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Report No. : |
357137 |
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Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHARMASTAR INT’L.
TRADING CORPORATION |
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|
|
|
Registered Office : |
Felipe Pike St.,
Greenvalley Subd., Bagong Ilog, Pasig
City 1600 |
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|
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Country : |
Philippines |
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Financials (as on) : |
2014 |
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Date of Incorporation : |
27.10.2008 |
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|
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Legal Form : |
Private
Corporation |
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|
|
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Line of Business : |
Importation, selling, distributor of pharmaceutical products and others in similar nature, merchandise, commodities products and goods, and similar in nature. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Philippines |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
PHILIPPINES ECONOMIC OVERVIEW
The economy has weathered global economic shocks better than its regional peers due to less exposure to troubled international securities, lower dependence on exports, relatively resilient domestic consumption, large remittances from four- to five-million overseas Filipino workers, and a rapidly expanding outsourcing industry. The current account balance has recorded consecutive surpluses since 2003, international reserves remain at comfortable levels, and the banking system is stable; the stock market resumed an upward trajectory in 2014, climbing to new record highs during the first four months of 2015. Efforts to improve tax administration and management of expenditures have helped ease the Philippines' tight fiscal situation and reduce debt levels. Nevertheless, government taxation and spending remain weak. The Philippines has received investment-grade credit ratings on its sovereign debt under the AQUINO administration and has had little difficulty financing its deficits. Economic growth has accelerated, averaging 6.0% per year from 2011-2014, compared with 4.5% under the MACAPAGAL-ARROYO government; competitiveness has improved; and foreign direct investment hit a historic high in 2014, although it continues to lag compared with the rest of the region. Unemployment has remained high, hovering at around 7% of the population, and underemployment is nearly 20%. At least 40% of the employed work in the informal sector and poverty afflicts about a quarter of the population. The AQUINO administration has been working to boost expenditures for education, health, transfers to the poor, and other social spending programs. Infrastructure remains underfunded and the government is relying on the private sector to help with major projects under its Public-Private Partnership program. Other long term challenges include reforming governance, the judicial system, and the regulatory environment, and improving the ease of doing business. The Philippine Constitution and other laws restrict foreign ownership in important activities/sectors - such as land ownership and public utilities. Some progress has been made in establishing a Customs Modernization Act to meet international standards and commitments.
|
Source
: CIA |
Company: PHARMASTAR INT’L. TRADING
CORPORATION
Address: Felipe Pike St., Greenvalley Subd., Bagong Ilog, Pasig City 1600
Country: Philippines
Service Type: Normal
We conducted research and verification on PHARMASTAR INT’L. TRADING
CORPORATION. Hereunder our
report, viz:
Private Corporation
PHARMASTAR INT’L. TRADING CORPORATION
-
REGISTRATION – (Per
General Information Sheet for the Year 2014, filed Oct. 16, 2015)
Certificate
No. : CS200816907
Date : October 27,
2008
Term : Fifty (50)
years.
Corp. Tax No. : 007 162 170 000
Type
of
Organization : Stock Corporation
Telephone
No. : (632) 706 4750
Fax
No, : (632) 661
7933
Address : Block 1 Lot 10, No. 8 Felipe Pike Street, Greenvalley
Subdivision,
Bagong Ilog, Pasig City
Importation, selling, distributor of pharmaceutical products and others in similar nature, merchandise, commodities products and goods, and similar in nature.
(Php)
No. of Shares Par Value/share Amount
Authorized
Capital Stock :
Common -
150,000 - 100.00 - 15,000,000.
vvvvvvvvv
Subscribed & Paid Up
- 50,000 - 100.00 - 5,000,000.
vvvvvvvvv
|
Name/Nationality/Designation |
Paid – Up (Php) |
|
1.Chandru
K. Jainani - Indian
- Chairman |
2,000,000. |
|
2.Gina
A. Jainani - Fil.
- Corp. Secretary |
2,000,000. |
|
3.Monty
Krizchen A. Jainani – Fil. - President |
250,000. |
|
4.Chirag
A. Jainani - Fil. -
Treasurer |
500,000. |
|
5.Florencio
P. Valero - Fil. –
Vice President |
250,000. |
|
TOTAL |
5,000,000. vvvvvvvvv |
Establsihed in
1990, subject company is a fast rising company engaged in the importation,
marketing and distribution of medical, surgical and laboratory disposables,
instruments, devices and equipment. It
has expanded its operations locally by providing services not only to Metro
Manila but also to the different regions of the archipelago. Dealings with
private & government hospitals and participate with government tenders. Likewise, engage in
the rental of real estate property.
Product Lines,
include –
PHARMACEUTICALS –
anti coagulant; adrenergic agent; anticholinergic agent; anti anemic;
antibiotics; biphosphonates; anti cancer; estrogen antagonist; anti ulcer;
antispasmodic, etc.
MEDICAL EQUIPMENT –
wheelchairs; walkers; canes; crutches; i.v. stand; hospital tables & beds;
etc.
MEDICAL SUPPLIES
- needles; feeding bags; umbilical cord
clamp; dialysis set; endotracheal tube; surgical gloves; etc.
IN-VITRO
DIAGNOSTIC/LABORATORY - reagents;
equipments; flash chemiluminesence reagents & equipment; Elisa reagent
& equipment; etc.
Office address at Suite 3202 Antel Global Corp. Center, No. 3 Dona Julia Vargas Avenue, Ortigas Center, Pasig, Metro Manila.
Tel. Nos. (632) 501 4693 / 661 7933
Email: phitco1@gmail.com
(Audited Financial Statement for years 2014, 2013, & 2012, as
compiled)
Balance
Sheet
|
|
2014 (Php) |
2013 (Php) |
2012 (Php) |
|
Assets |
|
|
|
|
Current Assets |
|
|
|
|
Cash |
1,404,946. |
1,068,403. |
852,886. |
|
Accounts Receivable |
4,755,342. |
2,490,709. |
1,022,718. |
|
Prepaid Insurance |
39,564. |
NIL |
NIL |
|
Inventories |
28,474,821. |
14,742,524. |
9,322,983. |
|
Total Current Assets |
34,674,673. |
18,301,636. |
11,198,587. |
|
|
|
|
|
|
Non - Current Assets |
|
|
|
|
Property & Equipment |
10,239,762. |
9,561,554. |
9,540,356. |
|
TOTAL ASSETS |
44,914,435. vvvvvvvvvv |
27,863,189. vvvvvvvvvv |
20,738,943. vvvvvvvvvv |
|
|
|
|
|
|
Liabilities
& Stockholder’s |
Equity |
|
|
|
Current Liabilities |
|
|
|
|
Trade & Other Payables |
626,974. |
664,600. |
1,023,596. |
|
Loan Payable |
13,670,865. |
12,523,281. |
10,322,114. |
|
Income Tax Payable |
64,718. |
122,353. |
128,334. |
|
Other Current Liabilities |
448,350. |
59,049. |
64,265. |
|
Total Current Liabilities |
14,810,907. |
13,369,283. |
11,583,309. |
|
|
|
|
|
|
Non Current Liabilities |
|
|
|
|
Notes Payable |
10,213,066. |
NIL |
NIL |
|
Advances from
Stockholders |
15,000,000. |
10,000,000. |
10,000,000. |
|
Total Non Current Liabilities |
25,213,066. |
10,000,000. |
10,000,000. |
|
TOTAL LIABILITIES |
40,023,973. |
23,369,283. |
21,583,309. |
|
|
|
|
|
|
Stockholder’s Equity |
|
|
|
|
Share Capital |
5,000,000. |
5,000,000. |
62,500. |
|
Cumulative Earnings |
( 109,538.) |
( 506,094.) |
( 861,866.) |
|
Total Stockholder’s Equity |
4,890,462. |
4,493,906. |
( 799,366.) |
|
TOTAL LIABILITIES & STOCKHOLDERS
EQUITY |
44,914,435. vvvvvvvvvv |
27,863,189. vvvvvvvvvv |
20,738,943. vvvvvvvvvv |
|
|
|
|
|
|
Income |
Statement |
|
|
|
|
|
|
|
|
Revenues |
30,121,080. |
16,054,649. |
16,029,909. |
|
Gross Profit |
7,745,257. |
5,505,770. |
3,938,729. |
|
Administrative
Expenses |
( 7,178,749.) |
(
4,997,525.) |
( 3,510,949.) |
|
Net Income
before Tax |
566,508. |
508,245. |
427,780. |
|
NET INCOME
AFTER TAX |
396,556. vvvvvvvvvv |
355,772. vvvvvvvvvvv |
299,446. vvvvvvvvvvvv |
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|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
PHP |
1 |
Rs.1.40 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.