MIRA INFORM REPORT
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Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
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Name : |
IMPORTADORA CASA ANDRES IBT S.A. |
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Registered Office : |
Ladron de Guevara
E12-32 (antes 1117) y Andalucia - Quito , Pichincha
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Country : |
Ecuador |
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Date of Incorporation : |
29.06.2009 |
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Legal Form : |
Stock Company |
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Line of Business : |
Import and Sale of Textile Products |
RATING & COMMENTS
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MIRAs 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 : |
Dollars 300.000 |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Ecuador |
c1 |
c1 |
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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
IMPORTADORA
CASA ANDRES IBT S.A.
Ladron de Guevara E12-32 (antes 1117) y Andalucia - Quito
Pichincha
ECUADOR
Telephone :
593-2-3227352
Fax : 593-2-2322749
E_Mail : cormaza@pianelecuador.com
Web Site :
www1.pianelecuador.com.ec
SUMMARY
Started
: 2009
Total Employees : 20
Payments :
Prompt
Subscribed Capital :
US$ 130.000.-
Sic(s) : 5131
Line of Business: Import and Sale of Textile Products
Credit Recommendation
Dollars
Conservative value :
300.000
Liberal value
: 350.000
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 90 ]
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
TRADE REFERENCES
Little or no local credit
experience, since main purchases are carried out
abroad
This company is part of the ''White listing'' of the Internal Revenue Service
(IRS). It means that tax obligations are promptly met.
Up to April 20, 2011, this company has NO delayed payments at IESS (Ecuadorian
Institute of Social Security)
Detail of Bank References
Qualifications of the Ecuadorian Financial system
A
Normal Risk
B Potential Risk
C Poor Record
D Unsecured Collection
E Uncollectable debt
The lowest qualification registered by Importadora
Casa Andres IBT S.A. in the National Financial System is (A)
Bank
: Banco Internacional
S.A.
Qualification
: A
To
expire
: US$ 2.565.004,90
Bank
: Banco Pichincha C.A.
Qualification
: A
To
expire
: US$ 3.770.625,95
Total debt up to April 2011 is US$ 6.335.630,85
Credit history
Maximum amount of indebtedness registered by the subject -, in the National
Financial System was US$ 6.335.630,85 in April, 2011
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2011 was US$ 4.097.228,20
The income tax for year 2009 was: USD 28.676
BANKS
The main banks are:
- Banco Internacional
S.A.
- Banco Pichincha C.A.
OPERATIONS
Line of Business : Import and Sale of Textile Products
The line of business registered at the Internal Revenue
Services(IRS) is: WHOLESALE AND RETAIL SALE OF
TEXTILE
PRODUCTS
Social objective registered at the Superintendency of
Companies is: This Company will be engaged in the import,
export, purchase, wholesale and retail, distribution,
representation of textiles, industrial equipment (electric or
electronic) and/or their spare parts, etc.
Classification according to commercial activity:
Sic: 5131-0000 Piece goods and notions
Sales
Sales are steady throughout the year
National sales territory
Customers
Main customers are: Public in general.
Purchases
Domestic and international purchases
Imports from China.
Employees: 20 employees
Location
- The administrative offices are located at Ladron
de Guevara E12-32 (antes
1117) y Andalucia Quito
Pichincha, Ecuador
Branches
Subject does not have any branch
RELATED COMPANIES
Subject is related to the following companies:
- Importadora de Telas
y Ropa Reinatex
S.A. T A X : 1792212685001
- Nmeir Seif
Robert Antouan T A X : 1715344154001
- Nmeir Seif
Gaby Antoine T A X : 1711636926001
- Nmeir Seif
Pierre Antoine (Casa Blanca) T A X : 1714399282001 Quito Pichincha
- Nmeir Seif
Andre Antoine (Casa Andres) T A X : 1716058183001
- Pianel Cia. Ltda. T A X : 1791998448001 Quito
Pichincha
INSURANCES
Insurance Company:
-Cervantes S. A. Compaņia de Seguros y Reaseguros
ADMINISTRATION
President :
Robert Antouan Nmeir
Seif TAX:1715344154001
General Manager : Gaby Antoine Nmeir
Seif TAX:1711636926001
Accountant :
Carmen Ormaza
CURRICULUM
Robert Antouan Nmeir Seif
T A
X
: 1715344154001
Civil status : Married
Birth date : 04/07/1971
-Ecuador
Position :
President
Mercantile Register : Number 11418 of 01/10/2009
Simultaneously : He is legally registered in the
IRS to perform personal
business since March 12, 2002. His registered business
activity is: Trading as comission agents.
Has no trade
name
Gaby Antoine Nmeir Seif
T A
X
: 1711636926001
Civil status : Married
Birth date : 07/10/1966
-Ecuador
Position :
General Manager
Mercantile Register : Number 7555 of 02/07/2009
Simultaneously : She is legally registered in the
IRS to perform personal
business since January 16, 2009. Her registered business
activity is: Rental of real state for shops. Has no trade
name
LEGAL
INFORMATION
Legal Structure :
Stock Company
Constitution date :
29/06/2009
Authorization : Resolution Nš 2495
Notary
: N° 32, Quito
Pichincha
Term of duration :
50 Year, ended on 29/06/2059
Legal Address : Quito - Ecuador
Published in : Official Gazette dated 24/06/2009
Current Subscribed Capital: US$ 130.000.-Divided to 130.000.- common shares
unique series amounting US$ 1.-
Subscribed & paid-in Initial Capital: US$ 10.000.-
Legal representation is held by General Manager.
Legal changes
By Resolution Nš 1829 on 06/05/2010, notary N° 32, Quito Pichincha, published
in
the Official Gazette dated 13/05/2010, capital was increased: amounting US$
120.000,00
Registered Trade name: Importadora Casa Andres
IBT.
This company is part of a Business Group leaded
by Nmeir family, whose main
business activity is sale of imported textile products, casual clothing and
home
appliances.
INFORMATION SOURCES
On 30/05/2011 Miss. Adriana Chiriboga,
Accounting Assistant, declined financial
information as she is not authorized to provide it, however, submitted
general
information.
We have not received a response to our request of information, despite our
insistence
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in Ecuador
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
Macroeconomic Information
Interest Rate for the week
of 01/03/2011
- 31/03/2011
Ref. Active Rate for
Operations ( % ) 8,65
Ref. Passive Rate
for Operations ( % ) 4,59
Basic Rate of
Central Bank ( % )
Legal
( %
) 8,65
Maximum
conventional
( %
) 9,33
Inflation
Ratio
Monthly
Inflation
( %
) 0,55 Feb/2011
Accumulated
( %
) 1,24 Jan/2011
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
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UK Pound |
1 |
Rs.73.46 |
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Euro |
1 |
Rs.65.47 |
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 SCs 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.