MIRA INFORM REPORT
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Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS RIDER LTDA |
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Registered Office : |
Placer 1348 , |
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Country : |
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Year of Establishment : |
2007 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Laboratory of pharmaceutical products |
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No. of Employees
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210 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
520.000 000's Pesos |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Chile |
a2 |
a2 |
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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 |
LABORATORIOS RIDER
LTDA.
Placer 1348
Santiago
XIII Region Metropolitana
CHILE
Telephone :
56-2-4990823, 56-2-5555490, 56-2-4990800
E_Mail :
rider@rider.cl , jose.acevedo@rider.cl
Web Site : www.rider.cl
Postal Code : 8361439
SUMMARY
Started
: 2007
Total Employees : 210
Payments :
Prompt
Capital
: 000's$ 8.991.884.-
Sic(s) : 5122
Line of Business: Laboratory of pharmaceutical products.
Interpretation at the end of the report.
Credit Recommendation
000's Pesos 000's US$
dollars 000's Euros
Conservative value :
520.000
1.067
814
Liberal value
: 572.000
1.174
895
If additional information is received or present information is rectified, this
recommendation may be modified.
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL
INFORMATION
Commercial Bulletin : As at 17/04/2012 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information bulletin
Labor Bulletin : As
at 17/04/2012 does not register labor infringements
Previsional Bulletin : As at 17/04/2012 does not
register pension fund's
infringements
Consolidated delinquency : As at 17/04/2012, subject does not register any
delinquent bill
TRADE REFERENCES
Suppliers' trade
references are supplied as follows:
Detail of References
Old : Since 1992
Last purchase : 03-2012
Terms : 60 days
Payment : Prompt
Notes : order form
Credit : (000'sUS$) 4.000
Owes : -
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 1.500
Old : Since
1997
Last purchase : 03-2012
Terms : 30-45 days
Payment : Prompt
Notes : attached check
Credit : (000'sUS$) 6.000
Owes : -
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 2.400
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1997 07-11 Prompt attached
check
6.000
-
Since 1992 07-11 Prompt order
form
4.000
-
Since 1997 02-11 Prompt attached
check
6.000 None
Since 1992 01-11 Prompt order
form
-
-
Since 1997 04-10 Prompt attached
check
6.000 None
Since 1992 05-10 Prompt order
form
Open None
Since 1992 02-09 Prompt order
form
Open None
Since 1997 12-08 Prompt attached
check
6.000 None
Since 1997 04-08 Prompt attached
check
6.000
-
Since 1992 06-08 Prompt order
form
Open
-
During the last 6 months, the account holder credit history shows 26 credit
review inquiries requested by banks, telecommunications companies,
administrators, and other businesses in general.
The account holder credit report reflects no delinquent payment history, no
protests, and
no social security and/or work infringements as of the date of
this report.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following banks:
- Banco de Chile
- Banco Santander Chile
- BancoEstado
OPERATIONS
Line of Business : Laboratory of pharmaceutical products.
(Subject started operations on Jun 11, 2007, as the legal
continuer of the activities of Laboratorio Rider S.A. ,
taxpayer ID 92.054.000-7)
Classification according to commercial activity:
Sic: 5122-0000 Drugs, proprietaries, and sundries
-0300 Drugs and drug
proprietaries
-0308 Pharmaceuticals
-0307 Patent medicines
Subject is considered as a medium company in this line of business, strong
competition
Sales
Sales are steady throughout the year
100% wholesalers
National sales territory
Products are sold
National: 100%.
Not exporting currently.
Historical exports registered in the Customs National Services
Total 2009 = 000's$ 16.253
Total 2008 = 000's$ 18.862
Total 2007 = 000's$ 4.717
Not exporting currently
Purchases
Places orders with multiple suppliers
National: 1%
International: 99%
Imports from Germany, Argentina, Austria, Brazil, China, Colombia, South Korea,
Spain, France, Greece, Netherlands, India, England, Italy, Japan, Malta,
Mexico,
Czech Republic, Switzerland, United Kingdom, United States,
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
United
States
32,43 0,29
India
28,84 57,33
Argentina
10,80 8,21
France
6,68 12,87
Germany
4,66 5,00
Brazil
4,49 3,69
Spain
3,59 2,71
China
3,18 1,53
Greece
1,41 4,71
Italy
1,37 0,00
Austria
0,73 2,64
Mexico
0,71 0,00
United
Kingdom
0,40 0,00
South
Korea
0,25 0,00
Colombia
0,14 0,76
Switzerland
0,14 0,00
Japan
0,06 0,00
Netherlands
0,06 0,19
Malta
0,04 0,00
England
0,03 0,00
Czech
Republic
0,00 0,00
Historical
registries
Total 2011 = 000's$ 2.619.141 Accumulated 2012 = 000's$
442.289
Total 2010 = 000's$ 1.967.645
Total 2009 = 000's$ 1.820.618
Total 2008 = 000's$ 2.055.545
Total 2007 = 000's$ 747.790
Main suppliers
- Chilarom S.A.
- Faret S.A.
- Ilop S.A.
- Pomos Industrial Metalurgica S.A.
Employees: 210 employees
Location
- Plant and administration office located at Placer 1348 Santiago, Chile,
industrial area, secondary avenue of normal traffic, construction
in good
conditions
Branches
Subject does not have any branch
RELATED COMPANIES
Subject does
not have any related company.
FIXED ASSETS
Real estates
Subject does
not register real estates
However, it was informed that subject is the owner of the property located at
the captioned address.
Vehicles
Owns vehicles for the company's use
3 vans .
Machinery & Instalations
Equipments and machinery, not specified
INSURANCES
Insurance Company:
-RSA Seguros Chile S.A.
Risks : Total
cover.
Objetive : Assets in general.
-Chilena Consolidada Seguros Generales S.A.
Due
: Unspecified due dates
Risks : Total
cover.
Objetive : Property, equipment.
ADMINISTRATION
General Manager : Carolina Fuentes
Bustos
Vice President - : Liliana
Jaramillo de Hoyos
Regional
Technical
Director :
Ilse Ponce
Adm. & Finances Manager :
Heinrich Albert Strelow
Treasurer
: José Acevedo García
LEGAL INFORMATION
Legal Structure :
Limited Liability Partnership
Constitution date :
16/05/2007. Registered on leaf 20.310 N°14.818, Santiago
Trade Register , year 2007,
under the business name
INVERSIONES LABORATORIOS
RIDER LIMITADA
Notary
: Pablo Roberto
Poblete Saavedra, Santiago
Term of duration : 10 Year automatically renewable for
equal and successive
periods
Legal Address : Santiago - Chile
Published in : Official Gazette
dated 25/05/2007 page Nº 50
Current Social Capital: 000's$ 8.991.884.-
Social Initial Capital: 000's$ 1.000.-
Partner : 2
- 99,99% Synthon International Holding BV
- 0,01% Synthon Holding BV
Power of attorney held by General Manager.
Legal changes
Public Deed dated 11/06/2007, notary Guillermo Le-Fort Campos, Santiago,
published in the Official Gazette dated 13/06/2007 page N° 24, corporate name
was modified: from "Inversiones Laboratorios Rider Limitada" to
"Laboratorio
Rider Limitada". At the same time, capital was increased: from the initial
$1.000.000 to $ 4.221.050.000.-
Public Deed dated 28/12/2007, notary Guillermo Le-Fort Campos, Santiago,
published in the Official Gazette dated 07/02/2008 page N° 32, capital was
increased: from $4.221.050 to $9.179.250.000.- subscribed as follows: A)Synthon
International Holding BV has subscribed and paid $ 8.534.674.000.- and will pay
$ 644.566.000 before April 2008; B) Synthon Holding BV has
subscribed and paid
the amount of $10.000 cash.
Public Deed dated 04/06/2010, notary Eduardo Avello Concha, Santiago, published
in the Official Gazette dated 16/06/2010 page N° 32, capital was reduced: from
$
9.179.250.000 to $ 8.991.884.000.- completed by partners as follows: Synthon
International Holding BV the amount of $ 8.991.874.000 (99.99%), and Synthon
Holding BV the amount of $10.000.- (0.01%).-
Important Note:
Synthon is a dutch company founded in 1991 and operating in 6 countries
-The
Netherlands, USA, Spain, Czech Republic, Australia and Argentina - with more
than 650 employees. It specializes in hybrid and generic medicines,
and in
biotechnological products.
On Jun 11th, 2007 it acquired Laboratorios Rider S.A. Taxpayer ID 92.054.000-7
and since then operates in the chilean market.
INFORMATION SOURCES
On 18/04/2012 Mr. José Acevedo García, Treasurer, submitted just general
information declined financial figures
-Other outside information sources.
Exchange rate
-As at 19/04/2012 $487,32 Per US$
CREDIT RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually used in
the commercial credit evaluation.
The amounts are based on the risk percentages'assignment to the following
indicators: Trade references, number of employees, legal structure,
protested
bills, labor & welfare infringements, unpaid bills, operations, insurances,
net
profit, net worth, working capital and liquidity variations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.99 |
|
UK Pound |
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.63.40 |
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.