MIRA INFORM REPORT

 

 

 

Report Date :

04.10.2012

 

IDENTIFICATION DETAILS

 

Name :

OBRAS CIVILES ALVES C.A.

 

 

 

 

Registered Office :

Carrera 16, Nº 9, Sector Los Bloques (A Unos 50 Mts. De Av. Juncal) Maturin Estado Monagas

 

 

 

 

Country :

Venezuela

 

 

 

 

Date of Incorporation :

05.02.1999

 

 

 

 

Com. Reg. No.:

Nº 28, Volume A-2.

 

 

 

 

Legal Form :

Joint-Stock Company

 

 

 

 

Line of Business :

Construction of civil works, electrical, mechanical, and instrumentation.

 

 

 

 

No. of Employees :

05

 

 

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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)

Venezuela

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

VENEZUELA - ECONOMIC OVERVIEW

 

Venezuela remains highly dependent on oil revenues, which account for roughly 95% of export earnings, about 40% of federal budget revenues, and around 12% of GDP. Fueled by high oil prices, record government spending helped to boost GDP growth by 4.2% in 2011, after a sharp drop in oil prices caused an economic contraction in 2009-10. Government spending, minimum wage hikes, and improved access to domestic credit created an increase in consumption which combined with supply problems to cause higher inflation - roughly 28% in 2011. President Hugo CHAVEZ's efforts to increase the government's control of the economy by nationalizing firms in the agribusiness, financial, construction, oil, and steel sectors have hurt the private investment environment, reduced productive capacity, and slowed non-petroleum exports. In the first half of 2010 Venezuela faced the prospect of lengthy nationwide blackouts when its main hydroelectric power plant - which provides more than 35% of the country's electricity - nearly shut down. In May 2010, CHAVEZ closed the unofficial foreign exchange market - the "parallel market" - in an effort to stem inflation and slow the currency's depreciation. In June 2010, the government created the "Transaction System for Foreign Currency Denominated Securities" to replace the "parallel" market. In December 2010, CHAVEZ eliminated the dual exchange rate system and unified the exchange rate at 4.3 bolivars per dollar. In January 2011, CHAVEZ announced the second devaluation of the bolivar within twelve months. In December 2010, the National Assembly passed a package of five organic laws designed to complete the transformation of the Venezuelan economy in line with CHAVEZ's vision of 21st century socialism. In 2011, Venezuela continued to wrestle with a housing crisis, higher inflation, an electricity crisis, and rolling food and goods shortages - all of which were fallout from the government's unorthodox economic policies. The budget deficit reached around 5.2% of GDP in 2011, and public debt as a percent of GDP climbed steeply, despite record oil prices.

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

OBRAS CIVILES ALVES C.A.

TRADE NAME

OCIALCA

TAXPAYER REGISTRATION

RIF NOT OBTAINED

MAIN ADDRESS

Carrera 16, Nº 9, Sector Los Bloques (a unos 50 mts. de Av. Juncal)

PROVINCE / DEPARTAMENT

MATURIN

STATE / REGION

ESTADO MONAGAS

COUNTRY

VENEZUELA

TELEPHONE

(58291) 6425685 - 2860310

E-MAIL

malves@ocialca.net

WEB

www.ocialca.amawebs.com

COMMENTS

 
Fax: (58291)642.5685
 
This report REPLACES our previous report. Please find general additional information about the Company.

 

SUMMARY

 

Date of foundation

1999

Capital stock

BsF. 300,000.00 Bolívares Fuertes

permanent employees

05

Chief Executive

ALVES GOICETTY, MIRIANYELA

Disposition

Refused to give information for security reasons

Payments policy

Without rating (No payment experience traced)

Credit (**)

Indeterminate, Information is insufficient. With no Experience.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

DATE OF INCORPORATION

05FEB1999

PLACE OF REGISTRY

Maturín, State of Monagas

DURATION

20 years

REGISTRATION

Nº 28, Volume A-2.

CURRENT PAID-IN CAPITAL

BsF. 300,000.00 Bolívares Fuertes

LAST CAPITAL INCREASE

04/01/2001. Under Nº 41, Vol. A-2.

CLASS OF SHARES

Registered

LISTED AT STOCK EXCHANGE

No

SHARE VALUE

BsF. 1.00

CURRENT EXCHANGE RATE (US$)

BsF. 4,30 / US$ 1.00

COMMENTS

 
Board appointed on 27/04/2012, until 2019.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

ALVES GOICETTY, MIRIANYELA

President

97%

 

ALVES GOICETTY, CARMEN YRENE

Vice President

03%

 

MONTILLA SILVA, SANDRA MIRSULITH

General Manager

 

 

 

 

WHO IS WHO?

 

ALVES GOICETTY, MIRIANYELA

NATIONALITY

Venezuelan

 

 

 

 

ALVES GOICETTY, CARMEN YRENE

NATIONALITY

Venezuelan

 

 

 

 

MONTILLA SILVA, SANDRA MIRSULITH

NATIONALITY

Venezuelan

ID

CI 8269430

 

 

 

BUSINESS HISTORY

 

 
Founders:  JOAQUIN ALVES DA SILVA CRUZ
                     MIRIANYELA ALVES GOICETTY
 
On an unspecified date, Joaquin Alves Da Silva, sold his share to Carmen Yrene Alves Goicetty.
 
NOTE: The Government of the Republic of Venezuela decided currency redenomination, through a decree with the rank, value and force of law issued on 06/03/2007. From 01.01.2008, the official currency, the Bolivar (Bs) was replaced for a new one called Bolivar Fuerte (Bs.F), worth a thousand Bolivars.

 

 

BUSINESS

 

Main activity

 
Construction of civil works, electrical, mechanical, and instrumentation.
Design, engineering, and inspection of multidisciplinary projects.
Sale of building materials and electrical.
Engineering projects, roads, hydraulic, bridges, tunnels,  dikes, chemicals for the oil industry, etc.
Supply and personnel management.

SELLING TerritorY

East zone of the country

EMPLOYEES

05

LOCATION

OTHER PREMISES

 
Headquarters are centrally located at the above address.
 
Branches: Located in the town of Irapa (Sucre State), cities of Barcelona (Anzoategui), and Caracas.

Comments

 
Among Subject's clients are mentioned:
- Monagas State Government: Planning for Housing in Low Amano sector.
- PDVSA Petroleo:  Adaptation of offices for Education unit in Punta de Mata District.
- Mayor of Maturin: Restoring the Treasury Office
- Invialtmo: Rehabilitation of Guayuta Bridge in Piar Municipality
- PDVSA: Installation of Test Banks, safety valves in Jusepin Project.
- Petroquiriquire
- Petroleos de Venezuela - PDVSA
- PDVSA Gas
- 73 Hunters Brigade, etc.

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Mirianyela Alves

Position(s)

President

Disposition

Refused to give information for security reasons

Information provided

 
We interviewed Mrs. Mirianyela Alves, President, who after consulting with the other partners have DECLINED any cooperation.
 
All the information contained in this report has been collected from different external sources . We are trying to obtain a Balance Sheet.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
NN: UNDETERMINED
Subject's Financial Position is considered UNDETERMINED, since there are no financial figures allowing a financial analysis of the results in its last fiscal year.
 
It is registered in the National Register of Contractors, allowing it to bid, make contracts and / or negotiations with entities or government agencies; it is estimated a financial capacity to recuit of up to Bs. 45,138,528.00.
 
The same source pointed out the following financial ratios of 2011:
-Current ratio: 4.70
-Acid ratio: 4.70
-Accounts receivable turnover:  84,8 days
-Debt ratio: 0.19
-Profitability: 0.42 %

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

 

(Confidential Information)

TRADE REFERENCES

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.33

UK Pound

1

Rs.84.30

Euro

1

Rs.67.45

 

 

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.