MIRA INFORM REPORT

 

 

Report Date :

13.12.2011

 

IDENTIFICATION DETAILS

 

Name :

BACOU INTERSAFE INTERNATIONAL BV

 

 

Registered Office :

Ave 5ta B No. 6114, e. 66 y 70, Playa, Ciudad de La Habana

 

 

Country :

Cuba

 

 

Year of Establishment :

1980

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Commercialization of safety equipment.

 

 

No. of Employees :

38

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Cuba

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – CUBA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: High

Currency: Cuba (CUP)

100(CUP)=3.773(USD)

Branch Situation: Medium

 

 

IDENTIFICATION

 

Legal Name:

BACOU INTERSAFE INTERNATIONAL BV

 

 

Legal Address

Ave 5ta B No. 6114, e. 66 y 70, Playa, Ciudad de La Habana, Cuba

 

 

Telephone:

(537) 204-3344

Registration Number :

N.A.

Fax:

(537) 204-2688

Legal Form:

Limited Liability Company

Email:

bisicu@bacou.co.cu

Registered in:

Could not verify id the company is registered in Cuba or territories of Netherlands in the Caribbean.

Website:

http://bacou-intersafe.com/cuba/

Date Created:

1980

Manager:

PIETER KLAAS DE GRAAF

Date Incorporated:

1980

Staff:

38

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Commercialization of safety equipment.

 

 

BANKS

 

Name of the Bank

BANCO INTERNACIONAL DE COMERCIO

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Commercialization of safety equipment.

Products/Services description:

 

Boots, suits, jumpsuits, gloves, helmets, etc.

Sales are:

 

Wholesale, Retail

Brands:

 

Alba&n, Flamepro, Venus, Mutex, Spacel, among others.

Suppliers:

 

Wayne Plastics (Netherlands)

Operations area:

 

National.

The company imports from Europe and Asia.

The company does not export.

The subject employs 38 employee(s).

PAYMENTS

 

made on a 80 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

Ave 5ta B No. 6114, e.66 y 70, Playa, Ciudad de La Habana, Cuba

Comments on location:

 

Divided in sales offices.



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is privately held.

This information is considered as confidential.

Management:

 

Manager: PIETER KLAAS DE GRAAF

Related Companies:

 

ZELCOM S.A. HABANA IN BOND NORTE

Carretera de Berroa km. 1.5, Habana del Este. Ciudad de la Habana.

Telιfono-fax: 795 9871.

E-mail: bacouhib@enet.cu

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

 

USD

2010

 

Turnover

2,100,000

 

Operating Income

4,000

 

Net Income

1,000

 

Net worth

290,000

 

Bank liabilities

100,000

 

The cash flow is

Medium

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 Final Opinion

 

The company has 30 years of experience, reporting steady activity and having shown positive development. They currently have 38 employees, for which it is considered a small size company.  

The profitability is low, the indebtedness is high, the cash is medium, and the payments are long.

 

We recommend asking for strong guarantees before granting a line of credit due to the financial information for 2010 provided from our banking sources and the length of its payment period, which is long.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

LOW

Public

NO

 

Indebtedness

HIGH

Payments

LONG

 

Cash

MEDIUM

 

 

 

 

 

APPENDIX

 

Comments

 

Upon contact the person in charged refused to provide information about the company due to confidentiality. He refused to provide his name, verify the address or any other information.

 

The information in this report was obtained using third sources.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.42

UK Pound

1

Rs.81.92

Euro

1

Rs.69.94

 

 

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.