MIRA INFORM REPORT

 

 

Report Date :

16.02.2011

 

IDENTIFICATION DETAILS

 

Name :

QNOVA SA

 

 

Registered Office :

Carretera Al Pacifico Kilometro 19.3 Granjas Italia No. 5, Villa Nueva, Guatemala CA

 

 

Country :

Guatemala

 

 

Year of Establishment :

1990

 

 

Legal Form :

Sociedad Anonima

 

 

Line of Business :

Import and distribution of chemical products

 

 

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

 

Maximum Credit Limit :

USD 30.000

Status :

Satisfactory

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)

Guatemala

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - GUATEMALA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: High

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Qnova S.A

Address in the order:

Carretera Al Pacifico Kilometro 19.3 Granjas Italia No. 5, Villa Nueva, Guatemala CA

 

 

Legal Name:

QNOVA SA

 

 

Legal Address

Carretera Al Pacifico Kilometro 19.3 Granjas Italia No. 5, Villa Nueva, Guatemala CA

Operative Address

Carretera Al Pacifico Kilometro 19.3 Granjas Italia No. 5, Villa Nueva, Guatemala CA

Telephone:

+502 663 05 353

RNC :

NA

Fax:

+502 663 05 353

Legal Form:

Sociedad Anonima

Email:

ceperez@quirsa.com

Registered in:

Guatemala

Website:

http://www.quirsa.com/

Date Created:

1990

Manager:

Gunther H. Reitzel President

Date Incorporated:

-

Staff:

100 (at group level)

Stock:

NA

 

 

Value:

NA

Activity:

Import and distribution of chemical products.

 

 

 

BANKS

 

Name of the Bank

Banco GyT

 

BUSINESS

 

HISTORY

 

The company was created in the year 1990

PRINCIPAL ACTIVITY

 

The company engages in the import and distribution of chemical products.

Products/Services description:

 

Corn Starch

Fresh fruits

Chemical products

Sales are:

 

Wholesale

Brands:

 

DOLE

Clients:

 

Mother Company

Farmaceutical Industries

Livestock industry

Cosmetological industry

Scent industry

Operations area:

 

National, Local

The company imports from South America, Europe and Asia

The company does not export

Trade References:

 

The person contacted refused to provide the names of their suppliers on grounds of confidentiality

PAYMENTS

 

made on a 50 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at CARRETERA AL PACIFICO KILOMETRO 19.3, GRANJAS ITALIA NO.5

The property is:

 

Owned

Comments on location:

 

This is the main office in Guatemala

Branches:

 

There were no branches found for this company.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is part of the QUIRSA Group of companies. A Conglomerate that is family owned by the Reitzel family, engages in the import and distribution of various chemical substances.

Management:

 

Gunther H. Reitzel President

Related Companies:

 

The company QUIRSA has different companies in various countries like:

El Salvador

Honduras

Nicaragua

Costa Rica

Panama

Republica Dominicana

Republica de Cuba

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Lic. Carlos Pérez Manager who refused to provide us any financial data on grounds of confidentiality.

 

Estimated sales would be in the range of USD $ 1.500.000 to USD $ 2.000.000

 

 

Legal Fillings

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

 

 

Rating

 

Local credit bureau gave a Correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 Final Opinion

 

This company has been in business for 20 years, it has a staff of 100 employees at group level, which makes it a part of a medium group of companies. There were no legal filings found against the company or its legal representatives.

 

A credit line may be considered for USD 30.000

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Comments

 

We have contacted Lic. Carlos Pérez Manager who refused to provide us any financial data on grounds of confidentiality.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.50

UK Pound

1

Rs.73.07

Euro

1

Rs.61.63

 

 

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

 

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.