MIRA INFORM REPORT

 

 

Report No. :

307196

Report Date :

13.02.2015

 

IDENTIFICATION DETAILS

 

Name :

VENUS COLOR CO. INC.

 

 

Registered Office :

Unit 2241 Guadalupe Mansion, Guadalupe 1212 Makati City 

 

 

Country :

Philippines

 

 

Financials (as on) :

2014

 

 

Date of Incorporation :

17.01.2005

 

 

Legal Form :

Private Corporation

 

 

Line of Business :

Wholesale & retail of industrial chemical and merchandise

 

 

No. of Employee :

Not Available

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Philippines

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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).

 

Source : CIA

 

 

Company name and address

 

Company:                 VENUS COLOR CO. INC.

Address:                  Unit 2241 Guadalupe Mansion, Guadalupe 1212                                                                                              Makati City                                                                                               

Country:                    Philippines                                                 

  Service Type:          Normal 

        

 

FINDINGS

 

We conducted research and investigation on VENUS COLOR CO. INC. and showed the following, viz:

 

 

VERIFICATION WITH SECURITIES & EXCHANGE COMMISSION (SEC):   VENUS COLOR CO.  INC.

 

 

Legal Entity 

 

PRIVATE CORPORATION

 

 

REGISTRATION

 

(Per General Information Sheet (GIS) for Year 2014)

 

Certificate No.           :      CS20050057

Date                          :      January 17, 2005

Term                         :      Fifty (50) years

Corporate Tax No.     :      236-162-524

Company Type          :      Stock Corporation

Telephone No.           :      (632) 522 3369

 

Address:   1)  2241 Guadalupe Mansion, J.P. Rizal St., Guadalupe, Makati City.                                                                                           

                           

 (Note:  Currency in Philippine Peso, unless otherwise specified)

           

     

CAPITALIZATION

 

(As of 2014)

 

Authorized Capital Stock                           -      1,000,000.     –   10,000  Shares Common

 

Amount Subscribed & Paid Up                  -         250,000.    

    

Par value per Share                                 -              100.

 

 

PRIMARY PURPOSE

 

Wholesale & retail of industrial chemical and merchandise.

                                        

                        

STOCKHOLDERS/DIRECTORS/OFFICERS

 

(As of 2014)

 

              Name / Nationality

         Position

Amount  Paid Up

 Robert O. Yao, Pilipino

Chairman/President

              2,500.

Anna Marie Amar, Pilipino

Director

            25,000.

Ma. Grace Yao  Uy, Pilipino

Director

            87,500.

Susan Choy, Pilipino

Director/Treasurer

            37,500.

Nemesio Yao, Jr., Pilipino

Director

            97,500.

Brenda Leah Yao, Pilipino

Corporate Secretary

              NIL    

 

 

          250,000.

          vvvvvvv

 

 

 

 

 

 

 

 

 

 

 

 

BUSINESS ACTIVITY

 

Engaged to operate & maintain the business of manufacturer, importing, buying, selling or otherwise dealing in wholesale & retail of such goods as industrial chemicals such as  oil, grease

                       

Subject’s business activity – pellet masterbatches for coloring plastics.

 

Products:

 

Pigment Powders                       Color matching services

Masterbatches for polyolefins     Masterbatches for rubber             

 

  Telephone No.    :  (632) 882,0716; 882-0718; 552 3469                             

  Email                 :   ikcolors@info.com.ph  

                                      

 

FINANCIAL CONDITION

 

(Audited Financial Statement for years 2013, 2012, & 2011, as compiled)

 

BALANCE SHEET

 

ASSETS

         

         2014

        2013

       2012

          Current Asset

 

 

 

Cash

      1,077,531.

         636,894.

         555,325.

Trade and Other Receivables

      3,883,726.

      1,921,358.

      2,078,486.

Inventories

      1,534,810.

      3,012,764.

      1,867,210.

Prepayments

           NIL        

           NIL      

         129,295.

Total Current Assets

      6,496,067.

      5,571,016.

      4,630,316.

 

 

 

 

          Non- Current Asset 

 

 

 

Property, Plant & Equipment

         320.380.

         480,572.

         640,763.

Total Assets

      6,816,447.

      vvvvvvvvv

      6,051,588.

      vvvvvvvvv

      5,271,079.

      vvvvvvvvv

                                                   

 LIABILITIES AND STOCKHOLDER’S EQUITY

 

         Current Liabilities

 

 

 

Trade & Other Payables

      1,956,420.

      2,747.378.

      2,973,738.

Other Current Liabilities

           91,705.

           57,923.

         125,990.

Income Tax Payable

         230,585.

           89,470.

            NIL           

Total Current Liabilities

      2,278,710.

      2,894,771.

      3,099,728.

Total Liabilities

      2,278,710.

      2,894,771.

      3,099,728.

 

 

 

 

            Stockholder’s Equity

 

 

 

Share Capital

         250,000.

          250,000.

         250,000.

Retained Earnings

      4,287,737.

       2,906,816.

      1,921,350.

Total Stockholder’s Equity

      4,537,737.

       3,156,816.

      2,171,350.

Total Liabilities & Equity

      6,816,447.

      vvvvvvvvv

       6,051,588. 

       vvvvvvvvv

      5,271,079.

      vvvvvvvvv

 

 

INCOME STATEMENT

 

Revenues

    36,917,304.

      29,353,766.

     28,157,517.

Gross Profit

      6,755,719.

        5,537,711.

       5,643,572.

Less:   Admin. Expenses

(     4,798,426.)

(       4,142,959)

(      4,766,636.) 

  Interest Income

           10,816.

               9,140.

              8,715.

Profit Before Tax

      1,968,109.

        1,403,892.

          885,651.

NET INCOME

      1,380,921.

      vvvvvvvvv

           985,466.

        vvvvvvvvv

          622,570.

     vvvvvvvvvv

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.43

UK Pound

1

Rs.95.02

Euro

1

Rs.70.63

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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