MIRA INFORM REPORT

 

 

Report Date :

29.06.2013

 

IDENTIFICATION DETAILS

 

Name :

GIMBEL MEXICANA S.A. DE C.V.

 

 

Registered Office :

Prolongación Molier Nº 46, Col. Ampliación Granada, Deleg. Miguel Hidalgo 11529

 

 

Country :

México

 

 

Date of Incorporation :

26.07.1963

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Subject engaged in purchase, sale, distribution, import, export and trading of every kind of hardware items, agricultural equipment, ball bearings, electric tools, automotive spare parts, sports items, stationary motors, machinery, nuts and bolts, lumber, paint, glassware

 

 

No. of Employees :

232 (Plant: 190; Office: 42)

 

 

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 :

Unknown

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)

 Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MEXICO - ECONOMIC OVERVIEW

 

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5.5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and in July it formed the Pacific Alliance with Peru, Colombia and Chile. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.6% in 2010 with exports - particularly to the United States - leading the way. Growth slowed to 3.9% in 2011 and slightly recovered to 4% in 2012. In November 2012, Mexico's legislature passed a comprehensive labor reform which was signed into law by former President Felipe CALDERON. Mexico's new PRI government, led by President Enrique PENA NIETO, has said it will prioritize structural economic reforms and competitiveness. The new president signed the Pact for Mexico, an agreement that lists 95 priority commitments, along with the leaders of the country's three main political parties: the Institutional Revolutionary Party (PRI), the National Action Party (PAN) and the Party of the Democratic Revolution (PRD).

 

Source : CIA

 

 

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

GIMBEL MEXICANA S.A. DE C.V.

TAXPAYER REGISTRATION

RFC GME820726QC7

MAIN ADDRESS

Prolongación Molier Nº 46, Col. Ampliación Granada, Deleg. Miguel Hidalgo

POSTAL CODE

11529

DEPT/PROV/REGION/STATE

México, D.F.

COUNTRY

MEXICO

TELEPHONE

(5255) 11012300

CORPORATE E-MAIL

contacto@gimbelmexicana.com

WEB

www.gimbelmexicana.com

COMMENTS

 

 
FAX :   (5255) 11012300

 

 

EXECUTIVE SUMMARY

 

Date of foundation

1963

Capital stock

Ps$ 35,150,000.= Pesos

permanent employees

232 (Plant: 190; Office: 42)

Chief Executive

GIMBEL KARLEBACK, STEVEN

Payments policy

Usually to terms/good

Credit (**)

UNDETERMINED RISK.(Insufficient or Non existent information).

Number of times that this company was required: 4

 

 

LEGAL STRUCTURE

LEGAL STATUS

Stock Company of Variable Capital

 

 

DATE OF INCORPORATION

26JUL1963

 

 

PLACE OF REGISTRY

Mexico, Federal District

 

 

NOTARY OFFICE

Notary Public Javier Correa Fi

DURATION

99 years

REGISTRATION

No. 193, Book 3rd, Volume 592, Pages 259

 

 

INITIAL CAPITAL

Ps$ 1,000.= Pesos

 

 

CURRENT PAID-IN CAPITAL

Ps$ 35,150,000.= Pesos

LAST CAPITAL INCREASE

12/2004

CURRENT EXCHANGE RATE (US$)

Ps$12.99 per USD1

 

 

COMMENTS

 

 
Subject Company was established in July 20, 1963 pursuant to Deed No. 58265.
 
There have been several changes in the company throughout its history but the most important were made on July 26, 1982 when the company's legal status changed from Joint-Stock Company (S.A.) to  Joint-Stock Company of Variable Capital (S.A. de  C.V.) 

 

DIRECTORS - EXECUTIVES - SHAREHOLDERS

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

GIMBEL KARLEBACK, STEVEN

CEO / Proxy

YES

 

GIMBEL KARLEBACK, RONALD

Chief Operations Officer

YES

 

GIMBEL ROTHSCHILD, CARLOS

President

YES

 

SAFIR OSI, CLARA

Shareholder

YES

 

 

 

WHO IS WHO?

GIMBEL KARLEBACK, STEVEN

TITLE

CEO / Proxy

NATIONALITY

Mexican

CIVIL STATUS

Married

PROFESSION

Industrial Engineer

 

 

 

 

GIMBEL KARLEBACK, RONALD

TITLE

Chief Operations Officer

NATIONALITY

Mexican

BACKGROUND INFORMATION

 
Proxy

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

COMPANY NAME

COUNTRY

RELATION %

INMOBILIARIA GIMBEL, S.A. DE C.V.

MEXICO

 

Related

INMOBILIARIA GIMEXA, S.A. DE C.V.

MEXICO

 

Related

SERVICIOS GIMBEL, S.A. DE C.V.

MEXICO

 

Related

 

 

BUSINESS

Main activity

 
Subject Company is engaged in the purchase, sale, distribution, import, export and trading of every kind of hardware items, agricultural equipment, ball bearings, electric tools, automotive spare parts, sports items, stationary motors, machinery, nuts and bolts, lumber, paint, glassware, among others.
 
BRANDS:  Gimex, Gim, Metabo, Natco, Fletcher, etc.  

O P E R A T I O N S

Import

Yes

Country

The countries were not specified

Export

Yes

COUNTRY

The countries were not specified

% CASH SALES / METHOD

40%

% Credit SALES / Terms

60% (Terms: 30 and 60 days)

SELLING TerritorY

Domestic market

EMPLOYEES

232 (Plant: 190; Office: 42)

 

 

LOCATION

PREMISES

Own Settled

AREA

4,500 m2 approx.

OTHER PREMISES

 
The Administrative offices and Warehouse operate at the main address.
 
These are four-storey industrial premises in good condition and with an easily accessible location.

Comments

 

 
Business Purpose: Purchase, sale, distribution, trading, import, export of every kind of hardware items, machine tools, spare parts, etc.    
 
Wholesale (60%) and Retail (40%).
 
Subject's sales are aimed at the industry in general.
 
Working Hours: Monday through Friday from 9 am to 6 pm.
 

 

 

FINANCIAL INFORMATION

Interviewee(s)

Different Information Sources

Information provided

 
The information contained in this report was gathered through different information sources.
We had no access to the financial statements since in the company they were reluctant to provide any information.

 

 

FINANCIAL SITUATION

 
UNDETERMINED
The company's Financial Standing is considered to be UNDETERMINED since there is no financial information that allows us to assess its results.

Property of company comments

 

 
Subject's assets include:
- Office furniture and fixtures
- Computer equipment
- 60 vehicle units among trucks and automobiles
 

 

 

 

 

 

INSURANCE

COMPANY

EXPIRATION

GNP SEGUROS, S.A. DE C.V.

Not specif

Insurance Comments

 
Multiple business coverage

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: HERRAMIENTAS TULTITLAN, S.A. DE C.V.

Tel.: (5155) 58881111

Country: MEXICO

Highest credit? : DC 5,000,000.=

 

 

Client since? : 20 years

Terms? : 60 days

Performance? : Prompt

Supplier: HERCORT, S.A. D C.V.

Tel.: (5244) 99106450

Country: MEXICO

Highest credit? : DC 500,000.=

 

 

Client since? : 25 years

Terms? : 30 days

Performance? : Prompt

Supplier: BUJIAS NGK DE MÉXICO, S.A. DE C.V.

Tel.: (5255) 53175872

Country: MEXICO

Highest credit? : DC 400,000.=

 

 

Client since? : 15 years

Terms? : 30 days

Performance? : Prompt

 

 

Comments :

- BANAMEX S.A.: Branch No. 261; Account No. 5669760; Good client. - BBVA BANCOMER, S.A.: Branch No. 1818; Account No. 0443714624; Good client Subject is client of the above mentioned banks which do not provide further information.

 

 

 

GENERAL INFORMATION

REPUTATION

 

NOTHING AGAINST COMPANY

 

Explanation about commercial reputation

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.69

UK Pound

1

Rs.91.14

Euro

1

Rs.77.97

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.