MIRA INFORM
REPORT
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Report Date : |
22.03.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
EXPOCSA |
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Registered Office : |
KM 6,5, Solar
12-A, Barrio Marta Bucaran de Roldos, Edif. Maq Henriques, Piso 1 - Guayaquil
Guayas |
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Country : |
Ecuador |
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Date of Incorporation : |
07.12.1988 |
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Legal Form : |
Stock Company |
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Line of Business : |
Import and Export of School Supplies. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 260.000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
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 |
Company Name and address
EXPOCSA
Av Juan Tanca Marengo, a la
altura
Telephone :
593-4-2255251, 593-4-2260240
Fax : 593-4-2255736
E_Mail :
import@expocsa.com
SUMMARY
Started
: 1988
Total
Employees
: 28
Payments
: Prompt
Subscribed Capital :
US$ 100.000.-
Authorized Capital :
US$ 200.000.-
Sic(s) : 5112
Line of Business: import and export of school supplies
Credit Recommendation
Dollars
Conservative value : 260.000
Liberal value : 280.000
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
It is known that sales in 2006 were USD. 2.423.113,21
TRADE REFERENCES (15/03/2011)
Information on suppliers was not obtained
This company is NOT part of the ''White Listing'' of the Internal Revenue
Service (IRS). It means that pending tax obligations should be settled up
in
the next months 3 months
Taxpayer Class: Special
Up to February 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 Expocsa S.A. in the National Financial
System is (A)
Bank
: Banco De La Produccion S.A.
Qualification
: A
To
expire
: US$ 17.116,24
Total debt up to January 2011 is US$ 17.116,24
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2011 was US$ 17.116,24
During 2010 was US$ 9.037,54
Income tax corresponding to the last years:
Year 2009: USD 85.990
Year 2008: USD 46.009
Year 2007: USD 38.893
Year 2006: USD 37.356
BANKS
The main banks are:
- Banco De La Produccion S.A.
- Banco Del Pacifico S.A.
- Banco Pichincha C.A.
OPERATIONS (15/03/2011)
Line of Business : Import and export of School Supplies.
Registered line of business in the Ecuadorian Internal
Revenue Service (SRI) is: OFFICE SUPPLIES WHOLESALE.
Registered social purpose in the Ecuadorian
Superintendencia de Compañías is: Import, purchase,
distribution and marketing of all kind of equipment, spare
parts and accessories applicable to all types of vehicles
Classification according to commercial activity:
Sic: 5112-0000 Stationery and office supplies
Commercializes:
- Staedtler
- Bester
- Avanti
- Fellowes
- BLT
Sales
Sales are steady throughout the year
National sales territory
Customers
Main customers are: Line of business' distributors, companies in general,
industry in general.
Purchases
International purchases only
Imports from
Employees: 28 employees
According to latest report in October 2009 subject had 28 workers. There
is no updated information because they refuse to provide it.
Location
- Administrative offices and sales store are located at. Av Juan Tanca
Marengo,
a la altura
Henriques, Piso 1
Branches (15/03/2011)
Subject does not have any branch
- They confirm having an office in the
in the
RELATED COMPANIES (15/03/2011)
Subject is related to the following companies:
- Maquinarias Henriques C.A. T A X : 0990010870001 Guayaquil Guayas
- Maqhensa Representaciones Sa T A X : 0990752486001
- Insermasa, Instalacion, Servicios Y Mantenimiento S.A. T A X :
0990946329001
INSURANCES
(15/03/2011)
Insurance Company:
-Compañia de Seguros Ecuatoriano-Suiza S.A.
ADMINISTRATION
President
: Werner Josef Gansauer Bittner TAX:0903177418001
General Manager : Patricio German Yepez Russo
TAX:0991207783001
Accountant
: Cristina Jimenez
Secretary
: Adile Cruz
CURRICULUM
Werner Josef Gansauer Bittner
T A X
: 0903177418001
Birth place : Germany
Position : President
Mercantile Register : Number 15372
of 09/08/2005
Simultaneously :
Legally registed in the Ecuadorian Internal Revenue
Service (SRI) to engage in
business as individual
since October 13th 1999.
Registered economic activity is:
owned or
leased real state buy, sale, rent and exploitation such
as:. Apartment buildings, housing, and non-residential buildings and
exploitation of residential mobile homes zone. No registered trade name
He is also registered as General Manager.
Patricio
German Yepez Russo
T A
X
: 0991207783001
Position
: General Manager
Mercantile Register :
Number 4818 of 15/03/2006
Previously
: Was legally registed in the
Ecuadorian Internal Revenue Service (SRI) to engage in business as individual
from March 1st 1992 to September 13th 2006 Registered economic activity
was: radio, television, appliances retail.and household item in general.
Did not have any registered trade name. Current registered status: Definitive
Suspension
LEGAL INFORMATION (15/03/2011)
Legal
Structure :
Stock Company
Constitution date : 07/12/1988
Authorization
: Resolution Nº 5856
Notary
: N° 21,
Term of
duration :
50 Year, ended on 07/12/2038
Legal
Address : Guayquil –
Published
in : Official Gazette dated 10/12/1988
Current Subscribed
Capital: US$ 100.000.-
Authorized Current
Capital: US$ 200.000.-
Subscribed Initial
Capital: US$ 80.-
Paid-in Initial Capital:
US$ 20.-
Legal representation is
held by General Manager President and.
Legal changes By Resolution
Nº 3815 on 21/05/2009, notary N° 21, Guayaquil Guayas, published
in the Official Gazette dated 27/06/2009, last capital increase was performed
by
USD 98.000,00
Registered trade name: Expocsa
It is known that major
shareholders are: Mr. Patricio German Yepez Russo and Mr. Werner Josef Gansauer
Bittner
INFORMATION SOURCES
On 15/03/2011 Miss. Adile Cruz, Secretary, confirmed general information.
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
INTERPRETATION OF RISK LEVEL AND CREDIT RECOMMENDATION
RISK LEVEL
Credit risk assessment is ordered as follows: 1 Minimum Risk, 2 Low Risk, 3
Middle Risk, 4 Middle High Risk, 5 Significant Risk, 6 High Risk.
CREDIT RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually used
in the commercial credit evaluation.
The amounts are based on the assignment of risk percentages to the
following indicators: Trade references,
number of employees, legal structures, data base of protested bills,
operations, insurances, variation of net profit, net worth, working capital and
liquidity.
Macroeconomic Information
Interest Rate for the week of 01/02/2011 - 28/02/2011
Ref. Active Rate for Operations ( % ) 8,25
Ref. Passive Rate for Operations ( % ) 4,51
Basic Rate of Central Bank ( % )
Legal ( % ) 8,25
Maximum conventional ( % ) 9,33
Inflation
Ratio
Monthly Inflation ( % ) 0,51 Dec/2009
Accumulated ( % ) 3,33 Dec/2009
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.05 |
|
|
1 |
Rs.73.05 |
|
Euro |
1 |
Rs.63.81 |
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 |
|
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 Company |
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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.