|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
LABORATORIO MAVER S.A. |
|
|
|
|
Formerly Known As : |
LABORATORIO VALLE GRANDE S.A. |
|
|
|
|
Registered Office : |
Las Encinas 1777- Valle Grande
Lampa - Chacabuco XIII Region Metropolitana |
|
|
|
|
Country : |
Chile |
|
|
|
|
Date of Incorporation : |
1923 |
|
|
|
|
Legal Form : |
Private Stock Company |
|
|
|
|
Line of Business : |
Pharmaceutical laboratory. |
|
|
|
|
No. of Employees : |
390 |
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 $20.9
billion. Chile used these funds to finance fiscal stimulus packages during the
2009 economic downturn. In May 2010 Chile signed the OECD Convention, becoming
the first South American country to join the OECD.
|
Source
: CIA |
LABORATORIO MAVER
S.A.
(LABORATORIO VALLE GRANDE S.A.)
Las Encinas 1777- Valle Grande
Lampa - Chacabuco
XIII Region Metropolitana
CHILE
Telephone :
56-2-24874200
Fax : 56-2-24874292
E_Mail :
aquinteros@maver.cl
Web Site : www.maver.cl
Postal Code :
9390399
SUMMARY
Started
: 1923
Total Employees : 390
Payments : See Commercial Record
Capital
: 000's$
3.979.252.-
Sic(s) :
2834
Line of Business :
Pharmaceutical laboratory.
Credit Recommendation
000's Pesos
000's US$
dollars 000's Euros
Conservative value :
292.500
620
483
Liberal value
:
321.750
682
531
If additional information is received or present information is rectified, this
recommendation may be modified.
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL INFORMATION
Commercial Bulletin : As at 23/05/2013 subject does not register protested checks, bank drafts nor
promissory notes in the commercial information bulletin
Labor Bulletin :
As at 23/05/2013 does not register work infringements
Previsional Bulletin
: As at 23/05/2013 does not
register social security infringements
Consolidated delinquency : As at
23/05/2013, subject registers the following delinquent bill
Detail of Delinquent Debts
Date :
31/12/2012
Note
: Invoice
Value :
Ch$ 273.724,00
Drawer :
Vorwerk y Cia. S.A.
City :
-
TRADE REFERENCES (28/03/2013)
Suppliers' trade
references are supplied as follows:
Detail of References
Old :
Since 2003
Last purchase :
02-2013
Terms : 60 days
Payment : Prompt
Notes : credit
Credit : (000'sUS$) 45.000
Owes : (000'sUS$) 5.000
Due : Does not Register
Paying Comments : Good
Purchase Aver. : (Monthly
000's$) 2.300
Old : Since 2003
Last purchase : 02-2013
Terms : 60 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 20.000
Owes : -
Due : Does not Register
Paying Comments : Good
Old : Since 2005
Last purchase : 02-2013
Terms : 60 days
Payment : Prompt
Notes :
bank transfer
Credit : -
Owes : (000'sUS$) 5.500
Due : Does not Register
Paying Comments : Good
Purchase Aver. : (Monthly
000's$) 4.000
Old : Since 1987
Last purchase : 02-2013
Terms : 90 days
Payment : Prompt
Notes : bank transfer
Credit : (000'sUS$) 100.000
Owes :
(000'sUS$) 13.000
Due : Does not Register
Paying Comments : Good
Purchase Aver. : (Monthly
000's$) 6.000
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit Owes
Old Purch. Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1998 12-11 Prompt
invoice
-
-
Since 1987 12-11 Prompt bank
transfer
100.000
-
Since 1987 01-10 Prompt bank
transfer
Open None
Since 2004 01-10 Prompt
invoice
Open
-
Since 2004 07-09 Prompt
invoice
Open None
Since 1987 07-09 Prompt bank
transfer
Open None
Since 1987 07-09 Prompt bank transfer
Open None
Since 1987 02-09 Prompt bank
transfer
Open None
Since 1987 02-09 Prompt bank
transfer
Open None
Since 2004 02-09 Prompt
invoice
- None
Since 2004 11-08 Prompt
invoice
-
-
Since 1987 11-08 Prompt bank
transfer
Open
-
Since 1987 11-08 Prompt bank
transfer
Open
-
20 years 03-08 Prompt bank
transfer
Open None
8 years 02-08 Prompt
current
account
Open None
4 years 03-08 Prompt
invoice
- None
20 years 02-08 Prompt bank
transfer
Open None
15 years 07-07 Prompt bank
transfer
Open
-
8 years 08-07 Prompt
current
account
Open None
20 years 09-07 Prompt order
form
Open
-
17 years 05-07 Prompt order
form
Open
-
15 years 10-06 Prompt
invoice
50.000
-
5 years 10-06 Prompt
checks
-
-
5 years 05-06 Prompt
checks
-
-
15 years 05-06 Prompt
invoice
50.000
-
15 years 02-06 Prompt
invoice
50.000
-
15 years 10-05 Prompt
checks
50.000
-
4 years 10-05 Prompt
cheks, drafts,
etc
-
-
10 years 10-05 Prompt bank
draft
Open
-
10 years 04-05 Prompt bank
draft
Open
-
4 years 04-05 Prompt not
specified
-
-
15 years 04-05 Prompt checks
50.000
-
15 years 03-04 Prompt
checks
50.000
-
10 years 02-04 Prompt bank
draft
Open
-
The account holder credit
report reflects no protests, and no social security and/or work infringements
as of the date of this report.
Registers 1 delinquent payment amounting $273.724 as at Dec 31, 2012.
During the last 6 months, the account holder credit history shows 54 credit
review inquiries requested by financial institutions, telecommunications
companies, insurance companies.
AVERAGE PAYMENTS IN CHILE
International Risk and
Payment Review reported in June 2011
The local delays in payment average 0-1 month.
Subject operates with the
following banks:
- Banco de Chile, branch Vicuña Mackenna, Santiago
- Banco de Credito e Inversiones
- Banco Santander Chile, branch Irarrázaval
Line of Business : Pharmaceutical Laboratory. Chemical industry.
Certification ISO 9000.-
Classification according to commercial activity:
Sic: 2834-0000 Pharmaceutical preparations
Commercializes:
- HAWAIIAN TROPIC
- VAPOLATUM
- OBLEAS CHINA
- TAPSIN
- DISFRUTA
- ORAL FRESH
- NENEGLOS
- ARMONYL
- DOLORUB
- ORALGENE
- MEDIKLIN
- ADELGAZUL
- LEBLON SOLAR
Subject is considered as a large company in this line of business, normal
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 98%.
Sales conditions: 5% cash and 95% credit.
International: 2%.
Sales conditions: 5% cash and 95% credit.
Exports to Bolivia, China, Colombia, India, Italy and Peru.
of Exports obtained from Customs 'National Service
Country
%last year %Accum.
-------------------------------------------------------
Bolivia
66,19 0,00
Peru
32,46 100,00
Colombia 0,72
0,00
India 0,38
0,00
China
0,23 0,00
Italy
0,01 0,00
Historical registries
Total 2012 = 000's$ 1.292.251 Accumulated 2013 = 000's$ 25.034
Total 2010 = 000's$ 927.898
Total 2009 = 000's$ 1.004.796
Total 2008 = 000's$ 1.049.049
Total 2007 = 000's$ 698.136
Total 2006 = 000's$ 593.169
Total 2005 = 000's$ 386.562
Total 2004 = 000's$ 414.430
Customers
Main customers are: Drugstores and line of business' distributors.
The 5 most important customers are:
Farmacias Ahumada S.A., Salcobrand S.A., Comercial Salco Ltda.,
Socofar S.A. and Farmacias Economicas del Sur S.A.
Purchases
Places orders with multiple suppliers
National: 60%
International: 40%
Purchase conditions: 100% collection.
Imports from Germany, Argentina, Brazil, Canada, China, Colombia, South Korea,
Ecuador, France, India, England, Italy, Mexico, Czech Republic, Sweden,
Switzerland, Turkey and United States
of Imports obtained from Customs 'National Service
Country
%last year %Accum.
-------------------------------------------------------
United
States
31,22 67,63
Argentina
18,77 3,86
India
14,27 0,00
Brazil
12,16 8,33
China
5,45 14,11
Germany
4,78 0,36
Italy
3,75 0,87
France
3,42 0,00
Colombia
2,84 2,74
Ecuador
1,04 0,00
Canada
0,83 0,00
Switzerland
0,54 0,00
South
Korea
0,38 0,00
England
0,30 2,03
Czech
Republic
0,12 0,00
Sweden
0,10 0,01
Mexico
0,00 0,00
Turkey
0,00 0,00
Historical registries
Total 2012 = 000's$ 3.191.951 Accumulated 2013 = 000's$ 262.864
Total 2010 = 000's$ 4.087.933
Total 2009 = 000's$ 2.582.968
Total 2008 = 000's$ 4.978.599
Total 2007 = 000's$ 3.550.871
Total 2006 = 000's$ 3.294.783
Total 2005 = 000's$ 2.378.414
Total 2004 = 000's$ 2.071.567
- Industrias Quimicas Reno S.A.
- Mathiesen S.A.C.
- Merck S.A.
- Plasticos Tumani Ltda.
- Representaciones de Materias Primas Industriales Limitada
- Sorimex Ltda.
Employees: 390 employees
Location
- Management office and plant in a building located at Las Encinas 1777-
Valle Grande Lampa, Chile of 11500 mts2, industrial area, main street of
moderate traffic, construction in good conditions
- Office at Lima -
Peru
Subject does not have any
related company.
Real estates
Subject registers real estates
- Industry, Emilio Vaisse 570 Providencia Santiago-Chile, Fiscal value of
000's$ 313.724.-, rol Nº 926-21
- Building, Emilio Vaisse 562 Providencia Santiago-Chile, Fiscal value of
000's$ 61.637.-, rol Nº 926-19
- Sites, Av. Américo Vespucio 1071 Lt 1B Pc 2 Huechuraba Santiago-Chile,
Fiscal value of 000's$ 518.706.-, rol Nº 3.120-129
- Building. Emilio Vaisse 530-536 Providencia Santiago-Chile, Fiscal
value of 000's$ 76.161.-, rol Nº 926-14
Total fiscal appraisal $970.227.158.-
Owns vehicles for the company's
use
2 vans Chevrolet Luv. 3 vans Hyundai Grace Van 1996 and
Own equipment
- Control laboratory/instruments , equipments , installations and
other necessary elements .
Insurance Company:
-Mapfre Cia. de Seguros Generales de Chile S.A.
Due
: Unspecified due dates
In force : Annual
Risks : Total
cover.
Objetive : Assets in general.
President
: Alberto Albala Weissmann
TAX:2305363-2
Vice President : Fernando Eduardo Albala
Chamudes TAX:6937870-6
General Manager : Ricardo Bartel Jeffery
Commercial Manager
: Humberto Zukermann
Adm. & Finances Manager :
Claudio Dueñas Goldberg
General Accountant : Alejandro
Quinteros Escobar TAX:5745249-8
Ricardo Bartel Jeffery
Studies
: Graduated at Universidad Católica de Chile .
Titled as : Civil
Engineer.
Position :
General Manager
Legal
Structure :
Private Stock Company
Constitution date
: 24/09/1962. Registered on leaf 531 N°293 of the Santiago
Trade Registry, year 1963 as a
private stock company called ELIAS ALBALA FRANCO,
LABORATORIO MAVER S.A.
Term of duration :
5 Year automatically renewable for equal and successive periods
Legal Address : Santiago - Chile
Current Social Capital : 000's$
3.979.252.-Divided to 100.000.000.000.- bearer shares unique series
Shareholder : 3
- 51,00% 77188050-9 Inversiones OTC Ltda
- 34,13% Inversiones OTC I Ltda.
- 14,87% 96718240-0 Inversiones Piedrabuena Ltda
Administration is held by General Manager.
Legal changes
Public Deed dated 17/11/1993, notary Alvaro Bianchi Rosas, Santiago, published
in the Official Gazette dated 30/12/1993 page N° 14, corporate purpose was
modified: it is the elaboration, manufacturing and sale of toiletries,
pharmaceutical products and specialties. Import & export of these products,
representation of domestic and foreign producers for the elaboration of
pharmaceutical products and cosmetics. Commercial & industrial development
of laboratory MAVER located at Emilio Vaisse 574, Santiago. The investment and
administration of goods, shares, bonds, debentures, mutual funds,etc.
Public Deed dated 16/12/1997, notary Eduardo Pinto Peralta, Santiago, published
in the Official Gazette dated 19/12/1997 page N° 72, corporate structure was
modified: private stock company by limited liability partnership. Also
corporate name was modified: ELIAS ALBALA FRANCO, LABORATORIO MAVER S.A. was
replaced by
ELIAS ALBALA FRANCO LABORATORIO MAVER LTDA. Finally statutes were modified: new
text was established indicating that capital is $1.026.300.351.-
Public Deed dated 04/02/1999, notary Enzo Veglia Mulack, Santiago, published in
the Official Gazette dated 31/03/1999 page N° 37, partners were modified:
Alberto Albala Weissmann sold, ceded and transferred his total rights (28.87%)
to Inversiones OTC S.A. Fernando Albala Chamudes sold and transferred all his
participation equivalent to 24.54% to Inversiones OTC S.A. Mónica Albala
Chamudes sold, ceded and transferred her total rights equal to 0.51% to
Inversiones OTC S.A. Consequently, the partnership is formed by: Inversiones
OTC
S.A., which increased its rights to 85.12% and by Inversiones Piedrabuena Ltda.
with a 14.88% of participation.
According to current partners' decision, capital was increased: from
$1.026.300.351.- to $1.284.251.703.- subscribed as indicated above.
Public Deed dated 15/02/2000, notary Enzo Veglia Mulack, Santiago, published in
the Official Gazette dated 25/02/2000 page N° 21, capital was increased: from
$1.284.251.703 to $3.979.251.703 subscribed by partners as indicated.
Public Deed dated 18/12/2002, notary Andrés Allende, Santiago, published in the
Official Gazette dated 03/01/2003 page N° 27, statutes were modified: did not
publish details.
Public Deed dated 22/05/2003, notary René Benavente Cash, Santiago, published
in the Official Gazette dated 31/05/2003 page N° 25, statutes were modified: it
was confirmed that business name is ELIAS ALBALA FRANCO, LABORATORIO MAVER
LTDA. and that the trade style LABORATORIO VALLE GRANDE LTDA. could be used,
too.
Public Deed dated 23/12/2009, notary Juan Francisco Alamos O., Santiago,
published in the Official Gazette dated 12/02/2010 page N° 29, statutes were
modified: regarding the division of Inversiones OTC Limitada into two
companies, i.e. the legal continuer which keeps the business name and a new
company to be called "Inversiones OTC I Limitada" which was
assigned a 34.127015199% of subject's capital as per the division, and
therefore became partner of subject company. Consequently, partners remained as
follows: Inversiones OTC Limitada
with 51%, Inversiones OTC I Limitada with 34.127015199% and Inversiones
Piedrabuena Limitada with 14.872984801%.-
Current partners agreed to modify business name and legal structure into
"LABORATORIO MAVER S.A.", and its capital was confirmed in
$3.979.251.703 divided into 100.000.000.000 registered and no par value
shares.-
Public Deed dated 24/03/2010, notary Juan Francisco Alamos Ovejero Supl.
Notaría René Benavente, Santiago, published in the Official Gazette dated
17/04/2010 page N° 32, corporate name was modified: Elias Albala Franco
Laboratorio Maver S.A. by Laboratorio Maver S.A., with the trade style
"Laboratorio Valle Grande S.A."
Public Deed dated 12/07/2010, notary Juan Francisco Alamos Ovejero, Santiago,
published in the Official Gazette dated 04/08/2010 page N° 7, statutes were
modified: a new text of statutes was recorded indicating that subject is a
private stock company called "Laboratorio Maver S.A.", and that the
trade style "Laboratorio Valle Grande S.A." can also be used for
commercial and advertisement purposes and, in general, for all its operations
before third parties, including banks, financial institutions and before any
authority,
institution, service of government organism, and especially before the Public
Administration, including the Health Service and Public Health Institute (ISP).
BUSINESS FOUNDED in 1923 by Elías Albala Franco as a natural person.
PUBLICATIONS
Information regarding subject is supplied as follows
NOTA DE IMPORTANCIA of 27/03/2013 PHARMACEUTICAL PLANT
Subject has built its first pharmaceutical plant in the country since its
origin. It was built under ISO 9000, strictly fullfiling the current
regulations on pharmaceutical products required by the World Health
Organization (WHO), the Public Heath Ministry and the Public Health Institute.
The building has 11500m2, involving an investment of over US$20 millions. It
has segregated areas for the production and distribution of the large demanded
amounts of pharmaceutical products, all of them of the best quality, supported
by full-equipped Departments of Research, Quality Control and Development
.- -
INFORMATION SOURCES
Mr. Claudio Dueñas Goldberg, Adm. & Finances Manager, declined
financial figures, however, submitted the data shown in this report.
-Other outside information sources.
-As at 01/04/2013 $472,03 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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 |
|
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.