|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LA DISTRIBUIDORA
DE CASIMIRES S.A. DE C.V. |
|
|
|
|
Formerly Known as : |
La Distribuidora de Casimires S. de R.L. |
|
|
|
|
Registered Office : |
Benjamín Franklin 100, Col. Escandon, Deleg. Miguel Hidalgo, Postal code 11800 |
|
|
|
|
Country : |
Mexico |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
21.10.1959 |
|
|
|
|
Legal Form : |
Stock Company of Variable Capital |
|
|
|
|
Line of Business : |
engaged in the importation, sale and distribution of Fabrics for clothing apparel, Bathroom Fittings, Tableware & Decorative Items |
|
|
|
|
No of Employees : |
118 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Mexico |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Mexico ECONOMIC OVERVIEW
Mexico has a free market
economy in the trillion dollar class. It contains a mixture of modern and
outmoded industry and agriculture, increasingly dominated by the private sector.
Recent administrations have expanded competition in seaports, railroads,
telecommunications, electricity generation, natural gas distribution, and
airports. Per capita income is roughly one-third that of the US; income
distribution remains highly unequal. Since the implementation of the North
American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has
increased from 7% to 12%, and its share of Canadian imports has doubled to
5.5%. Mexico has free trade agreements with over 50 countries including
Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan -
putting more than 90% of trade under free trade agreements. In 2012 Mexico
formally joined the Trans-Pacific Partnership negotiations and in July it
formed the Pacific Alliance with Peru, Colombia and Chile. In 2007, during its
first year in office, the Felipe CALDERON administration was able to garner
support from the opposition to successfully pass pension and fiscal reforms.
The administration passed an energy reform measure in 2008 and another fiscal
reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports
dropped, asset prices tumbled, and remittances and investment declined. GDP
recovered during 2010-13 with exports - particularly to the United States -
leading the way. In November 2012, Mexico's legislature passed a comprehensive
labor reform which was signed into law by former President Felipe CALDERON.
Mexico's new PRI government, led by President Enrique PENA NIETO, has
emphasized economic reforms during its first year in office, passing education,
energy, financial, fiscal and telecommunications reform legislation.
Nevertheless, administration estimates show GDP growth slowed in 2013 to just
over 1%.
|
Source : CIA |
IDENTIFICATION |
|
|
CORRECT COMPANY NAME |
LA DISTRIBUIDORA
DE CASIMIRES S.A. DE C.V. |
|
TRADE NAME |
DICSA |
|
TAXPAYER REGISTRATION |
RFC DCA870130BH4 |
|
MAIN ADDRESS |
Benjamín Franklin 100, Col. Escandon,
Deleg. Miguel Hidalgo |
|
POSTAL CODE |
11800 |
|
DEPT/PROV/REGION/STATE |
México DF |
|
COUNTRY |
MEXICO |
|
TELEPHONE |
(5255) 52773322 |
|
CORPORATE E-MAIL |
|
|
WEB |
|
|
COMMENTS |
|
Be advised the correct name is LA DISTRIBUIDORA DE CASIMIRES S.A. DE C.V.No telephone number was given on your order.Toll Free Call: 01 800 905 7400Other email: kjimenez@dicsamexico.com.mx Fax: (55) 55162444 |
|
EXECUTIVE SUMMARY |
|
|
Date of foundation |
1959 |
|
Capital stock |
Ps$.19,718,757 Pesos |
|
Shareholders' equity |
96,680,638.00 Pesos (31DEC2013) |
|
Annual revenues |
US$ 26,532,050.80 Pesos (31DEC2013) |
|
Profits (loss) |
44,617,673.00 Pesos (31DEC2013) |
|
permanent employees |
118 |
|
Chief Executive |
CHERES CAMPEAS, ROBERTO NATHAN |
|
Disposition |
Excellent. Full information and Financial Statements. |
|
Payments policy |
Usually to terms / good |
|
Credit (**) |
MODERATE RISK. (Acceptable financial
situation but limited). |
|
Number of times that this company was
required: 12 |
|
REPUTATION |
|
NOTHING AGAINST COMPANY |
LEGAL STRUCTURE |
|||
|
LEGAL STATUS |
Stock Company of Variable Capital |
|
|
|
DATE OF INCORPORATION |
21OCT1959 |
|
|
|
PLACE OF REGISTRY |
Mexico DF |
|
|
|
NOTARY OFFICE |
No 131, Andrés Ruiz Isunza |
DURATION |
99 years |
|
REGISTRATION |
Notarial Act 10624 |
|
|
|
CURRENT PAID-IN CAPITAL |
Ps$.19,718,757 Pesos |
LAST CAPITAL INCREASE |
31/12/2013 |
|
SHAREHOLDERS EQUITY |
96,680,638.00
Pesos (31DEC2013) |
|
|
|
CURRENT EXCHANGE RATE (US$) |
Ps$12.95
per USD.1.00 |
|
|
|
COMMENTS |
|
||
The Company was entered in the Public Registry of Property of the City of Mexico. |
|||
DIRECTORSEXECUTIVES –
SHAREHOLDERS |
|||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
WHO IS WHO? |
|
|
CHERES CAMPEAS,
ROBERTO NATHAN |
|
|
TITLE |
General Director |
|
NATIONALITY |
Mexican |
|
D.O.B. |
August 16, 1954 |
|
CIVIL STATUS |
Married |
|
TAX ID |
CECR-54086-CX7 |
|
BACKGROUND INFORMATION |
Member of Club de Golf Bellavista S.A. de C.V |
BUSINESS HISTORY |
|
LA DISTRIBUIDORA DE CASIMIRES S.A. DE C.V. is a textile Mexican company founded on October 21st, 1959 in the City of Mexico under the name La Distribuidora de Casimires S. de R.L.In accordance with Notarial Act 51287 dated April 20, 1976 before Fausto Rico Álvarez, Notary Public No.6, La Distribuidora de Casimires S. de R.L. changed name to La Distribuidora de Casimires S.A.In accordance with Notarial Act 32,216 dated June 2, 1987, before Carlos de Pablo Serna, Notary Public No. 137, La Distribuidora de Casimires S.A. changed name to La Distribuidora de Casimires S.A. de C.V. , as shown in the Public Registry of Property and Commerce of Mexico D.F. , Page 49,892, dated December 22, 1987.It is not related to any other company. |
|
BUSINESS |
|
|
Main activity |
The Company is engaged in the importation, sale and distribution of: Fabrics for clothing apparel: Gentlemen Ladies Upholstery Drapery Decorative rugs for home Bathroom Fittings Shower curtains Bath rug Ceramic sets Baskets for dirty laundry Tableware Placemats Decorative Items Cushions Customized curtains |
|
OPERATIONS |
|||||||||||
|
Import |
Yes |
||||||||||
|
Country |
Korea, Taiwan, Thailand, India, Turkey,
China, France, Germany, USA, Belgium letters of credit at 120 and 150 days |
||||||||||
|
ANNUAL Imports In US$ (CIF) |
|
||||||||||
|
Export |
Yes |
||||||||||
|
COUNTRY |
USA; (fabrics) payments made in cash |
||||||||||
|
% CASH SALES / METHOD |
20% |
||||||||||
|
% Credit SALES / Terms |
80% 30, 60, 90 and 180 days |
||||||||||
|
% Ventas exterior (Paises) |
01% |
||||||||||
|
% DOMESTIC PURCHASES |
10% |
% FOREIGN PURCHASES |
90% |
||||||||
|
SELLING TerritorY |
Domestic market - 99% |
||||||||||
|
EMPLOYEES |
118 |
||||||||||
|
|||||||||||
|
Comments |
|
Main Clients:- MODATELAS S.A. DE C.V.- DISTRIBUIDORA LIVERPOOL S.A. DE C.V.- IDEAS DOMESTICAS S.A. DE C.V.- TELAS Y DECORACIONES DEL RIO S.A. DE C.V.- UNIFORMES EMPRESARIALES S.A. DE C.V.- CINTAS (USA) |
|
FINANCIAL INFORMATION |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Disposition |
Excellent. Full information and Financial
Statements. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Interviewee(s) |
Karla Jiménez Santiago |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Position(s) |
General Accountant |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Information provided |
Ms. Jiménez supplied the information in this report, including the Balance Sheet as of December 31, 2013, expressed in Pesos.She said next time it would be necessary to reveal the name of the requesting party. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
FINANCIAL SITUATION |
FAIR
Taking into account the last Financial Statement submitted and/or other factors analyzed, we believe that financial Situation of the Company is SATISFACTORY due to the following considerations: Liquidity Ratio is acceptable. Working capital shows a satisfactory margin, though liabilities exceed shareholders' equity account. Final results are satisfactory. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Property of company comments |
|
|||
They include:- Buildings- Machinery and equipment- Office furniture and fixtures- Computers- Vehicles |
||||
|
|
|
|
|
|
INSURANCE |
||
|
||
|
Main fixed assets of the company (general detail) |
||
Insurance policy is renewed annually. |
TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS(Confidential Information) |
||||||||||||||||||||||||||||||||||||||||||||||
|
TRADE REFERENCES |
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Note : Other
suppliers did not provide information or could not be consulted |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
UK Pound |
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.