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Report Date : |
11.12.2012 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIAS INTERCAPS DE VENEZUELA C.A. |
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Formerly Known As : |
R.P. SCHERER DE VENEZUELA CA. |
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Registered Office : |
Primera Transversal, Edif. Intercaps, Urb. Artigas, San Martín,, Caracas, Distrito Capital |
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Country : |
Venezuela |
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Date of Incorporation : |
02.10.1985 |
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Legal Form : |
Stock Company |
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Line of Business : |
Manufacture and commercialization of soft and hard gelatin capsules
for different industries |
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No. of Employees : |
310 (latest reported) employees |
RATING & COMMENTS
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MIRA’s 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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Venezuela |
B2 |
B2 |
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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 |
Venezuela - ECONOMIC OVERVIEW
Venezuela remains highly dependent on oil revenues, which account for
roughly 95% of export earnings, about 40% of federal budget revenues, and
around 12% of GDP. Fueled by high oil prices, record government spending helped
to boost GDP growth by 4.2% in 2011, after a sharp drop in oil prices caused an
economic contraction in 2009-10. Government spending, minimum wage hikes, and
improved access to domestic credit created an increase in consumption which
combined with supply problems to cause higher inflation - roughly 28% in 2011.
President Hugo CHAVEZ's efforts to increase the government's control of the
economy by nationalizing firms in the agribusiness, financial, construction,
oil, and steel sectors have hurt the private investment environment, reduced productive
capacity, and slowed non-petroleum exports. In the first half of 2010 Venezuela
faced the prospect of lengthy nationwide blackouts when its main hydroelectric
power plant - which provides more than 35% of the country's electricity -
nearly shut down. In May 2010, CHAVEZ closed the unofficial foreign exchange
market - the "parallel market" - in an effort to stem inflation and
slow the currency's depreciation. In June 2010, the government created the
"Transaction System for Foreign Currency Denominated Securities" to
replace the "parallel" market. In December 2010, CHAVEZ eliminated
the dual exchange rate system and unified the exchange rate at 4.3 bolivars per
dollar. In January 2011, CHAVEZ announced the second devaluation of the bolivar
within twelve months. In December 2010, the National Assembly passed a package
of five organic laws designed to complete the transformation of the Venezuelan
economy in line with CHAVEZ's vision of 21st century socialism. In 2011,
Venezuela continued to wrestle with a housing crisis, higher inflation, an
electricity crisis, and rolling food and goods shortages - all of which were
fallout from the government's unorthodox economic policies. The budget deficit
reached around 5.2% of GDP in 2011, and public debt as a percent of GDP climbed
steeply, despite record oil prices.
Source CIA
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CORRECT COMPANY NAME |
INDUSTRIAS
INTERCAPS DE VENEZUELA C.A. |
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TAXPAYER REGISTRATION |
RIF J002189703 |
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MAIN ADDRESS |
Primera Transversal, Edif. Intercaps, Urb.
Artigas, San Martín, |
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PROVINCE / DEPARTAMENT |
Caracas |
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STATE / REGION |
Distrito Capital |
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COUNTRY |
VENEZUELA |
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TELEPHONE |
(58212) 4512822 |
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E-MAIL |
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WEB |
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Date of foundation |
1985 |
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Capital stock |
No specified |
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permanent employees |
310 (latest reported) |
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Chief Executive |
NASH BORGMAN, SALOMON |
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Disposition |
Report totally prepared by outside
sources. |
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Payments policy |
Usually to terms/good |
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LEGAL STATUS |
Stock Company |
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DATE OF INCORPORATION |
02OCT1985 |
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PLACE OF REGISTRY |
Caracas - Registry of Companies I |
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DURATION |
99 years |
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INITIAL CAPITAL |
Bs.3,750,000.= Bolívares |
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CURRENT PAID-IN CAPITAL |
No specified |
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LAST CAPITAL INCREASE |
August 7, 2000 (Nº51, Vol. 134-A) |
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LISTED AT STOCK EXCHANGE |
No |
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CURRENT EXCHANGE RATE (US$) |
Bs.4.29 per USD.1.00 |
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COMMENTS |
The Company was organized under the name
R.P. SCHERER DE VENEZUELA CA. In December 1991, it adopted the current
name: INDUSTRIAS INTERCAPS DE VENEZUELA C.A. |
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NASH BORGMAN,
SALOMON |
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NATIONALITY |
Venezuelan |
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ID |
CI 6928719 |
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ASSOCIATED AS PER OUR DATABASE TO |
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BORGMAN DE NASH,
GUSTA |
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NATIONALITY |
Venezuelan |
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ID |
CI 2985428 |
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It was creted in 1986 in Venezuela in order to promote
production of capsules of hard and soft gelatine of the highest quality to meet
national demand of the pharmaceutical, veterinary and food industries. |
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RELATED COMPANIES
TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
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Main activity |
Manufacture and commercialization of soft
and hard gelatin capsules for different industries. |
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Import |
Yes |
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Country |
Germany, Brazil, Colombia, USA, Belgium,
Mexico and Canada |
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Export |
Yes |
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COUNTRY |
USA, Brazil, Central America, South
Africa, the Caribbean |
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% Credit SALES / Terms |
100% (30, 90 days) |
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% Ventas exterior (Paises) |
92% |
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% DOMESTIC PURCHASES |
Yes |
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% FOREIGN PURCHASES |
Yes |
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SELLING TerritorY |
Domestic market and abroad |
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EMPLOYEES |
310 (latest reported) |
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Comments |
Products are targeted at the pharmaceutical,
cosmetic and naturism industries. |
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Disposition |
Report totally prepared by outside
sources. |
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Information provided |
We tried to talk to representatives of the
Company but results were not favorable. They said executives were assisting
to training . Anyway, we left our
introduction letter to be evaluated.
In case of favorable answer, additional information will be sent,
otherwise, consider this report definitive In view of this situation we searched
through other sources but no updated balance sheets or estimated accounting
figures were available . |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINED An indeterminate financial standing is
observed since no updated balance sheets or estimated accounting elements
were available to analyze this Company results. Nonetheless, business circles recently
consulted referred favorably on the Company's payment record. |
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Property of company comments |
They include: - Office furniture and fixtures - Machinery and equipment - Vehicles - Plant |
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INSURANCE |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
(Confidential Information)
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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CREDIT HISTORY Trade historical record does not show
payment inconvenience. |
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BANKERS Under privacy policy the above banks did
not provide information about their client. |
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REPUTATION |
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NOTHING AGAINST COMPANY |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.34 |
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UK Pound |
1 |
Rs.87.09 |
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Euro |
1 |
Rs.70.13 |
INFORMATION DETAILS
|
Report Prepared by
: |
MNL |
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.