MIRA INFORM REPORT

 

 

Report Date :

13.07.2012

 

IDENTIFICATION DETAILS

 

Name :

FONTAINE INTERNATIONAL DO BRASIL LTDA.

 

 

Registered Office :

Rua Dr. Mario Jorge, 690 - Cidade Industrial 81.450-580 - Curitiba/Pr

 

 

Country :

Brazil

 

 

Financials (as on) :

30.06.2012

 

 

Date of Incorporation :

04.10.1996

 

 

Com. Reg. No.:

90247172-30

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Parts and Accessories for Motor Vehicles.

 

 

No. of Employees :

15

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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

(31.12.2011)

Current Rating

(31.03.2012)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

     
Company name

 

FONTAINE INTERNATIONAL DO BRASIL LTDA.

 

 

Company ADDRESSES

 

MAIN ADDRESS:

RUA DR. MARIO JORGE, 690 - CIDADE INDUSTRIAL

ZIP CODE/CITY:

81.450-580 - CURITIBA/PR

 

 

PHONE:

41 3029-6565

FAX:

41 3029-3550

E-MAIL:

comercial@fontaineintl.com.br

WEB SITE:

www.fontaineintl.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA PADRE ANCHIETA, 2454 CONJUNTO 1505, EDIFÍCIO WEST CENTER - BIGORRILHO

ZIP CODE/CITY:

80730-000 CURITIBA/PR

CNPJ:

01.534.587/0002-62

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF PARTS AND ACCESSORIES FOR MOTOR VEHICLES.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

04/10/1996

REGISTER DATE:

23/10/1996

BALANCE SHEET FILING DATE:

N.I.

TAX CONTRIBUTOR NUMBER(CNPJ):

01.534.587/0001-81

STATE REGISTER:

90247172-30

 

 

SHARE CAPITAL:

R$ 6.417.264,00

LAST REGISTER OF CAPITAL:

19/12/2011

 

BOARD OF DIRECTORS:

 

 

 

RONALDO TIRICO LINERO

MANAGER

 

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

IBERO IND. BRAS. DE EQUIPAMENTOS RODOVIÁRIOS LTDA

R$ 2.470.906,00

ERFOLG ADMINISTRADORA DE BENS HOLDING LTDA

R$ 3.946.358,00

 

 

AFFILIATES / SUBSIDIARIES:

 

 

 

MOVGAX LOCAÇÃO E TRANSPORTES LTDA

 

MEXICAN FOOD FRANCHISING LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON OCTOBER 04, 1996 AS L. A.DARLING DO BRASIL LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON SEPTEMBER 05, 2000 IT ADOPTED THE ABOVE-MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

ABOUT THE GROUP:

 

FONTAINE® INTERNATIONAL, INC., FORMERLY FONTAINE FIFTH WHEEL, IS THE WORLD'S LARGEST FIFTH WHEEL MANUFACTURER. IT HAS ISO/TS 16949:2000 CERTIFIED MANUFACTURING FACILITIES WORLDWIDE. THE COMPANY DIVIDES ITS GLOBAL ORGANIZATION INTO THREE OPERATING GROUPS: NORTH AMERICA, SOUTH AMERICA AND EUROPE. FONTAINE INTERNATIONAL - NORTH AMERICA IS BASED IN IRONDALE, ALABAMA. IN ADDITION TO CORPORATE HEADQUARTERS, IRONDALE IS ALSO HOME TO FONTAINE INTERNATIONAL'S 8,000-SQUARE-FOOT DEDICATED RESEARCH AND DEVELOPMENT FACILITY. FONTAINE INTERNATIONAL IS A MARMON HIGHWAY TECHNOLOGIES/BERKSHIRE HATHAWAY COMPANY.

 

PARTNERS / MANAGER:

 

IBERO INDÚSTRIA BRASILEIRA DE EQUIPAMENTOS RODOVIÁRIOS LTDA: HEADQUARTERED AT RUA SÃO ROQUE, 1215, VILA JAPÃO, ZIP CODE 08599-020, ITAQUAQUECETUBA/SP, TAXPAYER'S REGISTRATION UNDER # 04.220.031/0001-09, REPRESENTED BY ITS MANAGER PARTNER, MR. RONALDO TIRICO LINERO, BRAZILIAN, DIVORCED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA BARÃO DO SERRO LARGO, 67, APTO 81, VILA REGENTE FEIJÓ, SÃO PAULO/SP, HOLDER OF DOCUMENTS RG 19.103.473-3 AND CPF 139.220.578-61;

 

ERFOLG ADMINISTRADORA DE BENS HOLDING LTDA: HEADQUARTERED AT AVENIDA DR. YOJIRO TAKAOKA, 4384, ALPHAVILLE, ZIP CODE 06541-038, SANTANA DE PARNAÍBA/SP, TAXPAYER'S REGISTRATION UNDER # 11.698.491-0001-02, REPRESENTED BY ITS MANAGER PARTNER, MR. RONALDO TIRICO LINERO, BRAZILIAN, DIVORCED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA BARÃO DO SERRO LARGO, 67, APTO 81, VILA REGENTE FEIJÓ, SÃO PAULO/SP, HOLDER OF DOCUMENTS RG 19.103.473-3 AND CPF 139.220.578-61.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 30/06/2012, 31/12/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

30/06/2012

31/12/2011

31/12/2010

 

 

 

 

CASH AND BANKS

1.844.686,34

772.466,00

321.970,00

CLIENTS

2.806.180,79

3.269.745,00

833.199,00

RECOVERABLE TAXES

223.769,01

371.777,00

796.431,00

ADVANCES

23.340,27

11.535,00

11.212,00

INVENTORY

2.734.714,40

2.785.547,00

1.100.633,00

PRE PAID EXPENSES

4.790,35

10.055,00

10.605,00

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

7.637.481,16

7.221.125,00

3.074.050,00

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

RECOVERABLE TAXES

7.823,84

9.998,00

 

 

----------------

----------------

----------------

TOTAL LONG-TERM RECEIVABLES

7.823,84

9.998,00

 

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

432.006,88

486.509,00

492.586,00

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

432.006,88

486.509,00

492.586,00

 

================

================

================

TOTAL ASSETS

8.077.311,88

7.717.632,00

3.566.636,00

 

LIABILITIES:

 

 

 

CURRENT:

30/06/2012

31/12/2011

31/12/2010

 

 

 

 

SUPPLIERS

1.322.658,06

1.390.141,00

719.489,00

SOCIAL / LABOR OBLIGATIONS

 

26.227,00

37.443,00

FINANCING

3.544.129,74

2.437.236,00

16.640,00

TRIBUTARY OBLIGATIONS

74.451,69

46.388,00

34.221,00

PROVISIONS

95.524,58

193.254,00

340.661,00

OTHER DEBTS

170.439,05

 

21.000,00

ADVANCE FROM CLIENTS

 

77.439,00

 

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

5.207.203,12

4.170.685,00

1.169.454,00

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

FINANCING

711.275,84

936.668,00

42.988,00

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

711.275,84

936.668,00

42.988,00

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

6.417.264,20

6.417.264,00

5.482.264,00

ACCRUED PROFIT (LOSS)

-3.806.986,01

-3.128.071,00

-1.369.225,00

PROFIT (LOSS) OF PERIOD

-451.445,27

-678.915,00

-1.758.846,00

 

----------------

----------------

----------------

TOTAL NET EQUITY

2.158.832,92

2.610.278,00

2.354.193,00

 

================

================

================

TOTAL LIABILITIES

8.077.311,88

7.717.631,00

3.566.635,00

 

PROFIT AND LOSS ACCOUNTS AS OF 30/06/2012, 31/12/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

 

30/06/2012

31/12/2011

31/12/2010

 

 

 

 

GROSS SALES

7.886.829,62

15.011.400,00

9.023.496,00

(-) TAXES ON SALES

2.073.813,59

3.634.276,00

1.834.949,00

 

----------------

----------------

----------------

NET SALES

5.813.016,03

11.377.124,00

7.188.547,00

(-) COST OF SOLD GOODS

5.247.374,30

9.944.947,00

6.784.167,00

 

----------------

----------------

----------------

GROSS PROFIT

565.641,73

1.432.177,00

404.380,00

OPERATING REVENUE (EXPENSE)

-638.408,05

-1.809.456,00

-2.140.282,00

FINANCIAL REVENUE(EXPENSE)

-378.678,95

-299.115,00

-22.943,00

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

-451.445,27

-676.394,00

-1.758.845,00

CONTRIBUTION/INCOME TAX

 

-2.523,00

 

 

----------------

----------------

----------------

NET PROFIT (LOSS)

-451.445,27

-678.917,00

-1.758.845,00

 

RATIOS:

30/06/2012

31/12/2011

31/12/2010

 

QUICK RATIO

,94

 

1,06

 

1,69

 

CURRENT RATIO

1,47

 

1,73

 

2,63

 

ACCOUNTS RECEIVABLE TURNOVER

2,07

TIMES

3,48

TIMES

8,63

TIMES

DAYS' SALES IN RECEIVABLES

86,89

DAYS

103,46

DAYS

41,73

DAYS

INVENTORY TURNOVER

1,92

TIMES

3,57

TIMES

6,16

TIMES

ACCOUNTS PAYABLE PERIOD

45,37

DAYS

50,32

DAYS

38,18

DAYS

RETURN ON ASSETS

,72

TIMES

1,47

TIMES

2,02

TIMES

SALES TURNOVER ON NET EQUITY

2,69

TIMES

4,36

TIMES

3,05

TIMES

NET WORTH TIE-UP

,20

 

,19

 

,21

 

INDEBTEDNESS

2,74

 

1,96

 

,52

 

EQUITY RATIO

26,73

%

33,82

%

66,01

%

WORKING CAPITAL RATIO

46,67

%

73,14

%

162,86

%

GENERAL SOLVENCY

1,36

 

1,51

 

2,94

 

RETURN ON NET EQUITY

-20,91

%

-26,01

%

-74,71

%

RETURN ON SALES (PROFIT MARGIN)

-7,77

%

-5,97

%

-24,47

%

GROSS PROFIT MARGIN

9,73

%

12,59

%

5,63

%

OPERATIONAL RESULT

-7,77

%

-5,95

%

-24,47

%

SALES TURNOVER ON LIABILITIES

1,12

TIMES

2,73

TIMES

6,15

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,03

 - OFFICIAL RATE ON 10/07/2012

US$ 1,00 = R$ 2,02

 - OFFICIAL RATE ON 30/06/2012

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS

 

THE ANNUAL FIGURES AVAILABLE SHOW A FAIR FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS IS VERY HIGH BUT IT IS NOTED GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL AMOUNT. IN ADDITION IT SHOWS GROWING SALES BUT ITS HIGH EXPENSES DROVE THE COMPANY TO MAKE NEGATIVE RESULTS.

 

THE INTERIM FIGURES FOR JUNE 2012 SHOW THE INDEBTEDNESS INCREASED BUT THE CURRENT RATIO KEEPS GOOD. IN ADDITION IT IS NOTED GROWING SALES TREND BUT NEGATIVE RESULT WAS MADE AGAIN.

 

 

REAL ESTATE:

 

 NOT AVAILABLE

 

VEHICLES:

 

 

 NOT AVAILABLE

 

MACHINES:

 

 NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO BRADESCO S/A

3397 / 11 2423-6900

SÃO PAULO/SP

BANCO ITAÚ S/A

7646 / 11 3003-4828

GUARULHOS/SP

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK"). DATE RESEARCHED JULY 10, 2012.

 

 

ACTIVITIES COMMENTS

 

MANUFACTURE OF TOP PLATES, SLIDING BRACKET, TOP PLATE OPTIONS, STATIONARY BRACKET, BLOCKED FIFTH WHEEL.

 

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

CHINA. VALUE (ANNUALLY) US$ 1.088.044,12

 

EXPORTS TO:

UNTIED STATES. (ANNUALLY) US$ 2.173,80.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

NOT AVAILABLE.

 

 

 

STAFF:

 

THE COMPANY HAS: 15 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1996. SO FAR IT HAS A CLEAR TRADE HISTORY AND NORMAL PAYMENT BEHAVIOUR.

 

THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER OF TRADE CREDIT FACILITIES.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

FUNDIÇÃO ALUMETAF LTDA

 

47 3332-8333

INTERCAT S/A

 

37 3249-9700

MAGIUS METALÚRGICA INDUSTRIAL

 

41 2169-9400

 

FOREIGN SUPPLIERS:

COUNTRY:

PHONE:

GUANGDONG FUWA HEAVY INDUSTRIES CO.,

CHINA

86-750-5966983

MANNAN SHAHID FORGINS LIMITED

PAKISTAN

0092-42-655 0330

SUN RINGS HOLDING INDUSTRY LIMITED

HONG KONG

852-27811881

 

PAYMENT HISTORY:

 

1 SUPPLIER REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 4.175,00

 

AMOUNT OF INVOICES PAID: 7

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 1.211,00

HIGHEST CREDIT: R$ 1.211,00

 

 

 

FINAL OPINION

 

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE ABOVE-MENTIONED FINANCIAL STANDING.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.86.28

Euro

1

Rs.68.15

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.