MIRA INFORM REPORT
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Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ULEX |
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Registered Office : |
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Country : |
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Date of Incorporation : |
03.03.1988 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Operation of mines and quarries |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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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b1 |
b1 |
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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 |
Registered Name
ULEX
CUIT No.: 30-62346221-4
Summary
INCORPORATED IN
1988. BEGINNER OF ACTIVITIES. ITS REPRESENTATIVES CATEGORICALLY REFUSED TO
SUPPLY ACCOUNTING INFORMATION, LESS THAN IF THEY DO NOT KNOWN THE ORIGEN OF THE
REQUEST. NO NEGATIVE. FIT FOR PRUDENT CREDITS WITH ADDITIONAL GUARANTEES.
Operations
OPERATION OF MINES
and QUARRIES
Legal Structure
Business type: Public Limited Company
Incorporation date: 03/03/1988
Filing date: 09/03/1988
Registration Number: 119.295
Duration: Until
09/03/2087
End of fiscal year: 31/05
Contact
Accountant: Ana
Maria Soules
Legal and Administrative address:
Phone.: (54-11) 4574-1555/2400
E-mail: informes@ulex.com.ar
Website: www.ulex.com.ar
Plant: Avda.Juan Manuel de Rosas s/n., Estaciòn Alvarado (4400), Salta
Province, Argentina Repúblic.
Mine
Deposit: Localidad de Sijes, Dpto.Los Andes San Antonio de los Cobres,
Partners
Board of
Directors’ Meeting of 12/01/2009:
President: PALLARO LUIS
Vicepresident: PALLARO ANDRES
Director: PALLARO BRUNO
GERARDO
Director: PALLARO GUSTAVO
ANDRES
Director: PAPPINI NELIDA
Director: PALLARO NANCY MARIA
Director: PALLARO ALEJANDRA
DANIELA
Director: PALLARO ROSANA
MARISA
Director: CURA YASMIN
The first two mentioned ones, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
Personal Information
PALLARO LUIS:
ITALIAN, MARRIED, BORN IN 01/01/1957, DNI.No. 93.688.081 (CUIT No.: 20-93688082-8)
ADDRESS AT Asunciòn 2130, Cdad.de Buenos Aires.
PALLARO GUSTAVO ANDRES:
ARGENTINEAN, MARRIED, BORN IN 09/02/1958, ENTREPRENEUR, DNI.No. 11.955.561
(CUIT No.20-11955561-3) ADDRESS AT
History
THE COMPANY IS
DEDICATED TO THE OPERATION OF MINES AND QUARRIES AT THE ADDRESS PREVIOUSLY
MENTIONED.
THE COMPANY IS AN INTEGRAL PART OF THE ECONOMIC GROUP: GRUPO PALLARO AND FROM
WHICH THE FOLLOWING COMPANIES BELONG TOO:
> GELATO
> APARATOS ELECTRONICOS AUTOMATICOS
> PALLARO HNOS.
> CAMPO DEL TESORO S.A.
Economic-Financial Position
In order to obtain accountant information,
we have contacted to the accountant Ana Maria Soules, who explained that, due
to the company’s policy, such data is not provided to third parties.
Consulted indirect sources, no one could give certain information about the
holder.
Assets
REAL ESTATES:
This company would be the owner of the mine deposit located
at
Evolution and Results
This company owns several
deposits of ulexite, colemanite and hidroboracite located at Mina Sol de
Mañana, having also a qualification plant and a washing one.
Such deposit counts with mineralized layer of different thickness, alternated
with banks of clay and tobas. It is an opencast mine with mechanized methods
for charge and transport of descarpe material and minerals.
Regarding to its production, the minerals are sent mainly to
It carries out imports from
In the last twelve months it has carried out imports form
The only given reference was YPF
* 83 EMPLOYEES
Payment Record and Credit Risk
HSBC BANK
BANCO
Concept
Although, because
of the lack of a large list of suppliers to consult, we could not determine its
payment behaviour, there are no negative records in our database that could
affect its commercial concept.
* FULFILLMENT: NOT DETERMINED IN A RELIABLE WAY
Final Opinion
Bearing in mind all the information exposed in this report, we
understand that credit relation with this company should be by moderate amounts
with the request of additional guarantees.
• FIT FOR CREDIT WITH ADDITIONAL GUARANTEES.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.72.25 |
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Euro |
1 |
Rs.63.09 |
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 |
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.