MIRA INFORM REPORT
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Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
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Name : |
VIDLET |
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Registered Office : |
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Country : |
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Year of Establishment : |
1991 |
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Legal Form : |
Stock Company |
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Line of Business : |
Import and Marketing of Spices |
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 : |
Slow |
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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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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 |
Company
name
VIDLET
Telephone :
593-4-2325639
Fax : 593-4-2534363
E_Mail :
hugorolandotapia@hotmail.com
SUMMARY
Started
: 1991
Total
Employees
: 3
Payments
: Slow
Subscribed Capital :
US$ 800.-
Authorized Capital :
US$ 1.600.-
Sic(s) : 2099
Line of Business
Import
and marketing of spices
Credit Recommendation
Dollars
Conservative value : 8.000
Liberal value : 10.000
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 50 ]
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
TRADE REFERENCES
Do not trade with domestic suppliers
This company is NOT part of the ''White Listing'' of
the Internal Revenue Service
(IRS). It means that pending tax obligations should be settled up in the next months 3 months
Up to February 20, 2011, this company has delayed payments at IESS (Ecuadorian
Institute of Social Security) for a total amount of US4 3.791,00
Vidlet S.A., has no current loans in the National Financial System
Income tax corresponding to the last years:
Year 2009: USD 0
Year 2008: USD 5.908
Year 2007: USD 1.851
BANKS
Subject operates with the following banks:
- Banco De La Produccion S.A.
- Banco Pichincha
OPERATIONS
Line of Business : Import and marketing of spices
The line
of business registered at the Internal Revenue
Services(IRS) is: WHOLESALE AND RETAIL SALE OF SPICES
Social objective
registered at the Superintendency of Companies is: Import of spices. Import,
purchase, distribution and sale of all kind of equipment, spare parts, and
accessories applicable to all kind of motor vehicles
Classification according to commercial activity:
Sic: 2099-0000 Food preparations
-0400 Seasonings and spices
Sales
Services keep steady throughout the year
National sales territory
Customers
Main customers are: Line of business' distributors.
Purchases
International purchases only
Imports from
Employees
3 employees
It was confirmed that they are relatives
Location
- The administrative offices are located at
Moncayo
Branches (06/04/2011)
Subject does not have any branch
RELATED COMPANIES (04/04/2011)
Subject does not have any related company.
INSURANCES (05/04/2011)
Subject is not insured.
ADMINISTRATION
President
: Melida Orfelia Cardenas Tapia
General Manager : Vidal Leoncio Tapia Tapia TAX:0990831777001
General Manager : Juan Carlos Larrea
Assistant
CURRICULUM
Melida Orfelia Cardenas Tapia
Position : President
Mercantile Register : Number 24403
of 22/12/2010
Vidal Leoncio Tapia Tapia
T A
X
: 0990831777001
Birth place : Ecuador
Position : General Manager
Mercantile Register : Number 24363
of 22/12/2010
Previously : He was legally registered at SRI to
carry out personal
business from 01-11-1986 to
13-09-2006His registered Line
of Business was:Retail sale
of food, beverages and
tabacco, mainly, and other different
products such as:
home appliances, hardware
items, furniture, clothing,
etc., in non specialized
stores (supermarkets, small
stores)Had no trade name. At
present it is definitely
closed down
LEGAL INFORMATION (04/04/2011)
Legal Structure :
Stock Company
Constitution date :
25/11/1991
Authorization : Resolution Nº 3244
Notary
: N° 28, Guayaquil
Guayas
Term of duration :
50 Year, ended on 25/11/2041
Legal Address : Guayaquil-Ecuador
Published in : Official Gazette dated 05/12/1991
Current Subscribed Capital : US$
800.-Divided to 800.- common shares unique series amounting US$ 1.-
Authorized Current Capital : US$
1.600.-
Subscribed Initial Capital : US$
80.-
Paid-in Initial Capital :
US$ 20.-
Legal representation is held by General Manager..
Legal changes
By Resolution Nº 6204 on 19/09/2005, notary N° 30, Guayaquil Guayas, published in the Official Gazette dated 26/09/2005,
capital was increased: amounting US$ 720,00
By resolution Nº 673 dated on 07/02/2008, the Superintendency of Companies
decided to declare inactive to the company Vidlet S.A., becuase it is immerse
in the causal of Art. 359 of the Companies ' Law, which says that the
Superintendency will be able to declare inactive to the companies
under its control which have not been
operating for two consecutive years. This inactivity is presumed when the
company has not complied, in this period of time, with the requirements set out
in the Art. 20 of this Law
Art. 20.- Companies stablished in Ecuador, under the control of the
Superintendency of Companies, will send to this institution, in the first
quarter of each year the following information:
a.) Authorized copies of Annual Balance Sheet, State Income, as well as the
reports of the Administrators and Supervising Agencies.
b.) The list of Administrators, Legal Representatives and partners or
shareholders
c.) All other information set out in the regulation issued by the
Superintendency of Companies.
Rescind:
By resolution Nº 1837 dated on 19/03/2010, the Superintendency of Companies
decided:
Rescind the resolution Nº 673 dated on 07/02/2008 because the company has
issued its Balance Sheets until year 2006, therefore, it is not inside the
reasons for inactivity or closing down.
INFORMATION SOURCES
On 31/03/2011 Mr. Hugo Tapia, Secretary, declined financial information
as he is not authorized to provide it, however, submitted general
information.
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
Macroeconomic Information
Interest
Rate for the week
of 01/03/2011 - 31/03/2011
Ref.
Active Rate for Operations ( % ) 8,65
Ref.
Passive Rate for Operations (
% ) 4,59
Basic
Rate of Central Bank ( % )
Legal
( % ) 8,65
Maximum
conventional
( % ) 9,33
Inflation
Ratio
Monthly
Inflation
( % ) 0,55 Feb/2011
Accumulated
( % ) 1,24 Jan/2011
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.71.97 |
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Euro |
1 |
Rs.63.23 |
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.