MIRA INFORM REPORT
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Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
QUIMICA ARISTON DEL ECUADOR COMPAŅIA
LIMITADA |
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Registered Office : |
Joaquín Mancheno OE1 - 255 y Francisco García, a la
altura del Km 6 1/2, Panamericana Norte, Sector de Carcelen Quito, Pichincha |
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Country : |
Ecuador |
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Date of Incorporation : |
14.06.1972 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacture of pharmaceutical products for human consumption |
RATING & COMMENTS
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MIRAs 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 : |
700.000 dollars |
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Status : |
Moderate |
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Payment
Behaviour : |
Slow |
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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 September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Ecuador |
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
QUIMICA ARISTON DEL ECUADOR COMPAŅIA LIMITADA
Joaquín Mancheno OE1 - 255 y Francisco García, a la
altura del Km 6 1/2
Panamericana Norte, Sector de Carcelen -
Quito
Pichincha
ECUADOR
Telephone : 593-2-2470984,
593-7-2835262, 593-7-2824018, 593-5-2610372
Fax : 593-2-2470983
E_Mail : ivela@qariston.com
Web Site
: www.quimicaariston.com
SUMMARY
Started
: 1972
Total Employees :
250
Payments : Slow
Subscribed Capital :
US$ 1.200.000.-
Sic(s) : 2834 - 5122
Line of Business: Manufacture of pharmaceutical products for human consumption.-
Credit Recommendation
Dollars
Conservative value
: 700.000
Liberal value
: 740.000
If additional information is received or present information is rectified, this
recommendation may be modified.
Payment Scoring = [ 80 ]
Financial indicators
As updated financial statements could not be obtained, the company's financial
situation cannot be determined
The amount of sales in 2006 was USD. 7.312.463,17
TRADE
REFERENCES
Other suppliers denied to bring
references trade
Detail of References
Old : 7 years
Last purchase : 08-2011
Terms : 45 days
Payment : Prompt
Notes : checks
Credit : (US$) 5.000
Owes : (US$) 2.000
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly US$) 2.000
Last purchase $ 1,700
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(US$) (US$)
--------------------------------------------------------------------------------
Since 2004 05-11 Prompt
checks
Open None
Since 1996 01-07 Prompt
checks
1.000
-
This company is NOT part of the ''White Listing'' of the Internal Revenue
Service (IRS). It means that pending tax obligations should be settled up
in
the next months 3 months
Taxpayer status
: Special
Up to July 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 Amazonas S.A.
Qualification
: A
To
expire
: US$ 35.072,52
Bank
: Banco Bolivariano C.A.
Qualification
: A
To
expire
: US$ 1.215.277,89
Bank
: Banco Pichincha C.A.
Qualification
: A
To
expire
: US$ 17.251,80
Bank
: Diners Club del Ecuador S.A. Sociedad Financiera
Qualification
: B
Credit
Card
: International Credit Card
To
expire
: US$ 46.756,03
Total debt up to September 2011 is US$ 1.314.358,24
The lowest score recorded by Quimica Ariston
Del Ecuador Company Limited in Financial System is "B" in September
2011 with Diners Club Del Ecuador SA Finance Corporation.
Average amount of indebtedness registered by the subject, in the National
Financial System:
During 2011 was US$ 1.188.738,13
During 2010 was US$ 900.413,81
Income tax corresponding to the last years:
Year 2010: USD 52.520
Year 2009: USD 55.725
Year 2008: USD 134.007
BANKS
The main banks are:
- Banco Amazonas S.A.
- Banco Bolivariano C.A.
- Banco De La Produccion S.A.
- Banco Internacional S.A.
- Banco Pichincha C.A.
OPERATIONS
Line of Business : Manufacture & Import of pharmaceutical products for
human
consumption.-
The economic activity registered in the IRS is:
MANUFACTURE OF PHARMACEUTICAL PRODUCTS FOR HUMAN CONSUMPTION,
REGISTERED MARK OR GENERICS, SALE TO PUBLIC IN GENERAL.
The social objective registered in the Superintendency
of Companies is: Import, manufacture, sale and distribution
of chemical, pharmaceutical, cosmetic and veterinarian
products, in national and internacional market.
Classification according to commercial activity:
Sic: 2834-0000 Pharmaceutical preparations
Sic: 5122-0000 Drugs, proprietaries, and sundries
-0308 Pharmaceuticals
Sales
Sales are steady throughout the year
National and international sales territory
Exports to Panama.
According to the person we interviewed, the average monthly sales average is
USD. 1.200.000,00
Customers
Main customers are: Line of business' distributors, drugstores.
The 3 most important customers are:
Instituto Ecuatoriano de Seguridad Social Direccion General Quito, Junta De
Beneficencia De Guayaquil, Ministerio de Salud Publica.
Purchases
Domestic and international purchases
Imports from Italy, England, Germany, Colombia, United States, India
Main suppliers
- Disan Ecuador S.A.
- Induauto Sa
- Interoc S.A.
- Linexpress S.A.
- Quifatex S.A.
- Resimon S.A.
Employees: 250 employees approx.
According to the last report made in May 2011, this company had 250
employees; today the number is unknown as this time refused to provide any
information.
Location
- Administrative offices are located at Joaquín Mancheno OE1 - 255 y Francisco
García, a la altura del Km 6 1/2 Panamericana Norte, Sector de Carcelen Quito
Pichincha, Ecuador
Branches
- Belisario Andrade S/N Y Miguel Moreno Cuenca Azuay Ecuador
- Pasaje Cormoran 119 y Pasaje Charles Darwin,
Ciudadela Albatros Guayaquil
Guayas Ecuador
- Calle 28 #208 y Av. Flavio Reyes Borrio Umiņa Manta
Manabí Ecuador
RELATED COMPANIES
Subject does not have any related company.
INSURANCES
Insurance Company:
-Panamericana del
Ecuador S. A. Compaņia de Seguros y Reaseguros
ADMINISTRATION
General Manager : Roberto
Carlos Enrique Hahn Klinge TAX:1707454698001
Executive President : Rodolfo Alfredo Gerardo
Hahn Klinge TAX:354139
Finances Manager : Elizabeth
Hahn
Imports'supervisor
: Vette Vela
Sales Manager
: Cid Barreto
Accountant
: Oscar Chiriboga
CURRICULUM
Roberto Carlos Enrique Hahn Klinge
T A
X
: 1707454698001
Civil status : Divorced
Birth date : 20/09/1953
-Germany
Position :
General Manager
Mercantile Register : Number 8688 of 28/07/2009
Simultaneously : Legally registered in the IRS to
carry out businesses by
his own account, since Feb 28, 2002. His economic
activity registered is: Activities in private area, as
employee. No commercial name
Curriculum : Age: 57
years.
Rodolfo Alfredo Gerardo Hahn Klinge
T A
X
: 354139
Birth place : Germany
Position : Executive President
Mercantile Register : Number 8412
of 29/08/2006
LEGAL INFORMATION
Legal Structure : Limited Liability Partnership
Constitution date : 14/06/1972
Authorization : Resolution Nš 498
Notary : N° 16, Quito Pichincha
Term of duration : 50 Year, ended on 14/06/2022
Legal Address : Quito - Ecuador
Published in : Official Gazette
dated 13/02/2006
Current Subscribed Capital: US$ 1.200.000.-contributions US$ 1.000.-
Subscribed Initial Capital: US$ 2.-
Legal representation is held by General Manager.
Legal changes
By Resolution Nš 498 on 08/02/2006, notary N° 16, Quito Pichincha, published in
the Official Gazette dated 03/02/2006, capital was increased: USD 370.000,00 of
nacional investment.
By Resolution Nš 2691 on 17/07/2008, notary N° 16, Quito Pichincha, published
in
the Official Gazette dated 22/07/2008, capital was increased: by USD 330.000,00
of national invesmet and
Foreign investment.
By Resolution Nš 3257 on 09/08/2010, notary N° 31, Quito Pichincha, published
in
the Official Gazette dated 16/08/2010, capital was increased: By USD.
300.000,00
Initial capital in Sucres was
S/ 50.000
Registered Trade Name: Quimica Ariston
Del Ecuador Cia. Ltda.
Subject was founded by Dr. Rodolfo Hahn, son of Dr. Alfredo Hahn who was the
founder of Química Ariston
Argentina in 1950.
INFORMATION SOURCES
On 08/11/2011 Miss. Elizabeth Hahn, Finances Manager, declined all kind of
information.
-Other outside information sources.
Exchange rate
-Since September 9th, 2000, official currency in Ecuador
is the US$ dollar
-Until then, the currency was the sucre.
Exchange rate was s/. 25.000 X US$ 1.00
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 01/08/2011 - 31/08/2011
Ref. Active Rate for Operations ( % ) 8,37
Ref. Passive Rate for Operations ( % ) 4,58
Basic Rate of Central Bank ( % )
Legal ( % ) 8,37
Maximum conventional ( % ) 9,33
Inflation Ratio
Monthly Inflation ( % ) 0,18 Jul/2011
Accumulated ( % ) 2,99 Jan/2011
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.28 |
|
UK Pound |
1 |
Rs.80.08 |
|
Euro |
1 |
Rs.68.45 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 SCs 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.