MIRA INFORM REPORT
|
Report Date : |
05.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
QUIMICA INTERNACIONAL SA |
|
|
|
|
Registered Office : |
Manzana 24 Lote 5 Zona 11 Jardines Minerva II, Mixco |
|
|
|
|
Country : |
Guatemala |
|
|
|
|
Date of Incorporation : |
03.08.1996 |
|
|
|
|
Com. Reg. No.: |
Deed No 199 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Import, trade and distribution of chemicals and colorants for the
textile sector |
|
|
|
|
No. of Employees : |
06 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Guatemala |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Guatemala - ECONOMIC
OVERVIEW
Guatemala is the most populous country in Central America with a GDP
per capita roughly one-half that of the average for Latin America and the
Caribbean. The agricultural sector accounts for 13% of GDP and 38% of the labor
force; key agricultural exports include coffee, sugar, bananas, and vegetables.
The 1996 peace accords, which ended 36 years of civil war, removed a major
obstacle to foreign investment, and since then Guatemala has pursued important
reforms and macroeconomic stabilization. The Dominican Republic-Central
American Free Trade Agreement (CAFTA-DR) entered into force in July 2006
spurring increased investment and diversification of exports, with the largest
increases in ethanol and non-traditional agricultural exports. While CAFTA-DR
has helped improve the investment climate, concerns over security, the lack of
skilled workers and poor infrastructure continue to hamper foreign direct
investment. The distribution of income remains highly unequal with the richest
20% of the population accounting for more than 51% of Guatemala's overall
consumption. More than half of the population is below the national poverty
line and 13% of the population lives in extreme poverty. Poverty among
indigenous groups, which make up 38% of the population, averages 73% and extreme
poverty rises to 28%. Nearly one-half of Guatemala's children under age five
are chronically malnourished, one of the highest malnutrition rates in the
world. Given Guatemala's large expatriate community in the United States, it is
the top remittance recipient in Central America, with inflows serving as a
primary source of foreign income equivalent to nearly two-fifths of exports or
one-tenth of GDP. Economic growth fell in 2009 as export demand from US and
other Central American markets dropped and foreign investment slowed amid the
global recession. The economy gradually recovered in 2010-12.
|
Source : CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
QUIMICA INTERNACIONAL SA |
|
TRADE NAME |
CORQUINSA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
843388-7 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Manzana 24 Lote 5 Zona 11 Jardines Minerva II |
|
CITY/PROVINCE/STATE |
Mixco, Guatemala |
|
PHONE NUMBER(S) |
(502)2483.5525 |
|
FAX NUMBER |
(502)2483.5525 |
|
E-MAIL |
|
|
COMMENTS OF IDENTIFICATION.- |
Please note that this information COMPLEMENTS the report
sent on 05/06/2013. At the beginning, this report was ordered as QUIMICA INTERNACIONALE
SA; which is incorrect. Please note that the correct company name is
mentioned in the heading. The supplied address: Manz 24, Lote 5, Jardines, DE
Minerva 2, Zona 11, Mixco, Guatemala is incorrect. Please note that the
correct address is as shown in caption. No website was found. |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
REYES, LUIS FELIPE |
Legal Representative/Manager |
|
No negative information found
|
INITIAL
CAPITAL |
Q.5,000.00 Quetzales |
|
PAYMENT
HISTORY |
EP. E: WITHOUT CREDIT EXPERIENCE |
|
% CASH SALES/PAYMENT METHODa |
50% |
|
% CREDIT SALES/TERMS |
50% (Terms at 30 days) |
|
TERRITORY OF SALES |
100% (Domestic market) |
|
COMMENTS OF
OPERATIONS.- |
|
|
Subject imports from China in cash. |
|
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We interviewed Miss Silvia Castañeda (Management Secretary) who supplied
commercial information on the subject, except for financial figures since she
was not authorized to furnish such data. Therefore, this report was
complemented with data from external sources; of which no financial figures
were obtained. COUNTRY CONTEXT - GUATEMALA: The below information has been
obtained from a highly regarded public source that issues comments on all of
worlds? countries. Taxes: · Guatemalan income tax: 5% on the net
profit-business: · Alphabetic currency code for every country by the
International Organization for Standardization (ISO) 4217:Quetzal (GTQ). Main
economic indicators: · External debt: US$16.17 billion (31 December 2012
est.) · International net reserves: US$6.311 billion (31 December 2012 est.)
· Inflation rate forecasted : 4% (2012 est.) · GDP real growth rate: 3.1%
(2012 est.) · Annual GDP per capita: US$5,200 (2012 est.) GDP - composition
by sector: agriculture: 13% industry: 23.8% services: 63.2% (2012 est.) ·
Labuor force of 5.571 million people divided by: agriculture: 38% industry:
14% services: 48% Unemployment rate: 4.1% (2011 est.) Productivity sectors:
Agriculture - products: sugarcane, corn, bananas, coffee, beans, cardamom;
cattle, sheep, pigs, chickens · Industrial- products:: sugar, textiles and
clothing, furniture, chemicals, petroleum, metals, rubber, tourism Foreign
trade: Exports: US$9.864 billion (2012 est.) country comparison to the world:
95 Exports - commodities: coffee, sugar, petroleum, apparel, bananas, fruits
and vegetables, cardamom Exports - partners: US 37.9%, El Salvador 10.5%,
Honduras 6.8%, Mexico 5.1% Imports: US$15.57 billion (2012 est.) country
comparison to the world: 86 Imports - commodities: fuels, machinery and
transport equipment, construction materials, grain, fertilizers, electricity,
mineral products, chemical products, plastic materials and products Imports -
partners: US 40.4%, Mexico 11.6%, China 8.2%, El Salvador 4.5% Final Brief:
Commercial Country Risk: LOW Political Country Risk: LOW |
|
RATE
OF EXCHANGE |
US$1.00 = Q. 7.84 (as of report date) |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
03/08/1996 |
|
REGISTERED IN |
Mixco |
|
DURATION |
Unlimited |
|
REGISTRATION |
Deed No 199 |
|
LISTED AT STOCK EXCHANGE |
NO |
|
OPERATIONS |
|
|
SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
|
ACTIVITY |
DIVERSE PRODUCTS |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
MAIN ACTIVITY |
Import, trade and distribution of chemicals and colorants for the textile
sector. |
|
N. OF EMPLOYEES |
6 (Approximately) |
|
LOCATION |
|
ADMINISTRATIVE OFFICE, WAREHOUSE: located at captioned address in an
industrial area of the city. |
|
BANKERS /
REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO AGRICOLA MERCANTIL SA |
|
|
|
GUATEMALA |
|
BANK COMENTS |
||||
|
The Consulted Bank did not provide information on its clients per bank
secrecy. |
||||
|
Company with 16 years of experience in the local market.
No having further information, it is advisable to be cautious when dealing
any commercial operations. Request the corresponding guarantees. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
UK Pound |
1 |
Rs.91.58 |
|
Euro |
1 |
Rs.78.08 |
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.