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Report No. : |
314582 |
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Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
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Name : |
COMPAŅIA PROCESADORA DE NIQUEL DE IZABAL SA |
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Registered Office : |
Avenida Reforma 9-55, Zona 10, Edificio Reforma 10, Piso 6, Oficina 603 |
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Country : |
Guatemala |
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Date of Incorporation : |
03.09.2013 |
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Legal Form : |
Stock Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRAs 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 : |
Relatively New Business |
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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 December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Guatemala |
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 |
COMPAŅIA PROCESADORA DE NIQUEL DE IZABAL SA |
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TRADE NAME |
PRONICO |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
8355700-8 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Avenida Reforma 9-55, Zona 10, Edificio Reforma
10, Piso 6, Oficina 603 |
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CITY/PROVINCE/STATE |
Ciudad de Guatemala |
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PHONE NUMBER(S) |
(502) 2419.0200 |
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E-MAIL |
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WEB SITE |
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LEGAL
ASPECTS |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
03/09/2013 |
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REGISTERED IN |
Guatemala City |
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DURATION |
Undefined |
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REGISTRATION |
Deed No. 3 |
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COMMENTS
ON LEGAL ASPECTS |
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On 03/09/2013, the subject was constituted
through Deed No. 3. On 13/09/2013, it was provisionally registered in the
Commercial Registry of Guatemala. At the same date, it was registered in the
Tax Administration Superintendency (SAT). On 03/10/2013, it was definitively
registered in the Commercial Registry of Guatemala. It is registered in the
Recruitment and Procurement System of Guatemala State. The Guatemalan company
COMPAŅIA GUATEMALTECA DE NIQUEL SA (NIT 33588-6) transfers all the rights and
processes of the iron nickel production plant to the subject, since
01/05/2014. According to Resolution No. DGLEX-06-2015 issued by Ministry of
Energy and Mines, dated 12/01/2015, the subject is authorized to export
540,000 metric tons of ore with minerals of iron and nickel and 150,000
metric tons of ferro nickel addressed to Africa, America, Asia, and Oceania
for a One-year term. |
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BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB
TITLE |
%
STAKE |
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PELLECER LOPEZ, CARLOS RAFAEL |
Legal Representative |
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RIVERA LAYLLE DE CEREZO, MYRNA REGINA |
Legal Representative |
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No negative information found.
N/A
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% CASH SALES/PAYMENT METHOD |
50% |
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% CREDIT SALES/TERMS |
50% (terms at 30 and 60 days) |
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TERRITORY OF SALES |
National market and abroad. |
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RELATED COMPANIES |
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NAME |
TAX ID. NUMBER |
COUNTRY |
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COMPAŅIA GUATEMALTECA DE NIQUEL SA |
33588-6 |
GUATEMALA |
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SOLWAY INVESTMENT GROUP LIMITED |
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RUSSIA |
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COMMENTS
RELATED COMPANIES |
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Subject belongs to SOLWAY GROUP from
Russia, private business group with mining activities (basic metals, non ferrous).
Below, we mention some of related companies: |
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FINANCIAL
INFORMATION |
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CONTENT.- |
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Since subject's main executives were not
available to attend us due to have a very tight agenda ; this report was entirely
elaborated with the information provided by outside sources. However, they
did not provide us with subject's financial data, either. Subject is an
industrial company constituted in 2013 which operations seem to be conducted
normally. COUNTRY CONTEXT - GUATEMALA: The below information has been
obtained from a highly regarded public source that issues comments on all of
worlds? countries. Taxes: ˇ Guatemalan income tax: 5% on the net
profit-business: ˇ Alphabetic currency code for every country by the
International Organization for Standardization (ISO) 4217:Quetzal (GTQ). Main
economic indicators: ˇ External debt: US$17.67 billion (31 December 2013
est.) ˇ International net reserves: US $7.118 billion (31 December 2013 est.)
ˇ Inflation rate : 4.4% (2013 est.) ˇ GDP real growth rate: 3.3% (2013 est.)
ˇ 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.) ˇ
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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- Office equipment - Tools, items, among
others. |
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INSURANCE.- |
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It holds an insurance policy with an unspecified
insurance carrier. (Neither coverage amount nor maturity date has been
disclosed). |
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CREDIT
FILES |
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Names of possible suppliers were not found.
Possible local consulted suppliers did not report the subject as a client
using credit terms payment. |
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RATE OF EXCHANGE |
US$1.00 = Q.7.63 |
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LISTED AT STOCK EXCHANGE |
NO |
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WHO
IS WHO? |
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PELLECER LOPEZ, CARLOS RAFAEL |
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Guatemalan, NIT, 17325137, Lawyer, . |
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OPERATIONS |
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SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
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ACTIVITY |
IRON |
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ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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MAIN ACTIVITY |
Extraction, commercialization and export of
iron and nickel. . |
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N. OF EMPLOYEES |
300 approximately |
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LOCATION |
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ADMINISTRATIVE OFFICES: Located at the
above address in a commercial zone of the city with easy access routes. Kept
in good repair. PLANT: Km. 5 Ruta Nacional Siete "E" (RN-7E),
Municipio de El Estor, Departamento de Izabal. |
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COMMENTS
OF OPERATIONS.- |
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Clients: - Ministerio de Salud Pública -
(Ministry of Public Health). - Ministerio de Comunicaciones, Infraestructura
Y Vivienda - (Ministry of Communications, Infrastructure and Housing -
Organizaciķn Internacional para las Migraciones - (International Organization
for Migration) |
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BANKERS
/ REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO G&T CONTINENTAL SA |
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GUATEMALA |
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BANK COMENTS |
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Consulted bank did not provide information on
clients as per bank secrecy. |
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N/A
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.59 |
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|
1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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
SCs 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.