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Report Date : |
14.01.2013 |
IDENTIFICATION DETAILS
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Name : |
NUFARM S.A. |
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Registered Office : |
Arias 3751 piso 20, Buenos Aires City |
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Country : |
Argentina |
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Financials (as on) : |
31.07.2011 |
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Date of Incorporation : |
21.04.1999 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Marketing and Importer of Agro Chemicals |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 : |
Unknown |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ARGENTINA - ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and a bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in early 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy has rebounded strongly from the 2009 recession, but the government's continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation.
Source
: CIA
NUFARM S.A.
C.U.I.T. No.: 30-70052897-5
COMPANY
INCORPORATED IN 1999 AS BEGINNER OF THE ACTIVITIES. BALANCE SHEET AS
31/07/2011:
HIGH LEVEL OF DEBT, LITTLE RESPONSIBILITY ADN NEGATIVE RESULTS. NO NEGATIVE. IF
INTERESTED IN CREDIT TREATMENT, IT IS ADVISABLE TO OPERATE WITH THE ADOPTION OF
SOLID GUARANTEES, BY MODERATE AMOUNTS.
AGRO CHEMICALS
IMPORT
MARKETING
Legal :
Public
limited company
Created: 21/04/1999
Registered: Buenos
Aires City
Duratiòn: 99
years
End of fiscal year: 31 July
Accountant:
Alejandro Urzo.
Operative and administrative address: "Edificio Panamericana Plaza",
Tronador 4890, piso 14o., (C1430DNN), Buenos Aires City, Repúblic of Argentina.
Phone: (54-11) 4546-7900/7925
Legal Address: Arias 3751 piso 20, Buenos Aires City.
PRESIDENT:
VALDEMAR
FISCHER
V.PRESIDENT: MARCELO
MARIA VALENTIN
DIRECTORS: FABIO
DE FELIPPIS
ALAN ARNTSEN
ALTERNATE: CRISTIAN
ALBERTO KRUGER
Using signature: President and V.President.
SOCIAL CAPITAL $
9.600.000.-
It is able to
demonstrate that in early
At that time and agreed between the parties concerned, that name is changed by
the current, being operated so far in the direction set out in the heading.
Note that in practice is an integral part of a business group from Australia,
which happens to be one of the 10 largest global producer and supplier of
agrochemicals for crop protection and the market leader in its country.
Its headquarters is established in Melbourne, Australia, the same having been
founded in 1953 by Max Fremder, one of the world's leading producers of
technical grade active substances for the manufacture of herbicides.
Simultaneously synthesizes and produces fungicides, insecticides, adjuvants,
disinfectants and growth regulators.
Always referring to NUFARM AMERICAN INC., Has noted that more than 2,400
products in over 100 countries, having factories in Australia, New Zealand,
Canada, France, England, Austria, Netherlands, Spain, Malaysia, Indonesia,
Egypt and South Africa .
BALANCE SHEET AS
31.7.2011 (LAST KNOWN).
GENERAL ESTRUCTURE:
ASSETS CURRENT $
139.842.027 82,3%
ASSETS NON-CURRENT $
30.084.779 17,7%
LIABILITIES CURRENT $
165.630.691 97,5%
NET WORTH $ 4.296.115 02,5%
NET SALES $ 204.232.807 100,0%
LOSS FINAL $ (7.765.459) -03,8%
The above figures show economic and financial imbalances, having closed the
period with a break of discrete significance.
Sales for the period show an increase of 23.7% compared to the previous year,
having deteriorated the final result in a 116.6%.
> NUFARM
AMERICAN INC. (Controlled)
> NUFARM HOLDINGS GROUP (Controlled)
FOREIGN TRADE:
--------------
In the last twelve months, it has made specific imports by u$s.
20.308.754 according to the following detail:
INDIAN.................7.298.014
CHINE..................5.055.750
GERMANY................3.175.555
OTHERS.................4.779.435
Imported products were organic and inorganic compounds, heterocyclic compounds
and related items.
The holder is principally engaged in the import and marketing of herbicides,
insecticides, fungicides, growth regulators and foliar fertilizers these
products that, among others, are distinguished by the following marks:
herbicides:
-----------
Navajo
Butoxone E
Weedone
Acetoclor 90
Atrazina 50
Mextrol
Dicamba
Debit
Credit
Rhomene MCPA 28
Metsulfuron metil 60 WG
Paraquat
insecticides:
-------------
Abamectica 1,8
Cipermetrina 25
Clorpirifos 48
Endosulfan 35
Matrero 60
Matrero 35
Metamidofós 60
Lambdacialotrina 5
Fenitrotion 100
fungicides:
-----------
Caberndazim 50 y 75
Champion
Mancozeb 75 y 80
Oxicloruro
Tebuconazole 20
Tebuconazole 6 FS
Tebuconazole 43
Growth Regulators:
------------------
Tobago
Foliar fertilizers:
-------------------
Phostrol
* Employees: 30
MAIN SUPPLIERS:
---------------
MONSANTO ARGENTINA S.A.
ATANOR S.A.
INDO FILM (Indian)
- Suipacha 1111
piso 18, Buenos Aires City.
- Avda. Sucre 2480 2º A, Beccar, Buenos Aires.
BANCO SANTANDER
RIO Suc.Belgrano
BANCO COMAFI
INSURANCE:
----------
SEGUROS LIBERTY S.A.
CREDIT RISK
-----------
OCTOBER OF 2012
BANCO GALICIA $ 3.207.500 SITUATION 1
BANCO COMAFI $ 1.577.100 SITUATION 1
BANCO SANTANDER $ 140.600 SITUATION 1
SITUATION 1: NORMAL
Although it
doesn't register negative, the possibility of tolerance from its older
suppliers is not discarded since its own resources would not allow it to
fulfill in term its commitments.
* FULFILLMENT: NOT OBJECTED
If it exists
interest on credit treatment with the subject, it is advisable to operate for
moderated amounts and with the adoption of solid guarantees.
FIT FOR MODERATED CREDITS WITH APPROPRIATE GUARANTEES.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.