|
Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FACTORES Y MERCADEO SA |
|
|
|
|
Registered Office : |
Carrera 68 B No. 13 - 35 Zona Industrial |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
13.10.1989 |
|
|
|
|
Com. Reg. No.: |
Registration No 00388165/ File 56790 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
The Subject is involved in import, export and distribution of chemical
products and raw materials for the industries of food, drinks,
pharmaceutical, cosmetics. Flavours and fragrances and other industrial
sectors |
|
|
|
|
No. of Employees : |
35 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 narco trafficking remain significant
challenges, and Colombia's infrastructure requires major improvements to
sustain economic expansion.
|
Source : CIA |
|
IDENTIFICATION |
|
|
COMPANY
NAME |
FACTORES
Y MERCADEO SA |
|
TAX ID
TYPE |
NIT |
|
TAX ID
NUMBER |
800077828 |
|
CURRENT
STATUS |
Active |
|
MAIN
ADDRESS |
Carrera
68 B No. 13 - 35 Zona Industrial |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE
NUMBER(S) |
(57-1)
417.3500 |
|
FAX
NUMBER |
(57-1)
413.6780 |
|
E-MAIL |
|
|
WEB SITE |
|
|
CR-RATING |
CR. LOW
RISK |
|
PAYMENT
HISTORY |
EP.
WITHOUT CREDIT EXPERIENCE |
|
COMMENTS
OF IDENTIFICATION.- |
Other contact e-mails: - servicioalcliente@factoresymercadeo.com - marketing@factoresymercadeo.com.co - compras@factoresymercadeo.com There is a spelling mistake in the supplied
name: FACTORES & MERCADEO SA. Please be advised that the correct spelling
form of this address is as mentioned in the heading. As for the supplied
address: Carrera 68 B No 13.35 Nit 800.077 828.4 Bogota, is incorrect and it
is also mixed with the tax id. (NIT) of the Subject. Please be advised that
the correct address is as mentioned in caption. As for the supplied contact
Phone: 571473500 is incomplete. Please be advised that the complete dialling
form of this Phone number is as shown above. The Check Digit (DV): 4 |
|
LEGAL ASPECTS |
|
|
LEGAL
STATUS |
Stock
Company |
|
INCORPORATION
DATE |
13/10/1989 |
|
REGISTERED
IN |
Bogota |
|
DURATION |
Until
14/12/2024 |
|
REGISTRATION |
Registration
No 00388165/ File 56790 |
|
PAID-UP
CAPITAL |
Ps$3,000,000,000.00
Colombian Pesos |
|
LAST
CAPITAL INCREASE |
Last
known |
|
NET WORTH |
Ps$14,425,241,000.00
Colombian Pesos (as of 31/12/2011) |
|
LISTED AT
STOCK EXCHANGE |
NO |
|
RATE OF
EXCHANGE |
US$1.00 =
Ps$1,833.30 (as of report date) |
|
BACKGROUND (HISTORY).- |
|
|
At the beginning, the Subject was incorporated as FACTORES
Y MERCADEO LIMITADA. Subsequently, its legal status was modified to the Stock
Company (SA), becoming : FACTORES Y MERCADEO SA (current form). |
|
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
CASTAÑO
RODRIGUEZ, ALDEMAR |
Director/Legal
Representative |
|
|
RODRIGUEZ
VEGA, MARIA ISABEL |
Director/Alt.
Leg. Rep. |
|
|
CASTAÑO
RODRIGUEZ, EMELYN ANDREA |
Director |
|
|
LIZARAZO
GOMEZ, PEDRO DE JESUS |
Director |
|
|
JIMENEZ
CASTAÑO, LEONARDO ALFONSO |
Director |
|
|
ZUÑIGA
GARCIA, JAIME AUGUSTO |
Alternate
Director |
|
|
SUAREZ
ALARCON, LUIS GONZALO |
Alternate
Director |
|
|
CASTAÑO
MEJIA, FABIAN ENRIQUE |
Alternate
Director |
|
|
SANCHEZ,
ADRIANA PATRICIA |
Alternate
Legal Rep. |
|
|
ROVIRA
MATEUS, ARMANDO |
Tax
Inspector |
|
|
GONZALEZ
TIBADUIZA, CARLOS ALBERTO |
Accountant |
|
No negative information found.
|
PAID-UP
CAPITAL |
Ps$3,000,000,000.00
Colombian Pesos |
|
LAST
CAPITAL INCREASE |
Last
known |
|
IMPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$
10,019,814.18 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$
8,850,138.04 |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$
9,229,890.27 |
|
|
|
|
YEAR |
2009 |
|
AMOUNT |
US$
8,852,442.81 |
|
EXPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$
181,128.80 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$
92,762.30 |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$
69,924.90 |
|
|
|
|
YEAR |
2009 |
|
AMOUNT |
US$
127,195.40 |
|
FINANCIAL INFORMATION |
|
CONTENT.- |
|
All the data comprised herein has been gathered from outside
sources of consultation, in view of when contacting the Subject, head
executives flatly denied to furnish information on the grounds of strict
confidence. They also seemed to be unwilling to collaborate with us Our
investigation through the outside sources showed no updated financial data
about the subject. From external sources, e have its General Balance Sheet
ended as of 31/12/2011 (12 months), latest available, expressed in Colombian
Pesos, as follows: |
|
GENERAL BALANCE SHEET |
|||
|
Balance
Date |
31/12/2011 |
|
|
|
Currency |
Colombian
Peso |
|
|
|
Exchange
Rate |
1,941.50 |
|
|
|
.Current
Total |
16,383,728,000.00 |
|
|
|
.Net
Fixed |
3,700,871,000.00 |
|
|
|
.Total
Assets |
20,084,599,000.00 |
|
|
|
.Total
Current Liabilities |
5,659,358,000.00 |
|
|
|
Total
Liabilities |
5,659,358,000.00 |
|
|
|
Total
Equity |
14,425,241,000.00 |
|
|
|
Total
Liabilities and Equity |
20,084,599,000.00 |
|
|
|
PROFIT AND LOSS ACCOUNT |
|||
|
Balance
Date |
31/12/2011 |
|
|
|
Currency |
Colombian
Peso |
|
|
|
Exchange
Rate |
1,941.50 |
|
|
|
Net Sales |
31,485,835,000.00 |
|
|
|
Profit(loss) |
1,935,901,000.00 |
|
|
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,011.00 |
|
|
|
.NET
WORKING CAPITAL |
10,724,370,000.00 |
|
|
|
.CREDIT
RATING |
2.89 |
|
|
|
.CONTENTS
OF THE ACID TEST |
0.00 |
|
|
|
.INDEBTEDNESS |
3.55 |
|
|
|
.LIABILITIES,
CAPITAL |
0.00 |
|
|
|
.TOTAL
ASSET TURNOVER |
1.57 |
|
|
|
.RETURN
ON EQUITY |
0.00 |
|
|
|
.NET
RETURN ON SALES |
0.00 |
|
|
|
FINANCIAL
COMMENTS.- |
|||
|
The Subject is a trading company incorporated in 1989,
which operations seem to be conducted normally. 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 |
|||
|
INSURANCE.- |
|||
|
No
insurance carriers reported. |
|||
|
CREDIT
FILES |
|||
|
The local
supplier below did not provide references on clients per confidential policy.
The Subject lack of credit experience in local trading circles, since most of
its purchases are paid in cash and or come from abroad. |
|||
|
RATE OF
EXCHANGE |
US$1.00 =
Ps$1,833.30 (as of report date) |
|
OPERATIONS |
|
|
SECTOR |
3.-TRADE
( WHOLESALE AND RETAIL) |
|
ACTIVITY |
DIVERSE
INPUTS FOR THE INDUSTRY |
|
ISIC
CATEGORY |
G-WHOLESALE
AND/OR RETAIL SALE |
|
MAIN
ACTIVITY |
The
Subject is involved in import, export and distribution of chemical products
and raw materials for the industries of food, drinks, pharmaceutical,
cosmetics. Flavours and fragrances and other industrial sectors. |
|
% CASH
SALES/PAYMENT METHOD |
60% |
|
% CREDIT
SALES/TERMS |
40%
(terms at 15, 30 days) |
|
TERRITORY
OF SALES |
in
national and foreign market |
|
% LOCAL
PURCHASING |
5% |
|
% FOREIGN
PURCHASING |
95% |
|
N. OF
EMPLOYEES |
35 |
|
LOCATION |
|
ADMINISTRATIVE
OFFICES: Located at the above listed address in a commercial zone of easy
access. Premises are kept in good repair. No branches reported. |
|
COMMENTS
OF OPERATIONS.- |
|
The
Subject imports from Ecuador, Italy, USA, Germany, Germany, Canada,
Argentina, India, Mexico and China. Also, it exports to Panama, Honduras,
Ecuador, Costa Rica, Peru and Mexico. |
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
AGENCIA
DE ADUANAS MOR ADUANAS LTDA NIVEL 1 |
|
|
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
ENZYBEL
INTL SA |
|
|
BELGIUM |
|
LIANYUNGANG
TAIDA FINE CHEM CO LTD |
|
|
CHINA |
|
TTCA CO
LTD |
|
|
CHINA |
|
SINOCHEN NINGBO LTD |
|
|
CHINA |
|
DOW
EUROPE GMBH |
|
|
SWITZERLAND |
|
FOODCHEM
ITERNATIONAL CO |
|
|
CHINA |
|
AB -
ENZIMAS BRASIL COMERCIAL LTDA |
|
|
BRAZIL |
|
PREMCEM
GUMS PRIVATE LTD |
|
|
INDIA |
|
LOUIS
DREYFUS CITRUS TRADING LTDA |
|
|
PORTUGAL |
|
SONNEBORN
INC |
|
|
U.S.A. |
|
BAOLINGBAO
BIOLOGY CO.,LTD |
|
|
CHINA |
|
BANKERS / REFERENCE |
||||
|
Bank Name |
Account
Number |
Account
Officer |
Telephone |
Country |
|
BANCO DE
BOGOTA SA |
|
|
|
COLOMBIA |
|
CITIBANK
COLOMBIA SA |
|
|
|
COLOMBIA |
|
BANK
COMENTS |
||||
|
The above
banks consulted did not provide references by preserving confidentiality of
bank-client information. |
||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.99 |
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.