|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANOFI-AVENTIS DE COLOMBIA SA |
|
|
|
|
Registered Office : |
Carrera 9 No. 30-29, Urbanización Industrial Los Mangos, Cali |
|
|
|
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Country : |
Colombia |
|
|
|
|
Date of Incorporation : |
18.08.1999 |
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|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Legal Form : |
Stock Company |
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|
|
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Line of Business : |
Manufacture, import, export of pharmaceutical products for human consumption. |
|
|
|
|
No. of Employees : |
400 (approximately) |
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) |
|
Colombia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COLOMBIA - ECONOMIC OVERVIEW
Colombia's consistently sound economic policies and
aggressive promotion of free trade agreements in recent years have bolstered its
ability to face external shocks. Real GDP has grown more than 4% per year for
the past three years, continuing almost a decade of strong economic
performance. All three major ratings agencies have upgraded Colombia's
government debt to investment grade. Nevertheless, Colombia depends heavily on
oil exports, making it vulnerable to a drop in oil prices. Economic development
is stymied by inadequate infrastructure, weakened further by recent flooding.
Moreover, the unemployment rate of 10.3% in 2012 is still one of Latin
America's highest. The SANTOS Administration's foreign policy has focused on
bolstering Colombia's commercial ties and boosting investment at home. The
US-Colombia Free Trade Agreement (FTA) was ratified by the US Congress in
October 2011 and implemented in 2012. Colombia has signed or is negotiating
FTAs with a number of other countries, including Canada, Chile, Mexico,
Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, China, Costa Rica,
Panama, and Israel. Foreign direct investment - notably in the oil and gas
sectors - reached a record $10 billion in 2008 but dropped to $7.2 billion in
2009, before beginning to recover in 2010, and reached a record high of nearly
$16 billion in 2012. Colombia is the third largest Latin American exporter of
oil to the United States, and the United States' largest source of imported
coal. Inequality, underemployment, and narcotrafficking remain significant
challenges, and Colombia's infrastructure requires major improvements to
sustain economic expansion.
Source
: CIA
|
IDENTIFICATION |
|
|
COMPANY NAME |
SANOFI-AVENTIS DE COLOMBIA SA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
830010337-0 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Carrera 9 No. 30-29, Urbanización Industrial Los Mangos |
|
CITY/PROVINCE/STATE |
Cali |
|
PHONE NUMBER (S) |
(57-1) 621.4400/ 593.6049 |
|
FAX NUMBER |
(57-1) 621.8400/ 744.4233 |
|
E-MAIL |
jesus.cubidas@sanofi.com |
|
WEB SITE |
www.sanofi.com |
|
COMMENTS OF IDENTIFICATION.- |
This report was requested with address: CRA 9 # 30-29,Cali ,COLOMBIA.
Please be advised that the correct address is the one shown in the heading. |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
BOTERO CAICEDO, MAURICIO |
General Manager/Legal Rep. |
|
|
CUBIDES BALLESTEROS, JESUS HERNANDO |
Legal Representative 1st Substitute |
|
|
SALAZAR ARIAS, RICARDO EMILIO |
Legal Representative 2nd Substitute |
|
|
QUINTERO AREAS, SANDRA MILENA |
Statutory Auditor |
|
|
VALDERRAMA TAPIERO, NATALIA ANDREA |
Deputy Statutory Auditor |
|
|
CASTILLO MORENO, GEOVANNI |
Accountant |
|
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AVENTIS HOLDING INC. |
Shareholder |
|
|
WHO IS WHO? |
|
AVENTIS HOLDING INC. |
|
COLOMBIA,. |
|
COMMENTS ON LEGAL ASPECTS. - |
|
Check digit: 0 Its check digit is a digit added to the RUC, which is a
key number to be used in error detection and possible correction, given by
the Superintendency of Companies. The subject is member of the Unique
Business Registry (RUE), with the following data: Commercial Registry No.:
669736 File No.: 28355 Registration date: 19951024 Registration state: ACTIVE
It is member of the Chamber of Commerce of Bogota (CCB). Afiliada a la Camara
de Comercio de Bogota (CCB) |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
18/08/1999 |
|
REGISTERED IN |
Bogota DC |
|
DURATION |
Unlimited |
|
PAID-UP CAPITAL |
Ps$14,627,751,000.00 Pesos |
|
LAST CAPITAL INCREASE |
Year 2008 |
|
NET WORTH |
Ps$190,345,667,000.00 (as of 31/12/2011) |
|
TYPE OF SHARES |
Registered stock |
|
LISTED AT STOCK EXCHANGE |
NO |
|
SHARE VALUE |
Ps$100.00 Pesos |
|
% CASH SALES/PAYMENT METHOD |
50% |
|
IMPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 77,449,209.00 |
|
COUNTRIES |
France, Germany, Brazil, USA, Mexico |
|
TERMINOS |
Operations: 1067 |
|
YEAR |
2011 |
|
AMOUNT |
US$ 59,712,471.30 |
|
COUNTRIES |
France, Germany, Brazil, USA, Mexico, United Kingdom, India, China |
|
TERMINOS |
Operations: 1155 |
|
YEAR |
2010 |
|
AMOUNT |
US$ 55,329,020.90 |
|
COUNTRIES |
France, Germany, Brazil, USA, Mexico, United Kingdom, India, China,
Venezuela, Italy |
|
TERMINOS |
Operations: 1047 |
|
EXPORTS |
|
|
YEAR |
2012 |
|
AMOUNT |
US$ 11,053,674.64 |
|
COUNTRIES |
Panama, Venezuela, Ecuador, Peru, Chile, Uruguay, Guatemala, El
Salvador |
|
TERMINOS |
Operations: 271 |
|
YEAR |
2011 |
|
AMOUNT |
US$ 10,294,816.62 |
|
COUNTRIES |
Panama, Venezuela, Ecuador, Peru, Chile |
|
TERMINOS |
Operations: 237 |
|
YEAR |
2010 |
|
AMOUNT |
US$ 15,279,390.25 |
|
COUNTRIES |
Panama, Venezuela, Ecuador, Peru, Chile, Uruguay,
Guatemala, El Salvador |
|
TERMINOS |
Operations: 247 |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
ACCOUNT OPENED |
More than 10 years ago |
|
CREDIT FACILITIES |
Ps$200,000,000.00 Pesos |
|
DEADLINES |
Terms: 60 days |
|
PRODUCTS SOLD |
Printing services |
|
RATING |
PROMPT |
|
CREDIT FILES |
|
|
Other consulted suppliers just confirmed subject as client and did not
disclose any further data on the grounds of confidentiality. |
|
|
COMMENTS RELATED COMPANIES |
|
The subject is subsidiary of SANOFI-AVENTIS with headquarters at Av.
Francia 174, Paris, France. |
|
RELATED
COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
SANOFI AVENTIS DE CHILE SA |
92.251.000-8 |
CHILE |
|
SANOFI PASTEUR SA |
830014061 |
COLOMBIA |
|
SANOFI-AVENTIS ARGENTINA SA |
30-50144541-6 |
ARGENTINA |
|
SANOFI-AVENTIS SA |
2375365-K |
GUATEMALA |
|
SANOFI-AVENTIS SA DE CV |
APH9511233R9 |
MEXICO |
|
FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We had an interview with Mr. Geovanni Castillo (Accountant) who
furnished commercial data on the company except for the financial figures on
the ground of confidentiality. Through outside sources, we obtained the
balance sheets as of 31/12/2011 and 31/12/2010 (12 months), expressed in
Colombian Pesos, as follows: |
|
GENERAL BALANCE
SHEET |
|||
|
Balance Date |
31/12/2011 |
31/12/2010 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,941.50 |
1,920.50 |
|
|
.Current Total |
212,586,426,000.00 |
158,173,030,000.00 |
34.40 |
|
.Net Fixed |
53,292,832,000.00 |
49,849,138,000.00 |
6.91 |
|
.Total Assets |
265,879,258,000.00 |
208,022,168,000.00 |
27.81 |
|
.Total Current Liabilities |
65,697,549,000.00 |
40,869,333,000.00 |
60.75 |
|
.Long Term Accounts |
9,836,042,000.00 |
5,572,648,000.00 |
76.51 |
|
Total Liabilities |
75,533,591,000.00 |
46,441,981,000.00 |
62.64 |
|
Total Equity |
190,345,667,000.00 |
161,580,187,000.00 |
17.80 |
|
Total Liabilities and Equity |
265,879,258,000.00 |
208,022,168,000.00 |
27.81 |
|
PROFIT AND LOSS
ACCOUNT |
|||
|
Balance Date |
31/12/2011 |
31/12/2010 |
|
|
Currency |
Colombian Peso |
Colombian Peso |
|
|
Exchange Rate |
1,941.50 |
1,920.50 |
|
|
Net Sales |
390,297,187,000.00 |
341,467,807,000.00 |
14.30 |
|
Profit(loss) |
77,549,451,000.00 |
50,011,910,000.00 |
55.06 |
|
RATIOS FINANCIAL |
|||
|
PERIOD |
2,011.00 |
2,010.00 |
0.00 |
|
.NET WORKING CAPITAL |
146,888,877,000.00 |
117,303,697,000.00 |
0.25 |
|
.CREDIT RATING |
3.24 |
3.87 |
-0.16 |
|
.CONTENTS OF THE ACID TEST |
0.00 |
0.00 |
|
|
.INDEBTEDNESS |
3.52 |
4.48 |
-0.21 |
|
.LIABILITIES, CAPITAL |
0.00 |
0.00 |
|
|
.TOTAL ASSET TURNOVER |
1.47 |
1.64 |
-0.10 |
|
.RETURN ON EQUITY |
0.00 |
0.00 |
|
|
.NET RETURN ON SALES |
0.00 |
0.00 |
|
|
FINANCIAL
COMMENTS.- |
|||
|
The subject is an industrial company with a long experience in the
market, which has been operating normally. Nothing negative learned, which
makes us estimate it conducts operations normally. Besides, its products
enjoys good acceptance at national market. COUNTRY CONTEXT - COLOMBIA: The
below Country comments were obtained from a highly regarded public source
that issues economic comments on all of World's countries. Taxes: · Colombian
income tax: 38.5% on the net profit-business:. · Tax agreements with the
Andean Community and Spain which allow residents in this countries to have a
special tax treatment. · Alphabetic currency code for every country,
established by the International Organization for Standardization (ISO) 4217:
Colombian Peso (COP) Main economic indicators: · External debt: US $73.41
billion (31 December 2012 est.) · International reserves: US$34.74 billion
(31 December 2012 est.) · Inflation rate forecasted: 3.2% (2012 est.) · GDP
growth rate: 4.3% (2012 est.) · Annual GDP per capita: US$10,700 (2012 est.)
· GDP - composition by sector: agriculture: 6.8% industry: 38.1% services:
55.1% (2012 est.) · Labour force of 23.08 million people divided by:
agriculture: 18% industry: 13% services: 68% · Unemployment rate: 10.3% (2012
est.) Productive sectors: Agriculture - products: coffee, cut flowers,
bananas, rice, tobacco, corn, sugarcane, cocoa beans, oilseed, vegetables;
shrimp; forest products · Industrial- products: textiles, food processing,
oil, clothing and footwear, beverages, chemicals, cement; gold, coal,
emeralds Foreign trade: Exports: US$59.96 billion (2012 est.) country
comparison to the world: 55 Exports - commodities: petroleum, coal, emeralds,
coffee, nickel, cut flowers, bananas, apparel Exports - partners: US 42%,
Netherlands 4.7%, China 4.2% (2011) Imports: US$55.49 billion (2012 est.)
country comparison to the world: 54 Imports - commodities: industrial
equipment, transportation equipment, consumer goods, chemicals, paper
products, fuels, electricity Imports - partners: US 29.2%, China 11.9%,
Mexico 11.5%, Brazil 5.3% (2011) Final brief: Commercial Country Risk: MEDIUM
Political Country Risk: LOW |
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DETAILS OF FIXED ASSETS.- |
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Fleet of vehicles Office equipment, filings, computer equipment, copy machines,
calculators, etc |
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INSURANCE.- |
|||
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No insurance policies found through outside sources. |
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RATE OF EXCHANGE |
US$1.00 = Ps$1,863.50 as of report date |
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BACKGROUND (HISTORY). - |
|
It originally operated with company name: SANOFI-AVENTIS PHARMA SA,
which merged with SANOFI SYNTHELABO DE COLOMBIA SA in August 2006. Then, it
changed its company name to the current one. |
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OPERATIONS |
|
|
SECTOR |
1.-INDUSTRY |
|
ACTIVITY |
PHARMACEUTICAL PRODUCTS |
|
ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION,
PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
2423-Manufacture of Pharmaceutical, Botanical Products and Medicinal
Substances |
|
MAIN ACTIVITY |
Manufacture, import, export of pharmaceutical products for human
consumption. |
|
% CREDIT SALES/TERMS |
50% (Invoice/ 30 days) |
|
TERRITORY OF SALES |
90% (Domestic market) |
|
% FOREIGN SALES |
10% |
|
N. OF EMPLOYEES |
400 (approximately) |
|
LOCATION |
|
COMMENTS OF OPERATIONS.- |
|
Sales are made 100% directly. At heading address, we could observe a
large stock of merchandise and a good flow of clients. Its products are traded
throughout Colombia. Some of their segments are private and public companies
from different sectors. Among their clients, we can mention large
corporations, small and medium-sized companies. Main competitors are:
PRODUCTOS ROCHE SA NOVARTIS DE COLOMBIA SA MERCK COLOMBIA SA BAYER SA
BOEHRINGER INGELHEIM SA BRISTOL MYERS SQUIBB SA GRUNENTHAL COLOMBIANA SA
Workshift: Monday to Friday from 9:00 am to 18:00 pm. Saturday from 09:00 am
to 14:00 pm. |
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
IMPRESOS RICHARD LTDA |
Sonia Gomez |
(57-2)485.1683 |
|
MERCK SA |
|
(57-1)425.4770 |
|
SANOFI PASTEUR SA |
|
|
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
BRISTOL MEYER |
|
|
U.S.A. |
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BANKERS /
REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCOLOMBIA |
|
|
|
COLOMBIA |
|
BBVA COLOMBIA |
|
|
|
COLOMBIA |
|
BANCO DE BOGOTÁ SA |
|
|
|
COLOMBIA |
|
BANCO SANTANDER COLOMBIA SA |
|
|
|
COLOMBIA |
|
CITIBANK COLOMBIA SA |
|
|
|
COLOMBIA |
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BANK COMENTS |
||||
|
The consulted banks reported they do not provide information on their
clients on the grounds of confidentiality. |
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|
CENTRAL RISK |
||||
|
Having consulted legal bulletins, fillings and other specialized publishings,
no that may affect its trade reputation were found. |
||||
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.62 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.96 |
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.