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Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
QNOVA SA |
|
|
|
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Registered Office : |
Carretera Al Pacifico Km. 19.3, Granjas Italia, Nº 5, Zona 4, Villanueva |
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|
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Country : |
Guatemala |
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Date of Incorporation : |
07.02.2007 |
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Legal Form : |
Stock Company |
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|
|
|
Line of Business : |
importation, commercialization
and distribution of chemical
products |
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|
|
No. of Employees : |
50 (approximately) |
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 |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Guatemala |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
Guatemala ECONOMIC OVERVIEW
Guatemala is the most populous country in Central America with a GDP
per capita roughly one-half that of the average for Latin America and the
Caribbean. The agricultural sector accounts for 13% of GDP and 38% of the labor
force; key agricultural exports include coffee, sugar, bananas, and vegetables.
The 1996 peace accords, which ended 36 years of civil war, removed a major
obstacle to foreign investment, and since then Guatemala has pursued important
reforms and macroeconomic stabilization. The Dominican Republic-Central
American Free Trade Agreement (CAFTA-DR) entered into force in July 2006
spurring increased investment and diversification of exports, with the largest
increases in ethanol and non-traditional agricultural exports. While CAFTA-DR
has helped improve the investment climate, concerns over security, the lack of
skilled workers and poor infrastructure continue to hamper foreign direct
investment. The distribution of income remains highly unequal with the richest
20% of the population accounting for more than 51% of Guatemala's overall
consumption. More than half of the population is below the national poverty
line and 13% of the population lives in extreme poverty. Poverty among
indigenous groups, which make up 38% of the population, averages 73% and extreme
poverty rises to 28%. Nearly one-half of Guatemala's children under age five
are chronically malnourished, one of the highest malnutrition rates in the
world. Given Guatemala''s large expatriate community in the United States, it
is the top remittance recipient in Central America, with inflows serving as a
primary source of foreign income equivalent to nearly two-fifths of exports or
one-tenth of GDP. Economic growth fell in 2009 as export demand from US and
other Central American markets dropped and foreign investment slowed amid the
global recession. The economy gradually recovered in 2010-12.
Source
: CIA
|
IDENTIFICATION |
|
|
COMPANY
NAME |
QNOVA SA |
|
TRADE NAME |
QNOVA |
|
TAX ID
TYPE |
NIT |
|
TAX ID
NUMBER |
5214910-2 |
|
CURRENT
STATUS |
Active |
|
MAIN
ADDRESS |
Carretera
al pacifico Km. 19.3, Granjas Italia, Nº 5, Zona 4 |
|
CITY/PROVINCE/STATE |
Villanueva |
|
PHONE
NUMBER(S) |
(502)
6630.5353 |
|
FAX
NUMBER |
(502)
6630.7381 |
|
E-MAIL |
infor@quirsa.com.gt |
|
WEB SITE |
www.quirsa.com.gt
(Corporate) |
|
CR-RATING |
CR. B:
LOW RISK |
|
PAYMENT
HISTORY |
EP. E:
WITHOUT CREDIT EXPERIENCE |
|
COMMENTS
OF IDENTIFICATION.- |
This
report was requested with company ONOVA SA, which is incorrect. Please be
advised that the correct company name corresponding to subject is as shown in
the heading. This report was requested with address Carretera Al pacifica
Kilometro 19 3 Granias italia No. 5 Villa Nueva. Please be advised that the
correct address corresponding to subject is as shown in caption. |
|
LEGAL
ASPECTS |
|
|
LEGAL
STATUS |
Stock
Company |
|
INCORPORATION
DATE |
07/02/2007 |
|
REGISTERED
IN |
Villanueva |
|
DURATION |
Unlimited |
|
REGISTRATION |
Deed No
15 |
|
INITIAL
CAPITAL |
Qz.5,000.00
Quetzales |
|
LISTED AT
STOCK EXCHANGE |
NO |
|
RATE OF EXCHANGE |
US$1.00 =
Q.7.92 as of report date |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
REITZEL
HACK, GUNTHER HEINRICH |
President/General
Manager |
|
|
ALBUREZ
BARRIOS, CLAYTON ESTUARDO |
Finance
Manager |
|
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REITZEL
PRETI, ALEXANDER HUMBERTO |
Imports
Manager |
|
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SOSA,
CARLOS |
Accountant |
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No negative
information found.
|
LOCAL
SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
DISTRIBUIDORA
Y DROGUERIA DEL CARIBE SA |
Victor Peralta |
(502) 2326.6666 |
|
BASF DE GUATEMALA SA |
Olga
Gracias |
(502)
2445.7600 |
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FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
UNGBUNZLAUER
AUSTRIA AG |
|
|
AUSTRIA |
|
ROTEM
AMFERT NEGEV LTD CO |
|
|
ISRAEL |
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JRS PHARMA GMBH & CO KG |
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GERMANY |
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SINOCHEM
JIANGSU CORPORATION |
|
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CHINA |
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MACCO
ORGANIQUES SRO |
|
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CZECH
REPUBLIC |
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FRESENIUS
KAI AUSTRIA GMBH |
|
|
AUSTRIA |
|
NITIKA
PHARMACEUTICAL SPECIALITIES PVT LTD |
|
|
INDIA |
|
RELATED
COMPANIES |
||
|
NAME |
TAX ID.
NUMBER |
COUNTRY |
|
CORPORACION
QUIRSA SA |
2641158-K |
GUATEMALA |
|
QUIMICA REITZEL DE EL SALVADOR SA DE CV |
|
EL
SALVADOR |
|
REPRESENTACIONES
Y QUIMICOS SA |
2641153-9 |
GUATEMALA |
|
COMMENTS
ON LEGAL ASPECTS .- |
||
|
The
subject was constituted on 07/02/2007. Later, on 20/02/20007, it was
registered in the Management Tax Services (SAT). Also, it was provisionally
registered in the Mercantile Registry. On 15/03/2007, it was definitively
registered in the Mercantile Registry. |
||
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We interviewed Mr. Clayton Alburez (Finance Manager), who
denied to provide commercial information regarding subject on grounds of
confidentiality. For this reason, this report was elaborated with information
obtained from outside sources. It is worthy of mention that it was not
possible to obtain financial figures from outside sources. QNOVA SA is a
commercial company established in 2007, from which negative background
detrimental to its operations has not been found. COUNTRY CONTEXT -
GUATEMALA: The below information has been obtained from a highly regarded
public source that issues comments on all of world's countries. Taxes: -
Guatemalan income tax: 5% on the net profit-business: - Alphabetic currency
code for every country by the International Organization for Standardization
(ISO) 4217:Quetzal (GTQ). Main economic indicators: - External debt: US$16.17
billion (31 December 2012 est.) - International net reserves: US$6.311
billion (31 December 2012 est.) - Inflation rate forecasted: 4% (2012 est.) -
GDP real growth rate: 3.1% (2012 est.) - Annual GDP per capita: US$5,200
(2012 est.) GDP - composition by sector: agriculture: 13% industry: 23.8%
services: 63.2% (2012 est.) - Labour force of 5.571 million people divided
by: agriculture: 38% industry: 14% services: 48% Unemployment rate: 4.1%
(2011 est.) Productivity sectors: Agriculture - products: sugarcane, corn,
bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens - Industrial-
products:: sugar, textiles and clothing, furniture, chemicals, petroleum,
metals, rubber, tourism Foreign trade: Exports: US$9.864 billion (2012 est.)
country comparison to the world: 95 Exports - commodities: coffee, sugar,
petroleum, apparel, bananas, fruits and vegetables, cardamom Exports -
partners: US 37.9%, El Salvador 10.5%, Honduras 6.8%, Mexico 5.1% Imports:
US$15.57 billion (2012 est.) country comparison to the world: 86 Imports -
commodities: fuels, machinery and transport equipment, construction
materials, grain, fertilizers, electricity, mineral products, chemical
products, plastic materials and products Imports - partners: US 40.4%, Mexico
11.6%, China 8.2%, El Salvador 4.5% Final Brief: Commercial Country Risk: LOW
Political Country Risk: LOW |
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DETAILS
OF FIXED ASSETS.- |
|
The
subject counts with: - Office equipments - Furnishings - Tools Among others. |
|
INSURANCE.- |
|
The
subject holds all loss insurance policy with SEGUROS Y FINANZAS G Y T
CONTINENTAL SA (coverage amount and maturity date were not supplied). |
|
CREDIT
FILES |
|
Consulted
suppliers just confirmed to have subject as client without giving further
information on grounds of confidentiality. |
|
RATE OF EXCHANGE |
US$1.00 =
Q.7.92 as of report date |
|
WHO IS
WHO? |
|
REITZEL
HACK, GUNTHER HEINRICH |
|
German
(naturalized Guatemalan), Married Ana Maria Preti de Reitzel, With Address:
Calle 18-26, Zona 15 Colonia VH, Guatemala, Tel. (502) 2365.8101,. |
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE
(WHOLESALE) |
|
ACTIVITY |
CHEMICAL
PRODUCTS |
|
ISIC
CATEGORY |
G-WHOLESALE
AND/OR RETAIL SALE |
|
ISIC
CLASS |
5149-Wholesale
of Chemical Substances, Textile Fibers, Manure, etc. |
|
MAIN
ACTIVITY |
The
subject was engaged to the importation, commercialization and distribution of
chemical products in general. |
|
% CASH
SALES/PAYMENT METHOD |
30% |
|
% CREDIT
SALES/TERMS |
70%
(Invoices at 30 days) |
|
TERRITORY
OF SALES |
100%
(National market) |
|
% LOCAL
PURCHASING |
20% |
|
% FOREIGN
PURCHASING |
80% |
|
N. OF
EMPLOYEES |
50
(approximately) |
|
LOCATION |
|
TAX
DOMICILE, ADMINISTRATIVE OFFICES, COMMERCIAL OFFICE and WAREHOUSES: Located
at captioned address in a commercial zone of easy access. 2-story premises property
of CORPORACION QUIRSA SA (shared offices). |
|
COMMENTS
OF OPERATIONS.- |
|
The
subject imports from Germany, England, Austria, Switzerland, China, USA and
Japan. |
|
BANKERS /
REFERENCE |
||||
|
Bank Name |
Account
Number |
Account
Officer |
Telephone |
Country |
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BANCO G
& T CONTINENTAL SA |
|
|
|
GUATEMALA |
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BANCO INDUSTRIAL SA |
|
|
|
GUATEMALA |
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BANCO
AGROMERCANTIL SA |
|
|
|
GUATEMALA |
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BANK
COMENTS |
||||
|
The above
banks reported they do not provide information regarding their clients as per
bank secrecy. |
||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.