MIRA INFORM REPORT

 

 

Report Date :

30.08.2011

 

IDENTIFICATION DETAILS

 

Name :

WAL MART BRASIL LTDA

 

 

Registered Office :

Avenida Tucunaré, 125 - Alphaville 06460-020 - Barueri/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

02.05.1994

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and retail sale of goods in general.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

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)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name 

 

WAL MART BRASIL LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

AVENIDA TUCUNARÉ, 125 - ALPHAVILLE

ZIP CODE/CITY:

06460-020 - BARUERI/SP

 

 

PHONE:

11 2103-5800

FAX:

11 2103-5908

E-MAIL:

walmartevoce@wal-mart.com

WEB SITE:

www.walmartbrasil.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA NOVA SÃO PAULO,331 - ITAQUI

ZIP CODE/CITY:

29045-403 ITAPEVI/SP

 

 

ADDRESS:

AVENIDA JOAQUINA RAMALHO,340

ZIP CODE/CITY:

02065-000 SÃO PAULO/SP

 

 

ADDRESS:

AVENIDA WASSHINGTON LUIS,130

ZIP CODE/CITY:

04662-000 SÃO PAULO/SP

 

 

ADDRESS:

AVENIDA DOS AUTONOMISTAS,1768 / 1828

ZIP CODE/CITY:

06020-010 OSASCO/SP

 

 

ADDRESS:

AVENIDA ANTONIO CARLOS MAGALHÃES,3410 - PITUBA

ZIP CODE/CITY:

41800-700 SALVADOR/BA

 

 

ADDRESS:

AVENIDA JABAQUARA,2979 - PISO SUPERIOR - MIRANDÓPOLIS

ZIP CODE/CITY:

04045-004 SÃO PAULO/SP

 

 

ADDRESS:

AVENIDA WASGINGTON LUIS,1415 - 1º SUBSOLO - SANTO AMARO

ZIP CODE/CITY:

04626-002 SÃO PAULO/SP

 

 

ADDRESS:

RODOVIA REGIS BITTENCOURT - S/Nº. - KM 293,5 - POTUVERA

ZIP CODE/CITY:

06882-700 ITAPECERICA DA SERRA/SP

 

 

ADDRESS:

ESTRADA DOS ALPES, 320 (ESTRADA DA PEDREIRA, 280 B – JANDIRA/SP)

ZIP CODE/CITY:

06423-080 BARUERI/SP

PHONE:

11 2108-3712

FAX:

11 2108-3714

CNPJ:

00.063.960/0009-58

STATE REGISTER:

398.083.880.110

 

 

ADDRESS:

AVENIDA OSVALDO VALLE CORDEIRO,700 - JARDIM BRASILIA

ZIP CODE/CITY:

03584-000 SÃO PAULO/SP

 

 

ADDRESS:

AVENIDA SALIM FARAH MALUF,17 - LOJA 101 - JARDIM DAS ROSAS

ZIP CODE/CITY:

19026-240 PRESIDENTE PRUDENTE/SP

 

 

ADDRESS:

ESTRADA ITAPECERICA,8250 - LOJA 101 - PARQUE FERNANDA

ZIP CODE/CITY:

05858-002 SÃO PAULO/SP

 

 

ADDRESS:

RUA TIBURCIO DE SOUSA,1284 - LOJA 101 - ITAIM PAULISTA

ZIP CODE/CITY:

08110-000 SÃO PAULO/SP

 

 

ADDRESS:

ESTRADA DO PEQUIA,2100 - VILA SILVANA

ZIP CODE/CITY:

06381-095 CARAPICUIBA/SP

 

 

ADDRESS:

RUA COPAIBA,0 - LOTE 11B - LOJA 2B - NORTE - ÁGUAS CLARAS

ZIP CODE/CITY:

71919-540 TAGUATINGA/DF

 

 

ADDRESS:

RUA COPAIBA,0 - LOTE 01 - LOJA 1B - NORTE - ÁGUAS CLARAS

ZIP CODE/CITY:

71919-540 TAGUATINGA/DF

 

THE COMPANY ALSO HAS OTHER BRANCHES LOCATED IN: GOIANIA/GO, CAMPO GRANDE/MS, VIAMAO/RS, URUGUAIANA/RS, SÃO LEOPOLDO/RS, SANTO ANGELO/RS, SANTA ROSA/RS, PORTO ALEGRE/RS, PELOTAS/RS, GRAVATAI/RS, CAXIAS DO SUL/RS, BENTO GONÇALVES/RS, BRASILIA/DF, CURITIBA/PR, COLOMBO/PR, IMBE/RS, TABOÃO DA SERRA/SP, SOROCABA/SP, SÃO VICENTE/SP AND SÃO PAULO/SP.

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

06/05/1994

REGISTER DATE:

02/05/1994

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

00.063.960/0001-09

STATE REGISTER:

206.228.672.119

 

 

SHARE CAPITAL:

R$ 4.344.755.169,00

LAST REGISTER OF CAPITAL:

02/03/2011

 

BOARD OF DIRECTORS:

 

 

 

HECTOR NUNEZ

PRESIDENT DIRECTOR

MIGUEL LONGO JUNIOR

DIRECTOR

MARCOS BARUKI SAMAHA

PRESIDENT DIRECTOR

ROMILDO DE ANDRADE BARROS

DIRECTOR

JOSE CARLOS RAFAEL DE ASSIS VASQUEZ

DIRECTOR

MARCOS IGNACIO AMBROSANO

DIRECTOR

DANIEL GROSS GARCIA

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

WALMART B.C. HOLDING ULC

R$ 2.861.214.268,00

0876823 B.C. LTD

R$ 1.483.540.901,00

 

 

AFFILIATES / SUBSIDIARIES:

 

 

 

BOMPREÇO SUPERMERCADOS DO NORDESTE LTDA

 

BOM PREÇO BAHIA SUPERMERCADOS LTDA

 

WMS SUPERMERCADOS DO BRASIL LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED IN 1994 TO BE ENGAGED IN THE SAID LINE OF BUSINESS. FORMERLY IT OPERATED AS POMADORO COMÉRCIO LTDA AND LATELY AS WAL MART BRASIL COMÉRCIO LTDA. ON SEPTEMBER 15, 1994 IT CHANGED THE REGISTERED NAME TO WAL-MART BRASIL S/A. AND ON FEBRUARY 3, 1999 AFTER CHANGING ITS LEGAL FOR TO LIMITED LIABILITY COMPANY THE CURRENT REGISTERED NAME WAS ADOPTED.

 

EARLY 2004 THE WAL-MART GROUP ANNOUNCED THE ACQUISITION OF THE BOM PREÇO SUPERMARKET AND HYPERMARKET CHAIN. THE VALUE OF THE TRANSACTION REACHED APPROXIMATELY US$ 500 MILLION BUT THE HIGHER PART US$ 300 MILLION IS REGARDED THE ASSETS OF BOM PREÇO AND THE REMAINING REFERS TO THE OPERATION OF TRANSFERENCE OF THE CREDIT CARD OPERATIONS "HIPERCARD" HELD BY BOM PREÇO TO UNIBANCO.

 

WITH THE PURCHASE OF BOM PREÇO, THE WAL-MART CHAIN BEGINS OPERATING 143 UNITIES IN BRAZIL, INCLUDING 13 HYPERMARKETS (SUPERCENTER), 10 PURCHASE CLUBS (SAM'S CLUB), TWO STORES WITH THE FLAG "TODO DIA" AND NOW THE 18 UNITIES OF BOM PREÇO.

 

BOM PREÇO IS THE LARGEST SUPERMARKET CHAIN IN THE NORTHEASTERN REGION OF BRAZIL, WITH 118 STORES THROUGHOUT THE NINE STATES IN THE REGION.

 

THE SUBJECT IS A SUBSIDIARY OF WAL-MART GROUP ESTABLISHED IN 1962 IN THE UNITED STATES. IN JANUARY 31, 2004 THE GROUP HAD TOTAL SALES OF USD 256 BILLION IN OVER 3200 STORES LOCATED THE UNITED STATES AND 110 IN BRAZIL, ARGENTINA, MEXICO, PUERTO RICO, CANADA, CHILE, GERMANY, UNITED KINGDOM AND SOUTH KOREA. THE GROUP HAS APPROXIMATELY 1,3 MILLION EMPLOYEES.

 

ACCORDING TO LOCAL FINANCIAL NEWSPAPER, LATE 2005 SUBJECT ACQUIRED THE SUPERMARKET CHAIN SONAE DISTRIBUIDORA S/A BY AN AMOUNT OF EUR 635 MILLIONS. SONAE WAS ONE THE LARGEST SUPERMARKET CHAINS OPERATING IN THE SOUTHERN REGIION OF BRAZIL. ON FEBRUARY 02, 2006 SONAE DISTRIBUIDORA ALTERED ITS CORPORATE NAME TO WMS SUPERMERCADOS BRASIL S/A.

 

REMARKS:

 

ACCORDING TO A SOURCE AT THE COMPANY THE ADDRESS “ESTRADA DA PÉDREIRA, 280 – JANDIRA/SP” STILL EXISTS, HOWEVER, THE COMPANY NOW USES THE ADDRESS “ESTRADA DOS ALPES 320 – BARUERI/SP AS ITS ADDRESS. THE COMPANY REMAINS IN THE SAME PLACE BUT ONLY CHANGED THE REFERENCE ADDRESS.

 

FURTHER DETAILS ARE NOT KNOWN AS THE SOURCES AT THE COMPANY AS USUAL DECLINED TO PROVIDE ALL KIND OF INFORMATION EVEN KNOWING THE INQUIRY'S PART NAME. DUE TO THE SUBJECT REFUSAL IN PROVIDING INFORMATION ALL DATA INCLUDED ON THIS REPORT WAS OBTAINED FROM OUTSIDE SOURCES.

 

PUBLIC INFORMATION:

 

PROTESTS:

 

734 PROTESTS,TOTAL AMOUNT R$ 3.909.770,20

    DATE OF FIRST PROTEST: 09/2006  R$ 165,00

    DATE OF HIGHEST PROTEST: 05/2011  R$ 364.084,25

 

DETAILS OF LATEST PROTESTS:

 

NOTARY OFFICE:

DATE:

VALUE:

2º CARTÓRIO DO RIO DE JANEIRO/RJ

23/08/2011

R$ 6.072,84

CARTORIO DE SOROCABA/SP

22/08/2011

R$ 640,25

1º CARTORIO DE GOIÂNIA/GO

22/08/2011

R$ 374,00

22º CARTORIO DE BAURU/SP

17/08/2011

R$ 698,50

CARTORIO DE CONTAGEM/MG

16/08/2011

R$ 143,00

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

10

STATE LAWSUITS

05/04/11

1ª VARA DE BAURU/SP

14

MUNICIPAL LAWSUITS

05/07/11

2ª VARA DE SÃO JOSÉ DO RIO PRETO/SP

8

EVICTION

02/08/11

2ª VARA DE SOROCABA/SP

10

EXECUTIVE

02/06/11

4ª VARA DE OSASCO/SP

38

FEDERAL LAWSUITS

27/07/11

2ª VARA DE OSASCO/SP

 

 

FINANCIAL INFORMATION

 

DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION.

 

OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY.

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,61

 - OFFICIAL RATE ON 25/08/2011

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

DUE TO THE LACK OF BALANCE SHEET FIGURES, WE ARE UNABLE TO COMMENT ON THE COMPANY'S FINANCIAL SITUATION.

 

WE POINT OUT THAT THE SUBJECT IS KNOWN LOCALLY AS A COMPANY THAT HAS A HUGE FINANCIAL STRENGTH AND CAN ALSO COUNT ON THE FINANCIAL SUPPORT OF ITS PARENT COMPANY WHICH IS ALSO REPORTEDLY A COMPANY WITH HIGH FINANCIAL POWER AND HIGH SCALE OF OPERATIONS.

 

REAL ESTATE:

 

   NOT AVAILABLE

 

VEHICLES:

 

   NOT AVAILABLE

 

MACHINES:

 

   NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO DO BRASIL S/A

CENTRO

OSASCO/SP

BANCO ITAÚ S/A

CENTRO

OSASCO/SP

BANCO SANTANDER (BRASIL) S/A

CENTRO

OSASCO/SP

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

ACTIVITIES COMMENTS

 

SUBJECT IS ENGAGED IN THE WHOLESALE AND RETAIL SALE OF GOODS IN GENERAL.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

CHINA, U.S.A., SOUTH AMERICA AND GERMANY.

 

   EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

VAREJO

 

 

 

STAFF:

 

THE COMPANY HAS: 7200 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY OPERATING AS SUBSIDIARY OF THE NORTH AMERICAN GROUP WAL MART. IT HAS A TRADE HISTORY AND PAYMENT RECORD BLEMISHED BY SEVERAL DETRIMENTAL FILES AND PAYMENT DELAYS BUT STILL IS GRANTED CREDIT FACILITIES BY SEVERAL LOCAL SUPPLIERS.

 

OUR INVESTIGATION SHOWED SEVERAL DETRIMENTAL RECORDS. ALTHOUGH MOST OF THE DETRIMENTAL FILES ARE SAID TO BE DISPUTES WITH SUPPLIERS, IT CAN BE NOTED THAT THE SUBJECT HAS AN UNFAIR PAYMENT BEHAVIOR WITH SOME SUPPLIERS WHAT MOST OF THE TIME LEAD THOSE SUPPLIERS TO SUIT THE SUBJECT IN ORDER TO ENFORCE PAYMENT.

 

THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY'S TRADE REPUTATION.

 

IN GENERAL, THE SUBJECT HAS A GOOD REPUTATION BEING KNOWN AS ONE OF THE BIGGEST SUPERMARKET CHAINS OPERATING IN THE COUNTRY HOWEVER, ITS BEHAVIOR WITH SOME SUPPLIERS IS VERY NEGATIVE. THE SUBJECT TAKES ADVANTAGE FROM ITS HIGH FINANCIAL POWER AND PURCHASING POWER AS THERE ARE MANY POTENTIAL SUPPLIERS AND SOMETIMES SHOWS A VERY POOR PAYMENT BEHAVIOR.

 

IN SHORT THE SUBJECT HAS A GOOD PAYMENT BEHAVIOR WITH THE SUPPLIERS WHICH ARE DEEMED INTERESTING TO ITS OPERATIONS AND AN UNFAIR BEHAVIOR WITH THOSE WHICH ARE NOT CONSIDERED CORE SUPPLIERS FOR ITS OPERATIONS.

 

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

CITY:

TELEPHONE:

CANDIDE IND. COM. LTDA

 

 

CARGILL AGRÍCOLA S/A

SÃO PAULO/SP

 

CHOCOLATES GAROTO S/A

VILA VELHA/ES

 

FORCE LINE IND. COMP. ELETRÔNICOS LTDA

 

 

GRENDENE S/A

 

 

IND. COM. MAQ. PERFECTA CORITIBA LTDA

 

 

INDÚSTRIAS GESSY LEVER LTDA

SÃO PAULO/SP

 

JOHNSON & JOHNSON

SÃO JOSÉ DOS CAMPOS/SP

12 3332-3100

NESTLE INDUSTRIAL E COMERCIAL

SÃO PAULO/SP

11 3534-2211

PHILIPS DO BRASIL

SÃO PAULO/SP

11 3546-2211

PURINA NUTRIMENTOS S/A

SÃO PAULO/SP

11 3536-3355

QUAKER ALIMENTOS LTDA

SÃO PAULO/SP

 

SANTISTA ALIMENTOS S/A

SÃO PAULO/SP

 

SPUMA PAC COM. EMB. LTDA

 

 

 

PAYMENT HISTORY:

 

197 SUPPLIERS REPORTED PAYMENTS:

    TOTAL AMOUNT:  R$ 181.817.138,00

 

AMOUNT OF INVOICES PAID: 25769

TOTAL OF PROMPT PAYMENTS: 80,2%

TOTAL OF DELAYED PAYMENTS: 19,8%

HIGHEST INVOICE: R$ 880.850,60

HIGHEST CREDIT: R$ 1.218.884,96

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT +90 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

54

153251

R$ 10.192.105,29

DUE WITHIN 60 DAYS

37

687

R$ 5.548.560,15

DUE WITHIN 90 DAYS

16

160

R$ 937.197,82

DUE WITHIN OVER 90 DAYS

3

49

R$ 26.604,87

ALL

60

2428

R$ 16.704.468,13

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED SUBSIDIARY OF WALL MART GROUP FROM THE U.S.A. A GROUP KNOWN WORLDWIDE BY ITS HIGH FINANCIAL STRENGTH AND HIGH SCALE OF OPERATIONS.

 

TRADE RELATIONS WITH THE SUBJECT ARE ADVISABLE BUT DUE TO THE LARGE AMOUNT OF DETRIMENTAL FILES REGISTERED AGAINST IT, CAUTION IS RECOMMENDED IN CREDIT OPERATIONS.

 

THE SUPPLIERS SHOULD MEET THE REQUIREMENTS MADE BY THE SUBJECT PROPERLY IN ORDER TO AVOID PAYMENT DELAYS AS THE SUBJECT BEHAVIOR SHOWS IT PRESENTS A HIGH RISK OF SLOW PAYMENTS.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.87

UK Pound

1

Rs.75.14

Euro

1

Rs.66.68

 

 

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%)

 

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.