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Report Date : |
09.08.2013 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIO INTERNACIONAL ARGENTINO S.A. |
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Registered Office : |
Tronador Tabaré No.1641 (C1437FHM), Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
24.04.1975 |
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Com. Reg. No.: |
27/11/1975 - Nº 2084,
Folio 51, Book 67 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Subject engaged in the production and development of hospital medicaments, manufacture of injections, disinfectants, pills, syrups, drops, etc. |
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No. of Employees : |
890 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Argentina |
B1 |
B1 |
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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 |
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 an unprecedented 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 -
at the time the largest ever - 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 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 in 2010
rebounded strongly from the 2009 recession, but has slowed since late 2011 even
as the government continued to rely on expansionary fiscal and monetary policies,
which have kept inflation in the double digits. The government expanded state
intervention in the economy throughout 2012. In May the Congress approved the
nationalization of the oil company YPF from Spain's Repsol. The government
expanded formal and informal measures to restrict imports during the year,
including a requirement for pre-registration and pre-approval of all imports.
In July the government also further tightened currency controls in an effort to
bolster foreign reserves and stem capital flight.
Source
: CIA
LABORATORIO
INTERNACIONAL ARGENTINO S.A.
BEFORES: FADA PHARMA S.A.
CUIT: 30-50167689-2
FOLLOWER OF
ACTIVITIES. INCORPORATED IN 1975. BALANCE SHEET AS OF 31/12/2011: LAST KNOW. NO
NEGATIVE REGISTERED. APT FOR CREDIT IN RELATION TO YOUR RESOURCES KNOWN AND
WITH ADDITIONAL GUARANTEES.
MEDICINAL
SPECIALITIES
CHEMICAL PRODUCTS
ELABORATION
EXPORT
COMMERCIALIZATION
Business type:
Public Limited
Company
Incorporated: 24/04/1975
Registered: 27/11/1975
- Nº 2084, Folio 51, Book 67
Duration: Until
27/11/2074
End of fiscal year: December 31st
AFIP nro 20 de calle Defensa 135 Subsuelo, CABA.
Miss Marcela
Castro (Administration).
Legal address and Main Administration: Tronador Tabaré No.1641 (C1437FHM),
Buenos Aires City, Argentine Republic.
Phone: (54-11) 4918-9492/5217-3200
Website: www.fadapharma.com
President:
GUSTADO
ENRIQUE GARRIDO
Vice-president: AGUSTIN
EGUIGUREN CORREA
Director: VICTOR
JULIO CHUNCO
Alternate Director: ALBERTO
EGUIGUREN
The first two mentioned ones, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
In the
Extraordinary Assembly of 28/12/2012 it was decided to increase such amount to
$ 19.494.952 to $ 29.494.952.
EGUIGUREN ALBERTO:
------------------
chilean, married, born 20/09/1942, DNI.60.240.332
(CUIT No.20-60240332-8) with address Lima 369, 11o."E" Buenos Aires
City.
Registered at the following companies:
> TRILENGA S.A.
President
> POLYGON LABS S.A.
President
> LABORATORIOS HEXA S.A. President
> MANAGEMENT S.A.
Director
> HAZT LABSHA S.A.
President
> AHIMSA S.A.
Director
> FARMA SYSTEM S.A.
President
According to our
investigations, FADA IC Y FARMACEUTICA S.R.L. was incorporated at the end of
1975 with the objective of performing the mentioned activities.
It operated without changes until 24/04/2001, date in which it changed its
original name to the current one.
Its original corporte stock belonged to WALZER INTERNATIONAL S.A., which later
on passed to the power of POLYGON LABS S.A.
Before have legal and administrative address in Tronador No.4890 (1430), Buenos
Aires City.
Act of Special Meeting For the June 15, 2011 was reformed social status, in its
article 1, which remained drawn as follows:
ATORIO INTERNACIONAL ARGENTINO S.A., CONTINUOUS RUNNING FORMED WITH THE NAME OF
FADA INDUSTRIAL COMERCIAL Y FARMACEUTICA S.R.L. AND THEN CONVERTED BY FADA
PHARMA SA
Balance sheet
at 31/12/2011 (last know) provide others sources.
Expressed in pesos:
$
Assets Current:
372.530.180
Assets Non-Current: 171.254.191
-------------
Liabilities Current: 327.254.655
Liabilities Non-Current: 21.404.321
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Net Worth:
195.125.395
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Sales:
338.110.124
Loss Utility:
25.605.645
ECONOMIC REVIEW OF SUCH EXERCISE:
---------------------------------
The above figures show high debt levels with adequate liquidity, having closed
the period with a negative result, equivalent to 7.6% of the billing. -
In relation to the immediately preceding fiscal year was an increase in sales
of 49.9%, while major setback was the end result.
It should be mentioned that so far the actions of the company has been saying
normally. -
REAL ESTATE:
------------
Inside the company's fixed assets are included the properties that it has in
the previously exposed addresses, which as a whole have an important
realization value.
-Tabare 1641, superface total of
-calle 12 de octubre 4444, surface total of strengthen
According to our
registered information, the company is engaged in the production and development
of hospital medicaments, manufacture of injections, disinfectants, pills,
syrups, drops, etc.
It operates in the previously exposed address, where it has two plants, which
are well installed and stocked of modern technology.
TRADEMARKS:
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ALGIOPIRET AMINOXIDIN
ANSIOBUTINA ANTOBIOCILINA
ARLAMINE ATERNOMINE
BESUBIAL BIABLAN
CARDIOPINA CEFAGRAND
CICATRINA DATUR
DUVIG
ESPLENOQUINA
FADA
FADAFLEX
FARMANIA FOSFITONE
IBULITO LARSENEX
MELGIB MINICIDEZ
REGULEV SIMACAS
TERAPROST TUDOR
VESTISAC VIAFUROX
In Quilmes produces solid orals, injectables and creams, has an area of
FOREIGN TRADE:
--------------
In the last twelve months it has carried out imports for a total value of u$s
10.056.349 from Chine, Spain and Peru.
NATIONAL SUPPLIERS:
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DROGUERIA SAPORITI S.A.(Argentina)
MEDICAL GLASS S.A. (Argentina)
BULNET (China)
CHEMAGIS (India)
UNIPHARMA S.A. (Argentina)
* 890 EMPLOYEES
1) Industrial
Plant: 12 de Octubre No.4444, Quilmes, Buenos Aires Province.
2) Alternate address: Tronador 4890 piso 11 Buenos Aires City.
BANKS:
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ICBC BANK
SANTANDER RIO
BANCO PATAGONIA
BANCO DE LA NACION ARGENTINA
BANCO DE GALICIA Y BUENOS AIRES
CREDIT
RISK:
------------
MAY 2013
ICBC
40.716.100
SANTANDER RIO
-
BANCO PATAGONIA
14.228.700
BANCO NACION
10.070.800
BANCO DE GALICIA Y BS.AS. 8.532.500
BANCO FRANCES
-
BANCO ITAU ARGENTINA
4.889.300
BANCO CIUDAD BS.AS.
4.452.200
BANCO PROV. BS.AS.
3.544.700
BANCO COMAFI
1.335.000
BANCO MARIVA
710.200
BANCO INDUSTRIAL
388.600
AMERICAN EXPRESS
361.000
CITIBANK
3.700
Situation 1: Normal Fulfillment.
It is commercially
related with national and mainly foreign companies. Some of them give it their
credit support, not making up to now objections about its payment record.
* FULFILLMENT: NOT OBJECTED
The credits will
be realized in relation to your resources known and with appropriate safeguards.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.