MIRA INFORM REPORT

 

 

Report Date :           

18.06.2011

 

IDENTIFICATION DETAILS

 

Name :

BUSINESS PEOPLE UNLIMITED & CIA SC A

 

 

Registered Office :

Calle 109 No. 15-17 Local 2, Bogota

 

 

Country :

Colombia

 

 

Year of Establishment :

1994

 

 

Legal Form :

Sociedad Comandita Por Acciones

 

 

Line of Business :

Glasware Trading

 

 

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 :

Usually Correct

 

 

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)

Colombia

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

GEOPOLITICS - COLOMBIA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Low

Currency: 100.00 COP  =  0.0557264 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Business People Unlimited & CIA SC A

Address in the order:

Calle 109 No. 15-17 Local 2, Bogota, Colombia

 

 

Legal Name:

BUSINESS PEOPLE UNLIMITED & CIA SC A

 

 

Legal Address

Calle 109 No. 15-17 Local 2, Bogota, Colombia

 

 

Telephone:

(571) 214-3621 / (571) 637-8023

NIT :

8300008440

Fax:

(571) 612-2817

Legal Form:

Sociedad Comandita por Acciones

Email:

asistente.gerencia@bpu.com.co

Registered in:

Colombia

Website:

http://www.bpu.com.co

Date Created:

1994

Manager:

Alejandra Cardoso, Manager Assistant

Date Incorporated:

NA

Staff:

Less than 50 people

Stock:

NA

 

 

Value:

NA

Activity:

Glasware trading

 

 

BANKS

 

Name of the Bank

BANCOLOMBIA

 

 

BUSINESS

 

HISTORY

 

The company was created in 1994

PRINCIPAL ACTIVITY

 

Glassware trading

Products/Services description:

 

The company buys from the origin factories every king of china, and then offers the products in the Colombian Market.

Sales are:

 

Wholesale

Brands:

 

Libbey Glassware

Crisa

Durobor

Dankotuwa

Spiegelau

Clients:

 

Institutional: hotels, government, restaurants

Operations area:

 

National

The company imports from USA, Mexico, Germany, Sri Lanka

The subject employs Less than 50 people employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

Calle 109 No. 15-17 Local 2, Bogota, Colombia

Comments on location:

 

Headquarters and operative location

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is privately held. Despite our long searches, we could not identify the shareholders and the person contacted refused to provide that information on grounds of confidentiality

Management:

 

Alejandra Cardoso, Manager Assistant

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Alejandra Cardoso, Manager Assistant, who refused to provide us any financial data without knowing the name of the inquiring party.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

 

Currency

DATE

USD

2010

Turnover

3.091.025.000

Operating Income

625.357.000

Net Income

264.219.000

The cash flow is

NORMAL

 

 

Currency

DATE

COP

2009

Turnover

3,287,174,000

Operating Income

575,505,000

Net Income

181,254,000

 


Comments on the financial data: Please find attached a copy of the Financial Statemnts of the company in Colombian Pesos (in thousands)

For a better approach, we have transcribe the main financial figures into the chart.

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 is a small sized Colombian company, which employs less than 50 people and has 16 years of experience in the market.

 

The financial data provided show a correct commercial behaviour.

 

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

 

Person Interviewed

 

Alejandra Cardoso

Position

 

Manager Assistant

Comments

 

The person contacted provided us partial information on the comapny.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.43

Euro

1

Rs.63.62

 

 

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 Business

----

 

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.