MIRA INFORM REPORT

 

 

Report Date :

25.02.2012

 

IDENTIFICATION DETAILS

 

Name :

LATICRETE DE COSTA RICA S.A.

 

 

Registered Office :

Avenida 10 entre Calle 9 y 11, 50 Este de Acueductos y Alcantarillados, San Jose

 

 

Country :

Costa Rica

 

 

Date of Incorporation :

06.11.1989

 

 

Com. Reg. No.:

Volume 0592, Page 223, Entry 00279

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Subject is engaged in import and trading of construction material (mortar for marble and ceramic installation, forge, and glue for cermics, bondex, etc

 

 

No. of Employees :

32

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Costa Rica

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION

 

CORRECT COMPANY NAME

LATICRETE DE COSTA RICA S.A.

TAXPAYER REGISTRATION

CJ 3-101-104606

MAIN ADDRESS

Avenida 10 entre Calle 9 y 11, 50 Este de Acueductos y Alcantarillados

PROVINCE / DEPARTAMENT

San José

COUNTRY

COSTA RICA

TELEPHONE

(506) 2225674 - 2213444 - 2334159

E-MAIL

laticrete@laticrete.co.cr

WEB

www.laticrete.co.cr

COMMENTS

Mailing address: Apartado Postal 1517-1000, San José

 

Additional e-mail: mbarrios@laticrete.co.cr

 

The order was requested stating address Del Sya en Avenida 10 25 NTSESTE San José. It is worth mentioning that our premises are located in the address stated in the headline.

 

 In Costa Rica all address are "informal" based on variable referential sites. Therefore, there are not any formal or official locations in the city or country. Some cities have Streets and Avenues, although few people use them as such.

 

 

 

SUMMARY

 

Date of foundation

1989

Capital stock

C/.120,000.= Colons

permanent employees

32

Chief Executive

FERNANDEZ ROHRMOSER, LUIS ALFONSO

Disposition

Report prepared through third-party sources.

Payments policy

P2 Usually to terms/good

Credit (**)

(B): Risk is Moderate. Within Average. Satisfactory.

 

 

CREDIT OPINION

 

Requested credit

Maximun?

Suggested credit (*)

N/A

(*) After analyzing different factors and other opinions.

 

 

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

DATE OF INCORPORATION

06NOV1989

PLACE OF REGISTRY

San Jose

DURATION

99 years

REGISTRATION

Volume 0592, Page 223, Entry 00279

CURRENT PAID-IN CAPITAL

C/.120,000.= Colons

CLASS OF SHARES

Registered

LISTED AT STOCK EXCHANGE

No

SHARE VALUE

C/.1,000.= Colons

CURRENT EXCHANGE RATE (US$)

C/.511.63 per 1 USD

MEMBERSHIP

Cámara Costarricense de la Construcción

COMMENTS

According to its Article of  Incorporation, the President and in his absence the Vice President, represent the company in court and out-of-court matters, limitless power.

 

 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

FERNANDEZ ROHRMOSER, LUIS ALFONSO

CEO

60%

 

LARA ZUÑIGA, ELENA ROSA

Vice President

40%

 

ORTIZ SOTO, MARTIN

Sales Director

 

 

FERNANDEZ AGUILAR, ALFONSO LUIS

Treasurer

 

 

BARRIOS, MANUEL

Acccountant

 

 

 

 

 

WHO IS WHO?

 

FERNANDEZ ROHRMOSER, LUIS ALFONSO

NATIONALITY

Costa Rican

D.O.B.

October 23, 1963

ID

CI 1612841

CIVIL STATUS

Married

PROFESSION

Industrial Engineer

FATHER'S NAME

ALFONSO FERNANDEZ AGUILAR

MOTHER'S NAME

ANA ISABEL ROHRMOSER VOLIO

BACKGROUND INFORMATION

Founder of LATICRETE DE COSTA RICA S.A.

 

Chemical Engineer, graduated from Texas A&M University (1983 - 1986)

 

 

ASSOCIATED AS PER OUR DATABASE TO

COMPANY

TITLE

TAX REG

COUNTRY

FERNANDEZ AGUILAR S.A.

Executive President

3-101-004087

COSTA RICA

LATICRETE DE PANAMA S.A.

 

420368-1-427273

PANAMA

FERNANDEZ Y ROHRMOSER S.A.

 

3-101-048459

COSTA RICA

ECONOMIC MEDIA INC.

 

1449118-1-637809

PANAMA

 

 

 

 

LARA ZUÑIGA, ELENA ROSA

NATIONALITY

Costa Rican

D.O.B.

November 5, 1966

ID

CI 1687206

CIVIL STATUS

Married to Luis Fernandez Rohrmoser

FATHER'S NAME

ALFREDO LARA SOTO

MOTHER'S NAME

HORTENSIA ZUÑIGA ORTIZ

 

 

BUSINESS HISTORY

 

A Company of Laticrete Group, a multinational of construction material, with offices, branches and distributors worldwide. 

 

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

AGRICOLA EL LLORONAL S.A.

COSTA RICA

 

Related

ALIS MACALA S.A.

COSTA RICA

3-101-150300

Related

CANTERAS DE PIEDRA CAPIESA S.A.

COSTA RICA

3-101-367972

Related

CEDROS DE POAS S.A.

COSTA RICA

 

Related

F.A. REVESTIMIENTOS S.A.

COSTA RICA

3-101-290316

Related

FERMICHO S.A.

COSTA RICA

3-101-157781

Related

FERNANDEZ AGUILAR S.A.

COSTA RICA

3-101-004087

Related

FERNANDEZ Y ROHRMOSER S.A.

COSTA RICA

3-101-048459

Related

LA GUAYABA ROSADA S.A.

COSTA RICA

3-101-365343

Related

LATICRETE DE PANAMA S.A.

PANAMA

420368-1-427273

Related

LATICRETE INTERNATIONAL INC

U.S.A.

 

Related

LATICRETE S.A. DE C.V.

MEXICO

LAT-930726-1Y0

Related

MORTEROS DE CEMENTO S.A.

COSTA RICA

3-101-157226

Related

ROCAS DEL TAPEZCO S.A.

COSTA RICA

3-101-157069

Related

 

 

 

 

 

 

BUSINESS

 

SIC Classification


5 2 - BUILDING MATERIALS, HARDWARE, GARDEN SUPPLY, AND MOBILE HOME DEALERS (Lumber and other building materials, paint, glass, hardware stores, wallpaper stores.)

 

Main activity

Subject is engaged in import and trading of construction material (mortar for marble and ceramic installation, forge, and glue for cermics, bondex, etc)

Subject represents the following brand "LATICRECE".

Import

Yes

Country

USA, Bahamas

Export

Yes

COUNTRY

Central America and Panama

% CASH SALES / METHOD

10%

% Credit SALES / Terms

90% terms from 30 to 90 days

% Ventas exterior (Paises)

20%

SELLING TerritorY

Domestic market (80%)

EMPLOYEES

32

 

LOCATION

 

OTHER PREMISES

According to our investigations, the real property is owned by a related company, has a land area of 2,000 sq.mts. Building of cement, steel, glass frame, located in commercial zone

 

PLANT: Del Sya en Avenida 10 25 NTSESTE San José;  

Comments

Subject imports via credits of 30 and 90 days.

 

Working hours: monday to friday 08:00 to 05:00 hours

 

Sales of this company are wholesale (90%) and retail (10%).

 

Major clients of this company include:

- Feraguilar

- Grupo Loza

- Lagar

- Bodegón de la Cerámica

- Grupo Dimar

- Constructora Van der Laat

 

Main competitors:

- Intaco

- Abonos Agro

 

 

FINANCIAL INFORMATION

 

 

Interviewee(s)

Fuentes Externas

 

Disposition

Report prepared through third-party sources.

 

Information provided

This report has been completely prepared through external sources, since Mr. Manuel Barrios (Accountant) stated that the main executives of the company must authorize it, although no reply we have obtained to date.  Security reasons are alleged.  

 

 

 

 

 

SALES

US$ 0.00 ()

 

FINANCIAL SITUATION

UNDETERMINED

The financial situation of the company is considered as undetermined because there are not financial elements to assess its results.  Subject is an experienced company operating in the market, therefore its performance is under a stable trend. 

 

 

PROPERTY OF COMPANY COMMENTS

REAL ESTATE: According to a study made, we have not found real estate properties registered to name of this company.

 

VEHICLES:

- "KENWORTH", style T600, model 1992, plate C 133925, capacity for 2 passengers. Free of burdens.

- "FIAT", style STRADA, model 2003, plate CL 192187, capacity for 2 passengers. Free of burdens.

 

 

 

 

PAYMENTS RECORD: TRADE REFERENCES

 

(Confidential Information)

Supplier: Vicesa SA

Tel.: (506) 25503200

Country: COSTA RICA

Goods/Services? : All kind of containers

 

 

Highest credit? : US$ 40,000.=

 

 

Client since? : 1994

Terms? : 30 days

Performance? : Prompt

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

Comment

Elf Total Petróleo

COSTA RICA

It was not available

Holcim Costa Rica SA

COSTA RICA

It was not available

Sílice de Costa Rica

COSTA RICA

It was not available

Industria Nacional de Papel

COSTA RICA

It was not available

Faber Mermer San Vetic A.S.

BAHAMAS

 

 

LAWSUITS

No lawsuits against the Subject were found.

 

 

 

BANKING INFORMATION

 

BANK

 

BANEX SA

Subject carries out its financial operations through the above-mentioned bank which he refused to provide information under the bank secrecy principle which authorizes to reserve its customer's information. Subject Works with the BICSA BANK (Miami -USA) where it has long-term credit operations in Dollars, wordwilde.

 

 

 

 

 

CREDIT OPINION

 

Comnsulted Credit Amount :

Maximun?

Suggested Credit :

N/A

It is not possible to give a credit opinion due to the lack of figures and information regarding Subject's obligation performance.

NOTE : The opinion given is confidential, referential and with out liability.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.06

UK Pound

1

Rs.77.19

Euro

1

Rs.65.57

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.