MIRA INFORM REPORT

 

 

Report Date :

16.01.2013

 

IDENTIFICATION DETAILS

 

Name :

ZARGON S.A.

 

 

Registered Office :

Ruta 8 Km. 17.500 Inf. Adic. Ed. Costa Par Zona Franca Zonamérica

 

 

Country :

Uruguay

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Wholesale Trade-Non-Durable Goods. (Papers, Perfumes, Drugs, Hardware, Groceries, Apparel, Food, Dairy Products, Beverages.)

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

Payment Behaviour :

--

Litigation :

--

 

 

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)

Uruguay

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

URUGUAY - ECONOMIC OVERVIEW

 

Uruguay's economy is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. Following financial difficulties in the late 1990s and early 2000s, economic growth for Uruguay averaged 8% annually during the period 2004-08. The 2008-09 global financial crisis put a brake on Uruguay's vigorous growth, which decelerated to 2.6% in 2009. Nevertheless, the country managed to avoid a recession and keep positive growth rates, mainly through higher public expenditure and investment, and GDP growth reached 8.5% in 2010 and 6% in 2011.

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

ZARGON S.A.

TAXPAYER REGISTRATION

RUT 215001130014

MAIN ADDRESS

Ruta 8 Km. 17.500 Inf. Adic. Ed. Costa Par

PROVINCE / DEPARTAMENT

Zona Franca

STATE / REGION

Zonamérica

COUNTRY

URUGUAY

TELEPHONE

(598)

COMMENTS

 
Please be advised the address forwarded in your order no longer belongs to this Company.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

 

 

CURRENT EXCHANGE RATE (US$)

Ps$19.30 Pesos per 1.00 USADollar

 

 

COMMENTS

 
No information related to Company's shareholders, directors, backgrounds or activity history found.

 

BUSINESS

 

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

Main activity

 
Import, export and marketing of agricultural products.

Import

Yes

Country

China.

ANNUAL Imports In US$ (CIF)

YEAR

AMOUNT

2012

202,050.00

2010

304,000.00

2009

157,500.00

Export

Yes

Annual exports in US$ (FOB)

YEAR

AMOUNT

2012

15,000.00

2011

153,225.00

2010

92,690.00

SELLING TerritorY

Domestic and international markets.

EMPLOYEES

Unknown.

 

FINANCIAL INFORMATION

 

Disposition

Report totally prepared by outside sources.

 

SALES

US$ 0.00 ()

 

GENERAL INFORMATION

 

We send this general report because we have not been able to contact the company with the information provided in your order. We communicated with the Zonamerica administrative offices, telephone number 598 2 518 2000, where we were told that the company which carries out the operations of ZARGON S.A. in these facilities, is the company COSTA ORIENTAL S.A. - telephone 25182566, a logistics operator which currently has facilities of 22,000 square meters in in Zonamérica, and employs 280 direct employees. In the company , COSTA ORIENTAL S.A., we contacted Ms. María Carrión, who informed us that since mid-2011 no longer keep any products of ZARGON S.A in their facilities., and that all business was dealt with Ms. Carla Tricarico, part of office staff of Zargon S.A. To be able to contact her, Ms. Carrión gave us the telephone number 598-25220301, but no e-mail address was available. Finally , she stated she did not know if the address of Camino Carrasco 5937 corresponds to the Subject and further she does not know if it continues to operate. We tried to communicate with them by telephone number 598-25220301 but a voice message system indicates that this number is restricted and we're not allowed to contact them. Through third-party sources we found that the company STELLEN BOSH TRUST S.A.F.I. operates in the address of Camino Carrasco 5937 - Montevideo Uruguay, but we have not been able to contact it. We conducted extensive search without finding more information in the sources available than that indicated in this report.

 

REPUTATION

 

NOTHING AGAINST COMPANY

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.54

UK Pound

1

Rs.87.69

Euro

1

Rs.72.85

 

 

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.