MIRA
INFORM REPORT
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Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AJAY SQM CHILE S.A |
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Registered Office : |
Av. Presidente Eduardo Frei Montalva 4960 Renca Santiago |
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Country : |
Chile |
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Year of Establishment : |
1990 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Manufacture of Chemicals made of iodine (iodate iodide and compounds)
and byproducts, including methyl iodide, potassium iodide, calcium iodide, copper
iodide, among others. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : AJAY SQM CHILE
S.A.
TAXPAYER REGISTRATION : RUT
96.592.180-K OPERATING STATUS: Active
MAIN ADDRESS : Av. Presidente
Eduardo Frei Montalva 4960 Renca
CITY/PROVINCE/STATE : Santiago
COUNTRY : CHILE
TELEPHONE : (562)443.7110
FAX : (562)443.7114
E - MAIL : ajaysqmchile@ajay-sqm.cl
SUMMARY
Incorporation : 1990 Operating Status : Active
Last Capital : Ps$500,000,000.=
Pesos
Finantial Situation : UNDETERMINED
Employees : 47
Rating : Lightly
Satisfactory
Business Trend : Stable, unchanged
QUALIFICATION
RATING : Lightly
Satisfactory
LEGAL
BACKGROUNDS
LEGAL STATUS : Joint-Stock
Company
DATE OF INCORPORATION : 1990
REGISTERED IN : Santiago
CURRENT PAID-IN CAPITAL :
Ps$500,000,000.=
Pesos
LISTED AT STOCK EXCHANGE : No
CURRENT EXCHANGE RATE : Ps$667 per USD1
HISTORY
Subject Company was created to provide assembly line plant service to
its Parent Company, which is the only supplier and receives the final
production.
DIRECTORS / EXECUTIVES /
SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
COVARRUBIAS GIORDANO,
PATRICIO General Manager
OLGUIN KIEL, NICOLAS Admin.
& Finance Manager
SOCIEDAD QUIMICA Y MINERA DE
CHILE SA Shareholder 100%
WHO IS WHO ?
SOCIEDAD QUIMICA Y MINERA DE CHILE SA
Chilean company
Short-form: "SOQUIMICA S.A."
Tax ID: RUT 930.070.00-9
RELATED COMPANY(IES)
Subject Company, along with other firms, is part of the so-called
"AJAY SQM", referred to as a
global leader in its three lines of business: Special vegetable nutrition;
iodine and lithium, and commercial operations in more than 20 countries
COMPANY NAME COUNTRY TAX.REG. RELATION
S.Q.M. ECUADOR S.A. ECUADOR 1791278127001 Related
S.Q.M. INDUSTRIAL S.A. CHILE
79.947.100-0 Related
S.Q.M. PERU S.A. PERU 20144118872 Related
SOCIEDAD QUIMICA Y MINERA DE
CHILE SA CHILE 93.007.000-9 Parent Co.
SOQUIMICH COMERCIAL S.A. CHILE 79.768.170-9 Related
SQM ARGENTINA SA ARGENTINA Related
SQM BELGICA BELGIUM Related
SQM FRANCE FRANCE Related
BUSINESS
MAIN ACTIVITY .-
Manufacture of chemicals made of iodine (iodate iodide and compounds)
and byproducts, including methyl iodide, potassium iodide, calcium iodide, copper
iodide, among others.
IMPORT : Yes Countries were
not specified
Annual Imports in US $(CIF) :
Year Amount
2004 112,222.09
2005 459,609.06
2006 1,639,768.00
2007 720,949.00
EXPORT : Yes
Annual Exports in US $(FOB) :
Year Amount
2004 14,818,106.00
2005 20,759,802.00
2006 33,789,212.00
2007 27,844,648.00
% CREDIT SALES/TERMS : 100% within 30
days
% DOMESTIC PURCHASES : 100%
SELLING TERRITORY : Domestic and foreign markets
EMPLOYEES : 47
FACILITIES .-
Premises : Own
Area : 4,103 m2 Floors : 3
Use : Headquarters, warehouse and plant
COMMENTS .-
The only client is the Parent Company - SOCIEDAD QUIMICA Y MINERA DE
CHILE S.A.
FINANCIAL INFORMATION
Once lots of formalities were completed, we
could talk to Nicolás Olguin Kiel (Administrative and Finance Manager) who
furnished the information contained in this report, except for the balance
sheets or accounting figures in compliance with corporate policies.
In order to supplement this report we
consulted third-party sources but even though we did our best, we were not able
to find updated balance sheets to assess Subject's results.
FINANCIAL SITUATION : UNDETERMINED
Although no financial elements were
available to determine Subject's results, based on the inquiries made, found
out Subject was formed in 1990, having no found negative backgrounds
against its reputation. Besides, it is backed up by an important business organization.
INSURANCE .-
Company
Against Amount Validity _
RCA (antes ROYAL)
All risk No
specified 31DEC2008
Coverage: Fixed assets, among other. Floating policy.
PAYMENTS RECORD
TRADE REFERENCES .-
COMMENTS .-
The only client and supplier is the Parent Company which fully supplies
Subject and trades its products.
LIST OF DOMESTIC SUPPLIERS .-
Suppliers listed Alphabetically.
Supplier _ Telephone _
Sociedad Química y Minera de Chile S.A. (5629 4252191
BANKING INFORMATION
BANKERS
Bank
BANCO BCI
BANCO DE CHILE
CITIBANK N.Y.
Found out Subject deals with the above banks. Additional details were unavailable
Ander bank policies.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.71 |
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UK Pound |
1 |
Rs.72.85 |
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Euro |
1 |
Rs.64.70 |
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%)