MIRA INFORM REPORT
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Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
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Name : |
HÄRTING AROMAS S.A. |
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Registered Office : |
Av. Presidente Eduardo Frei
Montalva 6000 - Quilicura , Santiago ,
XIII Region Metropolitana |
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Country : |
Chile |
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Date of Incorporation : |
29.12.1993 |
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Legal Form : |
Private Stock Company |
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Line of Business : |
Elaboration of bases for
scents |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
17.550 Pesos |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Chile |
a2 |
a2 |
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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 |
IDENTIFICATION
HÄRTING AROMAS S.A.
Av. Presidente Eduardo Frei Montalva 6000 -
Quilicura
Santiago
XIII Region Metropolitana
CHILE
Telephone : 56-2-4433500
Fax
: 56-2-4433525
E-Mail
: paola.vargas@harting.cl
Web Site : www.harting.cl
T A X : 96.690.690-1
SUMMARY
Started
: 1993
Total
Employees : 18
Payments :
Prompt
Capital
: 000's$ 2.647.339.-
Sic(s) : 2844
Line of Business: Elaboration of bases for scents.
Interpretation at the end of the report.
Credit Recommendation
000's Pesos 000's US$
dollars 000's Euros
Conservative value
:
17.550
38
27
Liberal value
:
19.305
42
30
If additional information is received or present
information is rectified, this
recommendation may be modified.
Financial indicators
Financial statements could not be obtained, thus
financial analysis can not be
carried out
COMMERCIAL
INFORMATION
Commercial Bulletin
: subject does not register
protested
checks, bank drafts nor promissory notes in the
commercial information bulletin
Labor
Bulletin : does not register labor infringements
Previsional Bulletin : does not register pension fund's
infringements
Consolidated delinquency : As at 26/07/2011,
subject does not register any
delinquent bill
TRADE REFERENCES
No credit experiences to date were obtained
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old
Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2004 07-10
Prompt
invoice
15.000 None
Since 1994 07-01
Prompt
invoice
-
-
It does not register protests of documents,
delinquent debts neither labor nor
pension funds' infringements.
According to taxpayer Id indicator, subject
registers 26 search entries over
the last 6 months.
Requests made by banks, industries, insurance,
telecommunications and credit
evaluation companies.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in
May 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following banks:
National
- Banco Bice ACCT # en $ y en US$,
branch Renca
- Banco de Chile, branch Renca
- Banco de Credito e Inversiones ACCT # en
US$, branch Renca
International
- Banco de Chile Nueva York (en $ y en US$)
United States
OPERATIONS
Line of Business : Elaboration of bases for scents
(To elaborate deodorants and other
related products)
Classification according to commercial activity:
Sic: 2844-0000 Toilet preparations
-0500 Cosmetic preparations
Subject is considered as a medium company in this
line of business, normal
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 5%.
International: 95%.
Exports to France, India, Mexico and United States
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
United
States
64,75 59,16
India
22,65 20,32
France
11,75 0,00
Mexico
0,85 20,51
Historical registries
Total 2010 = 000's$
2.105.768 Accumulated 2011 = 000's$ 597.789
Total 2007 =
000's$ 1.546.833
Customers
Main customers are: Line of business'
distributors, foreign companies, etc..
Purchases
Places orders with multiple suppliers
National: 99%
International: 1%
Imports from Argentina and United States
Records of Imports obtained from Customs'National
Service
Country
%last year %Accum.
-------------------------------------------------------
United
States
74,71 0,00
Argentina
25,29 100,00
Historical registries
Total 2010 =
000's$ 117.688 Accumulated 2011 = 000's$ 11.574
Main suppliers
- Celulosa Arauco y Constitucion S.A.
- CMPC Celulosa S.A.
- Occidental Chemical Chile Limitada
- Petroleos Trasandinos S.A.
Employees: 18 employees
Location
- Management located at Av. Presidente
Eduardo Frei Montalva 6000 Quilicura
Santiago, Chile, industrial area,
main avenue of busy traffic, construction
in good conditions
Branches
- Plant Los Horcones s/n El Pino Lt 4 A 1
Arauco Chile
RELATED COMPANIES
Subject is related with the following company:
- Härting S.A. T A X 92846000-2 Quilicura
Santiago
FIXED ASSETS
Real estates
Subject registers the following real estate
- Branch, El Pino Lt 4 A 1 Arauco-Chile,
Fiscal value of 000's$ 1.424.-, rol Nº
00148-105
Vehicles
Owns vehicles for the company's use
2 vans .
Machinery & Instalations
Equipments and machinery, not specified
INSURANCES
Insurance Company:
-Chilena Consolidada Seguros Generales S.A.
Due
: Unspecified due dates
In
force : Annual
Risks
: Fire & robbery.
Objetive
: Assets in general.
BOARD OF DIRECTORS
Director
: Thomas Francis Harting Glade TAX:4815479-4
Director
: Steven Härting
Director
: José Luis Ilabaca
ADMINISTRATION
General
Manager : Jorge Quinlan
Navarrete
Admin.& finances
: Paola Vargas Pacheco
supervisor
CURRICULUM
Thomas Francis Harting Glade
T A
X
: 4815479-4
Titled
as : Engineer.
Position
: Director
LEGAL INFORMATION
Legal Structure :
Private Stock Company
Constitution date : 29/12/1993.
Registered on leaf 28.561 N°23.481, Santiago
Trade Register 1993, under business name of HARTING S.A.
born after division of Química Harting S.A.
Notary
: Fernando Opazo Larraín, Santiago
Term of duration :
Indefinite
Legal
Address : Santiago - Chile
Published
in : Official Gazette dated
04/01/1994 page Nº 13
Current Social Capital: 000's$ 2.647.339.-Divided
to 57.098.843.- registered
shares unique series
Shareholder :
- 75,00% EMEA Inversiones S.A.
Administration is held by General Manager.
Legal changes
Public Deed dated 24/02/1994, notary Fernando
Opazo Larraín, Santiago, published
in the Official Gazette dated 13/04/1994 page N°
9, statutes were modified: was
modified into a limited liability partnership
called Química Harting Ltda. For
legal and banking purposes should be called
Harting Ltda. Capital is
$5.955.092.924.-
Public Deed dated 31/05/1994, notary Fernando
Opazo Larraín, Santiago, published
in the Official Gazette dated 25/07/1994 page N°
35, partners were modified:
social rights are transferred.
Public Deed dated 25/04/1995, notary Fernando
Opazo Larraín, Santiago, published
in the Official Gazette dated 24/05/1995 page N°
14, corporate structure was
modified: was modified from limited Liability
partnership into a stock company
called Harting Aromas S.A.
At the same time, capital was increased from
$ 5.955.092.924.- to $
6.660.193.792.-divided into 12.000.000 nominal
shares.
Public Deed dated 24/07/1997, notary Samuel Klecky
Rapaport, Santiago, published
in the Official Gazette dated 14/08/1997 page N°
15, capital was increased: it
was decreased to $ 3.632.909.375.-
Public Deed dated 05/10/1999, notary Samuel Klecky
Rapaport, Santiago, published
in the Official Gazette dated 22/11/1999 page N°
17, capital was increased:
confirmed agreements where capital decreased was
authorized: from $
7.866.314.231.- to
$ 3.632.909.375.- (Balance sheet as at 31.05.1997)
divided into 12.000.000
nominal shares.
Public Deed dated 02/12/1999, notary Andrés
Adriazola Lema, Santiago, published
in the Official Gazette dated 04/12/1999 page N°
12, statutes were modified:
modified summary of Oct 5, 1999 in which date of
deed and inscription were
omitted.
Public Deed dated 28/12/2001, notary Gladys
Pizarro Pizarro, Santiago, published
in the Official Gazette dated 21/02/2002 page N°
14, capital was reduced: from
$4.347.917.778 to $3.147.917.778, divided into
12.000.000 shares.
Public Deed dated 12/12/2002, notary Alvaro
Bianchi Rosas, Santiago, published
in the Official Gazette dated 18/12/2002 page N°
15, capital was increased: from
$3.147.917.778, divided into 12.000.000 shares to
$4.254.822.418, divided into
16.000.000 shares.
Public Deed dated 19/12/2002, notary Alvaro
Bianchi Rosas, Santiago, published
in the Official Gazette dated 21/12/2002 page N°
16, statutes were modified:
rectified prior deed.
Public Deed dated 15/02/2007, notary Sebastián
Aninat Salas, Santiago, published
in the Official Gazette dated 21/02/2007 page N°
10, capital was increased: from
$4.674.161.340, divided into 16.000.000 shares to
$5.774.161.340, divided into
28.854.674 shares.
Public Deed dated 30/10/2007, notary Sebastián
Aninat Salas, Santiago, published
in the Official Gazette dated 13/11/2007 page N°
26, statutes were modified:
regarding the management.
Public Deed dated 21/12/2007, notary Fernando
Alzate Claro, Santiago, published
in the Official Gazette dated 16/02/2008 page N°
16, taking over was carried out
from Harting Representaciones Dos S.A. through the
transfer of all assets and
liabilities to subject. Consequently, takenover
company is dissolved. Capital
shall remain in $7.162.274.808, divided into
33.107.436 shares.
Public Deed dated 07/01/2008, notary Fernando
Alzate Claro, Santiago, published
in the Official Gazette dated 19/02/2008 page N°
19, statutes were modified:
subject was divided into 2 companies: one is the
legal continuer, keeping
business name and taxpayer N° and the new one
called Härting Aromas Dos S.A.
capital was reduced: from $7.162.274.808 to
$4.181.484.922, divided into
28.854.674 shares.
Public Deed dated 19/02/2008, notary Sebastián
Aninat Salas, Santiago, published
in the Official Gazette dated 22/02/2008 page N°
26, capital was reduced:
$4.181.484.922, divided into 33.107.436 shares to
$1.344.952.817, divided into
33.107.436 shares.
Public Deed dated 28/07/2009, notary Alvaro
Bianchi Rosas, Santiago, published
in the Official Gazette dated 06/08/2009 page N°
12, capital was increased:
$1.534.998.124.- (revalued) to $2.647.339.318.-
divided into 57.098.843 ordinary
shares.
INFORMATION SOURCES
Miss. Paola Vargas Pacheco, Admin.&
finances supervisor,
declined financial figures, however,
submitted the data shown in this report.
Note: Will move to offices in Sector El Cortijo,
Quilicura, next month of
August.
-Other outside information sources.
Exchange rate
$455,91 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.16 |
|
UK Pound |
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
RATING EXPLANATIONS
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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 |
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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.