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Report No. : |
304231 |
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Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
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Name : |
CHEMICAL
PROVIDERS, INC. |
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Registered Office : |
27 V. V. Soliven Ave. III, V. V. Soliven Complex, Brgy.vidro, Cainta, Rizal, |
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Country : |
Philippines |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
09.01.1998 |
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Legal Form : |
Private Corporation |
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Line of Business : |
Subject is engaged in the business of importing and trading of chemicals as raw materials for various industries, handicrafts/Christmas decors, paints, printing inks and plastics, soap and detergent, home and personal cares. |
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No. of Employee : |
Not available |
RATING and 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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Philippines |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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).
|
Source
: CIA |
Company: CHEMICAL PROVIDERS, INC.
Address: 27 V. V. Soliven Ave. III, V. V. Soliven Complex,Brgy. Ividro, Cainta, Rizal
Country:
Philippines
Service Type:
Normal
We conducted research and investigation on CHEMICAL PROVIDERS, INC. and
showed the following, viz:
VERIFICATION WITH
SECURITIES & EXCHANGE COMMISSION (SEC):
CHEMICAL PROVIDERS, INC.
Legal Entity - Private Corporation
(Per
GIS dated 4.23.14)
a)
Certificate
No. : A199800253
b)
Date : January 09, 1998
c)
Term : Fifty (50) years
d)
Corporate
Tax No. : 200-644-188-000
e)
Company
Type : Stock Corporation
f)
Telephone
No. : (632) 647 4934; 681 0537; 243 0121
g)
Fax
No. : (632) 647 4934
Address: 1) 27 V. V. Soliven Ave. III, V. V. Soliven
Complex, Brgy. San Isidro, Cainta, Rizal.
2) 8-A Maayusin St., UP Village, Diliman, Quezon
City.
(Note:
Currency in Philippine Peso, unless otherwise specified)
(As of 2014)
Authorized
Capital Stock
- 10,000,000. –
100,000 Shares Common
Amount Subscribed
& Fully Paid Up - 2,500,000. -
25,000 Shares
Par value per Share - 100.
Trading of imported industrial chemical raw material on wholesale and
retail basis.
|
Name |
Position |
Amount Paid Up |
|
Sylvia S. Reyes |
Chairperson/President |
1,249,700. |
|
Miguel Rafael Z.
Reyes |
VP/Treasurer |
1,250,000. |
|
Andres Antonio S.
Reyes |
Corporate Secretary |
100. |
|
Paulino O. Polintan |
Director |
100. |
|
Lorna Lopez
Macariola |
Director |
100. |
|
|
|
2,500,000. vvvvvvvvv |
Subject company, since inception, continue to engaged in the business of importing & trading of chemicals as raw materials for various industries, handicrafts/Christmas decors, paints, printing inks & plastics, soap and detergent, home and personal cares.
Handicraft/christmas décor - glitters; bronze powder; aluminum paste; hot and stamping foils; powder; powder; water based basic Dyes; pearl pigments and others.
Paints,
Printing Inks and Plastics - metal complex; solvent Dyes,
oil soluble Dyes, glass and ceramic as
grinding media.
Soap
and Detergent / Home and Personal cares - n on-ionics surfactants, Triclosan, pig mosal
blue green, etc.
Telephone Nos. : (632) 740 9554; 741 1262; 743 5258
Fax Nol.
: (632)
742 8956
Email :
chemprovinc@pldtdsl.net
Contact Persons :
Sylvia Reyes / Analiza dela Vega
(Audited Financial
Statement for years 2013, 2012, and 2011, as compiled)
Balance Sheet
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ASSETS |
|||
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|
2013 |
2012 |
2011 |
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Current
Asset |
|
|
|
|
Cash |
1,029,192. |
1,141,080. |
4,684,810. |
|
Inventories |
3,446.592. |
3,061,639. |
600.393. |
|
Other Current Asset |
261,696. |
298,620. |
295,367. |
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Total
Current Assets |
4,737,480. |
4,501,339. |
5,580,570. |
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|
|
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Non-
Current Asset |
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|
|
|
Property and Equipment, net |
1,348,352. |
1.464.925. |
1.581,498. |
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Total
Assets |
6,085,832.
vvvvvvvvvv |
5,966,264. vvvvvvvvvv |
7,162,068.
vvvvvvvvvv |
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LIABILITIES AND STOCKHOLDER’S EQUITY |
|||
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Current Liabilities |
|
|
|
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Trade and Taxes Payable |
717,880. |
604,168. |
742,147. |
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Accrued Exps. and Other Current Liabilities |
377,453. |
380,721. |
1,477,576. |
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Total
Current Liabilities |
1,095,333. |
984,889. |
2,219,723. |
|
Total
Liabilities |
1,095,333. |
984,889. |
2,219,723. |
|
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|
|
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Stockholder’s Equity |
|
|
|
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Subscribed and Paid
Up Capital |
2,500,000. |
2,500,000. |
2,500,000. |
|
Retained Earnings |
2,490,499. |
2,481,375. |
2,442,345. |
|
Total Stockholder’s Equity |
4,990,499. |
4,981,375. |
4,942,345. |
|
Total Liabilities and Equity |
6,085,832. vvvvvvvvv |
5,966,264. vvvvvvvvv |
7,162,068. vvvvvvvvv |
INCOME STATEMENT
|
Sales |
30,155,265. |
30,250,116. |
28.915,389. |
|
Gross Profit |
6,312,710. |
6,375,251. |
6,072,182. |
|
Less: Operating
Expenses |
( 5,871,088.) |
( 5,890,939.) |
( 5,104,886.) |
|
Net Profit
before Income tax |
441,622. |
484,312. |
967,296. |
|
NET INCOME |
309,135. vvvvvvvvvvv |
503,996. vvvvvvvvvvv |
480,375. vvvvvvvvvvvv |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.89 |
|
|
1 |
Rs. 93.92 |
|
Euro |
1 |
Rs. 72.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
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 |
|
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.