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Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ROCSA COLOMBIA SA |
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Registered Office : |
Autopista Bogotá Medellín Km 1. Bodega 7 Cota Cundinamarca |
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Country : |
Colombia |
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Date of Incorporation : |
12.02.1997 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
Chemical importer and distributor. |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
Colombia |
A2 |
A2 |
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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 |
COLOMBIA - 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 has grown more than 4% per year
for the past three years, continuing almost a decade of strong economic
performance. All three major ratings agencies have upgraded Colombia's
government debt to 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 10.3% in 2012 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
implemented in 2012. Colombia has signed or is negotiating FTAs with a number
of other countries, including Canada, Chile, Mexico, Switzerland, the EU,
Venezuela, South Korea, Turkey, Japan, China, Costa Rica, Panama, and Israel.
Foreign direct investment - notably in the oil and gas sectors - reached a
record $10 billion in 2008 but dropped to $7.2 billion in 2009, before
beginning to recover in 2010, and reached a record high of nearly $16 billion
in 2012. Colombia is the third largest Latin American exporter of oil to the
United States, and the United States' largest source of imported coal. Inequality,
underemployment, and narcotrafficking remain significant challenges, and
Colombia's infrastructure requires major improvements to sustain economic
expansion.
Source
: CIA
GEOPOLITICS – COLOMBIA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic
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Currency: 100.00 COP = 0.0541528 USD |
IDENTIFICATION
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Legal Name: |
ROCSA COLOMBIA SA |
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Legal Address |
Autopista Bogotá Medellín Km 1. Bodega 7 Cota Cundinamarca Colombia. |
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Operative Address |
Autopista Bogotá Medellín Km 1. Bodega 7 Cota Cundinamarca Colombia. |
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Telephone: |
+(57-1) 896-6999 |
NIT : |
830027231-3 |
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Fax: |
+(57-1) 896-6999 Ext 2 |
Legal Form: |
Sociedad Anonima |
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Email: |
rocsacolombia@rocsa.com |
Registered in: |
Colombia |
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Website: |
www.rocsa.com |
Date Created: |
1997 |
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Manager: |
CARLOS ALBERTO YAIPEN LOLI, General manager and legal representative |
Date Incorporated: |
February 12th, 1997. |
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Staff: |
30 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Chemical importer and distributor. |
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BANKS
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Name of the Bank |
Bancolombia |
BUSINESS
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HISTORY |
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This company was founded in the year 1997. |
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PRINCIPAL ACTIVITY |
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This is a company dedicated to the importation and distribution of
chemicals and food ingredients for both local sale and direct ordering. |
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Products/Services description: |
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Its range of products include: Water treatment Personal care detergent aromatic Chemicals Paint, inks, plastics Textile, leather and paper Wines and liqueurs. Among others. |
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Sales are: |
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Wholesale |
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Clients: |
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Food, cosmetics companies and many other professionals of the industry
depending on the demand. |
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Operations area: |
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National, Local |
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The company imports from China, Korea, India, Germany and United
States. |
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The company exports to India and Peru. |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
on grounds of confidentiality. |
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Competitors: |
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AGUA VIVA LTDA CEMPRI LTDA BIOCHEMICAL LAB Amoquímicos Colquímicos SA |
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The subject employs 30 employee(s) |
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Comments on staff: |
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The staff number was provided during the interview. |
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PAYMENTS |
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No Complaints |
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LOCATION |
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Headquarters |
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This company is headquartered at Autopista Bogotá Medellín Km 1.
Bodega 7 Cota Cundinamarca Colombia. |
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Comments on location: |
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The company has 7 offices outsourced located in: Barranquilla, Colombia Medellin, Colombia Bucaramanga, Colombia Buenaventura, Colombia Bogota, Colombia Cali, Colombia Cartagena, Colombia |
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Branches: |
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No additional branches were reported. |
Shareholders - Manager -
Related Companies
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Shareholders Parent Company(ies): |
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This company is privately held and it has Mr. CARLOS ALBERTO YAIPEN LOLI
as one of the major shareholders. |
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Management: |
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CARLOS ALBERTO YAIPEN LOLI, General manager and legal representative CAMELO CARDENAS GLORIA INES, Tax auditor CLEMENCIA AVILA RODRIGUEZ, Accountant Ana Maria Peña, Importations manager Gonzalo Quintero, Commercial assistant Maria Clemencia Briceno, Commercial assistant |
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Related Companies: |
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The company is affiliated to the following companies: Printop BASF Corp. Friesland Campina Domo Martsons Food Corporation Among others. In addition, the subject has two subsidiaries: -Element Trading SAC Trade - Link |
Financials - COMMERCIAL TRENDS
AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Ana Maria Peña, Importations manager who refused to
provide us any financial data without knowing the name of the inquiring
party. |
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Currency |
DATE |
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COP |
2011 |
|
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Turnover |
35,299,694,000 |
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Operating Income |
1,508,408,000 |
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Net Income |
479,307,000 |
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Current Assets |
1,787,919,000 |
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Fixed Assets |
26,008,044,000 |
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Net worth |
5,589,208,000 |
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Liabilities |
22,206,755,000 |
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Bank liabilities |
16,496,363,000 |
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The cash flow is |
Medium |
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Currency |
DATE |
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COP |
2010 |
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Turnover |
33,810,540,000 |
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Operating
Income |
2,070,276,000 |
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Net
Income |
652,499,000 |
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Current
Assets |
2,077,004,000 |
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Fixed
Assets |
24,277,144,000 |
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Net
worth |
5,578,186,000 |
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Liabilities |
20,775,962,000 |
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Bank
liabilities |
17,467,006,000 |
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The
cash flow is |
Medium |
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Legal Filings |
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The sources consulted record no
detrimental legal or labor court information. |
Rating
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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. |
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Final Opinion |
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ROCSA COLOMBIA SA is a small sized Colombian company with 30 employees
and distributors nationwide. The subject has certain international presence and over 16 years of
experience. No collections or legal actions were traced against the subject during
the course of this investigation. Regarding the financial information released to our sources, this company
had a correct profitability for the year 2011. In addition, there was certain increase on the revenue on a 4% and the
banking liabilities decreased on a 6% in comparison with the year 2010. However the liabilities are still exceeding the company’s net worth. |
SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
HIGH |
Payments |
NO COMPLAINTS |
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Cash |
MEDIUM |
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APPENDIX
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Person Interviewed |
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Ana Maria Peña |
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Position |
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Importations manager |
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Comments |
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The person contacted kindly provided us with the following data: Staff number Bank that they work with Year of creation Nit number Name of one of the major shareholders Management positions. She was unwilling to provide us any further information though without
knowing the name of the solicitor. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.70.49 |
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 |
-- |
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.