|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
JOCANIMA CORPORATION |
|
|
|
|
Registered Office : |
42 Mahogany Road, Pilar Village,
Las Piñas City 1740 |
|
|
|
|
Country : |
Philippines |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.07.2001 |
|
|
|
|
Com. Reg. No.: |
A200110960 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Importer and distributor
of agricultural products |
|
|
|
|
No. of Employees : |
About 70 sales and
administrative personnel (per available report dated August 10, 2012) |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Philippines |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Phillipines - ECONOMIC OVERVIEW
Philippine GDP grew 7.6% in 2010, spurred by consumer demand, a rebound in exports and investments, and election-related spending, before cooling to 3.7% in 2011. The economy weathered the 2008-09 global recession better than its regional peers due to minimal exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a growing business process outsourcing industry. Economic growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration (January 2001 - June 2010). Despite this growth, however, poverty worsened during her presidency. The AQUINO administration is working to reduce the government deficit from 3.9% of GDP, when it took office, to 2% of GDP by 2013. The government has had little difficulty issuing debt, both locally and internationally, to finance the deficits. The AQUINO Administration reduced public debt to below 50% of GDP and obtained several ratings upgrades on sovereign debt so that the Philippines is now close to investment grade. However, the lack of government spending, especially on infrastructure, was one of several factors which slowed GDP growth in the second half of 2011, leading the government to announce a stimulus effort and increased public spending on infrastructure in 2012. AQUINO's first budget emphasized education, health, conditional cash transfers for the poor, and other social spending programs, relying mostly on the private sector to finance important infrastructure projects. Weak tax collection, exacerbated by new tax breaks and incentives, has limited the government's ability to address major challenges. The AQUINO administration has vowed to focus on improving tax collection efficiency, rather than imposing new taxes, as a part of its good governance platform. The economy still faces several long-term challenges, including reliance on energy imports and foreign demand for overseas Filipino
Source
cia
|
Company
Name: |
JOCANIMA CORPORATION |
|
Supplied
Name: |
JOCANIMA CORPORATION |
|
Trading Address: |
42 Mahogany Road, Pilar Village, Las Piñas City
1740, Philippines |
|
Supplied
Address: |
#42 Mahogany Road Pilar Village Las Pinas City, Metro
Manila 1750 Philippines |
|
Telephone
Number: |
+63 2 800-6237; 852-6559 AND 66; 800-8087 |
|
Fax Number: |
+63 2 800-6238 |
Note:
Subject’s accurate
address is as above.
|
Company
Name: |
JOCANIMA CORPORATION |
|
Registered
Number: |
A200110960 |
|
Legal Form: |
Corporation |
|
Date
Incorporated: |
|
|
Authorized
Capital Stock: |
PHP 2,000,000.00 |
|
Subscribed
Capital Stock: |
PHP 2,000,000.00 |
|
Paid-up Capital: |
PHP 2,000,000.00 |
|
Par Value Per
Share: |
PHP 100.00 |
|
Listed at Stock
Exchange: |
No |
|
Staff: |
About 70 sales and administrative personnel (per
available report dated August 10, 2012) |
Note:
Amounts in Philippine Peso unless otherwise
specified.
CORPORATION
Verification with the local registry revealed the following correct registration details as of (December 12, 2012).
Company
Background
|
Regulatory Agency |
Date Registered |
Registration No. |
Term |
|
Securities and Exchange Commission |
|
A200110960 |
50 years |
|
|
Amount (as of date 03/30/2012) |
|
Authorized Capital |
2,000,000.00 |
|
Paid Up Capital |
2,000,000.00 |
|
Subscribed Capital |
2,000,000.00 |
|
Par Value |
100.00 |
Capital structure per latest available General Information Sheet.
Affiliates:
JCE Management & Investment Corporation;
Enviro-Cropvet Products, Inc.;
Longscore Agri-Products Corp.
Stockholders (
|
1 |
|
|
Name: |
EVANGELISTA, CELSO L. |
|
Amount Subscribed: |
PHP 300,000.00 |
|
Amount Paid-up: |
PHP 300,000.00 |
|
Nationality: |
Filipino |
|
2 |
|
|
Name: |
EVANGELISTA, JOSEFINA M. |
|
Amount Subscribed: |
PHP 300,000.00 |
|
Amount Paid-up: |
PHP 300,000.00 |
|
Nationality: |
Filipino |
|
3 |
|
|
Name: |
BODESTYNE, JOCELLE ANNE E. |
|
Amount Subscribed: |
PHP 100,000.00 |
|
Amount Paid-up: |
PHP 100,000.00 |
|
Nationality: |
Filipino |
|
4 |
|
|
Name: |
WITHALL, CAMILLE E. |
|
Amount Subscribed: |
PHP 100,000.00 |
|
Amount Paid-up: |
PHP 100,000.00 |
|
Nationality: |
Filipino |
|
5 |
|
|
Name: |
EVANGELISTA, NINA MARIA M. |
|
Amount Subscribed: |
PHP 100,000.00 |
|
Amount Paid-up: |
PHP 100,000.00 |
|
Nationality: |
Filipino |
|
6 |
|
|
Name: |
EVANGELISTA, MARIANNE JOYCE M. |
|
Amount Subscribed: |
PHP 100,000.00 |
|
Amount Paid-up: |
PHP 100,000.00 |
|
Nationality: |
Filipino |
|
7 |
|
|
Name: |
JCE MANAGEMENT & INVESTMENT CORPORATION |
|
Amount Subscribed: |
PHP 1,000,000.00 |
|
Amount Paid-up: |
PHP 1,000,000.00 |
|
Nationality: |
Filipino |
List of stockholders and their shareholdings per latest
available General Information Sheet
Management:
|
Name: |
Position: |
|
EVANGELISTA, CELSO L. No. 55 Mahogany Road, Pilar Village, Las Piñas City |
Chairman / President |
|
EVANGELISTA, JOSEFINA M. No. 55 Mahogany Road, Pilar Village, Las Piñas City |
Treasurer / Corporate Secretary/ Director |
|
BODESTYNE, JOCELLE ANNE E. No. 55 Mahogany Road, Pilar Village, Las Piñas City |
Director |
|
WITHALL, CAMILLE E. No. 55 Mahogany Road, Pilar Village, Las Piñas City |
Director |
|
EVANGELISTA, NINA MARIA M. No. 55 Mahogany Road, Pilar Village, Las Piñas City |
Director |
|
EVANGELISTA, MARIANNE JOYCE M. No. 55 Mahogany Road, Pilar Village, Las Piñas City |
Director |
List of officers per latest available General Information Sheet
Activities
|
|
Importer and
distributor of agricultural products. |
Premises
|
|
Location:
Located at above address. |
Unit: PHP
|
Balance Sheet |
2011.12.31 |
2010.12.31 |
|
TotalCurrentAssets |
118,551,581.59 |
85,269,347.01 |
|
Cash |
12,698,116.91 |
1,666,375.39 |
|
ShortInvest |
0.00 |
0.00 |
|
Receivable |
38,810,026.08 |
24,694,239.23 |
|
Inventory |
53,242,630.00 |
46,274,937.47 |
|
OtherCurrentAssets |
13,800,808.60 |
12,633,794.92 |
|
LongInvestTotal |
0.00 |
0.00 |
|
LongInvestSecurity |
0.00 |
0.00 |
|
LongInvestEquity |
0.00 |
0.00 |
|
LongInvestOther |
0.00 |
0.00 |
|
FixedAssetsTotal |
15,392,048.92 |
16,501,882.24 |
|
FixedAssets |
15,392,048.92 |
16,501,882.24 |
|
DepreciationTotal |
0.00 |
0.00 |
|
IntangibleAssets |
857,063.31 |
1,285,594.96 |
|
OtherAssets |
8,839,999.62 |
0.00 |
|
TotalAssets |
143,640,693.44 |
103,056,824.21 |
|
TotalCurrentDebt |
101,311,289.91 |
64,954,482.69 |
|
ShortLoan |
38,395,143.06 |
9,395,386.20 |
|
AccountsPayable |
60,290,332.69 |
53,230,777.78 |
|
OtherCurrentLiability |
2,625,814.16 |
2,328,318.71 |
|
LongLiabilityTotal |
21,873,915.47 |
23,212,868.00 |
|
LongLeases |
0.00 |
0.00 |
|
LongLoan |
0.00 |
0.00 |
|
LongLoanOther |
0.00 |
0.00 |
|
TotalLiability |
123,185,205.38 |
88,167,350.69 |
|
TotalEquity |
20,455,488.06 |
14,889,473.52 |
|
ShareCapital |
2,000,000.00 |
2,000,000.00 |
|
CapitalPaid |
0.00 |
0.00 |
|
LegalReserve |
0.00 |
0.00 |
|
SurplusReserve |
0.00 |
0.00 |
|
UndistributedProfit |
0.00 |
0.00 |
|
RetainedEarning |
18,455,488.06 |
12,889,473.52 |
|
OtherEquity |
0.00 |
0.00 |
|
TotalLiabilityAndEquity |
143,640,693.44 |
103,056,824.21 |
Unit: PHP
|
|
2011 |
2010 |
|
OperatingRevenue |
0.00 |
0.00 |
|
SalesRevenue |
246,259,574.83 |
211,859,390.67 |
|
InterestRevenue |
0.00 |
0.00 |
|
OtherRevenue |
43,965.99 |
102,273.15 |
|
TotalRevenue |
246,303,540.82 |
211,961,663.82 |
|
SalesCost |
155,963,742.54 |
150,521,516.46 |
|
GrossProfit |
90,295,832.29 |
61,337,874.21 |
|
SalesExpenses |
0.00 |
0.00 |
|
ManagementExpenses |
80,790,611.10 |
53,381,874.40 |
|
FinancialExpenses |
1,693,281.27 |
1,000,954.04 |
|
TotalExpenses |
238,447,634.91 |
204,904,344.90 |
|
OperatingProfit |
7,855,905.91 |
7,057,318.92 |
|
NonOperatingProfit |
0.00 |
0.00 |
|
ProfitBeforeTax |
7,855,905.91 |
7,057,318.92 |
|
Tax |
2,347,934.61 |
2,109,195.66 |
|
NetProfit |
5,507,971.30 |
4,948,123.26 |
|
|
2011 |
2010 |
|
OperatingNetCash |
-2,147,798.05 |
-4,965,701.10 |
|
InvestmentNetCash |
-5,822,165.85 |
-9,994,805.35 |
|
FinanceNetCash |
19,001,705.42 |
14,297,782.81 |
BANKING
BPI Family Savings Bank, Inc.; Metropolitan Bank and Trust Company; Security Bank Corporation
Subject: JOCANIMA CORPORATION
FORM 1: Loans and
Receivables
This section
contains credit exposure of one million and above transactions reported
quarterly by banks and other financial institutions.
For quarter ending
as of June 30, 2012
|
Collateral/Security |
Co Maker's Name |
Loan Type |
Loan Status |
Outstanding Amount |
Market Gain/Loss |
Secured Amount |
Unsecured Amount |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
474,275.00 |
0.00 |
474,275.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
131,560.00 |
0.00 |
131,560.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
103,065.00 |
0.00 |
103,065.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
268,875.00 |
0.00 |
268,875.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
250,107.00 |
0.00 |
250,107.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
634,470.00 |
0.00 |
634,470.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
103,065.00 |
0.00 |
103,065.00 |
0.00 |
|
Chattel Mortgage |
|
Other Agri
Credit Loans |
Current |
100,880.00 |
0.00 |
100,880.00 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
147,237.36 |
0.00 |
147,237.36 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
328,665.02 |
0.00 |
328,665.02 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
340,328.68 |
0.00 |
340,328.68 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
406,760.17 |
0.00 |
406,760.17 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
669,295.09 |
0.00 |
669,295.09 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
1,020,748.53 |
0.00 |
1,020,748.53 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
1,158,667.47 |
0.00 |
1,158,667.47 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
2,136,628.10 |
0.00 |
2,136,628.10 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
674,766.12 |
0.00 |
674,766.12 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
750,456.82 |
0.00 |
750,456.82 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
702,115.78 |
0.00 |
702,115.78 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
JOSEFINA M |
Time Loans |
Current |
669,295.09 |
0.00 |
669,295.09 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
163,532.02 |
0.00 |
163,532.02 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
199,149.37 |
0.00 |
199,149.37 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
267,640.95 |
0.00 |
267,640.95 |
0.00 |
|
Chattel Mortgage |
EVANGELISTA
CELSO L |
Time Loans |
Current |
634,398.43 |
0.00 |
634,398.43 |
0.00 |
|
Other Securities |
ENVIRO CROPVET
PRODUCTS INC AND EVANGELISTA CELSO AND JOSEFINA |
Other Agri
Credit Loans |
Current |
5,000,000.00 |
0.00 |
0.00 |
5,000,000.00 |
|
Chattel Mortgage |
|
Time Loans |
Current |
5,747,255.27 |
0.00 |
5,747,255.27 |
0.00 |
|
Chattel Mortgage |
|
Time Loans |
Current |
730,310.70 |
0.00 |
730,310.70 |
0.00 |
NEGATIVE RECORDS
No negative records (court cases, credit
cards cancelled and delinquent accounts) found under the name “JOCANIMA
CORPORATION” in available database as of December 12, 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.
Address verification per interview with
Rona Malabanan, Finance Staff.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
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.