|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PROMOTORA INTERNACIONAL DE PARTES SAS |
|
|
|
|
Registered Office : |
Complejo Logistico Industrial Siberia Bodega 11 y 12 a 150 metros de la Glorieta de Siberia Via Cota |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.08.1983 |
|
|
|
|
Com. Reg. No.: |
195770 |
|
|
|
|
Legal Form : |
Simplified Stock Company |
|
|
|
|
Line of Business : |
Import and commercialization of filters, oils, lubricants,
accessories, coolants for vehicles. |
|
|
|
|
No. of Employees : |
80 |
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 |
|
Payment Behaviour : |
No complaints |
|
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) |
|
Colombia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COLOMBIA - ECONOMIC OVERVIEW
Colombia's consistently sound economic policies and
aggressive promotion of free trade agreements in recent years have bolstered
its ability to face external shocks. Real GDP has grown more than 4% per year for
the past three years, continuing almost a decade of strong economic
performance. All three major ratings agencies have upgraded Colombia's
government debt to investment grade. Nevertheless, Colombia depends heavily on
oil exports, making it vulnerable to a drop in oil prices. Economic development
is stymied by inadequate infrastructure, weakened further by recent flooding.
Moreover, the unemployment rate of 10.3% in 2012 is still one of Latin
America's highest. The SANTOS Administration's foreign policy has focused on
bolstering Colombia's commercial ties and boosting investment at home. The
US-Colombia Free Trade Agreement (FTA) was ratified by the US Congress in
October 2011 and implemented in 2012. Colombia has signed or is negotiating
FTAs with a number of other countries, including Canada, Chile, Mexico,
Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, China, Costa Rica,
Panama, and Israel. Foreign direct investment - notably in the oil and gas
sectors - reached a record $10 billion in 2008 but dropped to $7.2 billion in
2009, before beginning to recover in 2010, and reached a record high of nearly
$16 billion in 2012. Colombia is the third largest Latin American exporter of
oil to the United States, and the United States' largest source of imported
coal. Inequality, underemployment, and narcotrafficking remain significant
challenges, and Colombia's infrastructure requires major improvements to
sustain economic expansion
Source
: CIA
|
IDENTIFICATION |
|
|
COMPANY NAME |
PROMOTORA INTERNACIONAL DE PARTES SAS |
|
TRADE NAME |
PROPARTES SAS |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
860350170-5 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Complejo Logistico Industrial Siberia Bodega 11 y 12 a 150 metros de la Glorieta de Siberia Via Cota |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE NUMBER(S) |
(57-1)896.6363 |
|
FAX NUMBER |
(57-1)876.7060 |
|
|
rsalamanca@propartes.com |
|
WEB SITE |
www.propartes.com |
|
COMMENTS OF IDENTIFICATION.- |
The present report was ordered with address: Complejo Logistico e Industrial Siberia 11,150 DE LA Glotirta De Siberia Via Cota, Bogota Colombia. Please be advised that the correct and complete form of this address is as shown in the heading. |
|
BOARD OF
DIRECTORS-EXECUTIVES |
||
|
NAME |
JOB TITLE |
% STAKE |
|
ROA MARQUEZ, CATALINA XIMENA |
Director/Alternate Legal Rep. |
4% |
|
FRANCO, SANCHEZ, JORGE LUIS |
General Manager/Legal Rep. |
96% |
|
DIAZ, NELSON |
Commercial Manager |
|
|
RODRIGUEZ, DORIS |
Administration Manager |
|
|
TRUJILLO BELTRAN, OLGA LILIANA |
Accountant |
|
|
GONZALEZ POVEDA, ANDREA |
Tax Reviser |
|
|
RODRIGUEZ ARDILA, ELIANA |
Alternate Tax Reviser |
|
No negative information found
|
PAID-UP CAPITAL |
Ps$400,000,000.00 Colombian Pesos |
|
LAST CAPITAL INCREASE |
Latest known |
|
PAYMENT HISTORY |
EP. A: PAYMENTS USUALLY PROMPT |
|
% CASH SALES/PAYMENT METHOD |
40% |
|
% CREDIT SALES/TERMS |
60% (terms at 30 - 60 days) |
|
TERRITORY OF SALES |
99% (Domestic market) |
|
% FOREIGN SALES |
1% |
|
% LOCAL PURCHASING |
5% |
|
% FOREIGN PURCHASING |
95% |
|
IMPORTS |
|
|
YEAR |
2013 (January - May) |
|
AMOUNT |
US$ 628,391.01 |
|
COUNTRIES |
USA, Belgium, Brazil, China, Germany, UK |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 4,961,003.25 |
|
COUNTRIES |
USA, China, UK, Brazil, Germany, Korea, Spain, Thailand, Taiwan |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 6,350,458.31 |
|
COUNTRIES |
USA, Brazil, Mexico |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 4,016,092.53 |
|
COUNTRIES |
USA, Brazil |
|
EXPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 42,963.94 |
|
COUNTRIES |
Ecuador |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 51,638.00 |
|
COUNTRIES |
Ecuador |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 51,638.00 |
|
COUNTRIES |
Ecuador |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
ACCOUNT OPENED |
More than 9 years ago |
|
CREDIT FACILITIES |
Ps$100,000,000.00 Pesos |
|
DEADLINES |
Invoice at 30 days |
|
PRODUCTS SOLD |
Wheels |
|
RATING |
PROMPT |
|
COMMENTS.- |
Good client. |
|
|
|
|
CREDIT FILES |
|
|
Other local suppliers consulted do not furnish information for consider it as confidential. |
|
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
INDUSTRIA COLOMBIANA DE LLANTAS SA |
Jaime Rivera |
(57-2)898.0100 |
|
INNOVATEQ LTDA |
Angela Delgado |
(57-1)421.7288/637.4683 |
|
INDUSTRIA COLOMBIANA DE FILTROS SA |
|
(57-1)566.3618/566.3692 |
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
TOTAL MEXICO SA DE CV |
|
|
MEXICO |
|
MANNTHUMMEL BRASIL LTDA |
|
|
BRAZIL |
|
FILTERMASTERCO LTD |
|
|
U.S.A. |
|
EBC BRAKES USA INC |
|
|
U.S.A. |
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
The present report has been totally elaborated through outside sources since it was not possible to have an interview with any of the subject's main executives. Through outside sources, we obtained the General Balance Sheets ended as of 31/12/2012 and 31/12/2011 (12 months, each), expressed in Colombian Pesos, whose figures read as follows: |
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
15,620,281,000.00 |
15,816,692,000.00 |
-1.24 |
|
.Net Fixed |
5,357,567,000.00 |
5,662,033,000.00 |
-5.38 |
|
.Total Assets |
20,977,848,000.00 |
21,478,725,000.00 |
-2.33 |
|
.Total Current Liabilities |
12,600,924,000.00 |
12,722,870,000.00 |
-0.96 |
|
.Long Term Accounts |
1,737,252,000.00 |
2,354,690,000.00 |
-26.22 |
|
Total Liabilities |
14,338,176,000.00 |
15,077,560,000.00 |
-4.90 |
|
Total Equity |
6,639,672,000.00 |
6,401,165,000.00 |
3.73 |
|
Total Liabilities and Equity |
20,977,848,000.00 |
21,478,725,000.00 |
-2.33 |
|
PROFIT AND LOSS ACCOUNT |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
20,039,165,000.00 |
23,403,926,000.00 |
-14.38 |
|
Profit(loss) |
707,435,000.00 |
1,328,758,000.00 |
-46.76 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
3,019,357,000.00 |
3,093,822,000.00 |
-0.02 |
|
.CREDIT RATING |
1.24 |
1.24 |
0.00 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
1.46 |
1.42 |
0.03 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
0.96 |
1.09 |
-0.12 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
The subject is a trading firm established in 1983, which seems to be operating normally, without detrimental documents against. COUNTRY CONTEXT - COLOMBIA: The below Country comments were obtained from a highly regarded public source that issues economic comments on all of World` s countries. Taxes: · Colombian income tax: 38.5% on the net profit-business:. · Tax agreements with the Andean Community and Spain which allow residents in this countries to have a special tax treatment. · Alphabetic currency code for every country, established by the International Organization for Standardization (ISO) 4217: Colombian Peso (COP) Main economic indicators: · External debt: US $73.41 billion (31 December 2012 est.) · International reserves: US$34.74 billion (31 December 2012 est.) · Inflation rate forecasted: 3.2% (2012 est.) · GDP growth rate: 4.3% (2012 est.) · Annual GDP per capita: US$10,700 (2012 est.) · GDP - composition by sector: agriculture: 6.8% industry: 38.1% services: 55.1% (2012 est.) · Labour force of 23.08 million people divided by: agriculture: 18% industry: 13% services: 68% · Unemployment rate: 10.3% (2012 est.) Productive sectors: Agriculture - products: coffee, cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables; shrimp; forest products · Industrial- products: textiles, food processing, oil, clothing and footwear, beverages, chemicals, cement; gold, coal, emeralds Foreign trade: Exports: US$59.96 billion (2012 est.) country comparison to the world: 55 Exports - commodities: petroleum, coal, emeralds, coffee, nickel, cut flowers, bananas, apparel Exports - partners: US 42%, Netherlands 4.7%, China 4.2% (2011) Imports: US$55.49 billion (2012 est.) country comparison to the world: 54 Imports - commodities: industrial equipment, transportation equipment, consumer goods, chemicals, paper products, fuels, electricity Imports - partners: US 29.2%, China 11.9%, Mexico 11.5%, Brazil 5.3% (2011) Final brief: Commercial Country Risk: MEDIUM Political Country Risk: LOW |
|
RATE OF EXCHANGE |
US$1.00 = Ps$1,935.00 (as of report date) |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Simplified Stock Company |
|
INCORPORATION DATE |
26/08/1983 |
|
REGISTERED IN |
Bogota |
|
DURATION |
Unlimited |
|
REGISTRATION |
Cert.195770 |
|
NET WORTH |
Ps$6,639,672,000.00 Colombian Pesos (31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
BACKGROUND (HISTORY).- |
|
|
The subject began its operations as PROMOTORA INTERNACIONAL DE PARTES LTDA then by Shareholders meeting was agree the changed of Legal Status to the current PROMOTORA INTERNACIONAL DE PARTES SAS. |
|
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
AUTOMOTIVE SECTOR/ VEHICLES |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
MAIN ACTIVITY |
Import and commercialization of filters, oils, lubricants, accessories, coolants for vehicles. |
|
N. OF EMPLOYEES |
80 |
|
LOCATION |
|
ADMINISTRATIVE OFFICES: This premises was acquired per Leasing for 5 years with Bancolombia to HELM BANK SA and pay an amount of Ps$40,000,000.00 Pesos monthly and it is located in an industrial zone. It has three story building. PRIOR ADDRESS: - Carrera 23 No. 166-22, Toberin, Bogota de Colombia. POINTS OF SALES and WAREHOUSES: - Carrera 46 No.129-31, Bogota. Rented premises. - Carrera 64 No.28-13, Bogota. Rented premises. |
|
COMMENTS OF
OPERATIONS.- |
|
The subject is representative of the following brands: ELF, TOTAL,MANN FILTEA, K&N, FILTERS, PURFLUX, TECNOCAR, FRAM, PROLUBE, BERU, SPLITFIRE,PEAK, PETROCHEMICAL, BILSTEIN, KON, AKEBONO, EBC, BRAKES, PAGID, PEXBOX,WEATHERTECH. The subject has certification ISO:9001:2000 |
|
BANKERS / REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCOLOMBIA SA |
0400350170-02 |
|
|
COLOMBIA |
|
HELM BANK SA |
014385348 CRT |
|
|
COLOMBIA |
|
BANCO DAVIVIENDA SA |
|
|
|
COLOMBIA |
|
BANCO COLPATRIA MULTIBANCA COLPATRIA SA |
|
|
|
COLOMBIA |
|
BANCO DE OCCIDENTE SA |
|
|
|
COLOMBIA |
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BANK COMENTS |
||||
|
Consulted banks do not reveal any information on clients due to bank secrecy. |
||||
|
OPINION ON CREDIT FIGURE OF: EUR.60,000.00 Euros COMMENT: Trading firm established in year 1983 which seems to be operating normally. It holds good equity back up, working capital and an adequate solvency. Besides, it counts with positive trading references. Hence, we consider it is suitable to assume the proposed credit figure. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.