Context: How Bolsa de Valores de Asuncion works, and what it makes issuers disclose · Paraguay on the LatAm Power Map
Paraguay’s only listed funeral-services company sells burial plans and tomb insurance to families who want certainty in grief — a quiet, recession-proof business that has spent much of the past two years fighting its own paperwork problems with the national regulator.
| Full name | Compañía General de Servicios S.A. |
|---|---|
| Ticker / exchange | CGS.PY — Bolsa de Valores y Productos de Asunción (BVPASA) / listed with Superintendencia de Valores, Banco Central del Paraguay |
| Headquarters | República Argentina Nº 1512 esq. Prof. Miguel Torres, Asunción, Paraguay |
| Sector | Funeral services & burial insurance (seguro de sepelio) |
| Employees | Not published (see note below) |
| Market value (market cap) | Not published: BVPASA equity price data not publicly available for this issuer |
| Yearly sales (revenue) | Not published (see note below) |
| Net profit | Not published (see note below) |
| Net margin | Not published |
| Return on equity | Not published |
| Price-to-earnings | Not published |
| Dividend yield | Not published |
| Outstanding bond (Series 1) | Gs. 5,000,000,000 (≈ USD 825,000 at 6,061.49 PYG/USD) |
| Website | Not publicly disclosed in available primary sources |
What it is
Compañía General de Servicios S.A. is a Paraguayan company whose sole registered activity is the provision of funeral services, burial insurance (seguro de sepelio), and all related activities. In plain terms, it sells pre-paid death-care plans — a monthly premium buys the family a guaranteed funeral package, sparing them the cost and chaos of arranging one at the worst possible moment.
The business model is inherently defensive: demand does not fall in recessions, and contracted plan-holders pay monthly whether or not they ever need the service. CGS is listed on the Bolsa de Valores y Productos de Asunción alongside Cóndor de Servicios, the only other funeral-sector issuer on the exchange.
Who owns it
The company’s board president is Lic. César García.
The exact shareholder structure — who holds what percentage, and whether a family, a cooperative, or outside investors control the float — is not broken out in any public filing accessible via the Superintendencia de Valores or BCP emisores pages.
Not published: The ownership composition (accionistas and their percentage stakes) does not appear in the publicly accessible sections of the Superintendencia de Valores issuer page (siv.bcp.gov.py) or the Bolsa de Valores notice record. Under Paraguay’s securities framework — Resolución N° 35/2023 (Reglamento General del Mercado de Valores), Título 4, Capítulo 3 — listed issuers must file periodic information including shareholder structures, but those documents are held in the regulator’s expediente system and the numerical breakdown did not surface in the public web-accessible record.
Who runs it
Lic. César García is named as the company’s President in the Superintendencia de Valores register.
A separate CEO or CFO name does not appear in any public filing or exchange notice retrieved from primary sources; in Paraguay’s corporate-governance model for small listed companies, the board president often doubles as executive chair.
Not published: The names of the chief executive officer and chief financial officer are not disclosed in the publicly accessible sections of the Superintendencia de Valores issuer file or BCP emisores record reviewed for this profile.
The money, in plain words
Not published: Revenue, net profit, total assets, and all derived ratios (net margin, return on equity) are not accessible in the public-facing sections of the Superintendencia de Valores issuer page or BVPASA trading data. The Superintendencia lifted a prior trading suspension in October 2025 because the company had regularised its annual periodic report for the year ending 31 December 2024 — confirming that an audited annual report for FY2024 does exist and was accepted by the regulator — but the filed document is held within the regulator’s internal expediente system and was not retrievable via the public web.
Under Resolución N° 35/2023, Título 4, Capítulo 3, all listed issuers in Paraguay must file annual audited financial statements; CGS complied belatedly for FY2024.
What is public: CGS has outstanding bonds under a Series 1 bond programme with a face value of Gs. 5,000,000,000 (≈ USD 825,000), originally maturing 4 July 2022, on which the company has been making staggered interest and principal payments to bondholders via clearing through Valores C.B.S.A. as bondholder representative.
What it is doing now
The single most material recent event is a persistent pattern of late regulatory filings. The Superintendencia de Valores suspended CGS from issuing new shares or bonds on 15 November 2024 because it had failed to submit its quarterly periodic report for the period ending 30 September 2024, as required by Resolution SV.SG.
N° 0022/2024. A further suspension was imposed on 17 November 2025 for missing the quarterly report for the period ending 30 September 2025.
The regulator lifted an earlier suspension on 15 October 2025 after the company regularised its annual filing for the year to 31 December 2024. The cycle — late filing, suspension, catch-up, reinstatement — has repeated across multiple quarters, suggesting a compliance function under stress rather than a company in financial default.
What to watch
- Filing discipline: CGS has been suspended from primary-market issuance at least five times since early 2024. A clean run of on-time quarterly filings would be the clearest signal that governance has improved.
- Bond repayment: CGS continues to make staggered interest and amortisation payments on its Gs. 5,000,000,000 Series 1 bond — watch whether it retires this obligation in full or seeks to refinance.
- Revenue disclosure: Once the FY2024 filed accounts become publicly searchable, revenue and margin data will allow a first real valuation anchor for equity investors.
- Sector consolidation: Paraguay’s funeral-plan market is small and fragmented; any move by a cooperative or insurance group to acquire CGS or merge with Cóndor de Servicios would reshape the listed landscape.
Sources
- Superintendencia de Valores, Banco Central del Paraguay — CGS issuer page (primary regulator record): https://siv.bcp.gov.py/?page_id=692
- Comisión Nacional de Valores (CNV) — CGS issuer page (historical CNV record): https://www.cnv.gov.py/?page_id=692
- Banco Central del Paraguay — Emisores (issuer registry with activity, address, president): https://www.bcp.gov.py/en/emisores
- Bolsa de Valores y Productos de Asunción (BVPASA) — exchange homepage: https://www.bolsadevalores.com.py/
- Market data: EODHD (no financial data available for CGS.PY; confirmed absent).
This is news, not investment advice.
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