MIRA INFORM REPORT
|
Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
POLIMETALES S.A.C. |
|
|
|
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Registered Office : |
Argentina 2787, Cercado, Postal code Lima,1 |
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Country : |
Peru |
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Date of Incorporation : |
18.10.1969 |
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Com. Reg. No.: |
Entry 1, Page 101, Volume 344/License 05459 |
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Legal Form : |
Closely-held Corporation |
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Line of Business : |
Subject is engaged in import and trading of
stainless steel products like sheets, pipes, bars, mesh, valves, accessories,
etc. |
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$ 490,000 |
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|
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Status : |
Moderate |
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|
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Peru |
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 |
:
|
POLIMETALES S.A.C. |
|
TRADE
NAME |
:
|
N/A" |
|
TAXPAYER
REGISTRATION |
:
|
RUC 20100456495 |
|
MAIN
ADDRESS |
:
|
Argentina 2787, Cercado |
|
POSTAL
CODE |
:
|
Lima,1 |
|
CITY |
:
|
Lima |
|
DEPARTMENT/STATE |
:
|
Lima |
|
COUNTRY |
:
|
PERU |
|
TELEPHONE |
:
|
6193600 - 4514696 |
|
FAX |
:
|
4520314 |
|
WEB
SITE |
:
|
www.polimetales.com.pe |
COMMENTS
.-
Other e-mails:
SUMMARY
FOUNDATION :
1969
LAST CAPITAL :
S/ 15´375,181.00
SALES :
0.00
EMPLOYEES :
18
PAYMENTS : Usually to terms/good
CHIEF EXECUTIVE :
CEINO MAZZINI, ACHILLE
DISPOSITION :
Report prepared through third-party sources.
LEGAL
BACKGROUNDS
|
LEGAL
ESTATUS |
:
|
Closely-held Corporation |
|
DATE
OF INCORPORATION |
:
|
18OCT1969 |
|
START
OF OPERATIONS |
:
|
19.10.1969 |
|
REGISTERED
IN |
:
|
Lima |
|
NOTARY
OFFICE |
:
|
Augusto Changanaquí |
|
DURATION |
:
|
Perpetual |
|
REGISTRATION |
:
|
Entry 1, Page 101, Volume
344/License 05459 |
|
INITIAL
CAPITAL |
:
|
S/.250,000.= Soles |
|
CURRENT
PAID-IN CAPITAL |
:
|
S/ 15´375,181.00 |
|
LAST
CAPITAL INCREASE |
:
|
10/03/2011 per Profits
Capitalization |
|
SHAREHOLDERS'
EQUITY |
:
|
N/A |
|
TYPE
OF SHARES |
:
|
Registered |
|
LISTED AT STOCK EXCHANGE |
:
|
No |
|
SHARE
VALUE |
:
|
N/A |
|
CURRENT
EXCHANGE RATE |
:
|
S/.2.73 Nuevos Soles per 1
USD |
|
MEMBERSHIP |
:
|
N/A |
COMMENTS
.-
On March 1st., 2006, Subject was included in the
system of "Good Taxpayers" (Resolution No.0210050000395 SUNAT).
There was not information about the shareholders.
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
OWNERSHIP
% |
|
CEINO MAZZINI, ACHILLE |
General Manager |
|
|
VIVANCO DE FRENCIA, MARIA
LUCRECIA |
Director |
|
|
ROJAS CARMELINO, ROBERTO |
Manager |
|
|
ROJAS ROCA, ROBERTO |
Shareholder |
93% |
|
CARMELINO HERRERA DE ROJAS,
NELLY MARTA |
Shareholder |
7% |
|
ROJAS, LILIANA |
General Accountant |
|
WHO
IS WHO?
CEINO
MAZZINI, ACHILLE
NATIONALITY : Italian
BORN : 07AUG1936
DOC OF IDENT. : C.Ext. 00039232
PROFESSION : Civil Engineer
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
POLIEXPORT S.A.C. |
|
20509435775 |
PERU |
|
POLICONSTRUYE S.A. |
|
20514455466 |
PERU |
|
INDUSTRIA ANDINA DE METALES
SAC |
|
20154913611 |
PERU |
|
MAQUINARIAS Y MATERIALES
METALICOS SAC |
|
20101543677 |
PERU |
ROJAS
ROCA, ROBERTO
NATIONALITY : Peruvian
BORN : 03/09/1942 (Huancayo)
DOC OF IDENT. : DNI 08769316
TAX ID : 10087693169
HOME ADDRESS : Av. del Sur 280, Monterrico, Surco, Lima
CIVIL STATUS : Married to Nelly Carmelino Herrera
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
INDUSTRIA ANDINA DE METALES
SAC |
|
20154913611 |
PERU |
|
MAQUINARIAS Y MATERIALES
METALICOS SAC |
|
20101543677 |
PERU |
CARMELINO
HERRERA DE ROJAS, NELLY MARTA
NATIONALITY :
Peruvian
BORN : 29/12/1946 (Huancayo)
DOC OF IDENT. : DNI 08769318
HOME ADDRESS : Av. del Sur 280, Monterrico, Lima
CIVIL STATUS : Married to Roberto Rojas Roca
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
MAQUINARIAS Y MATERIALES
METALICOS SAC |
Director |
20101543677 |
PERU |
|
INDUSTRIA ANDINA DE METALES
SAC |
Shareholder |
20154913611 |
PERU |
BUSINESS
HISTORY
Subject Company was incorporated on May 14, 1996
under the name POLIMETALES S.A.
Later, pursuant to Notarial Act dated October 1998,
before Notary Velarde Sussoni, Bylaws were amended in compliance with the
provisions of the New Business Corporations Act (No.26887), and adopted a new
legal status - Closely Held Corporation.
POLIMETALES S.A.C.
was founded exclusively with the support of Peruvian capital on October
18th, 1969 to be engaged in the provision of stainless steel, special steel,
ferrous and nonferrous metals.
The Company is qualified to serve with the greater
efficiency and honesty, guaranteeing the products, as it is proved by its 40
years of service to the metalmechanical industries, fisheries, field industry,
drink and food industries, among others as well as its service to architecture
and decoration pojects where the mentioned professionals find in steel a great
protagonist for their inspiration and creativity.
Its reason of being as company is the client
satisfaction and our motto: "it is not to gain more but to serve
better".
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
AX. REG. |
RELATION |
|
INDUSTRIA ANDINA DE METALES
SAC |
PERU |
20154913611 |
Related |
|
MAQUINARIAS Y MATERIALES
METALICOS SAC |
PERU |
20101543677 |
Related |
|
POLIMETALES INTERNACIONAL
S.A.C. |
PERU |
20432264361 |
Related |
BUSINESS
MAIN
ACTIVITY .-
Subject is engaged in import and trading of
stainless steel products like sheets, pipes, bars, mesh, valves, accessories,
etc.
Other services include cutting and manufacture of
bars, sheets, etc.
IMPORT : Yes
(From
Brazil, China, Hong Kong, India, Italy, Panama, South Africa, Spain,
Taiwán)
Annual Imports in US$ (CIF) :
Year
Monto
2011 7,030,805.00
2010 14,065,988.00
2009 14,652,772.00
2008 14,527,239.00
2007 13,106,490.00
2006 6,048,218.00
2005 5,524,748.00
2004 2,754,735.00
2003 499,347.00
EXPORT : Yes
(To
Panama)
Annual Exports in US$ (FOB) :
Year
Monto
2011 367,600.00
2010 414,793.00
2009 1,060,794.00
2008 95,953.00
2007 76,841.00
|
%
CASH SALES/METHOD |
:
|
35% |
|
%
CREDIT SALES/TERMS |
:
|
65% (drafts at 30 and 60
days) |
|
%
FOREIGN SALES (COUNTRIES) |
:
|
N/A |
|
%
DOMESTIC PURCHASES |
:
|
30% |
|
%
FOREIGN PURCHASES |
:
|
70% |
|
SELLING
TERRITORY |
:
|
Domestic and foreign markets |
|
EMPLOYEES |
:
|
18 |
LOCATION
.-
|
Premises |
:
|
Own |
|
Monthly
Amount |
:
|
N/A |
|
Time
Occupied |
:
|
N/A |
|
Area |
:
|
2,400 m2 |
|
Floors |
:
|
2 |
Remarks and other Premises .-
Premises are shared with its related firms
INDUSTRIA ANDINA DE METALES S.A. and MAQUINARIAS Y MATERIALES METALICOS
S.A."
Branch:
- Av. Separadora Industrial Mza. F1 Lote 10 Z.I.
Villa El Salvador, Lima
Warehouses:
- Av. Venezuela 2038 Zona Industrial, Chacra Rios,
Lima. Tel. (511) 3368504
- Calle José Celendon Condestable No 973, Lima
- Calle B No 263 Z.I. Bocanegra, Callao
COMMENTS .-
Sales are targeted at Lima (60%)
and Arequipa, Cuzco, Iquitos, Pucallpa and Trujillo (40%).
Main Clients:
- INTERIN S.A.
- SOUTH NAVAL S.A.
- ENCO S.A.
- MATCIN S.R.L.
- GLORIA S.A.
- ABAD INGENIEROS
- FIMA S.A.
- AUSTRAL GROUP S.A., among others
Ranking PEP:
The Company has been ranked the 1282nd position among the 10,000-top
Companies and Entities in Peru.
FINANCIAL
INFORMATION
|
Interviewee(s) |
:
|
N/A |
|
Position(s) |
:
|
N/A |
|
Cooperation |
:
|
Report prepared through
third-party sources. |
|
Information
Provided |
:
|
Directly information was denied due to
confidentiality policies. (The y have strong competition) We turned to reliable third sources and public registries where
complementary infomation is included. Information related to Subject's Blance
Sheets are not published, as reference calculation of sales is mentioned for
the fiscal year 2009, 2008 and net sales reported on 2007. 2009: Sales S/ 89,463,020.= 2008: Sales S/
72,000,000.= 2007: Sales S/ 83,547,000.= |
FINANCIAL
SITUATION : UNDETERMINED
Subject's Financial Situation is considered as Undetermined due to it
doesn't have updated elements to assess its results.
However, references are good. Subject is a solid
company with excellent perspectives.
INSURANCE
.-
Insurance policy hire through Montenegro and Mont
S.R.L.
|
Company |
Againts |
Amount |
Expiration |
|
RIMAC INTERNACIONAL CIA DE
SEGUROS |
Various risks |
N/A |
N/A |
PAYMENTS
RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms(days) |
Perfomance? |
Time |
Products/Services |
|
AGENCIA DE ADUANAS J Y N ASOCIADOS |
PERU |
(511) 5151099 |
Open |
US$ 8,000.= |
30 days |
Prompt |
2008 |
Customs services |
|
MULTIMET S.A. |
PERU |
(511) 4600023 |
Open |
US$ 20,000.= |
Check/30 days |
Prompt |
1990 |
Steel |
NOTE: Other Suppliers did not provide
information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
TECNIADUANA S.A.C. |
PERU |
(511) 6136100 |
|
TEMISA |
MEXICO |
N/A |
|
VIRAJ |
INDIA |
N/A |
|
ROLDAN |
SPAIN |
N/A |
|
PRIMAMETALIS |
VENEZUELA |
N/A |
|
MAISON F. MATIEU NV |
BELGIUM |
N/A |
|
OTOKUMPU |
SWEDEN |
N/A |
|
CEMET |
SOUTH AFRICA |
N/A |
|
ACERINOX |
SPAIN |
N/A |
|
COMERCIAL DEL ACERO S.A. |
PERU |
(511) 6193000 |
CREDIT RISK CENTRAL .-
There was no information relative to cancelled
accounts or credit cards.
No bad checks or protested drafts or promissory
notes were reported.
No delinquency, bad-debt portfolio, cancelled
credits due to mismanagement or similar situations were reported either.
Taxes: No
compulsory collections or payment failure were informed by Risk Information
Centers.
Consolidated social security debt owed to AFPs
(Pension Fund Private Administrators): None
CREDIT HISTORY .-
The SBS reported several current accounts, credit
facilities, leasing and other operations.
Active products and settled ones are highly rated which shows a good
payment performance by the Company and good business reputation in these
entities.
Other suppliers did not provide information.
BANKING
INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
Banco de Crédito del Perú
S.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BBVA Banco Continenetal
S.A.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
HSBC Bank Perú |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Scotiabank del Perú S.A.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
Banco Interbank |
N/A |
N/A |
N/A |
N/A |
N/A |
Subject Company deals with the aforesaid banks
where it holds current accounts. Other facilities have been granted. Good bank experience and correct financial
performance.
Debt structure for Bank
(Domestic Currency)
|
Bank |
% Debt Rating |
Current Debt DC |
Current Debt FC |
|
Banco de Crédito del Perú
S.A. |
|
15909884 |
0 |
|
Banco Financiero |
|
1630826 |
0 |
|
BBVA Banco Continental
S.A.A. |
|
6364841 |
0 |
|
BIF |
|
1803336 |
0 |
|
Scotiabank del Perú S.A.A. |
|
1127354 |
0 |
|
Banco Interbank |
|
1481472 |
0 |
|
Banco Interamericano de
Finanzas |
|
1812758 |
0 |
|
Banco de Comercio |
|
899425 |
0 |
RATING
DESCRIPTION ACCORDING TO THE SBS
Normal .- Good Financial Situation,
Prompt payments, consistent Information, Increasing Trend, Creditworthy.
Potential Problem .- Satisfactory Financial Situation
but cash flow can be weak. Irregular payments. Irregular Trend.
Deficient .-Financial Situation, cash problems, profits shortage, delayed and overdue
payments.
Doubtful .- Heavy Financial Situation,
liquidity shortage, notorious delayed payments, Judicial Collection, Bad
Management.
Loss .- Bad Financial Situation,
Insufficient funds, declared
bankruptcy,debt default.
GENERAL
INFORMATION
REPUTATION
.-
NOTHING
AGAINST COMPANY
CREDIT
OPINION
Requested Credit
: Maximun
Suggested
Credit : US$
490,000.=
NOTE: The Opinion given is confidential referential
and with out liability
Press Releases
BCR: Economic Growth Near 8% in April
Growth of the Peruvian economy in April is close to
eight percent, according to estimated indicators, those of March were 8.76
percent, Julio Velarde, President of the Central Reserve Bank (BCR) said.
Manufacture industry operates at full capacity -
Peru
The consumption and investment euphoria reactivates
in the country, and this is also reflected in the increased use of the
installed capacity of manufacture.
The Banco Central de Reserva del Peru (BCR)
reported that in March the rate of use of the installed capacity of non-primary
manufacture climbed to 79%, nine points more than in previous February, and it
is the highest rate in the past 17 months (since October 2008 when it scored
81.2%).
It should be noted that the rate of use of
installed capacity is defined as the ratio between current output and maximum
monthly production of the last eight years.
In opinion of César Peñaranda, Director of the
Institute of Economics of the Chamber of Commerce of Lima, (CCL),
the increased use of installed capacity of the industry in March was
consistent with the increase in factory production.
In fact, manufacture caused a sensation in March as
it rose 15.1%, the highest rate over the last 23 months (since April
2008). Non-primary manufacture (with
higher value added) was the one which recovered that month, then grew by
18.11%, supported by the explosive advance of the production of consumer goods,
intermediate goods and capital goods.
Recovery: César Peñaranda referred that the
increased use of installed capacity is in line with the more dynamic domestic
demand, in particular, consumption and private investment but also for the
recovery of exports.
Opinions
"The industry in general will increase the use
of installed capacity, because it has increased the construction industry
(cement, glass, etc.), But the clothes industry has not improved, it still uses
about 75% of its capacity"
José Luis Peroni
Clothes Manufacture Committee - SNI
"Since March we noticed an increased demand
for construction sector and agribusiness and therefore, there is more
production and use of installed capacity in the area of metalworking. We are
currently using 80% of our capacity."
·
Angel
Neyra
·
President
of ATEM Perú
Trade accounts for 40.9% of the country's top
companies May 2010
The 40.9% of the 10,000 most successful companies
in Peru belong to the trade sector, followed by manufacture with 15.2%, while
the remaining 43.77% is made up of 14 sectors (agriculture, mining, services,
etc. ), as shown in the book "PERU The 10,000-Top Companies.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.69 |
|
UK Pound |
1 |
Rs.75.29 |
|
Euro |
1 |
Rs.65.77 |
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 |
|
---- |
NB |
New Business |
---- |
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.