MIRA
INFORM REPORT
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Report Date : |
25.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
CORPORACION ELICE 2222 C.A. |
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Registered Office : |
Av. Juan Bautista Arismendi, Edif. Citroén, Sector Nueva Cádiz, Porlamar / Isla De Margarita / Edo. Nueva Esparta |
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Country : |
Venezuela |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
11.07.2003 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Importation, Distribution of Motor Vehicles of the
Trademark CITROEN |
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 : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : CORPORACION ELICE 2222 C.A.
TAXPAYER
REGISTRATION : RIF J-30177898-7
OPERATING STATUS : Active
MAIN ADDRESS : Av. Juan Bautista Arismendi, Edif. Citroén, Sector Nueva Cádiz,
CITY/PROVINCE/STATE : PORLAMAR / ISLA DE MARGARITA / EDO. NUEVA ESPARTA
COUNTRY : VENEZUELA
TELEPHONE : (58295)274.5308/274.0241
FAX : (58295)274..4060
E - MAIL : info@citroen.com.ve
WEB SITE : www.citroen.com.ve
SUMMARY
Incorporation : 2003 Operating
Status : Active
Last Capital : *
Shareholders' Equity : 1,085,177,923.=
Annual Sales : 21,692,227,226.00 Bolivars
Employees : *
Rating : Satisfactory
Payments : No further credit experience available
QUALIFICATION
RATING : Satisfactory
PAYMENTS : No further credit experience available
LEGAL BACKGROUNDS
LEGAL STATUS : Joint-Stock Company
DATE OF
INCORPORATION : 11JUL2003
REGISTERED IN :
Nueva
Esparta State. Mercantile Register II
REGISTRATION :
No.
68, Volume 17-A
INITIAL
CAPITAL : Bs. 1,000,000.00
Bolivars
CURRENT PAID-IN
CAPITAL : Bs.F. 700,000.00
Bolivar Fuerte
LAST CAPITAL
INCREASE : Meeting of date 19.07.2006
SHAREHOLDERS'
EQUITY : Bs. 1,085,177,923.00 Bolivars (31-12-2006)
TYPE OF SHARES :
Nominatives
LISTED AT STOCK
EXCHANGE: No
SHARE VALUE :
Bs.F.
1.00
CURRENT EXCHANGE
RATE : Bs.F. 2.15 per 1.00 U.S. Dollar
COMMENTS
The Capital Stock has been increased as follows:
To: Bs. 9,150,000.00 , in
03/2001
To: Bs. 100,000.000.00 , in
03/2002
To. Bs.F. 700,000.00, current capital.
The Board of directors was appointed on 19.07.2006.
Bs.F 1.00 = Bs. 1,000.00
HISTORY
FOUNDERS: Inversiones Visión
2000 C.A. and José Roberto Aldariz Martínez.
In december 2000, the firm Inversiones Visión 2000 C.A. sold all its shares to José Manuel Rodríguez.
In March 2002, they agreed to open a branch in the city of Porlamar, state of Nueva Esparta.
In July 2004, José Manuel Rodríguez sold all his shares to Emilio Aldariz Martínez.
In July 2006, José Roberto Aldariz sold all his shares to José Venancio Bisogno.
DIRECTORS / EXECUTIVES /
SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
BISOGNO, JOSE VENANCIO General Director 57.50%
ALDARIZ MARTINEZ, EMILIO Director 42.50%
WHO IS WHO ?
BISOGNO, JOSE VENANCIO
NATIONALITY : Venezuelan
DOC. OF IDENT. : CI 1267547
E - MAIL : jbisogno@citroen.com.ve
ALDARIZ MARTINEZ, EMILIO
NATIONALITY : Venezuelan
DOC. OF IDENT. : CI 11635461
BUSINESS
MAIN ACTIVITY .-
Importation, distribution of motor vehicles of the trademark CITROEN.
EMPLOYEES : Not specified
FACILITIES .-
Use : Administration / Headquarters at caption address.
FINANCIAL INFORMATION
During the course of this investigation we spoke to Mr. José Manuel Golding, who after receiving our written information request , stated he was in position to cooperate provided we revealed to him the name of the company asking for the report.
Through third parties we obtained the General Balance Sheet of the company as of December 31st., 2006, end of fiscal year, signed by Lic. Ericka González S., CPC 12898.
This company is registered with CADIVI to obtain dollars at preferential dollar exchange rate; in the period comprised between year 2004 and 31.12.2007, the subject was approved 139 import requests for a total amount of US$16,577,284.68 dollars.
BALANCE SHEET DATE : 31DEC2006
TYPE OF BALANCE
SHEET :
Annual
BALANCE SHEET
OF :
12 months
CURRENCY : Bolivars
EXCHANGE RATE PER
US$ :
2,150.00
ASSETS
TOTAL
CURRENT :
7,628,708,486.00
FIXED : 2,139,617,103.00
OTHERS : 6,417,063.00
TOTAL ASSETS : 9,774,742,652.00
LIABILITIES
TOTAL CURRENT : 8,689,564,729.00
TOTAL EQUITY : 1,085,177,923.00
TOTAL LIABILITIES : 9,774,742,652.00
SALES :
21,692,227,226.00
PROFIT (LOSS) : 610,861,537.00
LIQUIDITY RATIO : 0.88 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY RATIO : 12.49% (Shareholders'equity/Current
Liabilities)
PROFITABILITY MARGIN : 2.82% (Profits/Sales)
WORKING CAPITAL : -1,060,856,243.00 (Current Assets - Current
Liabilities)
PROPERTIES OF THE COMPANY .-
Installations, office equipment, computer equipment, workshop tools,
vehicles, improvement on premises, office equipment and furniture.
INSURANCE .-
Unknown.
PAYMENTS RECORD
TRADE REFERENCES .-
COMMENTS .-
Not located.
BANKING INFORMATION
BANKERS
Not located.
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%)