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MIRA INFORM REPORT
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Report No. : |
493258 |
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Report Date : |
21.02.2018 |
IDENTIFICATION DETAILS
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Name : |
POLYGAL SUD SA |
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Registered Office : |
Ruta 68. Km 69. Enlace De Tapihue S/N. Comuna De Casablanca, Region De Valparaiso |
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Country : |
Chile |
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Date of Incorporation : |
20.04.2007 |
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Legal Form : |
Stock Company |
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Line of Business : |
Manufacture, Import, Export, Commercialization and Distribution of
Polycarbonate, Plastics and Raw Material. |
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No. of Employees : |
50 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Chile |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 60% of total exports. Copper is Chile’s top export
and provides 20% of government revenue.
From 2003 through 2013, real growth averaged almost 5% per year, despite
a slight contraction in 2009 that resulted from the global financial crisis.
Growth slowed to an estimated 1.4% in 2017. A continued drop in copper prices
prompted Chile to experience its third consecutive year of slow growth.
Chile deepened its longstanding commitment to trade liberalization with
the signing of a free trade agreement with the US, effective 1 January 2004.
Chile has 22 trade agreements covering 60 countries including agreements with
the EU, Mercosur, China, India, South Korea, and Mexico. In May 2010, Chile
signed the OECD Convention, becoming the first South American country to join
the OECD. In October 2015, Chile signed 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 October 2016, those
sovereign wealth funds - kept mostly outside the country and separate from
Central Bank reserves - amounted to more than $23.5 billion. Chile used these
funds to finance fiscal stimulus packages during the 2009 economic downturn.
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.
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Source
: CIA |
CONFIDENTIAL
REPORT
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COMPANY NAME |
POLYGAL SUD SA |
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TRADE NAME |
POLYGAL SUD |
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TAX ID. TYPE |
RUT |
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TAX ID. NUMBER |
768336105 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Ruta 68. km 69. Enlace de
Tapihue s/n. Comuna de Casablanca |
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CITY/PROVINCE/STATE |
Region De Valparaiso |
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PHONE NUMBER(S) |
(55-32) 250.2700 |
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FAX |
(55-32) 280.2701 |
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EMAIL |
ventas@polygal.cl |
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REMARKS ON
IDENTIFICATION |
No website was found. This report was requested with address. Ruta 68 Kilometro 69 Enlace Tapihue Sn Casablanca Valparaiso. Be advised that
the correct address is indicated
above. |
CREDIT
OPINION
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Well-known company nationwide that seems to operate satisfactorily. It
holds a solid client portfolio and does not register detrimental records. |
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PAYMENT RECORDS |
No Complaints |
LEGAL
INFORMATION
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TYPE OF COMPANY |
Stock Company |
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INCORPORATION
DATE |
20.04.2007 |
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CITY OF
REGISTRATION |
Santiago |
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REGISTRY NUMBER |
Sheet 15,882, No. 11,771 |
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NOTARY |
Andres Rubio Flores (8th Notary) |
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TERM |
Unlimited |
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INITIAL CAPITAL |
US$ 300,000.00 Dollars |
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PAID UP CAPITAL |
US$ 300,000.00 Dollars |
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LAST CAPITAL
INCREASE |
No increase |
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LISTED AT STOCK EXCHANGE |
NO |
COMMENTS ON LEGAL
ASPECTS. –
The company is consideres as a large-sized company by the Internal
Revenue Service of Chile (SII).
The Internal Revenue Service of Chile (SII) includes the company in the
list of large taxpayers according to the SII Exemplary Resolution No. 100 dated
August 8th, 2011 due to the company’s income or sales being equal to
or greater than 360,000 UTM (Monthly Tax Unit) in all and each one of the last
three commercial years.
The company registers 10,000 shares without nominal value.
COMMENTS ON RELATED COMPANIES. –
The company is part of the PLAZIT POLYGAL Group.
RELATED
COMPANIES
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COMPANY NAME |
TAX ID. NUMBER |
COUNTRY |
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POLYGAL INC |
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USA |
BOARD
OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
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NAME |
JOB TITLE |
STAKE |
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MINGO, PATRICIO DE
VICENTE |
Legal Representative |
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QUINTEROS UGARTE, JORGE ANDRES |
General Manager |
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FERNANDEZ, JOSE IGNACIO |
Planning and Control Under Manager |
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MANRIQUEZ
PEREIRA, VICTOR ANDRES |
Manager |
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VICENTE
PLASTICOS SA |
Shareholder |
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POLYGAL
PLASTICS INDUTRIES LTD |
Shareholder |
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OPERATIONS
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SECTOR |
C- Industrial Manufacturing |
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ACTIVITY |
Manufacture of soft drinks |
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ISIC CATEGORY |
22- Manufacture of rubber and plastic products |
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ISIC CLASS |
2220- Manufacture of plastic products |
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MAIN ACTIVITY |
Manufacture, import, export, commercialization and distribution of
polycarbonate, plastics and raw material. |
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% SALES IN CASH |
20% |
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% SALES ON
CREDIT |
80% (terms at 15, 30, 60 and 90 days) |
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% TERRITORY OF
SALES |
Domestic and foreign market |
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N. OF EMPLOYEES |
50 (Approximately) |
LOCATION. –
TAX DOMICILE, ADMINISTRATIVE OFFICES, PRODUCTION
PLANT, WAREHOUSES: located at captioned address in an industrial and commercial
zone with easy access routes. Premise kept in good repair.
COMMENTS AS TO OPERATIONS. –
CORPORATE PURPOSE:
Manufacture and supply of plastic sheets.
Main competitors:
PLASTICOS ECOMOL LIMITADA
INYECTADOS LONQUIMAY LTDA
STYROPEK CHILE SPA
Main clients:
POLYGAL INC. (USA)
OREGON VALLEY GREENHOUSE (USA)
CARMEL GREENHOUSES (USA)
The company imports
polycarbonates: polyacetals, other polymers and epoxy resins, in primary forms.
Extruders, machines and devices for working with rubber or plastic or for
manufacturing products of these materials.
Office Hours:
Monday to Friday: 8:00 AM - 5:00 PM
Saturday: 8:00 AM - 5:00 PM
FOREIGN
TRADE
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IMPORTS |
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YEAR |
2017 |
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AMOUNT |
US$ 21,036,863.06 |
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COUNTRIES |
Belgium, USA, Israel, India, China, Italy, Germany |
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NUMBER OF
OPERATIONS |
215 |
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IMPORTS |
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YEAR |
2016 |
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AMOUNT |
US$$ 16,537,165.04 |
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COUNTRIES |
Belgium, USA, Israel, India, China, Italy, Germany |
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NUMBER OF
OPERATIONS |
197 |
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IMPORTS |
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YEAR |
2015 |
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AMOUNT |
US$$ 18,158,460.54 |
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COUNTRIES |
Belgium, USA, Israel, India, China, Italy, Germany |
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NUMBER OF
OPERATIONS |
194 |
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IMPORTS |
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YEAR |
2014 |
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AMOUNT |
US$$ 17,938,528.02 |
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COUNTRIES |
Belgium, USA, Israel, India, China, Italy, Germany |
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NUMBER OF
OPERATIONS |
210 |
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EXPORTS |
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YEAR |
2017 |
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AMOUNT |
US$ 22,206,469.78 |
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COUNTRIES |
Brazil, Colombia, Argentina, Bolivia, Peru, Ecuador,
USA |
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NUMBER OF
OPERATIONS |
514 |
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EXPORTS |
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YEAR |
2016 |
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AMOUNT |
US$ 19,138,144.09 |
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COUNTRIES |
Brazil, Colombia, Argentina, Bolivia, Peru, Ecuador,
USA |
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NUMBER OF OPERATIONS |
501 |
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EXPORTS |
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YEAR |
2015 |
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AMOUNT |
US$ 21,202,116.56 |
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COUNTRIES |
Brazil, Colombia, Argentina, Bolivia, Peru, Ecuador,
USA |
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NUMBER OF OPERATIONS |
443 |
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EXPORTS |
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YEAR |
2014 |
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AMOUNT |
US$ 21,738,765.18 |
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COUNTRIES |
Brazil, Colombia, Argentina, Bolivia, Peru, Ecuador,
USA |
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NUMBER OF OPERATIONS |
383 |
FINANCIAL
INFORMATION
We interviewed Ms. Victor Andres Manriquez (Manager) who provided
commercial and general information on the company, except for financial data
since they are confidential.
No financial figures were obtained through outside sources.
FINANCIAL COMMENTS. –
End of fiscal year: December 31st.
FIXED ASSETS. –
The company has
plant, buildings, cargo transportation vehicles, machines and extruders,
lifting equipment, forklifts, office equipment, furnishings, tools, among
others.
INSURANCE. –
It holds an insurance policy against all risk; however, neither the name
of the company nor the coverage amount nor the maturity date were specified.
PAYMENTS
REFERENCES
COMMENTS OF SUPPLIERS. –
The names of the suppliers
were not disclosed since they were considered as confidential for the business.
BANKS
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BANK NAME |
COUNTRY |
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BANCO DE CHILE SA |
Chile |
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BANCO BILBAO VIZCAYA
ARGENTARIA CHILE SA (BBVA CHILE SA) |
Chile |
BANK
REFERENCES
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.53 |
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1 |
INR 90.13 |
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Euro |
1 |
INR 79.85 |
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CLP |
1 |
INR 0.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.