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Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
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Name : |
FAMIQ S.R.L. |
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Formerly Known
as: |
FAMIQ S.A. |
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Registered Office : |
Av. San Martin 4719/23, Buenos Aires City |
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Country : |
Argentina |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.05.1967 |
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Legal Form : |
Liability Limited Company |
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Line of Business : |
Manufacturer and commercialization
of pipes and accessories of stainless steel. |
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No. of Employees : |
152 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Argentina |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
argentina ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate
population, an export-oriented agricultural sector, and a diversified
industrial base. Although one of the world's wealthiest countries 100 years
ago, Argentina suffered during most of the 20th century from recurring economic
crises, persistent fiscal and current account deficits, high inflation,
mounting external debt, and capital flight. A severe depression, growing public
and external indebtedness, and an unprecedented bank run culminated in 2001 in
the most serious economic, social, and political crisis in the country's
turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default -
at the time the largest ever - on the government's foreign debt in December of
that year, and abruptly resigned only a few days after taking office. His
successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1
peg to the US dollar in early 2002. The economy bottomed out that year, with
real GDP 18% smaller than in 1998 and almost 60% of Argentines under the
poverty line. Real GDP rebounded to grow by an average 8.5% annually over the
subsequent six years, taking advantage of previously idled industrial capacity
and labor, an audacious debt restructuring and reduced debt burden, excellent
international financial conditions, and expansionary monetary and fiscal
policies. Inflation also increased, however, during the administration of
President Nestor KIRCHNER, which responded with price restraints on businesses,
as well as export taxes and restraints, and beginning in 2007, with
understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her
husband as President in late 2007, and the rapid economic growth of previous
years began to slow sharply the following year as government policies held back
exports and the world economy fell into recession. The economy in 2010
rebounded strongly from the 2009 recession, but has slowed since late 2011 even
as the government continued to rely on expansionary fiscal and monetary
policies, which have kept inflation in the double digits. The government
expanded state intervention in the economy throughout 2012. In May the Congress
approved the nationalization of the oil company YPF from Spain's Repsol. The
government expanded formal and informal measures to restrict imports during the
year, including a requirement for pre-registration and pre-approval of all
imports. In July the government also further tightened currency controls in an
effort to bolster foreign reserves and stem capital flight.
|
Source : CIA |
FAMIQ S.R.L.
CUIT 30-53806884-1
INCORPORATED ON 1967. BEGINNER OF ACTIVITIES.- BALANCE SHEET AS OF
31/12/2011. NORMAL EVOLUTION, DOES NOT REGISTER NEGATIVE ANTECEDENTS. FIT
FOR CREDITS OF CURRENT IMPORTANCE AND ADDITIONAL GUARANTEES.
STAINLESS STEEL PIPES
MANUFACTURE
COMMERCIALIZATION
Business type: Liability Limited Company
Incorporated: 1967
Registered: 24/05/1967
Duration: 02/03/2096
End of fiscal year: 31/12
Miss. Lorena Cerutti from Administration
Legal and operative address: Av. San Martin 4719/23, Buenos Aires City,
Argentina.
Phone: (54-11) 5510-4000
Fax.: (54-11) 5510-4040
E-mail: lcerutti@famiq.com.ar
Website: www.famiq.com.ar
President:
ESPARRICA CARLOS ALBERTO
Vice-president: ESPARRICA
JORGE ALBERTO
Alternate Director: FIRPO MARIA
OTILIA
USE OF SIGNATURE: PRESIDENT AND V.PRESIDENT
Subscribed and paid in common shares: $ 33.234.830.-
ESPARRICA CARLOS ALBERTO:
argentine, born in 28/10/1910, LE.No. 6.089.577 (CUIT No.20-06089577-8),
address at Mercedes 3150, Ciudad de Buenos Aires.
Based on data in our power, we can tell that this businesses were set in
motion by FAMIQ S.R.L. It worked without relevant changes until
5/10/1999, when it changed to FAMIQ S.A. adopting the present business type.
The holder is dedicated to the manufacture of stainless steel pipes and
accessories.
For assembly on 30/01/2012 and 13/02/2012 and 29/03/2013 has been resolved: the
transformation of Famiq SA in limited liability company. Date instrument of
transformation: public deed of 18/04/12. Previous Designation: SA Famiq
Designation adopted: Famiq S.R.L. Withdrawing partner: MARIO ROBERTO ESPARRICA.
Capital represents $ 7,765,167, being the capital will $ 33,234,830. -
General Balance as of 31/12/2011:
ASSETS:
------
Cash, investments,
Credits $
101.204.263
Inventories 149.924.160
ASSETS CURRENT
$ 251.128.423
ASSETS NON-CURRENT
$ 21.966.937
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TOTAL ASSETS
$ 273.095.360
=============
LIABILITIES:
------------
Debts commercials $ 129.228.184
Salaries and social charges 6.682.785
LIABILITIES CURRENT $
135.910.969
LIABILITIES NON-CURRENT $
1.570.356
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TOTAL LIABILITIES
$ 137.481.325
NET WORTH
$ 135.614.035
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TOTAL
$ 273.095.360
=============
NET SALES $ 407.000.429
COST OF SALES $ 281.757.265
GROSS PROFIT $ 125.243.164
NET UTILITY $
21.775.537
=============
The figures presented show economic-financial balance and obtaining a benefit
that is deemed compensatory.
So far the actions of the company shows no unfavorable alternatives and are
assigned stable outlook.
Based on the figures that have been left exposed, it was possible the obtaining
of the following indices:
WORKING CAPITAL $ + 115 217 454
CURRENT LIQUIDITY 1.85
DEBT 1.01
Solvency 0.99
TOTAL CAPITAL ADEQUACY 1.99
UTILITY S/SALES 5.4%
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Balance Sheet Analysis
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REAL ESTATE
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Av.San Martin 4751, Ciudad de Bs.As.
Blanco Encalada 1752, Florida, Bs.As.
Pte.J.A.Roca 903, Rafaela, Santa Fe
Rodriguez Peña 2175, Maipu, Prov.Bs.As.
Avellaneda 554, S.M.de Tucuman
Francia y Av.Juan D.Peron, Rosario
Av.San Martin 4791/99, Ciudad de Bs.AS.
VEHICLES
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Mitsubishi Seda 4 p model 97
Volkswagen Senda Diesel, mod.94
Chevrolet Corsa mod.98
Volkswagen Gold mod.98
Volkswagen Gold mod.99
Pick-Up Ford Ranger mod.02
Polo 1.9 mod.03
Renault Clio mod.99
5 cards VW suran model 2008
THE COMPANY IS DEDICATED TO THE MANUFACTURE
AND COMMERCIALIZATION OF PIPES AND ACCESSORIES OF STAINLESS STEEL.
IT ACCOUNTS WITH A GOOD INFRASTRUCTURE AND ORGANIZATION IN WHICH ITS DIRECTORS
PARTICIPATE IN JOINT FORM WITH THE NECESSARY PERSONNEL.
IT CARRIES OUT EXPORTS TO URUGUAY, PARAGUAY, BOLIVIA, CHILE, EQUATOR, COLOMBIA.
Imports done on the last twelve months were for the total amount of U$S
17.150.377 as follows:
TAIWAN 11.916.154
CHINA 11.916.154
GERMANY 550.728
OTHERS 1.231.277
THE IMPORTED PRODUCTS WERE LAMINATED PLANES OF STAINLESS STEEL, PIPES AND
HOLLOW BORDERS AND SIMILARS.
Main Suppliers:
---------------
MASTELLONE S.A.
ARCOR S.A.
SIDERAR S.A.
SIDERCA S.A.
* 152 Employees.
Warehouse: Av. San Martin 4723/51, Buenos
Aires City, Argentina.
Blanco Encalada 1752, Florida,Buenos Aires Province, Argentina.
Branches: Rafaela City (Santa Fe Province), San Miguel de Tucuman City (Tucuman
Province), Mendoza City (Mendoza Province).
ADVERTENCIA: Si en este registro no apareciera un Nro. de Doc. o CUIT,
debe tomarse como una simple referencia a verificar en el expediente para
descartar la existencia de personas con igual apellido y nombre/s o empresas
con igual razon social.
· 16/12/2011 - ORDINARIO JUZG 08
SEC 16 - ESPARRICA, MARIO ROBERTO
· 15/07/2011 - ORDINARIO JUZG 08
SEC 16 - ESPARRICA, MARIO ROBERTO
BANCO MACRO
BANCO PATAGONIA
BANCO DE GALICIA Y BUENOS AIRES
BANCO CIUDAD DE BS. AIRES
BANCO ITAU
BANCO CREDICOOP COOP.LTDO.
ICBC BANK
BANCO NACION
BANCO PCIA. BS.AS.
BANCO GALICIA
INSURANCE:
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PREVENCION S.A.
Credit Risk - July 2013
--------------------------
ITAU
ARG $ 11.906.200
BANCO MACRO 11.762.900
PCIA BS AS 11.732.000
BCO PATAGONIA 9.740.300
GALICIA 6.198.100
ICBC
5.426.200
BCO CIUDAD BS AS 4.113.900
BCO CREDICOOP 3.836.000
NACION
504.400
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TOTAL $ 65.220.000
Situation 1: Normal Fulfillment
UNTIL THE PRESENT THE COMPANY MAINTAINS A
CORRECT COMMERCIAL ATTENTION OF THE PAYMENTS AND IT IS WELL REFERRED IN
THE HABITUAL OPERATIVE MEANS.
* FULFILLMENT WITHOUT OBJECTIONS.
THE COMPANY IS VIABLE FOR NEW CREDITS WITHIN
SUMS IN ACCORDANCE TO ITS KNOWN RESOURCES.
* APT FOR NEW CREDITS
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.98.59 |
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Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.