MIRA INFORM REPORT

 

 

Report Date :

08.07.2013

 

IDENTIFICATION DETAILS

 

Name :

HABILIS S.A.

 

 

Registered Office :

Millan 2569, 11800, Montevideo / Montevideo

 

 

Country :

Uruguay

 

 

Financials (as on) :

28.02.2013

 

 

Date of Incorporation :

20.04.2004

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Representation and import of electrical equipment of medium and high voltage

 

 

No. of Employees :

14

 

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)

Uruguay

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Uruguay ECONOMIC OVERVIEW

 

Uruguay has a free market economy characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. Following financial difficulties in the late 1990s and early 2000s, economic growth for Uruguay averaged 8% annually during the period 2004-08. The 2008-09 global financial crisis put a brake on Uruguay's vigorous growth, which decelerated to 2.6% in 2009. Nevertheless, the country managed to avoid a recession and keep positive growth rates, mainly through higher public expenditure and investment, and GDP growth reached 8.9% in 2010 but fell to about 3.5% in 2012, the result of a renewed slowdown in the global economy and in Uruguay's main trade partners and Common Market of the South (Mercosur) counterparts, Argentina and Brazil. Uruguay has sought to expand trade within Mercosur and with non-Mercosur members. Uruguay's total merchandise trade with Mercosur since 2006 has increased by nearly 70% to more than $5 billion while its total trade with the world has almost doubled to roughly $20 billion.

 

Source : CIA

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

HABILIS S.A.

TRADE NAME

IDM URUGUAY

TAXPAYER REGISTRATION

RUT 214963130016

MAIN ADDRESS

Millan 2569

POSTAL CODE

11800

DEPT/PROV/REGION/STATE

Montevideo / Montevideo

COUNTRY

URUGUAY

TELEPHONE

(5982) 2009578

CORPORATE E-MAIL

sebastianmurillo@idmuruguay.com

WEB

www.idmuruguay.com

 

COMMENTS

 

Other email: idmuruguay@idmuruguay.com

 

Your order was forwarded without a phone number to expedite investigation.

 

EXECUTIVE SUMMARY

 

Date of foundation

2006

Capital stock

Ps$1,200,000.= Pesos

Shareholders' equity

19,039,621.00 Pesos (28FEB2013)

Profits (loss)

7,181,744.00 Pesos (28FEB2013)

permanent employees

14 (*)

Chief Executive

MURILLO, SEBASTIAN

Disposition

REPORT PREPARED FROM OUTSIDE SOURCES.

Payments policy

Usually to terms/good

Credit (**)

With no Risk, Reliable, Solvent, Profiatble, Good Financial Situation.

Number of times that this company was required: 2

 

LEGAL STRUCTURE

 

LEGAL STATUS

Joint-Stock Company

 

 

DATE OF INCORPORATION

20APR2004

 

 

PLACE OF REGISTRY

Montevideo

 

 

NOTARY OFFICE

Elías Belfer Szalit

DURATION

100 years.

CURRENT PAID-IN CAPITAL

Ps$1,200,000.= Pesos

 

 

SHAREHOLDERS EQUITY

19,039,621.00 Pesos ()

 

 

CURRENT EXCHANGE RATE (US$)

Ps$20.12 Pesos

 

 

MEMBERSHIP

Chamber of Industries of Uruguay, Partner No. 53469

 

 

COMMENTS

 

 

No name changes or mergers published.

 

The Subject's authorized capital amounts to $ 600,000. = (Pesos)

 

We were able to verify with the Internal Revenue Service of Uruguay, HABILIS SA has its annual Certificate of Good Standing duly in force, issued on 30/05/2013 due on 30/05/2014. Type of Taxpayer: NOCEDE.

 

 

DIRECTORS

- EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

SAPIO COLUS, CLAUDIO MARCELLO

President

 

 

MURILLO, SEBASTIAN

General Manager

100%

 

SAPIO SALERMO, MARTIN

Electrical engineer

 

 

ARBIZA, IARA

Finance manager

 

 

 

 

WHO IS WHO?

 

SAPIO COLUS, CLAUDIO MARCELLO

TITLE

President

NATIONALITY

Uruguayan

ID

IDE 38571671

PROFESSION

University graduate

BACKGROUND INFORMATION

Bachelor of Management and Administration, Universidad ORT Montevideo.

 

 

 

 

MURILLO, SEBASTIAN

TITLE

General Manager

NATIONALITY

Uruguayan

D.O.B.

1976

ID

IDE 27083576

 

 

 

 

SAPIO SALERMO, MARTIN

TITLE

Electrical engineer

 

 

 

 

ARBIZA, IARA

TITLE

Finance manager

NATIONALITY

Uruguayan

ID

IDE 45737183

 

BUSINESS HISTORY

 

DM URUGUAY, founded in 2004, is a company dedicated to the import of products and services for industry in general, generation, transmission and distribution of electricity , and petrochemical industry. Provides solutions in unaffordable products and services in Uruguay, also provides the necessary logistics to quote any specific source product. It represents more than 100 leading foreign companies, and  their field is the representation and import of electrical equipment of medium and high voltage, industrial equipment for refinery and turbine service.                                                                                             

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

 

DIESEL MOTORS CO. LTDA.

URUGUAY

 

Related

 

 

BUSINESS

 

SIC Classification
5 0 - WHOLESALE TRADE-DURABLE GOODS. (Sale of vehicles, tires, furniture, toys, Home furnishings, machinery.)

 

Main activity

Representation and import of electrical equipment of medium and high voltage.

 

Exclusively represents over 100 companies all over Uruguay, such as: WG,"TRANSCANADA TURBINE, WHOLESALE W ELECTRIC, BELLISS, HMT, SISA, NOJA POWER, SICA, ARC MACHINES INC, MP MAVEN POWER, UNIFIN INTERNATIONAL, HYCONTROL, DIESEL MOTORS.

 

Offers from providing instrumentation, pumps and motors, valves, generators, power supplies, or the operation and / or maintenance of the power plant as well as many other products for the electricity sector, oil refining, shipping, among others.

 

OPERATIONS

Import

Yes

Country

Canada, USA, Belgium, Poland, Mexico, Turkey, Brazil

ANNUAL Imports In US$ (CIF)

YEAR

AMOUNT

2013

79,134.49

2012

192,368.02

2011

30,361.67

2010

18,946.82

Export

No

% Credit SALES / Terms

100% Terms: 45 days (Up to US$100,000.=)

% DOMESTIC PURCHASES

90%

% FOREIGN PURCHASES

10%

SELLING TerritorY

100% domestic market

EMPLOYEES

14 (*)

 

LOCATION

PREMISES

Own Settled

AREA

1,100 M2

OTHER PREMISES

The heading address is the Tax  Domicile and  Headquarters of the company. The front door is by the number 2569. Facility can also be accessed by the number 2567. Share facility with DIESEL MOTORS CO  LTDA.

 

Have no other premises.

 

Comments

 

(*) Besides have 15 temporary workers and 10 professionals.

 

Subject's main client is the Uruguayan State / UTE, ANCAP, SBI, armed forces MTOP, among others.

 

The company under investigation is a company certified by Legal Software Uruguay, where it is stated that the company participated in the certification program of legal Sotfware and its software meets the licensing requirements under the Audit report. Issued on 09/11/2010.

 

Sponsored the event ELECRAMA 2012  in India in coordination with the Chamber of Commerce of India, from 18 to January 22, 2012. Bombay Exhibition Centre, Mumbai, India.

 

Certificates obtained:

ISO 9001:2008 Certificate No.: LSQA 1268/01

ISO 9001:2008 Certificate No.: Quality Austria 9188/0

2012 National Quality Guilds - Uruguay

Commitment Award Winner, Bronze INACAL Management 2012

 

It is a company committed to CSR, contributes annually with national campaigns of support to centers for disabled children.

 

 

FINANCIAL INFORMATION

 

Disposition

REPORT PREPARED FROM OUTSIDE SOURCES.

Interviewee(s)

Sebastian Murillo Fuss

Position(s)

General Manager

Information provided

He confirmed, revised and increased business and operational data, and he also provided a copy of the latest balance sheet available as of 28/02/2013 (12 months), in Peso, which we put together with the one of previous period.

 

We found some additional information of interest in In public sources that is included in this report.

 

BALANCE SHEET

Balance sheet date

28FEB2013

28FEB2012

 

 

Type of balance sheet

Annual

Annual

 

 

Period

12 months

12 months

 

 

Currency

Pesos

Pesos

 

 

Exchange rate per US$

19.35

19.51

 

 

A S S E T S

 

 

 

 

Cash/bank

17,820,991.00

8,707,046.00

 

 

Receivables

3,160,852.00

1,137,680.00

 

 

Current Assetsd

20,981,843.00

9,844,726.00

 

 

Fixed

2,935,952.00

2,562,818.00

 

 

Others

28.00

28.00

 

 

Total Assets

23,917,823.00

12,407,572.00

 

 

L I A B I L I T I E S

 

 

 

 

Bank/Suppliers

234,247.00

549,695.00

 

 

Others

4,643,955.00

 

 

 

Current liabilities

4,878,202.00

549,695.00

 

 

Long term

0.00

 

 

 

TOTAL LIABILITIES

4,878,202.00

549,695.00

 

 

S H A R E H O L D E R S'  E Q U I T Y

 

 

 

 

Capital

600,000.00

600,000.00

 

 

Profits (Loss)

7,181,744.00

-526,923.00

 

 

Others

11,257,877.00

11,784,800.00

 

 

Total shareholders equity

19,039,621.00

11,857,877.00

 

 

Total Liab. / Sh. equity

23,917,823.00

12,407,572.00

 

 

Sales

141,623,987.00

26,061,224.00

 

 

Profit (Loss)

7,181,744.00

-526,923.00

 

 

FINANCIAL SITUATION

GOOD

According to the latest Financial Statement presented and / or other factors analyzed, we estimate that their  financial situation is SATISFACTORY, by the following:

Liquidity ratio is higher than or similar to the average in the sector, working capital is positive and allows orderly payments performance, The Equity fully covers current debts and results are positive.

 

Recent reports by local suppliers revealed a good payment behavior.

Property of company comments

 

PROPERTY: It is referred to be the owner of the premises where it operates (heading address).

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

AMOUNT

EXPIRATION

BANCO DE SEGUROS DEL ESTADO

Fire

No specified

No specifi

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

 

TRADE REFERENCES

Supplier: LINCOEX S.A. DESPACHANTE DE ADUANA

Tel.: (598 2) 9170333

Country: URUGUAY

Goods/Services? : Customs services

 

 

Highest credit? : US$ 2,000

 

 

Client since? : 2010

Terms? : 30 days

Performance? : Prompt

Supplier: AG & A S.A.

Tel.: (598 2) 7112472

Country: URUGUAY

Goods/Services? : Technical support in Quality control .

 

 

Highest credit? : DC Undisclosed

 

 

Client since? : 2009

Terms? : 30 days

Performance? : Prompt

Supplier: USINAS TERMOELECTRICAS DEL

Tel.:

Country: URUGUAY

Highest credit? : n/a

 

 

Comments : No phone number found.

 

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

TRANSCANADA TURBINES

CANADA

VERG LARSEN

DENMARK

TRICARICO

URUGUAY

GRUAS SALOMON

URUGUAY

PARTI LUZ

URUGUAY

ARC MACHINES INC.

U.S.A.

LEWIS DEFEO

U.S.A.

 

 

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

 

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 31/05/2013

 

Bank

Debt Rating
(*) See caption

Current Debt

DOMESTIC CURRENCY

FOREIGN CURRENCY

 

 

287,861.59

25,577.67

BANCO BANDES URUGUAY S.A.

2A

7,831.04

5,535.27

Total

295,692.63

31,112.94

Guarantees

 

357,000.00

 

 

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 2                           31/05/2013

 

 

 

Domestic Currency

Foreign Currency

 

 

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

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

TOTAL DEBT

:

295,692.63

31,112.94

 

 

=========================

=========================

 

:

1.00

357,000.00

 

 

Comments :

Category 2A-Debtors with adequate repayment capacity. They may have little difficulties manifest in arrears of less than 30 days on their payments or 60 days in the case of information to report. They may have occasional losses. Category 2B-Debtors' ability to pay with potential problem. These are debtors who can have difficulties. They may have less than 60 days arrears in their payments. Their losses in the last 3 years, if any, are not important. Also may have arrears less than 90 days in the reporting to the institution.

RATING DESCRIPTION ACCORDING TO THE SBS (Caption)

Normal

Good Finantial Situation, Prompt payments, Consistent information. Increasing Trend, Creditworthy.

Potential Problem

Satisfactory Finantial Situation but cash flow can be weak. Irregular payments. Irregular Trend.

Deficient

Fair Finantial Situation, cash problems, profits shortage, delayed and overdue payments.

Doubtful

Heavy Finantial Situation, liquidity shortage, notorious delayed payments, Judicial Collection, Bad Management.

Loss

Bad Finantial Situation, Insufficient funds, declared bankruptcy, debt default.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.34

UK Pound

1

Rs.90.79

Euro

1

Rs.77.81

 

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%)

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.