MIRA INFORM REPORT

 

Report Date :

07.03.2012

 

IDENTIFICATION DETAILS

 

Name :

LABORATORIO QUIM-FAR, C.A.

 

 

Registered Office :

Calle Chacaito, Quinta Nueva Eegovia, Urb. Bello Monte Caracas

 

 

Country :

Venezuela

 

 

Financials (as on) :

31.10.2009 

 

 

Date of Incorporation :

04.10.1976

 

 

Com. Reg. No.:

Public Registry No. 35, Vol. 124-A., File 41.679

 

 

Legal Form :

Stock Company

 

 

Line of Business :

Production and sale of pharmaceutical and chemical products: analgesics, antibiotics, antifungal, vitamins, nasal, cardiovascular,  antihistamine, antiemetic medicnes, among others.

 

 

No. of Employees :

19 approximately

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Venezuela

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION

 

CORRECT COMPANY NAME

LABORATORIO QUIM-FAR, C.A.

TAXPAYER REGISTRATION

RIF J-00113498-0

MAIN ADDRESS

Calle Chacaito, Quinta Nueva Eegovia, Urb. Bello Monte

PROVINCE / DEPARTAMENT

Caracas

STATE / REGION

Caracas

COUNTRY

VENEZUELA

TELEPHONE

(58212) 9511684 / 9536416

E-MAIL

info@quimfar.com

WEB

www.quimfar.com

 

SUMMARY

 

Capital stock

Bs. 260,000.= (paid-in)

Annual revenues

US$ 1,066,672.56 (31OCT2009)

permanent employees

19 approximately

Chief Executive

MASIRONI PERERA, LUIS AMBROSIO NELSON

Disposition

Excellent.- Full information and updated figures.

Payments policy

 (No payment experience traced)

Credit (**)

Indeterminate / Information is insufficient.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company

DATE OF INCORPORATION

04OCT1976

PLACE OF REGISTRY

Caracas (Registry of Companies IV)

DURATION

50 years

REGISTRATION

Public Registry No. 35, Vol. 124-A., File 41.679

INITIAL CAPITAL

Bs. 100,000.=

CURRENT PAID-IN CAPITAL

Bs. 260,000.= (paid-in)

LAST CAPITAL INCREASE

14/11/2007

CLASS OF SHARES

Registered

SHARE VALUE

Bs. 1.00

CURRENT EXCHANGE RATE (US$)

Bs. 4,30 per 1 USD

COMMENTS

 
Subject Company was originally registered as a Limited Liability Company (SRL). In 1991, its legal status was changed to Corporation (C.A.)
 
The Board of Directors was elected on September 17, 2007 until 2012.
   
Shareholders' equity: 1,245,921.=

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

MASIRONI PERERA, LUIS AMBROSIO NELSON

President/Shareholder

11%

 

MASIRONI GONFIANTINI, NELSON

Vice Pres./Shareholder

51%

 

MASIRONI PERERA, CARMEN ELENA

Director/Shareholder

11%

 

PERERA DE MASIRONI, CARMEN

Director/Shareholder

09%

 

MASIRONI PERERA, DARCY VERONICA

Shareholder

06%

 

MASIRONI PERERA, MARIA ZULEIKA

Shareholder

06%

 

MASIRONI DE SANTAMARIA, SONIA REGINA

Shareholder

06%

 

 

 

WHO IS WHO?

 

MASIRONI PERERA, LUIS AMBROSIO NELSON

NATIONALITY

Venezuelan

D.O.B.

1961

ID

CI 5313499

 

 

 

 

MASIRONI GONFIANTINI, NELSON

 

 

 

 

MASIRONI PERERA, CARMEN ELENA

NATIONALITY

Venezuelan

D.O.B.

1955

ID

CI 4355487

 

 

 

 

PERERA DE MASIRONI, CARMEN

 

 

 

 

MASIRONI PERERA, DARCY VERONICA

NATIONALITY

Venezuelan

D.O.B.

1956

ID

CI 4766689

 

 

 

 

MASIRONI PERERA, MARIA ZULEIKA

NATIONALITY

Venezuelan

D.O.B.

1957

ID

CI 5532628

 

 

 

 

MASIRONI DE SANTAMARIA, SONIA REGINA

NATIONALITY

Venezuelan

ID

CI 5532595

 

BUSINESS HISTORY

 

 
The company's founders were NELSON MASIRONI GONFIANTINI, CARMEN PERERA DE MASIRONI and CARMEN ELENA MASIRONI PERERA.

 

 

BUSINESS

 

Main activity

 
Production and sale of pharmaceutical and chemical products: analgesics, antibiotics, antifungal, vitamins, nasal, cardiovascular,  antihistamine, antiemetic medicnes, among others.

SELLING TerritorY

Domestic market

EMPLOYEES

19 approximately

 

LOCATION

 

FLOORS

2

AREA

800 m2 approx.

OTHER PREMISES

 
The Administrative office and Warehouse operate at the address in the heading. This is a two-storey premises of 800 m2 approximately; in regular condition.
 
Other Premises:
Two-storey house, a little old construction located at a narrow secondary street with permanent traffic, in a commercial, residential area.

Comments

 
Wholesaler
 
Subject's sales are aimed at the public and private sector.
 
Its clients include the Ministry of Health, Droguería los Andes, Prosalud, Dronaca, Inquifave, etc.

 

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Luis Masironi Perera

Position(s)

President

Disposition

Excellent.- Full information and updated figures.

Information provided

 
We spoke with Luis Masironi Perera, the company's President, who refused to cooperate with our investigation.
   
Therefore, this report has been prepared through third-party sources where we could obtained the Balance Sheet as of  31/10/2009, fiscal year-end, expressed in Bolivares Fuertes, which is shown below:
   
 

Comments

 
   DATE OF BALANCE SHEET  :          31OCT2009  
   TYPE OF BALANCE SHEET  :          Historical 
   BALANCE SHEET OF            :           Year-end 
   CURRENCY                             :         Bs. Fuerte 
   EXCHANGE RATE PER US$  :                4,30 
   ASSETS
      CASH AND DEPOSITS        :        1.948.292,00 
      RECEIVABLE                       :          204.953,00 
      INVENTORY                        :           32.170,00 
      OTHER                                :          192.879,00 
      TOTAL CURRENT               :        2.378.294,00 
      FIXED ASSETS                   :          199.052,00 
      OTHERS                             :              129,00 
   TOTAL ASSETS                     :        2.577.475,00     
   LIABILITIES
      BANKS/SUPPLIERS           :          797.502,00 
      OTHERS                             :          177.451,00 
      TOTAL CURRENT              :          974.953,00 
      LONG-TERM                       :          356.601,00 
   SHAREHOLDERS' EQUITY   : 
      CAPITAL                              :          260.000,00 
      RESERVES                         :           26.000,00 
      PROFIT (LOSS)                  :          959.921,00 
   TOTAL S. EQUITY                 :        1.245.921,00 
   TOTAL LIABILITIES/S. EQUITY:    2.577.475,00    
 
 
   SALES                                   :        4.586.692,00 
   PROFIT (LOSS)                    :          454.585,00 
 
   RATIOS
      LIQUIDITY RATIO           :                2,44 (Current Assets/Current Liabilities)
      INDEBTEDNESS RATIO  :             127,79% (Shareholders' equity/Current Liabilities %)
      PROFITABILITY RATIO :               9,91% (Profit/Sales %)
      WORKING CAPITAL           :        1.403.341,00 (Current Assets - Current Liabilities)

 

 

SALES

US$ 1,066,672.56 (31OCT2009)

Insurance Comments

 
No insurance-related information could be obtained.

 

PAYMENTS RECORD: TRADE REFERENCES

 

(Confidential Information)

CREDIT HISTORY

As the names of Subject's suppliers were not revealed, we could not obtain any trade references. Therefore, the Subject's payment history cannot be accurately determined, but payments are believed to be prompt.

 

 

BANKING INFORMATION

Bank

 

The names of the banks with which Subject works were not revealed.

 

 

Comments :

Subject is registered in CADIVI for obtaining dollars at preferential exchange rate. Between 2004 and 2010, 97 import applications for US$ 2,102,831.00 were approved to Subject. In 2011, up to September, 12 applications for US$ 173.947,00. have been approved to Subject.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.03

UK Pound

1

Rs.79.32

Euro

1

Rs.66.02

 

 

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%)

 

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.