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Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
SM PHARMA |
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Registered Office : |
Av. 59A # 99 L - 20, Edif. El Sajarito Circunvalación 2, Bolívar,
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Country : |
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Year of Establishment : |
1978 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Stock Company |
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Line of Business : |
Subject Company is engaged in the manufacture, trading and distribution of pharmaceutical products for human use (generics and brand medicines) |
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No. of Employees : |
120 |
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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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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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 |
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CORRECT COMPANY NAME |
SM PHARMA C.A. |
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TAXPAYER REGISTRATION |
RIF J070131390 |
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MAIN ADDRESS |
Av. 59A # 99 L - 20, Edif. El Sajarito
Circunvalación 2, Bolívar |
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PROVINCE / DEPARTAMENT |
Maracaibo |
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STATE / REGION |
Zulia |
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COUNTRY |
VENEZUELA |
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TELEPHONE |
(58261) 7869777 |
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E-MAIL |
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WEB |
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COMMENTS |
The CORRECT
address is shown at the identification heading. |
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DATE OF FOUNDATION |
1978 |
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CAPITAL STOCK |
Bs.F.10,000,000.= Bolivares Fuertes |
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PERMANENT EMPLOYEES |
120 |
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CHIEF EXECUTIVE |
SANTA MARTA PEBIS, REYMUNDO |
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DISPOSITION |
Poor.- Only general information without
figures. |
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PAYMENTS POLICY |
Usually to terms/good |
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CREDIT (**) |
Risk is Moderate. Within Average. Lightly
Fair Situation. |
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LEGAL STATUS |
Stock Company |
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DATE OF INCORPORATION |
1978 |
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PLACE OF REGISTRY |
Maracaibo |
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CURRENT PAID-IN CAPITAL |
Bs.F.10,000,000.= Bolivares Fuertes |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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CURRENT EXCHANGE RATE (US$) |
Bs.F.4.30 per 1 USD |
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COMMENTS |
Subject Company
was incorporated in 1978 as LABORATORIOS FARMACEUTICOS SM C.A. Then, it
adopted the current corporate name SM PHARMA C.A. |
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GASSAN CHANAM |
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NATIONALITY |
Venezuelan |
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Subject Company
was incorporated in 1978 as a small manufacturer of OTC products. At present,
Subject started an industrial reconversion plan when a state-of-the-art plant
was developed with worldwide standards of Good Manufacturing Practices (GMP).
The plant is located in Maracaibo, Estado Zulia, on a 15,000 M2 area. The
plant complies with a production of more than 42 Million units which are intended
for internal products of SM PHARMA, C.A., as well as the production to third
parties. These units produce in brand and generic drugs in all their forms to
the government market and the private sector. In the industrial reconversion,
the company acquired a distribution center in Los Ruices, Caracas. This
center has more than 7,500 M2 for the distribution of all the manufactured
products. Subject is part
of Organización SM, which is currently under the business holding of
CORPORACION SM C.A. |
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RELATED COMPANIES TO SUBJECT COMPANY OR TO
MAJORITY SHAREHOLDER |
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SIC
Classification |
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MAIN ACTIVITY |
Subject Company
is engaged in the manufacture, trading and distribution of pharmaceutical
products for human use (generics and brand medicines). |
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IMPORT |
Yes |
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COUNTRY |
USA, Honduras, India, China, Italy,
Germany, Mexico and Peru. |
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EXPORT |
No |
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% CASH SALES / METHOD |
40% |
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% CREDIT SALES / TERMS |
60% |
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% DOMESTIC PURCHASES |
30% |
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% FOREIGN PURCHASES |
70% |
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SELLING TERRITORY |
100% Domestic market |
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EMPLOYEES |
120 |
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COMMENTS |
Subject's
clients are government institutions and private companies. |
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INTERVIEWEE(S) |
Germán Pérez Devis |
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POSITION(S) |
Finance Manager |
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DISPOSITION |
Poor.- Only general information without
figures. |
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INFORMATION PROVIDED |
We spoke with
German Perez (Finance Manager) who provided some information and
confirmed those already existing, except for financial statements. Consequently,
this report has been supplemented based on data gathered in independent
sources. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINED The company's
Financial Standing is considered to be UNDETERMINED since there are no
financial figures that allow us to asses its results in the last fiscal year.
Nevertheless, no
adverse that may affect Subject's reputation have been found. Currently,
Subject is considered one of the most important laboratories in Venezuela in
terms of manufacture volume of units on its more than 120 therapeutic
specialties under different pharmaceutical forms. |
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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 No signs of
payment default have been found so far. |
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BANKERS BANCO PROVINCIAL BANCO VENEZUELA Subject is
client of the above mentioned banks which when being consulted told us that
according to the current legal regulations they cannot provide any
information on Subject's operations under bank secrecy. |
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REPUTATION |
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NOTHING AGAINST COMPANY |
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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.55.42 |
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UK Pound |
1 |
Rs.86.04 |
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Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
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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.