MIRA INFORM REPORT

 

 

Report Date :           

18.05.2011

 

IDENTIFICATION DETAILS

 

Name :

INDUSTRIAS QUIMICO FARMACEUTICAS AMERICANAS S.A. DE C.V.

 

 

Registered Office :

Lago Peypus 215, Col. Anahuac, Deleg. Miguel Hidalgo, México DF, Distrito Federal

 

 

Country :

Mexico

 

 

Date of Incorporation :

15.09.1939

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

production and sale of pharmaceutical products, such as analgesics, anti-inflammatories, antibiotics, vitamins, etc.

 

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

 

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Mexico

A2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

IDENTIFICATION                                                                                                                                 

 

CORRECT COMPANY NAME

:

INDUSTRIAS QUIMICO FARMACEUTICAS AMERICANAS S.A. DE C.V.

TRADE NAME

:

N/A"

TAXPAYER REGISTRATION

:

RFC IQF-390915-327

MAIN ADDRESS

:

Lago Peypus 215, Col. Anahuac, Deleg. Miguel Hidalgo

CITY

:

México DF

DEPARTMENT/STATE

:

Distrito Federal

COUNTRY

:

MEXICO

TELEPHONE

:

91720720 - 31

FAX

:

52030286

WEB SITE

:

www.iqfa.com

 

COMMENTS .-

Subject's head offices are located on the above-mentioned address.

 

Regarding the address given in your order: Lago Transimeno 36, Col. Anahuac, Deleg. Miguel Hilando, México D.F. CP 11320, it is of other premises of the company.

 

 

SUMMARY

 

FOUNDATION               : 1939

LAST CAPITAL            : Ps$17,450,000.= Pesos

SALES                         : 0.00

EMPLOYEES               : 300

PAYMENTS                  :  Usually to terms/good

CHIEF EXECUTIVE       : MENDOZA PEREZ, JOSE LUIS

DISPOSITION                : Report prepared through third-party sources.

 

 

LEGAL BACKGROUNDS                                                                                                                                 

 

LEGAL ESTATUS

:

Stock Company of Variable Capital

DATE OF INCORPORATION

:

15SEP1939

START OF OPERATIONS

:

N/A

REGISTERED IN

:

Mexico DF

NOTARY OFFICE

:

N/A

DURATION

:

99 years

REGISTRATION

:

N/A

INITIAL CAPITAL

:

N/A

CURRENT PAID-IN CAPITAL

:

Ps$17,450,000.= Pesos

LAST CAPITAL INCREASE

:

31/11/2005

SHAREHOLDERS' EQUITY

:

N/A

TYPE OF SHARES

:

Registered

LISTED AT STOCK EXCHANGE

:

No

SHARE VALUE

:

Ps$1.= Peso

CURRENT EXCHANGE RATE

:

Ps$11.55 per US$1.= Dollar

MEMBERSHIP

:

N/A

 

COMMENTS .-

Subject was incorporated on 15/09/1939 under the corporate name INDUSTRIAS QUIMICO FARMACEUTICAS AMERICANAS S.A.

 

In 1994, subject changed its legal status to Open-End Stock Corporation and adopted the current corporate name INDUSTRIAS QUIMICO FARMACEUTICAS AMERICANAS S.A. DE C.V.

 

It was not obtained any information on subject's shareholding structure. Subject did not provide any information on this matter.

 

 

DIRECTORS / EXECUTIVES / SHAREHOLDERS                                                                                                                                 

 

FULL NAMES / COMPANY NAME

TITLE

MENDOZA PEREZ, JOSE LUIS

General Manager

ROMAN, BRUNO

Zone 1 Sales Manager

NACER, MIGUEL ANGEL

Zone 2 Sales Manager

LOPEZ AYALA, RICARDO

Plant Manager

CORONA, JULIAN

Human Resources Manager

IBARRA, SERGIO

Accountant

 

 

WHO IS WHO?                                                                                                                                  

 

MENDOZA PEREZ, JOSE LUIS

NATIONALITY                           : Mexican

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER                                                                                                                                  

 

BUSINESS                                                                                                                                 

MAIN ACTIVITY .-

Subject is engaged in production and sale of pharmaceutical products, such as analgesics, anti-inflammatories, antibiotics, vitamins, etc.

IMPORT            : No

EXPORT           : Yes

                        (To Costa Rica, Venezuela, Peru; payments on cash)

% CASH SALES/METHOD

:

N/A

% CREDIT SALES/TERMS

:

100% (30-day terms)

% FOREIGN SALES (COUNTRIES)

:

01%

% DOMESTIC PURCHASES

:

100%

% FOREIGN PURCHASES

:

Subject was incorporated on 15/09/1939 under the corporate name INDUSTRIAS QUIMICO FARMACEUTICAS AMERICANAS S.A.  In 1994, subject changed its legal status to Open-End Stock Corporation and adopted the current corporate name INDUSTRIAS QUIMICO FARMACEUTICAS AMERICANAS S.A. DE C.V.  It was not obtained any information on subject's shareholding structure. Subject did not provide any information on this matter.

SELLING TERRITORY

:

Domestic and international market

EMPLOYEES

:

300

 

 

LOCATION .-

Premises

:

Own

Monthly Amount

:

N/A

Time Occupied

:

11 years

Area

:

400 m2

Floors

:

2

 

Remarks and other Premises .-

The above-mentioned premises are located between streets Lago Bolsena and Laguna en Términos.

Subject was formerly located on Pococatepelt No.167,Colonia Portales, Delegación Benito Juarez, Mexico DF, State of Mexico CP 03300.

 

Plant: Circuito Cerrillo II, Manzana 1, Lote 17, Parque Industrial Lerma, Lerma, State of Mexico, CP 52000. Telefax: (52728) 2853212/2853240. Area: 1,200 m2.

 

Other premises: Lago Transimeno 36, Col. Anahuac, Deleg. Miguel Hilando, Mexico DF, CP 11320.

 

COMMENTS .-

Subject's main customers include:

- Farmacias El Fénix S.A. de C.V.

- Farmacias de Genéricos S.A. de C.V.

- Droguería El Fénix del Norte S.A. de CV.

- Farmacias de Vanguardi S.A de C.V.

- Farmacias El Fénix del Pacífico S.A. de C.V.

 

Additionally, it supplies products to the public sector.

 

 

FINANCIAL INFORMATION                                                                                                                                 

 

Interviewee(s)

:

N/A

Position(s)

:

N/A

Cooperation

:

Report prepared through third-party sources.

Information Provided

:

It should be mentioned that this company's responsible directors categorically refused to provide any information. Therefore, this report was developed with information that was collected from indirect sources (public sources, own archives, etc.), where it was not possible to obtain any updated financial figures.  It should be emphasized that at present Mexico is living in an atmosphere of violencia and crime, which causes scarce cooperation from officials to attend to our representatives during investigation, requiring in most cases to disclose name of the interested source.

 

FINANCIAL SITUATION             :           UNDETERMINED

This company's Financial Situation is deemed to be Undetermined because it was not found any financial information to assess its results.

 

However, it shoud be mentioned that subject is an old company that started operating in 1939. It was not found any adverse on commercial problems that may affect subject's general rating.

 

PROPERTY OF THE COMPANY .-

Subject's assets include:

- Machinery and equipment

- Office furniture and equipment

- Plots of land

- Vehicles

- Computer equipment

- Building

 

INSURANCE .-

Company

Againts

Amount

Expiration

GRUPO NACIONAL PROVINCIAL SA DE CV

N/A

N/A

N/A

 

 

PAYMENTS RECORD                                                                                                                                  

 

TRADE REFERENCES .-

Supplier

Country

Tel.

Line of Credit

Monthly Average

Terms(days)

Perfomance?

Time

Products/Services

Nutrer SA de CV

MEXICO

(52.55) 21220400

Ps$ 2,500,000.=

Ps$ 100,000.=

Check/90 days

Prompt

2002

Raw material

 

NOTE: Other Suppliers did not provide information or could not be consulted.

Supplier

Country

Tel.

Pronaquim SA de CV

MEXICO

(52.55) 54211552

Megafarma SA de CV

MEXICO

(52.55) 58999010

 

 

CREDIT HISTORY .-

Other consulted suppliers did not reply to our request for references.

 

 

BANKING INFORMATION                                                                                                                                  

 

BANKERS .-

Bank

Contact

Telephone

Account #

DC (S/.)

FC (US$)

 MERCANTIL DEL NORTE SA

N/A

N/A

N/A

N/A

N/A

SCOTIABANK INVERLAT SA

N/A

N/A

N/A

N/A

N/A

HSBC MEXICO SA

N/A

N/A

N/A

N/A

N/A

Subject carries out its financial operations through the above-mentioned entities, which did not provide any information on handling of subject's accounts under the bank secrecy act.

 

 

CREDIT OPINION                                                                                                                                  

 

Requested Credit Rating :         Credit limit

NOTE: The Opinion given is confidential referential and with out liability

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.07

UK Pound

1

Rs.63.57

Euro

1

Rs.72.97

 

 

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 Business

----

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.