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Report No. : |
348773 |
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Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
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Name : |
CONSTRUCTORA CON AQUIA S.A. |
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Registered Office : |
Calle 02 local Galpón Nro. 20, Zona
Industrial Acarigua, Estado Portuguesa |
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Country : |
Venezuela |
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Date of Incorporation : |
08.07.2005 |
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Legal Form : |
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Line of Business : |
Subject is provide constructions services |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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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Venezuela |
C2 |
C2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
VENEZUELA - ECONOMIC OVERVIEW
Venezuela remains highly dependent on oil revenues, which account for roughly 96% of export earnings, about 40% of government revenues, and 11% of GDP. The country ended 2014 with an estimated 4% contraction in its GDP, 68.4% inflation, widespread shortages of consumer goods, and declining central bank international reserves. The International Monetary Fund forecasts that the GDP will shrink another 7% in 2015 and inflation may reach 80%. Under President Nicolas MADURO, the Venezuelan government’s response to the economic crisis has been to increase state control over the economy and blame the private sector for the shortages. The Venezuelan government has maintained strict currency controls since 2003. Currently, three official currency exchange mechanisms are in place for the sale of dollars to private sector firms and individuals, with rates based on the government's import priorities. These currency controls present significant obstacles to trade with Venezuela because importers cannot obtain sufficient dollars to purchase goods needed to maintain their operations. MADURO has used decree powers to enact legislation to deepen the state’s role as the primary buyer and marketer of imports, further tighten currency controls, cap business profits, and extend price controls. Falling oil prices since 2014 have aggravated Venezuela’s economic crisis. Insufficient access to dollars, price controls, and rigid labor regulations have led some US and multinational firms to reduce or shut down their Venezuelan operations. High costs for oil production and state oil company PDVSA’s poor cash flow have slowed investment in the petroleum sector, resulting in a decline in oil production.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
CONSTRUCTORA CON AQUIA S.A. |
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Trade Name: |
CONAQUIA |
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RIF: |
J- 31388559-2 |
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Date Created: |
2005 |
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Date Incorporated: |
08/07/2005 |
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Legal Address: |
Calle 02 local Galpón Nro. 20, Zona Industrial
Acarigua, Estado Portuguesa - República Bolivariana de Venezuela. |
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Operative Address: |
Calle 02 local Galpón Nro. 20, Zona
Industrial Acarigua, Estado Portuguesa - República Bolivariana de Venezuela. |
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Telephone: |
58 (255) 664.3509. |
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Fax: |
58 (255) 664.3509. |
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Legal Form: |
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Email: |
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Registered in: |
Venezuela |
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Website: |
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Contact: |
Jesus Rafael Flores Urdaneta |
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Staff: |
3 |
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Activity: |
Constructions Services |
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BANKS
Banco Central de Venezuela The company
does not make its banking data public |
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History
The company was founded in 2005. |
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PRINCIPAL ACTIVITY
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The company's
main objective professional advice on industrial projects and construction, may
also serve as an intermediary in the purchase and sale, import and export of
materials and equipment for construction and other legitimate commercial
activity that relates so directly or indirectly with the company. |
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Products/Services description: |
Components & Fabrication, Structures,
Works and Constructions |
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Brands: |
CON AQUIA |
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Sales are: |
Wholeslae |
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Clients: |
Commercial |
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Suppliers: |
NA |
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Operations area: |
National |
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The company imports from |
No imports |
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The company exports to |
No exports |
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The subject employs |
3 employees |
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Payments: |
Slow but correct |
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LOCATION
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Headquarters : |
Calle 02 local Galpón Nro. 20, Zona
Industrial Acarigua, Estado Portuguesa - República Bolivariana de Venezuela. |
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Branches: |
The company does not have branches |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
BsF. 200,000,000.00 |
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Shareholders: |
The company's
shareholders are: |
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Management: |
Jesus Rafael
Flores Urdaneta |
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FINANCIAL INFORMATION
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This is a
private company which does not make its financials public. |
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There are no
financial records connected to the subject. |
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LEGAL FILINGS
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ENABLED to contract with the state to 4000 UT on Goods and
Services / UT in 5000 Works in accordance with Articles 47 and 49 paragraph
1, or be framed in any of paragraphs Exclusion mode referred to in Article 5
of the LCP |
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RISK INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow but correct |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
NA |
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POSITION |
NA |
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COMMENTS |
We contacted company’s secretary who
refused to confirm information on the subject. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
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|
1 |
Rs.100.55 |
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Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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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.