MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
FARK CORPORACION S.A. DE C.V. |
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Registered Office : |
Av. Laura Aguirre 293,
Colonia Santo Tomas, Delegación Miguel Hidalgo, México D.F. |
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Country : |
Mexico |
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Financials (as on) : |
30.11.2002 |
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Date of Incorporation : |
07JUN1994 |
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Legal Form : |
Stock Company of
Variable Capital |
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Line of Business : |
Import and commercialization
of raw material for the pharmaceutical industry. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT
COMPANY NAME : FARK CORPORACION S.A. DE
C.V.
TAXPAYER
REGISTRATION : RFC FCO-940607-9L9
OPERATING
STATUS : Active
MAIN
ADDRESS : Av. Laura Aguirre 293, Colonia Santo Tomas, Delegación Miguel Hidalgo
CITY/PROVINCE/STATE :
México D.F.
COUNTRY : MEXICO
TELEPHONE : (5255)5341.8326
FAX : (5255)5341.8326
E
- MAIL : farkorp@avantel.net
SUMMARY
Incorporation :
1994
Operating
Status : Active
Last
Capital : Ps$ 50,000.= Pesos
Shareholders'
Equity : Ps$.3,828,170.= Pesos (Al
30.11.2002)
Annual
Sales : 24,633,604.00 Pesos
Employees : 8
Company Refused Information
Payments : Usually to terms/good
QUALIFICATION
RATING
: Company Refused Information
PAYMENTS
: Usually to terms/good
LEGAL BACKGROUNDS
LEGAL
STATUS : Stock Company of Variable Capital
DATE
OF INCORPORATION : 07JUN1994
REGISTERED
IN : Mexico DF
NOTARY
OFFICE : Rogelio Magana Luna.
DURATION : 99 years
REGISTRATION :
No.156.
INITIAL
CAPITAL : Ps$ 50,000.= Pesos
CURRENT
PAID-IN CAPITAL : Ps$ 50,000.= Pesos
LAST
CAPITAL INCREASE :
No increase recorded
SHAREHOLDERS'
EQUITY : Ps$.3,828,170.=
Pesos (as of 30.11.2002)
CURRENT
EXCHANGE RATE : Ps$ 10.87 per 1.00 US
Dollar
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL
NAMES / COMPANY NAME TITLE OWNERSHIP %
MERE BROISSIN, LUIS
ALBERTO Gral.Mg/Legal Rep. 90%
RODRIGUEZ GOMEZ, ROSA
MARIA Accountant
GONZALES SULA, CLAUDIA
ALEJANDRA Shareholder 10%
WHO IS WHO ?
MERE
BROISSIN, LUIS ALBERTO
NATIONALITY : Mexican
PROFESSION : Businessman
RODRIGUEZ
GOMEZ, ROSA MARIA
NATIONALITY : Mexican
GONZALES
SULA, CLAUDIA ALEJANDRA
NATIONALITY : Mexican
BUSINESS
MAIN
ACTIVITY -
Import and
commercialization of raw material for the pharmaceutical industry.
IMPORT : Yes Commodities from Germany, China and India.
%
CASH SALES/METHOD : 10%
%
CREDIT SALES/TERMS : 90% (30-60-90-day credit terms)
%
DOMESTIC PURCHASES : 50%
%
FOREIGN PURCHASES : 50%
SELLING
TERRITORY : 100% in the National Market (mainly in The Federal District and
Guadalajara)
EMPLOYEES
: 8
FACILITIES
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Premises : Rented
Use : Administrative and commercial offices and saelling
offices at the above address.
Remarks and other
Premises -
Former address: Av. de
Las Granjas No.61-2, Colonia Jardin Azpeita, Azcapotzalco, México DF.
No branches are reported.
COMMENTS
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The import transactions
of the Company are carried out through credits at 90 and 120 days and direct
payments.
FINANCIAL INFORMATION
We interviewed Mrs. Rosa
María Rodríguez (Accountant) after several requests, who told us financial
information disclosure was only possible if they received a written request,
same which would be submitted to the General Management for the necessary
approval, as due to corporate policies company's financials were regarded confidential.
She did provide us however other corporate information contained on this
comercial report.
It should be mentioned
the letter was submitted as requested but no response has been obtained so far.
Therefore, the investigation was developed through different external sources,
registries, databases, etc., but it was not possible to obtain updated
financial statements of the Company to determine their actual financial
capacity.
As reference we are
including in this report a balance sheet of the Company dated November 30th.,
2002 (11 months), expressed in Pesos (Ps$), only financial information of the
Company available from our database and included in this report for your
reference.
BALANCE SHEET DATE :
30NOV2002
TYPE OF BALANCE SHEET : Interim
BALANCE SHEET OF : 11 months
CURRENCY : Pesos
EXCHANGE RATE PER US$ : 10.38
ASSETS
TOTAL CURRENT :
17,740,125.00
FIXED : 208,757.00
OTHERS
: 72,669.00
TOTAL ASSETS :
18,021,551.00
LIABILITIES
TOTAL CURRENT :
14,193,381.00
TOTAL EQUITY : 3,828,170.00
TOTAL LIABILITIES :
18,021,551.00
SALES :
24,633,604.00
PROFIT (LOSS) :
2,121,581.00
LIQUIDITY RATIO :
1.25 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY RATIO : 26.97% (Shareholders'equity/Current
Liabilities)
PROFITABILITY MARGIN : 8.61% (Profits/Sales)
WORKING CAPITAL :
3,546,744.00 (Current Assets - Current Liabilities)
INSURANCE
–
Company Against
SEGURO NACIONAL
PROVINCIAL All risk
PAYMENTS RECORD
TRADE
REFERENCES -
Line of Credit Monthly Average Terms(days)) Performance? Time Products/Services
Supplier
1 US$ 50,000.= US$ 5,000-20,000.= 30 days
Prompt 10 years Raw
material for the phar Domestic
COMMENTS -
The supplier: RETECMA
S.A. DE C.V. classifies the subject as a good client.
LIST
OF DOMESTIC SUPPLIERS –
Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier Telephone
Chang Gay
Euroresian
Moléculas Finas de Mexico
SA de CV (5255)56727755
Retecma SA de CV (Srta.
Delia Hernandez) (5255)54801700
Simbiotik SA de CV (Srta.
Laura Reyes) (5255)53978251
Wockhardt
BANKING INFORMATION
BANKERS
Bank
BBVA BANCOMER S.A.
SCOTIABANK
BANAMEX
All financial
transactions of the Company are carried out through the above named banks, which
would not provide us references under confidentiality policy.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)