MIRA INFORM REPORT

 

 

Report Date :

21.11.2012

 

IDENTIFICATION DETAILS

 

Name :

Quimica Luar S.R.L.

 

 

Registered Office :

Hualfin 359, Cordoba (Cordoba)

 

 

Country :

Argentina

 

 

Date of Incorporation :

03.10.1977

 

 

Legal Form :

Liability Limited Company

 

 

Line of Business :

Drug development for human use.

 

 

No. of Employees :

12

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Argentina

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ARGENTINA - ECONOMIC OVERVIEW

 

Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and a bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in early 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy has rebounded strongly from the 2009 recession, but the government's continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation.

 

Source : CIA

 

Important Note:

In the absence of financials, we cannot recommend credit limit.

 

 

Registered Name 

 

QUIMICA LUAR S.R.L.

 

C.U.I.T. 30-56773653-5

 

 

Summary 

 

INCORPORATED IN 1977. WITH THE OBJECTIVE OF PERFORMING ITS CURRENT ACTIVITIES. ITS POLICY IS NOT TO SUPPLY FINANCIAL INFORMATION TO THIRD PARTIES. IT DOESN'T REGISTER BACKGROUNDS THAT COULD AFFECT IT. FIT FOR OPERATIONS OF MEDIUM IMPORTANCE AND WITH ADDITIONAL SECURITIES.

 

 

Operations 

 

Drug development for human use.

 

 

Legal Structure 

 

LEGAL FORM:         LIABILITY LIMITED COMPANY

CREATED:            03.10.1977

REGISTERED RPC:     06.02.1978

DURATION:           01.02.2037

END OF FISCAL YEAR: 30.04

 

 

Contact 

 

Legal and operative address: Hualfin 359, Cordoba (Cordoba) REPUBLIC of ARGENTINA.

Phone-fax: 54. 0351-480.7426/480.8009


E.Mail: quimicaluar@quimicaluar.com.ar

administracion@quimicaluar.com.ar

Web:    www.quimicaluar.com.ar

 

Annex: Avda.Japon 2000, Cordoba. REPUBLIC of  ARGENTINA.

 

 

Partners 

 

PARTNERS:
       LUIS ALBERTO ARGAÑARAS (H)

       LUIS ALBERTO ARGAÑARAS (P)

       BEBA NILDA ELENA PEREZ

       MARIA CRISTINA ARGAÑARAS

 

Using signature: It is the responsibility of the first such character in Manager.

 

 

Corporate Stock 

 

The contractual capital amounts to $ 20,000 is provided in the following proportions:


LUIS ALBERTO ARGAÑARAS (H)      $ 14.000

LUIS ALBERTO ARGAÑARAS (P)         2.000

BEBA NILDA ELENA PEREZ             2.000

MARIA CRISRINA ARGAÑARAS           2.000

 

 

History 

 

The reference actividadesde were initiated and implemented by this society, which is governed by the legal provisions mentioned above.


Specializes in cystic fibrosis and rheumatic diseases.


Química Luar is a laboratory Argentine medicinal preparations born in the city of Cordoba in 1978. With a strong and growing regional presence expands its products nationally and internationally, always sustaining his philosophy: create products of the highest quality and therapeutic effectiveness, developing products that represent significant advances over existing drugs on the market.

 

 

Economic-Financial Position 

 

The responsible members of society do not provide accounting information, and inquiries made through third parties.

 

 

Assets 

 

REAL ESTATE:

------------
- Hualfin 359, Cordoba (Cordoba)REPUBLIC of ARGENTINA.

Surface of 1200 m2.


- Avda.Japon 2000, Cordoba REPUBLIC of ARGENTINA.

 

 

Evolution and Results 

 

This society is dedicated to the development of the activities mentioned above, with the required operational structure.

Add the following brands:


BELBARMICINA          COBADENYL

DESCONECT             DEZABVELBAR

FYTHE                 KAL ORAL

LAGRIMA LUAR          LEVUNOLOL

LUARACINA             NARCU

TIMOBELBAR            (ENTRE OTRAS)



* 12 employees


Operated with the following countries: VENEZUELA, COLOMBIA, ECUADOR, PERU, BOLIVIA, BRASIL, GUYANA, SURINAME, FRENCH, GUIANA, PARAGUAY, CHILE, URUGUAY, ARGENTINA AND OTHERS.

 

 

Branches 

 

OPERATIVES ADDRESS:

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

Córdoba

Direcciones:

Hualfin 359 - X5003GZE - Córdoba – Argentina

Av. Japón 2000 - X5019BHT - Córdoba – Argentina


Tel/Fax:
0054-0351-4807426 /8009


Buenos Aires

DIVISIÓN FARMACEUTICA


Capital Federal Tel, Cel. 011-153-171-2861

quimicaluarjm@quimicaluar.com.ar

Tucuman
OFICINA COVADENYL


Drogueria Pharmatuk

Bernabe Araoz 279

Tel. 0381-4350430

Cel. 0381-154099579

covadenylmaq@quimicaluar.com.ar

Rosario
REPRESENTANTE DE COVADENYL


Francisco Pettinato

J.J. paso 6140 -0005

Cel. 0341-153456337

0341-155093909

 

 

Payment Record and Credit Risk 

 

BANCO DE GALICIA Y BUENOS AIRES

BANCO MACRO

BANCO DE LA PROV. DE CORDOBA


INSURANCE:
----------
> SANCOR LIMITADA

F> EDERACION PATRONAL


CREDIT RISK AUGUST OF 2012

---------------------------
BANCO DE GALICIA     $ 307.700

BANCO MACRO             52.500

AMERICAN EXPRESS        19.900


SITUATION 1, NORMAL.

 

 

Concept 

 

At local level there is no existance of complaints about its payment record.


* FULFILLMENT: NOT OBJECTED

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.91

UK Pound

1

Rs.87.38

Euro

1

Rs.70.23

 

INFORMATION DETAILS

 

Report Prepared by :

SMN

 

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.