MIRA INFORM REPORT
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Report No. : |
330351 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
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Name : |
MANUFACTURAS ELIOT SAS |
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Registered Office : |
Calle 18 A 69 B 06, Santa Fe De Bogota Bogota D.C. |
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Country : |
Colombia |
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Date of Incorporation : |
15.06.1957 |
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Legal Form : |
Sociedad Anonima |
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Line of Business : |
Manufacturer of Clothing |
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No of Employees : |
4098 |
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 : |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Colombia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
COLOMBIA - CONOMIC 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 four years, continuing almost a decade of strong economic performance. All three major ratings agencies have upgraded Colombia's government debt to investment grade, which helped to attract record levels of investment in 2013 and 2014, mostly in the hydrocarbons sector. 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, inequality, poverty, narco-trafficking and an uncertain security situation. Moreover, the unemployment rate of 9.2% in 2014 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. In 2014, Colombia passed a tax reform bill to offset the lost revenue from the global drop in oil prices. The SANTOS administration is also using tax reform to help finance implementation of a peace deal, in the event FARC and the government reach an agreement in 2015. Colombian officials estimate a peace deal may bolster economic growth by almost 2%.
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Source
: CIA |
REGISTERED
NAME & COMPANY SUMMARY
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IDENTIFICATION |
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Ordered
as: |
Manufacturas
Eliot SAS |
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Address
in the order: |
Calle 18
A 69B-06 Bogota Cundinamarca |
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Comments
on data supplied: |
Please see below the correct legal form of the
company. |
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Legal
Name: |
MANUFACTURAS
ELIOT SA |
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Legal
Address |
CALLE 18
A 69 B 06 |
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Postal
Town |
SANTA FE
DE BOGOTA |
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Post Code |
N.A. |
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Primary
Geographic Area |
BOGOTA
D.C. |
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Country |
CO |
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Operative
Address |
CALLE 18
A 69 B 06 SANTA FE
DE BOGOTA, COLOMBIA (617) |
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Telephone: |
+571-4059400/571-4140677/405-5252 |
NIT: |
860000452-6 |
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Fax: |
+571-4059097 |
Legal
Form: |
Sociedad
Anonima |
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Email: |
jgarcia@patprimo.com.co |
Registered
in: |
CO |
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Website: |
http://manufacturaseliot.com.co/(not working) |
Date
Created: |
1957 |
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MANAGERS: |
Douer
Ambar Jose, Legal representative |
Date
Incorporated: |
June
15th, 1957 |
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Staff: |
4 098 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity:
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Clothing
Manufacturer. |
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DIRECTORS/MANAGEMENT
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Management: |
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Douer Ambar Jose, Legal Representative Douer Mishaan Alberto, Legal Representative Salazar Arango Jaime , Legal Representative Villegas
Hernandez Enrique, Legal Representative |
NEGATIVE
INFORMATION
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Legal
Filings |
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The sources consulted record no detrimental legal or labor court
information. |
SHARE
& SHARE CAPITAL INFORMATION
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Shareholders
Parent Company(ies): |
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This is a private company; despite our effort we could not identify
the main shareholders. |
PAYMENT
INFORMATION
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PAYMENTS |
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made on a 50 days basis - monitored over the last 12 months |
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Clients: |
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Public in general. |
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Operations area: |
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National, International, Local |
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The company imports from China, EEUU, Brasil y Singapur. |
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The company exports to Mexico, Venezuela, Ecuador, Costa Rica. |
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Trade References: |
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We could not obtain information about local suppliers for us to check
trade references. |
GROUP
STRUCTURE & AFFILIATED COMPANIES
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RELATED COMPANIES: |
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It would be related with Pat Primo (Pash S.A.S.); however we could not
confirm this information. |
FINANCIAL
INFORMATION
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FINANCIALS - COMMERCIAL TRENDS AND
FORECAST |
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As a private company the subject does not publish any financial
statements. |
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We have contacted German Casas from the Finance department, who refused
to provide us any financial data on grounds of confidentiality. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and financial
institutions working with the company. |
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Currency |
DATE |
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COP |
2013 |
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Turnover |
530 807 000 |
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Operating Income |
48 118 000 |
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Net Income |
4 421 000 |
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Current Assets |
497 529 000 |
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Non-Current Assets |
125 407 000 |
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Net worth |
244 311 000 |
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Liabilities |
378 625 000 |
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The cash flow is |
Normal |
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Comments on the financial data: Please find attached a copy of the FS
of the company. We have transcribed the main figures for a better
understanding. |
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Profitability |
LOW |
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Indebtedness |
CONTROLLED |
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Cash |
NORMAL |
FOREIGN
EXCHANGE RATES
N/a
ADDITIONAL
INFORMATION
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BANKS |
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Name of the Bank |
BANCO DE OCCIDENTE SA |
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Comments |
This information was not verified by the company. |
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Name of the Bank |
BANCOLOMBIA SA |
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Comments |
This information was not verified by the company. |
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BUSINESS HISTORY |
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The company was created in the year 1957, in Santa Fe de Bogota,
Colombia. |
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PRINCIPAL ACTIVITY |
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Manufacturas Eliot SA manufactures textile products. |
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Products/Services description: |
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The company offers T-shirts, jeans, shirts, trouser, nighty, skirts,
under garments, accessories, dresses for men, women and children. Among others. |
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Sales are: |
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Retail |
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Brands: |
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PATPRIMO |
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The subject employs 4 098 employee(s) |
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Comments on staff: |
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The number of employees was not verified by the company. |
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LOCATION |
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Headquarters |
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CALLE 18 A 69 B 06, SANTA FE DE BOGOTA, COLOMBIA (617) |
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The property is: |
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Owned |
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Branches: |
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No branches were reported. |
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Listed at the stock exchange: |
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NO |
NOTES
& COMMENTS
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Person Interviewed |
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German Casas |
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Position |
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Finance department |
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Comments |
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The person contacted refused to provide any information, on grounds of
confidentiality. |
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Final
Opinion |
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This is a large size company located in Colombia and established in
the market in 1957. It seems to be well established. This is privately held company, which operates with approximately 4
098 employees. Financially, its turnover has decreased for the period 2013, compared
with the period 2012 and its profitability is low. There were no legal filings found against the company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.40 |
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|
1 |
Rs. 98.94 |
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Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.