MIRA INFORM REPORT

 

 

Report No. :

496769

Report Date :

13.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BASESURCORP S.A.

 

 

Registered Office :

Via Duran Boliche Km. 3.5, 3-K, Solar 15, Eloy Alfaro, Durán, Guayas

 

 

Country :

Ecuador

 

 

Financials (as on) :

2016

 

 

Date of Incorporation :

14.07.1995

 

 

Legal Form :

Anonymous Society

 

 

Line of Business :

The company is engaged in the import, marketing, promotion, distribution and sale locally or abroad of all types of agricultural products, food, fruits, spices, cereals and vegetables.

 

 

No. of Employees :

118

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Ecuador

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

ECUADOR - ECONOMIC OVERVIEW

 

Ecuador is substantially dependent on its petroleum resources, which have accounted for more than half of the country's export earnings and approximately 25% of public sector revenues in recent years.

In 1999/2000, Ecuador's economy suffered from a banking crisis, with GDP contracting by 5.3% and poverty increasing significantly. In March 2000, the Congress approved a series of structural reforms that also provided for the adoption of the US dollar as legal tender. Dollarization stabilized the economy, and positive growth returned in the years that followed, helped by high oil prices, remittances, and increased non-traditional exports. The economy grew an average of 4.3% per year from 2002 to 2006, the highest five-year average in 25 years. After moderate growth in 2007, the economy reached a growth rate of 6.4% in 2008, buoyed by high global petroleum prices and increased public sector investment. President Rafael CORREA Delgado, who took office in January 2007, defaulted in December 2008 on Ecuador's sovereign debt, which, with a total face value of approximately US$3.2 billion, represented about 30% of Ecuador's public external debt. In May 2009, Ecuador bought back 91% of its "defaulted" bonds via an international reverse auction.

Economic policies under the CORREA administration - for example, an announcement in late 2009 of its intention to terminate 13 bilateral investment treaties, including one with the US - generated economic uncertainty and discouraged private investment. China has become Ecuador's largest foreign lender since Quito defaulted in 2008, allowing the government to maintain a high rate of social spending; Ecuador contracted with the Chinese government for more than $9.9 billion in forward oil sales, project financing, and budget support loans as of December 2013.

The level of foreign investment in Ecuador continues to be one of the lowest in the region as a result of an unstable regulatory environment, weak rule of law, and the crowding-out effect of public investments. Faced with a 2013 trade deficit of $1.1 billion, Ecuador erected technical barriers to trade in December 2013, causing tensions with its largest trading partners. Ecuador also decriminalized intellectual property rights violations in February 2014. In March, 2015 Ecuador imposed tariff surcharges from 5% to 45% on an estimated 32% of imports. In 2014, oil output increased slightly and production remained steady in 2015 however the oil price decrease from 2014 onward affected government revenue. Ecuador’s economy fell in to recession in 2015 and remained in recession in 2016. As a result, CORREA cut the budget twice in 2015, and reduced it further in 2016. Growth resumed in 2017.

 

Source : CIA

 

 

STATUTORY INFORMATION

 

Legal Name:

BASESURCORP S.A.

Trade Name:

BASESUR

RUC:

0991322752001

Date Created:

1995

Date Incorporated:

1995-07-14

Legal Address:

Via Duran Boliche Km. 3.5, 3-K

Solar 15

Eloy Alfaro

Durán

Guayas

Ecuador

Operative Address:

Via Duran Boliche Km. 3.5, 3-K

Solar 15

Eloy Alfaro

Durán

Guayas

Ecuador

Telephone:

593 4 3713270

Mobile: 0999191819

Fax:

593 4 3713270

Legal Form:

Anonymous Society

Email:

cdelfini@basesurcorp.com

mlopez@basesurcorp.com

ventas@basesurcorp.com

Registered in:

ECUADOR

Website:

www.basesur.com

Contact:

Bruzzone Roldos Jose Emilio, President And General Manager

Staff:

118

Activity:

G4630.12 Wholesale Of Fruit, Vegetables And Vegetables.

 

 

 

BANKS

 The company does not make its banking data public

 

 

HISTORY

 

The company was founded in 1995

 

Key Developments

It began its activities in 1995, with the importation of apples; in later years it is extended in vegetable lines, fresh fruits, grains and spices.

 

In 1998, Basesurcorp receives the exclusive management of the "Dole" brand in Ecuador and in 2003 massively introduces the kiwi in the country.

 

Additionally, the company from 2010 is also engaged in the packaging and retail sale of its products, Evolution of imports of dried fruits - FOB11 under its own brand "Del Sur" as well as under the brand name of its clients, such as the Sunshine brands for Corporación El Rosado and Ta Riko for TIA.

 

 

 

 

PRINCIPAL ACTIVITY

Basesurcorp S.A. is a large organization in the fresh fruits and vegetable companies industry located in Guayaquil, Ecuador.

 

Products/Services description:

The company is engaged in the import, marketing, promotion, distribution and sale locally or abroad of all types of agricultural products, food, fruits, spices, cereals and vegetables.

 

Its main corporate purpose is to engage in the import, marketing, promotion

distribution, packaging, packaging, and; local or overseas sale of all kinds of products, whether these are: agricultural, food, fruit, spices, cereals, nuts and vegetables, making even smaller presentations of all the products you import, deliver and transport them to natural persons or legal entities that market or sell these products, directly or indirectly, within the local or external market, including final consumers.

 

MAIN PRODUCTS

Apple, pears, grapes, lentils, oats, garlic, anise

Brands:

DOLE

DEL SUR

SUNSHINE

TA RIKO

Sales are:

Wholesale

Clients:

Sociedad Agricola La Rosa Sofruco SA

Chile

 

Soc. San Francisco Lo Garces Ltda

Chile

 

Capespan North America

USA

 

Morrison Outsourcing Sac

Peru

Suppliers:

T Y T Export S.A.

Chile

 

Comercial Greenvic S.A.

Chile

 

Dhl Aero Expreso Sa

Chile

 

NORBULK CANADA INC.

Canada

 

Export Packers Co., Ltd.

Canada

 

Sorab Enterprise Pte Ltd

China

Operations area:

National and International

The company imports from

Chile, Canada and China

The company exports to

Chile, USA and Peru

The subject employs

NUMBER OF EMPLOYEES AND DIRECTORS:

As of June 30, 2017.

• Directors: 8

• Administration and sales: 52

• Production: 58

TOTAL 118

Payments:

Regular

 

 

 

 

LOCATION

 

Headquarters :

Via Duran Boliche Km. 3.5, 3-K

Solar 15

Eloy Alfaro

Durán

Guayas

Ecuador

Branches:

Branch:

Autopista Rumińahui km 6 Puente 3

Quito – Ecuador

Phone : 593 2 2835804

 

List of Establishments

Name

Address

Status

 

GUAYAS / GUAYAQUIL / XIMENA / ROBLES 301 Y LIMBERG

CLOSED

BASESUR

GUAYAS / GUAYAQUIL / TARQUI / S/N

CLOSED

BASESUR

GUAYAS / GUAYAQUIL / TARQUI / SOLAR 16

CLOSED

BASESUR

SANTO DOMINGO DE LOS TSACHILAS / SANTO DOMINGO / SANTO DOMINGO / PASOCHOA SOLAR 1 Y EJERCITO ECUATORIANO

CLOSED

BASESUR

GUAYAS / DURAN / ELOY ALFARO (DURAN) / AV. NICOLAS LAPENTTI SOLAR 5

CLOSED

BASESUR

GUAYAS / GUAYAQUIL / XIMENA / CHIMBORAZO 3404 Y AZUAY

CLOSED

BASESUR

GUAYAS / MILAGRO / MILAGRO / GARCIA MORENO S/N Y CHILE

CLOSED

BASESUR

PICHINCHA / QUITO / CHILLOGALLO / AV. MALDONADO S50-104

OPEN

BASESUR

ESMERALDAS / ESMERALDAS / ESMERALDAS / AV. LIBERTAD S/N Y MURIEL

CLOSED

BASESUR

PICHINCHA / QUITO / IŃAQUITO / ATAHUALPA 510 Y ABDON CALDERON

CLOSED

BASESUR

GUAYAS / GUAYAQUIL / GARCIA MORENO / VENEZUELA 2505 Y TUNGURAHUA

CLOSED

BASESUR

PICHINCHA / QUITO / CALDERON (CARAPUNGO) / PANAMERICANA NORTE S/N Y ALFONSO MONCAYO

CLOSED

BASESUR

TUNGURAHUA / AMBATO / AMBATO / AV. EL CONDOR S/N Y BOLIVARIANA

CLOSED

BASESUR

PICHINCHA / QUITO / CONOCOTO / AUTOPISTA GENERAL RUMIŃAHUI S/N

OPEN

Related Companies:

CAMARONERA LYNCH CAMARLYNCH SOCIEDAD ANONIMA

Ecuador

 

INVERSIONES SULTAN S.A. (INSULTAN)

Ecuador

 

DALCAMAX S.A.

Ecuador

 

VAGONICSA S.A.

Ecuador

 

NARAMONTI S.A.

Ecuador

 

BRESLY S.A.

Ecuador

 

HIDROGUAYAS S.A.

Ecuador

 

FLOMEN S.A.

Ecuador

 

GENONE S.A.

Ecuador

Main Competitors:

Drivecorp Sa

Av. Francisco De Orellana Av. Benjamin Carrion Mz.

 

Fruttimania Sa

Tomalon Bajo 07-19- Y La Esperanza

 

Agro Industrial Reforestadora Laurel Agrolaurel Sa

Av. Tercera Via Daule Lado Izquierdo

 

Disconti Sa

Calle 2da 000312 Av 2da

 

Eliflorsa Sa Grupo Floricola San Elias

Coruăa 1915 Whymper

 

 

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

USD 496,000

Shareholders:

(All numbers in USD)

ID

Name

Type of Investment

Capital

908668858

BOSCHETTI JARRIN JULIA DESIREE

NATIONAL

99,200.0000

919756999

BRUZZONE BOSCHETTI CAMILA MARIA

NATIONAL

24,800.0000

920141850

BRUZZONE BOSCHETTI EMILIO ALBERTO

NATIONAL

24,800.0000

922509807

BRUZZONE BOSCHETTI MARCELO ANDRES

NATIONAL

24,800.0000

908682396

BRUZZONE ROLDOS JOSE EMILIO

NATIONAL

322,400.0000

Management:

Bruzzone Roldos Jose Emilio, President And General Manager

Caterina Delfini Garibaldi, Financial Manager

Packed Belgium Acosta Alvarado, Commercial Manager

Frutas Germánico Naranjo Jaramillo, Commercial Manager

 

 

 

 

FINANCIAL INFORMATION

We attach the company´s latest financial statements.

 

 

 

LEGAL FILINGS

 

 

OFAC

Sanctions List Search:

 

The company is not listed in the OFAC list.

 

 

Lawsuits:

No records found 

Investments:

The Company focuses mainly on making investments in its facilities for areas of laboratories, research, product development and storage. The working capital of the company is invested mainly in acquisition of inventory and in credit to customers to boost sales.

Financing:

Financing of its operations is carried out through its own resources (generation of profits), credit from suppliers and financing through mechanisms proposed by the stock market and traditional banking.

Renewal History:

Name of the Legal Act

Resolution number

Resolution Date

Date Registration in the Commercial Register

Admission date

INCREASE IN CAPITAL

6311

12/10/2009

16/11/2009

4/12/2009

CHANGE OF SOCIAL OBJECT

4843

31/7/2008

11/9/2008

8/10/2008

INCREASE IN CAPITAL

7205

30/10/2007

22/11/2007

19/12/2007

CHANGE OF SOCIAL OBJECT

7205

30/10/2007

22/11/2007

19/12/2007

INCREASE IN CAPITAL

1546

7/3/2007

8/3/2007

25/4/2007

ADDRESS CHANGE

1332

10/3/2004

27/4/2004

16/6/2004

INCREASE IN CAPITAL

11230

11/12/2001

28/12/2001

25/9/2002

FUSION BY ABSORTION

11230

11/12/2001

28/12/2001

25/9/2002

OTHER REFORMS

11230

11/12/2001

28/12/2001

25/9/2002

INCREASE IN CAPITAL

6160

30/12/1998

31/12/1998

10/2/1999

 

 

 

SUMMARY

 

Founded in 1995, Basesurcorp S.A. is a large organization in the fresh fruits and vegetable companies industry located in Guayaquil, Ecuador.

 

The company has 118 full-time employees.

 

It mainly imports from Chile, Canada and China, and exports to Chile, USA and Peru , operating within national and international markets

 

This has been an ACTIVE company incorporated in ECUADOR in 1995.

 

 

RISK INFORMATION

 

 

DEBTS

Controlled

PAYMENTS

Regular

CASH FLOW

Normal

STATUS

Active

 

 

INTERVIEW

 

NAME

NA

POSITION

NA

COMMENTS

Despite we called the company several times, the person in charge of providing information about the company was not present, so we could not confirm further information.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.02

UK Pound

1

INR 90.12

Euro

1

INR 80.09

ECS

1

INR 64.74

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.