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Report No. : |
317258 |
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Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
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Name : |
QUIMICOS FINOS SA |
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Registered Office : |
18 Avenida A 0-27 Zona 15 Vista Hermosa 2, Apdo.2, Ciudad de |
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Country : |
Guatemala |
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Date of Incorporation : |
04.11.1998 |
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Legal Form : |
Stock Company |
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Line of Business : |
Subject is engaged in sale and distribution of raw materials, chemical
products |
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No. of Employee : |
20 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
QUIMICOS
FINOS SA |
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TRADE NAME |
QUIMICOS FINOS |
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TAX ID TYPE |
NIT |
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TAX ID NUMBER |
4914218-6 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
18 Avenida A 0-27 Zona 15 Vista Hermosa 2 |
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CITY/PROVINCE/STATE |
Apdo.2, Ciudad de Guatemala |
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PHONE NUMBER(S) |
(502)2365.6420 / 2369.1545 |
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FAX NUMBER |
(502)2369.1545 |
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E-MAIL |
info@quimicosfinos.com.gt |
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E-MAIL |
quimicosfinos@gmail.com |
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PAYMENT HISTORY |
EP. E: WITHOUT CREDIT EXPERIENCE |
LEGAL
ASPECTS
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
04/11/1998 |
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REGISTERED IN |
Guatemala City |
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DURATION |
Unlimited |
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REGISTRATION |
Deed 74 |
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INITIAL CAPITAL |
Q.5,000.00 Quetzales |
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PAID-UP CAPITAL |
Q.5,000.00 Quetzales |
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LAST CAPITAL INCREASE |
Without increase (latest known) |
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TYPE OF SHARES |
Registered stock |
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COMMENTS ON LEGAL ASPECTS .- |
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On 04/11/1998, it was constituted by Deed
No.74. On 19/11/1998, it was registered provisionally in the Commercial Registry
of Guatemala as well as it was registered in the Superintendence of Tax
Administration - SAT. On 05/01/1999, it was permanently registered in the
Commercial Registry of Guatemala. |
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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BARILLAS, JULIO |
General Manager |
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GUIROLA, ALEJANDRO |
Sales Manager |
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LUNA SAGASTUME , MARA CAROLINA |
Legal Proxy |
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GIRÓN, JOSÉ VÍCTOR |
External Accountant |
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MANCILLA M., PAMELA |
Management Assistant |
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No negative information found.
N/a
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FOREIGN SUPPLIERS |
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Name |
Contact |
Telephone/fax |
Country |
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IFFECT CHEMPHARM |
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CHINA |
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SHANGAI PHARMEDICAL CO.LTD. |
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CHINA |
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FERSINSA GB SA DE CV |
Brenda Gonzalez |
(52-84)4450.0015 |
MEXICO |
N/a
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FINANCIAL INFORMATION |
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CONTENT.- |
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When contacting Subject, we interviewed Mr.
Julio Barillas (General Manager), who only furnished partial information
declining to disclose financials per confidential reasons. He added that
Subject´s providers already have the necessary information concerning. Upon
our insistence, he only stated we should submit our request by written in
order to be assessed; however, no reply was received so far. It must be
pointed out that in order to elaborate this report we have also collected
information from external sources from which no Subject´s financials was
possible to find. The Subject is a company established in 1998. and from
which no detrimentals which may damage its trade reputation were found.
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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- computer equipment - office equipment -
premises located at captioned address - surveillance camera |
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INSURANCE.- |
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The subject holds policy of full coverage
with insurance carrier: SEGUROS G Y T SA. Insurance is valid until December
2015. (No coverage amount was supplied) |
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CREDIT FILES |
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Local suppliers do not report subject as
user of credit facilities. Since its purchases come from abroad. One of suppliers
below just confirmed the subject as client. No more details were supplied. |
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RATE OF EXCHANGE |
US$1.00 = Q.7.66, as of report date |
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LISTED AT STOCK EXCHANGE |
NO |
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OPERATIONS |
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SECTOR |
2.-TRADE (WHOLESALE) |
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ACTIVITY |
CHEMICAL PRODUCTS |
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ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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ISIC CLASS |
5231-Retail Sales of Pharmaceutical
Products, Toiletries and Cosmetics (Drugstores-Pharmacies) |
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MAIN ACTIVITY |
The subject is engaged in sale and
distribution of raw materials, chemical products for industry in general,
such as pharmaceutical, food, veterinary, cosmetics and chemical industry. |
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% CASH SALES/PAYMENT METHOD |
30% |
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% CREDIT SALES/TERMS |
70% (Terms at 180 days) |
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TERRITORY OF SALES |
100% (national market) |
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% FOREIGN PURCHASING |
100% |
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N. OF EMPLOYEES |
20 approximately |
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LOCATION |
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ADMINISTRATIVE OFFICE, SALES OFFICE AND WAREHOUSE:They
are located at captioned address. It is a two-story building on grounds of
400 sq.m.,in a semi-industrial zone of the city. Previously, it was located
at 2 Calle 38-41 Zona 7 Villa Del Pedregal - Guatemala. |
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COMMENTS OF OPERATIONS.- |
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Its imports from China, India, Mexico,
Europe and Korea, against direct credit at 90 days and letter of credit at
120 days.. It exports to Costa Rica, El Salvador, Panama, Honduras,
Nicaragua. Its sales are directed to pharmaceutical sector in Central America.
It has 37 active clients, some of them are: - INFASA - LAPRIN - UNIPHARM
Among others. |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO INDUSTRIAL, 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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BANCO CITIBANK DE GUATEMALA SA |
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GUATEMALA |
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BAC FLORIDA BANK |
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U.S.A. |
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BANK COMENTS |
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Consulted banks do not provide
information on their clients on grounds of confidentiality. |
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N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.35 |
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1 |
Rs.93.10 |
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Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ASH |
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.