MIRA
INFORM REPORT
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Report Date : |
6th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
CORPORACION INFARMASA SA |
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Registered Office : |
Carretera Central
Km.4.5, Ate, Lima,3 |
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Country : |
Peru |
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Date of Incorporation : |
25.06.1961 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Manufacture, Import,
Representacion and Sale of pharmaceutical products in general, such as:
antihistaminics and analgesics (Sanitas line); antibiotics (magma line), medicines. |
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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT
COMPANY NAME : CORPORACION INFARMASA SA
TAXPAYER
REGISTRATION : RUC
20100102332 OPERATING STATUS: Active
MAIN
ADDRESS : Carretera Central Km.4.5, Ate
CITY/PROVINCE/STATE :
Lima,3
COUNTRY : PERU
TELEPHONE : (511)348.3300
FAX : (511)348.3400
E
- MAIL : agguera@infarmasa.com
WEB
SITE :
www.infarmasa.com
QUALIFICATION
RATING
: ELIGIBLE FOR MODERATE CREDITS
PAYMENTS
: PAYMENTS USUALLY PROMPT
LEGAL BACKGROUNDS
LEGAL
STATUS : Joint-Stock Company
DATE
OF INCORPORATION :
25JUN1961
REGISTERED
IN : Lima
NOTARY
OFFICE : Guillermo Del Solar
DURATION : Indefinite
REGISTRATION :
Entry 1, Page 193, Volume 210
CURRENT
PAID-IN CAPITAL : S/.25,931,205.= Nuevos Soles
LAST
CAPITAL INCREASE : December 2002
SHAREHOLDERS'
EQUITY : S/.34,198,000.=
Nuevos Soles (At 31.12.2004)
TYPE
OF SHARES : Registered
LISTED
AT STOCK EXCHANGE : No
SHARE
VALUE : S/.1.= Nuevo Sol
CURRENT
EXCHANGE RATE : S/.3.32 per 1.00 US
Dollar
COMMENTS
.-
Capital stock was not
disclosed by the company.
HISTORY
The company was
established on 25.06.1961 as LABORATORIOS MAGMA SA.
On 22.02.1978, subject
absorbed the firm INSTITUTO QUIMICO SA(before Notary Dr. Virgilio Alzamora
Valdez).
On 01.04.1997, subject
absorbed LABORATORIOS SANITAS SA and adopted its current name style:
CORPORACION INFARMASA SA.
Later, on 01.06.1998
CORPORACION INFARMASA SA absorbed two firms: CROMATOGRAFICA MA-SA
SA and SEFIAL SA, which
were subsequently dissolved.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL
NAMES / COMPANY NAME TITLE
GARRIDO PINSON, JUAN
JAIME President
CABALLERO MALDONADO, LUIS
ALBERTO General Manager
GARRIDO KOECHLIN, MARCO
ANTONIO DANIEL Central Manager
KLEIN BRACAMONTE,
ENRIQUE Adm & Finance Mgr
LEYVA BELLINA,
ENRIQUE Commercial Manager
GUERRA, ABELARDO General
Accountant
WHO IS WHO ?
GARRIDO
PINSON, JUAN JAIME
NATIONALITY :
Peruvian BORN
: 04MAR1935
TAXP. REGISTRY : RUC 10082649625
PROFESSION :
Chemist Pharmacist
HOME ADDRESS :
Av.Golf Los Incas 349, Monterrico, Surco,
Lima,33
CIVIL STATUS :
Married to María Eugenia Koechlin
CABALLERO
MALDONADO, LUIS ALBERTO
NATIONALITY :
Peruvian
DOC. OF IDENT. : DNI 10477552
GARRIDO
KOECHLIN, MARCO ANTONIO DANIEL
NATIONALITY :
Peruvian BORN
: 25JUL1970
DOC. OF IDENT. : DNI 09337318
RELATED COMPANY(IES)
COMPANY
NAME COUNTRY TAX.REG.
INVERSIONES DOGAR SA PERU 20100929903
RAIN LABS SA PERU 20384694366
BUSINESS
MAIN
ACTIVITY .-
Company is involved in
manufacture, import, representacion and sale of pharmaceutical products in
general, such as: antihistaminics and analgesics (Sanitas line); antibiotics
(magma line), medicines.
Magma line: Aremil, Ceriflix, Ciproflox, Diclosal,
Mucodilat, Clindacin, Neurocol, Notidern, Oleogen, Zoprax, Redex
Sanitas line: Antalgina,
Apacil, Aseptil rojo, Biogen, Bronco Penamox, Carbosan, Cloro Alegan,
Cloromisan.
IMPORT : Yes Raw material from Argentina,India,United Kingdom,Korea,Colombia,Spain,
Italy USA, Germany, Switzerland, China
Annual Imports in US
$(CIF) :
Year Amount
2004 5,716,648.00
2005 7,076,479.00
2006 502,601.00
EXPORT : Yes Pharmaceuticals occasionally to Argentina, Ecuador, etc.
Annual Exports in US
$(FOB) :
Year Amount
2004 3,306,719.00
2006 381,462.00
%
CASH SALES/METHOD : 8%
%
CREDIT SALES/TERMS : 92% (Inv/up to 45 days and/or Draft/90 days)
%
DOMESTIC PURCHASES : 40%
%
FOREIGN PURCHASES : 60%
SELLING
TERRITORY : National market and foreign market
EMPLOYEES : 250
FACILITIES
.-
Premises :
Rented
Area :
12,000 sqm Floors : 2
Condition :
Situated in industrial area.
Use :
Plant of products not containing penicilline
and warehouses
Remarks and other
Premises .-
Administrative site: Av.
Pedro Ruiz Gallo No.521, Pueblo Libre (Lima,21). Tel: 424.0333.
Plant No.2 and warehouses
(manufacture of penicillinic products) : Av. Del Ejército
490, Miraflores
(Lima,18). Own facility.
COMMENTS
.-
CORPORACION INFARMASA SA
operates through its two divisions:
- Magma Division
- Sanitas Division
Main distributors for its
products:
- DISTRIBUIDORA DECO SA
- QUIMICA SUIZA SA
- PROQUIFARMA SA
among others
In month of June 1998,
the company obtained the Certification ISO 9002.
FINANCIAL INFORMATION
Requests were initially
sent to Mr. Abelardo Guerra (General Accountant), to whom a letter was
submitted but he declined all information claiming he had not been authorized
by management to provide any information.
Later, a request was sent
to Mr. Luis Caballero Maldonado (General Manager) which remains without
response to this date.
Therefore, all information
contained in current report was obtained through reliable indirect consulting
sources.
Last figures in our power
correspond to the General Balance Sheet of this company dated 31.12.2004 (12
months), expressed in Nuevos Soles.
It was not possibe to get
more recent balance sheets of this company through third parties.
BALANCE
SHEET DATE : 31DEC2005 31DEC2004 31DEC2003
TYPE OF BALANCE SHEET : General General General
BALANCE SHEET OF : 12 months 12 months 12 months
CURRENCY : Nuevos Soles Nuevos Soles Nuevos Soles
(thousands) (thousands) (thousands)
EXCHANGE RATE PER US$ : 3.23 3.30 3.47
ASSETS
TOTAL CURRENT : 49,226 49,226 54,579
FIXED
: 68,263 10,783 25,943
OTHERS
: 19,531 19,531 44
TOTAL ASSETS :
105,031 79,540 80,565
LIABILITIES
TOTAL CURRENT :
43,924 48,016
LONG TERM
: 1,418 1,418 5,633
TOTAL EQUITY :
41,051 34,198 26,916
TOTAL LIABILITIES :
63,980 79,540 80,565
SALES :
106,352 102,854 99,377
PROFIT (LOSS) :
8,981 6,977 5,158
Continuación
... :
31DEC2005 31DEC2004 31DEC2003
LIQUIDITY RATIO : 1.12 (Current Assets/Current
Liabilities)
PROFITABILITY MARGIN :
8.44% (Profits/Sales)
INSURANCE
.-
Company Against
EL PACIFICO PERUANO SUIZA
CIA.DE SEGUROS All risk
PAYMENTS RECORD
TRADE
REFERENCES .-
|
Line of Credit |
Monthly Average |
Terms(days)) |
Performance? |
Time |
Products/ Services |
Supplier |
|
1 US$ 80,000.= |
|
Draft/90 ds |
Prompt |
1978 |
Raw materials |
Domestic |
|
2 US$ 100,000.= |
Not specified |
Draft/30 ds |
Prompt |
5+ years |
Customs service |
Domestic |
|
Not specified |
Not specified |
Inv.30 days |
Prompt |
30 days |
Boots |
Domestic |
COMMENTS .-
Nº1: Accumulated purchase
amounts of subject range from US$60,000.= to US$70,000.=
Other consulted suppliers
have not answered our reference requests and/or declined to
give references.
LIST
OF DOMESTIC SUPPLIERS .-
Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier _ Telephone _
Abel Ulloa Sánchez SA
Codigraf (511)
3263107
Cristal Murano
Peruano (511) 3622216
Droguería Ricardo
Céspedes (511) 4715495
Imperlac SRL (511)
4714033
Industrias Lintex Import
SRL (511)
5222843
Marva SA (511) 5220067
Palacios & Asociados
Agentes de Aduana SAC (511) 4652959
Selecta SA
V. Tecnic SA
LIST
OF FOREIGN SUPPLIERS .-
Suppliers listed
Alphabetically. There is not
relationship as for the order above
Supplier _ Country _
American Forma Group ITALY
Andenex Chemi ITALY
Gibrocades NETHERLANDS
Medi Pulp Gmbh GERMANY
Mitsui Co. Ltda JAPAN
CREDIT
RISK CENTRAL .-
Found a total of 12 protested
documents against subject in following years:
2005: (01) Returned check
amounting to S/.841.=
(05) Drafts totaling
US$153,081.=
2003: (02) Drafts
amounting to US$1,399.=
2000: (04) Drafts
totaling S/.13,000.= and US$15,948.=
On the other hand, subject
is reported delinquent debt before the following entities:
- VID. 28 DE JULIO SA,
debt amounting to US$197.=, corresponding to one due period.
- AMERICA MOVIL PERU,
debt amounting to S/.110.=, corresponding to one due period.
- MUNICIPALITY OF MIRAFLORES-LIMA,
debt amounting to S/.1,284.=, corresponding to one
due period
(Administrative fines)
CREDIT
HISTORY .-
Trade references gathered
as of month of March 2005 revealed good payment performance
of this company.
LAWSUITS
? .-
No lawsuit were found.
BANKING INFORMATION
BANKERS
Bank Contact
BANCO DE CREDITO DEL
PERU Jessica Vizcardo
BBVA BANCO
CONTINENTAL Luis Renteros
BANCO WIESE SUDAMERIS
Local bank reports subject
holds current accounts in Nuevos Soles and in U.S. Dollars,
which were opened during
year 1985.
Through other sources we
could also find out Subject makes active use of banking
facilities. No adverse
information noted.
SUPERINTENDENCY
OF BANK & INSURANCE - SBS .-
The SBS reported the
following debts before the Financial System as at 31DEC2006 (Last Report)
Obligations DC(S/.) FC(US$)
Advance in current account
cont 340,171.00 38,654.00
Credit cards-contract 1,031.00 0.00
Discounts-drafts 19,670,183.00 0.00
Loans
3,509,166.00 0.00
Financial Leasing 0.00 392,167.00
Foreign trade credit 3,714,700.00 0.00
Letters of indemnity 9,580,282.00 23,993.00
Letters of credit 0.00 508,659.00
Others
1,697,668.00 12,275.00
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Total Indebtedness S/.
38,513,201.00 US$
975,748.00
Guarantees S/.
276,684.00 US$
6,707,543.00
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. DE CREDITO 30,997,501.00
B. CONTINENTAL 3,681,644.00
B. WIESE SUDAMERIS 5,699,179.00
CREDILEASING 1,253,365.00
RATING
EXPLANATIONS
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<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%)