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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
GILI Y CIA. LTDA.,
FEDERICO |
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Registered Office : |
Avda. Fermín Vivaceta
3598 – Conchalí, Santiago, XIII Region Metropolitana |
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Country : |
Chile |
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Date of Incorporation : |
25.01.1977. |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import of hardware, household wares, garden and sport articles. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Chile - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for more than one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides one-third of government revenue. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Since 1999, growth has averaged 4% per year. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 59 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico. Over the past seven years, foreign direct investment inflows have quadrupled to some $15 billion in 2010, but foreign direct investment had dropped to about $7 billion in 2009 in the face of diminished investment throughout the world. The Chilean government conducts a rule-based countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and allowing deficit spending only during periods of low copper prices and growth. As of November 2011, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $18 billion. Chile used this fund to finance fiscal stimulus packages during the 2009 economic downturn. In December 2009, the OECD invited Chile to become a full member, after a two year period of compliance with organization mandates, and in May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. The economy started to show signs of a rebound in the fourth quarter of 2009, and GDP grew 5.1% in 2010 and 6.5% in 2011. Chile achieved this growth despite the 8.8 magnitude earthquake that struck in February 2010, which was one of the top 10 strongest earthquakes on record. The earthquake and subsequent tsunamis it generated caused considerable damage near the epicenter, located about 70 miles from Concepcion - and about 200 miles southwest of Santiago.
|
Source : CIA |
GILI Y CIA. LTDA.,
FEDERICO
Avda. Fermín Vivaceta 3598 - Conchalí
Santiago
XIII Region Metropolitana
CHILE
Telephone :
56-2-8226000
E_Mail
: fed.gili@rdc.cl/hmiranda@federicogili.cl
Web Site :
www.federicogili.cl
Postal Code : 8551167
Started
: 1977
Total Employees : 100
Payments :
See Commercial Record
Capital
:
000's$ 295.697.-
Sic(s) : 5091 - 5191 - 5251
Line of Business: Import of hardware, household wares, garden and sport articles.
Financial statements could not be obtained, thus financial analysis can not be carried
out
Commercial Bulletin : As at 30/01/2013 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information
bulletin
Labor Bulletin : As at 30/01/2013 does not register work
infringements
Previsional bulletin :
As At 30/01/2013 registers social security
infringements
Previsional Detail
Date
:17/12/2012
Reason :Unpaid
declarations
Value :Ch$ 60.986,00.-
Months :1
Bulletin :139
Page :140917
Drawer : AFP
Provida
Consolidated delinquency : As at 30/01/2013, subject registers the following delinquent
bills
Detail of Delinquent Debts
Date :
27/08/2012
Note :
Invoice
Value :
Ch$ 484.516,00
Drawer :
Agencias Universales S.A.
City :
-
Date :
27/08/2012
Note
: Invoice
Value
: Ch$ 262.398,00
Drawer :
Agencias Universales S.A.
City :
-
No credit experiences to date were obtained
Detail of Former Trade References
--------------------------------------------------------------------------------
Owes
Last
Credit
Old Purch.
Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
20 years 05-07 Cash
checks
-
None
20 years 07-06 Cash
checks -
Since 1998 10-02 Prompt
checks
-
None
3 years
03-05 Prompt checks
-
-
20 years 03-05 Cash
checks
-
-
3 years 04-04 Prompt
checks
Open
-
3 years 04-04 Prompt
checks
-
-
Registers 2 unpaid documents and 1 work infringement included in the report.
During the last 6 months, the account holder credit history shows 27 credit
review inquiries requested by financial institutions, telecommunications and
insurance companies, industries, hardware stores.
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
Subject operates with the following banks:
- Banco Bice
- Banco Bilbao Vizcaya Argentaria, Chile
- Banco de Chile, main office Ahumada 251, Santiago
- Banco de Credito e Inversiones
- Banco Internacional
- Banco Penta
- Banco Santander Chile
- Banco Security
- BancoEstado
- Corpbanca
Line of Business : Import of industrial safety, products, hardware articles,
garden, household wares and sport articles: football,
volleyball, basketball, and others.
Classification according to commercial activity:
Sic: 5091-0000 Sporting and recreation goods
Sic: 5191-0000 Farm supplies
-9902 Garden supplies
Sic: 5251-0000 Hardware stores
-0100 Tools
Commercializes:
- PROVIDUS (TREKKING)
- GAMO, Compressed airguns
- TRAIN, MIKASA, MASTER, Balls
- WENGER, Penknives
- PGAU DOORS, Camping
- PG SAFETY, Safety
Subject is considered as a medium company in this line of business, normal
competition
Sales are steady throughout the year
100% wholesalers
National sales territory
Products are sold
National: 100%.
Sales conditions: Cash and term payments to 30, 45 & 60 days.
Not currently exporting.
Total
2009 = 000's$ 7.572
Total 2007 = 000's$ 9.830
Total 2005 = 000's$ 3.700
Not exporting currently
Main customers are:
Supermarkets, department stores.
The 4 most important customers are:
S.A.C.I. Falabella, Walmart Chile Comercial S.A., Sodimac
S.A., Cencosud
Retail S.A.
Places orders with multiple suppliers
National: 1%
International: 99%
Purchase conditions: 50% direct collection and 50% letter of credit.
Imports from Germany, Brazil, Canada, China, South Korea, El Salvador, Spain,
India, Italy, Mexico, Pakistan, Portugal, Switzerland, Taiwan and Thailand.
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
China
68,62 72,55
Italy
10,34 4,76
Spain
8,05 10,89
Germany
2,89 4,08
Taiwan
2,25 1,26
Brazil
2,24 1,12
South
Korea
1,21 0,00
Mexico
1,16 0,02
India
1,04 2,14
Pakistan
0,46 0,52
Portugal
0,43 0,20
El
Salvador
0,25 0,43
Switzerland
0,17 0,44
Thailand
0,14 0,38
Canada
0,08 1,02
Total 2011 = 000's$ 4.508.172 Accumulated 2012 = 000's$ 2.843.720
Total 2009 = 000's$ 2.366.420
Total 2007 = 000's$ 1.930.308
Total 2006 = 000's$ 1.632.508
Total 2005 = 000's$ 1.370.459
Total 2004 = 000's$ 1.191.347
- Agencia de Aduanas Hernan Pizarro Ramirez
- DHL Express (Chile) Ltda.
- Dimerc S.A.
Employees: 100 employees
Location
- Administration offices at Avda. Fermín Vivaceta 3598 Conchalí Santiago,
Chile, commercial area, avenue of normal traffic, construction in
good
conditions
Subject does not have any branch
Subject does not have any related company.
Real estates
Subject registers the following real estate
- Building, Mirador Azul 22 La Florida Santiago-Chile, Fiscal value of
000's$
24.221.-, rol Nº 51-41
However, it was informed that the above mentioned property was sold.
Owns vehicles for the company's use
1 station wagon Opel Combo, 2 vans Mitsubishi, 1 van Suzuki.
Equipments and machinery,
not specified
Insurance Company:
-Aseguradora Magallanes S.A.
Due
: Unspecified due dates
In force : Annual
Risks : Total
cover.
Objetive : Assets in general.
General Manager : Cristián Rodríguez Olivos
Commercial Mgr. & : Diego de la
Barra Gili
Partner
Sales Manager
: José Gili Ballester
Accountant
: Horacio Miranda
Assistant Accountant
: Carlos Barrera
Foreign Trade Assistant : Ximena Sauri
Legal Structure :
Limited Liability Partnership
Constitution date :
25/01/1977. Registered on leaf 1.082 N°598, Santiago
Trade
Registry year 1977, under the business name
FEDERICO
GILI E HIJOS LTDA.
Notary
: Alfredo
Astaburuaga Gálvez, Santiago
Term of duration :
5 Year automatically renewable for equal and successive periods
Legal Address : Santiago - Chile
Published in : Official Gazette dated 08/02/1977
page Nº 6
Current Social Capital : 000's$
295.697.-
Partner : 6
- 19,00% Montserrat Gili Ventura
- 19,00% María del Carmen Gili Ventura
- 19,00% Federico Gili Ventura
- 19,00% María Angélica Gili Ventura
- 19,00% Margarita Gili Ventura
- 5,00% Diego de la Barra Gili
Power of attorney held by partners, together General Manager.
Legal changes
Public Deed dated 28/09/1990, notary Marcela Fuentealba Roldán, Suplente
Humberto Quezada Moreno, Santiago, published in the Official Gazette dated
23/10/1990 page N° 10, capital was increased: from $17.200.000 to
$250.000.000.-
Public Deed dated 17/08/1998, notary Antonieta Mendoza Escalas, Santiago,
published in the Official Gazette dated 27/08/1998 page N° 30, statutes were
modified: confirmed capital in $250.000.000.-
Public Deed dated 24/08/2001, notary Antonieta mendoza Escalas, Santiago,
published in the Official Gazette dated 19/09/2001 page N° 30, partners were
modified: new partner is Diego de la Barra Gili.
Public Deed dated 22/01/2004, notary Antonieta Mendoza Escalas, Santiago,
published in the Official Gazette dated 11/03/2004 page N° 18, corporate name
was modified: FEDERICO GILI E HIJOS LTDA by FEDERICO GILI Y CIA LTDA.
At the same time, statutes were modified: a new text of statutes was
established.
(Rectified in official gazette March 18, 2004 page 20 and Mar 23, 2004 page
22)
Public Deed dated 04/11/2004, notary Fernando Alzate Claro, Santiago, published
in the Official Gazette dated 20/11/2004 page N° 20, capital was increased:
from
$250.000.000 to $295.697.014.-
On 28/08/2012 Miss.
Ximena Sauri, Foreign Trade Assistant, declined financial
figures, however, submitted the data shown in this report.
Address of Avda Fermín Vivaceta 3558 Conchali, and telephone numbers do not
exist.
-Other outside information sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.