|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGRAF INDUSTRIAL SA |
|
|
|
|
Registered Office : |
Carrera 30 #11A-119 Arroyohondo (Yumbo) |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Year of Establishment : |
2000 |
|
|
|
|
Legal Form : |
Sociedad Anonima |
|
|
|
|
Line of Business : |
publishing and printing |
|
|
|
|
No. of Employees : |
50 to 100 |
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 |
|
Maximum Credit Limit : |
USD 80,000. |
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Colombia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Columbia - ECONOMIC OVERVIEW
Colombia's consistently sound economic policies and aggressive promotion of free trade agreements in recent years have bolstered its ability to face external shocks. Real GDP grew 5.7% in 2011 and inflation ended 2011 at 3.7%, continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia''s investment grade. Nevertheless, Colombia depends heavily on oil exports, making it vulnerable to a drop in oil prices. Economic development is stymied by inadequate infrastructure, weakened further by recent flooding. Moreover, the unemployment rate of 10.8% in 2011 is still one of Latin America''s highest. The SANTOS Administration''s foreign policy has focused on bolstering Colombia''s commercial ties and boosting investment at home. The US-Colombia Free Trade Agreement (FTA) was ratified by the US Congress in October 2011 and is pending implementation in 2012. Columbia has signed or is negotiating FTAs with a number of other countries, including Canada, Chile, Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, and Israel. Foreign direct investment - notably in the oil sector - reached a record $10 billion in 2008 but dropped to $7.2 billion in 2009, before beginning to recover in 2010, and it appears to have reached a record high $13 billion in 2011. Colombia is the third largest Latin American exporter of oil to the US. Inequality, underemployment, and narcotrafficking remain significant challenges, and Colombia''s infrastructure requires major improvements to sustain economic expansion. In late 2010, Colombia experienced its most severe flooding in decades with damages estimated to exceed $6 billion. The rains resumed in 2011 causing further damages to crops and infrastructure as well as killing hundreds of Colombians and displacing millions.
|
Source : CIA |
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: Republic
|
Currency: 100.00 COP = 0.0555092 USD |
|
Legal Name: |
AGRAF INDUSTRIAL SA |
||
|
Legal Address |
Carrera 30 #11A-119 Arroyohondo (Yumbo)- Colombia. |
||
|
Operative Address |
Carrera 30 #11A-119 Arroyohondo (Yumbo)- Colombia. |
||
|
Telephone: |
(57-2)690-59-83 (57-2)690-59-84 / (57-2)690-59-85 |
NIT : |
805017279 - 2 |
|
Fax: |
NA |
Legal Form: |
Sociedad Anonima |
|
Email: |
NA |
Registered in: |
Colombia |
|
Website: |
Date Created: |
2000 |
|
|
Manager: |
Vaang Knodsen, Manager |
Date Incorporated: |
NA |
|
Staff: |
50 to 100 |
Stock: |
NA |
|
|
|
Value: |
NA |
|
Activity: |
publishing and printing |
||
|
Name of the Bank |
Bancolombia |
|
HISTORY |
|
|
|
This company was created in the year 2005. |
|
PRINCIPAL ACTIVITY |
|
|
|
The structure is dedicated to the Conversion of paper, and Flexible
packaging. It provides Design Service and Buyer Labels to different industries in
the local and international market. |
|
Products/Services description: |
|
|
|
Some of the products offered are raps, reams, packaging, printing and
film, among others. |
|
Sales are: |
|
|
|
Wholesale, Retail |
|
Clients: |
|
|
|
Food, candies, paper industries, among other professionals of the
industry. |
|
Operations area: |
|
|
|
National, International, Local |
|
The company imports from Asia mainly. |
|
|
The company exports to South America, Central America and Caribbean
Islands |
|
|
Trade References: |
|
|
|
The person contacted refused to provide the names of their suppliers
on grounds of confidentiality. |
|
Competitors: |
|
|
|
Janer Tesch Hosken Alvarenga Gomez Valderrama Jose Luis Motoborda S.A. Haug Matthias Cancela Kieffer Michaela |
|
The subject employs 50 to 100 employee(s) |
|
|
Comments on staff: |
|
|
|
The mentioned information was not confirmed with the staff. |
|
PAYMENTS |
|
|
|
regular |
|
LOCATION |
|
|
Headquarters |
|
|
|
This company is headquartered at Carrera 30 #11A-119 Arroyohondo
(Yumbo)- Colombia. |
|
Branches: |
|
|
|
No additional locations were found for this company. This information could not be verified. |
Manager - Related
Companies
|
Shareholders Parent Company(ies): |
|
|
|
This is a privately held company. Despite our long searches it has not
been possible to identify the shareholders. |
|
Management: |
|
|
|
Vaang Knodsen, Manager The mentioned management could not be verified. |
|
Related Companies: |
|
|
|
The subject has a related company located in Cali Colombia. Acabados Graficos S.A Calle 24 # 6-66 Cali Colombia Phone: (57-2)681-46-69 However we were unable to determine the exact relation on grounds of
confidentiality. |
- COMMERCIAL TRENDS AND FORECAST
|
As a private company the subject does not publish any financial
statements. |
|
We have contacted a male representative who refused to provide us any
financial data without knowing the name of the inquiring party. |
|
However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
|
Currency |
DATE |
|
COP |
2011 |
|
Turnover |
22,250,597,000 |
|
Operating Income |
1,424,043,000 |
|
Net Income |
633,674,000 |
|
Current Assets |
5,997,817,000 |
|
Fixed Assets |
7,417,292,000 |
|
Net worth |
5,729,264,000 |
|
Liabilities |
7,655,845,000 |
|
Bank liabilities |
1,643,053,000 |
|
The cash flow is |
Medium |
|
Comments on the financial data: Although this information
was not confirmed with the company, it was gathered from our official
sources. |
|
Legal Filings |
|
The sources consulted record no
detrimental legal or labor court information. |
|
Local credit bureau gave a correct credit rate.
The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
|
|
Final Opinion |
|
|
|
Agraf Industrial SA is a medium sized company employing about 50 to 100
people and having over 12 years of experience in the market. The Structure is ISO 9001 certified, having this way the advantage to
operate as a trustable supplier. There were no legal filings found against the company or its legal
representatives. In regards to the financial information obtained through our sources,
the company had a correct profitability for the year 2011. Although indebtedness are high, the structure is in a good trend and
the payments are made on a regular basis. At this point, considering the company’s trend but keeping in mind its
indebtedness. We consider a credit line in the range of USD 80,000. In order to provide them a higher credit line, we recommend a review
within six to eight months to check the company’s evolution. |
|
|
|
||
|
Profitability |
CORRECT |
Public |
NO |
|
Indebtedness |
HIGH |
Payments |
REGULAR |
|
Cash |
NORMAL |
|
|
|
Person Interviewed |
|
|
|
Male representative from accounting |
|
Comments |
|
|
|
The person contacted refused to cooperate with the interview without
knowing the name of the solicitor. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
|
UK Pound |
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
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.