|
Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
MINERAÇÃO TABOCA SA |
|
|
|
|
Registered Office : |
Avenida Constantino Nery, 2789 10º Andar, Salas 1003/1004, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.11.1969 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Improvement of tin ore |
|
|
|
|
No. of Employees : |
877 |
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 – March 31st, 2012
|
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 |
MINERAÇÃO TABOCA
S/A
|
MAIN ADDRESS: |
AVENIDA CONSTANTINO NERY, 2789 10º ANDAR, SALAS 1003/1004, EDIFÍCIO
EMPIRE CENTER - CHAPADA |
|
ZIP CODE/CITY: |
69050-002 - MANAUS/AM |
|
|
|
|
PHONE: |
92 3656-6190 |
|
FAX: |
92 3656-6190 |
|
E-MAIL: |
|
|
WEB SITE: |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
VILA PITINGA, S/Nº ZONA RURAL |
|
ZIP CODE/CITY: |
69735-000 PRESIDENTE FIGUEIREDO/AM |
|
PHONE: |
92 3323-9200 |
|
FAX: |
92 3323-9200 |
|
CNPJ: |
34.019.992/0016-05 |
|
|
|
|
ADDRESS: |
ESTRADA DOS ROMEIROS - S/Nº. KM 49 |
|
ZIP CODE/CITY: |
06550-000 PIRAPORA DO BOM JESUS/SP |
|
PHONE: |
11 2199-9239 |
|
FAX: |
11 2199-9239 |
|
CNPJ: |
34.019.992/0008-97 |
|
MAIN ACTIVITIES: |
|
IMPROVEMENT OF TIN ORE. |
|
LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
11/11/1969 |
|
REGISTER DATE: |
11/11/1969 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
34.019.992/0001-10 |
|
STATE REGISTER: |
41.862.686 |
|
|
|
|
SHARE CAPITAL: |
R$
1.464.114.242,90 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
JORGE LUIZ CIDADE LOPEZ |
DIRECTOR |
|
FERNANDO GABRIEL TAFUR ESPINOZA |
DIRECTOR |
|
IAN GORDON HALL DUN |
DIRECTOR |
|
JOÃO LUIZ SERAFIM DA SILVA |
DIRECTOR |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
MINERA LATINOAMERICANA S.A.C. |
1.974.688.901
AÇÕES |
|
INVERSIONES NARANJAL S/A |
6 AÇÕES |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
MAMORÉ MINERAÇÃO E METALURGIA LTDA |
99,90% |
|
PITINGA COMÉRCIO ADMINISTRAÇÃO E SERVIÇOS LTDA |
99,90% |
|
EMPRESA BRASILEIRA DE ESTANHO S/A |
39,80% |
|
THE SUBJECT WAS ESTABLISHED ON NOVEMBER 11, 1969 AS MINERAÇÃO TABOCA
LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON AUGUST 02, 1971 IT
ALDOPTED THE ABOVE-MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN
THE GENERAL SCENE REPORTED HEREIN. TRADE NAME: "MINERAÇÃO TABOCA". THE EXTRAORDINARY SHAREHOLDERS' MEETING HELD ON NOVEMBER 30, 2009
APPROVED THE TAKEOVER OF THE NET EQUITY OF ITS CONTROLLER, SERRA DA MADEIRA
PARTICIPAÇÕES LTDA. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
PROTESTS: |
|
5 PROTESTS, TOTAL AMOUNT R$
11.833,76 |
|
DETAILS OF LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
1º CARTÓRIO DE SP-BARUERI |
24/11/2011 |
R$ 2.873,70 |
|
1º CARTÓRIO DE SP-BARUERI |
19/03/2012 |
R$ 2.195,87 |
|
CARTÓRIO DE SP-SANTO ANDRÉ |
29/02/2012 |
R$ 240,27 |
|
1º CARTÓRIO DE SP-BARUERI |
27/10/2011 |
R$ 750,00 |
|
CARTÓRIO DE SP-SANTO ANDRE |
18/10/2011 |
R$ 5.773,92 |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
7 |
FEDERAL LAWSUITS |
24/06/09 |
5ª VARA DE MANAUS/AM |
|
GENERAL BALANCE SHEETS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
CASH AND BANKS |
17.429 |
618 |
30.022 |
|
INVESTMENTS |
37.709 |
33.775 |
35.439 |
|
CLIENTS |
5.676 |
8.660 |
9.775 |
|
INVENTORY |
46.773 |
51.105 |
44.537 |
|
RECOVERABLE TAXES |
59 |
995 |
1.606 |
|
PRE PAID EXPENSES |
863 |
452 |
1.325 |
|
OTHER CREDITS |
8.795 |
4.998 |
3.622 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
117.304 |
100.603 |
126.326 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
RECOVERABLE TAXES |
1.273 |
2.206 |
54.362 |
|
DEFERRED TAXES |
164.755 |
173.376 |
172.422 |
|
INTERCOMPANY CREDITS |
|
|
10.629 |
|
JUDICIAL DEPOSITS |
31.084 |
26.824 |
24.102 |
|
CREDITS |
73.711 |
90.531 |
89.892 |
|
OTHER CREDITS |
|
|
51 |
|
CURRENT ACCOUNT |
12.798 |
11.457 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
283.621 |
304.394 |
351.458 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
429.690 |
353.331 |
210.585 |
|
INTANGIBLE |
16 |
240 |
1.002 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
429.706 |
353.571 |
211.587 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
830.631 |
758.568 |
689.371 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
SUPPLIERS |
34.033 |
11.595 |
7.866 |
|
LOANS AND FINANCING |
1.215 |
50 |
548 |
|
TAX LIABILITIES |
13.076 |
19.657 |
19.059 |
|
SOCIAL / LABOR OBLIGATIONS |
9.216 |
6.496 |
4.640 |
|
OTHER DEBTS |
12.016 |
10.109 |
14.542 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
69.556 |
47.907 |
46.655 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
3.741 |
|
|
|
PROVISIONS |
97.513 |
75.204 |
97.281 |
|
PROVISION FOR CONTINGENCIES |
5.612 |
8.835 |
8.115 |
|
DEFERRED TAXES |
20.257 |
27.642 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
127.123 |
111.681 |
105.396 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
1.464.114 |
1.252.736 |
1.105.133 |
|
CAPITAL RESERVES |
183.434 |
183.434 |
172.422 |
|
ACCRUED PROFIT (LOSS) |
-1.068.406 |
-908.524 |
-740.235 |
|
OTHER |
-1.364 |
-561 |
|
|
OTHER COMPREHENSIVE INCOME |
56.174 |
71.895 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
633.952 |
598.980 |
537.320 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
830.631 |
758.568 |
689.371 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
GROSS SALES |
|
|
105.135 |
|
(-) TAXES ON SALES |
|
|
3.595 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
110.315 |
77.913 |
101.540 |
|
(-) COST OF SOLD GOODS |
194.415 |
118.578 |
144.237 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT (LOSS) |
-84.100 |
-40.665 |
-42.697 |
|
OPERATING REVENUE (EXPENSE) |
-88.109 |
-94.205 |
5.318 |
|
FINANCIAL REVENUE(EXPENSE) |
-2.155 |
-1.328 |
-3.230 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
-174.364 |
-136.198 |
-40.609 |
|
CONTRIBUTION/INCOME TAX |
-1.239 |
-3.679 |
39.222 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
-175.603 |
-139.877 |
-1.387 |
|
RATIOS: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
QUICK RATIO |
1,01 |
|
1,03 |
|
1,75 |
|
|
CURRENT RATIO |
1,69 |
|
2,10 |
|
2,71 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
19,44 |
TIMES |
9,00 |
TIMES |
10,39 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
18,52 |
DAYS |
40,01 |
DAYS |
34,66 |
DAYS |
|
INVENTORY TURNOVER |
4,16 |
TIMES |
2,32 |
TIMES |
3,24 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
63,02 |
DAYS |
35,20 |
DAYS |
19,63 |
DAYS |
|
RETURN ON ASSETS |
,13 |
TIMES |
,10 |
TIMES |
,15 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
,17 |
TIMES |
,13 |
TIMES |
,19 |
TIMES |
|
NET WORTH TIE-UP |
,68 |
|
,59 |
|
,39 |
|
|
INDEBTEDNESS |
,31 |
|
,27 |
|
,28 |
|
|
EQUITY RATIO |
76,32 |
% |
78,96 |
% |
77,94 |
% |
|
WORKING CAPITAL RATIO |
68,65 |
% |
110,00 |
% |
170,77 |
% |
|
GENERAL SOLVENCY |
4,22 |
|
4,75 |
|
4,53 |
|
|
RETURN ON NET EQUITY |
-27,70 |
% |
-23,35 |
% |
-,26 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
-159,18 |
% |
-179,53 |
% |
-1,37 |
% |
|
GROSS PROFIT MARGIN |
-76,24 |
% |
-52,19 |
% |
-42,05 |
% |
|
OPERATIONAL RESULT |
-158,06 |
% |
-174,81 |
% |
-39,99 |
% |
|
SALES TURNOVER ON LIABILITIES |
1,59 |
TIMES |
1,63 |
TIMES |
2,18 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,00 |
- OFFICIAL RATE ON 18/05/2012 |
|
US$ 1,00 = R$ 1,87 |
- OFFICIAL RATE ON 31/12/2011 |
|
US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
|
US$ 1,00 = R$ 1,74 |
- OFFICIAL RATE ON 31/12/2009 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW A DELICATE FINANCIAL STANDING. IT HAS GOOD
LIQUIDITY AND POSITIVE WORKING CAPITAL, AS WELL AS LOW LEVEL OF INDEBTEDNESS.
IT SHOWS RECOVERY IN SALES BUT THE HIGH COSTS DROVE THE COMPANY TO MAKE
NEGATIVE GROSS RESULT, WHICH WAS WORSENED DUE TO THE OPERATING EXPENSES. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 99.936.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 9.916.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 131.846.000,00
|
COVERAGE: |
OPERATIONAL RISKS |
|
VALUE: |
R$ 122.000.000,00 |
|
|
|
|
COVERAGE: |
CIVIL LIABILITY |
|
VALUE: |
R$ 6.450.000,00 |
|
|
|
|
COVERAGE: |
FALHAS DE GESTÃO |
|
VALUE: |
R$ 13.605.000,00 |
|
NOT AVAILABLE. |
|
|
|
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"). |
|
IMPROVEMENT OF TIN ORE. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
NOT AVAILABLE. |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 877 EMPLOYEE(S) |
|
THE SUBJECT IS NA OLD ESTABLISHED COMPANY, OPERATING SINCE 1969. SO
FAR IT HAS SOME PROTESTS REGISTERED AND SLOW PAYMENT BEHAVIOR. THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE
RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. THE PROTESTS FOUND ARE NOT RELEVANT IN RELATION TO THE COMPANY’S SCALE
OF ACTIVITIES. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
NOT AVAILABLE. |
|
|
|
PAYMENT HISTORY: |
|
05 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 45.484,00 |
|
|
|
AMOUNT OF INVOICES PAID: 6 |
|
TOTAL OF PROMPT PAYMENTS: 8,7% |
|
TOTAL OF DELAYED PAYMENTS: 91,3% |
|
|
|
HIGHEST INVOICE: R$ 19.750,00 |
|
HIGHEST CREDIT: R$ 19.750,00 |
|
BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR
NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON
SECURED TERMS ONLY DUE TO THE STRONG DETERIORATION SHOWED IN THE LATEST
BALANCE SHEET. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.68 |
|
UK Pound |
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.86 |
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.