MIRA INFORM REPORT

 

 

Report Date :           

12.10.2011

 

 

IDENTIFICATION DETAILS

 

Name :

FILMTEX SAS

 

 

Registered Office :

Carrera 19 No. 92-65 Bogota

 

 

Country :

Colombia

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1976

 

 

Legal Form :

Sociedad Anonima Simplificada

 

 

Line of Business :

PVC Products Manufacturer

 

 

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 600,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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

 

GEOPOLITICS - COLOMBIA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Low

Currency: 100.00 COP = 0.0516796 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

FILMTEX SAS

 

 

Legal Address

Carrera 19 No. 92-65 Bogota, Colombia

 

 

Telephone:

+57 1 644 9844

NIT :

860049313

Fax:

+57 1 644 9844

Legal Form:

Sociedad Anonima Simplificada

Email:

info@filmtex.com

Registered in:

Colombia

Website:

http://www.filmtex.com/

Date Created:

1976

Manager:

PEDRO ANDRES MEJIA ROZO, Legal Representative

Date Incorporated:

NA

Staff:

130

Stock:

NA

 

 

Value:

NA

Activity:

PVC products manufacturer

 

 

BANKS

 

Name of the Bank

BANCOLOMBIA

 

 

BUSINESS

 

HISTORY

 

The company was created in 1976

PRINCIPAL ACTIVITY

 

Filmtex SA specializes in the processing of PVC resins in high technology, its products are targeted to industry, graphic arts, visual communication and engineering.

 

The firm has the option of printing, sealing, laminating, coating, cutting, and adapt

product to customer requirements.

Sales are:

 

Wholesale

Operations area:

 

National, International

The company export to Venezuela, Chile, Ecuador, Costa Rica, France, and Spain

 

 

 

LOCATION

Headquarters

 

Cra.73 No. 62D-81 Sur, Bogotá

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. It is a subsidiary of GRUPO EMPRESARIAL FILTEX SA.

Management:

 

PEDRO ANDRES MEJIA ROZO, Legal Representative

Vanesa Guillermo, Office Clerck




Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Vanesa Guillermo, Office Clerck, 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

COP

2010

Turnover

67.038.843.000

Operating Income

14.585.171.000

Net Income

4.171.966.000

The cash flow is

NORMAL

 

 

Comments on the financial data: Please find attached a copy of the financial statements of the company.

We have transcribed the main figures for a better approach.

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 medium sized Colombian company, which employs 130 people and has 35 years of experience in the market.

 

The financial data provided show a correct trend of the company´s activities.

 

A credit line may be considered for USD 600,000

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 



 

APPENDIX

 

Person Interviewed

 

Vanesa Guillermo

Position

 

Office Clerck

Comments

 

The person contacted refused to provide any information on ground of confidentiality

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

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.