|
Report No. : |
299969 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANHIDRIDOS Y DERIVADOS DE COLOMBIA SA |
|
|
|
|
Registered Office : |
Carrera 64 C No. 95 – 84 Apartado 2065, Medellin, Antioquia |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.12.1965 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Manufacture of chemical products such as: phtalic anhydride, alchidic resins,
PVA emulsion, polyester resins, plasticizers. |
|
|
|
|
No. of Employee : |
321 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Colombia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 weather 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. Colombia has signed or is negotiating Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia FTA went into force on May 2012. Colombia is also a founding member of the Pacific Alliance - a regional grouping formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade and economic 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 a record high of $16.8 billion in 2013, an increase of 7% over 2012. Inequality, poverty, and narcotrafficking remain significant challenges, and Colombia's infrastructure requires major improvements to sustain economic expansion.
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
ANHIDRIDOS Y DERIVADOS DE COLOMBIA SA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
890903310-3 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Carrera 64 C No. 95 - 84 |
|
CITY/PROVINCE/STATE |
Apartado 2065, Medellin, Antioquia |
|
PHONE NUMBER(S) |
(57-4) 470.0700 |
|
FAX NUMBER |
(57-4) 267.8135 |
|
E-MAIL |
|
|
WEB SITE |
|
|
E-MAIL |
|
|
COMMENTS OF IDENTIFICATION.- |
The report was ordered as ANDERCOL SA, which is subject's trade name,
with address: Colombia, which is incomplete. Please be advised that the
correct and complete data are as shown in caption. |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
14/12/1965 |
|
REGISTERED IN |
Medellin |
|
DURATION |
85 years |
|
NOTARY OFFICE |
No. 4, Medellin |
|
REGISTRATION |
Certificate No.002083-04, Public Deed 4311 |
|
COMMENTS RELATED COMPANIES |
|
|
Subject is part of INVERSIONES MUNDIAL SA, mainly composed of the
following firms: |
|
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
|||
|
NAME |
JOB TITLE |
% STAKE |
|
|
VILLA RINCON, MERCEDES |
Vice Chairwoman |
|
|
|
LONDONO PEREZ, MAGDA LUCIA |
Director |
|
|
|
ZAPATA, JORGE IGNACIO |
Alternate Director |
|
|
|
URIBE BANERO, JUAN CAMILO |
Alternate Director |
|
|
|
ARANGO RINCON, AMPARO |
Alternate Director |
|
|
|
BAYONA ZAPATA, RODOLFO |
General Manager |
|
|
|
MOSQUERA RENTERIA, WILMER MANUEL |
Tax Inspector |
|
|
|
LONDOÑO PUERTA, ANA CATALINA |
Alt.Tax Inspector |
|
|
|
PALACIO ECHEVERRI, VICTOR MANUEL |
Finance Manager |
|
|
|
VIANNA, DIEGO MAURICIO |
Deputy Manager |
|
|
|
CARDONA MARULANDA, MONICA LUCIA |
General Accountant |
|
|
|
TERMINADOS INDUSTRIALES SA |
Shareholder |
|
|
|
INV. MUNDIAL SA |
Shareholder |
|
|
|
WHO IS WHO? |
||||
|
VILLA RINCON, MERCEDES |
||||
|
C.I., 43.018.795, . |
||||
|
Position |
Name |
Country |
Tax id Number |
Year |
|
|
INPROQUIM SA |
COLOMBIA |
890938020 DV3 |
2007 |
|
ZAPATA, JORGE IGNACIO |
||||
|
C.I., 7137223315, . |
||||
|
BAYONA ZAPATA, RODOLFO |
||||
|
C.I., 91.254.256, . |
||||
|
PALACIO ECHEVERRI, VICTOR MANUEL |
||||
|
C.I., 8354999, . |
||||
|
TERMINADOS INDUSTRIALES SA |
||||
|
NIT, 8605024545, COLOMBIA, . |
||||
|
INV. MUNDIAL SA |
||||
|
COLOMBIA, . |
||||
|
CACHARRERIA MUNDIAL SA |
||||
|
NIT, 890900138-9, Carrera 43-A No.3-101 Of. 502, Medellin, Antioquia, (57-4)
266.6000 / 232.8485, COLOMBIA, HARDWARE, . |
||||
No negative information found.
|
INITIAL CAPITAL |
Ps$200,000.00 Colombian Pesos |
|
PAID-UP CAPITAL |
Ps$221,599,980.00 Colombian Pesos |
|
LAST CAPITAL INCREASE |
01/12/2005 (last known) |
|
NET WORTH |
Ps$164,340,445,000.00 Pesos (as of 31/12/2013) |
|
TYPE OF SHARES |
Registered stock |
|
LISTED AT STOCK EXCHANGE |
NO |
|
SHARE VALUE |
Ps$10.00 Pesos (22,159,998 shares) |
|
IMPORTS |
|
|
YEAR |
2014 (January - November) |
|
AMOUNT |
US$ 19,493,902.00 |
|
COUNTRIES |
USA, Brazil, Mexico, Belgium, Germany, Venezuela, Holland, Korea |
|
|
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 29,009,982.56 |
|
COUNTRIES |
USA, Brazil, Mexico, Belgium, Germany, Venezuela, Holland, Korea |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 30,594,812.93 |
|
COUNTRIES |
USA, Venezuela, China, Brazil, Mexico, Belgium, Chile, Argentina,
Germany, Taiwan |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 4,683,209.00 |
|
COUNTRIES |
USA, Brazil, Mexico, Belgium, Germany, Venezuela, Holland, Korea |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 9,081,335.18 |
|
COUNTRIES |
Argentina, USA, Venezuela, Germany, Brazil, Mexico, The Netherlands, Belgium |
|
EXPORTS |
|
|
YEAR |
2014 (January - November) |
|
AMOUNT |
US$ 21,136,602.85 |
|
COUNTRIES |
Ecuador, Dominican Rep., El Salvador, Brazil, Guatemala, Costa Rica,
Peru, Chile, Panama, USA |
|
|
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 45,808,980.12 |
|
COUNTRIES |
Ecuador, Dominican Rep., El Salvador, Brazil, Guatemala, Costa Rica,
Peru, Chile, Panama, USA |
|
|
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 35,896,644.08 |
|
COUNTRIES |
Ecuador, Chile, El Salvador, Bolivia, Mexico, Brazil, Costa Rica,
Panama |
|
|
|
|
YEAR |
2011 |
|
AMOUNT |
US$ 7,579,322.14 |
|
COUNTRIES |
Ecuador, El Salvador, Venezuela, Costa Rica, Mexico, Bolivia, Chile |
|
|
|
|
YEAR |
2010 |
|
AMOUNT |
US$ 21,707,258.06 |
|
COUNTRIES |
Ecuador, Dominican Republic, Brazil, Venezuela, Guatemala |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
Several years ago |
|
DEADLINES |
30 days |
|
PRODUCTS SOLD |
Chemical substances |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with bank transfers. |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
Several years ago |
|
DEADLINES |
30 days |
|
PRODUCTS SOLD |
Lubricants, gasoline |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with bank transfers. |
|
|
|
|
CREDIT FILES |
|
|
Other local suppliers consulted do not provide references on clients
per company policies. |
|
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
BASF QUIMICA COLOMBIANA SA |
Diana Rubio |
(57-1) 632.2260 |
|
EXXONMOBIL DE COLOMBIA SA |
Ernesto Bernal |
(57-1) 628.0460 |
|
UNION CARBIDE INTER-AMERICA INC. |
|
|
|
FESA SA |
Martha Patricia Lopez |
(57-2) 661.8161 |
|
VAN LEER ENVASES DE COLOMBIA SA |
|
|
|
TRANSPORTES INOXIDABLES LTDA |
|
(57-7) 621.4748 |
|
SISTEMAS Y COMUNICACIONES CARVAJAL SA |
|
(57-1) 410.1303 |
|
SHELL COLOMBIA SA |
|
|
|
ZENECA INTERNATIONAL LIMITED |
|
|
|
AGA FANO FABRICA NACIONAL DE OXIGENO SA |
Maria Eugenia Mejia |
(57-1) 425.4550 |
|
PAPELERIA MARION SA |
|
(57-4) 339.9999 |
|
SUCROMILES SA |
|
(57-2) 431.0637 |
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
MILLENNIUM PETROCHEMICAL INC |
|
|
U.S.A. |
|
ICI ACRILIC INC |
|
|
ENGLAND |
|
SASOL SOLVENTS ADIVICION |
|
(27-11) 280.0000 |
SOUTH AFRICA |
|
PROQUIGEL QUIMICA SA |
|
(55-11) 3707.8201 |
BRAZIL |
|
RHODIA POLIAMIDA E ESPECIALIDADES LTDA |
|
(55-11) 4435.2000 |
BRAZIL |
|
BASF CORP |
|
|
U.S.A. |
|
THE DOW CHEMICAL COMPANY |
|
(1-989) 636.0626 |
U.S.A. |
|
GREAT WINEXPRESS INDUSTRIAL HOLDING CO LTD |
|
|
CHINA |
|
ARROW CHEMICAL GROUP CORP |
|
(86-532) 8907.2278 |
CHINA |
|
PMC MARKETING LTD |
|
(44-1-892) 725.755 |
UNITED KINGDOM |
|
RELATED COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
ANDERCOL MEXICO SA DE CV |
|
MEXICO |
|
ANDERCOL SA |
|
GUATEMALA |
|
CACHARRERIA MUNDIAL SA |
890900138-9 |
COLOMBIA |
|
CIA. PINTUCO SA |
890900148 2 |
COLOMBIA |
|
CORP. GRUPO QUIMICO CA |
J-07508027-0 |
VENEZUELA |
|
DESTILADOS Y SOLVENTES SA |
8909034362 |
COLOMBIA |
|
EPOXA SA |
96807660-4 |
CHILE |
|
EXCEDENTES DESECHOS QUIMICOS INDUSTRIALES SA |
8909274588 |
COLOMBIA |
|
FLOWTITE ANDERCOL SA |
8110048052 |
COLOMBIA |
|
FUNDACION PINAR DEL RIO |
|
COLOMBIA |
|
INTEQUIM CA - QUIMICA INTEGRAL CA |
J-075048423 |
VENEZUELA |
|
NOVAPOL PLASTICOS LTDA |
|
BRAZIL |
|
POLIQUIM - POLIMEROS Y QUIMICOS CA |
0990842752001 |
ECUADOR |
|
PRODUCTORA DE ENVASES SA |
890900253-8 |
COLOMBIA |
|
TERMINADOS INDUSTRIALES SA |
8605024545 |
COLOMBIA |
|
TINTAS SA |
890908649-7 |
COLOMBIA |
|
COMMENTS ON LEGAL ASPECTS .- |
||
|
Registered in the Colombian American Chamber of Commerce. |
||
|
FINANCIAL INFORMATION |
|
CONTENT.- |
|
We had an interview with Mrs. Monica Cardona (Accountant) who
furnished commercial and general data on the company, except for financial
figures on the grounds of confidentiality. Through outside sources, we
obtained subject's Balance Sheets as of 31/12/2013 and 31/12/2012 (12 months,
each), expressed in Colombian Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2013 |
31/12/2012 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,917.40 |
1,774.50 |
|
|
.Current Total |
101,405,997,000.00 |
99,687,479,000.00 |
1.72 |
|
.Net Fixed |
148,810,413,000.00 |
149,101,107,000.00 |
-0.19 |
|
.Total Assets |
250,216,410,000.00 |
248,788,586,000.00 |
0.57 |
|
.Total Current Liabilities |
59,237,132,000.00 |
84,730,221,000.00 |
-30.09 |
|
.Long Term Accounts |
26,638,833,000.00 |
7,350,919,000.00 |
262.39 |
|
Total Liabilities |
85,875,965,000.00 |
92,081,140,000.00 |
-6.74 |
|
Total Equity |
164,340,445,000.00 |
156,707,446,000.00 |
4.87 |
|
Total Liabilities and Equity |
250,216,410,000.00 |
248,788,586,000.00 |
0.57 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2013 |
31/12/2012 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange Rate |
1,917.40 |
1,774.50 |
|
|
Net Sales |
244,553,813,000.00 |
227,553,983,000.00 |
7.47 |
|
Net Income(Net Loss) |
19,594,423,000.00 |
19,211,456,000.00 |
1.99 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,013.00 |
2,012.00 |
0.00 |
|
.NET WORKING CAPITAL |
42,168,865,000.00 |
14,957,258,000.00 |
1.82 |
|
.LIQUIDITY RATIO |
1.71 |
1.18 |
0.45 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
2.91 |
2.70 |
0.08 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
0.98 |
0.91 |
0.08 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL COMMENTS.- |
|||
|
Subject is an industrial company established in 1965, which is
operating on a profitable basis. Its financial standing is deemed as
satisfactory. COUNTRY CONTEXT - COLOMBIA: The below country comments were
obtained from a highly regarded public source that issues economic comments
on all world 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.) - Workforce 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 |
|||
|
INSURANCE.- |
|||
|
No insurance policy was found. |
|||
|
RATE OF EXCHANGE |
US$1.00 = Ps$2,335.05 as of report date |
|
OPERATIONS |
|
|
SECTOR |
1.-INDUSTRY |
|
ACTIVITY |
CHEMICAL PRODUCTS |
|
ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION,
PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
2429-Elaboration of diverse chemical products |
|
MAIN ACTIVITY |
Manufacture of chemical products such as: phtalic anhydride, alchidic
resins, PVA emulsion, polyester resins, plasticizers. |
|
% CASH SALES/PAYMENT METHOD |
50% |
|
% CREDIT SALES/TERMS |
50% (short-term facilities) |
|
TERRITORY OF SALES |
75% (Domestic market) |
|
% FOREIGN SALES |
25% |
|
% LOCAL PURCHASING |
60% |
|
% FOREIGN PURCHASING |
40% |
|
N. OF EMPLOYEES |
321 |
|
ADMINISTRATIVE OFFICES: Located at the heading address. Owned premises.
PRODUCTION PLANT: - Autopista Norte No.95-84, Medellin |
|
COMMENTS OF OPERATIONS.- |
|
The company imports alcohol (70%) and fumaric acid from USA, England
and Brazil. It has a portfolio of 200 active clients, being the main one: -
KOI WAREHOUSE INC. (USA) It has been awarded the ISO 9001 and ISO 1400A
certifications. Work shift: Monday to Friday from 07:30 h to 17:30 h. |
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO COLPATRIA SA |
601003224 |
|
|
COLOMBIA |
|
BANCOLOMBIA SA |
690331007/690331014/59803686541 |
|
|
COLOMBIA |
|
BANCO POPULAR COLOMBIA SA |
110180141301 |
|
|
COLOMBIA |
|
BANCO DE CREDITO DE COLOMBIA SA |
10100000010916 |
|
|
COLOMBIA |
|
BANCAFE |
265993097 |
|
|
COLOMBIA |
|
BANCO DE OCCIDENTE SA |
4050000480 |
|
|
COLOMBIA |
|
BANCO SUDAMERIS COLOMBIA |
63013 965 |
|
|
COLOMBIA |
|
BANCO DE BOGOTA SA |
250021763 |
|
|
COLOMBIA |
|
BANCO SANTANDER COLOMBIA SA |
0106884-0 |
|
|
COLOMBIA |
|
BANK COMENTS |
||||
|
Consulted banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
||||
|
CENTRAL RISK |
||||
|
No protested documents, returned checks, promissory notes or legal
infringements were reported against company name. |
||||
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.39 |
|
|
1 |
Rs.96.84 |
|
Euro |
1 |
Rs.75.67 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.