MIRA INFORM REPORT

 

 

Report Date :

21.09.2007

 

IDENTIFICATION DETAILS

 

Name :

ALMACENES ALTAMIRA S.A. DE C.V.

 

 

Registered Office :

Zona 1, Sector 2, Nave 2, Bodega A7, Colonia Central de Abastos, Deleg. Iztapalapa, México DF, CP.09,040

 

 

Country :

Mexico

 

 

Date of Incorporation :

1996    

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Import, purchase and sale of grains and seeds

 

 

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

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME :   ALMACENES ALTAMIRA S.A. DE C.V.

TRADE NAME :                         "ALMACENES ALTAMIRA"

TAXPAYER REGISTRATION :     RFC  AAL960710RI4

MAIN ADDRESS :                     Zona 1, Sector 2, Nave 2, Bodega A7, Colonia Central de Abastos,

                                                Deleg.Iztapalapa,

CITY/PROVINCE/STATE :          México DF, CP.09,040

COUNTRY :                               MEXICO

TELEPHONE :                           (5255) 56941277

FAX :                                        (5255) 56945940

E – MAIL :                                 Nil

WEB SITE :                              Nil

 

 

SUMMARY

 

Incorporation                 : 1996  

Operating Status            : Active

Last Capital                               : Ps$50,000.= Pesos

Employees                                : 10

CR-Rating (1)                : ELIGIBLE FOR MODERATE CREDITS

Payments (2)                             : PAYMENTS USUALLY PROMPT

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS :                                  Stock Company of Variable Capital

DATE OF INCORPORATION :                 10JUL1996

PLACE OF REGISTRY :                         México DF

DURATION :                                          99 years

INITIAL CAPITAL :                                  Ps$50,000.= Pesos

CURRENT PAID-IN CAPITAL :                Ps$50,000.= Pesos

LAST CAPITAL INCREASE :                  No increase recorded

CLASS OF SHARES :                           Nominatives

LISTED AT STOCK EXCHANGE :           No

SHARE VALUE :                                   Ps$1.= Peso

CURRENT EXCHANGE RATE:                Ps$10.99 per 1.00 US Dollar

 

Subject is associated to the National Chamber of Commerce, Services and Tourism of the city of Mexico.

 

Personal data of the directors was declined per security reasons.

 

 

HISTORY

 

ALMACENES ALTAMIRA S.A. DE C.V. is a company created in 1996 by Manuel and Celestino Guemes Legarreta, both spanish businessmen residing in Mexico from that year and who are said to have many years of accumulated experience on particular activity.

 

 

DIRECTORS - EXECUTIVES - SHAREHOLDERS

 

FULL NAMES / COMPANY NAME                      TITLE                OWNERSHIP %

GUEMES LEGARRETA, MANUEL                      Director             Yes

GUEMES LEGARRETA, CELESTINO                 Director             Yes

 

 

WHO  IS  WHO ?

 

GUEMES LEGARRETA, MANUEL

NATIONALITY : Spanish

 

GUEMES LEGARRETA, CELESTINO

NATIONALITY : Spanish

 

 

RELATED COMPANY(IES)

 

Subject is not related to other enterprises as far as we know.

 

 

BUSINESS

 

MAIN ACTIVITY .-

 

Import, purchase and sale of grains and seeds, such as: pepper, cumin, clove, pumpkin seeds, Jamaica leaves, beans, lentils, spices.

 

IMPORT (Countries)       Yes :    From India, China, Canada, etc. against direct credit

% CASH SALES/METHOD :       100%

% DOMESTIC PURCHASES :    90%

% FOREIGN PURCHASES :      10%

SELLING TERRITORY : Local market (100%)

EMPLOYEES :                          10

 

FACILITIES .-

 

Floors : 1

 

Condition : One-storeyed premises plus basement

Use : Legal domicile, administrative offices also warehouse.

 

Remarks and other Premises .-

Premises are located in the Abastos Market (grocery market) in the city of Mexico, one of the largest and commercially busiest of America.

 

Subject has no other locations.

 

COMMENTS .-

 

The clients of this enterprise are the general public to whom sales are made at cash; also sell with 7-15 day credits to established clients.

 

 

FINANCIAL INFORMATION

 

We interviewed Mr. Manuel Guemes Legarreta (Director and Shareholder) who was kind to confirm general data regarding the activities of this enterprise, but he also indicated in order to evaluate the possibility of submitting more commercial data and their financials it was absolutely necessary for them to learn the name of the Requester, owing to security reasons as they have been already victims of kidnapping and armed robbery attempts. In view of our insistence he would only disclose monthly sales of the company are in the order of Ps$1,500,000.= Pesos.

 

Tried to get balance sheets or more figures in third parties but without success, situation preventing us from determining with accuracy their current financial standing. However, taking into account sales volume of the company and lack of adverse backgrounds, we estimate they are operating normally.

 

DETAILS OF MAIN ASSETS .-

- Electronic scale

- Telephone equipment

- Showcases

- Shelving

- Warehouse equipment

etc.

 

INSURANCE .-

 

Company                                

ING-COMECIAL AMERICA SA DE CV

 

 

PAYMENTS RECORD

 

TRADE REFERENCES .-

Supplier : Casa Abascal SA

Country : MEXICO

Activity : Pepper, comin, pumpkin seeds

 

Highest Credit? :  Not specified   (Ps$ 500,000.= monthly)

 

Client since? : 1996       Sales Terms? : Cash, 30 days    Performance? : Prompt

 

Supplier : Comecial Samano de Celestino Samano Guemes

Country : MEXICO

Activity : Jamaica leaf, beans, lentils, spices

 

Highest Credit? :  Not specified  (Ps$ 420,000.= monthly)

 

Client since? : 1996       Sales Terms? : Cash,30 days     Performance? : Prompt

 

Other Suppliers

 

Supplier                                      Country                

W.S.L.                                         CANADA

 

COMMENTS .-

Both suppliers classify subject as an excellent client.

 

 

BANKING INFORMATION

 

BANKERS .-

 

Bank                        

BANCO NACIONAL DE MEXICO SA

BBVA BANCOMER SA

 

The financial transactions of this enterprise are carried through said banks, which would not provide references per confidentiality.

 

 

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/normal.

 

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