MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
VITAL C HEALTH PRODUCTS, INC |
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Registered Office : |
3203-B East
Tower, PSE Center, Exchange Road,
Ortigas Center, Pasig, 1605 |
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Country : |
Philippines |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2007 |
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Com. Reg. No.: |
CS200702971 |
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Legal Form : |
Corporation |
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Line of Business : |
Engaged in Sales
Promotion Wholesales Vitamins and Minerals |
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 : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
BUSINESS SUMMARY
COMPANY NAME : VITAL C HEALTH PRODUCTS, INC.
ADDRESS : 3203-B East Tower, PSE Center
Exchange Road, Ortigas Center
Pasig
1605
Philippines
TELEPHONE : (63) (2) (6352256)
(63) (2) (6352257)
FAX : (63) (2) (6352258)
WEB PAGE :
www.vtial-c.com
REGISTRATION
# : CS200702971
START DATE : 2007
CONTROL DATE : 2007
HISTORY :
Clear
EMPLOYEES
(Total) : 30 Est
SALES
TERRITORY : Local
NET WORTH
(Tangible) : PHP 5,925,513
AUTHORIZED
CAPITAL : PHP 7,500,000
ISSUED
CAPITAL : PHP
1,875,000
PAID-UP
CAPITAL : PHP
1,875,000
CHIEF
EXECUTIVE : Cynthia S. Gavile
President
SIC 8743 -9904
5122 -0310
LOB Engaged in
sales promotion
CURRENT INVESTIGATION
Ms Joy Garces, Assistant-Accounting, declined
financials but confirmed operations.
Ms Joy Garces, Assistant-Accounting, stated
that:Comments :
Other
Comments: They do
not provide detailed
information on subject's
operations unless they know the name of the
inquiring party.
FINANCE
Comparative Figures of Philippine Peso
Date
31/Dec/2007
------------------------------------------------------------
Fiscal
Current:
Assets
7,213,752
Liabilities 6,205,397
------------------------------------------------------------
Working Cap. 1,008,355
Other :
Tangible Assets 4,917,158
Liabilities 0
------------------------------------------------------------
Net Worth
5,925,513
------------------------------------------------------------
Annual Sales 587,501
Inventory
6,490,567
Cash & Bank 553,206
Fixed Assets 4,917,158
A/Cs Payable 1,205,397
Fiscal Balance Sheet as of 31/Dec/2007 (in
Philippine Peso)
Cash & Bank 553,206 Accounts Payable 1,205,397
Inventory 6,490,567 Advances from Stockholders 5,000,000
Prepayments 169,979 -----------
----------- TOTAL
CURRENT LIAB 6,205,397
TOTAL CURRENT ASSETS 7,213,752 -----------
-----------
Capital 7,500,000
Leasehold Improvements 1,800,754 Retained Earnings (loss) -1,574,487
Furniture Fixtures &
-----------
Fitting 72,545 TOTAL EQUITY 5,925,513
Office Equipment 175,362 -----------
I.T. Software & Equipment 2,868,497
-----------
TOTAL FIXED ASSETS 4,917,158
-----------
----------- -----------
TOTAL ASSETS 12,130,910 TOTAL LIAB & EQUITY 12,130,910
----------- -----------
Profit & Loss Account
Figures in Philippine Peso
Date
31/Jan/2007
No. of Months 9
Opening
Sales / Income 587,501
Less: Cost of Sales
-237,395
Gross Profit 350,106
Total General Expenditure
-1,673,383
Net Operating Profit (Loss)
before Taxation -1,323,277
Other Non-operating Income 7,589
Less: Other Expenses
-258,799
Net Operating Profit
before Tax and
after Extraordinary Items
-1,574,487
Income Tax / Other Taxes 0
Net Profit(Loss) after Tax
-1,574,487
Accounts are audited by Nelia
Cubangbang-Caceres, CPA.
2007
----
SOLVENCY
--------
Current Ratio 1.16
Quick Ratio 0.08
Total Liabilities to Net Worth Ratio
(%) 104.72
EFFICIENCY
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Collection Period (Days)
-
Sales to Inventory (Times) -
PROFITABILITY
-------------
Return on Sales (%) -
Return on Net worth (%)
-
REGISTRATION DETAILS
LEGAL STRUCTURE :Corporation
REGISTERED :26 Feb 2007
REGISTRATION BODY :Securities Exchange Commission
FILE NUMBER :CS200702971
Mandaluyong City
Philippines
TAX REGISTRATION NUMBER :006-650-642
Registry details provided by :search at local registry office
CAPITAL DETAILS
AUTHORIZED CAPITAL :PHP 7,500,000.00
ISSUED CAPITAL :PHP 1,875,000.00
PAID-UP CAPITAL :PHP 1,875,000.00
ORDINARY SHARES : 1,875,000.00 at par value 100.00
SHAREHOLDER(S)
The following details represents the Full
Shareholders List.
ORDINARY SHARES
Name of Shareholder Location
Amount % Held
------------------- -------- ------ ------
Cynthia S. Gavile Philippines 843,750 45
Wilbert Loa Philippines 257,813 13.75
Richard L. King Philippines 257,813 13.75
Helen Jo Philippines 257,812 13.75
Manuel Torrejon, Jr. Philippines 257,812 13.75
Total No. of shareholder :
5
Shareholdings as at : 16 Jan 2008
Shareholdings at :
Philippine Peso 1,875,000
CORPORATE DIRECTORS
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Name : Cynthia S. Gavile
ADDRESS : 3203-B East
Tower, PSE Center
Exchange Road, Ortigas Center
Pasig City 1605
Philippines
ID NO :
219-095-344
NATIONALITY :
Philippines
Name : Richard
L. King
ADDRESS : Holy Name Street, Mabolo
Cebu City 6000
Philippines
ID NO :
104-111-485
NATIONALITY : Philippines
Name : Wilbert
Loa
ADDRESS : 922 Alvardo Street, Binondo
Manila 1006
Philippines
ID NO :
163-407-617
NATIONALITY : Philippines
Name
: Manuel T. Torrejon,
Jr.
ADDRESS : 103 Simoun Street, Brgy. Matalahib
Quezon City 1100
Philippines
ID NO :
130-722-020
NATIONALITY : Philippines
Name
: Helen Jo
ADDRESS : 37 Telstar Street, Do a Vicente Village, Bajada
Davao City 8000
Philippines
ID NO : 948-315-494
NATIONALITY : Philippines
EXECUTIVES
Name : Cynthia S. Gavile TIN 219-095-344
Current Title : President
Current Title : Director
Active in daily operations : Yes
Name : Richard L. King TIN 104-111-485
Current Title : Chairman
Name : Wilbert Loa TIN 163-407-617
Current Title : Treasurer
Current Title : Director
Name : Manuel T. Torrejon, Jr. TIN 130-722-020
Current Title : corporate Secretary
Current Title : Director
Name : Helen Jo TIN 948-315-494
Current Title : Director
OPERATIONS
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8743-9904
Engaged in sales promotion
5122-0310
Wholesales vitamins and minerals
PURCHASING TERMS
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IMPORT TERMS
Special Terms
SALES TERRITORY
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LOCAL : 100 %
SELLING TERMS
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LOCAL SALES TERMS
TERMS : cash
CUSTOMERS
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MAJOR CUSTOMERS
Individual(s)
EMPLOYEE(s) - CURRENT
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Total Employees : 30
Estimated
PEAK SEASONS
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Subjects operations are non-seasonal.
LOCATION
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TYPE OF OCCUPATION: Leased
LOCATION : Commercial area
PREMISES USED AS : Administrative office Marketing office
BRANCH(es)
3/F St. Francis Square Bldg.
Ortigas Center
Pasig City 1605
Philippines
Location Type : Liaison
office
Club Ultima Tower 2, Fuente Tower
Osmena Boulevard
Cebu City 6000
Philippines
Location Type : Liaison
office
Sobrecarey Street, Bo. Obrero
Davao City 8000
Philippines
Location Type : Liaison
office
CURRENCY: All amounts in this report are in
local currency unless otherwise stated.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)