|
Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
VITAPELLI LTDA - RECUPERAÇÃO
JUDICIAL |
|
|
Registered Office : |
Rodovia Comendador Alberto Bonfiglioli,8000 Caixa Postal: 4413 - Zona Rural
19064-000 - Presidente Prudente/Sp |
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Country : |
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Date of Incorporation : |
04.01.2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing, Trade, Import and Export of Leather and Leather Goods. |
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No. of Employees : |
1700 |
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RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
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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) |
|
Brazil |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
Brazil - ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.
|
Source : CIA |
VITAPELLI
LTDA - RECUPERAÇÃO JUDICIAL
|
MAIN ADDRESS: |
RODOVIA COMENDADOR ALBERTO BONFIGLIOLI,8000 CAIXA POSTAL: 4413 - ZONA
RURAL |
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ZIP CODE/CITY: |
19064-000 - PRESIDENTE PRUDENTE/SP |
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PHONE: |
18 2101-7500 / 7665 |
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FAX: |
18 2101-7510 |
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E-MAIL: |
elaine.peraira@vitapelli.com.br / vitareli@vitapelli.com.br |
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WEB SITE: |
www.vitapelli.com.br |
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BRANCHES: |
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ADDRESS: |
AVENIDA MANOEL GOULART,3920 - JARDIM MONTE ALTO |
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ZIP CODE/CITY: |
19064-000 PRESIDENTE PRUDENTE/SP |
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PHONE: |
18 2101-7400 |
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FAX: |
18 2101-7410 |
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ADDRESS: |
AV. SALIM FARAH MALUF,100 JD. MARACANA |
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ZIP CODE/CITY: |
19026-240 PRESIDENTE PRUDENTE/SP |
MAIN ACTIVITIES:
MANUFACTURING, TRADE, IMPORT AND EXPORT OF LEATHER AND LEATHER GOODS.
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
04/01/2000 |
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REGISTER DATE: |
04/01/2000 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
03.582.844/0001-86 |
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STATE REGISTER: |
562.175.147.118 |
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SHARE CAPITAL: |
R$ 50.240.000,00 |
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LAST REGISTER OF CAPITAL: |
28/10/2009 |
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BOARD OF DIRECTORS:
|
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NILSON RIGA VITALE |
ADMINISTRATIVE DIRECTOR |
|
MARINA FUMIE SUGAHARA |
FINANCIAL DIRECTOR |
|
CLEIDE NIGRA MARQUES |
MANAGER |
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
NILSON RIGA VITALE |
R$ 47.956.364,00 |
|
CLEIDE NIGRA MARQUES |
R$ 1.141.818,00 |
|
MARINA FUMIE SUGAHARA |
R$ 1.141.818,00 |
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AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
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VITAPET COMERCIAL INDÚSTRIA EXPORTADORA LTDA |
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AGROPECUÁRIA C.L.M.Z. LTDA |
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VITACOURO LTDA |
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THE SUBJECT WAS ESTABLISHED ON JANUARY 04, 2000 AS VITAPELLI LTDA TO
BE ENGAGED IN THE SAID LINE OF BUSINESS. ON APRIL 01, 2009 IT WAS TRANSFORMED
INTO STOCK COMPANY AND ALTERED ITS NAME TO VITAPELLI S/A. ON OCTOBER 28, 2009
IT WAS TRANSFORMED INTO LIMITED LIABILITY COMPANY UNDER THE ABOVE-MENTIONED
NAME. LOCATED IN BRAZIL, STATE OF SÃO PAULO, MORE PRECISELY IN THE
CENTER-WEST AREA, IN THE CITY OF PRESIDENTE PRUDENTE, WHOSE ECONOMY IS
BASICALLY RETURNED TO THE CATTLE PRODUCTION, ARISES VITAPELLI. WITH INTERNATIONAL REPUTATION, VITAPELLI EXPORTS 95 PERCENT OF THE
MANUFACTURED LEATHER TO THE EUROPEAN, ASIAN AND NORTH AMERICAN MARKETS. WITH A BUILT AREA OF 48 THOUSAND SQUARE METERS, HAVING THE LARGEST
PLANT FOR LEATHER TANNING IN THE WORLD, VITAPELLI IS THE SECOND LARGEST
EXPORTER OF BRAZIL, GENERATING MORE THAN 1350 DIRECT JOBS REACHING TO A DAILY PRODUCTION OF 13 THOUSAND LEATHER PIECES,
AMOUNTING TO AN ANNUAL MEDIUM PRODUCTION OF MORE THAN 3 MILLION AND 700
THOUSAND PIECES BETWEEN THE AREAS OF WET BLUE AND CRUST LEATHER, VITAPELLI
REPRESENTS ONE OF THE LARGEST WORLD NAMES TODAY IN THE LEATHER TANNING AREA. TRADE NAME: "VITAPELLI". PARTNERS: NILSON RIGA VITALE: BRAZILIAN, HOLDER OF DOCUMENTS CPF 969.890.848-04
AND RG 8.245.645, SP, RESIDENTIAL ADDRESS AT RUA FAGUNDES VARELA, 951, VILA
BOA VISTA, ZIP CODE 19020-620, PRESIDENTE PRUDENTE/SP; CLEIDE NIGRA MARQUES: BRAZILIAN, HOLDER OF DOCUMENTS CPF
056.233.018-60 AND RG 17.488.789, SP, RESIDENTIAL ADDRESS AT ALAMEDA ALBINA
MIOLA PETRIN, 406, PARQUE RESIDENCIAL DAMHA I, ZIP CODE 19053-360, PRESIDENTE
PRUDENTE/SP; MARINA FUMIE SUGAHARA: BRAZILIAN, HOLDER OF DOCUMENTS CPF
038.793.968-76 AND RG 12.106.607, SP, RESIDENTIAL ADDRESS AT RUA JOAQUIM
JESUS DOS SANTOS, 346, CENTRAL PARK RESIDENCIAL, ZIP CODE 19061-532,
PRESIDENTE PRUDENTE/SP. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: ON FEBRUARY 04,
2010 THE COMPANY'S JUDICIAL RECOVERY WAS ADJUDGED AND ON APRIL 19, 2010
SUBJECT WAS REQUIRED TO ADD "RECUPERAÇÃO JUDICIAL" TO ITS NAME,
THEN IN THE MEANTIME SUBJECT IS GOING THROUGH THIS PROCEEDING, THE COMPANY'S
NAME SHALL BE "VITAPELLI - RECUPERACAO JUDICIAL". WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. ELAINE, FINANCIAL
MANAGER, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS
THE INQUIRING PARTY'S NAME WAS DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF
THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER
INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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LAWSUITS: |
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DATE: |
COURT OF LAW: |
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3 |
EXECUTIVE LAWSUIT |
31/07/10 |
1ª VARA DE SP-PRESIDENTE PRUDENTE |
|
30 |
STATE LAWSUITS |
30/10/12 |
VARA DE SP-PRESIDENTE PRUDENTE |
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1 |
JUDICIAL RECOVERY ADJUDGED |
04/02/10 |
2ª VARA DE SP-PRESIDENTE PRUDENTE |
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4 |
FEDERAL LAWSUITS |
04/10/12 |
4º VARA DE PRESIDENTE
PRUDENTE/SP |
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JUDICIAL RECOVERY: ("RECUPERAÇÃO JUDICIAL" UNDER BRAZILIAN
BANKRUPTCY LAW) THE SUBJECT HAS FILED FOR JUDICIAL RECOVERY ON ABOVE MENTIONED DATE. JUDICIAL
RECOVERY IS A VOLUNTARY PROCEEDING WHICH MAY BE ADOPTED BY COMPANIES WHICH
ARE FACING FINANCIAL PROBLEMS AND NEED THE PROTECTION OF BRAZILIAN BANKRUPTCY
LAW BENEFITS IN ORDER TO TRY TO IMPROVE THE FINANCIAL STANDING. THE JUDICIAL RECOVERY UNDER BRAZILIAN BANKRUPTCY LAW IS SIMILAR TO THE
PROCEEDINGS OF CHAPTER 11 OF USA BANKRUPTCY LAW. THE COMPANY SUBJECT TO JUDICIAL RECOVERY IS REQUIRED TO PRESENT
RECOVERY PLAN TO BE APPROVED BY THE MAJORITY OF ITS CREDITORS IN A GENERAL
CREDITORS ASSEMBLY. PROVIDED THE RECOVERY PLAN IS APPROVED BY THE CREDITORS
THE COURT GRANTS THE COMPANY THE RIGHTS OF OPERATING UNDER THE LAW PROTECTION
AND A JUDICIAL ADMINISTRATOR IS APPOINTED TO SUPERVISE THE ACCOMPLISHING OF
THE PAYMENT TERMS AND THE EXECUTION OF THE RECOVERY PLAN AS APPROVED. THE JUDICIAL RECOVERY PROCEEDINGS ARE VERY EFFICIENT TO PROTECT THE
COMPANIES AND TO GRANT THEM POSSIBILITIES TO RECOVERY FROM FINANCIAL PROBLEMS
BUT THE APPROVAL OF THE CREDITORS AND IN-DEEP ACCOMPLISHMENT OF RECOVERY PLAN
IS ESSENTIAL TO MAKE SURE THE COMPANY WILL KEEP THE LAW PROTECTION AS GRANTED
BY THE COURT AND WILL BE SUCCESSFUL IN RECOVERING FROM THE FINANCIAL PROBLEMS
WHICH LEAD IT TO REQUIRE THE JUDICIAL RECOVERY PROCEEDINGS
PROTECTION. |
|
DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE
BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY
DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION. OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY.
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EXCHANGE RATE: |
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US$ 1,00 = R$ 2,05 |
- OFFICIAL RATE ON 09/11/2012 |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
|
IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT
THE SUBJECT'S CURRENT FINANCIAL STANDING. |
OWNED PREMISES ARE VALUED AT R$ 2.293.000,00
OWNED VEHICLES ARE VALUED AT R$ 2.843.000,00
OWNED MACHINES AND EQUIPMENTS
ARE VALUED AT R$ 33.185.000,00
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INSURANCE COMPANY: |
NOT AVAILABLE |
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COVERAGE: |
FIRE, RAY, EXPLOSION AND OTHERS |
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VALUE: |
R$ 50.000.000,00 |
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INSURANCE COMPANY: |
NOT AVAILABLE |
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COVERAGE: |
AIRCRAFT (CIVIL LIABILITY) |
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VALUE: |
R$ 1.639.000,00 |
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|
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INSURANCE COMPANY: |
NOT AVAILABLE |
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COVERAGE: |
VEHICLES |
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VALUE: |
R$ 100.000,00 |
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BRANCH/PHONE: |
CITY: |
|
BANCODO BRASIL S/A |
18 3221-3466 |
PRESIDENTE PRUDENTE/SP |
|
BANCO ITAU (UNIBANCO) S/A |
18 3222-9533 |
PRESIDENTE PRUDENTE/SP |
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BANCO ITAUBANK S/A |
43 3324-4646 |
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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 NOT RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). DATE RESEARCHED NOVEMBER 09, 2012. |
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE, TRADE, IMPORT AND EXPORT OF
LEATHER AND LEATHER GOODS. PRODUCTION OF WET-BLUE AND SEMI-FINISHED LEATHER AND DOG TOYS. |
IMPORTS FROM:
ITALY.
EXPORTS TO:
ITALY, SPAIN, PORTUGAL, KOREA, ARGENTINA, CHINA, CANADA, TURKEY AND
OTHERS.
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FOREIGN CLIENTS: |
COUNTRY: |
|
|
ALCOURO |
PORTUGAL |
|
|
ART A PELLI SRL |
ITALY |
|
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BAUER SRL |
ITALY |
|
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CONC MASTROTO |
ITALY |
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CURTIFRANCE S/A |
URUGUAY |
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DUMA SPA |
ITALTY |
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IMPORTRE COM INTN LTDA |
PORTUGAL |
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NATUZZI -NATCO SPA |
ITALY |
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OLIMPIC LEATHERS S/A |
ARGENTINA |
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ROMPA LEDER |
ITALY |
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SANCHEZ AGULLO |
SPAIN |
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SHIN KWANG |
KOREA |
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TS SACHS |
CANADA |
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STAFF:
THE COMPANY HAS: 1700 EMPLOYEE(S)
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 2000.
HOWEVER, ITS TRADE HISTORY WAS BLEMISHED BY SEVERAL PROTESTS AND A JUDICIAL
RECOVERY PETITION WAS FILED, SHOWING THAT AT THAT TIME THE COMPANY FAILED TO
ACCOMPLISH ITS COMMITMENTS WITH SEVERAL CREDITORS / SUPPLIERS. 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.
USUALLY THIS KIND OF SUITS DO NOT AFFECT THE COMPANY REPUTATION BUT IN THE
SUBJECT SPECIFIC CASE IT IS NOT POSSIBLE TO EVALUATE AS THERE ARE SEVERAL
SUITS REGISTERED AND NO DETAILS REGARDING THE AMOUNTS INVOLVED ARE AVAILABLE
FOR PUBLIC INSPECTION. |
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MAIN SUPPLIERS: |
|
|
|
|
|
|
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DOMESTIC
SUPPLIERS: |
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PHONE: |
|
BARRA MANSA COM. CARNES DERIV. LTDA |
|
11 3735-0533 |
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BASF S/A |
|
12 528-1200 |
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BAYER S/A |
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11 5694-5087 |
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CHAPECO CIA INDUSTRIAL ALIMENTICÍA |
|
49 321-2011 |
|
CIMENTO MAUÁ S/A |
|
21 3804-3100 |
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CLARIANT |
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11 5683-7233 |
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COBRASCAL IND. COM. CAL. LTDA |
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11 7886-1622 |
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CURTUME TOURO LTDA |
|
18 3907-9000 |
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MARFRIO IND. COM. IMP. EXP. LTDA |
|
11 4422-7200 |
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MICHELON FULÕES E MOLIN LTDA |
|
54 224-1055 |
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PLASTOLANDIA IND. COM. DE PLÁSTICOS |
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11 6914-8533 |
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SERGICOUROS |
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71 3379-7262 |
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TANQUIMICA INDÚSTRIA E COMÉRCIO LTDA |
|
11 4072-5000 |
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TFL DO BRASIL IND. QUÍMICA |
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16 3720-1022 |
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VANCOPEL |
|
77 3649-7085 |
PAYMENT HISTORY:
|
9 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 122.924,00 |
|
|
|
AMOUNT OF INVOICES PAID: 31 |
|
TOTAL OF PROMPT PAYMENTS: 92% |
|
TOTAL OF DELAYED PAYMENTS: 8% |
|
|
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HIGHEST INVOICE: R$ 55.020,00 |
|
HIGHEST CREDIT: R$ 55.020,00 |
|
TAKING INTO ACCOUNT THE FINANCIAL STANDING SHOWED AND THE HIGH NUMBER
OF DETRIMENTAL FILES SHOWED IT WOULD BE RECOMMENDED THAT ANY KIND OF BUSINESS
DEALINGS SHOULD BE CARRIED OUT IN CASH OR ADVANCED PAYMENT. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
|
|
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.