MIRA INFORM REPORT

 

 

Report Date :

27.02.2013

 

IDENTIFICATION DETAILS

 

Name :

SABORES LTDA

 

 

Registered Office :

Carrera 38 No 68B 23 Barranquilla Columbia

 

 

Country :

Colombia

 

 

Year of Incorporation :

1985

 

 

Legal Form :

Compania Limitada

 

 

Line of Business :

The firm is in charge of import and distribution chemicals for both food and cleannind industries.

 

 

No. of Employees :

50

 

 

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

(31.03.2011)

Current Rating

(30.06.2012)

Colombia

A2

A2

 

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 grew 5.7% in 2011 and inflation ended 2011 at 3.7%, continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia''s 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 10.8% in 2011 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 is pending implementation in 2012. Columbia has signed or is negotiating FTAs with a number of other countries, including Canada, Chile, Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, and Israel. Foreign direct investment - notably in the oil sector - reached a record $10 billion in 2008 but dropped to $7.2 billion in 2009, before beginning to recover in 2010, and it appears to have reached a record high $13 billion in 2011. Colombia is the third largest Latin American exporter of oil to the US. Inequality, underemployment, and narcotrafficking remain significant challenges, and Colombia''s infrastructure requires major improvements to sustain economic expansion. In late 2010, Colombia experienced its most severe flooding in decades with damages estimated to exceed $6 billion. The rains resumed in 2011 causing further damages to crops and infrastructure as well as killing hundreds of Colombians and displacing millions.

Source : CIA

 

GEOPOLITICS – COLOMBIA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Nil

Currency: USD

Branch Situation:Stable

 

 

IDENTIFICATION

 

Legal Name:

SABORES LTDA

 

 

Legal Address

Carrera 38 No 68B 23 Barranquilla Columbia

Operative Address

Carrera 38 No 68B 23 Barranquilla Columbia

Telephone:

+1(575)-3692333

NIT :

890115209

Fax:

+1(5)-3586845

Legal Form:

Compania Limitada

Email:

INFO@SABORES-CO.COM

Registered in:

Colombia

Website:

N/A

Date Created:

1985

Manager:

SCHIFINO SEGURA ANTONIO NICOLAS : PRESIDENT

Date Incorporated:

NA

Staff:

50

Stock:

N/A

 

 

Value:

N/A

Activity:

The firm is in charge of import and distribution chemicals for both food and cleannind industries.

 

 

BANKS

 

Name of the Bank

BANCOLOMBIA

Comments

This information has not been confirmed with the company.

 

BUSINESS

 

HISTORY

 

The company was created in 1985.

 

 

PRINCIPAL ACTIVITY

 

The firm is in charge of import and distribution of chemicals for both food and cleanning industries.

Products/Services description:

 

The company sells Flavors, fragances, colourings and conservants.

Sales are:

 

Wholesale

Brands:

 

Givaudan

Suppliers:

 

Givaudan, Switzerland

Operations area:

 

Local

The company imports from Switzerland

The company does not export

Trade References:

 

Givaudan SA

5, chemin de la parfumerie

1214 Vernier

Switzerland

Tel: +41 22 780 9111

Comments on staff:

 

This information has not been confirmed with the company.

PAYMENTS

 

No Complaints

LOCATION

Headquarters

 

Carrera 38 No. 68B-23 Barranquilla Columbia

Branches:

 

Bogotá: 13 avenue, No 86-26, Bogota, Colombia

Medellín: 29C street, No.33-06, Medellin, Colombia

 

Business Overview:

 

Companies in this industry distribute plastics materials, alkalis and chlorine, detergents and soaps, adhesives, and industrial gases. Major companies include Brenntag, Nexeo Solutions (formerly Ashland Distribution), and Univar.

 

Chemical distribution is a cyclical business dependent on industrial demand. The profitability of individual companies depends on an efficient distribution system. Larger companies can offer more products and services. Local and regional distributors can compete effectively through superior service or geographic focus. The industry is concentrated: the largest 50 companies generate more than half of revenue.

 

Major products are plastics materials, alkalis and chlorine, detergents and soaps, adhesives, and industrial gases. Plastics account for about a third of industry revenue.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The owner of the firm is Schifino Segura Antonio Nicolas.

Management:

 

President:  SCHIFINO SEGURA ANTONIO NICOLAS

Vice-president: SCHIFINO HURTADO JOAQUIN ANTONIO

Finance: GERMAN PEREZ RESTREP

Accountant: SILVIO FLORENCIO SCHIFINO HURTADO

Sully, Secretary.

 

 

 

 

 

 

 

 

 

 

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

Comments on the financial data: We have contacted a representative of the company who confirmed that an aproximate revenue of the company is 200 000 000 (COP)

 

 

Rating

 

Local credit bureau gave a Normal credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

The company operates in the import and distribution of chemicals for both food and cleanning industries in Colombia, which is a well regarded market.

 

The company counts with 25 years of experience in the market.

 

It counts with a high profiled provider in Switzerland, where the main articles that the company offers are from.

 

We have not found any negative antecedent through our search.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Mari Donado

Position

 

Sales Assistant

Comments

 

The person contacted confirmed:

-Location

-Branches

-Date of Creation

-Owner

-Employees

-Supplier

-Imports

-Estimated revenue

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.06

UK Pound

1

Rs.82.15

Euro

1

Rs.70.61

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.