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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
AMERICAN POWER CONVERSION CORPORATION
(A.P.C.) B.V |
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Registered Office : |
Lot 1 Block 5, Phase II (2nd Street), Philippine Economic Zone
Authority (PEZA), Cavite Economic Processing Zone, Rosario 4106, Cavite |
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Country : |
Philippines |
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Date of Incorporation : |
11.01.2002 |
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Com. Reg. No.: |
A200119166 |
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Legal Form : |
Branch Office (Foreign Corporation) |
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Line of Business : |
Manufacturer, distributor and exporter of uninterrupted power supply (UPS) products such as power converters, emergency power units, surge protectors, automatic/manual battery chargers/automatic emergency lights and automatic line regulators |
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No. of Employees : |
About 1,500 employees |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Philippines |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Company
Name: |
AMERICAN POWER CONVERSION CORPORATION (A.P.C.) B.V |
|
Supplied
Name: |
American
Power Conversion Co. |
|
Trading Address: |
Lot 1
Block 5, Phase II (2nd Street), Philippine Economic Zone Authority (PEZA),
Cavite Economic Processing Zone, Rosario 4106, Cavite, Philippines |
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Supplied
Address: |
Lot
3, Block 4, Phase III C Rosario 4106 Philippines |
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Telephone
Number: |
+63 46
437-1506; 437-0110 TO 13; 437-7272 |
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Fax Number: |
+63
46 437-3280; 437-0112; 437-1864 |
Note:
Subject’s complete exact name and address are shown as above.
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Credit
Opinion: |
Business connections are permissible. |
|
Registered
Number: |
A200119166 |
|
Legal Form: |
Branch Office (Foreign Corporation) |
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Date
Incorporated: |
2002-1-11 |
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Registered
Capital: |
USD 100,000 |
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Listed at Stock
Exchange: |
No |
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Staff: |
About 1,500 |
Note:
Amounts in Philippine Peso unless otherwise
specified.
About 1,500 employees including
administrative, technical and plant personnel (regular and contractual) (per
available report dated February 15, 2012).
Branch Office (Foreign Corporation)
Verification with
the local registry revealed the following correct registration details as of
(July 26, 2012).
|
Regulatory Agency |
Date
Registered |
Registration
No. |
Term |
|
Securities and Exchange Commission |
|
A200119166 |
50 years |
A Philippine
Branch of subject organized and existing under the laws of Amsterdam, The
Netherlands.
Also registered
with the Philippine Economic Zone Authority (PEZA) in May 2002, primarily to manufacture
and export uninterrupted power supply (UPS) products such as power converters,
electronic equipment and parts, and regulators.
Commercial
operation in the Philippines started on August 25, 2003. Effective said date;
subject absorbed the operation, assets, liabilities, and employees of American
Power Conversion (Phils.) Inc., which has stopped operating. In line with the
transfer of operation to subject, the manufacturing plants of American Power
Conversion (Phils.) Inc. were renamed Cav 1, Cav 2, and Cav 3 from Plant 1,
Plant 3, and Plant 4, respectively. On January 2, 2006, the Securities and
Exchange Commission approved the dissolution of American Power Conversion
(Phils.) Inc.
Per company
sources, Schneider Electric of France completed its merger with APC in February
2007. In the Philippines, subject and another Schneider subsidiary – MGE UPS
Systems – have been integrated. Details, however, were not explained at great
length. Also, no SEC have been found yet to support these claims.
Per latest
available General Information Sheet as of January 13, 2012, assigned capital is
USD 100,000.
Affiliates:
American Power Conversion Corporation (A.P.C.C.); A.P.C. Distribution Ltd.; A.P.C. Japan, Inc.; A.P.C. B.V.; A.P.C. Intl. Trade Shanghai; A.P.C. Australia Pvt. Limited; A.P.C. American; A.P.C. Brazil Ltd.; A.P.C. India Pvt. Ltd.; A.P.C. Uruguay; Merlin-Gerin Electronics (MGE); A.P.C. Sales & Services; A.P.C. (Suzhou) UPS Co. Ltd.; A.P.C. Gutor Electronic LLC; A.P.C. Denmark; A.P.C. China (Xiamen).
Information on
shareholders is not available from the subject and other sources.
Management:
|
1 |
|
|
Name: |
TOBOJKA, JAMES A. |
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Position: |
Managing Director |
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2 |
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Name: |
ASISTORES, MYRNA S. |
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Position: |
Financial Controller |
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3 |
|
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Name: |
LIU, PEARL T. |
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Position: |
Resident Agent |
Activities
|
|
Manufacturer,
distributor and exporter of uninterrupted power supply (UPS) products such as
power converters, emergency power units, surge protectors, automatic/manual
battery chargers/automatic emergency lights and automatic line regulators. |
Premises
|
|
Headquarters and
administrative office at captioned address. |
The subject declined to supply their current financial statements. We could not get this information from other source.
No dealings based
on credit exposure report with one million and above dealings under the name
“AMERICAN POWER CONVERSION CORPORATION (A.P.C.) B.V.” as of March 31, 2012.
No negative records (court cases, credit cards cancelled and delinquent accounts) found under the name “AMERICAN POWER CONVERSION CORPORATION (A.P.C.) B.V.” in available database as of July 26, 2012.
Above information
were based on the subject’s 2012 General Information Sheet, the latest
available at the Securities and Exchange Commission and available databases.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.81 |
|
UK Pound |
1 |
Rs.87.67 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.