MIRA INFORM REPORT

 

 

Report Date :

17.12.2013

 

IDENTIFICATION DETAILS

 

Name :

FANABOR ARTEFATOS DE BORRACHA LTDA

 

 

Registered Office :

Rua Rivera, 251 – Industrial 93.320-600 - Novo Hamburgo

 

 

Country :

Brazil

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

24.06.1993

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of rubber goods.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BRAZIL - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a somewhat more expansionary monetary policy that has failed to stimulate much growth.

 

Source : CIA

company name

 

FANABOR ARTEFATOS DE BORRACHA LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA RIVERA, 251 - INDUSTRIAL

ZIP CODE/CITY:

93.320-600 - NOVO HAMBURGO/RS

 

 

PHONE:

51 3275-9800

FAX:

51 3275-9800

E-MAIL:

everton@fanabor.com.br

WEB SITE:

www.fanabor.com.br

 

BRANCHES:

 

NOT AVAILABLE.

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF RUBBER GOODS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

24/06/1993

REGISTER DATE:

24/06/1993

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

72.378.987/0001-93

STATE REGISTER:

086/0256820

 

 

SHARE CAPITAL:

R$ 200.000,00

 

BOARD OF DIRECTORS:

 

 

 

PAULO SOLENO DE CARVALHO

MANAGING PARTNER

JOSE CARLOS TEIXEIRA DE SOUZA

MANAGING PARTNER

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

 

SHAREHOLDERS / PARTNERS:

 

 

 

PAULO SOLENO DE CARVALHO

50%

JOSE CARLOS TEIXEIRA DE SOUZA

50%

 

 

AFFILIATES / SUBSIDIARIES:

 

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR PARTNERS HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 

 MAXIFLEX ARTEFATOS DE BORRACHA LTDA - EPP

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON JUNE 24, 1993 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

PARTNERS:

 

PAULO SOLENO DE CARVALHO: BRAZILIAN, WIDOW, RESIDENTIAL ADDRESS AT RUA ARAGUAIA 630, APTO 201, CANOAS/RS, HOLDER OF DOCUMENTS RG 8010461526 SSP/RS, CPF 211.849.840-34.

 

JOSE CARLOS TEIXEIRA DE SOUZA: BRAZILIAN, MARRIED, RESIDENTIAL ADDRESS AT RUA CORONEL MARIO DOERNT 90, SÃO LEOPOLDO/RS, HOLDER OF DOCUMENTS RG 1010683553 SSP/RS, CPF 239.475.000-68.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MR. EVERTON, FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 30/06/2011, 31/12/2010 AND 31/12/2009.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

30/06/2011

31/12/2010

31/12/2009

 

 

 

 

CASH AND CASH EQUIVALENTS

80.580,89

58.749,25

141.268,73

CLIENTS

1.182.011,72

1.040.003,75

733.531,66

INVENTORY

87.608,85

75.874,85

53.497,89

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

1.350.201,46

1.174.627,85

928.298,28

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

MUTUAL CONTRACT

                138.949,92

138.949,92

138.949,92

 

----------------

----------------

----------------

TOTAL LONG-TERM RECEIVABLES

138.949,92

138.949,92

138.949,92

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

712.849,10

770.472,82

796.626,39

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

712.849,10

770.472,82

796.626,39

 

================

================

================

TOTAL ASSETS

2.202.000,48

2.084.050,59

1.863.874,59

 

LIABILITIES:

 

 

 

CURRENT:

30/06/2011

31/12/2010

31/12/2009

 

 

 

 

SUPPLIERS

5.775,94

1.085,80

18.660,00

SOCIAL OBLIGATIONS

581.996,61

560.958,95

492.353,33

LOANS AND FINANCING

604.006,31

372.152,46

197.657,77

MUTUAL CONTRACT

 

 

1.090,36

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

1.191.778,86

934.197,21

709.761,46

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

200.000,00

200.000,00

2.000,00

PROFIT (LOSS) OF PERIOD

-9.672,32

129.959,44

134.219,19

ACCRUED PROFIT (LOSS)

819.893,94

819.893,94

1.017.893,94

 

----------------

----------------

----------------

TOTAL NET EQUITY

1.010.221,62

1.149.853,38

1.154.113,13

 

================

================

================

TOTAL LIABILITIES

2.202.000,48

2.084.050,59

1.863.874,59

 

PROFIT AND LOSS ACCOUNTS AS OF 30/06/2011, 31/12/2010 AND 31/12/2009.

( FIGURES ARE IN REAIS ).

 

 

30/06/2011

31/12/2010

31/12/2009

 

 

 

 

GROSS SALES

2.032.938,23

3.572.925,33

2.713.228,07

(-) TAXES ON SALES

235.350,94

422.947,22

307.350,92

 

----------------

----------------

----------------

NET SALES

1.797.587,29

3.149.978,11

2.405.877,15

(-) COST OF SOLD GOODS

1.444.486,23

2.366.199,99

1.670.813,47

 

----------------

----------------

----------------

GROSS PROFIT

353.101,06

783.778,12

735.063,68

OPERATING REVENUE (EXPENSE)

-319.413,71

-537.338,09

-360.392,42

FINANCIAL REVENUE(EXPENSE)

-79.190,61

-78.629,08

-121.119,54

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

-45.503,26

167.810,95

253.551,72

CONTRIBUTION/INCOME TAX

-94.128,50

-148.210,52

-119.332,53

 

----------------

----------------

----------------

NET PROFIT (LOSS)

-139.631,76

19.600,43

134.219,19

 

RATIOS:

30/06/2011

31/12/2010

31/12/2009

 

QUICK RATIO

1,06

 

1,18

 

1,23

 

CURRENT RATIO

1,13

 

1,26

 

1,31

 

ACCOUNTS RECEIVABLE TURNOVER

1,52

TIMES

3,03

TIMES

3,28

TIMES

DAYS' SALES IN RECEIVABLES

118,36

DAYS

118,86

DAYS

109,76

DAYS

INVENTORY TURNOVER

16,49

TIMES

31,19

TIMES

31,23

TIMES

ACCOUNTS PAYABLE PERIOD

,72

DAYS

,17

DAYS

4,02

DAYS

RETURN ON ASSETS

,82

TIMES

1,51

TIMES

1,29

TIMES

SALES TURNOVER ON NET EQUITY

1,78

TIMES

2,74

TIMES

2,08

TIMES

NET WORTH TIE-UP

,71

 

,67

 

,69

 

INDEBTEDNESS

1,18

 

,81

 

,62

 

EQUITY RATIO

45,88

%

55,17

%

61,92

%

WORKING CAPITAL RATIO

13,29

%

25,74

%

30,79

%

GENERAL SOLVENCY

1,85

 

2,23

 

2,63

 

RETURN ON NET EQUITY

-13,82

%

1,70

%

11,63

%

RETURN ON SALES (PROFIT MARGIN)

-7,77

%

,62

%

5,58

%

GROSS PROFIT MARGIN

19,64

%

24,88

%

30,55

%

OPERATIONAL RESULT

-2,53

%

5,33

%

10,54

%

SALES TURNOVER ON LIABILITIES

1,51

TIMES

3,37

TIMES

3,39

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

US$ 1,00 = R$ 2,33

US$ 1,00 = R$ 1,56

US$ 1,00 = R$ 1,66

US$ 1,00 = R$ 1,74

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE ANNUAL FIGURES FOR 2010 SHOW A GOOD FINANCIAL STANDING. IT HAD GOOD LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL, AS WELL AS ACCEPTABLE LEVEL OF INDEBTEDNESS. SALES GREW BUT POSTED PROFIT.

 

THE INTERIM FIGURES FOR JUNE 2011 SHOW THAT THE LEVEL OF INDEBTEDNESS IS HIGH BUT IT HAS NORMAL LIQUIDITY AND POSITIVE WORKING CAPITAL. IT SHOWS GROWING SALES BUT POSTED LOSS.

 

REMARKS:

*********

 

THE COMPANY DID NOT PROVIDE CLARIFICATION ABOUT THE DIVERGENCES SHOWED IN THE BALANCE SHEET.

 

REAL ESTATE:

 

 OWNED PREMISES ARE VALUED AT R$ 245.000,00

 

VEHICLES:

 

 OWNED VEHICLES ARE VALUED AT R$ 431.708,40

 

MACHINES:

 

 OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 1.570.928,28

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO DO BRASIL S/A

51 3584-2300

 

BANCO BRADESCO S/A

51 3587-2333

 

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NOT RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

MANUFACTURE OF RUBBER GOODS. MANUFACTURE OF METALLIC CYLINDERS WITH RUBBER FOR THE GRAPHIC SECTOR.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

NOT AVAILABLE.

 

   EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

NOT AVAILABLE.

 

 

 

STAFF:

 

   NOT AVAILABLE

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1993. SO FAR IT HAS A CLEAR TRADE HISTORY AND MODEST PAYMENT BEHAVIOR.

 

THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER OF TRADE CREDIT FACILITIES.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

AÇOS FAVORIT DIST. LDA

 

51 3470-9000

AÇOTUBO INDUSTRIA E COMERCIO LTDA

 

51 2126-9418

AURIQUIMICA LTDA

 

11 6166-5600

CYA BUBBER LTDA

 

51 3205-3535

INTERQUIMICA COMERCIO INDUSTRIA PRODUTOS QUIMICOS

 

51 3568-1030

MBM PRODUTOS QUIMICOS LTDA

 

11 6166-5600

MERCANTE TUBOS E AÇOS LTDA

 

51 3374-2244

METALURGICA GOLIN S/A

 

11 2147-6500

PARABOR LTDA

 

11 2065-1305

PETER CHIMICAL INDUSTRIA E COMERCIO LTDA

 

51 3036-8181

TOPSUL COMERCIAL ELAST. E MIN. LTDA

 

51 3475-4770

TUBOS IPIRANGA INDUSTRIA E COMERCIO

 

51 3373-2100

 

PAYMENT HISTORY:

 

02 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 4.990,00

 

AMOUNT OF INVOICES PAID: 26

TOTAL OF PROMPT PAYMENTS: 90,9%

TOTAL OF DELAYED PAYMENTS: 9,1%

 

HIGHEST INVOICE: R$ 395,00

HIGHEST CREDIT: R$ 395,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 60 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

2

R$ 273,88

DUE WITHIN 60 DAYS

1

1

R$ 222,40

 

 

FINAL OPINION

 

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE ABOVE-MENTIONED FINANCIAL STANDING.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.10

UK Pound

1

Rs.101.27

Euro

1

Rs.85.43

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.