MIRA
INFORM REPORT
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Report Date : |
27.10.2007 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIA CLAUDETTE S.A. |
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Registered Office : |
Calle I, Zona
Industrial de Herrera, Santo Domingo |
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Country : |
Dominican Republic |
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Date of Incorporation : |
13.03.1986 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Manufacture and
commercialization of chemical cleansers, ink, detergents, products for water treatment
as well as for industrial, domestic, hotel maintenance, among other. |
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 |
IDENTIFICATION
CORRECT COMPANY NAME : INDUSTRIA CLAUDETTE S.A.
TAXPAYER REGISTRATION : RNC 101155795
OPERATING STATUS :
Active
MAIN ADDRESS :
Calle I, Zona Industrial de Herrera,
CITY/PROVINCE :
Santo Domingo
DEPARTMENT/STATE :
Santo Domingo
COUNTRY :
DOMINICAN REPUBLIC
TELEPHONE :
(1809)534.0650/530.1006
FAX : (1809)530.3018
E - MAIL : egonzalez@industriasclaudette.com
WEB SITE : www.industriasclaudette.com
COMMENTS -
Other e-mail:
claudette@verizon.net.do.
SUMMARY
Incorporation
: 1986
Operating Status :
Active
Last Capital
: RD$100,000.= Pesos
Shareholders' Equity : RD$12,720,000.= Pesos (Al
31.12.2006)
Annual Sales
: 95,400,000.00 Pesos
Finantial Situation
: LIGHTLY FAIR
Employees
: 32
CR-Rating
: Satisfactory
Payments
: Usually to terms/good
QUALIFICATION
RATING : Satisfactory
PAYMENTS : Usually to terms/good
LEGAL BACKGROUNDS
LEGAL STATUS :
Joint-Stock Company
DATE OF INCORPORATION : 13MAR1986
REGISTERED IN :
Santo Domingo
CURRENT PAID-IN CAPITAL : RD$100,000.= Pesos
SHAREHOLDERS' EQUITY : RD$12,720,000.= Pesos (as of 31/12/2006)
LISTED AT STOCK EXCHANGE: No
CURRENT EXCHANGE RATE : RD$33.57 per USD1
COMMENTS -
Personal information of
the executives was not disclosed for security reasons but found out all of them
are Dominicans.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
CAÑAL ROLDAN,
CRISTELA General Manager Yes
TEJADA, AMERICO Finance Manager
SANTANA, JULIO Accountant
WHO IS WHO ?
CAÑAL ROLDAN, CRISTELA
NATIONALITY : Dominican
TEJADA, AMERICO
NATIONALITY : Dominican
RELATED COMPANY(IES)
COMPANY NAME COUNTRY TAX.REG. RELATION
CANO INDUSTRIAL C POR
A DOMINICAN RE 101019409 Related
BUSINESS
MAIN ACTIVITY -
Manufacture and
commercialization of chemical cleansers, ink, detergents, products for water
treatment as well as for industrial, domestic, hotel maintenance, among other.
Trademark: CLAUDETTE
IMPORT : Yes Germany and United States
EXPORT : No
SELLING TERRITORY :
100% - Domestic market
EMPLOYEES : 32
FACILITIES -
Use
: Headquarters and production plant
Remarks
and other Premises -
Premises are shared with
the company CANO INDUSTRIAL C POR A (which is not related to Subject Company).
COMMENTS -
Client portfolio is
mainly comprised by distributors and industrial companies.
FINANCIAL INFORMATION
Yahaira Cáceres
(Accounting Assistant) confirmed and/or update some general data she deemed convenient.
She also provided an extract of the Balance Sheets for the Fiscal Years closed
on December 31, 2006 and December 31, 2005, expressed in Pesos (Ps$).
BALANCE
SHEET DATE : 31DEC2006 31DEC2005
TYPE OF
BALANCE SHEET : Annual Annual
BALANCE
SHEET OF : 12
months 12 months
CURRENCY : Pesos Pesos
EXCHANGE
RATE PER US$ : 33.38 33.88
ASSETS
TOTAL
CURRENT : 45,775,000.00 31,011,111.00
FIXED : 2,725,000.00 1,831,603.00
TOTAL
ASSETS : 48,500,000.00 32,842,714.00
LIABILITIES
TOTAL
CURRENT : 35,780,000.00 24,590,027.00
TOTAL
EQUITY : 12,720,000.00 8,252,687.00
TOTAL
LIABILITIES : 48,500,000.00 32,842,714.00
Continuación ... : 31DEC2006 31DEC2005
SALES : 95,400,000.00 77,284,000.00
PROFIT
(LOSS) : 3,360,000.00 2,966,270.00
LIQUIDITY RATIO : 1.28
(Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 35.55% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 3.52% (Profits/Sales)
WORKING CAPITAL :
9,995,000.00 (Current Assets
- Current Liabilities)
FINANCIAL SITUATION : LIGHTLY FAIR
Financial standing is
considered to be Slightly Fair as liquidity ratio is rather acceptable. Working
capital is slightly satisfactory and shareholders equity cobres moderately the
liabilities. Positive results are also observed.
INDUSTRIAS CLAUDETTE is a
Dominican private company founded in 1986 engaged in the manufacture and
distribution of chemical solutions for industrial and institucional
maintenance.
Despite its level of
indebtedness, liquidity is acceptable and the Period closes with profits. Subject is reported favorably. No adverse
found.
INSURANCE -
There was not information
available in this regard.
PAYMENTS RECORD
TRADE REFERENCES –
Line of Credit Monthly Average Terms(days)) Performance?
Time Products/Services Supplier
1 Open RD$ 1,000,000.= 30, 45 days Prompt 5 years Raw material Domestic
2 RD$ 1,500,000.= RD$ 200,000/600,000 30 days Prompt 13 years Raw material Domestic
COMMENTS
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Other local supplier
refused to provide information due to internal policies.
LIST OF DOMESTIC SUPPLIERS -
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier Telephone
Doperco SA (1809) 5420655
Envases Tropicales C por
A (1809)
5306515
Interquímica SA (1809) 5305505
CREDIT HISTORY -
Trade backgrounds
reported a good payment performance by Subject.
LAWSUITS ? -
No legal actions or
claims have been initiated against Subject.
BANKING INFORMATION
BANKERS
Bank
BANCO POPULAR
DOMINICANO
The aforesaid bank
declined to give information about Subject accounts and/or operations under
privacy policy.
CREDIT OPINION
Consulted Credit Amount : US$200,000 Dollars/30 days Viable ? :
Subject Company may be
extended a credit limit amounting to US$55,000 Dollars.
NOTE: The Opinion given
is confidential, referential and without liability.
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%)