|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
QNOVA SA |
|
|
|
|
Registered Office : |
Carretera al Pacifico Km. 19.3, Granjas Italia, Nº 5, Zona
4 |
|
|
|
|
Country : |
Guatemala |
|
|
|
|
Date of Incorporation : |
07.02.2007 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Wholesale of Chemical Substances, Textile Fibers, Manure. The subject is engaged in the import, commercialization
and distribution of chemical products in general. Third party brands:
"ALBEMARLE", "ALPHARMA", "EVONIK", "EKA
CHEMICALS", "HUBER", "HUVEPHARMA",
"RANBAXY", "IBERCHEM", among others. |
|
|
|
|
No. of Employees |
55 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
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) |
|
Guatemala |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
GUATEMALA - ECONOMIC OVERVIEW
Guatemala is the most populous
country in Central America with a GDP per capita roughly one-half that of the
average for Latin America and the Caribbean. The agricultural sector accounts
for 13.5% of GDP and 30% of the labor force; key agricultural exports include
coffee, sugar, bananas, and vegetables. The 1996 peace accords, which ended 36
years of civil war, removed a major obstacle to foreign investment, and since
then Guatemala has pursued important reforms and macroeconomic stabilization.
The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) entered
into force in July 2006, spurring increased investment and diversification of
exports, with the largest increases in ethanol and non-traditional agricultural
exports. While CAFTA-DR has helped improve the investment climate, concerns
over security, the lack of skilled workers, and poor infrastructure continue to
hamper foreign direct investment. The distribution of income remains highly
unequal with the richest 20% of the population accounting for more than 51% of
Guatemala's overall consumption. More than half of the population is below the
national poverty line, and 13% of the population lives in extreme poverty.
Poverty among indigenous groups, which make up more than 40% of the population,
averages 73%, with 22% of the indigenous population living in extreme poverty.
Nearly one-half of Guatemala's children under age five are chronically
malnourished, one of the highest malnutrition rates in the world. Guatemala is
the top remittance recipient in Central America as a result of Guatemala's
large expatriate community in the United States. These inflows are a primary
source of foreign income, equivalent to one-half of the country's exports or
one-tenth of its GDP
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
QNOVA SA |
|
TRADE NAME |
QNOVA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
5214910-2 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Carretera al Pacifico Km. 19.3, Granjas Italia, Nº 5, Zona
4 |
|
CITY/PROVINCE/STATE |
Villanueva |
|
PHONE NUMBER(S) |
(502) 6630.5353 |
|
FAX NUMBER |
(502) 6630.7381 |
|
E-MAIL |
infor@quirsa.com.gt |
|
WEB SITE |
www.quirsa.com.gt (corporate site) |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
REITZEL HACK, GUNTHER HEINRICH |
President/General Manager |
|
|
ALBUREZ BARRIOS, CLAYTON
ESTUARDO |
Finance Manager |
|
|
REITZEL PRETI, ALEXANDER
HUMBERTO |
Imports Manager |
|
|
SOSA, CARLOS |
Accountant |
|
|
WHO
IS WHO? |
|
REITZEL HACK, GUNTHER HEINRICH |
|
German (naturalized Guatemalan), Married to Ana Maria
Preti de Reitzel, With Address: Calle 18-26, Zona 15 Colonia VH, Guatemala,
Tel. (502) 2365.8101, Our relate him to: President - CORPORACION QUIRSA SA -
2641158-K - GUATEMALA - 2001 General Manager - QUIMICA REITZEL SA - GUATEMALA
- 506133-4 - 2002 , . |
No negative information found.
|
INITIAL CAPITAL |
Q.5,000.00 Quetzales |
|
PAYMENT HISTORY |
EP. A: PAYMENTS USUALLY PROMPT |
|
% CASH SALES/PAYMENT METHOD |
30% |
|
% CREDIT SALES/TERMS |
70% (Invoices at 30 days) |
|
TERRITORY OF SALES |
100% (domestic market) |
|
% LOCAL PURCHASING |
30% |
|
% FOREIGN PURCHASING |
70% |
|
PAYMENTS |
|
|
TRADE
REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Confidential |
|
SUPPLIER FROM |
Several years ago |
|
DEADLINES |
Invoice/30-45 days |
|
PRODUCTS SOLD |
Chemical inputs |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with bank transfers. Rated as good client. |
|
CREDIT FILES |
|
|
Other suppliers consulted just confirmed subject as
client, without further references on grounds of confidentiality. |
|
|
LOCAL
SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
DISTRIBUIDORA Y DROGUERIA DEL CARIBE SA |
Victor Peralta |
(502) 2326.6666 |
|
BASF DE GUATEMALA SA |
Olga Gracias |
(502) 2445.7600 |
|
TRANSMERQUIM DE GUATEMALA SA |
Erick Barrios |
(502) 2479.0401 |
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
ROTEM AMFERT NEGEV LTD CO |
|
(972-8) 646.5111 |
ISRAEL |
|
JRS PHARMA GMBH & CO KG |
|
(49-7967) 152.312 |
GERMANY |
|
SINOCHEM JIANGSU CORPORATION |
|
(86-25) 5181.7888 |
CHINA |
|
MACCO ORGANIQUES SRO |
|
(420-555) 530.300 |
CZECH REPUBLIC |
|
FRESENIUS KAI AUSTRIA GMBH |
|
(43) 316.2490 |
AUSTRIA |
|
NITIKA PHARMACEUTICAL
SPECIALITIES PVT LTD |
|
(91-712) 264.1001 |
INDIA |
|
COMMENTS RELATED COMPANIES |
|
The subject is part of the QUIRSA Group, of national
capitals with more than 20 years in business. It is a group of companies
which serve a variety of industries, mainly food, cosmetic, animal nutrition
and health. |
|
RELATED
COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
CORPORACION QUIRSA R D SRL |
130666182 |
DOMINICAN REPUBLIC |
|
CORPORACION QUIRSA SA |
2641158-K |
GUATEMALA |
|
QUIMICA REITZEL DE EL SALVADOR SA DE CV |
|
EL SALVADOR |
|
REPRESENTACIONES Y QUIMICOS SA |
2641153-9 |
GUATEMALA |
|
SINOPIA SA |
5214938-2 |
GUATEMALA |
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We had an interview with Mr. Carlos Sosa (Accountant), who
provided partial information on subject and declared that he would not
disclose further details as long as the inquirer's name and origin was not
revealed. QNOVA SA is a commercial company established in 2007, about which
no negative background has been found. COUNTRY CONTEXT - GUATEMALA: The below
information has been obtained from a highly regarded public source that
issues comments on all world countries. Taxes: - Guatemalan income tax: 5% on
the net profit-business: - Alphabetic currency code for every country by the
International Organization for Standardization (ISO) 4217:Quetzal (GTQ). Main
economic indicators: - External debt: US$17.67 billion (31 December 2013
est.) - International net reserves: US $7.118 billion (31 December 2013 est.)
- Inflation rate: 4.4% (2013 est.) - GDP real growth rate: 3.3% (2013 est.) -
Annual GDP per capita: US$5,300 (2013 est.) GDP - composition, by sector of
origin: agriculture: 13.5% industry: 23.8% services: 62.7% (2013 est.) -
Workforce of 4.465 million people (2013 est.) divided by: agriculture: 38%
industry: 14% services: 48% Unemployment rate: 4.1% (2011 est.) (last
available) Productivity sectors: Agriculture - products: sugarcane, corn,
bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens Industries:
sugar, textiles and clothing, furniture, chemicals, petroleum, metals,
rubber, tourism Foreign trade: Exports: US$10.29 billion (2013 est.) country
comparison to the world: 93 US$10.11 billion (2012 est.) Exports -
commodities: coffee, sugar, petroleum, apparel, bananas, fruits and
vegetables, cardamom Exports - partners: US 40.2%, El Salvador 11.1%,
Honduras 8%, Mexico 5.5%, Nicaragua 4.7%, Costa Rica 4.3% Imports: US$16.7
billion (2013 est.) country comparison to the world: 83 US$15.84 billion
(2012 est.) Imports - commodities: fuels, machinery and transport equipment,
construction materials, grain, fertilizers, electricity, mineral products,
chemical products, plastic materials and products Imports - partners: US 38%,
Mexico 11.3%, China 7.4%, El Salvador 4.6% Country risks: Commercial Country
Risk: MEDIUM Political Country Risk: LOW |
|
DETAILS OF FIXED ASSETS.- |
|
The subject owns: - Office equipment - Fixtures - Tools
among others. |
|
INSURANCE.- |
|
The subject holds all loss insurance policy with SEGUROS Y
FINANZAS G Y T CONTINENTAL SA (coverage amount and maturity date were not
supplied). |
|
RATE OF EXCHANGE |
US$1.00 = Q.7.74 as of report date |
|
LEGAL
ASPECTS |
|
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
07/02/2007 |
|
REGISTERED IN |
Villanueva |
|
DURATION |
Unlimited |
|
REGISTRATION |
Deed No.15 |
|
LISTED AT STOCK EXCHANGE |
NO |
|
COMMENTS ON LEGAL ASPECTS .- |
|
|
The subject was incorporated on 07/02/2007. Later, on 20/02/20007,
it was registered in the Management Tax Services (SAT). Also, it was
provisionally registered in the Commercial Registry. On 15/03/2007, it was
permanently registered in the Commercial Registry. The subject is registered
in the State Contract and Procurement System of Guatemala and can participate
in any bid or public tender. |
|
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
CHEMICAL PRODUCTS |
|
ISIC CATEGORY |
WHOLESALE AND/OR RETAIL SALE |
|
ISIC CLASS |
5149-Wholesale of Chemical Substances, Textile Fibers,
Manure, etc. |
|
MAIN ACTIVITY |
The subject is engaged in the import, commercialization
and distribution of chemical products in general. Third party brands:
"ALBEMARLE", "ALPHARMA", "EVONIK", "EKA
CHEMICALS", "HUBER", "HUVEPHARMA",
"RANBAXY", "IBERCHEM", among others. |
|
N. OF EMPLOYEES |
55 approximately |
|
LOCATION |
|
DOMICILE FOR TAX PURPOSES, ADMINISTRATIVE OFFICES,
COMMERCIAL OFFICE & WAREHOUSES: Located at captioned address, in commercial
zone of easy access. Two-story premises property of CORPORACION QUIRSA SA
(shared offices). |
|
COMMENTS OF OPERATIONS.- |
|
The subject imports from Germany, England, Austria,
Switzerland, China, USA and Japan. Sales are conducted 100% directly. It has
the following product lines: - Pharmaceuticals - Food additives - Cosmetic
additives - Animal health and nutrition - Fragrances Main clients: - COLGATE
PALMOLIVE (Centroamerica) SA. - LABORATORIOS QUIFARMA SA. - LABORATORIOS
RUPHARMA SA - CERVECERIA CENTROAMERICANA SA |
|
BANKERS
/ REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO G & T CONTINENTAL SA |
|
|
|
GUATEMALA |
|
BANCO INDUSTRIAL SA |
|
|
|
GUATEMALA |
|
BANCO AGROMERCANTIL SA |
|
|
|
GUATEMALA |
|
BANK COMENTS |
||||
|
The above banks do not provide information regarding
clients as per bank secrecy. |
||||
|
COMMENTS: Commercial company with 7 years in business, fully
controlled by national capitals. Up to date it has been operating normally
and enjoys good reputation in local circles. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.