|
Report No. : |
343267 |
|
Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SG COMERCIO EXTERIOR SA |
|
|
|
|
Registered Office : |
Rua Alvarenga Peixoto, 295 3º Andar, Sala 302 Bairro De Lourdes ,
30180-120 - Belo Horizonte/Mg |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.05.1981 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Import, Export and Sale of Iron and Steel Products. |
|
|
|
|
No. of Employees : |
Not Available |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BRAZIL - ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural,
mining, manufacturing, and service sectors, and a rapidly expanding middle
class, Brazil's economy outweighs that of all other South American countries,
and Brazil is expanding its presence in world markets. Since 2003, Brazil has
steadily improved its macroeconomic stability, building up foreign reserves,
and reducing its debt profile by shifting its debt burden toward real
denominated and domestically held instruments. Since 2008, Brazil became a net
external creditor and all three of the major ratings agencies awarded
investment grade status to its debt. After strong growth in 2007 and 2008, the
onset of the global financial crisis hit Brazil in 2008. Brazil experienced two
quarters of recession, as global demand for Brazil's commodity-based exports
dwindled and external credit dried up. However, Brazil was one of the first
emerging markets to begin a recovery. In 2010, consumer and investor confidence
revived and GDP growth reached 7.5%, the highest growth rate in the past 25
years. After reaching historic lows of 4.5% in early 2014, the unemployment
rate remains low, but is rising. Brazil's traditionally high level of income
inequality has declined for each of the last 15 years. GDP growth has slowed
since 2011, due to several factors, including: overdependence on exports of raw
commodities, low productivity, high operational costs, persistently high
inflation, and low levels of investment. Brazil’s fiscal and current account
balances have eroded during the past four years as the government attempted to
boost economic growth through targeted tax cuts for industry and incentives to
spur household consumption. After winning re-election in October 2014 by a
historically narrow margin, President Dilma ROUSSEFF appointed a new economic
team led by Finance Minister Joaquim LEVY, who introduced a fiscal austerity
package intended to restore the primary account surplus to 1.2% of GDP and
preserve the country’s investment-grade sovereign credit rating. Brazil seeks
to strengthen its workforce and its economy over the long run by imposing local
content and technology transfer requirements on foreign businesses, by
investing in education through social programs such as Bolsa Familia and the
Brazil Science Mobility Program, and by investing in research in the areas of
space, nanotechnology, healthcare, and energy.
|
Source
: CIA |
SG COMERCIO EXTERIOR SA
ADDRESSES:
|
|
MAIN ADDRESS: |
RUA ALVARENGA PEIXOTO, 295 3º ANDAR, SALA 302 BAIRRO DE LOURDES |
|
ZIP CODE/CITY: |
30180-120 - BELO HORIZONTE/MG |
|
|
|
|
PHONE: |
31 2122-6700 |
|
FAX: |
31 2122-6702 |
|
E-MAIL: |
jba@sgcomex.com.br |
|
WEB SITE: |
www.sgcomex.com.br |
|
BRANCHES: |
|
NOT AVAILABLE. |
LEGAL
DATA:
|
|
MAIN ACTIVITIES: |
|
IMPORT, EXPORT AND SALE OF IRON AND STEEL PRODUCTS. |
|
LEGAL FORM: |
PRIVATELY HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
18/05/1981 |
|
REGISTER DATE: |
18/05/1981 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
16.766.164/0001-64 |
|
STATE REGISTER: |
062310394.00-75 |
|
|
|
|
SHARE CAPITAL: |
R$ 4.461.981,03 |
|
LAST REGISTER OF CAPITAL: |
30/11/2009 |
|
BOARD OF DIRECTORS: |
|
|
|
|
|
MANOEL FERREIRA GUIMARĂES NETO |
PRESIDENT DIRECTOR |
|
LEONARDO DE ARAUJO ALMEIDA |
COMMERCIAL DIRECTOR |
|
RAFAELLA ROCHA GONCALVES |
DIRECTOR |
AUTHORIZED
USE OF SIGNATURE:
|
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS / PARTNERS: |
|
|
|
|
|
LUIZ CARLOS GONÇALVES |
33,33% |
|
LEONARDO DE ARAUJO ALMEIDA |
33,33% |
|
MANOEL FERREIRA GUIMARĂES NETO |
33,33% |
|
AFFILIATES / SUBSIDIARIES: |
|
|
|
|
|
A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS
HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS: |
|
|
|
|
|
SG OVERSEAS LIMITED |
|
|
MFGN PARTICIPAÇƠES LTDA |
|
|
BERITH EMPREENDIMENTOS IMOBILIÁRIOS LTDA |
|
COMPANY'S
BACKGROUND:
|
|
THE SUBJECT WAS ESTABLISHED ON MAY 18, 1981 AS SG SILVEIRA E GUIMARĂES
LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON AUGUST 20, 1985 IT
ADOPTED THE ABOVE-MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN
THE GENERAL SCENE REPORTED HEREIN. TRADE NAME: SG DIRECTORS: MANOEL FERREIRA GUIMARĂES NETO: BRAZILIAN, MARRIED, ENTREPRENEUR,
HOLDER OF DOCUMENTS CPF 000.795.616-91 AND RG 370.915 SSP/MG, RESIDENTIAL
ADDRESS AT AV.DR OTACILIO NEGRAO DE LIMA 260, ZIP CODE 31365-450, SĂO LUIZ,
BELO HORIZONTE/MG. LEONARDO DE ARAUJO ALMEIDA: BRAZILIAN, MARRIED, ENTREPRENEUR, HOLDER
OF DOCUMENTS CPF 599.629.256-49 AND RG M-2.102.242.915 SSP/MG, RESIDENTIAL
ADDRESS AT RUA FAUSTO NUNES VIEIRA 120, APTO 1802, ZIP CODE 30320-590,
BELVEDERE, BELO HORIZONTE/MG. FURTHER DETAILS ARE SO FAR NOT KNOWN. WHEN CONTACTING THE SUBJECT WE INTERVIEWED MR. JAIME, ADMINISTRATIVE
DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION
UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF
THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER
INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
PUBLIC
INFORMATION:
|
|
NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL
INFORMATION:
|
|
GENERAL BALANCE SHEETS AS OF 31/12/2014, 31/12/2013 AND 31/12/2012. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
CASH AND BANKS |
17 |
11 |
444 |
|
INVESTMENTS |
245 |
6.809 |
1.915 |
|
CLIENTS |
8.549 |
5.090 |
9.933 |
|
INVENTORY |
9.697 |
5.881 |
4.756 |
|
ADVANCE TO SUPPLIERS |
441 |
1.071 |
7.385 |
|
RECOVERABLE TAXES |
463 |
788 |
751 |
|
OTHER CREDITS |
93 |
38 |
33 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
19.505 |
19.688 |
25.217 |
|
LONG-TERM RECEIVABLES: |
|
|
|
|
|
|
|
|
|
JUDICIAL DEPOSITS |
3.645 |
3.645 |
3.661 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
3.645 |
3.645 |
3.661 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
128 |
18 |
33 |
|
INTANGIBLE |
6 |
6 |
9 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
134 |
24 |
42 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
23.284 |
23.357 |
28.920 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
SUPPLIERS |
8.721 |
2.365 |
7.571 |
|
LOANS AND FINANCING |
4.416 |
12.794 |
10.766 |
|
TRIBUTARY OBLIGATIONS |
649 |
75 |
91 |
|
DIVIDENDS |
|
7 |
5 |
|
ADVANCE FROM EXPORTS |
|
|
2.630 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
13.786 |
15.241 |
21.063 |
|
LONG TERM LIABILITIES: |
|
|
|
|
|
|
|
|
|
PROVISION FOR CONTINGENCIES |
3.253 |
3.253 |
3.253 |
|
CREDIT FOR CAPITAL INCREASE |
|
140 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
3.253 |
3.393 |
3.253 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
4.462 |
4.462 |
4.462 |
|
PROFIT RESERVES |
1.783 |
261 |
142 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
6.245 |
4.723 |
4.604 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
23.284 |
23.357 |
28.920 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2014, 31/12/2013 AND 31/12/2012. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
NET SALES |
261.827 |
68.244 |
43.310 |
|
(-) COST OF SOLD GOODS |
248.410 |
63.656 |
39.135 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
13.417 |
4.588 |
4.175 |
|
OPERATING REVENUE (EXPENSE) |
-6.535 |
-5.304 |
-4.263 |
|
FINANCIAL REVENUE(EXPENSE) |
-3.660 |
859 |
194 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
3.222 |
143 |
106 |
|
CONTRIBUTION/INCOME TAX |
-901 |
-22 |
-6 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
2.321 |
121 |
100 |
|
RATIOS: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
QUICK RATIO |
,71 |
|
,91 |
|
,97 |
|
|
CURRENT RATIO |
1,41 |
|
1,29 |
|
1,20 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
30,63 |
TIMES |
13,41 |
TIMES |
4,36 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
11,75 |
DAYS |
26,85 |
DAYS |
82,56 |
DAYS |
|
INVENTORY TURNOVER |
25,62 |
TIMES |
10,82 |
TIMES |
8,23 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
12,64 |
DAYS |
13,38 |
DAYS |
69,65 |
DAYS |
|
RETURN ON ASSETS |
11,24 |
TIMES |
2,92 |
TIMES |
1,50 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
41,93 |
TIMES |
14,45 |
TIMES |
9,41 |
TIMES |
|
NET WORTH TIE-UP |
,02 |
|
,00 |
|
,01 |
|
|
INDEBTEDNESS |
2,73 |
|
3,95 |
|
5,28 |
|
|
EQUITY RATIO |
26,82 |
% |
20,22 |
% |
15,92 |
% |
|
WORKING CAPITAL RATIO |
41,48 |
% |
29,18 |
% |
19,72 |
% |
|
GENERAL SOLVENCY |
1,37 |
|
1,25 |
|
1,19 |
|
|
RETURN ON NET EQUITY |
37,17 |
% |
2,56 |
% |
2,17 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
,89 |
% |
,18 |
% |
,23 |
% |
|
GROSS PROFIT MARGIN |
5,12 |
% |
6,72 |
% |
9,64 |
% |
|
OPERATIONAL RESULT |
1,23 |
% |
,21 |
% |
,24 |
% |
|
SALES TURNOVER ON LIABILITIES |
18,99 |
TIMES |
4,48 |
TIMES |
2,06 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 3,97 |
- OFFICIAL RATE ON 30/09/2015 |
|
US$ 1,00 = R$ 2,65 |
- OFFICIAL RATE ON 30/12/2014 |
|
US$ 1,00 = R$ 2,34 |
- OFFICIAL RATE ON 31/12/2013 |
|
US$ 1,00 = R$ 2,04 |
- OFFICIAL RATE ON 31/12/2012 |
|
COMMENTS ON THE FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE ANNUAL FIGURES AVAILABLE SHOW A SATISFACTORY FINANCIAL STANDING.
DESPITE THE HIGH LEVEL OF INDEBTEDNESS, IT IS NOTED GOOD CURRENT RATIO AND
POSITIVE WORKING CAPITAL, CONSIDERED SUFFICIENT TO COVER THE SHORT TERM
DEBTS. IT ALSO SHOWS SHARP SALES GROWTH AND POSITIVE RESULT. |
|
REAL ESTATE: |
NOT AVAILABLE
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$
129.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS
ARE VALUED AT R$ 67.000,00
INSURANCE:
|
|
ON DECEMBER 31, 2014 THE COMPANY HAD INSURANCE COVERAGE FOR ITS
HEADQUARTERS CONSIDERED SUFFICIENT TO COVER POSSIBLE LOSSES AND RISKS. |
BANKING
REFERENCES:
|
|
|
BRANCH/PHONE: |
|
|
BANCO SANTANDER (BRASIL) S/A |
31 3274-7649 |
|
|
BANCO BRADESCO S/A |
31 3217-5060 |
|
|
BANCO DO BRASIL S/A |
313248-7930 |
|
|
REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION
OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE
ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
ACTIVITIES
COMMENTS:
|
|
IMPORT, EXPORT AND SALE OF IRON AND STEEL PRODUCTS. |
|
IMPORT AND EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
ARGENTINA AND UNITED STATES. |
|
FOREIGN CLIENTS: |
COUNTRY: |
|
|
ACINDAR S/A |
ARGENTINA |
|
|
GERDAU AMERISTELL PERTH AMBOY |
UNITED STATES |
|
|
SIMS GROUP GLOBAL TRADE CORPORATION |
UNITED STATES |
|
|
THE DAVID JOSEPH COMPANY |
UNITED STATES |
|
|
STAFF: |
|
|
|
NOT AVAILABLE |
CONCEPT
AND FULFILMENT:
|
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1981. SO
FAR IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEM IS NOTED. LITTLE OR NOTHING IS LOCALLY KNOWN OF SUBJECT AS A USER OF CREDIT FACILITIES,
SINCE SUBJECT MAIN SUPPLIERS ARE SAID TO BE THE FOREIGN COMPANIES. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC SUPPLIERS: |
CITY: |
PHONE: |
|
GRUPO ITAMINAS |
BELO HORIZONTE/MG |
31 3269-2910 |
|
MINAS METAIS EXPORTADORA S/A |
BETIM/MG |
31 3594-3059 |
|
PAYMENT HISTORY: |
|
NO PAYMENT RECORD IS REGISTERED. |
FINAL
OPINION:
|
|
BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS
AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
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.