|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
OTERO Y DOMINGUEZ LTDA. |
|
|
|
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Registered Office : |
Avda. Diez de Julio 202, Santiago, XIII Region Metropolitana , Postal Code 8330578 |
|
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Country : |
Chile |
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|
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Date of Incorporation : |
17.06.1982. |
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Com. Reg. No.: |
10.704 N°6053 of Santiago |
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|
|
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Legal Form : |
Limited Liability Partnership |
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|
|
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Line of Business : |
Distribution of tools and steel. |
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No. of Employees : |
200 |
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 |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
OTERO
Y DOMINGUEZ LTDA.
Avda. Diez de Julio 202
Santiago
XIII Region Metropolitana
Postal Code : 8330578
CHILE
Telephone :
56-2-8896000, 56-2-8896544
Fax : 56-2-6352882
E_Mail :
aceros@acerosotero.cl , lvillagra@empresasotero.cl
Web Site : www.empresasotero.cl , www.acerosotero.cl
SUMMARY
Started
: 1982
Total Employees : 200
Payments
: Prompt
Sales
: 000's$ 29.962.908.-
Capital
: 000's$ 1.496.784.-
Sic(s) : 5072 - 5074
Line of Business: Distribution of tools and steel.
EVALUATION
Interpretation at the end of the report.
If additional information is received or present information is rectified, this recommendation may be modified.
Financial indicators
ASSESSMENT
COMMERCIAL INFORMATION
Commercial Bulletin : As at 27/07/2012 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information bulletin
Labor Bulletin : As at 27/07/2012 does not register labor
infringements
Previsional Bulletin : As
at 27/07/2012 does not register pension fund's
infringements
Consolidated delinquency : As at 27/07/2012, subject does not register any delinquent bill
TRADE
REFERENCES
Suppliers' trade references are supplied as follows:
Detail of References
Old : Since
2000
Last purchase : 06-2012
Terms : 30 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 1.000
Owes : -
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 800
Old : Since
1999
Last purchase : 06-2012
Terms : 30-45 days
Payment : Prompt
Notes : current account
Credit : (000'sUS$) 3.000
Owes : (000'sUS$)
1.200
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 1.500
Old : Since
1999
Last purchase : 06-2012
Terms : 30 days
Payment : Prompt
Notes : checks
Credit : -
Owes : -
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 2.000
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
-
Prompt order
form
- None
Since 1999 08-10 Prompt
checks
254.000 None
Since 1990 08-09 Prompt
credit
10.000 None
Since 2000 09-10 Prompt
invoice
1.000 None
Since 1999 08-10 Prompt current
account
Open None
Since 1999 08-10 Prompt
checks
50.000 None
Since 1999 02-10 Prompt
checks
50.000 None
Since 1999 02-10 Prompt current
account
Open None
Since 2000 02-10 Prompt
invoice
500 None
Since 1999 05-09 Prompt current
account
Open None
Since 1999 04-09 Prompt
checks
- None
Since 2000 04-09 Prompt
invoice
500 None
Since 1999 09-08 Prompt
checks
-
-
Since 1999 09-08 Prompt current
account
Open
-
Since 2002
Prompt
checks
Open None
Since 2002 03-08 Prompt
checks
Open
-
Since 1999 02-08 Prompt current
account
Open
-
Since 2004 09-08 Prompt current
account
2.000
250
Since 1999 02-08 Prompt
checks
-
-
Since 2004 08-07 Cash
checks
-
-
8 years 08-07 Prompt
checks
-
-
8 years 08-07 Prompt
current
account
Open
-
3 years 08-07
Cash
checks
-
-
5 years 08-07 Prompt
checks
Open
-
3 years 08-04
Cash checks
- None
8 years 10-06 Prompt
checks
-
-
Since 2004 10-06 Cash
checks
-
-
8 years 10-06 Prompt
current account
Open
-
5 years 10-06 Prompt
checks
Open
-
8 years 09-05 Prompt
current
account
Open
-
Since 2004 03-05 Cash
checks
- None
7 years 09-05 Prompt
checks
-
-
1 year 08-04
Cash
checks
- None
5 years 09-05 Prompt
checks
Open
-
5 years 01-05 Prompt
checks
Open
-
5 years 01-05 Prompt
checks
Open
-
7 years 01-05 Prompt not
specified
-
-
8 years 01-05 Prompt
checks
-
-
10 years 01-05 Prompt
checks
Open
-
10 years 06-04 Prompt
checks
Open
-
5 years 06-04 Prompt
checks
10.000
-
5 years 06-04 Prompt
checks
Open
-
Operates with different credit conditions. Old customer.
During the last 6 months, its credit history shows 119 credit review inquiries
requested by banks, telecommunications companies, insurance companies, hardware
stores, credit reporting agencies, industries and businesses in general.
The account holder credit report reflects no delinquent payment history, no
protests, and no social security and/or work infringements as of
the date of
this report.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following banks:
- Banco de Chile, branch Seminario
- Banco de Credito e Inversiones, branch Diez de Julio
- Banco Security, main office Av. Apoquindo 3150, Las Condes
OPERATIONS
Line of Business : Distributors of steel and tools. Coromat, Proto,
stainless &
carbon steel, pipelines, tubes, fittings, plates, wires,
bolts, laminated & phosphoric bronze.
COMPANY WITH CERTIFICATION ISO 9001: 2008
Classification according to commercial activity:
Sic: 5072-0000 Hardware
Sic: 5074-0000 Plumbing and hydronic heating supplies
Commercializes:
- ENERPAC
- MILLER
- TELWIN
- INFRA
- HARRIS
- FACOM
- STAMLEY
- COROMANT
- SCHULZ
- BINZEL
Subject is considered as a large company in this line of business, normal
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 99%.
Sales conditions: Cash. term payments to 30 & 60 days with checks.
International: 1%.
Sales conditions: Credit
Exports to Peru.
Records of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Peru
100,00 0,00
Historical registries
Total 2011 = 000's$ 17.635
Total 2010 = 000's$ 63.426
Total 2009 = 000's$ 20.594
Total 2008 = 000's$ 89.240
Total 2007 = 000's$ 28.729
Total 2006 = 000's$ 27.856
Total 2005 = 000's$ 25.800
Total 2004 = 000's$ 5.215
Total 2003 = 000's$ 4.777
Customers
Main customers are: Line of business' distributors, hardware store,
forest
industry, mining companies, automobile companies, fishing
companies, etc..
Purchases
Places orders with multiple suppliers
National: 20%
Purchase conditions: 10% cash and 90% term payments to 30 & 60 days
with
invoices.
International: 80%
Purchase conditions: Letter of credit.
Imports from Germany, Argentina, Brazil, Canada, China, South Korea, Spain,
Finland, France, Netherlands, Hong Kong, India, England, Italy, Peru, Portugal,
Romania, Sweden, Switzerland, Taiwan and United States.
Records of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
China
50,28 0,00
Spain
15,09 0,00
United
States
9,40 0,00
Brazil
7,57 0,00
Germany
4,97 0,00
Peru
2,61 0,00
India
2,39 0,00
Argentina
2,00 0,00
France
1,65 0,00
Italy
0,78 0,00
South
Korea
0,76 0,00
Portugal
0,75 0,00
Taiwan
0,55 0,00
Finland
0,50 0,00
Romania
0,22 0,00
Hong
Kong
0,21 0,00
Switzerland
0,10 0,00
Sweden
0,06 0,00
Canada
0,05 0,00
England
0,05 0,00
Netherlands
0,02 0,00
Historical
registries
Total 2011 = 000's$ 12.309.919
Total 2010 = 000's$ 16.911.872
Total 2009 = 000's$ 6.382.467
Total 2008 = 000's$ 31.358.564
Total 2007 = 000's$ 12.629.761
Total 2006 = 000's$ 9.073.641
Total 2005 = 000's$ 4.774.467
Total 2004 = 000's$ 6.060.118
Total 2003 = 000's$ 3.527.197
Main suppliers (01/08/2012)
- Acerinox Chile S.A.
- Cap S.A.
- Indura S.A.
- Industrias Ceresita S.A.
- Industrias Metalurgicas Limet Ltda.
- Industrias Metalurgicas Sorena S.A.
- Kupfer Hnos. S.A.
- M y H Comercial e Industrial Ltda.
- Petricio S.A., Francisco
- Sandvik Chile S.A.
- Sherwin Williams Chile S.A.
Employees: 200 employees
Location
- Head House and sales room at Avda. Diez de Julio 202 Santiago, Chile,
commercial area, main avenue of busy traffic, construction in good
conditions
Branches
- Industrial sales at Fray Camilo Henríquez 781 Santiago Chile
- Sales room at Pedro Aguirre Cerda 7277 Antofagasta Chile
- Sales room at Traslaviña 1516 Santiago Chile
- Sales room at Paicavi 2677 Concepción Chile
- Sales room at Avda. Quillota 636 Viña del Mar Chile
- Sales room at Ruta 5 Sur 552, Camino a Pargua, Puerto Montt Chile
- Distribution and administration at Panamericana Norte 6080 Quilicura
Santiago
Chile
- Warehouses at San Ignacio 071 Quilicura Santiago Chile
RELATED COMPANIES
Subject is related to the following companies:
- Sociedad Comercial Serviper Herramientas Limitada T A X
78284500-4 Santiago
- Soc. Inmobiliaria de Rentas e Inversiones Otero y Dominguez Ltda. T A X
78413660-4 Santiago
- Otero F. y Cia. Ltda., Patricio T A X 80706200-K Santiago
FIXED ASSETS
Real estates
Subject registers real estates valued at
- Building, Portugal 772-774 Santiago-Chile, Fiscal value of 000's$
123.263.-,
rol Nº 2775-20
- Building, San Camilo 781 Santiago-Chile, Fiscal value of 000's$
45.190.-, rol
Nº 2775-2
Total fiscal appraisal $ 168.452.370.-
Vehicles
Owns vehicles for the company's use
12 trucks .
Machinery & Instalations
Own equipment
INSURANCES
Insurance Company:
-Mapfre Cia. de Seguros Generales de Chile S.A.
Due
: Unspecified due dates
In force : Annual
Risks :
Various risks.
Objetive : Others.
-Liberty Cia. de Seguros Generales S.A.
Due
: Unspecified due dates
In force : Annual
Risks : Fire
& robbery.
Objetive : All assets.
ADMINISTRATION
Corporate General : Patricio Raimundo
Otero Francia TAX:4337664-0
Manager
General Manager :
Fernando Otero Dominguez
Adm. & Finances Manager : Gerardo Pérez Cereceda
Personnel Assistant : Isabel Recabarren
Commercial Manager : German Guerrero
Head of Administration : Carolina Quiroz
General
Accountant-in-chief : Cristian Leiva
LEGAL INFORMATION
Legal Structure : Limited Liability Partnership
Constitution date : 17/06/1982. Registered on leaf 10.704
N°6053 of Santiago
Trade Registry, year 1982, under the business name
"PATRICIO OTERO Y MARIA ELENA DOMINGUEZ Y CIA LTDA."
(They changed business name to the present one as per
the official gazette, on May 28, 1985 page 13).
Notary
: Ana María Sepúlveda Fuentes, Santiago
Term of duration : 10 Year renewable in five-year
periods
Legal Address : Santiago - Chile
Published in : Official Gazette
dated 28/06/1982 page Nº 7
Current Social Capital: 000's$ 1.496.784.-
Partner : 7
- 49,28% Soc. Inmobiliaria y de Rentas Otero y Dominguez Ltda.
- 15,98% Inversiones Ombu Limitada
- 11,13% Sociedad de Inversiones Las Violetas Limitada
- 11,13% Sociedad de Inversiones Los Molinos Limitada
- 11,13% Sociedad de Inversiones Las Dalias Limitada
- 0,67% 6377387-5 María Elena Domínguez Necochea
Power of attorney held by.
Legal changes
Public Deed dated 31/12/1990, notary Humberto Quezada Moreno, Santiago,
published in the Official Gazette dated 22/01/1991 page N° 22, capital was
increased: from $1.500.000 to $450.000.000.-
Public Deed dated 26/05/1993, notary Nancy de la Fuente Hernández, Santiago,
published in the Official Gazette dated 12/07/1993 page N° 24, partners were
modified: Patricio Raimundo Otero Francia owner of 50% and María Elena
Domínguez
Necochea owner of the other 50% of rights, sold & transferred 49% each one
of
them, to Sociedad Inmobiliaria de Rentas é Inversiones Otero y Domínguez Ltda.,
which joined the partnership with 98%.
Consequently, partners are: Patricio Raimundo Otero Francia with 1%, María
Elena Domínguez Necochea with 1% and "Sociedad Inmobiliaria de Rentas e
Inversiones Otero y Domínguez Ltda." with 98% of participation.
Public Deed dated 29/11/1993, notary Nancy de la Fuente Hernández, Santiago,
published in the Official Gazette dated 20/12/1993 page N° 30, statutes were
modified: new text is registered, partnership remains as indicated. Besides,
partners were modified: it is invalidate public deed dated May 26, 1993, before
Notary Nancy de la Fuente Hernández, of Santiago and a new text is fixed as
follows: Patricio Raimundo Otero Francia owner of 50% of rights, sold &
tranferred 49% of his rights to "Sociedad Inmobiliaria de Rentas e
Inversiones
Otero y Domínguez Ltda.".- María Elena Dominguez Necochea owner of
50% of
rights, sold & transferred 49% of her participation to "Sociedad
Inmobiliaria de
Rentas e Inversiones Otero y Domínguez Ltda."
Consequently, "Sociedad Inmobiliaria de Rentas e Inversiones Otero y Domínguez
Ltda." joined the partnership with 98% of participation, María Elena
Dominguez
Necochea owns 1% and Patricio Raimundo Otero Francia owns 1% of rights.
Public Deed dated 13/09/2007, notary Raúl Iván Perry Pefaur, Santiago,
published
in the Official Gazette dated 10/10/2007 page N° 30, partners were modified:
Sociedad Inmobiliaria, de Rentas e Inversiones Otero y Domínguez Ltda., owner
of
the 98%, sold, ceded and transferred a 24% of rights to Sociedad Inmobiliaria
de
Rentas e Inversiones Gaspar Ltda., which joined the partnership.
Consequently, capital of $450.000.000.- is completed by Patricio Raimundo
Otero Francia $ 4.500.000.- (1%), María Elena Domínguez Necochea $ 4.500.000
(1%), Sociedad Inmobiliaria, de Rentas e Inversiones Otero y Domínguez Ltda.
$333.000.000 (74%) and Sociedad Inmobiliaria, de Rentas e Inversiones
Gaspar
Ltda. $108.000.000 (24%).-
Other stipulations in extracted deed.
Public Deed dated 29/10/2008, notary Raúl Iván Perry Pefaur,
Santiago, published
in the Official Gazette dated 11/11/2008 page N° 24, statutes were modified: it
was registered that as a result of the acquisition of de Inversiones Ombú
Limitada of the 100% of rights in Sociedad Inmobiliaria, de Rentas, e
Inversiones Gaspar Limitada, which has been consequently dissolved, only
partners of "Otero y Domínguez Limitada" (subject) are : Sociedad
Inmobiliaria,
de Rentas e Inversiones Otero y Domínguez Limitada 74%, Inversiones Ombú
Limitada 24%, Patricio Raimundo Otero Francia 1% and María Elena
Domínguez
Necochea 1%.-
Public Deed dated 27/10/2011, notary Suplente Verónica Torrealba Costabal de
Iván Torrealba A., Santiago, published in the Official Gazette dated
14/12/2011,
capital was increased: from $450.000.000.- to $996.784.273 through the
capitalization of the own equity revaluation fund, which amounts to
$546.784.273.-
At the same time, capitalized capital is increased from $996.784.273 to
$1.496.784.271.- It was agreed that the increase of $ 499.999.998 will be
subscribed and paid within a period of three years in one-third
proportion each
of the following companies: "Sociedad de Inversiones Las Dalias
Limitada",
"Sociedad de Inversiones Los Molinos Limitada" and "Sociedad de
Inversiones Las
Violetas Limitada", which joined as new partners.
Consequently, capital of $ 1.496.784.271.- is completed by "Sociedad
Inmobiliaria de Rentas e Inversiones Otero y Domínguez Limitada" $
737.620.362.-
(49,28%), "Inversiones Ombú Limitada" $ 239.228.226 (15,98%),
"Sociedad de
Inversiones Las Dalias Limitada" $ 166.666.666 (11,13%), "Sociedad de
Inversines
Las Violetas Limitada" $1.666.666 (11,13%), "Sociedad de Inversiones
Los Molinos
Limitada" $ 1.666.666 (11,13%), María Elena Domínguez Necochea $9.967.843
(0,67%) and Patricio Raimundo Otero Francia $9.967.843 (0,67%), one cash
payment.
INFORMATION SOURCES
On 31/07/2012 Mr. Carolina Quiroz, Head of Administration General,
submitted
just general information.
-Other outside information sources.
Exchange rate
-As at 03/08/2012 $484,60 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
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 |
|
---- |
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.