|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUHRMANN S.A. |
|
|
|
|
Registered Office : |
Ruta
25, Lote Ha, Chacra 73, Rawson, (9103) Province Of Chubu |
|
|
|
|
Country : |
Argentina |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.07.1999 |
|
|
|
|
Legal Form : |
Public
Limited Company |
|
|
|
|
Line of Business : |
Laundry
and Combing Wool. |
|
|
|
|
No. of Employees : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Usually Correct |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
FUHRMANN
S.A.
C.U.I.T.
30-69108475-9
FOLLOWER OF ACTIVITIES.
INCORPORATED IN 1999. BALANCE SHEET AS OF 31/12/2011. FIT FOR OPERATIONS IN RELATION TO YOUR RESOURCES KNOWN.
LAUNDRY AND COMBING WOOL.
LEGAL FORM PUBLIC
LIMITED COMPANY
CREATED 15/07/1999
REGISTERED RPC 24/08/1999
DURATION 99
YEARS
END OF FISCAL YEAR 31/12
AFIP N° 433
- 9 DE JULIO
297, TRELEW, CHUBUT.
ACCOUNTANT KARINA ABAD
LEGAL AND OPERATIVE
ADDRESS: RUTA 25, LOTE HA,
CHACRA 73, RAWSON, (9103)
PROVINCE OF CHUBUT.
PHONE./FAX:
54 0280 4449200
E_MAIL: KARINA.ABAD@FUHRMANN1735.COM
WWW.GSCHNEIDER.COM
PRESIDENT JOSE
GUILLERMO MARIO PEDRO GALLIA
DIRECTOR MARCO
GALLIA
ALTERNATE
DIRECTOR KARINA EDITH ABAD
ALTERNATE
DIRECTOR MAXIMO RICARDO GALLIA
Use of signature: President.
SOCIAL CAPITAL $ 5,500,000. -
99%
OF SHARES IS CONTROLLED POR SEFIT INDUSTRIES S.A. OF
LUXEMBURGO.
JOSE
GUILLERMO MARIO PEDRO GALLIA:
italian, married,
with DNI N° 93.932.712
MARCO
GALLIA:
argentine, married,
with DNI N° 22.431.316
KARINA
EDITH ABAD:
argentine, married,
with DNI N° 21.645.575
MAXIMO
RICARDO GALLIA:
argentine, married,
with DNI N° 20.468.765
Las
actividades motivo de la presente informacion,
datan del 15 de Julio de 1999,
cuando la empresa SCHNEIDER ARGENTINA S.A.,
inicio sus
actividades en nuestro pais, actuando como sucursal de THE SCHNEIDER
GROUP, con sede en Australia.
El 05 de
febrero de 2003, cambia su denominacion
por la actual, FUHRMANN S.A.,
establecida en la direccion de las senas.
FUHRMANN
SA AND COSU-LAN SA are merged ABSORPTION Source: Official Gazette
Chubut Province
- Number: 11206 of 13/04/11
Balance
sheet (Last known) as 31/12/2011:
ASSETS CURRENT $ 96.028.752
ASSETS NON CURRENT $ 24.521.420
TOTAL ASSETS $120.550.172
CURRENT LIABILITIES $
69.462.436
CURRENT NON LIABILITIES $ 6.467.860
NET WORTH $
44.619.876
NET SALES $240.776.833
PROFIT $
9.873.599
|
Balance Sheet/s |
|
31/12/2011 |
|
Total Assets |
$ |
120 . 550.172, 00 |
|
Current Assets |
$ |
96.028.752,00 |
|
Banks |
|
$ 0,00 |
|
Accounts Receivables |
$ |
61.314.906,00 |
|
Inventory |
$ |
34.713.846,00 |
|
Fixed Assets |
|
$ 0,00 |
|
Non-Current Assets |
$ |
24.521.420,00 |
|
Investments |
|
$ 0,00 |
|
Total Liabilities |
$ |
75.930.296,00 |
|
Current Liabilities |
$ |
69.462.436,00 |
|
Non-Current Liabilities |
|
$ 6.467.860,00 |
|
StockHolders Equity |
$ |
44.619.876,00 |
|
Net Sales |
$ |
240.776.833,00 |
|
Cost of Good Sold |
$ |
200.828.193,00 |
|
Gross Result |
$ |
39.948.640,00 |
|
Administrative Expenses |
|
$ 4.808.669,00 |
|
Selling Expenses |
$ |
16.090.862,00 |
|
Financial Income |
|
$ 0,00 |
|
Other Expenses |
$ |
-9.175.510,00 |
|
Final Result |
|
$ 9.873.599,00 |
Balance sheet analysis
|
Indexes |
31/12/2011 |
|
|
Current Ratio |
138,25 |
% |
|
Quick Ratio |
88,27 |
% |
|
Short Term Indebtedness |
155,68 |
% |
|
Debt to Equity Ratio |
170,17 |
% |
|
Long Term Assets to Total Assets |
20,34 |
% |
|
Fixed Assets to Equity |
0,00 |
% |
|
Total Assets to Total Liabilities |
158,76 |
% |
|
Debt Ratio |
62,99 |
% |
|
Equity Ratio |
37,01 |
% |
|
Investments to Assets Ratio |
28,80 |
% |
|
Current Investment |
79,66 |
% |
|
Stocks Aging Days |
63,09 dias |
|
|
Day Sales |
92,95 dias |
|
|
Trade Debtors To Assets |
50,86 |
% |
|
Total Assets Turnover |
199,73 |
% |
|
Net Worth Aging |
539,62 |
% |
|
Fixed Assets Aging |
Infinito |
% |
|
Gross Profit |
83,41 |
% |
|
Financial Expenses on Sales Ratio |
0,00 |
% |
|
Commercial Exp. on Sales Ratio |
6,68 |
% |
|
Administrative Exp. on Sales Ratio |
2,00 |
% |
Assets
CARRIAGES:
*
4 trucks Ford
REAL ESTATE:
*
RUTA 25, LOTE HA, CHACRA 73, RAWSON, (9103)
PROVINCE OF CHUBUT, of 28 acres and buildings several.
SANIN S.A.
C.U.I.T. 30-63195884-9
San Luis N° 885 City of Salta
COMPANIA DE TIERRAS SUD ARGENTINO S.A. MARSK CIA. NAVIERA S.A. FERRO RANQUEL S.A.
Payment Term: 60/90/120 days. Concept: Good.
Is dedicated society holder
to the development of the following activities: > PREPARING TEXTILE FIBRES
USING ANIMALS, EVEN WASHED WOOL.
For the development of its operations the
company has succeeded in forming a proper structure, in which under the direct supervision of the
makers themselves, perform numerous
employees in the care of various tasks.
Performs sales in the local market and
exports to India, Mexico, Colombia,
Turkey, Chile and other countries.
* 140 employees
FOREIGN TRADE:
In the last months made ??imports from China for usd 35.059.-
HSBC BANK ARGENTINA BRANCH RAWSON
BANCO DEL CHUBUT "
SANTANDER RIO "
DE GALICIA Y BS.AS. "
CREDIT RISK:
------------
11/2012
HSBC 19,469,800
del Chubut 17,391,400
Santander Rio 7,302,800
Galicia 3,915,500
Banco Macro 2,404,600
Bco Frances 2,189,200
American Express 18,700
Bco Patagonia 4,200
Total 52,696,200
SITUATION 1, NORMAL.
INSURANCE:
----------
SANCOR COOP DE SEGUROS LTDA. PREVENCIO ART
It is commercially related with local and
foreign companies. Many of them give it their credit support, using it in accordance with its needs.
According to our
consultations, there are no objections
aobut its payment record.
* FULFILLMENT: NOT OBJECTED
Bearing
in mind what has been exposed hereby, we
consider feasible the new credit treatment with this company with the adoption
of appropriate guarantees.
* FIT
FOR NEW OPERATIONS CREDITS.
BTDL
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
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.