main
clients: Not informed
Public Information
Up to August 08, 2007, no negative
information was found.
Remarks
Contacted Mr. André L. Bueno, we requested the balance sheet
of 2006/2005/2004, however until the moment we didn't receive an answer.
The information in this report were obtained from outside
sources and public records.
Final Opinion
Based on the over all information available, the company can
be considered normal for business dealings at usual
trade terms and conditions.
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%)