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Report No. : |
341376 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
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Name : |
FARMINCO S.A. |
|
|
|
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Registered Office : |
Ituzaingo al Sur-Predio P15, Manzana 8.
Zona Franca Florida |
|
|
|
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Country : |
Uruguay |
|
|
|
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Date of Incorporation : |
21.03.2013 |
|
|
|
|
Legal Form : |
Sociedad Anónimas Emisoras de Acciones al
Portador |
|
|
|
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Line of Business : |
Subject is an International Business
Company incorporated in Uruguay for tax purposes. |
|
|
|
|
No. of Employee : |
Not Available |
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 : |
International Business Company |
|
Payment Behaviour : |
Unknown |
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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) |
|
Uruguay |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
URUGUAY ECONOMIC OVERVIEW
Uruguay has a free market economy characterized by an
export-oriented agricultural sector, a well-educated work force, and high
levels of social spending. Following financial difficulties in the late 1990s
and early 2000s, Uruguay's economic growth averaged 8% annually during the
period 2004-08. The 2008-09 global financial crisis put a brake on Uruguay's
vigorous growth, which decelerated to 2.6% in 2009. Nevertheless, the country
managed to avoid a recession and keep positive growth rates, mainly through higher
public expenditure and investment; GDP growth reached 8.9% in 2010 but slowed
in 2012-13 as a result of a renewed slowdown in the global economy and in
Uruguay's main trade partners and Common Market of the South (Mercosur)
counterparts, Argentina and Brazil. Uruguay has sought to expand trade within
Mercosur and with non-Mercosur members, and President VAZQUEZ has said he will
maintain his predecessor’s mix of pro-market policies and a strong social
safety net.
|
Source
: CIA |
|
Order: |
FARMINCO S.A. |
|
Address in the order: |
Ituzaingo al Sur-Predio P15, Manzana 8.
Zona Franca Florida, URUGUAY |
|
Legal Name: |
FARMINCO S.A. |
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Trade Name: |
FARMINCO |
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RUT: |
212853350015 |
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Date Created: |
2013 |
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Date Incorporated: |
21/03/2013 |
|
Legal Address: |
Ituzaingo al Sur-Predio P15, Manzana 8.
Zona Franca Florida, URUGUAY |
|
Operative Address: |
Ituzaingo al Sur-Predio P15, Manzana 8.
Zona Franca Florida, URUGUAY |
|
Telephone: |
598 2 4027913 (not working) |
|
Fax: |
NA |
|
Legal Form: |
Sociedad Anónimas Emisoras de Acciones al
Portador |
|
Email: |
|
|
Registered in: |
Uruguay |
|
Website: |
NA |
|
Contact: |
Joaquin Carvallido Braga |
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Staff: |
0 |
|
Activity: |
International Business Company (IBC) |
|
|
|
|
BANKS |
Banco Central del Uruguay |
|
|
The company does not disclose its banking
data |
PRINCIPAL ACTIVITY
FARMINCO
S.A. is an International Business
Company incorporated in Uruguay for tax purposes.
The company uses the registrant address but does not carry any operation in the
country.
It is not registered in Uruguay as being a local business company.
It is not listed with the Uruguay commercial pages.
|
Products/Services description: |
The company is involved in the wholesale of
cosmetic products. |
|
Brands: |
NA |
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Sales are: |
NA |
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Clients: |
NA |
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Suppliers: |
NA |
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Operations area: |
NA |
|
The company imports from |
CHINA |
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The company exports to |
NA |
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The subject employs |
0 |
|
Payments: |
NA |
|
Headquarters : |
The company uses this address to operate
within the country. |
|
Branches: |
NA |
|
Related Companies: |
NA |
|
Listed at the stock exchange: |
NO |
|
Shareholders: |
We could not confirm major holders. |
|
Management: |
Estudio Etchegaray Albanell & Asociados Colonia 922 Piso 1 Tel: 903 1011 Fax 900 1927 E-mail: pea@estudioetchegaray.com.uy Montevideo - Uruguay |
|
The company does not disclose its
financial figures. |
|
There are no legal connected to the
subject |
This is an International Business Company
which does not belong to a company located in Uruguay.
It is registered in the country for tax purposes and does not operate within
the country. It is managed by a resident registration agent.
|
DEBTS |
Controlled |
|
PAYMENTS |
Unknown |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
NAME |
AccountNet |
|
POSITION |
Accountants |
|
COMMENTS |
The person contacted confirmed the agents in
charge of the company’s transactions. They refused to provide further
information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.95 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.