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MIRA INFORM REPORT
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Report No. : |
495987 |
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Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ORICA CHILE SA |
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Registered Office : |
Costanera Sur 2730, Piso 3 Las Condes, Santiago |
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Country : |
Chile |
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Date of Incorporation : |
11.01.1984 |
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Legal Form : |
Stock Company |
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Line of Business : |
The company is engaged in the manufacture and trade of explosives. |
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No. of Employees : |
1150 |
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 : |
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 (30.09.2017) |
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 |
ORICA CHILE SA |
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TAX ID. TYPE |
RUT |
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TAX ID. NUMBER |
95.467.000-7 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Costanera Sur 2730, Piso 3 Las Condes |
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CITY/PROVINCE/STATE |
Santiago |
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PHONE NUMBER(S) |
(56-2) 2715.3800 |
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EMAIL |
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WEBSITE |
www.orica.com
(corporate website) |
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REMARKS OF
IDENTIFICATION |
This report was requested with address: Av. Costanera Sur 2730 Piso 3
Las Condes. Please notice that the correct data is shown above. |
CREDIT
OPINION
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Company with a foreign capital and deemed to be operating normally. |
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PAYMENT RECORDS |
Regular |
LEGAL
INFORMATION
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TYPE OF COMPANY |
Stock Company |
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INCORPORATION
DATE |
11/01/1984 |
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CITY OF
REGISTRATION |
Santiago |
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REGISTRY NUMBER |
Pages 999 No. 556 |
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NOTARY |
Andres Rubio Flores |
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TERM |
Indefinite |
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CURRENT CAPITAL |
Ps$ 44,292,191,613.00 Pesos |
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DATE OF INCREASE |
16/06/2016 |
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LISTED AT STOCK
EXCHANGE |
No |
BACKGROUND.-
Initially it was established as EXPLOSIVOS MEJILLONES SA. Later on
24/08/1988, it changed its name to EXPLOSIVOS MEJILLONES SA, A J.C.J. CHILE SA.
Finally, on 20/05/1998, it changed its name from ICE EXPLOSIVES SA to ORICA
CHILE SA.
LEGAL ASPECTS.-
The company was established with an initial capital of PS$ 300,000.00
Pesos.
COMMENTS ON
RELATED COMPANIES.-
The company is part ORICA LIMITADA. Australian company that operates in
the mining, chemical and industrial sectors in 50 countries around the world.
It is based at 1 Nicholson Street Melbourne Victoria 3002 Australia. Phone:
(61-3) 9665.7111. ORICA LIMITED, is divided into four platforms: Orica Mining
Services, Minova, Orica Chemicals and DeluxGroup, each of them leaders in their
respective line of business and enjoy a worldwide reputation.
RELATED
COMPANIES
|
COMPANY NAME |
TAX ID. NUMBER |
COUNTRY |
|
ORICA ARGENTINA SAIC |
30-68624174-9 |
ARGENTINA |
|
ORICA BRASIL LTDA |
31.056.708/0001-98
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BRAZIL |
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ORICA CHEMICALS ARGENTINA SA |
30-71028284-2 |
ARGENTINA |
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ORICA CHEMICALS CHILE SA |
96959480-3 |
CHILE |
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ORICA CHEMICALS COLOMBIA SAS |
900161367-2 |
COLOMBIA |
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ORICA CHEMICALS PERU SAC |
20260733916 |
PERU |
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ORICA CHILE DISTRIBUTION SA |
92493000-4 |
CHILE |
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ORICA CHILE SA |
95467000-7 |
CHILE |
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ORICA COLOMBIA SA |
830033462 |
COLOMBIA |
BOARD
OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
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NAME |
JOB TITLE |
STAKE |
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PINTO FERNANDEZ, SEBASTIAN |
President |
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SANCHEZ VIVERO, RODRIGO |
Director / Finance Vice Presidency |
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CONTADOR DIAZ, CHRISTIAN |
General Manager |
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HIRMAS BORMANN, JORGE |
Board Member |
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SORIA AGUILAR, JOSE ELIGIO |
Human Resources Manager |
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MANDUJANO DEVOTO, RODRIGO |
Finance Manager |
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DATA
OF BOARD OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
RODRIGO SANCHEZ VIVERO
Chilean, C.I. 11.957.560-5
CHRISTIAN CONTADOR DIAZ
Chilean, C.I. 8.559.123-1
JOSE ELIGIO SORIA AGUILAR:
Foreigner, C.I.E. 23.364.353-5
RODRIGO MANDUJANO DEVOTO
Chilean, C.I. 8.455.399-9
OPERATIONS
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SECTOR |
G- Wholesale and Retail; Repair of Motor Vehicles and Motorcycles |
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ACTIVITY |
Trade of explosives. |
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ISIC CATEGORY |
46- Wholesale Trade, Except for Vehicles and Motorcycles |
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ISIC CLASS |
4669- Wholesale of Waste, Scrap and Other N.C.P Products |
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MAIN ACTIVITY |
The company is engaged in the manufacture and trade of explosives. |
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% SALES IN CASH |
30% |
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% SALES ON
CREDIT |
70% (terms at 30-60 days) |
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% TERRITORY OF
SALES |
domestic and foreign market |
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N. OF EMPLOYEES |
1150 |
LOCATION.-
ADMINISTRATIVE and CORPORATE OFFICES: Located at caption address in a
commercial zone of the city with easy access.
Other premises:
PLANT
Camino Mejillones KM. 18 Antofagasta
COMMENTS AS TO
OPERATIONS.-
The company has certifications:
ISO 14000: 1996
ISO 9001: 2000
ISO 9001: 2008
ISO 14001: 2004
FOREIGN
TRADE
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IMPORTS |
|
YEAR |
2017 |
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AMOUNT |
US$36,830,226.45 |
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COUNTRIES |
Canada, Russia, Brazil, China, USA, Australia, Sweden, Germany, Peru,
Mexico |
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NUMBER OF OPERATIONS |
300 |
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IMPORTS |
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YEAR |
2016 |
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AMOUNT |
US$32,571,847.84 |
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COUNTRIES |
Canada, Russia, Brazil, China, USA, Australia, Sweden, Germany, Peru |
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NUMBER OF OPERATIONS |
287 |
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IMPORTS |
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YEAR |
2015 |
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AMOUNT |
US$61,437,068.32 |
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COUNTRIES |
Canada, Russia, Brazil, China, USA, Australia, Sweden, Germany, Peru,
Mexico |
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NUMBER OF OPERATIONS |
396 |
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IMPORTS |
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YEAR |
2014 |
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AMOUNT |
US$71,521,281.64 |
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COUNTRIES |
Canada, Russia, Brazil, China, USA, Australia, Sweden, Germany, Peru,
Mexico |
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NUMBER OF OPERATIONS |
418 |
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EXPORTS |
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YEAR |
2017 |
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AMOUNT |
US$29,473,848.38 |
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COUNTRIES |
Peru, Australia, Colombia, Mexico, Argentina, Canada, Venezuela,
Brazil, Bolivia |
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NUMBER OF OPERATIONS |
255 |
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EXPORTS |
|
YEAR |
2016 |
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AMOUNT |
US$28,444,345.43 |
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COUNTRIES |
Peru, Australia, Colombia, Mexico, Argentina, Canada, Venezuela, Brazil |
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NUMBER OF OPERATIONS |
306 |
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EXPORTS |
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YEAR |
2015 |
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AMOUNT |
US$39,901,359.77 |
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COUNTRIES |
Peru, Australia, Colombia, Mexico, Argentina, Canada, Venezuela,
Brazil |
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NUMBER OF OPERATIONS |
364 |
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EXPORTS |
|
YEAR |
2014 |
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AMOUNT |
US$36,276,725.59 |
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COUNTRIES |
Peru, Australia, Colombia, Mexico, Argentina, Canada, Venezuela,
Brazil, Bolivia |
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NUMBER OF OPERATIONS |
341 |
FINANCIAL
INFORMATION
We had an interview with Ms. Paula Cornejo (Secretary of the Finance Vice Presidency) who provided partial
information of the company except for financials on grounds of confidentiality.
No financials were found through external sources.
FIXED ASSETS.-
The company owns:
Office furniture
Computer equipment
INSURANCE.-
The company holds an insurance policy with CHILENA CONSOLIDADA SEGUROS
GENERALES SA.
PAYMENTS
REFERENCES
COMMENTS OF
SUPPLIERS.-
Domestic suppliers consulted do not provide commercial information regarding
clients on grounds of confidentiality.
BANKS
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Bank Name |
Country |
Phone Number |
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BANCO BICE SA |
Chile |
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BANCO DE CHILE SA |
Chile |
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BANCO SANTANDER SANTIAGO SA |
Chile |
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BANK
REFERENCES
Consulted Banks do not provide information of its clients on grounds of
confidentiality.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.99 |
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|
1 |
INR 89.91 |
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Euro |
1 |
INR 80.21 |
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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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NIY |
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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.