MIRA
INFORM REPORT
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Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
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Name : |
BULKNET S.A. |
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Registered Office : |
Canelones 1381 Dpto. 401 Montevideo |
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Country : |
Uruguay |
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Year of Establishment : |
2000 |
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Legal Form : |
Offshore Company |
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Line of Business : |
Sale overseas of pharmaceutical products and inputs |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Offshore Company |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Uruguay |
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 |
IDENTIFICATION
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CORRECT COMPANY NAME |
BULKNET S.A. |
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TAXPAYER REGISTRATION |
RUT 214255110017 |
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MAIN ADDRESS |
Canelones 1381 Dpto. 401 |
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CITY / PROVINCE |
Montevideo |
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DEPARTAMENT / STATE |
Montevideo |
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COUNTRY |
URUGUAY |
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TELEPHONE |
(598) |
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E-MAIL |
jelenberg@unity.com.uy |
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COMMENTS |
Note: The address in the heading appears in the Tax Bureau as REGISTERED OFFICE. When it was verified, we found out that the address is under the name of María Fulgosi who informed that such apartment is a home address.Mrs. Fulgosi said she knew neither Bulknet S.A. nor its owners.Mrs. Elsa Britos, President of Bulknet S.A. only informed that the company's address is Canelones 1381of. 401, Montevideo.Accounting Firm: Unity RSM International (a firm managing Bulknet S.A.) Address: Plaza de Cagancha 1145 Dpto. 401, Montevideo. Tel.(+598) 2903 0313Contact person: Javier Elenberg - Unity, Member of RSM International. |
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SUMMARY
Date of
foundation 2000 Capital stock Ps$2,700,000.=
Pesos. Chief Executive BRITOS MACHADO,
ELSA MARIA Disposition Report prepared
through third-party sources. Payments policy P5 Without
rating (No payment experience traced) Credit (**) NN:
Indeterminate / Information is insufficient. |
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LEGAL BACKGROUNDS
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LEGAL STATUS |
Offshore Company |
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DATE OF INCORPORATION |
14APR2000 |
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DURATION |
100 years |
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REGISTRATION |
Entry 3596 |
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INITIAL CAPITAL |
US$100,000.= Dollars |
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CURRENT PAID-IN CAPITAL |
Ps$2,700,000.= Pesos. |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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SHARE VALUE |
US$100.= Dollars |
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CURRENT EXCHANGE RATE (US$) |
Ps$20.= Pesos per 1 USD |
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COMMENTS |
Publications obtained from the website of the judiciary in the Argentine Nation: the address of Bulknet S.A. in the Argentine Republic is the address of the Peter Fletcher office.Estudio Peter FletcherAddress: Lavalle 1447 Piso 1, Oficina 4, Buenos Aires, Argentina.Tel.: (+54) 11 4372 7482It's worth mentioning that Mr. Basile appears as the proxy of Bulknet S.A. in the website of the Judiciary in the Argentine Nation. |
DIRECTORS - EXECUTIVES – SHAREHOLDERS
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WHO IS WHO?
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BRITOS MACHADO,
ELSA MARIA |
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NATIONALITY |
Uruguayan |
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ID |
IDE 1.826.418-9 |
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DOMICILE |
Boulevard Artigas 3916 Apto 212 |
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TELEPHONE |
22006490 |
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SEX |
Female |
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BACKGROUND INFORMATION |
She is member of the Argentinian company that was filed a claim for fraud because the corporate name in Uruguay was changed several times. Víctor Norberto Quintieri is also involved in this case. |
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ASSOCIATED AS PER OUR DATABASE
TO
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DUTHILLEUL LORENZO, GERARDO
JULIO
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NATIONALITY |
Uruguayan |
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ID |
IDE 814.931-5 |
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SEX |
Male |
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BUSINESS HISTORY
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Subject Company was established on April 4, 2000, pursuant to Entry 3596, as a Financial Investment Corporation (Law 11.073).Reform of Bylaws by Extraordinary Meeting: 01/08/2003 - Law 16.060 (Former Law 11.073)02/01/2004 - At Present: Sociedad Anónima (Law 16.060). |
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BUSINESS
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SIC Classification |
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Main activity |
PURPOSE: Industrializing and selling in every form, goods; renting of goods, works and services in the following industries and annexes: food, household and office supplies, automotive, bar, giftware, rubber, fuel, communications, construction, cosmetics, leather, sports, publishing, electronics, teaching, shows, extraction, hardware, photography, fibers, fruits of the country, hotel, printing, Information technology, jewelry, toys, wool, sinks, bookstores, wood, machines, maritime, mechanics, medicine, metallurgy, music, engineering works, optics, paper, perfume industry, fishing, plastics, press, advertising, chemistry, radio, professional, technical and administrative services, tobacco, television, textile, transport, securities, clothing, veterinary, glass.Imports, exports, representations, commissions and consignments.Buying and selling, renting, administration, construction and every kind of real estate operation, observing legal prohibitions; Farming, reforestation, fruit growing, citrus growing and byproducts, complying with legal provisions.Note: Line of business according to the Official Newspaper. Law 16.060.Subject Company could be engaged in the sale overseas of pharmaceutical products and inputs.Note: Line of business according to Internal Audit of the Nation. |
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Import |
No |
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Export |
No |
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Comments |
Initial PURPOSE: It could carry out overseas the following activities: A) Investments in securities, bonds, shares, warrants, debentures, drafts, similar documents.B) Importas, exports, commisions, representations, mandates, financial operations, farming operations, insurance and reinsurance. C) Operation of brands, patents, industrial privileges, similar intangible assets.D) Commercial and industrial operations in the following industries and annexes: food, automotive, communications, electronics, Information technology, wood, metallurgy, paper, fishing, chemistry, professional services, television, textile, transportation, tourism and clothing.E) Participation, incorporation or acquisition of companies operating in the above industries.F) Every kind of real estate operation. In the country, it will be able to carry out every activity allowed by the regime it makes use.Note: Line of business according to Official Newspaper. Law 11.073Annual Validity Certificate: Authorized (Issue date: 14/07/2011 - Expiration date: 31/07/2012)
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FINANCIAL INFORMATION
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Interviewee(s) |
Elsa Britos |
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Position(s) |
President |
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Disposition |
Report prepared through third-party
sources. |
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Information provided |
First, we contacted Mrs. Elsa Britos (the company's President according to incorporation) who told us that all the questions about Bulknet S.A. should be asked to the accounting firm Unity RSM International.Javier Elenberg is the account executive of Bulknet S.A. We contacted him and he told us he should be authorized by the owners of Bulknet S.A. to provide any information. A follow-up was made, but we have not received any reply.Publications obtained from the website of the Judiciary in the Argentine Nation inform that the address of Bulknet S.A. in the Argentine Republic is the address of the Peter Fletcher office.We contacted Eliana, an employee of Peter Fletcher law firm, who said that for inquiries about companies, we should ask Mr. Mariano Basile, lawyer of the above law firm. We tried to arrange an interview with him, but Eliana told us that Mr. Basile was not there and that he would call us as soon as he receive the message. A follow-up was made, but we haven't received any reply.It's worth pointing out that Mr. Basile appears as the proxy of Bulknet S.A. in the website of the Judiciary in the Argentine Nation.Only available information gathered from official records. |
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FINANCIAL SITUATION |
UNDETERMINEDThe company's Financial Standing is considered to be Undetermined since there is no financial information that allows us to asses its results.No records of commercial activities conducted in the country by the Subject Company have been found. |
PAYMENTS RECORD: TRADE
REFERENCES
(Confidential
Information) |
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CREDIT HISTORY No commercial credits or financing granted to Subject have been found in the inquiry made in local sources. Therefore, its payment history cannot be determined.It seems it has no commercial activities in the local market.No debts in the Financial System were found. No payment experience was found either. |
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CREDIT OPINION
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Comnsulted
Credit Amount : |
Maximum Credit? |
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Suggested Credit
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Not eligible |
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A
credit opinion can not be given due to the lack of financials and payment
experience. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.16 |
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1 |
Rs.81.29 |
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Euro |
1 |
Rs.69.47 |
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.