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Report No. : |
345638 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MARZULLO S.A. |
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Registered Office : |
Avenida Presidente Eduardo Frei Montalva 3899, Conchalí Santiago |
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Country : |
Chile |
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Date of Incorporation : |
01.01.1993 |
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
Subject is
engages in the production and commercialization of color concentrates and
additives in thermoplastic resins to the packaging, dairy, and cosmetics
industries. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Chile |
A1 |
A1 |
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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 |
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high
level of foreign trade and a reputation for strong financial institutions and
sound policy that have given it the strongest sovereign bond rating in South
America. Exports of goods and services account for approximately one-third of
GDP, with commodities making up some three-quarters of total exports. Copper
alone provides 19% of government revenue. From 2003 through 2013, real growth
averaged almost 5% per year, despite the slight contraction in 2009 that
resulted from the global financial crisis. Growth slowed to 4.2% in 2014. Chile
deepened its longstanding commitment to trade liberalization with the signing
of a free trade agreement with the US, which took effect on 1 January 2004.
Chile has 22 trade agreements covering 60 countries including agreements with
the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has
joined the United States and 10 other countries in negotiating the
Trans-Pacific Partnership trade agreement. The Chilean Government has generally
followed a countercyclical fiscal policy, accumulating surpluses in sovereign
wealth funds during periods of high copper prices and economic growth, and
generally allowing deficit spending only during periods of low copper prices
and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly
outside the country and separate from Central Bank reserves - amounted to more
than $20.9 billion. Chile used these funds to finance fiscal stimulus packages
during the 2009 economic downturn. In May 2010 Chile signed the OECD
Convention, becoming the first South American country to join the OECD. In
2014, President Michelle BACHELET introduced tax reforms aimed at delivering
her campaign promise to fight inequality and to provide access to education and
health care. The reforms are expected to generate additional tax revenues equal
to 3% of Chile’s GDP, mostly by increasing corporate tax rates to OECD
averages.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
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Legal Name: |
MARZULLO S.A. |
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Trade Name: |
TOPCOLOR |
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RUT: |
89407400-0 |
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Date Created: |
1993 |
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Date Incorporated: |
01/01/1993 |
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Legal Address: |
Avenida Presidente Eduardo Frei Montalva 3899 |
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Operative Address: |
Avenida Presidente Eduardo Frei Montalva 3899 |
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Telephone: |
56 2 530 7600 |
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Fax: |
56 2 530 7690 |
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Legal Form: |
Sociedad Anónima |
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Email: |
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Registered in: |
Chile |
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Website: |
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Contact: |
Enzo Marcelo Marzullo García , General Manager |
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Staff: |
100 |
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Activity: |
Industrial Chemical Manufacturing Industry |
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BANKS |
Santander Río S.A. |
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The company does not disclose its banking details |
History
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The company was founded in 1993. |
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PRINCIPAL
ACTIVITY
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Marzullo S.A.
engages in the production and commercialization of color concentrates and additives
in thermoplastic resins to the packaging, dairy, and cosmetics industries. |
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Products/Services description: |
Concentrates of pigments in plastic resins |
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Brands: |
TOPCOLOR® |
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Sales are: |
Wholesale |
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Clients: |
MARIO HUMBERTO CARMONA COVARRUBIAS |
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Suppliers: |
DOMINION COLOUR CORP. |
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Operations area: |
National and International |
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The company imports from |
Canada, Mexico, Colombia |
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The company exports to |
Peru, Ecuador, Bolivia |
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The subject employs |
100 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
Avenida Presidente Eduardo Frei Montalva 3899 |
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Branches: |
The company does not have branches |
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Related Companies: |
There are no related comapanies |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. Major holder is Enzo Marcelo Marzullo
García. |
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Management: |
Enzo Marcelo Marzullo García , General Manager |
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FINANCIAL
INFORMATION
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|
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This is a private company which does not make its financial public. |
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USD 2014 |
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Revenue |
7 000 000 |
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LEGAL FILINGS
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There are no legal connected to the subject |
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SUMMARY |
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Marzullo SA is a Chilean company with turn pigment concentrates
(masterbatch) for the plastics industry. It began operations in April 1983, and has a large sized structure. The company operates at both national and international markets and
shows no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
This Corporation is in Good Standing |
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INTERVIEW |
|
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NAME |
Francisco |
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POSITION |
Administrative |
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COMMENTS |
He confirmed staff, address, activity, brands, clients and ID. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
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Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.