MIRA INFORM REPORT

 

 

Report Date :

17.02.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ADEX INDÚSTRIA E COMERCIO DE TINTAS E VERNIZES LTDA.

 

 

Registered Office :

AV Maracanã,8400 Parque Industrial (Br 369, Km 180), 86703-730 Arapongas/PR

 

 

Country :

Brazil

 

 

Date of Incorporation :

01.06.2001

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Paints and Varnishes.

 

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 :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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 and address

 

ADEX INDÚSTRIA E COMERCIO DE TINTAS E VERNIZES LTDA.

 

MAIN ADDRESS:

AV MARACANÃ,8400 PARQUE INDUSTRIAL (BR 369, KM 180)

ZIP CODE/CITY:

86703-730 ARAPONGAS/PR

PHONE:

43 3276-9880

FAX:

43 3276-9898

E-MAIL:

financeiro@adex.com.br

WEB SITE:

www.adex.com.br

 

BRANCHES:

 

NOT AVAILABLE

 

 

LEGAL DATA

 

MAIN ACTIVITIES

 

MANUFACTURE OF PAINTS AND VARNISHES.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

01/06/2001

REGISTER DATE:

01/06/2001

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

04.484.640/0001-75

STATE REGISTER:

902.316177-46

SHARE CAPITAL:

R$ 150.000,00

 

BOARD OF DIRECTORS:

 

 

 

ANTONIO CARLOS BERALDO

MANAGER

AILTON BATISTA CORREA

MANAGER

LEONILDO FRITZEN

MANAGER

 

 

AUTHORIZED USE OF SIGNATURE

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

ANTONIO CARLOS BERALDO

R$ 50.000,00

AILTON BATISTA CORREA

R$ 50.000,00

LEONILDO FRITZEN

R$ 50.000,00

 

 

AFFILIATES / SUBSIDIARIES:

 

 

 

NOT AVAILABLE.

 

 

 

COMPANY'S BACKGROUND

 

 

THE SUBJECT WAS ESTABLISHED ON JUNE 1, 2001 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

THE COMPANY OPERATES WITH THE TRADE NAME "REALFIX - TINTAS E VERNIZES".

 

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY IS SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. TANIA - FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC RECORDS INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

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 AS THEY ARE STILL NOT AUTHORIZED TO DO SO.

 

OUR INVESTIGATION THROUGH THE OUTSIDE SOURCES SHOWED THE FOLLOWING FINANCIAL DATA ABOUT THE SUBJECT.

 

 

 

MONTHLY SALES

 

 

  2007

 

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

JANUARY

R$ 1.056.377,28

FEBRUARY

R$ 737.735,48

MARCH

R$ 1.116.780,36

APRIL

R$ 1.139.985,27

MAY

R$ 1.428.246,57

JUNE

R$ 1.179.639,91

JULY

R$ 1.194.433,88

AUGUST

R$ 1.185.520,21

SEPTEMBER

R$ 1.151.153,14

OCTOBER

R$ 1.554.184,36

NOVEMBER

R$ 1.578.021,51

DECEMBER

 

TOTAL

R$ 13.322.077,97

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 11/02/2011

 

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

OUR DATABASE RECORDS SHOWED THE LATEST AVAILABLE FINANCIAL DATA FOR THE SUBJECT DATE 2006. THE SALES REACHED ABOUT R$ 11.000.000,00, TOTAL ASSETS ABOUT R$ 4.000.000,00 AND NET EQUITY ABOUT R$ 622.000,00 BUT THE ABSENCE OF UPDATED FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT THE SUBJECT'S CURRENT FINANCIAL STANDING.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 1.400.000,00

 

VEHICLES:

 

NOT AVAILABLE

 

MACHINES:

 

 NOT AVAILABLE

 

 

INSURANCE

 

INSURANCE COMPANY:

ITAU SEGUROS S/A

COVERAGE:

ALL RISKS

VALUE:

R$ 1.500.000,00

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO ITAU S/A

PLATAFORMA / 41 3320-4031

CURITIBA/PR

 

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

 

THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF PAINTS AND VARNISHES.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

 

TAIWAN.

 

EXPORTS TO:

 

NOT AVAILABLE.

 

MAIN CLIENTS:

 

DOMESTIC CLIENTS:

NOT AVAILABLE.

 

STAFF:

 

THE COMPANY HAS: 87 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT WAS ESTABLISHED IN 2001. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

CITY:

PHONE:

ASHLAND RESINAS LTDA

CAMPINAS/SP

19 3781-1345

BASF S/A

SÃO BERNARDO DO CAMPO/SP

11 800.19300

CIA NITROQUIMICA BRASILEIRA

SÃO PAULO/SP

11 6137-3100

COPERSUCAR COOP. DOS PROD. CANA AÇÚCAR E ÁLCOOL EST SP

ARARAS/SP

11 6618-8543

EXPRESSO RODOVIÁRIO TAMOYO

 

11 2273-8411

IPIRANGA COMERCIAL QUIMICA

CANOAS/RS

51  477-1999

MAKENI CHEMICALS COM PRODS QUIMICOS LTDA

 

11 4360-6400

MILLENIUM CHEMICAL DO BRASIL S/A

CAMAÇARI/BA

11 3040-7800

PETROBRAS DISTRIBUIDORA S/A-BR

CUBATÃO/SP

0800 5102418

RHODIA S/A

SÃO PAULO/SP

11  715-1896

SCHENECTADY CRIOS

RIO CLARO/SP

19 3535-6792

 

PAYMENT HISTORY:

 

7 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 173.234,00

 

AMOUNT OF INVOICES PAID: 54

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 10.500,00

HIGHEST CREDIT: R$ 27.140,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 60 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

3

7

R$ 56.265,33

DUE WITHIN 60 DAYS

1

2

R$ 21.000,00

ALL

3

9

R$ 77.265,33

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. THE COMPANY KEEPS OPERATING NORMALLY SO FAR BUT IN THE ABSENCE OF FINANCIAL DATA WE CANNOT ACCESS ITS CURRENT FINANCIAL STANDING.

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED BUT IN MODERATE AMOUNTS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA.

 

DESPITE THE ABSENCE OF FINANCIAL DATA A CREDIT LIMIT OF USD 50.000,00 MAY BE CONSIDERED. HIGHER AMOUNTS SHOULD BE GRANTED ON SECURED TERMS ONLY OR UPON PRESENTATION OF THE UPDATED FINANCIAL DATA.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.45

UK Pound

1

Rs.72.90

Euro

1

Rs.61.43

 

 

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 Company

----

 

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.