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Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIA CENTROAMERICANA DE QUIMICOS FARMACEUTICOS SA |
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Registered Office : |
Km 16.5 Carretera San Juan Sacatepequez, Lotes 24, Zona 6, Complejo
Ind. Mixco Norte |
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Country : |
Guatemala |
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Date of Incorporation : |
21.06.1990 |
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Legal Form : |
Stock Company |
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Line of Business : |
Pharmaceutical Products |
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No. of Employees : |
300 (approximately, at group level) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
|
Guatemala |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GUATEMALA - ECONOMIC OVERVIEW
Guatemala is the most populous country in Central America
with a GDP per capita roughly one-half that of the average for Latin America
and the Caribbean. The agricultural sector accounts for 13% of GDP and 38% of
the labor force; key agricultural exports include coffee, sugar, bananas, and
vegetables. The 1996 peace accords, which ended 36 years of civil war, removed
a major obstacle to foreign investment, and since then Guatemala has pursued
important reforms and macroeconomic stabilization. The Dominican Republic-Central
American Free Trade Agreement (CAFTA-DR) entered into force in July 2006
spurring increased investment and diversification of exports, with the largest
increases in ethanol and non-traditional agricultural exports. While CAFTA-DR
has helped improve the investment climate, concerns over security, the lack of
skilled workers and poor infrastructure continue to hamper foreign direct
investment. The distribution of income remains highly unequal with the richest
20% of the population accounting for more than 51% of Guatemala's overall
consumption. More than half of the population is below the national poverty
line and 13% of the population lives in extreme poverty. Poverty among
indigenous groups, which make up 38% of the population, averages 73% and
extreme poverty rises to 28%. Nearly one-half of Guatemala's children under age
five are chronically malnourished, one of the highest malnutrition rates in the
world. Given Guatemala''s large expatriate community in the United States, it
is the top remittance recipient in Central America, with inflows serving as a
primary source of foreign income equivalent to nearly two-fifths of exports or
one-tenth of GDP. Economic growth fell in 2009 as export demand from US and
other Central American markets dropped and foreign investment slowed amid the
global recession. The economy gradually recovered in 2010-12.
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
INDUSTRIA CENTROAMERICANA DE QUIMICOS FARMACEUTICOS SA |
|
TRADE NAME |
LABORATORIOS LAMFER / QUIFARCASA |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
562190-9 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Km 16.5 Carretera San Juan Sacatepequez, Lotes 24, Zona 6, Complejo
Ind. Mixco Norte |
|
CITY/PROVINCE/STATE |
Mixco |
|
PHONE NUMBER(S) |
(502)2420.9090 |
|
FAX NUMBER |
(502)2437.4563 |
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E-MAIL |
servicioalcliente@lamfer.com.gt |
|
WEB SITE |
www.lamfer.com.gt |
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CR-RATING |
LOW RISK |
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PAYMENT HISTORY |
PAYMENTS USUALLY PROMPT |
|
COMMENTS OF IDENTIFICATION.- |
Other e-mail: ngodinez@lamfer.com.gt Other web site:
www.grupolamfer.com.gt The report was ordered as: LABORATORIOS LAMFER SA.
Please be advised that the correct company name is as shown in caption. Also,
this report was requested with address: Km 16.5 Carret. A San JUan
Sacatepequez Complejo Industrial Mixco, Norte Lote N 22, Guatemala - Central
America. Please be noticed that the correct form of this address is as
mentioned above. |
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LEGAL ASPECTS |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
21/06/1990 |
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REGISTERED IN |
Guatemala |
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REGISTRATION |
No.186661, Fo.420, Book 144, Exp.17917-97 |
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COMMENTS RELATED COMPANIES |
|
|
The subject is a member of the Lamfer Group. |
|
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
LAMMENS VAN-HYFTE, PETER HENDRIK ANTOON |
President |
50% |
|
LAMMENS, JUDITH ELENA TORRES BOLAÑOS DE |
Gral.Mger./Legal Rep. |
50% |
|
DE LA CRUZ GIRON, MIRIAN REBECA |
Logistics Director |
|
|
GODINES, NELSON |
Finance Manager |
|
|
FONSECA, SANDRA |
Purchasing Chief |
|
No negative information found.
|
INITIAL CAPITAL |
Q.5,000.00 Quetzales |
|
PAID-UP CAPITAL |
Q.10,000,000.00 Quetzales |
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NET WORTH |
Q.69,970,438.00 Quetzales (as of 31/12/2010) |
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LISTED AT STOCK EXCHANGE |
NO |
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PAYMENTS |
|
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TRADE REFERENCES |
|
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TYPE OF SUPPLIER |
NATIONAL |
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ACCOUNT OPENED |
1997 |
|
CREDIT FACILITIES |
No current operations limit |
|
MONTHLY AVERAGE |
Q.15,000.00 Quetzales |
|
DEADLINES |
Invoices at 30 days |
|
PRODUCTS SOLD |
Inputs |
|
RATING |
PROMPT |
|
COMMENTS.- |
Payments into bank account |
|
TYPE OF SUPPLIER |
NATIONAL |
|
ACCOUNT OPENED |
Over 20 years ago |
|
CREDIT FACILITIES |
Q.100,000.00 Quetzales |
|
DEADLINES |
Invoices at 60 days |
|
PRODUCTS SOLD |
Chemical products |
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RATING |
PROMPT |
|
COMMENTS.- |
Payments into bank account |
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CREDIT FILES |
|
|
The above banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
|
|
% CREDIT SALES/TERMS |
100% (Terms at 15, 30 days) |
|
RELATED COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
FARMAPROYECTOS SA |
2858356-6 |
GUATEMALA |
|
KOREL PLAST SA |
3674843-9 |
GUATEMALA |
|
KORELPRINT SA |
|
GUATEMALA |
|
MEDPHARMA SA |
2454380-2 |
GUATEMALA |
|
SELECT PHARMA SA |
2430172-8 |
GUATEMALA |
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COMMENTS ON LEGAL ASPECTS .- |
||
|
On 26/06/1990, the subject was provisionally registered at the Mercantile
Registry of Guatemala. Later, on 03/09/1990, it was definitively registered
at the Mercantile Registry of Guatemala. |
||
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FINANCIAL
INFORMATION |
|
CONTENT.- |
|
We had an interview with Mr. Nelson Godines (Finance Manager), who
provided partial information about the subject, except the financial figures
since they were not available at the moment of the interview. No financial
figures were possible to obtain through outside sources. COUNTRY CONTEXT -
GUATEMALA: The below information has been obtained from a highly regarded
public source that issues comments on all of worlds? countries. Taxes: ·
Guatemalan income tax: 5% on the net profit-business: · Alphabetic currency
code for every country by the International Organization for Standardization
(ISO) 4217:Quetzal (GTQ). Main economic indicators: · External debt: US$16.17
billion (31 December 2012 est.) · International net reserves: US$6.311
billion (31 December 2012 est.) · Inflation rate forecasted : 4% (2012 est.)
· GDP real growth rate: 3.1% (2012 est.) · Annual GDP per capita: US$5,200
(2012 est.) GDP - composition by sector: agriculture: 13% industry: 23.8%
services: 63.2% (2012 est.) · Labuor force of 5.571 million people divided
by: agriculture: 38% industry: 14% services: 48% Unemployment rate: 4.1%
(2011 est.) Productivity sectors: Agriculture - products: sugarcane, corn,
bananas, coffee, beans, cardamom; cattle, sheep, pigs, chickens · Industrial
- products:: sugar, textiles and clothing, furniture, chemicals, petroleum,
metals, rubber, tourism Foreign trade: Exports: US$9.864 billion (2012 est.)
country comparison to the world: 95 Exports - commodities: coffee, sugar,
petroleum, apparel, bananas, fruits and vegetables, cardamom Exports -
partners: US 37.9%, El Salvador 10.5%, Honduras 6.8%, Mexico 5.1% Imports:
US$15.57 billion (2012 est.) country comparison to the world: 86 Imports -
commodities: fuels, machinery and transport equipment, construction materials,
grain, fertilizers, electricity, mineral products, chemical products, plastic
materials and products Imports - partners: US 40.4%, Mexico 11.6%, China
8.2%, El Salvador 4.5% Final Brief: Commercial Country Risk: LOW Political
Country Risk: LOW |
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DETAILS OF FIXED ASSETS.- |
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Main assets: - Blistering - Laboratory equipment - Packing machinery -
4 Panels (HYUNDAI) - 1 Truck (HYUNDAI) - Computer equipment - 2 lift - Real
estate located at the above address |
|
INSURANCE.- |
|
The subject holds all-loss insurance policy with LA CEIBA SA and
SEGUROS G&T SA, valid until April 2014. (Coverage amount was not
disclosed). |
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RATE OF EXCHANGE |
US$1.00 = Q.7.98 as of report date |
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OPERATIONS |
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SECTOR |
1.-INDUSTRY |
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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 |
Maquila services of pharmaceutical products. Besides, provision of the
following services: advising, formulation, registration and analysis of quality
control. The subject has more than 150 formulations studies of stability in
lines of injectable, opthalmologic solutions, tablets, pills, granules,
capsules, liquids, oral and of external use like creams and unguents.
Likewise, labelling, packaging and packing in Blister pack services. |
|
TERRITORY OF SALES |
90% (domestic market) |
|
% FOREIGN SALES |
10% |
|
% LOCAL PURCHASING |
40% |
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% FOREIGN PURCHASING |
60% |
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N. OF EMPLOYEES |
300 (approximately, at group level) |
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LOCATION |
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OFFICES and PLANT: Located at the above address. It is a 3-story
premises on grounds of 8,400 sq.m plus an expansion of 2,000 sq.m of new
warehouses, factory for PET containers and lithography, valued at
US$3,500,000.00 Dollars. |
|
COMMENTS OF OPERATIONS: Imports come from Colombia, Argentina, Costa
Rica, Germany, Spain, Italy, USA, India, China, El Salvador. Exports go to
Nicaragua and Honduras. The subject has a client portfolio of 300 active
clients. |
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LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
CORPORACION QUIRSA SA |
Cleiton Albulez |
(502)6630.5353 |
|
RECASA |
Lucrecia de Caballero |
(502)2381.3030 |
|
MERCK SA |
Claudia Aguirre |
(502)2410.2400 |
|
ENVASES MALDONADO SA |
|
(502)2220.5898 |
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COMERCIAL IBERICA SA |
|
(502) 6634.0910 |
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
RHENOCHEM AG |
|
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GERMANY |
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FISCHER CHEMICALS |
|
|
SWITZERLAND |
|
SOFFIERA MEZAADIR |
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ITALY |
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FARMA VITRIUM SA DE CV |
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MEXICO |
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FARMABASE PHARMACEUTICAL |
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U.S.A. |
|
WENDA CO LTD |
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CHINA |
|
SCHOTT ENVASES FARMACEUTICOS SA |
|
(57-1) 335.3600 |
COLOMBIA |
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ROBERTO LOPAPIN & ASOCIADOS SA |
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ARGENTINA |
|
REINSA |
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COSTA RICA |
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BANKERS /
REFERENCE |
||||
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO RURAL SA |
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|
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GUATEMALA |
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CITIBANK NA GUATEMALA |
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|
|
GUATEMALA |
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BANCO REFORMADORA SA |
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|
|
GUATEMALA |
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BANCO INDUSTRIAL SA |
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|
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GUATEMALA |
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BANK COMENTS |
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|
Consulted banks do not give any information of their clients due to
bank secrecy. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
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.