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Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
FARMACEUTICOS SA |
|
|
|
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Registered Office : |
Hotel Seminole 1/2 cuadra abajo, modulos Lomas de Guadalupe, |
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Country : |
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|
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Date of Incorporation : |
2008 |
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Legal Form : |
Stock Company |
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|
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Line of Business : |
Importation, trade, distribution of pharmaceutical products for human
consumption. |
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|
|
|
No. of Employees |
7 approx. |
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 |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Nicaragua |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NICARAGUA - ECONOMIC
OVERVIEW
Nicaragua, the poorest country in Central America and the second
poorest in the Western Hemisphere, has widespread underemployment and poverty.
The Dominican Republic-Central America-United States Free Trade Agreement
(CAFTA-DR) has been in effect since April 2006 and has expanded export
opportunities for many agricultural and manufactured goods. Textiles and
agriculture combined account for nearly 50% of Nicaragua's exports. In 2013,
the government granted a 100-year concession to a newly formed Chinese-run
company to finance and build an inter-oceanic canal and related projects, at an
estimated cost of $40 billion. The economy grew 4.6% in 2013, despite a 33%
decline in coffee export revenues due to a coffee rust fungus.
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
FARMACEUTICOS SA |
|
TRADE NAME |
FARMA SA |
|
TAX ID TYPE |
RUC |
|
TAX ID NUMBER |
J0310000007128 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Hotel Seminole 1/2 cuadra abajo, modulos Lomas de Guadalupe |
|
CITY/PROVINCE/STATE |
Managua. |
|
PHONE NUMBER(S) |
(505) 2278.8476 |
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FAX NUMBER |
(505) 2278.8476 |
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E-MAIL |
jcr@farmasa.net |
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PAYMENT HISTORY |
WITHOUT CREDIT EXPERIENCE |
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COMMENTS OF IDENTIFICATION.- |
No website was found. |
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LEGAL ASPECTS |
|
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
2008 |
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REGISTERED IN |
Managua |
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DURATION |
Unlimited |
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COMMENTS ON LEGAL ASPECTS .- |
|
|
It was not possible to obtain directly from the subject the respective
registry information. The foundation date stated above is just a reference,
since this information was not provided by subject. |
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BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
RIESTRA, JUAN CARLO |
General Manager |
|
No negative information found.
|
LISTED AT STOCK EXCHANGE |
NO |
|
FOREIGN SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
INTERMED |
|
|
INDIA |
|
BANK COMENTS |
|||
|
Consulted banks do not provide any information regarding clients on
the grounds of confidentiality. |
|||
N/a
|
FINANCIAL INFORMATION |
|
CONTENT.- |
|
We interviewed Mr. Juan Carlo Riestra (General Manager) who declined
to collaborate with our investigation on the grounds of confidentiality and
due to the lack of supplier's name. COUNTRY CONTEXT - NICARAGUA : The below country
comments were obtained from a highly regarded public source that issues
economic comments on all of world's countries Taxes: - Nicaraguan Income Tax
30% on the net profit-business. - Alphabetic currency code for every country
by the International Organization for Standardization (ISO) 4217: Cordoba
(NIO) Main economic indicators: - External debt US$8.16 billion (31 December
2013 est.) - International reserves: US $1.89 billion (31 December 2013 est.)
- Inflation rate : 7.4% (2013 est.) - GDP growth rate: 4.2% (2013 est.) -
Annual GDP per capita: US$4,500 (2013 est.) GDP - composition, by sector of
origin: agriculture: 17.1% industry: 25.5% services: 57.5% (2013 est.) -
Labour force of 3.039 million people (2013 est.) divided by: agriculture: 28%
industry: 19% services: 53% Unemployment rate: 7.2% (2013 est.) Productive
Sector: Agriculture - products: coffee, bananas, sugarcane, rice, corn,
tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products;
shrimp, lobsters, cotton Industries: food processing, chemicals, machinery
and metal products, knit and woven apparel, petroleum refining and
distribution, beverages, footwear, wood, electric wire harness manufacturing,
mining Foreign Trade: Exports: US$4.278 billion (2013 est.) country comparison
to the world: 116 US$4.157 billion (2012 est.) Exports - commodities: coffee,
beef, gold, sugar, peanuts, shrimp and lobster, tobacco, cigars, automobile
wiring harnesses, textiles, apparel, cotton Exports - partners: US 55.6%,
Canada 8.6%, Venezuela 7.3%, El Salvador 4.2% Imports: US$6.608 billion (2013
est.) country comparison to the world: 117 US$6.45 billion (2012 est.)
Imports - commodities: consumer goods, machinery and equipment, raw
materials, petroleum products Imports - partners: US 19%, Venezuela 14.8%,
Mexico 12.2%, Costa Rica 8.5%, Guatemala 8%, China 7.9%, El Salvador 4.7%
Country risks: Commercial country risk: HIGH Political country risk : MEDIUM |
|
INSURANCE.- |
|
Not found. |
|
CREDIT FILES |
|
Possible local suppliers do not furnish information per consider
confidential. |
|
RATE OF EXCHANGE |
US$1.00 = C$26.15, as of report date |
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OPERATIONS |
|
|
SECTOR |
2.-TRADE (WHOLESALE) |
|
ACTIVITY |
PHARMACEUTICAL PRODUCTS |
|
ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
|
MAIN ACTIVITY |
Importation, trade, distribution of pharmaceutical products for human
consumption. |
|
% CASH SALES/PAYMENT METHOD |
40% |
|
% CREDIT SALES/TERMS |
60% (terms at 30 days) |
|
TERRITORY OF SALES |
100% national |
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N. OF EMPLOYEES |
7 approx. |
|
LOCATION |
|
ADMINISTRATIVE OFFICE, WAREHOUSE: Located at captioned address in a
commercial zone of the city of easy access. |
|
COMMENTS OF OPERATIONS.- |
|
It imports from India. |
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.48 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.