MIRA INFORM REPORT

 

 

Report Date :

29.01.2013

 

IDENTIFICATION DETAILS

 

Name :

GEP INDUSTRIA E COMERCIO LTDA

 

 

Registered Office :

Rua Raul Saddi,88 – Butantã 05503-010 Sao Paulo/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

23.03.1957

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Textiles.

 

 

No. of Employees :

730

 

RATING & COMMENTS

 

MIRA’s Rating :

 

 

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

(31.03.2012)

Current Rating

(30.06.2012)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Brazil - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.

 

Source : CIA

Company name

 

GEP INDUSTRIA E COMERCIO LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA RAUL SADDI,88 - BUTANTÃ

ZIP CODE/CITY:

05503-010 SAO PAULO/SP

 

 

PHONE:

11 3038-0210

FAX:

11 3038-0370

E-MAIL:

emanuel.santos@gep.com.br

WEB SITE:

www.gep.com.br

 

BRANCHES:

 

 

 

ADDRESS:

AV. NAÇÕES UNIDAS,22540 LJ. A6-10A - SANTO AMARO

ZIP CODE/CITY:

SÃO PAULO/SP

CNPJ:

61.075.594/0002-75

 

 

ADDRESS:

AV INDUSTRIAL,600 LJ. 042 - JARDINS

ZIP CODE/CITY:

09080-500 SANTO ANDRÉ/SP

CNPJ:

61.075.594/0006-07

 

 

ADDRESS:

SND CONJ. A - LOJA,2136 2º PAVIMENTO

ZIP CODE/CITY:

BRASÍLIA/DF

CNPJ:

61.075.594/0030-29

 

 

ADDRESS:

AV. IBIRAPUERA,3103 SUC, 8º PISO CAMPO BELO - MOEMA

ZIP CODE/CITY:

SÃO PAULO/SP

CNPJ:

61.075.594/0018-32

 

 

ADDRESS:

RUA FREI CANECA,569 LOJAS 213 A 219 - 1º PAVIMENTO

ZIP CODE/CITY:

SÃO PAULO/SP

CNPJ:

61.075.594/0034-52

 

 

ADDRESS

RUA SAMUEL MEIRA, 394 – TAQUARA II

ZIP CODE/CITY:

SERRA/ES

PHONE:

27 9806-9911

 

 

REQUESTED ADDRESS

RUA MABEL S/Nº, ESQUINA RUA ADAR - DISTRITO INDUSTRIAL,0

ZIP CODE/CITY:

TRÊS LAGOAS/MG

PHONE:

67 3522-5535

 

THE COMPANY ALSO HAS OTHER BRANCHES LOCATED IN SÃO PAULO/SP, TRÊS LAGOAS/MS, GUARULHOS/SP, CAMPINAS/SP, RIBEIRÃO PRETO/SP, CURITIBA/SP RIO DE JANEIRO AND BRASILIA/DF.

 

LEGAL DATA

 

 MAIN ACTIVITIES:

 -------------------

MANUFACTURE OF TEXTILES.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

23/03/1957

REGISTER DATE:

23/03/1957

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

61.075.594/0001-94

STATE REGISTER:

103.771.904.113

 

 

SHARE CAPITAL:

R$ 62.000.000,00

LAST REGISTER OF CAPITAL:

02/07/2009

 

BOARD OF DIRECTORS:

 

 

 

NELSON VOLPATO

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

THE DIRECTOR IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

BLUE BIRD PARTICIPAÇÕES LTDA

R$ 61.999.990,00

NELSON VOLPATO

R$         10,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

3 P EMPREENDIMENTOS E COMÉRCIO LTDA

 

CONCEITOS DE MODA CONFECÇÕES LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON DECEMBER 29, 1964 TO BE ENGAGED IN THE SAID LINE OF BUSINESS.

 

TRADE NAMES: CORI AND LUIGI BERTOLLI.

 

PREVIOUS LEGAL NAME:

 

GEP GRUPO EMPRESARIAL PASMANIK S/A

CORI IND E COMERCIO DE MODAS S/A

PASMANIK & IRMÃOS S/A IND E COM

 

ON DECEMBER 2, 1992 IT MODIFIED THE CORPORATE NAME TO THE CURRENT ONE.

 

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO COMPLETE THIS REPORT.

 

A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SENT TO YOUR ATTENTION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

PROTESTS:

 

1  PROTEST,TOTAL AMOUNT R$ 150,00

 

DETAILS OF PROTEST:

 

NOTARY OFFICE:

DATE:

VALUE:

2º CARTÓRIO DE GUARA/DF

21/12/2012

R$ 150,00

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

8

MUNICIPAL LAWSUITS

08/11/12

VARA DE COTIA/SP

14

STATE LAWSUITS

09/11/12

VARA DE BRASÍLIA/DF

2

EVICTION

09/11/12

3ª VARA DE BARUERI/SP

1

EXECUTIVE LAWSUIT

27/09/12

1ª VARA DE SALVADOR/BA

 

 

FINANCIAL INFORMATION

 

DUE TO THE SUBJECT’S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SENT TO YOUR ATTENTION.

 

OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY.

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,03

 - OFFICIAL RATE ON 21/03/2013

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

SUBJECT IS REPORTED TO HAVE GOOD FINANCIAL SITUATION. HOWEVER, IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT THE SUBJECT’S CURRENT FINANCIAL STANDING.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 1.085.000,00

 

VEHICLES:

 

OWNED VEHICLES ARE VALUED AT R$ 266.822,80

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 4.279.122,44

 

 

INSURANCE

 

INSURANCE COMPANY:

PORTO SEGURO -  CIA DE SEGUROS GERAIS

COVERAGE:

FIRE

VALUE:

R$ 16.430.000,00

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO DO BRASIL S/A

11 6845-8364

SÃO PAULO/SP

BANCO ITAÚ S/A

11 3039-9125

SÃO PAULO/SP

BANCO BRADESCO S/A

11 3095-3500

SÃO PAULO/SP

BANCO SAFRA S/A

11 3175-8689

SÃO PAULO/SP

BANCO DAYCOVAL S/A

11 3138-0500

SÃO PAULO/SP

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

SUBJECT IS ENGAGED IN THE MANUFACTURE OF TEXTILES.

 

RETAIL SALE OF WEARING APPAREL IN GENERAL, AS WELL AS PERFUMERY, COSMETICS, GLASSES, WATCHES AND OTHER GIFT ARTICLES IN GENERAL.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

CHINA, URUGUAY, ITALY AND INDIA.

EXPORTS TO:

U.S.A

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

ESTABELECIMENTO DE MODAS MARIE CLAIRE LTDA

 

11  816-5044

F PIO & CIA LTDA

 

91  250-5050

FABIANA COMÉRCIO DE CONFECÇÕES LTDA ME

 

 

GREGORY MODAS INDUSTRIA E COMÉRCIO LTDA

 

11 3061-3666

HAPPY CMÉRCIO DE ROUPAS LTDA

 

 

IRMÃOS LERRER COMÉRCIO VESTUÁRIO LTDA

 

 

LINO & LINO LTDA – ME

 

65  623-3001

POLY MODAS LTDA

 

 

SZ COM IMP DO VESTUÁRIO LTDA

 

48  224-3369

 

STAFF:

 

THE COMPANY HAS: 730 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS AN OLD-ESTABLISHED FIRM. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY’S TRADE REPUTATION.

 

THE PROTEST FOUND IS CONSIDERED IRRELEVANT.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

COATS CORRENTS LTDA

 

11 3247-8000

S.LENE INDÚSTRIA TEXTIL

 

 

SANTA CONSTÂNCIA TECELAGEM S/A

 

11 6982-7853

SANTISTA TÊXTIL S/A

 

11 3748-0609

TECELAGEM BRASIL S/A

 

 

VICUNHA S/A

 

11 6099-1409

WERNER FÁBRICA DE TECIDOS LTDA

 

24 2237-7152

 

PAYMENT HISTORY:

 

22 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 5.921.039,00

 

AMOUNT OF INVOICES PAID: 394

TOTAL OF PROMPT PAYMENTS: 98,2%

TOTAL OF DELAYED PAYMENTS: 1,8%

 

HIGHEST INVOICE: R$ 78.425,90

HIGHEST CREDIT: R$ 110.445,50

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 90 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

2

R$ 9.904,31

DUE WITHIN 60 DAYS

1

2

R$ 9.904,31

DUE WITHIN 90 DAYS

2

5

R$ 107.419,91

ALL

2

9

R$ 127.228,53

 

 

FINAL OPINION

 

THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY OPERATING SINCE 1964. SO FAR IT HAS A NORMAL TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.89

UK Pound

1

Rs.84.92

Euro

1

Rs.72.51

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.