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Report No. : |
357087 |
|
Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOCIEDAD DE MANUFACTURAS TIMBERNI LTDA. |
|
|
|
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Registered Office : |
Lote 68,
Hijuela Nº 9, Montenegro, Los Ángeles |
|
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Country : |
Chile |
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Date of Incorporation : |
22.07.2003 |
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Subject is a wood industry, manufacturing
particle boards, furniture components and decorative wood veneer. |
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|
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No. of Employees : |
20 |
RATING & COMMENTS
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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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Chile |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high
level of foreign trade and a reputation for strong financial institutions and
sound policy that have given it the strongest sovereign bond rating in South
America. Exports of goods and services account for approximately one-third of
GDP, with commodities making up some three-quarters of total exports. Copper
alone provides 19% of government revenue. From 2003 through 2013, real growth
averaged almost 5% per year, despite the slight contraction in 2009 that
resulted from the global financial crisis. Growth slowed to 4.2% in 2014. Chile
deepened its longstanding commitment to trade liberalization with the signing
of a free trade agreement with the US, which took effect on 1 January 2004.
Chile has 22 trade agreements covering 60 countries including agreements with
the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has
joined the United States and 10 other countries in negotiating the
Trans-Pacific Partnership trade agreement. The Chilean Government has generally
followed a countercyclical fiscal policy, accumulating surpluses in sovereign
wealth funds during periods of high copper prices and economic growth, and
generally allowing deficit spending only during periods of low copper prices
and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly
outside the country and separate from Central Bank reserves - amounted to more
than $20.9 billion. Chile used these funds to finance fiscal stimulus packages
during the 2009 economic downturn. In May 2010 Chile signed the OECD
Convention, becoming the first South American country to join the OECD. In
2014, President Michelle BACHELET introduced tax reforms aimed at delivering
her campaign promise to fight inequality and to provide access to education and
health care. The reforms are expected to generate additional tax revenues equal
to 3% of Chile’s GDP, mostly by increasing corporate tax rates to OECD
averages.
|
Source
: CIA |
STATUTORY INFORMATION
|
|
|
Order: |
MANUFACTURAS TIMBERNI LIMITADA |
|
Address in the order: |
Lote N, 68 Hijuela N 9 Montenegro, Los
Angeles, United States |
|
Comments: |
Dear Sirs, Order said the company is located
in USA, however, it is located in Chile, and address corresponds to Chile. |
|
Legal Name: |
SOCIEDAD DE MANUFACTURAS TIMBERNI LTDA. |
|
Trade Name: |
MANUFACTURAS TIMBERNI |
|
RUT: |
77956740-0 |
|
Date Created: |
2003 |
|
Date Incorporated: |
22/07/2003 |
|
Legal Address: |
Lote 68,
Hijuela Nº 9, Montenegro |
|
Operative Address: |
Lote 68,
Hijuela Nº 9, Montenegro |
|
Telephone: |
56 43 2571850 |
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Fax: |
56 43 2571850 |
|
Legal Form: |
Limited Company |
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Email: |
|
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Registered in: |
Chile |
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Website: |
|
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Contact: |
Manuel Casais Fontenla, Director |
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Staff: |
20 |
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Activity: |
Wood Industry |
|
|
|
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Banks: |
Banco Santander Rio S.A. |
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|
|
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The company does not make its banking data
public |
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History: |
|
|
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The company was founded in 2003. |
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PRINCIPAL ACTIVITY
|
|
|
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Timberni Ltda., is part of Grupo Losán, a
Spanish Group working in the wood industry, manufacturing particle boards,
furniture components and decorative wood veneer. |
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Products/Services description: |
Strategically located in Cuidad de los Ángeles
(Chile), it produces solid Radiata
Pine boards and finger-jointed boards in different sizes, generally for use
in traditional solid wood furniture production and solid RTA (ready to
assemble) furniture, shelving and natural wood coverings. |
|
|
A/AB FIRST |
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Brands: |
MANUFACTURAS TIMBERNI |
|
Sales are: |
Wholesale |
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Clients: |
DEPOSITO LOS
RETALES SA |
|
Suppliers: |
NA |
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Operations area: |
National and International |
|
The company imports from |
No import |
|
The company exports to |
Latin America |
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The subject employs |
20 employees |
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Payments: |
No Complaints |
|
|
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LOCATION
|
|
|
Headquarters : |
Lote 68,
Hijuela Nº 9, Montenegro |
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Branches: |
The company does not have branches |
|
Related Companies: |
The parent company operates 13 factories
distributed throughout the world in countries such as: Spain, Holland Romania, Brazil, Chile
(Colcura S.A. and Timberni Ltda.,) and the United States. |
|
|
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
|
|
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a
private comapny. It is a subsidiary of: |
|
Management: |
Manuel Casais
Fontenla, Director |
|
|
|
FINANCIAL INFORMATION
|
|
|
|
This is a private company which does not
make its financial figures public. |
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|
|
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The following information has been ptovided
by our private sources: |
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|
|
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Imports in US$ |
|
|
Year |
Total |
|
2011 |
US$ 42,337 |
|
2010 |
US$ 191,400 |
|
2008 |
US$ 269,187 |
|
2005 |
US$ 1,600 |
|
2004 |
US$ 348,099 |
|
|
|
|
Exports in US$ |
|
|
Year |
Total |
|
2012 |
US$ 4,346,994 |
|
2011 |
US$ 4,215,022 |
|
2010 |
US$ 4,439,071 |
|
2009 |
US$ 2,786,701 |
|
2008 |
US$ 2,372,525 |
|
|
|
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LEGAL FILINGS |
|
|
|
|
|
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There are no legal connected to the subject |
|
|
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SUMMARY
|
|
|
|
Timberni Ltda., is part of Grupo Losán, a
Spanish Group working in the wood industry, manufacturing particle boards,
furniture components and decorative wood veneer. It has 12 years of experience in the
Chilean market with small sized and being part of an international group. The company is active, exporting mainly to
Latin America and with no negative records. |
|
|
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RISK INFORMATION
|
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
|
|
|
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INTERVIEW |
|
|
NAME |
Rodrigo |
|
POSITION |
Administrative |
|
COMMENTS |
The person contacted confirmed RUT, activity
and group. He refused to confirm more data on the subject. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.98.55 |
|
Euro |
1 |
Rs.72.60 |
|
CLP |
1 |
Rs.0.093 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.