MIRA INFORM REPORT

 

 

Report Date :

07.01.2013

 

IDENTIFICATION DETAILS

 

Name :

FEDERACION NACIONAL DE ARROCEROS

 

 

Registered Office :

Carrera 100 No. 25H-55 Bogotá

 

 

Country :

Colombia

 

 

Year of Incorporation :

1947

 

 

Legal Form :

Professional body Nonpoint

 

 

Line of Business :

Rice seed production.

 

 

No. of Employees :

300

 

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: Low

Currency: 100.00 COP = 0.0564240 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

FEDERACION NACIONAL DE ARROCEROS

Trade Name:

FEDEARROZ

Legal Address

Carrera 100 No. 25H-55 Bogotá - Colombia

Operative Address

Carrera 100 No. 25H-55 Bogotá - Colombia

Telephone:

(1) 425 1150

NIT :

8600105226

Fax:

(1) 425 2027 - (1) 425 2028

Legal Form:

Professional body Nonpoint

Email:

info@fedearroz.com.co

Registered in:

Colombia

Website:

http://www.fedearroz.com.co

Date Created:

1947

Manager:

Rafael Hernandez Lozano, General Manager

Date Incorporated:

NA

Staff:

300

Stock:

NA

 

 

Value:

NA

Activity:

Rice seed production.

 

 

BANKS

 

Name of the Bank

Bancolombia

 

Name of the Bank

Banco Agrario de Colombia

 

BUSINESS

 

HISTORY

 

FEDERACION NACIONAL DE ARROCEROS was founded in 1947.

PRINCIPAL ACTIVITY

 

The company engages in union representation, marketing of goods and inputs, research and investment credits and grants.

Products/Services description:

 

The company offers rice seeds.

 

The company forecasts a production of at least 3 million tonnes of seeds for the year 2011.

Sales are:

 

Wholesale

Brands:

 

The company operates under the trade name FEDEARROZ.

Clients:

 

The company represents to the rice producers.

Suppliers:

 

SHARDA INTERNATIONAL FZE

India

Operations area:

 

National, International, Local

The company imports from worldwide

The company exports to worldwide

 

Trade References:

 

We could not obtain local suppliers information for us to check trade references.

The subject employs 300 employee(s)

Comments on staff:

 

This information was confirmed by the company.

PAYMENTS

 

No Complaints

LOCATION

Headquarters

 

Carrera 100 No. 25H-55 Bogotá Colombia.

Branches:

 

The company has over 20 locations in Colombia.



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is regulated by the Ministry of Agriculture.

Management:

 

Rafael Hernández Lozano, General Manager

Rosa Lucía Rojas Acevedo, Secretary

Carlos Guzmán, Assistant Financial Manager

Miryam Patricia Guzmán García, Technical Assistant

Milton Salazar Moya, Commercial Assistant

Nestor Gutiérrez Alemán - Director of Economic Research

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Mr. Jesus Beltran from the accounting department who provided us with the following data (estimates):

 

The company´s annual revenues for 2011 were more than COP 100,000,000,000.

 

Currency

DATE

 

COP

2010

 

Turnover

70,000,000,000

 

 

 

Legal Filings

 The sources consulted record no detrimental legal or labor court information.



Rating

 

Local credit bureau gave a Correct credit rate.

 

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

 

 

 Final Opinion

 

FEDERACION NACIONAL DE ARROCEROS was founded in 1947 and it is based in Colombia.

 

It is a medium size, government agency, which engages in union representation, marketing of goods and inputs, research and investment credits and grants.

 

The company is regulated by the Ministry of Agriculture.

 

The sources consulted record no detrimental legal or labor court information.

 

Moreover, the company´s annual revenues has increased comparing ti to the figures from 2010.

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

CONTROLLED

Payments

NO COMPLAINTS

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Jesus Beltran

Position

 

Accounting Department

Comments

 

The person contacted provided us with the following information:

 

1.Headquarter and branch information.

2.Date the company was created.

3.Numbre of employees.

4.Annual revenues for 2011.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.84

UK Pound

1

Rs.88.16

Euro

1

Rs.71.54

 

 

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.