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Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SERVICE TRADING S.A. DE C.V. |
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Registered Office : |
Mario Pani 200, Col. Santa Fé, Deleg. Cuajimalpa de Morelos, Postal code 05109, México DF |
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Country : |
Mexico |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
09.10.1992 |
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Com. Reg. No.: |
No. 54175 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Subject is engaged in import and trading of merchandise in
general |
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No. of Employees : |
Subject does not have own staff |
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 : |
No Complaints |
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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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Mexico |
A2 |
A2 |
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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 |
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).
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Source : CIA |
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CORRECT COMPANY NAME |
SERVICE TRADING
S.A. DE C.V. |
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TRADE NAME |
SERVICE TRADING |
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TAXPAYER REGISTRATION |
RFC STR921014AR0 |
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MAIN ADDRESS |
Mario Pani 200, Col. Santa Fé, Deleg.
Cuajimalpa de Morelos |
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POSTAL CODE |
05109 |
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DEPT/PROV/REGION/STATE |
México DF |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 52683000 |
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CORPORATE E-MAIL |
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WEB |
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COMMENTS |
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Other e-mail: eynestrillas@liverpool.com.mx |
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Date of foundation |
1992 |
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Capital stock |
Ps$350,000.= Pesos |
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permanent employees |
It does not have own staff (*) |
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Disposition |
Excellent. Full information and Financial
Statements. |
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Payments policy |
Usually to terms/good |
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Number of times that this company was
required: 8 |
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LEGAL STATUS |
Stock
Company of Variable Capital |
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DATE OF INCORPORATION |
09OCT1992 |
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PLACE OF REGISTRY |
Mexico
DF |
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NOTARY OFFICE |
N°55
- Juan Manuel G. de Queve |
DURATION |
99
years |
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REGISTRATION |
No.
54175 |
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INITIAL CAPITAL |
Ps$350,000.=
Pesos |
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CURRENT PAID-IN CAPITAL |
Ps$350,000.=
Pesos |
LAST CAPITAL INCREASE |
No
increase reported |
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CURRENT EXCHANGE RATE (US$) |
Ps$12.34 per 1 USD |
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- EXECUTIVES –
SHAREHOLDERS
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OPERADORA
LIVERPOOL S.A. DE C.V. |
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BUSINESS
BACKGROUND Mexican company that acts as sub-holding of Distribuidora Liverpool S. A. de C. V. and other companies operating department stores.Opelisa is controlled by EL PUERTO DE LIVERPOOL S.A.B. DE C.V. , a holding of companies which in turn has a group of subsidiaries and affiliates. |
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INMOBILIARIA
FLOREAL S.A. DE C.V. |
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BUSINESS
BACKGROUND Mexican company. |
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Subject is part of the LIVERPOOL Group, whose main activity is the operation of department stores. Subject started operations in 1847; and as from 1980, Subject extended its activity to renting and transfer of personal and real properties. Subject also operates shopping centers. |
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Main activity |
Subject is engaged in import and trading of merchandise in general. Third party's brands. |
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OPERATIONS |
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Import |
Yes |
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Country |
Europe, Asia, Latin America, and United States |
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Export |
No |
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% CASH SALES / METHOD |
40% |
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% Credit SALES / Terms |
60% (60,90 days-terms) |
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% FOREIGN PURCHASES |
100% |
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SELLING TerritorY |
100% Domestic market |
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EMPLOYEES |
It does not have own staff (*) |
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Comments |
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(*) Corporate services are supplied by SERVICIOS LIVERPOOL. Subject's only client is its related company DISTRIBUIDORA LIVERPOOL S.A. DE C.V. - DILISA. |
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Disposition |
A: Excellent. Full information and
Financial Statements. |
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Position(s) |
Fin. Corporate Manager |
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Information provided |
The Finance Corporate Manager partially collaborated with the investigation and postponed the delivery of the balance sheet for the week. If so, we will immediately send a, otherwise consider this as final. We turned to third sources to supplement information. No balance sheets were available. As reference, we provide the CONSOLIDATED FIGURES as of 12/31/2010 (12 months) of EL PUERTO DE LIVERPOOL S.A.B DE C.V. and SUBSIDIARIES, expressed in Pesos. |
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Comments |
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CONSOLIDATED BALANCE SHEET OF EL PUERTO DE LIVERPOOL S.A.B. DE C.V. AND SUBSIDIARIES DATE OF BALANCE SHEET : 31DEC2010 TYPE OF BALANCE SHEET : Consolidated PERIOD : 12 months CURRENCY : Peso EXCHANGE RATE PER US$ : 13.37 ASSETS TOTAL CURRENT : 35,218,813,000.00 FIXED : 28,469,868,000.00 OTHER : 4,588,889,000.00 TOTAL ASSETS : 68,277,570,000.00 LIABILITIES TOTAL CURRENT : 17,368,970,000.00 LONG TERM : 8,921,456,000.00 OTHER : 4,168,069,000.00 TOTAL SHAREH. EQUITY : 37,819,075,000.00 TOTAL LIAB./SH.EQUITY : 68,277,570,000.00 SALES : 52,262,352,000.00 PROFIT (LOSS) : 5,154,686,000.00 |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
UNDETERMINEDFinancial situation of the Company is considered as undetermined due to it doesn't have enough financial elements to assess its results.Based on the obtained information, Subject is a company founded 1992. It is a 100% importer; however, it is worth mentioning that no adverse were found and it has the support of an important business group in the country. |
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Property of company comments |
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Due to the nature of its activities, the Company has no fixed assets. |
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Insurance Comments |
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No information on insurances was available. |
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(Confidential Information)
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.62 |
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UK Pound |
1 |
Rs.84.18 |
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Euro |
1 |
Rs.71.96 |
INFORMATION DETAILS
|
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.