|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KLEY HERTZ S/A INDÚSTRIA E COMÉRCIO |
|
|
|
|
Registered Office : |
Rua Comendador Azevedo,224 - Bairro Floresta 90220-150 - Porto
Alegre/Rs |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.04.1947 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacture of Pharmaceuticals |
|
|
|
|
No of Employees : |
500 |
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 |
|
Maximum Credit Limit : |
US$ 1.000.000,00 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
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Litigation : |
Exist |
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) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 to 2.7% in 2011,
and 1.3% in 2012. 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. In an effort to boost growth, in 2012 the
administration implemented a somewhat more expansionary monetary policy that
has failed to stimulate much growth.
|
Source
: CIA |
KLEY HERTZ S/A
INDÚSTRIA E COMÉRCIO
|
MAIN ADDRESS: |
RUA COMENDADOR AZEVEDO,224 - BAIRRO FLORESTA |
|
ZIP CODE/CITY: |
90220-150 - PORTO ALEGRE/RS |
|
|
|
|
PHONE: |
51 3346-8488 |
|
FAX: |
51 3346-8488 |
|
E-MAIL: |
cfarias@kleyhertz.com.br |
|
WEB SITE: |
www.kleyhertz.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA SANTA MÔNICA,1701 - BAIRRO INDUSTRIAL SÃO JOSE |
|
ZIP CODE/CITY: |
06715-865 COTIA/SP |
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF PHARMACEUTICALS. |
|
LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
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INCORPORATION DATE: |
10/04/1947 |
|
REGISTER DATE: |
10/04/1947 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
92.695.691/0001-03 |
|
STATE REGISTER: |
096/0027084 |
|
|
|
|
SHARE CAPITAL: |
R$ 38.983.350,00 |
|
LAST REGISTER OF CAPITAL: |
24/06/2010 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
ARTHUR LEITE HERTZ |
EXECUTIVE DIRECTOR |
|
ISABEL LEITE HERTZ |
EXECUTIVE DIRECTOR |
|
GERALDO LEITE HERTZ |
EXECUTIVE DIRECTOR |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
ISABEL LEITE HERTZ |
33,4% |
|
GERALDO LEITE HERTZ |
33,3% |
|
ARTHUR LEITE HERTZ |
33,3% |
|
AFFILIATES /
SUBSIDIARIES |
|
|
|
|
|
A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS
THE FOLLOWING UNCONFIRMED HOLDINGS: |
|
|
|
|
|
HERTZ ADMINISTRAÇÃO E PARTICIPAÇÕES S/A |
|
|
HERTZ SUDESTE DISTRIBUIDORA DE MEDICAMENTOS LTDA |
|
THE SUBJECT WAS ESTABLISHED ON APRIL 10, 1947 AS KLEY HERTZ & CIA., TO
BE ENGAGED IN THE SAID LINE OF BUSINESS. ON NOVEMBER 21, 1969 IT ALTERED TO
ABOVE-MENTIONED NAME.
IN APRIL 2003 THE SUBJECT TOOK OVER THE COMPANY LABORATÓRIOS GALENOGAL
LTDA., CNPJ 90.455.262/0001-33 AND IN NOVEMBER 2004 TOOK OVER THE COMPANY HERTZ
SUL DISTRIBUIDORA LTDA., CNPJ 05.117.215/0001, SUCCEEDING THESE COMPANIES IN
ALL THEIR RIGHTS, DUTIES AND LIABILITIES.
BUSINESS ADDRESS HAS CHANGED FROM (RUA COMENDADOR AZEVEDO, N°. 133,
PORTO ALEGRE/RS) TO THE PRESENT REGISTERED ONE.
DIRECTORS:
GERALDO LEITE HERTZ: BRAZILIAN, SINGLE, ENTREPRENEUR, HOLDER OF
DOCUMENTS RG 1040237149 SSP/RS AND CPF 804.889.000-34, RESIDENTIAL ADDRESS AT
RUA COMENDADOR AZEVEDO, 224, PORTO ALEGRE/RS;
ISABEL LEITE HERTZ: BRAZILIAN, DIVORCED, ENTREPRENEUR, HOLDER OF
DOCUMENTS RG 3025605035 SSP/RS AND CPF 511.018.900-53, RESIDENTIAL ADDRESS AT
RUA COMENDADOR AZEVEDO, 224, PORTO ALEGRE/RS;
GERALDO LEITE HERTZ: BRAZILIAN, SINGLE, ENTREPRENEUR, HOLDER OF
DOCUMENTS RG 7025605051 SSP/RS AND CPF 518.368.470-20, RESIDENTIAL ADDRESS AT RUA
COMENDADOR AZEVEDO, 224, PORTO ALEGRE/RS.
FURTHER DETAILS ARE SO FAR NOT KNOWN.
|
PROTESTS: |
|
3 PROTESTS,TOTAL AMOUNT R$
21.422,00 |
|
DETAILS OF PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
1º CARTÓRIO DE PORTO ALEGRE/RS |
20/01/2014 |
R$ 6.300,00 |
|
1º CARTÓRIO DE PORTO ALEGRE/RS |
20/01/2014 |
R$ 11.250,00 |
|
3º CARTÓRIO DE PORTO ALEGRE/RS |
02/12/2013 |
R$ 3.872,00 |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
STATE LAWSUIT |
12/11/13 |
2ª VARA DE BELO HORIZONTE/MG |
|
GENERAL BALANCE SHEETS AS OF 31/12/2012 AND 31/12/2011. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
|
|
|
|
|
|
|
CASH AND BANKS |
287 |
333 |
|
|
CLIENTS |
7.914 |
13.328 |
|
|
INVENTORY |
12.865 |
11.563 |
|
|
RECOVERABLE TAXES |
1.529 |
515 |
|
|
INTERESTS ON OWN CAPITAL |
12.137 |
8.005 |
|
|
OTHER CREDITS |
673 |
811 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
35.405 |
34.555 |
|
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
DEFERRED TAXES |
222 |
1.649 |
|
|
OTHER CREDITS |
80 |
108 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL LONG-TERM RECEIVABLES |
302 |
1.757 |
|
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
23.838 |
16.291 |
|
|
FIXED ASSETS |
15.906 |
13.187 |
|
|
INTANGIBLE |
547 |
669 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL FIXED ASSETS |
40.291 |
30.147 |
|
|
|
================ |
================ |
|
|
TOTAL ASSETS |
75.998 |
66.459 |
|
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
|
|
|
|
|
|
|
LOANS AND FINANCING |
1.677 |
1.585 |
|
|
SUPPLIERS |
3.995 |
2.652 |
|
|
TRIBUTARY OBLIGATIONS |
4.104 |
3.337 |
|
|
LABOR PROVISIONS |
1.337 |
1.042 |
|
|
INCOME TAX/SOCIAL CONTRIBUTION |
|
12 |
|
|
OTHER |
398 |
352 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
11.511 |
8.980 |
|
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
3.706 |
1.364 |
|
|
PROVISIONS |
648 |
566 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
4.354 |
1.930 |
|
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
38.983 |
24.983 |
|
|
PROFIT RESERVES |
21.150 |
30.566 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL NET EQUITY |
60.133 |
55.549 |
|
|
|
================ |
================ |
|
|
TOTAL LIABILITIES |
75.998 |
66.459 |
|
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012 AND 31/12/2011. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2012 |
31/12/2011 |
|
|
|
|
|
|
|
GROSS SALES |
78.684 |
79.092 |
|
|
(-) TAXES ON SALES |
21.934 |
22.287 |
|
|
|
---------------- |
---------------- |
|
|
NET SALES |
56.750 |
56.805 |
|
|
(-) COST OF SOLD GOODS |
31.632 |
31.540 |
|
|
|
---------------- |
---------------- |
|
|
GROSS PROFIT |
25.118 |
25.265 |
|
|
OPERATING REVENUE (EXPENSE) |
-11.755 |
-3.351 |
|
|
FINANCIAL REVENUE(EXPENSE) |
323 |
-756 |
|
|
|
---------------- |
---------------- |
|
|
OPERATIONAL PROFIT (LOSS) |
13.686 |
21.158 |
|
|
CONTRIBUTION/INCOME TAX |
-1.427 |
121 |
|
|
|
---------------- |
---------------- |
|
|
NET PROFIT (LOSS) |
12.259 |
21.279 |
|
|
RATIOS: |
31/12/2012 |
31/12/2011 |
|
|
QUICK RATIO |
1,96 |
|
2,56 |
|
|
|
|
CURRENT RATIO |
3,08 |
|
3,85 |
|
|
|
|
ACCOUNTS RECEIVABLE TURNOVER |
7,17 |
TIMES |
4,26 |
TIMES |
|
|
|
DAYS' SALES IN RECEIVABLES |
50,20 |
DAYS |
84,47 |
DAYS |
|
|
|
INVENTORY TURNOVER |
2,46 |
TIMES |
2,73 |
TIMES |
|
|
|
ACCOUNTS PAYABLE PERIOD |
45,47 |
DAYS |
30,27 |
DAYS |
|
|
|
RETURN ON ASSETS |
,75 |
TIMES |
,85 |
TIMES |
|
|
|
SALES TURNOVER ON NET EQUITY |
,94 |
TIMES |
1,02 |
TIMES |
|
|
|
NET WORTH TIE-UP |
,26 |
|
,24 |
|
|
|
|
INDEBTEDNESS |
,26 |
|
,20 |
|
|
|
|
EQUITY RATIO |
79,12 |
% |
83,58 |
% |
|
|
|
WORKING CAPITAL RATIO |
207,58 |
% |
284,80 |
% |
|
|
|
GENERAL SOLVENCY |
4,79 |
|
6,09 |
|
|
|
|
RETURN ON NET EQUITY |
20,39 |
% |
38,31 |
% |
|
|
|
RETURN ON SALES (PROFIT MARGIN) |
21,60 |
% |
37,46 |
% |
|
|
|
GROSS PROFIT MARGIN |
44,26 |
% |
44,48 |
% |
|
|
|
OPERATIONAL RESULT |
24,12 |
% |
37,25 |
% |
|
|
|
SALES TURNOVER ON LIABILITIES |
4,93 |
TIMES |
6,33 |
TIMES |
|
|
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
US$ 1,00 = R$ 2,40 |
- OFFICIAL RATE |
|
US$ 1,00 = R$ 2,04 |
- OFFICIAL RATE |
|
US$ 1,00 = R$ 1,87 |
- OFFICIAL RATE |
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL
RATIOS.
THE FIGURES AVAILABLE SHOW NORMAL FINANCIAL STANDING. IT SHOWS GOOD LIQUIDITY
AND POSITIVE WORKING CAPITAL AMOUNT, AS WELL AS LOW LEVEL OF INDEBTEDNESS. IN
ADDITION IT SHOWS DROP IN SALES BUT MADE PROFIT.
OWNED PREMISES ARE VALUED AT R$ 4.890.000,00
OWNED VEHICLES ARE VALUED AT R$ 489.000,00
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 6.880.000,00
THE COMPANY MAINTAINS INSURANCE COVERAGE IN AMOUNT CONSIDERED SUFFICIENT
BY THE MANAGEMENT TO COVER CONTINGENCY RISKS OVER ITS ASSETS AND/OR
LIABILITIES.
|
|
|
|
|
BANCO DO BRASIL S/A |
|
|
|
BANCO ITAU S/A |
|
|
|
BANCO BRADESCO S/A |
|
|
|
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 NO RETURNED CHECKS UP TO
DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK"). DATE RESEARCHED
FEBRUARY 12, 2014. |
SUBJECT IS ENGAGED IN THE MANUFACTURE OF PHARMACEUTICALS.
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
DOMESTIC
CLIENTS: |
|
|
|
ARMARINHOS PARANÁ SANTA CATARINA LTDA |
|
|
|
DIMED S/A DISTRIBUIDORA DE MEDICAMENTOS |
|
|
|
DISTRIBUIDORA VIANA GOMES LTDA |
|
|
|
ITACE COMERCIAL LTDA |
|
|
|
NORTE SUL MEDICAMENTOS LTDA |
|
|
THE COMPANY HAS: 500 EMPLOYEE(S)
THE SUBJECT IS AN OLD-ESTABLISHED COMPANY, OPERATING SINCE 1947. SO FAR
IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED.
THE COMPANY HAS TRADE RELATIONS WITH SEVERAL 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.
THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT.
IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS
WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY’S TRADE
REPUTATION.
OUR INVESTIGATION THROUGH THE PUBLIC SHOWED SOME DETRIMENTAL FILES
REGISTERED AGAINST THE SUBJECT BUT DUE TO THE SUBJECT’S HIGH FINANCIAL STRENGTH
AND HIGH SCALE OF OPERATIONS THE DETRIMENTAL FILES ARE CONSIDERED NORMAL AND DO
NOT AFFECT ITS TRADE REPUTATION OR ITS CREDITWORTHINESS.
|
DOMESTIC
SUPPLIERS: |
|
|
|
C A S IMPORTAÇÃO E EXPORTAÇÃO LTDA |
|
|
|
LABORATÓRIOS PFIZER LTDA |
|
|
|
SAINT GOBAIN VIDROS S/A |
|
|
|
WHEATON DO BRASIL INDUSTRIA E COMERCIO LTDA |
|
|
|
7 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 1.000.211,00 |
|
|
|
AMOUNT OF INVOICES PAID: 20 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
HIGHEST INVOICE: R$ 500.411,00 |
|
HIGHEST CREDIT: R$ 500.411,00 |
|
|
|
OUTSTANDING INVOICES DUE WITHIN THE NEXT 60 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL
AMOUNT: |
|
DUE WITHIN 30 DAYS |
2 |
5 |
R$ 445.896,15 |
|
DUE WITHIN 60 DAYS |
1 |
4 |
R$ 36.580,26 |
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS.
UP TO DATE IT HAS A GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD
PAYMENT BEHAVIOUR.
BASED ON THE GENERAL INFORMATION AVAILABLE IT IS
BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE
EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.
AN INITIAL CREDIT LIMIT OF US$ 1.000.000,00 MAY BE
CONSIDERED.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.27 |
|
|
1 |
Rs. 103.66 |
|
Euro |
1 |
Rs. 85.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.