|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALLIANZ GROUP INTERNATIONAL LTDA |
|
|
|
|
Registered Office : |
Carrera 32A No.10-40 Bogota |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.08.2002 |
|
|
|
|
Com. Reg. No.: |
01212507 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
The subject is engaged to the importation, commercialization and
distribution of raw material for the pharmaceutical, cosmetic industry and
veterinary industry. |
|
|
|
|
No. of Employees : |
14 (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 |
|
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 |
ALLIANZ GROUP INTERNATIONAL LTDA |
|
TRADE NAME |
ALLIANZA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
830108573-5 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Carrera 32A No.10-40 |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE NUMBER (S) |
(57-1) 418.0499 |
|
FAX NUMBER |
(57-1) 547.3988 / 415.2174 |
|
E-MAIL |
jgarzon@allianzgroupil.com |
|
WEB SITE |
www.allianzgroupil.com |
|
CR-RATING |
CR. B: LOW RISK |
|
COMMENTS OF IDENTIFICATION.- |
Another e-mail address: vbonilla@allianzgroupil.com The report was
ordered as: ALLIANZ GROUP INTL LTDA. Please be advised that the complete form
of company name is as shown in caption. Also, this report was requested with
address: Trans 93 No.53-32 (Bod 50), Parque Empresarial El Dorado, Bogota.
Please be noticed that it belongs to the subject's former address; the
current one is as mentioned above. |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
GARZON HERRERA, JOHN ALEXANDER |
General Manager/Legal Rep. |
|
|
MONROY AREVALO, EDGAR |
Finance Manager/Accountant |
|
|
BONILLA ORTIZ, VIVIANA MARIA |
Substitute Legal Representative |
|
|
BARRIGA ANGEL, JAIRO ENRIQUE |
Tax Inspector |
|
|
CARDENAS CARDENAS, GLORIA |
Substitute Tax Inspector |
|
|
TELLEZ PUENTES, ANGELA ROCIO |
Logistics Chief |
|
No negative information found
|
PAID-UP CAPITAL |
Ps$650,000,000.00 Colombian Pesos |
|
LAST CAPITAL INCREASE |
Last known |
PAYMENT INFORMATION
|
PAYMENT HISTORY |
EP. E: WITHOUT CREDIT EXPERIENCE |
|
% CASH SALES/PAYMENT METHOD |
50% |
|
% CREDIT SALES/TERMS |
50% (Invoices at 30 days) |
|
TERRITORY OF SALES |
95% (Domestic market) |
|
% FOREIGN SALES |
5% |
|
% LOCAL PURCHASING |
10% |
|
% FOREIGN PURCHASING |
90% |
|
COMMENTS OF
OPERATIONS |
|
The subject imports from India, China, Italy, Romania, Germany,
Denmark, Switzerland, USA, Brazil. It exports to Brazil, India, Venezuela,
Chile, Nicaragua, Bolivia, China and Costa Rica. |
|
IMPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 2,782,936.45 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 1,980,590.60 |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 2,331,639.47 |
|
|
|
|
YEAR |
2009 |
|
AMOUNT |
US$ 1,911,344.03 |
|
EXPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 552,722.00 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 18,500.00 |
|
|
|
|
YEAR |
2009 |
|
AMOUNT |
US$ 211,849.60 |
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
SCHUTZ Y CO GMBH Y CO |
|
|
GERMANY |
|
IND SWIFT LABORATORIES LTD |
|
|
INDIA |
|
GRANULES INDIA LTD |
|
|
INDIA |
|
A SANDER Y CO GMBH |
|
|
GERMANY |
|
SIMS TRADING S R L |
|
|
ITALY |
|
UNIMARK REMEDIES LTD |
|
|
INDIA |
|
WANBURY LTDA |
|
|
INDIA |
N/a
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We interviewed Mr. Edgar Monroy (Finance Manager/Accountant), who
provided general information about the subject, except the financial figures
on grounds of confidentiality. Through outside sources, we obtained the
subject's Balance Sheet as of 31/12/2012 and 31/12/2011 (12 months, each),
expressed in Colombian Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
4,194,810,000.00 |
3,594,360,000.00 |
16.71 |
|
.Net Fixed |
5,933,792,000.00 |
5,910,252,000.00 |
0.40 |
|
.Total Assets |
10,128,602,000.00 |
9,504,612,000.00 |
6.57 |
|
.Total Current Liabilities |
2,875,588,000.00 |
2,344,104,000.00 |
22.67 |
|
.Long Term Accounts |
1,882,349,000.00 |
1,838,000,000.00 |
2.41 |
|
Total Liabilities |
4,757,937,000.00 |
4,182,104,000.00 |
13.77 |
|
Total Equity |
5,370,665,000.00 |
5,322,508,000.00 |
0.90 |
|
Total Liabilities and Equity |
10,128,602,000.00 |
9,504,612,000.00 |
6.57 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
9,429,208,000.00 |
7,902,467,000.00 |
19.32 |
|
Profit(loss) |
208,156,000.00 |
118,435,000.00 |
75.76 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
1,319,222,000.00 |
1,250,256,000.00 |
0.06 |
|
.CREDIT RATING |
1.46 |
1.53 |
-0.05 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
2.13 |
2.27 |
-0.06 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
0.93 |
0.83 |
0.12 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL
COMMENTS.- |
|||
|
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$1,892.6 as of report date |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Limited Liability Company |
|
INCORPORATION DATE |
17/08/2002 |
|
REGISTERED IN |
Bogota |
|
DURATION |
Until 17/08/2022 |
|
REGISTRATION |
Certificate No.01212507 |
|
NET WORTH |
Ps$5,370,665,000.00 Colombian Pesos (as of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
COMMENTS ON LEGAL ASPECTS .- |
|
|
On 17/08/2002, the subject was registered at the Superintendency of
Companies of Bogota, under Certificate No.01212507. File No.57759. On
17/08/2012, the subject was affiliated to the Bogota Chamber of Commerce,
under Mercantile Certificate No.1212507. Since 21/05/2013, the subject is
subscribed in the Bogota Proponent Chamber of Commerce, under Proponent
Registry No.42805. The firms that sign contracts with state entities are
registered in this Chamber. |
|
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
RAW MATERIAL |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
ISIC CLASS |
5110-Wholesale - Retail of Diverse Products (except vehicles) |
|
MAIN ACTIVITY |
The subject is engaged to the importation, commercialization and
distribution of raw material for the pharmaceutical, cosmetic industry and
veterinary industry. |
|
N. OF EMPLOYEES |
14 (approximately) |
|
LOCATION |
|
TAX DOMICILE, ADMINISTRATIVE OFFICES, COMMERCIAL OFFICES and
WAREHOUSES: Located at captioned address, in a commercial zone of the city.
Rented premises. Former address: Transversal 93 No.53-32, Bodega 50, Parque
Industrial El Dorado, Bogota, Colombia. |
|
COMMENTS OF
OPERATIONS.- |
|
Sales are conducted directly and through distributors. Main clients: -
FARMACER SA - SIEGFRIED - EUROPACK FARMA - ZAMBON - GENFAR - GARMISCH
PHARMACEUTICAL - GLOBAL MARKETING - WASSER CHEMICAL - TECNOQUIMICAS - HUMA
PHARMACEUTICAL - BUSSIE - NOVARTIS – PROCAPS. It is worthy to mention that
the subject does not register exportations in 2010. |
|
BANKERS /
REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCOLOMBIA SA |
|
|
|
COLOMBIA |
|
BANCO DE BOGOTA SA |
|
|
|
COLOMBIA |
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BANK COMENTS |
||||
|
The above banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
||||
|
COMMENTS: A 10-year-old commercial company, which experience and good
prestige make us to estimate a normal development on its operations. Besides,
it registers a good asset backing, working capital and a proper liquidity.
Hence, the subject is considered suitable for a credit of GBP.250,000.00
Pounds. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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.