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MIRA INFORM REPORT
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Report No. : |
487202 |
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Report Date : |
20.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TINDU DE MEXICO SA DE CV |
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Registered Office : |
Calle 40 Sur #3 CIVAC Jiutepec, Morelos |
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Country : |
México |
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Date of Incorporation : |
1989 |
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Legal Form : |
Sociedad Anónima De Capital
Variable |
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Line of Business : |
Subject is dedicated to the manufacture and
wholesale of hardware tools. |
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No. of Employees : |
34 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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México |
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 |
MEXICO - ECONOMIC OVERVIEW
Mexico's $2.2 trillion economy has become increasingly oriented toward manufacturing since the North American Free Trade Agreement (NAFTA) entered into force in 1994. Per capita income is roughly one-third that of the US; income distribution remains highly unequal.
Mexico has become the US' second-largest export market and third-largest source of imports. In 2016, two-way trade in goods and services exceeded $579 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of trade under free trade agreements. In 2012, Mexico formed the Pacific Alliance with Peru, Colombia, and Chile.
Mexico's current government, led by President Enrique PENA NIETO, has emphasized economic reforms, passing and implementing sweeping energy, financial, fiscal, and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Mexico began holding public auctions of exploration and development rights to select oil and gas resources in 2015 as a part of reforms that allow for private investment in the oil, gas, and electricity sectors. Mexico held its fourth auction in December 2016 and allocated 8 of 10 deepwater fields, demonstrating Mexico’s capacity to attract investment amid low oil prices. The government allocateed additional fields in 2017.
Since 2013, Mexico’s economic growth has averaged 2% annually, falling short of private-sector expectations that President PENA NIETO’s sweeping reforms would bolster economic prospects. Growth is predicted to remain below potential given falling oil production, weak oil prices, structural issues such as low productivity, high inequality, a large informal sector employing over half of the workforce, weak rule of law, and corruption. Over the medium-term, the economy is vulnerable to global economic pressures, such as lower external demand, rising interest rates, and low oil prices - approximately 10% of government revenue comes from the state-owned oil company, PEMEX.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
TINDU DE MEXICO SA DE CV |
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Trade Name: |
TINDU DE MEXICO / SOLDADURA TINDU DE MEXICO |
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RFC: |
TME951228UW9 |
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Date Created: |
1989 |
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Date Incorporated: |
1989 |
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Legal Address: |
Calle 40 Sur #3 CIVAC
Jiutepec, Morelos México |
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Operative Address: |
Calle 40 Sur #3 CIVAC
Jiutepec, Morelos México |
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Telephone: |
777 309 0697 |
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Fax: |
777 309 0698 |
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Legal Form: |
SOCIEDAD ANÓNIMA DE CAPITAL
VARIABLE |
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Email: |
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Registered in: |
Mexico |
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Website: |
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Contact: |
Rodolfo Luna Fajes,
Financial Manager |
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Staff: |
34 |
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Activity: |
NAICS 1: Jewelry and
Silverware Manufacturing SIC 1: Stainless Steel
Ware |
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Banks
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BANAMEX |
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The company does not make
its banking data public |
History
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This is a Mexican company
that started operations in 1989 with the name of Trefilados y Laminados de
Morelos. |
PRINCIPAL ACTIVITY
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The company is dedicated
to the manufacture and wholesale of hardware tools. |
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Products/Services
description: |
Wires: |
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Brands: |
GIMAX |
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Sales are: |
Wholesale |
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Clients: |
•Textile industry |
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INGENIERIA Y FILTRACION LIMITADA |
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Suppliers: |
JLC Electromet Pvt. Ltd. India Viraj Profiles Limited India |
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Operations area: |
National and
International |
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The company imports from |
India |
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The company exports to |
Colombia, USA |
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The subject employs |
34 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
Calle 40 Sur #3 CIVAC
Jiutepec, Morelos México |
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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: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private
company. Major holder is: Vicente Rodolfo Velázquez
Girón |
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Management: |
Vicente Rodolfo Velázquez Girón,
General Manager Rodolfo Luna Fajes,
Financial Manager |
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FINANCIAL INFORMATION
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The
company does not make its financial statements public. The
following information has been provided by private sources: |
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USD 2016 |
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Revenue |
3 342 077 |
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Total Equity |
Normal |
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Foreign
trade in the last 5 years: Imports: Shipments:
83 US
$: 3,159,827 Exports: Shipments:
2 US
$: 19,321 |
LEGAL FILINGS
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There are no legal
connected to the subject |
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SUMMARY
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The company is dedicated
to the manufacture and wholesale of hardware tools. It has 26 years of
experience in the market with a small-medium sized structure. The company mainly imports
from India and operates within Latin American region. It is active in business,
with positive profitability and no negative records. |
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 |
Active |
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INTERVIEW
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NAME |
Areli Huerta |
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POSITION |
Administrative |
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COMMENTS |
She confirmed RFC, staff
number and management. She refused to provide any further details. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.72 |
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1 |
INR 88.64 |
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Euro |
1 |
INR 78.14 |
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MXN |
1 |
INR3.43 |
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 : |
POJ |
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.