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Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS DUNCAN S.A. |
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Registered Office : |
Llavallol No.4141, (1419) Ciudad de Buenos Aires |
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Country : |
Argentina |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
07.06.1999 |
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Com. Reg. No.: |
2902 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturer & commercialization of medicinal products of human use |
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No. of Employees : |
150 |
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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source : CIA |
LABORATORIOS
DUNCAN S.A.
CUIT No.: 30-52058125-8
COMPANY IS ESTABLISHED IN 1999 WITH THE PURPOSE OF ADDRESSING THE
CONDUCT OF PROCEEDINGS FOR WHICH HAS BEEN ORGANIZED. BALANCE SHEET AS AT
31/03/2013. SIGNATURE FIT FOR NEW OPERATIONS OF CREDITS.
MEDICINAL PRODUCTS OF HUMAN USE
MANUFACTURE
COMMERCIALIZATION
Business type: Public Limited Company
Incorporated: 07/06/1999
REGISTERED: 22/12/1999
Register NO.: 2902
Duration: 99 years
End of fiscal year: March
31st
AFIP. AVDA DE LOS CONSTITUYENTES 5833 PISO
1.4.5.
Miss Stella Solange (Administrative
Officer).
Legal address and Laboratory I: Llavallol No.4141, (1419) Ciudad de Buenos
Aires, Republic Argetina.
Body: Tronador No.543, Ciudad de Buenos Aires, Argentina.
Tel: (54-011) 4514-6820 / 26
Fax.: (54-011) 4514-6828
E-mail: info@labduncan.com.ar
stella@labduncan.com.ar
President:
MAPELMAN MARCELO
Vice President: MAPELMAN VALERIA
Director: MIRIAM LEONOR
MARTINEZ
His leadership and management is in charge of the first two mentioned, in his capacity
as manager using the firm name interchangeably.
The social capital of the company is established in the amount of $
8.830.000 has been fully subscribed and realized, represented by the same
amount of ordinary shares registered non endorsable v / w. $ 1.00 each with the
right to one vote per share.
MAPELMAN MARCELO:
argentinian, single, born on 14/02/1974, entrepreneur, DNI.No. 23.771.504 (CUIT
No.: 20-23771504-8) with address in Dr.Aranguren 1634, 6o.floor, City of
Bs.Aires.
The same history through the following companies:
> JACINTO C. S.A. President
> FRIFARMA S.A.
Alternate Director
Known to be at, it is able to demonstrate that these businesses were
launched several years ago by members of the Flia.Mapelman who, over time
acquired the Laboratory "Physiol.
Due to the momentum that this accounted for their businesses as of 07/06/1999
organizations as the signature holder and continuation, for the purpose
intended, is located at the addresses listed in due course.
We detail in this Balances Sheet at 31.03.2012 and 2013 expressed in
Pesos.
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BUILDINGS:
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The fixed assets of the company, including all the real estate it occupies in
his efforts and that, overall, have significant value realization.
Unable to contact the relevant documentation to see if those goods are exempt
from charges.
CARRIAGES:
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1 Peugeot Partner mod.2000
1 Renault Megane 2004 model Car
1 M. Benz mod.1994 Pick Up
The specific purposes of the owner concerning
the development of generic medicinal products, distinguishing them with other
brands:
> CURIFLAM VL (Diclofenac 50g.)
> BLAMY CREAM (Betamethasone)
> Aphrodite (Ethinylestradiol / Levonorgestrel)
> URSIDESOX AP (ursodeoxycholic acid 450 mg.)
> SAXIOM (Acenocumarol 4mg.)
> RUPEDIOL (Paracetamol)
> SIPAR (Pantoprazole 20 mg.)
> Fontolan (Ibupofreno 2%)
> Eximius (Clotrimazole 1%)
> DUNCAN Clonazepam (Clonazepam)
Account for the normal development of his efforts with a strong infrastructure
and a well-assembled organization which involved 150 employees.
Specific imports from other countries from Spain, Colombia, India, Switzerland,
carrying out exports to member countries of Mercosur.
MAIN SUPPLIERS:
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FARMACAPSULAS (Colombia)
MEDIPHARMA (Alemania)
UNIFARMA S.A. (Argentina)
AMPOSAN S.A.
FOREIGN TRADE:
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In the last twelve months in office, has completed imports by about u$s.625.789
accordance with the following breakdown:
COLOMBIA................U$S 426.671
SPAIN...................U$S 102.061
CHINE...................U$S 32.779
OTHERS..................U$S 64.278
* 150 employees.
Laboratory II: Jose Cubas No.2677, Ciudad de
Buenos Aires, Argentina.
Lab III: Avenida San Martin No.6340 / 2, Ciudad de Buenos Aires, Argentina.
Deposit: Tronador No.229, Ciudad de Buenos Aires, Argentina.
BANCO DE LA NACION ARGENTINA
Branch Mosconi
BBVA BANCO FRANCES
Branch Paternal
BANCO CIUDAD DE BS.AIRES Branch Devoto
BANCO PCIA.DE BS.AIRES Brach Devoto
BANCO SANTANDER RIO Principal
office
CREDIT RISK:
------------
SEPTEMBER 2013
BANCO DE LA NACION ARGENTINA.......$ 7.443.600
BANCO FRANCES......................$ 1.151.500
Situation 1: normal.
INSURANCE:
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LA MERCANTIL ANDINA
LA MERIDIONAL
ZURICH
LA BUENOS AIRES SEGUROS
Maintains online transactions with companies supplying the industry it serves,
many of which will attend to give loans without objections until payment
methods it supports.
* COMPLIANCE: NO COMMENTS.
Based on the revealed in the course of this
review, is considered a viable treatment credit with the firm owner, by
providing current facilities with guards practical importance.
* SUITABLE FOR NEW TRANSACTIONS.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.39 |
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1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
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 |
-- |
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.