|
Report Date : |
19.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
S.C. MICRON CHEMICALS CORPORATION |
|
|
|
|
Registered Office : |
16 Ricardo Street, Hayaville Subdivision, Amjeet 6, Bahay
Toro 1106, Quezon City |
|
|
|
|
Country : |
Philippines |
|
|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
|
Date of Incorporation : |
17.06.2002 |
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|
|
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Com. Reg. No.: |
A200209707 |
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|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject engage in the business of
trading and importing of chemical products |
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|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaint |
|
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) |
|
Philippines |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PHILIPPINE - ECONOMIC OVERVIEW
Philippine GDP grew 7.6% in 2010, spurred by consumer
demand, a rebound in exports and investments, and election-related spending,
before cooling to 3.7% in 2011. The economy weathered the 2008-09 global
recession better than its regional peers due to minimal exposure to troubled
international securities, lower dependence on exports, relatively resilient
domestic consumption, large remittances from four- to five-million overseas
Filipino workers, and a growing business process outsourcing industry. Economic
growth in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO
administration (January 2001 - June 2010). Despite this growth, however,
poverty worsened during her presidency. The AQUINO administration is working to
reduce the government deficit from 3.9% of GDP, when it took office, to 2% of
GDP by 2013. The government has had little difficulty issuing debt, both
locally and internationally, to finance the deficits. The AQUINO Administration
reduced public debt to below 50% of GDP and obtained several ratings upgrades
on sovereign debt so that the Philippines is now close to investment grade.
However, the lack of government spending, especially on infrastructure, was one
of several factors which slowed GDP growth in the second half of 2011, leading the
government to announce a stimulus effort and increased public spending on
infrastructure in 2012. AQUINO's first budget emphasized education, health,
conditional cash transfers for the poor, and other social spending programs,
relying mostly on the private sector to finance important infrastructure
projects. Weak tax collection, exacerbated by new tax breaks and incentives,
has limited the government's ability to address major challenges. The AQUINO
administration has vowed to focus on improving tax collection efficiency,
rather than imposing new taxes, as a part of its good governance platform. The
economy still faces several long-term challenges, including reliance on energy
imports and foreign demand for overseas Filipino workers.
Source : CIA
|
Company Name: |
S.C. MICRON CHEMICALS CORPORATION |
|
Supplied Name: |
S C MICRON CHEMICAL CORPN |
|
Trading Address: |
16 Ricardo Street, Hayaville Subdivision, Amjeet 6, Bahay
Toro 1106, Quezon City, Philippines |
|
Supplied Address: |
16 Ricardo Street, Hayaville Subdivision Amjeet 6 Quezm
City 1100 Metro Manila |
|
Telephone Number: |
+63 02 242-1079 |
Note:
The name you supplied is inexact. Subject’s accurate name is as above.
The address you supplied is incorrect. Subject’s accurate address is as
above.
|
Credit Opinion: |
Business connections are permissible. |
|
Company Name: |
S.C. MICRON CHEMICALS CORPORATION |
|
Registered Number: |
A200209707 |
|
Legal Form: |
Corporation |
|
Date Incorporated: |
|
|
Authorized Capital Stock: |
PHP 5,000,000 |
|
Subscribed Capital Stock: |
PHP 1,250,000 |
|
Paid-up Capital: |
PHP 1,250,000 |
|
Listed at Stock Exchange: |
No |
|
Staff: |
N/A |
Note:
Amounts in Philippine Peso unless otherwise
specified
The staff number is not obtained from the
subject or other sources.
CORPORATION
Verification with the local registry revealed the following correct registration
details as of (January 17, 2013).
Company Background
|
Regulatory Agency |
Date Registered |
Registration No. |
Term |
|
Securities and Exchange
Commission |
|
A200209707 |
50 years |
Annual
Meeting Date:
|
Type |
Share |
|
Authorized Capital |
5,000,000.00 |
|
Paid Up Capital |
1,250,000.00 |
|
Subscribed Capital |
1,250,000.00 |
Capital structure per latest available General
Information Sheet.
Stockholders
(
|
COMMON |
|
|
Name |
Subscribed
and Paid Up |
|
ANG, RICHARD C. |
62,500.00 |
|
COO, EDWIN L. |
562,500.00 |
|
COO, YUET NGAR ANNA S. |
500,000.00 |
|
LOZADA, EVANGELINE C. |
62,500.00 |
|
YU, EVELINE C. |
62,500.00 |
List of stockholders and their shareholdings per latest available
General Information Sheet
Management
(
|
Name |
Position |
|
COO, EDWIN L. 16 Ricardo St., Hayaville Subd.,
Quezon City |
Chairman / President |
|
YU, EVELINE C. 206 University Avenue, Ayala Alabang,
Muntinlupa City |
Vice President / Director |
|
COO, YUET NGAR ANNA S. 16 Ricardo St., Hayaville Subd.,
Quezon City |
Treasurer / Director |
|
LOZADA, EVANGELINE C. 1082 Albuquerque St., Tondo,
Manila |
Corporate Secretary / Director |
|
ANG, RICHARD C. 98 East Maya Drive, Phil-Am
Home, Quezon City |
Director |
List of officers per latest available General Information
Sheet
Activities
|
|
Engage in the business of
trading and importing of chemical products. |
Premises
|
|
Location: Located at above address. |
Unit: PHP
|
|
2011.12.31 |
|
TotalCurrentAssets |
12,916,212.87 |
|
Cash |
441,615.50 |
|
ShortInvest |
0.00 |
|
Receivable |
2,640,671.13 |
|
Inventory |
9,833,926.24 |
|
OtherCurrentAssets |
0.00 |
|
LongInvestTotal |
0.00 |
|
LongInvestSecurity |
0.00 |
|
LongInvestEquity |
0.00 |
|
LongInvestOther |
0.00 |
|
FixedAssetsTotal |
1,222,399.98 |
|
FixedAssets |
1,222,399.98 |
|
DepreciationTotal |
0.00 |
|
IntangibleAssets |
0.00 |
|
OtherAssets |
0.00 |
|
TotalAssets |
14,138,612.85 |
|
TotalCurrentDebt |
8,619,209.61 |
|
ShortLoan |
0.00 |
|
AccountsPayable |
8,619,209.61 |
|
OtherCurrentLiability |
0.00 |
|
LongLiabilityTotal |
0.00 |
|
LongLeases |
0.00 |
|
LongLoan |
0.00 |
|
LongLoanOther |
0.00 |
|
TotalLiability |
8,619,209.61 |
|
TotalEquity |
5,519,403.24 |
|
ShareCapital |
0.00 |
|
CapitalPaid |
1,250,000.00 |
|
LegalReserve |
0.00 |
|
SurplusReserve |
0.00 |
|
UndistributedProfit |
0.00 |
|
RetainedEarning |
4,269,403.24 |
|
OtherEquity |
0.00 |
|
TotalLiabilityAndEquity |
14,138,612.85 |
Unit: PHP
|
|
2011 |
|
OperatingRevenue |
0.00 |
|
SalesRevenue |
58,635,033.55 |
|
InterestRevenue |
0.00 |
|
OtherRevenue |
0.00 |
|
TotalRevenue |
58,635,033.55 |
|
SalesCost |
51,994,577.67 |
|
GrossProfit |
6,640,455.88 |
|
SalesExpenses |
0.00 |
|
ManagementExpenses |
5,253,796.93 |
|
FinancialExpenses |
0.00 |
|
TotalExpenses |
57,248,374.60 |
|
OperatingProfit |
1,386,658.95 |
|
NonOperatingProfit |
0.00 |
|
ProfitBeforeTax |
1,386,658.95 |
|
Tax |
415,998.00 |
|
NetProfit |
970,660.95 |
|
|
2011 |
|
OperatingNetCash |
830,516.13 |
|
InvestmentNetCash |
0.00 |
|
FinanceNetCash |
0.00 |
No dealings based on
credit exposure report with one million and above dealings under the name “S.C.
MICRON CHEMICALS CORPORATION” as of September 30, 2012.
NEGATIVE
No negative records (court cases, credit cards
cancelled and delinquent accounts) found under “S.C. MICRON CHEMICALS
CORPORATION”
Above information
were based on the subject’s 2012 General Information Sheet, the latest
available at the Securities and Exchange Commission.
Address
verification per interview with Ms. Theresa del Rosario, Front Desk Clerk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.94 |
|
UK Pound |
1 |
Rs.86.24 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.