|
Report No. : |
321015 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROTAM AGROCHEMICAL COLOMBIA SAS |
|
|
|
|
Registered Office : |
Calle 90 N 19 C -74 Of 201, Edificio Blue Tower, Bogota |
|
|
|
|
Country : |
Colombia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.12.2001 |
|
|
|
|
Legal Form : |
Simplified Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of basic chemicals, rubbers and plastics in primary forms
and chemicals for farming |
|
|
|
|
No. of Employees : |
34 Approx. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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) |
|
Colombia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COLOMBIA - ECONOMIC 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%.
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY
NAME |
ROTAM
AGROCHEMICAL COLOMBIA SAS |
|
TRADE NAME |
ROTAM AGRO
COLOMBIA SAS |
|
TAX ID
TYPE |
NIT |
|
TAX ID
NUMBER |
830095754-3 |
|
CURRENT
STATUS |
Active |
|
MAIN
ADDRESS |
Calle 90 N
19c -74 Of 201, Edificio Blue Tower |
|
CITY/PROVINCE/STATE |
Bogota |
|
PHONE
NUMBER (S) |
(57-1)
635.6885 |
|
FAX NUMBER |
(57-1)
642.0674 |
|
E-MAIL |
contactco@rotam.com/contactco.reg@rotam.com |
|
WEB SITE |
www.rotam.com |
|
CR-RATING |
CR. D:
MIDDLE RISK |
|
PAYMENT
HISTORY |
EP. E:
WITHOUT CREDIT EXPERIENCE |
|
COMMENTS
OF IDENTIFICATION.- |
Another trade
name: ROTAM SAS This report was ordered with address "Calle 98 No 21-36
Of 501, Bogota", which corresponds to the previous tax domicile of
subject, where is now located the company TRICON GEOPHYSICS INC SUCURSAL
COLOMBIANA since November 2012 and it does not have any relation with
subject. Be advised that the correct and current address of subject is as
shown in caption. |
|
BOARD
OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
CANIZARES MOLINA,
ALVARO FRANCISCO ARTURO |
General
Manager/Legal Rep. |
|
|
COMMENTS
ON LEGAL ASPECTS. - |
|
It was not
possible to obtain directly from the subject the respective registry information.
According to the Registro Unico Empresarial y Social (RUES), subject has the
Commercial Registration No.0001143739, registered on 05/12/2001 . |
|
|
|
LEGAL
ASPECTS |
|
|
LEGAL
STATUS |
Simplified
Joint Stock Company |
|
INCORPORATION
DATE |
02/12/2001 |
|
REGISTERED
IN |
Bogota |
|
DURATION |
Unlimited |
|
NET WORTH |
Ps$-53,687,000.00
Pesos (as of 31/12/2013) |
|
TYPE OF
SHARES |
Registered
stock |
|
% CASH
SALES/PAYMENT METHOD |
40% |
|
IMPORTS |
|
|
YEAR |
2014 |
|
AMOUNT |
US$
6,850,218.57 |
|
COUNTRIES |
China,
India, Hong Kong |
|
YEAR |
2013 |
|
AMOUNT |
US$
695,316,283.00 |
|
COUNTRIES |
China,
India, Hong kong, Japan |
|
YEAR |
2012 |
|
AMOUNT |
US$
4,005,164.97 |
|
COUNTRIES |
China,
India |
|
EXPORTS |
|
|
YEAR |
2014 |
|
AMOUNT |
US$
54,375.23 |
|
COUNTRIES |
Belize,
Nicaragua, Barranquilla Free Zone |
|
YEAR |
2013 |
|
AMOUNT |
US$
802,244.37 |
|
COUNTRIES |
Barranquilla
Free Zone, Panama, Ecuador, Belize, Dominican Republic, Bolivia |
|
YEAR |
2012 |
|
AMOUNT |
US$
71,800.00 |
|
COUNTRIES |
Panama,
Ecuador |
|
RELATED
COMPANIES |
||
|
NAME |
TAX ID.
NUMBER |
COUNTRY |
|
ROTAM COSTA
RICA CRI SA |
|
COSTA RICA |
|
ROTAM
CROPSCIENCES LTD |
|
HONG KONG |
|
ROTAM DE
CHILE AGROQUIMICA LTD |
|
CHILE |
|
ROTAM
ECUADOR SA |
|
ECUADOR |
|
ROTAM
GLOBAL AGROSCIENCE LTDA |
|
TAIWAN |
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
The report
herein was elaborated through external sources since the main executives
declined to furnish information on the grounds of confidentiality. Though
external sources, we found the balance sheet as of 31/12/2013 and 31/12/2012
(12 months each), expressed in Colombian Pesos as follows: |
|
GENERAL
BALANCE SHEET |
|||
|
Balance
Date |
31/12/2013 |
31/12/2012 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange
Rate |
1,917.40 |
1,774.50 |
|
|
.Current
Total |
18,483,215,000.00 |
13,904,789,000.00 |
32.93 |
|
.Net Fixed |
466,589,000.00 |
214,153,000.00 |
117.88 |
|
.Total
Assets |
18,949,804,000.00 |
14,118,942,000.00 |
34.22 |
|
.Total
Current Liabilities |
18,709,241,000.00 |
12,715,745,000.00 |
47.13 |
|
.Long Term
Accounts |
249,250,000.00 |
|
|
|
Total
Liabilities |
18,958,491,000.00 |
12,715,745,000.00 |
49.09 |
|
Total
Equity |
-53,687,000.00 |
1,403,197,000.00 |
-103.83 |
|
Total
Liabilities and Equity |
18,904,804,000.00 |
14,118,942,000.00 |
33.90 |
|
PROFIT
AND LOSS ACCOUNT |
|||
|
Balance Date |
31/12/2013 |
31/12/2012 |
|
|
Currency |
Peso |
Peso |
|
|
Exchange
Rate |
1,917.40 |
1,774.50 |
|
|
Net Sales |
1,770,768,000.00 |
15,143,482,000.00 |
-88.31 |
|
Net
Income(Net Loss) |
-1,456,885,000.00 |
292,389,000.00 |
-598.27 |
|
RATIOS
FINANCIAL |
|||
|
PERIOD |
2,013.00 |
2,012.00 |
0.00 |
|
.NET
WORKING CAPITAL |
-226,026,000.00 |
1,189,044,000.00 |
-1.19 |
|
.LIQUIDITY
RATIO |
0.99 |
1.09 |
-0.09 |
|
.CONTENTS
OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
1.00 |
1.11 |
-0.10 |
|
.LIABILITIES,
CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL
ASSET TURNOVER |
0.09 |
1.07 |
-0.92 |
|
.RETURN ON
EQUITY |
0.00 |
0.00 |
|
|
.NET
RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL
COMMENTS.- |
|||
|
COUNTRY CONTEXT
- COLOMBIA: The below Country comments were obtained from a highly regarded
public source that issues economic comments on all of World` s countries.
Taxes: Colombian income tax: 38.5% on the net profit-business:. Tax
agreements with the Andean Community and Spain which allow residents in this
countries to have a special tax treatment. Alphabetic currency code for every
country, established by the International Organization for Standardization
(ISO) 4217: Colombian Peso (COP) Main economic indicators: External debt:
US$85.83 billion (31 December 2013 est.) International reserves: US$43.74
billion (31 December 2013 est.) Inflation rate : 2.2% (2013 est.) GDP growth
rate: 4.2% (2013 est.) Annual GDP per capita: US$11,100 (2013 est.) GDP -
composition, by sector of origin: agriculture: 6.6% industry: 37.8% services:
55.6% (2013 est.) Labour force of 23.08 million people (2013 est.) divided
by: agriculture: 17% industry: 21% services: 62% Unemployment rate: 9.7%
(2013 est.) Productive sectors: Agriculture - products: coffee, cut flowers,
bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables;
shrimp; forest products Industries: textiles, food processing, oil, clothing
and footwear, beverages, chemicals, cement; gold, coal, emeralds Foreign
trade: Exports: $58.7 billion (2013 est.) country comparison to the world: 56
$59.85 billion (2012 est.) Exports - commodities: petroleum, coal, emeralds,
coffee, nickel, cut flowers, bananas, apparel Exports - partners: US 36.6%,
China 5.5%, Spain 4.8%, Panama 4.7%, Venezuela 4.4%, Netherlands 4.1%
Imports: $53.5 billion (2013 est.) country comparison to the world: 54 $54.64
billion (2012 est.) Imports - commodities: industrial equipment,
transportation equipment, consumer goods, chemicals, paper products, fuels,
electricity Imports - partners: US 24.2%, China 16.3%, Mexico 10.9%, Brazil
4.8% Country risks: Commercial Country Risk: MEDIUM Political Country Risk:
LOW |
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INSURANCE.- |
|||
|
Not found. |
|||
|
CREDIT
FILES |
|||
|
Possible local
suppliers do not furnish information per consider confidential. |
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|
RATE OF
EXCHANGE |
US$1.00 =
Ps$2,373.16 as of report date |
|
LISTED AT
STOCK EXCHANGE |
NO |
|
OPERATIONS |
|
|
SECTOR |
2.-TRADE
(WHOLESALE) |
|
ACTIVITY |
CHEMICAL
INPUTS |
|
ISIC
CATEGORY |
G-WHOLESALE
AND/OR RETAIL SALE |
|
MAIN
ACTIVITY |
Wholesale
of basic chemicals, rubbers and plastics in primary forms and chemicals for
farming. |
|
% CREDIT
SALES/TERMS |
60% terms at
30 days |
|
TERRITORY
OF SALES |
95%
(domestic market) |
|
% FOREIGN
SALES |
5% |
|
N. OF
EMPLOYEES |
34 approx. |
|
LOCATION |
|
TAX
DOMICILE, MAIN OFFICES: Located at captioned address. Premises in good repair
of easy access. |
|
COMMENTS
OF OPERATIONS.- |
|
It
operates 100% directly. The charges for services are by monthly valuation
according to the project or work carried out. Main cliens are telephone
companies. |
|
LOCAL
SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
NAVENAL
LTDA |
|
|
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
ROTAM
AGROCHEMICAL CO LTD |
|
|
TAIWAN |
|
JIANGSU
ROTAM CHEMISTRY CO LTD |
|
|
CHINA |
|
BANKERS
/ REFERENCE |
||||
|
Bank Name |
Account
Number |
Account
Officer |
Telephone |
Country |
|
BANCO DE
BOGOTA SA |
|
|
|
COLOMBIA |
|
BANCOLOMBIA
SA |
|
|
|
COLOMBIA |
|
BANK
COMENTS |
||||
|
Consulted
banks do not provide any information regarding clients on the grounds of
confidentiality. |
||||
|
CENTRAL
RISK |
||||
|
The subject
does not report lawsuits and protested documents against it. |
||||
|
CREDIT
OPINION |
||||
|
It
registers capital losses and negative operating profit for 2013 period. Hence
we recommend to take into account the respective banking documents for any operation
to deal with this company. |
||||
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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.