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Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS CAROSA S.A. DE C.V. |
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Registered Office : |
Zona Industrial Plan de la Laguna, Poligono G, Lote 1, Antiguo
Cuscatlán |
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Country : |
El Salvador |
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Date of Incorporation : |
29.08.1980 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Engaged in the manufacture and sale of medicines for human consumption: pills, syrups, vitamins, antiallergenic medicines, antihistamines, antidepressants, dermatological compounds, muscle relaxants,. |
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No. of Employees
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160 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
Note: In absence of financial credit limit could not
be provided
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Status : |
Moderate |
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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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El Salvador |
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 |
EL SALVADOR - ECONOMIC OVERVIEW
The smallest country
in Central America geographically, El Salvador has the third largest economy in
the region. With the global recession in 2009, real GDP contracted by 3.1%. The
economy slowed even further during 2010-12. Remittances accounted for 17% of
GDP in 2011 and were received by about a third of all households. In 2006, El
Salvador was the first country to ratify the Dominican Republic-Central
American Free Trade Agreement (CAFTA-DR), which has bolstered the export of
processed foods, sugar, and ethanol, and supported investment in the apparel
sector amid increased Asian competition. El Salvador has promoted an open trade
and investment environment and has completed a wave of privatizations extending
to telecom, electricity distribution, banking, and pension funds. The
Salvadoran Government maintained fiscal discipline during post-war reconstruction
and reconstruction following earthquakes in 2001 and hurricanes in 1998 and
2005, but El Salvador's external debt has been mounting over the last several
years. Taxes levied by the government include a value added tax (VAT) of 13%,
income tax of 30%, excise taxes on alcohol and cigarettes, and import duties.
The VAT accounted for about 51.7% of total tax revenues in 2011. El Salvador's
external debt amounts to about one-fourth of GDP. In 2012, El Salvador
successfully completed a $461 million compact with the Millennium Challenge
Corporation (MCC) - a United States Government agency aimed at stimulating
economic growth and reducing poverty - in the country's northern region, the
primary conflict zone during the civil war, through investments in education,
public services, enterprise development, and transportation infrastructure. In
January 2013, the MCC approved El Salvador as eligible for a possible second
MCC compact
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Source
: CIA |
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CORRECT COMPANY NAME |
LABORATORIOS
CAROSA S.A. DE C.V. |
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TRADE NAME |
LABORATORIOS
CAROSA |
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TAXPAYER REGISTRATION |
NIT 06142908800034 |
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MAIN ADDRESS |
Zona Industrial Plan de la
Laguna, Poligono G, Lote 1, Antiguo Cuscatlán, |
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COUNTRY |
EL SALVADOR |
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TELEPHONE |
(503) 22127200 - 22127210 |
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CORPORATE E-MAIL |
grupocarosa@softhome.net |
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WEB |
www.grupocarosa.com (en
construcción) |
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COMMENTS |
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Other e-mail addresses: gerente.financiero@grupocarosa.compagos.exterior@grupocarosa.comconta.carosa@grupocarosa.com |
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LEGAL STATUS |
Stock Company of Variable
Capital |
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DATE OF INCORPORATION |
29AUG1980 |
STARTING DATE |
28/01/1981 |
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PLACE OF REGISTRY |
La Libertad |
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NOTARY OFFICE |
Lic. Rodolfo Antonio Parker S. |
DURATION |
Perpetual |
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REGISTRATION |
No.10,Book 296 of Companies,
pp.109-123; File 4704 |
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INITIAL CAPITAL |
US$57,142.86 Dollars |
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CURRENT PAID-IN CAPITAL |
US$1,500,000 Dollars |
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CURRENT EXCHANGE RATE (US$) |
C/.8.75 per USD1 |
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COMMENTS |
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The Board of Directos was registered under No. 31, Book 2597 of Companies; Pages 101/103 (as from May 23, 2010) for a five-year period, which was recorded on August 24, 2010.Other Registry: IVA (VAT) 8095-0. |
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SACA
CHAHIN, CARLOS ROBERTO |
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TITLE |
General Manager |
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NATIONALITY |
Salvadorean |
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D.O.B. |
21MAR1945 |
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ID |
DUI 0407210345001-0 |
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CIVIL STATUS |
Married to Alicia Zedan |
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DOMICILE |
Urbanización Sierra Santa
Elena, El Chinameca 3, Antiguo Cuscatlán / La Libertad |
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PROFESSION |
Businessman |
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TAX ID |
02163194-7 |
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FATHER'S NAME |
Ricardo David Saca |
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MOTHER'S NAME |
Margoth Chahin |
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BACKGROUND INFORMATION |
Birthplace: Chalatenango.Parents: Ricardo David Saca and Margoth Chahin.Registered domiciles:- 79 Avenida Norte 613, Colonia Escalón, San Salvador.- Entre 9 y 11 Calle Poniente, Colonia Escalón, San Salvador.- 9 Calle Poniente, entre 79 y 81 Avenida Norte 613, San Salvador.Vehicles: He is referred to own the following vehicles- TOYOTA car, year 1993, registration plate P209605- CHEVROLET car, year 1993, registration plate P222735- CHEVROLET minibus, year 1989, registration plate P89542- CHEVROLET car, year 1982, registration plate P133246- CHEVROLET car, year 1975, registration platee P98887No lawsuits against him were found. |
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ASSOCIATED AS PER OUR DATABASE TO |
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SIC Classification |
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Main activity |
Subject is engaged in the manufacture and sale of medicines for human consumption: pills, syrups, vitamins, antiallergenic medicines, antihistamines, antidepressants, dermatological compounds, muscle relaxants,.Trademark: "CAROSA". |
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O P
E R A T I O N S |
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Import |
Yes |
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Country |
(From
Germany, Guatemala and USA) |
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Export |
Yes |
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COUNTRY |
(To
Guatemala and Nicaragua) |
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% CASH SALES / METHOD |
20% |
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% Credit SALES / Terms |
80%
(Invoices: 30, 45, 60 days) |
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% Ventas exterior (Paises) |
10% |
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% DOMESTIC PURCHASES |
20% |
% FOREIGN PURCHASES |
80% |
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SELLING TerritorY |
Domestic
market (90%) |
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EMPLOYEES |
160 |
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Comments |
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Main clients include hospitals and drugstore chains, among others. Some of them are listed below:- Ministry of Public Health and Social Assistance- - Farmacia El Salvador- Farmacias San Nicolás- Farmacias San Benito- Farmacias Las AméricasIts production plant operates in a 8-hour shift and depending on the product demand it operates up to two 8-hour shifts .Its Industrial plant has GMP certification.
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Disposition |
C: Poor. Very few information
was given. Politely. |
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Interviewee(s) |
Walter Mena |
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Position(s) |
Accountant |
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Information provided |
The interviewee only gave us operating data except for figures. |
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SALES |
US$
0.00 () |
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FINANCIAL SITUATION |
B: FAIRWe should mention that there are no notes against it. |
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PROPERTY OF THE COMPANY |
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INSURANCE |
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Insurance Comments |
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No insurance-related information could be obtained. |
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TRADE REFERENCES, CREDIT BUREAU,
LAWSUITS, BANKS (Confidential Information) |
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TRADE REFERENCES |
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Note
: Other suppliers did not provide information or could not be consulted |
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Explanation about commercial reputation |
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CREDIT OPINION |
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Consulted Credit Amount : |
MAXIMUM |
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Given the refusal of providing balances, not knowing their
payment references and other informations, we regret not being able to provide
a credit opinion. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.48 |
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1 |
Rs.99.66 |
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Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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 |
-- |
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.