MIRA INFORM REPORT

 

 

Report Date :

13.09.2012

 

IDENTIFICATION DETAILS

 

Name :

DACOMSA S.A. DE C.V.

 

 

 

 

Registered Office :

Calzada San Bartolo Naucalpan No.136, Col. Argentina Poniente, Deleg. Miguel Hidalgo 01123

 

 

 

 

Country :

Mexico

 

 

 

 

Date of Incorporation :

20.12.2002

 

 

 

 

Legal Form :

Stock Company of Variable Capital

 

 

 

 

Line of Business :

Trading of automotive spare parts for motor system, power plant system, and brake systems.

 

 

 

 

No. of Employees :

2,000 approx.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

(Without Financials)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MEXICO - ECONOMIC OVERVIEW

 

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico''s GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

DACOMSA S.A. DE C.V.

TRADE NAME

DACOMSA

TAXPAYER REGISTRATION

RFC DAC021220RF8

MAIN ADDRESS

Calzada San Bartolo Naucalpan No.136, Col. Argentina Poniente, Deleg. Miguel Hidalgo

POSTAL CODE

01123

PROVINCE / DEPARTAMENT

México, D.F.

COUNTRY

MEXICO

TELEPHONE

(5255) 57268200 - 57268203 - 57268224

WEB

www.dacomsa.com

COMMENTS

 
Toll Free Phone: 01 800 2078319
 

 

SUMMARY

 

Date of foundation

2002

Capital stock

Not specified

permanent employees

2,000 approx.

Chief Executive

CENTURION DIAZ, BENJAMIN

Disposition

Refused to give information (politely).

Payments policy

Without rating (No payment experience traced)

Credit (**)

Indeterminate, Information is insufficient. With no Experience.

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

20DEC2002

DURATION

99 years

CURRENT PAID-IN CAPITAL

Not specified

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

Ps$13.07 per US$1.= Dollar

COMMENTS

 
Dacomsa S.A. de C.V. is a 100% Mexican company that was incorporated on 20/12/2002 in Mexico City, but started opertating in 2003 as a merger of 3 trading companies in the automotive sector of the Desc Group, engaged in providing solutions for trading and distribution of products for the automotive spare part market in order to become a leader in the said market.
 
Dacomsa S.A. de C.V. meets needs of independent markets, export and original equipment. Its operations are strongly influenced by the independent market.
 
KUO in the Aftermarket Division is the owner of the plant of Pistones Moresa, TF Víctor and Fritec, products that are distributed and traded by Dacomsa.
 
On 31/10/2011, the KUO Group, together with Dacomsa S.A. de C.V. and Fritec entered into an agreement for acquiring the spare brake business under the brand Fritec, which has had over 30 years in the market. The agreement entered into force on 01/01/2012.
 
This acquisition will make Dacomsa S.A. de C.V., member of the Business Strategic Unit of Aftermarket of the KUO Group, one of the main companies in the spare brake market.
 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

CENTURION DIAZ, BENJAMIN

Aftermarket Director

 

 

 

 

WHO IS WHO?

 

CENTURION DIAZ, BENJAMIN

NATIONALITY

Mexican

CIVIL STATUS

Married

PROFESSION

Engineer

BACKGROUND INFORMATION

 
He has a wide experience in the automotive industry. He was granted by Refaccionarias Unidas de Jalisco (Rujac) the Caballero Azteca 2011 Award, which is an annual award granted to the most outstanding businessman for his professional work in the sector.
 

 

 

ASSOCIATED AS PER OUR DATABASE TO

COMPANY

TITLE

TAX REG

COUNTRY

DESC AUTOMOTRIZ COMERCIALIZADORA S.A. DE C.V.

Director General

DAC021220RF8

MEXICO

 

BUSINESS HISTORY

 

 
Subject is a member of the Business Strategic Unit of Aftermarket of the Group Kuo S.A.B. de C.V., which is a holding company acting as the majority shareholder of a group of companies, main activities of which are developed in the automotive, chemical and food industries.
 

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

GRUPO KUO S.A.B. DE C.V.

MEXICO

GKU9405181J8

Related

 

 

BUSINESS

SIC Classification
5 5 - AUTOMOTIVE DEALERS AND GASOLINE SERVICE STATIONS. (New and Used Car Dealers, auto and home supply stores, gasoline service stations.)

Main activity

 
Subject is engaged in trading of automotive spare parts for motor system, power plant system, and brake systems.
 
Sold brands: AUTOPAR, IEA, MORESA, RACE, TF VICTOR, TREMEC, VEHYCO, FRITEC, and SELLO V.
 

Import

Yes

Country

India, China, Israel, etc.; by direct credit

Export

Yes

COUNTRY

South American countries, USA, and Canada; by direct credit

% Credit SALES / Terms

100%

% Ventas exterior (Paises)

20%

% DOMESTIC PURCHASES

50%

% FOREIGN PURCHASES

50%

SELLING TerritorY

80% (Domestic market)

EMPLOYEES

2,000 approx.

 

LOCATION

 

OTHER PREMISES

 
Subject's tax residency, administrative offices and sales offices are located on the above-mentioned address. These facilities are located within a urban area in Mexico City.
 
It does not have any other premises.
 

Comments

 
Subject's customers include Navistar, Mercedes Benz, Volvo, Dina, Ford, General Motors, among others.
 
Dacomsa S.A. de C.V. participated in the Expotransporte 2011, which was carried out in Expo Guadalajara, where integration of the brand Fritec was already considered.
 

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Third-party sources

Disposition

Refused to give information (politely).

Information provided

 
All of information contained in this report was gathered from various third-party sources because subject refused to provide any information under confidentiality policies.
 
In consulted sources, it was not possible to obtain any updated balance sheets or estimated figures.
 

 

 

SALES

US$ 0.00 ()

Property of company comments

 
Subject's main assets include:
- Office furniture and equipment
- Computer equipment
- Vehicles
 

Insurance Comments

 
It was not obtained any information on insurances.
 

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS


(Confidential Information)

TRADE REFERENCES

Supplier: SPARBER MÉXICO INTERNACIONAL S.A. DE C.V.

Tel.: (5255) 55159282

Country: MEXICO

Goods/Services? : Intermodal transport services

 

 

Highest credit? : Variable

 

 

Client since? : Sv.years

Terms? : 15 days

Performance? : Prompt

Comments : Good customer

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

Comment

TRANSMISIONES Y EQUIPOS MECÁNICOS S.A. DE C.V.

MEXICO

 

T.F. VÍCTOR S.A. DE C.V.

MEXICO

 

PISTONES MORESA S.A. DE C.V

MEXICO

 

ESTEEM AUTO PVT. LTD.

INDIA

 

SHANGHAI KEVIN IMPORT & EXPORT CO., LTD.

CHINA

 

KING ENGINE BEARINGS, LTD.

ISRAEL

 

 

BANKERS

BANCO NACIONAL DE MEXICO S.A.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.26

UK Pound

1

Rs.88.85

Euro

1

Rs.71.13

 

 

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.