MIRA INFORM REPORT
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Report No. : |
314540 |
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Report Date : |
28.03.2015 |
IDENTIFICATION DETAILS
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Name : |
EMPERADOR
DISTILLERS, INC |
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|
|
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Registered Office : |
6th Floor, The World Center 330 Senator Gil J. Puyat Avenue Makati City |
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Country : |
Philippines |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
06.06.2003 |
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Legal Form : |
Private Corporation |
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Line of Business : |
Manufacturing and
Trading of alcohol, wine or liquor products |
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No. of Employee : |
778 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Philippines |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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
name and address
Company: EMPERADOR DISTILLERS, INC.
Address: 6th Floor, The World Center
330 Senator Gil J. Puyat Avenue
Makati City
Country: Philippines
Service Type: Normal
FINDINGS
We conducted
research and investigation on EMPERADOR DISTILLERS, INC. and showed the
following, viz:
VERIFICATION WITH SECURITIES & EXCHANGE COMMISSION (SEC): EMPERADOR DISTILLERS,
INC. DOING BUSINESS UNDER THE NAME & STYLE OF EDI INTERNATIONAL
Legal Entity - PRIVATE CORPORATION
REGISTRATION
(Per 2014 General
Information Sheet)
Certificate No. : CS00312712
Date : June 06, 2003
Term
: Fifty (50) years
Type of Organization
: Stock Corporation
Corporate Taxpayer
ID No.
: 238-684-383
Telephone Nos.
: (63) 2 867-8019 / 709-2029
Fax No. : (63) 2 709-2021
Address
: 7th Floor, 1880
East Avenue, Eastwood City Cyberpark,
E. Rodriguez Avenue, Bagumbayan, Quezon
City
PRIMARY
PURPOSE
Manufacturing and Trading of alcohol, wine or liquor products.
PARENT
COMPANY
EMPERADOR INC. ( SEC No. A200117595)
SUBSIDIARY/AFFILIATES
1. EMPERADOR INTERNATIONAL LTD., P.O. Box 3444, Road Town, Tortola,
British Virgin Island
2. THE BAR BEVERAGES INC., Eastwood
City Cyberpark, E. Rodriguez Avenue, Bagumbayan, Quezon City
3. ANGLO WATSON GLASS INC., Eastwood City Cyber- Park, E. Rodriguez
Avenue, Bagumbayan, Quezon City
(NOTE: Unless
otherwise specified, the amount is in Philippine Peso (Php) )
CAPITALIZATION
No. of Shares Par
Value/share Amount
Authorized Capital Stock -
Common - 22,000,000,000 - 1.00 - 22,000,000,000.
Subscribed & Paid Up
Common - 12,500,000,000 -
- 12,500,000,000.
SHAREHOLDERS
/ DIRECTORS / OFFICERS
|
Name |
Position |
Amount Paid Up |
|
Andrew L. Tan, Pilipino |
Chairman |
1. |
|
Winston S. Co |
President |
1. |
|
Kevin Andrew L. Tan |
Director |
1. |
|
Katherine L. Tan |
Treasurer |
1. |
|
Kendrick Andrew L. Tan |
Corp. Sec./Exec.
Dir. |
1.
|
|
EMPERADOR INC. |
NIL Total |
12,499,999,995.
12,500,000,000. vvvvvvvvvvvvvvvv |
Dividends declared - 3,702,134,051. dated July 5, 2013
Additional Shares issued during the period -
10,500,000,000.
Number of Rank & File employees - 778
Number of Officers - 12
ANDREW
L. TAN
ranked no. 330 in the 2015 Forbes Magazine’s list of
WORLDS
BILLIONAIRES. Own and operates several business
conglomerates in
major industries in the Phils. & abroad. Also, own
MEGAWORLD CORP.,
major player in Phil. real estate industry.
BUSINESS
ACTIVITY
Subject company is wholly owned subsidiary of ALLIANCE
GLOBAL
GROUP INC. (AGI), a domestic holding company with
diversified investments in real estate, food, beverages, manufacturing, quick
service restaurants & tourism oriented
businesses. AGI’s Shares of
Stocks is listed in Philippine Stock Exchange.
The company’s popular product – “Emperador Brandy”
Plant Site:
Greenfield Auto Park, Santa Rosa, Laguna (industrial area)
Telephone No. 421-0671 to 75. Fax No. 421-0871
FINANCIAL
CONDITION
(Audited Financial Statement for years 2013, 2012, &
2011, as compiled)
BALANCE
SHEET
|
ASSETS |
|||
|
Current Assets |
2013 |
2012 |
2011 |
|
Cash & Cash Equivalents |
9,127,702,285. |
2,304,249,477. |
1,252,484,278. |
|
Trade & Other Receivables, net |
2,825,090,139. |
2,109,838,302. |
2,402,599,070. |
|
Inventories |
3,424,836,953. |
3,189,665,937. |
1,593,268,260. |
|
Prepayments & Other Current Assets |
146,001,900. |
22,638,063. |
21,738,922. |
|
Total Current Assets |
15,523,631,277. |
7,626,391,779. |
5,270,090,530. |
|
Non-Current Assets |
|
|
|
|
Property, Plant and Equipment, net |
2,468,915,569. |
1,459,041,786. |
785,799,636. |
|
Investments in Subsidiaries |
404,945,715. |
404,945,715. |
4,945,715. |
|
Trademarks, net |
329,058,362. |
415,238,652. |
516,495,929. |
|
Deferred Tax Assets |
25,405,527. |
12,752,307. |
6,256,502. |
|
Other Non Current Assets |
226,022,709. |
141,127,437. |
84,401,456. |
|
Total Non-Current Assets |
3,454,347,882. |
2,433,105,897. |
1,397,899,238. |
|
Total Assets |
18,977,979,159.
vvvvvvvvvvvvvvvv
|
10,059,497,676. vvvvvvvvvvvvvvv
|
6,667,989,768. vvvvvvvvvvvvvvv
|
|
LIABLITIES AND EQUITY |
|||
|
Current Liabilities |
|
|
|
|
Trade & Other payables |
2,803,282,157. |
2,443,790,258. |
2,365,140,422. |
|
Subscription Payable |
1,875,000. |
1,875,000. |
1,875,000. |
|
Income Tax Payable |
522,416,845. |
430,094,461. |
324,748,196. |
|
Total Current Liabilities |
3,327,574,002. |
2,875,759,719. |
2,691,763,618. |
|
Non- Current Liabilities |
|
|
|
|
Retirement Benefits Obligation |
63,896,878. |
29,878,696. |
12,298,123. |
|
Total Liabilities |
3,393,470,880. |
2,905,638,415. |
2,704,061,741. |
|
Equity |
|
|
|
|
Capital Stock |
12,500,000,000. |
5,000,000,000. |
2,000,000,000. |
|
Additional Paid In Capital |
1,000,000,000. |
1,000,000,000. |
1,000,000,000. |
|
Revaluation Reserves |
( 28,229,464.) |
( 8,053,458.) |
NIL |
|
Retained Earnings |
2,112,737,743. |
1,161,912,719. |
963,928,027. |
|
Total Equity |
15,584,508,279. |
7,153,859,261. |
3,963,928,027. |
|
Total Liabilities and Equity |
18,977,979,159. vvvvvvvvvvvvvvvv |
10,059,497,676. vvvvvvvvvvvvvvvv |
6,667,989,027. vvvvvvvvvvvvvv |
INCOME
STATEMENT
|
|
2013 |
2012 |
2011 |
|
Sales of Goods |
28,606,991,751. |
22,786,033,578. |
16,994,657,222. |
|
Gross Profit |
8,859,595,727. |
8,062,676,210. |
4,444,543,713. |
|
Operating Expenses/Income |
|
|
|
|
Selling & Distribution Expenses |
( 2,074,671,725.) |
( 1,975,036,673.) |
( 1,496,761,737.) |
|
Administrative Expenses |
( 251,291,978.) |
( 157,202,961.) |
( 75,305,763.) |
|
Other Operating Income |
51,216,443. |
16,856,363. |
NIL_____ |
|
|
2,274,747,260. |
2,115,383,271. |
1,572,067,500. |
|
Operating Profit |
6,584,848,467. |
5,947,292,939. |
2,872,476,213. |
|
Other Income / (Charges) |
|
|
|
|
Finance Income |
59,758,036. |
55,355,066. |
27,830,586. |
|
Finance Cost |
( 7,841,391.) |
( 10,185,845.) |
( 5,189,283.) |
|
Gain (Loss) in disposal of Property, Plant & Equipment |
1,534,684. |
( 156,917.) |
NIL |
|
|
53,451,329. |
45,012,304. |
22,641,303. |
|
Profit Before Tax |
6,638,299,796. |
5,992,305,243. |
2,895,117,516. |
|
Net Profit |
4,652,959,075. |
4,197,502,572. |
|
|
Other Comprehensive Income / (Loss) |
|
|
|
|
Actuarial Loss in Retirement Benefit Obligation |
( 28,822,866.) |
( 5,646,782.) |
NIL |
|
Tax Income |
8,646,860. |
1,694,035. |
865,428,813 |
|
Total Comprehensive Income |
4,632,783,069. vvvvvvvvvvvvvvv |
4,193,579,825. vvvvvvvvvvvvvv |
2,029,668,703.
vvvvvvvvvvvvvv |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.61 |
|
|
1 |
Rs.92.95 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.