|
Report No. : |
329189 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SINTENAC INDÚSTRIA E COMÉRCIO DE PRODUTOS SINTÉTICOS LTDA |
|
|
|
|
Registered Office : |
Rua Pernambuco,170 - Esquina Com A Rua Bahia - Vila Oriental,
09941-720 - Diadema/Sp |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
28.10.1989 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Chemical Products. |
|
|
|
|
No. of Employees : |
38 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. Since 2008, Brazil became a net
external creditor and all three of the major 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. After reaching historic lows of 4.5% in early 2014, the unemployment
rate remains low, but is rising. Brazil's traditionally high level of income
inequality has declined for each of the last 15 years. GDP growth has slowed
since 2011, due to several factors, including: overdependence on exports of raw
commodities, low productivity, high operational costs, persistently high
inflation, and low levels of investment. Brazil’s fiscal and current account
balances have eroded during the past four years as the government attempted to
boost economic growth through targeted tax cuts for industry and incentives to
spur household consumption. After winning re-election in October 2014 by a
historically narrow margin, President Dilma ROUSSEFF appointed a new economic
team led by Finance Minister Joaquim LEVY, who introduced a fiscal austerity
package intended to restore the primary account surplus to 1.2% of GDP and
preserve the country’s investment-grade sovereign credit rating. Brazil seeks
to strengthen its workforce and its economy over the long run by imposing local
content and technology transfer requirements on foreign businesses, by
investing in education through social programs such as Bolsa Familia and the
Brazil Science Mobility Program, and by investing in research in the areas of
space, nanotechnology, healthcare, and energy.
|
Source
: CIA |
SINTENAC INDÚSTRIA
E COMÉRCIO DE PRODUTOS SINTÉTICOS LTDA
ADDRESSES:
|
|
MAIN ADDRESS: |
RUA PERNAMBUCO,170 - ESQUINA COM A RUA BAHIA - VILA ORIENTAL |
|
ZIP CODE/CITY: |
09941-720 - DIADEMA/SP |
|
|
|
|
PHONE: |
11 4075-3711 |
|
FAX: |
11 4075-3711 |
|
E-MAIL: |
afonsohenrique@sintenac.com.br |
|
WEB SITE: |
www.sintenac.com.br |
|
BRANCHES: |
|
NOT AVAILABLE. |
LEGAL
DATA:
|
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF CHEMICAL PRODUCTS. |
|
LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
|
|
|
|
INCORPORATION DATE: |
28/10/1989 |
|
REGISTER DATE: |
28/10/1989 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
61.976.916/0001-76 |
|
STATE REGISTER: |
286.090.102.118 |
|
|
|
|
SHARE CAPITAL: |
R$ 50.000,00 |
|
LAST REGISTER OF CAPITAL: |
02/01/1999 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
LUIS FONTANILLAS VAL |
MANAGER |
|
JOSÉ ANTONIO FONTANILLAS VAL |
MANAGER |
|
CESAR GONZALEZ LOPEZ |
MANAGER |
|
AFONSO HENRIQUE JECK GARCIA |
MANAGER |
AUTHORIZED
USE OF SIGNATURE:
|
|
THE MANAGERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
LUIS FONTANILLAS VAL |
25% |
|
JOSÉ ANTONIO FONTANILLAS VAL |
25% |
|
CESAR GONZALEZ LOPEZ |
25% |
|
AFONSO HENRIQUE JECK GARCIA |
25% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
A SCAN THROUGH OUTSIDE
SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING
UNCONFIRMED HOLDINGS: |
|
|
SANTO ANDRE VENT EVENTOS LTDA -
ME |
|
COMPANY'S
BACKGROUND:
|
|
THE SUBJECT WAS ESTABLISHED ON OCTOBER 28, 1989 TO BE ENGAGED IN THE SAID
LINE OF BUSINESS. TRADE NAME: "SINTENAC". THE COMPANY HAS THE ISO 9001:2008 CERTIFICATION. PARTNERS: LUIS FONTANILLAS VAL: SPANISH, MARRIED, INDUSTRIAL, HOLDER OF
DOCUMENTS RG/RNE W 398296 - Q SE/DPMAF AND CPF 839.058.048-91, RESIDENTIAL
ADDRESS AT AVENIDA WASHINGTON LUIZ, 517, APTO 81, ZIP CODE 11055-001, BAIRRO
BOQUEIRÃO, SANTOS/SP; JOSÉ ANTONIO FONTANILLAS VAL: SPANISH, MARRIED, INDUSTRIAL, HOLDER OF
DOCUMENTS RG/RNE W 564987 - N SE/DPMAF AND CPF 008.925.128-81, RESIDENTIAL
ADDRESS AT RUA JOÃO FERNANDES, 145, APTO 91, ZIP CODE 09090-740, BAIRRO VILA
ALPINA, SÃO PAULO/SP; CESAR GONZALEZ LOPEZ: BRAZILIAN, DIVORCED, INDUSTRIAL, HOLDER OF
DOCUMENTS RG 9.369.842 SSP/SP AND CPF 094.761.588-16, RESIDENTIAL ADDRESS AT
AVENIDA SÃO PAULO ANTIGO, 500, APTO 84, ZIP CODE 05684-011, BAIRRO REAL
PARQUE, SÃO PAULO/SP; AFONSO HENRIQUE JECK GARCIA: BRAZILIAN, MARRIED, INDUSTRIAL, HOLDER OF
DOCUMENTS RG 9.198.960-7 SSP/SP AND CPF 068.935.318-93, RESIDENTIAL ADDRESS
AT RUA MARANHÃO, 862, APTO 21, ZIP CODE 09541-001, BAIRRO SANTA PAULA, SÃO
CAETANO DO SUL/SP. 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. |
|
PUBLIC INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL
INFORMATION:
|
|
GENERAL BALANCE SHEETS AS OF 31/12/2011. |
|
( FIGURES ARE IN REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2011 |
|
|
|
|
|
|
|
|
CASH |
13.791,75 |
|
|
|
BANKS |
4.144.224,52 |
|
|
|
CLIENTS |
1.540.153,85 |
|
|
|
RECOVERABLE TAXES |
84.692,60 |
|
|
|
ADVANCE TO EMPLOYEES |
582,93 |
|
|
|
IMPORTS IN PROGRESS |
21.382,57 |
|
|
|
INVENTORY |
1.822.770,86 |
|
|
|
PRE PAID EXPENSES |
10.657,02 |
|
|
|
|
---------------- |
|
|
|
TOTAL CURRENT ASSETS |
7.638.256,10 |
|
|
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
1.306.081,69 |
|
|
|
INTANGIBLE |
18.570,44 |
|
|
|
|
---------------- |
|
|
|
TOTAL FIXED ASSETS |
1.324.652,13 |
|
|
|
|
================ |
|
|
|
TOTAL ASSETS |
8.962.908,23 |
|
|
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2011 |
|
|
|
|
|
|
|
|
SUPPLIERS |
364.228,54 |
|
|
|
TAXES & CONTRIBUTIONS |
366.482,89 |
|
|
|
SOCIAL / LABOR OBLIGATIONS |
22.881,44 |
|
|
|
OTHER |
1.249,08 |
|
|
|
|
---------------- |
|
|
|
TOTAL CURRENT LIABILITIES |
754.841,95 |
|
|
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
50.000,00 |
|
|
|
CAPITAL RESERVES |
21.893,55 |
|
|
|
ACCRUED PROFIT (LOSS) |
-,02 |
|
|
|
PROFIT RESERVES |
8.136.172,75 |
|
|
|
|
---------------- |
|
|
|
TOTAL NET EQUITY |
8.208.066,28 |
|
|
|
|
================ |
|
|
|
TOTAL LIABILITIES |
8.962.908,23 |
|
|
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2011. |
|
( FIGURES ARE IN REAIS ). |
|
|
31/12/2011 |
|
|
|
|
|
|
|
|
GROSS SALES |
18.037.051,16 |
|
|
|
(-) TAXES ON SALES |
4.048.974,38 |
|
|
|
|
---------------- |
|
|
|
NET SALES |
13.988.076,78 |
|
|
|
(-) COST OF SOLD GOODS |
7.227.758,34 |
|
|
|
|
---------------- |
|
|
|
GROSS PROFIT |
6.760.318,44 |
|
|
|
OPERATING REVENUE (EXPENSE) |
-1.257.652,95 |
|
|
|
FINANCIAL REVENUE(EXPENSE) |
-3.331,36 |
|
|
|
|
---------------- |
|
|
|
OPERATIONAL PROFIT (LOSS) |
5.499.334,13 |
|
|
|
NON-OPERATING RESULT |
-29.264,00 |
|
|
|
CONTRIBUTION/INCOME TAX |
-513.054,62 |
|
|
|
|
---------------- |
|
|
|
NET PROFIT (LOSS) |
4.957.015,51 |
|
|
|
MONTHLY SALES |
|||
|
|
2012 |
|
|
|
|
--------------------- |
|
|
|
JANUARY |
R$ 1.355.610,00 |
|
|
|
FEBRUARY |
R$ 891.045,00 |
|
|
|
MARCH |
R$ 1.051.399,00 |
|
|
|
APRIL |
R$ 1.177.023,00 |
|
|
|
MAY |
R$ 1.322.456,00 |
|
|
|
JUNE |
R$ 1.572.054,00 |
|
|
|
JULY |
R$ 1.615.513,00 |
|
|
|
AUGUST |
R$ 1.170.188,00 |
|
|
|
SEPTEMBER |
|
|
|
|
OCTOBER |
|
|
|
|
NOVEMBER |
|
|
|
|
DECEMBER |
|
|
|
|
TOTAL |
R$ 10.155.288,00 |
|
|
|
RATIOS: |
31/12/2011 |
|
|
|
QUICK RATIO |
7,70 |
|
|
|
|
|
|
CURRENT RATIO |
10,12 |
|
|
|
|
|
|
ACCOUNTS RECEIVABLE TURNOVER |
9,08 |
TIMES |
|
|
|
|
|
DAYS' SALES IN RECEIVABLES |
39,64 |
DAYS |
|
|
|
|
|
INVENTORY TURNOVER |
3,97 |
TIMES |
|
|
|
|
|
ACCOUNTS PAYABLE PERIOD |
18,14 |
DAYS |
|
|
|
|
|
RETURN ON ASSETS |
1,56 |
TIMES |
|
|
|
|
|
SALES TURNOVER ON NET EQUITY |
1,70 |
TIMES |
|
|
|
|
|
NET WORTH TIE-UP |
,16 |
|
|
|
|
|
|
INDEBTEDNESS |
,09 |
|
|
|
|
|
|
EQUITY RATIO |
91,58 |
% |
|
|
|
|
|
WORKING CAPITAL RATIO |
911,90 |
% |
|
|
|
|
|
GENERAL SOLVENCY |
11,87 |
|
|
|
|
|
|
RETURN ON NET EQUITY |
60,39 |
% |
|
|
|
|
|
RETURN ON SALES (PROFIT MARGIN) |
35,44 |
% |
|
|
|
|
|
GROSS PROFIT MARGIN |
48,33 |
% |
|
|
|
|
|
OPERATIONAL RESULT |
39,31 |
% |
|
|
|
|
|
SALES TURNOVER ON LIABILITIES |
18,53 |
TIMES |
|
|
|
|
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 3,08 |
- OFFICIAL RATE ON 24/06/2015 |
|
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 FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. IT IS NOTED HIGH
LIQUIDITY RATIOS AND GOOD WORKING CAPITAL AMOUNT, AS WELL AS VERY LOW LEVEL
OF INDEBTEDNESS. IN ADDITION IT IS NOTED HIGH PROFIT. |
|
REAL ESTATE: |
NOT AVAILABLE
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$
1.000.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS
ARE VALUED AT R$ 1.800.000,00
INSURANCE:
|
|
NOT AVAILABLE. |
BANKING
REFERENCES:
|
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO SANTANDER (BRASIL) S/A |
0613 / 11 4043-3566 |
DIADEMA/SP |
|
BANCO DO BRASIL S/A |
3357-X / 11 2833-6321 |
SÃO BERNARDO DO CAMPO/SP |
|
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 NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). DATE RESEARCHED JUNE 24, 2015. |
ACTIVITIES
COMMENTS:
|
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF CHEMICAL PRODUCTS, WITH
ITS CORE PRODUCTS BEING ANTI-CORROSIVE ADDITIVES AND ANTI-OXIDANTS IN
GENERAL. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
UNITED STATES, SWITZERLAND, GERMANY, INDIA AND CHINA. |
EXPORTS TO:
|
ARGENTINA. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
PHONE: |
|
ALESAT |
|
11 6168-2013 |
|
CHEVRON |
|
11 3687-5033 |
|
COPERSUCAR |
|
|
|
IMBRAMIL |
|
11 4035-7600 |
|
OXITENO |
|
11 3177-6028 |
|
SGH |
|
19 3583-9129 |
|
TEXACO |
|
11 3687-5033 |
|
TIRRENO |
|
11 4053-3333 |
|
STAFF: |
|
|
|
THE COMPANY HAS: 38 EMPLOYEE(S) |
CONCEPT
AND FULFILMENT:
|
|
THE SUBJECT WAS ESTABLISHED IN 1989. SO FAR IT OPERATES WITH GROWING
SCALE OF ACTIVITIES, A CLEAR TRADE HISTORY AND FAVORABLE TRADE REPUTATION. THE COMPANY HAS TRADE RELATIONS WITH SOME SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
PHONE: |
|
AMCOR PET PACKAGING DO BRASIL LTDA |
|
19 3878-9023 |
|
BRASILBOR COM. E REPRES. LTDA |
|
11 5851-6250 |
|
DOW CORNING |
|
|
|
IPPLAST IND PAULISTA DE PLÁSTICOS LTDA. |
|
11 4652-7400 |
|
MAUSER CIA DE EMBALAGENS INDUSTRIAIS S.A |
|
21 2761-7418 |
|
METALÚRGICA BARRA DO PIRAÍ S/A |
|
21 3868-5220 |
|
OXITENO NORDESTE S/A. IND. E COMÉRCIO |
|
11 3177-6192 |
|
SOLVAY QUÍMICA LTDA |
|
11 3708-5100 |
|
VEDAT TAMPAS HERMÉTICAS LTDA |
|
11 2133-1200 |
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
PHONE: |
|
BASF |
GERMANY |
11 4343-2932 |
|
EMERALD MATERIALS |
UNITED STATES |
513 841-3752 |
|
NOVEON HILTON DAVIS |
UNITED STATES |
513 841-3752 |
|
VIDHI |
INDIA |
5122 2351-4349 |
|
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.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.