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Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NELPA LIFESCIENCES, INC. |
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|
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Registered Office : |
305 Venture Building, Market Street corner Prime Street, Madrigal
Business Park, Ayala Alabang, Muntinlupa City |
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Country : |
Philippines |
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|
|
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Financials (as on) : |
2012 |
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Date of Incorporation : |
16.11.2009 |
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Legal Form : |
Private Corporation |
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Line of Business : |
To sell, trade at wholesale or otherwise distribute drugs, medicines,
pharmaceutical products, toilet articles and/or toiletries, cosmetics,
perfumeries and food nutritional products and preparations of all kinds and
description; to import, buy or otherwise acquire such drugs, medicines,
pharmaceutical products, toilet articles and/or toiletries, cosmetics,
perfumeries and food nutritional products and preparations of all kinds and
descriptions for the purpose of selling, trading and distributing the same. |
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|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Philippines |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PHILIPPINES - ECONOMIC
OVERVIEW
The economy has weathered global economic and financial
downturns better than its regional peers due to minimal exposure to troubled
international securities, lower dependence on exports, relatively resilient
domestic consumption, large remittances from four- to five-million overseas
Filipino workers, and a rapidly expanding business process outsourcing
industry. The current account balance had recorded consecutive surpluses since
2003; international reserves are at record highs; the banking system is stable;
and the stock market was Asia's second best-performer in 2012. Efforts to
improve tax administration and expenditure management have helped ease the
Philippines' tight fiscal situation and reduce high debt levels. The
Philippines has received several credit rating upgrades on its sovereign debt,
and has had little difficulty tapping domestic and international markets to
finance its deficits. Economic growth in the Philippines averaged 4.5% during
the MACAPAGAL-ARROYO administration, but poverty worsened during her term.
Growth has accelerated under the AQUINO government, but with limited progress
thus far in bringing down unemployment, which hovers around 7%, and improving
the quality of jobs. Underemployment is nearly 20% and more than 40% of the
employed are estimated to be working in the informal sector. The AQUINO
administration has been working to boost the budgets for education, health,
cash transfers to the poor, and other social spending programs, and is relying
on the private sector to help fund major infrastructure projects under its
Public-Private Partnership program. Long term challenges include reforming
governance and the judicial system, building infrastructure, improving
regulatory predictability, and the ease of doing business, attracting higher
levels of local and foreign investments. The Philippine Constitution and the
other laws continue to restrict foreign ownership in important
activities/sectors (such as land ownership and public utilities).
|
Source
: CIA |
NELPA
LIFESCIENCES, INC.
Company: NELPA LIFESCIENCES, INC.
Address: 305
Venture Building, Market Street corner Prime Street, Madrigal Business Park,
Ayala Alabang, Muntinlupa City
Country: Philippines
We conducted research and verification on NELPA LIFESCIENCES, INC..
Hereunder, our report, viz:
VERIFICATION WITH
SECURITIES & EXCHANGE COMMISSION (SEC):
NELPA LIFESCIENCES, INC..
Legal Entity - PRIVATE
CORPORATION
(Per 2013 SEC General Information
Sheet)
Certificate No. : CS200917852
Date : November 16, 2009
Term : Fifty (50) years
Taxpayer ID No. : 007-475-572
Address : Unit 305 Venture Bldg. Market St., cor.
Prime St., Madrigal
Business Park,
Ayala Alabang, Muntinlupa City
Telephone No. : 403-7764
To sell, trade at wholesale or otherwise distribute drugs, medicines,
pharmaceutical products, toilet articles and/or toiletries, cosmetics,
perfumeries and food nutritional products and preparations of all kinds and
description; to import, buy or otherwise acquire such drugs, medicines,
pharmaceutical products, toilet articles and/or toiletries, cosmetics,
perfumeries and food nutritional products and preparations of all kinds and
descriptions for the purpose of selling, trading and distributing the same.
(NOTE: Unless otherwise provided, amount
is in Philippine Peso (Php)
No. of
Shares Par
Value/share Amount
Authorized Capital
Stock - 87,500 Common 1.00 87,500.
Subscribed Capital - 87,500
87,500.
- Filipino - 52,500
- India - 35,000
Paid Up Capital -
Filipino 14,438.
Indian
35,000. 49,438.
|
Name |
Position |
Paid Up Amount |
|
1. Agustin C. Villanueva (Fil.) |
President |
12,688. |
|
2. Agnello J.M.J. Fernandes (Indian) |
Vice President/Treasurer |
17,500. |
|
3. Akhil Daftary (Indian) |
Director |
17,500. |
|
4. Angelo Roberto T. Villanueva
(Fil.) |
Corporate Secretary |
875. |
|
5. Damian M. Placido Jr. (Fil.) |
Director |
875. |
|
6. Luisito C. Deveza (Fil.) |
Asst. Corporate Sec. |
|
|
Total Paid-Up Capital: 49,438.
vvvvvvv |
||
Product Lines -
• Amoxicillin (Antibacterial)
• Chloramphenicol SAPHENICOL C500 (Antibacterial)
• Salbutamol BIOXAL (Anti-Asthma)
• Cafaclor CEFASAPH (Antibacterial)
• Ciprofloxacin CIPROSAN (Antibacterial)
• Cotrimoxazole COMBIZOLE (Antibacterial)
• Ascorbic Acid CORCEBIC-C (Vitamin)
• Paracetamol PARASAPH 500 TAB (Analgesic/Antipyretic)
• Metoprolol Tartrate PROMETIN (Beta Adrenoceptor
Blocker)
• Ibuprofen SAPHFEN (Analgesic/Nsaid)
• Tramadol SAPHTRAM (Opioid Analgesic)
Telephone No.: (63) 2 747-8625 /
403-7764
(Audited Financial Statement for
years 2012, 2011, & 2010, as compiled)
BALANCE SHEET
|
ASSETS |
|||
|
Current Assets |
2012
|
2011
|
2010
|
|
Cash |
17,182 |
20,468 |
21,549 |
|
Accounts Receivable Trade |
532,577 |
851,274 |
NIL |
|
Other Current Assets |
20,486 |
NIL |
NIL |
|
Total Current
Assets |
570,245 |
871,742 |
21,549 |
|
Non-Current
Assets |
|
|
|
|
Property and Equipment |
6,858 |
10,286 |
13,714 |
|
Intangible Assets-Net |
846,000 |
940,000 |
940,000 |
|
Deferred Tax Assets |
269,005 |
358,144 |
206,485 |
|
Rent Deposits |
43,192 |
44,609 |
44,609 |
|
Total
Non-Current Assets |
1,165,055 |
1,353,039 |
1,204,808 |
|
Total Assets |
1,735,300 Vvvvvvvvvvv |
2,224,781 vvvvvvvvvv |
1,226,357 Vvvvvvvvvv |
|
LIABLITIES AND
CAPITAL DEFIENCY |
|||
|
Current Liabilities |
|
|
|
|
Value Added Tax Payable |
58,755 |
23,680 |
NIL |
|
Income Tax Payable |
20,486 |
NIL |
NIL |
|
Withholding Tax Payable |
NIL |
1,490 |
1,490 |
|
Other Current Liabilities |
490 |
NIL |
500 |
|
Total Current
Liabilities |
79,731 |
25,170 |
1,990 |
|
Non-Current
Liabilities |
|
|
|
|
Due to Officers |
2,931,353 |
2,985,840 |
1,656,724 |
|
Total Non
Current Liabilities |
2,931,353 |
2,985,840 |
1,656,724 |
|
Total
Liabilities |
3,011,084 |
3,011,010 |
1,658,714 |
|
Equity |
|
|
|
|
Paid-Up Capital |
49,438 |
49,438 |
49,438 |
|
Deficit |
( 1,325,222 ) |
( 835,666 ) |
( 481,796 ) |
|
Total Capital
Deficiency |
( 1,275,784 ) |
( 786,228 ) |
( 432,358 ) |
|
Total
Liabilities and Equity |
1,735,300 Vvvvvvvvv |
2,224,781 vvvvvvvvvv |
1,226,357 vvvvvvvvvv |
INCOME STATEMENT
|
|
2012
|
2011
|
2010
|
|
Sales |
3,142,043 |
2,164,553 |
2,373,500 |
|
Cost of Sales |
( 2,117,737 ) |
( 1,519,986 ) |
( 2,044,682 ) |
|
Gross Income |
1,024,306 |
644,567 |
328,818 |
|
Operating Expenses |
( 1,586,976 ) |
( 1,150,097 ) |
( 476,256 ) |
|
Operating Loss |
( 562,670 ) |
( 505,530 ) |
( 147,438 ) |
|
Benefit from Income Tax |
73,114 |
151,659 |
44,232 |
|
Net Loss |
( 489,556 ) vvvvvvvvvvv |
( 353,871 ) vvvvvvvvvvvv |
( 103,206 ) vvvvvvvvvvvv |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.