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Report No. : |
338873 |
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Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
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Name : |
KLONAL SRL |
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Registered Office : |
Lamadrid 802, Quilmes 1878-Buenos Aires |
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Country : |
Argentina |
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Date of Incorporation : |
18.05.1973 |
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Legal Form : |
Sociedad De Responsabilidad Limitada |
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Line of Business : |
Subject is engaged in the manufacture and marketing of pharmaceuticals, supplies to nursing homes, clinics, hospitals and pharmacies offering drugs in their various dosage forms: injectables, oral solids, syrups, drops, powders for oral suspension, ova and ophthalmic solutions. |
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No. of Employees : |
292 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Argentina |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
ARGENTINA ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight.
A severe depression, growing public and external indebtedness, and an unprecedented bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in 2007, with understating inflation data.
Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy in 2010 rebounded strongly from the 2009 recession, but has slowed since late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which have kept inflation in the double digits.
The government expanded state intervention in the economy throughout 2012. In May 2012 the Congress approved the nationalization of the oil company YPF from Spain's Repsol. The government expanded formal and informal measures to restrict imports during the year, including a requirement for pre-registration and pre-approval of all imports. In July 2012 the government also further tightened currency controls in an effort to bolster foreign reserves and stem capital flight. In October 2013, the government settled long-standing international arbitral disputes dating back to before and following the 2001 Argentine financial crisis. During 2014, the government continued with expansionary fiscal and monetary policies and foreign exchange and imports controls. Between 2011 and 2013, Central Bank foreign reserves had dropped $21.3 billion from a high of $52.7 billion. In July 2014, Argentina and China agreed on an $11 billion currency swap; the Argentine Central Bank has received the equivalent of $3.2 billion in Chinese yuan, which it counts as international reserves.
In 2014, the government also took some measures to mend ties with the international financial community, including engaging with the IMF to improve its economic data reporting, reaching a compensation agreement with Repsol for the expropriation of YPF, and agreeing to pay $9.7 billion in arrears to the Paris Club over five years, including $606 million owed to the United States. In July 2014, Argentina made its first payment to Paris Club creditors since the country’s 2001 financial crisis. At the same time, the Argentine government in July 2014 entered a technical default on its external debt after it failed to reach an agreement with holdout creditors in the US. The government’s delay in reaching a settlement and the continuation of interventionist and populist policies are contributing to high inflation and a prolonged recession, according to private analysts.
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Source
: CIA |
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Order: |
KLONAL SRL |
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Address in the order: |
Lamadrid 669 (CP 1876BIG) Bernal Buenos
ALBES, Cuit No. 30-574564367 |
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Legal Name: |
KLONAL SRL |
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Trade Name: |
KLONAL / LABORATORIOS KLONAL |
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CUIT: |
30-57456436-7 |
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Date Created: |
1973 |
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Date Incorporated: |
18/05/1973 |
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Legal Address: |
LAMADRID 802 |
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Operative Address: |
Lamadrid 669 - Bernal - Prov. de Buenos
Aires, Argentina. (B1876BIG) Tel. Fax (54 11) 4251-1354 (Rot.) |
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Telephone: |
54 11 4251-1354 54 11 4252-7192 |
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Fax: |
54 11 4251-1354 |
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Legal Form: |
SOCIEDAD DE RESPONSABILIDAD LIMITADA |
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Email: |
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Registered in: |
AGENCY NRO 100 |
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Website: |
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Contact: |
NicoláS Alfredo Santander |
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Staff: |
292 |
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Activity: |
Pharmaceutical Manufacturing Industry |
According to Argentinian Central Bank, the company maintains credit lines with the following banks:
|
BANK |
AMOUNT IN AR$ |
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|
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BANCO CREDICOOP COOPERATIVO
LIMITADO |
14147,4 |
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BANCO DE GALICIA Y BUENOS AIRES
S.A. |
10366,7 |
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HSBC BANK ARGENTINA S.A. |
4591 |
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BANCO DE LA PROVINCIA DE BUENOS
AIRES |
3746,5 |
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BANCO SUPERVIELLE S.A. |
1833,1 |
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BANCO DE LA CIUDAD DE BUENOS
AIRES |
1075,4 |
According to the classification of banking relations of Argentina, the company operates with level: 1.
This is the highest classification in the system. It means that the company/person is fulfilling correctly its
current Credit obligations.
No rejected checks
The company started business in 1973
The company is engaged in the manufacture and marketing of pharmaceuticals, supplies to nursing homes, clinics, hospitals and pharmacies offering drugs in their various dosage forms: injectables, oral solids, syrups, drops, powders for oral suspension, ova and ophthalmic solutions.
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Products/Services description: |
DIGESTIVE
APPARATUS |
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Brands: |
Some of its
various brands are: |
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Sales are: |
Wholesale |
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Clients: |
Nursing homes, clinics, hospitals and
pharmacies |
|
|
Loba Import
Export Srl |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company imports from |
China |
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The company exports to |
Latin America |
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The subject employs |
292 employees |
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Payments: |
Regular-made on a 45 day basis-monitored
over the last 60 days |
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Headquarters : |
Lamadrid 669 - Bernal - Prov. de Buenos
Aires, Argentina. (B1876BIG) Tel. Fax (54 11) 4251-1354 (Rot.) |
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Size: |
4.000 m2 |
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Branches: |
Av. Ortiz de Ocampo 3302 Modulo III PB 5 -
Ciudad Autónoma de Buenos Aires - CP (C1425DSU) |
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Lamadrid 802 - Quilmes - Pcia. de Bs.As.
Argentina |
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Listed at the stock exchange: |
NO |
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Capital: |
$ 15.000 |
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Shareholders: |
This is a
private company. Major holders are: |
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Management: |
NicoláS Alfredo
Santander, Director & Partner |
This is a private company which does not make its financial public.
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USD 2014 |
|
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Revenue |
24 362 000 |
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Net Income |
434 000 |
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Total Equity |
41 902 000 |
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Exports Annual FOB USD |
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2015 |
290.479 |
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2014 |
1.524.116 |
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2013 |
1.762.795 |
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2012 |
2.797.366 |
PROVISION No. 4 - DGCYC / 10
Buenos Aires, January 05, 2010.
HAVING SEEN: T. S. No. 27/01/09, regarding the contractual breach by the firm Klonal SRL under contract covered by Purchase Order No. 37,375 / 2008, by which inputs are acquired destination Pharmacy Service Acute General Hospital Dr. Teodoro Alvarez,
THE DIRECTOR GENERAL SHOPPING AND ONTRATACIONES
In his capacity as GOVERNING BODY decides:
Article 1. Apply a warning under the paragraph a) of article 135 of Law No.
2,095 signature Klonal SRL CUIT No. 30-57456436-7 accordance so ruled by the
General Administration of the Autonomous City of Buenos Aires, by virtue of
having complied with deliveries set forth in the Purchase Order No. 37,375 /
2008 and cause injury to the normal functioning of the Pharmacy Service General
Hospital for Acute Dr . Teodoro Alvarez.
The company is engaged in the manufacture and marketing of pharmaceuticals
It has a large sized structure with several open Credit lines with different national financial institutions.
The company’s debt is médium-high; however, it shows regular payment bahaviour.
There is one negative lega record found for the subject.
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DEBTS |
Controlled-High |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
This Corporation is in Good Standing |
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NAME |
Paola |
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POSITION |
Administrative |
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COMMENTS |
She confirmed address, managers, staff and
activity. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.40 |
|
|
1 |
Rs. 101.19 |
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Euro |
1 |
Rs. 73.89 |
INFORMATION DETAILS
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Analysis Done by
: |
RSM |
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|
|
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Report Prepared
by : |
DPT |
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 |
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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 |
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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.