MIRA INFORM REPORT

 

 

Report Date :

28.11.2012

 

IDENTIFICATION DETAILS

 

Name :

JOSE HAVIR FILHO & CIA. LTDA.

 

 

Registered Office :

Rua Sever Do Vouga,389 - Recreio Estoril 12944-006 - Atibaia/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

04.01.1949

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Production of Paper and Silicon Films, Transfers and Heat-Transfers, Self-Adhesives, Medias For Digital Printing

 

 

No. of Employees :

65

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

COMPANY NAME

 

 

JOSE HAVIR FILHO & CIA. LTDA.

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA SEVER DO VOUGA,389 - RECREIO ESTORIL

ZIP CODE/CITY:

12944-006 - ATIBAIA/SP

 

 

PHONE:

11 4412-8833

FAX:

11 4411-0545

E-MAIL:

marcos@havir.com.br

WEB SITE:

www.havir.com.br

 

BRANCHES:

 

 

 

ADDRESS:

AVENIDA ENGENHEIRO CAETANO ALVARES,6410 - MANDAQUI

ZIP CODE/CITY:

02413-200 SÃO PAULO/SP

PHONE:

11 6950-5560

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

PRODUCTION OF PAPER AND SILICON FILMS, TRANSFERS AND HEAT-TRANSFERS, SELF-ADHESIVES, MEDIAS FOR DIGITAL PRINTING. ALSO STARCHED PAPERS FOR TATTOOS AND DECALS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

04/01/1949

REGISTER DATE:

04/01/1949

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

64.873.615/0001-05

STATE REGISTER:

19.002.455-4119

 

 

SHARE CAPITAL:

R$ 100.000,00

LAST REGISTER OF CAPITAL:

01/09/2004

 

BOARD OF DIRECTORS:

 

 

 

JOSÉ HAVIR FILHO

MANAGER

JOSÉ HAVIR NETO

MANAGER

 

 

AUTHORIZED USE OF SIGNATURE:

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

JOSÉ HAVIR NETO

R$ 95.000,00

JOSÉ HAVIR FILHO

R$  5.000,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

INDÚSTRIA DE DECALCOMANIAS IRIS LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON JANUARY 04, 1949 AS "JOSÉ HAVIR FILHO". TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ADOPTED THE ABOVE MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

THE COMPANY OPERATES WITH THE TRADE NAME "INDÚSTRIA DE PAPÉIS ESPECIAIS HAVIR".

 

PARTNERS:

 

JOSÉ HAVIR FILHO, BRAZILIAN, MARRIED, RESIDENTIAL ADDRESS AT RUA CASA FORTE, 78 - APTO. 112, SÃO PAULO/SP, HOLDER OF DOCUMENTS, RG 1.012.764 AND CPF 110.104.608-20;

 

JOSÉ HAVIR NETO, BRAZILIAN, MARRIED, RESIDENTIAL ADDRESS AT RUA RAFAEL DE OLIVEIRA, 348 - APTO. 142, SÃO PAULO/SP, HOLDER OF DOCUMENTS, RG 7.620.557 AND CPF 012.807.238-58.

 

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY IS SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO COMPLETE THIS REPORT.

 

A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SEND TO YOUR ATTENTION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

 

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

FINANCIAL INFORMATION

 

DUE TO ITS LEGAL FORM SUBJECT IS NOT OBLIGED TO PUBLISH BALANCE SHEET INFORMATION. WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED NO BALANCE SHEET INFORMATION IS AVAILABLE.

 

THE SUBJECT FILES THE ACCOUNTS THROUGH AN ACCOUNTANCY PROCEEDING NAMED "LUCRO PRESUMIDO" (PRESUMED PROFIT) WHICH EXEMPTS IT OF BUILDING UP BALANCE SHEET OR ANY OTHER BOOKING PROCEEDINGS WHICH ARE USUAL FOR COMPANIES WHICH FILE ACCOUNTS THROUGH THE ACCOUNTANCY PROCEEDING NAMED "LUCRO REAL" (REAL PROFIT).

 

DUE TO THAT REASON, THE SUBJECT HAS NO BALANCE SHEET INFORMATION TO PROVIDE BUT HAS DISCLOSED THE FOLLOWING FIGURES:

 

                                                     2011

CASH & BANKS                            R$     301.227,00

REAL ESTATE                             R$   4.000.000,00

MACHINES AND EQUIPMENTS                 R$   4.937.643,00

VEHICLES                                R$     190.000,00

GROSS INCOME                            R$  26.878.587,00

RAW MATERIAL - INVENTORY                R$   2.591.558,00

GOODS – INVENTORY                       R$     388.273,00

ACCOUNTS RECEIVABLE                     R$   1.805.594,00

PAYABLE ACCOUNTS                        R$     798.233,00

 

MONTHLY SALES

 

  2012

  2011

  2010

 

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

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

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

JANUARY

R$ 2.245.393,96

R$ 2.094.069,15

R$ 1.764.167,58

FEBRUARY

R$ 2.168.705,53

R$ 1.983.132,01

R$ 1.856.609,86

MARCH

R$ 2.481.867,29

R$ 2.071.360,65

R$ 2.200.603,32

APRIL

R$ 2.202.727,14

R$ 2.099.174,17

R$ 1.653.918,87

MAY

R$ 2.991.188,77

R$ 1.981.481,98

R$ 2.293.666,37

JUNE

 

R$ 2.021.414,03

R$ 2.161.128,19

JULY

 

R$ 2.923.821,73

R$ 1.933.411,88

AUGUST

 

R$ 2.672.716,28

R$ 2.495.122,79

SEPTEMBER

 

R$ 2.674.043,95

R$ 1.983.789,66

OCTOBER

 

R$ 2.532.558,60

R$ 1.772.121,55

NOVEMBER

 

R$ 2.230.694,65

R$ 2.089.474,18

DECEMBER

 

R$ 1.584.122,02

R$ 1.413.777,80

TOTAL

R$ 12.089.882,69

R$ 26.868.589,22

R$ 23.617.792,05

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,09

 - OFFICIAL RATE ON 22/11/2012

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:

 

IN THE ABSENCE OF FURTHER FINANCIAL DATA WE ARE NOT ABLE TO ACCESS THE SUBJECT FINANCIAL STANDING BY THE USUAL STANDARDS.

 

ALL THAT CAN BE REPORTED IS THAT SUBJECT OPERATES WITH A GROWING SCALE OF ACTIVITIES AND SO FAR NO SIGNS OF FINANCIAL PROBLEMS ARE REGISTERED.

 

REMARKS:

--------

 

A REQUEST FOR FURTHER FINANCIAL DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SEND TO YOUR ATTENTION.

 

ACCORDING TO THE RULES OF THE ACCOUNTANCY PROCEEDING FOLLOWED BY THE SUBJECT, IT COLLECTS THE TAXES, WHICH ARE DUE OVER THE GROSS SALES AMOUNT. THE TAXES SHOULD BE COLLECTED EITHER WITH PROFIT OR LOSS AT THE END OF THE FISCAL YEAR.

 

REGARDING THE RULES OF THE ABOVE SAID PROCEEDING IT MAY BE POSSIBLE TO STATE THAT COMPANIES WHICH FILE ACCOUNTS THROUGH THIS PROCEEDING ARE PROFITABLE COMPANIES. IT IS STATED BECAUSE THE MAIN DIFFERENCE OF THE PROCEEDING NAMED "LUCRO REAL" AND THE ONE NAMED "LUCRO PRESUMIDO" IS THAT IN THE FIRST THE COMPANY ONLY PAYS INCOME TAX WHEN IT HAS PROFIT AT THE END OF THE FISCAL YEAR, WHILE IN THE LAST THE COMPANY PAYS INCOME TAX REGARDLESS IT HAS PROFIT OR LOSS. THEREFORE, IF ANY COMPANY WHICH ADOPTS THE "PRESUMED PROFIT" PROCEEDING WAS NOT PROFITABLE IT WOULD BE A BETTER OPTION TO FILE ACCOUNTS THROUGH THE "LUCRO REAL" PROCEEDING BECAUSE IN THIS PROCEEDING TAXES ARE DUE ONLY WHEN PROFITABLE RESULTS ARE MET. IN CASE OF LOSSES NO INCOME TAX IS DUE.

 

IN SHORT, COMPANIES, WHICH FILE ACCOUNTS THROUGH "LUCRO PRESUMIDO" PROCEEDING, ARE USUALLY PROFITABLE COMPANIES.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 4.000.000,00

 

THE PARTNERS OWN REAL ESTATE VALUED AT  R$ 4.500.000,00

 

VEHICLES:

 

OWNED VEHICLES ARE VALUED AT R$ 190.000,00

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 4.657.043,00

 

INSURANCE

 

INSURANCE COMPANY:

MARÍTIMA SEGUROS

EXPIRATION:

13/07/2012

VALUE:

R$ 200.000,00

REMARKS:

POLICY: 000659

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO DO BRASIL S/A

11 4411-2446

ATIBAIA/SP

BANCO BRADESCO S/A

11 4412-0321

ATIBAIA/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").

 

 

ACTIVITIES COMMENTS

 

PRODUCTION OF PAPER AND SILICON FILMS, TRANSFERS AND HEAT-TRANSFERS, SELF-ADHESIVES, MEDIAS FOR DIGITAL PRINTING. ALSO STARCHED PAPERS FOR TATTOOS AND DECALS.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

UNITED STATES AND INDIA.

 

EXPORTS TO:

MAXICO, COLOMBIA, CHILE AND PERU.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

3M DO BRASIL LTDA

 

19 3838-7271

ADESIVOS LUMAR INDUSTRIA E COMERCIO LTDA

 

11 2431-9966

ADLER PTI LTDA

 

31 598-1733

ALBA QUÍMICA INDÚSTRIA E COMÉRCIO LTDA

 

11 545-1007

BORRACHAS VIPAL S/A

 

54 242-1666

BRASCOLA LTDA

 

11 758-2020

COLORGRAF GRAFICA E EDITORA LTDA

 

51 3587-3700

GERMER PORCELANAS FINAS S/A

 

41 3392-2020

GERMER PORCELANAS FINAS S/A

 

41 3392-2020

HENKEL LTDA

 

11 4143-7000

INDUCEL ESP. INDÚSTRIA

 

19  256-7622

METAGAL INDÚSTRIA E COMÉRCIO

 

11  445-6611

NICHIBRAS INDÚSTRIA E COMÉRCIO

 

11  494-4444

POWER PRESS RÓTULOS E ETIQ. ADESIVAS LTDA

 

11 6604-7733

 

STAFF:

 

THE COMPANY HAS: 65 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1949. SO FAR IT HAS A CLEAR TRADE HISTORY AND NORMAL PAYMENT BEHAVIOUR. IT IS A FAMILY-RUN COMPANY AND BOTH THE COMPANY AND THE PRINCIPALS ENJOY A FAVORABLE REPUTATION AMONG LOCAL TRADE SOURCES.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

BANDEIRANTE QUÍMICA LTDA

 

11 3576-4100

BASF S/A

 

12  528-1200

BEST QUÍMICA LTDA

 

11 4091-7300

COMERCIAL FICAEL LTDA

 

11 5667-2000

DOW CORNING DO BRASIL LTDA

 

19 3887-1681

EUROAMERICAN DO BRASIL - IMP. IND. COM. LTDA

 

11 4619-8417

INDUSTRIA AMERICANA DE PAPEIS S/A

 

11 6291-2800

MAKENI CHEMICALS COM. IND. PRODUTOS QUIMICOS LTDA

 

11 4360-6400

MD PAPÉIS LTDA

 

11 4441-7800

QUIMICCRYL S/A

 

11 4615-1070

RIGESA CELULOSE PAPEL E EMBALAGENS LTDA

 

47 3621-5400

RIPASA S/A

 

11 3491-5204

SANTA MARIA CIA PAPEIS E CELULOSE

 

42 3621-4000

SCHWEITZER-MAUDUIT DO BRASIL S/A

 

24 2447-5200

SENGES TAPEL CELULOSE LTDA

 

43 3567-8600

SOLVEN SOLVENTES E QUIMICOS LTDA

 

19 3865-9500

TERPHANE LTDA

 

81 3521-7000

TL IND E COMÉRCIO DE TUBOS DE PPEL LTDA

 

11 6121-7979

TUBOLEVE LTDA

 

11 6121-7979

VOTORANTIM CELULOSE E PAPEL S/A

 

19 433-2822

WACKER QUIMICA DO BRASIL LTDA

 

11 4789-8300

 

 

PAYMENT HISTORY:

 

5 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 115.320,00

 

AMOUNT OF INVOICES PAID: 13

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 15.800,00

HIGHEST CREDIT: R$ 15.800,00

 

 

FINAL OPINION

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.89.34

Euro

1

Rs.72.35

 

 

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.