MIRA
INFORM REPORT
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Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
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Name : |
OVERSIL S.A. |
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Registered Office : |
Justicia No. 1878,
Montevideo, P O Box 11600 |
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Country : |
Uruguay |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
06.05.1983 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Import and trade of new
and used automobiles and sport motorcycles, as well as accessories and spares
for same. |
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 : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : OVERSIL S.A.
TAXPAYER REGISTRATION : RUC 211433080017
OPERATING STATUS :
Active
MAIN ADDRESS :
Justicia No. 1878
CITY/PROVINCE :
Montevideo, POBOX 11600
COUNTRY : URUGUAY
TELEPHONE :
(5982)402.0997
FAX : (598)401.9971
E - MAIL : oversil@oversil.com.uy
COMMENTS -
Other email: marsoler@oversil.com.uy
This report supersedes
our report previously issued on 06.09.2007.
SUMMARY
Incorporation
: 1983
Operating Status :
Active
Last Capital
: Ps$ 35,000,000.=
Shareholders' Equity : US$3,903,476.=(31.12.2006)
Annual Sales
: 13,133,606.00 US$ Dollar
Employees
: 65
QUALIFICATION
RATING : Satisfactory
PAYMENTS : No further credit experience available
LEGAL BACKGROUNDS
LEGAL STATUS :
Joint-Stock Company
DATE OF INCORPORATION : 06MAY1983
REGISTERED IN :
Montevideo
NOTARY OFFICE :
Ana María Labanca
CURRENT PAID-IN CAPITAL : Ps$ 35,000,000.=
SHAREHOLDERS' EQUITY : US$3,903,476.=(31.12.2006)
CURRENT EXCHANGE RATE : Ps$ 24.35 per 1.00 US
Dollar
HISTORY
OVERSIL, S.A. has been
linked to Automoviles Citroen since its beginnings, whose founder and main
shareholder was Mr. Jorge Soler Garmendia (deceased).
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE
OWNERSHIP %
SOLER ALFARO, ANDRES President 34%
SOLER NIETO, MARTIN Vice President 33%
SOLER ALFARO, GERMAN Secretary 33%
AZNARES QUINTANA,
DANIEL General Manager
MARTINEZ, GERARDO Sales Manager
RELATED COMPANY(IES)
As far as we know,
Subject is not related with other enterprises.
BUSINESS
MAIN ACTIVITY -
Import and trade of new
and used automobiles and sport motorcycles, as well as accessories and spares
for same.
Workshop service and sell
automotive lubricants and for the agro-industry as well.
Brands: CITROEN, BUELL ULYSSES, HARLEY DAVIDSON.
IMPORT : Yes From France and USA.
EXPORT : No
% CASH SALES/METHOD : 70%
% CREDIT SALES/TERMS : 30% (terms of 60 days to concessionaires)
SELLING TERRITORY : All sales are performed in the national market.
EMPLOYEES
: 65
FACILITIES -
Premises
: Own
Use
: Legal domicile, administrative office,
commercial office, showroom.
Remarks
and other Premises -
Subject has a workshop
and a selling branch at Av. Brasil No. 2537, Montevideo.
FINANCIAL INFORMATION
We interviewed Mr. Martin
Soler, Vice President, who provided us some information.
Regarding diclosure of financial
statements he said such information was regarded strictly confidential. Also it
was not possible to obtain Company's financials in outside sources, situation
preventing us from assessing with accuracy their trae financial standing.
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11.09.2007 We have
received from the company additional information including their balance sheet
dated December 31st., 2006, expressed in U.S. Dollars.
BALANCE
SHEET DATE : 31DEC2006
TYPE OF
BALANCE SHEET :
BALANCE
SHEET OF :
CURRENCY : US$
Dollar
EXCHANGE
RATE PER US$ : 1.00
ASSETS
TOTAL
CURRENT : 4,492,444.00
FIXED : 2,050,326.00
TOTAL
ASSETS : 6,542,770.00
LIABILITIES
TOTAL
CURRENT : 2,471,480.00
LONG TERM : 167,814.00
TOTAL
EQUITY : 3,903,476.00
TOTAL
LIABILITIES : 6,542,770.00
SALES : 13,133,606.00
PROFIT
(LOSS) : 235,080.00
Continuación ... :
31DEC2006
LIQUIDITY RATIO : 1.82 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 157.94% (Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 1.79% (Profits/Sales)
WORKING CAPITAL :
2,020,964.00 (Current Assets
- Current Liabilities)
INSURANCE –
Company Against Amount Validity
LA UNION DE PARIS All
risk US$4,200,000.= 2007
ALIANZA DO BAHIA All risk No specified 2007
PAYMENTS RECORD
TRADE REFERENCES –
COMMENTS
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Subject is not active
seeker of local trade credit due to the fact it fully sources from foreign
suppliers (100%).
LIST OF DOMESTIC SUPPLIERS –
Suppliers
listed Alphabetically.
Supplier
BUELL ULYSSES
CITROEN
LUBRICANTES TOTAL
PINTURAS BASF
LAWSUITS ? -
No legal actions were found
filed against this Company.
BANKING INFORMATION
BANKERS
Bank Contact
ABN AMRO BANK Lucia
Boix
All banking operations are
performed with that bank, which would not provide further particulars under
confidentiality policy.
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%)