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Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
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Name : |
ROMIKIN |
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Registered Office : |
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Country : |
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Date of Incorporation : |
10.10.1986 |
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Com. Reg. No.: |
113354 |
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Legal Form : |
Limited Company |
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Line of Business : |
Pharmaceutical and Veterinary Specialties
Pharmacy |
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No. of Employees : |
62 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Argentina |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 an unprecedented 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 - at the
time the largest ever - 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 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 in 2010 rebounded strongly from the 2009
recession, but has slowed since late 2011 even as the government continued to
rely on expansionary fiscal and monetary policies, which have kept inflation in
the double digits. The government expanded state intervention in the economy
throughout 2012. In May the Congress approved the nationalization of the oil
company YPF from Spain's Repsol. The government expanded formal and informal
measures to restrict imports during the year, including a requirement for
pre-registration and pre-approval of all imports. In July the government also
further tightened currency controls in an effort to bolster foreign reserves
and stem capital flight.
|
Source : CIA |
ROMIKIN S.A.
CUIT. Nº: 30-61116362-9
BEGINNER OF ACTIVITIES. INCORPORATED IN 1986. NOT PROVIDED BALANCE
SHEET. NO NEGATIVE. APT FOR CURRENT CREDITS AND ADDITIONAL GUARANTEES.
PHARMACEUTICAL AND VETERINARY SPECIALTIES
PHARMACY
BUSINESS TYPE: LIMITED COMPANY
INCORPORATED: 10/10/1986
REGISTERED: 18/12/1986
Lo.103 To.A
REGISTER NO.: 113354
DuraTiOn: UNTIL 18/12/2085
END OF FISCAL YEAR : JUNE 30
ACCOUNTANT: IVANNA SBROCCO
LEGAL ADDRESS AND HEADQUARTERS: Paraguay 1535(1061ABC), Buenos Aires City,
Repúblic of Argentina.
PHONE:(54-11) 4872.1200
E-mail: romikin@chemogroup.com
E-mail: consultas@romikin.com.ar
PRESIDENTE:
HUGO DANIEL VALERIO
VICEPRESIDENTE: JORGE RUBEN CASTRO
DIRECTOR TITULAR: MANUEL
ALBERTO SOBRADO
DIRECTOR SUPLENTE: EMILIO
DANIEL PAPARIELLO
DIRECTOR SUPLENTE: MARIA
FLORENCIA BIN ASTIGARRAGA
Uso de firma: Se encuentra a cazrgo del Presidente y V.Presidente.
ORDINARY
SHARES:
----------------
SUBSCRIBED
AND INTEGRATED $ 185.415.322.
THE COMPANY IS A COMMERCIAL OFFICE IN
ARGENTINA FROM THE GRUPO CHEMO WITH COMPANIES IN Uruguay, Paraguay AND Bolivia,
DISTRIBUTING LOCALLY SEVERAL PHARMACEUTICAL PRODUCTS AND VETERINARY.
THIS ECONOMIC GROUP PROVIDES SOLUTIONS TO THE PHARMACEUTICAL AND CHEMICAL
INDUSTRY WORLDWIDE THROUGH:
CHEMO MARKETING (COMMERCIAL OFFICES):
---------------
> CHEMO IBERICA, Madrid (SPAIN).
> CHEMO IBERICA, Barcelona (SPAIN).
> CHEMO LUGANO BRANCH (SWITZERLAND).
> CHEM.EAST (Hungría).
> ROMIKIN (Argentina).
> CHEMO INDIAN BRANCH (India)
> CHEMO ASIA (China)
BUSINESS ALIANCES:
------------------
> NOSCH (India)
> OSMOTICA (SPAIN)
> MITHRA (BélgiUM AND Luxemburgo)
> EFFIK (FrancE, SPAIN AND ITALY)
> DALT PHARMA (Guatemala)
> MAPRIMED (Argentina)
> CHEMOTECNICA (Argentina)
> RECOMBIO (SPAIN)
CHEMO OPERATIONS (CHEMICAL IND. OF ACTIVE PRODUCTS):
-----------------
> INDUSTRIALE CHIMICA (ItalY)
> QUIMICA SINTETICA (SPAIN)
> GOLD PHARMA (China)
CHEMO OPERATIONS (PHARMACEUTICAL Ind.-FINISHED Prod.):
-----------------
> LABORATORIOS LICONSA (SPAIN)
> LABORATORIOS LEON FARMA (SPAIN)
VETERINARY PRODUCTS:
----------------------
> VETPHARMA (SPAIN)
CHEMO IS DEDICATED TO THE MANUFACTURE AND DISTRIBUTION OF FINISHED PRODUCTS IN
THE PHARMACEUTICAL AND VETERINARY INDUSTRY AND RAW MATERIALS, PRODUCTS IN
BETWEEN AND OTHER FINE CHEMICAL PRODUCTS.
BEFORE HAS LEGAL ADDRESS AND HEADQUARTERS: Avda.del Libertador 1068, piso 14o.
((1112), Buenos Aires City, Repúblic of Argentina.
By new policy of the company not provided financial information to third
parties.
REAL
ESTATE:
---------
WITHIN
THE FIXED ASSETS IT IS INCLUDED THE BUILDING DEDICATED TO ITS COMMERCIAL
ACTIVITY WITH GOOD MARKET VALUE.
Avda del Libertador 1068 de CAPITAL FEDERAL
Jose M. Moreno 1460 CAPITAL FEDERAL
VEHICLES:
----------
THE COMPANY DOES NOT OWN VEHICLES.
> GRUPO CHEMO
PEPTIDES
INTERNACIONAL ING. USA
--------------------------------
Payments:
30,60 and 90 days
Credits: u$s 3.600.000 annuals
Normal concept.
It is possible to indicate that the company
under commentary is dedicated to import and wholesale of pharmaceutical
and veterinary products.
These products are elaborated by companies of the Chemo Group that, in the last
years, has initiated its activity in the scope of products finished with
manufacture of granulated of controlled released.
Later, the group has developed to wide portfolio of generic brands and has
collaborated with other companies to offer better products in the fields of
generics, health of the woman, respiratory apparatus and other sanitary areas.
With such products, the holder develops the national market with positive results,
being observed that 5% of its sales are made in Latin American.
As far as imports, it has carried out from Chine, Spain, Korea and other
countries.
* 62 EMPLOYEES.
MAIN SUPPLIERS:
---------------
CHEMOTECNICA S.A. Argentina
MARIMED Argentina
MERICHEM Chine
ALVAN Chine
PEPTIDES INTERNATIONAL INC. USA
HWAVET TECHNOLOGIES CO LTDA. Chine
PHYTHENAPICS SOLUTIONS S.A. Spain
FOREIGN TRADE:
--------------
IN THE LAST 12 MONTHS IT HAS CARRIED OUT IMPORTS FOR u$s. 29.154.834
AS FOLLOWS:
CHINE...........................U$S 23.228.966
INDIA...........................U$S 1.624.759
SPAIN...........................U$S 974.694
OTHERS..........................U$S 3.326.415
WAREHOUSE: José María Moreno 1460, Buenos Aires City, Repúblic of
Argentina.
BANCO PATAGONIA SUDAMERIS
CENTRAL OFFICE
CITIBANK N.A.
CENTRAL OFFICE
STANDARD BANK
Central Office
CREDICOOP COOP. LTDO.,
Central Office.
INSURANCES:
-------
CREDIT RISK:
------------
MARCH
2013
BANCO CREDICOOP $ 2.588.800
PATAGONIA 838.000
AMEX 52.500
GALICIA 300
ICBC
300
CITI
300
Situation 1: Normal
IT MAINTAINS CREDIT LINE WITH LOCAL AND INTERNATIONAL COMPANIES, WORKING
WITH AMOUNTS OF RELATIVE IMPORTANCE.
* FULFILLMENT WITHOUT OBJECTIONS.
BASED ON THE PREVIOUS REVIEW, THE COMPANY IS VIABLE FOR CREDIT
OPERATIONS OF CURRENT IMPORTANCE AND ADDITIONAL GUARANTEES.
* APT FOR CURRENT CREDIT OPERATIONS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
|
UK Pound |
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
---- |
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.