MIRA INFORM REPORT

 

 

Report Date :

04.02.2013

 

IDENTIFICATION DETAILS

 

Name :

WORLD PHARMA SERVICES S.A DE C.V.

 

 

Registered Office :

Prolongación Industria Textil 17, Col. Parque Industrial Naucalpan, 53489 Naucalpan de Juárez / Estado México

 

 

Country :

Mexico

 

 

Date of Incorporation :

25.09.2008

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Specializes in connecting international manufacturers of active ingredients for drug development, with Mexican pharmaceutical companies interested.

 

 

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 :

No Complaints

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

(31.03.2011)

Current Rating

(30.06.2012)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MEXICO - ECONOMIC OVERVIEW

 

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico''s GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.

Source : CIA

 

IDENTIFICATION

 

CORRECT COMPANY NAME

WORLD PHARMA SERVICES S.A DE C.V.

TRADE NAME

WORLD PHARMA SERVICES

TAXPAYER REGISTRATION

RFC WPS0809251H1

MAIN ADDRESS

Prolongación Industria Textil 17, Col. Parque Industrial Naucalpan,

POSTAL CODE

53489

PROVINCE / DEPARTAMENT

Naucalpan de Juárez / Estado México

COUNTRY

MEXICO

TELEPHONE

(5255) 55752948

E-MAIL

amarquez@worldpharma.com.mx

WEB

www.worldpharma.com.mx

COMMENTS

 
We clarify that the correct tax registration number is shown above in the report.
 
We further recall that the order came without phone number to expedite our investigation.

 

SUMMARY

 

Date of foundation

2008

Capital stock

Ps$810,000.= Pesos

Annual revenues

US$ 10,000,000.00 (31DEC2012)

permanent employees

14

Chief Executive

BENITEZ FERNANDEZ, JOAQUIN LUIS

Disposition

POOR (Politely provided very few information).

Payments policy

Usually to terms/good

Credit (**)

Risk is Minimal, Solvent, Satisfactory Financial Situation.

 

 

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

25SEP2008

PLACE OF REGISTRY

Mexico D.F.

DURATION

99 years

CURRENT PAID-IN CAPITAL

Ps$810,000.= Pesos

LAST CAPITAL INCREASE

31/12/2011 (Last registered)

CLASS OF SHARES

Registered.

CURRENT EXCHANGE RATE (US$)

Ps$12.69 per 1.00 USADollar

COMMENTS

 
We were unable to obtain further registration details of this company, share capital nor more personal data of its members.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

BENITEZ FERNANDEZ, JOAQUIN LUIS

General Director

 

 

GONZÁLEZ MARTÍNEZ, MAURO

General Accountant

 

 

NAIR, RAGESH

Commercial Director

 

 

 

 

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.

 

 

NAIR, RAGESH

NATIONALITY

Indian

 

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 connecting international manufacturers of active ingredients for drug development, with Mexican pharmaceutical companies interested.
 
RELATED COMPANIES: 
The Subject is not related to any other company in the market.

 

 

BUSINESS

 

SIC Classification
7 3 - BUSINESS SERVICES. (Exports, Collections, credit reports, advertising agencies, marketing, statistics.TI)

Main 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 times, 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

Export

No

% Credit SALES / Terms

100% (90-120 days)

% FOREIGN PURCHASES

100%

SELLING TerritorY

National market (100%)

EMPLOYEES

14

 

LOCATION

 

PREMISES

Rented

TIME OCCUPIED

2008

FLOORS

2

AREA

1,100 sqm

OTHER PREMISES

 
Heading address corresponds to the administrative offices and the company's tax residence located in an industrial area. The facility consists of two levels for which they pay a monthly rent of Ps$80,000. = Pesos, surface area : 1,100 m2
 
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)

Ms. Sara Ponce

Position(s)

Assistant Manager (Authorized)

Disposition

POOR (Politely provided very few information).

Information provided

 
On management instructions, the interviewed person kindly provided general and operational data of the company and released the approximate turnover achieved during the year 2012. She said it would not be possible to reveal further financial data because she was not authorized.
 
We have used other reliable sources to supplement information, it was virtually impossible to obtain complete balance sheets nor further reference figures by the said sources.

 

 

SALES

US$ 10,000,000.00 (31DEC2012)

FINANCIAL SITUATION

 
A-: SATISFACTORY
Although we have no complete balances that allow us to determine Subject's actual condition, we point given its sales volume reached in 2012 coupled with good references given by its suppliers and  absence of negative, that we conclude the subject is operating smoothly.

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

EXPIRATION

AMOUNT

MAPFRE TEPEYAC S.A. DE C.V.

 

 

 

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

 

(Confidential Information)

TRADE REFERENCES

Supplier: AGENCIA ADUANAL GUILLERMO NOGUEIRA Y ASOCIADOS

Tel.: (52 686) 5669471

Country: MEXICO

Goods/Services? : Customs Service

 

 

Highest credit? : US$ 4,000.=

 

 

Client since? : 2006

Terms? : 30, 45 days

Performance? : Prompt

Supplier: GRUPO LOGÍSTICA ARTEAGA Y VARELA S.C.

Tel.: (52 55) 57999764

Country: MEXICO

Goods/Services? : Customs service

 

 

Highest credit? : No specified

 

 

Client since? : 2007

Terms? : 15,30 days

Performance? : Prompt

Supplier: RASCH S.A. DE C.V.

Tel.: (52 55) 56101011

Country: MEXICO

Highest credit? : N/A

 

 

 

 

Performance? : Prompt

Comments : We are awaiting the response to our request

Supplier: ESPECIALISTAS EN ADUANAS Y COMERCIO EXTERIOR

Tel.: (52 867) 7145757

Country: MEXICO

Highest credit? : n/a

 

 

Comments : No contact could be made with the company.

 

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

 

Supplier

Country

Comment

TABERA PHARMA GMBH

SWITZERLAND

 

SARACA LABORATORIES LIMITED

INDIA

 

VIRCHOW LABORATORIES LIMITED

INDIA

 

POLYDRUG LABORATORIES PVT LTD.

INDIA

 

MEHA CHEMICALS

INDIA

 

 

CREDIT HISTORY

Earlier reports showed a clean trade record, no negative incidents.

 

BANKERS

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.

 

 

GENERAL INFORMATION

 

REPUTATION

 

NOTHING AGAINST COMPANY

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.32

UK Pound

1

Rs.84.60

Euro

1

Rs.72.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.