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MIRA INFORM REPORT
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Report No. : |
485309 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
CHEEK SA |
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Registered Office : |
Esmeralda 1320 Piso:1
Dpto: A, 1007-Ciudad Autonoma Buenos Aires |
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Country : |
Argentina |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
18.04.1994 |
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Legal Form : |
Anonymous Society |
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Line of Business : |
The
company is dedicated to manufacture and sale of clothing for babies and
children |
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No. of Employees : |
950 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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Argentina |
B2 |
B2 |
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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 |
ARGENTINA - ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. In 2016, the World Bank downgraded Argentina from a high-income to upper-middle-income economy, on par with Columbia.
A severe depression, growing public and external indebtedness, and an unprecedented bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines below the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in 2007, with understating inflation data.
Cristina FERNANDEZ DE KIRCHNER succeeded her husband as president in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy in 2010 rebounded strongly from the 2009 recession, but slowed in late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which kept inflation in the double digits.
In order to deal with these problems, the government expanded state intervention in the economy: it nationalized the oil company YPF from Spain's Repsol, expanded measures to restrict imports, and further tightened currency controls in an effort to bolster foreign reserves and stem capital flight. Between 2011 and 2013, Central Bank foreign reserves dropped $21.3 billion from a high of $52.7 billion. In July 2014, Argentina and China agreed on an $11 billion currency swap; the Argentine Central Bank has received the equivalent of $3.2 billion in Chinese yuan, which it counts as international reserves.
With the election of President Mauricio MACRI in November 2015, Argentina began a historic political and economic transformation, as his administration took steps to liberalize the Argentine economy, lifting capital controls, floating the peso, removing export controls on some commodities, cutting some energy subsidies, and reforming the country’s official statistics. Argentina negotiated debt payments with holdout bond creditors and returned to international capital markets in April 2016. In September 2016, Argentina completed its first IMF Article IV Consultation since 2006.
After years of international isolation, Argentina has taken on several international leadership roles in 2017, including hosting the World Economic Forum on Latin America and the World Trade Organization Ministerial Conference, and is set to assume the presidency of the G-20 in 2018.
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Source : CIA |
STATUTORY
INFORMATION
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Legal Name: |
CHEEK SA |
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Trade Name: |
Cheeky |
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CUIT: |
30-67729108-3 |
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Date Created: |
1994 |
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Date Incorporated: |
18/04/1994 |
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Legal Address: |
ESMERALDA 1320
Piso:1 Dpto: A 1007-CIUDAD AUTONOMA
BUENOS AIRES |
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Operative Address: |
Cuyo 3040, C.P. 1640 Buenos Aires |
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Telephone: |
(011) 4717-8600 |
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Fax: |
(011) 4717-8686 |
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Legal Form: |
Anonymous Society |
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Email: |
NA |
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Registered in: |
BUENOS AIRES |
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Website: |
www.cheeky.com.ar |
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Contact: |
FELDMAN MARIA
ESTELA |
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Staff: |
950 |
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Activity: |
Main ISIC activity 1410 - Manufacture of clothing, except of
leather garments Main activity AFIP 141130 - Manufacture of clothing for babies
and children |
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BANKS
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According to
Argentinian Central Bank, the company maintains credit lines with the
following banks: |
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BANK |
AMOUNT IN AR$ |
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BANCO DE LA NACION ARGENTINA |
80407 |
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BANCO DE GALICIA Y BUENOS AIRES S.A. |
63812 |
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BANCO SANTANDER RIO S.A. |
48618 |
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HSBC BANK ARGENTINA S.A. |
43649 |
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BANCO DE LA CIUDAD DE BUENOS AIRES |
38325 |
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BANCO PATAGONIA S.A. |
30064 |
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BBVA BANCO FRANCES S.A. |
26056 |
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BANCO COMAFI SOCIEDAD ANONIMA |
25286 |
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BANCO DE LA PROVINCIA DE BUENOS AIRES |
20801 |
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BANCO ITAU ARGENTINA S.A. |
20447 |
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BANCO SUPERVIELLE S.A. |
18941 |
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BANCO DE SERVICIOS Y TRANSACCIONES S.A. |
12955 |
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BANCO MACRO S.A. |
11092 |
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INDUSTRIAL AND COMMERCIAL BANK OF CHINA |
9383 |
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BANCO INDUSTRIAL |
8440 |
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BANCO DE LA PAMPA S.E.M. |
1957 |
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F.F. COMAFI LEASING PYMES IX |
594 |
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According to the
classification of banking relations of Argentina, the company operates with
level: 1. This is the highest
classification in the system. It means that the company/person is fulfilling correctly
its current Credit obligations. There are no
rejected checks for the subject. |
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POSITIVE CHECKS-AR$ *March 2018 939,426.28 *February 2018 821,415.49 *January 2018 2,220,057.52 *December 2017 1,507,681.14 *November 2017 2,186,768.09 *October 2017 1,913,229.93 *September 2017 536,902.73 *August 2017 936,281.62 *July 2017 1,884,880.26 *June 2017 2,132,728.50 *May 2017 903,813.75 *April 2017 957,668.73 *March 2017 1,484,222.46 *February 2017 1,020,763.76 *January 2017 1,727,450.32 *December 2016 1,752,613.57 *November 2016 2,233,124.26 *October 2016 3,140,176.01 *September 2016 1,930,246.71 *August 2016 3,577,927.18 *July 2016 7,446,347.13 *June 2016 10,257,897.29 *May 2016 15,688,645.15 *April 2016 2,114,423.31 *March 2016 3,144,312.11 *February 2016 1,831,400.07 *January 2016 1,725,183.15 |
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HISTORY
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The company was founded in 1994 |
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PRINCIPAL
ACTIVITY
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The company is dedicated to manufacture and
sale of clothing for babies and children |
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Products/Services description: |
clothing for babies and children |
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Brands: |
CHEEKY COMO QUIERES QUE TE QUIERA MUCHO BB CHEEKY CHEEKY BABY CHEEKY BOY CHEEKY GIRL CHK CHK - CHEEKY COFFEE BAR FLY SPORTS |
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Sales are: |
Retail |
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Clients: |
General clients |
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Suppliers: |
Cheer Sagar Exports India |
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Operations area: |
National |
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The company imports from |
No import found |
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The company exports to |
Guatemala France |
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The subject employs |
950 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
Cuyo 3040, C.P. 1640 Buenos Aires |
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Branches: |
The Company has
more than 50 stores in Argentina Alternative
addresses *Matheu 256
Floor Pb - Dto L256 - Federal Capital Tel .: (11) 4953-7450 *Av Rivadavia 5096
- Capital Federal Tel .: (11) 4904-1020 / (11) 4902-5680 / (11) 4902-4799 *Av Corrientes
3247 - Capital Federal Tel .: (11) 4865-7113 / (11) 4861-4968 *Posadas 1245 -
Dto Loc - Capital Federal Tel .: (11) 4815-2915 *Av Santa Fe 1499
Piso Pb - Capital Federal Tel .: (11) 4814-2594 / (11) 4813-1875 *Av F D L Cruz
Gral 4602 Floor Pb - Dto Locl - Capital Federal Tel .: (11) 4605-5104 / (11)
4604-1267 *Florida 261 -
Federal Capital Tel .: (11) 4328-9737 *San Martin
2473 Floor Pb - Loc Dto - Mar Del Plata - Buenos Aires Tel .: (223) 496-1485
/ (223) 492-0009 *Cno de Cintura
- Mńor R Bufano 6050 - Tablada - Buenos Aires Tel .: (11) 4699-6374 / (11)
4699-6366 *Av Rivadavia
18229 - Moron - Buenos Aires Tel .: (11) 4627-0864 / (11) 4483-5418 |
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Related Companies: |
NA |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
The
Share Capital is established in the amount of PESOS TWO MILLION ONE HUNDRED THOUSAND
($ 2,100,000.-) represented by ONE HUNDRED TWENTY (120) ordinary
non-endorsable nominative shares, of PESOS SEVENTEEN THOUSAND FIVE HUNDRED ($
17,500.-) face value each. The
origin of the contribution arises from results of previous years not allocated
for an amount of $ 2,073,432, and capital adjustment for an amount of $
14,568, which arise from the financial statements of the year N 18 closed at
30/9/ 16. |
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Shareholders: |
50% LUIS ARGAŃARAZ SELLINGER 50% SCHVASTZMAN ELIANA |
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Management: |
President:
FELDMAN MARIA ESTELA D.N.I. 13650914 Address:
Necochea 895, Resistencia, Chaco Marital status Married Date of birth: 11/07/1959 Argentina Nationality Vice President: RICA JULIA ABECASIS DE
FELDMAN D.N.I. 6602603 address: Frondizi 636, Resistencia, Chaco Marital status: widow date, birth: 07/26/1924 Argentina Nationality. Director: SAIDMAN MATIAS ADOLFO D.N.I. 37262819 Address:
Necochea 895, Resistencia, Chaco Marital status: single, date of birth:
01/20/1994 Argentine nationality. Alternate Director: COCERES GERMAN MARCELO D.N.I. 34300888 address: Missionary Klein 449, Resistencia,
Chaco Marital status: single Date of birth: 11/01/1990 Argentine nationality |
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FINANCIAL
INFORMATION
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This is a private company
which does not make its financial figures public. We attach latest
company’s FS2016. |
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Exports |
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2017 |
15,815 |
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2016 |
127,946 |
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2015 |
286,526 |
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2014 |
466,795 |
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2013 |
635,061 |
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2012 |
288,773 |
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LEGAL
FILINGS
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Cases |
No records found |
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SUMMARY
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CHEEKY is an Argentine clothing brand for
children from 0 to 12 years old. Its proposal includes footwear, accessories
and cosmetics. Its strong expansion with only 20 years in
the market, made the brand a leader in the children's segment; with more than
180 stores in Buenos Aires, inland and America. The company export to Guatemala and France,
with no import records found. It is active in BUENOS AIRES, with no
negative records. |
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RISK
INFORMATION
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Total indebtedness financial system: $
460,827,000 Total monthly financial system commitments:
$ 20,083,648 Current situation of the BCRA Debtors
Central: 1 In normal situation Total consultations in Nosis: Last 3
months: 78 | Last 12 months: 374 Registers partial payment of employer
contributions as employer within the last 24 months Last contract Superintendence of Work Risks
with current affiliation, insurer LA SEGUNDA |
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Verónica |
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POSITION |
Administrative |
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COMMENTS |
The person contacted confirmed address, CUIT,
experience, shareholders, capital, staff and stores. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.76 |
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1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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ARS |
1 |
INR 63.93 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.