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Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS IMA
S.A.I.C. |
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Registered Office : |
Palpa 2870/86 (1426) Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
29.12.1961 |
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Legal Form : |
Public limited company |
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Line of Business : |
Development and
Marketing of medicinal products for human use. |
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No. of Employees : |
85 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 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.
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Source : CIA |
LABORATORIOS IMA
S.A.I.C.
C.U.I.T.: 30-50372092-9
INCORPORATED IN 1961. BEGINNER OF ACTIVITIES. BALANCE SHEET AT 31/12/2010 (LAST KNOWN). NO NEGATIVE REGISTERED. FIT FOR CREDITS OF PRUDENTIAL IMPORTANCE AND ADDITIONAL SECURITIES.
> MEDICINAL
> PREPARATION
> MARKETING
Legal form:
Public
limited company.
Created: 29/12/1961.
Duration: 99 years.
End of fiscal year: 31
December.
AFIP: 01/01/1957.
Ag Afip: Nº 1 - Av.Cabildo 999, CABA.
Accountant: DANIEL SORSANA
Legal and operative address: Palpa
2870/86 (1426) Buenos Aires City, Repúblic of Argentina
Phone-fax. (54-11)
4554-0507
email: administracion@laboratoriosima.com.ar
daniel.sorsana@laboratoriosima.com.ar
> PRESIDENT
MARIA GISELA PIROS
> ALTERNATE DIRECTOR SERGIO ROBERTO ALVES DE BARROS
REGINA
Using social firm, in charge of the first two character before mentioned in the
company's legal representatives. -
Social Capital: $ 5.000.000.
Laboratories IMA S.A.I.C. (Industria Medicinal Americana) with presence in the domestic industry since 1962, is a specialty lab medicinal products for human use, entirely Argentine capital.
Figures of last Balance
Sheet as 31/12/2010, expressed in pesos. (LAST KNOWN)
> BALANCE SHEET 31/12/2010.
> GENERAL STRUCTURE.
> ASSETS CURRENT $
11.331.000
> ASSETS NO CURRENT $
5.902.000
> TOTAL ASSETS $ 17.233.000
> LIABILITIES CURRENT $
4.814.000
> LIABILITIES NON-CURRENT $ 675.000
> TOTAL LIABILITIES $ 5.489.000
> NET WORTH
$ 11.744.000
> TOTAL SALES $ 26.103.000
> FINAL UTILITY $
3.768.000
Assets
* REAL ESTATE:
--------------
Palpa 2870/86 (1426) Buenos Aires City, Repúblic of Argentina, surface of
* VEHICLES:
-----------
1 CAR PEUGEOT 307 MODEL 2010
> AIR LIQUID ARGENTINA
S.A.
> CABELL S.A.
* TERMNS: 30/60/90 days.
* PRODUCTS: Raw material.
* AMOUNTS: U$S 1.000.000 annuals.
* CONCEPT: Normal.
National company entirely
dedicated to the development and marketing of medicinal products for human use.
Specifically the manufacture of injectable dosage forms in solution cytostatic
small volume and lyophilized injectable dosage forms cytostatic.
Major products we can mention the following.
> CARBOPLATINO IMA
> CICLOFOSFAMIDA IMA
> DOXIMA
> DOXORUBICINA
> EPIRUBICINA IMA
> MITOMICINA C IMA
> ONDASETRON CEBEDOC
> VINORELBINA IMA
In 1997, IMA starts recording and marketing their products exclusively abroad.
Certifies its plant for MERCOSUR, ANVISA and INVIMA.
In 2004 dedicates all areas of its production facility that manufactures
medical specialties and Oncology Lyophilized injectable solution.
Thus changes its structure in order to adapt to the demands of national and
international standards.
It has areas classified Class B with environment, aimed at splitting solution
injectable medicinal products, designed, operated and controlled under strict
procedures based on national and international standards which ensure the
quality delivery of outputs.
Its quality control department, is comprised of segments of chemical and
microbiological analyzes to carry out the verification of compliance with
established quality especifiacciones for the various stages involved in the
manufacture of products for export as its own line so too the cotrol in the
preparation process to third parties.
Its products are developed ccon BPM requirements and BPL.
They cover the whole country, exporting a percentage of its annual production
to around the MERCOSUR and MEXICO.
* FOREIGN TRADE:
----------------
In the last twelve months, it has made specific imports by u$s.300.520
according to the following detail:
GERMANY $ 77.129
HONG KONG $ 70.921
CHINE $
52.898
OTHERS $ 99.573
* MAIN SUPPLIERS:
-----------------
> AIR LIQUID ARGENTINA S.A.
> CABELL S.A.
> CHEMICAL CENTER SRL
* 85 EMPLOYEES
> BANCO PATAGONIA
> BCO. MACRO
> BCO. FRANCES
> HSBC
CREDIT RISK OCTOBER 2012:
-------------------------
> BCO. PATAGONIA $ 709.400
> HSBC $ 51.000
> BCO. FRANCES $ 42.900
> ITAU $ 500
SITUATION 1: NORMAL
* INSURANCE:
------------
> MAPFRE S.A.
> FEDERACION PATRONAL SEGUROS S.A.
> SMG SEGUROS S.A.
It is commercially
related to companies of this one and other places, good part of which offer its
credit support without making until the moment objections on the modes of
payment that it sustains.
* FULFILLMENT: NOT OBJECTED.
The lack of negative
antecedents makes viable the credit relation with the company, through
facilities that are in accordance to its importance in the sector.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
UK Pound |
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
<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.