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Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SERVICIOS REMARC LIMITADA |
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Registered Office : |
Benjamín 2944 Oficina 13 -
Las Condes Santiago XIII Region Metropolitana |
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Country : |
Chile |
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Date of Incorporation : |
13.12.2004 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import of raw materials |
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No. of Employees : |
6 |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Chile - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for more than one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides one-third of government revenue. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Since 1999, growth has averaged 4% per year. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 59 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico. Over the past seven years, foreign direct investment inflows have quadrupled to some $15 billion in 2010, but foreign direct investment had dropped to about $7 billion in 2009 in the face of diminished investment throughout the world. The Chilean government conducts a rule-based countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and allowing deficit spending only during periods of low copper prices and growth. As of November 2011, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $18 billion. Chile used this fund to finance fiscal stimulus packages during the 2009 economic downturn. In December 2009, the OECD invited Chile to become a full member, after a two year period of compliance with organization mandates, and in May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. The economy started to show signs of a rebound in the fourth quarter of 2009, and GDP grew 5.1% in 2010 and 6.5% in 2011. Chile achieved this growth despite the 8.8 magnitude earthquake that struck in February 2010, which was one of the top 10 strongest earthquakes on record. The earthquake and subsequent tsunamis it generated caused considerable damage near the epicenter, located about 70 miles from Concepcion - and about 200 miles southwest of Santiago.
|
Source : CIA |
IDENTIFICATION
SERVICIOS REMARC LIMITADA
Benjamín 2944 Oficina 13 - Las Condes
Santiago
XIII Region Metropolitana
CHILE
Telephone :
56-2-29455954
E_Mail
: dbeltrand@surpacific.cl
Postal Code : 7550032
SUMMARY
Started
: 2004
Total Employees : 6
Payments
: Prompt
Capital :
000's$ 500.000.-
Sic(s) : 5169
Line of Business: Import of raw materials.-
Credit Recommendation
000's
Pesos 000's US$
dollars 000's Euros
Conservative value : 18.200
38
29
Liberal value
: 20.020
42 32
If additional information is received or present information is rectified, this
recommendation may be modified.
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL
INFORMATION
Commercial Bulletin : As at 12/12/2012 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information bulletin
Labor Bulletin : As at 12/12/2012 does not register work
infringements
Previsional Bulletin :
As at 12/12/2012 does not register social security infringements
Consolidated delinquency : As at 12/12/2012, subject does not register any
delinquent bill
TRADE
REFERENCES
Trade references are supplied as follows:
Detail of References
Old
: Since 2008
Last purchase :
11-2012
Terms : 30 days
Payment : Prompt
Notes : invoice
Credit : -
Owes : -
Due : Does not Register
Paying Comments : Good
Detail of Former Trade References
--------------------------------------------------------------------------------
Last Owes
Credit
Old
Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2007 01-10 Prompt
checks
700 None
During the last 6 months, the account holder credit history shows 3 credit
review inquiries requested by 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 bank:
- Banco Security, main office Av. Apoquindo 3150, Las Condes
OPERATIONS
Line of Business : Import of raw materials: additives, essences, food coloring
and scents for the manufacture of
foodstuffs.
Classification according to commercial activity:
Sic: 5169-0000 Chemicals and allied products
-0900 Food additives and
preserving
Subject is considered as a large company in this line of business, strong
competition
Sales
Sales are steady throughout the year
100% wholesalers
National sales territory
Products are sold
National: 100%.
Sales conditions: Credit.
Historical exports registered in the Customs National Services
Total 2007 = 000's$ 4.994
Total 2006 = 000's$ 546
Total 2005 = 000's$ 527
Not exporting currently
Customers
Main customers are: Members of the group and food industry
The 3 most important customers are:
Dimerco S.A., Cramer Productos Aromaticos S.A.C.I., Carlos, Good
Food S.A.
Purchases
Places orders with multiple suppliers
National: 1%
International: 99%
Imports from Germany, Argentina, Brazil, China, Spain, France, Netherlands,
India, Malaysia, Morocco and United States
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Brazil
39,44 14,78
Netherlands
21,82 44,43
United
States
20,05 23,91
France
4,11 3,23
Germany
3,35 3,70
China
2,94 1,66
India
2,55 3,71
Morocco
2,46 2,63
Argentina
1,76 0,67
Spain
1,27 1,23
Malaysia
0,25 0,00
Historical registries
Total 2011 = 000's$ 1.874.296 Accumulated 2012 = 000's$ 1.496.097
Total 2010 = 000's$ 941.205
Total 2009 = 000's$ 742.663
Total 2008 = 000's$ 5.473.836
Total 2007 = 000's$ 5.616.926
Total 2006 = 000's$ 3.315.458
Total 2005 = 000's$ 1.432.308
Main suppliers
- Importadora y Comercializadora Barcelona Limitada
Employees: 6 employees
Location
- Administrative offices located at Benjamín 2944 Oficina 13 Las Condes
Santiago, Chile, commercial area, main street of normal traffic,
construction
in good conditions
Branches
- Warehouse located at Lucerna 4925, Cerrillos Santiago Chile
RELATED
COMPANIES
Subject is related to the following companies:
- Transportes Las Rosas Ltda. (Transportation services for Dimerco)
- Transportes GF Ltda. (Provision of transportation services for
"Good Food S.A.")
- Good Food S.A. T A X 96665460-0 Cerrillos Santiago (Factory of
condiments of "Gourmet")
- Dimerco S.A. T A X 85648000-3 Cerrillos Santiago
- Cramer Productos Aromaticos S.A.C.I., Carlos T A X 92845000-7
Cerrillos Santiago
FIXED
ASSETS
Real estates
Subject does not register real estates
It was reported that the property located in the belongs to "Sur
Pacifico S.A."
Vehicles
Subject has no vehicles
Machinery & Instalations
Subject owns the following
- Office installations and other necessary elements .
INSURANCES
Insurance Company:
-Liberty Compañia de Seguros Generales S.A.
ADMINISTRATION
General Manager : Miguel
Andrés Berndt Briceño
Accountant
: Daniela Beltrand
LEGAL
INFORMATION
Legal Structure :
Limited Liability Partnership
Constitution date :
13/12/2004. Registered on leaf 40.918 N° 30.391, Santiago
Real Estate Registry, year
2004.-
Notary
: Raúl Iván Perry
Pefaur, Santiago
Term of duration :
5 Year automatically renewable for equal and successive periods
Legal Address : Santiago - Chile
Published in : Official Gazette dated 27/12/2004
page Nº 26
Current Social Capital:
000's$ 500.000.-
Social Initial Capital: 000's$ 500.000.-
Partner : 3
- 98,00% Sur Pacifico S.A.
- 1,00% 4775620-0 Claudio Andrés Berndt Cramer
- 1,00% 4775647-2 Miguel Renato Berndt Cramer
Power of attorney held by General Manager.
Legal changes
Public Deed dated 18/05/2005, notary Raúl Iván Perry Pefaur, Santiago,
published in the Official Gazette dated 04/06/2005 page N° 54, statutes were
modified: the omission flaw regarding deadline to complete pending capital was
corrected. It shall be completed by partners within a period of 1 year and
according to the requirements of the company.-
INFORMATION
SOURCES
On 13/12/2012 Miss. Daniela Beltrand, Accountant, submitted the data
shown in this report.
Note: Subject is located at Benjamín 2944, but its correct office is N° 13.
Office II-A does not correspond to it.-
-Other outside information sources.
Exchange rate
-As at 14/12/2012 $474,95 Per US$
INTERPRETATION OF RISK LEVEL AND CREDIT RECOMMENDATION
CREDIT
RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually used
in the commercial credit evaluation.
The amounts are based on the risk percentages'assignment to the following
indicators: Trade references, number of employees, legal structure,
protested bills, labor & welfare infringements, unpaid bills, operations,
insurances, net profit, net worth, working capital and liquidity variations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
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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 |
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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 |
|
-- |
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.