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Report Date : |
30.05.2013 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS BETA S.A. |
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Registered Office : |
Avda. San Juan 2266/74 (1232), Buenos Aires City |
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Country : |
Argentine |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01/01/1953 |
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Com. Reg. No.: |
6603 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Production and Commercialization of Medicinal Specialities |
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No. of Employees : |
630 |
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.
Source
: CIA
LABORATORIOS BETA
S.A.
CUIT: 30-50152188-0
BEGINNER OF ACTIVITIES.
INCORPORATED IN 1953. BALANCE SHEET AS 31/12/2012: HIGH LEVEL OF DEBT AND
LOW RATE OF LIQUIDITY. IT DOESN'T REGISTER NEGATIVE. FIT FOR
OPERATIONS IN RELATION TO YOUR RESOURCES KNOWN AND WITH THE ADOPTION OF
APPROPRIATE GUARANTEES.
MEDICINAL
SPECIALITIES
PRODUCTION
COMMERCIALIZATION
Business type:
Public Limited Company
Incorporated: 01/01/1953
Registered: 07/05/1954
Register #: 6603
Duration: Until 01/01/2055
End of fiscal year: December 31st
Mr Javier Balentin
(Administration Chief).
Operatrive address, Administration and Sales Office: Avda. San Juan 2266/74
(1232), Buenos Aires City, Argentine Republic.
Phone/Fax: (54-11) 5921-6200
Tel.: (54-11) 5901-1245/1246
E-mail: balantin@betalab.com.ar
President:
ZIDAR GREGORIO DIEGO ANTONIO
Vice-president: ZIDAR GREGORIO (son)
Alternate Director: GAZZOLO CARLOS ALEJANDRO
Using of signature: President and Vicepresident.
The company's
corporate stock is established in $ 4.000.000 which has been totally subscribed
and paid in. There is no information about its contributors or the quantities.
ZIDAR GREGORIO
DIEGO ANTONIO
Argentinian, married, born on 17/11/1948, DNI. 5.407.604 (CUIT. 20-05407604-6),
with address in Ayacucho 1095 of Buenos Aires City.
He is registered in the following companies:
> PHARMITEC S.A.
President
> LABORATORIOS FARMEX S.A. President
> INDEFA S.A.
Director
The company was
incorporated in earely 1953 with the objective of performing its current
activities, operating nowadays in the previously exposed addresses.
In March/1994 it acquired by a statutory merger to the company EXA S.A., an old
firm of its area.
It is known that the subject is controlled by the company VANTEN S.A., a
pharmochemical industry from which no details were obtained.
BALANCE SHEETS AS
31.12.2011 and 31.12.2012.
31.12.2011
31.12.2012
ASSETS CURRENT $ 69.173.570 89.101.615
ASSETS NON-CURRENT $ 90.649.913 106.357.820
____________ ___________
TOTAL ASSETS $159.823.483 195.459.435
LIABILITIES CURRENT $107.843.075 122.519.680
LIABILITIES NON-CURRENT$ 13.091.349 31.792.472
NET WORTH $ 38.889.059
41.147.283
____________ ___________
TOTAL
$159.823.483 195.459.435
NET SALES $262.002.033
301.844.629
FINAL UTILITY $ 6.318.831
2.602.281
ECONOMIC COMMENTARY:
--------------------
The above figures show imbalance economic/financial, since equity are few to
deal with the general obligations assumed, with no proper backing from current
asset values that are deemed as normal realization in the short and medium
term.
The commercial operations achieved good sums of significance, having closed
with a meager profit. The final profit was much lower than that recorded in the
preceding year.
Despite the situation described society does not acknowledge difficulties in
their turn, given the good periods and rotating collection of inventories,
which allow you to get in time and resources needed to meet your obligations.
In general terms and within the guidelines above, the company will continue to
operate within normal lanes.
REAL ESTATE:
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> Avda.San Juan 2266/74, Buenos Aires City.
> Ruta Provincial 5 No.3753,
The company is
engaged in the production of medicinal specialities, reason why it has several
sectors, such as the "Pharmochemical Production" one, where it
performs the final purification of crystals of bovine, pork and human
semi-synthetic insulin. Other of its sectors is the "Pharmaceutical
Production", where it produces different pharmaceutical forms: injectable,
freeze-dried, pessaries and suppositories.
It has modern equipments and a highly specialized staff those in charge of
pharmaceutical and analytical development of the new pharmaceutical forms which
are clinically studied later with the purpose of assuring their adequate
therapeutic effectiveness.
Its plant located in Parque Industrial of
The plant of Cañada Rosquín, Santa Fe Province has the aim to obtain the named
"first precipitate" of bovine or porcine insulin, having a monthly
production capacity of glands is 75 tonnes.
MAIN PRODUCTS:
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AGLUCIDE
CIPROVIT
MAGNESICO FLOCUR RAPID
MUCODOSODOS
ANAUS
CLAROVIL GINAL CENT
MUCODOSODOS BIOTIC
ANDROLONE CLAROVIL UD
GLIMIDE
NEUREX
ATEROCLAR CLARVIX
HEGON
NEUTRACOL
ATEROCLAR DUO CLONAX
INMUNOARTRO
OXAGESIC
AVERTEX CLONAX
RAPID INTESUL
OXA GEL
BETASINT CONEXINE
LACTAMAX
PANGEST
BETALIN
CRISTACLAR LAGOTRAN
PSICOASTEN
BRINTENAL DISCRETAL
LISINAL
SESTRINE
CERCLETOL DOSODOS
LOTOQUIS SIMPLE
SIBLIX
CERELUC
DROPICINE MECANYL
TIANTREX
CIPROCORT ESTILOMICIN
MECANYL DUO
TONAL
CIPROVIT CALCICO ETACRIL
MEDILAXAN
TRIAMID
CIPROVIT ENERGIZANTE FLOCUR
MOTIONAL
VIGICER
It carries out imports from USA, India, France and Germany, exporting products to
several South American countries.
* 630 EMPLOYEES
MAIN SUPPLIERS:
---------------
CLOSE UP S.A.
VICROFER S.A.
AMPOSAN S.A.
FOREIGN TRADE:
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In the last twelve months it has carried out imports from the following
countries:
SWIZERLAND
U$S 658.399
INDIA U$S 262.173
REP.CHECA U$S 197.268
OTHERS U$S 438.251
TRADEMARKS:
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A.S. ADIBETA
ADREBLOCK ADYPOSET
AEROPLAST ALCALINETAS
AMPLIBIOTIC ANAUS
ANDROLONE ANSIOLIN
APOSET ASMIFORTAN
BETA BETAFENICOL
BETAGRIP BETALIN
BETASINT BETATOS
CERCLEROL CHENOCAL
CICLOPRONID DIURIBETA
FAGOBETA GASTROPEPTOL
IBORNOL INMUPROFER
Legal address and
laboratory: Ruta Provincial 5 No.3753,
Annexed Laboratory: Ruta Nacional
BANKS:
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BANCO DE GALICIA Y BS.AIRES
BANCO DE LA NACION ARGENTINA
BBVA BANCO FRANCES
CREDIT RISK:
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MARCH 2013
BANCO
GALICIA $ 20.848.300
PROV. B.A. 9.817.300
MACRO 9.420.200
SAENZ 8.013.500
INDUSTRIAL 7.342.500
HSBC 6.376.500
SUPERVIELLE 4.664.500
FINANSUR 2.566.900
CMF 1.947.800
AMEX 426.200
FRANCES 1.000
Situation
1: Normal Fulfillment.
Situation 2: With 30 to 90 delay days.
INSURANCE:
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ALLIANZ CIA.ARGENTINA DE SEGUROS S.A.
It is commercially
related with local and foreign companies. Most of them give it their credit
support, not making up to know objections about its payment record.
We consider
feasible the credit treatment with this company by amounts in relation to your
resources known with the adoption of appropriate guarantees.
* FIT FOR NEW OPERATIONS OF CREDITS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.24 |
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|
1 |
Rs.84.54 |
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Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.