MIRA
INFORM REPORT
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Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
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Name : |
LINEXPRESS |
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Registered Office : |
A la altura del Km 11.5 Via A Daule, Parque Comercial California 1
Bloque 41C, |
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Country : |
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Date of Incorporation : |
28.10.2008 |
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Legal Form : |
Stock Company |
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Line of Business : |
Wholesale and
retail sale of pharmaceuticals and 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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Maximum Credit Limit : |
USD 28.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Identification
LINEXPRESS S.A.
A la altura del Km 11.5 Via A Daule, Parque Comercial California 1 Bloque 41C,
Local 8 y 9 - Guayaquil
Guayas
ECUADOR
Telephone : 593-4-6009039
E_Mail : imartinez@farmavet.com.ec
Web Site : www.linexpres.com
SUMMARY
Started : 2008
Payments : Prompt
Subscribed Capital
: US$ 25.000.-
Line of Business: The registered business activity in the Internal Revenue
Services (SRI) is: WHOLESALE AND RETAIL SALE OF
PHARMACEUTICALS AND MEDICINES
Credit Recommendation
Dollars
Conservative value : 28.000
Liberal value
: 33.000
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 70 ]
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
TRADE REFERENCES
Since all information on suppliers was declined, credit experiences could not
be
obtained
This company is part of the ''White listing'' of the Internal Revenue Service
(IRS). It means that tax obligations are promptly met.
Up to March 20, 2011, this company has NO delayed payments at IESS (Ecuadorian
Institute of Social Security)
Detail of Bank References
Qualifications of the Ecuadorian Financial system
A Normal Risk
B Potential Risk
C Poor Record
D Unsecured Collection
E Uncollectable debt
The lowest qualification registered by Linexpress S.A. in the National
Financial System is (A)
Bank
: Banco de Guayaquil S.A.
Qualification
: A
To expire
: US$ 21.215,79
Total debt up to March 2011 is US$ 21.215,79
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2011 was US$ 12.631,37
Income tax corresponding to the last years:
Year 2009: USD 2.572
Year 2008: USD 0
BANKS
The main bank is:
- Banco de
OPERATIONS
Line of Business : The line of business registered at the Internal Revenue
Services(IRS) is: WHOLESALE AND RETAIL SALE OF
PHARMACEUTICALS AND MEDICINES.
Social objective registered at the Superintendency of
Companies is: Agricultural activity
Employees: Number of employees unknown
Location
- The administrative offices are located at A la altura del Km 11.5 Via A
Daule, Parqe Comercial California 1 Bloque 41C, Local 8 y 9
Guayaquil Guayas,
Ecuador
Branches
Subject does not have any branch
RELATED COMPANIES
Subject is related with the following company:
- Farmavet Farmacos Veterinarios C.Ltda. T A X : 0991063269001 Guayaquil
Guayas
- Chemical Pharm Del Ecuador C. Ltda T A X : 0991291040001 Guayaquil
Guayas
- Farmavicola S.A. T A X : 0992462663001 Guayaquil Guayas
INSURANCES
Insurance details were declined.
ADMINISTRATION
General
Manager : Iralda Karola
Zambrano
CURRICULUM
Iralda Karola Zambrano
Position :
General Manager
Mercantile Register : Number 715 of 14/01/2009
LEGAL INFORMATION
Legal Structure : Stock Company
Constitution date : 28/10/2008
Authorization : Resolution Nº 7156
Notary
: N° 21, Guayaquil Guayas
Term of duration : 50 Year, ended on 28/10/2058
Legal Address : Guayaquil - Ecuador
Published in : Official Gazette
dated 24/10/2008
Current Subscribed Capital: US$ 25.000.-Divided to 25.000.- common shares
unique
series amounting US$ 1.-
Subscribed Initial Capital: US$ 800.-
Paid-in Initial Capital: US$ 200.-
Legal representation is held by General Manager.
Legal changes
By Resolution Nº 3794 on 03/07/2009, notary N° 26, Guayaquil Guayas, published
in the Official Gazette dated 14/07/2009, capital was increased: Amounting US$
24.200,00
This Company belongs to the Pharmaceutical Companies Group headed by Farmavet.
INFORMATION SOURCES
On 19/04/2011 Miss. Iralda Karola Zambrano Martinez, General Manager,
declined
all kind of information,
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
CREDIT RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually used
in
the commercial credit evaluation.
The amounts are based on the assignment of risk percentages to the following
indicators: Trade references, number of employees, legal structures, data base
of protested bills, operations, insurances, variation of net profit, net worth,
working capital and liquidity.
INTERPRETATION OF PAYMENT SCORING
The Scoring is arranged as follows: 0 to 40 Delays, 41 to 60 Slow, 61 to 80
Moderate, 81 to 100 Prompt
Macroeconomic Information
Interest Rate for the week
of 01/03/2011 - 31/03/2011
Ref. Active Rate for
Operations (
% ) 8,65
Ref. Passive Rate for
Operations ( %
) 4,59
Basic Rate of Central
Bank ( % )
Legal
( % ) 8,65
Maximum
conventional
( % ) 9,33
Inflation
Ratio
Monthly
Inflation
( % ) 0,55 Feb/2011
Accumulated
( % ) 1,24 Jan/2011
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.59 |
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1 |
Rs.73.44 |
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Euro |
1 |
Rs.64.81 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.