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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
OBRAS CIVILES ALVES |
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Registered Office : |
Carrera 16, Nº 9, Sector Los Bloques, Maturin Estado Monagas |
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Country : |
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Date of Incorporation : |
05.02.1999 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Construction of civil works, electrical, mechanical, and instrumentation. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Venezuela |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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CORRECT COMPANY NAME |
OBRAS CIVILES
ALVES C.A. |
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TRADE NAME |
OCIALCA |
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TAXPAYER REGISTRATION |
RIF NOT OBTAINED |
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MAIN ADDRESS |
Carrera 16, Nº 9, Sector Los Bloques, |
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PROVINCE / DEPARTAMENT |
MATURIN |
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STATE / REGION |
ESTADO MONAGAS |
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COUNTRY |
VENEZUELA |
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TELEPHONE |
(58291) 6425685 |
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E-MAIL |
malves@ocialca.net |
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WEB |
www.ocialca.amawebs.com |
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LEGAL BACKGROUNDS
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
05FEB1999 |
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PLACE OF REGISTRY |
Maturín, State of Monagas |
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REGISTRATION |
Nº 28, Volume A-2. |
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CURRENT PAID-IN CAPITAL |
BsF. 300,000.00 Bolívares Fuertes |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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SHARE VALUE |
BsF. 1.00 |
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CURRENT EXCHANGE RATE (US$) |
BsF. 4,30 / US$ 1.00 |
DIRECTORS - EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO?
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ALVES GOICETTY,
MIRIANYELA |
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NATIONALITY |
Venezuelan |
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ALVES GOICETTY,
CARMEN YRENE |
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NATIONALITY |
Venezuelan |
BUSINESS
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Main activity |
Construction of civil works, electrical, mechanical, and instrumentation.Design, engineering, and inspection of multidisciplinary projects.Sale of building materials and electrical.Supply and personnel management. |
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FINANCIAL INFORMATION
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Interviewee(s) |
Mirianyela Alves |
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Position(s) |
President |
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Disposition |
Refused to give information for security
reasons |
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Information provided |
We interviewed Mrs. Mirianyela Alves, President, who after consulting with the other partners have DECLINED any cooperation. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINEDSubject's Financial Position is considered UNDETERMINED, since there are no financial figures allowing a financial analysis of the results in its last fiscal year. |
TRADE REFERENCES, CREDIT
BUREAU, LAWSUITS, BANKS
(Confidential Information) |
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TRADE REFERENCES |
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CREDIT HISTORY Despite our searches, we were not able to find information about the company's suppliers, situation preventing us from assessing its payment. |
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BANKERS Not ascertained. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.90 |
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1 |
Rs.87.60 |
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Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.