MIRA INFORM REPORT

 

 

Report No. :

353529

Report Date :

12.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MAG-BAN - MÁRMORES E GRANITOS AQUIDABAN LTDA

 

 

Registered Office :

Rodovia Gumercino Moura Nunes, S/N°, Km 2,5 Village Da Luz  29309-362 - Cachoeiro De Itapemirim/Es

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

02.12.1986

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Quarrying, Shaping, Polishing And Finishing Of Marble And Granites.

 

 

Employees:

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BRAZIL - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, and a rapidly expanding middle class, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. Since 2008, Brazil became a net external creditor and all three of the major ratings agencies awarded investment grade status to its debt.

After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. GDP growth has slowed since 2011, due to several factors, including: overdependence on exports of raw commodities, low productivity, high operational costs, persistently high inflation, and low levels of investment. After reaching historic lows of 4.5% in early 2014, the unemployment rate remains low, but is rising. Brazil's traditionally high level of income inequality has declined for each of the last 15 years.

Brazil’s fiscal and current account balances have eroded during the past four years as the government attempted to boost economic growth through targeted tax cuts for industry and incentives to spur household consumption. After winning reelection in October 2014 by a historically narrow margin, President Dilma ROUSSEFF appointed a new economic team led by Finance Minister Joaquim LEVY, who introduced a fiscal austerity package intended to restore the primary account surplus to 1.2% of GDP and preserve the country's investment-grade sovereign credit rating.

Brazil seeks to strengthen its workforce and its economy over the long run by imposing local content and technology transfer requirements on foreign businesses, by investing in education through social programs such as Bolsa Familia and the Brazil Science Mobility Program, and by investing in research in the areas of space, nanotechnology, healthcare, and energy.

 

Source : CIA

 

company name

 

MAG-BAN - MÁRMORES E GRANITOS AQUIDABAN LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RODOVIA GUMERCINO MOURA NUNES, S/N°, KM 2,5 VILLAGE DA LUZ

ZIP CODE/CITY:

29309-362 - CACHOEIRO DE ITAPEMIRIM/ES

 

 

PHONE:

28 3521-6244

FAX:

28 3521-6244

E-MAIL:

fiscal@magban.com.br

WEB SITE:

www.magban.com.br

 

BRANCHES:

 

 

 

ADDRESS:

FAZENDA SANTA MARIA, CÓRREGO DO MANGUE, DISTRITO DE ALTO MUTUM PRETO

ZIP CODE/CITY:

BAIXO GUANDU/ES

 

 

ADDRESS:

LOC SANTA ISABEL, S/Nº.  ZONA RURAL

ZIP CODE/CITY:

29360-000 CASTELO/ES

 

 

ADDRESS:

LOC PROPRIEDADE RURAL JUSSARA, FAZENDA PERIPERI

ZIP CODE/CITY:

46270-000 PIRIPA/BA

 

 

ADDRESS:

LOC SANTA JUSTA, S/Nº,0 - ZONA RURAL

ZIP CODE/CITY:

29360-000 CASTELO/ES

 

 

ADDRESS:

ESTRADA TREMEDAL X LAGOA PRETA, S/Nº ZONA RURAL

ZIP CODE/CITY:

45170-000 TREMEDAL/BA

 

 

ADDRESS:

FAZENDA VISTA NOVA, REGIÃO DE VISTA NOVA, S/Nº. ZONA RURAL

ZIP CODE/CITY:

45160-000 BELO CAMPO/BA

 

 

ADDRESS:

LOC NOGUEIRA, S/Nº.,0 - ZONA RURAL

ZIP CODE/CITY:

29360-000 CASTELO/ES

 

 

ADDRESS:

SÍTIO SÃO LÁZARO, CÓRREGO BOA ESPERANÇA, ÂNGELO FRECHIANI

ZIP CODE/CITY:

29719-000 COLATINA/ES

 

 

ADDRESS:

FAZENDA TAPERA, S/Nº,0 - ZONA RURAL

ZIP CODE/CITY:

46300-000 CACULÉ/BA

 

 

ADDRESS:

FAZENDA BELO VALES DAS COUVES - BR 116, KM 62 ZONA RURAL

ZIP CODE/CITY:

39620-000 MEDINA/MG

PHONE:

33 3735-1293

CNPJ:

31.292.568/0012-00

 

 

ADDRESS:

LOC MARGEM DO RIO SÃO MATEUS, S/Nº. ZONA RURAL

ZIP CODE/CITY:

29800-000 BARRA DE SÃO FRANCISCO/ES

 

 

ADDRESS:

LOC CÓRREGO DO MACUCO, S/Nº. ZONA RURAL

ZIP CODE/CITY:

29795-000 ÁGUIA BRANCA/ES

 

 

ADDRESS:

SÍTIO DO CUNHA, S/Nº. ZONA RURAL

ZIP CODE/CITY:

39130-000 DATAS/MG

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

QUARRYING, SHAPING, POLISHING AND FINISHING OF MARBLE AND GRANITES.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

02/12/1986

REGISTER DATE:

02/12/1986

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

31.292.568/0001-57

STATE REGISTER:

81.148.305

 

 

SHARE CAPITAL:

R$ 8.224.100,00

 

BOARD OF DIRECTORS:

 

 

 

TALES PENA MACHADO

MANAGING PARTNER

GONÇALO PENA MACHADO

MANAGING PARTNER

FLAVIA PENA MACHADO BONADIMAN

MANAGING PARTNER

JOSENILDO MOREIRA MACHADO

MANAGING PARTNER

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

TALES PENA MACHADO

43,10%

SANDRO PENA MACHADO

11,02%

GONÇALO PENA MACHADO

34,33%

FLAVIA PENA MACHADO BONADIMAN

11,02%

JOSENILDO MOREIRA MACHADO

0,53%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR PARTNERS HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 

PARAÍSO GRANITOS LTDA

 

MAG BAN EMPREENDIMENTOS E PARTICIPAÇÕES LTDA

 

PEDREIRAS MACHADO LTDA

 

JOGRAN LTDA

 

TG GRANITOS LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON DECEMBER 02, 1986 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: MAG BAN.

 

ON JANUARY 26, 2010, THE COMPANY TOOK OVER MINERAÇÃO MEDINA LTDA., CNPJ 03.716.999/0001-68 AND MARMORARIA AQUIDABAN LTDA., CNPJ 30.777.056/0001-18.

 

PARTNERS:

 

JOSENILDO MOREIRA MACHADO: BRAZILIAN, DIVORCED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT AVENIDA LUIZ TANURE, 05, CENTRO, ZIP CODE 39620-000 MEDINA/MG, HOLDER OF DOCUMENTS RG 331.607 AND CPF 049.134.777-49;

 

TALES PENA MACHADO: BRAZILIAN, MARRIED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA RODOLPHO FLORIO, 01, APTO 1202, BAIRRO INDEPENDÊNCIA, CACHOEIRO DE ITAPEMIRIM/ES, HOLDER OF DOCUMENTS RG 734.209 SSP/ES AND CPF 981.478-977-15;

 

SANDRO PENA MACHADO: BRAZILIAN, SINGLE, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA DON FERNANDO, 91, BAIRRO INDEPENDÊNCIA, CACHOEIRO DE ITAPEMIRIM/ES, HOLDER OF DOCUMENTS RG 600.295 SSP/ES AND CPF 876.695.107-06;

 

GONÇALO PENA MACHADO: BRAZILIAN, MARRIED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA PAPA JOÃO XXIII, S/Nº, APTO 901, BAIRRO GILBERTO MACHADO, CACHOEIRO DE ITAPEMIRIM/ES, HOLDER OF DOCUMENTS RG 908.444-ES AND CPF 008.175.067-64;

 

FLAVIA PENA MACHADO: BRAZILIAN, DIVORCED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT AVENIDA CRISTIANO DIAS LOPES, 44, APTO 702, BAIRRO GILBERTO MACHADO, CACHOEIRO DE ITAPEMIRIM/ES, HOLDER OF DOCUMENTS RG 1.405.844 SSP-ES AND CPF 052.266.417-29.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MR. DOUGLAS, FISCAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2011.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2011

 

 

 

 

 

 

CASH AND BANKS

219.898,36

 

 

INVESTMENTS

1.147.640,53

 

 

CLIENTS

16.501.022,00

 

 

INVENTORY

9.458.656,43

 

 

ADVANCES

1.593.434,76

 

 

ACCOUNTS RECEIVABLE

116.711,88

 

 

PREPAID EXPENSES

15.244,61

 

 

RECOVERABLE TAXES

1.907.276,80

 

 

OTHER CREDITS

3.058,13

 

 

 

----------------

 

 

TOTAL CURRENT ASSETS

30.962.943,50

 

 

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

CREDIT OPERATIONS

674.413,61

 

 

 

----------------

 

 

TOTAL LONG-TERM RECEIVABLES

674.413,61

 

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

219.664,16

 

 

FIXED ASSETS

15.804.142,97

 

 

 

----------------

 

 

TOTAL FIXED ASSETS

16.023.807,13

 

 

 

================

 

 

TOTAL ASSETS

47.661.164,24

 

 

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2011

 

 

 

 

 

 

LOANS AND FINANCING

307.635,90

 

 

SUPPLIERS

2.460.469,85

 

 

ADVANCE FROM CLIENTS

68.686,50

 

 

TAXES & CONTRIBUTIONS

467.133,20

 

 

LABOR OBLIGATIONS

132.101,20

 

 

PROVISIONS

118.345,82

 

 

ACCOUNTS PAYABLE

82.199,00

 

 

 

----------------

 

 

TOTAL CURRENT LIABILITIES

3.636.571,47

 

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

2.386.564,26

 

 

OTHER

552.819,45

 

 

 

----------------

 

 

TOTAL LONG TERM LIABILITIES

2.939.383,71

 

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

8.224.100,00

 

 

CAPITAL RESERVES

259,00

 

 

ADJUSTMENTS

-13.463,89

 

 

ACCRUED PROFIT (LOSS)

32.817.724,85

 

 

RESERVES/TAX INCENTIVES

56.588,88

 

 

 

----------------

 

 

TOTAL NET EQUITY

41.085.208,84

 

 

 

================

 

 

TOTAL LIABILITIES

47.661.164,02

 

 

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2011.

( FIGURES ARE IN REAIS ).

 

 

31/12/2011

 

 

 

 

 

 

GROSS SALES

31.836.295,57

 

 

(-) TAXES ON SALES

1.501.160,24

 

 

 

----------------

 

 

NET SALES

30.335.135,33

 

 

(-) COST OF SOLD GOODS

19.035.377,91

 

 

 

----------------

 

 

GROSS PROFIT

11.299.757,42

 

 

OPERATING REVENUE (EXPENSE)

-6.104.919,49

 

 

 

----------------

 

 

OPERATIONAL PROFIT (LOSS)

5.194.837,93

 

 

NON-OPERATING RESULT

7.217,26

 

 

CONTRIBUTION/INCOME TAX

-933.290,77

 

 

 

----------------

 

 

NET PROFIT (LOSS)

4.268.764,42

 

 

 

RATIOS:

31/12/2011

 

 

 

QUICK RATIO

5,91

 

 

 

 

 

CURRENT RATIO

8,51

 

 

 

 

 

ACCOUNTS RECEIVABLE TURNOVER

1,84

TIMES

 

 

 

 

DAYS' SALES IN RECEIVABLES

195,82

DAYS

 

 

 

 

INVENTORY TURNOVER

2,01

TIMES

 

 

 

 

ACCOUNTS PAYABLE PERIOD

46,53

DAYS

 

 

 

 

RETURN ON ASSETS

,64

TIMES

 

 

 

 

SALES TURNOVER ON NET EQUITY

,74

TIMES

 

 

 

 

NET WORTH TIE-UP

,38

 

 

 

 

 

INDEBTEDNESS

,16

 

 

 

 

 

EQUITY RATIO

86,20

%

 

 

 

 

WORKING CAPITAL RATIO

751,43

%

 

 

 

 

GENERAL SOLVENCY

7,25

 

 

 

 

 

RETURN ON NET EQUITY

10,39

%

 

 

 

 

RETURN ON SALES (PROFIT MARGIN)

14,07

%

 

 

 

 

GROSS PROFIT MARGIN

37,25

%

 

 

 

 

OPERATIONAL RESULT

17,12

%

 

 

 

 

SALES TURNOVER ON LIABILITIES

8,34

TIMES

 

 

 

 

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 3,79

 - OFFICIAL RATE ON 03/12/2015

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE ANNUAL FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. IT SHOWS HIGH LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL, AS WELL AS LOW LEVEL OF INDEBTEDNESS. IN ADDITION IT IS NOTED GODO SALES VOLUME AND MADE PROFIT.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 1.025.237,00

 

VEHICLES:

 

NOT AVAILABLE

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 11.920.125,00

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO DO BRASIL S/A

0083-3 / 28 3521-0144

 

BANCO BANESTES S/A

0115 / 28 3383-5000

 

CREDIROCHAS

3260 / 28 3511-1131

 

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

QUARRYING, SHAPING, POLISHING AND FINISHING OF MARBLE AND GRANITES.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

NOT AVAILABLE.

 

EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

FERREIRA COMERCIO S/A

 

27 3318-9786

IMETAME GRANITOS LTDA

 

27 2103-5095

LATINA VITÓRIA S/A

 

27 3348-8366

 

STAFF:

 

   NOT AVAILABLE

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1986. IT IS FAMILY OWNED AND BOTH IT AND ITS PARTNERS HAVE A GOOD TRADE REPUTATION AND A CLEAR BUSINESS HISTORY.

 

THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER OF TRADE CREDIT FACILITIES.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

LUBRIL LUBRIFICANTES COM E IND LTDA

 

28 3522-2306

SAMADISA SÃO MATERUS DIESEL SERV AUTOS LTDA

 

28 3526-2999

TENAX DO BRASIL

 

27 3338-7525

 

FOREIGN SUPPLIERS:

COUNTRY:

PHONE:

DD CHEM

ITALY

39 045 6985000

FERRIERA

ITALY

11 9973-3173

FUZHOU SKYSTONE DIAMOND TOOL CO., LTD

CHINA

86-591-83053635

TENAX ITALY

ITALY

27 3338-7525

 

PAYMENT HISTORY:

 

07 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 111.823,00

 

AMOUNT OF INVOICES PAID: 118

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 9.600,00

HIGHEST CREDIT: R$ 9.600,00

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS A CLEAR TRADE HISTORY AND NORMAL PAYMENT BEHAVIOR.

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

AS NO UPDATED FINANCIAL DATA IS AVAILABLE.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.79

UK Pound

1

Rs.101.10

Euro

1

Rs.73.10

Brazil

1

Rs.17.34

Note : Above are approximate rates obtained from sources believed to be correct

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.