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Report No. : |
306685 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
RUDOLF LIETZ, INC. |
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Registered Office : |
Lietz Industrial complex,
Edison Avenue (P. Leviste), Km 14, SLEX RP 1709 Paranaque City, Metro, Manila |
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Country : |
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Financials (as on) : |
2014 |
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Date of Incorporation : |
13.02.1997 |
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Com. Reg. No.: |
A199702020 |
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Legal Form : |
Private Corporation |
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Line of Business : |
Engaged as manufacturers
and trading houses on a vast range of chemical raw materials:- · Pharmaceutical active ingredients Excipients Food
ingredients and raw materials Feed
ingredients and veterinary raw materials Commodities Industrial
chemicals Subject product ranges are Feed & Veterinary; Food; Industrial Packaging; Pharmaceuticals; Pharma/Food Coatings; Cosmetics & Personal Care. |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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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Philippines |
A2 |
A2 |
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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 |
Philippines ECONOMIC OVERVIEW
The economy has weathered
global economic and financial downturns better than its regional peers due to
minimal exposure to troubled international securities, lower dependence on
exports, relatively resilient domestic consumption, large remittances from four-
to five-million overseas Filipino workers, and a rapidly expanding business
process outsourcing industry. The current account balance had recorded
consecutive surpluses since 2003; international reserves are at record highs;
the banking system is stable; and the stock market was Asia's second
best-performer in 2012. Efforts to improve tax administration and expenditure
management have helped ease the Philippines' tight fiscal situation and reduce
high debt levels. The Philippines has received several credit rating upgrades
on its sovereign debt, and has had little difficulty tapping domestic and
international markets to finance its deficits. Economic growth in the
Philippines averaged 4.5% during the MACAPAGAL-ARROYO administration, but
poverty worsened during her term. Growth has accelerated under the AQUINO
government, but with limited progress thus far in bringing down unemployment,
which hovers around 7%, and improving the quality of jobs. Underemployment is
nearly 20% and more than 40% of the employed are estimated to be working in the
informal sector. The AQUINO administration has been working to boost the
budgets for education, health, cash transfers to the poor, and other social
spending programs, and is relying on the private sector to help fund major
infrastructure projects under its Public-Private Partnership program. Long term
challenges include reforming governance and the judicial system, building
infrastructure, improving regulatory predictability, and the ease of doing
business, attracting higher levels of local and foreign investments. The
Philippine Constitution and the other laws continue to restrict foreign
ownership in important activities/sectors (such as land ownership and public
utilities).
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Source
: CIA |
Company:
RUDOLF LIETZ, INC.
Address: Lietz Industrial complex, Edison
Avenue (P. Leviste), Km 14, SLEX RP 1709 Paranaque
City, Metro, Manila
Country:
Philippines
Tel. No.: 63-2-821-71-81
Fax No.: 63-2-824-37-70
E-Mail: lietz@lietz.com
Website: www.lietz.com
We conducted
research and investigation on RUDOLF LIETZ, INC. and showed the following, viz:
VERIFICATION WITH
SECURITIES & EXCHANGE COMMISSION (SEC):
RUDOLF LIETZ, INC.
(Per General Information Sheet (GIS) for Year 2014)
Certificate No. : A199702020
Date : February 13, 1997
Term : Fifty (50) years
Corporate Tax No. : 005-122-578
Legal Entity Private Corporation
Address: 1) 142 Legaspi Street, Legaspi Village, Makati City
2) Lietz Industrial complex, Edison Avenue (P.
Leviste), Km 14, SLEX RP 1709 Paranaque City,
Metro, Manila
(Note:
Currency in Philippine Peso, unless otherwise specified)
(As of 2014)
· Authorized Capital Stock - 100,000,000. – 10,000,000 Shares Common
Amount Subscribed &
Fully Paid Up - 65,000,000.
Par value per Share - 10.
(As of 2014)
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Name / Nationality |
Position |
Amount Paid Up |
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Rudolf JH Lietz, German |
Chairman/President |
33,150,000. |
|
Elizabeth SP Lietz, Pilipino |
Vice Pres./Treas./Sec. |
29,248,000. |
|
Alexander RJ Lietz, Pilipino |
Director |
2,600,000. |
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Oscar A. Alvarez, Pilipino |
Director |
1,000. |
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Johanna KV Lietz, Pilipino |
Director |
1,000. |
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Total |
65.000,000. vvvvvvvvvv |
Subject firm is a German-Filipino company.
Engaged as manufacturers and trading houses on a vast
range of chemical raw materials:-
· Pharmaceutical active ingredients
Excipients
Food ingredients and raw
materials
Feed ingredients and
veterinary raw materials
Commodities
Industrial chemicals
Products are Feed & Veterinary; Food; Industrial Packaging; Pharmaceuticals; Pharma/Food Coatings; Cosmetics & Personal Care.
Membership/Accreditations – Starting Materials Accreditation Group; Food & Drugs
Administration, Phils.; Bureau of Animal; Phil. Care Assn. of the Phils.; American Chamber of Commerce of the Phils.; German-Philippine Chamber of Commerce & Industry, Inc.; European Chamber of Commerce.
Facilities – Delivery Fleet; Technical Support; Warehousing, 600 square meters; Office Building; Warehousing, 11,000 square meters.
(Audited Financial Statement
for years 2014, 2013, & 2012, as compiled)
Balance Sheet
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ASSETS |
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2014 |
2013 |
2012 |
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Current Asset |
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Cash |
20,993,121. |
9,093,584. |
5,478,911. |
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Trade
and Other Receivables |
96,533,423. |
55,730,351. |
54,196,803. |
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Due
from Related Parties |
24,849,688. |
32,599,688. |
32,599,688. |
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Inventories |
97,175,042. |
64,757,325. |
47,204,840. |
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Other
Current Asset |
3,236,040. |
1,276,364. |
1,036,535. |
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Total Current Assets |
242,787,314. |
163,457,312. |
140,516,777. |
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Non- Current Asset |
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Deferred
Tax Assets |
1,986,793. |
1,345,773. |
NIL |
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Property
& Equipment, net |
22,547,192. |
19,272,598. |
10,406,571. |
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Other
Non Current Assets |
11,118,441. |
11,048,857. |
10,593,562. |
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Total Non Current Assets |
35,652,426. |
31,667,228. |
21,000,133. |
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Total Assets |
278,439,740. vvvvvvvvvv |
195,124,540. vvvvvvvvvv |
161,516,910. Vvvvvvvvvv |
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LIABILITIES AND STOCKHOLDER’S EQUITY |
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Current Liabilities |
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Trade
& Other Payables |
175,365,475. |
94,242,874. |
65,754,904. |
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Interest
Bearing Borrowings |
1,080,000. |
1,080,000. |
990,000. |
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Total Current Liabilities |
176,445,475. |
95,322,874. |
66,744,904. |
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Non Current
Liabilities |
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Interest
Bearing Borrowings |
2,220,000. |
3,300,000. |
4,485,000. |
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Estd.
Retirement Benefits Liab. |
5,954,580. |
4,824,177. |
3,693,774. |
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Total
Non Current Liabilities |
8,174,580. |
8,124,177. |
8,178,774. |
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Total Liabilities |
184,620,055. |
103,447,051. |
74,923,678. |
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Stockholder’s Equity |
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Capital Stock |
65,000,000. |
65,000,000. |
65,000,000. |
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Retained Earnings |
28,819,685. |
26,677,489. |
21,593,232. |
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Total
Stockholder’s Equity |
93,819,685. |
91,677,489. |
86,593,232. |
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Total
Liabilities & Equity |
278,439,740.
vvvvvvvvv |
195,124,540.
vvvvvvvvv |
161,516,910.
Vvvvvvvvv |
INCOME STATEMENT
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Revenues |
417,381,081. |
315,467,030. |
284,700,024. |
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Gross
Profit |
76,439,536. |
68,489,771. |
55,672,868. |
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Less: Distribution Cost |
( 46,134,564.) |
( 42,282,756.) |
( 35,312,016.) |
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Administrative Expenses |
( 27,462,879.) |
( 19,794,636.) |
( 15,818,781.) |
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Operating Profit |
2,842,093. |
6,412,379. |
4,542,071. |
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Profit
Before Tax |
3,052,734. |
7,017,715. |
5,066,864. |
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NET
INCOME |
2,142,196. vvvvvvvvvvv |
4,127,881. vvvvvvvvvvv |
3,267,932. vvvvvvvvvvvv |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
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UK Pound |
1 |
Rs.94.65 |
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Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.