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Report Date : |
30.01.2013 |
IDENTIFICATION DETAILS
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Name : |
TECNISPICE S.A. DE C.V. |
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Registered Office : |
Kilómetro 11.5 Carretera al Puerto de La Libertad, Parque Industrial
El Progreso, Bodega |
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Country : |
El Salvador |
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Date of Incorporation : |
26.02.2010 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Subject is engaged in processing and distributing condiments, spices, additives
and ingredients for the food industry. |
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No. of Employees : |
16 (11 office , 5 operators) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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El Salvador |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
EL SALVADOR - ECONOMIC OVERVIEW
The smallest country in Central America geographically, El
Salvador has the third largest economy in the region. With the global recession
in 2009, real GDP contracted by 3.1%. The economy began a slow recovery in 2010
on the back of improved export and remittances figures. Remittances accounted
for 17% of GDP in 2011 and were received by about a third of all households. In
2006, El Salvador was the first country to ratify the Dominican
Republic-Central American Free Trade Agreement (CAFTA-DR), which has bolstered
the export of processed foods, sugar, and ethanol, and supported investment in
the apparel sector amid increased Asian competition. El Salvador has promoted
an open trade and investment environment and has embarked on a wave of
privatizations extending to telecom, electricity distribution, banking, and
pension funds. The Salvadoran Government maintained fiscal discipline during
post-war reconstruction and reconstruction following earthquakes in 2001 and
hurricanes in 1998 and 2005. Taxes levied by the government include a value
added tax (VAT) of 13%, income tax of 30%, excise taxes on alcohol and
cigarettes, and import duties. The VAT accounted for about 51.7% of total tax
revenues in 2011. Calculated according to the International Monetary Fund (IMF)
standards, El Salvador's public external debt in December 2011 was about $12.95
billion or 57.3% of GDP. El Salvador's total public debt includes non-financial
public sector debt, financial public sector debt, and central bank debt. In
2006, El Salvador and the Millennium Challenge Corporation (MCC) - a United
States Government agency - signed a five-year, $461 million compact to
stimulate economic growth and reduce poverty in the country's northern region,
the primary conflict zone during the civil war, through investments in
education, public services, enterprise development, and transportation
infrastructure. In December 2011, the MCC approved El Salvador's eligibility to
develop a proposal for a second compact for consideration.
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Source : CIA |
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CORRECT COMPANY NAME |
TECNISPICE S.A. DE C.V. |
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TRADE NAME |
TECNISPICE |
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TAXPAYER REGISTRATION |
NIT 06142602101020 |
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MAIN ADDRESS |
Kilómetro 11.5 Carretera al Puerto de La Libertad, Parque Industrial
El Progreso, Bodega A |
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PROVINCE / DEPARTAMENT |
Santa Tecla / La Libertad |
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COUNTRY |
EL SALVADOR |
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TELEPHONE |
(503) 25602200 - 22889994 - 25052200 |
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E-MAIL |
dguevara@tecnispice.com |
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WEB |
www.tecnispice.com |
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Date of foundation |
2010 |
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Capital stock |
US$6,250,000.= Dollars |
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permanent employees |
16 (11 office , 5 operators) |
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Chief Executive |
GARCIA BENITEZ, BENEDICTO |
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Disposition |
POOR (Politely provided very few information). |
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Payments policy |
Usually to terms/good |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
26FEB2010 |
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PLACE OF REGISTRY |
La Libertad |
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NOTARY OFFICE |
Julio Roberto Bermejo Quiñonez |
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REGISTRATION |
No. 88471, Page 144, Book 182; File 31798/201 |
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CURRENT PAID-IN CAPITAL |
US$6,250,000.= Dollars |
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LISTED AT STOCK EXCHANGE |
No |
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COMMENTS |
The Company's incorporation was published in the Journal of Central
America |
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BUESO MATHEU,
STEPHEN ALEJANDRO |
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NATIONALITY |
Guatemalan |
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D.O.B. |
1975 |
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ID |
CI A-01 910222 |
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PROFESSION |
University Graduate |
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ASSOCIATED AS PER OUR DATABASE TO |
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BUESO DERAS,
ESTUARDO ROBERTO |
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NATIONALITY |
Guatemalan |
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D.O.B. |
07JUN1950 |
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ID |
CI A-01 392142 |
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PROFESSION |
Businessman |
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TAX ID |
466205-9 |
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BACKGROUND INFORMATION |
Place of birth: Guatemala Parents: Ricardo Bueso Portillo and Carmen Deras. Passport No.2154708 Registered domiciles: - Km 19, Carretera Rooselvet, Zona 3, Colonia Lo de Coy, Mixco,
Guatemala. - Calle Gerardo Barrios Lote 906 D, San Salvador, El Salvador. - 29 Calle 1-43 Zona 3, Guatemala - 3 Calle 0-36 Zona 1, Guatemala REAL ESTATE: Mr. Estuardo Roberto Bueso Deras is the owner of the
following real properties: - Km. 19 Carretera Roosevelt de Coy, Mixco, Guatemala (750 m2) Property Record 1260,
Page 8, Book 393 - Km. 19 Carretera Roosevelt de Coy, Mixco, Guatemala (2,961 m2) Property Record
41943, Page 8, Book 347 Vehicles: He owns the following vehicles: (01) TOYOTA 4-Runner Van, year 2000, licence plate P234BXN (01) SUZUKI motorcycle, year 1987, licence plate M46085 |
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ASSOCIATED AS PER OUR DATABASE TO |
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PARTICIPATED IN |
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GARCIA BENITEZ,
BENEDICTO |
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NATIONALITY |
Salvadoran |
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ALVARENGA CELARIE, FATIMA MARIA |
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BACKGROUND INFORMATION |
Previously she worked at Productos Carnicos S.A de C.V (Sigma
Alimentos El Salvador) from September 2009 to September 2010 (1 year one
month). |
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GUEVARA, DORA ALICIA |
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NATIONALITY |
Salvadoran |
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PROFESSION |
C.P.A. |
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SIC
Classification |
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Main activity |
Subject is engaged in processing and distributing condiments, spices,
additives and ingredients for the food industry. Trademark: "SASON" Other brands it sells: "ARCOR", "RED BULL", "CALVO",
"CENTROLAC", "CREMORA, "DEL MONTE, "DON
VITTORIO", "MCCORMICK" |
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Import |
Yes |
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Country |
China, Canada, Guatemala and USA |
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Export |
No |
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% CASH SALES / METHOD |
50% |
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% Credit SALES / Terms |
50% (30-day terms) |
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% FOREIGN PURCHASES |
100% |
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SELLING TerritorY |
100% (Domestic market) |
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EMPLOYEES |
16 (11 office , 5 operators) |
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Comments |
Customers: food, bakery, ice cream industries and restaurants, etc. Business purpose: Manufacture, import, export, distribution, purchase,
sale, commercialization of all food and beverages, raw materials for
preparing food and beverages, processed and semi-finished products,
formulation development services and technical assistance in the preparation
of ingredients additives and raw materials for processing of foods and
beverages, everything related to the administration of goods of all kinds,
especially the real estate management and others contained in the Articles of
Incorporation. The Company has its own microbiologic laboratory, where they perform
essential and basic analysis, as well as the control of physical and chemical
and sensory type. Besides, they have a
traceability quality system to register and save information of each
production lot, as well as a retention area of any lot samples and an
acceleration camera to the measurement of shelf's life. |
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Interviewee(s) |
Dora Alicia Guevara |
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Position(s) |
Accountant |
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Disposition |
POOR (Politely provided very few information). |
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Information provided |
The interviewed person kindly provided commercial information indicating
that she would analyze our request for financial information. She will
respond in the course of next few days. If outcome is positive, immediately we will be sending to you a
supplemental report; otherwise, please consider this as a final report. For our part, we resorted to various indirect sources to complement
information, but it was virtually impossible to find balance sheets and / or
reference sales figures at sources researched. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINED Subject's Financial Position is considered UNDETERMINED, since there
are no financial figures allowing a financial analysis of the results in its
last fiscal year. However, it should be mentioned recent references provided by
suppliers revealed stable operations and moderate credit amounts which are
paid within specified terms. Subject is creditworthy. |
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Property of company comments |
Subject has sterilization systems for spices and herbs |
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INSURANCE |
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(Confidential Information)
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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Supplier |
Country |
Comment |
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CROWN PRODUCTS |
U.S.A. |
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CROWN PRODUCTS |
CHINA |
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JINING |
CHINA |
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ROY INC. |
CANADA |
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CARGILL |
U.S.A. |
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OPERACIONES
COMERCIALES INTERNACIONALES |
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PRIME SEEDS INTERNATIONAL
INC. |
U.S.A. |
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CROWN PRODUCTS
INC |
U.S.A. |
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LAWSUITS
No claims or lawsuits were found filed against this Company so far.
BANKERS
Subject Company is a client of the above bank where not provide
information because of privacy policy.
REPUTATION
NOTHING AGAINST
COMPANY
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.70 |
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1 |
Rs.84.35 |
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Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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.