MIRA INFORM REPORT

 

 

 

 

Report Date :           

30.11.2011

 

IDENTIFICATION DETAILS

 

Name :

GALEXO S.A.

 

 

Registered Office :

Buenos Aires 484, Dpto. 10, Montevideo

 

 

Country :

Uruguay

 

 

Date of Incorporation :

22.06.2004

 

 

Com. Reg. No.:

Entry  5140

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

wholesale of agricultural products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Uruguay

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

GALEXO S.A.

TAXPAYER REGISTRATION

RUT 21-499598001-5

MAIN ADDRESS

Buenos Aires 484, Dpto. 10

CITY / PROVINCE

Montevideo

DEPARTAMENT / STATE

Montevideo

COUNTRY

URUGUAY

TELEPHONE

(5982) 9172013

E-MAIL

info@jpdamiani.com

COMMENTS

 
This report supersedes our report sent on 25/10/2011 (Contains further information about the line of business; result of our request for financials, name of foreign suppliers and the bank that works with the investigated company).

 

 

SUMMARY

 

Date of foundation

2004

permanent employees

4

Chief Executive

VEIGA DOBRICH, GUSTAVO ANGEL

Disposition

(They) refused to give information (only confirmed some data).

Payments policy

Without rating (No payment experience traced)

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

DATE OF INCORPORATION

22JUN2004

DURATION

100 years

REGISTRATION

Entry 5140

INITIAL CAPITAL

US$15,000.= Dollars

LISTED AT STOCK EXCHANGE

No

SHARE VALUE

US$1.= Dollar

CURRENT EXCHANGE RATE (US$)

Ps$19.80 per 1.00 USADollar

COMMENTS

 
Our recent investigations showed that GALEXO S.A. has Annual Certificate of Good Standing enabled from 27/10/2011.

 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

VEIGA DOBRICH, GUSTAVO ANGEL

President

 

12/10/10

 

 

WHO IS WHO?

 

VEIGA DOBRICH, GUSTAVO ANGEL

NATIONALITY

Uruguayan

ID

IDE 1.385.581-4

SEX

Male

 

BUSINESS

 

Main activity

 
As investigated, the company would be engaged in wholesale of agricultural products.

Import

Yes

Country

Algeria, Italy, United Kingdom

Export

No

EMPLOYEES

4

 

Location

OTHER PREMISES

 
The investigated company has set its tax domicile in the Offices of Consultores y Administradores de Empresas SRL (Estudio Damiani)
 
Business premises:  Buenos Aires 484, Apto. 10  - Montevideo
 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Ines Salgado

Position(s)

Contact

Disposition

(They) refused to give information (only confirmed some data).

Information provided

 
Initially we attended the tax domicile of GALEXO S.A. in   Calle Buenos Aires 484,  which belongs to the firm ESTUDIO DAMIANI, where we were confirmed that they are in charge of accounting of the company investigated.
 
In ESTUDIO DAMIANI, Mr. Danilo Manice said that he was willing to supply the information requested, after the owners of the subject company authorized it. Mr. Danilo Manice said he had sent them our request for information  and was awaiting a response. 
 
 
AFTER SEVERAL DAYS OF INSISTENT REQUIREMENTS, Ms. Inés Salgado finaly provided some general information about the company investigated and told us that Mr. Danilo Manice of the ESTUDIO DAMIANI needed to verify some details of the company and expand other . However, until today we have not received any update back from him.
 
It should be noted that some of the data in this report was obtained from public sources. Despite the efforts we were unable to get any financial data by indirect sources.

 

 

FINANCIAL SITUATION

 
UNDETERMINED
 
We consider the Financial Situation of the company as Undetermined because of not having financial data that allow an analysis of their results. Besides, trade references could not be obtained to evaluate its payment performance.

Insurance Comments

 
It was not possible to gain access into that kind of information.

 

PAYMENTS RECORD: TRADE REFERENCES

(Confidential Information)

Supplier

Telephone

Country

Comment

Eurl Dey Food Import Export

 

ARGELIA

 

Acos SpA

 

ITALY

 

Wareserve Limited

 

UNITED KINGDOM

 

 

CREDIT HISTORY

No details could be learnt regarding Subject Company's suppliers, thus lack data to establish its payment performance/ credit worthiness.

 

 

BANKING INFORMATION

 

Bank

STANDARD CHARTERED BANK (N.Y).

 

 

 

 

GENERAL INFORMATION

 

REPUTATION

 

NOTHING AGAINST COMPANY

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.93

UK Pound

1

Rs.80.62

Euro

1

Rs.69.37

 

 

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.