|
Report Date : |
18.01.2014 |
|
|
|
|
Tel. No.: |
3648181 |
IDENTIFICATION DETAILS
|
Name : |
ACEFER Y CIA LTDA |
|
|
|
|
Registered Office : |
Carrera 32 No.9 – 24, Bogota |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.11.1982 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and commercialization of metal and hardware products |
|
|
|
|
No. of Employees : |
55 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
ACEFER Y CIA LTDA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
860511559-8 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Carrera 32 No.9 - 24 |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE NUMBER(S) |
(57-1) 364.8181 |
|
FAX NUMBER |
(57-1) 364.8182 |
|
E-MAIL |
cexterior@acefer.com.co |
|
WEB SITE |
www.acefer.com.co |
|
PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
|
COMMENTS OF IDENTIFICATION.- |
Another e-mails: - gfinanciera@acefer.com.co
- administracion@acefer.com.co - contabilidad@acefer.com.co |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Limited Liability Company |
|
INCORPORATION DATE |
06/11/1982 |
|
REGISTERED IN |
Bogota |
|
DURATION |
43 years |
|
REGISTRATION |
No.184565 |
|
COMMENTS ON LEGAL ASPECTS .- |
|
|
The subject was registered at the Bogota Chamber of Commerce on
02/02/1983. The subject is member of the Bogota Chamber of Commerce. The name
of the notary who attested the articles of incorporation was not found. |
|
|
BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
ALDANA, JUAN BAUTISTA |
Director/General Manager |
YES |
|
DUQUE RODRIGUEZ, MARIA NELLY |
Director/Under Manager |
YES |
|
ALDANA DUQUE, ERIKA SOLANGE |
Director |
YES |
|
ALDANA DUQUE, OLGA YANNETH |
Director |
YES |
|
ALDANA DUQUE, JUAN BAUTISTA |
Director |
YES |
|
PARRA, EDGAR |
Branch Administrator |
|
|
HERNANDEZ IZQUIERDO, TERESA |
Statutory Auditor |
|
WHO IS WHO? |
|
ALDANA, JUAN BAUTISTA |
|
Colombian, ID, 17.194.573, . |
No negative information found.
|
INITIAL CAPITAL |
Ps$30,000,000.00 Pesos |
|
PAID-UP CAPITAL |
Ps$900,000,000.00 Pesos |
|
LAST CAPITAL INCREASE |
Year 2006 (last known) |
|
NET WORTH |
Ps$5,594,685,000.00 Pesos (as of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
IMPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 1,587,227.36 |
|
COUNTRIES |
China, Germany, India, France, Spain, UK., Mexico |
|
YEAR |
2012 |
|
AMOUNT |
US$ 5,068,684.57 |
|
COUNTRIES |
India, Peru, Turkey, Brazil, UK, France, Mexico, China, Spain,
Trinidad and Tobago |
|
YEAR |
2011 |
|
AMOUNT |
US$ 7,026,948.09 |
|
COUNTRIES |
India, Peru, UK, France, Brazil, China, Spain, Trinidad and Tobago |
|
YEAR |
2010 |
|
AMOUNT |
US$ 5,309,898.20 |
|
COUNTRIES |
India, Brazil, Peru, UK, China, Turkey, Mexico, Spain, Italy, Belgium |
|
YEAR |
2009 |
|
AMOUNT |
US$ 2,002,014.45 |
|
COUNTRIES |
Mexico, India, Brazil, China, Peru, France, UK, Turkey, Germany, Spain |
|
EXPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 1,865.19 |
|
COUNTRIES |
Ecuador |
|
YEAR |
2012 |
|
AMOUNT |
US$ 3,754.54 |
|
COUNTRIES |
Ecuador |
|
YEAR |
2011 |
|
AMOUNT |
US$ 2,268.60 |
|
COUNTRIES |
Ecuador |
|
YEAR |
2010 |
|
AMOUNT |
US$ 1,927.38 |
|
COUNTRIES |
Ecuador |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$455,000,000.00 Pesos |
|
SUPPLIER FROM |
2006 |
|
MONTHLY AVERAGE |
Ps$400,000,000.00 Pesos |
|
DEADLINES |
Inv. at 60 days |
|
PRODUCTS SOLD |
Steel profiles |
|
COMMENTS.- |
Payment method: transfers. Last purchase: 14/01/2014. |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$300,000,000.00 Pesos |
|
SUPPLIER FROM |
Many years ago |
|
MONTHLY AVERAGE |
US$120,000.00 Dollars |
|
DEADLINES |
Invoices at 60 days |
|
PRODUCTS SOLD |
Steel |
|
COMMENTS.- |
Payment method: checks Last purchase: January 2014 |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$20,000,000.00 Pesos |
|
SUPPLIER FROM |
2000 |
|
MONTHLY AVERAGE |
US$15,000.00 Dollars |
|
DEADLINES |
Terms at 30 days |
|
PRODUCTS SOLD |
Metals |
|
COMMENTS.- |
Payment method: checks Last purchase: January 2014 |
|
% CASH SALES/PAYMENT METHOD |
40% |
|
% CREDIT SALES/TERMS |
60% (Invoices at 30 days) |
Na
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We interviewed Mr. Edgar Parra (Branch Administrator) who just
supplied partial data on subject on the grounds of confidentiality. Through
outside sources, we obtained the subject's Balance Sheets as of 31/12/2012
and 31/12/2011 (12 months, each one), expressed in Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
18,507,330,000.00 |
20,073,536,000.00 |
-7.80 |
|
.Net Fixed |
6,856,708,000.00 |
4,153,264,000.00 |
65.09 |
|
.Total Assets |
25,364,038,000.00 |
24,226,800,000.00 |
4.69 |
|
.Total Current Liabilities |
17,636,839,000.00 |
17,490,002,000.00 |
0.84 |
|
.Long Term Accounts |
2,132,514,000.00 |
1,000,412,000.00 |
113.16 |
|
Total Liabilities |
19,769,353,000.00 |
18,490,414,000.00 |
6.92 |
|
Total Equity |
5,594,685,000.00 |
5,736,386,000.00 |
-2.47 |
|
Total Liabilities and Equity |
25,364,038,000.00 |
24,226,800,000.00 |
4.69 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
26,178,805,000.00 |
28,140,297,000.00 |
-6.97 |
|
Profit(loss) |
1,573,332,000.00 |
1,602,333,000.00 |
-1.81 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
870,491,000.00 |
2,583,534,000.00 |
-0.66 |
|
.CREDIT RATING |
1.05 |
1.15 |
-0.09 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
1.28 |
1.31 |
-0.02 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
1.03 |
1.16 |
-0.11 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL COMMENTS.- |
|||
|
Regarding the Balance Sheet as of 31/12/2013, they said that it was in
the process of elaboration. ACEFER Y CIA LTDA is a commercial company
established in 1982, which does not register detrimental against the
operations. 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 |
|||
|
DETAILS OF FIXED ASSETS.- |
|||
|
- Cranes - Forklifts - Vehicles: trucks and vans - Computer equipment
- Furniture - Office equipment |
|||
|
INSURANCE.- |
|||
|
All-risk insurance policy has been underwritten by MAPFRE SEGUROS DE
COLOMBIA SA. (Neither coverage amount nor maturity were specified). |
|||
|
RATE OF EXCHANGE |
US$1.00 = Ps$1931.2 |
|
OPERATIONS |
|
|
SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
|
ACTIVITY |
HARDWARE |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
ISIC CLASS |
-Wholesale/Retail sale of hardware articles, paints and other products |
|
MAIN ACTIVITY |
Import and commercialization of metal and hardware products. |
|
TERRITORY OF SALES |
98% (Domestic market) |
|
% FOREIGN SALES |
2% |
|
N. OF EMPLOYEES |
55 |
|
LOCATION |
|
ADMINISTRATIVE OFFICES, SALES STORE and WAREHOUSE: Located at the
above address, in an industrial zone of easy access routes. Owned premises
which are kept in good condition. |
|
COMMENTS OF
OPERATIONS.- |
|
Sales are conducted directly. The subject was awarded the ISO
9001:2000 Certification. Main products: - Special steel - Structural steel -
Aluminum - Bronze - Copper - Brass - Industrial Plastics Etc. Main
competitors: - ACEROS BOEHLER DE COLOMBIA SA - AXXECOL SA |
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
FERRETERIA IMPERIAL LTDA |
Giovani Cruz |
(57-1) 360.0977 |
|
INCOAL SA |
Crisna Agudelo |
(57-4) 351.0909 |
|
ACEROS METAL Y AFINES MANTILLA VELEZ SA |
Meli Ferrucho |
(57-1) 360.0099 |
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
ASE METALS N.V. |
|
|
BELGIUM |
|
YUE SENG INDUSTRIAL CO. LTD. |
|
|
TAIWAN |
|
VIRAJ PROFILES LTD. |
|
|
INDIA |
|
ARCELOR MITTAL BRASIL SA |
|
|
BRAZIL |
|
BANKERS /
REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCOLOMBIA SA |
|
|
|
COLOMBIA |
|
BANCO DE OCCIDENTE SA |
|
|
|
COLOMBIA |
|
BANCO DAVIVIENDA SA |
|
|
|
COLOMBIA |
|
HELM BANK SA |
|
|
|
COLOMBIA |
|
BANK COMENTS |
||||
|
The above banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
||||
|
CREDIT OPINION |
|
National company which seems to be operating normally. No detrimental
records were found against subject. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.