MIRA
INFORM REPORT
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Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
S.H.K. S.A. |
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Registered Office : |
Larrea 551, Buenos Aires City |
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Country : |
Argentina |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
07.12.2004 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Wholesale of Fabrics in General |
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 : |
Regular |
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Litigation : |
Clear |
Registered Name
S.H.K. S.A.
CUIT: 30-59983594-2
Summary
INCORPORATED IN 2004. FOLLOWER OF ACTIVITIES. CORPORATE STOCK: $
2.000.000. CONTROLLED FINANCIALS AND ACCEPTABLE RESULTS. STABLE PERSPECTIVES.
FULFILLMENT: WITHOUT OBJECTIONS. FIT FOR CREDITS OF CURRENT IMPORTANCE.
Operations
WHOLESALE OF FABRICS IN GENERAL
Legal Structure
Business type: Public Limited Company
Incorporated: 07/12/2004
Registered: 2004
Duration: 99
years
End of fiscal year: December 31st
Contact
Adrian Juarez (Administrative Manager)
Legal and Operative address: Larrea 551, Buenos Aires City, Argentina.
Phone: (54-11) 4963-8838
E-mail: tesoreria@simsiroglu.com.ar
Partners
President:
KIRKOR SIMSIROGLU
Alternate Director: ROBERTO EDUARDO GONZALEZ
Social signature use: In the charge of the President.
Corporate Stock
COMMON SHARES:
SUBSCRIBED AND PAID-IN CAPITAL: $ 2.000.000
Personal Information
KIRKOR SIMSIROGLU
Naturalized Argentinian, married, born on 28/4/1949, with address in Avda. del
Libertador 3690 piso 20, Buenos Aires City.
History
These activities were directly started by
the company SIMSIROGLU HERMANOS.
It operated until it was succeeded by the subject company on 07/12/2004.
It isn't known if nowadays the its members perform other activities.
Economic-Financial Position
Contact has been taken with Mr Adrian Juarez
(Administrative Manager), who supplied the following figures of the Balance
Sheet ended as of 31/12/2007.
CURRENT ASSETS ..................$ 7.474.211
NON-CURRENT ASSETS .........$ 583.110
TOTAL ASSETS ........................$ 8.057.321
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CURRENT LIABILITIES ...........$ 3.770.414
NET WORTH ............................$ 4.286.907
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$ 8.057.231
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NET SALES ................................$ 21.710.616
FINAL PROFIT ...........................$ 1.038.244
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The exposed figures show a favourable economic-financial situation and a
positive result of modest importance.
The company has a normal performance and stable perspectives.
Assets
The company doesn't own properties and the one located in the previously
exposed address belongs to the President.
Evolution and Results
The company is engaged in the wholesale of fabrics
in general, operating nowadays in the previously exposed address, where it has
the necessary operating structure.
Its activities are led by the main directors, who work together with 22
employees.
Up to now the company has a normal performance and stable perspectives.
Its sales are carried out in the local market, not making exports up to now.
In the last twelve months it has carried out imports for a total value u$s
4.079.493, from the following countries:
INDONESIA 1.006.412
BRAZIL 945.463
CHINA 785.374
OTHERS 1.342.244
The main imported products were threads of synthetical filaments.
Its imports represent 80% of its purchases.
MAIN SUPPLIERS:
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INDUSNOR S.A.
COTEMINAS S.A.
Payment Record and Credit
Risk
BANKS:
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BANCO DE LA PROVINCIA DE BUENOS AIRES Branch: Once
HSBC BANK ARGENTINA
Branch: Once
BANCO CREDICOOP
Branch: Once
INSURANCE:
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ROYAL SUN ALLIANCE.
CREDIT RISK:
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May/2008
BANCO CREDICOOP $ 2.644.100 SITUATON 1
HSBC BANK 1.023.800 SITUATON 1
BANCO PROV. DE B.A. 387.600 SITUATON 1
SITUATON 1: NORMAL FULFILLMENT.
Concept
Up to now the company has complied in due
time the commitments taken and has a good concept.
* FULFILLMENT: WITHOUT OBJECTIONS
Final Opinion
Bearing in mind what has been exposed
hereby, we consider feasible the credit treatment with this company by amounts
of current importance.
* FIT FOR CREDITS
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.26 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.63.53 |
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%)