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MIRA INFORM REPORT
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Report No. : |
484585 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BUSINESS PEOPLE UNLIMITED & CIA S.C.A. |
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Registered Office : |
Autopista Medellin Km 1.5 Via Siberia
Costado Sur Parque Industrial La Florida B Cota Cundinamarca |
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Country : |
Colombia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
14.02.1995 |
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Legal Form : |
Company in command by shares |
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Line of Business : |
The company is professionally engaged in
commerce of equipment and various household appliances and home furniture, in
specialized stores. |
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No. of Employees : |
25 |
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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Maximum Credit Limit : |
USD 80 000 |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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Colombia |
A2 |
A2 |
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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 |
COLOMBIA - ECONOMIC OVERVIEW
Colombia’s economy benefits from free trade and sound fiscal policies but it has slowed in 2016 because of falling global oil prices, a strong dollar, and moderate inflation. Colombia heavily depends on energy and mining exports, making it vulnerable to a drop in commodity prices. Colombia is the world's fourth largest coal exporter, the world’s second largest coffee and cut flowers exporter, and Latin America’s fourth largest oil producer. Economic development is hampered by inadequate infrastructure, poverty, narcotrafficking, and an uncertain security situation.
Although real GDP growth averaged 4.7% for the past decade, growth fell to 2.0% in 2016. The El Nino weather pattern in early 2016 and a 40-day truckers strike caused food and energy prices to rise, with inflation spiking to a high of nearly 9% in July 2016. Declining oil prices have reduced government revenues. Colombia received about $1 billion in oil revenue in 2016, compared with $6 billion in 2014; oil accounts for 20% of government revenues. President Juan Manuel SANTOS signed into law a tax reform bill in December 2016 aimed at offsetting lost revenue from the drop in oil prices by decreasing corporate taxes to incentivize investment and by increasing the value added tax. The enactment of the tax reform bill was key to maintaining Colombia’s BBB investment-grade credit rating. Foreign investment has been hampered by Colombia’s struggle to address its fiscal problems. As of September 2016, FDI in Colombia had risen to $10.2 billion, up from $9.3 billion over the same period in 2015.
Colombia has signed or is negotiating Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia FTA went into force in May 2012. The US and Colombia have benefitted from the FTA, but Colombia’s ability to take full advantage of its enhanced access to American markets continues to be constrained by lack of export diversification. Non-tariff measures remain a point of contention for bilateral trade relations. The Colombian government acted in 2016 to address several bilateral trade irritants with the US, including truck scrappage, distilled spirits, pharmaceuticals, ethanol imports, and labor rights. US and industry stakeholders are still evaluating the implementation of recent reforms. Colombia is a founding member of the Pacific Alliance - a regional trade block formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade and economic integration. In 2013, Colombia began its accession process to the Organization for Economic Cooperation and Development.
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Source : CIA |
STATUTORY INFORMATION
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Legal Name: |
BUSINESS PEOPLE UNLIMITED & CIA S.C.A. |
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Trade Name: |
HOME GALLERY |
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NIT: |
830000844
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Date Created: |
1995 |
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Date Incorporated: |
1995 02 14 |
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Legal Address: |
AUTOPISTA MEDELLIN KM 1.5 VIA SIBERIA
COSTADO SUR PARQUE INDUSTRIAL LA FLORIDA B COTA CUNDINAMARCA |
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Operative Address: |
Autopista Medellin Km 1.5 Via Siberia
Costado Sur Parque Industrial la Florida Bodega 22 Bogota 250017 Colombia |
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Telephone: |
578.966.092 |
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Fax: |
578.966.092 |
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Legal Form: |
Company in command by shares |
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Email: |
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Registered in: |
COLOMBIA |
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Website: |
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Contact: |
Marcos Aristizábal, General Manager |
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Staff: |
25 |
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Industry: |
Household Appliances Wholesale
Industry |
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BANKS
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BANCOLOMBIA |
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The company does not disclose its banking
details |
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HISTORY
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The company was established in 1995 |
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PRINCIPAL ACTIVITY
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The company is professionally engaged in
commerce of equipment and various household appliances and home furniture, in
specialized stores. |
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Products/Services description: |
Glassware |
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Brands: |
Clipper Mill |
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Sales are: |
Wholesale and
Retail |
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Clients: |
CERVECERIA LA
RANA DORADA SA |
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Suppliers: |
LIBBEY MEXICO S
DE RL DE CV |
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Operations area: |
National and
International |
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The company imports from |
Sri Lanka, USA,
Mexico |
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The company exports to |
Ecuador, Panama |
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The subject employs |
25 employees |
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Payments: |
No complaints |
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Partners: |
Diageo |
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LOCATION
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Headquarters : |
Autopista
Medellin Km 1.5 Via Siberia Costado Sur Parque Industrial la Florida Bodega
22 Bogota 250017 Colombia |
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Branches: |
The company does
not have branches |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NA |
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Capital: |
COP 1 000 000 |
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Shareholders: |
This is a
private company. Major holder would be: Hernando De Jesus
Aristizabal |
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Management: |
HERNANDO DE
JESUS ARISTIZABAL SALAZAR MAISSIE
JARAMILLO DE ARISTIZABAL: REPRESENTATIVE LEGAL MARTIN DIAZ:
FISCAL REVIEWER MARTIN DIAZ:
SUPPLIER FISCAL REVIEWER HERNANDO DE JESUS
ARISTIZABAL SALAZAR: MAIN BOARD OF DIRECTORS MAISSIE
JARAMILLO DE ARISTIZABAL: MAIN BOARD OF DIRECTORS MARKOS
ARISTIZABAL JARAMILLO: MAIN BOARD OF DIRECTORS ARISTIZABAL
JARAMILLO NATALIA: MAIN BOARD OF DIRECTORS SIGUENZA
JARAMILLO DIANA: MAIN BOARD OF DIRECTORS |
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FINANCIAL INFORMATION
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The company does
not public its financial statements. We attach latest company’s FS2016. |
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Foreign trade
in the last 5 years: Imports: Shipments:428 US$: 1,969,597 Exports: Shipments:2 US$: 3,518 |
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LEGAL FILINGS
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There are no legal available for the
subject |
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SUMMARY
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This is an importing company specializing in
manning table (Vajillas- Cutlery - Glassware), Kitchen (Accessories and
utensils) and Bar products. The company has
21 years of experience in the market with a small sized structure. It mainly
imports from Asia and operates nationally and internationally. The company
shows positive profitability without 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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SUGGESTED CREDIT LINE |
USD 80 000 |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
Edwin |
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POSITION |
Assistant |
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COMMENTS |
The person contacted confirmed name,
management, NIT, experience and activity. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.34 |
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1 |
INR 85.89 |
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Euro |
1 |
INR 76.15 |
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COP |
1 |
INR 0.022 |
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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PRA |
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Report Prepared
by : |
SYL |
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
·
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.