|
Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
FILMTEX SAS |
|
|
|
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Registered Office : |
Cra.73 No. 62D-81 Sur, Bogotá |
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|
|
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Country : |
Colombia |
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|
|
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Financials (as on) : |
2011 |
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|
|
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Year of Establishments: |
1976 |
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|
|
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Legal Form : |
Sociedad Anonima Simplificada |
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|
|
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Line of Business : |
PVC products manufacturer |
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|
|
|
No. of Employees : |
130 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Colombia |
A2 |
A2 |
|
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 grew 5.7% in 2011 and inflation ended 2011 at 3.7%,
continuing almost a decade of strong economic performance. All three major
ratings agencies have upgraded Colombia''s 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 10.8% in 2011 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 is pending implementation in 2012. Columbia
has signed or is negotiating FTAs with a number of other countries, including
Canada, Chile, Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey,
Japan, and Israel. Foreign direct investment - notably in the oil sector -
reached a record $10 billion in 2008 but dropped to $7.2 billion in 2009,
before beginning to recover in 2010, and it appears to have reached a record
high $13 billion in 2011. Colombia is the third largest Latin American exporter
of oil to the US. Inequality, underemployment, and narcotrafficking remain
significant challenges, and Colombia''s infrastructure requires major
improvements to sustain economic expansion. In late 2010, Colombia experienced
its most severe flooding in decades with damages estimated to exceed $6
billion. The rains resumed in 2011 causing further damages to crops and
infrastructure as well as killing hundreds of Colombians and displacing
millions.
|
Source : CIA |
|
POLITICAL
DATA |
ECONOMIC
DATA |
|
Form of Government: Republic
|
Currency: 100.00 COP = 0.0550221 USD |
|
Comments
on data supplied: |
The address in the order is that of the
administrative office. |
||
|
Legal
Name: |
FILMTEX SAS |
||
|
Trade
Name: |
FILMTEX |
||
|
Legal
Address |
Cra.73 No. 62D-81 Sur, Bogotá |
||
|
Operative
Address |
Cra.73 No. 62D-81 Sur, Bogotá |
||
|
Telephone: |
+57 1 644 9844 |
NIT : |
860049313 |
|
Fax: |
+57 1 644 9844 |
Legal Form: |
Sociedad Anonima Simplificada |
|
Email: |
Registered in: |
Colombia |
|
|
Website: |
Date Created: |
1976 |
|
|
Manager: |
PEDRO ANDRES MEJIA ROZO, Legal
Representative |
Date Incorporated: |
NA |
|
Staff: |
130 |
Stock: |
NA |
|
|
|
Value: |
NA |
|
Activity: |
PVC products manufacturer |
||
|
Name of the Bank |
BANCOLOMBIA |
|
Comments |
This information was not verified by the
company. |
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HISTORY |
|
|
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The company was created in 1976 |
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PRINCIPAL ACTIVITY |
|
|
|
Filmtex SA specializes in the processing of
PVC resins in high technology; its products are targeted to industry, graphic
arts, visual communication and engineering. The firm has the option of printing,
sealing, laminating, coating, cutting, and adapt Product to customer requirements. The company is ISO compliant. FILMTEX S.A.S. received the ISO 14000
certificate on September, 2006. |
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Sales are: |
|
|
|
Wholesale |
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Clients: |
|
|
|
Professionals of the industry. |
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Operations area: |
|
|
|
National, International |
|
The company exports to
Venezuela, Chile, Ecuador, Costa Rica, France, and Spain |
|
|
The subject employs 130 employee(s) |
|
|
Comments on staff: |
|
|
|
This information was not verified by the
company. |
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PAYMENTS |
|
|
|
regular |
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LOCATION |
|
|
Headquarters |
|
|
|
Cra.74C No. 62D-81 Sur, Bogotá |
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Branches: |
|
|
|
The company has its administrative offices
in Carrera 19 No. 92-65 Bogotá. |
Manager - Related
Companies
|
Shareholders Parent Company(ies): |
|
|
|
This is a private company. The subject would
be a subsidiary of GRUPO EMPRESARIAL FILTEX SA. |
|
Management: |
|
|
|
GUILLERMO ANDRES OCHOA OLIVARI, Legal
Representative DIEGO ALAIS, Accountant |
COMMERCIAL TRENDS AND FORECAST
As
a private company the subject does not publish any financial statements.
We
have contacted Ana Maria, Office Clerk, who refused to provide us any
financial data on grounds of confidentiality.
However our financial sources could provide us
with the following data.
Those
figures are estimates provided by confidential banking and financial
institutions working with the company.
|
Currency |
DATE |
|
COP |
2011 |
|
Turnover |
66
400 000 |
|
Net
Income |
(1
441 000) |
|
The
cash flow is |
Normal |
|
Currency |
DATE |
|
COP |
2010 |
|
Turnover |
67.038.843.000 |
|
Operating
Income |
14.585.171.000 |
|
Net
Income |
4.171.966.000 |
|
The
cash flow is |
Normal |
|
Comments
on the financial data: Enclosed to this report there
is the original financial report for the company in Colombian Pesos. |
|
Legal
Filings |
|
The
sources consulted record no detrimental legal or labor court information. |
|
Local
credit bureau gave a correct credit rate. The
company is in Good Standing. This means that all local and federal taxes were
paid on due date. |
|
|
Final Opinion |
|
|
|
This
is a medium sized Colombian company that was established in 1976. The
company has an approximate of 130 people. The
company has product lines in Ecuador, Chile, Argentina, Venezuela, Costa
Rica, Guatemala, and United States. The
financial data provided shows that the company has a negative net income and
that the revenue has decreased from 2010 to 2011. Therefore,
we suggest not dealing on a credit line at this moment and to monitor the
evolution of the company. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
UK Pound |
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.71.21 |
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.