MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

PLASTIMAR I.C.S.A.

 

 

Registered Office :

Avda.Venezuela Nro. 1255 casi Florida,  Asunciòn, Repúblic of Paraguay

 

 

Country :

Paraguay

 

 

Date of Incorporation :

1974

 

 

Legal Form :

Public limited company

 

 

Line of Business :

Manufacturing and marketing of garments,

 

 

No. of Employees :

300

 

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 :

Satisfactory

Payment Behaviour :

Slow but correct

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)

Paraguay

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

PARAGUAY - ECONOMIC OVERVIEW

 

Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. A large percentage of the population, especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. On a per capita basis, real income has stagnated at 1980 levels. The economy grew rapidly between 2003 and 2008 as growing world demand for commodities combined with high prices and favorable weather to support Paraguay's commodity-based export expansion. Paraguay is the sixth largest soy producer in the world. Drought hit in 2008, reducing agricultural exports and slowing the economy even before the onset of the global recession. The economy fell 3.8% in 2009, as lower world demand and commodity prices caused exports to contract. The government reacted by introducing fiscal and monetary stimulus packages. Growth resumed at a 13% level in 2010, the highest in South America, but slowed to about 4% in 2011 as the stimulus subsided. In 2012, severe drought and outbreaks of foot-and-mouth disease led to a drop in beef and other agricultural exports and the economy contracted about 0.5%. Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth

Source : CIA

 

 Registered Name 

 

 

PLASTIMAR I.C.S.A.

R.U.C.: 80002459-0

 

 

Summary 

 

 

COMPANY ESTABLISHED IN 1994, IS INITIATED OF ACTIVITIES. NOT PROVIDE FINANCIAL INFORMATION, NO NEGATIVE REGISTERED. CONSIDERED APT FOR CURRENT CREDITS AND ADDITIONAL GUARANTEES.

 

 

Operations 

 

 

> CLOTHING
> CONFECCION
> COMERCIALIZATION

 

 

 

Legal Structure 

 

 

Legal form:                  Public limited company
Created:                      1974
Registered R.P.C.:      Asunciòn
Duratiòn:                     Unlimited
End of fiscal year:      31 December

 

Contact 

 

 

Lic.Marlene de Pedrozo.

Operative and administrative address: Avda.Venezuela Nro. 1255 casi Florida,  Asunciòn, Repúblic of Paraguay.

Phone.: (595-21) 290558
Fax.: (595-21) 291361
E-mail: plastimar@plastimar.com.uy

 

 

Partners 

 

 

President:                            ISMACCHOWIEZ MARCOS
Administrative Manager:      DEBITTAR SANDRA

Using of signature: President.

 

 

History 

 

 

In the course of 1974 and in order to address the exploitation of the activities developed.

 

 

Economic-Financial Position 

 

 

The company not provided balance sheet, only mentioned that the annuals sales is u$s 2.500.000 .

 

 

Assets 

 

 

REAL ESTATE:
------------
Operative and administrative address: Avda.Venezuela Nro. 1255 casi Florida,  Asunciòn, Repúblic of Paraguay. Surface covered of 5000m2.

VEHICLES:
---------
6 trucks Mercedes Benz, recent model.

 

 

Evolution and Results 

 

 

The holder is dedicated to the manufacturing and marketing of garments, for which it has mounted and equipped workshop technology imposes a highly competitive and aggressive.

From the attention and direction of business managers are responsible, who have the support of the staff required appraised in moments between level produced in interesting view.

It should be noted that expanding its scope, has been enabling various sales outlets in various sectors of the city of Asuncion.

FOREIGN TRADE:
-------------
Import from Argentina, Italy, Chine and Taiwan, and export a 5% to EE.UU.

* 300 EMPLOYEES.

MAIN SUPPLIERS:
---------------
ENTRETELAS AMERICANAS S.A. (Argentina)
ROMIPACK S.A. (Argentina)
CATAHUACE LTDA. (Brasil)
PEDRO FERREIRA DOS SANTOS (Brasil)

 

 

Branches     

 

 

Locals sales:
=============
SHOPPING DEL SOL 1º
Tel. 595 21 611 735
Asuncion (Paraguay)

SHOPPING MARISCAL LOPEZ 1º
Tel. 595 21 608 492
Asuncion (Paraguay)

Mariscal Lopez y Pintiantuta
Tel. 595 21 226 862
Asuncion (Paraguay)

Palma y O´leary
Tel. 595 21 447 778
Asuncion (Paraguay)

MEGA STORE CARMELITAS
Malutin c/Av. Espàña
Tel. 595 21 602 684
Asuncion (Paraguay)

Avda. Irrazabal y Sgto. Reverchon
Tel. 595 71 209 066
Encarnacion (Paraguay)

SHOPPING BRITANICO LOCAL 30
Tel. 595 21 761 955
Mariano R. Alonso (Paraguay)

SHOPPING PINEDO LOCAL 48
Tel. 595 21 324 9060
San Lorenzo (Paraguay)

 

 

Payment Record and Credit Risk 

 

 

HSBC BANK                   Centralhouse
INTERBANCO                  Centralhouse
BANCO ITAU                  Centralhouse

INSURANCE:
----------
LA PARAGUAYA CIA.DE SEGUROS GENERALES S.A.

 

 

Concept 

 

 

So far this society does not have registered any negative background.

The checks carried out determine the correct behavior in the attention of the general obligations assumed and is well referenced.

* NO OBJECTIONS.

 

 

Final Opinion 

 

 

It concludes that it is a society which can be linked credit operations within sums of current economic importance, with the application of the guarantees that are usually required.

 


 

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.