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MIRA INFORM REPORT
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Report No. : |
508799 |
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Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AKAZZO
INDUSTRIA DE CALCADOS LTDA |
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Registered Office : |
Rodovia
Municipal Carmen Duarte, 499 Galpao13 Anexo N525 Galpao 03 N535 - Galpao 02
N545 Galpao 01, Planalto 35519-000 - Nova Serrana/MG |
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Country : |
Brazil |
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Date of Incorporation : |
09.06.2010 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Manufacture of Footwear. |
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No. of Employees : |
300 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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Brazil |
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 |
BRAZIL - ECONOMIC OVERVIEW
Brazil is the eighth-largest economy in the world, but is recovering from a recession in 2015 and 2016 that ranks as the worst in the country’s history. Falling commodity prices reduced export revenues and investment, which weakened the Brazilian real and cut tax revenues. The weaker real made existing public debt, which was largely denominated in foreign currency, more expensive. Lower tax revenues strained the government budget.
Economic reforms, proposed in 2016, aim to slow the growth of government spending and reduce barriers to foreign investment. Government spending growth helped to push public debt to 78% of GDP at the end of 2017, up from 50% in 2012. Policies to strengthen Brazil’s workforce and industrial sector, such as local content requirements, may have boosted employment at the expense of investment.
Former President Dilma ROUSSEFF was impeached and convicted in August 2016 for moving funds among government budgets; the economy has also been affected by multiple corruption scandals involving private companies and government officials. Sanctions against the firms involved — some of the largest in Brazil — has limited their business opportunities, producing a ripple effect on associated businesses and contractors. In addition, investment in these companies has declined because of the scandals.
Brazil is a member of the Common Market of the South (Mercosur), a trade bloc including Argentina, Paraguay, Uruguay, and Venezuela. After the Asian and Russian financial crises, Mercosur adopted a protectionist stance to guard against exposure to the volatility of foreign markets. Brazil and its Mercosur partners have pledged to open the bloc to more trade and investment, but changes require approval of all five members, which makes policy adjustments too difficult to enact.
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Source
: CIA |
Comapny name
AKAZZO INDUSTRIA DE CALCADOS LTDA
ADDRESSES
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MAIN
ADDRESS: |
RODOVIA MUNICIPAL CARMEN DUARTE, 499
GALPAO13 ANEXO N525 GALPAO 03 N535 - GALPAO 02 N545 GALPAO 01, PLANALTO |
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ZIP CODE/CITY: |
35519-000 - NOVA SERRANA/MG |
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PHONE: |
37 3228-6000 |
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E-MAIL: |
administrativo@akazzo.com.br |
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WEB SITE: |
www.akazzo.com.br |
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INQUIRY DETAILS: |
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GIVEN ADDRESS: |
RODOVIA
MUNICIPAL CARMEN DUARTE 499 BAIRRO PLANALTO |
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CORRECT
ADDRESS: |
THE REQUESTED NAME IS INCOMPLETE. THE REGISTERED
NAME IS STATED ABOVE |
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BRANCHES: |
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ADDRESS: |
RUA DR. HERNAN YVES DUARTE ,868
- DR. HERNAN YVES DUARTE |
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ZIP CODE/CITY: |
35790-000 CURVELO /MG |
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CNPJ: |
12.060.260/0002-12 |
LEGAL DATA
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MAIN
ACTIVITIES: |
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MANUFACTURE OF FOOTWEAR. |
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LEGAL
FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
09/06/2010 |
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REGISTER DATE: |
09/06/2010 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
12.060.260/0001-31 |
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STATE REGISTER: |
001610696.00-62 |
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SHARE CAPITAL: |
R$ 200.000,00 |
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BOARD OF
DIRECTORS: |
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CRISTIANO RESENDE MOREIRA |
MANAGING PARTNER |
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FREUD LEONARDO CURSAGE |
MANAGING PARTNER |
AUTHORIZED USE OF SIGNATURE
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THE MANAGING PARTNERS ARE
AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS
/ PARTNERS: |
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CRISTIANO RESENDE MOREIRA |
50% |
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FREUD LEONARDO CURSAGE |
50% |
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AFFILIATES
/ SUBSIDIARIES: |
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A SCAN THROUGH OUTSIDE SOURCES
SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING UNCONFIRMED
HOLDINGS: |
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PC COMERCIO DE CARTUCHOS LTDA |
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COMPANY'S BACKGROUND
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THE SUBJECT WAS ESTABLISHED ON
JUNE 09, 2010 AS MENGHI INDUSTRIA E COMERCIO DE CALCADOS LTDA TO BE ENGAGED
IN THE SAID LINE OF BUSINESS. LATER IT ADOPTED THE ABOVE MENTIONED NAME AND
UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN. FURTHER DETAILS ARE SO FAR NOT
KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE
INTERVIEWED MS. ANA CRISTINA, FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD
NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS
DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE
THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR
CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION. THE DATA CONTAINED HEREIN WERE
OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL RECORDS. NO FURTHER
DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED. |
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PUBLIC
RECORDS INFORMATION: |
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NO DETRIMENTAL FILES WERE
FOUND. |
FINANCIAL INFORMATION
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DUE TO THE SUBJECT'S LEGAL
FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. WHEN
INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED TO PROVIDE ANY KIND OF
FINANCIAL INFORMATION OUTSIDE SOURCES CONTACTED
SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY. |
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COMMENTS ON THE FINANCIAL INFORMATION: |
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IN THE ABSENCE OF FINANCIAL
INFORMATION NO COMMENTS CAN BE MADE ABOUT THE SUBJECT'S CURRENT FINANCIAL
STANDING. |
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REAL
ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
INSURANCE
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NOT AVAILABLE. |
BANKING REFERENCES
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NOT AVAILABLE. |
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REMARKS: IN BRAZIL THE BANKS
ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT
THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY
BANKING DETAILS. ACCORDING TO THE CENTRAL BANK
OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NOT RETURNED CHECKS UP TO DATE.
(IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK"). |
ACTIVITIES COMMENTS
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MANUFACTURE OF FOOTWEAR. |
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IMPORT
AND EXPORT: |
IMPORTS FROM:
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NOT AVAILABLE. |
EXPORTS TO:
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NOT AVAILABLE. |
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MAIN
CLIENTS: |
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DOMESTIC
CLIENTS: |
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NOT AVAILABLE. |
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STAFF: |
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THE COMPANY HAS: 300
EMPLOYEE(S) |
CONCEPT AND FULFILMENT
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THE SUBJECT IS A
WELL-ESTABLISHED COMPANY, OPERATING SINCE 2010. SO FAR IT HAS A CLEAR TRADE
HISTORY AND NORMAL PAYMENT BEHAVIOUR. THE COMPANY HAS TRADE RELATIONS
WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO
THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR
NO PAYMENT PROBLEMS ARE NOTED. |
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MAIN
SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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ASSOC COML EMPR SAO JOSE DO RIO
PRETO |
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DISTR ELETRONICOS ROUTE 66 LTDA |
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EXCIM IMPORTACAO E EXPORTACAO LTDA |
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JOTACLASS IND COM LTDA |
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PLASTCROMO IND COM BENEFIAMENTO
PLAST METAIS LTDA |
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PAYMENT
HISTORY: |
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10 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 130.014,00 |
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AMOUNT OF INVOICES PAID: 74 |
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TOTAL OF PROMPT PAYMENTS: 99,9% |
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TOTAL OF DELAYED PAYMENTS: 0,1% |
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HIGHEST INVOICE: R$ 21.127,00 |
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HIGHEST CREDIT: R$ 21.127,00 |
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OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
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SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
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DUE WITHIN 30 DAYS |
1 |
2 |
R$ 947,29 |
FINAL OPINION
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BASED ON THE OVERALL DATA
AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS.
CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE
TO THE ABSENCE OF FINANCIAL DATA. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.96 |
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1 |
INR 91.88 |
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Euro |
1 |
INR 80.28 |
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BRL |
1 |
INR 18.19 |
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 : |
NIT |
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
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.