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Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
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Name : |
BORRACHAS E
EQUIPAMENTOS ELGI LTDA |
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Formerly Known As : |
TREADSDIRECT INDUSTRIA E COMERCIO DE ARTEFATOS DE BORRACHA LTDA. |
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Registered Office : |
Estrada Chiquito De Aquino,150 Galpao 01 – Mondesir, Zip Code
12601-000 - Lorena/Sp |
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Country : |
Brazil |
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Date of Incorporation : |
21.07.1989 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer of tires. |
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No of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Brazil |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
brazil ECONOMIC OVERVIEW
Characterized by large and well-developed
agricultural, mining, manufacturing, and service sectors, Brazil's economy
outweighs that of all other South American countries, and Brazil is expanding
its presence in world markets. Since 2003, Brazil has steadily improved its
macroeconomic stability, building up foreign reserves, and reducing its debt
profile by shifting its debt burden toward real denominated and domestically
held instruments. In 2008, Brazil became a net external creditor and two
ratings agencies awarded investment grade status to its debt. After strong
growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in
2008. Brazil experienced two quarters of recession, as global demand for
Brazil's commodity-based exports dwindled and external credit dried up.
However, Brazil was one of the first emerging markets to begin a recovery. In
2010, consumer and investor confidence revived and GDP growth reached 7.5%, the
highest growth rate in the past 25 years. Rising inflation led the authorities
to take measures to cool the economy; these actions and the deteriorating
international economic situation slowed growth in 2011-13. Unemployment is at
historic lows and Brazil's traditionally high level of income inequality has
declined for each of the last 14 years. Brazil's historically high interest
rates have made it an attractive destination for foreign investors. Large
capital inflows over the past several years have contributed to the
appreciation of the currency, hurting the competitiveness of Brazilian manufacturing
and leading the government to intervene in foreign exchange markets and raise
taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained
the previous administration's commitment to inflation targeting by the central
bank, a floating exchange rate, and fiscal restraint.
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Source : CIA |
BORRACHAS E
EQUIPAMENTOS ELGI LTDA
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MAIN ADDRESS: |
ESTRADA CHIQUITO DE AQUINO,150 GALPAO 01 - MONDESIR |
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ZIP CODE/CITY: |
12601-000 - LORENA/SP |
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PHONE: |
12 3152-2414 |
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FAX: |
12 3152-2414 |
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E-MAIL: |
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BRANCHES: |
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ADDRESS: |
RUA ROQUE ANTONIO GONCALVES,4390 |
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ZIP CODE/CITY: |
13232-080 CAMPO LIMPO PAULISTA/SP |
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MAIN ACTIVITIES: |
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MANUFACTURE OF TIRES. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
21/07/1989 |
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REGISTER DATE: |
16/08/1989 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
61.232.997/0001-08 |
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STATE REGISTER: |
420.034.970.118 |
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SHARE CAPITAL: |
R$ 10.005.000,00 |
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BOARD OF
DIRECTORS: |
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SUDARSAN VARADARAJ |
MANAGING PARTNER |
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THE MANAGING PARTNER ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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ELGI RUBBER INTERNACIONAL LIMITED |
R$ 10.004.999,00 |
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SUDARSAN VARADARAJ |
R$ 1,00 |
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AFFILIATES /
SUBSIDIARIES: |
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A SCAN THROUGH OUTSIDE
SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING
UNCONFIRMED HOLDINGS: |
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ELGI RUBBER COMPANY LIMITED |
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MCKINNON INDUSTRIA E COMERCIO
DE MAQUINAS AGRICOLAS LTDA |
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THE SUBJECT WAS ESTABLISHED ON JULY 21, 1989 TO BE ENGAGED IN THE SAID
LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL
SCENE REPORTED HEREIN. PREVIOUS NAMES: TREADSDIRECT INDUSTRIA E COMERCIO DE ARTEFATOS DE BORRACHA LTDA. ELGITREAD DO BRASIL INDUSTRIA E COMERCIO DE ARTEFATOS DE BORRACHA
LTDA. CAMEL INDUSTRIA DE ARTEFATOS DE BORRACHA LTDA. ON AUGUST 05, 2013 THE COMPANY TOOK OVER ELGI DO BRASIL INDUSTRIA E
COMERCIO DE BORRACHA LTDA, CNPJ 03.916.661/0001-50. PARTNERS: ELGI RUBBER INTERNACIONAL LIMITED: NOT AVA ILABLE. SUDARSAN VARADARAJ, INDIAN, HOLDER OF DOCUMENTS CPF: 228.500.918-63,
RG/RNE: V339485P, RESIDENTIAL ADDRESS AT ESTRADA CHIQUITO DE AQUINO, 150,
MONDESIR, LORENA - SP. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. ROSANA, FINANCIAL
DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION
UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF
THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER
INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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PUBLIC INFORMATION: |
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NO DETRIMENTAL FILES WERE FOUND. |
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DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE
SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED
TO PROVIDE ANY KIND OF FINANCIAL INFORMATION. OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY.
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EXCHANGE RATE: |
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US$ 1,00 = R$ 2,24 |
- OFFICIAL RATE
ON 22/04/2014 |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
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IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT
THE SUBJECT'S CURRENT FINANCIAL STANDING. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
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NOT AVAILABLE. |
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NOT AVAILABLE. |
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REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION
WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NOT RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
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MANUFACTURE OF TIRES. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
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NOT AVAILABLE. |
EXPORTS TO:
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NOT AVAILABLE. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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NOT AVAILABLE. |
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STAFF: |
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THE COMPANY HAS: 35 EMPLOYEE(S) |
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THE SUBJECT WAS ESTABLISHED IN 1989. SO FAR IT HAS A CLEAR TRADE
HISTORY AND SATISFACTORY PAYMENT BEHAVIOUR. THE COMPANY HAS TRADE RELATIONS WITH SOME SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. |
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MAIN SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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NORGREN LTDA |
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NOT AVAILABLE. |
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SALUTE ND. PAPELAO ONDULADO LTDA |
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SPARTAN DO BRASIL PROD.. QUIMICOS LTDA |
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PAYMENT HISTORY: |
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3 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 1.883.356,00 |
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AMOUNT OF INVOICES PAID: 213 |
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TOTAL OF PROMPT PAYMENTS: 61,1% |
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TOTAL OF DELAYED PAYMENTS: 38,9% |
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HIGHEST INVOICE: R$ 24.930,00 |
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HIGHEST CREDIT: R$ 235.430,00 |
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BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR
NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY
SECURED TERMS ONLY DUE TO THE ABSENCE OF FINANCIAL DATA. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
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UK Pound |
1 |
Rs.102.71 |
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Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.