MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

IMPORTADORA NOBEL'S LTDA.

 

 

Registered Office :

Manzana 7, Galpon 16, Zona Franca de Iquique.

 

 

Country :

Chile

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

1984

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in Importation and trade of different goods, including home appliances, dinnerware, decoration items, clocks, electronics line

 

 

No. of Employees :

20

 

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)

Chile

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CHILE - ECONOMIC OVERVIEW

 

Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for approximately one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides 19% of government revenue. From 2003 through 2012, real growth averaged almost 5% per year, despite the slight contraction in 2009 that resulted from the global financial crisis. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile has 22 trade agreements covering 60 countries including agreements with the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has joined the United States and nine other countries in negotiating the Trans-Pacific-Partnership trade agreement. In 2012, foreign direct investment inflows reached $28.2 billion, an increase of 63% over the previous record set in 2011. The Chilean Government has generally followed a countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and generally allowing deficit spending only during periods of low copper prices and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $20.9 billion. Chile used these funds to finance fiscal stimulus packages during the 2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

IMPORTADORA NOBEL'S LTDA.

TAXPAYER REGISTRATION

RUT 79519410K

MAIN ADDRESS

Manzana 7, Galpon 16, Zona Franca de Iquique.

DEPT/PROV/REGION/STATE

Iquique

COUNTRY

CHILE

TELEPHONE

(5657) 2427434 - 2412708

CORPORATE E-MAIL

info@nobels.cl

WEB

www.nobelschile.co.nr

COMMENTS

 

Email: chahhat@adsl.tie.cl

Website is under construction

 

EXECUTIVE SUMMARY

Date of foundation

1984

permanent employees

20

Chief Executive

LAKHWAN, SURESH

Disposition

Poor. Very few information was given. Politely.

Payments policy

(P5) Without rating (No payment experience traced)

Number of times that this company was required: 1

 

REPUTATION

NOTHING AGAINST COMPANY

 

LEGAL STRUCTURE

 

LEGAL STATUS

Limited Liability Company

 

 

DATE OF INCORPORATION

1984

 

 

PLACE OF REGISTRY

Iquique

 

 

NOTARY OFFICE

 

DURATION

Perpetual

INITIAL CAPITAL

Ps$.200,000,000.= Pesos

 

 

CURRENT EXCHANGE RATE (US$)

Ps$.518.= per USD.1.=

 

 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

LAKHWAN, SURESH

General Manager

100%

 

LIZARRO QUEVEDO, EUGENIO

Finance Manager

 

 

 

 

 

WHO IS WHO?

 

LAKHWAN, SURESH

TITLE

General Manager

NATIONALITY

Indian

D.O.B.

1959

 

 

 

 

LIZARRO QUEVEDO, EUGENIO

TITLE

Finance Manager

NATIONALITY

Chilean

 

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

NOBELS

HONG KONG

 

Related

 

 

 

BUSINESS

 

SIC Classification
5 7 - RETAIL TRADE -HOME FURNITURE, FURNISHINGS, AND EQUIPMENT STORES. (Trade of furniture and household appliance.)

Main activity

Importation and trade of different goods, including home appliances, dinnerware, decoration items, clocks, electronics line, etc.

 

Trademark: NOBEL LIVING

 

 

OPERATIONS

Import

Yes

Country

India and China

Export

No

% Credit SALES / Terms

100% (30, 45, 60 days)

% FOREIGN PURCHASES

100%

SELLING TerritorY

Domestic market

EMPLOYEES

20

LOCATION

PREMISES

Rented

Comments

 

Wholesaler - 100%

 

FINANCIAL INFORMATION

 

Disposition

Poor. Very few information was given. Politely.

Interviewee(s)

Eugenio Lizarro

Position(s)

Finance Manager

Information provided

Mr. Pizarro, confirmed general. He declined to give the financials and merely disclosed the Turnover amount for the FY 2012.

 

In order to complete this report we consulted third-party sources and official.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

B: FAIR

Although no balance sheets were available, found out this is a company of a medium infrastructure. It operates under a stable trend. No restraints were reported by credit bureaus.  Insured company.

 

 

 

 

 

Sales History in US$ (of Balance Sheet, statement of third parties)

Date

Sales (US$)

31/12/2012

5,000,000.00

Property of company comments

 

Fixed assets include a real estate  valued at Ps$.73,911,184.= Pesos.

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

ISE CHILE

All risk

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Subject does not register local credit experiences since it carries out mainly importing activities.

 

Comments :

It banks with BANCO SANTANDER

 

 

 

GENERAL INFORMATION

 

Explanation about commercial reputation

 

 

 

 

 

CREDIT OPINION


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

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.