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MIRA INFORM REPORT

 

 

Report Date :

20.04.2011

 

IDENTIFICATION DETAILS

 

Name :

IMPORTADORA Y EXPORTADORA LOS LIDERES LTDA.

 

 

Registered Office :

Manzana 11, Galpón 4, Recinto Amurallado, Iquique

 

 

Country :

Chile

 

 

Financials (as on) :

31.12.2008

 

 

Date of Incorporation :

14.10.2005

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Import and Commercialization of textile products, machinery and equipment, chemicals, computer equipment, furnishings and household items, specially fabrics.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$70,000

Status :

Moderate

Payment Behaviour :

Unknown

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Chile

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

IDENTIFICATION

 

CORRECT COMPANY NAME     : IMPORTADORA Y EXPORTADORA LOS LIDERES LTDA.

TAXPAYER REGISTRATION      : RUT 77.988.070-2

MAIN ADDRESS                       :  Manzana 11, Galpón 4, Recinto Amurallado, 

CITY                                         : Iquique

COUNTRY                                 : CHILE

TELEPHONE                             : (5657) 390931

FAX                                          : (5657) 417855

 

SUMMARY

 

INCORPORATION                      : 2005

FINANTIAL SITUATION               : Active

EMPLOYEES                            : 6

RATING                                    : Lightly Satisfactory

PAYMENTS                              : Without rating (No payment experience traced)

BUSINESS TREND                    : Stable, unchanged

 

 

LEGAL BACKGROUNDS

 

LEGAL ESTATUS                      : Limited Liability Company

DATE OF INCORPORATION      : 14OCT2005

START OF OPERATIONS          : 22.05.2006

REGISTERED IN                       : Iquique

INITIAL CAPITAL                        : Ps$16,000,000 Pesos

CURRENT EXCHANGE RATE    : Ps$552.75 per USD1

 

COMMENTS .-

It was not possible to get information concerning incorporation, neither the amount of the capital stock nor personal information of the members/executives but found out all of them are Indians and have lived in Chile for five years.

 

 

DIRECTORS / EXECUTIVES / SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

OWNERSHIP %

SEWANI, ANIL MAHADEV

Manager/Representative

Yes

SEWANI, MAHEK ANIL

Manager/Representative

Yes

SEWANI, POONAM

Manager/Representative

Yes

 

WHO IS WHO ?

 

SEWANI, ANIL MAHADEV

NATIONALITY                            : Indian

HOME ADDRESS                                 : Av. Héroes de la Concepción2784, Dpto.131

 

RELATED COMPANY(IES)

 

COMPANY NAME

COUNTRY

RELATION

IMPORTADORA ROSH LTDA.

CHILE

Related

 

 

BUSINESS

 

MAIN ACTIVITY .-

Import and commercialization of textile products, machinery and equipment, chemicals, computer equipment, furnishings and household items, specially fabrics.

IMPORT           : Yes

                        India, China and Pakistan

EXPORT           : No

 

% CASH SALES/METHOD        :85%

% CREDIT SALES/TERMS        :15% at 15 and 30 days

% FOREIGN PURCHASES        :It was not possible to get information concerning incorporation records, neither the amount of the capital stock nor personal information of the members/executives but found out all of them are Indians and have lived in Chile for five years.

SELLING TERRITORY              :100% - Free Trade Zone

EMPLOYEES                           :6

 

LOCATION .-

Premises                      :Rented

Use                              :Headquarters, commercial offices and warehouse

Remarks and other Premises .-

Sotomayor 625, Dpto.303, Iquique-Chile. Tel. (57)417535.

 

COMMENTS .-

Clients: Wholesale distributors

 

Reportedly, Subject is dedicated to other economic activities:

 

- Wholesale of other products non previously classified (n.c.p., Spanish abbreviated)

- Retail of items of clothes in general, including accessories

- Retail of second-hand clothes

 

 

 

FINANCIAL INFORMATION

 

At first we talked to Poonam Sewani (Manager - Representative) who supplied operating information, except for the financials by arguing he had to consult with the Accountant.

 

Some days later and in view of our insistence, we talked to José Fuentes, from the Accounting Department, who supplemented this report with the main accounts of the Balance Sheet for the Fiscal Year ended as of December 31, 2008, expressed in Pesos, as follows:

 

BALANCE SHEET

 

 BALANCE SHEET DATE

31DEC2008

 

 

 

 PERIOD

12 months

 

 

 

 EXCHANGE RATE PER US$

640.82

 

 

 

 CURRENCY

Peso

 

 

 

 ASSETS

 

 

 

 

  TOTAL CURRENT

307,495,962.00

 

 

 

  FIXED

32,325,236.00

 

 

 

  TOTAL ASSETS

339,821,198.00

 

 

 

 LIABILITIES

 

 

 

 

  TOTAL CURRENT

23,492,866.00

 

 

 

  LONG TERM

278,734,263.00

 

 

 

 SHAREHOLDERS' EQUITY

 

 

 

 

TOTAL EQUITY

339,821,198.00

 

 

 

TOTAL LIABILITIES

37,594,069.00

 

 

 

 SALES

2,441,746,887.00

 

 

 

 PROFIT(LOSS)

19,722,108.00

 

 

 

 

RATIO

 

LIQUIDITY RATIO                      13.09                Current Assets/Current Liabilities)

DEBT-TO-EQUITY RATIO           160.02              (Shareholders's equity/Current Liabilities %)

PROFITABILITY MARGIN           0.81                  (Profits/Sales %)

WORKING CAPITAL                  284,003,096.00  (Current Assets - Current Liabilities)

 

FINANCIAL SITUATION                        :  Active

Financial standing is deemed to be Slightly Fair as liquidity exceeds the average ratio. Working capital is positive which allows payments to be satisfied in good order.  Debt to equity ratio is favorable, though profits have been limited.

 

 

PROPERTY OF THE COMPANY .-

Subject owns a motor vehicle whose brand and model were not specified.

 

INSURANCE .-

Subject Company is not covered by an insurance policy.

PAYMENTS RECORD

 

 NOTE: Other Suppliers did not provide information or could not be consulted.

 

Supplier

Country

Tel.

 DHL CHILE

CHILE

 

 DANZAS CHILE S.A.

CHILE

 

 DEANY CORPORATION

PAKISTAN

 

 KAUSAR PROCESING

PAKISTAN

 

 MACOT SASHIONS

INDIA

 

 

COMMENTS .-

Despite the efforts made, it was not possible to get trade references describing Subject payment record.

 

CREDIT RISK CENTRAL .-

Subject Company does not appear in the Commercial Information Bulletin as for bad checks, protested drafts or promissory notes.

No labor or anticipatory infringements or delinquent debts were found.

 

 

BANKING INFORMATION

 

BANKERS .-

Bank

Contact

Telephone

Account #

DC (S/.)

FC (US$)

 BANCO DE CHILE

 

 

 

 

 

 BANCO DE CREDITO INVERSIONES

 

 

 

 

 

No information could be obtained from the above entities concerning Subject accounts due to bank policy.

 

 

GENERAL INFORMATION

 

REPUTATION .-

NOTHING  AGAINST COMPANY

 

 

CREDIT OPINION

 

Subject Company is eligible for a credit limit amounting to US$70,000 Dollars.

NOTE: The Opinion giwen is confidential referential and with out liability

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.68

UK Pound

1

Rs.72.56

Euro

1

Rs.63.53

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.