|
Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
MOLIBDENOS Y METALES |
|
|
|
|
Registered Office : |
Camino Nos a Los Morros Nro. 66, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1975 |
|
|
|
|
Legal Form : |
Public Stock Company |
|
|
|
|
Line of Business : |
Marketing of molybdenum by-products |
|
|
|
|
No. of Employees : |
1.432 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
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 – 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION
T A X : 93.628.000-5
MOLIBDENOS Y METALES S.A.
( MOLYMET )
Camino Nos a Los Morros Nro. 66
XIII Region Metropolitana
CHILE
Telephone : 56-2-9376676,
56-2-9376600, 56-2-9376653
E_Mail :
info@molymet.cl
Web Site : www.molymet.cl
SUMMARY
Started :
1975
Total
Employees : 1.432
Payments
: See Commercial Record
Sales
: 000's$ 693.685.202.-
Capital
: 000's$ 168.932.260.-
Sic(s) : 2899 - 6799
Line of Business: Marketing of molybdenum
by-products.
EVALUATION
Interpretation
at the end of the report.
Credit Recommendation
000's
Pesos 000's US$
dollars 000's Euros
Conservative value
:
3.900.000
8.040
6.079
Liberal value
: 4.290.000
8.844
6.687
If additional information is received or
present information is rectified, this
recommendation may be modified.
Financial indicators
According to last financial statement, subject
shows an excellent financial
situation, as indicated in:
** High Working Capital
** Excellent Current Liquidity Ratio
** Excellent Acid Test Ratio
Economic situation is normal, as reflected in:
** Low Current Indebtedness Ratio
** Normal Total Indebtedness Ratio
** Excellent Solvency Ratio
** Normal Profitability Over Sales Ratio
** Normal Profitability Over Assets Ratio
** High Profitability Over Net Worth Ratio
COMMERCIAL INFORMATION
Commercial
Bulletin : As at 17/07/2012 subject does not
register protested
checks, bank drafts nor
promissory notes in the
commercial information bulletin
Labor
Bulletin : As at 17/07/2012 does not register labor
infringements
Previsional bulletin : As At 17/07/2012 registers pension fund's
infringements
Previsional Detail
Date :11/06/2012
Reason :Undeclared
payrolls
Value :Ch$ 50.434,00.-
Months
:4
Bulletin :136
Page :119035
Drawer : AFP
Cuprum
Consolidated delinquency : As at 17/07/2012,
subject registers the following
delinquent bill
Detail of Delinquent Debts
Date :
02/04/2012
Note : Invoice
Value : Ch$
1.511.876,00
Drawer : Tanner Servicios
Financieros
City : -
TRADE REFERENCES (06/03/2012)
Suppliers' trade references are supplied as
follows:
Detail of References
Old
: Since 2001
Last purchase : 01-2012
Terms
: 60 days
Payment
: Prompt
Notes
: invoice
Credit
: (000'sUS$) 4.000
Owes
: -
Due
: Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 1.500
Old
: Since 1996
Last purchase : 01-2012
Terms
: 30 days
Payment
: Prompt
Notes
: order form
Credit
: (000'sUS$) 4.000
Owes
: (000'sUS$) 3.000
Due
: Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 4.500
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old
Purch. Payment. Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1996 01-11
Prompt order
form
4.000 None
Since 1996 04-10
Prompt order form
4.000 None
Since 2002 03-10
Prompt order
form
50.000 None
Since 2002 10-09
Prompt order
form
- None
Since 1996 10-09
Prompt order
form
5.000 None
Since 1996 05-09
Prompt order
form
5.000 None
Since 2002 05-09
Prompt order
form
- None
Since 2002 06-08
Prompt order
form
-
-
Since 1996 06-08
Prompt order
form
5.000
-
Since 1996 04-08
Prompt order
form
5.000
-
Since 1996 03-07
Prompt order
form
5.000
-
Since 2001 01-07
Prompt order
form
10.000 None
Since 2001 07-06
Prompt order
form
4.000
-
10 years 07-06
Prompt order
form
5.000
-
10 years 03-06
Prompt order
form
1.500
-
Since 2001 03-06
Prompt order
form
6.000
-
5 years 03-06
Prompt
checks
Open
-
Since 2001 10-05
Prompt order
form
6.000
-
5 years 10-05
Prompt
checks
Open
-
10 years 10-05
Prompt order
form
1.500
-
10 years 02-05 Prompt
order
form
1.500
842
5 years 02-05
Prompt
checks
Open
-
Since 2001 02-05
Prompt order
form
6.000 2.300
10 years 02-04
Prompt order
form
5.000
-
5 years 02-04
Prompt
checks
Open
-
10 years 02-04
Prompt
checks
5.000
-
Subject does not register any protested bills.
However, shows one social
security infringement as of the date of this
report.
Moreover, subject shows one delinquent payment
for a total value of
$1.511.876.-
During the last 6 months, the account holder
credit history shows 95 credit
review inquiries requested by financial
institutions, health insurance
companies, credit reporting agencies, and
businesses in general.-
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported
in June 2011
The local delays in payment average 0-1 month.
FINANCIAL INFORMATION
C O M P A R A T I V E - S U M M A R
Y
(
Figures in Thousand Pesos, local currency )
From 01/01/2011
01/01/2010 01/01/2009
To 31/12/2011
31/12/2010 31/12/2009
CURRENT
ASSETS
552.377.364
491.003.937 317.401.091
CURRENT
LIABILITIES
152.055.650
144.692.721 100.087.837
WORKING CAPITAL
400.321.714
346.311.216 217.313.254
FIXED
ASSETS
248.436.581
227.692.363 235.124.471
OTHER
ASSETS
38.679.295
34.892.244 2.625.916
LONG TERM
LIABILITIES
222.724.953
194.407.219 180.196.463
NET
WORTH
464.712.637
414.488.604 274.867.178
OPERATING
INCOMES
693.685.202
631.248.330 479.334.652
CURRENT
PROFIT(LOSS)
54.807.532
45.674.140 36.302.299
B A L A N C E S H E E T
CONSOLIDATED FISCAL YEAR COMPLETE
ASSETS
31/12/2011 31/12/2010
Cash
118.094.525 242.671.678
Term
Deposits
209.153.956
0
Sales
Debtors
2.693.341 84.800.757
Sundry
Debtors
63.057.029
0
Notes & Accts
Receivable/Interco.Relations
2.664.139
30.149
Inventory
154.649.392 138.500.657
Taxes
Recoverable
2.064.982 3.099.923
Other Current
Assets
0 21.900.773
CURRENT
ASSETS
552.377.364 491.003.937
Contructions & Infrastructure
Works
0 216.152.871
Other Fixed
Assets
0 11.539.492
Higher Value/Technical
Reappr.Fix.Assets
13.415.080
0
Net Fixed
Asset
235.021.501
0
FIXED
ASSETS
248.436.581 227.692.363
Investments in Related
Companies
21.287.040 18.967.637
Long Term
Debtors
2.305.896
0
Intangibles
1.140.954 175.541
Other
13.945.405 15.749.066
OTHER
ASSETS
38.679.295 34.892.244
TOTAL
ASSETS
839.493.240 753.588.544
LIABILITIES
31/12/2011 31/12/2010
Oblig.With Banks & Financ.Inst.Short
Term
72.165.892 35.332.798
Accounts
Payable
65.594.453 88.510.939
Notes & Accts Payable Related
Companies
255.515 239.727
Provisions
421.861 494.043
Withholdings
4.094.504 997.325
Other Current
Liabilities
9.523.425 19.117.889
CURRENT
LIABILITIES
152.055.650 144.692.721
Oblig.with Banks & Financial
Intitutions
186.997.642 161.829.582
Notes & Accts Payable Related
Companies
0 238.269
Provisions
9.100.520 9.262.813
Other Long Term Liabilities
26.626.791 23.076.555
LONG TERM
LIABILITIES
222.724.953 194.407.219
Paid
Capital
211.823.831 197.744.436
Other
Reserves
-14.563.335 275.225
Accumulated
Profits
207.790.338 171.629.715
Accumulated
Losses
0 -834.912
Current Profit
(Losses)
54.807.532 45.674.140
Provisory
Dividends
4.854.271
0
NET
WORTH
464.712.637 414.488.604
TOTAL
LIABILITIES
839.493.240 753.588.544
STATEMENTS OF
RESULTS
31/12/2011 31/12/2010
Operating
Income
693.685.202 631.248.330
Operating
Cost
-588.776.836 -546.751.486
OPERATING
MARGIN
104.908.366 84.496.844
Administration & Sales
Expenses
-33.135.133 -35.090.639
OPERATING
RESULT
71.773.233 49.406.205
Financial
Incomes
12.014.961 9.731.083
Other non Operating
Incomes
4.413.637 4.397.757
Loss investment Related
Companies
-159.567
0
Financial
Expenses
-12.727.795 -9.341.587
Other non Operating
Expenses
-5.269.875 -160.953
Exchange
difference
0 2.154.628
NON OPERATING
RESULT
-1.728.639 6.780.928
Result Before Income
Tax
70.044.594 56.187.133
Income
Tax
-15.251.141 -10.512.993
Monority Interest
14.079
0
NET
PROFIT(LOSS)
54.807.532 45.674.140
CURRENT
PROFIT(LOSS)
54.807.532 45.674.140
ECONOMIC - FINANCIAL RATIOS
31/12/2011
31/12/2010 Average
Working
Capital
(000's$) 400.321.714
346.311.216 373.316.465
Current
Liquidity
(Times)
3,63
3,39 3,51
Acid
Test
(Times)
2,62 2,44
2,53
Collection Period
Days (
Days)
35,50
48,38 41,94
Accounts Receivable
Turnover(Times)
10,14 7,44
8,79
Inventory
Turnover
(Times)
3,81
3,95 3,88
Current
Indebtedness
(Times)
0,33
0,35 0,34
Total
Indebtedness
(Times)
0,81
0,82 0,82
Solvency
(Times)
2,24
2,22 2,23
Assets Tying
Up
( % )
29,59
30,21 29,90
Profitability Over Sales
( % )
7,90
7,24 7,57
Profitability Over Assets (
% )
6,53
6,06 6,30
Profitability Over Net Worth( %
)
13,37
12,38 12,88
BANKS
Subject operates with the following banks:
National
- Banco Bice
- Banco Bilbao Vizcaya Argentaria, Chile
- Banco de Chile
- Banco de Credito e Inversiones
- Banco Security, head office
- BancoEstado
- Corpbanca
International
- J.P. Morgan Chase United States
OPERATIONS
Line of Business : Marketing of molybdenum
by-products. Oxides, chemical
products, basic industrial chemical substances, mineral
products, ferro molybdenum, among others.
Subject is ISO 9001: 2000 - ISO 2001 : 2008 certified.
Classification according to commercial
activity:
Sic: 2899-0000 Chemical preparations
Sic: 6799-0000 Investors
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: 2%.
Sales conditions: Cash and credit.
International: 98%.
Exports to Germany, Argentina, Australia, Austria,
Belgium, Brazil, Canada,
China, Colombia, North Korea, South Korea,
United Arab Emirates, Spain, Finland,
Netherlands, India, England, Japan, Malaysia,
Mexico, Peru, Singapore,
Southafrica, Sweden, Taiwan, United Kingdom,
Thailand and United States
of Exports obtained from Customs'National
Service
Country
%last year %Accum.
-------------------------------------------------------
Netherlands
50,07 32,09
United
States
16,43 35,79
Belgium
7,74 5,15
Japan
6,87 7,76
Brazil
5,16 5,62
Austria
4,32 5,60
Sweden
2,34 2,14
Australia
1,02 1,48
Mexico
0,90 0,00
Southafrica
0,86 1,47
Germany
0,61 0,00
Argentina
0,50 0,00
China
0,50 0,00
England
0,48 0,58
Taiwan
0,46 0,49
Spain
0,41 0,59
India
0,26 0,00
Thailand
0,25 0,00
Finland
0,21 1,16
South
Korea
0,20 0,00
Canada
0,19 0,00
Singapore
0,05 0,00
United
Kingdom
0,04 0,00
United Arab
Emirates
0,04 0,00
North
Korea
0,04 0,00
Colombia
0,02 0,00
Peru
0,01 0,00
Malaysia
0,00 0,00
Historical registries
Total 2011
= 000's$ 525.585.544 Accumulated
2012 = 000's$ 29.468.902
Total 2009
= 000's$ 299.655.841
Total 2008
= 000's$ 1.061.336.355
Total 2007
= 000's$ 870.135.895
Total 2006
= 000's$ 814.195.548
Total 2005
= 000's$ 705.822.065
Total 2004
= 000's$ 373.216.001
Total 2003
= 000's$ 106.669.208
Customers
Main customers are: Companies in general.
The 3 most important customers are:
Cap S.A., Compañia Electro Metalurgica
S.A. and Aceros y Metales Sociedad
Limitada.
Purchases
Places orders with multiple suppliers
National: 50%
International: 50%
Imports from Germany, Argentina, Belgium,
Brazil, Canada, China, North Korea,
South Korea, Denmark, Spain, France, England,
Japan, Mexico, Peru, Turkey and
United States
Records of Imports obtained from
Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Peru
43,97 60,35
Mexico
23,05 36,61
United
States
19,19 0,00
Canada
11,83 2,20
China
1,59 0,04
Argentina
0,16 0,70
Brazil
0,09 0,00
North
Korea
0,03 0,00
South
Korea
0,02 0,00
Japan
0,02 0,00
Turkey
0,01 0,00
France
0,01 0,00
Denmark
0,01 0,00
Germany
0,01 0,06
Belgium
0,00 0,00
Spain
0,00 0,00
England
0,00 0,00
Historical registries
Total 2011
= 000's$ 311.452.142 Accumulated
2012 = 000's$ 16.780.831
Total 2009
= 000's$ 174.751.674
Total 2008
= 000's$ 529.529.057
Total 2007
= 000's$ 494.465.892
Total 2006
= 000's$ 316.461.140
Total 2005
= 000's$ 375.794.897
Total 2004
= 000's$ 148.404.368
Total 2003
= 000's$ 48.233.099
Main suppliers
- Coagra S.A.
- Compañia de Petroleos de Chile Copec S.A.
- Corporacion Nacional del Cobre de Chile
- Electricidad Gobantes S.A.
- Empresa Nacional de Energia Enex S.A.
- In Motion Servicios S.A.
- Manufacturas Metalurgicas Rheem Chilena
Limitada
- Minera Anglo American Chile Ltda.
- Minera Sur Andes S.A.
- Oxiquim S.A.
- Petrobras Chile Distribución Ltda.
- Plasticos Haddad S.A.
- Rhein (Chile) S.A.
Employees: 1.432 employees
Location
- Huérfanos 812, Of. 612,Santiago was
subject's adress until July 31st. 2011.
Currently located at Camino Nos a
Los Morros Nro. 66 San Bernardo, Chile
Branches (05/03/2012)
- Industry at Avda. Peñuelas 0258 San
Bernardo Chile
RELATED COMPANIES
Subject is related to the following companies:
National
- Inmobiliaria San Bernardo S.A. T A X
96953640-4, 99,99% Participation
- Carbomet Industrial S.A. T A X
96103000-5 San Bernardo, 99,98% Participation
- Complejo Industrial Molynor S.A. T A X
76016222-1 Mejillones, 95,88%
Participation
- Carbomet Energia S.A. T A X 91066000-4
San Bernardo, 52,75% Participation
- Inmobiliaria San Jose de Nos S.A. T A
X 96999080-6, 0,01% Participation
- Compañia Auxiliar de Electricidad del
Maipo S.A.
- Comotech S.A.
International
- Strategic Metals B.V., Netherlands
99,99%
- Molymet Corporation, United States
99,9%
- Molymex S.A. de C.V., Mexico 99,99%
- Chemiemetall, Germany
- Luoyang High-Tech Metals Co. Ltd.,
China
- Sadaci N.V., Belgium
FIXED ASSETS
Real estates
Subject registers real estates
- Farming exploitation, Parcela 9 Ex
Fundo Las Lilas San Bernardo-Chile, Fiscal
value of 000's$ 18.343.-, rol Nº
5500-28
- Previous, Huérfanos 812 Of. 612
Santiago-Chile, Fiscal value of 000's$
270.181.-, rol Nº 101-869
- Building, Huérfanos 812 Of. 608
Santiago-Chile, Fiscal value of 000's$
32.299.-, rol Nº 101-868
- Sites, Peñuelas San Bernardo-Chile,
Fiscal value of 000's$ 194.827.-, rol Nº
5500-79
- Farming exploitation, Cinco Pinos Pc.
9 San Bernardo-Chile, Fiscal value of
000's$ 42.631.-, rol Nº 5500-24
- Farming exploitation, Parcela 11 Nos
San Bernardo-Chile, Fiscal value of
000's$ 17.752.-, rol Nº 5500-27
- Industry, Cinco Pinos 0331 San
Bernardo-Chile, Fiscal value of 000's$
374.197.-, rol Nº 5500-130
- Farming exploitation, Rinconada Nos
Pc. 19 Lt. 3 San Bernardo-Chile, Fiscal
value of 000's$ 20.769.-, rol Nº
5500-36
- Industry, Las Lilas Hijuelas A San Bernardo-Chile,
Fiscal value of 000's$
57.574.-, rol Nº 5500-49
- Farming exploitation, Las Lilas de Nos
Lt. 3 B San Bernardo-Chile, Fiscal
value of 000's$ 293.097.-, rol Nº
5500-114
- Farming exploitation, La Querencia Pc.
8 Lt. B 4 A San Bernardo-Chile, Fiscal
value of 000's$ 6.449.-, rol Nº
5500-115
- Parking lot, Huérfanos 653 Box B 712
Santiago-Chile, Fiscal value of 000's$
1.777.-, rol Nº 121-894
- Sites, Las Acacias con Ochagavia San
Bernardo-Chile, Fiscal value of 000's$
768.734.-, rol Nº 4510-30
- Branch, Avda. Peñuelas 0258 San
Bernardo-Chile, Fiscal value of 000's$
198.987.-, rol Nº 5.500-80
- Farming exploitation, Peñuelas 0725
Nos San Bernardo-Chile, Fiscal value of
000's$ 8.225.-, rol Nº 5500-151
- Industry, Camino Nos San
Bernardo-Chile, Fiscal value of 000's$ 2.315.557.-,
rol Nº 5500-82
- Farming exploitation, Camino Nos Pc. C
Querencia San Bernardo-Chile, Fiscal
value of 000's$ 27.652.-, rol Nº
5500-157
- Industry, Los Suspiros 3700 San Bernardo-Chile,
Fiscal value of 000's$
1.209.968.-, rol Nº 5500-91
- Premises, Huérfanos 812, Oficina 501
Santiago-Chile, Fiscal value of 000's$
465.725.-, rol Nº 101-865
Total fiscal appraisal $ 6.324.741.603.-
Machinery
& Instalations
Equipments and machinery, not specified
INSURANCES
Insurance covering interests are undersigned
Insurance Services Brokers., covering all
risks.
BOARD OF DIRECTORS
President
: Carlos Hurtado Ruiz-Tagle
Vice
President : George
Anastassiou Mustakis
Director
: Jorge Gabriel Larraín Bunster
Director
: Raúl Alamos Letelier
Director
: Alberto Pirola Gianoli
Director
: Eduardo Guilisasti Gana TAX:6290361-9
Director
: Michael Schwarzkopf
ADMINISTRATION
General Manager and CEO : John Patrick
Graell Moore TAX:6153784-8
Corporate Manager of :
Manuel Guzmán Manzo TAX:4917151-K
Research and Development
Corporate Manager of :
Francisco J. Fernández Cañas TAX:6028944-1
Finances and IT.
Corporate Manager of :
Francisco de los Rios
Human Resources and
Corporate Affairs
Accounting
Manager : Máximo Jara Leal
Finance Vice President : Jorge
Ramírez Gossler TAX:7017179-1
Commercial
Vice : Gonzalo Bascuñán
Obach TAX:12797030-0
President
Vice
President :
Fernando Alliende Correa TAX:4883753-0
International and New
Businesses Area
Vice
President : Luis
Gonzalo Concha Parada TAX:7817539-7
Engeneering
Operation Vice President : Gabriel Gutiérrez
Clavería TAX:5146447-8
Operation
Vice : Rafael Raga
Castellanos TAX:4363486-0
President of Molymex and
Real Estate Companies
Auditor
Corporate : Claudia Avendaño Rozas
TAX:11959266-6
Internal
CURRICULUM
John Patrick Graell Moore
T A
X
: 6153784-8
Studies
: Finished studies in Universidad de Chile
Titled
as : Industrial
Civil Engineer.
Position
: General Manager and CEO
Curriculum
: Founder and Director of Agrícola Cerrillos de Tamaya and
President of Viña Tamaya, a company with a very successful
growth.Technical Director of Inecon, consultancy services,
10 years developing works for the public & private
sector.General manager of Molymet S.A., the main world"s
company of processing and sale of molybdenum with plants
in Chile, Mexico, Belgium and Germany.
Manuel Guzmán Manzo
T A
X
: 4917151-K
Titled
as : Chemical Civil
Engineer.
Position
: Corporate Manager of Research and Development
Francisco J. Fernández Cañas
T A
X
: 6028944-1
Titled
as : Computer
Engineer.
Position
: Corporate Manager of Finances and IT.
Jorge Ramírez Gossler
T A
X
: 7017179-1
Titled
as : Commercial
Engineer.
Position
: Finance Vice President
Carlos Hurtado Ruiz-Tagle
Studies
: Finished studies in Universidad de Chile .
Titled
as : Economist
Position
: President
Curriculum
: University professor, advisor of economy and projects. He
was Minister of Public works during the government of
President Aylwin. Founder and member of important board
of directors in chilean companies.
Gonzalo Bascuñán Obach
T A
X
: 12797030-0
Titled
as : Commercial
Engineer.
Position
: Commercial Vice President
Fernando Alliende Correa
T A
X
: 4883753-0
Titled
as : Industrial
Civil Engineer.
Position
: Vice President International and New Businesses Area
Luis Gonzalo Concha Parada
T A
X
: 7817539-7
Titled
as : Mechanical
Civil Engineer.
Position
: Vice President Engeneering
Gabriel Gutiérrez Clavería
T A
X
: 5146447-8
Titled
as : Metallurgical
Civil Engineer.
Rafael Raga Castellanos
T A
X
: 4363486-0
Titled
as : Metallurgical
Civil Engineer.
Position
: Operation Vice President of Molymex and Real Estate
Companies
Claudia Avendaño Rozas
T A
X
: 11959266-6
Titled
as : Auditor
Accountant.
Position
: Auditor Corporate Internal
Eduardo Guilisasti Gana
T A
X
: 6290361-9
Titled
as : Civil
Engineer.
Position
: Director
Legal Structure
: Public Stock Company
Constitution date :
28/10/1975. Registered on leaf 1.215 N°689, Trade
Registry of the Real Estates Receivership of Valparaíso,
dated Dec 23, 1975.
Registered at the Superintendency of Securities under
N° 0191 on April 04, 1983.
Term of duration : Indefinite
Legal
Address : Santiago - Chile
Current Social Capital: 000's$
168.932.260.-Divided to 127.111.084.- registered
shares unique series
Shareholder :
- 10,70% Nueva Carenpa S.A.
- 10,43% Inversiones Lombardia S.A.
- 10,00% Plansee Limitada
- 7,93% The Atlantic S.A.
- 6,25% 72251700-8 Fundacion
Gabriel y Mary Mustakis
- 4,68% Ed Harvey Trust
Corporation
- 4,68% Osvald Wagner Trust Co.
Inc.
- 4,68% Phil White International
Corp.
- 4,15% Rentas e Inversiones Octay
S.A.
- 4,15% Marea Sur S.A.
- 3,75% Whar Plot Corp
- 3,65% 90412000-6 Minera
Valparaiso S.A.
Administration is held by General Manager and
CEO.
Legal changes
Public Deed dated 02/01/1984, notary Sergio
Rodriguez Garcés, Santiago,
published in the Official Gazette dated
06/01/1984 page N° 13, corporate
structure was modified: Subject is divided
into 2 companies: one is the
continuer, keeping business name with a
capital of $238.027.409 divided into
104.000.000 registered shares of same value,
and a new company called
Desarrollos Técnicos S.A.,with a capital of
$401.647.000 divided into
104.000.000 shares.
Public Deed dated 12/07/1989, notary Aliro
Veloso Muñoz, Santiago, published in
the Official Gazette dated 17/08/1989 page N°
9, capital was increased: to
$532.321.598.-
Public Deed dated 01/12/1989, notary Aliro
Veloso Muñoz, Santiago, published in
the Official Gazette dated 18/12/1989 page N°
9, statutes were modified: subject
is divided into 2 companies, one keeps
business name (subject) and a new one
called RIO VILAMA S.A., line of business is
the manufacturing of molybdenum
oxide, ferromolybdenum, ammonium perrenate,
etc.
Public Deed dated 25/11/2002, notary René
Benavente Cash, Santiago, published in
the Official Gazette dated 29/11/2002 page N°
17, capital was increased: it was
agreed to express capital in dollars, i.e
US$2.182.077,35 divided into
104.000.000 no par value shares.
Public Deed dated 05/01/2005, notary René
Benavente Cash, Santiago, published in
the Official Gazette dated 14/01/2005 page N°
15, capital was increased: from
US$2.182.077,35 divided into 104.000.000 no
par value shares, to
US$106.182.077,35 divided into same number of
no par value shares.
At the same time, capital of
US$106.182.077,35, is again increased to
US$158.182.077,35 divided into 124.800.000 no
par value shares.
(Rectified in official gazette of Jan 22,
2005, page 13)
Public Deed dated 25/09/2008, notary Juan
Francisco Alamos Ovejero, Santiago,
published in the Official Gazette dated
01/10/2008 page N° 34, capital was
increased: to US$348.270.853,35 divided
into 127.111.084 no par value shares.
Public Deed dated 16/08/2010, notary Eduardo
Javier Diez Morello, Santiago,
published in the Official Gazette dated
21/08/2010 page N° 7, statutes were
modified: the number of directors is increased
from 7 to 9 members.
Public Deed dated 06/06/2011, notary Eduardo
J. Diez Morello, Santiago,
published in the Official Gazette dated
13/07/2011, statutes were modified: did
not publish details.
CAPITAL
US$ 348.270.853,35.-- X $485,06 (exchange rate
as of March 6, 2012)
=$168.932.260.125.-
Information regarding subject is supplied as
follows
DIARIO FINANCIERO of 24/03/2010 Molymet,
company linked to families Matte,
Gianoli and Mustakis, reported as a relevant
statement sent to the
Superintendency of Securities and Insurances
(SVS) that its affiliate company
located in China reached to an agreement to
purchase the 50% of the firm Luoyang
High-Tech Molybdenum Tungsten Material, which
is engaged in the elaboration of
molybdenum by-products.
According to comments of Molymet, the
agreement was subscribed with China
Molybdenum, the headquarters of the japanese
company.
The operation includes the payment of
US$37.7 millions for this asset -
figures subject to modification at the
moment of the operation's closing.
"The final business conditions should be
fulfilled within the next two
months, and related , among others, to
the ratification by the board of
directors of the purchasing and selling
companies, the approval of the
authorities and the registration in the
corresponding registers of the People's
Republic of China" - stated the company
to the SVS.
In the documents, it was also explained that
the acquisition will be carried
out with own resources and that this will not
have financial effects. -
Economía y Negocios El Mercurio Cuerpo B Pag 5
of 10/03/2012 Molymet makes
acquisition concrete.
On March 8, Molymet acquires the 13% of the
Molymet Company in the USA. The
deal, announced in february, involved the
purchase of 12.500.000 shares of the
American company for a total value of US$
390,2 millions.
Molycorp operates in the production of
minerals known as rare earth elements. -
INFORMATION SOURCES
On 05/03/2012 Mr. Máximo Jara Leal, Accounting
Manager, submitted just general
information, outside sources provided
Consolidated balance sheets:
IMPORTANT NOTE TO CONSOLIDATED BALANCE SHEETS
When entering consolidated balance sheets into
the evaluation system,
they are not taken into account for assessment
purposes as they do not
represent the actual
situation of the subject company, therefore,
they are not considered for
credit recommendation purposes.
-Other outside information sources.
Exchange rate
-As at 06/03/2012 $485,06 Per US$
-As at 31/12/2011 $521,46 Per US$
-As at 31/12/2010 $468,01 Per US$
-As at 31/12/2009 $507,10 Per US$
INTERPRETATION OF RISK LEVEL AND CREDIT
RECOMMENDATION
RISK LEVEL
Credit risk assessment is ordered as follows:
1 Minimum Risk, 2 Low Risk, 3
Middle Risk, 4 Middle High Risk, 5 Significant
Risk, 6 High Risk.
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.55.33 |
|
|
1 |
Rs.86.74 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.