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Report No. : |
345458 |
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Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
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Name : |
INSTITUTO SANITAS S A |
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|
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Registered Office : |
Avenida Americo Vespucio 1260 Quilicura Santiago |
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Country : |
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Date of Incorporation : |
18.02.1920 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Subject is engaged in manufacturing, processing and selling pharmaceutical
preparations for human consumption, including serum, vaccines, analgesics,
vitamins, anti-inflammatories, antiseptics, cardiovascular and diagnostic
substances, perfumes. |
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|
|
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No. of Employee : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
250 000 |
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Status : |
Good |
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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) |
|
Chile |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy characterized by a high
level of foreign trade and a reputation for strong financial institutions and sound
policy that have given it the strongest sovereign bond rating in South America.
Exports of goods and services account for approximately one-third of GDP, with
commodities making up some three-quarters of total exports. Copper alone
provides 19% of government revenue. From 2003 through 2013, real growth
averaged almost 5% per year, despite the slight contraction in 2009 that
resulted from the global financial crisis. Growth slowed to 4.2% in 2014. Chile
deepened its longstanding commitment to trade liberalization with the signing
of a free trade agreement with the US, which took effect on 1 January 2004.
Chile has 22 trade agreements covering 60 countries including agreements with
the European Union, Mercosur, China, India, South Korea, and Mexico. Chile has
joined the United States and 10 other countries in negotiating the
Trans-Pacific Partnership trade agreement. The Chilean Government has generally
followed a countercyclical fiscal policy, accumulating surpluses in sovereign
wealth funds during periods of high copper prices and economic growth, and
generally allowing deficit spending only during periods of low copper prices
and growth. As of 31 December 2012, those sovereign wealth funds - kept mostly
outside the country and separate from Central Bank reserves - amounted to more
than $20.9 billion. Chile used these funds to finance fiscal stimulus packages
during the 2009 economic downturn. In May 2010 Chile signed the OECD
Convention, becoming the first South American country to join the OECD. In 2014,
President Michelle BACHELET introduced tax reforms aimed at delivering her
campaign promise to fight inequality and to provide access to education and
health care. The reforms are expected to generate additional tax revenues equal
to 3% of Chile’s GDP, mostly by increasing corporate tax rates to OECD
averages.
|
Source
: CIA |
STATUTORY
INFORMATION
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Order: |
INSTITUTO
SANITAS S A |
|
Address in the
order: |
Avenida Americo
Vespucio 1260 Quilicura Santiago Chile |
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Legal Name: |
INSTITUTO
SANITAS S.A. |
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Trade Name: |
Instituto
Sanitas |
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RUT: |
90073000-4 |
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Date Created: |
1920 |
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Date
Incorporated: |
18/02/1920 |
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Legal Address: |
Américo Vespucio
1260, Santiago 8730606, Región Metropolitana, Chile |
|
Operative
Address: |
Américo Vespucio
1260, Santiago 8730606, Región Metropolitana, Chile |
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Telephone: |
(56-2) 2444 6600 |
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Fax: |
(56-2) 2444 6651 |
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Legal Form: |
Sociedad Anónima |
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Email: |
|
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Registered in: |
Chile |
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Website: |
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Manager: |
Manuel Barros |
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Staff: |
250 |
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Activity: |
Import,
manufacture and distribution of pharmaceutical products |
BANKS
|
|
|
Name of the
Bank: |
Banco de Chile |
|
|
The company does
not make its bank information public |
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HISTORY The
company started business in 1920. |
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PRINCIPAL ACTIVITY The company is
engaged in the manufacture and marketing of pharmaceutical products |
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|
Products/Services
description: |
ANALGESIC |
|
Brands: |
Some of their
several trademarks: |
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Sales are: |
Wholesale |
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Clients: |
Distributors,
Pharmacies, Hospitals |
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Suppliers: |
Indukern, S.A. |
|
Operations area:
|
National |
|
The company
imports from |
Europe, South
America |
|
The company
exports to |
South America |
|
The subject
employs |
250 employees |
|
Payments: |
Regular |
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LOCATION |
|
|
Headquarters : |
Américo Vespucio
1260, Santiago 8730606, Región Metropolitana, Chile |
|
Branches: |
The company does
not have branches |
|
Business
Overview: |
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. Drugs are
chemicals with beneficial biological activity. Modern drug development is an
outgrowth of recent research into the specific causes of illness and disease,
coupled with advances in chemistry and industrial technology that allow
scientists to manufacture chemicals to improve these conditions. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
|
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Listed at the
stock exchange: |
NO |
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Capital: |
M$ 2.679.860 |
|
Shareholders %: |
Quilicura S.A.
is one of the major holders. |
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Management: |
President, Joaquín
Barros Fontaine |
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Related
Companies: |
Instituto
Sanitas Argentina S.A. |
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FINANCIAL INFORMATION |
|
|
This is a
private company which does not make its financials public. The following
information has been provided by our outside sources. |
|
|
YEAR |
2014 |
|
Revenue |
29 917 000 |
|
Cash Flow |
Normal |
|
|
|
|
Imports in US$ |
|
|
Year |
Total |
|
2014 |
US$ 2,079,506 |
|
2012 |
US$ 2,895,738 |
|
2011 |
US$ 2,361,627 |
|
2010 |
US$ 2,226,201 |
|
2009 |
US$ 1,505,585 |
|
2008 |
US$ 1,642,203 |
|
2007 |
US$ 1,163,887 |
|
2006 |
US$ 1,727,437 |
|
|
|
|
|
|
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Exports in US$ |
|
|
Year |
Total |
|
2014 |
US$ 62,352 |
|
2012 |
US$ 20,471 |
|
2006 |
US$ 46,000 |
|
2005 |
US$ 8,750 |
|
2004 |
US$ 10,300 |
|
2003 |
US$ 4,750 |
|
2002 |
US$ 5,200 |
|
2000 |
US$ 15,639 |
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LEGAL FILINGS
There are no
legal/criminal connected to the subject |
|
SUMMARY Instituto
Sanitas is engaged in manufacturing, processing and selling pharmaceutical preparations
for human consumption, including serum, vaccines, analgesics, vitamins,
anti-inflammatories , antiseptics, cardiovascular and diagnostic substances,
perfumes.
|
|
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RISK INFORMATION
|
|
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Good |
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Requested Credit Amount |
Maximum |
|
Maximum Credit Provided |
USD 250 000 |
|
ENTERVIEW |
|
|
NAME |
Gabriela |
|
POSITION |
Administrative |
|
COMMENTS |
She confirmed
address, brands, RUT, experience, activity and staff. She refused to confirm
more data. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.