|
Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
LABORATORIOS ANDROMACO S.A. |
|
|
|
|
Registered Office : |
Av. Quilín 5273 - Peñalolén Santiago XIII Region Metropolitana |
|
|
|
|
Country : |
Chile |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Incorporation : |
1942 |
|
|
|
|
Legal Form : |
Public Stock Company |
|
|
|
|
Line of Business : |
Laboratory of pharmaceutical products for human consumption. |
|
|
|
|
No. of Employees : |
821 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 approximately one-third of GDP, with commodities making up
some three-quarters of total exports. Copper alone provides 19% of government
revenue. From 2003 through 2012, real growth averaged almost 5% per year,
despite the slight contraction in 2009 that resulted from the global financial
crisis. 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 has 22 trade agreements covering 60 countries including
agreements with the European Union, Mercosur, China, India, South Korea, and
Mexico. Chile has joined the United States and nine other countries in
negotiating the Trans-Pacific-Partnership trade agreement. In 2012, foreign
direct investment inflows reached $28.2 billion, an increase of 63% over the
previous record set in 2011. The Chilean Government has generally followed a
countercyclical fiscal policy, accumulating surpluses in sovereign wealth funds
during periods of high copper prices and economic growth, and generally
allowing deficit spending only during periods of low copper prices and growth.
As of 31 December 2012, those sovereign wealth funds - kept mostly outside the
country and separate from Central Bank reserves - amounted to more than $20.9
billion. Chile used these funds to finance fiscal stimulus packages during the
2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming
the first South American country to join the OECD.
Source
: CIA
LABORATORIOS ANDROMACO S.A.
Av. Quilín 5273 - Peñalolén
Santiago
XIII Region Metropolitana
CHILE
Telephone :
56-2-25948000
Fax :
56-2-25948504
E_Mail : info@empresasandromaco.cl,
pilar.pablo@andromaco.cl
Web Site : www.andromaco.cl
P.O.Box : 1782 - Santiago-1
Postal Code :
7930013
Started
: 1942
Total Employees : 821
Payments
: See Commercial Record
Capital
: 000's$ 23.652.297-
Sic(s) : 2833 - 2834
Line of Business: Pharmaceutical industry.-
Financial indicators
According to last financial statement, subject shows a good financial
situation,
as indicated in:
** Normal Working Capital
** Excellent Current Liquidity Ratio
** Excellent Acid Test Ratio
Economic situation is normal, as reflected in:
** Normal Current Indebtedness Ratio
** High Total Indebtedness Ratio
** Good Solvency Ratio
** Normal Profitability Over Sales Ratio
** Normal Profitability Over Assets Ratio
** High Profitability Over Net Worth Ratio
IMPORTANT NOTE TO CONSOLIDATED BALANCE SHEETS
When entering consolidated balance sheets into the evaluation system,
they are not taken into account for assessment purposes as they do not
represent the actual
situation of the subject company, therefore, they are not considered for
credit recommendation purposes.
Commercial Bulletin : As at 31/05/2013 subject
does not register protested
checks, bank drafts nor promissory notes in the
commercial information bulletin
Labor Bulletin : As
at 31/05/2013 does not register work infringements
Previsional Bulletin : As at 31/05/2013 does not
register social security
infringements
Consolidated delinquency : As at 31/05/2013, subject registers the following
delinquent bills
Detail of Delinquent Debts
Date : 23/07/2012
Note : Exempt invoice
Value : Ch$ 40.994,00
Drawer : Correos de Chile
City : -
Date : 05/10/2012
Note : Invoice
Value : Ch$ 64.260,00
Drawer : Sodexho Chile S.A.
City : -
Date : 19/07/2012
Note : Invoice
Value : Ch$ 176.988,00
Drawer : Chilexpress S.A.
City : -
Date : 22/05/2013
Note : Exempt invoice
Value : Ch$ 10.450,00
Drawer : Soc. Concesionaria Vespucio Norte
City : -
TRADE REFERENCES
Suppliers' trade references are supplied as follows:
Detail of References
Old : Since
1992
Last purchase : 04-2013
Terms : 90 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 140.000
Owes : (000'sUS$) 1
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 15.000
Old : Since
1995
Last purchase : 04-2013
Terms : 60 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 15.000
Owes : -
Due : Does
not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 13.000
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1992 06-12 Prompt
invoice
140.000
-
Since 1995 07-12 Prompt
invoice
15.000 14.000
Since 2002 07-12 Prompt
invoice
-
-
Since 1999 07-12 Prompt
invoice
- 35.000
Since 1995 02-12 Prompt
invoice
15.000 21.000
Since 1999 03-12 Prompt
invoice
-
-
Since 1992 01-12 Prompt
invoice
140.000
-
Since 1992 05-11 Prompt
invoice
140.000 None
Since 1995 05-11 Slow
invoice
15.000
-
Since 1998 05-11 Prompt sight
draft
50.000
-
Since 1995 10-10 Slow
invoice
15.000
-
Since 1998 10-10 Prompt sight
draft
50.000
-
Since 1977 09-10 Prompt
invoice
Open None
Since 1992 10-10 Prompt
invoice
140.000 None
Since 1995 12-09 Prompt
invoice
Open None
Since 1995 05-09 Prompt
invoice
Open None
Since 1995 12-08 Prompt
invoice
Open
-
Since 1995 06-08 Prompt
invoice
Open
-
Since 1995 10-07 Prompt
invoice
Open
-
Since 1987 11-07 Prompt
invoice
50.000
-
Since 1987 05-07 Prompt
invoice
50.000
-
Since 1995 05-07 Prompt
invoice
Open
-
12 years 06-06 Prompt not
specified
Open
-
8 years 05-06 Prompt
current
account
-
-
20 years 06-06 Prompt sight
draft
50.000 51.700
8 years 06-06 Prompt
invoice
-
-
8 years 01-06 Prompt
invoice
-
-
10 years 02-06 Prompt checks
and order
f
-
-
8 years 02-06 Prompt
current
account
-
-
20 years 02-06 Prompt
checks
50.000
-
12 years 02-06 Prompt not
specified
Open
-
12 years 08-05 Prompt not
specified
Open
-
20 years 08-05 Prompt
checks
50.000
-
8 years 08-05 Prompt
current
account
1.000
-
8 years 08-05 Prompt
invoice
-
-
8 years 04-05 Prompt
invoice
-
-
8 years 04-05 Prompt
current
account
1.000
-
20 years 04-05 Prompt
checks
50.000
-
10 years 04-05 Prompt not
specified
Open
-
20 years 08-04 Prompt
checks
50.000
-
8 years 08-04 Prompt
current
account
1.000
-
10 years 08-04 Prompt not
specified
Open
-
During the last 6 months, the account holder credit history shows 64 credit
review inquiries requested by financial institutions, telecommunications
companies, supermarkets, consultancy and insurance agencies.
Registers 4 delinquent payments included in the report.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
C O M P A R A T I V E - S U M M A R Y
( Figures in Thousand Pesos, local currency )
From 01/01/2012
01/01/2011 01/01/2010
To 31/12/2012 31/12/2011
31/12/2010
CURRENT
ASSETS
75.983.776
69.454.292 66.813.005
CURRENT
LIABILITIES
36.019.494
61.420.874 39.303.798
WORKING
CAPITAL
39.964.282
8.033.418 27.509.207
FIXED
ASSETS
26.098.755 26.861.922
21.699.761
OTHER
ASSETS
14.121.347
14.059.514 16.119.711
LONG TERM
LIABILITIES
32.606.026
6.061.150 19.845.301
NET
WORTH
47.578.358 42.893.704
45.483.378
OPERATING
INCOMES
97.860.163
88.600.690 96.069.810
CURRENT
PROFIT(LOSS)
6.743.968
3.369.844 9.583.879
B A L A N C E S H E E T
CONSOLIDATED FISCAL YEAR COMPLETE
ASSETS
31/12/2012 31/12/2011
Cash
1.222.155 1.084.339
Term
Deposits
362.000
0
Sales
Debtors
51.079.683 44.713.680
Notes & Accts
Receivable/Interco.Relations
17.691 40.054
Inventory
17.293.154 19.728.298
Taxes
Recoverable
6.009.093 3.498.702
Other Current
Assets
0 389.219
CURRENT
ASSETS
75.983.776 69.454.292
Higher Value/Technical
Reappr.Fix.Assets
4.207.581 4.115.069
Net Fixed
Asset
21.891.174 22.746.853
FIXED
ASSETS
26.098.755 26.861.922
Investments in Other
Partnerships
56.392
0
Long Term
Debtors
53.371 1.181.757
Intangibles
12.724.361 12.825.401
Other
1.287.223
52.356
OTHER
ASSETS
14.121.347 14.059.514
TOTAL
ASSETS
116.203.878 110.375.728
LIABILITIES
31/12/2012 31/12/2011
Oblig.With Banks & Financ.Inst.Short
Term
8.738.792 36.934.223
Accounts
Payable
25.854.222 24.025.204
Provisions
713.732 101.899
Withholdings
712.748 359.548
CURRENT
LIABILITIES
36.019.494 61.420.874
Oblig.with Banks & Financial Intitutions
31.034.094 4.295.504
Sundry
Creditors
119.001 1.648.695
Provisions
1.452.931 116.951
LONG TERM
LIABILITIES
32.606.026 6.061.150
Paid
Capital
14.093.265 14.093.265
Surcharge in Sales of
Shares
2.142.931 1.952.040
Other
Reserves
-6.632.511 -6.684.730
Accumulated
Profits
31.230.705 30.163.285
Current Profit
(Losses)
6.743.968 3.369.844
NET
WORTH
47.578.358 42.893.704
TOTAL
LIABILITIES
116.203.878 110.375.728
STATEMENTS OF
RESULTS
31/12/2012 31/12/2011
Operating
Income
97.860.163 88.600.690
Operating
Cost
-40.774.902 -37.898.152
OPERATING
MARGIN
57.085.261 50.702.538
Administration & Sales
Expenses
-43.513.645 -42.750.753
OPERATING
RESULT
13.571.616 7.951.785
Financial
Incomes
3.994 21.069
Other non Operating
Incomes
520.701
61.548
Loss investment Related
Companies
-31.608
0
Financial
Expenses
-3.244.908 -2.831.742
Other non Operating
Expenses
-700.229 -638.850
Exchange difference
-78.324 614.602
NON OPERATING
RESULT
-3.530.374 -2.773.373
Result Before Income
Tax
10.041.242 5.178.412
Income
Tax
-2.729.146 -1.427.448
Monority
Interest
-568.128 -381.120
NET
PROFIT(LOSS)
6.743.968 3.369.844
CURRENT
PROFIT(LOSS)
6.743.968 3.369.844
ECONOMIC - FINANCIAL RATIOS
31/12/2012
31/12/2011 Average
Working
Capital
(000's$) 39.964.282
8.033.418 23.998.850
Current Liquidity
(Times)
2,11
1,13 1,62
Acid
Test
(Times)
1,63 0,81
1,22
Collection Period Days (
Days)
187,97
181,84 184,91
Accounts Receivable
Turnover(Times)
1,92
1,98 1,95
Inventory Turnover
(Times)
2,36
1,92 2,14
Current Indebtedness
(Times)
0,76
1,43 1,10
Total Indebtedness
(Times)
1,44
1,57 1,51
Solvency
(Times)
1,69
1,64 1,67
Assets Tying
Up
( % )
22,46
24,34 23,40
Profitability Over Sales ( %
)
6,89
3,80 5,35
Profitability Over Assets ( %
)
5,80
3,05 4,43
Profitability Over Net Worth( %
)
16,52
8,53 12,53
BANKS
Subject operates with the following banks:
- Banco Bice, main office Teatinos 220, Santiago
- Banco de Chile, main office Ahumada 251, Santiago
- Banco de Credito e Inversiones
- Banco Santander Chile, main office Bandera 140, Santiago
Line of Business : Laboratory of pharmaceutical products
for human consumption.
Classification according to commercial activity:
Sic: 2833-0000 Medicinals and botanicals
Sic: 2834-0000 Pharmaceutical preparations
Commercializes:
- Lacer (España)
- Hipoglos
- Leo (Dinamarca)
- Chiesi (España)
- Ricordati (Italia)
- Fittig
- Clarimir
- Bioibérica (España)
- Ferrer (España)
- Fournier (Francia)
- Fujisawa Klinge (Alemania)
- Newport (Costa Rica)
- OM (Suiza)
- Phoenix (Argentina)
- Schwabe (Alemania)
- Statem Serum (Dinamarca)
- Vifor (Suiza)
- Cotibin
- Flapex
- Isdin (España)
- Zambon (Italia)
Subject is considered as a large company in this line of business, high
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 95%.
Sales conditions: Cash and term payments to 30 & 60 days.
International: 5%.
Exports to Germany, Argentina, Bolivia, Colombia, Ecuador, El Salvador, United
Arab Emirates, Spain, Guatemala, Haiti, India, Panama, Peru, Dominican
Republic,
Switzerland and United States
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Peru
34,66 50,43
Ecuador
32,70 13,35
Panama
14,93 22,20
Bolivia
6,91 5,42
Colombia
5,79 5,51
Dominican
Republic
1,80 0,75
Guatemala
1,09 2,30
El
Salvador
0,49 0,00
Spain
0,48 0,00
India
0,47 0,00
United
States
0,35 0,00
United Arab
Emirates
0,16 0,00
Argentina
0,06 0,00
Haiti
0,05 0,00
Switzerland
0,03 0,00
Germany
0,02 0,00
Historical registries
Total 2012 = 000's$ 6.722.830 Accumulated 2013 = 000's$ 1.112.852
Total 2011 = 000's$ 6.494.410
Total 2010 = 000's$ 7.121.498
Total 2009 = 000's$ 4.664.448
Total 2008 = 000's$ 7.136.998
Total 2007 = 000's$ 3.245.436
Total 2006 = 000's$ 2.794.375
Total 2005 = 000's$ 2.292.821
Total 2004 = 000's$ 2.271.522
Customers
Main customers are: Drugstores and line of business' distributors.
The 4 most important customers are:
Farmacias Ahumada S.A., Socofar S.A., Farmacias Cruz Verde
S.A., Central de
Abastecimiento del Sistema Nacional del Servicio de Salud
Purchases
Places orders with multiple suppliers
National: 80%
Purchase conditions: Cash 30 days.
International: 20%
Purchase conditions: Letter of credit and collection.
Imports from Germany, Argentina, Austria, Belgium, Brazil, China, Colombia,
South Korea, Costa Rica, Denmark, United Arab Emirates, Spain, France, Gabon,
Netherlands, Hungary, India, England, Ireland, Italy, Japan, Mexico, Norway,
Peru, Portugal, Czech Republic, Southafrica, Switzerland and United States
of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
India
19,05 30,97
China
15,91 10,29
Colombia
11,91 10,03
France
11,68 4,62
Italy
7,10 9,58
Argentina
5,19 7,11
Germany
4,95 2,17
Switzerland
4,41 1,67
Spain
3,49 2,92
Mexico
3,35 3,47
United
States
2,61 6,63
Japan
2,17 3,49
Southafrica
2,03 1,42
Denmark
1,61 1,10
Brazil
1,26 1,10
Ireland
0,79 0,62
England
0,51 0,19
Peru
0,48 0,19
Netherlands
0,42 1,31
Belgium
0,30 0,00
South
Korea
0,26 0,07
Austria
0,26 0,59
Costa
Rica
0,11 0,00
Czech Republic
0,09 0,00
Hungary
0,04 0,00
Portugal
0,03 0,31
Norway
0,02 0,00
United Arab
Emirates
0,00 0,00
Gabon
0,00 0,00
Historical registries
Total 2012 = 000's$ 13.731.260 Accumulated 2013 = 000's$ 3.566.011
Total 2011 = 000's$ 19.785.567
Total 2010 = 000's$ 14.305.143
Total 2009 = 000's$ 14.047.317
Total 2008 = 000's$ 18.927.952
Total 2007 = 000's$ 17.328.401
Total 2006 = 000's$ 10.321.833
Total 2005 = 000's$ 8.388.240
Total 2004 = 000's$ 9.298.339
Main suppliers
- Agencia de Representaciones Limitada
- APL Logistics Chile S.A.
- Cristalerias de Chile S.A.
- Empresa El Mercurio S.A. Periodistica
- Eynaudi Impresores S.A.
- Faret S.A.
- I.B.M. de Chile S.A.C.
- Merck S.A.
- Molina Flores S.A.
- Proquimsa S.A.
- Representaciones de Materias Primas Industriales Limitada
- Soc. de Alimentacion Casino Express Ltda.
Employees: 821 employees
Location
- Administrative offices located at Av. Quilín 5273 Peñalolén Santiago,
Chile,
industrial area, main avenue of normal traffic, construction in
good
conditions
Branches
- Commercial office at 10 Norte 842 Viña del Mar Chile
- Commercial offices located at Cochrane 1313, Concepción Chile
Subject is related to the following companies:
National
- Laboratorios Silesia S.A. T A X 91871000-0 Peñalolén Santiago, 99,99%
Participation
- Farma Storage Ltda. T A X 96699730-3 Peñalolén Santiago, 99,90%
Participation
- Diagnotec Comercial S.A. T A X 76037546-2 Peñalolén Santiago, 80,00%
Participation
- Laboratorio de Diagnostico Viral Diagnotec T A X 78957810-9 Santiago,
80,00%
Participation
- Laboratorios Master S.A. T A X 79657680-4 Ñuñoa Santiago, 66,00%
Participation
- Ferrer Andromaco S.A. T A X 76541770-8, 40,00% Participation
International
- ABL Pharma Bolivia Ltda., Bolivia 99%
- ABL Trading International Limited, Virgin Islands British 99%
- ABL Pharma Ecuador S.A., Ecuador 99%
- ABL Pharma Iprofasa S.A., Guatemala 99%
- ABL Pharma Peru S.A.C., Peru 27,47%
- ABL Pharma Colón S.A., Panama 99%
- ABLPharma Panama S.A., Panama 99%
- Silesia Perú S.A., Peru
- ABL Pharma Colombia S.A., Colombia 81,18%
- Laboratorio Internacional de Colombia S.A., Colombia
- ABL Pharma El Salvador S.A., El Salvador 99%
- ABL Pharma Costa Rica S.A., Costa Rica 99%
- ABL Pharma Republica Dominicana S.A., Dominican Republic 98%
FIXED ASSETS
Real estates
Subject registers real estates
- Other facilities, Av. Vicuña Mackenna 3451 Interior San Joaquín
Santiago-Chile, Fiscal value of 000's$ 323.786.-, rol Nº 905-4
- Shops and warehouses, Las Américas 375 Cerrillos Santiago-Chile, Fiscal
value
of 000's$ 561.074.-, rol Nº 518-20
- Industry, Vicuña Mackenna 3451 San Joaquín Santiago-Chile, Fiscal value
of
000's$ 1.511.175.-, rol Nº 905-3
Total fiscal appraisal $ 2.396.034.993.-
Vehicles
Owns vehicles for the company's use
3 service vehicles .
Machinery & Instalations
Subject owns the following
- Laboratory equipments , labeling machines , cardboard binders , ,
sealers ,
office installations , other necessary elements .
INSURANCES
Insurance Company:
-RSA Seguros Chile S.A.
Due
: Unspecified due dates
In force : Annual
Risks : All
risks.
Objetive : Assets in general.
Taken out through AON Risk Brokers.
President :
Jaime Francisco Bauzá Bauzá TAX:4455704-5
Vice President : Sergio Weinstein Aranda
TAX:6804358-1
Director
: Pablo Guerrero Valenzuela TAX:7011036-9
Director
: Pablo Turner González TAX:7056349-5
Director
: Pablo Javier Echeverría Benítez TAX:7012254-5
Director
: Juan Cristóbal Philippi Irarrázaval TAX:5894816-0
Director
: Ricardo Bitrán Dicowsky TAX:7033712-6
ADMINISTRATION
General Manager : Andrés Rudolphy Fontaine
TAX:8077164-9
Manager Pharma Chile :
Alessandro Marcelo Pesce Reyes TAX:14463445-4
Operations Manager : Carlos Cruz León TAX:11438025-3
Adm. & Finances Manager
: Juan Ignacio Sandoval Calderón TAX:7774455-K
Finances Manager : Gastón Alberto Hamel
López TAX:12148880-9
Human Resources Manager :
Marcela Pumarino Cruzat TAX:10715940-1
Accounting Manager : Julio Burgos Romero TAX:12376684-9
Manager Of Control : Gonzalo Correa Aldunate TAX:13550376-2
Marketing Manager : Jose Ignacio Iñiguez Diaz
TAX:7012308-8
Silesia
Sales Manager : Juan Carlos Gomez Vargas
TAX:7198692-6
(Institutional)
Manager of Licenses : María Teresa Hudson Urrutia TAX:7683318-4
Marketing Manager : Carlos Carvajal Casanga
TAX:9224201-3
(Regional Pharmaceutical
Manager)
Commercial Manager and :
Fernando Muñoz Forno TAX:9745213-K
Regional Pharma Sur
Controller
: Jorge Andrés Joannon
Errázuriz TAX:7003348-8
CURRICULUM
Jaime Francisco Bauzá Bauzá
T A
X : 4455704-5
Studies
: Attended the Universidad Católica de Chile.
Titled as : Civil
Engineer.
Position :
President
Sergio Weinstein Aranda
T A
X
: 6804358-1
Titled as :
Industrial Civil Engineer
Position :
Vice President
Pablo Guerrero Valenzuela
T A X
: 7011036-9
Titled as :
Attorney.
Position :
Director
Pablo Turner González
T A
X
: 7056349-5
Titled as :
Commercial Engineer.
Position :
Director
Pablo Javier Echeverría Benítez
T A
X
: 7012254-5
Titled as :
Industrial Civil Engineer
Position :
Director
Ricardo Bitrán Dicowsky
T A
X
: 7033712-6
Titled as :
Industrial Civil Engineer
Position :
Director
Andrés Rudolphy Fontaine
T A
X
: 8077164-9
Titled as :
Industrial Civil Engineer.
Position :
General Manager
Alessandro Marcelo Pesce Reyes
T A
X
: 14463445-4
Titled as :
Commercial Engineer
Carlos Cruz León
T A
X
: 11438025-3
Titled as :
Industrial Civil Engineer
Position :
Operations Manager
Juan Ignacio Sandoval Calderón
T A
X
: 7774455-K
Titled as :
Commercial Engineer
Position :
Adm. & Finances Manager
María Teresa Hudson Urrutia
T A
X
: 7683318-4
Titled as :
Industrial Civil Engineer
Carlos Carvajal Casanga
T A
X
: 9224201-3
Titled as : Medical
Technologist
Legal Structure : Public
Stock Company
Constitution date : 16/12/1964. Registered on leaf 3821 Nº
1821 of the
Santiago Trade Register and by Executive Decree Nº
1.293, year 1965. Registered in the Registry of
Securities under Nº 704 on August 30th, 2000.
Stock companies Code "ANDROMACO"
Notary
: Andrés Rubio Flores, Santiago
Term of duration : Indefinite
Legal Address : Santiago - Chile
Published in : Official Gazette
dated 11/06/1964
Current Social Capital: 000's$ 23.652.297.-Divided to 728.600.000.- registered
shares unique series
Shareholder : 12
- 98,00% Fondo de Inversion Santander Small Cap
- 35,00% 96937530-3 Inversiones Nm Limitada
- 24,75% Moneda S.A.A.F.I. para Pionero F.I.M.
- 7,72% Fondo de Inversion Larrain Vial-Beagle
- 6,69% Compass Small Cap Chile Fondo de Inversion
- 3,83% Siglo XXI, Fondo de Inversion
- 3,82% Chile Fondo de Inversion Small CAP
- 3,55% Celfin Small Cap Chile Fondo de Inversiones
- 3,15% Celfin Capital S.A. Corredores de Bolsa
- 1,40% Moneda S.A. A.F.I. para Moneda Chile Fund
- 1,07% 80537000-9 Larrain Vial S.A. Corredores de Bolsa
- 0,98% Inversiones Puerto Aventura Ltda.
Power of attorney held by General Manager.
Legal changes
Public Deed dated 02/05/1997, notary Guillermo Le-Fort Campos, Santiago,
published in the Official Gazette dated 22/05/1997 page N° 15, capital was
increased: from $53.306.490 divided into 20.000.000 registered and no par value
shares, to $1.043.618.340 divided into 40.000.000 registered and no par value
shares.
Public Deed dated 10/02/1998, notary Andrés Rubio Flores, Santiago, published
in
the Official Gazette dated 18/02/1998 page N° 22, capital was increased: to
$12.650.118.349 divided into 65.000.000 registered and no par value shares of
one series.
Public Deed dated 14/04/1998, notary Andrés Rubio Flores, Santiago, published
in
the Official Gazette dated 11/05/1998 page N° 10, statutes were modified: : A)
it was invalidated the agreement of capital increase dated Feb.10th, 1998.
Published in the official gazette dated Feb. 18, 1998.-
B) To carry out capital was increased: according to balance sheet as at
December 31, 1997 from $1.088.637.000.- divided into 40.000.000
registered and
no par value shares of one series, to $ 12.695.137.000.- divided into
65.000.000
registered and no par value shares (to be issued without limitations within a
period of 3 years).
Consequently, subscribed and paid capital is $ 1.088.637.000.- divided
into
40.000.000 no par value shares.
Public Deed dated 20/09/1999, notary Raúl Undurraga Laso, Santiago, published
in
the Official Gazette dated 28/09/1999 page N° 9, statutes were modified: a new
rewritten text was recorded.
Public Deed dated 30/12/1999, notary Raúl Undurraga Laso, Santiago, published
in
the Official Gazette dated 28/02/2000 page N° 16, statutes were modified: It
was
agreed the merger of LABORATORIOS ANDROMACO S.A. with LABORATORIOS LUMIERE
AMERICANOS S.A.C.e I., LABORATORIOS BENGUEREL LTDA and COMERCIAL ANTIGUA LTDA.
The three latest were legally dissolved while subject took over them, acquiring
rights and duties.
Public Deed dated 18/12/2001, notary Raúl Undurraga Laso, Santiago, published
in
the Official Gazette dated 03/01/2002 page N° 13, capital was increased: to
$17.048.965.105 divided into 700.000.000 no par value, one-series shares.
Public Deed dated 02/08/2002, notary Raúl Undurraga Laso, Santiago, published
in
the Official Gazette dated 19/08/2002 page N° 24, capital was increased: it
remained in $17.254.784.804 divided into 700.000.000 shares of one series.
Public Deed dated 22/09/2004, notary Enrique Mira Gazmuri, Santiago, published
in the Official Gazette dated 04/10/2004 page N° 27, statutes were modified:
subject was divided into 2 companies, creating a new one called INMOBILIAIA
SENA
S.A. As a result, capital was reduced: to $17.062.525.906, divided into
700.000.000 ordinary, registered, one-series, same-value and no par value
shares, out of which 509.200.000 shares (equivalent to $7.311.001.916.-) have
been subscribed and paid.
Public Deed dated 21/01/2005, notary Raúl Undurraga Laso, Santiago, published
in
the Official Gazette dated 02/02/2005 page N° 32, capital was increased: from
$7.880.297.333 (currently paid) divided into 528.600.000 shares, to
$23.652.297.333 divided into 728.600.000 registered, no par value and
one-series
shares, out of which 509.200.000 (equivalent to $6.841.001.916.-)
have been
subscribed and paid and 19.400.000 (equivalent to $1.039.295.417.-)
remain
payable and not subscribed in order to be offered within a compensation plan
for
executives and workers of the partnership and its affiliates. They must be
subscribed and paid within a maximum term of 5 years as from December
4th,
2001. Another 200.000.000 cash shares equivalent to $15.772.000.000.- will have
to be subscribed and paid within 3 years as from January 20th, 2005.
(Rectified in Official Gazette dated Feb. 26th, 2005 page 24)
History;
Subject started operations in Chile in 1942 as Andrómaco S.A. Its first
proprietor was the Marquis MD. Raúl Roviralta (Spanish).
Mr. Carlos Cruz León, Operations Manager, confirmed
the data
shown in this report, outside sources provided Consolidated balance
sheets.
-Other outside information sources.
Exchange rate
-As at 07/06/2013 $505,09 Per US$
-As at 31/12/2012 $478,60 Per US$
-As at 31/12/2011 $521,46 Per US$
-As at 31/12/2010 $468,01 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.