MIRA INFORM REPORT

Report Date :

02.05.2012

IDENTIFICATION DETAILS

Name :	WORLD PHARMA SERVICES S.A DE C.V.
Registered Office :	Prolongación Industria Textil No. 17, Col. Parque Industrial Naucalpan,
Country :	Mexico
Date of Incorporation :	25.09.2008
Legal Form :	Stock Company of Variable Capital
Line of Business :	Manufacturers of active ingredients for the development of drugs with pharmaceutical companies
No. of Employees :	14

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
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 (31.12.2011)	Current Rating (31.03.2012)
Mexico	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

WORLD PHARMA SERVICES S.A DE C.V.

TRADE NAME

WORLD PHARMA SERVICES

TAXPAYER REGISTRATION

RFC WPS-080925-1H1

MAIN ADDRESS

Prolongación Industria Textil No. 17, Col. Parque Industrial Naucalpan,

POSTAL CODE

53489

PROVINCE / DEPARTAMENT

Naucalpan de Juárez

STATE / REGION

Estado de México

COUNTRY

MEXICO

TELEPHONE

(5255) 55752948 - with 11 lines

E-MAIL

amarquez@worldpharma.com.mx (Customer Service)

WEB

www.worldpharma.com.mx

COMMENTS

Other email:
jbenitez@worldpharma.com.mx (Top Management)
 
 

SUMMARY
Date of foundation	2008
Capital stock	Ps$810,000.= Pesos
permanent employees	14 employees
Chief Executive	BENITEZ FERNANDEZ, JOAQUIN LUIS
Disposition	Report totally prepared by outside sources.
Payments policy	Usually to terms/good
Credit (**)	Risk is Moderate. Within Average. Satisfactory.

LEGAL BACKGROUNDS
LEGAL STATUS	Stock Company of Variable Capital
DATE OF INCORPORATION	25SEP2008
PLACE OF REGISTRY	Mexico F.D.
DURATION	99 years
CURRENT PAID-IN CAPITAL	Ps$810,000.= Pesos
LAST CAPITAL INCREASE	31/12/2011
CLASS OF SHARES	Registered.
CURRENT EXCHANGE RATE (US$)	Ps$13.01 per 1.00 USADollar

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
BENITEZ FERNANDEZ, JOAQUIN LUIS	Director General
GONZÁLEZ MARTÍNEZ, MAURO	General Accountant

WHO IS WHO?
BENITEZ FERNANDEZ, JOAQUIN LUIS
NATIONALITY	Mexican
D.O.B.	02SEP1954
TAX ID	BEFJ-540902-LXA
BACKGROUND INFORMATION	Studied at Staatliche Handelsschule "Am Lämmermarkt" (H2) Hamburg.
GONZÁLEZ MARTÍNEZ, MAURO
NATIONALITY	Mexican

BUSINESS HISTORY

World Pharma Services S.A. de C.V. is a 100% Mexican company which was founded on September 25, 2008 in Mexico City and currently specializes in the direct connection of international manufacturers of active ingredients for drug development, with Mexican pharmaceutical companies for the purpose of selling them. 
 
RELATED COMPANIES: 
The Subject is not related to any other company in the market.

BUSINESS

Main activity

ACTIVITY: World Pharma Services S.A. de C.V. is a company specializing in direct connection of international manufacturers of active ingredients for the development of drugs with pharmaceutical companies in Mexico to coordinate: price, payment terms, delivery dates and in accordance with the quality and documentation required by their customers, in terms of: 
Granulometry 
Pharmacopoeial specifications 
Suitable packaging 
Documentation: Drug Master Files, Certificates of Good Manufacturing Practices (GMP's) International Licensing and Approvals 
 
With particular emphasis on transparency as to the origins and manufacturers of active ingredients. 
 
In terms of current laws and regulations by the Cofepris, World Pharma Services S.A. de C.V. advises international manufacturers of active pharmaceutical ingredients on the most important regulatory issues to comply, in order that they promptly and expeditiously obtain Certificates of Good Manufacturing Practices (GMP'S Certificates) in accordance with existing legislation in Mexico. 
 
World Pharma Services S.A. de C.V. is one of the independent entities that has achieved the highest number of site visits to suppliers in India and China for the benefit of the Mexican pharmaceutical industry. 

Import

Yes

Country

India, China and Switzerland, by direct credit of 120 to 150 days

% Credit SALES / Terms

100% (90-120 days)

% FOREIGN PURCHASES

100%

SELLING TerritorY

National market (100%)

EMPLOYEES

14 employees

LOCATION
PREMISES	Rented
FLOORS	2
AREA	1,100 sqm
OTHER PREMISES	Tax domicile and the administrative offices are located at the above noted address. The facility consists of 2 stories for which they pay a monthly rent of Ps$ 80,000 Pesos and consists of 1,100 square meters. As reference facility is located within an industrial area of the municipality. OTHER LOCATION: The company has no other premises.

Comments

According to customs on November 12, 2008 the RFC (Tax Registration) of the company, was recorded in the Register of Importers (Release No. 2142) under the Folio No. 321272.
 
CLIENTS: The company sells to pharmaceutical, veterinary and food industry in general.

FINANCIAL INFORMATION

Interviewee(s)

C.P.A. Mauro González Martínez

Position(s)

Accountant

Disposition

Report totally prepared by outside sources.

Information provided

We interviewed the C.P.A. Mauro González Martínez (Accountant, who assisted us by providing the information contained in this Report. 
 
Our request for financial statements was declined.
 
C.P.A. González only stated that monthly sales of this company are on the average of US$800,000.= Dollars.
 
He stated he can not provide further business and financial data of the company as it is considered confidential.

SALES

US$ 0.00 ()

FINANCIAL SITUATION

UNDETERMINED
We consider the Financial Situation of the company as Undetermined because lack of financial data prevents us from assessing their current results.

Property of company comments

The company has: 
-Furniture and office equipment 
-Computer equipment 
-Transportation Equipment

INSURANCE

COMPANY	AGAINST	EXPIRATION	AMOUNT
Mapfre Tepeyac S.A. de C.V.

PAYMENTS RECORD: TRADE REFERENCES

(Confidential Information)

Supplier: RASCH S.A. DE C.V.	Tel.: (55) 56101011.	Country: MEXICO
Goods/Services? : Integrated solutions for development of pharmaceut
Highest credit? : N/A
Client since? : Sev.Yrs.	Terms? : 30 days	Performance? : Prompt
Comments : Good Customer
Supplier: ESPECIALISTAS EN ADUANAS Y COMERCIO EXTERIOR	Tel.: (867) 7145757.	Country: MEXICO
Goods/Services? : Customs Service.
Highest credit? : No record
Client since? : Sev.Yrs.	Terms? : Cash	Performance? : No experience

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

Supplier	Country	Comment
GRUPO LOGÍSTICA ARTEAGA Y VARELA S.C.	MEXICO	A trade reference was declined.
AGENCIA ADUANAL GUILLERMO NOGUEIRA Y ASOCIADOS	MEXICO	A trade reference was declinedl.

CREDIT HISTORY

The firm Rasch S.A. de C.V. sells Subject comprehensive solutions for the development of pharmaceutical or industrial processes, from material handling and raw material to finished product, meeting the highest standards of quality and certification, 30-day credit, payments via wire transfer , good customer.

BANKING INFORMATION

Bank

BBVA BANCOMER S.A.

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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.51
UK Pound	1	Rs.85.49
Euro	1	Rs.69.61

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
--	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.