MIRA INFORM REPORT

 

 

Report Date :

11.10.2013

 

IDENTIFICATION DETAILS

 

Name :

ZARGON S.A.

 

 

Registered Office :

Camino a Carrasco 5937, 12100, Montevideo

 

 

Country :

Uruguay

 

 

Year of Establishments:

2006

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Wholesaler of agricultural and veterinary products

 

 

No. of Employees :

01

 

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)

Uruguay

A2

A2

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Uruguay ECONOMIC OVERVIEW

 

Uruguay has a free market economy characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending. Following financial difficulties in the late 1990s and early 2000s, economic growth for Uruguay averaged 8% annually during the period 2004-08. The 2008-09 global financial crisis put a brake on Uruguay's vigorous growth, which decelerated to 2.6% in 2009. Nevertheless, the country managed to avoid a recession and keep positive growth rates, mainly through higher public expenditure and investment, and GDP growth reached 8.9% in 2010 but fell to about 3.5% in 2012, the result of a renewed slowdown in the global economy and in Uruguay's main trade partners and Common Market of the South (Mercosur) counterparts, Argentina and Brazil. Uruguay has sought to expand trade within Mercosur and with non-Mercosur members. Uruguay''s total merchandise trade with Mercosur since 2006 has increased by nearly 70% to more than $5 billion while its total trade with the world has almost doubled to roughly $20 billion.

 

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

ZARGON S.A.

TAXPAYER REGISTRATION

RUT 215001130014

MAIN ADDRESS

Camino a Carrasco 5937

POSTAL CODE

12100

DEPT/PROV/REGION/STATE

Montevideo / Montevideo

COUNTRY

URUGUAY

TELEPHONE

(5982) 5251500

CORPORATE E-MAIL

aldomagri@netgate.com.uy

COMMENTS

 

 
Your order was forwarded without phone number to expedite our investigation.

 

EXECUTIVE SUMMARY

 

Date of foundation

2006

permanent employees

1

Chief Executive

MAGRI GELSI, ALDO JUAN

Disposition

Poor. Very few information was given. Politely.

Payments policy

Without rating (No payment experience traced)

Number of times that this company was required: 2

 

REPUTATION

 

NOTHING AGAINST COMPANY

 

 

LEGAL STRUCTURE

 

LEGAL STATUS

Joint-Stock Company

 

 

DATE OF INCORPORATION

2006

 

 

NOTARY OFFICE

 

DURATION

Indefinite.

CURRENT EXCHANGE RATE (US$)

Ps$19.30 Pesos per 1.00 USADollar

 

 

COMMENTS

 

 
We could verify with the Tax Directorate (DGI): The Company, ZARGON S.A., has its Annual Certificate of Good Standing duly in force. Issue date: 03/06/2013 - Expiration : 31/05/2014
 
Type of Taxpayer: NOCEDE
 
The accounting firm ARRECHAVELETA does the accounting for this Company.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

MAGRI GELSI, ALDO JUAN

President

YES

 

 

 

WHO IS WHO?

 

MAGRI GELSI, ALDO JUAN

TITLE

President

NATIONALITY

Uruguayan

D.O.B.

14APR1947

ID

IDE 9350470

BACKGROUND INFORMATION

 
He is a well-regarded entrepreneur  with extensive experience and good moral character.
 
He is referred to take part in the company TREMI LTDA.

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

 

TREMI LTDA.

URUGUAY

 

Related

 

 

BUSINESS

 

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

Main activity

 
Wholesale of agricultural and veterinary products.

OPERATIONS

Import

Yes

Country

China, India

ANNUAL Imports In US$ (CIF)

YEAR

AMOUNT

2012

202,050.00

2010

304,000.00

2009

157,500.00

Export

Yes

COUNTRY

Argentina

Annual exports in US$ (FOB)

YEAR

AMOUNT

2012

15,000.00

2011

153,225.00

2010

92,690.00

% CASH SALES / METHOD

20%

% Credit SALES / Terms

80% Terms: 90, 120, 180 days as average

% Ventas exterior (Paises)

100%

% FOREIGN PURCHASES

100%

SELLING TerritorY

Domestic and international markets.

EMPLOYEES

1

LOCATION

OTHER PREMISES

 
The above location is the Headquarters. 
 
Tax Domicile: Ruta 8 Km. 17.500, Edificio Costa Park, Zonamérica

Comments

 

 
Subject does not operate in the local market. 
 
It imports herbicides and insecticides from China and India and sells particularly in Argentina, all from the Free Zone.

 

 

FINANCIAL INFORMATION

 

Disposition

Poor. Very few information was given. Politely.

Interviewee(s)

Aldo Juan Magri Gelsi

Position(s)

Director / Shareholder

Information provided

 
The respondent provided operational and business data, but declined financial figures as that information is considered confidential.
 
We resorted to various external sources to supplement the information contained in this report, not finding by these means balance sheets or referential financial figures.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
B: FAIR
Despite having no financial statements available, we know that ZARGON S.A, is a company that operates directly in the Free Trade Zone. It is public knowledge that it operates without problems

 

 

 

 

 

INSURANCE

COMPANY

AMOUNT

EXPIRATION

BANCO DE SEGUROS DEL ESTADO

No specified

No specifi

 

Insurance Comments

 

 
Has insurance policy on the property, vehicle and covering working accidents.

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)


TRADE REFERENCES

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

 

Supplier

Country

ANHUI GUAN GXIN

CHINA

DVA HAMBURG

GERMANY

RAINBOW CHEMICAL

CHINA

MEGH MONEY

INDIA

ATUL LTD

INDIA

RAINBOW SHANDON

CHINA

 


CREDIT BUREAU COMMENTS

No negative found in the different sources researched.

 

 

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

 

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 31/07/2013

 

Bank

Debt Rating
(*) See caption

Current Debt

DOMESTIC CURRENCY

FOREIGN CURRENCY

SANTANDER S.A.

2A

 

404,125.07

Total

 

404,125.07

 

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 1                           31/07/2013

 

 

 

Domestic Currency

Foreign Currency

 

:

 

404,125.07

 

 

--------------------------------------------

--------------------------------------------

TOTAL DEBT

:

 

404,125.07

 

 

=========================

=========================

 

:

 

675,000.00

 

 

 

 

GENERAL INFORMATION

 

Explanation about commercial reputation

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.14

UK Pound

1

Rs.99.02

Euro

1

Rs.83.87

 

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%)

 

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.