|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIM CELULAR S/A |
|
|
|
|
Registered Office : |
Avenida Giovani Gronchi, 7143 - Vila Andrade 05724-005 - São Paulo/Sp |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.12.2000 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Subject is engaged in the mobile telecommunication services. |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make 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 exchanges 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.
|
Source : CIA |
TIM CELULAR S/A
|
MAIN ADDRESS: |
AVENIDA GIOVANI GRONCHI, 7143 - VILA ANDRADE |
|
ZIP CODE/CITY: |
05724-005 - SÃO PAULO/SP |
|
|
|
|
PHONE: |
11 4119-6000 |
|
FAX: |
11 4119-6000 |
|
E-MAIL: |
bcarvalho@timbrasil.com.br |
|
WEB SITE: |
www.timcelular.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
AVENIDA PIRACEMA, 1061 - MÓDULO 07 |
|
ZIP CODE/CITY: |
06460-030 BARUERI/SP |
|
|
|
|
ADDRESS: |
AVENIDA DAS AMÉRICAS, 3434 - 6º ANDAR - BLOCO 1 |
|
ZIP CODE/CITY: |
RIO DE JANEIRO/RJ |
|
PHONE: |
21 4009-3976 |
|
|
|
|
ADDRESS: |
RUA COMENDADOR ARAÚJO, 299 - MÓDULO 8-B - CENTRO |
|
ZIP CODE/CITY: |
80420-000 CURITIBA/PR |
|
|
|
|
ADDRESS: |
AVENIDA AYRTON SENNA DA SILVA, 1633 - PIEDADE |
|
ZIP CODE/CITY: |
54410-240 JABOATÃO DOS GUARARAPES/PE |
|
PHONE: |
81 3302-2500 |
THE COMPANY ALSO HAS OTHER BRANCHES LOCATED IN: APARECIDA DE GOIANIA,
ANANINDEUA, ARACAJU, BELO HORIZONTE, BELEM, BARUERI, BAURU, BRASILIA, BOA
VISTA, CASTANHAL, CANOAS, CAMPINAS, CUIABA, CAMPO GRANDE, CAMPOS DO GORDÃO,
CAXIAS DO SUL, CURITIBA, DUQUE DE CAXIAS.
MAIN ACTIVITIES:
SUBJECT IS ENGAGED IN THE MOBILE TELECOMMUNICATION SERVICES.
|
LEGAL FORM: |
PRIVATELY HELD
CORPORATION |
|
|
|
|
INCORPORATION DATE: |
15/12/2000 |
|
REGISTER DATE: |
15/12/2000 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
04.206.050/0001-80 |
|
STATE REGISTER: |
116.049.102.113 |
|
|
|
|
SHARE CAPITAL: |
R$ 9.434.215.719,87 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
ANDREA MANGONI |
PRESIDENT DIRECTOR |
|
CLAUDIO ZEZZA |
FINANCIAL DIRECTOR |
|
ANTONIO RUGGIERO |
DIRECTOR |
|
MARIO GIRASOLE |
DIRECTOR |
|
DANIEL JUNQUEIRA PINTO HERMETO |
DIRECTOR |
|
LORENZO FEDERICO ZANOTTI LINDNER |
DIRECTOR |
|
ROGER SOLE RAFOLS |
DIRECTOR |
|
JAQUES HORN |
DIRECTOR |
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
TIM PARTICIPAÇÕES S/A |
100% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
MAXITEL TELECOMUNICAÇÕES LTDA |
|
|
INTELIG TELECOMUNICAÇÕES LTDA |
|
THE SUBJECT WAS ESTABLISHED ON DECEMBER 15, 2000 AS STARCEL S/A. IN
AUGUST 2001 IT ALTERED TO TIM SÃO PAULO S/A. ON APRIL 12, 2002 CHANGED TO
PORTALE SÃO PAULO S/A.
IN DECEMBER 2002 IT TOOK OVER THE COMPANIES PORTALE RIO NORTE S/A AND
TIM CELULAR CENTRO SUL S/A.
ON JANUARY 22, 2003 THE COMPANY ALTERED ITS CORPORATE NAME FROM PORTALE
SÃO PAULO S/A, TO THE PRESENT REGISTERED ONE.
SUBJECT'S PARENT COMPANY IS TIM BRASIL S/A, WHICH IS PART OF THE TELECOM
ITALIA MOBILE GROUP, ONE OF EUROPE'S LARGEST MOBILE OPERATORS AND BELONGS TO
THE OLIVETTI GROUP. IN JULY 2001 THE OLIVETTI GROUP BECAME CONTROLLED BY THE
COMPANIES PIRELLI AND EDIZIONE HOLDING.
ON JANUARY 22, 2003 THE COMPANY ALTERED ITS CORPORATE NAME FROM PORTALE
SÃO PAULO S/A, TO THE PRESENT REGISTERED ONE.
ON SEPTEMBER 17, 2002 THE NATIONAL TELECOMMUNICATIONS AGENCY - ANATEL
GRANTED THE AUTHORIZATION TO THE COMPANY TIM CELULAR CENTRO SUL S/A, AND POTALE
RIO NORTE S/A, RESPECTIVELLY TO RENDER PERSONAL MOBILE SERVICES SMP. THE
OPERATIONS STARTED ON NOVEMBER 2002.
THE ANATEL AUTHORIZED THE TAKEOVER OF THE COMPANIES PORTALE RIO NORTE
S/A AND TIM CELULAR CENTRO SUL S/A. BY THE SUBJECT COMPANY.
TIM PARTICIPACOES S.A. (TIM PARTICIPACOES) IS A WIRELESS PROVIDER IN BRAZIL.
TIM SUL S.A. (TIM SUL) AND TIM NORDESTE TELECOMUNICACOES S.A. (TIM NORDESTE)
ARE THE COMPANY'S WHOLLY OWNED SUBSIDIARIES. TIM SUL PROVIDES MOBILE TELEPHONY
SERVICES IN THE STATES OF PARANA, SANTA CATARINA, AND IN THE CITIES OF PELOTAS,
CAPAO DO LEAO, MORRO REDONDO AND TURUCU, IN THE STATE OF RIO GRANDE DO SUL. TIM
NORDESTE PROVIDES MOBILE TELEPHONY SERVICES IN THE STATES OF ALAGOAS, CEARA,
PIAUI, RIO GRANDE DO NORTE, PARAIBA AND PERNAMBUCO. THE COMPANY OFFERS
VALUE-ADDED SERVICES, INCLUDING SHORT MESSAGE SERVICES OR TEXT MESSAGING,
MULTIMEDIA MESSAGING SERVICES (MMS), PUSH-MAIL, BLACKBERRY SERVICE, VIDEO CALL,
TURBO MAIL, WIRELESS APPLICATION PROTOCOL (WAP) DOWNLOADS, WEB BROWSING,
BUSINESS DATA SOLUTIONS, SONGS, GAMES, TELEVISION ACCESS, VOICE MAIL,
CONFERENCE CALLING, CHATS, AND OTHER CONTENT AND SERVICES.
ACCORDING WITH THE EXTRAORDINARY GENERAL MEETING HELD ON JUNE 30, 2006,
ON MARCH 16, 2006, THE COMPANY TIM PARTICIPAÇÕES S.A. ACQUIRED ALL OF THE
SHARES OF TIM CELULAR S.A. ON MARCH 30, 2006 TIM CELULAR S.A. TOOK OVER ITS
SISTER COMPANY CRC CENTRO DE RELACIONAMENTO COM CLIENTES LTDA AND BLAH! S/A DE
SERVIÇOS E COMÉRCIO AND ON JUNE 07, 2006 TIM CELULAR S.A. TOOK OVER TIM SUL S/A
ACQUIRING ALL ITS ASSETS AND LIABILITIES.
ON DECEMBER 31,
2009 SUBJECT TOOK OVER THE SUBSIDIARY TIM NORDESTE S.A.
ON SEPTEMBER 21, 2012 THE COMPANY TOOK OVER TIM FIBER SP LTDA, CNPJ
02.875.211/0001-01.
DIRECTORS:
ANDREA MANGONI: RESIDENTIAL ADDRESS AT VIA CORSO C`ITALIA, N 41, ROMA,
ITALY;
CLAUDIO ZEZZA: ITALIAN, HOLDER OF DOCUMENTS CPF 060.808.147-73,
RESIDENTIAL ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 1, 6º ANDAR, BARRA DA
TIJUCA, RIO DE JANEIRO/RJ;
DANIEL JUNQUEIRA PINTO HERMETO: BRAZILIAN, HOLDER OF DOCUMENTS CPF
004.078.756-70, RESIDENTIAL ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 6, 6º
ANDAR, BARRA DA TIJUCA, RIO DE JANEIRO/RJ;
LORENZO FEDERICO ZANOTTI LINDNER: BRAZILIAN, HOLDER OF DOCUMENTS CPF
025.275.667-31, RESIDENTIAL ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 1, 6º
ANDAR, BARRA DA TIJUCA, RIO DE JANEIRO/RJ;
MARIO GIRASOLE: ITALIAN, HOLDER OF DOCUMENTS CPF 059.292.237-50,
RESIDENTIAL ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 1, 5º ANDAR, BARRA DA
TIJUCA, RIO DE JANEIRO/RJ;
ANTONINO RUGGIERO: ITALIAN, HOLDER OF DOCUMENTS CPF 060.170.797-43, RESIDENTIAL
ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 1, 5º ANDAR, BARRA DA TIJUCA, RIO
DE JANEIRO/RJ;
ROGERO SOLE RAFOLS: SPANISH, HOLDER OF DOCUMENTS CPF 057.977.907-69,
RESIDENTIAL ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 1, 4º ANDAR, BARRA DA
TIJUCA, RIO DE JANEIRO/RJ;
JAQUES HORN: BRAZILIAN, HOLDER OF DOCUMENTS CPF 846.062.237-15,
RESIDENTIAL ADDRESS AT AVENIDA DAS AMÉRICAS, 3434, BLOCO 1, 5º ANDAR, BARRA DA
TIJUCA, RIO DE JANEIRO/RJ.
FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN.
|
PUBLIC INFORMATION: |
|
PROTESTS: |
|
891 PROTESTS,TOTAL AMOUNT R$ 5.181.184,93 |
|
DATE OF FIRST PROTEST:
JANUARY/2008 R$ 1.089,00 |
|
DATE OF HIGHEST PROTEST:
DECEMBER/2010 R$ 261.099,30 |
|
DETAILS OF LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
5º CARTÓRIO DE SP-SÃO PAULO |
00/01/2013 |
R$ 9.655,98 |
|
2º CARTÓRIO DE DF-BRASÍLIA |
00/01/2013 |
R$ 44.800,00 |
|
1º CARTÓRIO DE SP-SÃO PAULO |
00/01/2013 |
R$ 10.734,92 |
|
2º CARTÓRIO DE PA-BELÉM |
00/01/2013 |
R$ 7.104,00 |
|
2º CARTÓRIO DE SP-SÃO PAULO |
00/01/2013 |
R$ 12.320,99 |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
6 |
FEDERAL LAWSUITS |
06/07/12 |
2º VARA DE SP-FEDERAL |
|
115 |
MUNICIPAL LAWSUITS |
20/12/12 |
1ª VARA DE SP-SÃO JOAQUIM DA BARRA |
|
32 |
EXECUTIVE LAWSUITS |
07/08/12 |
VARA DE BA-MUCURI |
|
23 |
STATE LAWSUITS |
28/11/12 |
4ª VARA DE MG-BELO HORIZONTE |
|
5 |
EVICTIONS |
07/01/13 |
2º VARA DE SP-CAMPOS DO JORDÃO |
|
GENERAL BALANCE SHEETS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS |
3.197.401 |
2.354.096 |
2.244.248 |
|
INVESTMENTS |
644 |
18.169 |
146.104 |
|
CLIENTS |
3.031.578 |
2.463.386 |
2.339.231 |
|
INVENTORY |
273.171 |
228.654 |
406.434 |
|
RECOVERABLE TAXES |
1.151.525 |
837.484 |
892.130 |
|
OTHER CREDITS |
70.646 |
358.137 |
256.466 |
|
DEFERRED TAXES |
|
|
32.709 |
|
DERIVATIVES OPERATIONS |
55.889 |
6.122 |
|
|
PRE PAID EXPENSES |
105.049 |
93.452 |
237.491 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
7.885.903 |
6.359.500 |
6.554.813 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
RECOVERABLE TAXES |
375.872 |
306.065 |
203.506 |
|
JUDICIAL DEPOSITS |
546.675 |
337.927 |
182.437 |
|
OTHER CREDITS |
8.026 |
8.024 |
36.932 |
|
DEFERRED TAXES |
1.484.750 |
1.732.732 |
196.886 |
|
INVESTMENTS |
25.142 |
13.238 |
16.133 |
|
ACCOUNTS RECEIVABLES |
59.712 |
36.812 |
41.269 |
|
DERIVATIVES OPERATIONS |
65.315 |
16.746 |
|
|
INTERCOMPANY CREDITS |
496.143 |
|
|
|
PRE PAID EXPENSES |
29.023 |
14.620 |
9.847 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
3.090.658 |
2.466.164 |
687.010 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
1.528.235 |
|
|
|
FIXED ASSETS |
5.417.282 |
5.002.626 |
4.820.126 |
|
INTANGIBLE |
3.958.118 |
4.034.758 |
4.359.953 |
|
DEFERRED |
|
|
110.979 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
10.903.635 |
9.037.384 |
9.291.058 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
21.880.196 |
17.863.048 |
16.532.881 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
SUPPLIERS |
3.481.516 |
2.866.935 |
2.954.872 |
|
LOANS AND FINANCING |
1.087.347 |
957.549 |
1.298.961 |
|
LABOR OBLIGATIONS |
120.599 |
113.438 |
95.881 |
|
TAXES & CONTRIBUTIONS |
1.084.949 |
765.534 |
693.220 |
|
ACCOUNTS PAYABLE |
|
2.071 |
48.122 |
|
OTHER DEBTS |
278.098 |
169.775 |
111.262 |
|
DIVIDENDS |
324.063 |
509.235 |
190.000 |
|
DERIVATIVES OPERATIONS |
77.055 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
6.453.627 |
5.384.537 |
5.392.318 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
2.481.494 |
2.277.121 |
2.742.595 |
|
PROVISION FOR CONTINGENCIES |
106.361 |
123.557 |
180.402 |
|
ACTUARIAL LIABILITY |
|
3.909 |
2.745 |
|
ACCOUNTS PAYABLE |
318 |
164.482 |
113.200 |
|
TAXES AND CONTRIBUTIONS |
310.400 |
195.068 |
23.984 |
|
DERIVATIVES OPERATIONS |
89.078 |
|
|
|
PROVISIONS |
261.918 |
|
|
|
OTHER |
31.229 |
278.509 |
237.094 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
3.280.798 |
3.042.646 |
3.300.020 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
9.434.216 |
7.731.647 |
7.731.647 |
|
CAPITAL RESERVES |
3.571 |
15.881 |
15.881 |
|
PROFIT RESERVES |
2.707.984 |
1.688.337 |
93.015 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
12.145.771 |
9.435.865 |
7.840.543 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
21.880.196 |
17.863.048 |
16.532.881 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
GROSS SALES |
23.461.232 |
19.218.106 |
|
|
(-) TAXES ON SALES |
7.178.844 |
5.475.497 |
|
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
16.282.388 |
13.742.609 |
14.409.155 |
|
(-) COST OF SOLD GOODS |
7.959.226 |
6.814.114 |
7.932.391 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
8.323.162 |
6.928.495 |
6.476.764 |
|
OPERATING REVENUE (EXPENSE) |
-6.180.632 |
-5.707.300 |
-5.910.270 |
|
FINANCIAL REVENUE(EXPENSE) |
-228.757 |
-222.161 |
-249.770 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
1.913.773 |
999.034 |
316.724 |
|
CONTRIBUTION/INCOME TAX |
-549.298 |
1.244.593 |
34.728 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
1.364.475 |
2.243.627 |
351.452 |
|
RATIOS: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
QUICK RATIO |
1,18 |
|
1,14 |
|
1,14 |
|
|
CURRENT RATIO |
1,22 |
|
1,18 |
|
1,22 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
5,37 |
TIMES |
5,58 |
TIMES |
6,16 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
67,03 |
DAYS |
64,53 |
DAYS |
58,44 |
DAYS |
|
INVENTORY TURNOVER |
29,14 |
TIMES |
29,80 |
TIMES |
19,52 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
157,47 |
DAYS |
151,46 |
DAYS |
134,10 |
DAYS |
|
RETURN ON ASSETS |
,74 |
TIMES |
,77 |
TIMES |
,87 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,34 |
TIMES |
1,46 |
TIMES |
1,84 |
TIMES |
|
NET WORTH TIE-UP |
,45 |
|
,53 |
|
,61 |
|
|
INDEBTEDNESS |
,80 |
|
,89 |
|
1,11 |
|
|
EQUITY RATIO |
55,51 |
% |
52,82 |
% |
47,42 |
% |
|
WORKING CAPITAL RATIO |
22,19 |
% |
18,11 |
% |
21,56 |
% |
|
GENERAL SOLVENCY |
2,25 |
|
2,12 |
|
1,90 |
|
|
RETURN ON NET EQUITY |
11,23 |
% |
23,78 |
% |
4,48 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
8,38 |
% |
16,33 |
% |
2,44 |
% |
|
GROSS PROFIT MARGIN |
51,12 |
% |
50,42 |
% |
44,95 |
% |
|
OPERATIONAL RESULT |
11,75 |
% |
7,27 |
% |
2,20 |
% |
|
SALES TURNOVER ON LIABILITIES |
2,52 |
TIMES |
2,55 |
TIMES |
2,67 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,02 |
- OFFICIAL RATE ON 24/01/2013 |
|
US$ 1,00 = R$ 1,87 |
- OFFICIAL RATE ON 31/12/2011 |
|
US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
|
US$ 1,00 = R$ 1,74 |
- OFFICIAL RATE ON 31/12/2009 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS THE FIGURES AVAILABLE SHOW A NORMAL FINANCIAL STANDING. THE LEVEL OF
INDEBTEDNESS IS ACCEPTABLE AND IT IS NOTED NORMAL LIQUIDITY RATIOS AND
POSITIVE WORKING CAPITAL. IT ALSO SHOWS GROWING SALES AND PROFITABILITY. IT IS WORTH COMMENTING THAT THE CONCERN BELONGS TO THE TELECOM ITALIA
MOBILE GROUP, WHICH HAS HUGE FINANCIAL POWER THEREFORE, SUBJECT IS NOT LIKELY
TO FACE FINANCIALS PROBLEMS. |
REAL ESTATE:
OWNED PREMISES ARE VALUED AT R$ 27.974.000,00
VEHICLES:
NOT AVAILABLE
MACHINES:
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 2.532.583.000,00
THE COMPANY KEEPS THE POLICY OF MONITORING THE RISKS INHERENT TO ITS
OPREATIONS. AS A RESULT OF THIS, ON DECEMBER 31, 2011, THE COMPANY HAD
INSURANCE CONTRACTS IN FORCE FOR THE COVERAGE OF OPRATIONAL RISKS, CIVIL
LIABILITY, HEALTH, AMOUNG OTHERS. THE MANAGEMENT CONSIDERS THAT THE POLICIES
REPRESENT VALUES SUFFICIENT TO COER POSSIBLE LOSSES. THE MAIN ASSETS,
LIABILITIES OR INTERESTS COVERED BY INSURANCE ARE BREAKDOWN AS FOLLOWS:
|
COVERAGE: |
OPERATIONAL RISKS |
|
VALUE: |
R$ 19.601.034.000,00 |
|
|
|
|
COVERAGE: |
GENERAL CIVIL LIABILITY |
|
VALUE: |
R$ 53.000.000,00 |
|
|
|
|
COVERAGE: |
VEHICLES - CIVIL LIABILITY AND MORAL DAMAGES |
|
VALUE: |
R$ 1.100.000,00 |
|
|
|
|
|
BANCO DO NORDESTE DO BRASIL S/A |
|
|
|
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 NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
SUBJECT IS ENGAGED IN THE MOBILE TELECOMMUNICATION SERVICES.
IMPORT AND EXPORT:
IMPORTS FROM:
ITALY.
EXPORTS TO:
NOT AVAILABLE.
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
NOT AVAILABLE. |
|
|
|
STAFF: |
|
|
|
NOT AVAILABLE |
THE SUBJECT IS A NEW BUT WELL-ESTABLISHED SUBSIDIARY OF THE TIM GROUP,
WHICH IS ONE OF THE EUROPE'S LARGEST COMPANIES IN ITS LINE OF BUSINESS. SO FAR
IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED.
THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.
MOST OF THE SUPPLIERS, WHICH PROVIDED INFORMATION REPORTED PROMPT
PAYMENTS, IT MAY BE NOTED SUBJECT HAS NORMAL TRADE BEHAVIOR.
THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE RELATED
TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. USUALLY THIS
KIND OF SUITS DO NOT AFFECT THE COMPANY REPUTATION BUT IN THE SUBJECT SPECIFIC
CASE IT IS NOT POSSIBLE TO EVALUATE AS THERE ARE SEVERAL SUITS REGISTERED AND
NO DETAILS REGARDING THE AMOUNTS INVOLVED ARE AVAILABLE FOR PUBLIC INSPECTION.
OUR INVESTIGATION THROUGH THE PUBLIC RECORDS SHOWED SEVERAL DETRIMENTAL
FILES REGISTERED AGAINST THE SUBJECT BUT DUE TO THE SUBJECT'S HIGH FINANCIAL
STRENGTH AND HIGH SCALE OF OPERATIONS THE DETRIMENTAL FILES DO NOT AFFECT ITS
TRADE REPUTATION.
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
NOT AVAILABLE. |
|
|
|
PAYMENT HISTORY: |
|
12 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 1.231.296,00 |
|
|
|
AMOUNT OF INVOICES PAID: 289 |
|
TOTAL OF PROMPT PAYMENTS: 66,2% |
|
TOTAL OF DELAYED PAYMENTS: 33,8% |
|
|
|
HIGHEST INVOICE: R$ 31.777,00 |
|
HIGHEST CREDIT: R$ 31.777,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
1 |
7 |
R$ 31.777,00 |
|
THE SUBJECT IS A NEW BUT WELL-ESTABLISHED COMPANY IN BUSINESS SINCE
2000. UP TO DATE IT HAS CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR. BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.