|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INGENIERIA Y FILTRACION LTDA |
|
|
|
|
Registered Office : |
Carrera 15 No.58-04 B. El Trebol Cali, Valle |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.03.2000 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of industrial filters and mesh. Main product: sheets, piping, accessories, shafts, stainless wire, stainless woven wire mesh. |
|
|
|
|
No. of Employees : |
Not Available |
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 |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Colombia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
IDENTIFICATION |
|
|
COMPANY NAME |
INGENIERIA Y FILTRACION LTDA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
8050161997 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Carrera 15 No.58-04 B. El Trebol |
|
CITY/PROVINCE/STATE |
Cali, Valle |
|
PHONE NUMBER(S) |
(57-2) 441.7990 |
|
FAX NUMBER |
(57-2) 443.3581 |
|
|
contador@ingefilter.com |
|
WEB SITE |
www.ingefilter.com |
|
COMMENTS OF IDENTIFICATION.- |
The report was ordered as: CALI VALLE. Please be advised that the correct company name is as shown in caption. Also, this report was requested with address: Carrera 15 No 58-04 Esquina. Please be noticed that the correct and complete form of this address is as mentioned above. |
|
BOARD OF
DIRECTORS-EXECUTIVES |
||
|
NAME |
JOB TITLE |
% STAKE |
|
SIERRA PINTO, JOSE LUIS |
Manager/Legal Representantive |
66.8% |
|
SIERRA PEREZ, HERNAN |
Alternate Legal Rep. |
|
|
DIAZ OSPINA, MARIA ANGELA |
Statutory Auditor |
|
|
SIAZ SAAVEDRA, JAIME ANDRES |
Alternate Statutory Auditor |
|
|
WHO IS WHO? |
|
SIERRA PINTO, JOSE LUIS |
|
ID, 16917396, . |
|
SIERRA PEREZ, HERNAN |
|
ID, 9512825, . |
|
DIAZ OSPINA, MARIA ANGELA |
|
ID, 41936033, . |
|
SIAZ SAAVEDRA, JAIME ANDRES |
|
ID, 94428988, . |
No negative information found
|
PAID-UP CAPITAL |
Ps$350,000,000.00 Pesos |
|
LAST CAPITAL INCREASE |
Last known |
|
SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
QUIROGA VASQUEZ, LUZ ELI |
Shareholder |
33.2% |
|
WHO IS WHO? |
|
QUIROGA VASQUEZ, LUZ ELI |
|
ID, 31870269, . |
|
PAYMENT HISTORY |
EP. A: PAYMENTS USUALLY PROMPT |
|
% CASH SALES/PAYMENT METHOD |
30% |
|
% CREDIT SALES/TERMS |
70% (Terms at 60 days) |
|
TERRITORY OF SALES |
50% (Domestic market) |
|
% FOREIGN SALES |
50% |
|
IMPORTS |
|
|
YEAR |
2013 (January - November) |
|
AMOUNT |
US$ 86,322.27 |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 116,028.03 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 210,947.23 |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 159,630.08 |
|
EXPORTS |
|
|
YEAR |
2013 (January - November) |
|
AMOUNT |
US$ 39,618.90 |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 45,704.01 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 38,263.37 |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 64,594.63 |
PAYMENTS
|
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
Several years ago |
|
MONTHLY AVERAGE |
Ps$2,000,000.00 Pesos |
|
DEADLINES |
Terms at 30 days |
|
PRODUCTS SOLD |
Diverse products |
|
RATING |
PROMPT |
|
COMMENTS.- |
Good client Last purchase: December 2013 |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$10,000,000.00 Pesos |
|
SUPPLIER FROM |
Several years ago |
|
DEADLINES |
Terms at 30 days |
|
PRODUCTS SOLD |
Diverse products |
|
RATING |
PROMPT |
|
COMMENTS.- |
Excellent client Last purchase: December 2013 |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$6,000,000.00 Pesos |
|
SUPPLIER FROM |
Several years ago |
|
DEADLINES |
Terms at 30 days |
|
PRODUCTS SOLD |
Diverse products |
|
RATING |
PROMPT |
|
COMMENTS.- |
Good client Last purchase: December 2013 |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$10,000,000.00 Pesos |
|
SUPPLIER FROM |
Several years ago |
|
DEADLINES |
Terms at 60 days |
|
PRODUCTS SOLD |
Diverse products |
|
RATING |
PROMPT |
|
COMMENTS.- |
Excellent client Last purchase: December 2013 |
|
|
|
|
CREDIT FILES |
|
|
Other local consulted suppliers do not provide trade references on clients per company policies. |
|
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
AINOX LTDA |
|
(57-2) 889.0806 |
|
COLTRANS S.A.S. |
|
(57-1) 423.9300 |
|
CREDIVALORES CREDISERVICIOS S.A.S. |
|
(57-1) 313.7500 |
|
DHL EXPRESS COLOMBIA LTDA |
|
(57-1) 749.9700 |
|
DIMETALES S.A.S. |
|
(57-1) 247.5041 |
|
FERRETERIA METRO CALI LTDA |
|
(57-2) 884.1609 |
|
FERRETERIA NIPLES YA S.A.S. |
|
(57-2) 446.4969 |
|
ICOMALLAS S.A. |
|
(57-2) 442.4866 |
|
IMPORINOX S.A. |
|
(57-2) 487.7000 |
|
IMPORTADORA COMERCIAL Y CIA. LTDA. |
|
(57-5) 664733 |
|
LAMINAS Y CORTES INDUSTRIALES S.A. |
|
(57-2) 524.1714 |
|
MALLAS ESPECIALES E.U. |
|
(57-1) 247.5258 |
|
REZNIK VODOVOZ, MORY |
|
(572) 443.1357 |
|
SUPERVISION ELECTRONICA WHITE EAGLE LTDA. |
|
(57-1) 565.5555 |
|
TELE CARS S.A. |
|
(57-1) 420.8686 |
|
TRANSPORTADORA COMERCIAL COLOMBIA S.A. |
|
(57-4) 444.4888 |
N/a
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
All the information comprised in this report has been gathered through outside sources since it was not possible to interview the subject's main executives due to their busy agenda. Through outside sources, we obtained the subject's Balance Sheets as of 31/12/2012 and 31/12/2011 (12 months, each one), expressed in Pesos, as follows: |
GENERAL BALANCE SHEET
|
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
1,662,307,000.00 |
1,939,948,000.00 |
-14.31 |
|
.Net Fixed |
2,279,132,000.00 |
2,349,078,000.00 |
-2.98 |
|
.Total Assets |
3,941,439,000.00 |
4,289,026,000.00 |
-8.10 |
|
.Total Current Liabilities |
1,346,727,000.00 |
1,983,784,000.00 |
-32.11 |
|
.Long Term Accounts |
410,151,000.00 |
|
|
|
Total Liabilities |
1,756,878,000.00 |
1,983,784,000.00 |
-11.44 |
|
Total Equity |
2,184,561,000.00 |
2,305,242,000.00 |
-5.24 |
|
Total Liabilities and Equity |
3,941,439,000.00 |
4,289,026,000.00 |
-8.10 |
|
PROFIT AND LOSS ACCOUNT |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
3,161,626,000.00 |
2,923,994,000.00 |
8.13 |
|
Profit(loss) |
114,315,000.00 |
67,687,000.00 |
68.89 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
315,580,000.00 |
-43,836,000.00 |
-8.20 |
|
.CREDIT RATING |
1.23 |
0.98 |
0.26 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
2.24 |
2.16 |
0.04 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
0.80 |
0.68 |
0.18 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL COMMENTS.- |
|||
|
COUNTRY CONTEXT - COLOMBIA: The below Country comments were obtained from a highly regarded public source that issues economic comments on all of World's countries. Taxes: · Colombian income tax: 38.5% on the net profit-business:. · Tax agreements with the Andean Community and Spain which allow residents in this countries to have a special tax treatment. · Alphabetic currency code for every country, established by the International Organization for Standardization (ISO) 4217: Colombian Peso (COP) Main economic indicators: · External debt: US $73.41 billion (31 December 2012 est.) · International reserves: US$34.74 billion (31 December 2012 est.) · Inflation rate forecasted: 3.2% (2012 est.) · GDP growth rate: 4.3% (2012 est.) · Annual GDP per capita: US$10,700 (2012 est.) · GDP - composition by sector: agriculture: 6.8% industry: 38.1% services: 55.1% (2012 est.) · Labour force of 23.08 million people divided by: agriculture: 18% industry: 13% services: 68% · Unemployment rate: 10.3% (2012 est.) Productive sectors: Agriculture - products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products · Industrial - products: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds Foreign trade: Exports: US$59.96 billion (2012 est.) country comparison to the world: 55 Exports - commodities: petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel Exports - partners: US 42%, Netherlands 4.7%, China 4.2% (2011) Imports: US$55.49 billion (2012 est.) country comparison to the world: 54 Imports - commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity Imports - partners: US 29.2%, China 11.9%, Mexico 11.5%, Brazil 5.3% (2011) Final brief: Commercial Country Risk: MEDIUM Political Country Risk: LOW |
|||
|
DETAILS OF FIXED ASSETS.- |
|||
|
- Premises at heading address |
|||
|
RATE OF EXCHANGE |
US$1.00 = Ps$1,934.1 |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Limited Liability Company |
|
INCORPORATION DATE |
03/03/2000 |
|
REGISTERED IN |
Cali |
|
DURATION |
03/03/2020 |
|
NOTARY OFFICE |
No.12, Cali |
|
REGISTRATION |
Deed No.640 |
|
NET WORTH |
Ps$2,184,561,000.00 Pesos (as of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
COMMENTS ON LEGAL ASPECTS .- |
|
|
The subject was registered at the Mercantile Registry of the Cali Chamber of Commerce, under Certificate No.0530281. |
|
|
OPERATIONS |
|
|
SECTOR |
1.-INDUSTRY |
|
ACTIVITY |
DIVERSE PRODUCTS |
|
ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION, PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
2899-Manufacture of not specified diverse metal products |
|
MAIN ACTIVITY |
Manufacture of industrial filters and mesh. Main product: sheets, piping, accessories, shafts, stainless wire, stainless woven wire mesh. |
|
LOCATION |
|
TAX DOMICILE: Located at the heading address. Own premises. PLANT: Calle 1 No.28A-346, Yumbo. |
|
COMMENTS OF
OPERATIONS.- |
|
The subject was granted the Quality Management Certificate ISO 9001:2008. Imports come from Mexico, USA, China, Switzerland, Korea, India, Chile, Belgium and Spain. Exports go to Peru, Ecuador, Mexico, Spain, Panama, Nicaragua and Costa Rica. |
|
BANKERS / REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO COOMEVA SA |
|
|
(57-2) 333.0000 |
COLOMBIA |
|
BANK COMENTS |
||||
|
The above bank does not provide information about clients by preserving confidentiality of bank-client information. |
||||
|
COMMENTS: A 13-year-old industrial company in the national and international market. Besides, it registers positive financial figures. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.