MIRA INFORM REPORT
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Report No. : |
301388 |
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Report Date : |
08.01.2015 |
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IDENTIFICATION DETAILS
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Name : |
INCOMATTI FLORESTAL LTDA |
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Formerly Known As : |
BORCHERT E CIA LTDA |
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Registered Office : |
Rua Fulvio Jose Alice,349 – Higienopolis, Zip Code 82.820-450 - Curitiba/Pr |
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Country : |
Brazil |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
01.06.1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
·
Subject
operates in the Rough Sawn and Planed Field, such as Decking, Moldings, Door,
Flooring, Baseboards, Rough Sawn Simply or Planed, AD (Air Dried) and KD (in dryers). ·
Engaged in
offering products such as Decking, Frames, Jambs, Floorings, Baseboards,
Rough Saw Or Smoothed, Simply AD (Air Dey) And KD (Kiln-Dry), S4S, S2S,
T&G, Plywood, Doors, Logs & Blocks |
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No of Employees : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exists |
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) |
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Brazil |
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 |
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. In 2008,
Brazil became a net external creditor and two 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. Rising inflation led the authorities to take measures to cool the
economy; these actions and the deteriorating international economic situation
slowed growth in 2011-13. Unemployment is at historic lows and Brazil's traditionally
high level of income inequality has declined for each of the last 14 years.
Brazil's historically high interest rates have made it an attractive
destination for foreign investors. Large capital inflows over the past several
years have contributed to the appreciation of the currency, hurting the
competitiveness of Brazilian manufacturing and leading the government to
intervene in foreign exchange markets and raise taxes on some foreign capital
inflows. President Dilma ROUSSEFF has retained the previous administration's
commitment to inflation targeting by the central bank, a floating exchange
rate, and fiscal restraint.
|
Source : CIA |
Company name
INCOMATTI
FLORESTAL LTDA
company
ADDRESSES
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MAIN ADDRESS: |
RUA FULVIO JOSE ALICE,349 - HIGIENOPOLIS |
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ZIP CODE/CITY: |
82.820-450 - CURITIBA/PR |
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PHONE: |
41 3238-1798 |
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FAX: |
41 3238-6160 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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NOT AVAILABLE. |
LEGAL
DATA
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MAIN ACTIVITIES: |
|
·
Subject operates in the Rough Sawn and Planed Field, such as
Decking, Moldings, Door, Flooring, Baseboards, Rough Sawn Simply or Planed,
AD (Air Dried) and KD (in dryers). · Engaged in offering products such as Decking, Frames, Jambs, Floorings, Baseboards, Rough Saw Or Smoothed, Simply AD (Air Dey) And KD (Kiln-Dry), S4S, S2S, T&G, Plywood, Doors, Logs & Blocks |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
01/06/1996 |
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REGISTER DATE: |
01/06/1996 |
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BALANCE SHEET FILING DATE: |
31-12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
01.308.045/0001-90 |
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STATE REGISTER: |
90109869-71 |
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SHARE CAPITAL: |
R$ 1.500.000,00 |
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LAST REGISTER OF CAPITAL: |
25/05/2012 |
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BOARD OF
DIRECTORS: |
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CLEVERSON ZANETTI |
MANAGING PARTNER |
AUTHORIZED
USE OF SIGNATURE
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THE MANAGING PARTNER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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|
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CLEVERSON ZANETTI |
R$ 1.497.000,00 |
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DORACI BORCHERT |
R$ 3.000,00 |
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AFFILIATES /
SUBSIDIARIES: |
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|
|
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INCOMATTI MADEIRAS LTDA |
99,5% |
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INCOMATTI RONDONIA BIOMASSA LTDA |
80,0% |
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INCO PARTICIPAÇƠES LTDA |
90,0% |
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INCOMATTI PARA BIOMASSA LTDA |
90,0% |
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INCOMATTI AMAZONIA BIOMASSA LTDA |
80,0% |
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COMERCIAL ZANETTI LTDA |
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MADEIREIRA RUDNICK LTDA |
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COMPANY'S
BACKGROUND
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THE SUBJECT WAS ESTABLISHED ON JUNE 01, 1996 AS BORCHERT E CIA LTDA.
TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IS ALTERED TO
ABOVE-MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL
SCENE REPORTED HEREIN. PARTNERS: CLEVERSON ZANETTI, BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS CPF
016.336.859-77 AND RG 6.051.963-3 SSP/PR, RESIDENTIAL ADDRESS AT RUA ALBERTO
FOLONI, 594, APTO 302, CURITIBA/PR. DORACI BORCHERT, BRAZILIAN, SINGLE, HOLDER OF DOCUMENTS CPF
056.761.509-04 AND RG 528195-4 SSP/PR, RESIDENTIAL ADDRESS AT RUA FRANCISCO
ALVES GUIMARĂES, 322, APTO 601, CURITIBA/PR. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE
STILL WAITING FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA
NECESSARY TO COMPLETE THIS REPORT. A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE
COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A
COMPLEMENTARY REPORT WILL BE SENT TO YOUR ATTENTION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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PUBLIC INFORMATION: |
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INFORMATION ON RETURNED
CHEQUES: |
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QTY: |
DETAILS: |
LAST
ONE: |
BANK: |
|
2 |
RETURNED CHEQUES |
14/01/2013 |
BANCO HSBC S/A - AG: 1551 |
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PROTESTS: |
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10 PROTESTS,TOTAL AMOUNT R$
81.896,59 |
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DATE OF FIRST PROTEST:
24/05/2011 R$ 1.535,00 |
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DATE OF HIGHEST PROTEST:
12/11/2014 R$ 31.626,98 |
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DETAILS OF LATEST
PROTESTS: |
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NOTARY OFFICE: |
DATE: |
VALUE: |
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6º CARTÓRIO DE CURITIBA/PR |
12/11/2014 |
R$ 31.626,98 |
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6º CARTÓRIO DE CURITIBA/PR |
20/10/2014 |
R$ 3.322,89 |
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6º CARTÓRIO DE CURITIBA/PR |
22/10/2014 |
R$ 3.494,31 |
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4º CARTÓRIO DE CURITIBA/PR |
16/07/2014 |
R$ 10.604,95 |
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6º CARTÓRIO DE CURITIBA/PR |
07/07/2014 |
R$ 10.604,95 |
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LAWSUITS: |
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DATE: |
COURT OF LAW: |
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1 |
EXECUTIVE LAWSUIT |
10/02/10 |
1º VARA DE MARAVILHA/SC |
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2 |
FEDERAL LAWSUITS |
13/02/13 |
11ª VARA DE CURITIBA/PR |
FINANCIAL
INFORMATION
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GENERAL BALANCE SHEETS AS OF 30/06/2012 AND 31/12/2011. |
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( FIGURES ARE IN REAIS ). |
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ASSETS |
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CURRENT: |
30/06/2012 |
31/12/2011 |
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CASH |
12.654,00 |
10.620,50 |
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BANKS |
240.711,95 |
303.905,23 |
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CLIENTS |
5.050.154,00 |
4.566.204,56 |
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RECOVERABLE TAXES |
338.276,72 |
238.880,56 |
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INVENTORY |
2.608.567,27 |
1.903.823,72 |
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---------------- |
---------------- |
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TOTAL CURRENT ASSETS |
8.250.363,94 |
7.023.434,57 |
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FIXED ASSETS: |
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FIXED ASSETS |
26.473.842,29 |
8.623.342,29 |
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DEPRECIATIONS |
-554.467,11 |
-447.989,73 |
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---------------- |
---------------- |
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TOTAL FIXED ASSETS |
25.919.375,18 |
8.175.352,56 |
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================ |
================ |
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TOTAL ASSETS |
34.169.739,12 |
15.198.787,13 |
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LIABILITIES: |
|
|
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CURRENT: |
30/06/2012 |
31/12/2011 |
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SUPPLIERS |
162.850,20 |
175.600,62 |
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TRIBUTARY OBLIGATIONS |
622.722,31 |
593.467,04 |
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LABOR OBLIGATIONS |
37.830,83 |
34.726,07 |
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---------------- |
---------------- |
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TOTAL CURRENT LIABILITIES |
823.403,34 |
803.793,73 |
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NET EQUITY: |
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SHARE CAPITAL |
1.500.000,00 |
150.000,00 |
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ACCRUED PROFIT (LOSS) |
31.846.335,78 |
14.244.993,41 |
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---------------- |
---------------- |
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TOTAL NET EQUITY |
33.346.335,78 |
14.394.993,41 |
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================ |
================ |
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TOTAL LIABILITIES |
34.169.739,12 |
15.198.787,14 |
|
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PROFIT AND LOSS ACCOUNTS AS OF 30/06/2012 AND 31/12/2011. |
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( FIGURES ARE IN REAIS ). |
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|
30/06/2012 |
31/12/2011 |
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|
|
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GROSS SALES |
6.396.943,71 |
12.790.765,40 |
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(-) TAXES ON SALES |
456.020,88 |
953.829,41 |
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---------------- |
---------------- |
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NET SALES |
5.940.922,83 |
11.836.935,99 |
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(-) COST OF SOLD GOODS |
1.975.105,21 |
4.350.075,61 |
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---------------- |
---------------- |
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GROSS PROFIT |
3.965.817,62 |
7.486.860,38 |
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OPERATING REVENUE (EXPENSE) |
-366.393,79 |
-836.708,36 |
|
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FINANCIAL REVENUE(EXPENSE) |
-1.479,59 |
-3.349,14 |
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|
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---------------- |
---------------- |
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OPERATIONAL PROFIT (LOSS) |
3.597.944,24 |
6.646.802,88 |
|
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CONTRIBUTION/INCOME TAX |
-1.176.311,89 |
-2.023.951,48 |
|
|
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---------------- |
---------------- |
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NET PROFIT (LOSS) |
2.421.632,35 |
4.622.851,40 |
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MONTHLY SALES |
|||
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|
2012 |
2011 |
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--------------------- |
--------------------- |
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JANUARY |
R$ 575.795,02 |
R$ 548.250,56 |
|
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FEBRUARY |
R$ 529.384,19 |
R$ 551.711,40 |
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MARCH |
R$ 598.223,55 |
R$ 505.652,64 |
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APRIL |
R$ 537.500,64 |
R$ 550.250,95 |
|
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MAY |
R$ 563.345,31 |
R$ 530.256,35 |
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JUNE |
|
R$ 600.245,90 |
|
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JULY |
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R$ 525.024,33 |
|
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AUGUST |
|
R$ 606.396,10 |
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SEPTEMBER |
|
R$ 548.444,85 |
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OCTOBER |
|
R$ 583.385,52 |
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NOVEMBER |
|
R$ 550.998,19 |
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DECEMBER |
|
R$ 525.695,27 |
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TOTAL |
R$ 2.804.248,71 |
R$ 6.626.312,06 |
|
|
RATIOS: |
30/06/2012 |
31/12/2011 |
|
|
QUICK RATIO |
6,85 |
|
6,37 |
|
|
CURRENT RATIO |
10,02 |
|
8,74 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
1,18 |
TIMES |
2,59 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
153,01 |
DAYS |
138,87 |
DAYS |
|
INVENTORY TURNOVER |
,76 |
TIMES |
2,28 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
14,84 |
DAYS |
14,53 |
DAYS |
|
RETURN ON ASSETS |
,17 |
TIMES |
,78 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
,18 |
TIMES |
,82 |
TIMES |
|
NET WORTH TIE-UP |
,79 |
|
,60 |
|
|
INDEBTEDNESS |
,02 |
|
,06 |
|
|
EQUITY RATIO |
97,59 |
% |
94,71 |
% |
|
WORKING CAPITAL RATIO |
901,98 |
% |
773,79 |
% |
|
GENERAL SOLVENCY |
41,50 |
|
18,91 |
|
|
RETURN ON NET EQUITY |
7,26 |
% |
32,11 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
40,76 |
% |
39,05 |
% |
|
GROSS PROFIT MARGIN |
66,75 |
% |
63,25 |
% |
|
OPERATIONAL RESULT |
60,56 |
% |
56,15 |
% |
|
SALES TURNOVER ON LIABILITIES |
7,22 |
TIMES |
14,73 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
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|
|
|
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EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,70 |
- OFFICIAL RATE ON 06/01/2015 |
|
US$ 1,00 = R$ 2,02 |
- OFFICIAL RATE ON 30/06/2012 |
|
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 WITH POSITIVE WORKING CAPITAL AMOUNT AND LOW LEVEL OF
INDEBTEDNESS. IN ADDITION IT IS NOTED GROWING SALES AND HIGH PROFITABILITY. THE INTERIM FIGURES FOR JUNE 2012 SHOW IMPROVEMENT IN THE FINANCIALS.
BOTH INDEBTEDNESS AND LIQUIDITY RATIOS WERE IMPROVED. IN ADDITION IT IS NOTED
GROWING SALES TREND AND THE OPERATIONS ARE PROFITABLE. REMARKS: THE COMPANY DID NOT PROVIDE CLARIFICATION ABOUT SUCH INCREASE IN NET
EQUITY. HOWEVER, TAKING INTO ACCOUNT THE HIGH INCREASE IN FIXED ASSETS, WE ASSUME
IT IS DUE TO REVALUATION OF FIXED ASSETS. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 6.000.000,00
|
VEHICLES: |
NOT AVAILABLE
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 2.104.630,69
INSURANCE
|
NOT AVAILABLE. |
BANKING
REFERENCES
|
|
BRANCH/PHONE: |
|
|
BANCO HSBC S/A |
1551 / 41 3532-5400 |
|
|
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 02 RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
ACTIVITIES
COMMENTS
·
Subject operates in the Rough Sawn and Planed Field, such as
Decking, Moldings, Door, Flooring, Baseboards, Rough Sawn Simply or Planed, AD
(Air Dried) and KD (in dryers).
·
Engaged in offering products such as Decking, Frames, Jambs,
Floorings, Baseboards, Rough Saw Or Smoothed, Simply AD (Air Dey) And KD
(Kiln-Dry), S4S, S2S, T&G, Plywood, Doors, Logs & Blocks
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
BOLIVIA, PERU, COLOMBIA, GHANA, NIGERIA, INDONESIA, MALASIA, CAMEROON
AND CONGO. VALLUE (ANNUAL) US$ 2.000.000,00 |
EXPORTS TO:
|
JAPAN, VENEZUELA, SURINAME, PERU, USA, ARAB EMIRATES, CONGO, GABON,
NIGERIA, INDONESIA, FINLAND, VIETNAM, NICARAGUA, SPAIN, PORTUGAL, BELGIUM,
FRANCE, ITALY, BOLIVIA, COLOMBIA, HONDURAS, COSTA RICA, PANAMA, TURKEY, SINGAPURE,
SWEDEN, SWITZERLAND, SURINAME, DENMARK, CHINA, GERMAN, ENGLAND, RUSSIA, ETC. VALUE (ANNUAL) US$ 9.000.000,00 |
|
MAIN CLIENTS: |
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|
|
|
|
|
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DOMESTIC
CLIENTS: |
|
|
|
NOT AVAILABLE. |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 80 EMPLOYEE(S) |
CONCEPT
AND FULFILMENT
|
THE SUBJECT WAS ESTABLISHED IN 1996. SO FAR IT HAS IT HAS A FEW
PROTESTS AND A COUPLE OF RETURNED CHEQUES REGISTERED. ACCORDING TO THE COMPANY THE PROTESTS ARE DUE TO INVOICES SOMEONE FORGED
IN ORDER TO FORCE THE COMPANY TO PAY A VALUE THAT IT DOES NOT OWE. AS FAR AS
THE RETURNED CHEQUE IS CONCERNED THE COMPANY STATED THAT IT IS A CHEQUE THAT
HAS BEEN STOLEN AND THE COMPANY IS MANAGING TO SETTLE IT. IN BOTH CASES THE
COMPANY HAS TAKEN JUDICIAL PROCEEDING BUT THE PROCESS IS VERY SLOW AND THE
TIME OF SOLUTION CANNOT BE PREDICTED. |
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
PHONE: |
|
DSI INTERNATIONAL |
USA |
1-843 557 55 93 |
|
LEONARDO VEGA |
BOLIVIA |
591 701 518 71 |
|
LIYANG YONGLI AGRO MACHINERY |
CHINA |
86-519-80895908 |
|
PAYMENT HISTORY: |
|
PAYMENT HISTORY: |
|
NO PAYMENT RECORD IS REGISTERED. |
FINAL
OPINION
|
BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL
BUSINESS COMMITMENTS. CREDIT FACILITIES, HOWEVER, SHOULD BE GRANTED ON FULLY
SECURED TERMS ONLY DUE TO THE ABSENCE OF UPDATED FINANCIAL DATA. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
MNL |
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.