|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CONSORCIO ABUCHAIBE SAS |
|
|
|
|
Registered Office : |
Calle 76 # 70-34, |
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|
|
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Country : |
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|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
24.10.1988 |
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|
|
|
Legal Form : |
Simplified Joint Stock Company |
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|
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Line of Business : |
Manufacturing of clothing items for men and women |
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|
|
|
No of Employees : |
120 |
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 |
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|
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Colombia |
B1 |
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 |
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 |
||
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COMPANY NAME |
CONSORCIO
ABUCHAIBE SAS |
|
|
TAX ID TYPE |
NIT |
|
|
TAX ID NUMBER |
8000483731 |
|
|
CURRENT STATUS |
Active |
|
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MAIN ADDRESS |
Calle 76 # 70-34 |
|
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CITY/PROVINCE/STATE |
Barranquilla, Atlantico |
|
|
PHONE NUMBER(S) |
(57-5) 353.1019 |
|
|
FAX NUMBER |
(57-5) 353.1019 |
|
|
E-MAIL |
contador@consorcioabuchaibe.com |
|
|
WEB SITE |
www.consorcioabuchaibe.com |
|
|
CR-RATING |
LOW RISK |
|
|
PAYMENT HISTORY |
WITHOUT CREDIT EXPERIENCE |
|
|
LEGAL ASPECTS |
||
|
LEGAL STATUS |
Simplified Joint Stock Company |
|
|
INCORPORATION DATE |
24/10/1988 |
|
|
REGISTERED IN |
Barranquilla |
|
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DURATION |
03/05/2048 |
|
|
NOTARY OFFICE |
No. 4 |
|
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BACKGROUND (HISTORY).- |
||
|
It was established as a Stock Company under company name CONSORCIO ABUCHAIRE
SA. By Public Deed No. 446 dated 04/02/1994, Notary 4 Barranquilla, it
changed into Limited Liability Partenership under the company name CONSORCIO
ABUCHAIRE LTDA. Later by Public Deed No. 479, dated 05/03/1998, Notary 4
Barranquilla, it changed into Simplified Joint Stock Company . |
||
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
ABUCHAIBE SLEBI, NICOLAS ELIAS |
Director/Editorial Advisory Board |
|
|
ABUCHAIBE SLEBI, GABRIEL JORGE |
Director/Editorial Advisory Board |
|
|
ABUCHAIBE SLEBI, IVAN NICOLAS |
Director/Editorial Advisory Board |
|
|
GARCIA AHUMADA, JAIME |
Sales Director |
|
|
PUCHE GOMEZ, MANUEL |
Systems Chief |
|
|
ECHEVERRIA RUMIE, ARMANDO |
Credit Chief |
|
|
MERINO SANDOVAL, JULIA MARIA |
Tax Inspector |
|
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CUETO ALMEIDA, NORBERTO |
Accountant |
|
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DAVID ENRIQUE, CERPA GARCIA |
Accountant |
|
|
MENDEZ, SANTIAGO |
Accounting Auxiliary |
|
No negative information found.
|
NET WORTH |
Ps$10,962,745,000.00 Colombian Pesos (as of 31/12/2013) |
|
TYPE OF SHARES |
Registered stock |
|
LISTED AT STOCK EXCHANGE |
NO |
|
SHARE VALUE |
Ps$1,000.00 Colombian Pesos |
|
IMPORTS |
|
|
YEAR |
2014 (January - July) |
|
AMOUNT |
US$ 105,230.34 |
|
|
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 636,233.98 |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 50,345.72 |
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
SUPREME TEX MART LIMITED |
|
(161)2600593 |
INDIA |
N/a
|
FINANCIAL INFORMATION |
|
CONTENT.- |
|
We had an interview with Mr. Santiago Mendez (Accounting Auxiliary)
who provided commercial and financial information of the subject, including
its Balance Sheet as of 31/12/2013 (12 months), expressed in Colombian Pesos,
as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2013 |
|
|
|
Currency |
Colombian Peso |
|
|
|
Exchange Rate |
1,917.40 |
|
|
|
.Current Total |
10,492,576,000.00 |
|
|
|
.Net Fixed |
2,681,558,000.00 |
|
|
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.Total Assets |
13,174,134,000.00 |
|
|
|
.Total Current Liabilities |
2,211,389,000.00 |
|
|
|
Total Liabilities |
2,211,389,000.00 |
|
|
|
Total Equity |
10,962,745,000.00 |
|
|
|
Total Liabilities and Equity |
13,174,134,000.00 |
|
|
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2013 |
|
|
|
Currency |
Colombian Peso |
|
|
|
Exchange Rate |
1,917.40 |
|
|
|
Net Sales |
6,437,208,000.00 |
|
|
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Gross Profit |
1,518,292,000.00 |
|
|
|
.Operating Profit |
379,268,000.00 |
|
|
|
Fiscal Year Result before distribution |
434,163,000.00 |
|
|
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Net Income(Net Loss) |
320,219,000.00 |
|
|
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,013.00 |
|
|
|
.NET WORKING CAPITAL |
8,281,187,000.00 |
|
|
|
.LIQUIDITY RATIO |
4.74 |
|
|
|
.CONTENTS OF THE ACID TEST |
0.00 |
|
|
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.INDEBTEDNESS |
5.96 |
|
|
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.LIABILITIES, CAPITAL |
0.00 |
|
|
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.TOTAL ASSET TURNOVER |
0.49 |
|
|
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.RETURN ON EQUITY |
0.00 |
|
|
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.NET RETURN ON SALES |
0.00 |
|
|
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FINANCIAL COMMENTS.- |
|||
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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 |
|||
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DETAILS OF FIXED ASSETS.- |
|||
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- Sewing machines - Embroidery machines - Vehicles - Office furniture
and equipment - Tools |
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INSURANCE.- |
|||
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It holds an insurance policy against all risks with LIBERTY SEGUROS
SA. (Coverage amount and maturity date were not supplied). |
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CREDIT FILES |
|||
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Possible local suppliers do not provide information on clients on
grounds of confidentiality. |
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RATE OF EXCHANGE |
US$1.00 = Ps$1938.70 as of report date |
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OPERATIONS |
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SECTOR |
1.-INDUSTRY |
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ACTIVITY |
CLOTHING |
|
ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION,
PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
1810-Manufacturing: Garments |
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MAIN ACTIVITY |
Manufacturing of clothing items for men and women. Brands:
"GAVALLINI, "OPTIMO", "TELARY" |
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% CASH SALES/PAYMENT METHOD |
20% |
|
% CREDIT SALES/TERMS |
80% (at 30 days) |
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TERRITORY OF SALES |
Local and foreign market |
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N. OF EMPLOYEES |
120 (approximately) |
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LOCATION |
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MAIN OFFICES: Located at the heading address, in an industrial zone of
the city. |
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COMMENTS OF OPERATIONS.- |
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The subject operates 100% directly. It imports from USA, El Salvador, India,
Italy, Chile, Ecuador and Egypt through credit at 90 days. Major clients
include wholesalers and retail salers. Its sales territory includes:
Colombia, Ecuador and Venezuela. Main products: Pants, towels, uniforms,
hammocks, lingerie, among others. Main competitors: - UNIFORMES INDUSTRIALES
SA - CREACIONES MARLIA SAS |
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BANKERS / REFERENCE |
||||
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO DAVIVIENDA SA |
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|
|
COLOMBIA |
|
BANCCO DE COLOMBIA SA |
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COLOMBIA |
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BANK COMENTS |
||||
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Consulted banks do not provide information on clients as per bank
secrecy. |
||||
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.