MIRA INFORM REPORT
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Report Date : |
28.12.2011 |
IDENTIFICATION DETAILS
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Name : |
GNC GALILEO S.A. |
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Registered Office : |
Rivadavia 986, 7o.piso, Ofic.26 de la Buenos Aires City |
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Country : |
Argentina |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
30.09.1987 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturing & marketing of pumps, compressors, taps and valves |
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No. of Employees
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88 persons |
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 : |
Moderate |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Argentina |
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 |
Registered
Name
GNC GALILEO S.A.
C.U.I.T. No.: 30-61608546-4
Summary
BEGINNER OF ACTIVITIES. IT OPERATES AS SUCH SINCE 1987. BALANCE SHEET AS
OF 30/09/2010: COMMITTED ECONOMIC-FINANCIAL POSITION WITH POOR FINAL
PROFITABILITY. FOR CREDIT TREATMENT REQUIRE
SOLID ADDITIONAL GUARANTEES.
Operations
Pumps, compressors, taps and valves
MANUFACTURING
MARKETING
Legal
Structure
Legal form:
Public limited company
Created: 30/09/1987
Registered: 30/12/1987
Duratión: 30/12/2086
End of fiscal year: 30 September
Contact
Legal address:
Rivadavia 986, 7o.piso, Ofic.26 de la Buenos Aires City, Repúblic of Argentina.
Operative
and administrative address: Avda.Gral.Paz 265, Saenz Peña, Buenos Aires
Province, Repúblic of Argentina.
Phone: (54-11) 4712-6544/6522/6002
Fax.: (54-11) 4712-6003
Partners
President:
DE LA
ORDEN ULISES
Vice-president:
ROJAS PAYAN
JUAN MANUEL
Director: MARANCA
FAUSTO MARIA LUIS JUAN R.B.
Director: DAYTON
GREGORIO FRANCISCO
Alternate Director: ALVAREZ
JORGE ERNESTO
Alternate Director: COMPOSTO
VICTOR
The first two exhibit are responsible for directing and managing the company in
his capacity as manager with the use of the corporate signature
interchangeably.
Corporate
Stock
$ 5.786.000
Personal
Information
DE LA ORDEN ULISES:
------------------
argentino, married, Enggenier, born 13/05/1945, DNI.No.: 4.609.981 with address
in 3 de Febrero 1712, San Isidro, Buenos Aires Province.
History
Based on data contained in our power, being
able to cite the owner for signature in his capacity as the initiator of the
activities carried out and for which it is located at the address exposed.
It is a stakeholder in the firm VIRTUAL GASNET INTERNATIONAL S.A. Writing
consisting of 21/06/2007 No. 201 and which also participates SOCMA INVERSIONES
S.A. which is earmarked address the provision of transport services, marketing
and distribution of natural gas.
Economic-Financial
Position
Balance sheet as 30/09/2010:
ASSETS:
$
------
---
Disp.,Inv.,Créd.,etc.
63.375.222
Invetories
25.075.834
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Total current
88.451.056
Total non-current
18.724.907
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TOTAL ASSETS
107.175.963
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LIABILITIES:
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Debts
84.470.248
Salaries and social security
2.669.743
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Total current
87.139.991
Total non-current
10.157.964
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Total liabilities
97.297.955
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Net worth
9.878.008
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LIABILITIES+NET WORTH
107.175.963
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STATEMENT INCOME:
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Net sales
128.365.246
Cost of sales
-87.631.998
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Gross profit
40.733.248
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Expenses comercializatiòn
-25.552.426
Expenses administratiòn
- 7.156.167
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Sub-Total
8.024.655
Others incomes
- 5.845.611
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FINAL RESULT (GAIN)
2.179.044
===========
It should be noted that after the owner has signed a new annual period and
therefore any comment that is realized here does not reflect its current
practice in economic and financial situation.
Following that caveat, says that to 30/09/2010 had been operating with a
liquidity of 1.01 due to the very close relationship between assets and
liabilities, while only 0.11 available own resources as to address each $ 1.00
of liability assumed for third.
All this, taken together, form an economic and financial position engaged tone.
Passed directly to the income level, they exceeded the previous period of $
101,786,575 were while this was not reflected in the income statement, since
the profitability of it has been of 1.69% on sales from view all poor and
without any importance.
Assets
REAL ESTATE:
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Avda.Gral.Paz 265, Saenz Peña, Buenos Aires Province, Repúblic of Argentina.
Evolution
and Results
The specific purposes of the holder have
been exposed early, counting with adequate infrastructure and organization in
line, which involved its executives in conjunction with the necessary staff.
Specific imports from the U.S., Germany and Italy, not being marked its foray
into the export market.
* 88 EMPLOYEES.
FOREIGN TRADE:
-----------------
In the last twelve months, it has made specific imports by u$s. 9.164.376
according to the following detail:
EE.UU.
............................ u$s. 9.069.310
GERMANY ........................... u$s. 55.960
ITALY ............................. u$s. 39.105
Payment Record and Credit
Risk
BANCO SUPERVIELLE
BANCO CREDICOOP
HSBC BANK ARGENTINA
BANCO DE GALICIA Y BS.AIRES
CREDIT RISK:
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OCTOBER 2011
MERIDIAN 10/2011 1
$ 4.243.000
FINANSUR "
" $ 3.251.700
SUPERVIELLE "
" $ 2.153.400
INV.Y COM.EXTE. " "
$ 2.095.300
SERV.Y TRANSACC. " "
$ 1.702.500
BCO.CREDICOOP "
" $ 1.252.400
AMERICAN EXPRESS " "
$ 53.800
BCO.PATAGONIA "
" $ 700
HSBC "
" $
300
GALICIA "
" $ 300
BCO.DE LA PAMPA " 2
$ 211.800
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TOTAL: $ 14.965.200
============
Situatiòn 1 = normal.
Situatiòn 2 = delay 31/90 days.
INSURANCE:
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LA HOLANDO SUDAMERICANA CIA.DE SEGUROS S.A.
Concept
It is commercially related to companies of
this one and other places, good part of which offer its credit support without
making until the moment objections on the modes of payment that it sustains.
* FULFILLMENT: NOT OBJECTED.
Final
Opinion
According to what
was exposed, for credit treatment it is advisable to operate over very firm
bases, in order to avoid problems.
* FOR CREDIT OPERATIONS OPERATE OVER VERY FIRM BASES.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.89 |
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UK Pound |
1 |
Rs.82.71 |
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Euro |
1 |
Rs.69.15 |
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.