MIRA INFORM REPORT

 

 

Report Date :

29.10.2014

 

IDENTIFICATION DETAILS

 

Name :

MOLINOS DE GUADALUPE S.A.

 

 

Registered Office :

Ugal De Guadalupe De La Iglesia Catolica 300 Mts Al Norte San Jose

 

 

Country :

Costa Rica

 

 

Date of Incorporation :

1985

 

 

Legal Form :

Sociedad Anónima

 

 

Line of Business :

Subject is engaged in the import, manufacture and distribution of spices and flavorings.

 

 

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.

 

COSTA RICA - ECONOMIC OVERVIEW

 

Prior to the global economic crisis, Costa Rica enjoyed stable economic growth. The economy contracted 1.3% in 2009 but resumed growth at about 4.5% per year in 2010-12. While the traditional agricultural exports of bananas, coffee, sugar, and beef are still the backbone of commodity export trade, a variety of industrial and specialized agricultural products have broadened export trade in recent years. High value-added goods and services, including microchips, have further bolstered exports. Tourism continues to bring in foreign exchange, as Costa Rica's impressive biodiversity makes it a key destination for ecotourism. Foreign investors remain attracted by the country's political stability and relatively high education levels, as well as the incentives offered in the free-trade zones; and Costa Rica has attracted one of the highest levels of foreign direct investment per capita in Latin America. However, many business impediments remain, such as high levels of bureaucracy, legal uncertainty due to overlapping and at times conflicting responsibilities between agencies, difficulty of enforcing contracts, and weak investor protection. Poverty has remained around 20-25% for nearly 20 years, and the strong social safety net that had been put into place by the government has eroded due to increased financial constraints on government expenditures. Unlike the rest of Central America, Costa Rica is not highly dependent on remittances as they only represent about 2% of GDP. Immigration from Nicaragua has increasingly become a concern for the government. The estimated 300,000-500,000 Nicaraguans in Costa Rica legally and illegally are an important source of mostly unskilled labor but also place heavy demands on the social welfare system. The US-Central American-Dominican Republic Free Trade Agreement (CAFTA-DR) entered into force on 1 January 2009 after significant delays within the Costa Rican legislature. CAFTA-DR has increased foreign direct investment in key sectors of the economy, including the insurance and telecommunications sectors recently opened to private investors. President CHINCHILLA was not able to gain legislative approval for fiscal reform, her top priority, though she continued to pursue fiscal reform in 2012. President CHINCHILLA and the PLN were successful in passing a tax on corporations to fund an increase for security services.

 

Source : CIA

 

 

 

 

NOTE:-

 

The name provided in the order is not that of a company. The name of the company is the one provided in the address.

 

STATUTORY INFORMATION

 

 

Legal Name:

MOLINOS DE GUADALUPE S.A.

Trade Name:

Molinos de Guadalupe

Cédula Jurídica (Tax Number):

3-101-132640

Date Created:

1985

Date Incorporated:

1985   

Legal Address:

UGAL DE GUADALUPE DE LA IGLESIA CATOLICA 300 MTS AL NORTE SAN JOSE COSTA RICA

Operative Address:

UGAL DE GUADALUPE DE LA IGLESIA CATOLICA 300 MTS AL NORTE SAN JOSE COSTA RICA

Telephone:

(506) 2285-0320

Fax:~

(506) 2285-1380

Legal Form:

Sociedad Anónima

Email:

gerencia@molinosguadalupe.com

Registered in:

Costa Rica

Website:

www.molinosguadalupe.com

Manager:

Mariano Padilla

Staff:

15

Activity:

Flavoring, Spice Manufacturing

SIC Codes:

2087

NAICS Codes:

311942

 

 

BANKS

 

 

 

Name of the Bank:

Banco Nacional de Costa Rica

 

 

 

The company does not make its banking information public

HISTORY

 

 

The compnay was founded in 1985 by Mr. Franklin Padilla Castro

 

PRINCIPAL ACTIVITY

 

 

The company is engaged in the import, manufacture and distribution of spices and flavorings.


In addition, the company offers milling services for the food industry.

In 2002 the company started  the research and development project for the development of specific flavorings for the food industry in the fields of:

Meat

Baking and Pastry

Snacks
Poultry
Specific Flavors

Products/Services description:

CUMIN
CORIANDER
MARJORAM
CINNAMON
CLOVE
ACHIOTE
CARDAMON
BRADING
MIX
ANTIOXIDANTS
PICKLE
SAPS
CONDIMENTS FOR SNACKS

HERBS
FLAVORS
BAKING
SAUCES
SOUPS

Trademarks:

Molinos de Guadalupe

Sales are:

Wholesae

Clients:

Supermarkets

One of its client is:


Wal-Mart Supermarket

Competitors:

Mundo de las Especias

Fabrica de Especias La India

Industria Los Patitos

Suppliers:

The person contacted refused to provide suppliers information.

Operations area:

National

The company imports from

INDIA

The company does not export

 

The subject employs

15 people

Payments:

Regular

 

 

LOCATION

 

Headquarters :

UGAL DE GUADALUPE DE LA IGLESIA CATOLICA 300 MTS AL NORTE SAN JOSE COSTA RICA

Branches:

The company does not have branches

Business Overview:

Companies in this industry manufacture fresh or dehydrated herbs and spices, as well as food flavorings and extracts. Products include chili powder, table salt, and spice mixtures, along with dry food mixes, such as gravy and salad dressing preparations. Makers of dry soup mixes and bouillon are covered separately.

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

Listed at the stock exchange:

NO

Capital:

NA

Shareholders %:

This is a private company. The main shareholder is:


Francklin Padilla

Management:

Francklin Padilla, Owner

Mariano Padilla, Manager

Nazaret Quevedo, Sales

Subsidiary Companies:

The company does not have subsidiaries

 

 

 

 

FINANCIAL INFORMATION

 

This is a private company. It does not make its financial figures public.  This information has been provided by outside sources and it is estimated.

 

 

Currency

USD

Year

2013   

Revenue

2 500 000

Cash Flow

NORMAL

 

 

 

 

LEGAL FILINGS

 

 

There are no legal/criminal connected to the subject.

 

 

SUMMARY

 

 

Molinos de Guadalupe S.A. is a small Costa Rican company dedicated to the manufacture of spices and flavours.


The company provides its products to supermarkets and works for well-known supermarket clients.


It is active and has 29 years of experience in the market.


It has been managed by its founder since it was created.


There are no negative.

 

RISK INFORMATION

 

 

 

Status

ACTIVE

Payments

Regular

Cash

Normal

Indebtedness

Controlled

 

 

CALL

 

INTERVIEWEE

NAZARET QUEVEDO

POSITION

SALES

COMMENTS

The person contacted confirmed shareholders, managers, activity, address, imports. She refused to provide suppliers or financial data.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.35

UK Pound

1

Rs.98.93

Euro

1

Rs.77.92            

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

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%)

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