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Report Date : |
06.12.2014 |
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Tel. No.: |
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Fax No.: |
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E-Mail : |
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IDENTIFICATION DETAILS
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Name : |
UNIVERSAL MARKETING ASSOCIATES SA |
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Formerly Known As : |
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Registered Office : |
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Country : |
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Financials (as on) : |
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Date of Incorporation : |
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Com. Reg. No.: |
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Legal Form : |
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Line of Business : |
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No of Employees : |
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RATING & COMMENTS
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MIRA’s Rating : |
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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 |
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Maximum Credit Limit : |
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Status : |
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Payment Behaviour : |
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Litigation : |
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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
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
ECONOMIC OVERVIEW
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Source
: CIA |
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IDENTIFICATION |
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COMPANY NAME |
UNIVERSAL MARKETING ASSOCIATES SA |
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TRADE NAME |
UNIMARK SA |
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TAX ID TYPE |
RUC |
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TAX ID NUMBER |
J0310000121249 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Villa Fontana Semaforos, Club Terraza 150 mts. Oeste, Pista Jean Paul
Genie |
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CITY/PROVINCE/STATE |
Managua |
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PHONE NUMBER(S) |
(505) 2278.8787 / 2278.8207 |
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FAX NUMBER |
(505) 2278.0322 |
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E-MAIL |
cont@unimarksa.com |
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WEB SITE |
www.unimarksa.com / www.unimarksa.net |
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CR-RATING |
CR. B: LOW RISK |
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PAYMENT HISTORY |
EP. A: PAYMENTS USUALLY PROMPT |
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COMMENTS OF IDENTIFICATION.- |
Other e-mail addresses: - asaenz@unimarksa.com - info@unimarksa.com
This report was ordered as: UNIMARK SA, which is the trade name of the
subject. Please be advised that the correct company name is as mention in the
heading. Also, it was requested with address: Villa Fonata Club Terraza 150
Vrs. Oeste Managua Nicaragua. Please note that the correct and complete
address is shown above. |
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LEGAL ASPECTS |
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LEGAL STATUS |
Stock Company |
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INCORPORATION DATE |
20/09/2006 |
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REGISTERED IN |
Managua |
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DURATION |
Unlimited |
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NOTARY OFFICE |
Leonardo Antonio Yescas Mayorga (Notary) |
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REGISTRATION |
Deed 72 |
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BACKGROUND (HISTORY).- |
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On 20/09/2006, subject was incorporated in order to be engaged in
providing research services regarding suppliers and the pharmaceutical market
in Nicaragua. In December 2007, subject changed its purpose, to be engaged in
trading pharmaceutical products. |
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COMMENTS ON LEGAL ASPECTS .- |
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The subject was incorporated on 20/09/2006. By Decree issued by the
Income General Bureau (DGI) dated 01/10/2010; the 10 digit RUC was replaced
by a 14 digit RUC with the letter J ahead. Thus, subject's previous taxpayer
registration number (200906-9480) was changes to the current one shown in
caption. |
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BOARD OF DIRECTORS-EXECUTIVES-SHAREHOLDERS |
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NAME |
JOB TITLE |
% STAKE |
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SAENZ GALO, ALVARO ANTONIO |
President/General Manager |
99% |
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SEQUEIRA ROBLETO, JULIA |
Vice President |
1% |
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SAENZ MARENCO, ALICIA |
Director |
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OTERO, WILLIAM |
Administrator |
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AGUILAR, JAVIER |
General Accountant |
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WHO IS WHO? |
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SAENZ GALO, ALVARO ANTONIO |
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Nicaraguan, Lawyer, . |
No negative information given.
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INITIAL CAPITAL |
C/.100,000.00 Cordobas |
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PAID-UP CAPITAL |
C/.100,000.00 Cordobas |
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LAST CAPITAL INCREASE |
No capital increase |
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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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CREDIT FACILITIES |
No current operations limit |
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SUPPLIER FROM |
Several years ago |
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MONTHLY AVERAGE |
US$5,000.00 Dollars |
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DEADLINES |
at 30 days |
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PRODUCTS SOLD |
Medicines |
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RATING |
PROMPT |
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COMMENTS.- |
Settles with checks |
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TYPE OF SUPPLIER |
INTERNATIONAL |
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CREDIT FACILITIES |
No current operations limit |
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SUPPLIER FROM |
Several years ago |
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MONTHLY AVERAGE |
US$10,000.00 Dollars |
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DEADLINES |
at 60 days |
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PRODUCTS SOLD |
Medicines |
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RATING |
PROMPT |
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TYPE OF SUPPLIER |
INTERNATIONAL |
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CREDIT FACILITIES |
No current operations limit |
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SUPPLIER FROM |
2008 |
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DEADLINES |
at 60 days |
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PRODUCTS SOLD |
Medicines |
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RATING |
PROMPT |
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% CASH SALES/PAYMENT METHOD |
20% |
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% CREDIT SALES/TERMS |
80% (Terms at 15, 30 days) |
Na
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FINANCIAL INFORMATION |
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CONTENT.- |
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Since subject's main executives refused to provide any information on
the subject; this report was entirely elaborated with the information
provided by outside sources. However, they did not provide us with subject's
financial data, either. Subject is a commercial company incorporated in 2006,
which registers no detrimentals regarding its commercial operations. 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 |
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DETAILS OF FIXED ASSETS.- |
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Main assets include: - Computer equipment - Furniture and office
equipment |
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INSURANCE.- |
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Consulted possible insurance companies did not report subject as
client. |
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RATE OF EXCHANGE |
US$1.00 = C$26.49, as of report date |
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OPERATIONS |
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SECTOR |
3.-TRADE ( WHOLESALE AND RETAIL) |
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ACTIVITY |
MEDICAL PRODUCTS |
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ISIC CATEGORY |
G-WHOLESALE AND/OR RETAIL SALE |
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MAIN ACTIVITY |
Subject is engaged in the importation, commercialization, and
representation of medicines regarding gastrointestinal system illness,
hormones, hormonal antagonists, surgical products, ER medical service
products, inmunomodulators, and equipment and supplies in general. Third
parties' brands: "HETERO", "SINOCHEM", "NAPROD
LIFE", "REYOUNG", "INTERMED", "VARDHMAN",
"GLAND", "MARCK", among others. |
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TERRITORY OF SALES |
100% (Domestic market) |
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% LOCAL PURCHASING |
10% |
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% FOREIGN PURCHASING |
90% |
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N. OF EMPLOYEES |
60 (approximately) |
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LOCATION |
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ADMINISTRATIVE OFFICES and BUSINESS PREMISES: Located at captioned
address in a business zone of easy access. Two story premises which consists
of 1750 sq.m. with a built area of 578 sq.m. WAREHOUSES: Located in a
business zone of the city with an area of 1,200 sq.m with a built area of 520
sq.m. Rented premises for an amount of US$1,200.00 Dollars monthly. Subject
has no branches. |
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COMMENTS OF OPERATIONS.- |
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UNIVERSAL MARKETING ASSOCIATES SA (UNIMARK SA), distributor of
medicines tied to orteguism, will increase its accounts with funds of the
Nicaraguan Institute of Social security (INSS), after a millionaire contract
whose total is still known. The executive president of the INSS, retired captain
of the Army Roberto Lopez Gomez, decided to award to Unimark S.A. large part
of the bid for machinery acquisition and equipment for the processing plant
of LABORATORIS RAMOS, according to a resolution published in La Gaceta,
official newspaper. Main clients include Instituto Nicaraguense de Seguridad
Social (Nicaraguan Institute of Social Security) - INSS. The subject imports
from India, China, Cuba and Central America. Its purchases are paid 20% in
cash and 80% on credit against drafts at 15, 30 days. It has 1,938 clients. A
63% of its main clients are private companies and a 37% are public companies
including: pharmacies, veterinaries, distributors of veterinary and
agrochemical products, labs, National Institute of Social Security, Ministry
of Health, clinics, etc. Subject has 500 registered products from its
representatives. The subject is main representative of the following brands:
- HETERO DRUGS LIMITED (India) - NAPROD LIFE SCIENCES (India) - GLAND PHARMA
LIMITED (India) - SINOCHEM JIANGSU (China) - MARK BIOSCIENCES (India) -
LABORATORIOS LAMFER (Guatemala) - PAM INDIA (India). - SELECT PHARMA (UK) -
MIDAS CARE (India) - BAIJINGYU PHARMA (China) - LAMFER (Guatemala) - KEXING
BIOLOGICS (China) It has 60 competitors, some of them are: - DISTRIBUIDORA CESAR
GUERRERO SA (DICEGSA) - ESCALANTE SANCHEZ SA (ESCASAN) - CORPORACION CEFA DE
NICARAGUA SA (CEFA) - CORPORACION FARMACEUTICA DE CENTRO AMERICA SA (COFARCA)
- LABORATORIO VIJOSA SA DE CV (EL SALVADOR) Subject imports and distributes
the following products: - finished pharmaceutical products - medicines -
Pharmaceutical raw material - machinery and equipment for the pharmaceutical
industry - hospital equipments na furniture - surgery instrumentation -
dental and orthopedic materials and supplies among others Work Shift: From
Monday to Friday from 8.00h to 18.00h and Saturday from 8.00h to 12.00h |
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LOCAL SUPPLIERS |
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Name |
Contact |
Telephone |
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LABORATORIO RAMOS SA |
David Canales |
(505) 2249.9191 |
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FOREIGN SUPPLIERS |
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Name |
Contact |
Telephone/fax |
Country |
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SINOCHEM JIANGSU |
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CHINA |
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HETERO DRUGS |
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INDIA |
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NAPROD LIFE SCIENCES, PVT LTD. |
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INDIA |
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ACG PAM PAC MACHINES PVT. LTD. |
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INDIA |
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CHINA NATIONAL PHARMACEUTICAL FOREIGN TRADE CO. |
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CHINA |
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INDUSTRIA CENTROAMERICANA DE QUIMICOS FARMACEUTICOS SA |
Osberto Rosales |
(502) 2420-9090 |
GUATEMALA |
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SINBIOTIK SA DE CV |
Carlos Gutierrez |
(52-55) 5397-7251 |
MEXICO |
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PUTIAN SHUSHENG FOOTWEAR AND APPAREL CO. LTD. |
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CHINA |
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SELECT PHARMA LABORATORIES LTD. |
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UNITED KINGDOM |
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NANJING BAIJINGYU PHARMACEUTICAL CO. LTD. |
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CHINA |
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SHANDONG KEXING BIOPRODUCTS CO. LTD. |
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CHINA |
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HEILONGJIANG PROVINCE FULEKANG PHARMACEUTICAL CO LTD |
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CHINA |
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BANKERS / REFERENCE |
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Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
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BANCO DE AMERICA CENTRAL S.A. - (BAC) |
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NICARAGUA |
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BANCO DE LA PRODUCCION SA |
10010016559558 |
Liliam Figueroa |
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NICARAGUA |
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BANK COMENTS |
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The above banks do not furnish information about clients by preserving
confidentiality of bank-client information. |
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CENTRAL RISK |
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Subject registers no protested documents compromising the performance
of its operations. |
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CREDIT OPINION |
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COMMENT: Subject is a commercial company with 8 years in business
which operations seem to have been conducted normally. Hence, it is
considered suitable for a credit of US$25,000.00 Dollars. Request for secured
terms, beyond that limit. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.85 |
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1 |
Rs.96.70 |
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Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
TPT |
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 |
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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.