|
Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOLIBDENOS Y METALES S.A. |
|
|
|
|
Registered Office : |
Camino Nos a Los Morros Nro. 66 San Bernardo - Maipo XIII Region Metropolitana |
|
|
|
|
Country : |
Chile |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
28.10.1975 |
|
|
|
|
Legal Form : |
Public Stock Company |
|
|
|
|
Line of Business : |
Marketer of molybdenum by-products |
|
|
|
|
No. of Employees : |
1.461 |
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 : |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for approximately one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides 19% of government revenue. From 2003 through 2012, real growth averaged almost 5% per year, despite the slight contraction in 2009 that resulted from the global financial crisis. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has joined the United States and nine other countries in negotiating the Trans-Pacific-Partnership trade agreement. In 2012, foreign direct investment inflows reached $28.2 billion, an increase of 63% over the previous record set in 2011. The Chilean Government has generally followed a countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and generally allowing deficit spending only during periods of low copper prices and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $20.9 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD.
Source
: CIA
MOLIBDENOS Y METALES S.A.
( MOLYMET )
Camino Nos a Los Morros Nro. 66
San Bernardo - Maipo
XIII Region Metropolitana
CHILE
Telephone : 56-2-29376600, 56-2-29376653, 56-2-29376676
E_Mail
: info@molymet.cl
Web Site : www.molymet.cl
Started : 1975
Total
Employees
: 1.461
Payments
: See Commercial Record
Capital : 000's$ 166.682.430.-
Sic(s) : 2899 - 6799
Line of Business: Marketing of molybdenum by-products.
Financial indicators
According to last financial statement, subject shows a good financial
situation,
as indicated in:
** Acceptable Working Capital
** Excellent Current Liquidity Ratio
** Good Acid Test Ratio
Economic situation is normal, as reflected in:
** Low Current Indebtedness Ratio
** Acceptable Total Indebtedness Ratio
** Excellent Solvency Ratio
** Normal Profitability Over Sales Ratio
** Low Profitability Over Assets Ratio
** Normal Profitability Over Net Worth Ratio
Commercial Bulletin : As at 11/02/2013
subject does not register protested
checks, bank drafts nor promissory notes in the
commercial information bulletin
Labor Bulletin : As
at 11/02/2013 does not register work infringements
Previsional bulletin : As At 11/02/2013 registers
social security
infringements
Previsional Detail
Date :17/12/2012
Reason :Undeclared
payrolls
Value :Ch$ 6.740.567,00.-
Months :23
Bulletin :139
Page :150679
Drawer : AFP
Provida
Consolidated delinquency : As at 11/02/2013, subject does not register any
delinquent bill
TRADE REFERENCES
Suppliers' trade references are supplied as follows:
Detail of References
Old
: Since 2001
Last purchase : 11-2012
Terms : 60 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 5.000
Owes : (000'sUS$)
3.000
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 2.000
Old : Since
1996
Last purchase : 11-2012
Terms : 30 days
Payment : Prompt
Notes : order form
Credit : (000'sUS$) 4.000
Owes : (000'sUS$)
2.800
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 4.500
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 2001 01-12 Prompt
invoice
4.000
-
Since 1996 01-12 Prompt order
form
4.000 3.000
Since 1996 01-11 Prompt order
form
4.000 None
Since 1996 04-10 Prompt order
form
4.000 None
Since 2002 03-10 Prompt order
form
50.000 None
Since 2002 10-09 Prompt order
form
- None
Since 1996 10-09 Prompt order
form
5.000 None
Since 1996 05-09 Prompt order
form
5.000 None
Since 2002 05-09 Prompt order
form
- None
Since 2002 06-08 Prompt order
form
-
-
Since 1996 06-08 Prompt order
form
5.000
-
Since 1996 04-08 Prompt order
form
5.000
-
Since 1996 03-07 Prompt order
form
5.000
-
Since 2001 01-07 Prompt order
form
10.000 None
Since 2001 07-06 Prompt order
form
4.000
-
10 years 07-06 Prompt order
form
5.000
-
10 years 03-06 Prompt order
form
1.500
-
Since 2001 03-06 Prompt order
form
6.000
-
5 years 03-06 Prompt
checks
Open
-
Since 2001 10-05 Prompt order
form
6.000
-
5 years 10-05 Prompt
checks
Open
-
10 years 10-05 Prompt order
form
1.500
-
10 years 02-05 Prompt order
form
1.500
842
5 years 02-05 Prompt
checks
Open
-
Since 2001 02-05 Prompt order
form
6.000 2.300
10 years 02-04 Prompt order
form
5.000
-
5 years 02-04 Prompt
checks
Open
-
10 years 02-04 Prompt
checks
5.000
-
The account holder credit report reflects one social security infringement
included in this report.
During the last 6 months, the account holder credit history shows 117 credit
review inquiries requested by companies, insurance companies, financial
institutions and businesses in general.-
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
C O M P A R A T I V E - S U M M A R Y
( Figures in Thousand Pesos, local currency )
( Please note that last Balance Sheet does not correspond to annual
figures)
From 01/01/2012
01/01/2011 01/01/2010
To 30/09/2012 31/12/2011
31/12/2010
CURRENT
ASSETS
362.435.944
552.377.364 491.003.937
CURRENT
LIABILITIES
203.992.569
152.055.650 144.692.721
WORKING
CAPITAL
158.443.375
400.321.714 346.311.216
FIXED
ASSETS
233.886.509
248.436.581 227.692.363
OTHER
ASSETS
244.939.090 38.679.295
34.892.244
LONG TERM
LIABILITIES
206.474.177
222.724.953 194.407.219
NET
WORTH
430.794.797
464.712.637 414.488.604
OPERATING
INCOMES
448.230.007
693.685.202 631.248.330
CURRENT
PROFIT(LOSS)
25.490.248
54.807.532 45.674.140
B A L A N C E S H E E T
CONSOLIDATED FISCAL YEAR COMPLETE
ASSETS
30/09/2012 31/12/2011
Cash
111.333.107 118.094.525
Term
Deposits
59.096.648 209.153.956
Sales
Debtors
2.139.545 2.693.341
Notes
Receivable
66.697.814 63.057.029
Notes & Accts
Receivable/Interco.Relations
2.424.755 2.664.139
Inventory
113.488.287 154.649.392
Taxes
Recoverable
7.255.788 2.064.982
CURRENT
ASSETS
362.435.944 552.377.364
Other Fixed
Assets
13.578.248 13.415.080
Net Fixed
Asset
220.308.261 235.021.501
FIXED
ASSETS
233.886.509 248.436.581
Investments in Related
Companies
232.618.701 21.287.040
Long Term
Debtors
1.032.819 2.305.896
Intangibles
933.327 1.140.954
Other
10.354.243 13.945.405
OTHER ASSETS
244.939.090 38.679.295
TOTAL
ASSETS
841.261.543 839.493.240
LIABILITIES
30/09/2012 31/12/2011
Oblig.With Banks & Financ.Inst.Short
Term
132.289.850 72.165.892
Accounts
Payable
59.152.553 65.594.453
Notes & Accts Payable Related
Companies
25.584 255.515
Provisions
397.967 421.861
Withholdings
805.409 4.094.504
Other Current
Liabilities
11.321.206 9.523.425
CURRENT
LIABILITIES
203.992.569 152.055.650
Oblig.with Banks & Financial
Intitutions
165.190.333 186.997.642
Notes
Payable
34.585
0
Provisions
41.249.259 9.100.520
Other Long Term
Liabilities
0 26.626.791
LONG TERM
LIABILITIES
206.474.177 222.724.953
Paid
Capital
193.279.209 211.823.831
Other
Reserves
-16.114.813 -14.563.335
Accumulated
Profits
223.244.214 207.790.338
Current Profit
(Losses)
25.490.248 54.807.532
Provisory
Dividends
4.895.939 4.854.271
NET
WORTH
430.794.797 464.712.637
TOTAL
LIABILITIES
841.261.543 839.493.240
STATEMENTS OF
RESULTS
30/09/2012 31/12/2011
Operating
Income
448.230.007 693.685.202
Operating
Cost
-388.066.428 -588.776.836
OPERATING
MARGIN
60.163.579 104.908.366
Administration & Sales
Expenses
-21.737.515 -33.135.133
OPERATING
RESULT
38.426.064 71.773.233
Financial Incomes
3.497.370 12.014.961
Profit Investmens Related
Companies
4.828.190
0
Other non Operating
Incomes
1.750.106 4.413.637
Loss investment Related
Companies
0 -159.567
Financial
Expenses
-8.630.194 -12.727.795
Other non Operating
Expenses
-3.408.301 -5.269.875
Exchange
difference
-300.844
0
NON OPERATING
RESULT
-2.263.673 -1.728.639
Result Before Income
Tax
36.162.391 70.044.594
Income
Tax
-10.672.143 -15.251.141
Monority
Interest
0 14.079
NET
PROFIT(LOSS)
25.490.248 54.807.532
CURRENT
PROFIT(LOSS)
25.490.248 54.807.532
ECONOMIC - FINANCIAL RATIOS
30/09/2012
31/12/2011 Average
Working
Capital
(000's$) 158.443.375
400.321.714 279.382.545
Current Liquidity
(Times)
1,78
3,63 2,71
Acid
Test
(Times)
1,22 2,62
1,92
Collection Period Days (
Days)
57,23
35,50 46,37
Accounts Receivable
Turnover(Times)
6,29
10,14 8,22
Inventory Turnover
(Times)
3,42
3,81 3,62
Current Indebtedness
(Times)
0,47
0,33 0,40
Total Indebtedness
(Times)
0,95
0,81 0,88
Solvency
(Times)
2,05
2,24 2,15
Assets Tying
Up
( % )
27,80
29,59 28,70
Profitability Over Sales ( %
)
5,69
7,90 6,80
Profitability Over Assets ( %
)
3,03
6,53 4,78
Profitability Over Net Worth( %
)
6,29
13,37 9,83
BANKS
Subject operates with the following banks:
National
- Banco Bice
- Banco Bilbao Vizcaya Argentaria, Chile
- Banco de Chile
- Banco de Credito e Inversiones
- Banco Security, main office
- BancoEstado
- Corpbanca
International
- J.P. Morgan Chase United States
Line of Business : Marketing of molybdenum by-products. Oxides, chemical
products, basic industrial chemical substances, mineral
products, ferro molybdenum, among others.
CERTIFICATION ISO 9001: 2000 - ISO 2001 : 2008.-
Classification according to commercial activity:
Sic: 2899-0000 Chemical preparations
Sic: 6799-0000 Investors
Subject is considered as a large company in this line of business, normal
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 2%.
Sales conditions: Cash and credit.
International: 98%.
Exports to Germany, Argentina, Australia, Austria, Belgium, Brazil, Canada,
China, Colombia, North Korea, South Korea, United Arab Emirates, Spain,
Finland,
Netherlands, Hong Kong, India, England, Japan, Malaysia, Mexico, Peru,
Singapore, Southafrica, Sweden, Taiwan, Thailand and United States
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Netherlands
50,07 33,50
United
States
16,43 22,42
Belgium
7,74 7,16
Japan
6,87 6,40
Brazil
5,16 5,96
Austria
4,32 5,13
Sweden
2,34 1,97
Australia
1,02 1,17
Mexico
0,90 0,23
Southafrica
0,86 1,01
Germany
0,61 0,12
Argentina
0,50 0,38
China
0,50 1,56
England
0,48 1,63
Taiwan
0,46 1,51
Spain
0,41 0,67
India
0,26 3,78
Thailand
0,25 0,21
Finland
0,21 1,11
South
Korea
0,20 3,91
Canada
0,19 0,06
Singapore
0,05 0,00
United Arab
Emirates
0,04 0,00
Hong
Kong
0,04 0,00
North Korea
0,04 0,00
Colombia
0,02 0,00
Peru
0,01 0,00
Malaysia
0,00 0,00
Historical registries
Total 2011 = 000's$ 525.585.544 Accumulated 2012 = 000's$ 330.194.057
Total 2009 = 000's$ 299.655.841
Total 2008 = 000's$ 1.061.336.355
Total 2007 = 000's$ 870.135.895
Total 2006 = 000's$ 814.195.548
Total 2005 = 000's$ 705.822.065
Total 2004 = 000's$ 373.216.001
Total 2003 = 000's$ 106.669.208
Customers
Main customers are: Companies in general.
The 3 most important customers are:
Cap S.A., Compañia Electro Metalurgica S.A. and Aceros y Metales
Sociedad
Limitada.
Purchases
Places orders with multiple suppliers
National: 50%
International: 50%
Imports from Germany, Argentina, Belgium, Brazil, Canada, China, North Korea,
South Korea, Denmark, Spain, France, England, Japan, Mexico, Peru, Turkey and
United States
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Peru
43,97 58,88
Mexico
23,05 33,51
United
States
19,19 0,09
Canada
11,83 5,48
China
1,59 1,38
Argentina
0,16 0,28
Brazil
0,09 0,05
North
Korea
0,03 0,00
South
Korea
0,02 0,08
Japan
0,02 0,05
Turkey
0,01 0,01
Denmark
0,01 0,04
France
0,01 0,00
Germany
0,01 0,07
Belgium
0,00 0,00
England
0,00 0,00
Spain
0,00 0,00
Historical registries
Total 2011 = 000's$ 311.452.142 Accumulated 2012 = 000's$ 189.430.392
Total 2009 = 000's$ 174.751.674
Total 2008 = 000's$ 529.529.057
Total 2007 = 000's$ 494.465.892
Total 2006 = 000's$ 316.461.140
Total 2005 = 000's$ 375.794.897
Total 2004 = 000's$ 148.404.368
Total 2003 = 000's$ 48.233.099
Main suppliers
- Coagra S.A.
- Compañia de Petroleos de Chile Copec S.A.
- Corporacion Nacional del Cobre de Chile
- Electricidad Gobantes S.A.
- Empresa Nacional de Energia Enex S.A.
- In Motion Servicios S.A.
- Manufacturas Metalurgicas Rheem Chilena Limitada
- Minera Anglo American Chile Ltda.
- Minera Sur Andes S.A.
- Oxiquim S.A.
- Petrobras Chile Distribución Ltda.
- Plasticos Haddad S.A.
- Rhein (Chile) S.A.
Employees: 1.461 employees
Location
- Previously and until July 31, 2011 subject was located at Huérfanos
812, Of.
612. Currently, it is located at Camino Nos a Los Morros Nro. 66
San
Bernardo, Chile
Branches
- Industry located at Avda. Peñuelas 0258 San Bernardo Chile
RELATED COMPANIES
Subject is related to the following companies:
National
- Carbomet Industrial S.A. T A X 96103000-5 San Bernardo, 99,99%
Participation
- Inmobiliaria San Bernardo S.A. T A X 96953640-4, 99,99% Participation
- Molymet Recycling Ltda. T A X 76172181-K, 99,00% Participation
- Molymet Trading S.A. T A X 76107905-0 San Bernardo, 99,00%
Participation .
Sales as at 31/12/2011 000's$ 107.558.948
- Carbomet Energia S.A. T A X 91066000-4 San Bernardo, 52,76%
Participation
- Carbomet Inmobiliaria S.A. T A X 76216414-0, 52,75% Participation
- Inmobiliaria San Jose de Nos S.A. T A X 96999080-6, 0,02% Participation
- Complejo Industrial Molynor S.A. T A X 76016222-1 Mejillones, 0,01%
Participation
International
- Molymet Corporation, United States 99,9%
- Molymex S.A. de C.V., Mexico 99,99%
- Chemiemetall GmbH, Germany
- Molymet Do Brasil, Brazil 90%
- Strategic Metals B.V.B.A., Belgium 99,99%
FIXED ASSETS
Real estates
Subject registers real estates
- Farming exploitation, Las Lilas de Nos Lt. 3 B San Bernardo-Chile,
Fiscal
value of 000's$ 300.743.-, rol Nº 5500-114
- Farming exploitation, Rinconada Nos Pc. 19 Lt. 3 San Bernardo-Chile,
Fiscal
value of 000's$ 21.311.-, rol Nº 5500-36
- Farming exploitation, La Querencia Pc. 8 Lt. B 4 A San Bernardo-Chile,
Fiscal
value of 000's$ 6.618.-, rol Nº 5500-115
- Industry, Cinco Pinos 0331 San Bernardo-Chile, Fiscal value of 000's$
383.959.-, rol Nº 5500-130
- Farming exploitation, Peñuelas 0725 Nos San Bernardo-Chile, Fiscal
value of
000's$ 8.439.-, rol Nº 5500-151
- Farming exploitation, Camino Nos Pc. C Querencia San Bernardo-Chile,
Fiscal
value of 000's$ 28.374.-, rol Nº 5500-157
- Premises, Huérfanos 812, Oficina 501 Santiago-Chile, Fiscal value of
000's$
477.875.-, rol Nº 101-865
- Sites, Las Acacias con Ochagavia San Bernardo-Chile, Fiscal value of
000's$
788.788.-, rol Nº 4510-30
- Sites, Peñuelas San Bernardo-Chile, Fiscal value of 000's$ 199.909.-,
rol Nº
5500-79
- Industry, Camino Nos San Bernardo-Chile, Fiscal value of 000's$
3.192.850.-,
rol Nº 5500-82
- Industry, Los Suspiros 3700 San Bernardo-Chile, Fiscal value of 000's$
2.059.321.-, rol Nº 5500-91
- Previous, Huérfanos 812 Of. 612 Santiago-Chile, Fiscal value of 000's$
277.229.-, rol Nº 101-869
- Parking lot, Huérfanos 653 Box B 712 Santiago-Chile, Fiscal value of
000's$
1.823.-, rol Nº 121-894
- Building, Huérfanos 812 Of. 608 Santiago-Chile, Fiscal value of 000's$
33.141.-, rol Nº 101-868
- Branch, Avda. Peñuelas 0258 San Bernardo-Chile, Fiscal value of 000's$
204.178.-, rol Nº 5.500-80
- Farming exploitation, Parcela 11 Nos San Bernardo-Chile, Fiscal value
of
000's$ 18.215.-, rol Nº 5500-27
- Farming exploitation, Parcela 9 Ex Fundo Las Lilas San Bernardo-Chile,
Fiscal
value of 000's$ 18.822.-, rol Nº 5500-28
- Farming exploitation, Cinco Pinos Pc. 9 San Bernardo-Chile, Fiscal
value of
000's$ 43.743.-, rol Nº 5500-24
- Industry, Las Lilas Hijuelas A San Bernardo-Chile, Fiscal value of 000's$
59.076.-, rol Nº 5500-49
Total fiscal appraisal $ 8.124.415.180.-
Machinery & Instalations
Equipments and machinery, not specified
INSURANCES
Insurance covering interests are undersigned
Insurance Services Brokers
Covering all risks.
President
: Carlos Hurtado Ruiz-Tagle TAX:2300859-9
Vice President : George Anastassiou Mustakis
TAX:6374232-5
Director
: Jorge Gabriel Larraín Bunster TAX:4102581-6
Director
: Raúl Alamos Letelier TAX:5545475-2
Director
: Alberto Pirola Gianoli TAX:6957184-0
Director
: Eduardo Guilisasti Gana TAX:6290361-9
Director
: Michael Schwarzkopf
Director
: José Miguel Barriga Gianoli TAX:6978911-0
Director
: Gonzalo Ibáñez Langlois TAX:3598597-2
ADMINISTRATION
General Manager and CEO : John Patrick Graell Moore TAX:6153784-8
Corporate Manager for : Manuel Guzmán Manzo TAX:4917151-K
Research and Development
Corporate Manager for : Francisco J. Fernández Cañas
TAX:6028944-1
Finances and IT.
Corporate Manager for : Francisco de los Rios
Human Resources and
Corporate Affairs
Accounting Manager : Máximo Jara Leal
Finance Vice President : Jorge Ramírez Gossler TAX:7017179-1
Commercial Vice : Gonzalo
Bascuñán Obach TAX:12797030-0
President
Vice President for : Fernando Alliende
Correa TAX:4883753-0
International and New
Businesses Area
Vice President :
Luis Gonzalo Concha Parada TAX:7817539-7
Engeneering
Operation Vice President : Gabriel Gutiérrez Clavería TAX:5146447-8
Operation Vice :
Rafael Raga Castellanos TAX:4363486-0
President for Molymex
and Real Estate
Companies
Auditor Corporate : Claudia Avendaño
Rozas TAX:11959266-6
Internal
CURRICULUM
John Patrick Graell Moore
T A
X
: 6153784-8
Studies
: Finished studies in Universidad de Chile
Titled as :
Industrial Civil Engineer.
Position :
General Manager and CEO
Curriculum : Founder
partner and Director of Agrícola Cerrillos de
Tamaya and President of Viña Tamaya, a company with a very
successful growth.He has worked in the consultancy
services area for more than 10 years as Technical Director
of Inecon, developing works for the public and private
sector.
Manuel Guzmán Manzo
T A
X
: 4917151-K
Titled as :
Chemical Civil Engineer.
Position :
Corporate Manager for Research and Development
Francisco J. Fernández Cañas
T A
X
: 6028944-1
Titled as :
Computer Engineer.
Position :
Corporate Manager for Finances and IT.
Jorge Ramírez Gossler
T A
X
: 7017179-1
Titled as :
Commercial Engineer.
Position :
Finance Vice President
Carlos Hurtado Ruiz-Tagle
T A
X
: 2300859-9
Studies
: Finished studies in Universidad de Chile .
Titled as :
Economist
Position :
President
Curriculum : University
professor, advisor on economy and projects. He
was Minister of Public works during the government of
President Aylwin. Founder and member of the board of
directors of important chilean companies.-
Gonzalo Bascuñán Obach
T A
X
: 12797030-0
Titled as : Commercial
Engineer.
Position :
Commercial Vice President
Fernando Alliende Correa
T A
X
: 4883753-0
Titled as :
Industrial Civil Engineer.
Position :
Vice President for International and New Businesses Area
Luis Gonzalo Concha Parada
T A
X
: 7817539-7
Titled as :
Mechanical Civil Engineer.
Position :
Vice President Engeneering
Gabriel Gutiérrez Clavería
T A
X
: 5146447-8
Titled as :
Metallurgical Civil Engineer.
Rafael Raga Castellanos
T A
X
: 4363486-0
Titled as :
Metallurgical Civil Engineer.
Position :
Operation Vice President for Molymex and Real Estate
Companies
Claudia Avendaño Rozas
T A
X
: 11959266-6
Titled as : Auditor
Accountant.
Position :
Auditor Corporate Internal
Eduardo Guilisasti Gana
T A
X
: 6290361-9
Titled as : Civil
Engineer.
Position :
Director
Gonzalo Ibáñez Langlois
T A
X
: 3598597-2
Titled as :
Commercial Engineer.
Position :
Director
Legal Structure : Public Stock Company
Constitution date : 28/10/1975. Registered on leaf 1.215
N°689, Valparaíso
Trade Real Estate Registry, dated December 23, 1975.
Registered in the Superintendency of Securities N° 0191
on April 04, 1983.
Term of duration : Indefinite
Legal Address : Santiago - Chile
Current Social Capital: 000's$ 166.682.430.-Divided to 127.111.084.- registered
shares unique series
Shareholder :
- 11,51% Plansee Limitada
- 10,70% Nueva Carenpa S.A.
- 10,43% Inversiones Lombardia S.A.
- 7,93% The Atlantic S.A.
- 6,25% 72251700-8 Fundacion Gabriel y Mary Mustakis
- 4,68% Ed Harvey Trust Corporation
- 4,68% Osvald Wagner Trust Co. Inc.
- 4,68% Phil White International Corp.
- 4,15% Rentas e Inversiones Octay S.A.
- 4,15% Marea Sur S.A.
- 3,74% Whar Plot Corp
- 3,65% 90412000-6 Minera Valparaiso S.A.
Administration is held by General Manager and CEO.
Legal changes
Public Deed dated 02/01/1984, notary Sergio Rodriguez Garcés, Santiago,
published in the Official Gazette dated 06/01/1984 page N° 13, corporate
structure was modified: Subject was divided into 2 companies: one is the
continuer, which keeps its business name with a capital of $238.027.409 divided
into 104.000.000 registered and same value shares, and the other company with
business name Desarrollos Técnicos S.A. and a capital of $401.647.000 divided
into 104.000.000 shares.
Public Deed dated 12/07/1989, notary Aliro Veloso Muñoz, Santiago, published in
the Official Gazette dated 17/08/1989 page N° 9, capital was increased: to
$532.321.598.-
Public Deed dated 01/12/1989, notary Aliro Veloso Muñoz, Santiago, published in
the Official Gazette dated 18/12/1989 page N° 9, statutes were modified: subject
was divided into 2 companies, one which keeps its business name (subject) and a
new one with business name RIO VILAMA S.A. Its line of business will be
the
manufacture of molybdenum oxide, ferromolybdenum, ammonium perrenate, etc.
Public Deed dated 25/11/2002, notary René Benavente Cash, Santiago, published
in
the Official Gazette dated 29/11/2002 page N° 17, capital was increased: it was
agreed to express capital in dollars, which is US$2.182.077,35 divided into
104.000.000 no par value shares.-
Public Deed dated 05/01/2005, notary René Benavente Cash, Santiago, published
in
the Official Gazette dated 14/01/2005 page N° 15, capital was increased: from
US$2.182.077,35 divided into 104.000.000 no par value shares, to
US$106.182.077,35 divided into same amount of no par value shares. At the same
time, capital of US$106.182.077,35 was increased to US$158.182.077,35 divided
into 124.800.000 no par value shares.
(Rectified in official gazette dated Jan 22, 2005, page 13).-
Public Deed dated 25/09/2008, notary Juan Francisco Alamos Ovejero, Santiago,
published in the Official Gazette dated 01/10/2008 page N° 34, capital was
increased: to US$348.270.853,35 divided into 127.111.084 no par value
shares.-
Public Deed dated 16/08/2010, notary Eduardo Javier Diez Morello, Santiago,
published in the Official Gazette dated 21/08/2010 page N° 7, statutes were
modified: it was agreed to increase the amount of directors from 7 to 9
members.-
Public Deed dated 06/06/2011, notary Eduardo J. Diez Morello, Santiago,
published in the Official Gazette dated 13/07/2011, statutes were modified: did
not publish details.-
CAPITAL US$ 348.270.853,35 x $485,06 (exchange rate as of March 6, 2012)
=$168.932.260.125.-
PUBLICATIONS
Information regarding subject is supplied as follows
DIARIO FINANCIERO of 24/03/2010 Molymet, company linked to the families Matte,
Gianoli and Mustakis, reported as a relevant statement sent to the
Superintendency of Securities and Insurances (SVS) that its affiliate company
located in China made an agreement to purchase the 50% of the firm Luoyang
High-Tech Molybdenum Tungsten Material, which is engaged in the elaboration of
molybdenum by-products.
The agreement was subscribed with China Molybdenum, the headquarters of the
japanese company.
The operation includes the payment of US$37.7 millions for this asset -
figures subject to modification at the moment of the operation's closing.
"The final business conditions should be fulfilled within the next two
months, and related , among others, to the ratification by the board of
directors of the purchasing and selling companies, the approval of the
authorities and the registration in the corresponding registers of the People's
Republic of China", stated the company to the SVS.
In the document, it was also explained that the acquisition will be carried
out with own resources and that this will not have financial effects. -
Economía y Negocios El Mercurio Cuerpo B Pag 5 of 10/03/2012 Molymet fulfilled
the purchase
On March 8, Molymet acquires the 13% of the Molymet Company in the USA. The
transaction, announced in february, involved the purchase of 12.500.000 shares
of the American company which amounted to US$ 390,2 millions.
Molycorp is engaged in the production of minerals known as rare earth
elements. -
INFORMATION SOURCES
Mr. Máximo Jara Leal, Accounting Manager, submitted just general
information, outside sources provided Consolidated balance sheets.
IMPORTANT NOTE TO CONSOLIDATED BALANCE SHEETS
When entering consolidated balance sheets into the evaluation system,
they are not taken into account for assessment purposes as they do not
represent the actual
situation of the subject company, therefore, they are not considered for
credit recommendation purposes.
-Other outside information sources.
Exchange rate
-As at 28/12/2012 $478,60 Per US$
-As at 30/09/2012 $473,77 Per US$
-As at 31/12/2011 $521,46 Per US$
-As at 31/12/2010 $468,01 Per US$
CREDIT RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually used
in
the commercial credit evaluation.
The amounts are based on the risk percentages'assignment to the following
indicators: Trade references, number of employees, legal structure,
protested
bills, labor & welfare infringements, unpaid bills, operations, insurances,
net
profit, net worth, working capital and liquidity variations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.91.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.