|
Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AGRIPAC S.A. |
|
|
|
|
Registered Office : |
General Cordova 623 entre Padre Solano y Luis Urdaneta - Guayaquil
Guayas |
|
|
|
|
Country : |
Ecuador |
|
|
|
|
Financials (as on) : |
30.11.2013 |
|
|
|
|
Date of Incorporation : |
08.05.1972 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Production and sale of inputs for the Agricultural Industry |
|
|
|
|
No. of Employees |
1.089 |
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 – March 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Ecuador |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ECUADOR - ECONOMIC
OVERVIEW
Ecuador is substantially dependent on its petroleum
resources, which have accounted for more than half of the country's export
earnings and approximately two-fifths of public sector revenues in recent
years. In 1999/2000, Ecuador's economy suffered from a banking crisis, with GDP
contracting by 5.3% and poverty increasing significantly. In March 2000, the
Congress approved a series of structural reforms that also provided for the
adoption of the US dollar as legal tender. Dollarization stabilized the
economy, and positive growth returned in the years that followed, helped by
high oil prices, remittances, and increased non-traditional exports. From
2002-06 the economy grew an average of 4.3% per year, the highest five-year
average in 25 years. After moderate growth in 2007, the economy reached a
growth rate of 6.4% in 2008, buoyed by high global petroleum prices and
increased public sector investment. President Rafael CORREA Delgado, who took
office in January 2007, defaulted in December 2008 on Ecuador's sovereign debt,
which, with a total face value of approximately US$3.2 billion, represented
about 30% of Ecuador's public external debt. In May 2009, Ecuador bought back
91% of its "defaulted" bonds via an international reverse auction.
Economic policies under the CORREA administration - for example, an announcement
in late 2009 of its intention to terminate 13 bilateral investment treaties,
including one with the United States - have generated economic uncertainty and
discouraged private investment. China has become Ecuador's largest foreign
lender since Quito defaulted in 2008, allowing the government to maintain a
high rate of social spending; Ecuador contracted with the Chinese government
for more than $9.9 billion in forward oil sales, project financing, and budget
support loans as of December 2013. Foreign investment levels in Ecuador
continue to be the lowest in the region as a result of an unstable regulatory
environment, weak rule of law, and the crowding-out effect of public
investments. In 2013, oil output marginally reversed a declining trend and production
is expected to increase slightly in 2014, although prices will likely remain
lower than in previous years. Faced with a 2013 trade deficit of $1.1 billion,
Ecuador erected technical barriers to trade in December 2013, causing tensions
with its largest trading partners. Ecuador also decriminalized intellectual
property rights violations in February 2014.
|
Source
: CIA |
T A X :
0990006687001
AGRIPAC
S.A.
General Cordova 623 entre Padre Solano y Luis Urdaneta - Guayaquil Guayas
ECUADOR
Telephone :
593-4-2560400
Fax : 593-4-2312868
E_Mail : msuco@agripac.com.ec,
fluna@agripac.com.ec
Web Site : www.agripac.com.ec
Started
: 1972
Total Employees
: 1.089
Payments
: Prompt
Financial
Sit.
: Normal
Economic
Sit.
: Acceptable
Sales
: US$ 197.790.086.-
Net
worth
: US$
63.257.376.-
Current
profit : US$
8.409.317.-
Subscribed Capital :
US$ 26.611.546.-
Authorized Capital :
US$ 30.000.000.-
Sic(s) : 5191
Line of Business: Production and sale of inputs for the Agricultural Industry
According to
last financial statement, subject shows a normal financial situation, as
indicated in:
** Acceptable Working Capital
** Good Current Liquidity Ratio
** Acceptable Acid Test Ratio
Economic situation is acceptable, as reflected in:
** High Current Indebtedness Ratio
** High Total Indebtedness Ratio
** Good Solvency Ratio
** Low Profitability Over Sales Ratio
** Low Profitability Over Assets Ratio
** High Profitability Over Net Worth Ratio
According to Magazine Gestión Economía y Sociedad Nº 228 dated on July
01, 2013, this company was part of the main companies of the Country
Commercial
Bulletin : As at 31/12/2013 subject does not
register protested
checks in the national central of
risk
Suppliers'
trade references are supplied as follows:
Detail of References
Old : Since 2008
Last purchase : 11-2013
Terms : 30 days
Payment : Prompt
Notes : attached check
Credit : Open
Owes : Does not Register
Due : Does not Register
Paying Comments : Excellent
Purchase Aver. : (Monthly
US$) 20.000
Last purchase value US$ 5.000,00
Old :
Since 1997
Last purchase :
11-2013
Terms : 60-90 days
Payment : Prompt
Notes : bank transfer
Credit : Open
Owes : Does not Register
Due : Does not Register
Paying Comments : Excellent
Purchase Aver. : (Monthly
US$) 70.000
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit
Owes
Old Purch. Payment.
Notes
(US$) (US$)
--------------------------------------------------------------------------------
10
years 06-13 Prompt bank
transfer
230.000
-
Since 1997 07-13 Prompt bank
transfer
Open
-
15 years 11-12 Prompt bank
transfer
Open
-
15 years 09-12 Prompt bank
transfer
Open
-
Since 1993 06-12 Prompt
checks
36.000 None
9 years 05-12 Prompt bank
transfer
230.000 None
Since 1999 06-12 Prompt bank
transfer
3.000.000
None
Since 1999 02-11 Prompt bank transfer
Open None
Since 1993 02-12 Prompt
checks
30.000 None
- Tax Status: Current obligations fulfilled
- Special Taxpayer
- Subject is not part of the Clinton List
- Special Taxpayer: It has special features and obligations which allow
apply a better control in then taxes
- Clinton List: A list of companies and persons from all around the world
involved in the drugs traffic and money washign, it is issued by the Office of
Foreign Assets Control (OFAC)of the Treasury Department of the United Sates of
America
Below are listed the top five banks in which this company has credits in the
National Financial System.
Total debt up to December 2013 is US$ 29.994.455,73
Detail of Bank References
Bank
: Banco Bolivariano C.A.
To
expire
: US$ 8.492.032,17
Bank
: Banco de Guayaquil S.A.
To
expire
: US$ 5.954.026,49
Bank
: Banco Internacional S.A.
To
expire
: US$ 2.706.699,05
Bank
: Banco Pichincha C.A.
To
expire
: US$ 10.113.857,77
Bank
: Banco Promerica S.A.
To
expire
: US$ 2.331.692,84
Agripac
S.A., had a credit with one month of overdue term for US$ 30,65 in the National
Financial System registered in September, 2012
Maximum amount of indebtedness registered by the subject -, in the National
Financial System was US$ 42.168.863,80 in May, 2012
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2010 was US$ 28.655.741,07
During 2011 was US$ 35.848.583,99
During 2012 was US$ 36.301.700,28
During 2013 was US$ 32.412.203,75
Indebtedness
with one month past due.
Date
amount in US$
September,
2012
30,65
Income tax corresponding to the last years:
Year 2012: US$ 1.638.516
Year 2011: US$ 1.250.671
Year 2010: US$ 1.059.883
C O M P A R A T I V E - S U M M A R Y
( Figures in US$ Dollars )
30/11/2013
31/12/2012 31/12/2011
CURRENT
ASSETS
133.103.524
119.541.560 128.969.000
CURRENT
LIABILITIES
102.949.153
92.617.053 113.422.000
WORKING
CAPITAL
30.154.371
26.924.507 15.547.000
FIXED
ASSETS
43.979.434
41.804.783 41.867.000
OTHER
ASSETS
13.528.126
14.375.762 8.569.000
LONG TERM
LIABILITIES 24.404.555
27.905.699 15.035.000
NET
WORTH
63.257.376
55.199.353 50.948.000
OPERATING
INCOMES 197.790.086
191.089.739 193.994.000
CURRENT
PROFIT(LOSS) 8.409.317
4.463.199 3.575.000
B A L A N C E S H E E T
INDIVIDUAL FISCAL YEAR SUMMARIZED
ASSETS
30/11/2013 31/12/2012
Cash
3.992.885
1.950.927
Sundry
Debtors
46.605.349 60.939.724
Inventory
62.223.901
51.596.763
Other Current Assets 20.281.389
5.054.146
CURRENT ASSETS
133.103.524 119.541.560
Net Fixed
Asset
43.979.434 41.804.783
FIXED ASSETS 43.979.434
41.804.783
Other
13.528.126
14.375.762
OTHER
ASSETS 13.528.126
14.375.762
TOTAL
ASSETS
190.611.084 175.722.105
LIABILITIES
30/11/2013 31/12/2012
Accounts
Payable
53.895.687 52.603.532
Notes
Payable
36.819.412 34.160.095
Other Current
Liabilities
12.234.054 5.853.426
CURRENT LIABILITIES
102.949.153 92.617.053
Notes
Payable
17.200.541 26.397.025
Other Long Term
Liabilities
7.204.014 1.508.674
LONG TERM
LIABILITIES
24.404.555 27.905.699
Capital &
Reserves
26.611.546 26.611.546
Other
Reserves
4.993.645 5.373.424
Accumulated
Profits
23.242.868 18.751.184
Current Profit
(Losses)
8.409.317 4.463.199
NET
WORTH
63.257.376 55.199.353
TOTAL
LIABILITIES
190.611.084 175.722.105
STATEMENTS OF
RESULTS
30/11/2013 31/12/2012
Operating
Income
197.790.086 191.089.739
Operating
Cost
-148.602.419
-143.609.065
OPERATING MARGIN
49.187.667 47.480.674
Administration & Sales
Expenses -36.199.651
-40.229.647
OPERATING
RESULT 12.988.016
7.251.027
Other non Operating
Incomes 67.295
0
NON OPERATING RESULT 67.295
0
Result Before Income
Tax
13.055.311 7.251.027
Taxes and Employees
Participation
-4.645.994 -2.787.827
NET
PROFIT(LOSS)
8.409.317
4.463.200
CURRENT
PROFIT(LOSS)
8.409.317 4.463.200
ECONOMIC - FINANCIAL RATIOS
30/11/2013
31/12/2012 Average
Working
Capital ( US$ ) 30.154.371
26.924.507 28.539.439
Current Liquidity
(Times) 1,29
1,29 1,29
Acid Test
(Times) 0,69
0,73 0,71
Collection Period Days (
Days) 84,83
114,81 99,82
Accounts Receivable
Turnover(Times) 4,24
3,14 3,69
Inventory Turnover
(Times) 2,39
2,78 2,59
Current Indebtedness
(Times) 1,63
1,68 1,66
Total Indebtedness
(Times) 2,01
2,18 2,10
Solvency
(Times) 1,50
1,46 1,48
Assets Tying
Up
( % ) 23,07
23,79 23,43
Profitability Over Sales ( %
) 4,25
2,34 3,30
Profitability Over Assets ( %
) 4,41
2,54 3,48
Profitability Over Net Worth( %
) 15,33
8,80 12,07
Subject
operates with the following banks:
- Banco Bolivariano C.A. ACCT # 148591
- Banco de Guayaquil S.A. ACCT # 1072773
- Banco De La Produccion S.A. ACCT # 0100600045-0
- Banco del Austro S.A.
- Banco Del Pacifico S.A. ACCT # 2493-7
- Banco Internacional S.A. ACCT # 1000012104
- Banco Pichincha C.A. ACCT # 3119768104
- Banco Promerica S.A.
Line of Business : Production and sale of inputs for the Agricultural Industry.
Commercialization of veterinary products and instruments,
products for aquaculture, produces balanced food for animals, etc.
It also provides Consultancy services
and Technical Assistance.
This Company has ISO 9001 Quality Certifications, ISO 14001 Enviromental Management Certification, ISO 18001 Health Management and Work Safety Certifications
Economic activity registered at the Internal Service is the WHOLESALE OF
AGRICULTURAL RAW MATERIALS.
Social
objective registered at the Superintendency of companies is the Activity
related to the industry and trade in general, specially agricultural
services.
Subject keeps the following divisions: Agriculture, Seeds, Animal health,
aquiculture, consumption and grains.
Classification according to commercial activity:
Sic: 5191-0000 Farm supplies
-0100 Fertilizers and
agricultural chemicals
-0103 Herbicides
-0303 Seeds: field, garden,
and flower
-0200 Animal feeds
Commercializes:
- BuenCan
- Michu
- Glifopac
- Atrapac
- Aminapac
Sales are
steady throughout the year
National sales territory
70% of total sales are wholesale, 35% in cash and 65% on credit with 60 days
term: Remaining 30% is retail sale, 40% in cash and 60% on credit with 60 days
term
Main
customers are: Farmers in general, line of business' distributors, industry
in general.
The 4 most important customers are:
Ecuasol S.A., Corporacion Favorita C.A., Industrias Ales
C.A., Floragro-Vet S.C.C..
Domestic and
international purchases
Imports from Colombia, United States, Mexico, Switzerland.
- Imports account for 90% of total purchases
- Basf
Ecuatoriana S.A.
- Delcorp S.A.
- Dupocsa Protectores Quimicos Para El Campo S. A.
- Incubadora Anhalzer, Compañia Limitada
- Industria Cartonera Ecuatoriana S.A.
- Industrial Y Comercial Trilex C.A.
- Latienvases S.A.
- Manabita De Comercio S.A. Mancorsacom
- Procesadora Nacional De Alimentos C.A. Pronaca
- Productora Cartonera S.A.
- Sacos Duran Reysac S.A.
- Ameropa AG
(Switzerland)
- Ameropa AG (Mexico)
- Dow Agrosciences (United States)
- Dow Agrosciences (Colombia)
- Excel AG, CORP (United States)
- Syngenta Limited (Colombia)
Employees: 1.089 employees approx.
-
Administrative offices are located at General Cordova 623 entre Padre Solano
y Luis Urdaneta Guayaquil Guayas, Ecuador
- A-v. Enrique Ponce Luque S/N y
Transversal Babahoyo Los Ríos Ecuador
- Via Duran Tambo Km 5.5 Av. Principal S/N Durán Guayas Ecuador
- Av. Jaime Roldos Aguilera S/N Guayaquil Guayas Ecuador
- Via A Daule a la altura del Km 15.5 Av. Principal S/N Guayaquil Guayas
Ecuador
- Alejo Lascano 140 y 9 de octubre Portoviejo Manabí Ecuador
- Calle Teniente Hugo Ortiz S/N y Escalon Sur Quito Pichincha Ecuador
- Calle Chile 300 y Olmedo Milagro Guayas Ecuador
- Via a Pasaje a la altura del Km 4.5 y Av. Principal S/N Machala El Oro
Ecuador
- Pedro Vasconez a la altura del Km 1.5 y Juan Sevilla Suares Ambato
Tungurahua
Ecuador
- Av 29 de Mayo 720 y Calle Cuenca Santo Domingo de Los Colorados Santo
Domingo
de los Tsachilas Ecuador
- It has two Industrial Plants in Duran, one in Pascuales and one in
Quevedo
- It has 156 branches in all provinces of Ecuador, except Galapagos
Subject is related to the following companies:
- Aeroagripac S.A. T A X : 0992665491001 . Sales as at 31/12/2012 US$
2.846.459
- Rahan Meristem del Ecuador Cia. Ltda. T A X : 0992504994001 . Sales as
at
31/12/2012 US$ 260.309
- Inchpac S.A. T A X : 0992729473001 Samborondón Guayas . Sales as at
31/12/2012 US$ 203.233
- Mercaquimicos S.A. T A X : 1792102421001 Quito Pichincha . Sales as at
31/12/2012 US$ 1.894.177
- Sociedad Anonima Civil Coverham Sa T A X : 0990556873001 . Sales as at
31/12/2012 US$ 177.673
- Productora Manabita Proman C Ltda T A X : 1390071066001 . Sales as at
31/12/2012 US$ 612.797
Insurance Company:
-Rio Guayas Compañia de Seguros y Reaseguros S.A.
General Manager :
Gustavo Francisco Wray Franco TAX:0908984776001
Manager First
: Nicolas Roberto
Armstrong Luna TAX:0908404965001
Executive President
: Colin Robert Armstrong Wilson
TAX:0905014056
Financial Director : Francisco Jose Luna Bernos TAX:0915500516
Human Resources Director :
Almudena Cardenal
Controller : Eco. Manuel Suco Cardenas
Accountant
: Laura Delgado
Gustavo Francisco
Wray Franco
T A
X
: 0908984776001
Civil status : Married
Birth date : 15/03/1971 -Ecuador
Position : General Manager
Mercantile Register : Number 8718
of 18/05/2012
Previously : Legally registered at the IRS to
perform personal business
since 07-10-1999 until
29-08-2007. His registered business
activity was: Professional
Services Provider.He had no a
trade name. At present it is
in Definity Suspension
T A
X
: 0908404965001
Civil status : Married
Birth date : 25/03/1976 -Ecuador
Position : Manager First
Mercantile Register : Number 17953
of 17/09/2010
Simultaneously :
Legally registered at the IRS to perform personal business since December 22th,
2008. His registered business activity is: Activities of Business Consultancy
and Management. Has no a trade name
Curriculum : Legally registered charge is First
Manager, but he holds the position of Commercial Director
T A
X
: 0905014056
Civil status : Married
Birth date : 09/09/1945 -England
Position : Executive President
Mercantile Register : Number 1323
of 25/01/2010
T A
X
: 0915500516
Civil status : Married
Birth date : 30/09/1974
-Peru
Position :
Financial Director
Legal Structure : Stock Company
Constitution date :
08/05/1972
Authorization : Resolution Nº 0
Notary
: N° 13, Quito Pichincha
Term of duration :
50 Year, ended on 08/05/2022
Legal Address : Guayaquil - Ecuador
Published in : Official Gazette dated 08/05/1972
Current Subscribed Capital: US$ 26.611.546.-
Authorized Current Capital: US$ 30.000.000.-
Subscribed & paid-in Initial Capital: US$ 2.-
Shareholders : 3
- 68,41% 0905014056 Colin Robert Armstrong Wilson
- 31,58% Maria Isabel Valdez Mora
- 0,01% Cecilia Alexandra Luna Lopez de Armstrong
Legal representation is held by Executive President, General Manager. Manager
First,.
By Resolution Nº 2450 on 01/08/1985, notary N° 21, Guayaquil Guayas, published
in the Official Gazette dated 31/01/1986, corporate structure was modified:
from
limited liability partnership to private stock company.
By Resolution Nº 2416 on 04/11/1997, notary N° 25, Guayaquil Guayas, published
in the Official Gazette dated 06/07/1998, taking over was carried out Subject
absorbed Electroba S.A. and Industrial Semillas Continental C.A. Contisem
By Resolution Nº 8349 on 02/07/2002, notary N° 28, Guayaquil Guayas, published
in the Official Gazette dated 13/11/2002, taking over was carried out Subject
absorbed Corporacion Michener S.A.
By Resolution Nº 5985 on 09/09/2005, notary N° 38, Guayaquil Guayas, published
in the Official Gazette dated 28/09/2005, capital was increased: in USD.
1,197,895.00 of National Investment
By Resolution Nº 8416 on 05/12/2008, notary N° 38, Guayaquil Guayas, published
in the Official Gazette dated 06/02/2009, taking over was carried out Subject
absorbed Agrigrain S.A., and Celtec S.A.
By Resolution Nº 7001 on 10/11/2009, notary N° 38, Guayaquil Guayas, published
in the Official Gazette dated 05/12/2009, capital was increased: in
USD.2.82.700
By Resolution Nº 341 on 17/01/2011, notary N° 38, Guayaquil Guayas, published
in
the Official Gazette dated 24/01/2011, corporate purpose was modified: This
Company will be engaged in: All activities related to the Industry and Commerce
in general and to supply services to the agricultural sector
By Resolution Nº 0 on 19/12/2011, notary N° 38, Guayaquil Guayas, published in
the Official Gazette, capital was increased: amounting US$ 8.200.000
By Resolution Nº 3355 on 27/06/2012, published in the Official Gazette dated
27/06/2012, Takeover merge was carried out this company did absorb Laquinsa
Andina S.A.
By Resolution No. 03-G-IMV-000654 of 20 October 2003, the Superintendency of
Companies approved the registration of the holder on the stock exchange
Bellow is the detail of the current
issues:
1. - General Obligation Guarantee No. 2007.2.02.00584
Issuer: Agripac S. A.
Approving Resolution No.: 07-G-IMV-1530
Approving Resolution Date: 2007.03.07
R.M.V. Registration No.: 2007.2.02.00584
R.M.V. Registration Date: 2007.03.19
Value Type: General Obligation Guarantee
Yield: Fixed
Authorized Amount Issue: USD.5, 000,000.00
Rating Date: 2011/12/28
Obtained grade AA-
Risk Qualifier CALIFICADORA DE RIESGO HUMPHREYS SOCIEDAD ANONIMA
2. - VTC-Primera-Agripac No. 2009.2.02. 00703
Issuer: TITULARIZACION DE FLUJOS AGRIPAC
Approving Resolution No.: 09-G-IMV-320
Approving Resolution Date: 2009.01.19
R.M.V. Registration No.: 2009.2.02. 00703
R.M.V. Registration Date: 2009.01.26
Value Type: VTC-Primera-Agripac
Yield: Fixed
Authorized Amount of Issue: USD. 10,000,000.00
Rating Date: 2011/12/28
Obtained grade AAA-
Risk Qualifier CALIFICADORA DE RIESGOS PACIFIC CREDIT RATING S.A.
3. - SEGUNDA TITULARIZACION DE FLUJOS AGRIPAC
VTC-Segunda-Agripac No. 2010.2.02.00857
Issuer: SEGUNDA TITULARIZACION DE FLUJOS AGRIPAC
Approving Resolution: SC-IMV-Dayr-G-10-0007548
Approving Resolution Date: 2010.10.30
R.M.V. Registration No.: 2010.2.02.00857
R.M.V. Registration Date: 2010.11.08
Value Type: VTC-Second-Agripac
Yield: Fixed
Authorized Amount of issue: USD. 10,000,000
2012.01.31 rating Date
AAA-grade obtained
Risk Qualifier CALIFICADORA DE RIESGOS PACIFIC CREDIT RATING S.A.
According to the Internal Revenue Service,this company is part of the
Business Group AGRIPAC
Information regarding subject is supplied as follows
Diario "El Universo" of 10/06/2006 The corporate group Agroindustrial
Agripac
launched the plant of balanced food Balanfarina, with capacity to produce
10.500
t of food per month, for shrimp, fish, chickens, pigs, ostrich, cattle, pets
and
others.
With this achievement, declared its business manager, Nicholas Armstrong, it
becomes the largest and with most projection group in the country that promotes
soybean, corn and rice production. -
Diario "El Comercio" of 23/05/2007 The business of balanced food for
dogs is a
thriving line of business in Ecuador. This sector grew eight percentage points
in the past two years. Giovanna Vizuete, assistant manager of Consumer Division
of Agripac, indicated that 20 percent of the national canine population of 1.3
million, eats balanced food. Estimates that the market would be distributed
among Procan, Pronaca group (40 percent), Nestlé Purina (25 percent of the
market), Nutranuggets, Buencan and Nutrapro, the group Agripac covers eight
percent. The difference is split between the other brands. -
Revista Vistazo No. 985 of 04/09/2008 This Company was part of the 500 Largest
Companies of Country in 2007 occupying the 53 place -
Servicios de Rentas Internas of 31/12/2009 According to IRS data, in fiscal
year
2009, the Group Agripac recorded a total of 16 firms that had revenues of US$
204,585,329.79 and caused income tax was US$ 1,438,035.89. -
Revista Gestión Economía y Sociedad Nº 192 of 01/06/2010 This Company was
part
of the 500 Largest Companies of Country in 2009 occupying the 38 place
In Addition, it was part of the 50 Largest Importers of Country in 2009
occupying the 44 place with a CIF value of US$ 51.313.733,00. -
Servicios de Rentas Internas of 31/12/2010 According to IRS data, in fiscal
year
2010, the Group Agripac recorded a total of 15 firms that had revenues of US$
189.418.517,00 and caused income tax was US$ 1.124.799,00 -
Revista Gestión Economía y Sociedad Nº 204 of 01/06/2011 This Company was
part
of the 100 Largest Importers of Country in 2010 occupying the 63 place with a
CIF value of US$ 54.500.000,00. -
Revista Vistazo No. 1058 of 22/09/2011 Agripac S.A., was part of the 500
Largest
Companies of Country in 2010 occupying the 47 place -
Revista Gestión Economía y Sociedad No. 216 of 15/06/2012 This Company was part
of the 100 Largest Importers of Country in 2011 occupying the 30 place with a
CIF value of US$ 71.930.000. -
Servicio de Rentas Internas of 31/12/2012 According to IRS data, in fiscal year
2012, the Group Agripac recorded a total of 15 firms that had revenues of US$
198.621.464 and caused income tax was US$ 1.727.724 -
Revista Gestión Economía y Sociedad Nº 228 of 01/07/2013 This Company was
part
of the 100 Largest Importers of Country in 2012 occupying the 50 place with a
CIF value of US$ 72.020.000 -
of 29/01/2014 -
On 29/01/2014 Mr. Eco. Manuel Suco Cardenas, Controller, confirmed
general
information.
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in Ecuador
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
Credit risk assessment is ordered as follows: 1 Minimum Risk, 2 Low Risk, 3
Middle Risk, 4 Middle High Risk, 5 Significant Risk, 6 High Risk.
The Scoring is arranged as follows: 0 to 40 Delays, 41 to 60 Slow, 61 to 80
Moderate, 81 to 100 Prompt
Macroeconomic Information
Interest Rate for the week
of
10/03/2014 - 18/03/2014
Ref. Active
Rate for Operations
( % ) 8,17
Ref. Passive
Rate for Operations
( % ) 4,53
Basic Rate
of Central Bank ( % ) 0,20
Legal (
% ) 8,17
Maximum
conventional
( % ) 9,33
Inflation
Ratio
Yearly Inflation ( % ) 2,85 Feb/2014
Monthly
Inflation
( % ) 0,11 Feb/2014
Accumulated
( % ) 0,83 Feb/2014
The
information herein contained is confidential and exclusively
intended for its addressee. Unauthorized use, copying and/or
disclosure of the information contained in this
transmission may result in legal
punishment. If you receive this document by
error, please delete it and notify to the email
address: operaciones@twsecuador.com.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
UK Pound |
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.