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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
FARK CORP S.A. DE C.V. |
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Registered Office : |
Luis Lusati Mz. 12 Lt. 14, Col. México Nuevo, 52966 Municipio Atizapán
de Zaragoza |
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Country : |
México |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.06.1994 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
The Subject is engaged in the purchase, sale, import of raw materials
for the pharmaceutical, veterinary, cosmetic and food industries. |
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No. of Employees : |
10 |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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México |
A2 |
A2 |
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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 |
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
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CORRECT COMPANY NAME |
FARK CORP S.A. DE C.V. |
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TRADE NAME |
FARK CORP |
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TAXPAYER REGISTRATION |
RFC FCO9406079L9 |
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MAIN ADDRESS |
Luis Lusati Mz. 12 Lt. 14, Col. México Nuevo, |
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POSTAL CODE |
52966 |
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PROVINCE / DEPARTAMENT |
Municipio Atizapán de Zaragoza |
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STATE / REGION |
México |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 53414242 - 53414232 - 53414898 / 53416212 - 534171 |
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E-MAIL |
lmere@farkcorp.net (Main -Email address) |
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WEB |
www.farkcorp.com.mx |
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COMMENTS |
Other email: claudia.azuara@farkcorp.net Purchasing: ana.ramirez@farkcorp.net Sales: karla.castelazo@farkcorp.net Accounting: antonio.mendoza@farkcorp.net |
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Date of foundation |
1994 |
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Shareholders' equity |
15,254,115.00 Pesos (31DEC2010) |
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Annual revenues |
US$ 2,169,265.33 Pesos (31DEC2010) |
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Profits (loss) |
-1,147,235.00 Pesos (31DEC2010) |
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permanent employees |
10 |
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Chief Executive |
MERE BROISS, LUIS ALBERTO |
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Disposition |
Moderate.- Only some data and some figures. |
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Payments policy |
Usually to terms/good |
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Credit (**) |
Risk is Moderate. Within Average. Lightly Fair Situation. |
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
07JUN1994 |
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PLACE OF REGISTRY |
Mexico DF |
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NOTARY OFFICE |
Rogelio Magana Luna. |
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DURATION |
99 years |
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REGISTRATION |
No.156 Registry of Companies |
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INITIAL CAPITAL |
Ps$50,000.= Pesos |
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SHAREHOLDERS EQUITY |
15,254,115.00 Pesos (31DEC2010) |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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CURRENT EXCHANGE RATE (US$) |
Ps$12.66 per US$1.= Dollar |
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COMMENTS |
Personal information of the executives was not disclosed for security
reasons. |
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FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
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MERE BROISS, LUIS ALBERTO |
General Director |
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RODRÍGUEZ GÓMEZ, ROSA MARÍA |
Accountant |
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MERE BROISS, LUIS ALBERTO |
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NATIONALITY |
Mexican |
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D.O.B. |
04NOV1969 |
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PROFESSION |
Businessman |
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TAX ID |
MEBL-691104-LUZ |
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RODRÍGUEZ GÓMEZ, ROSA MARÍA |
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NATIONALITY |
Mexican |
-Fark Corp, is a 100% Mexican company with over 17 years experience in
the purchase, sale, import and export of raw materials for the pharmaceutical,
veterinary, cosmetic and food industries.
-It has world renowned suppliers approved by the country's
pharmaceutical industry that have good manufacturing practices (GMP).
-Just like the following pharmacopoeias: USP, BP, FCC, JP, Ph Eur, DAB,
NF and some meeting the most important quality standards (FDA).
As far as we know
the company does not report any related companies.
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Main activity |
The company is engaged in the purchase, sale, import of raw materials
for the pharmaceutical, veterinary, cosmetic and food industries. |
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Import |
Yes |
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Country |
India and China, through direct credit from 60 to 120 days. |
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Export |
No |
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% CASH SALES / METHOD |
1% |
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% Credit SALES / Terms |
99% (terms: 30, 60, 90 days) |
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% DOMESTIC PURCHASES |
30% |
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% FOREIGN PURCHASES |
70% |
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SELLING TerritorY |
100% Nationally |
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EMPLOYEES |
10 |
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Comments |
Clients: -Laboratorios Best S.A. de C.V. -Importadora y Manufacturera Bruluart S.A. de C.V. -Novag Infancia S.A. de C.V. -Morchemie S.A. de C.V. -Gelcaps Exportadora de México S.A. de C.V. |
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Interviewee(s) |
Rosa Maria Rodriguez |
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Position(s) |
Accountant |
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Disposition |
Moderate.- Only some data and some figures. |
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Information provided |
We interviewed the C.P.A. Rosa María Rodríguez Gómez (Accountant) who
cordially assisted us with general information regarding the company
contained in this report. With regards to our request for financial data, she only stated that
the company is currently making Ps$2 million Pesos in monthly sales on
average. Latest available balance sheet of this company kept in our files is
for their Fiscal Year ended at 31/12/2010, in Pesos, which we include in
report for client's reference. |
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BALANCE SHEET
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FINANCIAL SITUATION |
B: FAIR No recent financial statements were available to determine the real
financial situation of this Company, but trade references are good. |
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Property of company comments |
Fixed assets include: -Furniture and office equipment -Computer equipment -2 car -4 vans |
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INSURANCE |
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(Confidential Information)
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TRADE REFERENCES |
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Note : Other suppliers did not provide information or could not be
consulted |
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CREDIT HISTORY At a local level, subject makes use of credit facilities under various
conditions, which it pays timely, having earned a good credit rating. Subject
is an established customer. It is not reported unpaid and/or protested bills. |
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BANKERS It should be mentioned that in Mexico it is not possible to obtain any
banking references if it is not known the checking account number, the agency
where it was opened, and the credit officer's name. |
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REPUTATION |
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NOTHING AGAINST COMPANY |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.82 |
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1 |
Rs.87.9 |
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Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.