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Report Date : |
29.04.2014
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IDENTIFICATION DETAILS
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Name : |
FERRETERIA LA COLIMA SA |
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Registered Office : |
3a Avenida 6-68 Zona 4 |
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Country : |
Guatemala |
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Date of Incorporation : |
12.05.2006 |
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Legal Form : |
Stock Company |
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Line of Business : |
Subject is engaged in the importation, commercialization,
and distribution of equipment, tools, and hardware in general |
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No. of Employees |
15 |
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 : |
Slow but correct |
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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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Guatemala |
B1 |
B1 |
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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 |
GUATEMALA ECONOMIC OVERVIEW
Guatemala is the most populous country in Central America with a GDP per capita roughly one-half that of the average for Latin America and the Caribbean. The agricultural sector accounts for 13.5% of GDP and 38% of the labor force; key agricultural exports include coffee, sugar, bananas, and vegetables. The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and since then Guatemala has pursued important reforms and macroeconomic stabilization. The Dominican Republic-Central American Free Trade Agreement (CAFTA-DR) entered into force in July 2006 spurring increased investment and diversification of exports, with the largest increases in ethanol and non-traditional agricultural exports. While CAFTA-DR has helped improve the investment climate, concerns over security, the lack of skilled workers and poor infrastructure continue to hamper foreign direct investment. The distribution of income remains highly unequal with the richest 20% of the population accounting for more than 51% of Guatemala's overall consumption. More than half of the population is below the national poverty line and 13% of the population lives in extreme poverty. Poverty among indigenous groups, which make up about 40% of the population, averages 73% and extreme poverty rises to 28%. Nearly one-half of Guatemala's children under age five are chronically malnourished, one of the highest malnutrition rates in the world. Given Guatemala's large expatriate community in the United States, it is the top remittance recipient in Central America, with inflows serving as a primary source of foreign income equivalent to nearly two-fifths of exports or one-tenth of GDP
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Source
: CIA |
IDENTIFICATION
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COMPANY NAME |
FERRETERIA LA COLIMA SA |
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TRADE NAME |
FERRETERIA LA COLIMA |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
4679903-6 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
3a Avenida 6-68 Zona 4 |
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CITY/PROVINCE/STATE |
Guatemala |
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PHONE NUMBER (S) |
(502) 2332.6567 |
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FAX NUMBER |
(502) 2332.1611 |
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lacolima@itelgua.com |
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lacolima@hotmail.com |
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CR-RATING |
LOW RISK |
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PAYMENT HISTORY |
WITHOUT CREDIT EXPERIENCE |
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COMMENTS OF IDENTIFICATION.- |
No web-site happens to be found. This report was ordered with address: 3a Avenida 6-68 Zona 4, Guatemala, Ciudad de Guatemala, C.A. Nit. 4679903-6; which is incorrect. Please notice that the correct address of subject is as shown in caption. |
LEGAL
ASPECTS
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
12/05/2006 |
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REGISTERED IN |
Guatemala |
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DURATION |
Unlimited |
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REGISTRATION |
Deed No.161 |
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INITIAL CAPITAL |
Q.5,000.00 Quetzales |
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PAID-UP CAPITAL |
Q.5,000.00 Quetzales |
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LAST CAPITAL INCREASE |
No capital increase |
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LISTED AT STOCK EXCHANGE |
NO |
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COMMENTS ON LEGAL
ASPECTS .- |
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Pertinent registration data was not directly provided by the subject. Subject has been entered into the Purchasing and Contracting System of Guatemala. A 50% of the remaining shares is controlled by unknown minority shareholders. |
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BOARD OF DIRECTORS-EXECUTIVES |
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NAME |
JOB TITLE |
% STAKE |
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BRIZ SANTOS, FERNANDO |
General Manager |
50% |
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FIGUEROA, ALMA AMERICA CHETE DAVILA DE |
Legal Representative |
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LITIGATIONS |
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Subject registers no protested documents compromising the performance of its operations. |
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SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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BRIZ SANTOS, FERNANDO |
General Manager |
50% |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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DISTRIBUIDORA Y FERRETERIA ASTURIAS SA |
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(502) 2327.0000 |
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FOREIGN SUPPLIERS |
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Name |
Contact |
Telephone/fax |
Country |
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JAHO ENTERPRISE LTD. |
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CHINA |
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CAMPBELL INTERNATIONAL LTD |
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INDIA |
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YANGJIANG A & A FACTORY |
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CHINA |
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ASSA ABLOY ITALIA SPA |
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ITALY |
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VILCO
INTERNACIONAL SA |
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(507) 441.7198 |
PANAMA |
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YANTAI FENGKAI METALS wMINERALS & MACHINERY CO. LTD. |
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KOREA |
N/a
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FINANCIAL INFORMATION |
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CONTENT.- |
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During this investigation, we interviewed Miss Alma America Chete Davila de Figueroa (Legal Representative) who provided just commercial information on the subject except for the financial figures as she was not authorized to disclose such data. The subject is a trading firm in business since 2006 which has been operating normally. It is reported the following award of tender with the State: 2012 Amount Q/. 75,905.00 Quetzales COUNTRY CONTEXT - GUATEMALA: The below information has been obtained from a highly regarded public source that issues comments on all of worlds? countries. Taxes: · Guatemalan income tax: 5% on the net profit-business: · Alphabetic currency code for every country by the International Organization for Standardization (ISO) 4217:Quetzal (GTQ). Main economic indicators: · External debt: US$17.67 billion (31 December 2013 est.) · International net reserves: US $7.118 billion (31 December 2013 est.) · Inflation rate : 4.4% (2013 est.) · GDP real growth rate: 3.3% (2013 est.) · Annual GDP per capita: US$5,300 (2013 est.) GDP - composition, by sector of origin: agriculture: 13.5% industry: 23.8% services: 62.7% (2013 est.) · Labour force of 4.465 million people (2013 est.) divided by: agriculture: 38% industry: 14% services: 48% Unemployment rate: 4.1% (2011 est.) (last available) Productivity sectors: Agriculture - products: sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens Industries: sugar, textiles and clothing, furniture, chemicals, petroleum, metals, rubber, tourism Foreign trade: Exports: US$10.29 billion (2013 est.) country comparison to the world: 93 US$10.11 billion (2012 est.) Exports - commodities: coffee, sugar, petroleum, apparel, bananas, fruits and vegetables, cardamom Exports - partners: US 40.2%, El Salvador 11.1%, Honduras 8%, Mexico 5.5%, Nicaragua 4.7%, Costa Rica 4.3% Imports: US$16.7 billion (2013 est.) country comparison to the world: 83 US$15.84 billion (2012 est.) Imports - commodities: fuels, machinery and transport equipment, construction materials, grain, fertilizers, electricity, mineral products, chemical products, plastic materials and products Imports - partners: US 38%, Mexico 11.3%, China 7.4%, El Salvador 4.6% Country risks: Commercial Country Risk: MEDIUM Political Country Risk: LOW |
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DETAILS OF FIXED ASSETS.- |
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As of 18/04/2012, subject reports machinery and equipment, office furniture and fittings, 1 truck, tools among other fixed assets. |
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INSURANCE.- |
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Subject holds an insurance policy against all-risk with an insurance company whose name has not been reported. Annual renewal valid until 12/2014. (No coverage amount was disclosed). |
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CREDIT FILES |
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The consulted supplier just confirmed subject as client without disclosing further details. The 90% of its purchases is conducted from abroad. |
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RATE OF EXCHANGE |
US$1.00 = Q.7.75 as of report date |
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BACKGROUND (HISTORY).- |
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On 12/05/2006 the subject was established by Deed No. 161. On 22/05/2006 it was temporarily registered at the Mercantile Registry of Guatemala. On 13/06/2006 it was definitely registered at the Mercantile Registry of Guatemala. On 22/05/2006 it was registered at the Superintendency of Tax Administration (SAT). |
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OPERATIONS |
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SECTOR |
2.-TRADE (WHOLESALE) |
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ACTIVITY |
EQUIPMENT & IMPLEMENTS |
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ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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MAIN ACTIVITY |
Subject is engaged in the importation, commercialization, and distribution of equipment, tools, and hardware in general. Third parties' brands: "JAHO", "CAMPBELL", "JUSTY", "ASSA", "VILCO", "BEYOTA" among others. |
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% CASH SALES/PAYMENT METHOD |
100% |
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TERRITORY OF SALES |
100% (Domestic market) |
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% LOCAL PURCHASING |
10% |
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% FOREIGN PURCHASING |
90% |
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N. OF EMPLOYEES |
15 employees |
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LOCATION |
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ADMINISTRATIVE OFFICES, BUSINESS PREMISE: Located at the address shown in caption. It is a single-story building with land area of 100 sq.m., located in a commercial zone of the city with easy access routes. Own premises are in good repair. |
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COMMENTS OF OPERATIONS.- |
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Subject imports from China, Vietnam, Italy, India, Japan, and Korea. It has 20 active clients approximately. Sales are made 100% directly. Its clients are general public. |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO DE AMERICA CENTRAL, S.A. |
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GUATEMALA |
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BANCO CITIBANK
DE GUATEMALA, S.A. |
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GUATEMALA |
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BANK COMENTS |
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Consulted banks did not provide any information about their clients as per bank secrecy. |
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N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.50 |
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|
1 |
Rs.101.69 |
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Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.