MIRA INFORM REPORT

 

 

Report Date :           

20.05.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

NOVAMED SA (FARMACAPSULAS)

 

 

Registered Office :

Calle 79b N°78-21 Barranquilla 52486 Colombia

 

 

Country :

Colombia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

17.04.1990

 

 

Legal Form :

Sociedad Anonima

 

 

Line of Business :

Farmaceutical Manufacturer

 

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 250,000.

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Colombia

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

 

GEOPOLITICS - COLOMBIA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Low

Currency: 100 COP =

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Novamed S A

Address in the order:

C. I. Farmacapsulas S.A.

Calle 79B, No 78C-21, Barranquilla

 

 

Legal Name:

NOVAMED SA (Farmacapsulas)

Trade Name:

Farmacapsulas

Legal Address

CALLE 79B N°78-21 BARRANQUILLA 52486 Colombia

Operative Address

CALLE 79B N°78-21 BARRANQUILLA 52486 Colombia

Telephone:

57-53304100

NIT :

800093391         

Fax:

57-53304197

Legal Form:

Sociedad Anonima

Email:

GLENAO@FARMACAPSULAS.COM

Registered in:

Colombia

Website:

http://www.farmacapsulas.com

Date Created:

April 17th 1990

Manager:

SAUL GILINSKI GROSMAN President

Date Incorporated:

April 17th 1990

Staff:

135

Stock:

NA

 

 

Value:

NA

Activity:

Farmaceutical manufacturer

 

 

BANKS

 

Name of the Bank

Bancolombia

                                                                                                           

 

BUSINESS

 

HISTORY

 

The company was established in the year 1990

PRINCIPAL ACTIVITY

 

The company engages in the manufacture of pharmaceutical capsules.

Products/Services description:

 

Vegetable capsules

Gelatin capsules

 

Sales are:

 

Wholesale

Brands:

 

FARMACAPSULAS

Clients:

 

Various Laboratories

Operations area:

 

National, International, Local

The company imports from Worldwide upon demand

The company export to Worldwide upon demand

Trade References:

 

The person contacted refused to provide the names of their suppliers on grounds of confidentiality

The subject employs 135 employee(s)

PAYMENTS

 

made on a 58 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at CALLE 79B N°78-21 BARRANQUILLA 52486 COLOMBIA

The property is:

 

Owned

Branches:

 

There were no branches found for this company.



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This company is privately held and has the members of the GILINSKI family as the main shareholders.

Management:

 

SAUL GILINSKI GROSMAN President

FLORETTE MENDAL DE GILINSKI Vice President

GLORIA EUGENIA HENAO JINETE Legal representative

LUIS ALBERTO LEDESMA ANGULO Financial Comptroller

ALBERTO ENRIQUE BARRAZA REYES Comptroller

GABRIEL MERCADO BELTRAN Accountant

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

 

However, lease find attached the financial statements that were published at the Superintendencia de Sociedades (main figures for 2010 translated below). Figures in the attached doc are in thousands of COP.

 

 

Currency

DATE

COP

2010

Turnover

32,234,495,000

Operating Income

4,765,680,000

Net Income

1,839,576,000

Current Assets

17,984,446,000

Fixed Assets

1,206,355,000

Net worth

8,493,900,000

Bank liabilities

3,445,053,000

The cash flow is

Normal

 


Legal Fillings

 The sources consulted record no detrimental legal or labor court information.



Rating

 

Local credit bureau gave a Correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

This company has been in business for 21 years, it has a staff of 135 employees which makes it a medium sized company. There were no significant legal filings found against the company or its legal representatives.

 

The turn over is correct, the cash flow is normal and the bank debt controlled.

 

A credit line may be considered for USD 250,000.





SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 



APPENDIX

 

Comments

 

We called the company several times and were always transferred to answering machines.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.98

UK Pound

1

Rs.72.68

Euro

1

Rs.64.16

 

 

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.