|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BUSINESS PEOPLE UNLIMITED & CIA S.C.A |
|
|
|
|
Registered Office : |
Calle 109 Numero 15-17 Local 2, Bogota |
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|
|
|
Country : |
Colombia |
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|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
14.02.1995 |
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|
|
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Com. Reg. No.: |
632166 |
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|
|
|
Legal Form : |
Limited Joint-Stock Company |
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|
|
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Line of Business : |
Subject is engaged in the importation and distribution of glassworks,
cutlery, crockery and cooking utensils. |
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|
|
|
No. of Employees : |
20 (approximately) |
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 |
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|
|
|
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 |
BUSINESS PEOPLE UNLIMITED & CIA S.C.A |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
830000844-0 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Calle 109 Numero 15-17 Local 2 |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE NUMBER(S) |
(57-1)214.3621/637.8023 |
|
FAX NUMBER |
(57-1) 612.2817 |
|
E-MAIL |
natalia.jaimes@bpu.com.co |
|
WEB SITE |
www.bpu.com.co |
|
PAYMENT HISTORY |
WITHOUT CREDIT EXPERIENCE |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Limited Joint-Stock Company |
|
INCORPORATION DATE |
14/02/1995 |
|
REGISTERED IN |
Bogota |
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DURATION |
23/06/2054 |
|
REGISTRATION |
Commercial Registration No.632166 |
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COMMENTS ON LEGAL ASPECTS .- |
|
|
The name of the Notary who attested the incorporation of the subject
company was not directly provided by the same. |
|
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
ARISTIZABAL SALAZAR, HERNANDO DE JESUS |
General Manager/Legal Rep. |
|
|
JARAMILLO DE ARISTIZABAL, MAISSIE |
Commercial Manager |
|
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ARISTIZABAL JARAMILLO, MARKOS |
Marketing Manager |
|
|
DIAZ, MARTIN |
Tax Inspector |
|
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JAIMES SOTELO, JENNY NATALIA |
Accountant |
|
No negative information found.
|
PAID-UP CAPITAL |
Ps$700,000,000.00 Pesos |
|
NET WORTH |
Ps$1,420,192,000.00 Pesos (as of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
IMPORTS |
|
|
YEAR |
2013 (January - June) |
|
AMOUNT |
US$ 71,176.40 |
|
YEAR |
2012 |
|
AMOUNT |
US$ 544,493.78 |
|
YEAR |
2011 |
|
AMOUNT |
US$ 429,386.05 |
|
YEAR |
2010 |
|
AMOUNT |
US$ 406,861.84 |
|
YEAR |
2009 |
|
AMOUNT |
US$ 467,632.23 |
|
YEAR |
2008 |
|
AMOUNT |
US$ 284,928.54 |
|
EXPORTS |
|
|
YEAR |
2013 (January - June) |
|
AMOUNT |
US$ 12,828.24 |
|
YEAR |
2012 |
|
AMOUNT |
US$ 5,490.78 |
|
YEAR |
2011 |
|
AMOUNT |
US$ 8,716.40 |
|
% CASH SALES/PAYMENT METHOD |
50% |
|
% CREDIT SALES/TERMS |
50% (Terms at 30-60 days) |
Na
|
FINANCIAL INFORMATION |
|
CONTENT.- |
|
During this investigation, we interviewed Miss Natalia Jaimes
(Accountant) who provided us with commercial information on the subject
except for financial data since she was not authorized to do so. Therefore,
this report has been also elaborated with the information provided by outside
sources. And in accordance with such information, we herein include subject's
General Balance Sheet as of 31/12/2012 (12 months) expressed in Pesos; which
figures read as follows: |
|
GENERAL BALANCE SHEET |
|||
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Balance Date |
31/12/2012 |
|
|
|
Currency |
Peso |
|
|
|
Exchange Rate |
1,774.50 |
|
|
|
.Current Total |
2,548,576,000.00 |
|
|
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.Net Fixed |
1,203,397,000.00 |
|
|
|
.Total Assets |
3,751,973,000.00 |
|
|
|
.Total Current Liabilities |
2,331,781,000.00 |
|
|
|
Total Liabilities |
2,331,781,000.00 |
|
|
|
Total Equity |
1,420,192,000.00 |
|
|
|
Total Liabilities and Equity |
3,751,973,000.00 |
|
|
|
PROFIT AND LOSS ACCOUNT |
|||
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Balance Date |
31/12/2012 |
|
|
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Currency |
Peso |
|
|
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Exchange Rate |
1,774.50 |
|
|
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Net Sales |
4,766,738,000.00 |
|
|
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Profit(loss) |
600,119,000.00 |
|
|
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RATIOS FINANCIAL |
|||
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PERIOD |
2,012.00 |
|
|
|
.NET WORKING CAPITAL |
216,795,000.00 |
|
|
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.CREDIT RATING |
1.09 |
|
|
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.CONTENTS OF THE ACID TEST |
0.00 |
|
|
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.INDEBTEDNESS |
1.61 |
|
|
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.LIABILITIES, CAPITAL |
0.00 |
|
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.TOTAL ASSET TURNOVER |
1.27 |
|
|
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.RETURN ON EQUITY |
0.00 |
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.NET RETURN ON SALES |
0.00 |
|
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FINANCIAL COMMENTS.- |
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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 |
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INSURANCE.- |
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No insurance data was reported. |
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CREDIT FILES |
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Possible local suppliers did not provide information about their
clients as per confidentiality policies. |
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RATE OF EXCHANGE |
US$1.00 = Ps$1892.50, as of report date |
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OPERATIONS |
|
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SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
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ACTIVITY |
DIVERSE PRODUCTS |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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MAIN ACTIVITY |
Subject is engaged in the importation and distribution of glassworks,
cutlery, crockery and cooking utensils. |
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TERRITORY OF SALES |
99% (Local market) |
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% FOREIGN SALES |
1% |
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% FOREIGN PURCHASING |
100% |
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N. OF EMPLOYEES |
20 (approximately) |
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ADMINISTRATIVE OFFICES and WAREHOUSE: Located at the address shown in caption,
in a commercial zone of the city with easy access routes. Rented large
premise kept in good repair. |
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COMMENTS OF OPERATIONS.- |
|
Subject imports from India, USA, Mexico, China, and Sri Lanka.
Likewise, it exports to Ecuador. |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO DAVIVIENDA S |
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COLOMBIA |
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BANK COMENTS |
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Consulted banks did not provide any information on their clients as
per bank secrecy. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.