MIRA INFORM REPORT

 

 

Report Date :

07.11.2013

 

IDENTIFICATION DETAILS

 

Name :

ABASTOS CANTABRIA S.A. DE C.V.

 

 

Registered Office :

Zona 1, Nave 2, Bodega H, No. 32, Interior C, Col. Central de Abastos, Deleg. Iztapalapa, 09040 México D.F

 

 

Country :

Mexico

 

 

Date of Incorporation :

1995

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

 
Engaged in distribution of dried chillies, oregano, sesame, cumin.

 

 

No. of Employees :

12

 

 

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

ABASTOS CANTABRIA S.A. DE C.V.

TRADE NAME

ABASTOS CANTABRIA

TAXPAYER REGISTRATION

RFC ACA951025K56

MAIN ADDRESS

Zona 1, Nave 2, Bodega H, No. 32, Interior C, Col. Central de Abastos, Deleg. Iztapalapa

POSTAL CODE

09040

DEPT/PROV/REGION/STATE

México D.F.

COUNTRY

MEXICO

TELEPHONE

(5255) 56940937 - 56944161 - 56941253

COMMENTS

 

 
E-mail: abastoscantabria@yahoo.com
 
Subject does not have a website.

 

EXECUTIVE SUMMARY

Date of foundation

1995

permanent employees

12

Chief Executive

GARCIA OCHOA, GERARDO

Disposition

Declined. Refused to answer unpolitely.

Payments policy

Without rating (No payment experience traced)

Number of times that this company was required: 2

 

 

LEGAL STRUCTURE

 

 

LEGAL STATUS

Stock Company of Variable Capital

 

 

DATE OF INCORPORATION

25OCT1995

 

 

PLACE OF REGISTRY

Mexico DF

 

 

NOTARY OFFICE

 

DURATION

99 years

CURRENT EXCHANGE RATE (US$)

Ps$13.03 per US$1.= Dollar

 

 

COMMENTS

 

 
Abastos Cantabria S.A. de C.V. is a Mexican company that was incorporated on 25/10/1995 in Mexico City, and since its incorporation its legal status has not been changed.
 

 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

GARCIA OCHOA, GERARDO

General Director

 

 

GARCIA SARMIENTO, JOSE ANTONIO

General Manager

 

 

 

 

 

WHO IS WHO?

 

 

GARCIA OCHOA, GERARDO

TITLE

General Director

NATIONALITY

Mexican

 

 

 

 

GARCIA SARMIENTO, JOSE ANTONIO

TITLE

General Manager

NATIONALITY

Mexican

 

 

 

 

 

 

BUSINESS HISTORY

 

 

 
Subject is not related to any other companies.

 

 

BUSINESS

 

 

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

Main activity

 
Subject is engaged in distribution of dried chillies, oregano, sesame, cumin.
 

O P E R A T I O N S

Import

Yes

Country

Hong Kong, Ukraine, Brazil, India, Chile, Norway, Bulgaria; by direct credit

Export

No

% CASH SALES / METHOD

50%

% Credit SALES / Terms

50% (Terms: 15 and 30 days)

% FOREIGN PURCHASES

100%

SELLING TerritorY

100% (Domestic market)

EMPLOYEES

12

LOCATION

OTHER PREMISES

 
Subject's registered office, administrative offices and store are located on the above-mentioned address.
 
It does not have any other premises.

Comments

 

 
Subject's main customers are wholesalers (80%), and retailers and the general public (20%).
 
Working Hours: Monday to Friday from 09:00 to 17:00 and Saturday from 09:00 to 13:00.
 

 

 

 

FINANCIAL INFORMATION

 

 

Disposition

D: Declined. Refused to answer unpolitely.

Information provided

 
It should be clarified that although we have insisted to talk with any of subject's executives, the secretary who was very suspicious and did not give her name said that subject's policy was not to provide any information to third parties.
 
Therefore, all the information included in this report was obtained from various external consultation sources because subject refused to provide any financial and commercial information as it was considered confidential and for internal use only.
 
Unfortunately, in consulted sources, it was not found any of subject's balance sheets or financial information.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
NN: UNDETERMINED
This company's Financial Situation is deemed to be UNDETERMINED because it was not found any Financial Statements to carry out a proper analysis of its performance over the last fiscal year.

Property of company comments

 

 
Subject's main assets include:
- Vehicles
- Office furniture and equipment
- Computer equipment

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: CASA HOMS S.C.

Tel.: (55229) 9890314

Country: MEXICO

Goods/Services? : Customs services

 

 

Highest credit? : Not specified

 

 

Client since? : Sv.years

Terms? : 15 days

Performance? : Prompt

Comments : Good customer

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

IMPORTACAO E EXPORTACAO TERRA E MAR LTDA.

BRAZIL

AKS-NEW LTD.

BULGARIA

ONIZZO EXPORTACIONES LIMITADA

CHILE

TOP PEARL LTD.

HONG KONG

SHARMILI SPICES PRIVATE LIMITED

INDIA

A. FISHCON EXPORT AS

NORWAY

IMPEX CORPORATION (PTE.) LTD.

SRI LANKA

PE'BEST 2000'

UKRAINE

 

 

Comments :

BANCO NACIONAL DE MEXICO S.A. Subject is a client of the above-mentioned bank. No additional information was obtained under bank secrecy.

 

 

 

CREDIT OPINION

 

 

Consulted Credit Amount :

CREDIT LIMIT?

 

Given no balance sheets were provided and no references on payments and more information were obtained


NOTE : The opinion given is confidential, referential and with out liability.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.92

UK Pound

1

Rs.99.59

Euro

1

Rs.83.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.