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Report No. : |
318028 |
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Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIO QUIMICO FARMACEUTICO INDUSTRIAL DELTA S.A. |
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Registered Office : |
Calle Presbitero Medina, Esq. Pasaje
Taltal #2, Sopocachi La Paz - Bolivia |
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Country : |
Bolivia |
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Date of Incorporation : |
09.06.1905 |
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
Manufacture of Pharmaceuticals, Medicinal Chemicals and Botanical
Products for Pharmaceutical Use |
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No. of Employees : |
90 |
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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Maximum Credit Limit : |
USD 25 000 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Bolivia |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 a resource rich country with strong growth
attributed to captive markets for natural gas exports. However, the country
remains one of the least developed countries in Latin America because of
state-oriented policies that deter investment and growth. 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. High
commodity prices since 2010 sustained rapid growth and large trade surpluses.
However, a lack of foreign investment in the key sectors of mining and
hydrocarbons, along with conflict among social groups pose challenges for the
Bolivian economy. President Evo MORALES passed an investment law and promised
not to nationalize additional industries in an effort to improve Bolivia’s
investment climate.
|
Source
: CIA |
STATUTORY
INFORMATION
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|
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Legal Name: |
LABORATORIO QUIMICO FARMACEUTICO INDUSTRIAL DELTA S.A. |
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Trade Name: |
Laboratorios Delta |
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NIT: |
1005321025 |
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Date Created: |
1987 |
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Date Incorporated: |
09/06/1905 |
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Legal Address: |
Calle Presbitero Medina |
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Operative Address: |
Calle Presbitero Medina |
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Telephone: |
591 2 2411845 |
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Fax: |
591 (2) 241 15 16 |
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Legal Form: |
Sociedad Anónima |
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Email: |
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Registered in: |
Bolivia |
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Website: |
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Contact: |
Jorge Rodolfo Claros Fuentes |
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Staff: |
90 |
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Activity: |
Pharmaceutical Products Mnaufacturing Industry |
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BANKS |
Banco Central de Bolivia |
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The company does not make its bankg data public |
HISTORY
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Delta Laboratories was founded in 1987 with the aim of supplying
pharmacies served by the family group Claros Fuentes. The founders were the
spouses Jorge Claros E. Rojas and Gladys M. Fuentes Dubravcic. During the
early years they invested as equity propiolos savings Claros Sources family
starting with 10000.- US $. Although growth was constant, it was slow due to
lack of information and knowledge of "knowhow" for the category.
This "Know-how" was gained with time and work of Dr. Jorge Claros
who for many was the engine of the company developing all products. However
the lack of capital, excessive competition and poor training policy of the
company hampering their development. Towards the beginning of the 90 new
investments in machinery was done, this allows to break the barrier breaking
point and makes the company into a profitable industry but requires a lot of
investment and direct work by the partners. |
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In the late 90s the company is a lucrative business that is sustained
and has distributors throughout the country, however the most successful
space remains the city of La Paz where 80% of the company's business is
concentrated. In this period and due to a terminal illness Dra. Gladys
Fuentes gives up its stake their children Rodolfo Jorge Claros Claros Daniel
Fuentes and Carlos Fuentes. While Jorge Claros R. Fuentes starts work next to
his father in the accounting control. For 1999 contract with a new
distributor is signed in the city of Santa Cruz, which increases sales
Laboratory, for 2002 they enter the bidding for the National Health Fund
achieving an award of 76,000US$ to the time represented 25% of net sales
Laboratory. This increase in sales forced the company to acquire new
equipment to meet demand. Thus the acquisition of a package of machines the
company Unionstandard New York, including a rotary tableting equipment
purchased is brand Killian which to date is still the main production
equipment performed. |
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PRINCIPAL
ACTIVITY
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The company is dedicated to the manufacture of pharmaceuticals,
medicinal chemicals and botanical products for pharmaceutical use |
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Products/Services description: |
ACARSAN |
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Brands: |
DELTA |
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Sales are: |
Wholesale |
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Clients: |
Pharmacists, Distributors |
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Suppliers: |
Productores De Envases Farmaceuticos S A S |
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Operations area: |
National |
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The company imports from |
Colombia |
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The company exports to |
No exports |
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The subject employs |
90 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
Calle Presbitero Medina |
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Branches: |
Sucursal – Santa Cruz |
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Industry: |
Companies in this industry manufacture and process pharmaceutical
products. Demand for pharmaceuticals is driven by the desire to cure illness and
disease. The profitability of individual companies depends on their ability
to discover and market new drugs. Large companies benefit from their
economies of scale in research, manufacturing, and marketing. Small companies
can compete effectively by specializing in drugs that target one or two
specific ailments and by partnering with larger drugmakers. |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders %: |
This is a provate company. Major holders
are: |
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Management: |
Jorge Claros Fuentes, Credit Manager |
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Related Companies: |
There are no subsidiary companies |
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FINANCIAL
INFORMATION
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This is a private company which does not make its financial statements
public. |
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There are no financial connected to the subject |
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LEGAL
FILINGS
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Licence to operate: |
25802 |
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SUMMARY
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Laboratorios Delta is a Bolivian pharmaceutical company with 28 years
of experience in the market. The company has a large sized structure with 3 branches and 2 plants
in the country. It imports from Colombia and provides pharmaceutical products within
Bolivia. There are no negative records for the subject. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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SUGGESTED CREDIT
LINE |
USD 25 000 |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Na |
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POSITION |
Sales |
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COMMENTS |
The person contacted confirmed managers and activity. She refused
to provide more data on the subject. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.93.85 |
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Euro |
1 |
Rs.67.59 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.