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Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ELISIUM S.A.
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Registered Office : |
Bernardo de Irigoyen 308 5º B. Buenos Aires City |
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Country : |
Argentina |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
18.08.1993 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Laboratory of medical specialty. |
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No. of Employees : |
35 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 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.
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Source : CIA |
ELISIUM S.A.
C.U.I.T. 30-66175391-5
INCORPORATED IN 1993. BEGINNER OF ACTIVITIES. BALANCE SHEET AS OF 30/06/2011:
BALANCED ECONOMIC-FINANCIAL POSITION WITH POSITIVE FINAL PROFITABILITY. NO
NEGATIVE REGISTERED. FIT FOR OPERATIONS OF CURRENT IMPORTANCE WITH ADDITIONAL
GUARANTEES.
> LABORATORY OF MEDICAL SPECIALTY.
LEGAL FORM:
PUBLIC LIMITED
COMPANY
CREATED: 18.08.1993
REGISTERED RPC: 17.09.1993
R.P.C.: Nº 1.578.103
DURATION: 99 YEARS
END OF FISCAL YEAR: 30.6
Fiscal Address: Bernardo de Irigoyen 308 5º
B. Buenos Aires City, REPUBLIC of ARGENTINA.
Operative address: Bacacay 1739, Buenos Aires City, Republic of Argentina.
Phone: 54-11- 4633-6421/4633-5790/4633-5789
PRESIDENT: LUIS ALBERTO ANTONIO
RADICI
DIRECTORS: ALDO FABBRI
ALBERTO CESAR ALVAREZ SAAVEDRA
EUGENIO ALBERTO CASASCO
ALTERNATES: LUIS ALBERTO RODRIGUEZ
EUGENIO ANDRES CASASCO
Using signature: President.
Ordinary shares:
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Subscribed and integrated $ 400.000.-
The capital is contributed equally by LABORATORIOS DR. GADOR and LABORATORIOS
CASASCO S.A.
Reference activities were initiated and implemented by the
company in the course of 1993, which was created instances by Laboratorios
Casasco and Dr. Gador, who integrate their capital equally.
Balance general at 30/06/2011.
General Structure:
==================
ASSETS CURRRENT $ 26.713.932 96,8%
ASSETS NON-CURRENT $ 870.563 3,2%
LIABILITIES CURRENT $ 7.603.314 27,6%
NET WORTH $ 19.981.181
72,4%
NET SALES $ 57.753.118
100,0%
FINAL UTILITY $ 6.964.206 12,1%
ECONOMIC COMMENTARY:
--------------------
The figures above show a balance sheet and financial economic structure
favorable and results operating compensatory.
In relation to the immediately preceding year, there was an increase in sales
of 15.1%, but the end result was lower by 22.8%.
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The society is dedicated to the development
of the following activities:
Manufacture and marketing of medical specialties.
Among the company the following brands:
ADORMIR BUSCOVITAL
AMOXIUM CENELIS
AMUCTOL CRISTERONA
APLAKET DIOCAM
ARTHROXEN ELIBIT
BIBIX ELICIT
BODY ELICLONA
BODIMANAN ELILAN
BROMELIS ELIPAT
ELISIUM ELITAR
MARVIL NUTRIFARMA
SURVY UNICOTIN
* 35
EMPLOYEES.
BBVA BANCO FRANCES
HSBC BANK
Branch. Flores.
INSURANCE:
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LA HOLANDO S.A.
CREDIT RISK MARCH 2013
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HSBC BANK $ 4.414.300
SITUATION 1: NORMAL.
It doesn't register delinquencies, trials,
protests or other negative records.
It fulfills correctly its commercial and bank commitments.
* NOT OBJECTIONS.
Keeping in mind its good backgrounds, the
company is feasible for credit treatment of current amounts and with
appropriate guarantees.
* FIT FOR CURRENT CREDITS
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.62 |
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UK Pound |
1 |
Rs.84.18 |
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Euro |
1 |
Rs.71.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.