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Report No. : |
357134 |
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Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ENDURE MEDICAL INC. |
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Registered Office : |
Unit 17 A Belvedere Tower, San Miguel
Avenue, Pasig City, Metro Manila |
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Country : |
Philippines |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
23.09.2002 |
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Legal Form : |
Private Corporation |
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Line of Business : |
Subject engaged
in in manufacture, buy, sell, import, export; and otherwise, deal
in at wholesale & retail, all
drugs, medicines, chemicals, pharmaceutials, soaps, perfumeries, lotions, toilet preparations, beauty aids
of all kinds, surgical & dental instruments, physicians and hospital supplies & equipment and to maintain
& operate a drugstore on wholesale/retail basis |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 |
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.
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Source
: CIA |
Company: ENDURE MEDICAL INC.
Country: Philippines
We conducted research and verification on
ENDURE MEDICAL INC. Hereunder our report, viz:
Private Corporation
REGISTRATION – (Per General Information Sheet for the Year
2014, filed June 04, 2015)
a) Certificate No. : CS200256286
b) Date
: September 23, 2002
c) Term
: Fifty (50) years.
d) Corp. Tax No. : 220 774 681
e) Type of
Organization :
Stock Corporation
Office/Business Address : Unit 17 A Belvedere Tower, San Miguel
Avenue, Pasig City,
Metro Manila
Telephone No. : (632) 584 7282
Fax No. : (632) 584 7267
Email : endureinfo@enduremedical.com.ph
Importation & Distribution of drugs,
medical supplies and biological products.
PHIL. PHARMAWEALTH INC.
SINGAPORE PHARMAWEALTH LIFESCIENCES, INC.
(Php)
No. of Shares Par
Value/share Amount :
Authorized
Capital Stock :
Common - 400,000 - P100.00 - 40,000,000.
vvvvvvvvvvv
Subscribed Capital
- 100,000 - P100.00 - 10,000,000.
vvvvvvvvvv
Paid Up Capital
- 25,000 - P100.00 - 2,500,000.
vvvvvvvvv
|
Name/Designation |
Paid – Up (Php) |
|
1.Hernan D. Biron, Sr. -
Chairman |
1,125,000. |
|
2.Francis G. Lavilla - President |
100,000. |
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3.Diana G. Biron - Treasurer |
1,125,000. |
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4.Hernan D. Biron, Jr. -
Director |
100,000. |
|
5.Kris Mae Bolivan Agtas -
Corporate Secretary |
50,000. |
|
TOTAL |
2,500,000.
vvvvvvvvv |
(*) All
Filipinos
Since
inception, continue to engage in manufacture, buy, sell, import, export; and
otherwise, deal in at wholesale & retail,
all drugs, medicines, chemicals, pharmaceutials, soaps, perfumeries, lotions,
toilet preparations, beauty aids of all kinds, surgical & dental
instruments, physicians and hospital supplies & equipment and to maintain
& operate a drugstore on wholesale/retail basis. As gathered, subject
company is also affiliated with Singapore based ENDURE MEDICAL TECHNOLOGIST,
PTE. LTD.
Established
to provide high quality & innovative branded generics like Sevoflurane,
Sterile Aztreonam; Sterile Paracetamol Infusion and Sterile Paracetamol &
Transmodal Infusion. Exporting inhalation anesthesia & sterile penicillin
& caphalo sporins to various countries.
Product Lines includes – Derma; Food; General Pharma; Hospital
Disposables; Hospital Equipment
& Furniture.
(Audited Financial Statement for years 2013,
2012, & 2011, as compiled)
Balance Sheet
|
|
2013 (Php) |
2012 (Php) |
2011 (Php) |
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Assets |
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Current
Assets |
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|
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Cash |
4,097.748. |
3,803,855. |
5,068,130. |
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Merchandise Inventory |
129,479,588. |
105,838,484. |
118,840,215. |
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Account Receivables |
10,470,643. |
8,327,918. |
9,930,854. |
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Prepaid Expenses & Other Current Assets |
5,519,580. |
3,728,810. |
5,856,700. |
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Total Current Assets |
149,567,559. |
121,699,067. |
139,695,899. |
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Non -
Current Assets |
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Property & Equipment |
17,020,608. |
18,312,720. |
19,604,832. |
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Other Assets |
369,528. |
369,528. |
67,499. |
|
Total Non Current Assets |
17,390,136. |
18,682,248. |
19,672,331. |
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TOTAL
ASSETS |
166,957,695. vvvvvvvvvvv |
140,381,315. vvvvvvvvvvv |
159,368,230. vvvvvvvvvvvv |
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Liabilities & Stockholder’s
Equity |
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Current
Liabilities |
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Trust Receipts Payable |
45,389,877. |
27,634,280. |
31,093,125. |
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Accrued Expenses & Other Current Liabilities |
235,503. |
317,962. |
98,799. |
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Total Current Liabilities |
45,625,380. |
27,952,242. |
31,191,924. |
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Non-Current
Liabilities |
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Due to Related Parties |
102,254,625. |
99,212,056. |
117,316,304. |
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TOTAL LIABILITIES |
147,880,005. |
127,164,298. |
148,508,228. |
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Stockholder’s
Equity |
|
|
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Capital Stock |
2,500,000. |
2,500,000. |
2,500,000. |
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Retained Earnings |
16,577,690. |
10,717,017. |
8,360,002. |
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Total Stockholder’s Equity |
19,077,690. |
13,217,017. |
10,860,002. |
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TOTAL
LIABILITIES & STOCKHOLDERS EQUITY |
166,957,695. vvvvvvvvvvvv |
140,381,315. vvvvvvvvvvv |
159,368,230. vvvvvvvvvvv |
Income Statement
|
Sales |
363,584,312. |
304,612,766. |
153,607,732. |
|
Gross
Profit |
42,551,494. |
35,608,886. |
17,764,259. |
|
Operating
Expenses |
( 34,179,103.) |
(
32,241,722.) |
( 15,672,045.) |
|
Net
Income before Tax |
8,372,391. |
3,367,164. |
2,092,214. |
|
NET INCOME |
5,860,674. vvvvvvvvvvv |
2,357,015. vvvvvvvvvvv |
1,464,550. vvvvvvvvvvvv |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
|
PHP |
1 |
Rs.1.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
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Report Prepared
by : |
TRU |
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 |
|
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 |
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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 |
-- |
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.