MIRA INFORM REPORT

 

 

Report Date :

01.10.2012

 

IDENTIFICATION DETAILS

 

Name :

ETMA-EMPRESA TRANSFORMADORA DE MARMORES DO ALENTEJO SA

 

 

Registered Office :

 

Lugar de Cabanas-Herdade de Vigaria, Apartado 27 Vila Vicosa Evora

 

 

 

 

Country :

Portugal

 

 

 

 

Date of Incorporation :

01.08.1974

 

 

 

 

Legal Form :

Joint Stock Company

 

 

 

 

Line of Business :

Manufacture of marble and similar rocks

 

 

 

 

No. of Employees :

91

 

 

 

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)

Portugal

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

PORTUGAL - ECONOMIC OVERVIEW

 

Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the Economic and Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU members. The economy had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in 2010. But GDP fell again in 2011, as the government implemented austerity measures, including a 5% public salary cut, a 2% increase in the value-added tax, and an extraordinary tax on yearend bonuses to comply with conditions of an EU-IMF financial rescue package agreed to in May 2011. GDP per capita stands at roughly two-thirds of the EU-27 average. A rigid labor market has been an obstacle to greater productivity and growth. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a destination for foreign direct investment. Portugal's low competitiveness, low growth prospects, and high levels of public debt have made it vulnerable to bond market turbulence. The government reduced the budget deficit from 10.1% of GDP in 2009 to 4.5% in 2011, an achievement made possible only by the extraordinary revenues obtained from the one-time transfer of bank pension funds to the social security system. Investors, however, continue to express concern about the government's ability to achieve future budget deficit targets and obtain foreign financing to cover its sovereign debt obligations when the EU-IMF financing program expires in 2013. Without the option for stimulus measures, the government is focusing instead on boosting exports and implementing labor market and other structural reforms to try to raise GDP growth and increase Portugal's competitiveness - which, over time, may help mitigate investor concerns.

Source : CIA

 

 

Identification

 

 

Name

ETMA-EMPRESA TRANSFORMADORA DE MARMORES DO ALENTEJO SA

 

 

 

 

V.A.T. Number / NIF

500101566

Address

Lugar de Cabanas-Herdade de Vigaria, Apartado 27

 

 

Locality

VILA VICOSA

Postal Code

7160-999-VILA VICOSA

Municipality

VILA VICOSA

District

EVORA

Telephone

268887100, 268887140

 

 

Fax

268980657, 268408012

 

 

E-Mail

info@solubema.com

 

 

 

 

 

 

C.A.E.(Rev 3)

23701- Manufacture of marble and rocks similar

 

 

 

The classification of economic activities used is CAE Revision 3, adopted on 14 November 2007, which came to replace CAE Revision 2.1

 

All the amounts are express in Euros, otherwise you will be advised

 

 

 

Summary

 

 

Legal Form

Joint Stock Company

 

 

Constitution

01-08-1974

V.A.T. Number / NIF

500101566

Employees

91

Capital

1.500.000,00

Sales in : 31-12-2011

11.110.005,10

Shareholders Funds in: 31-12-2011

6.019.691,06

Condition

Normal

Tendency

Stationary

Financing

Guaranteed

Payments

Good

Actual Condition

In activity

 

 

 

 

Governing Bodies

 

 

Board of Director's

ANTONIO MACEDO DE CASTRO

Administrator

FRANCIS DIKRAN KEZIRIAN

Administrator

JOSE MANUEL FIGUEIRA DE SOUSA BARRETO

Delegate Administrator

PATRICE SERGE VARTAN KEZIRIAN

Administrator

ANNIE ELISABETH TARON

Administrator

JEAN KEZIRIAN

Board of Director's President

 

Fiscal Board

JACQUES DOS SANTOS

Fiscal Board President

MAZARS & ASSOCIADOS-SOCIEDADE REVISORES OFICIAIS DE CONTAS SA

Fiscal Board Vice-President

LEONEL MANUEL DIAS VICENTE

Fiscal Board Substitute

HENRIQUE JOSE MARTO OLIVEIRA

Fiscal Board Vice-President

 

Banks and Financial Institutions

 

 

CAIXA GERAL DE DEPOSITOS, SA

Vila Viçosa

BANCO ESPIRITO SANTO, SA

Estremoz

MILLENNIUM BCP

Estremoz

 

 

Historical

 

 

Registed on the Register Record Office of Vila Vicosa with the Register Number 500101566 previous number 72 in 01-08-1974

Constitution celebrated in 01-08-1974 published on Diário da República number 123 of 27-05-1974

To oblige the company it is necessary 2 signature

 

 

Changes to Society

 

 

In 31-03-2010 on Portal MJ of 16-12-2011 board of director's change

In 30-03-2007 on Portal MJ of 17-06-2008 board of director's change

In 26-03-2004 on Diário da República number 245 of 18-10-2004 board of director's change

In 20-12-2001 on Diário da República number 139 of 19-06-2002 board of director's change

In 24-03-1998 on Diário da República number 118 of 22-05-1998 board of director's change

 

 

Capital

 

 

The Capital is 1.500.000,00 , divided in 300000 shares , with a nominal value of 4,99

 

 

with the following shareholders

 

SOLUBEMA-SOCIEDADE LUSO-BELGA DE MARMORES SA

1.474.050,00

98,27%

 

 

Activities

 

 

Line of Business

Percentage

Manufacture of marble and similar rocks

100%

 

 

Employees

 

 

Total

91

 

 

Head Office and Installations

 

 

Head office and factory Lugar de Cabanas-Herdade de , Apartado 27, VILA VICOSA, 7160-999, VILA VICOSA, Tel:268887100, Fax:268980657

 

 

Incidents

 

 

There are no of incidents on our database

 

 

Business Concept

 

 

Consulted sources say that the subject has been respecting its payments and commercial commitments, so credit connections with this company are recommended.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.69

UK Pound

1

Rs.85.71

Euro

1

Rs.68.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.