MIRA INFORM REPORT
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Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SUDESPENSA BARRAGAN SA |
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Formerly Known As : |
SUDESPENSA DE GRANOS BARRAGAN SA. |
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Registered Office : |
Corabastos Bodega 8 Local 2, Bogota DC |
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Financials (as on) : |
31.12.2010 |
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Country : |
Colombia |
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Date of Incorporation : |
18.10.2002 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
Agricultural Product Commercialization |
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 200,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Colombia |
a2 |
a2 |
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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 |
GEOPOLITICS - COLOMBIA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic
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Currency: USD |
IDENTIFICATION
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Legal Name: |
SUDESPENSA BARRAGAN SA |
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Trade Name: |
SU DESPENSA |
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Legal Address |
Corabastos Bodega 8 Local 2, Bogota DC, Colombia |
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Operative Address |
Corabastos Bodega 8 Local 2, Bogota DC, Colombia |
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Telephone: |
+57 (1) 448-2515 / 16 / 20 / 21 |
NIT : |
830111367-5 |
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Fax: |
+57 (1) 448-2055 / 56 / 57 |
Legal Form: |
Sociedad Anonima |
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Email: |
Registered in: |
Colombia |
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Website: |
Date Created: |
NA |
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Manager: |
Hector Uriel Barragan Ramirez, President |
Date Incorporated: |
October 18th 2002 |
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Staff: |
70 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
AGRICULTURAL PRODUCT COMMERCIALIZATION |
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BANKS
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Name of the Bank |
BANCO DE BOGOTA |
BUSINESS
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HISTORY |
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The company has over 30 years of experience. It was first created with the name URIEL BARRAGAN SAAVEDRA and in 2002
the new structure was established. In 2002 the company was formerly incorporated with the name SUDESPENSA
DE GRANOS BARRAGAN SA. On June 2011 the company changed its legal name to
simply SUDESPENSA BARRAGAN SA. |
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PRINCIPAL ACTIVITY |
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The company is involved in the import, production and
commercialization of agricultural and related products. |
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Products/Services description: |
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Lentils Green and Yellows Peas Corn pyre Red and White Kidney Beans Peaches Tuna Canary and Bird Seed Cocktail Black Bean Head White Bean Cargamanto Popcorn Sardines And others... |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry, such as Grandes Superficies de Colombia
SA, among others... |
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Operations area: |
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National, Local |
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The company imports from Canada, USA, Mexico, Bolivia, Peru and
Argentina |
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The company does not export |
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Trade References: |
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The person contacted refused to provide us the names of their
suppliers for us to check trade references. |
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The subject employs 70 employee(s) |
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PAYMENTS |
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To be monitored |
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LOCATION |
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Headquarters |
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The company is headquartered at CORABASTOS BODEGA 8 LOCAL 2, BOGOTA
DC, COLOMBIA. |
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Comments on location: |
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At this location the company operates its main administrative and operative
office, where it counts with warehouse space and packaging operations. |
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Branches: |
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The company would also operate warehouse and packaging operations at a
location at Candelaria Valle. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is privately held and operated by The Barragan Ramirez
Family. |
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Management: |
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Hector Uriel Barragan Ramirez, Legal Representative Humberto Barragan Ramirez, Deputy Legal Representative Jose Antonio Cortes Tocanchon, Financial Comptroller Edna Liliana Ramirez Cuervo, Financial Comptroller Lozano Alfredo, Accountant Board Of Directors Hector Uriel Barragan Ramirez Humberto Barragan Ramirez Lucas Escobar Barragan Yolanda Barragan Ramirez Martha Rebeca Barragan Ramirez Alicia Barragan Ramirez Amparo Barragan Ramirez |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted JOSE ANTONIO CORTES, Financial Comptroller, who
verified the following data gathered through our financial sources. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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COP |
2010 |
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Turnover |
119,097,295,000 |
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Operating Income |
19,532,723,000 |
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Net Income |
3,541,164,000 |
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Current Assets |
70,579,829,000 |
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Fixed Assets |
16,326,158,000 |
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Net worth |
40,688,978,000 |
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Liabilities |
38,462,917,000 |
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The cash flow is |
NORMAL |
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Comments on the financial data: The full financial
statements are attached and the main figures have been translated into the
table above. |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. |
Rating
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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. |
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Final Opinion |
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The subject is a medium sized US company as
it currently has a staff of 70 employees. It was incorporated in 2002, although it
has more than 30 years of experience. SUDESPENSA BARRAGAN SA is a family owned
business. The company is well established and it is
well known and well regarded in the local market. While analyzing the financial data
obtained, we can remark the fact that it has very good income per employee,
profitability correct and the indebtedness is controlled. No evidence of legal or labor antecedents found
against the company in the consulted databases. Credit line may be considered for USD
200,000-. |
SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
TO BE MONITORED |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Jose Antonio Cortes |
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Position |
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Controller |
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Comments |
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We have contacted this person at the company's and he provided us: Legal name Address Phone Financial data Banks Employees President Shareholders |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.89 |
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UK Pound |
1 |
Rs.77.31 |
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Euro |
1 |
Rs.67.79 |
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 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.