MIRA INFORM REPORT

 

 

Report Date :

27.01.2014

 

IDENTIFICATION DETAILS

 

Name :

QUIMATIC S.A.

 

 

Registered Office :

El Rosal 4578 – Huechuraba, 85590724

 

 

Country :

Chile

 

 

Date of Incorporation :

29.12.1966

 

 

Legal Form :

Joint-Stock Company

 

 

Line of Business :

Importation, representation of chemicals and machines for laundries, and food and plastic products industries.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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

QUIMATIC S.A.

TAXPAYER REGISTRATION

RUT 818461003

MAIN ADDRESS

El Rosal 4578 - Huechuraba

POSTAL CODE

85590724

DEPT/PROV/REGION/STATE

Santiago/XIII Región Metropolitana

COUNTRY

CHILE

TELEPHONE

(562) 26756400

CORPORATE E-MAIL

mmartinez@quimatic.cl

WEB

www.quimatic.cl

 

 

EXECUTIVE SUMMARY

 

Date of foundation

1966

Capital stock

Ps$.321,879,000.= Pesos

Chief Executive

VETH RAFFO, CRISTIAN

Disposition

Declined. For security reasons and/or competition.

Payments policy

Without rating (No payment experience traced)

Number of times that this company was required: 4

 

 

LEGAL STRUCTURE

 

LEGAL STATUS

Joint-Stock Company

 

 

DATE OF INCORPORATION

29DEC1966

 

 

PLACE OF REGISTRY

Santiago

 

 

NOTARY OFFICE

Enrique Morgan Torres

 

 

CURRENT PAID-IN CAPITAL

Ps$.321,879,000.= Pesos

 

 

CURRENT EXCHANGE RATE (US$)

Ps$.529.45 per USD.1.00

 

 

COMMENTS

 

In accordance with Notarial Act dated 26/09/1986 before Enrique Morgan Torres, Notary Public of Santiago, published in the Official Gazette on  04/10/1986 Page No. 10, the name of the company changed from COMERCIAL LAVAMATIC CHILE LTDA. to QUIMATIC S.A.

 

In accordance with Notarial Act dated 24/08/1993 before Enrique Morgan Torres, Notary Public of Santiago, published in the Official Gazette on 17/09/1993 Page No. 13, the capital stock increased to the sum of Ps$.321,878,911.- Pesos.

 

In accordance with Notarial Act dated 22/01/1996 before Enrique Morgan Torres, Notary Public of Santiago, published in the Official Gazette on   03/02/1996 Page No. 27, the Board of Directors changed; it was agreed to increase members from three to five members.

In accordance with Notarial Act dated 05/07/1999 before Eduardo Pinto P., Notary Public of Santiago, published in the Official Gazette on 12/07/1999 Page No. 21, business purpose changed; it was expanded to the production, manufacture and mix of raw materials and food products; consulting services, related to the line of business.

 

In accordance with Notarial Act dated 21/10/2009 before Eduardo Avello Concha, Notary Public of Santiago, published in the Official Gazette on 18/11/2009, Page No. 41, the Board of Director changed, ; it was agreed to increase members from three to four members and the incorporation quorum as well as new resolutions resolved by the Meetings of the Board Directors.

 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME            

TITLE

%PART.

SINCE

VETH RAFFO, CRISTIAN

General Manager

 

 

HORNIG, KARL-HEINZ

Adm. & Finance Manager

 

 

BORQUEZ, CRALOS

Commercial manager

 

 

LUXINVEST CHILE S.A.

Majority Shareholder (Parent Company)

99.90%

 

KANSAMAR CHILE S.A.

Shareholder / Member

0.10%

 

 

 

WHO IS WHO?

 

VETH RAFFO, CRISTIAN

TITLE

General Manager

NATIONALITY

Chilean

BACKGROUND INFORMATION

Summary:

UC MBA Civil Engineer and U. Chile, trilingual, trained academically and professionally in Chile, USA, Germany and Argentina. Extensive exp ...

 

 

 

BUSINESS

SIC Classification

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

Main activity

Importation, representation of chemicals and machines for laundries, and food and plastic products industries.

Wholesaler - 100%

O P E R A T I O N S

Import

Yes

Country

Germany, Argentina, Belgium, Brazil, China,Colombia, Lithuania, Malaysia, Mexico Denmark, Spain, Philippines, France, Holland, India, England

ANNUAL Imports In US$ (CIF)

YEAR

AMOUNT

2012

3,106,733.66

2011

6,267,468.06

Export

Yes

% Ventas exterior (Paises)

1%

% DOMESTIC PURCHASES

5%

% FOREIGN PURCHASES

95%

LOCATION

OTHER PREMISES

The Company has no branches.

Comments

 

Brands:   PROLIANT  - STABLE MICRO SYSTEMS - AMERICA  PAMAPA  CORP  KELCO , NEXIRA MILKANT ,  AAKARTHUS LARISHO , COINTREU- DECAGON DEVICES -DIPASA - HILAMR INGREDIENTS - JRS- MONZINS  -  SPLENDA- NAEWO KOREA - AVEBE -NATIONAL  STARCH - FILM POLO- MONTROSE HAUSER CO

 

 

 

FINANCIAL INFORMATION

 

Disposition

Declined. For security reasons and/or competition.

Interviewee(s)

karl- heinze , hornig

Position(s)

Administrative and Finance Manager

Information provided

That is why we have used various sources to expand this report.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

UNDETERMINED

Financial situation is indeterminate.  No balance sheets or estimated accounting figures were available to assess this Company's current results.

Property of company comments

 

The Company owns real estate at El Rosal  4578 Huechuraba Santiago-Chile; apprailsal - M$500.143.-, Property Record Nº 3120-168, as well as two vans- Opel Combo, year 2009; two trucks MB Hyundai, year 2008.

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

EUROAMERICA SEGUROS DE VIDA S.A.

Assets in general

 

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

 

(Confidential Information)

TRADE REFERENCES

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

INDUCORP

CHILE

INDUSTRIA DE MAIZ Y ALIMENTOS S.A.

CHILE

SUCDEN CHILE S.A.

CHILE

AAK

BRAZIL

AQUALAB

BRAZIL

COINTREAU

FRANCE

DARHUS OILE

SWEDEN

HILMAR INGREDIENTS

U.S.A.

MILKAUT

ARGENTINA

NEXIRA

BRAZIL

POLO FILM

BRAZIL

PROLIANT

U.S.A.

CORPKELCO

U.S.A.

NATIONAL STACH

U.S.A.

MONZING

U.S.A.

STSBLE MICRO SYTEMS

UNITED KINGDOM

MONTROSE HAEUSER CO

UNITED KINGDOM

AVEBE

NETHERLANDS

COINTREU

FRANCE

FILM POLO

BRAZIL

AAK ARTHUS KARISHAMN

SWEDEN

MILAKAUT

ARGENTINA

 


CREDIT BUREAU COMMENTS

 

Commercial Bulletin : As of 29/07/2013 No information has been found in the Bulletin of Commercial Information as for protested drafts, promissory notes or checks. Labor Bulletin: As of 29/07/2013 found no labor infringements Social Security Bulletin: As of 29/07/2013 found no social security infringements Social Security Details: Date: 17/06/2013 Value : $ 25.004,00.- Month : 9 Bulletin: 142 Page : 143587 Drawer: I.P.S.(formerly I.N.P.) Consolidated Deliquent Debt: As of 29/07/2013, found no delinquent debts

 

 

Comments :

The Company is a client of the following banks: - Banco Bice (Casa central Teatinos 220, Santiago) - Banco de Chile (Casa Central Ahumada 251, Santiago) - Banco de Credito e Inversiones (Casa central Huérfanos 1134, Santiago) - Banco Security

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.18

UK Pound

1

Rs.103.38

Euro

1

Rs.85.09

 

 

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%)

 

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.