|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
QUIMICA FINA LTDA |
|
|
|
|
Registered Office : |
Cra. 232 No.77-74 Bogota D.C. |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
31.03.1998 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Purchase-sale of raw materials for the pharmaceutical industry and
representation of raw materials of foreign brands. |
|
|
|
|
No of Employees : |
15 |
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 (30.09.2013) |
Current Rating (01.12.2013) |
|
Colombia |
B1 |
B1 |
|
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 |
COLOMBIA - ECONOMIC OVERVIEW
Colombia's consistently sound economic policies and
aggressive promotion of free trade agreements in recent years have bolstered its
ability to weather 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. Colombia has signed or is negotiating
Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia
FTA went into force on May 2012. Colombia is also a founding member of the
Pacific Alliance - a regional grouping formed in 2012 by Chile, Colombia,
Mexico, and Peru to promote regional trade and economic 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 a record high
of $16.8 billion in 2013, an increase of 7% over 2012. Inequality, poverty, and
narcotrafficking remain significant challenges, and Colombia's infrastructure
requires major improvements to sustain economic expansion.
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
QUIMICA FINA LTDA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
830043390-3 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Cra. 232 No.77-74 |
|
CITY/PROVINCE/STATE |
Bogota D.C. |
|
PHONE NUMBER(S) |
(57-1) 312.9044 |
|
FAX NUMBER |
(57-1) 312.9044 |
|
E-MAIL |
info@quimicafina.com.co |
|
WEB SITE |
www.quimicafina.com.co (under construction) |
|
COMMENTS OF IDENTIFICATION.- |
The report was ordered with address: Calle 22D, No 34-55 Bogota.
Please be noticed that the correct address is as shown in caption. |
|
BOARD OF
DIRECTORS-EXECUTIVES |
||
|
NAME |
JOB TITLE |
% STAKE |
|
MEJIA JIMENEZ, OSCAR JAVIER |
Manager |
25% |
|
PLAZAS ZARATE, AURA XIMENA |
Under Manager |
25% |
|
MEJIA JIMENEZ, CARLOS |
Imports Manager |
|
|
BERMUDEZ MORENO, ROSA |
Accountant |
|
|
CUESTAS CASTELLANOS, JAIME RICARDO |
Tax Inspector |
|
|
MONTERO, SNADRA MARIBEL |
Alternate Tax Inspector |
|
|
WHO IS WHO? |
|
MEJIA JIMENEZ, OSCAR JAVIER |
|
Colombian, ID, 19461315, Chemical Engineer, . |
|
PLAZAS ZARATE, AURA XIMENA |
|
Colombian, ID, 51844144, . |
|
BERMUDEZ MORENO, ROSA |
|
Colombian, Public Accountant, . |
No negative information found.
|
PAID-UP CAPITAL |
Ps$300,000,000.00 Pesos |
|
LAST CAPITAL INCREASE |
November 2009 (Latest known) |
|
SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
MEJIA PLAZAS, ALEJANDRA |
Shareholder |
25% |
|
MEJIA PLAZAS, DAVID |
Shareholder |
25% |
|
PAYMENT HISTORY |
EP. A: PAYMENTS USUALLY PROMPT |
|
% CREDIT SALES/TERMS |
100% (Terms at 90-120 days) |
|
TERRITORY OF SALES |
100% (Domestic market) |
|
IMPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 1,833,060.20 |
|
COUNTRIES |
China, India, Korea, Spain, Germany, Denmark, Italy |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 913,771.79 |
|
COUNTRIES |
China, India, Korea, Spain, Germany, Denmark, Italy, UK, Poland, USA |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 1,194,781.77 |
|
COUNTRIES |
China, India, Korea, Spain, Germany, Denmark, Italy, USA |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 1,104,817.12 |
|
COUNTRIES |
China, India, Korea, Spain, Germany, Denmark, Italy, USA |
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
GLOBAL SHIPPING AGENCIES SA |
|
(57-1) 487.8220 |
N/a
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We interviewed Ms. Rosa Bermudez (Accountant), who provided commercial
information about the subject, except the financial figures stating that there
is no the management's authorization to disclose them. Through outside
sources, we found the subject's Balance Sheets as of 31/12/2012 and
31/12/2011 (12 months, each one), expressed in Pesos, as follow: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
4,096,950,000.00 |
3,464,316,000.00 |
18.26 |
|
.Net Fixed |
449,413,000.00 |
404,771,000.00 |
11.03 |
|
.Total Assets |
4,546,363,000.00 |
3,869,087,000.00 |
17.50 |
|
.Total Current Liabilities |
1,139,169,000.00 |
1,333,400,000.00 |
-14.57 |
|
.Long Term Accounts |
1,056,279,000.00 |
732,511,000.00 |
44.20 |
|
Total Liabilities |
2,195,448,000.00 |
2,065,911,000.00 |
6.27 |
|
Total Equity |
2,350,915,000.00 |
1,803,176,000.00 |
30.38 |
|
Total Liabilities and Equity |
4,546,363,000.00 |
3,869,087,000.00 |
17.50 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
4,309,641,000.00 |
3,827,790,000.00 |
12.59 |
|
Net Income(Net Loss) |
376,490,000.00 |
281,689,000.00 |
33.65 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
2,957,781,000.00 |
2,130,916,000.00 |
0.39 |
|
.LIQUIDITY RATIO |
3.60 |
2.60 |
0.38 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
2.07 |
1.87 |
0.11 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
0.95 |
0.99 |
-0.04 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL
COMMENTS.- |
|||
|
The subject is a commercial company established in 1995, which does not
register detrimental against the operations. 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$85.83 billion (31 December 2013 est.) · International reserves: US$43.74
billion (31 December 2013 est.) · Inflation rate : 2.2% (2013 est.) · GDP
growth rate: 4.2% (2013 est.) · Annual GDP per capita: US$11,100 (2013 est.)
GDP - composition, by sector of origin: agriculture: 6.6% industry: 37.8%
services: 55.6% (2013 est.) · Labour force of 23.08 million people (2013
est.) divided by: agriculture: 17% industry: 21% services: 62% Unemployment
rate: 9.7% (2013 est.) Productive sectors: Agriculture - products: coffee,
cut flowers, bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed,
vegetables; shrimp; forest products Industries: textiles, food processing,
oil, clothing and footwear, beverages, chemicals, cement; gold, coal,
emeralds Foreign trade: Exports: $58.7 billion (2013 est.) country comparison
to the world: 56 $59.85 billion (2012 est.) Exports - commodities: petroleum,
coal, emeralds, coffee, nickel, cut flowers, bananas, apparel Exports -
partners: US 36.6%, China 5.5%, Spain 4.8%, Panama 4.7%, Venezuela 4.4%,
Netherlands 4.1% Imports: $53.5 billion (2013 est.) country comparison to the
world: 54 $54.64 billion (2012 est.) Imports - commodities: industrial equipment,
transportation equipment, consumer goods, chemicals, paper products, fuels,
electricity Imports - partners: US 24.2%, China 16.3%, Mexico 10.9%, Brazil
4.8% Country risks: Commercial Country Risk: MEDIUM Political Country Risk:
LOW |
|||
|
INSURANCE.- |
|||
|
The subject holds an insurance policy against all risks with MAPFRE
SEGUROS GENERALES DE COLOMBIA SA. (Coverage amount and maturity date were not
supplied). |
|||
|
CREDIT FILES |
|||
|
Local consulted supplier does not provide trade references on clients
per company policies. |
|||
|
RATE OF EXCHANGE |
US$1.00 = Ps$1,919.00, as of report date |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Limited Liability Partnership |
|
INCORPORATION DATE |
31/03/1998 |
|
REGISTERED IN |
Bogota |
|
DURATION |
31/12/2014 |
|
NOTARY OFFICE |
No.6 |
|
REGISTRATION |
Deed 1839, Certificate 0861929 |
|
NET WORTH |
Ps$2,350,915,000.00 Pesos (as of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
COMMENTS ON
LEGAL ASPECTS .- |
|
|
The subject's Check Digit (DV) number is: 3 The DV number is a digit
added to the Tax Id. (NIT), a key number to be used in the detection of errors
and its possible correction, granted by the Superintendency of Companies. The
subject is affiliated to the Single Business Registration (RUE), under the
following data: - Chamber of Commerce: Bogota - Mercantile Certificate:
861929 - Registration date: 07/04/1998 - Situation: Active |
|
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
CHEMICAL INPUTS |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
MAIN ACTIVITY |
Purchase-sale of raw materials for the pharmaceutical industry and
representation of raw materials of foreign brands. |
|
N. OF EMPLOYEES |
15 |
|
LOCATION |
|
HEAD OFFICES: Located at the heading address, in a residential zone of
the city. A 3-story building made of concrete. |
|
COMMENTS OF
OPERATIONS.- |
|
Sales are conducted 100% directly. When visiting the captioned
address, it was possible to see a good merchandise and a high influx of
people, a very frequented commercial zone by general public and private and
state firms. |
|
BANKERS /
REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO POPULAR COLOMBIA SA |
|
|
|
COLOMBIA |
|
BANCO SANTANDER COLOMBIA SA |
|
|
|
COLOMBIA |
|
CITIBANK COLOMBIA SA |
|
|
|
COLOMBIA |
|
BANK COMENTS |
||||
|
The above banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
||||
|
CENTRAL RISK |
||||
|
No protested documents, bounced checks, promissory notes or legal
infringements against company name were reported. |
||||
|
COMMENTS: The subject is a commercial company in the domestic market, which
enjoys good prestige and does not register detrimental. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SHG |
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.