MIRA INFORM REPORT

 

 

Report Date :

31.08.2007

 

IDENTIFICATION DETAILS

 

Name :

PRACAU S.A.

 

 

Registered Office :

San Martin 66 5º piso of.519, (1004), Buenos Aires City

 

 

Country :

Argentina

 

 

Date of Incorporation :

01/09/1977

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Engaged in the import and commercialization of industrial supplies as raw materials for the rubber and plastic industries.

 

 

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 :

Usually correct

 

 

Litigation :

Clear

 

 

Registered Name   

 

PRACAU S.A.

CUIT: 30-57422059-6

 

 

Summary      

 

INCORPORATED IN 1977. BEGINNER OF ACTIVITIES. DUE TO ITS POLICY, FINANCIAL INFORMATION IS NOT SUPPLIED. OPERATIVE TREND: STABLE. IT DOESN'T REGISTER NEGATIVE. CREDIT TREATMENT: ACCEPTABLE.

 

 

Operations       

 

INDUSTRIAL SUPPLIES
IMPORT
COMMERCIALIZATION

 

 

Legal Structure   

 

Business type:      Public Limited Company
Incorporated:        01/09/1977
Registered:           23/09/1978
Duration:               99 years
End of fiscal year: December 31st

 

 

Contact       

 

Alfredo Btesh (President)

Legal address and Administration: San Martin 66 5º piso of.519, (1004), Buenos Aires City.

Phone: 54.11 4342.8546/4331.0501
E-mail: pracau@speedy.com.ar

Warehouse: Corrales 2691, Buenos Aires City.

 

 

Partners   

 

Board of directors appointed on 20/04/2005:

President:             ALFREDO BTESH
Vice-president:     JOSE BTESH
Alternate Director: CELINA FABIANA JALUSSI
Alternate Director: AMALIA ANGELA LISTA

Social signature use: In the charge of the President and Vice-president.

 

 

Corporate Stock       

 

Subscribed and paid-in capital: $ 160.000. It is represented by common shares.

 

 

Personal Information   

 

ALFREDO BTESH
Argentinian, married, CI. 5.914.426, with ad dress in Malabia 2430 8º Buenos Aires City.

He is registered in the following companies:

- LEYLER S.A.
- CENGI S.A.

JOSE BTESH
Argentinian, married, CI. 5.914.427, with address in Palpa 2440 Buenos Aires City.

CELINA FABIANA JALUSSI
Argentinian, CI. 8.224,909, with address in Charcas 3959 Buenos Aires City.

ANDREA AMALIA ANGELA
Argentinian, DNI. 14.023.433, with address in Palpa 2440 Buenos Aires City.

 

 

History   

 

The company was incorporated in Buenos Aires City in September/1977 and registered in the Public Registry of Commece on August 23rd of 1978 with the Nº 2898, Book 88 Volume "A".

Its original legal address was in other domicile, highlighting that on 12/04/2005 it moved to its current one of San Martín 66 P.5º Ofc.519 Buenos Aires City.

 

 

Economic-Financial Position   

 

Contact has been taken with Mr Alfredo Btesh, who refused to supply the required financial information, explaining that due teo the company's policy, this data is not supplied to third parties.

Therefore it has been necessary to consult other sources. And even in this way, no information about this company was registered.

 

 

Assets     

 

The company doesn't register properties to its name, highlighting that the one located in San Martin 66 5º of.519, Buenos Aires City belongs to Mr Alfredo Btesh.

It didn't mention the holding of vehicles.

 

 

Evolution and Results       

 

The company is engaged in the import and commercialization of industrial supplies as raw materials for the rubber and plastic industries.

It is representative of the following foreign companies:

L. WURFBAIN (HOLLAND)
SHUMS & CO (SRI LANKA)

FOREIG TRADE:
-------------
In the last twelve months it has carried out imports for a total value of US$ 1.623.966 from the following countries:

SINGAPORE:        US$ 1.344.586
SPAIN:                   US$    147.657
SIERRA LEONE:   US$      73.297
OTHERS:              US$      58.426

Up to now it didn't export.

Its main international suppliers are the one that it represents.

* 3 EMPLOYEES

 

 

 

 

 

 

 

Payment Record and Credit Risk      

 

BANKS:
------
NUEVO BANCO BISEL       Branch: Buenos Aires - Currenet Account Nº 987/3
HSBC BANK ARGENTINA     Branch: Microcentro  - Currenet Account Nº 465979

CREDIT RISK:
------------
February/2007 (last registered)

HSBC:     $ 290.300 - Situation 1

Situation1: Normal Fulfillment.

INSURANCE:
----------
BOSTON CIA. DE SEGUROS S.A.
ASOCIART ART

 

 

Concept       

 

Information from AFIP (ADMINISTRACION FEDERAL DE INGRESOS PUBLICOS):

SEIZURE:
--------
Nº 121033 - File Record 452
Date: 16/11/2005
Amount: $ 6.013,49
Interests: $ 902,02
Court Nº 122
Plaintiff: DGI
Removal: 23/11/2005

Fits to highlight that this record doesn't affect the company's commercial concept and that consulted sources didn't make objections about its payment record.

* WITHOUT OBSERVATIONS

 

 

Final Opinion    

 

Bearing in mind what has been exposed hereby, for credit treatment with this company we suggest taking care appropriate guarantees.

* FIT FOR CREDIT TREATMENT

 

 

 

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