MIRA INFORM REPORT

 

 

Report Date :

09.07.2012

 

IDENTIFICATION DETAILS

 

Name :

NORDIC PHARMACEUTICAL COMPANY S.A.C.

 

 

Registered Office :

Patricio Iriarte 279 (Alt. Metro Av. Canada y Av. Arriola), La Victoria, Lima,13

 

 

Country :

Peru

 

 

Date of Incorporation :

05.02.2002

 

 

Legal Form :

Closely-held Corporation

 

 

Line of Business :

Marketing, sale and distribution of pharmaceutical products.

 

 

No. of Employees :

Not Available

 

 

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

 

 

Payment Behaviour :

Unknown

 

 

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)

Peru

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D


 

 

 IDENTIFICATION

 

 

CORRECT COMPANY NAME

NORDIC PHARMACEUTICAL COMPANY S.A.C.

TRADE NAME

NORDIC PHARMACEUTICAL COMPANY

TAXPAYER REGISTRATION

RUC 20503794692

MAIN ADDRESS

Patricio Iriarte 279 (Alt. Metro Av. Canada y Av. Arriola), La Victoria,

POSTAL CODE

Lima,13

PROVINCE / DEPARTAMENT

Lima / Lima

STATE / REGION

Lima

COUNTRY

PERU

TELEPHONE

(511) 6127272

E-MAIL

nordic@nordicnpc.com

 

SUMMARY

DATE OF FOUNDATION

2002

CAPITAL STOCK

S/.3,450.= Nuevos Soles

PERMANENT EMPLOYEES

30 approximately

CHIEF EXECUTIVE

RAVINES MIRANDA, MARIA ESTHER

DISPOSITION

It was not possible to interview any executive.

PAYMENTS POLICY

Delays but within sector norms

CREDIT (**)

Risk is Moderate. Within Average. Lightly Fair Situation.

 

 

 

 

 

LEGAL BACKGROUNDS

 

 

LEGAL STATUS

Closely-held Corporation

DATE OF INCORPORATION

05FEB2002

STARTING DATE

05/02/2002

PLACE OF REGISTRY

Lima

NOTARY OFFICE

Humberto Ponce Alberti.

DURATION

Indefinite.

REGISTRATION

Record 11350088 of P.R.C.

INITIAL CAPITAL

S/.3,450.= Nuevos Soles

CURRENT PAID-IN CAPITAL

S/.3,450.= Nuevos Soles

LAST CAPITAL INCREASE

No increase

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

S/.2.66 per 1.00 USADollar

 

 

 DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

RAVINES MIRANDA, MARIA ESTHER

General Manager

90%

 

RAVINES MIRANDA, NANCY DOMENICA

Manager

10%

 

 

 

 

WHO IS WHO?

 

 

RAVINES MIRANDA, MARIA ESTHER

NATIONALITY

Peruvian

D.O.B.

03APR1974

ID

DNI 10286437

DOMICILE

Larraburre Unanue 188, Dto.31 (Entre 4 y 5 de Av. Arenales)

TELEPHONE

4248182

TAX ID

10102864374

 

 

 

 

RAVINES MIRANDA, NANCY DOMENICA

NATIONALITY

Peruvian

D.O.B.

18DEC1978

ID

DNI 40044390

DOMICILE

Raymundo Cárcamo 671, Urb. Santa Catalina (Cuadra 5-6 Av. Canada) La Victoria, Lima / Lima

TELEPHONE

4714418

TAX ID

10400443900

 

 

 

 

 

 

 BUSINESS HISTORY

 

 

The company was founded by.: Maria Esther Ravines Miranda and Jorge Ignacios Sinfon Phum.

 

 

 

 BUSINESS

 

 

SIC Classification
5 1 - WHOLESALE TRADE-NON-DURABLE GOODS. (Papers, Perfumes, drugs, hardware, Groceries, apparel, food, dairy products, beverages.)

MAIN ACTIVITY

Marketing, sale and distribution of pharmaceutical products.

IMPORT

Yes

COUNTRY

India.

ANNUAL IMPORTS IN US$ (CIF)

YEAR

AMOUNT

2012

854,242.00

2011

2,219,914.00

2010

2,655,266.00

2009

2,014,081.00

2008

583,145.00

EXPORT

No

% CASH SALES / METHOD

25%

% CREDIT SALES / TERMS

75% Terms: 30,60,90 days.

% DOMESTIC PURCHASES

40%

% FOREIGN PURCHASES

60%

SELLING TERRITORY

100% domestic market

EMPLOYEES

30 approximately

LOCATION

PREMISES

Own

OTHER PREMISES

Legal site, Administrative and Commercial Offices are located at the above address, owned.

 

Branches:

- Cal. Iriarte 279, Urb. Santa Catalina, La Victoria.

- Av. Huaylas Nro. 907, Chorrillos.

- Lote. 21 Ex Fundo Cajamarquilla (al Final de La Priale), Lurigancho.

 

The company has fixed residence in Lima, and may establish branch offices anywhere in the country or abroad.

COMMENTS

Subject's main clients are: Ministry of Health, Arzobispo Loayza Hospital, Hipolito Unanue Hospital, among others.

 

Subject's registered purpose is: Marketing, import, export, representation of domestic and foreign brands, buy, sell, lease, provide the following products and services, musical instruments, medicines, equipment related to the health sector, transport infrastructure and related equipment, commercial vehicles, construction machinery,  industrial and chemical equipment, mining machinery, supplies, materials, computer equipment and accessories, chemicals for industrial and agricultural use, vessels, fishing boats, vehicles and equipment for the military, and water irrigation systems, agricultural products, agro-food related equipment and leasing, real estate investments, construction, radio, communication service, freight and passengers.

 

 

 

 

 FINANCIAL INFORMATION

 

 

INTERVIEWEE(S)

Third-party sources

DISPOSITION

It was not possible to interview any executive.

INFORMATION PROVIDED

Despite our insistence we have failed to interview the officials of this company.

 

We could only talk with Ms. Patricia Laulatte (Assistant Manager) who provided general information regading the company and indicated that to reveal more information was essential to have senior management authorization.

 

Finally, in a last contact said they would release information only provided we disclosed the identity of the requesting client.

 

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

NN: UNDETERMINED

Subject's Financial Position is considered UNDETERMINED, since there is no financial figures allowing a financial analysis of the results in its last fiscal year.

In general, information about solvency of the shareholders, operations management and financial results is very weak.

Reluctance to give information under confidentiality, make not possible to find other sources.

 

On the other hand , databases consulted would show irregularities in payments as a protest registered in 2010 but according to the origin (drawer of protest) would have been paid already by Subject. Besides, Subject is reported outstanding obligations to AFP Integra (Pension fund administrator), but were unable to get more details in this respect.

 

Subject's credit experience in the financial sector  is classified as normal, as is reported by the Superintendency of Banking and Insurance.

INSURANCE COMMENTS

We did not have access to that kind of information.

 

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS


(Confidential Information)

TRADE REFERENCES

SUPPLIER: LABORATORIOS LANSIER S.A.C

TEL.: 3328288

COUNTRY: PERU

Goods/Services? : Lab products

 

 

Highest credit? : NC 25,000.=

 

 

Client since? : 2007

Terms? : 45 days

Performance? : Prompt

Comments : No protests pending at present. Subject's payments are timely.

SUPPLIER: AVANZINI S.A.

TEL.: 2240996

COUNTRY: PERU

Goods/Services? : Advertising services

 

 

Highest credit? : NC 2,500.=

 

 

Client since? : 2010

Terms? : 30 days

Performance? : Prompt

Comments : No protests.

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

Comment

GLAND PHARMA LIMITED

INDIA

 

MACLEODS PHARMACEUTICALS LTD

INDIA

 

HETERO DRUGS LIMITED

INDIA

 

GRACURE PHARMACEUTICALS LTD.

INDIA

 

THE MADRAS PHARMACEUTICALS

INDIA

 

 

RISK INFORMATION CENTER

 

DELINQUENCY (INVOICES, RECEIPTS, CHECKS)

 

Creditor

Date of default

Amount S/.

Amount US$

Payment Date

AFP INTEGRA S.A.

 

272.03

0.00

 

AFP INTEGRA S.A.

 

919.01

0.00

 

AFP INTEGRA S.A.

 

275.86

0.00

 

AFP INTEGRA S.A.

 

931.98

0.00

 

AFP INTEGRA S.A.

 

937.13

0.00

 

AFP INTEGRA S.A.

 

937.13

0.00

 

 

DELINQUENCY (PROTESTED DRAFTS, PROMISSORY NOTES)

 

Drawer

Document

Amount S/.

Amount US$

Protested date

Payment date

LABORATORIOS LANSIER S.A.C.

Draft

1,474.20

0.00

09/06/2010

 

 

SUPERINTENDENCY OF BANK & INSURANCE (SBS)

 

Debt structure for bank. SBS Latest Consolidated Credit Report as of : 30/04/2012

 

Bank

Debt Rating

Current Debt

S/.

US$

SCOTIABANK

NORMAL

4,801,028.00

 

CONTINENTAL

NORMAL

1,040,188.00

 

Total

5,841,216.00

 

Guarantees

6,425,677.00

 

 

CONSOLIDATED DEBT (ALL BANKS)                              ENTITIES NUMBER : 3                           30/04/2012

 

 

 

Domestic Currency

Foreign Currency

LOANS

:

2,910,482.00

 

FINANCIAL LEASING

:

770,142.00

 

OTHER INDIRECT CONTINGENT DEBTS

:

2,156,132.00

 

 

:

4,460.00

 

 

 

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

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

TOTAL DEBT

:

5,841,216.00

 

 

 

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

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

 

 

 

CREDIT HISTORY

Subject is reported a protested bill amounting to S/.1,474. = Nuevo Sol, which is listed as pending payment.

It should be noted that until proper adjustment is made to the Chamber of Commerce, a document may still be listed as "unsolved" although it has been paid.

 

Besides, Subject owes a debt amounting to S/.38,146. = Nuevos Soles to AFP Integra SA (Pension fund administrator) corresponding to 35 periods, some of which are detailed below.

 

BANKERS

BBVA CONTINENTAL

SCOTIABANK

 

The subject is a customer of those banks, which when consulted told us that in compliance with current legal regulations, can not provide data on their customer movements out of respect to banking secrecy.

 

 

 

GENERAL INFORMATION

 

 

REPUTATION

 

SLOW WITH AFP, ESSALUD, SUNAT.(Publication)

 

 

 

 

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.55.41

UK Pound

1

Rs.86.04

Euro

1

Rs.68.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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

 

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.