MIRA INFORM
REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
Textil Mela S. A. C. |
|
|
|
|
Registered Office : |
Pasaje |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
09.04.1987 |
|
|
|
|
Com. Reg. No.: |
Card 60951, transferred to Entry 00801895 |
|
|
|
|
Legal Form : |
Closely – Held Corporation |
|
|
|
|
Line of Business : |
Manufacture and Commercialization of Elastic, as well as Import and Sale of Threads. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
US$ 28,000 |
|
Status : |
Moderate |
|
Payment
Behaviour : |
Unknown |
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
DENTIFICATION
|
CORRECT COMPANY
NAME |
: |
TEXTIL MELA
S.A.C. |
|
TRADE NAME |
: |
"TEME
S.A.C." |
|
TAXPAYER
REGISTRATION |
: |
RUC 20101774997 |
|
MAIN ADDRESS |
: |
Pasaje San
Lorenzo 240, Urb. Huerta Mendoza, La Victoria |
|
CITY |
: |
Lima |
|
DEPARTMENT/STATE |
: |
Lima |
|
COUNTRY |
: |
PERU |
|
TELEPHONE |
: |
4246583 / 3304429 |
|
FAX |
: |
4318854 |
|
WEB SITE |
: |
N/A |
SUMMARY
INCORPORATION : 1987
LAST CAPITAL : S/.1,050,000.= Nuevos Soles
SALES : 0.00
BUSINESS TREND : Undetermined
EMPLOYEES : 32
PAYMENTS : Without rating (No payment
experience traced)
CHIEF EXECUTIVE :
JABBOUR NAKHOUL, FARES MAJID GEORGES
Disposition :
MODERATE (Some general information and some figures).
LEGAL BACKGROUNDS
|
LEGAL ESTATUS |
: |
Closely-held
Corporation |
|
DATE OF
INCORPORATION |
: |
09APR1987 |
|
START OF
OPERATIONS |
: |
2105/1987 |
|
REGISTERED IN |
: |
Lima |
|
NOTARY OFFICE |
: |
N/A |
|
DURATION |
: |
Perpetual |
|
REGISTRATION |
: |
Card 60951,
transferred to Entry 00801895 |
|
INITIAL CAPITAL |
: |
I/.150,000.=
Intis (old currency) |
|
CURRENT PAID-IN
CAPITAL |
: |
S/.1,050,000.=
Nuevos Soles |
|
LAST CAPITAL
INCREASE |
: |
June 2010 |
|
SHAREHOLDERS'
EQUITY |
: |
N/A |
|
TYPE OF SHARES |
: |
Registered |
|
LISTED AT STOCK
EXCHANGE |
: |
No |
|
SHARE VALUE |
: |
N/A |
|
CURRENT EXCHANGE
RATE |
: |
S/.2.78 per
USD1.00 |
|
MEMBERSHIP |
: |
N/A |
COMMENTS .-
Last capital increase to
S/.817,000.= Nuevos Soles was made through capitalization of profits,
contribution in cash according to General Patner's Meeting held on 20.04.2007, as well as Notarial Acts dated
20.06.2007 and 23.07.2007, before José Barreto Boggiano, Notary Public of Lima
as shown in Record 00801895, Page 13/13.
HiSTORY
The Company was formed on
09/04/1987 under the name TEXTIL MELA S.A.
On 19.07.2001, legal status was
changed for a Closely-held Corporation, hence it adopted its current name:
TEXTIL MELA S.A.C.
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL NAMES /
COMPANY NAME |
TITLE |
OWNERSHIP % |
|
JABBOUR NAKHOUL, FARES MAJID GEORGES |
General Manager |
97% |
|
RIMACHI, HUGO |
Accountant |
|
|
JABBOUR
BALMELLI, GEORGINA TERESA |
Shareholder |
2% |
|
GROSO, CARLOS
RODRIGO |
Shareholder |
1% |
WHO
IS WHO?
JABBOUR NAKHOUL,
FARES MAJID GEORGES
NATIONALITY : Peruvian (naturalized)
BORN : 04OCT1953
DOC OF IDENT. : DNI 07873986
CIVIL STATUS :
Married to Carmen Susana Balmelli Meriino
BACKGROUND INFORMATION .-
Born in
He is a Lebanese trader who came to Gamarra in December 1973
and today he sells elastic to clothes manufacturers at Av. Antonio Bazo through
Textile Mela, one of main companies that then Banco Wiese Sudameris awarded as
one of its best clients (as small-sized companies)
He has 4 children.
He is the owner of two adjacent buildings next to Pasaje San
Lorenzo 240: One of two floors and the other, 3 floors.
JABBOUR BALMELLI,
NATIONALITY :
Peruvian
BACKGROUND INFORMATION .-
She is Fares Majid
Georges Jabbour Nakhoul's daughter.
GROSO, CARLOS RODRIGO
NATIONALITY :
Peruvian
RELATED COMPANIES TO SUBJECT
COMPANY OR TO MAJORITY SHAREHOLDER
TEME SAC is not related to any other local company.
BUSINESS
MAIN ACTIVITY .-
Manufacture and commercialization of elastic, as well as
import and sale of threads.
Trademark: Textil Mela SAC
IMPORT : Yes
Annual Imports in US$ (CIF) :
Year Monto
2010 274,766.00
2009 745,469.00
2008 1,129,165.00
2007 698,180.00
2006 474,276.00
2005 460,033.00
2004 283,427.00
2003 175,632.00
EXPORT : No
|
% CASH
SALES/METHOD |
: |
90% |
|
% CREDIT
SALES/TERMS |
: |
10% - drafts at
90, 60 and 120 days |
|
% FOREIGN SALES
(COUNTRIES) |
: |
N/A |
|
% DOMESTIC
PURCHASES |
: |
20% |
|
% FOREIGN
PURCHASES |
: |
Last capital increase to
S/.817,000.= Nuevos Soles was made through capitalization of profits,
contribution in cash according to General Patner's Meeting held on 20.04.2007, as well as Notarial Acts
dated 20.06.2007 and 23.07.2007, before José Barreto Boggiano, Notary Public
of Lima as shown in Record 00801895, Page 13/13. |
|
SELLING
TERRITORY |
: |
Domestic market
- 100% |
|
EMPLOYEES |
: |
32 |
LOCATION .-
|
Premises |
: |
Rented |
|
Monthly Amount |
: |
N/A |
|
Time Occupied |
: |
N/A |
|
Area |
: |
2,700 m2 |
|
Floors |
: |
2 |
|
Equipment |
: |
N/A |
|
Condition |
: |
Appropriate for its activities; commercial area |
|
Use |
: |
Headquarters,
warehouse, textile plant |
Remarks and other
Premises .-
The General Manager is the owner of the above premises.
COMMENTS .-
Clients: Wholesalers, retailers and industrialists of the
textile industry, clothes manufacturers and retail traders.
Business Purpose: Textile and dyeing activities as well as
related activities; commercialization
FINANCIAL
INFORMATION
|
Interviewee(s) |
: |
Fares Majid Georges
Jabbour Nakhoul |
|
Position(s) |
: |
N/A |
|
Cooperation |
: |
MODERATE (Some general information and some figures). |
|
Information
Provided |
: |
After some days insisting, we could contact Mr. Fares Majid
Georges Jabbour Nakhoul (General Manager) who kindly supplied general
commercial information as well as the following figures: Turnover 2010 S/.4,800,000.= Turnover 2009
S/.4,000,000.= Turnover 2008 S/.5,698,874.=
Mr. Jabbour argues sales mainly decreased because of the economic
crisis. He agreed to provide the
balance sheets within few days so in case of affirmative answer, additional
information will be sent, if not consider this report definitive. As far as we are concerned, we consulted
outside sources to complete this report but no updated balance sheets could
be obtained. Latest available
information kept in our files is Balance Sheet for the Fiscal Year ended as
of 31.12.2007 (12 meses), expressed in
Nuevos Soles, included for reference purposes. |
BALANCE SHEET
|
BALANCE SHEET DATE |
31DEC2007 |
|
PERIOD |
12 months |
|
EXCHANGE RATE PER US$ |
2.98 |
|
CURRENCY |
Nuevo Sol |
|
ASSETS |
|
|
TOTAL CURRENT |
3,051,427.00 |
|
FIXED |
910,341.00 |
|
TOTAL ASSETS |
3,961,768.00 |
|
LIABILITIES |
|
|
TOTAL CURRENT |
901,251.00 |
|
SHAREHOLDERS' EQUITY |
|
|
TOTAL EQUITY |
3,060,517.00 |
|
TOTAL
LIABILITIES |
3,961,768.00 |
|
SALES |
4,650,367.00 |
|
PROFIT(LOSS) |
77,851.00 |
RATIO
|
LIQUIDITY RATIO |
3.39 |
(Current Assets/Current
Liabilities) |
|
DEBT-TO-EQUITY RATIO |
339.59 |
(Shareholders's
equity/Current Liabilities %) |
|
PROFITABILITY MARGIN |
1.67 |
(Profits/Sales
%) |
|
WORKING CAPITAL |
2,150,176.00 |
(Current Assets
- Current Liabilities) |
FINANCIAL SITUATION : Active
Financial situation of the Company is indeterminate since no
accounting elements were available to analyze its current results. So far, we
were not able to get references from local suppliers.
The Company gets a leasing from Banco BIF to acquire new
machinery to remodel assets, seven machines from
Textil Mela S.A.C. is referred to as one of the major
companies trading elastic and threads at the commercial emporium known as
"Gamarra". Its client
portfolio includes traders, exporters and retail of threads.
PROPERTY OF THE COMPANY .-
It has 50 industrial
machines, among hook and eye machines, looms, irons, among other.
INSURANCE .-
Validity is variable (March, June).
|
Company |
Againts |
Amount |
Expiration |
|
MAPFRE PERU CIA
DE SEGUROS |
All risk |
N/A |
|
|
EL PACIFICO
PERUANO SUIZA |
All risk |
N/A |
|
PAYMENTS
RECORD
NOTE: Other Suppliers did not provide information or could
not be consulted.
|
Supplier |
Country |
Tel. |
|
Filamentos
Industriales SA |
PERU |
(511) 4852100 |
|
Manufacturas del
Sur SA |
PERU |
(511) 3302635 |
|
Lainos |
INDIA |
N/A |
|
Put Ltd. |
INDIA |
N/A |
COMMENTS .-
The above local suppliers have not responded to our request
for references.
Main suppliers operate in
CREDIT RISK CENTRAL .-
Previously, they were found a protested draft dated 25/01/2008
for US$3,682.99.= Dollars which is
still pending to be regularized.
NOTE: It should be
mentioned that a document may continue appearing as outstanding debt unless
appropriate reguiarization was made before the relevant chamber of commerce.
Subsequently, no similar irregularities have been reported.
On the other side, no canceled current accounts or credit
cards, tax debts were reported.
Nonetheless, found out a debt owed to AFP INTEGRA S.A.
(pension fund private administrator) for S/.94.13, Nuevos Soles concerning an
overdue period (2010-10).
BANKING
INFORMATION
BANKERS .-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
SCOTIABANK PERU |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO DE CREDITO
DEL PERU |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BBVA BANCO
CONTINENTAL |
N/A |
N/A |
N/A |
N/A |
N/A |
Subject Company is a client of the above banks which do not
provide references about their clients.
Nonetheless, facilities have been granted. Normal rating.
SUPERINTENDENCY OF BANK & INSURANCE.-
The SBS reported the following debts the Financial System as
at 30NOV2010 (Last Report)
|
Obligations |
DC (S/.) |
FC (US$) |
|
Advance in current
account cont |
11,456.00 |
0.00 |
|
Advance in current
account cont |
0.00 |
0.00 |
|
Credit Cards-Contract |
0.00 |
0.00 |
|
Overdrafts-Current Account |
0.00 |
0.00 |
|
Discounts-Drafts |
0.00 |
87,363.00 |
|
Discounts promissory note |
0.00 |
0.00 |
|
Loans |
0.00 |
0.00 |
|
Financial Leasing |
0.00 |
0.00 |
|
Foreign trade credit |
20,000.00 |
123,750.00 |
|
Current accruals |
64.00 |
768.00 |
|
Letters of indemnity |
0.00 |
8,636.00 |
|
Letters of credit |
0.00 |
0.00 |
|
Banking acceptance |
0.00 |
0.00 |
|
other OTROS 1 INGLES |
0.00 |
0.00 |
|
0.00 |
|
|
|
Total Indebtedness |
31,520.00 |
220,517.00 |
|
Guarantees |
0.00 |
268,231.00 |
Debt structure for Bank (Domestic Currency)
|
|
RATING |
% |
RATING DESCRIPTION ACCORDING TO THE SBS |
|
X |
NORMAL |
100 |
Good Financial Situation. Prompt payments, Consitent and
Updated Information. |
|
|
PROBLEM
POTENTIAL |
- |
Satisfactory Financial Situation but cash flow can weaken
which causes payment defaults. Irregular
trend. Weaken which causes payment defaults. Irregular trend. |
|
|
DEFICIENT |
- |
Deficient Financial Situation with cash problems, profis shortage,
continuous delayed payments, overdue credits and/or collection by count
order, decreasing trend. |
|
|
DOUBTFUL |
- |
Heavy Financial Situation, cash flow shortage, continuous
delayed payments, overdue credits and/or collection by court order. Not too reliable information. Bad
management. |
|
|
LOSS |
- |
Bad Financial Situation, cash flow does not cover
production costs, declared bankruptcy, payment discontinuance,collection by
court order. Bad management. |
Debt structure for Bank (Domestic Currency)
|
Bank |
Amoun (S/.) |
|
B. SCOTIABANK |
574,520.00 |
|
B. CREDITO |
354,321.00 |
GENERAL
INFORMATION
REPUTATION .-
NOTHING
AGAINST COMPANY
CREDIT
OPINION
This Company may be granted a credit limit amounting to
US$28,000.= Dollars.
NOTE: The Opinion given is confidential referential and with
out liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.57 |
|
|
1 |
Rs.72.50 |
|
Euro |
1 |
Rs.62.46 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.