|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
GROUPE SEB COLOMBIA SA |
|
|
|
|
Registered Office : |
Autopista Medellin - Km. 40 Rionegro Bogota. |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
|
Date of Incorporation : |
09.08.1934 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Manufacture and trading of aluminum and stainless steel
products for kitchen and plastic for home |
|
|
|
|
No. of Employees : |
1313 |
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 energy and mining exports, making it vulnerable to a drop in commodity prices. Colombia is the world’s fourth largest coal exporter and Latin America’s fourth largest oil producer. Economic development is stymied by inadequate infrastructure and an uncertain security situation. Moreover, the unemployment rate of 9.7% in 2013 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. Colombia is also a founding member of the Pacific Alliance—a group formed in 2012 among Chile, Colombia, Mexico, and Peru to promote regional trade and integration. In 2013, Colombia began its ascension process to the OECD. The annual level of foreign direct investment - notably in the oil and gas sectors - reached $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. Inequality, poverty, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
GROUPE SEB COLOMBIA SA |
|
TRADE NAME |
GSC SA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
8909003077 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Autopista Medellin - Km. 40 Rionegro |
|
CITY/PROVINCE/STATE |
Bogota. |
|
PHONE NUMBER(S) |
(57-1)569.8888 |
|
FAX NUMBER |
(57-4) 569 8888 ext. 4137 |
|
|
gisaza@imusa.com.com |
|
WEB SITE |
www.imusa.com.co |
|
|
siriarte@groupeseb.com |
|
CR-RATING |
LOW RISK |
|
PAYMENT HISTORY |
WITHOUT CREDIT EXPERIENCE |
|
COMMENTS OF IDENTIFICATION.- |
Another e-mail: mcdiaz@groupeseb.com This report was ordered as GROUP SEB. Please be noted that the complete and correct company name of the subject is as shown above Likewise, this report was ordered with address: Autopista Medellin - Bogota KM 40 Rionegro. Please be noted that the complete and correct address of the subject is as shown above. |
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
09/08/1934 |
|
REGISTERED IN |
Bogota |
|
DURATION |
31/12/2050 |
|
REGISTRATION |
No.0000408304 |
|
RATE OF EXCHANGE |
US$1.00 = Ps$2042.50 as of report date |
|
BACKGROUND (HISTORY).- |
|
|
The subject was established as INDUSTRIAS METALURGICAS UNIDAS SA. Then, in 2012 the subject absorbed the company GROUPE SEB DE COLOMBIA SA (NIT: 830043602-2). Thus, it modified its company name from INDUSTRIAS METALURGICAS UNIDAS SA. to GROUPE SEB COLOMBIA SA. |
|
|
COMMENTS RELATED COMPANIES |
|
|
The subject is part of GRUPO SEB |
|
|
BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
SANCHEZ ZARAMA, JUAN GUILLERMO |
President/General Manager/Legal Representative |
|
|
MANTILLA ORTIZ, GUSTAVO ADOLFO |
Director |
|
|
JEAN JACQUES, THIRIEZ LOPEZ |
Director |
|
|
VELASQUEZ
ALVAREZ , LINA MARIA |
Director |
|
|
BEDOYA BUILES , JESSICA LILIANA |
Director |
|
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DOS SANTOS SOARES, FERNADO JORGE |
Director |
|
|
IRRIARTE FLOREZ , SOFIA |
General Accountant |
|
No negative information found.
|
PAID-UP CAPITAL |
Ps$102,889,000.00 Pesos |
|
NET WORTH |
Ps$128,791,649,000.00 Pesos (as of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
IMPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 20,390,608.16 |
|
COUNTRIES |
China, Vietnam, Brazil, Mexico, France, Venezuela, Usa, Italy, Korea, Taiwan. |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 29,526,761.94 |
|
COUNTRIES |
China, Vietnam, Brazil, Mexico, France, Venezuela, Usa, Italy, Korea, Taiwan. |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 18,248,614.78 |
|
COUNTRIES |
China, Vietnam, Brazil, Mexico, France, Venezuela, Usa, Italy, Korea, Taiwan. |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 13,849,947.15 |
|
COUNTRIES |
China, Vietnam, Brazil, Mexico, France, Venezuela, Usa, Italy, Korea, Taiwan. |
|
EXPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 12,247,346.28 |
|
COUNTRIES |
Ecuador, United States, Venezuela, Mexico, Peru, Panama, Puerto Rico, Cuba, Argentina, Dominican Republic. |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 23,841,643.37 |
|
COUNTRIES |
Ecuador, United States, Venezuela, Mexico, Peru, Panama, Puerto Rico, Cuba, Argentina, Dominican Republic. |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 19,831,801.76 |
|
COUNTRIES |
Ecuador, United States, Venezuela, Mexico, Peru, Panama, Puerto Rico, Cuba, Argentina, Dominican Republic. |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 19,713,766.13 |
|
COUNTRIES |
Ecuador, United States, Venezuela, Mexico, Peru, Panama, Puerto Rico, Cuba, Argentina, Dominican Republic. |
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
INTERNATIONAL (BVI) LTDA |
|
|
HONG KONG |
|
IMUSA USA LLC |
|
|
U.S.A. |
|
INDUSTRIA
MEXICANA DEL ALUMINIO SA DE CV |
|
(52-55) 1165.8500 |
MEXICO |
|
BOOSHEN IRON STEL CO., LTD |
|
|
CHINA |
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RELATED COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
SEB DEVELOPMEMT LLC |
|
U.S.A. |
|
SEB
INTERNATIONAL LTDA |
|
UNITED KINGDOM |
|
SEB SA |
|
PERU |
|
COMMENTS ON LEGAL ASPECTS .- |
||
|
The subject has been registered in the Chamber of Commerce of Medellin with Trade Registration No.408304 (29/03/1972). The subject is registered in the Business Register and in the Chamber of Commerce (RUS) |
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|
||
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FINANCIAL INFORMATION |
|
CONTENT.- |
|
During our investigation, we interviewed Ms. Martha Diaz (Management Secretary) who supplied general information regarding the subject except for financial figures on grounds of confidentiality. Besides, she stated that we must send an e-mail requesting information. However we have not received any reply. Through external sources, we obtained its General Balance Sheet as of 31/12/2012 (12 months) expressed in Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
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Balance Date |
31/12/2012 |
|
|
|
Currency |
Peso |
|
|
|
Exchange Rate |
1,774.50 |
|
|
|
.Current Total |
152,009,218,000.00 |
|
|
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.Net Fixed |
225,711,052,000.00 |
|
|
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.Total Assets |
377,720,270,000.00 |
|
|
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.Total Current Liabilities |
168,456,230,000.00 |
|
|
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.Long Term Accounts |
80,472,391,000.00 |
|
|
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Total Liabilities |
248,928,621,000.00 |
|
|
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Total Equity |
128,791,649,000.00 |
|
|
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Total Liabilities and Equity |
377,720,270,000.00 |
|
|
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PROFIT AND LOSS
ACCOUNT |
|||
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Balance Date |
31/12/2012 |
|
|
|
Currency |
Peso |
|
|
|
Exchange Rate |
1,774.50 |
|
|
|
Net Sales |
297,743,574,000.00 |
|
|
|
Net Income(Net Loss) |
6,937,191,000.00 |
|
|
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RATIOS FINANCIAL |
|||
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PERIOD |
2,012.00 |
|
|
|
.NET WORKING CAPITAL |
-16,447,012,000.00 |
|
|
|
.LIQUIDITY RATIO |
0.90 |
|
|
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.CONTENTS OF THE ACID TEST |
0.00 |
|
|
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.INDEBTEDNESS |
1.52 |
|
|
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.LIABILITIES, CAPITAL |
0.00 |
|
|
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.TOTAL ASSET TURNOVER |
0.79 |
|
|
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.RETURN ON EQUITY |
0.00 |
|
|
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.NET RETURN ON SALES |
0.00 |
|
|
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FINANCIAL
COMMENTS.- |
|||
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The subject is a long-standing industrial company incorporated in 1934, which seems to be operating without major inconvenience. 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 |
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INSURANCE.- |
|||
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No insurance policies were reported. |
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CREDIT FILES |
|||
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Consulted suppliers do not give references of their clients by policy of companies. |
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RATE OF EXCHANGE |
US$1.00 = Ps$2042.50 as of report date |
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OPERATIONS |
|
|
SECTOR |
1.-INDUSTRY |
|
ACTIVITY |
METAL PRODUCTS |
|
ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION, PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
2710-Manufacture of iron and steel primary products |
|
MAIN ACTIVITY |
Manufacture and trading of aluminum and stainless steel products for kitchen and plastic for home. House brand: "IMUSA", "ALD, CLOD", "KROPS - NAC. ARNO", "CALOR", "LANGOSTINO", "PANEX", "SAMURAI" and "SEB" |
|
% CREDIT SALES/TERMS |
100% (terms at 30- 60 - 90 days) |
|
TERRITORY OF SALES |
90% (Domestic market) |
|
% FOREIGN SALES |
10% |
|
% LOCAL PURCHASING |
20% |
|
% FOREIGN PURCHASING |
80% |
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N. OF EMPLOYEES |
1313 approximately |
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LOCATION |
|
PLANT, ADMINISTRATIVE OFFICES, WAREHOUSE: Located at captioned address in an industrial zone of the city. Spacious premises. TAX DOMICILE. PLANT: - Km. 1 Via Cajica Zipaquira Cundinamarca Colombia. Phone: (57-1) 592 3838 STORES: - Centro Comercial Santafe Local 1-134/ 1-135, Bogota - C. Cial Metropolis Local 110, Bogota - Centro Comercial Unicentro, Avenida 15 con calle 122, Local 1243, Bogota - IMUSA Entre la Calle 13 y Las Americas Cra. 60 No.11- 22 Local 4 Bogota - Centro Comercial Buenavista Local 221/222, Barranquilla - Centro Comercial Chipichape Local 403 Plaza Shopping , Cali - Centro Comercial Sandiego Local 187, Medellin - Centro Comercial Oviedo Local 1390 1er Piso, Medellin - Centro Comercial Los Molinos Local 1069, Medellin - Centro Comercial Pereira Plaza Local 169, Pereira |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCOLOMBIA SA |
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|
|
COLOMBIA |
|
BANCO DE BOGOTA
SA |
|
|
|
COLOMBIA |
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BANK COMENTS |
||||
|
Consulted banks do not give any information of their clients due to bank secrecy. |
||||
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.