|
Report No. : |
310877 |
|
Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
AGRO IYASI SA |
|
|
|
|
Registered Office : |
Dr. Mariano Moreno 850 Piso 9 Dto C C1091 Capital Federal, Bs. As |
|
|
|
|
Country : |
Argentina
|
|
|
|
|
Date of Incorporation : |
25.04.2008 |
|
|
|
|
Legal Form : |
Sociedad Anonima |
|
|
|
|
Line of Business : |
Comercialization Fertilizers and
Agricultural Chemicals |
|
|
|
|
No. of Employees : |
7 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Argentina |
B1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ARGENTINA - ECONOMIC OVERVIEW
Argentina benefits from rich
natural resources, a highly literate population, an export-oriented
agricultural sector, and a diversified industrial base. Although one of the
world's wealthiest countries 100 years ago, Argentina suffered during most of
the 20th century from recurring economic crises, persistent fiscal and current
account deficits, high inflation, mounting external debt, and capital flight. A
severe depression, growing public and external indebtedness, and an
unprecedented bank run culminated in 2001 in the most serious economic, social,
and political crisis in the country's turbulent history. Interim President
Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the
government's foreign debt in December of that year, and abruptly resigned only
a few days after taking office. His successor, Eduardo DUHALDE, announced an
end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The
economy bottomed out that year, with real GDP 18% smaller than in 1998 and
almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by
an average 8.5% annually over the subsequent six years, taking advantage of
previously idled industrial capacity and labor, an audacious debt restructuring
and reduced debt burden, excellent international financial conditions, and
expansionary monetary and fiscal policies. Inflation also increased, however,
during the administration of President Nestor KIRCHNER, which responded with price
restraints on businesses, as well as export taxes and restraints, and beginning
in 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER
succeeded her husband as President in late 2007, and the rapid economic growth
of previous years began to slow sharply the following year as government
policies held back exports and the world economy fell into recession. The
economy in 2010 rebounded strongly from the 2009 recession, but has slowed
since late 2011 even as the government continued to rely on expansionary fiscal
and monetary policies, which have kept inflation in the double digits. The
government expanded state intervention in the economy throughout 2012. In May
2012 the Congress approved the nationalization of the oil company YPF from
Spain's Repsol. The government expanded formal and informal measures to
restrict imports during the year, including a requirement for pre-registration
and pre-approval of all imports. In July 2012 the government also further
tightened currency controls in an effort to bolster foreign reserves and stem
capital flight. During 2013, the government continued with a mix expansionary
fiscal and monetary policies and foreign exchange and imports controls to limit
the drain in Central Bank foreign reserves, which nevertheless dropped US $12
billion during the year. GDP grew 3% and inflation remained steady at 25%,
according to private estimates. In October 2013, the government settled
long-standing international arbitral disputes (including with three US firms) dating
back to before and following the 2002 Argentine financial crisis. In early
2014, the government embraced a series of more orthodox economic policies. It
devalued the peso 20%, substantially tightened monetary and fiscal policies,
and took measures to mend ties with the international financial community,
including: engaging with the IMF to improve its economic data reporting,
reaching a compensation agreement with Repsol for the expropriation of YPF, and
presenting a proposal to pay its arrears to the Paris Club.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
|
Legal Name: |
AGRO IYASI SOCIEDAD ANONIMA |
|
Trade Name: |
AGRO IYASI SOCIEDAD ANONIMA |
|
CUIT: |
30-71054217-8 |
|
Date Created: |
25/04/2008 |
|
Date Incorporated: |
25/04/2008 |
|
Legal Address: |
Dr. Mariano Moreno 850 Piso 9 Dto C C1091 Capital Federal, Bs. As |
|
Operative Address: |
Dr. Mariano Moreno 850 Piso 9 Dto C C1091 Capital Federal, Bs. As |
|
Telephone: |
54 11 43431004 |
|
Fax: |
54 11 60889237 |
|
Legal Form: |
Sociedad Anonima |
|
Email: |
|
|
Registered in: |
Argentina |
|
Website: |
www.agroiyasi.com.ar |
|
Contact: |
Gustavo Javier Miyashiro, President |
|
Staff: |
7 |
|
Activity: |
Comercialization Fertilizers and Agricultural Chemicals |
|
|
|
|
BANKS |
According to Argentinian Central Bank, the company maintains credit
lines with the following banks: |
|
BANK |
AMOUNT IN THOUSANDS AR$ |
|
BANCO CREDICOOP COOPERATIVO LIMITADO |
1018,9 |
|
BANCO SANTANDER RIO S.A. |
462 |
|
INDUSTRIAL AND COMMERCIAL BANK OF CHINA |
285,6 |
|
BANCO DE LA CIUDAD DE BUENOS AIRES |
61,2 |
|
|
According to the classification of banking relations of Argentina, |
|
|
This is the highest classification in the system. It means that the |
|
|
There are no rejected checks for the company. |
|
|
|
|
|
The company does not make its banking data public |
|
|
|
|
HISTORY |
Agro lyasi SA. was founded in 2008. Formed by professionals with 18 years
of experience in the agro market. |
|
|
This is a company of Japanese capital. Directly import active
ingredients, agrochemicals formulates and markets its own brand. |
|
PRINCIPAL ACTIVITY |
The company is dedicated to commercialize commodities, import raw
material from China and India and turn it into agrochemicals. Commercialize
commodities, import raw material from China and India and turn it into
agrochemicals. |
|
Products/Services description: |
HERBICIDES |
|
Brands: |
IYASI |
|
Sales are: |
Wholesale |
|
Clients: |
Farms |
|
Suppliers: |
NA |
|
Operations area: |
National and International |
|
The company imports from |
China, India |
|
The company exports to |
No exports |
|
The subject employs |
7 employees |
|
Payments: |
Regular |
|
|
|
LOCATION
|
|
|
Headquarters : |
MORENO 850, PISO 9 OF C BUENOS AIRES (1091) ARGENTINA |
|
Branches: |
The company has no branches |
|
Industry: |
Companies in this industry manufacture fertilizers and pesticides. Demand for agricultural chemicals depends mainly on demand for various
crops, which in turn depends on crop prices. The profitability of individual
companies is linked to efficient operations and marketing. Big producers have
large economies of scale in production. Smaller companies can compete
effectively by making specialty chemicals or fertilizer mixtures for local
markets. Fertilizers account for about 70 percent of US industry revenue;
pesticides (including herbicides and insecticides) account for about 30
percent. Fertilizers are a handful of commodity chemicals that contain
nitrogen, phosphorous, or potassium. Pesticides are a broader group of
chemicals, but many of the biggest sellers are also commodity products. |
|
|
|
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
AR$ 1.126.000 (company last increased capital in 2013) |
|
Shareholders %: |
This is a private company, of Japanese capital. The major holder
is Javier Miyashiro. |
|
Management: |
Gustavo Javier Miyashiro, President |
|
Related Companies: |
The company has no subsidiary companies |
|
|
|
FINANCIAL
INFORMATION
|
|
|
|
This is a private company which does not make its financial statements
public. The following data has been
provided by outside sources. |
|
|
|
|
2013 USD |
|
|
Revenue |
2 500 000 |
|
Cash Flow |
Normal |
|
|
|
LEGAL FILINGS
|
|
|
|
There are no legal connected to the subject |
|
|
|
|
SUMMARY |
AGRO IYASI SA is a company founded on April 24th 2008. It is dedicated
to the comercialization of agroquemicals products such as herbicides, insecticides and fungicides.The
company imports from China and India. There
are no negative. The company maintains good payment behavior with local banks and its
debts are medium but controlled. |
|
|
|
RISK
INFORMATION
|
|
|
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
Regular |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
|
ENTERVIEW |
|
|
NAME |
Dany |
|
POSITION |
Accountant |
|
COMMENTS |
He confirmed activity, brand and managers. He refused to confirm
financial figures. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.