MIRA
INFORM REPORT
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Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TEXDEC |
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Registered Office : |
Alta Tensión No. 98, Interior 8, Molino de
Rosas, Álvaro Obregón 01470 |
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Country : |
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Date of Incorporation : |
05.03.1997 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Importer and distributor of textiles (canvas, jacquard, chenille, Korfú, suede with backing, blackout, linen, savanna fabric). |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Mexico |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
MEXICO - ECONOMIC OVERVIEW
Mexico's $1.3 trillion
economy has become increasingly oriented toward manufacturing in the 20 years
since the North American Free Trade Agreement (NAFTA) entered into force. Per
capita income is roughly one-third that of the US; income distribution remains
highly unequal. Mexico has become the United States' second-largest export
market and third-largest source of imports. In 2013, two-way merchandise trade
reached nearly $507 billion. 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
formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current
government, led by President Enrique PENA NIETO, emphasized economic reforms
during its first year in office, passing education, energy, financial, fiscal
and telecommunications reform legislation. The three-party "Pact for
Mexico" reform agenda aims to improve competitiveness and economic growth
across the Mexican economy.
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Source
: CIA |
IDENTIFICATION
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CORRECT COMPANY NAME |
TEXDEC S.A. DE
C.V. |
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TRADE NAME |
TEXDEC |
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TAXPAYER REGISTRATION |
RFC TEX970305HE6 |
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MAIN ADDRESS |
Alta Tensión No. 98, Interior 8, Molino de
Rosas, Álvaro Obregón |
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POSTAL CODE |
01470 |
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DEPT/PROV/REGION/STATE |
Mexico, D.F. |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 56600328 Extension 4107 |
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CORPORATE E-MAIL |
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WEB |
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COMMENTS |
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Other e-mail: lbernal@texdec.com |
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EXECUTIVE SUMMARY
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Date of foundation |
1997 |
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Chief Executive |
JUÁREZ GARCIA, ENRIQUE JESUS |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Financial Situation |
UNDETERMINED |
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Payments policy |
Without rating (No payment experience traced) |
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Credit (**) |
UNDETERMINED RISK.(Insufficient or Non
existent information). |
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Number of times that this company was
required: 1 |
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LEGAL STRUCTURE
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
05MAR1997 |
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PLACE OF REGISTRY |
Mexico, D.F. |
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NOTARY OFFICE |
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DURATION |
99 years |
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CURRENT EXCHANGE RATE (US$) |
Ps$13.21 per USD1.00 |
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DIRECTORS - EXECUTIVES – SHAREHOLDERS
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FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
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JUÁREZ GARCIA,
ENRIQUE JESUS |
General Director |
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GONZALEZ GARCIA, RUBEN |
Deputy General Director |
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BUSINESS HISTORY
TexdecS.A. de CV, was founded on February 1997 with the idea of offering a quality product within the textile industry in America, starting with Mexico; with textures, colors and avant-garde designs of Europe, specifically Spain. Texdec partners, have experience of over 20 years in marketing in the Mexican market and more than two generations producing in Spain. |
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BUSINESS
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SIC Classification |
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Main activity |
The company is an importer and distributor of textiles (canvas, jacquard, chenille, Korfú, suede with backing, blackout, linen, savanna fabric). It is also engaged in the import of table linen and bed and production of cloth at base 100% polyester. |
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OPERATIONS |
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Import |
Yes |
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Country |
Countries of North America and
Central-Eastern Europe. |
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Export |
No |
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Comments |
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The company serves the industry from upholstery, drapery, decor and clothing, such as:-Innova Interiorismo y Diseño(33) 15-61-98-79 |
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FINANCIAL INFORMATION
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information provided |
We want to clarify that we do not know what the current situation of the company is.We mention this because currently in the address operates the company STILOTEX SA DE CV (RFC: SIT070206MF2.) which is led by Mr. Enrique Jesus Juarez Garcia (General Director) and Ruben Gonzalez Garcia (Deputy Director) whom we have tried to contact but always Miss Esmeralda says that they are not on company's facilities. Even we were attended by Mr. Alejandro Salgado which denies to declare which position hold within the company STILOTEX SA DE CV and denies knowing Mr. Enrique Jesus Juarez Garcia (General Director) and Ruben Gonzalez Garcia (Deputy Director) and declare that he does not know Miss. Esmeralda and TEXDEC SA DE CV has no relation to STILOTEX SA DE CV In short this person hides that STILOTEX SA DE CV have or had a relationship with TEXDEC SA DE CV and we do not know the reasons for this denial.Another coincidence that there is or was a relationship between these companies is that the phone number (55) 56600328 and telephone numbers (55) 56642693 and fax number: (55) 56602872 now belong to the company STILOTEX SA DE CV Another coincidence is that in a ICEX directory where mentioned a Spanish company operating in Mexico appears TEXDEC SA DE CV with the address of Alta Tensión No. 98, Interior 8, Col. Molino de Rosas, Delegación Álvaro Obregón, Mexico, D.F., C.P. 01470, phone number (55) 56600328, Fax: (55) 56602872 and a web site: www.stilotex.com.mx information that now belongs to STILOTEX SA DE CVWe have also found the email addresses which are: llozada@texdec.com belongs to Miss. Laura Lozada Alcantara and when asked for STILOTEX SA DE CV told us not to know that person.lbernal@texdec.com belongs to Miss. Leticia Bernal and when asked for STILOTEX SA DE CV told us not to know that person.We've sent another mail to the following addresses: aznartextil@aznartextil.comcontabilidad@stilotex.com.mxinfo@colortex.netAnd they have never responded. These e-mails were regarding if they had relationship to TEXDEC SA DE CV and if so what kind of relationship is and what phone number we could contact TEXDEC SA DE CVWe have not sent mail to providers MANAO TEXTILES SL and STYLTELA S. L. because such companies are liquidated. We have also called the SPANISH CHAMBER OF COMMERCE AC (CAMESCON) where they stated that STILOTEX SA DE CV is their partner and do not know TEXDEC SA DE CV Regarding the lawsuit it has with GRUPO BLINDTEX S.A. DE C.V.CV we proceeded to contact that company but say it is an internal matter and they cannot give details. Regarding to the fax number: (55) 56600271 no one answers us (this data is in the application of the report). In short we do not know what the current situation of TEXDEC SA DE CV is, if liquidated, merged or name change. |
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FINANCIAL SITUATION |
UNDETERMINEDWe estimate that Subject's financial Situation is INDETERMINATE, since we do not have financial statements that allow an accurate analysis of its results in its last financial year. |
TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
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(Confidential Information) |
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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No reported banking debt. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.75 |
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1 |
Rs.100.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.