MIRA
INFORM REPORT
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Report Date : |
02.04.2011 |
IDENTIFICATION DETAILS
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Name : |
QUIMICA INDUSTRIAL SPES |
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Registered Office : |
Panamericana Norte 5299 - Conchalí Santiago XIII Region Metropolitana |
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Country : |
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Date of Incorporation : |
1947 |
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Legal Form : |
Private Stock Company |
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Line of Business : |
Manufacture of chemical products, nutritional additives and supplements |
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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Maximum Credit Limit : |
USD 183 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
IDENTIFICATION
QUIMICA INDUSTRIAL SPES
( QUINDUSPES
Panamericana Norte 5299 - Conchalí
Santiago
XIII Region Metropolitana
CHILE
Telephone :
56-2-4289500
Fax : 56-2-4289525
E_Mail :
spes@spes.cl, gorellana@spes.cl
Web Site :
www.spes.cl
SUMMARY
Started
: 1947
Total
Employees
: 92
Payments : See Commercial Record
Capital
:
000's$ 406.547.-
Sic(s) : 2833 - 2851 - 2899 - 5159
Line of Business: Chemical products, nutritional additives and supplements.
EVALUATION
Risk level = 3
Interpretation at the end of the report.
Credit Recommendation
000's Pesos 000's US$
dollars 000's Euros
Conservative value :
87.750
183
129
Liberal value
:
96.525
201
142
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 90 ]
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL INFORMATION
Commercial Bulletin : As at 30/03/2011 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information
bulletin
Labor Bulletin : As at 30/03/2011 does not register labor
infringements
Previsional Bulletin :
As at 30/03/2011 does not register pension fund's
infringements
Consolidated delinquency : As at 30/03/2011, subject registers the following
delinquent bill
Detail of Delinquent Debts
Date : 21/02/2011
Note : Invoice
Value : Ch$ 67.984,00
Drawer : Soc. Concesionaria Vespucio Norte
City : Santiago
TRADE REFERENCES (23/03/2011)
Trade references are supplied as follows:
Detail of References
Old : Since 2002
Last purchase : 12-2010
Terms : 60 days
Payment
: Prompt
Notes invoice
Credit : (000'sUS$) 1.500
Owes : Does not Register
Due : Does not Register
Paying Comments: Good
Supplier deferred information.
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2000 03-10 Prompt
current
account Open
None
Since 2002 03-10 Prompt
invoice
1.500 None
Since 2002 04-09 Prompt
invoice
Open None
Since 2000 05-09 Prompt
current
account Open
None
Since 2000 09-08 Cash current
account Open
None
5 years 09-06 Prompt
not
specified
-
-
5 years 09-06 Prompt
checks
Open
-
5 years 01-06 Prompt
checks
Open
-
5 years 02-06 Prompt
not
specified
- -
5 years 07-05 Prompt
not specified
- -
5 years 07-05 Prompt
checks Open
-
5 years 12-04 Prompt
checks Open
-
5 years 06-04 Prompt
checks Open
-
Does not register protests of documents neither labor nor pension funds'
infringements.
Registers 1 unpaid note included in the report.
According to the taxpayer ID indicator, it has registered 49 search entries
over the last six months - requests are made by insurance companies,
telecommunication companies, banks, industries and other businesses in general.
AVERAGE PAYMENTS IN
International Risk and Payment Review reported in November 2010
The local delays in payment average 0-1 month.
BANKS (22/03/2011)
Subject operates with the following banks:
- Banco de Chile ACCT # 61154-09, main office Ahumada 251, Santiago
- Banco de Credito e Inversiones, branch Av. Presidente Eduardo Frei
Montalva
1792, Renca
- Banco Santander Chile, main office Bandera 140, Santiago
- Banco Security, main office Av. Apoquindo 3150, Las Condes
- Corpbanca
- Scotiabank Chile
OPERATIONS (22/03/2011)
Line of Business : Manufacture of chemical products, nutritional additives and
supplements, refined aluminium sulphate, resins for
thermoplastic paints, polymers, co-polymers, PVC products,
agricultural products. Pet food., family, animal products,
vaccines, olive oils with Omega 3, among others.
Classification according to commercial activity:
Sic: 2833-0000 Medicinals and botanicals
-0404 Fish liver oils: refined
or concentrated for medicinal use
-0400 Animal based products
Sic: 2851-0000 Paints and allied products
-0108 Plastics base paints and
varnishes
Sic: 2899-0000 Chemical preparations
-0206 Stearic acid
-9935 Oxidizers, inorganic
-9943 Salt
-0500 Sizes
Sic: 5159-0000 Farm-products raw materials, not elsewhere classified
Commercializes:
- Omega Pets, line of pet food
- Merial, poultry vaccines
Subject is considered as a large company in this line of business, normal
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are distributed
National: 60%.
Sales conditions: Cash and term payments to 30, 60 & 90 days.
International: 40%.
Exports to Argentina, Australia, Bolivia, Brazil, Canada, China, South Korea,
Costa Rica, Ecuador, United Arab Emirates, Indonesia, England, Israel, Mexico,
New Zealand, Peru, Czech Republic and Vietnam.
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
China
49,98 0,00
Vietnam
13,11 0,00
Australia
11,83 0,00
Indonesia
6,65 0,00
Brazil
3,42 56,92
New
Zealand
3,38 0,00
Canada
2,88 0,00
Israel
2,52 0,00
Mexico
2,26 0,00
Peru
1,38 0,00
Argentina
1,04 43,07
South
Korea
0,61 0,00
Czech
Republic
0,23 0,00
England
0,22 0,00
Costa
Rica
0,17 0,00
Ecuador
0,17 0,00
Bolivia
0,09 0,00
United Arab
Emirates
0,04 0,00
Historical registries
Total 2010 = 000's$ 2.272.282 Accumulated 2011 = 000's$ 28.167
Total 2009 = 000's$ 936.085
Total 2008 = 000's$ 998.538
Total 2007 = 000's$ 1.068.903
Total 2004 = 000's$ 967.804
Total 2003 = 000's$ 594.933
Customers
Main customers are: Line of business' distributors, companies in general,
etc..
Purchases
Places orders with multiple suppliers
National: 60%
Purchase conditions: Cash and term payments to 30 & 60 days.
International: 40%
Purchase conditions: Letter of credit and term payments to 120 days. letter of
credit and direct collection.
Imports from Argentina, Brazil, Canada, China, Ecuador, United Arab Emirates,
France, India, Japan, Malaysia, Mexico, Peru, United States, Uruguay and
Vietnam.
Records of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
China
47,34 0,00
Malaysia
15,50 100,00
Peru
13,27 0,00
United States
12,67 0,00
Argentina
4,03 0,00
France
3,91 0,00
India
1,39 0,00
Brazil
1,21 0,00
Japan
0,65 0,00
United Arab
Emirates
0,01 0,00
Vietnam
0,01 0,00
Uruguay
0,00 0,00
Canada
0,00 0,00
Ecuador
0,00 0,00
Mexico
0,00 0,00
Historical registries
Total 2010 = 000's$ 1.005.118 Accumulated 2011 = 000's$ 58.970
Total 2009 = 000's$ 1.378.796
Total 2008 = 000's$ 3.553.636
Total 2007 = 000's$ 1.847.574
Total 2004 = 000's$ 1.431.152
Total 2003 = 000's$ 1.173.250
Main suppliers (23/03/2011)
- Aga S.A.
- Brenntag Chile Comercial e Industrial Ltda.
- Compañia de Petroleos de Chile Copec S.A.
- Envases Carrillo S.A.
- Mathiesen S.A.C.
- Oxiquim S.A.
Employees: 92 employees
Location
- Industrial plant & administration offices at Panamericana Norte
5299 Conchalí
Santiago, Chile, industrial area, road of busy traffic,
construction in good
conditions
Branches (22/03/2011)
Subject does not have any branch
RELATED COMPANIES (22/03/2011)
Subject does not have any related company.
FIXED ASSETS
Real estates (22/03/2011)
Subject registers the following real estate
- Panamericana Norte 5299 Conchalí Santiago-Chile, Fiscal value of 000's$
441.401.-, rol Nº 6145-8
Vehicles (22/03/2011)
Owns vehicles for the company's use
Vehicles of various models & brands Hino y Toyota(years 1995-1996).
Machinery & Instalations (22/03/2011)
Own equipment
- Coverings, mixers, cranes, boiler, laboratory, sealers, etc.
INSURANCES (22/03/2011)
Insurance Company:
-RSA Seguros Chile S.A.
BOARD OF DIRECTORS
Director
: Eugenio Gormaz Díaz TAX:5894678-8
ADMINISTRATION
Director & General : Eugenio Gormaz
Díaz TAX:5894678-8
Manager
Adm. & Finances Manager : Guillermo Eladio Orellana Pizarro
TAX:6534797-0
Treasurer
: Ema Palominos
LEGAL INFORMATION (22/03/2011)
Legal Structure : Private Stock Company
Constitution date : 28/02/1947. Subscribed before Notary
Rafael Zaldívar D,
from Santiago, under the business name QUIMICA
INDUSTRIAL SPES LTDA.
Term of duration : Indefinite
Legal Address : Santiago - Chile
Current Social Capital: 000's$ 406.547.-Divided to 32.000.- registered shares
unique series
Shareholder :
- 99,00% Gormaz y Cía. Ltda., Guillermo
- 1,00% Other Shareholders
Administration is held by Director & General Manager.
Legal changes
Public Deed dated 11/12/1975, notary Andrés Rubio Flores,
the Official Gazette dated 08/01/1976 page N° 13, corporate structure was
modified: from Limited liability partnership into a Private Stock company
QUIMICA INDUSTRIAL S.A. authorized by Executive Decree of Ministry of Treasury
N°72-C dated March 8, 1976. Statutes have been authorized & approved and at
the
time extract and aforementioned Decree was registered them in Trade Registry on
leaf 2189 N°1225 of March 25, 1976. Published in official Gazette of Mar 27,
1976. On Mar 8, 1976, the Superintendency of Securities & Insurances
authorized
the company under N° 072.
Public Deed dated 04/01/1989, notary Andrés Rubio Flores, Santiago, published
in
the Official Gazette dated 13/01/1989 page N° 10, statutes were modified: it
was
established a new text of social statutes and indicated that business name is
QUIMICA INDUSTRIAL SPES S.A. with the trade style QUINDUSPES S.A. Capital
amounts to $406.547.000 divided into 32.000 no par value shares.
Public Deed dated 20/07/2010, notary Armando Ulloa Contreras,
published in the Official Gazette dated 30/07/2010 page N° 8, corporate purpose
was modified: extended to present one.
INFORMATION SOURCES
Miss. Ema Palominos, Treasurer, declined financial figures,
however, submitted the data shown in this report.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.65 |
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1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.