MIRA
INFORM REPORT
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Report Date : |
27th May 2006 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS PORTUGAL SRL |
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Registered
Office : |
Calle Miguel
Grau 313-317, Urb. La Libertad, Cerro Colorado Arequipa/Arequipa, Peru |
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Country : |
Peru |
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Date of
Incorporation : |
19th August
1988 |
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Legal Form : |
Limited Liability Partnership |
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Line of
Business : |
Manufacturers and traders of medical products;
toiletries and specialties |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY
NAME :
LABORATORIOS PORTUGAL SRL
TRADE NAME :
"LABPORT SRL"
TAXPAYER
REGISTRATION : RUC 20100204330
OPERATING STATUS : Active
MAIN ADDRESS :
Calle Miguel Grau 313-317, Urb. La Libertad, Cerro Colorado
CITY/PROVINCE/STATE :
Arequipa/Arequipa
COUNTRY : PERU
TELEPHONE : (511)25.1292
FAX : (511)25.1292
E - MAIL : labportugal@naturaperu.com.pe
WEB SITE : www.naturaperu.com
COMMENTS .-
Other e-mail:
shuaman@naturaperu.com
QUALIFICATION
RATING : ELIGIBLE
FOR MODERATE CREDITS
PAYMENTS : PAYMENTS USUALLY
PROMPT
LEGAL BACKGROUNDS
LEGAL STATUS :
Limited Liability Partnership
DATE OF
INCORPORATION : 19AUG1988
REGISTERED IN :
Arequipa
NOTARY OFFICE :
Rosendo Fernández
DURATION : Indefinite
REGISTRATION :
Page 242, Vol.42, Entry 1/License 18716
CURRENT PAID-IN
CAPITAL : S/.4,674,731.= Nuevos Soles
SHAREHOLDERS'
EQUITY : S/.6,504,877.= Nuevos Soles (31/12/2005)
TYPE OF
SHARES : Partners profit sharing
LISTED AT STOCK
EXCHANGE: No
CURRENT EXCHANGE
RATE : S/.3.26 per USD1
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES /
COMPANY NAME TITLE OWNERSHIP %
PORTUGAL RICKETTS,
JOSE ALONSO General Manager 74%
PORTUGAL RICKETTS,
JOSE ALEJANDRO Partner 16%
LABORATORIOS
NATURALES Y GENERICOS SAC
Shareholder 10%
WHO IS WHO ?
PORTUGAL RICKETTS,
JOSE ALONSO
NATIONALITY :
Peruvian
BORN :
16MAY1955
DOC.
OF IDENT. : DNI
30849722
TAX.REGIS. : RUC 10292378420
HOME
ADDRESS : Ramón Castilla 441,
Arequipa
Associated as per
our database to :
Company Tax. Reg. Country
LABORATORIOS
NATURALES Y GENERICOS SAC 20405976898 PERU
PORTUGAL
RICKETTS, JOSE ALEJANDRO
NATIONALITY :
Peruvian
DOC.
OF IDENT. : DNI 29237842
HOME
ADDRESS : Ramón Castilla 441, Arequipa
TLF :
253106
RELATED COMPANY(IES)
COMPANY NAME COUNTRY TAX.REG. RELATION
LABORATORIOS
NATURALES Y GENERICOS SAC PERU 20405976898 Related
BUSINESS
MAIN ACTIVITY .-
Subject
manufactures and trades medical products; toiletries and specialties:
Paracetamol,
panadol, uncaria tomentosa (uña de gato) capsules, lettuce creams, nacar shell
cream, sun blocks, among other.
Trademark:
PORTUGAL, NATURGEN.
IMPORT : Yes
(Chemical inputs from Brazil, Thailand, Colombia, USA, Spain, India, China
Chile,
Germany)
Annual
Imports in US $(CIF) :
Year Amount
2006 334,349.00
2005 1,677,593.00
2004 380,440.00
EXPORT : Yes
(Pharmaceuticals to Ecuador, Brazil, Belgium, Venezuela)
Annual
Exports in US $(FOB) :
Year Amount
2006 72,165.00
2005 591,860.00
2004 293,872.00
% CASH
SALES/METHOD : 50% - invoice at 30 days
% CREDIT
SALES/TERMS : 50% - Drafts
at 60 and 75 days
% FOREIGN
SALES(COUNTRIES) : 10%
% DOMESTIC
PURCHASES : 20%
% FOREIGN
PURCHASES : 80%
SELLING
TERRITORY : 50% - Lima; 40% - rest of
the country
EMPLOYEES : 180
FACILITIES .-
Area :
2,000 m2
Floors : 2
Condition :
Good; concrete material
Use : Legal
address, administration offices, warehouses and lab.
Remarks and other
Premises .-
Facilities are
owned by the partners.
Formerly, they
were located at Peral 427 - Arequipa
There are other
premises at Calle Miguel Grau 314,
Urb.La Libertad, Cerro Colorado-Arequipa. Rented facilities.
We found out
Subject is implementing another production plant in the district of Cerro
Colorado Zona Industrial de Río Seco. This area covers 4,500 m2, and will be
opened as from the second quarter 2006. Plot of land is owned by the partners.
There are branches
in Chiclayo, Huancayo and Lima.
COMMENTS .-
Major clients and
distributors:
- Fármacos del
Norte Trujillo SRL
- Dimexa SA
(Arequipa)
- Albis SA
- Norfarma SA
(Chiclayo)
- Boticas Arcángel
- Essalud.
FINANCIAL
INFORMATION
Saúl Huamán
Delgado (Accountant/Legal Representative) provided updated operating data
as well as the
main accounts of the Balance Sheet as of December 31, 2005, expressed in
Nuevos Soles.
Some details were
obtained from external sources.
Subject enyoys a
good reputation as bank and trade circles commented. However, some
payment defaults
before public and private entities have been reported.
BALANCE SHEET DATE : 31DEC2005 31DEC2004
TYPE OF BALANCE
SHEET :
Annual Annual
BALANCE SHEET OF :
12 months 12 months
CURRENCY : Nuevos Soles
Nuevos Soles
EXCHANGE RATE PER
US$ :
3.44 3.30
ASSETS
TOTAL CURRENT
: 14,169,781.00
9,695,666.00
FIXED : 3,182,713.00 2,759,041.00
TOTAL ASSETS : 17,352,494.00 12,454,707.00
LIABILITIES
TOTAL CURRENT : 10,309,575.00 6,040,580.00
LONG TERM : 538,042.00
OTHERS :
0.00 844,921.00
TOTAL EQUITY : 6,504,877.00 5,569,206.00
TOTAL LIABILITIES : 17,352,494.00 12,454,707.00
SALES : 29,438,338.00 20,000,000.00
PROFIT (LOSS) : 1,830,147.00 1,601,298.00
LIQUIDITY
RATIO : 1.37 (Current
Assets/Current Liabilities)
DEBT-TO-EQUITY
RATIO: 63.10%
(Shareholders'equity/Current Liabilities)
PROFITABILITY
MARGIN: 6.22% (Profits/Sales)
WORKING
CAPITAL : 3,860,206.00
(Current Assets - Current Liabilities)
FINANCIAL
SITUATION : LIGHTLY FAIR
According to the
last Financial Statement, Subject's Financial Position is considered
slightly Extended,
as Liquidity Ratio is lightly acceptable. Working Capital is lightly
satisfactory.
Liabilities are moderately supported by shareholder's equity. Results are
acceptable.
INSURANCE .-
Company
EL
PACIFICO PERUANO SUIZA CIA.DE SEGUROS
PAYMENTS RECORD
TRADE REFERENCES
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Line
of Credit _ Monthly Average _ Terms(days))
Performance? _ Time _ Products/Services Supplier
1
US$ 8,000.= No specified Draft 90 day Prompt 6 years Plastic containers
Domestic
2 Open Draft, 30 45 Prompt Sv. year Glass containers Domestic
3 Open No specified 30 days Prompt Sv. yrs. Steel strap Domestic
COMMENTS .-
Second reference
commented last purchase was made four months ago.
Other suppliers contacted have not responded to our reference request
or were unwilling
to give information under privacy policy.
LIST OF DOMESTIC SUPPLIERS .-
Suppliers listed Alphabetically. There is not relationship as for the order
above
Supplier _ Telephone _
Carlos Kochgrattes (511) 4740832
Empresa Importadora Continental SA (511) 4240381
Fasoglass SCRL (511)
4851606
Global Pack SRL (5154)
235549
Plastifom SRL (511)
5342881
CREDIT RISK CENTRAL .-
On the other hand, some payments in arrears have been traced before the
entities below:
ESSALUD, a debt for S/.437.=, corresponding to one overdue period
ONP, a debt for S/.125.=,
corresponding to one overdue period
SUNAT, a debt for S/.48,387.=,
corresponding to three overdue periods
AFP INTEGRA, a debt for S/.1,611.=,
corresponding to two overdue periods
CREDIT HISTORY .-
Trade backgrounds for the previous periods reflected a good obligation
performance.
BANKING INFORMATION
BANKERS
Bank Contact
BANCO DE CREDITO DEL PERU Ricardo
Bernedo
BANCO WIESE SUDAMERIS SAA Luis
Armando Rivera
BBVA BANCO CONTINENTAL Jaime
Zegarra
BANCO INTERNACIONAL DEL PERU
Bank transactions are performed in said banks. One of them reported
current accounts
both in Dollars and Nuevos Soles, opened since 1982. No more particulars
were obtained
in this regard.
SUPERINTENDENCY OF BANK & INSURANCE - SBS .-
The SBS reported the following debts before
the Financial System as at 31MAR2006 (Last Report)
Obligations DC(S/.) FC(US$)
Credit cards-contract 1,010.00 561.00
Discounts-drafts 6,113,272.00 0.00
Loans 200,000.00
90,000.00
Letters of indemnity 345,358.00 5,000.00
Letters of credit 0.00 30,000.00
-------------------- --------------------
Total Indebtedness S/. 6,659,640.00 US$ 125,561.00
Guarantees S/. 191,000.00 US$ 2,261,161.00
The SBS ranks Subject Company's indebtedness before the Financial
System as follows :
RATING % RATING DESCRIPTION
ACCORDING TO THE SBS
X NORMAL 100
Debtors meet payments on time
PROBLEM POTENTIAL Debtors
reveal certain deficiencies not corrected appropriately
DEFICIENT Debtors present worsening of category with
commercial problem
DOUBTFUL Debtors that reveal high risk characteristics
implying doubtful debt recovery
LOSS Debtors whose credits are estimated uncollectible
Debt structure for Bank (domestic currency)
Bank Amount
(S/.)
B. CONTINENTAL 3,389,081.00
B. WIESE SUDAMERIS 2,235,565.00
B. DE CREDITO 835,994.00
BCO. INTERBANK 677,052.00
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an
extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses
adequate working capital. No caution needed for credit transaction. It has
above average (strong) capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors
are apparent. Repayment of interest and principal sums in default or expected
to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit
risk exists. Caution needed to be exercised |
Credit not
recommended |