|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TEXTILES RISARALDA SA |
|
|
|
|
Registered Office : |
Cl. 8 # 12-30 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.03.1972 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
Not Available |
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 |
TEXTILES RISARALDA SA |
|
TRADE NAME |
RISALTEX SA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
8914014164 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Cl. 8 # 12-30 Zona Ind. La Popa |
|
CITY/PROVINCE/STATE |
Dosquebradas, Risaralda |
|
PHONE NUMBER(S) |
(57-6) 330.3550 |
|
FAX NUMBER |
(57-6) 330.3550 |
|
E-MAIL |
risaltex@hotmail.com |
|
PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
|
COMMENTS OF IDENTIFICATION.- |
This report was ordered as: TEXTILES RISALDA SA, which is incorrect.
Please not that the correct company name is mentioned in the heading. The
supplied address: Calle 8 No 12-30 Dosquebradas, Risaralda is wrongly written
and incomplete. Please note that the correct and complete form of this
address is as shown in caption. No website was found. |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
MEDINA ZAPATA, JULIO CESAR |
Director |
|
|
OLARTE MEJIA, JUAN MANUEL |
Director |
|
|
PULIDO ARANGO, JUAN ALBERTO |
Director |
|
|
PULIDO BUSTAMANTE, ANGELA MARIA |
Sales Director |
|
|
PULIDO ARANGO, HERNANDO NICOLAS |
Alternate Director |
|
|
OLARTE MEJIA, MARGARITA |
Alternate Director |
|
|
PULIDO ARANGO, ANDRES FELIPE |
Alternate Director |
|
|
PULIDO ARANGO, LUIS FERNANDO |
General Manager/Legal Representative |
|
|
PULIDO ARANGO, ANDRES FELIPE |
Branch Administrator / Alternate Legal Representative |
|
|
ARANGO VDA DE PULIDO, ANGELA |
Alternate Legal Rep. |
|
|
GUERRERO HOYOS, SANDRA LILIANA |
Tax Reviser |
|
|
OSPINA HERRERA, BELLELA |
Alternate Tax Reviser |
|
|
WHO IS WHO? |
|
PULIDO ARANGO, LUIS FERNANDO |
|
ID 70,876,687, Business Administrator. He works here since 1986, . |
|
PULIDO ARANGO, ANDRES FELIPE |
|
ID 10,138,596, . |
|
ARANGO VDA DE PULIDO, ANGELA |
|
ID 21,313,527, . |
|
GUERRERO HOYOS, SANDRA LILIANA |
|
ID 42,137,101, . |
|
OSPINA HERRERA, BELLELA |
|
ID 42,134,017, . |
|
COMMENTS ON LEGAL ASPECTS. - |
|
On 27/03/1972, subject was initially established as a Limited Partnership
with company name TEXTILES RISARALDA LTDA, as per Public Deed No. 500, 1st
Notary of Pereira. Through Public Deed No. 2220 dated 22/05/2001, 1st Notary
of Pereira, subject changed its legal status from a Limited Partnership
(LTDA) to a Stock Company with company name TEXTILES RISARALDA SA. Through
Public Deed No. 4870 dated 09/10/2008, 1st Notary of Pereira, subject changed
its address from Pereira to Dosquebradas. |
|
LITIGATIONS |
|
|
It reports the following civil law suits as defendant: 1. - Plaintiff:
SIERRA RIAÑO, ALFONSO - Document: 1345134 - City: Pereira - Court: 1st Civil
- Type of process: Singular execution - Date of start: 12/01/2011 - Amount:
Ps$1,000,000.00 Colombian Pesos - Instance: 1st - No guarantee and is active
2. - Plaintiff: OLGA LUCIA CARVAJAL LUGO, ALBERTO DE JESUS CAR - City:
Medellin - Court: 17th Civil - Type of process: Singular execution - Date of
start: 26/08/2010 - Amount: Ps$1,000,000.00 Colombian Pesos - Instance: 1st -
No guarantee and is active |
|
|
BANK COMENTS |
|
|
Consulted Banks in Colombia did not provide information on their
clients per bank secrecy. |
|
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
27/03/1972 |
|
REGISTERED IN |
Pereira |
|
DURATION |
22/05/2031 |
|
NOTARY OFFICE |
1st Notary |
|
REGISTRATION |
No. 0032521 |
|
PAID-UP CAPITAL |
Ps$2,300,000,000.00 Colombian Pesos |
|
LAST CAPITAL INCREASE |
Last known |
|
SHARE VALUE |
Ps$1,000,000.00 Colombian Pesos, each |
|
% CASH SALES/PAYMENT METHOD |
30% |
|
IMPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 1,095,120.69 |
|
COUNTRIES |
India, Malaysia, Thailand, China, Turkey, Peru, Indonesia |
|
YEAR |
2012 |
|
AMOUNT |
US$ 1,142,988.00 |
|
COUNTRIES |
India, Malaysia, Netherlands, Thailand, Peru, China, Pakistan, Turkey,
Indonesia |
|
YEAR |
2011 |
|
AMOUNT |
US$ 742,712.17 |
|
COUNTRIES |
India, Peru, Netherlands, Thailand, Indonesia |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Not specified |
|
SUPPLIER FROM |
2010 |
|
DEADLINES |
Invoices at 30 days |
|
COMMENTS.- |
Excellent client. |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$70,000,000.00 Colombian Pesos |
|
SUPPLIER FROM |
2010 |
|
DEADLINES |
Invoices at 60 days |
|
COMMENTS.- |
Excellent client. |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$120,000,000.00 Colombian Pesos |
|
SUPPLIER FROM |
2006 |
|
DEADLINES |
Invoices at 75 days |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$600,000,000.00 Colombian Pesos |
|
SUPPLIER FROM |
2003 |
|
DEADLINES |
Invoices at 30 days |
|
COMMENTS.- |
Excellent client |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$1,500,000,000.00 Colombian Pesos |
|
SUPPLIER FROM |
2002 |
|
DEADLINES |
Invoices at 90 days |
|
COMMENTS.- |
Excellent client. |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$15,000,000.00 Colombian Pesos |
|
SUPPLIER FROM |
2012 |
|
DEADLINES |
Invoices at 30 days |
|
COMMENTS.- |
Excellent client. |
|
CREDIT FILES |
|
|
Other consulted suppliers did not provide information on their
clients. |
|
|
RELATED
COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
CBC SA |
8914123052 |
COLOMBIA |
|
PULIDO ARANGO Y CIA SA |
9000236501 |
COLOMBIA |
|
FINANCIAL INFORMATION |
|
CONTENT.- |
|
We interviewed Mr. Juan Olarte (Director) who supplied general information
on the subject, except for financial figures per confidentiality policies,
despite we disclosed the enquirer's name. Therefore, this report was
complemented with data from external sources. Through external sources we
found subject's General Balance Sheets as of 31/12/2011 and as of 31/12/2012
(12 months, each), expressed in Colombian Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
14,683,607,000.00 |
13,532,085,000.00 |
8.51 |
|
.Net Fixed |
70,349,000.00 |
71,679,000.00 |
-1.86 |
|
.Total Assets |
14,753,956,000.00 |
13,603,764,000.00 |
8.45 |
|
.Total Current Liabilities |
9,138,486,000.00 |
8,755,393,000.00 |
4.38 |
|
Total Liabilities |
9,138,486,000.00 |
8,755,393,000.00 |
4.38 |
|
Total Equity |
5,615,470,000.00 |
4,848,371,000.00 |
15.82 |
|
Total Liabilities and Equity |
14,753,956,000.00 |
13,603,764,000.00 |
8.45 |
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
25,753,907,000.00 |
26,278,539,000.00 |
-2.00 |
|
Profit(loss) |
798,882,000.00 |
797,662,000.00 |
0.15 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
5,545,121,000.00 |
4,776,692,000.00 |
0.16 |
|
.CREDIT RATING |
1.61 |
1.55 |
0.04 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
1.61 |
1.55 |
0.04 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
1.75 |
1.93 |
-0.09 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL COMMENTS.- |
|||
|
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 |
|||
|
RATE OF EXCHANGE |
US$1.00 = Ps$1,990.50 |
|
LISTED AT STOCK EXCHANGE |
NO |
|
OPERATIONS |
|
|
SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
|
ACTIVITY |
TEXTILES/ FABRICS |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
MAIN ACTIVITY |
Sale of textile products. |
|
% CREDIT SALES/TERMS |
70% (Terms at 60,90 days) |
|
TERRITORY OF SALES |
100% (Domestic Market) |
|
LOCATION |
|
|
HEAD OFFICES: located at captioned address, in a commercial area of
the city. Premises in good repair and with easy access routes. Previous address:
Av. 30 de Agosto # 29-19 Centro, Pereira. WAREHOUSE: Cra. 61 # 49-10,
Medellin. |
|
|
COMMENTS OF OPERATIONS.- |
|
|
Its clients are manufacturers, wholesalers, retailers and final users. |
|
|
INSURANCE. - |
|
Subject holds an insurance policy with SEGUROS GENERALES SURAMERICANA
SA. (Unspecified coverage amount and maturity date) |
|
LOCAL SUPPLIERS |
||
|
Name |
|
|
|
AGENCIA DE ADUANAS PROFESIONAL S.A. NIVEL 1 |
|
|
|
COLTEFINANCIERA S.A. CIA. DE FINANCIAMIENTO |
|
|
|
COLTEJER - COLTEJER S.A |
|
|
|
COOPERATIVA DE TRANSPORTADORES DEL RISARALDA
LTDA. |
|
|
|
COORDINADORA MERCANTIL S.A. |
|
|
|
EMPRESA DE TELECOMUNICACIONES DE PEREIRA S.A. |
|
|
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FABRICA DE TEXTILES TEXTRAMA S A |
|
|
|
FABRICA TEXTIL DE LOS ANDES S.A. |
|
|
|
FABRICATO S.A. (EN REESTRUCTURACION) |
|
|
|
GUATA Y APLICACIONES INDUSTRIALES Y CIA. LTDA. |
|
|
|
HILAZAS Y TEXTILES DE COLOMBIA S.A. |
|
|
|
MAGNUM LOGISTICS S.A. |
|
|
|
PROTELA S A |
|
|
|
SEGURIDAD NACIONAL LTDA. |
|
|
|
SUPERTEX S.A. |
|
|
|
TEJIDOS DE PUNTO LINDALANA S.A.S |
|
|
|
TEXTILES KONKORD S.A. (EN REESTRUCTURACION) |
|
|
|
TEXTILES MIRATEX S.A.S. |
|
|
|
TEXTILIA S.A.S. |
|
|
|
VANGUARD LOGISTICS SERVICES COLOMBIA S.A. |
|
|
|
FOREIGN
SUPPLIERS |
||
|
Name |
Country |
|
|
PC MODA |
PERU |
|
|
TOTAL FABRICS |
NETHERLANDS |
|
|
SAN JACINTO |
PERU |
|
|
TEXICOR |
PERU |
|
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.103.12 |
|
Euro |
1 |
Rs.84.96 |
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.