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Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MAZU Y COMPAŅIA LIMITADA, ELIAS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1987 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
·
Factory of clothings. ·
Import and sale of fabrics |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRAs 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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high
level of foreign trade and a reputation for strong financial institutions and sound
policy that have given it the strongest sovereign bond rating in South America.
Exports account for approximately one-third of GDP, with commodities making up
some three-quarters of total exports. Copper alone provides 19% of government
revenue. From 2003 through 2012, real growth averaged almost 5% per year,
despite the slight contraction in 2009 that resulted from the global financial
crisis. Chile deepened its longstanding commitment to trade liberalization with
the signing of a free trade agreement with the US, which took effect on 1
January 2004. Chile has 22 trade agreements covering 60 countries including
agreements with the European Union, Mercosur, China, India, South Korea, and
Mexico. Chile has joined the United States and nine other countries in
negotiating the Trans-Pacific-Partnership trade agreement. In 2012, foreign
direct investment inflows reached $28.2 billion, an increase of 63% over the
previous record set in 2011. The Chilean Government has generally followed a
countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds
during periods of high copper prices and economic growth, and generally
allowing deficit spending only during periods of low copper prices and growth.
As of 31 December 2012, those sovereign wealth funds - kept mostly outside the
country and separate from Central Bank reserves - amounted to more than $20.9
billion. Chile used these funds to finance fiscal stimulus packages during the
2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming
the first South American country to join the OECD.
|
Source
: CIA |
MAZU Y COMPAŅIA LIMITADA,
ELIAS
Buenos Aires 354 - Recoleta
Santiago
XIII Region Metropolitana
CHILE
Telephone : 56-2-27359239,
56-2-27353462
Fax : 56-2-27353462
E_Mail :
sami_mazu@hotmail.com
Web Site :
www.emazu.cl
Postal Code : 8420363
SUMMARY
Started : 1987
Total
Employees : 50
Payments : Prompt
Capital
:
000's$ 12.000.-
Sic(s) : 5137
Line of Business : Factory of clothings. Import and sale of
fabrics.
Credit Recommendation
000's
Pesos 000's US$
dollars 000's Euros
Conservative value
:
48.750
96 73
Liberal value
:
53.625
105 80
If additional information is received or present information is rectified, this
recommendation may be modified.
Financial statements could
not be obtained, thus financial analysis can not be carried out
Commercial Bulletin : As at 03/09/2013 subject does not register protested checks, bank
drafts nor promissory
notes in the commercial information bulletin
Labor
Bulletin : As at 03/09/2013 does not register work
infringements
Previsional Bulletin :
As at 03/09/2013 does not register social security
infringements
Consolidated delinquency : As at 03/09/2013, subject does not register any
delinquent bill
Trade reference of the sole
supplier is detailed
Detail of References
Old
: Since 1998
Last purchase : 07-2013
Terms : cash
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 30.000
Owes : Does not
Register
Due : Does not
Register
Paying Comments: Good
Purchase Aver. : (Bi-monthly 000's$) 6.000
Cash purchases for discount purposes.
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit
Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1998 06-10 Prompt
invoice
30.000 None
Since 1998 02-09 Prompt
invoice
30.000 None
During the last 6 months, the account holder credit history shows 6 credit
review inquiries requested by telecommunications companies.
The account holder credit report reflects no delinquent payment history, no
protests, and no social security and/or work infringements as of the date of
this report.
International Risk and
Payment Review reported in June 2011
The local delays in payment average 0-1 month.
Subject operates with the
following banks:
- Banco de Chile
- Banco Santander Chile
Line of Business : Factory
of clothes. (Women and baby clothes, underwear, pajamas)
Classification according to commercial activity:
Sic: 5137-0000 Women's and children's
clothing
-0501 Baby goods
-0200 Women's and children's lingerie and undergarments
Commercializes:
- MAZUKID (NACIONAL)
- MOMMY-ME (CHINA)
Subject is considered as a medium company in this line of business, strong
competition
Sales are steady throughout
the year
100% wholesalers
National sales territory
Products are sold
National: 100%.
Sales conditions: 50% cash and 50% term payments to 30-60-90-120 days with
checks and bill of exchange.
Main customers are: Line of
business' distributors
Places orders with multiple
suppliers
National: 5%
International: 95%
Purchase conditions: 90% letter of
credit and 10% collection.
Imports from China, South Korea, Ecuador, India, Peru and Vietnam.
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
India
58,05 56,68
China
30,54 5,61
Ecuador
5,87 5,74
Vietnam
2,77 31,95
Peru
2,15 0,00
South
Korea
0,61 0,00
Total
2012 = 000's$ 1.266.486 Accumulated 2013 = 000's$ 672.694
Total 2009 = 000's$ 1.115.324
Total 2008 = 000's$ 1.890.096
Total 2006 = 000's$ 1.987.714
- Sociedad Industrial y
Comercial Pyma Limitada
Employees: 50 employees
- Offices located at
Buenos Aires 354 Recoleta Santiago, Chile, commercial
area, secondary street of slow traffic, construction in good
conditions
- Juarez 711,
Recoleta Santiago Chile
Subject is related with the
following company:
- Inmobiliaria Mazu S.A. T A X 76038446-1
Real estates
Subject does not register
real estates
It was informed that the property located at heading address and the branch
located at Juarez 711, belong to the main shareholder.
Vehicles
Declined information regarding vehicles
Machinery & Instalations
Own modern equipment
- Circular machines Machinery, total amount is US$1.000.000 approx.,
workshop ,
equipments , installations and other necessary elements .
Through
-Corredora de Seguros Marco Antonio Siraolo
Risks : Total
cover.
Objetive : Assets in general.
General Mgr. &
Partner : Elias Alberto Mazú Poza TAX:5220812-2
Legal
Structure :
Limited Liability Partnership
Constitution date :
20/05/1987. Registered on leaf 13.936 N° 8.891of Santiago Trade Register, year
1987.-
Notary
: Público,
Santiago
Term of duration :
5 Year automatically renewable for equal and successive periods
Legal Address : Santiago - Chile
Published in : Official Gazette dated 17/07/1987
page Nš 7
Current Social Capital: 000's$ 12.000.-
Social Initial Capital: 000's$ 12.000.-
Partner : 2
- 90,00% 5220812-2 Elias Alberto Mazú Poza
- 10,00% Bergerette De Ponson Du Terrail Schumacher
Power of attorney held by General Manager.
Legal changes
Public Deed dated 26/08/1991, notary Kamel Saquel Zaror, Santiago, published in
the Official Gazette dated 31/08/1991 page N° 19, statutes were modified: a new
text was stated indicating that the subject's business name is "Elias Mazú
y Cia. Ltda.", its legal address is the city of Santiago and its capital
amounts
to $12.000.000. Term of duration: 5 years, automatically extendable in equal
and successive periods.
Public Deed dated 03/10/1991, notary Kamel Saquel Zaror, Santiago, published in
the Official Gazette dated 10/10/1991 page N° 10, deed was rectified (prior
modification deed was corrected).
On 03/09/2013 Mr. Elias
Alberto Mazú Poza, General Mgr. & Partner, declined
financial figures, however, submitted the data shown in this report.
-Other outside information sources.
-As at 06/09/2013 $ 509,46
Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.21 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.85.21 |
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 |
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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 |
|
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 |
|
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NB |
New Business |
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This score serves as a reference to assess SCs 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.