|
Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DROGUERIA HOFMANN S.A.C. |
|
|
|
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Registered Office : |
Los Gobelinos 2507 – Renca,
Santiago ,XIII Region Metropolitana |
|
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Country : |
Chile |
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|
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Year of Establishment : |
1953 |
|
|
|
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Legal Form : |
Private Stock Company |
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|
|
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Line of Business : |
Supplies and trading for pharmaceutical and veterinary
areas. |
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|
|
|
No. of Employees : |
150 |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Chile - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high level of foreign trade and a reputation for strong financial institutions and sound policy that have given it the strongest sovereign bond rating in South America. Exports account for more than one-third of GDP, with commodities making up some three-quarters of total exports. Copper alone provides one-third of government revenue. During the early 1990s, Chile's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Since 1999, growth has averaged 4% per year. Chile deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Chile claims to have more bilateral or regional trade agreements than any other country. It has 59 such agreements (not all of them full free trade agreements), including with the European Union, Mercosur, China, India, South Korea, and Mexico. Over the past seven years, foreign direct investment inflows have quadrupled to some $15 billion in 2010, but foreign direct investment had dropped to about $7 billion in 2009 in the face of diminished investment throughout the world. The Chilean government conducts a rule-based countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds during periods of high copper prices and economic growth, and allowing deficit spending only during periods of low copper prices and growth. As of November 2011, those sovereign wealth funds - kept mostly outside the country and separate from Central Bank reserves - amounted to more than $18 billion. Chile used this fund to finance fiscal stimulus packages during the 2009 economic downturn. In December 2009, the OECD invited Chile to become a full member, after a two year period of compliance with organization mandates, and in May 2010 Chile signed the OECD Convention, becoming the first South American country to join the OECD. The economy started to show signs of a rebound in the fourth quarter of 2009, and GDP grew 5.1% in 2010 and 6.5% in 2011. Chile achieved this growth despite the 8.8 magnitude earthquake that struck in February 2010, which was one of the top 10 strongest earthquakes on record. The earthquake and subsequent tsunamis it generated caused considerable damage near the epicenter, located about 70 miles from Concepcion - and about 200 miles southwest of Santiago.
|
Source : CIA |
DROGUERIA HOFMANN S.A.C.
Los Gobelinos 2507 - Renca
Santiago
XIII Region Metropolitana
CHILE
Telephone : 56-2-24356000
Fax : 56-2-24356070
E_Mail : tomasf@hofmann.cl /
jjimenez@hofmann.cl, comercial@hofmann.cl / drogueria@hofmann.cl
Web Site : www.hofmann.cl
SUMMARY
Started : 1953
Total
Employees
: 150
Payments :
Prompt
Capital :
000's$ 1.203.666.-
Sic(s) : 5122
Line of Business: Supplies and trading for pharmaceutical and veterinary areas.
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL INFORMATION
Commercial Bulletin : As at 28/01/2013 subject does not register protested
checks, bank drafts nor promissory notes in the
commercial information bulletin
Labor Bulletin : As at 28/01/2013 does not register work
infringements
Previsional Bulletin : As at 28/01/2013 does not register social
security
infringements
Consolidated delinquency : As at 28/01/2013, subject does not register any
delinquent bill
TRADE REFERENCES
No credit experiences to date were obtained
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Old Owes
Purch. Credit
Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1993 07-10 Prompt current
account
Open
None
Since 1999 08-10 Prompt
invoice
45.000 None
Since 1993 10-09 Prompt current
account
Open None
Since 1993 09-08 Prompt current
account
Open
-
15 years 10-07 Prompt current
account
Open
-
20 years 10-07 Prompt invoice &
check
Open
-
20 years 05-07 Prompt invoice
&
check
Open
-
15 years 04-07 Prompt current
account
Open None
15 years 07-06 Prompt current
account
Open None
20 years 07-06 Prompt
checks
-
-
10 years 08-05 Prompt
invoice
700.000
-
15 years 08-05 Prompt
invoice
Open
-
10 years 08-04 Prompt
invoice
700.000
-
10 years 08-04 Prompt
checks
30.000
-
During the last 6 months, the account holder credit history shows 19 credit
review inquiries requested by financial institutions, credit reporting
agencies,
transportation companies, industries.
The account holder credit report reflects no delinquent payment history, no
protests,
and no social security and/or work infringements as of the date of
this
report.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following banks:
- Banco de Chile, main office Ahumada 251, Santiago
- Banco Santander Chile, main office Bandera 140, Santiago
- Banco Security
OPERATIONS
Line of Business : Supplies for
the pharmaceutical and veteninary area. Import,
distribution and sale of
general consumption products,
pharmaceutical, medical,
agroveterinary products of high
quality and technology,
as well as development of brands.
Baby cosmetics, diapers,
olive oil, fertilizers, natural
oils, pets products,
hazelnut-based products, etc.
Classification according to commercial activity:
Sic: 5122-0000 Drugs, proprietaries, and sundries
-0101 Cosmetics
-0301 Animal medicines
-0308 Pharmaceuticals
Commercializes
- BAMBINO, Diapers
- BOSQUE NATIVO, Ulmo Honey
- CEREALKO - IGORA BLONDE
- COLMENARES DE PILLAN y REÑIHUE
- DEINAL - IGORA VITAL - KADY
- KAPPUS - LA PEDRIZA
- MONARI FEDERZONI - OXIGENTA
- ROCCHI - SCHWARZKOPF
- SEBORIN - SUCARYL - TAFT
- BD - CIRUGIA - EUROMEDICAL
- JOSTRA - POLYSTAN - MEDIKIT
- MEDLINE - METRO - NOBA - ORFIT
- PARAGON -SPS - SSL - TUBIGRIP
- UNOMEDICAL
- VERNONCARUS - PARANET
- MENTHOLATUM -RIDER SWEET
- AQUAPRO - CALORUB - HOFSA LINE
- LIP-ICE - MICROLIFE
- 3 M
- BIGELAW
- TAGUM
- TRIM
- DENTILIX
Subject is considered as a large company in this line of business, normal
competition
Sales
Sales are steady throughout the year
100% wholesalers
National sales territory
Products are sold
National: 100%.
Sales conditions: 1% cash and 99% credit.
Historical exports registered in the
Customs National Services
Total 2010 = 000's$ 1.147
Total 2009 = 000's$ 0
Total 2008 = 000's$ 17.502
Total 2007 = 000's$ 27.503
Total 2006 = 000's$ 25.629
Total 2005 = 000's$ 19.209
Total 2004 = 000's$ 19.387
Not exporting currently
Customers
Main customers are: Restaurants, supermarkets, wholesale,
line of business'
distributors, drugstores, department stores, perfumer's
trade, hotels.
Purchases
Domestic and international purchases
National: 20%
International: 80%
Imports from Germany, Argentina, Australia, Belgium, Brazil, China, Colombia,
South Korea, Denmark, Spain, Hong Kong, India, England, Israel, Italy, Peru,
Taiwan and United States.
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
China
44,71 45,08
Peru
16,20 12,88
United
States
12,20 19,22
Germany
6,43 5,62
England
4,59 2,86
India
3,96 2,86
Brazil
3,54 2,63
Argentina
2,53 2,86
Italy
1,20 0,86
Taiwan
1,00 1,74
Belgium
0,95 0,75
Israel
0,92 0,37
Spain
0,58 0,54
South
Korea
0,45 0,50
Colombia
0,11 0,11
Denmark
0,08 0,68
Hong
Kong
0,00 0,00
Australia
0,00 0,00
Historical registries
Total 2011 = 000's$ 4.648.162 Accumulated 2012 = 000's$ 4.650.159
Total 2010 = 000's$ 3.966.688
Total 2009 = 000's$ 2.866.580
Total 2008 = 000's$ 4.569.523
Total 2007 = 000's$ 2.855.482
Total 2006 = 000's$ 2.455.383
Total 2005 = 000's$ 2.265.902
Total 2004 = 000's$ 1.892.262
National suppliers
- 3M Chile S.A.
- Becton Dickinson de Chile
- Praxair Chile Ltda.
Foreign suppliers
- Medipharma (Peru)
- Sibo (China)
- Xanax (Mexico)
Employees: 150 employees
Location
- Industry and administration offices are located at Los Gobelinos 2507
Renca
Santiago, Chile, commercial area, main street of commercial
traffic,
construction in good conditions
Branches
Subject does not have any branch
RELATED COMPANIES
Subject is related to the following companies:
- Inmobiliaria Los Gobelinos S.A. (through shareholder)
- Inmobiliaria Esmeralda Ltda. (through shareholder)
FIXED ASSETS
Real estates
Subject registers real estates
- Premises, Isidora Goyenecha 2960 Las Condes Santiago-Chile, Fiscal
value of
000's$ 483.133.-, rol Nº 297-1
- Sites, Panamericana Norte 550 Lt 16 Renca Santiago-Chile, Fiscal value
of
000's$ 37.241.-, rol Nº 218-193
Total fiscal appraisal $520.374.669.-
Inmobiliaria Esmeralda Ltda., is the owner of the property located at
captioned address.
Vehicles
Owns vehicles for the
company's use
14 vehicles of various models & brands .
Machinery & Instalations
Equipments and machinery, not specified
INSURANCES
Insurance Company:
-Compañia de Seguros de Credito Continental S.A.
-Liberty Cia. de Seguros Generales S.A.
Due
: Unspecified due dates
In force : Annual
Risks : All
risks.
Objetive : Assets in general.
BOARD OF DIRECTORS
President
: Rodolfo Hofmann Jacobson TAX:1228982-0
Director
: Jeanette Silvia Hofmann Pfeffer TAX:5106380-5
Director
: Sonia Regina Hofmann Pfeffer TAX:6064641-4
Director
: Susanne Pfeffer Goldman TAX:1531181-9
ADMINISTRATION
Director and General : Jeanette Silvia Hofmann Pfeffer
TAX:5106380-5
Manager
Director and : Sonia Regina Hofmann Pfeffer
TAX:6064641-4
Development Manager
Finances Manager : Oscar
Navarro Astudillo
Controller
: Thomas Freudengerg Neter
Accountant : Julio Jiménez Doñas TAX:8037323-6
CURRICULUM
Julio Jiménez Doñas
T A
X
: 8037323-6
Studies
: Graduated at Universidad de Chile .
Titled as :
Pharmaceutical Chemist.
LEGAL INFORMATION
Legal Structure
: Private Stock Company
Constitution date :
12/05/1964. Registered on leaf 4.884 N°2.571 of the
Santiago Trade Registry, year 1964, before Notary Luis
Azócar Alvarez.
Term of duration
: Indefinite
Legal Address : Santiago - Chile
Current Social Capital: 000's$ 1.203.666.-Divided to 64.000.- registered shares
unique series
Shareholder : 2
- 50,00% Inversiones Sondav Chile S.A.
- 50,00% Inversiones Jeanher Chile S.A.
Power of attorney held by Director and General Manager.
Legal changes
Public Deed dated 10/05/1989, notary Jaime Morandé Orrego, Santiago, published
in the Official Gazette dated 17/05/1989 page N° 8, capital was increased: from
$156.000.000 divided into 40.000 shares, to $633.600.000 divided into 64.000
shares of $9.900 shares of nominal value $ 9.900 each one.
Public Deed dated 01/06/1989, notary Jaime Morandé Orrego, Santiago, published
in the Official Gazette dated 19/06/1989 page N° 9, capital was increased: from
$633.600.000 divided into 64.000 shares of a nominal value of $9.900 each one,
to $832.640.000 divided into 64.000 no par value shares.
Public Deed dated 21/06/1994, notary Jaime Morandé Orrego, Santiago, published
in the Official Gazette dated 23/07/1994 page N° 14, statutes were modified:
Subject was divided into three companies. One of them will keep subject's
business name, and will continue the same current line of business, taking the
assets and liabilities indicated on deed (subject). The other two companies
created from this division will be named "Inversiones La Reina" and
"Inversiones
Los Herreros S.A.", both of them will be engaged in investment in real
estates,
goods and chattels, securities and others.-
Once the net worth was distributed among the three companies, it was
stipulated that subject's capital will be $ 1.203.665.911.- divided into 64.000
no par value and equal shares - totally subscribed and paid - and a new
rewritten text of statutes was established indicating that subject's business
name will be "Droguería Hofmann S.A.C.", addressed in Santiago with
indefinite
term of duration. Its line of business will be development of pharmaceutical
wholesaler in the most ample forms, and the purchase and sale, import and
export
of specific products, drugs, toiletries and others alike.
Public Deed dated 05/04/2005, notary Alvaro Bianchi Rosas, Santiago, published
in the Official Gazette dated 20/04/2005 page N° 9, corporate purpose was
modified: to the import, export, purchase, sale, distribution, production,
elaboration and conversion, rental, brokerage or any other form of development
of any and every type of movable goods, such as raw materials,
semi-elaborated/manufactured products of industrial, commercial, agricultural,
fruit, plantation or cattle, material or non-material business nature, by self
or third parties account, specially sweeteners, food for human and animal
consumption, canned food, sodas, liquor and diet beverages, juices, and alike,
hospital and/or clinic supplies, home articles and ware, and also hardwares,
fertilizers and seeds, patents, methods, systems, machinery, and other tangible
and intangible assets for the chemical, veterinary, cosmetic, and
pharmaceutical
industries' activities in general, and also for cleaning, sanitization and
industrial cleaning, home and personal cleaning.
HISTORY
Subject was founded in the 50's by Rodolfo Hofmann Jacobson. It was
originally engaged in the distribution of pharmaceutical products.
INFORMATION SOURCES
On 30/01/2013 Miss. Gladys Zamanillo, General Manager Assistant, declined
financial figures, however, submitted the data shown in this report.
-Other outside information sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.52.97 |
|
UK Pound |
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.