|
Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
FARMACAPS SA |
|
|
|
|
Registered Office : |
Km. 29.5 Carretera a Antigua Guatemala - San Lucas Sacatepequez, C.P. 03008, Sacatepequez |
|
|
|
|
Country : |
Guatemala |
|
|
|
|
Date of Incorporation : |
05.02.1986 |
|
|
|
|
Legal Form : |
Stock Company |
|
|
|
|
Line of Business : |
Production of soft gelatin capsules for packing pharmaceutical
products. |
|
|
|
|
No. of Employees : |
120 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
GBP. 200,000.00 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Guatemala |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
GUATEMALA - ECONOMIC OVERVIEW
Guatemala is the most populous country in Central America
with a GDP per capita roughly one-half that of the average for Latin America
and the Caribbean. The agricultural sector accounts for 13.5% of GDP and 30% of
the labor force; key agricultural exports include coffee, sugar, bananas, and
vegetables. The 1996 peace accords, which ended 36 years of civil war, removed
a major obstacle to foreign investment, and since then Guatemala has pursued
important reforms and macroeconomic stabilization. The Dominican
Republic-Central America Free Trade Agreement (CAFTA-DR) entered into force in
July 2006, spurring increased investment and diversification of exports, with
the largest increases in ethanol and non-traditional agricultural exports.
While CAFTA-DR has helped improve the investment climate, concerns over
security, the lack of skilled workers, and poor infrastructure continue to
hamper foreign direct investment. The distribution of income remains highly
unequal with the richest 20% of the population accounting for more than 51% of
Guatemala's overall consumption. More than half of the population is below the
national poverty line, and 13% of the population lives in extreme poverty.
Poverty among indigenous groups, which make up more than 40% of the population,
averages 73%, with 22% of the indigenous population living in extreme poverty.
Nearly one-half of Guatemala's children under age five are chronically
malnourished, one of the highest malnutrition rates in the world. Guatemala is
the top remittance recipient in Central America as a result of Guatemala's
large expatriate community in the United States. These inflows are a primary
source of foreign income, equivalent to one-half of the country's exports or
one-tenth of its GDP.
|
Source
: CIA |
|
IDENTIFICATION |
|
|
COMPANY NAME |
FARMACAPS SA |
|
TRADE NAME |
FARMACAPS |
|
TAX ID TYPE |
NIT |
|
TAX ID NUMBER |
481252-2 |
|
CURRENT STATUS |
Active |
|
MAIN ADDRESS |
Km. 29.5 Carretera a Antigua Guatemala - San Lucas Sacatepequez |
|
CITY/PROVINCE/STATE |
C.P. 03008, Sacatepequez |
|
PHONE NUMBER (S) |
(502) 7830.3071/7830.3072/7830.4688/7830.4689/7830.4690 |
|
FAX NUMBER |
(502) 7830.4688/7830.4689 |
|
E-MAIL |
jorge@farmacaps.com |
|
E-MAIL |
ing.j.arana@gmail.com |
|
PAYMENT HISTORY |
Unknown |
|
COMMENTS OF IDENTIFICATION.- |
Other e-mail addresses: - ing.jorge-arana@farmacaps.com -
eyc@farmacaps.com The subject has no website. This report was ordered as: FARMACAPSULAS
SA, which is incorrect. Please note that the correct company name is
mentioned in the heading. The supplied address: KM 29.5 Carret, Antigua san
Lucas Sacatepequez 03008, Guatemala, which is incorrect. Please note that the
correct address is as shown in caption. |
|
LEGAL ASPECTS |
|
|
LEGAL STATUS |
Stock Company |
|
INCORPORATION DATE |
05/02/1986 |
|
REGISTERED IN |
Guatemala |
|
DURATION |
Unlimited |
|
NOTARY OFFICE |
Gilarturo Gonzalez Solis |
|
REGISTRATION |
No.13213, Folio 79, Book 69/File 8752-86 |
|
COMMENTS ON LEGAL ASPECTS. - |
|
|
On 05/02/1986, the subject is constituted by Deed No.13213. On
23/07/1986, the subject is registered in the Tax Administration
Superintendency (SAT). On 05/11/1986, this is registered in the Mercantile
Registration of Guatemala. Its accounting is managed externally by the
company AGRE SA. |
|
Current Credit
Limit: GBP. 200,000.00.
|
CREDIT OPINION |
|
Industrial company with 28 years in market, whose operations are
carried out normally. Besides, it has good commercial relations with its
suppliers. Therefore, we estimate it is suitable for a maximum credit dealing
of GBP. 200,000.00. |
|
BOARD OF
DIRECTORS-EXECUTIVES-SHAREHOLDERS |
||
|
NAME |
JOB TITLE |
% STAKE |
|
ARANA COLON, JORGE MARIO |
Chairman/General Manager |
|
|
SAGASTUME ALVARADO, LISETTE |
Director |
|
|
MARTINEZ, LIGIA |
Production Manager |
|
|
COLON SOLIS, ELSA YOLANDA |
Administration Manager |
|
|
CHIAN RODRIGUEZ, CARLOS |
External Accountant |
|
No Negative Information Found.
|
INITIAL CAPITAL |
Q.5, 000.00 Quetzales |
|
PAID-UP CAPITAL |
Q.3, 000,000.00 Quetzales (3,000 shares) |
|
LAST CAPITAL INCREASE |
April 1998 (latest registered) |
|
LISTED AT STOCK EXCHANGE |
NO |
|
SHARE VALUE |
Q.1, 000.00 Quetzales |
|
% CASH SALES/PAYMENT METHOD |
90% |
|
% CREDIT SALES/TERMS |
10% (Terms/30, 60 days) |
|
TERRITORY OF SALES |
40% (Domestic market) |
|
% FOREIGN SALES |
60% |
|
% LOCAL PURCHASING |
30% |
|
% FOREIGN PURCHASING |
70% |
|
PAYMENTS |
|
|
TRADE REFERENCES |
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
15 years ago |
|
MONTHLY AVERAGE |
Q.200, 000.00 |
|
DEADLINES |
Invoices/30 days |
|
PRODUCTS SOLD |
Raw material |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with checks. Regarded as good client. |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
US$20,000.00 |
|
SUPPLIER FROM |
5 years ago |
|
MONTHLY AVERAGE |
US$8,000.00 |
|
DEADLINES |
Terms/40 days |
|
PRODUCTS SOLD |
Raw material |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with checks. Regarded as good client. |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
14 years ago |
|
MONTHLY AVERAGE |
Q.95, 000.00 |
|
DEADLINES |
Invoices/30-45 days |
|
PRODUCTS SOLD |
Pharmaceutical raw material |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with checks. Regarded as good client. |
|
|
|
|
TYPE OF SUPPLIER |
NATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
2004 |
|
MONTHLY AVERAGE |
Q. 270,000.00 |
|
DEADLINES |
Invoices/30 days |
|
PRODUCTS SOLD |
Soja oil |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with checks. Regarded as good client. |
|
|
|
|
TYPE OF SUPPLIER |
INTERNATIONAL |
|
CREDIT FACILITIES |
No current operations limit |
|
SUPPLIER FROM |
1994 |
|
MONTHLY AVERAGE |
US$ 250,000.00 Dollars |
|
DEADLINES |
Invoices/30-60 days |
|
PRODUCTS SOLD |
Raw material |
|
RATING |
PROMPT |
|
COMMENTS.- |
Settles with checks. Regarded as good client. |
N/a
|
FINANCIAL
INFORMATION |
|
CONTENT. - |
|
We interviewed Miss Elsa Colon (Administration Manager) who kindly
supplied commercial information on the subject, except for financial figures per
confidentiality policies. Therefore, this report was complemented with data
from external sources. No financial figures were obtained, though. The
subject is an industrial company with 28 years in the market, whose
operations are estimated to follow a normal trendline. COUNTRY CONTEXT -
GUATEMALA: The below information has been obtained from a highly regarded
public source that issues comments on all of worlds' countries. Taxes: *
Guatemalan income tax: 5% on the net profit-business: * Alphabetic currency
code for every country by the International Organization for Standardization
(ISO) 4217:Quetzal (GTQ). Main economic indicators: * External debt: US$17.67
billion (31 December 2013 est.) * International net reserves: US $7.118
billion (31 December 2013 est.) * Inflation rate: 4.4% (2013 est.) * GDP real
growth rate: 3.3% (2013 est.) * Annual GDP per capita: US$5,300 (2013 est.)
GDP - composition, by sector of origin: agriculture: 13.5% industry: 23.8%
services: 62.7% (2013 est.) * Labour force of 4.465 million people (2013
est.) divided by: agriculture: 38% industry: 14% services: 48% Unemployment
rate: 4.1% (2011 est.) (Last available) Productivity sectors: Agriculture -
products: sugarcane, corn, bananas, coffee, beans, cardamom; cattle, sheep,
pigs, chickens Industries: sugar, textiles and clothing, furniture,
chemicals, petroleum, metals, rubber, tourism Foreign trade: Exports:
US$10.29 billion (2013 est.) country comparison to the world: 93 US$10.11
billion (2012 est.) Exports - commodities: coffee, sugar, petroleum, apparel,
bananas, fruits and vegetables, cardamom Exports - partners: US 40.2%, El
Salvador 11.1%, Honduras 8%, Mexico 5.5%, Nicaragua 4.7%, Costa Rica 4.3%
Imports: US$16.7 billion (2013 est.) country comparison to the world: 83
US$15.84 billion (2012 est.) Imports - commodities: fuels, machinery and
transport equipment, construction materials, grain, fertilizers, electricity,
mineral products, chemical products, plastic materials and products Imports -
partners: US 38%, Mexico 11.3%, China 7.4%, El Salvador 4.6% Country risks:
Commercial Country Risk: MEDIUM Political Country Risk: LOW |
|
DETAILS OF FIXED ASSETS. - |
|
- 3 vehicles - 4 gelatin capsule machines - 1 premises located at
captioned address |
|
INSURANCE. - |
|
It holds an insurance policy covering vehicles with SEGUROS G & T
SA. (Unspecified coverage amount and maturity date). |
|
RATE OF EXCHANGE |
US$1.00 = Q.7.83 |
|
WHO IS WHO? |
|
ARANA COLON, JORGE MARIO |
|
Guatemalan, Born: in 1961, With Address: 23 Av. 6-42 Zona 15 Colonia
VH, Tel. (502) 439.3486/435.6760. |
|
OPERATIONS |
|
|
SECTOR |
1. -INDUSTRY |
|
ACTIVITY |
DIVERSE INPUTS FOR THE INDUSTRY |
|
ISIC CATEGORY |
D-MANUFACTURING INDUSTRIES (ELABORATION, MANUFACTURING, PRODUCTION,
PUBLISHING, CASTING, CONSTRUCTION) |
|
ISIC CLASS |
3699-Manufacture of Diverse Items such as: pens, stampers, tapes,
lighters, brooms, candles, jewelry, artificial flowers, furniture, mattreses |
|
MAIN ACTIVITY |
Production of soft gelatin capsules for packing pharmaceutical
products. |
|
N. OF EMPLOYEES |
120 (approximately) |
|
LOCATION |
|
MAIN OFFICES AND FACTORY: Located at captioned address, premises are owned.
It is a 2-story building on grounds of 3,600 sq.m. Spacious premises located
in industrial zone. It does not locate other domiciles. |
|
COMMENTS OF OPERATIONS.- |
|
It started operations in 1993. The subject imports gelatin and raw
material from USA, Belgium, Argentina and Germany against terms of 30 to 60
days. It exports to Central America and on an occasional basis to South
America, The Caribbean and USA. It sells directly and has some 400 active
clients. Business hours: Monday to Friday from 07:30h to 16:00 h. |
|
LOCAL SUPPLIERS |
||
|
Name |
Contact |
Telephone |
|
CORPORACION QUIRSA SA |
Clayton Alburez |
(502) 6630.5353 |
|
INDUSTRIAS LA POPULAR SA |
Cindy Alvarez |
(502) 2420.0202 |
|
DISTRIBUIDORA DEL CARIBE SA |
Victor Peralta |
(502) 2326.6666 |
|
BRENNTAG GUATEMALA SA |
|
(502) 2423.7777 |
|
OLMECA SA |
Ricardo Contreras |
(502) 2429.5555 |
|
FOREIGN
SUPPLIERS |
|||
|
Name |
Contact |
Telephone/fax |
Country |
|
ANDENEX-CHEMIE ENGELHARD & PARTNER GMBH |
|
|
GERMANY |
|
SCIENTIFIC SUPPLY CO |
|
|
U.S.A. |
|
MAGNESIA |
|
|
NETHERLANDS |
|
ROUSSELOT ARGENTINA SA |
Jose Maria Frigerio |
(54-11) 4459.4600 |
ARGENTINA |
|
BANKERS /
REFERENCE |
||||
|
Bank Name |
Account Number |
Account Officer |
Telephone |
Country |
|
BANCO PROMERICA SA |
|
|
|
GUATEMALA |
|
BANCO INTERNACIONAL SA |
|
|
|
GUATEMALA |
|
BANCO G&T CONTINENTAL SA |
|
|
|
GUATEMALA |
|
BANK COMENTS |
||||
|
Consulted Banks did not provide information on their clients per bank
secrecy. |
||||
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.68 |
|
Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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.