MIRA INFORM
REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
SINBIOTIK
INTERNACIONAL S.A. DE C.V. |
|
|
|
|
Registered Office : |
Niño Flavio Zavala 7,
Col. San Jerónimo Tepetlacalco |
|
|
|
|
Country : |
Maxico |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
08.08.1990 |
|
|
|
|
Com. Reg. No.: |
Notarial Act 36,286 |
|
|
|
|
Legal Form : |
Stock Company of Variable Capital |
|
|
|
|
Line of Business : |
Distribution of Raw Material for the Pharmaceutical Industry. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD$100,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Regular |
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
México |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION
|
CORRECT COMPANY
NAME |
: |
SINBIOTIK INTERNACIONAL
S.A. DE C.V. |
|
TRADE NAME |
: |
"SINBIOTIK" |
|
TAXPAYER
REGISTRATION |
: |
RFC SIN-900808-311 |
|
MAIN ADDRESS |
: |
Niño Flavio Zavala 7,
Col. San Jerónimo Tepetlacalco |
|
CITY |
: |
|
|
DEPARTMENT/STATE |
: |
México |
|
COUNTRY |
: |
|
|
TELEPHONE |
: |
53977251 |
|
FAX |
: |
53979547 |
|
WEB SITE |
: |
COMMENTS
Toll Free Call: 01800-5091751
SUMMARY
INCORPORATION : 1990
LAST CAPITAL : Ps$5,500,000.= Pesos
SALES : 414,245,812.03
EMPLOYEES : 88
PAYMENTS : Usually to
terms/good
CHIEF EXECUTIVE : RAYEK ZACAL, SALOMON
DISPOSITION : TOTAL (Full information and figures).
LEGAL BACKGROUNDS
|
LEGAL ESTATUS |
: |
Stock Company of Variable Capital |
|
DATE OF
INCORPORATION |
: |
08AUG1990 |
|
START OF
OPERATIONS |
: |
N/A |
|
REGISTERED IN |
: |
Tlalnepantla/State of |
|
NOTARY OFFICE |
: |
No.5 - Alfonso Zermeño Infante |
|
DURATION |
: |
99 years |
|
REGISTRATION |
: |
Notarial Act 36,286 |
|
INITIAL CAPITAL |
: |
Ps$10,000,000.= Pesos (old Pesos) |
|
CURRENT PAID-IN
CAPITAL |
: |
Ps$5,500,000.= Pesos |
|
LAST CAPITAL
INCREASE |
: |
31/12/2010 |
|
SHAREHOLDERS'
EQUITY |
: |
N/A |
|
TYPE OF SHARES |
: |
Registered |
|
LISTED AT STOCK EXCHANGE |
: |
No |
|
SHARE VALUE |
: |
Ps$1.= Peso |
|
CURRENT EXCHANGE
RATE |
: |
Ps$12.06 per USD1.00 |
|
MEMBERSHIP |
: |
CAMARA MEXICO ISRAELI DE
COMERCIO E INDUSTRIA A.C., CEDECAN |
COMMENTS
The Company was entered in the Public Registry of Commerce under Entry
103, Volume 20, Book of Commerce I.
Shareholders structure was not specified.
It is a member of the Mexican-Israeli Chamber of Commerce and Industry
and
HYSTORY
Sinbiotik was founded in 1975 by a group of Mexican entrepreneurs, who
sought to supply the Mexican pharmaceutical companies to local manufacture
active pharmaceutical ingredients, supported by high quality products and
competitive prices.
In 1990 they founded Sinbiotik Internacional, which started its
operations by distribution of Active Pharmaceutical ingredients from different
manufactures around the world.
In 1992 they began the first process re-engineering to manufacture plant
PHENYTOIN, likewise, incorporated the benzyl and benzoin to the range of
products manufactured by their plant, initially these products were only
produced for own consumption and subsequently become the major export product
of the plant, with its first sales to the United States.
A new century (2000) brings new releases and this year was no exception
crystallizing a new product Metroprolol Tartrate and in 2006 Bezafibrate was launched as a new
domestically manufactured product.
In 2007 METOPROROL SUCCINATE was incorporated to the
Company product range.
Year 2008 was a year of great achievements for the institution as it was
awarded the ISO 9001:2000 certificate, an achievement which in turn has been a
driver of major changes in the company today faces new challenges in the
process of constant growth.
In 2009 major organizational changes and large investments in
infrastructure took place, coupled with these important achievements such as
obtaining the certificate of GMP by the Minister of Health in Mexico
(COFEPRIS).
DIRECTORS / EXECUTIVES /
SHAREHOLDERS
|
FULL NAMES / COMPANY NAME |
TITLE |
|
RAYEK ZACAL, SALOMON |
General Director |
|
MORALES CORTEZ, MANUEL |
Adm. & Finance Manager |
|
MORALES MORALES, |
Logist.& Dist.Coordinator |
|
MALDONADO VALDES, MARIA
DE JESUS |
Purchase Officer |
WHO IS WHO ?
RAYEK ZACAL, SALOMON
NATIONALITY :
Mexican
BORN :
08APR1966
TAX ID :
RASS660408DP0
PROFESSION :
Engineer
CIVIL STATUS :
Married
MORALES CORTEZ, MANUEL
NATIONALITY :
Mexican
PROFESSION :
Certified
Public Accountant
MORALES MORALES,
NATIONALITY :
Mexican
PROFESSION :
Licentiate
MALDONADO VALDES, MARIA DE JESUS
NATIONALITY :
Mexican
PROFESSION :
Licentiate
RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
AX. REG. |
RELATION |
|
SINBIOTIK S.A. DE C.V. |
|
SIN-750319-159 |
Related |
BUSINESS
MAIN ACTIVITY .-
SINBIOTIK is engaged in the distribution of raw material for the
pharmaceutical industry.
Trademark: SINBIOTIK
IMPORT :
Yes
EXPORT :
Yes
|
% CASH SALES/METHOD |
: |
10% |
|
% CREDIT SALES/TERMS |
: |
90% - at 30, 60 days |
|
% FOREIGN SALES (COUNTRIES) |
: |
02% |
|
% DOMESTIC PURCHASES |
: |
15% |
|
% FOREIGN PURCHASES |
: |
The Company was entered in the Public Registry of Commerce under Entry
103, Volume 20, Book of Commerce I. Shareholders structure was not
specified. It is a member of the
Mexican-Israeli Chamber of Commerce and Industry and |
|
SELLING TERRITORY |
: |
Domestic market - 98% |
|
EMPLOYEES |
: |
88 |
LOCATION
|
Premises |
: |
N/A |
|
Monthly Amount |
: |
N/A |
|
Time Occupied |
: |
N/A |
|
Area |
: |
10,000 sqm. |
|
Floors |
: |
1 |
Remarks and other Premises .-
Headquarters and facilities operate at the above address. Premises are
shared with the related company Sinbiotik S.A. de C.V.
Those facilities are owned by INMOBILIARIA MOR S.A. DE C.V. They are
located between Prolongación Niño Flavio Zavala and Presidente Juárez, industrial area of the city.
The Company has no other premises.
COMMENTS
The Company does not have a payroll of its own, its related company -
Sinbiotik S.A. de C.V. provides personnel service. There are about 120 workers.
Main Clients:
- COMPAÑIAS EL FUERTE S.A. DE C.V.
- COMERCIALIZADORA VIRBAC
S.A. DE C.V.
- FARKCORP S.A. DE C.V.
-
- BIORESEARCH DE MEXICO
S.A. DE C.V.
- PHARMADAN S. DE RL. DE
C.V.
- AVEPSA S.A. DE C.V.
- GELCAPS EXPORTADORA DE
MEXICO S.A. DE C.V.
- GAJIMSA CORPORATIVO S.A.
DE C.V.
Clients abroad:
- ACETO CORPORATION (United States)
- LABORATORIOS BEHRENS
(Venezuela)
- NICROM QUIMICA LTDA. (
SINBIOTIK INTERNACIONAL S.A. DE C.V. distributes products from best
world manufacturers which has allowed it to reach market with cutting-edge
products for pharmaceutical and veterinary use.
SINBIOTIK has been ISO 9001: 2000 certified.
FINANCIAL INFORMATION
|
Interviewee(s) |
: |
Manuel Morales Cortéz |
|
Position(s) |
: |
General Accountant |
|
Cooperation |
: |
TOTAL (Full information and figures). |
|
Information Provided |
: |
Mr. Morales provided all the information contained in this report,
including main accounts of the Balance Sheet for the Fiscal Year ended as of
December 31, 2010, expressed in Pesos as follows: |
BALANCE SHEET
|
BALANCE
SHEET DATE |
31DEC2010 |
|
PERIOD |
12 months |
|
EXCHANGE RATE PER US$ |
12.36 |
|
CURRENCY |
Pesos |
|
ASSETS |
|
|
TOTAL CURRENT |
205,780,329.46 |
|
FIXED |
9,400,307.59 |
|
OTHERS |
563,371.56 |
|
TOTAL ASSETS |
215,744,008.61 |
|
LIABILITIES |
|
|
TOTAL CURRENT |
83,228,564.86 |
|
SHAREHOLDERS' EQUITY |
|
|
TOTAL EQUITY |
132,515,443.75 |
|
TOTAL LIABILITIES |
215,744,008.61 |
|
SALES |
414,245,812.03 |
|
PROFIT(LOSS) |
14,516,268.13 |
RATIO
|
LIQUIDITY RATIO |
2.47 |
(Current Assets/Current Liabilities) |
|
DEBT-TO-EQUITY RATIO |
159.22 |
(Shareholders's equity/Current Liabilities %) |
|
PROFITABILITY MARGIN |
3.50 |
(Profits/Sales %) |
|
WORKING CAPITAL |
122,551,764.60 |
(Current Assets - Current Liabilities) |
FINANCIAL SITUATION
Active
Financial standing is deemed to be satisfactory as liquidity exceeds the
average ratio. Working capital is positive
and allows payments to be made in a good order. Debt-to-equity ratio is
acceptable. Final results have been favorable.
PROPERTY OF THE COMPANY
They include:
- Machinery and equipment (*)
- Cooling equipment
- Lab equipment (*)
- Cooling equipment (*)
- Computers
- Office furniture and fixtures
- Vehicles
INSURANCE
|
Company |
Againts |
Amount |
Expiration |
|
AXA SEGUROS S.A. DE C.V. |
N/A |
N/A |
N/A |
PAYMENTS RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms(days) |
Perfomance? |
Time |
Products/Services |
|
PURAC MEXICO S. DE R.L.
DE C.V. |
|
(55) 90004844 |
N/A |
Ps$ 500,000.= |
45 days |
Delinquent |
Sv.years |
Raw material |
|
INDUSTRIAS QUIMICAS
FALCON DE MEXICO SA DE CV |
|
(777) 3293400 |
N/A |
Ps$ 300,000.= |
30 days |
Prompt |
Sv.years |
Chemicals |
NOTE: Other Suppliers did not provide information or could not be
consulted.
|
Supplier |
Country |
Tel. |
|
ABC INSTRUMENTACION
ANALITICA S.A. DE C.V. |
|
(55) 30983970 |
|
CMC DISTRIBUIDORA DE
CONSUMIBLES S.A DE C.V. |
|
55) 85966005 |
|
ALBEMARLE CORPORATION |
|
N/A |
|
AUROBINDO PHARMA LIMITED |
|
N/A |
|
DR. REDDY'S LABORATORIES |
|
N/A |
|
|
|
N/A |
|
FERRO IM UND EXPORT GMBH |
|
N/A |
BANKING INFORMATION
BANKERS
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
BANCO |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO NACIONAL DE MEXICO
SA |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BBVA BANCOMER S.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO UNION S.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
The above banks were unwilling to give information about their client
due to internal policy.
CREDIT OPINION
Consulted Credit Amount : Maximum Credit
The Company may be granted a credit limit amounting to USD$100,000.= Dollars.
NOTE: The Opinion given is confidential referential and with out
liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
---- |
NB |
New Company |
---- |
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.