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Report No. : |
350248 |
|
Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PIRAMIDA D.O.O. ZA PROIZVODNJU FARMACEUTSKE AMBALAŽE |
|
|
|
|
Registered Office : |
Resnička 10, HR 10360 Sesvete |
|
|
|
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Country : |
Croatia |
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|
|
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Financials (as on) : |
31.12.2014 |
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|
|
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Year of Establishment : |
1950 |
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|
|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
· Manufacture and Processing of Other Glass, Including Technical Glassware · Production of Glass Pharmaceutical Packaging. |
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|
|
|
No. of Employees : |
179 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Croatia |
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 |
CROATIA - ECONOMIC OVERVIEW
Though still one of the wealthiest of the former Yugoslav
republics, Croatia's economy suffered badly during the 1991-95 war. The
country's output during that time collapsed, and Croatia missed the early waves
of investment in Central and Eastern Europe that followed the fall of the
Berlin Wall. Between 2000 and 2007, however, Croatia's economic fortunes began
to improve with moderate but steady GDP growth between 4% and 6% led by a
rebound in tourism and credit-driven consumer spending. Inflation over the same
period remained tame and the currency, the kuna, stable. Croatia experienced an
abrupt slowdown in the economy in 2008 and has yet to recover; economic growth
was stagnant or negative in each year since 2009. Difficult problems still
remain, including a stubbornly high unemployment rate, uneven regional
development, and a challenging investment climate. Croatia continues to face
reduced foreign investment. On 1 July 2013 Croatia joined the EU, following a
decade-long application process. Croatia will be a member of the European
Exchange Rate Mechanism until it meets the criteria for joining the Economic
and Monetary Union and adopts the euro as its currency. EU accession has
increased pressure on the government to reduce Croatia’s relatively high public
debt, which triggered the EU’s excessive deficit procedure for fiscal
consolidation. Zagreb has cut spending since 2012, and the government also
raised additional revenues through more stringent tax collection and by raising
the Value Added Tax. The government has also sought to accelerate privatization
of non-strategic assets, with mixed success.
|
Source
: CIA |
|
PIRAMIDA d.o.o. za proizvodnju farmaceutske ambalaže |
Phone |
+385 1/2000884 |
|
Resnička 10 |
Fax |
+385 1/2027971 |
|
HR 10360 Sesvete |
E-Mail |
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|
|
Web |
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Statistic number |
3278425 |
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|
|
Short name |
PIRAMIDA d.o.o. |
Tax number |
78563010061 |
|
Company status |
Active |
|
|
|
Legal form |
limited liability company |
|
|
Previous legal forms: Until 2012.12.14: joint stock company |
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|
|
|
Established |
1950 1992 as PIRAMIDA d.d. (Plc) Since 2012.12.14 as PIRAMIDA d.o.o. (Ltd) |
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|
|
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Registered |
1992, Commercial court Zagreb, MBS: 080082843 re-registration according to the Companies act made: 1995.06.30 last court entry: 2013.05.08 Statistic number: 3278425 OIB: 78563010061 Mergers: 2013.02.05 PHARMAKON ULAGANJE d.o.o. |
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|
|
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Establishers |
Pharmakon B.V. 100,00% Naritaweg 165, 1043 Amsterdam, Netherlands |
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|
|
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Basic capital |
HRK 26.319.500,00 Capital changes: Until 2003.09.30: HRK 27.802.344,00 Until 2008.12.11: HRK 22.600.800,00 Until 2013.04.12: HRK 17.329.500,00 |
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|
|
|
Management |
Gordan Putanec, president Srebrnjak 126 D, 10000 Zagreb, Croatia Branko Balaban, member Turanski put 15 A, 51000 Rijeka, Croatia Ivan Zec, member Dvorište 10, 10000 Zagreb, Croatia Mila Čiček, member Gorice 60/B, 10000 Zagreb, Croatia |
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|
|
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Activity |
Manufacture and processing of other glass, including technical
glassware Production of glass pharmaceutical packaging legal site and business premises are located at the above address company address till 2000-06-26 at Kelekova 63, Sesvete Basic activity code (according to NACE Rev.2): Manufacture and processing of other glass, including technical
glassware (23.19) |
|
Staff |
2010 126 |
employees |
|
|
2011 137 |
employees |
|
|
2012 143 |
employees |
|
|
2013 179 |
employees |
|
|
2014 179 |
employees |
|
Total revenue |
2010 HRK |
55.019.130 |
|
|
2011 HRK |
59.005.490 |
|
|
2012 HRK |
69.950.560 |
|
|
2013 HRK |
71.208.940 |
|
|
2014 HRK |
75.247.170 |
|
Real estate |
the company owns real estates |
|
|
|
Book value of ground 2014.12.31: HRK 1.294.499,00 Book value of buildings 2014.12.31: HRK 9.059.709,00 information about eventual mortgage existance not available insight into real estate register not possible |
|
|
Assets |
Currency: HRK ( x 1.000 ) |
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
|
FIXED ASSETS |
47.376 |
52.634 |
30.169 |
|
|
Intangible assets |
15.108 |
19.884 |
794 |
|
|
Tangible assets |
32.268 |
32.745 |
29.370 |
|
|
- land and woods |
1.295 |
1.295 |
1.295 |
|
|
- buildings |
9.060 |
9.390 |
9.195 |
|
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- plants and machinery |
14.988 |
16.417 |
8.672 |
|
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- tools, equipment, vehicles |
869 |
734 |
973 |
|
|
- tangible assets in preparement |
6.056 |
4.910 |
9.235 |
|
|
Long term financ. assets |
0 |
5 |
5 |
|
|
- shares in associated companies |
0 |
5 |
5 |
|
|
Long term receivables |
0 |
0 |
0 |
|
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CURRENT ASSETS |
24.165 |
25.550 |
35.641 |
|
|
Inventories |
8.199 |
9.158 |
7.064 |
|
|
- raw and auxiliary materials |
5.216 |
5.035 |
4.474 |
|
|
- trade goods |
9 |
9 |
9 |
|
|
- finished products |
2.975 |
4.114 |
2.580 |
|
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Short term receivables |
15.694 |
13.156 |
16.420 |
|
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- from sales |
14.007 |
11.156 |
12.464 |
|
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- from state and institutions |
1.367 |
1.736 |
3.554 |
|
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- others |
321 |
264 |
402 |
|
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Short term financial assets |
217 |
217 |
11.377 |
|
|
Cash at bank and in hand |
54 |
3.020 |
781 |
|
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ACCRUALS |
286 |
332 |
182 |
|
|
TOTAL ASSETS |
71.827 |
78.517 |
65.992 |
|
Liabilities |
Currency: HRK ( x 1.000 ) |
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
|
EQUITY |
18.208 |
20.883 |
33.616 |
|
|
Subscribed capital |
26.320 |
26.320 |
17.330 |
|
|
Agio due to emitted shares |
3.223 |
3.223 |
3.223 |
|
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Reserves |
3.198 |
3.202 |
3.202 |
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Profit brought forward |
0 |
0 |
867 |
|
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Loss brought forward |
12.536 |
3.320 |
0 |
|
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Profit of the period |
0 |
0 |
8.993 |
|
|
Loss of the period |
1.996 |
8.542 |
0 |
|
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PROVISIONS |
0 |
0 |
0 |
|
|
LONG TERM LIABILITIES |
35.583 |
43.943 |
19.166 |
|
|
SHORT TERM LIABILITIES |
16.098 |
12.756 |
13.207 |
|
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Credits |
3.294 |
0 |
2.188 |
|
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To suppliers |
10.285 |
9.476 |
8.892 |
|
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To staff |
914 |
917 |
792 |
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Taxes, fees, etc. |
528 |
600 |
521 |
|
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Other short term liabilities |
1.078 |
1.764 |
813 |
|
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DEFFERED ITEMS |
1.937 |
934 |
4 |
|
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TOTAL EQUITY AND LIABILITIES |
71.827 |
78.517 |
65.992 |
|
Profit/loss account |
Currency: HRK ( x 1.000 ) |
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
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OPERATING REVENUES |
74.923 |
70.410 |
66.399 |
|
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Sales in the country |
3.782 |
5.142 |
6.055 |
|
|
Sales abroad |
69.585 |
64.727 |
59.981 |
|
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Other revenues |
1.556 |
541 |
362 |
|
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OPERATING EXPENSES |
74.800 |
76.590 |
59.236 |
|
|
Increase in inventories |
|
1.543 |
115 |
|
|
Decrease in inventories |
335 |
|
|
|
|
Material costs |
42.252 |
42.388 |
37.318 |
|
|
- raw material costs |
35.256 |
34.552 |
29.442 |
|
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- sold goods costs |
0 |
273 |
1.068 |
|
|
- other external costs |
6.996 |
7.564 |
6.808 |
|
|
Staff costs |
16.798 |
15.485 |
13.990 |
|
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Depreciation of fixed assets |
9.993 |
13.114 |
4.150 |
|
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Other operating expenses |
5.422 |
7.145 |
3.893 |
|
|
FINANCIAL REVENUES |
325 |
799 |
479 |
|
|
FINANCIAL EXPENSES |
2.443 |
3.044 |
1.525 |
|
|
EXTRAORDINARY REVENUES |
0 |
0 |
3.073 |
|
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EXTRAORDINARY EXPENSES |
0 |
0 |
0 |
|
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TOTAL REVENUES |
75.247 |
71.209 |
69.951 |
|
|
TOTAL EXPENSES |
77.243 |
79.634 |
60.761 |
|
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Profit before taxation |
0 |
0 |
9.190 |
|
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Loss before taxation |
1.996 |
8.425 |
0 |
|
|
Taxation on profit |
0 |
117 |
197 |
|
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PROFIT OF THE PERIOD |
0 |
0 |
8.993 |
|
|
LOSS OF THE PERIOD |
1.996 |
8.542 |
0 |
|
Financial ratios |
|
2014.12.31 |
2013.12.31 |
2012.12.31 |
|
|
Financial stability ratio |
0,9679 |
1,0491 |
1,4176 |
|
|
Solvency ratio (%) |
25,3503 |
26,5972 |
50,9389 |
|
|
Debt ratio (in years) |
5,1719 |
4,3234 |
2,4631 |
|
|
Liquidity ratio |
0,9917 |
1,2851 |
2,1638 |
|
|
Current ratio |
1,5011 |
2,0030 |
2,6986 |
|
|
Total assets turnover |
1,0476 |
0,9069 |
1,0600 |
|
|
Inventories turnover |
9,1771 |
7,7758 |
9,9031 |
|
|
Collection period (in days) |
77,0091 |
67,7843 |
89,5155 |
|
|
Creditors Days |
50,4653 |
48,8258 |
48,4748 |
|
|
Inventories bonding (in days) |
39,2282 |
46,2975 |
36,3523 |
|
|
Profit margin (%) |
|
|
12,8565 |
|
|
Return on total assets (%) |
|
|
13,6277 |
|
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Return on equity (%) |
|
|
26,7530 |
|
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Total revenue per employee (x 1.000) |
420,3753 |
397,8153 |
489,1648 |
|
|
Profit per employee (x 1.000) |
|
|
62,8894 |
|
|
Loss per employee (x 1.000) |
11,1484 |
47,7208 |
|
|
|
Equity per employee (x 1.000) |
101,7222 |
116,6658 |
235,0740 |
|
|
Total assets per employee (x 1.000) |
401,2669 |
438,6397 |
461,4819 |
|
|
Staff costs/Turnover (%) |
22,3234 |
21,7454 |
20 |
|
|
EBIT (x 1.000) |
122,5200 |
-6.180,1600 |
7.162,5800 |
|
|
EBITDA (x 1.000) |
10.115,2800 |
6.934,2700 |
11.312,6100 |
|
|
EBIT Margin (%) |
0,1635 |
-8,7774 |
10,7872 |
|
|
EBITDA Margin (%) |
13,5010 |
9,8485 |
17,0374 |
|
Remarks |
2006 import |
HRK |
9.948.001,00 |
|
|
2007 import |
HRK |
13.980.629,00 |
|
|
2008 import |
HRK |
17.302.026,00 |
|
|
2007 import |
HRK |
15.314.498,00 |
|
|
2010 import |
HRK |
20.383.850,00 |
|
|
|
|
|
|
|
2010 export |
HRK |
46.144.159,00 |
|
|
2011 export |
HRK |
51.479.327,00 |
|
|
2012 export |
HRK |
59.980.870,00 |
|
|
2013 export |
HRK |
64.726.782,00 |
|
|
2014 export |
HRK |
69.584.714,00 |
|
|
|
|
|
|
|
2010 profit |
HRK |
3.550.050 |
|
|
2011 profit |
HRK |
4.605.230 |
|
|
2012 profit |
HRK |
9.189.790 |
|
|
2013 loss |
HRK |
8.424.980 |
|
|
2014 loss |
HRK |
1.995.570 |
|
|
|
||
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Short company name: PIRAMIDA d.o.o. Other shares and functions of Mr. Gordan Putanec: - Jako dobar savjet d.o.o., Zagreb; co-establisher and manager There is no record of payment complaints. Creditreform debt collection
department has not handled any case against the company. According to the
official information from the Register of transaction accounts, the company
accounts are active and are not blocked (date of last check: 2015.11.18). |
||
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Exchange rate: |
|||
|
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2010-12-31 |
EUR 1 = HRK 7,3852 |
|
|
|
|
2011-12-31 |
EUR 1 = HRK 7,5304 |
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|
|
|
2012-12-31 |
EUR 1 = HRK 7,5456 |
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|
|
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2013-12-31 |
EUR 1 = HRK 7,6376 |
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|
|
|
2014-12-31 |
EUR 1 = HRK 7,6615 |
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|
|
|
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Inflation: |
|
|
|
|
|
2010: |
1,1% |
|
|
|
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2011: |
2,3% |
|
|
|
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2012: |
3,4% |
|
|
|
|
2013: |
2,2% |
|
|
|
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2014: |
-0,6% |
|
|
|
|
|
|
|
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Bankers |
ERSTE&STEIERMÄRKISCHE BANK d.d. Jadranski trg 3a, 51000 Rijeka, Croatia HR2224020061100744283 PARTNER BANKA d.d. Voncinina 2, 10000 Zagreb, Croatia HR2424080021100020636 RAIFFEISENBANK AUSTRIA d.d. Petrinjska 59, 10000 Zagreb, Croatia HR7724840081105815065 |
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||
|
Payment behaviour |
no complaints, but occasional delays |
|
Credit opinion |
business connections appear permissible |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NIT |
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.