|
Report No. : |
262862 |
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EUROMARMOL LIMITADA |
|
|
|
|
Registered Office : |
Calle 77 N 74-04 Barranquilla. |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.03.1992 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import, marketing and export of marble and granite |
|
|
|
|
No. of Employees |
100 |
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 |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Colombia |
B1 |
B1 |
|
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 face 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. The US-Colombia Free Trade Agreement (FTA) was ratified by the US Congress in October 2011 and implemented in 2012. Colombia has signed or is negotiating FTAs with a number of other countries, including Canada, Chile, Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, China, Costa Rica, Panama, and Israel. Colombia is also a founding member of the Pacific Alliance—a group formed in 2012 among Chile, Colombia, Mexico, and Peru to promote regional trade and 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 $10 billion in 2008 but dropped to $7.2 billion in 2009, before beginning to recover in 2010, and reached a record high of nearly $16 billion in 2012. Inequality, poverty, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
EUROMARMOL LIMITADA |
|
TRADE NAME |
EUROMARMOL LTDA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
800157469-7 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Calle 77 N 74-04 |
|
CITY/PROVINCE/STATE |
Barranquilla. |
|
PHONE NUMBER(S) |
(57-5) 360.0208 |
|
FAX NUMBER |
(57-5) 368.3440 |
|
|
info@euromarmol.com |
|
CR-RATING |
LOW RISK |
|
PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
|
COMMENTS OF IDENTIFICATION.- |
No website was found. This report was ordered as EURO MARMOL LTDA. Please be noted that the complete and correct company name of the subject is as shown above. Likewise, this report was ordered with address: Cra 67 No. 10-20 Loma 3 LT-B Atlantico Barranquilla, Colombia, South America, Colombia. Please be noted that the complete and correct address of the subject is as shown above. |
LEGAL ASPECTS
|
|
|
LEGAL STATUS |
Limited Liability Company |
|
INCORPORATION DATE |
10/03/1992 |
|
REGISTERED IN |
Barranquilla |
|
DURATION |
09/03/2022 |
|
NOTARY OFFICE |
No.2 of Barranquilla |
|
REGISTRATION |
Certificate No.154205/ NBC 10105792, Deed No. 477 |
|
BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
YIDI DACCARETT, ENRIQUE ALBERTO |
General Manager |
50% |
|
YIDI DACCARETT, ORLANDO |
Legal Representative |
50% |
|
VARRO RUIZ, CECILIA |
Industrial Relations Chief |
|
|
GONZALES PEÑA, MARCI TULIO |
Finance Manager |
|
|
DE MOYA ROMERO, OSWALDO |
Systems Chief |
|
|
BUENO BEDOYA, DAVID |
Sales Manager |
|
|
DE LA HOZ DEL CASTILLO , JOSE MANUEL |
Alternate Board of Directors |
|
|
ROCHA OSORIO, EDGARDO ENRIQUE |
Accounting Chief |
|
|
JIMENEZ CANTILLO, RUBEN |
Accountant |
|
|
PACHECO LOPEZ , LUIS EDUARDO |
Tax Advisor |
|
|
MOLINA GONZALEZ, GLADYS ESTELLA |
Alternate Tax Reviser |
|
No negative information found.
|
PAID-UP CAPITAL |
Ps$1,000,000,000.00 Pesos |
|
NET WORTH |
Ps$4,893,287,000.00 Pesos (As of 31/12/2012) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
IMPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 4,437,505.29 |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 1,959,068.20 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 1,713,265.68 |
|
EXPORTS |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 697,950.54 |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 24,075.56 |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 462,080.94 |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
2000 |
|
MONTHLY AVERAGE |
Ps$40,000,000.00 Pesos |
|
DEADLINES |
Invoices at 45 days |
|
RATING |
PROMPT |
|
COMMENTS.- |
Last purchase: April 2014. |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
Ps$60,000,000.00 Pesos |
|
SUPPLIER FROM |
2006 |
|
DEADLINES |
Invoices at 30 days |
|
RATING |
PROMPT |
|
COMMENTS.- |
Rated as a good client. |
|
|
|
|
CREDIT FILES |
|
|
Locally, the subject purchases in cash and it does not have credit experience due to main purchases come from abroad. Consulted suppliers do not give references of their clients by policy of companies |
|
|
RELATED COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
INDUSTRIAS YIDI SA |
8901008043 |
COLOMBIA |
|
COMMENTS ON LEGAL ASPECTS .- |
||
|
The subject is member of the Chamber of Commerce of Barranquilla. |
||
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
During our investigation, we interviewed Mr. Edgardo Rocha (Accounting Chief) who supplied business information regarding the subject except for financial figures on grounds of confidentiality, Through external sources, we obtained its General Balance Sheet as of 31/12/2012 and 31/12/2011 (12 months each) expressed in Pesos which figures are: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
.Current Total |
15,500,020,000.00 |
15,018,073,000.00 |
3.21 |
|
.Net Fixed |
2,277,070,000.00 |
5,317,381,000.00 |
-57.18 |
|
.Total Assets |
17,777,090,000.00 |
20,335,454,000.00 |
-12.58 |
|
.Total Current Liabilities |
5,565,612,000.00 |
14,427,305,000.00 |
-61.42 |
|
.Long Term Accounts |
7,318,191,000.00 |
11,541,000.00 |
63,310.37 |
|
Total Liabilities |
12,883,803,000.00 |
14,438,846,000.00 |
-10.77 |
|
Total Equity |
4,893,287,000.00 |
5,896,608,000.00 |
-17.02 |
|
Total Liabilities and Equity |
17,777,090,000.00 |
20,335,454,000.00 |
-12.58 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2012 |
31/12/2011 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,774.50 |
1,941.50 |
|
|
Net Sales |
9,870,841,000.00 |
9,330,728,000.00 |
5.79 |
|
Net Income(Net Loss) |
548,917,000.00 |
314,999,000.00 |
74.26 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,012.00 |
2,011.00 |
0.00 |
|
.NET WORKING CAPITAL |
9,934,408,000.00 |
590,768,000.00 |
15.82 |
|
.LIQUIDITY RATIO |
2.78 |
1.04 |
1.67 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
1.38 |
1.41 |
-0.02 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
0.56 |
0.46 |
0.22 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL
COMMENTS.- |
|||
|
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.- |
|||
|
Main assets include: - Machinery and equipment - Office equipment - Fittings - Tools among others All for a total amount of Ps$2,179,932,000.00 Pesos |
|||
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INSURANCE.- |
|||
|
All-risk insurance policy is taken with an insurance policy company, whose name, coverage amount, and date of maturity were not supplied. |
|||
|
RATE OF EXCHANGE |
US$1.00 = Ps$1935.50 as of report date |
|
WHO IS WHO? |
|
YIDI DACCARETT, ENRIQUE ALBERTO |
|
Colombian, ID, 8705926 ,, Engineer, . |
|
YIDI DACCARETT, ORLANDO |
|
Colombian, ID, 72146773 , . |
|
PACHECO LOPEZ , LUIS EDUARDO |
|
Colombian, ID, 8743095., . |
|
MOLINA GONZALEZ, GLADYS ESTELLA |
|
Colombian, ID, 32712752., . |
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
MATERIALS&FINISHES FOR THE CONSTRUCTION INDUSTRY |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
MAIN ACTIVITY |
Import, marketing and export of marble and granite |
|
% CASH SALES/PAYMENT METHOD |
90% |
|
% CREDIT SALES/TERMS |
10% (Terms at 30 - 60 days) |
|
TERRITORY OF SALES |
National and international market. |
|
N. OF EMPLOYEES |
100 |
|
LOCATION |
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ADMINISTRATIVE OFFICES, COMMERCIAL PREMISES, Located at captioned address in a business zone of easy access. Premises are kept in good repair. OTHER PREMISES: - Bodega Cra. 67 # 48-65, Barranquilla. |
|
COMMENTS OF OPERATIONS.- |
|
It imports from China, India, Brazil, Spain, Turkey, Pakistan, Turkey, Italy, Vietnam. Besides, it exports to Venezuela, Aruba, United States. |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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AGENCIA DE ADUANAS ACI CARGO LTDA NIVEL 2 |
|
|
|
MAERSK COLOMBIA S A |
|
|
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ATLANTICA S. I. A. S.A. |
|
(56-1)263.5466 |
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CIA. TRANSPORTADORA S.A.S. |
|
(56-1) 327.5127 |
|
DELIMA MARSH S.A. LOS CORREDORES DE SEGUROS |
|
(56-2) 608.3100 |
|
DHL EXPRESS COLOMBIA LTDA. |
|
(56-1) 749.9700 |
|
GASES INDUSTRIALES DE COLOMBIA S.A CRYOGAS |
|
(56-4) 514.5000 |
|
LEGISLACION ECONOMICA S.A. |
|
(56-1) 425.5255 |
|
METROPOLITANA DE TELECOMUNICACIONES S.A. EMPRESA DE SERVICIOS PUBLICOS |
|
(56-5) 361.3404 |
|
MUNDOCOMEX LTDA. |
|
(56-5) 368.4206 |
|
SAINT GOBAIN ABRASIVOS COLOMBIA LTDA. |
|
(56-1) 893.3993 |
|
SERVIENTREGA S.A. |
|
(56-1) 770.0410 |
|
TRANSPORTE DE CARGA A GRANEL S.A. |
|
(56-4) 288.3878 |
|
SIGMA DU BRASIL |
|
|
|
TIBA VALENCIA |
|
|
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FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
LEVANTINA DE GRANITO |
|
|
SPAIN |
|
CAJUGRAM GRANITOS E MARMOLES DO BRASIL LTD |
|
|
BRAZIL |
|
MARMOLES EUROAMERICA S L |
|
|
SPAIN |
|
MARMOL SPAIN S L U |
|
|
SPAIN |
|
BEST CHEER XIAMEN STONE WORKS CO LTD |
|
|
CHINA |
|
COLTRANS S.A.S. |
|
(56-1) 423.9300 |
COLOMBIA |
|
ALCALAGREF |
|
|
SPAIN |
|
CERA CASA, |
|
|
SPAIN |
|
ESTILNUL, |
|
|
SPAIN |
|
EXIT SAS DIL TATALI Y CIA. |
|
|
ITALY |
|
GLOBAL MARBEL |
|
|
SPAIN |
|
GRANITOS, |
|
|
SPAIN |
|
GREALS VALLS |
|
|
SPAIN |
|
MARMOLES NOVELDA, |
|
|
SPAIN |
|
VERMARMOL |
|
|
SPAIN |
|
BANKERS / REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO DE BOGOTA SA |
|
|
|
COLOMBIA |
|
BANCOLOMBIA SA |
|
|
|
COLOMBIA |
|
BANK COMENTS |
||||
|
Consulted banks do not give any information of their clients due to bank secrecy. |
||||
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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%)