|
Report Date : |
29.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
EMPRESA IMPORTADORA Y EXPORTADORA DE
MEDICAMENTOS FARMACUBA |
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|
|
|
Registered Office : |
Calle 70 No. 29B14 Entre 29B y
29C. Playa. Ciudad de La Habana |
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Country : |
Cuba |
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Year of Establishment : |
2006 |
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|
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Government Agency |
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|
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Line of Business : |
Importer and distributor of pharmaceutical products |
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No. of Employees : |
160 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Cuba |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
|
POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic
|
Currency: 100.00 CUP = 3.77358 USD |
|
Comments on data supplied: |
Dear client, Please note that the address provided in
the order is that of the registered agent as the main office for this company
is headquartered at Calle 70 No. 29B14 Entre 29B y 29C. Playa. Ciudad de La
Habana. Cuba. Please refer to the COMMENTS ON LOCATION part of this report. |
||
|
Legal Name: |
EMPRESA IMPORTADORA Y EXPORTADORA DE MEDICAMENTOS FARMACUBA |
||
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Trade Name: |
Farmacuba |
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|
Legal Address |
Calle 70 No. 29B14 Entre 29B y 29C. Playa. Ciudad de La Habana. Cuba. |
||
|
Operative Address |
Calle 70 No. 29B14 Entre 29B y 29C. Playa. Ciudad de La Habana. Cuba. |
||
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Telephone: |
+537 617-965 / +537 624-105 / +537 338-821 / +537 338-857 |
Registration Number : |
NA |
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Fax: |
+(537) 204 8278 |
Legal Form: |
Government Agency |
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Email: |
Registered in: |
Cuba |
|
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Website: |
NA |
Date Created: |
2006 |
|
Manager: |
Pedro Iglesias, Import manager |
Date Incorporated: |
NA |
|
Staff: |
160 |
Stock: |
NA |
|
|
|
Value: |
NA |
|
Activity: |
Importer and distributor of pharmaceutical products |
||
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Name of the Bank |
Banco Central De Cuba |
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Name of the Bank |
Banco Nacional De Cuba |
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HISTORY |
|
|
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This company was created in the year 2006. |
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PRINCIPAL ACTIVITY |
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The company operates as an Importer, exporter, distributor and
marketer of pharmaceutical products |
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Products/Services description: |
|
|
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Antibiotics Vitamins Lubricants Antiallergics Antidepressants Among others. |
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Sales are: |
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|
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Wholesale |
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Clients: |
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Laboratories Among other related industries |
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Suppliers: |
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The person contacted refused to provide any supplier name |
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Operations area: |
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|
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National, International, Local |
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The company imports from Netherlands, US and Luxemburgo |
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The company exports to Latin America, Africa, Caribbean Islands, Middle
East |
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Trade References: |
|
|
|
As we didn't get an answer when calling the company we were unable to
get the name of their suppliers for trade references. |
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The subject employs 160 employee(s) |
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Comments on staff: |
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|
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This information was not confirmed with the staff. |
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PAYMENTS |
|
|
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To be monitored |
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LOCATION |
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Headquarters |
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The company is headquartered at Calle 70 No. 29B14 Entre 29B y 29C.
Playa. Ciudad de La Habana. Cuba. |
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Comments on location: |
|
|
|
Please note that the address mentioned in the order is that of the
registered agent as listed with the Cuban state public registry of
enterprises and budgeted entities. |
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Branches: |
|
|
|
The company has another branch located at: Calzada De Vento KM 3 1/2 Cerro L, Cuba No other branches were found for this company. This information was
not confirmed with the staff. |
- Manager - Related
Companies
|
Shareholders Parent Company(ies): |
|
|
|
This company is privately held and it is owned by the Cuban
Government. |
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Management: |
|
|
|
Pedro Iglesias, Import manager Ernesto Roman Alba, Export manager Francisco Ramirez Morffi, Manager The mentioned management could not be verified. |
- COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
|
We have tried to contact this company several times during business
hours without getting any positive outcomes. |
|
However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
|
Currency |
DATE |
|
USD |
2009 |
|
Turnover |
15,000,000 |
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The cash flow is |
Normal |
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Comments on the financial data: There was no
recent financial information provided or released to our sources. |
|
Legal Fillings |
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The sources consulted record no
detrimental legal or labor court information. |
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Local credit bureau gave a low credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
|
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Final Opinion |
|
|
|
This is a medium sized company with about 160
employees and 6 years of experience. The subject has a worldwide presence along
with a strong presence in its republic. Moreover, the company is privately held
and owned by the Cuban government. There were no legal filings found against
the company or its legal representatives. - Political risk: A lack of institutional oversight raises
the risk of corruption, mismanagement and a lack of transparency,
particularly in the use of public resources. Over time, this is likely to
increase risks to sovereign creditworthiness. - Economic structure risk: Cuba's high dependency on oil reflects the
failure of successive governments to undertake structural fiscal reform and
encourage diversification. Declining production capacity continues to leave
the country vulnerable to commodity price volatility. Due to the market restrictions in Cuba,
the company has no healthy financial structure. Therefore we can only suggest working with
GUARANTEES. |
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|
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||
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Profitability |
N.A. |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
TO BE MONITORED |
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Cash |
NORMAL |
|
|
|
Comments |
|
|
|
We have tried to contact this company several times during business
hours without getting an answer. In fact, we called all of the phone numbers provided without getting
any positive outcomes. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.78 |
|
UK Pound |
1 |
Rs.88.04 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.