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Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
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Name : |
FARMATRADE S.R.L. |
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Registered Office : |
Calle 8 (ex Azcuenaga) No. 4029, Villa Lynch, Buenos Aires Province, Republic of Argentina. |
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Country : |
Argentina |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
09.08.1990 |
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Legal Form : |
Liability Limited Company |
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Line of Business : |
Import and
marketing of raw materials for cosmetics |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ARGENTINA - ECONOMIC
OVERVIEW
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and an unprecedented bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy in 2010 rebounded strongly from the 2009 recession, but has slowed since late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which have kept inflation in the double digits. The government expanded state intervention in the economy throughout 2012. In May the Congress approved the nationalization of the oil company YPF from Spain's Repsol. The government expanded formal and informal measures to restrict imports during the year, including a requirement for pre-registration and pre-approval of all imports. In July the government also further tightened currency controls in an effort to bolster foreign reserves and stem capital flight
|
Source
: CIA |
FARMATRADE
S.R.L.
C.U.I.T.:
30-64122177-1
INCORPORATED IN
1990. BEGGINER OF
ACTIVITIES. SOCIAL CAPITAL $
2.250.000.- IT DOESN'T SUPPLY
FINANCIAL INFORMATION TO THIRD
PARTIES. STABLE PERSPECTIVES. IT
FULFILLS ITS
COMMITMENTS. FIT FOR CURRENT CREDITS WITH ADDITIONAL SECURITIES.
IMPORT AND
MARKETING OF RAW MATERIALS FOR COSMETICS.
LEGAL FORM: LIABILITY LIMITED COMPANY
CREATED: 09 AUGUST 1990
REGISTERED RPC: 26 NOVEMBER 1990
DURATION: 99 YEARS
END OF FISCAL YEAR: 31.12
Accountant: Carolina
Zeman
operative address: Calle 8 (ex Azcuenaga) No. 4029, Villa
Lynch, Buenos Aires Province, REPUBLIC of ARGENTINA.
Phone: (54-11)
4753-7474 Fax: (54-11) 4753-1851
E-Mail: carolinazeman@farmatrade.com.ar
Legal
address: Sarmiento 1426, 5to.piso,
Buenos Aires City.
PARTNERS:
DIEGO MARTIN
INI
RICARDO
ALBERTO GHIGLIONE
ADELA INES
ALONSO
Using
signature: It is the responsibility of
all partners in caracterde Managers.
Social
Capital: $ 2.250.000.-
INI DIEGO
MARTIN (CUIT 20-14820320-3)
Argentino,
married, born 2/5/1962, D.N.I. No. 14.820.320, with address in Jose Ingenieros
2858, Becar, Buenos Aires Province.
GHIGLIONE
RICARDO ALBERTO (CUIT 20-10777525-1)
Argentino, married, born 19/1/1953, D.N.I. No. 10.777.525, with address in
Concordia 2742, Buenos Aires City.
The
activities to which reference was initiated by this society, grabbing governed
by legal clauses above, the company aims
to import and marketing of raw materials for the preparation of cosmetics.
Economic-Financial Position Last Known Balance at July 31, 2011 .
The report was delayed as we are managing balance as at 31 July 2012 , as soon as we have it in our power to send Mr. Subscriber . In figures of our country.
Cash , investments, credits and other 10,323,206
Inventories 10,867,517
Current assets 21,190,723
Non-current assets 507 704
Total assets 21,698,427
debts 17,116,750
Salaries and social security 257 358
Current liabilities 17,374,108
Noncurrent liabilities - - .
Total Liabilities 17,374,108
Equity 4,324,319
Grand Total 21,698,427
Net sales 37,780,908
Cost of sales - 27,613,843
Income (Loss)Gross 10,167,065
Marketing expenses - 3,799,492’’
Bookingcosts - 2620708
Sub Total 3,746,865
Other expenses - 2,111,116
PROFIT 1,635,749
REAL ESTATE:
Calle 8 (ex Azcuenaga) No.
4029, Villa Lynch, Buenos Aires Province, REPUBLIC
of
ARGENTINA.
800 m2 of
surface covered.
ALEMBIC
PHARMACEUTICALS LTD (INDIA) GRINDLAYS PHARMACEUTICALS (INDIA) MEGAFINE PHARMA
(INDIA) SMS PHARMACEUTICALS (INDIA) FARMA INTERNATIONAL INC (USA)
Is related
to these providers for several years and these credits obtained moderate, which
cancels in terms ranging from 30 to 90 days.
So far it
has been maintaining proper care of commitments and is referred to in good
terms.
At present
and within the moderate level in which it operates its development can be
described as normal and stable outlook assigned to it.
Effected
imports from India, China and the U.S.A.
and usually make exports to countries that operate under the agreements of
Mercosur.
FOREIGN
TRADE:
In the last
twelve months, it has made specific
imports by u$s 6.020.220 according to the following detail:
INDIA
1.450.972
CHINA
2.609.334
EE.UU. 415.420
OTHERS 1.544.495
The main
imports were:
Heterocyclic
compounds, monocarboxylic acids, acrylic and mirror tiles.
MAIN
SUPPLIERS:
ALEMBIC
PHARMACEUTICALS LTD (INDIA) GRINDLAYS PHARMACEUTICALS (INDIA) MEGAFINE PHARMA
(INDIA) SMS PHARMACEUTICALS (INDIA) FARMA INTERNATIONAL INC (USA)
22 employees
BANCO
CREDICOOP
Villa Lynch
BANCO DE
GALICIA Y B.A. San Martin
INSURANCE:
ASOCIART
S.A. LA BUENOS AIRES S.A.
CREDIT RISK
BANCO
CREDICOOP. 7.017.200
BANCO DE
GALICIA 202.700 AMERICAN EXPRESS 144.500
Situation 1:
normal.
At present
the company is canceling holder obligations assumed within normal Terms rated.
- There is evidence of delays so we understand your concept remains
satisfactory.
* COMPLIANCE
ORDERED OF OBLIGATIONS.
So
understand possible new relationships on credit, working for moderate amounts
and guarantees of pratica.
SIGNATURE FIT FOR A CREDIT BRING NEW RELATIONSHIPS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.