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Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ALAMEDA INDUSTRIES SA |
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Registered Office : |
1era Ave. La Brigada No 13-30 Parque Industrial Bodega No 3 - Zona 7 Colonia San Ignacio Mixco CP. 65292 |
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Country : |
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Date of Incorporation : |
01.04.2009 |
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Legal Form : |
Stock Company |
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Line of Business : |
Import, trade, distribution, representation, confection, manufacture of clothing such as pants, cotton shors and sythetic fiber for women, girls, blouses of plain textile of synthetic fiber (cotton and man-made fiber) trousers, shorts, among others. |
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No. of Employees : |
1,000 (Approximately) |
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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B1 |
B1 |
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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 |
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.
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Source
: CIA |
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IDENTIFICATION |
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COMPANY NAME |
ALAMEDA INDUSTRIES SA |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
6547106-7 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
1era Ave. La Brigada No 13-30 Parque Industrial Bodega No 3 - Zona 7 Colonia San Ignacio Mixco |
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CITY/PROVINCE/STATE |
CP. 65292 - Guatemala |
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PHONE NUMBER(S) |
(502) 2437.5321 |
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FAX NUMBER |
(502) 2431.5857 |
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WEB SITE |
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COMMENTS OF IDENTIFICATION.- |
This report was ordered as: ALMEDA INDUSTRIES. Please be advised that the correct company name is as mention in the heading. Also, this report was requested with address: Avenida La Brigada 13-30 7 de Mixco Colonia San Ignacio Bodega 3 Guatemala. Please note that the correct address is as shown in caption. |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
01/04/2009 |
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REGISTERED IN |
Ciudad de Guatemala |
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DURATION |
Unlimited |
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REGISTRATION |
Deed No. 124 |
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COMMENTS ON LEGAL ASPECTS .- |
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On 01/04/2009, subject was established through Deed No 124 On 07/04/2009, it was provisionally registered at Mercantile of Guatemala. On 07/04/2009, it was registered in the Superintendency of Tax Administration (SAT). On 09/04/2009, it was definitely registered at Mercantile of Guatemala. Subject is member of the Association of Clothing and Textile Industry (VESTEX) We could not obtain the percentage of shareholding. |
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BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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MASTERS, BRUCE |
Manager |
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SANTOS CASTELLANOS, JOSE JACOBO |
Legal Representative |
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HEVER GUILLERMO |
Auditor |
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SANTOS CASTELLANOS, JOSE JACOBO |
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NIT 15167232, . |
No negative information given.
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LISTED AT STOCK EXCHANGE |
NO |
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% CASH SALES/PAYMENT METHOD |
10% |
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% CREDIT SALES/TERMS |
90% (terms at 15,30,60 days) |
NA
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FINANCIAL
INFORMATION |
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CONTENT.- |
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We interviewed Mr. Bruce Masters (Manager) who kindly supplied commercial and general information on the subject, except for financial figures per confidentiality policies. Therefore, this report was complemented with data from external sources. No financial figures were obtained, though. Subject's financial year closes each December, 31. COUNTRY CONTEXT - GUATEMALA: The below information has been obtained from a highly regarded public source that issues comments on all of worlds? 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.) * Labour force 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 |
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DETAILS OF FIXED ASSETS.- |
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Subject counts with: - Plant, buildings - Cutting tables - Machines and washing, dying, drying machines, cauldrons - Extractors, sewing, embroidery and iron machines - Office equipment, basic goods, tools, among others |
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INSURANCE.- |
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Subject holds an all-risk insurance policy with an unknown insurance company. (Unspecified coverage amount and maturity date). |
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CREDIT FILES |
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Possible local suppliers did not report subject as a client. |
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RATE OF EXCHANGE |
US$1.00 = Q.7.72 (as of report date) |
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OPERATIONS |
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SECTOR |
1.-INDUSTRY |
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ACTIVITY |
CLOTHING |
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ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION, PUBLISHING, CASTING, CONSTRUCTION) |
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MAIN ACTIVITY |
Import, trade, distribution, representation, confection, manufacture of clothing such as pants, cotton shors and sythetic fiber for women, girls, blouses of plain textile of synthetic fiber (cotton and man-made fiber) trousers, shorts, among others |
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TERRITORY OF SALES |
At national and international level |
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% LOCAL PURCHASING |
20% |
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% FOREIGN PURCHASING |
80% |
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N. OF EMPLOYEES |
1,000 (approximately) |
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ADMINISTRATIVE OFFICES, PLANT AND WAREHOUSE: Located at captioned address in industrial area of the city. Spacious premises with easy access routes and in good repair. No branches were found. |
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COMMENTS OF
OPERATIONS.- |
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Subject is part and supplier through public tenders and acquisitions in institutions and state companies. Subject imports from USA, Canada, Italy, Germany, China, Hong Kong, Taiwan, among others. It exports to Central America and USA. Purchasing are settled 100% on credit at 15,30,60 days. |
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Name |
Contact |
Telephone/fax |
Country |
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LAURA SHOPPE PV INC |
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(1-450) 973.6090 |
CANADA |
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LOL IMPORT INC |
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U.S.A. |
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SPECTRA WORLDWIDE LLC |
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+971 4 3591196 |
U.S.A. |
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YM INC. (SALES) COMPANY |
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(416) 789-1071 |
U.S.A. |
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Q AND S CO. LTD |
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886-2-2557-1629 |
TAIWAN |
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SHAOXING CAVALRY TEXTILE CO., LTD. |
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CHINA |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO PROMERICA, S.A. |
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GUATEMALA |
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BANCO DE AMERICA CENTRAL, S.A. (BAC) |
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GUATEMALA |
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BANCO CITIBANK DE GUATEMALA, S.A. |
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GUATEMALA |
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BANCO G& T CONTINENTAL, S.A. |
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GUATEMALA |
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BANK COMENTS |
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Consulted Banks did not provide information on their clients per bank secrecy. |
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CREDIT OPINION |
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Industrial company with over 5 years in the market an normal operations conducted. No detrimental records were found. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.81 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
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Analysis Done by
: |
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.