|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MDLD INTERCHEMICAL INDUSTRIES, INCORPORATED |
|
|
|
|
Registered Office : |
73 Scout Fernandez Street, Barangay Laging Handa 1103, Quezon City |
|
|
|
|
Country : |
Philippines |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.08.1986 |
|
|
|
|
Com. Reg. No.: |
130499 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Importer, wholesaler, and retailer of pharmaceutical, medicinal, food, veterinary, and cosmetic chemicals. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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) |
|
Philippines |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PHILIPPINES - ECONOMIC OVERVIEW
Philippine GDP growth, which cooled from 7.6% in 2010 to
3.9% in 2011, expanded to 6.6% in 2012 - meeting the government''s targeted
6%-7% growth range. The 2012 expansion partly reflected a rebound from
depressed 2011 export and public sector spending levels. The economy has
weathered global economic and financial downturns better than its regional
peers due to minimal exposure to troubled international securities, lower
dependence on exports, relatively resilient domestic consumption, large
remittances from four- to five-million overseas Filipino workers, and a rapidly
expanding business process outsourcing industry. The current account balance
had recorded consecutive surpluses since 2003; international reserves are at
record highs; the banking system is stable; and the stock market was Asia''s
second best-performer in 2012. Efforts to improve tax administration and
expenditure management have helped ease the Philippines'' tight fiscal
situation and reduce high debt levels. The Philippines received several credit
rating upgrades on its sovereign debt in 2012, and has had little difficulty
tapping domestic and international markets to finance its deficits. Achieving a
higher growth path nevertheless remains a pressing challenge. Economic growth
in the Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration but
poverty worsened during her term. Growth has accelerated under the AQUINO
government, but with limited progress thus far in bringing down unemployment,
which hovers around 7%, and improving the quality of jobs. Underemployment is
nearly 20% and more than 40% of the employed are estimated to be working in the
informal sector. The AQUINO administration has been working to boost the
budgets for education, health, cash transfers to the poor, and other social
spending programs, and is relying on the private sector to help fund major
infrastructure projects under its Public-Private Partnership program. Long term
challenges include reforming governance and the judicial system, building
infrastructure, improving regulatory predictability, and the ease of doing
business, attracting higher levels of local and foreign investments. The
Philippine Constitution and the other laws continue to restrict foreign ownership
in important activities/sectors (such as land ownership and public utilities).
Source
: CIA
|
Company Name: |
MDLD
INTERCHEMICAL INDUSTRIES, INCORPORATED |
|
Supplied Name: |
MDLD
INTERCHEMICAL INDUSTRIES, INC |
|
Trading Address: |
73 Scout
Fernandez Street, Barangay Laging Handa 1103, Quezon City, Philippines |
|
Supplied
Address: |
73 SCOUT
FERNANDEZ STREET, QUEZON CITY 1103, PHILIPPINES. |
|
Telephone
Number: |
+63 2 372-3984
TO 89 |
|
Fax Number: |
+63 2 372-3425 TO
27; 372-3925; 413-2366 |
Note:
Subject’s accurate name and address are as above.
|
Credit Opinion: |
Business
connections are permissible. |
|
Company Name: |
MDLD INTERCHEMICAL
INDUSTRIES, INCORPORATED |
|
Registered
Number: |
130499 |
|
Legal Form: |
Corporation |
|
Date
Incorporated: |
1986-8-1 |
|
Authorized
Capital Stock: |
PHP
20,000,000.00 |
|
Subscribed
Capital Stock: |
PHP
15,000,000.00 |
|
Paid-up Capital: |
PHP 15,000,000.00 |
|
Par Value Per
Share: |
PHP 100.00 |
|
Listed at Stock
Exchange: |
No |
|
Staff: |
N/A |
Note:
The ‘TIN NO 000-387-301-000’ you supplied
cannot be confirmed by the subject or other sources.
The staff number is not obtained from the subject
or other sources.
Amounts in Philippine Peso unless otherwise
specified
CORPORATION
Verification with the local registry revealed the following correct
registration details as of (June 18, 2013).
Company Background
|
Regulatory
Agency |
Date Registered |
Registration No. |
Term |
|
Securities and
Exchange Commission |
1986-8-1 |
130499 |
50 years |
Annual Meeting
Date:
|
Type |
Amount |
as of date |
|
Authorized
Capital |
20,000,000.00 |
|
|
Paid Up Capital |
15,000,000.00 |
|
|
Subscribed
Capital |
15,000,000.00 |
|
|
Par Value |
100.00 |
|
Capital structure
per latest available General Information Sheet.
Increase in authorized
capital stock from 1,000,000 to 10,000,000 was approved by the Securities and
Exchange Commission on October 18, 1999; to 20,000,000 on August 24, 2012.
Stockholders (
|
1 |
|
|
Name: |
BALAJADIA,
MAXIMO P. |
|
Amount Subscribed: |
PHP 7,140,000.00 |
|
Amount Paid-up: |
PHP 7,140,000.00 |
|
Nationality: |
Filipino |
|
2 |
|
|
Name: |
BALAJADIA,
ZENAIDA D. |
|
Amount
Subscribed: |
PHP 7,140,000.00 |
|
Amount Paid-up: |
PHP 7,140,000.00 |
|
Nationality: |
Filipino |
|
3 |
|
|
Name: |
BALAJADIA,
DENNIS D. |
|
Amount
Subscribed: |
PHP 240,000.00 |
|
Amount Paid-up: |
PHP 240,000.00 |
|
Nationality: |
Filipino |
|
4 |
|
|
Name: |
BALAJADIA, LLOYD
D. |
|
Amount
Subscribed: |
PHP 240,000.00 |
|
Amount Paid-up: |
PHP 240,000.00 |
|
Nationality: |
Filipino |
|
5 |
|
|
Name: |
BALAJADIA, DICK
D. |
|
Amount
Subscribed: |
PHP 240,000.00 |
|
Amount Paid-up: |
PHP 240,000.00 |
|
Nationality: |
Filipino |
List of stockholders
and their shareholdings per latest available General Information Sheet
Management (
|
1 |
|
|
Name: |
BALAJADIA,
MAXIMO P. |
|
Position: |
Chairman |
|
Address: |
#73 Scout
Fernandez St., Quezon City |
|
2 |
|
|
Name: |
BALAJADIA,
ZENAIDA D. |
|
Position: |
President /
Director |
|
Address: |
#73 Scout
Fernandez St., Quezon City |
|
3 |
|
|
Name: |
DRIZ, LILIA D |
|
Position: |
Treasurer |
|
Address: |
394 Quintina
St., Sta. Mesa, Manila |
|
4 |
|
|
Name: |
BALAJADIA, DENNIS
D. |
|
Position: |
Corporate
Secretary / Director |
|
Address: |
#73 Scout
Fernandez St., Quezon City |
|
5 |
|
|
Name: |
BALAJADIA, LLOYD
D. |
|
Position: |
Director |
|
Address: |
#73 Scout
Fernandez St., Quezon City |
|
6 |
|
|
Name: |
BALAJADIA, DICK
D. |
|
Position: |
Director |
|
Address: |
#73 Scout
Fernandez St., Quezon City |
List of officers
per latest available General Information Sheet
Activities
|
|
Importer, wholesaler,
and retailer of pharmaceutical, medicinal, food, veterinary, and cosmetic
chemicals. |
Premises
|
|
Location:
Located at above address. |
Unit: PHP
|
Balance Sheet |
2011.12.31 |
2010.12.31 |
|
TotalCurrentAssets |
63,219,404.22 |
72,565,329.13 |
|
Cash |
2,531,415.82 |
2,785,801.29 |
|
ShortInvest |
0.00 |
0.00 |
|
Receivable |
34,572,141.62 |
29,423,464.00 |
|
Inventory |
22,300,743.50 |
35,077,811.20 |
|
OtherCurrentAssets |
3,815,103.28 |
5,278,252.64 |
|
LongInvestTotal |
0.00 |
0.00 |
|
LongInvestSecurity |
0.00 |
0.00 |
|
LongInvestEquity |
0.00 |
0.00 |
|
LongInvestOther |
25,000,000.00 |
0.00 |
|
FixedAssetsTotal |
27,566,135.06 |
28,921,155.52 |
|
FixedAssets |
27,566,135.06 |
28,921,155.52 |
|
DepreciationTotal |
0.00 |
0.00 |
|
IntangibleAssets |
0.00 |
0.00 |
|
OtherAssets |
0.00 |
0.00 |
|
TotalAssets |
115,785,539.28 |
101,486,484.65 |
|
TotalCurrentDebt |
99,424,507.24 |
86,103,734.12 |
|
ShortLoan |
0.00 |
0.00 |
|
AccountsPayable |
94,064,862.58 |
79,946,517.74 |
|
OtherCurrentLiability |
5,359,644.66 |
6,157,216.38 |
|
LongLiabilityTotal |
0.00 |
0.00 |
|
LongLeases |
0.00 |
0.00 |
|
LongLoan |
0.00 |
0.00 |
|
LongLoanOther |
0.00 |
0.00 |
|
TotalLiability |
99,424,507.24 |
86,103,734.12 |
|
TotalEquity |
16,361,032.04 |
15,382,750.53 |
|
ShareCapital |
0.00 |
0.00 |
|
CapitalPaid |
10,000,000.00 |
10,000,000.00 |
|
LegalReserve |
0.00 |
0.00 |
|
SurplusReserve |
0.00 |
0.00 |
|
UndistributedProfit |
0.00 |
0.00 |
|
RetainedEarning |
6,361,032.04 |
5,382,750.53 |
|
OtherEquity |
0.00 |
0.00 |
|
TotalLiabilityAndEquity |
115,785,539.28 |
101,486,484.65 |
Unit: PHP
|
|
2011 |
2010 |
|
OperatingRevenue |
0.00 |
0.00 |
|
SalesRevenue |
316,548,441.29 |
293,303,445.13 |
|
InterestRevenue |
71,804.17 |
77,551.28 |
|
OtherRevenue |
0.00 |
0.00 |
|
TotalRevenue |
316,620,245.46 |
293,380,996.41 |
|
SalesCost |
281,896,861.74 |
260,893,415.18 |
|
GrossProfit |
34,651,579.55 |
32,410,029.95 |
|
SalesExpenses |
0.00 |
0.00 |
|
ManagementExpenses |
25,499,362.40 |
23,569,494.57 |
|
FinancialExpenses |
0.00 |
0.00 |
|
TotalExpenses |
307,396,224.14 |
284,462,909.75 |
|
OperatingProfit |
9,224,021.32 |
8,918,086.66 |
|
NonOperatingProfit |
0.00 |
0.00 |
|
ProfitBeforeTax |
9,224,021.32 |
8,918,086.66 |
|
Tax |
2,745,665.14 |
2,652,160.61 |
|
NetProfit |
6,478,356.18 |
6,265,926.05 |
Unit: PHP
|
|
2011 |
2010 |
|
OperatingNetCash |
32,004,490.00 |
4,970,857.00 |
|
InvestmentNetCash |
-27,258,875.00 |
-151,111.00 |
|
FinanceNetCash |
0.00 |
0.00 |
Financial Note:
The latest
financial information is not available from the subject or other sources.
BANKING
Bank of the Philippine Islands
Subject: MDLD INTERCHEMICAL INDUSTRIES INC
FORM 1: Loans and Receivables
This section contains credit exposure of one million and above
transactions reported quarterly by banks and other financial institutions.
For quarter ending as of December 31, 2012
|
NO |
Loan Type |
Loan Status |
Outstanding Amount |
Market Gain/Loss |
Secured Amount |
Unsecured Amount |
|
1. |
Customers’ Liability for this Bank’s Acceptances Outstanding |
Current |
1,385,027.00 |
0.00 |
0.00 |
1,385,027.00 |
|
2. |
Customers’ Liability for this Bank’s Acceptances Outstanding |
Current |
1,314,051.55 |
0.00 |
0.00 |
1,314,051.55 |
|
3. |
Customers’ Liability for this Bank’s Acceptances Outstanding |
Current |
2,556,470.85 |
0.00 |
0.00 |
2,556,470.85 |
|
4. |
Customers’ Liability for this Bank’s Acceptances Outstanding |
Current |
2,201,142.05 |
0.00 |
0.00 |
2,201,142.05 |
|
5. |
Customers’ Liability for this Bank’s Acceptances Outstanding |
Current |
2,574,573.90 |
0.00 |
0.00 |
2,574,573.90 |
|
6. |
Customers’ Liability for this Bank’s Acceptances Outstanding |
Current |
3,767,462.27 |
0.00 |
0.00 |
3,767,462.27 |
Subject: MDLD INTERCHEMICAL INDUSTRIES INC
FORM 4: Letters of Credit/Guarantee
This section contains credit exposure of one million and above
transactions reported quarterly by banks and other financial institutions.
For quarter ending as of December 31, 2012
|
NO |
Face Value |
Amount Unavailed |
LC Type |
Notional Amount in Peso |
|
1. |
3,839,201.25 |
71,738.98 |
LETTERS OF CREDIT – Regular Letters of Credit |
0.00 |
|
2. |
811,979.26 |
811,979.26 |
LETTERS OF CREDIT – Regular Letters of Credit |
0.00 |
|
3. |
1,410,724.30 |
165,792.74 |
LETTERS OF CREDIT – Regular Letters of Credit |
0.00 |
|
4. |
3,711,765.63 |
3,711,765.63 |
LETTERS OF CREDIT – Regular Letters of Credit |
0.00 |
Negative Records
No negative records (court cases, credit cards cancelled and delinquent accounts)
found under the name “MDLD INTERCHEMICAL INDUSTRIES, INCORPORATED” in available database as of June 18, 2013.
Above information
were based on the subject’s 2013 General Information Sheet, the latest
available at the Securities and Exchange Commission and available databases.
Address
verification per interview with Ms. Kathleyan Sulac, HR Supervisor.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.