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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIOS DE COSMETICA Y FARMOQUIMICA S.A |
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Registered Office : |
Victor Eduardo 2293, Miraflores Bajo, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
20.09.1973 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Subject is engaged in manufacture, import, representation and trading of
pharmaceutical products for human use, medicinal chemicals, and botanical
products. |
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No. of Employees : |
314 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Bolivia |
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 |
BOLIVIA - ECONOMIC OVERVIEW
Bolivia is one of the poorest and least developed countries in Latin America. Following a disastrous economic crisis during the early 1980s, reforms spurred private investment, stimulated economic growth, and cut poverty rates in the 1990s. The period 2003-05 was characterized by political instability, racial tensions, and violent protests against plans - subsequently abandoned - to export Bolivia's newly discovered natural gas reserves to large Northern Hemisphere markets. In 2005, the government passed a controversial hydrocarbons law that imposed significantly higher royalties and required foreign firms then operating under risk-sharing contracts to surrender all production to the state energy company in exchange for a predetermined service fee. The global recession slowed growth, but Bolivia recorded the highest growth rate in South America during 2009. During 2010-12 high world commodity prices sustained rapid growth and large trade surpluses. However, a lack of foreign investment in the key sectors of mining and hydrocarbons, along with growing conflict among social groups pose challenges for the Bolivian economy.
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Source
: CIA |
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CORRECT COMPANY NAME |
LABORATORIOS DE COSMETICA Y FARMOQUIMICA S.A |
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TRADE NAME |
LABORATORIOS COFAR |
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TAXPAYER REGISTRATION |
NIT 1020603028 |
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MAIN ADDRESS |
Victor Eduardo 2293, Miraflores Bajo |
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DEPT/PROV/REGION/STATE |
La Paz |
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COUNTRY |
BOLIVIA |
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TELEPHONE |
(5912) 2220352 |
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CORPORATE E-MAIL |
rmarquez@cofar.com.bo |
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WEB |
www.cofar.com.bo |
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Date of foundation |
1973 |
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Capital stock |
Bs.3,602,200.= Bolivianos |
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Shareholders' equity |
54,755,993.00 Bolivianos (31MAR2012) |
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Annual revenues |
US$ 12,247,755.79 Bolivianos (31MAR2012) |
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Profits (loss) |
16,020,138.00 Bolivianos (31MAR2012) |
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permanent employees |
314 |
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Chief Executive |
GRANIER CARDONA, ALEX JULIO RAFAEL |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
Usually to terms / good |
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Number of times that this company was required: 6 |
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NOTHING AGAINST COMPANY |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
20SEP1973 |
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PLACE OF REGISTRY |
La Paz |
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CURRENT PAID-IN CAPITAL |
Bs.3,602,200.= Bolivianos |
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SHAREHOLDERS EQUITY |
54,755,993.00 Bolivianos (31MAR2012) |
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CURRENT EXCHANGE RATE (US$) |
Bs.6.87 per US$1.= Dollar |
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MEMBERSHIP |
CAMARA DE LA INDUSTRIA FARMACEUTICA BOLIVIANA |
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COMMENTS |
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Subject's Legal Representation shall be perfomed by the General
Manager. |
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HANDAL KATMNI, LEONARDO |
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TITLE |
President |
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NATIONALITY |
Bolivian |
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D.O.B. |
1934 |
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CIVIL STATUS |
Married to Carmen Jauregui |
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DOMICILE |
C B No 3 Z La Florida, La Paz |
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TELEPHONE |
2775137 |
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PROFESSION |
Business Administrator |
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BACKGROUND INFORMATION |
He was born in Santa Cruz, but he has lived in La Paz since he was a
child. He graduated from the school San Calixto and studied in the University
of La Plata (Buenos Aires, Argentina), from where he graduated as business
administrator. |
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ASSOCIATED AS PER OUR DATABASE TO |
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GRANIER CARDONA, ALEX JULIO RAFAEL |
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TITLE |
General Manager |
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CIVIL STATUS |
Married |
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PROFESSION |
Master in Business Administration |
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BACKGROUND INFORMATION |
Master's degree in Business Administration at Harvard Business School
(1996 - 1997) Bacherlor's degree, Industrial Engineer from Universidad Mayor de San
Andrés (1983 - 1988) He has a Master's degree in Business Administration from INCAE, campus
Francisco de Sola, Managua, Nicaragua (1996-1997). |
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HANDAL JAUREGUI, LEONARDO |
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TITLE |
Shareholder |
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NATIONALITY |
Bolivian |
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CIVIL STATUS |
Married to Carolina Canelas Arze |
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PROFESSION |
Business Administrator |
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FATHER'S NAME |
Laonardo Handal |
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MOTHER'S NAME |
Carmen Jauregui |
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ASSOCIATED AS PER OUR DATABASE TO |
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Subject was incorporated on 20/09/1973. To date, it is one of most prestigious
industrial pharmaceutical companies in Bolivia. Its Industrial Plant is
located in La Paz, and currently covers the manufacture and sale of
medicines.It has three divisions: Industira Divisionl, Commercial Division,
and Administrative and Financial Division. The production of LABORATORIOS COFAR S.A. is sold through its own
agencies in all the capital cities of departments and some intermediate
cities, currently reaching with all the range of products to drugstores,
hospitals, clinics, institutions and other clients from the four cardinal
points of the country. Subject's current growth is based on the consolidation
of the established products and on aggresive policies introducing new
molecules in the market and an efficient process administration and
production systems; with a permanent selection, evaluation and training of
its human resources. |
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SIC Classification 2 8 - CHEMICALS, PHARMACEUTICALS INDUSTRY AND ALLIED PRODUCTS.
(Manuf.Pigments, Resins, Plastics, Serums, Perfums, Paints, Fertilizers, Explosives.
Medicines.) |
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Main activity |
Subject is engaged in manufacture, import, representation and trading
of pharmaceutical products for human use, medicinal chemicals, and botanical
products. Sold brands: COFAR - CANESZOL - CIPROFLOXACINA - CLOBETASOL - COFADERM
- COFALGINA - COFAMIN - DIGESTOFAR -
DIUFLUX - KETUMDOL - XELPRIM, among others. It is an exclusive representative of BRESKOT PHARMA and VIDILINE. |
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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 |
Germany, Chile, Switzerland |
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Export |
Yes |
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COUNTRY |
Honduras, Guatemala |
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% CASH SALES / METHOD |
70% |
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% Credit SALES / Terms |
30% (30-day terms) |
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% Ventas exterior (Paises) |
3% |
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% DOMESTIC PURCHASES |
30% |
% FOREIGN PURCHASES |
70% |
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SELLING TerritorY |
Domestic and international market |
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EMPLOYEES |
314 |
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Comments |
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The production of LABORATORIOS COFAR S.A. is sold through its own
agencies in all the capital cities of departments and some intermediate cities,
currently reaching with all the range of products to drugstores, hospitals,
clinics, institutions and other clients from the four cardinal points of the
country. |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Interviewee(s) |
Ramiro Márquez |
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Position(s) |
General Accountant |
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Information provided |
To the date of this report, he did not answer our request; threrefore,
this report was developed with information that was collected from
third-party sources. |
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FINANCIAL SITUATION |
GOOD Based on the last Financial Statement, this company's Financial
Situation is deemed to be Satisfactory because its liquidity ratio is appropriate
and above average. Its working capital is positive, which allows the company
to pay appropriately. Its debt-to-equity ratio is acceptable. Economic
results have been satisfactory. It should be mentioned that in consulted sources it was not found any
adverse. |
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INSURANCE |
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(Confidential Information)
TRADE REFERENCES
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Note : Other suppliers did not provide information or could not be
consulted |
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Supplier |
Country |
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MATRIPLAST S.A. |
BOLIVIA |
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CAMPO IRIS IMPRENTA |
BOLIVIA |
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SELECTCHEMIE AG. |
SWITZERLAND |
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FAVIMA LTDA. |
CHILE |
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SANDER & CIA LTDA-ME |
BRAZIL |
Comments :
BCO NACIONAL DE BOLIVIA BCO DE CREDITO DE BOLIVIA
Explanation about commercial reputation
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.32 |
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1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
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Report Prepared
by : |
NNA |
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.