MIRA INFORM REPORT

 

 

Report Date :

05.02.2014

 

IDENTIFICATION DETAILS

 

Name :

IMPORTADORA Y EXPORTADORA LEO LTDA.

 

 

Registered Office :

Manzana 9 Galpon 80, Iquique/I Región De Tarapacá

 

 

Country :

Chile

 

 

Date of Incorporation :

01.08.2001

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importer and Exporter of Textile Products.

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

Without Financials

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown 

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 – december 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Chile

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

IMPORTADORA Y EXPORTADORA LEO LTDA.

TRADE NAME

LEO LTDA.

TAXPAYER REGISTRATION

RUT 776447706

MAIN ADDRESS

Manzana 9 Galpon 80

DEPT/PROV/REGION/STATE

Iquique/I Región De Tarapacá

COUNTRY

CHILE

TELEPHONE

(5657) 576720 - 576721 -57-576722

CORPORATE E-MAIL

osvaldo.vivar@leosanjuan.cl  

WEB

www.leosanjuan.cl  

COMMENTS

 

 
Fax          : 56-57-576723
email:       juan.reyes@leosanjuan.cl 

 

 

EXECUTIVE SUMMARY

 

Date of foundation

2001

Capital stock

Ps$6,000,000.=

Chief Executive

REYES REYES, JUAN ESTEBAN

Disposition

Poor. Very few information was given. Politely.

Payments policy

Without rating (No payment experience traced)

Credit (**)

UNDETERMINED RISK.(Insufficient or Non existent information).

Number of times that this company was required: 2

 

 

LEGAL STRUCTURE

 

LEGAL STATUS

Limited Liability Company

 

 

DATE OF INCORPORATION

01AUG2001

 

 

PLACE OF REGISTRY

Iquique

 

 

NOTARY OFFICE

Francisco Yáber Lozano

 

 

INITIAL CAPITAL

Ps$6,000,000.=

 

 

CURRENT PAID-IN CAPITAL

Ps$6,000,000.=

 

 

CURRENT EXCHANGE RATE (US$)

Ps$471,40 per USD1.00

 

 

COMMENTS

 

 
 
Legal changes:
By public deed 01/02/2002 before notary Sergio Yáber  Simon of Iquique, published in the Official Gazette on 12/02/2002 Page No. 32, there was change of partner, Ana María Gómez Godoy assigns its rights of 1% to Uberlinda Rosa Reyes Baez, who joins the company and 49% to Juan Esteban Reyes Reyes, leaving as sole partners: Juan Esteban Reyes Reyes 99% and Uberlinda Rosa Reyes Baez 1%.

 

DIRECTORS

EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

REYES REYES, JUAN ESTEBAN

General Manager

99%

 

REYES BAEZ, UBERLINDA ROSA

Partner

1%

 

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

COSTA NORTE GROUP S.A.

CHILE

761602616

Related

IMPORT. Y EXPORT. SAN JUAN LTDA.

CHILE

76155090K

Related

 

 

BUSINESS

 

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

 

Main activity

 
Importer and Exporter of Textile Products.

OPERATIONS

Import

Yes

Country

China and India

Export

Yes

COUNTRY

Bolivia

% Ventas exterior (Paises)

100%

 

 

LOCATION

OTHER PREMISES

 
International
-  Sales premises at Av. Marisol Santa Cruz- Edificio La Primavera Block B Piso 
   10 Of. 7-phone 591-22353908 La Paz Bolivia 
 

Comments

 

 
The Subject is considered a large company in its field, the competition in the area is strong.
 
Wholesale 100% 
 
Its sales territory is international 
 
At the international level: 100%. 
 
Clients:
 
Its main clients are: foreign companies. 
 
The 2 most important customers are: 
 
International Customers:Paulino Monzon Condori Bolivia,  Carmen Monzon Condori Bolivia,

 

 

FINANCIAL INFORMATION

 

Disposition

Poor. Very few information was given. Politely.

Interviewee(s)

Juan Esteban Reyes Reyes

Position(s)

General Manager

Information provided

 
Who only provided operative data.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
UNDETERMINED
We estimate that Subject's financial Situation is INDETERMINATE, since we do not have financial statements that allow an accurate analysis of its results in its last financial year.
 
Note
 
The company is transferring all of its business operations to its related company Costa Norte Group S.A. 
 

Property of company comments

 

 
The investigated company does not register real estate under its name. 
 
The investigated company has no vehicles. 
 
Equipment and Facilities: 
 
-Equipment, warehouse, double electric pallet trucks and office facilities.

 

Main fixed assets of the company (general detail)

 

 
There are insurance, not including the name of the insurance company.
For Merchandise in transit and all risk, taken with different companies.

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

 

TRADE REFERENCES

Subject does not register local credit experiences since it carries out mainly importing activities.


CREDIT BUREAU COMMENTS

The subject figure published in the newsletter of Commercial Information, with protested documents .
Detail of Protests
 
 
Date: 14/03/2008
Document: Check
Value: $ 70,856.00
Newsletter: 0 Page: 0
Name drawer : Santander Chile
Location: Iquique
 
Date: 06/03/2008
Document: Check
Value: $ 339,859.00
Newsletter: 0 Page: 0
Name drawer : Santander Chile
Location: Iquique
 
Date: 22/02/2008
Document: Check
Value: $ 245,960.00
Newsletter: 0 Page: 0
Name drawer : Santander Chile
Location: Iquique
 
Labour Bulletin : At 28/01/2013 no of Labor Violations 
 
Pension Bulletin : Al 28/01/2013 no of social security Violations
 
Consolidated Delinquency : At 28/01/2013 , the person under investigation records
                           these bad debts
 
Detail of bad debts
 
Date: 07/06/2011
Document: Invoice
Value: $ 50,079.00
Drawer : Entel SA
Location: -
 
Date: 09/05/2011
Document: Invoice
Value: $ 50,467.00
Drawer : Entel SA
Location: -
 
Date: 10/03/2011
Document: Invoice
Value: $ 49,155.00
Drawer : Entel SA
Location: -
 
Date: 07/02/2011
Document: Invoice
Value: $ 50,642.00
Drawer : Entel SA
Location: -
 
Date: 08/07/2011
Document: Invoice
Value: $ 50,218.00
Drawer : Entel SA
Location: -
 
Date: 21/01/2011
Document: Invoice
Value: $ 89,365.00
Drawer : Entel SA
Location: -
 
Date: 07/01/2011
Document: Invoice
Value: $ 44,638.00
Drawer : Entel SA
Location: -
 
Date: 07/04/2011
Document: Invoice
Value: $ 49,725.00
Drawer : Entel SA
Location: -
In summary, the investigation records 15 bill worth $ 1,079,325
detailing the latest

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.68

UK Pound

1

Rs.101.98

Euro

1

Rs.84.78

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.