MIRA INFORM REPORT
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Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SILILABEL S.A. |
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Registered Office : |
Avda.Pte. R.S.Peña 788 9º, Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
07.09.1998 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Subject is engaged in operation of a plastic industry,
specializing in the manufacture of self-adhesive laminates |
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No. of Employees : |
45 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Argentina |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
argentina ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate
population, an export-oriented agricultural sector, and a diversified industrial
base. Although one of the world's wealthiest countries 100 years ago, Argentina
suffered during most of the 20th century from recurring economic crises,
persistent fiscal and current account deficits, high inflation, mounting
external debt, and capital flight. A severe depression, growing public and
external indebtedness, and an unprecedented bank run culminated in 2001 in the
most serious economic, social, and political crisis in the country's turbulent
history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the
time the largest ever - on the government's foreign debt in December of that
year, and abruptly resigned only a few days after taking office. His successor,
Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the
US dollar in early 2002. The economy bottomed out that year, with real GDP 18%
smaller than in 1998 and almost 60% of Argentines under the poverty line. Real
GDP rebounded to grow by an average 8.5% annually over the subsequent six
years, taking advantage of previously idled industrial capacity and labor, an
audacious debt restructuring and reduced debt burden, excellent international
financial conditions, and expansionary monetary and fiscal policies. Inflation
also increased, however, during the administration of President Nestor
KIRCHNER, which responded with price restraints on businesses, as well as
export taxes and restraints, and beginning in 2007, with understating inflation
data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late
2007, and the rapid economic growth of previous years began to slow sharply the
following year as government policies held back exports and the world economy
fell into recession. The economy in 2010 rebounded strongly from the 2009 recession,
but has slowed since late 2011 even as the government continued to rely on
expansionary fiscal and monetary policies, which have kept inflation in the
double digits. The government expanded state intervention in the economy
throughout 2012. In May the Congress approved the nationalization of the oil
company YPF from Spain's Repsol. The government expanded formal and informal
measures to restrict imports during the year, including a requirement for
pre-registration and pre-approval of all imports. In July the government also
further tightened currency controls in an effort to bolster foreign reserves
and stem capital flight.
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Source : CIA |
Registered Name
SILILABEL S.A.
C.U.I.T. Nº 30-69898657-9
Summary
BEGINNER OF ACTIVITIES, INCORPORATED IN 1998. NO FINANCIAL DATA PROVIDED
ONLY TO BANKS AND TAX COMPTROLLERS. NO NEGATIVE REGISTERED. APT FOR CREDITS OF
MODERATE IMPORTANCE AND ADDITIONAL GUARANTEES.
Operations
> PLASTIC INDUSTRY.
> LAMINATE MANUFACTURING INDUSTRY STICKERS GRAPHICS, PHARMACEUTICAL AND
FOOD.
Legal Structure
LEGAL FORM: PUBLIC LIMITED COMPANY
CREATED: 07-09-1998
REGISTERED RPC: 05-10-1998
DURATION: 99
YEARS
END OF FISCAL YEAR: 30-09
Contact
Legal address: Avda.Pte. R.S.Peña 788 9º, Buenos Aires City, REPUBLIC of
ARGENTINA.
Dependences operatives address: Presidente Frondizi 2501-Parque Industrial
Pilar (Ruta Nacional nº 8 km.60), Pilar, Buenos Aires Province.
Phone-fax: info@sililabel.com
E.Mail: info@sililabel.com
Web: www.sililabel.com.ar
Partners
PRESIDENT: JORGE MARTIN
FOGEL
V.PRESIDENT: ANARES GUSTAVO GERZENSTEIN
DIRECTOR: NICOLAS GERSENSTEIN
ALTERNATE: SILVIA NOEMI FERRETTI
Using signature: President and V.President.
Corporate Stock
ORDINARY SHARES:
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SUBSCRIBED AND INTEGRATED $ 642.000.-
Personal Information
JORGE MARTIN FOGEL
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DNI. 10.731.210, argentino, married, born 10/05/1953.
ANARES GUSTAVO GERZENSTEIN
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DNI. 25.967.477, argentino, married, born 28.9.1977.
History
The activities to which reference was
initiated and implemented by this society, which is governed by legal clauses
above.
The main purpose of the company is the operation of a plastic industry,
specializing in the manufacture of self-adhesive laminates.
Economic-Financial Position
No provided financial information to third parties.
Assets
REAL ESTATE:
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Presidente Frondizi 2501-Parque Industrial Pilar (Ruta Nacional nº 8 km.60),
Pilar, Buenos Aires Province, of surface 2.500 m2.
Evolution and Results
Exploitation of the plastics industry that
specializes in the manufacture of self-adhesive laminates.
To develop alluded efforts has made ??the necessary operational structure,
being in front of the main responsible operations with 45 employees who
collaborate.
Performs various input imports from Peru and covers with its sales
domestically, making exports to Chile, Uruguay and Brazil.
He has international experience in development of self-adhesive laminates,
industrial and pharmaceutical, great knowledge of raw materials and products on
the domestic market and abroad.
The above allowed him to grow and develop new markets and growing applications
such as:
GRAPHICS
PHARMACEUTICAL LABORATORIES
FOOD
SAFETY
PERSONAL IDENTIFICATION
CONSTRUCTION.
The company has a current manufacturing capacity of 2,000,000 m2 laminate
month.
HABITUAL SUPPLIERS:
==================
KLOCKNER PENTAPLAST DE ARGENTINA S.A.
FOREIGN TRADE:
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In the last twelve months, it has made specific imports by u$s 211.264 from
Perú.
* 45 EMPLOYEES
Payment Record and Credit Risk
BBVA BANCO FRANCES
BANCO SANTANDER RIO
NUEVO BANCO INDUSTRIAL DE AZUL
BANCO DE GALICIA
Branch Pilar
INSURANCE:
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MAPFRE S.A.
CREDIT RISK MARCH 2013
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BANCO FRANCES $ 1.013.200
HIPOTECARIO 816.600
SANTANDER 761.300
INDUSTRIAL 541.400
GALICIA 319.500
COMAFI 247.300
AMEX 11.700
Situation 1, normal.
Concept
It is commercially related to companies of this one and other places,
good part of which offer its credit support without making until the moment
objections on the modes of payment that it sustains.
* FULFILLMENT: NOT OBJECTED.
Final Opinion
The lack of negative antecedents makes viable the credit relation with
the company, through of moderate credits and additional guarantees.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.61 |
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UK Pound |
1 |
Rs.83.98 |
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Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.