MIRA INFORM REPORT

 

 

Report Date :           

14.10.2011

 

IDENTIFICATION DETAILS

 

Name :

DROGUERIA INTI S.A.

 

 

Registered Office :

Lucas Jaimes No. 1959, La Paz

 

 

Country :

Bolivia

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.11.1947

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture and commercialization of medicinal products for human use

 

 

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 :

No Complaints

 

 

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

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Bolivia

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Registered Name   

 

DROGUERIA INTI S.A.

 

N.I.T.: 1020521023

 

 

Summary      

 

INCORPORATED IN 1947. FOLLOWER OF ACTIVITIES. BALANCE SHEET AS OF 31/12/2010: BALANCED FINANCIAL POSITION WITH POSITIVE FINAL PROFIT. FIT FOR CURRENT CREDITS WITH THE APPROPRIATE GUARANTEES.

 

 

Line of Business   

 

MEDICINAL PRODUCTS FOR HUMAN USE

MANUFACTURE

COMMERCIALIZATION

 

 

Legal Structure   

 

Business type: Public Limited Company

Incorporation date: 1947

Registered: 14/11/1947

Duration: Unlimited

End of fiscal year: 31/03

 

 

Contact       

 

Legal, Administrative and Sales Address: Lucas Jaimes No. 1959, La Paz, Bolivia.

Phone.: (591-2) 222-0200

Fax.: (591-2) 222-1981

E-mail: droguería@inti.com.bo

Website: www.inti.com.bo

 

Laboratory: Carretera a Viacha Km.15, El Alto, Bolivia.

 

Board of Directors   

 

President:                              OHNES TANZER FRIEDRICH

Vicepresident:                      ANKER ARTEAGA FERNANDO

Secretary:                             LEMA MARIO

 

Trustee:                                CASTELLANOS ORTIZ HUGO

 

The first two mentioned ones, as Managers, are in charge of the management and administration of the company, with the use of the social signature.

 

 

Corporate Stock       

 

At 31/12/2010, the share capital of the company was established on $ Bolivianos 63.957.600,00.- which was totally suscribed and paid-in. It is not known neither who contributes such amount nor the percentages.

 

 

History   

 

According to our database, we can say that these activities were initiated in 1936 by the company DROGUERIA HAMBURGO LTDA., which operated until 1947.

 

At that moment, the holder was incorporated as the follower of the activities, being located at the previous mentioned addresses. It has several distribution centers in different points of the country.

 

 

Finances      

 

The company’s representatives were very reluctant to supply accounting  information, so, through indirect sources we could obtain some figures from the Balance Sheet dated on 31/12/2010, which are expresed in pesos bolivianos.

 

ASSETS:

 

Total current assets                                        181.730.436,97

Total non-current assets                                 117.020.098,74

                                                                       --------------------

TOTAL ASSETS                                          298.750.535,71

                                                                   ==============

LIABILITIES:

 

Total current liabilities                                    93.351.143,12

Total non-current liabilities                             61.562.372,03

                                                                       --------------------

Total Liabilities                                             154.913.515,15

Net Worth                                                      143.837.020,56

                                                                      ---------------------

TOTAL LIABILITIES                                  298.750.535,71

                                                                     ==============

INCOME STATEMENT:

 

Total Incomes                                                204.990.006,29

FINAL PROFIT                                              25.572.656,38

                                                                    ==============

 

At that moment, the holder had a balanced financial position, because there was a good relation between its current assets and current liabilities, with large own resources to support the operations into play.

 

 

Fixed Assets     

 

PROPERTIES:

This company is owner of all the occupied premises which have a good realization value as a whole.

No title deeds were shown as to verify if its property is unencumbered.

 

VEHICLES:

30 vehicles about which no more details are known.

 

 

Commercial References      

 

MATRIPLAST S.A. (Bolivia)

LAPAPELERA S.A. (Bolivia)

 

Both companies are suppliers of this company.

It fulfills its commitments within normal terms.

Payments are made in 30/60 and 90 days.

Good concept.

 

 

Activity       

 

The company is engaged in the manufacture of medicinal products for human use and related ítems.

It has a large laboratory, with a modern technology.

 

The following products are the last ones added to its long list:

 

* Mentisan Plus (Children’s flu remedy)

* Gelofusine (Plasma Volume Expander)

* LKD Gingival (Mouthwash)

* Mentisan Plus (Children’s remedy)

* LKD Gingival (Toothpaste)

* Carqueja médica (Gastrointestinal Digestive)

* Lipofundin (Caloric and acid provision)

 

It carries out imports from India, Argentina, Holand, Germany and Chile among other countries.

It exports to Germany, Paraguay, Peru and United States.

 

MAIN SUPPLIERS:

 

B.BRAUN MELSUNGEN GmbH (Germany)

NUTRICIA B.V. (Holand)

MATRIPLAST S.A. (Bolivia)

LAPAPELERA S.A. (Bolivia)

 

* 672 EMPLOYEES

 

 

Banks      

 

BANCO BISA                                                Headquarters

BANCO DE CREDITO DE BOLIVIA          Headquarters

BANCO NACIONAL DE BOLIVIA            Headquarters

BANCO MERCANTIL SANTACUZ           Branch: La Paz

 

 

Insurances       

 

BISA SEGUROS S.A.

 

 

Payment Record   

 

It is commercially related with local and foreign companies. Many of them give it their credit support, not making up to now objections about its payment behaviour.

 

* FULFILLMENT: WITHOUT OBJECTIONS UP TO NOW.

 

 

Final Opinion    

 

Bearing in mind all the exposed information, we consider feasible the credit treatment with the holder with the request of the appropriate guarantees in accordance to the amounts into play.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.02

UK Pound

1

Rs.77.13

Euro

1

Rs.67.56

 

 

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.