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Report Date : |
29.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GENFAR SA |
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|
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Registered Office : |
Calle 20A No.44-70, Piso 7, Zona Industrial Puente Aranda |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.12.1997 |
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Com. Reg. No.: |
00011974, Book IX |
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Legal Form : |
Stock Company |
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Line of Business : |
Subject is engaged in the manufacture and trade of pharmaceutical products
for human and veterinary use. |
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No. of Employees |
1051 (on average) |
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 |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
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IDENTIFICATION |
|
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COMPANY NAME |
GENFAR SA |
|
TRADE NAME |
GENFAR |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
817001644-1 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Calle 20A No.44-70, Piso 7, Zona Industrial Puente Aranda |
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PHONE NUMBER(S) |
(57-1)368.0077 / 368.7958 |
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FAX NUMBER |
(57-1)368.3850/368.7983 |
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E-MAIL |
giovanni.castillo@sanofi.com |
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WEB SITE |
www.genfar.com |
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COMMENTS OF IDENTIFICATION.- |
Another e-mail address: atrujillo@genfar.com This report was ordered with
address: KM 43 Via Panamericana,Parque Ind. Caucadesa,Villarica, |
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LEGAL ASPECTS |
|
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
17/12/1997 |
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REGISTERED IN |
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DURATION |
16/12/2047 |
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NOTARY OFFICE |
6th Notary Office of |
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REGISTRATION |
Registration No. 00011974, Book IX |
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BACKGROUND (HISTORY).- |
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|
Subject started in 1967, with the creation of LABORATORIOS GENERICOS
FARMACEUTICOS SA; company that later was absorbed by the subject company. In
1997, subject was legally incorporated, been engaged in the production and
trade of pharmaceutical products for human and veterinary use in the local
and Latin American markets. In 2008, subject merged with Laboratorios
Genericos Farmaceuticos SA (Laboratorios Genfar SA), being this last one
dissolved without been liquidated. |
|
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
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NAME |
JOB TITLE |
% STAKE |
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BOTERO CAICEDO, MAURICIO |
Legal Representative |
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CUBIDES BALLESTEROS , JESUS HERNANDO |
1° Alternate Legal Rep. |
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SALAZAR ARIAS, RICARDO EMILIO |
2nd Alt. Legal Rep. |
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PESQUIN, GUSTAVO |
Principal Director 1st |
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XAVIER DUHALDE, FRANCOIS |
Principal Director 3rd |
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VARELA, JULIO HENRIQUE |
Principal Director 4th |
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GARABENTOS, JORGE |
Alternate Director 1st |
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DUGARTE DURAN, SANDRA LUCIA |
Alternate Director 3rd |
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GONZALEZ SUAREZ, WILSON ROBERTO |
Alternate Director 4th |
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CASTILLO |
Accountant |
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ADRIANA MARCELA, CLAROS BAUTISTA |
Tax Auditor |
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AGATON GARCIA , ANGELA PATRICIA |
Alternate Tax Auditor |
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No negative information given.
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PAID-UP CAPITAL |
Ps$ 8,418,090,000.00 Pesos |
|
LAST CAPITAL INCREASE |
December 2010 (Last known) |
|
NET WORTH |
Ps$129,597,833,000.00 Pesos (as of 31/12/2013) |
|
TYPE OF SHARES |
Registered shares |
|
LISTED AT STOCK EXCHANGE |
NO |
|
SHARE VALUE |
Ps$ 1,000.00 Pesos |
|
IMPORTS |
|
|
YEAR |
2014 (January - July) |
|
AMOUNT |
US$ 4,436,092.87 |
|
YEAR |
2013 |
|
AMOUNT |
US$ 31,327,253.18 |
|
COUNTRIES |
India, China, Germany, Austria, Argentina, Singapore, USA, Spain,
Switzerland, Brazil |
|
YEAR |
2012 |
|
AMOUNT |
US$ 19,836,087.33 |
|
COUNTRIES |
India, China, Germany, Austria, Argentina, Singapore, USA, Spain,
Switzerland, Brazil |
|
YEAR |
2011 |
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AMOUNT |
US$ 32,463,245.38 |
|
COUNTRIES |
|
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EXPORTS |
|
|
YEAR |
2014 (January - July) |
|
AMOUNT |
US$ 1,579,204.04 |
|
COUNTRIES |
|
|
YEAR |
2013 |
|
AMOUNT |
US$ 45,199,559.88 |
|
COUNTRIES |
Ecuador, Venezuela, Peru, Costa Rica, Nicaragua, El Salvador, Panama,
Guatemala, Dominican Republic, Paraguay |
|
YEAR |
2012 |
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AMOUNT |
US$ 47,940,594.25 |
|
COUNTRIES |
Ecuador, Venezuela, Peru, Costa Rica, Nicaragua, Panama, El Salvador, Guatemala,
Chile, Dominican Republic |
|
YEAR |
2011 |
|
AMOUNT |
US$ 41,956,483.12 |
|
COUNTRIES |
Ecuador, Venezuela, Peru, Costa Rica, Nicaragua, El Salvador, Panama,
Guatemala, Dominican Republic, Paraguay |
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PAYMENTS |
|
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TRADE REFERENCES |
|
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TYPE OF SUPPLIER |
NATIONAL |
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CREDIT FACILITIES |
No current operations limit |
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SUPPLIER FROM |
Over 8 years |
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MONTHLY AVERAGE |
Not specified |
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DEADLINES |
Terms at 30 days |
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PRODUCTS SOLD |
Plastic-pharmaceutical containers |
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RATING |
PROMPT |
|
COMMENTS.- |
Ranked as good client. Settled by wire transfers |
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operation limit |
|
SUPPLIER FROM |
Many years ago |
|
MONTHLY AVERAGE |
Ps$550,000,000.00 Pesos |
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DEADLINES |
Terms at 60 days |
|
PRODUCTS SOLD |
Plastic-pharmaceutical containers |
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COMMENTS.- |
Ranked as good client Settled by wire transfers |
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CREDIT FILES |
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|
Other consulted suppliers did not provide information about their
clients as per confidentiality policies. |
|
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% CASH SALES/PAYMENT METHOD |
1% |
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% CREDIT SALES/TERMS |
99%(Invoices at 30, 60, 120,150 days) |
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RELATED
COMPANIES |
||
|
NAME |
TAX ID. NUMBER |
COUNTRY |
|
GENFAR CASA DE REPRESENTACIONES SA |
|
|
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GENFAR PERU SA |
20153275450 |
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GENFAR VENEZUELA E.M.A. S.A. |
J-29367227-9 |
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LABORATORIOS GENERICOS FARMACEUTICOS ECUATORIANOS SA |
0991458417001 |
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SANOFI-AVENTIS |
20100096855 |
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COMMENTS ON LEGAL ASPECTS .- |
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|
On 17/12/1997, by Public Deed No. 0007839, subject is incorporated
before the 6th Notary Office of Bogota. Then, on 19/12/1997, it wasregistered
in the Commercial Registry under Commercial Registration No. 00011974, Book
IX On 03/01/2008, by Public Deed No. 0000004 and before the 73th Notary
Office of Bogota, subject (surviving company) merged with Laboratorios
Genericos Farmaceuticos SA (Laboratorios Genfar SA), been registered that in
Commercial Registration No. 00023751, Book IX on 23/01/2008. On 17/12/1997,
subject is registered in the Superintendence of Companies of Bogota under
Commercial Registration No. 00049488, File No. 28779 On 19/12/1997, it was
registered in the Chamber of Commerce of Bogota with Commercial Registration
No. 49488 As a company which executes contracts with public entities, since
06/10/2009, subject is registered in the Chamber of Commerce of Bogota under
Proposer Registration No. 1696. Subject has an authorized capital of Ps$
12,001,000,000.00 Pesos |
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FINANCIAL
INFORMATION |
|
CONTENT.- |
|
During this investigation, we interviewed Mr. Giovanni Castillo
(Accountant) who refused to provide any information on the subject as per confidentiality
policies. He declared that no information would be provided unless the
enquirer's name is disclosed. Therefore, this report has been also elaborated
with the information provided by outside sources. And in accordance with such
information, we herein include subject's General Balance Sheets as of
31/12/2013 (12 months) both expressed in Pesos; which figures read as
follows: |
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GENERAL BALANCE
SHEET |
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Balance Date |
31/12/2013 |
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Currency |
Peso |
|
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Exchange Rate |
1,917.40 |
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.Current Total |
166,929,250,000.00 |
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.Net Fixed |
153,137,523,000.00 |
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.Total Assets |
320,066,773,000.00 |
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.Total Current Liabilities |
180,631,642,000.00 |
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.Long Term Accounts |
9,837,298,000.00 |
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Total Liabilities |
190,468,940,000.00 |
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|
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Total Equity |
129,597,833,000.00 |
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Total Liabilities and Equity |
320,066,773,000.00 |
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PROFIT AND LOSS
ACCOUNT |
|||
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Balance Date |
31/12/2013 |
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Currency |
Peso |
|
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Exchange Rate |
1,917.40 |
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Net Sales |
281,291,079,000.00 |
|
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Net Income(Net Loss) |
9,888,900,000.00 |
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RATIOS FINANCIAL |
|||
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PERIOD |
2,013.00 |
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.NET WORKING CAPITAL |
-13,702,392,000.00 |
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.LIQUIDITY RATIO |
0.92 |
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.CONTENTS OF THE ACID TEST |
0.00 |
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.INDEBTEDNESS |
1.68 |
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.LIABILITIES, CAPITAL |
0.00 |
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.TOTAL ASSET TURNOVER |
0.88 |
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.RETURN ON EQUITY |
0.00 |
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.NET RETURN ON SALES |
0.00 |
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FINANCIAL COMMENTS.- |
|||
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Subject is an industrial company incorporated in 1997, which registers
no detrimentals regarding its commercial operations. 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 |
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INSURANCE.- |
|||
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Subject holds an insurance policy against all risk with SEGUROS
COLPATRIA SA through its broker CORRECOL SA CORREDORES COLOMBIANOS DE SEGUROS.
Neither coverage amount nor maturity date was disclosed. |
|||
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RATE OF EXCHANGE |
US$1.00 = Ps$1917.40, as of report date |
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OPERATIONS |
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SECTOR |
1.-INDUSTRY |
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ACTIVITY |
PHARMACEUTICAL PRODUCTS |
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ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION,
PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
2423-Manufacture of Pharmaceutical, Botanical Products and Medicinal
Substances |
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MAIN ACTIVITY |
Subject is engaged in the manufacture and trade of pharmaceutical
products for human and veterinary use. |
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|
75% (Domestic market) |
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% FOREIGN SALES |
25% |
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% LOCAL PURCHASING |
35% |
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% FOREIGN PURCHASING |
65% |
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N. OF EMPLOYEES |
1051 (on average) |
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LOCATION |
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MAIN OFFICES, TAX DOMICILE and PLANT: Located at the address shown in
caption, in an industrial zone of the city with easy access routes. Premise kept
in good repair. BUSINESS PREMISES and PLANT: - Parque Industrial Caucadesa
Km.43 Via Panamericana Santander de Chilichao - |
|
COMMENTS OF
OPERATIONS.- |
|
The company Sanofi (EURONEXT: SAN and NYSE: SNY) announced the
authorization of the Superintendency of Industry and Commerce of Colombia SIC
to formalize the acquisition of the 100% of the shares of the subject, dated
March 22, 2013. Subject imports from |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
|
PROENFAR SAS |
Mauricio Camargo |
(57-1)364.8686 / 405.0606 |
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ALIANZA GRAFICA SA |
|
(57-2)489.8920 |
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C.I. FARMACAPSULAS SA |
Jovanna Ojeda |
(57-5)330.4100 |
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ALUPACK LTDA. |
|
(57-1)368.8000 |
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FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
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CHEMIBERICA SA |
|
34 93 330 62 12 |
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BASELUX SA |
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DSM NUTRITIONAL PRODUCTS |
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32 (0)16 806 211 |
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ALEMBIC LIMITED |
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91 - 265 - 228 0550 |
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FERSINSA GB, S.A. DE C.V. |
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(52-844) 438.1200 |
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GRANULES INDIA LTD |
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BANKERS /
REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCOLOMBIA SA |
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BANCO COLPATRIA RED MULTIBANCA COLPATRIA SA |
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BANCO OCCIDENTE SA |
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BANCO SANTANDER COLOMBIA SA |
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BANCO POPULAR SA |
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BANCO SUDAMERIS |
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BANK COMENTS |
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Consulted banks did not provide any information on their clients as
per bank secrecy. |
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CREDIT OPINION |
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COMMENT: Subject is a well renowned company at local level, it holds
good trade relations. No detrimental were found. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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 |
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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.