MIRA INFORM REPORT

 

 

Report No. :

349084

Report Date :

19.11.2015

 

IDENTIFICATION DETAILS

 

Name :

CLAROTEX  GUATEMALA  SA

 

 

Registered Office :

Kilometro  44.5  De  La  Carretera  Al  Pacifico  Z.0  Bodega  Uno  Palin,  Escuintla

 

 

Country :

Guatemala

 

 

Date of Incorporation :

01.01.2014

 

 

Com. Reg. No.:

85440248

 

 

Legal Form :

Sociedad  Anonima

 

 

Line of Business :

Subject is engaged in finishing  of  textiles

 

 

No. of Employee :

120

 

 

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 :

Unknown

 

 

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)

Guatemala

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GUATEMALA - ECONOMIC OVERVIEW

 

Guatemala is the most populous country in Central America with a GDP per capita roughly one-half that of the average for Latin America and the Caribbean. The agricultural sector accounts for 13.7% of GDP and 32% of the labor force; key agricultural exports include sugar, coffee, bananas, and vegetables. The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and since then Guatemala has pursued important reforms and macroeconomic stabilization. The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) entered into force in July 2006, spurring increased investment and diversification of exports, with the largest increases in ethanol and non-traditional agricultural exports. While CAFTA-DR has helped improve the investment climate, concerns over security, the lack of skilled workers, and poor infrastructure continue to hamper foreign direct investment. The distribution of income remains highly unequal with the richest 20% of the population accounting for more than 51% of Guatemala's overall consumption. More than half of the population is below the national poverty line, and 13% of the population lives in extreme poverty. Poverty among indigenous groups, which make up more than 40% of the population, averages 73%, with 22% of the indigenous population living in extreme poverty. Nearly one-half of Guatemala's children under age five are chronically malnourished, one of the highest malnutrition rates in the world. Guatemala is the top remittance recipient in Central America as a result of Guatemala's large expatriate community in the United States. These inflows are a primary source of foreign income, equivalent to one-half of the country's exports or one-tenth of its GDP. In November 2014 along with his counterparts from El Salvador and Honduras, President PEREZ MOLINA announced the “Plan of the Alliance for Prosperity in the Northern Triangle.” This plan seeks to address the challenges facing the three Northern Triangle countries, including steps the governments will take to stimulate economic growth, increase transparency and fiscal responsibility, reduce violence, modernize the justice system, improve infrastructure, and promote educational opportunities over the next several years.

 

Source : CIA

 

Company name

 

CLAROTEX  GUATEMALA  SA                                    

 

 

Company  Summary

 

Business  Name

CLAROTEX  GUATEMALA  SA

Country

GUATEMALA

Company  Registration  Number

85440248

Main  Activity  Code

1330

Main  Activity  Description

Finishing  of  textiles

Company  Status

(Active)

Latest  Turnover  Figure

-

Latest  Shareholder  Equity  Figure

-

 

 

Basic  Information

 

Business  Name

CLAROTEX  GUATEMALA  SA

Registered  Company  Name

CLAROTEX  GUATEMALA  SA

Company  Registration  Number

85440248

Country

GUATEMALA

VAT  Registration  Number

 

VAT  Registration  Date

 

Date  of  Company  Registration

 

Date  of  Starting  Operations

2014-01-01

Commercial  Court

 

Legal  Form

Sociedad  Anonima

Type  of  Ownership

 

Company  Status

(Active)

Principal  Activity  Code

 

Principal  Activity  Description

 

Contact  Telephone  Number

+502  7828  0000;  +502  2317  8803;  +502  4072  3833

 

 

Main  Address

 

Address

Country

Telephone

Kilometro  44.5  de  la  Carretera  al  Pacifico  Z.0  Bodega  Uno  Palin,  Escuintla

GUATEMALA

+502  7828  0000;  +502  2317  8803;

+502  4072  3833

 

 

OTHER  ADDRESS

 

Address

Country

Telephone

No  other  addresses  for  this  company.

 

 

PREVIOUS  ADDRESS

 

Address

Country

No  previous  addresses  for  this  company.

 

 

ACTIVITIES

 

Activity  Code

Activity  Description

1330

Finishing  of  textiles

 

 

Email  Addresses

 

clarotexguatemala@gmail.com davidcho@youngst.com

 

 

WEB  PAGES

 

N.A.

 

 

Employee  Information

 

Date  Reported

Number  of  Employees

2015

120

 

 

Banker  Information

 

Banker  Name

Banker  Address

Phone  Number

Banco  Industrial

 

 

 

 

 

Advisors  Information

 

Auditor  Name

Solicitor  Name

 

No  advisor  information  for  this  company.

 

 

 

 

Miscellaneous  Information

 

Fax  Number

+502  7828  3899

Export  Countries

United  States

Import  Countries

 

Additional  Business  Information

The  company  was  created  in  2014.

Additional  Rating  Information

Local  credit  bureau  gave  a  Low  credit  rate.  The  company  is  in  Good  Standing.  This  means  that  all  local  and

 

federal  taxes  were  paid  on  due  date.

Additional  Payment  Information

Regular

Additional  Financial  Information

As a private company the subject does not publish any financial statements. We have attempted to contact

the company but could not reach anyone who could provide us any financial data. Comments on the

financial data: It was not possible to obtain financial data for this subject.

Number  of  Employees  at  Address

120

Number  of  Employees  at  Group

 

Number  of  Employees  at  Factory

 

 

 

Additional  Miscellaneous  Information

 

Banks  (Comments)

This  information  was  not  verified  by  the  company.

Principal  Activity

It  is  engaged  in  the  production  of  textile  products.

Products/Services  Description

Products:  Knit  Fabric  Dyeing  &  Finishing;  Capacity:  40,400kg/day  (Polyester  24,650kg,  Cotton  15,750kg)

Sales

Wholesale

Clients

Professionals  of  industry.  Major  customers  include:  Old  Navy,  Quiksilver,  Tommy  Hilfiger,  Kohls,  Polo,  KMart,

 

Dickies,  VF

Suppliers

It  was  not  possible  to  obtain  the  name  of  any  suppliers  for  this  subject.

Operations  Area

National,  International

Trade  References

It  was  not  possible  to  obtain  trade  references  for  this  subject.

Comments  on  Staff

This  information  was  not  verified  by  the  company.

Comments  on  location

This  information  was  not  verified  by  the  company.

Branches

We  could  not  locate  any  company  branches.

Listed  at  the  stock  exchange

NO

Shareholders  Parent  Company(ies)

This  is  a  private  company.  The  company's  main  shareholders  are  members  of  the  Kim  family.

Final  Opinion

This is a medium sized Guatemalan company that has been in operations since 2014. The company

manufactures and sells textile products. The company exports abroad and works with well-known clients,

so it can reach a larger market reach than its size would imply. The company has no web presence, so it

must rely on traditional means of marketing to expand its client base. Because of this, gaining new clients

would be a slow process. There were no legal fillings found against the company. Because we could not

verify the information we found we would suggest requesting guarantees before a credit line is

considered.

Comments

We attempted contacting the company several times but were only able to reach a voicemail. Unfortunately,

the voicemail was not working properly and would not let us leave a message. We emailed the information

request and are awaiting a reply.

 

 

Financial  Information

 

No  financial  information  for  this  company.

 

 

Current  Directors

 

Name

Gender

Address

Date  of

Position

 

 

 

Birth

 

Jung  Young  Kim

Unknown

 

 

President

Seong  Jae

Unknown

 

 

General  Manager

 

 

 

 

Legal  representative

David  Cho

Unknown

 

 

Sales  Manager

Hun  Woo  Ko

Unknown

 

 

Factory  Manager

Dong  Joo  Lee

Unknown

 

 

QC  Manager

Young  Cheol  Kim

Unknown

 

 

Maintenance

Hee  Jong  Ko

Unknown

 

 

Dyeing

Sang  Tae  Kim

Unknown

 

 

Finishing

Byung  Ki  Park

Unknown

 

 

Laboratory

 

Previous  Directors

 

Name

Gender

Address

Date  of  Birth

Position

Resignation  Date

No  previous  directors  for  this  company.

 

 

SHARE  CAPITAL  STRUCTURE

 

Nominal  Share  Capital

Issued  Share  Capital

 

 

Shareholders

 

Shareholder

Address

% Shares  Held

Kim  family

 

 

GROUP  STRUCTURE

 

No  group  structure  information  for  this  company

 

 

NEGATIVE  INFORMATION

 

The  sources  consulted  record  no  detrimental  legal  or  labor  court  information.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.11

UK Pound

1

Rs.100.51

Euro

1

Rs.70.39

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.