MIRA INFORM REPORT

 

 

Report Date :

09.10.2013

 

IDENTIFICATION DETAILS

 

Name :

AMARAL CONSULTING INC

 

 

Registered Office :

Km 50 1/2 Carretera Granada a Nanadaime, Granada, Dept Diromio

 

 

Country :

Nicaragua

 

 

Date of Incorporation :

2010

 

 

Legal Form :

Sociedad Anonima

 

 

Line of Business :

This subject is engaged to the sales of leather.

 

 

No. of Employees :

189

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

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)

Nicaragua

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NICARAGUA - ECONOMIC OVERVIEW

 

Nicaragua, the poorest country in Central America and the second poorest in the Western Hemisphere, has widespread underemployment and poverty. The Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) has been in effect since April 2006 and has expanded export opportunities for many agricultural and manufactured goods. Textiles and agriculture combined account for nearly 50% of Nicaragua's exports. The ORTEGA administration's promotion of mixed business initiatives, owned by the Nicaraguan and Venezuelan state oil firms, together with the weak rule of law, could undermine the investment climate for domestic and international private firms in the near-term. Nicaragua relied on an IMF external credit facility to meet internal- and external-debt financing obligations. The most recent IMF program ended in 2011 and Nicaragua is currently in negotiations for a new program. Nicaragua depends heavily on foreign development assistance, however, donors have curtailed this funding in response to November 2008 and subsequent electoral fraud. Nicaragua still struggles with a high public debt burden, however, it succeeded in reducing that burden in 2011. The economy grew at a rate of about 4% in 2012.

 

Source : CIA

 

 

GEOPOLITICS – NICARAGUA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: High

Currency: 100(NIO)= 4.00(USD)

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

AMARAL CONSULTING INC TENERIA LA FUENTE

Address in the order:

KM 50 1/2 CARRETERA GRANADA - NANDAIME GRANADA, NICARAGUA. C.A

Legal Name:

AMARAL CONSULTING INC

Trade Name:

TENERIA LA FUENTE

Legal Address

Km 50 1/2 Carretera Granada a Nanadaime.

Postal Town

Granada

Post Code

N.A.

Primary Geographic Area

Diromio

Country

NI

Location Status

Headquarters, Single Location, Legal Address,

Operative Address

Km 50 1/2 Carretera Granada a Nanadaime, Granada, Dept Diromio, Nicaragua.

Telephone:

(505) 2552-8414/(505) 2552-8415

RUC :

J0310000132178

Fax:

(505) 2552-6319

Legal Form:

Sociedad Anonima

Email:

jlacayo@tenerialafuente.com.ni

Registered in:

NI

Website:

N.A.

Date Created:

2010

Manager:

Rene Altamirano

Date Incorporated:

June 2013

Staff:

189

Stock:

N.A.

 

 

Value:

N.A.

Activity:

This company is engaged to the sales of leather.

 

 

BANKS

 

Name of the Bank

Banpro

Comments

This information was provided by the subject company.

 

 

BUSINESS HISTORY

 

 

This company was created in 2010 in Nicaragua.

PRINCIPAL ACTIVITY

 

This company is engaged to the sales of leather.

Products/Services description:

 

They process the bovine skin.

Sales are:

 

Wholesale

Clients:

 

Leather Distributors.

Suppliers:

 

The person contacted refused to provide us with this information as it is considered as confidential.

We could not find suppliers through export and import directories.

 

Operations area:

 

National, International, Local

The company imports from Europe and Central America

The company exports to Asia, Europe and Central America.

The subject employs 189 employee(s)

Comments on staff:

 

The amount of employees was provided by the company.

PAYMENTS

 

regular

LOCATION

Headquarters

 

Km 50 1/2 Carretera Granada a Nanadaime, Granada, Dept Diromio, Nicaragua.

The property is:

 

Owned

Comments on location:

 

They count with administrative office, warehouse and  sales department.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is privately owned.

Despite our long searches it has not been possible to identify the shareholders.

The person contacted at the company refused to provide that information on grounds of confidentiality.

 

Management:

 

General Manager: Rene Altamirano.

Sales Manager: Octavio Alexander Valencia Pérez.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted Jorge Lacayo Gutierrez, Administrative Assistant, who refused to provide us any financial data on grounds of confidentiality/without knowing the name of the inquiring party.

Comments on the financial data: Despite our long searches and the contact with the company we could not get financial information for 2012 or 2013.

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

Rating

Local credit bureau gave a low credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 Final Opinion

 

The company has 3 months of experience.

 

This company is engaged to the sales of leather.

 

They currently have 189 employees, for which it is considered a medium size company.

 

It has bank accounts with a well known bank and has steady commercial relations with its suppliers.

 

We recommend strong guarantees they have 2 years of incorporation and 3 months in operations , is a very young company so we cannot grand any credit at this moment.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

Indebtedness

N.A.

Payments

TO BE MONITORED

Cash

N.A.

 

 

 

 

APPENDIX

 

Person Interviewed

 

Jorge Lacayo Gutierrez.

Position

 

Administrative Assistant.

Comments

 

He provided the following information:

 

Address, Legal Name, e-mail, names of the administration personnel, activity, import and export countries and amount of employees.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.69

UK Pound

1

Rs.99.20

Euro

1

Rs.83.69

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.