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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
TECNOMYL |
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Registered Office : |
Avda. Aviadores del Chaco 3301, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Liability Limited Company |
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Line of Business : |
Import, Manufacture and Commercialization of Agrochemicals. |
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No. of Employees : |
316 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Paraguay |
B1 |
B2 |
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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 |
PARAGUAY - ECONOMIC OVERVIEW
Landlocked Paraguay has a
market economy distinguished by a large informal sector, featuring re-export of
imported consumer goods to neighboring countries, as well as the activities of
thousands of microenterprises and urban street vendors. A large percentage of
the population, especially in rural areas, derives its living from agricultural
activity, often on a subsistence basis. Because of the importance of the
informal sector, accurate economic measures are difficult to obtain. On a per
capita basis, real income has stagnated at 1980 levels. The economy grew
rapidly between 2003 and 2008 as growing world demand for commodities combined
with high prices and favorable weather to support Paraguay's commodity-based
export expansion. Paraguay is the sixth largest soy producer in the world.
Drought hit in 2008, reducing agricultural exports and slowing the economy even
before the onset of the global recession. The economy fell 3.8% in 2009, as
lower world demand and commodity prices caused exports to contract. The
government reacted by introducing fiscal and monetary stimulus packages. Growth
resumed at a 13% level in 2010, the highest in South America, but slowed in
2011-12 as the stimulus subsided and severe drought and outbreaks of
foot-and-mouth disease led to a drop in beef and other agricultural exports.
The economy took another leap in 2013, largely due to strong export growth.
Political uncertainty, corruption, limited progress on structural reform, and
deficient infrastructure are the main obstacles to long-term growth.
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Source
: CIA |
TECNOMYL S.A.
R.U.C. Nº.: 80005230-7
INCORPORATED IN 1991, BEGINNER OF THE ACTIVITIES. BALANCE SHEET AT 31/12/2013
AND 31/12/2012. NO NEGATIVE ANTECEDENTS. APT FOR NEW CREDITS AND ADDITIONAL
GUARANTEES.
IMPORT, MANUFACTURE AND COMMERCIALIZATION OF AGROCHEMICALS.
BUSINESS TYPE: Liability Limited Company
CONSTITUTED: 1991
TRANSFORMATION: 2008
REGISTERED: CDAD.
DE ASUNCION
DURATION: UNLIMITTED
END OF BALANCE SHEET: 31.12
Mss. Zulmar Carmo Da Silva (Accountant)
Operational and legal address:
Avda. Aviadores del Chaco 3301, Asuncion, Paraguay Republic.
Phone. 595-21 614401
Fax. 595-21 614404
E.Mail: Zulmar@tecnomyl.com.py
Website: tecnomyl@tecnomyl.com.py
President:
SARABIA JOSE MARCOS
Vicepresident: MOCCHI ANIBAL JOSE
Social signature: in charge of the first two mentioned.
The share capital of the company was
established in the sum of 100.000.000.000 Guaranies, that has been totally
suscripto and realized, being observed that the same has been contributed of
the following form:
%
Anibal Jose Mocchi: 50,00
Jose Marcos Sarabia: 30,87
Paulo Cesar Sarabia: 15,13
Antonio Sarabia: 04,00
By mid 1991 it was organized the company TECOMYL S.R.L. integrated
by Anibal Jose Mocchi and Jose Marcos Sarabia.
The same came operating without major variables until end of 2008 in which,
in common agreement between the interested parts the company under commentary
was organized as continuator and that, until the present, is set out in the
address mentioned opportunely.
Of indirect means had access to the
following figures of the balance sheet as 31/12/2013 and 31/12/2012, EXPRESSED
IN GUARANIES.
Change: 1 DOLAR = GUARANIES 4304.-
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Balance Sheet/s |
31/12/2013 |
31/12/2012 |
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Total Assets |
$ 753.539.348.697,00 |
$ 564.569.626.836,00 |
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Current Assets |
$ 700.501.396.273,00 |
$ 512.745.694.875,00 |
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Banks |
$ 0,00 |
$ 0,00 |
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Accounts Receivables |
$ 0,00 |
$ 0,00 |
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Inventory |
$ 0,00 |
$ 0,00 |
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Fixed Assets |
$ 0,00 |
$ 0,00 |
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Non-Current Assets |
$ 53.037.952.424,00 |
$ 51.823.931.961,00 |
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Investments |
$ 0,00 |
$ 0,00 |
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Total Liabilities |
$ 581.221.378.830,00 |
$ 416.609.641.466,00 |
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Current Liabilities |
$ 565.301.578.233,00 |
$ 325.217.911.885,00 |
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Non-Current Liabilities |
$ 15.919.800.597,00 |
$ 91.391.729.581,00 |
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StockHolders Equity |
$ 172.317.969.867,00 |
$ 147.959.985.370,00 |
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Net Sales |
$ 432.445.789.070,00 |
$ 350.757.240.314,00 |
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Cost of Good Sold |
$ 5.236.638.746,00 |
$ 6.093.353.310,00 |
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Gross Result |
$ 427.209.150.324,00 |
$ 344.663.887.004,00 |
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Administrative Expenses |
$ 414.284.442.768,00 |
$ 333.194.051.513,00 |
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Selling Expenses |
$ 0,00 |
$ 0,00 |
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Financial Income |
$ 0,00 |
$ 0,00 |
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Other Expenses |
$ 0,00 |
$ 0,00 |
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Final Result |
$ 12.924.707.556,00 |
$ 11.469.835.491,00 |
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Indexes |
31/12/2013 |
31/12/2012 |
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Current Ratio |
123,92 % |
157,66 % |
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Quick Ratio |
123,92 % |
157,66 % |
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Short Term Indebtedness |
328,06 % |
219,80 % |
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Debt to Equity Ratio |
337,30 % |
281,57 % |
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Long Term Assets to Total Assets |
7,04 % |
9,18 % |
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Fixed Assets to Equity |
0,00 % |
0,00 % |
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Total Assets to Total Liabilities |
129,65 % |
135,52 % |
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Debt Ratio |
77,13 % |
73,79 % |
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Equity Ratio |
22,87 % |
26,21 % |
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Investments to Assets Ratio |
0,00 % |
0,00 % |
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Current Investment |
92,96 % |
90,82 % |
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Stocks Aging Days |
0,00 días |
0,00 días |
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Day Sales |
0,00 días |
0,00 días |
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Trade Debtors To Assets |
0,00 % |
0,00 % |
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Total Assets Turnover |
57,39 % |
62,13 % |
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Net Worth Aging |
250,96 % |
237,06 % |
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Fixed Assets Aging |
Infinito % |
Infinito % |
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Gross Profit |
1,21 % |
1,74 % |
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Financial Expenses on Sales Ratio |
0,00 % |
0,00 % |
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Commercial Exp. on Sales Ratio |
0,00 % |
0,00 % |
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Administrative Exp. on Sales Ratio |
95,80 % |
94,99 % |
BUILDINGS:
---------
Within the fixed assets of the company, the real estate that occupies in their
managements, of good value of realization is included.
It has not been possible to take contact with corresponding documentation, like
verifying if these goods are free of burdens.
ROLLINGS:
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Account with a fleet of 35 movable units affected to the turn of its businesses
and on which majors are precisions not obtained.
AGROFERTIL S.A.
OXITENO S.A. (BRASIL)
CLARIANT (BRASIL)
Payments: 90 days
Credits: u$s 2.500.000
Concept: normal
Society engaged to the import, export,
production and commercialization of agrochemical products. (fungicides,
herbicides and insecticides).
It has an appropiated infrastructure, where its directives are in charge of the
organization, with the necessary specialized employees.
It realize imports from Argentina, Brazil, China, Holland, Germany, Israel,
Japan and India.
Most of Its production satisfies the needs of the national market, being
notorious that 20% of the same are exported to Bolivia, Colombia, Brazil,
Argentina and Mexico.
In Paraguay is the number one in sales, with the 26% of participation. In the
national market is the ranking among the two first companies, with a higher
percentage of sale.
It has a research laboratory in Cordoba (Argentina), where it realizes new
formulas and innovations.
REGULAR SUPPLIERS:
------------------
OXITENO S.A. (BRAZIL)
CLARIANT (BRAZIL)
* 316 employees
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Production plant: |
> BANCO REGIONAL S.A.
> BANCOP S.A.
> CONTINENTAL S.A.
> VISION S.A.
> ATLAS S.A.
INSURANCE:
-------
MAPFRE S.A..
LA RURAL CIA.DE SEGUROS S.A.
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It is commercially related with companies
of that and other places, among which they offer their credit support without
making until the moment objections on the modes of payment that sustains. |
We believe that this is finally a society which
continued can be linked in credit operations, in moderate amounts of economic
level, with the request for guarantees.
* FIT FOR NEW CREDITS.
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.