MIRA INFORM REPORT

 

 

Report No. :

347165

Report Date :

30.10.2015

 

IDENTIFICATION DETAILS

 

Name :

TOTAL PHARMA CORPORATION LIMITADA

 

 

Registered Office :

Bufete Facio Y Canas, San Jose 2120

 

 

Country :

Costa Rica

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Limited Company

 

 

No. of Employees :

5 Employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Maximum Credit Limit :

USD 60 000

 

 

Status :

Offshore Company

 

 

Payment Behaviour :

Unknown

 

 

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)

Costa Rica

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

COSTA RICA - ECONOMIC OVERVIEW

 

Prior to the global economic crisis, Costa Rica enjoyed stable economic growth. The economy contracted 1.3% in 2009 but resumed growth at about 4% per year in 2010-14. While the traditional agricultural exports of bananas, coffee, sugar, and beef are still the backbone of commodity export trade, a variety of industrial and specialized agricultural products have broadened export trade in recent years. High value-added goods and services, including medical devices, have further bolstered exports. Tourism continues to bring in foreign exchange, as Costa Rica's impressive biodiversity makes it a key destination for ecotourism. Foreign investors remain attracted by the country's political stability and relatively high education levels, as well as the incentives offered in the free-trade zones; and Costa Rica has attracted one of the highest levels of foreign direct investment per capita in Latin America. However, poor infrastructure, high energy costs, bureaucracy, weak investor protection, and legal uncertainty due to difficulty of enforcing contracts and overlapping and at times conflicting responsibilities between agencies, remain impediments to greater competitiveness. Costa Rica’s economy also faces challenges due to a rising fiscal deficit, rising public debt, and relatively low levels of domestic revenue. Poverty has remained around 20-25% for nearly 20 years, and the strong social safety net that had been put into place by the government has eroded due to increased financial constraints on government expenditures. Unlike the rest of Central America, Costa Rica is not highly dependent on remittances, which in 2013 represented 1.1% of GDP. Immigration from Nicaragua has increasingly become a concern for the government.

 

The estimated 300,000-500,000 Nicaraguans in Costa Rica, legally and illegally, are an important source of mostly unskilled labor, but also place heavy demands on the social welfare system. The US-Central American-Dominican Republic Free Trade Agreement (CAFTA-DR) entered into force on 1 January 2009 after significant delays within the Costa Rican legislature. CAFTA-DR has increased foreign direct investment in key sectors of the economy, including the insurance and telecommunications sectors recently opened to private investors.

 

Source : CIA

 

 

 

 

 

STATUTORY INFORMATION

 

Order:

Total Pharma Corporation Ltda

Address in the order:

San Francisco de Guadalupe, Barrio Toumon, Oficinas de facio y Canas Cedula Juridica 3-102-424614, San Jose- Costa Rica

Legal Name:

TOTAL PHARMA CORPORATION LIMITADA

Trade Name:

TOTAL PHARMA CORPORATION 

Cédula Jurídica:

3-102-424614

Date Created:

NA

Date Incorporated:

NA

Legal Address:

Bufete Facio Y Canas
San Jose 2120
COSTA RICA

Operative Address:

Bufete Facio Y Canas
San Jose 2120
COSTA RICA

Telephone:

2256 5555

Fax:

2255 2510

Legal Form:

Limited Company

Email:

info@fayca.com

Registered in:

Costa Rica

Website:

www.fayca.com

Contact:

Edwin Mora Murcia, General Manager

Staff:

5

Activity:

International Business Company

 

 

 

 

BANKS

Banco Central de Costa Rica

 

The company does not disclose its banking details

 

 

 

 

History

 

We could not confirm experience of the company.

 

 

 

 

PRINCIPAL ACTIVITY

 

TOTAL PHARMA CORPORATION LIMITADA is an International Business Company incorporated in Costa Rica for tax purposes.

The company uses the registrant address but does not carry any operation in the country.

It is not registered in Costa Rica as being a local business company.

It is not listed with the Costa Rica commercial pages.

Products/Services description:

Pharmaceutical Products

Brands:

NA 

Sales are:

Wholesale

Clients:

TERBOL SA 
Bolivia

Suppliers:

PRODUCTORES DE ENVASES FARMACEUTICOS S A S PROENFAR S A S
Colombia

BAADER SCHULZ LABORATORIES
India

Operations area:

National and International

The company imports from

India, Colombia

The company exports to

Bolivia

The subject employs

5 Employees

Payments:

Unknown

 

 

 

 

LOCATION

 

Headquarters :

Bufete Facio Y Canas
San Jose 2120
COSTA RICA

Branches:

NA

 

 

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders:

This is a private company. We could not confirm shareholders.

Management:

Fernan Pacheco Alfaro, Legal Representative
Edwin Mora Murcia, General Manager
Moira Monasterio, Sales Manager

 

 

 

 

FINANCIAL INFORMATION

 

This is a private company which does not make its financial public.

 

 

 

 

USD 2014

 

Revenue

2 700 000

Cash Flow

Normal

 

 

 

 

LEGAL FILINGS

 

There are no legal connected to the subject

 

 

 

REVIEW

 

Requested Credit Amount

Maximum

Maximum Credit Provided

USD 60 000

 

 

 

 

SUMMARY

 

This is an International Business Company which does not belong to a company located in Costa Rica.

It is registered in the island for tax purposes and does not operate within the country. It is managed by a resident registration agent.

 

 

 

 

RISK INFORMATION

DEBTS

Controlled

PAYMENTS

Unknown

CASH FLOW

Normal

SUGGESTED CREDIT LINE

USD 60 000

STATUS

This Corporation is in Good Standing

 

 

 

 

INTERVIEW

 

NAME

NA

POSITION

Agent

COMMENTS

He confirmed they are the agents in charge of the company. However, they refused to confirm data.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.15

UK Pound

1

Rs.99.36

Euro

1

Rs.71.25

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.