|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORICA CHEMICALS COLOMBIA SAS |
|
|
|
|
Registered Office : |
Calle 106 A No.49 – 33, Bogota |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.06.2007 |
|
|
|
|
Com. Reg. No.: |
No.01142712, Book 9, Mercantile Certificate 1718475 |
|
|
|
|
Legal Form : |
Simplified Stock Company |
|
|
|
|
Line of Business : |
importer and trader of chemical products. |
|
|
|
|
No. of Employees : |
15 |
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) |
|
Colombia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COLOMBIA ECONOMIC OVERVIEW
Colombia's consistently sound
economic policies and aggressive promotion of free trade agreements in recent
years have bolstered its ability to face external shocks. Real GDP has grown
more than 4% per year for the past three years, continuing almost a decade of
strong economic performance. All three major ratings agencies have upgraded
Colombia's government debt to investment grade. Nevertheless, Colombia depends
heavily on oil exports, making it vulnerable to a drop in oil prices. Economic
development is stymied by inadequate infrastructure, weakened further by recent
flooding. Moreover, the unemployment rate of 10.3% in 2012 is still one of
Latin America's highest. The SANTOS Administration''s foreign policy has
focused on bolstering Colombia''s commercial ties and boosting investment at
home. The US-Colombia Free Trade Agreement (FTA) was ratified by the US
Congress in October 2011 and implemented in 2012. Colombia has signed or is
negotiating FTAs with a number of other countries, including Canada, Chile,
Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, China,
Costa Rica, Panama, and Israel. Foreign direct investment - notably in the oil
and gas sectors - reached a record $10 billion in 2008 but dropped to $7.2
billion in 2009, before beginning to recover in 2010, and reached a record high
of nearly $16 billion in 2012. Colombia is the third largest Latin American
exporter of oil to the United States, and the United States'' largest source of
imported coal. Inequality, underemployment, and narcotrafficking remain
significant challenges, and Colombia''s infrastructure requires major
improvements to sustain economic expansion.
|
Source : CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
ORICA CHEMICALS COLOMBIA SAS |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
900161367-2 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Calle 106 A No.49 - 33 |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE NUMBER(S) |
(57-1)646.4700 |
|
FAX NUMBER |
(57-1)646.4700 |
|
E-MAIL |
|
|
WEB SITE |
|
|
COMMENTS OF IDENTIFICATION.- |
The present report was ordered with address: Calle 106 A 49-33 Barrio
Pasadena Bogota, Colombia. Please be advised that the complete form of this
address is as shown in the heading. |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
CHARLES BETTS, RICHARD |
Director |
|
|
HILL PLANELLA, ROBERTO |
Director |
|
|
ALBORNOZ SALAS, CARLOS DANIEL |
General Manager |
|
|
LAVERDE, MARIA LIGIA LATORRE
DE |
Trade Manager |
|
|
FAJARDO PATIÑO, RAFAEL |
Development Manager |
|
|
MARTIN RODRIGUEZ, MARITZA DEL PILAR |
Administration and Finances Manager |
|
|
ORTIZ ROZO, NYDIA ESPERANZA |
Accountant |
|
|
CHAVEZ CAMACHO, ENRIQUE |
Statutory Auditor |
|
|
WHO IS WHO? |
||
|
LAVERDE, MARIA LIGIA LATORRE
DE |
||
|
Colombian, Married,. |
||
No negative information found
|
ORICA INVESTMENT PTY LTD. |
Majority Shareholder |
94.9% |
|
|
ORICA NOMINEES PTY. LTD. |
Shareholder |
1.28% |
|
|
ORICA IC/ASSETS PTY. LTD. |
Shareholder |
1.28% |
|
|
ORICA EXPLOSIVE HOLDING PTY. LTD |
Shareholder |
1.27% |
|
|
PENLON PTY. LTD |
Shareholder |
1.27% |
|
|
INITIAL
CAPITAL |
Ps$80,000,000.00 Colombian Pesos |
||
|
PAID-UP CAPITAL |
Ps$80,000,000.00 Colombian Pesos |
||
|
LAST CAPITAL INCREASE |
Without increase (latest known) |
||
|
PAYMENT
HISTORY |
EP. A: PAYMENTS USUALLY PROMPT |
|
|
% CASH SALES/PAYMENT METHOD |
10% |
|
|
% CREDIT SALES/TERMS |
90% (Invoices at 30, 45 days) |
|
|
TERRITORY OF SALES |
100% (domestic market) |
|
|
% FOREIGN PURCHASING |
100% |
|
|
IMPORTS |
||
|
YEAR |
2012 |
|
|
AMOUNT |
US$ 2,454,978.00 |
|
|
COUNTRIES |
China, USA, Malaysia, Spain,
Japan, Hong Kong, Hollandm UK, Brazil, Taiwan |
|
|
|
||
|
YEAR |
2011 |
|
|
AMOUNT |
US$ 5,590,479.03 |
|
|
COUNTRIES |
China, USA, Holland, Malaysia, Chile, Brazil, UK, Hong Kong, Japan,
Spain |
|
|
|
||
|
YEAR |
2010 |
|
|
AMOUNT |
US$ 3,903,800.79 |
|
|
COUNTRIES |
China, Brazil, USA, Holland, USA, Holland, UK, Malaysia, Japan, Hong
Kong, Chile, France |
|
|
|
||
|
YEAR |
2009 |
|
|
AMOUNT |
US$ 2,973,824.04 |
|
|
COUNTRIES |
China, USA, Brazil, UK, Holland, Malasiya, Chile, France, Japan, India |
|
|
EXPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 26,850.65 |
|
COUNTRIES |
Ecuador |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 1,051,498.93 |
|
COUNTRIES |
Ecuador, Panama, Venezuela |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 1,409,475.11 |
|
COUNTRIES |
Ecuador, Venezuela, Panama, Peru |
|
|
|
|
YEAR |
2009 |
|
AMOUNT |
US$ 404,932.34 |
|
COUNTRIES |
Ecuador, Panama, Costa Rica |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
INTERNATIONAL |
|
ACCOUNT OPENED |
2008 |
|
CREDIT FACILITIES |
No current operations limit |
|
DEADLINES |
Terms at 60 days |
|
PRODUCTS SOLD |
Chemical products |
|
RATING |
PROMPT |
|
|
|
|
CREDIT FILES |
|
|
The subject is not a credit applicant in local trading circles, since
all its purchases come from foreign suppliers |
|
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
ORICA CHEMICALS CHILE SA |
|
(56-2) 2394.8100 |
CHILE |
|
JOHNSON MATTHEY INC. |
|
|
U.S.A. |
|
INEOS SILICAS AMERICAS LLC |
|
|
U.S.A. |
|
ARCH CHEMICALS INC. |
|
|
U.S.A. |
|
DSM NEORESINS INC |
|
|
U.S.A. |
|
RELATED COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
ACTIVE CHEMICALS CHILE SA |
96658510-2 |
CHILE |
|
ASA ORGANIZACION INDUSTRIAL SA DE CV |
AOI890602G73 |
MEXICO |
|
BRASEX PARTICIPACOES LTDA |
|
BRAZIL |
|
EXPLOSIVOS DE MEXICO SA DE CV |
|
MEXICO |
|
EXPLOSIVOS MEXICANOS SA DE
CV |
EME800707UN8 |
MEXICO |
|
NITROAMONIA DE MEXICO SA DE
CV |
NME901011CH3 |
MEXICO |
|
ORICA ARGENTINA SAIC |
30-68624174-9 |
ARGENTINA |
|
ORICA BOLIVIA SA |
1020309020 |
BOLIVIA |
|
ORICA BRASIL LTDA |
|
BRAZIL |
|
ORICA BRASIL PRODUTOS QUIMICOS LTDA |
|
BRAZIL |
|
ORICA CARIBE SA |
|
PANAMA |
|
ORICA CENTROAMERICA SA |
3-101-187389 |
COSTA RICA |
|
ORICA CHEMICALS ARGENTINA SA |
30-71028284-2 |
ARGENTINA |
|
ORICA CHEMICALS CHILE SA |
96959480-3 |
CHILE |
|
ORICA CHEMICALS PERU SAC |
20291398902 |
PERU |
|
ORICA CHILE DISTRIBUTION SA |
|
CHILE |
|
ORICA CHILE SA |
95467000-7 |
CHILE |
|
ORICA COLOMBIA SA |
830033462 |
COLOMBIA |
|
ORICA DOMINICANA SA |
101834854 |
DOMINICAN REPUBLIC |
|
ORICA MINING SERVICES PERU SA |
20131016639 |
PERU |
|
ORICA NITRATOS PERU SA |
20522339254 |
PERU |
|
ORICA PANAMA SA |
1222500-1-586684 |
PANAMA |
|
ORICA VENEZUELA CA |
J-30637396-9 |
VENEZUELA |
|
ORICORP COMERCIAL SA DE CV |
|
MEXICO |
|
ORICORP MEXICO SA DE CV |
|
MEXICO |
|
TEC HARSEIM DO BRAZIL LTDA |
|
BRAZIL |
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
The information comprised in this report has been totally obtained
from outside sources due to main executives declined to collaborate with us
on grounds of confidentiality. It is worthy to mention that the inquiring
name was disclosed. Through external sources, we obtained the subject's
Balance Sheets as of 31/12/2011 and 31/12/2010 (12 months, each one),
expressed in Colombian Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2011 |
31/12/2010 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,938.00 |
1,930.00 |
|
|
.Current Total |
10,329,637,000.00 |
8,004,669,000.00 |
29.05 |
|
.Net Fixed |
66,813,000.00 |
52,081,000.00 |
28.29 |
|
.Total Assets |
10,396,450,000.00 |
8,056,750,000.00 |
29.04 |
|
.Total Current Liabilities |
8,458,540,000.00 |
6,224,275,000.00 |
35.90 |
|
Total Liabilities |
8,458,540,000.00 |
6,224,275,000.00 |
35.90 |
|
Total Equity |
1,937,910,000.00 |
1,832,475,000.00 |
5.75 |
|
Total Liabilities and Equity |
10,396,450,000.00 |
8,056,750,000.00 |
29.04 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2011 |
31/12/2010 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,938.00 |
1,930.00 |
|
|
Net Sales |
21,266,742,000.00 |
17,247,385,000.00 |
23.30 |
|
Profit(loss) |
105,435,000.00 |
822,798,000.00 |
-87.19 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,011.00 |
2,010.00 |
0.00 |
|
.NET WORKING CAPITAL |
1,871,097,000.00 |
1,780,394,000.00 |
0.05 |
|
.CREDIT RATING |
1.22 |
1.29 |
-0.05 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
1.23 |
1.29 |
-0.05 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
2.05 |
2.14 |
-0.04 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL
COMMENTS.- |
|||
|
ORICA CHEMICALS COLOMBIA SAS is a commercial firm operating since
2007, whose latest available financial figures display a normal trendline in
its operations. COUNTRY CONTEXT - COLOMBIA: The below Country comments were
obtained from a highly regarded public source that issues economic comments
on all of World` s countries. Taxes: · Colombian income tax: 38.5% on the net
profit-business:. · Tax agreements with the Andean Community and Spain which
allow residents in this countries to have a special tax treatment. ·
Alphabetic currency code for every country, established by the International
Organization for Standardization (ISO) 4217: Colombian Peso (COP) Main
economic indicators: · External debt: US $73.41 billion (31 December 2012
est.) · International reserves: US$34.74 billion (31 December 2012 est.) ·
Inflation rate forecasted: 3.2% (2012 est.) · GDP growth rate: 4.3% (2012
est.) · Annual GDP per capita: US$10,700 (2012 est.) · GDP - composition by
sector: agriculture: 6.8% industry: 38.1% services: 55.1% (2012 est.) ·
Labour force of 23.08 million people divided by: agriculture: 18% industry:
13% services: 68% · Unemployment rate: 10.3% (2012 est.) Productive sectors:
Agriculture - products: coffee, cut flowers, bananas, rice, tobacco, corn,
sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products ·
Industrial- products: textiles, food processing, oil, clothing and footwear,
beverages, chemicals, cement; gold, coal, emeralds Foreign trade: Exports:
US$59.96 billion (2012 est.) country comparison to the world: 55 Exports -
commodities: petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas,
apparel Exports - partners: US 42%, Netherlands 4.7%, China 4.2% (2011)
Imports: US$55.49 billion (2012 est.) country comparison to the world: 54
Imports - commodities: industrial equipment, transportation equipment,
consumer goods, chemicals, paper products, fuels, electricity Imports -
partners: US 29.2%, China 11.9%, Mexico 11.5%, Brazil 5.3% (2011) Final
brief: Commercial Country Risk: MEDIUM Political Country Risk: LOW |
|||
|
RATE OF
EXCHANGE |
US$1.00 = Ps$1,877.60 (as of report date) |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Simplified Stock Company |
|
INCORPORATION DATE |
26/06/2007 |
|
REGISTERED IN |
Bogota |
|
DURATION |
Unlimited |
|
REGISTRATION |
No.01142712, Book 9, Mercantile Certificate 1718475 |
|
NET WORTH |
Ps$1,937,910,000.00 Pesos (as of 31/12/2011) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
BACKGROUND (HISTORY).- |
|
|
It was originally established as EVOLUTIA CHEMICALS SA. Later, it
changed its company name to: ORICA CHEMICALS SA, in 2008. This changed was
caused by the acquisition of ORICA LTDA., on 17/12/2007. The subject firm
acquired the inventory and part of fixed assets from the firm ICO COLOMBIA
SA, which is in process of liquidation. By early 2010, subject took present
legal status: ORICA CHEMICALS COLOMBIA SAS. |
|
|
COMMENTS ON LEGAL ASPECTS .- |
|
|
Directly form subject, it was not possible to obtain the name of the
notary who attested the articles of incorporation. On 26/06/2007, the subject
was registered in the Commercial Register under No.01142712, Book 9. On
05/07/2007, it was registered in the Superintendence of Companies of
Colombia, under Commercial Register No.01718475, File No.66337. On
05/07/2007, it become member of the Chamber of Commerce of Bogota. Since
03/09/2007, it is registered in the Bidders Chamber of Commerce under Bidders
Register No.41081. All companies interested in doing business with state
entities must be registered in the Bidder's Registry. The Check Digit (DV) of
the subject is No.2 The check digit (DV) is a digit added to the Tax ID
number. It is a code number to be used in errors detection and its possible
corrections and is provided by the Superintendence of Companies. |
|
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
CHEMICAL PRODUCTS |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
ISIC CLASS |
5149-Wholesale of Chemical Substances, Textile Fibers, Manure. |
|
MAIN ACTIVITY |
The subject firm is engaged in import and trading of chemical
products. |
|
N. OF EMPLOYEES |
15 |
|
LOCATION |
||||
|
OFFICES: Located at the above address. Single-story premises rented on
grounds of 350 sq.m, situated in a business zone of the city of easy access.
WAREHOUSE: Carrera 48 No.61 Sur 115, Bodega 115, Urb. Industrias Vegas de Sabaneta, Sabaneta-Antioquia. Rented
premises in an industrial zone of the city. |
||||
|
COMMENTS OF
OPERATIONS.- |
||||
|
The subject started operations in September 2007. It deals with 60
active clients. Sales are conducted 100% directly. |
||||
|
BANKERS / REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
HELM BANK |
|
|
|
COLOMBIA |
|
HSBC COLOMBIA SA |
|
|
|
COLOMBIA |
|
BANCOLOMBIA SA |
|
|
|
COLOMBIA |
|
BANCO DE CREDITO DE COLOMBIA SA |
|
|
|
COLOMBIA |
|
BANK COMENTS |
||||
|
The above banks consulted do not provide references by preserving confidentiality
of bank-client information. |
||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.71 |
|
UK Pound |
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
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.