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MIRA
INFORM REPORT
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Report Date : |
15.03.2011 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIO VIDA (LABOVIDA) |
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Registered Office : |
Av. Juan Tanca Marengo, Manzana B, Solar
4, Cdla. Santa Adriana - |
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Country : |
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Year of Establishment : |
1997 |
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Legal Form : |
Stock Company |
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Line of Business : |
Manufacture of pharmaceutical products |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Dollars 135.000 |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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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 |
Name and address
LABORATORIO VIDA
(LABOVIDA)
Av. Juan Tanca Marengo, Manzana B, Solar 4, Cdla. Santa Adriana - Guayaquil
Guayas ECUADOR
Telephone :
593-2-2259602
Fax : 593-2-2259602
E_Mail : wendymelanye@hotmail.com
SUMMARY
Started
: 1997
Total Employees
: 100
Payments
: Prompt
Subscribed Capital
: US$ 10.000.-
Sic(s) : 2833
Line of Business
Manufacture of pharmaceutical products
Credit Recommendation
Dollars
Conservative value : 135.000
Liberal value
: 145.000
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 90 ]
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
TRADE
REFERENCES (11/03/2011)
Suppliers' trade references are supplied as follows:
Detail of References
Old
: Since 2004
Last purchase : 02-2011
Terms : 30-60 days
Payment : Prompt
Notes : checks
Credit : (US$) 20.000
Owes : Does not
Register
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly US$) 10.000
amount of the latest purchase USD 925,00
Old : Since
2007
Last purchase : 01-2011
Terms : 30 days
Payment : Prompt
Notes : checks
Credit : Open
Owes : Does not
Register
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Bi-monthly US$) 1.800
amount of the latest purchase USD 3.769,00
Detail
of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(US$) (US$)
--------------------------------------------------------------------------------
Since 2004 04-09 Prompt
checks
15.000 None
1 year 03-09 Prompt
checks
Open None
3 years 11-06 Prompt
checks
5.000 None
6 years 11-06 Prompt
checks
2.500 None
This company is part of the ''White listing'' of the Internal Revenue Service
(IRS). It means that tax obligations are promptly met.
Up to February 20, 2011, this company has NO delayed payments at IESS
(Ecuadorian Institute of Social Security)
Detail of Bank References
Qualifications of the Ecuadorian Financial system
A Normal Risk
B Potential Risk
C Poor Record
D Unsecured Collection
E Uncollectable debt
Bank
: Banco de Guayaquil S.A.
Qualification
: A
To
expire
: US$ 36.868,77
Bank
: Banco Internacional S.A.
Qualification
: A
To
expire
: US$ 30.720,44
Bank
: Banco Pichincha C.A.
Qualification
: A
To
expire
: US$ 5.249,98
Total debt up to January 2011 is US$ 72.839,19
Credit history
The lowest score obtained by Laboratorio Vida (Labovida) S.A. in the
National Financial System was "B" in February, 2010 because of a debt
with 2 delayed payments of USD 2.969,85 at Banco Pichincha C.A.
Maximum amount of indebtedness registered by the subject -, in the National
Financial System was US$ 196.256,62 in February, 2007
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2007 was US$ 163.434,23
During 2008 was US$ 118.486,91
During 2009 was US$ 90.304,22
During 2010 was US$ 95.783,80
During 2011 was US$ 72.839,19
Indebtedness with 2 months past due.
Date
amount in US$
May,
2008
12.514,71
Income tax corresponding to the last years:
Year 2009: USD 10.061
Year 2008: USD 11.545
Year 2007: USD 4.914
BANKS
The main banks are:
- Banco Amazonas S.A.
- Banco Bolivariano
- Banco de Guayaquil S.A.
- Banco Internacional S.A.
- Banco Pichincha
OPERATIONS (11/03/2011)
Line of Business : Manufacture of generic pharmaceutical products for human
use.
Economic activity registered at Internal Revenue Service
(IRS) is: MANUFACTURE OF PHARMACEUTICAL PRODUCTS FOR HUMAN
USE, THEY COULD BE GENERIC OR WITH A TRADE MARK. FOR
THE GENERAL PUBLIC OR RULED BY THE AUTHORITIES
Corporate purpose registered at Superintendency of
companies is: Development and exploitation of medical
pharmaceutical and surgical products.
Classification according to commercial activity:
Sic: 2833-0000 Medicinals and botanicals
Sales
Sales are steady throughout the year
70% wholesalers
30% retailers
National sales territory
Customers
Main customers are: Private hospitals, line of business' distributors.
drugstores, hospitals,
Purchases
Domestic and international purchases
Imports from
Main suppliers (11/03/2011)
- Crecicorp
- Ecoenvases C. Ltda.
- Ecuatoriana De Solventes S. A. Solvesa
- Latienvases
- Quifatex
- Resiquim S. A.
Employees: 100 employees
Location
- Administrative offices, and factory are located at Av. Juan Tanca
Marengo,
Manzana B, Solar 4, Cdla. Santa Adriana Guayaquil Guayas,
Branches (11/03/2011)
- Isla San Cristobal 1038 y Rio Coca
- The registered branch is a sales office located in
confirmed that there is another branch in
RELATED COMPANIES (11/03/2011)
Subject is related to the following companies:
- Distribuidora Aguilar S.A. Aguidasa T A X : 0991409416001
- Laboratorios Danivet S.A. T A X : 0991413839001
INSURANCES (11/03/2011)
Insurance Company:
-Hispana de Seguros
Risks : All
risks.
Objetive : Assets in general.
ADMINISTRATION
General Manager : Monica
Teodora Aviles
Executive President : Julio Alberto Aguilar
Maldonado TAX:0907998579001
Finances Manager : Karina
Guaman
General Manager : Wendy
Perez
Assistant
CURRICULUM
Monica Teodora Aviles Aviles
T A
X
: 0912081007001
Birth place : Ecuador
Position :
General Manager
Mercantile Register : Number 24801 of 19/12/2006
Simultaneously : She is legally registered at IRS
to carry out business by
his own account since June 27th of 2002. Her registered
economic activity is:
shops.No trade name
Julio Alberto Aguilar Maldonado
T A
X
: 0907998579001
Birth place : Ecuador
Position :
Executive President
Mercantile Register : Number 24861 of 19/12/2006
Previously : He was
legally registered at IRS to carry out personal
business since 15-12-1993 until 31-10-2004.. His
registered economic activity was: Commercial Service and
intermediation Activities. His trade name was Aguicon.
LEGAL INFORMATION (11/03/2011)
Legal Structure : Stock Company
Constitution date : 01/07/1997
Authorization : Resolution Nº 2953
Notary
: N° 7, Guayaquil Guayas
Term of duration : 50 Year, ended on 01/07/2047
Legal Address : Guayaquil - Ecuador
Published in : Official Gazette
dated 25/08/1997
Current Subscribed Capital: US$ 10.000.-Divided to 10.000.- common shares
unique
series amounting US$ 1.-
Subscribed & paid-in Initial Capital: US$ 4.000.-
Shareholders :
- 0907998579001 Julio Alberto Aguilar Maldonado
- 0912081007001 Monica Teodora Aviles Aviles
Legal representation is held by Executive President General Manager,.
Legal changes
By Resolution Nº 5875 on 01/07/2004, notary N° 1, Guayaquil Guayas, published
in
the Official Gazette dated 30/10/2004, last capital increase was performed
USD
6.000,00 of National Investment
Initial capital stock (constitution) in Sucres was S/ 100.000.000
Registered commercial name: Labovida S.A.
INFORMATION SOURCES
On 10/03/2011 Miss. Wendy Perez, General Manager Assistant, declined the
financial figures, however, submitted general 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
INTERPRETATION OF RISK LEVEL AND CREDIT RECOMMENDATION
Macroeconomic Information
Interest Rate
for the week
of
01/02/2011 - 28/02/2011
Ref. Active Rate
for Operations ( % ) 8,25
Ref. Passive Rate
for Operations ( % ) 4,51
Basic Rate of
Central Bank ( % )
Legal
( % ) 8,25
Maximum
conventional
( % ) 9,33
Inflation
Ratio
Monthly
Inflation
( % ) 0,51 Dec/2009
Accumulated
( % ) 3,33 Dec/2009
The information herein contained is confidential and exclusively
intended for
its addressee. Unauthorized use, copying and/or disclosure of
the information
contained in this transmission may
result in legal punishment.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.15 |
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1 |
Rs.72.59 |
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Euro |
1 |
Rs.62.95 |
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.