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MIRA INFORM REPORT
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Report No. : |
516042 |
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Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
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Name : |
DROMEX
INTERNATIONAL SA |
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Registered Office : |
Escalada Av.
1454 Piso:1 Dpto:1 1407-Ciudad Autonoma Buenos Aires |
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Country : |
Argentina |
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Financials (as on) : |
2017
(Summarized) |
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Date of Incorporation : |
01.10.2003 |
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Legal Form : |
Sociedad
Anonima |
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Line of Business : |
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No. of Employees : |
12 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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Argentina |
B2 |
B1 |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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. In 2016,
the World Bank downgraded Argentina from a high-income to upper-middle-income
economy, on par with Colombia.
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
below 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, 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
slowed in late 2011 even as the government continued to rely on expansionary
fiscal and monetary policies, which kept inflation in the double digits.
In order to deal with
these problems, the government expanded state intervention in the economy: it
nationalized the oil company YPF from Spain's Repsol, expanded measures to
restrict imports, and further tightened currency controls in an effort to
bolster foreign reserves and stem capital flight. Between 2011 and 2013,
Central Bank foreign reserves 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.
With the election of President
Mauricio MACRI in November 2015, Argentina began a historic political and
economic transformation, as his administration took steps to liberalize the
Argentine economy, lifting capital controls, floating the peso, removing export
controls on some commodities, cutting some energy subsidies, and reforming the
country’s official statistics. Argentina negotiated debt payments with holdout
bond creditors and returned to international capital markets in April 2016. In
September 2016, Argentina completed its first IMF Article IV Consultation since
2006.
After contracting by more
than 2.0% in 2016, Argentina’s economy emerged from recession in 2017 with GDP
growth of nearly 3.0%. Argentina passed important pension, tax, and fiscal
reforms in 2017. After years of international isolation, Argentina took on
several international leadership roles in 2017, including hosting the World
Economic Forum on Latin America and the World Trade Organization Ministerial
Conference, and is set to assume the presidency of the G-20 in 2018.
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Source
: CIA |
Statutory
Information
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Order |
Dromex International SA |
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Address in the order |
Escalada 1454-C1407- LEC Capital Federal
Buenos Aires Argentina |
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Legal Name |
DROMEX INTERNATIONAL SA |
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Trade Name |
DROMEX INTERNATIONAL |
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ID |
CUIT |
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ID Details |
30-70906626-5 |
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Creation Date |
2003 |
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Incorporation Date |
01-10-2003 |
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Legal Address |
ESCALADA AV. 1454 Piso:1 Dpto:1
1407-CIUDAD AUTONOMA BUENOS AIRES ARGENTINA |
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Operative Address |
ESCALADA AV. 1454 Piso:1 Dpto:1
1407-CIUDAD AUTONOMA BUENOS AIRES ARGENTINA |
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Telephone |
5411 46703450 |
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Fax |
5411 46703454 |
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Legal Form |
SOCIEDAD ANONIMA |
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E-Mail |
info@dromexint.com |
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Registered In |
ARGENTINA |
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Website |
www.dromexint.com |
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Contact |
Julio Anibal SCARDIGLI, President |
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Staff |
12 employees |
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Activity |
Main
activity: 829900 (F-883) SERVICIOS EMPRESARIALES N.C.P. Secondary Activities: 469090 (F-883) WHOLESALE
OF MERCHANDISE N.C.P. 702099 (F-883) ADVISORY SERVICES, MANAGEMENT AND
BUSINESS MANAGEMENT N.C.P. |
Banks
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Name of
Bank |
Reported
Amount |
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BBVA
BANCO FRANCES S.A. |
2574 |
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INDUSTRIAL
AND COMMERCIAL BANK OF CHINA |
277 |
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Description |
According to
the classification of banking relations of Argentina, the company operates
with level: 1. |
History
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History |
The company was founded in 2003. |
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Key Developments |
The previous name of the company was
GENLUD S.A. The company changed its name in 2009. |
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Parent Company |
NA |
Principal
Activity
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General Description |
DROMEX INTERNATIONAL SA develops its
business in the pharmaceutical market in Argentina, other Latin American
countries, Middle East, Asia and Africa. |
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Service/Product Description |
PHARMACEUTICALS: |
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Sales |
Wholesale and Retail |
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Operations Area |
National and International |
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Imports From |
No import records |
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Export To |
Paraguay |
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Employees |
12 employees |
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Payments With Suppliers |
No Complaints |
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Comments |
The company`s main clients include
national |
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Comments |
- |
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Financial
Information
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General Description |
The company does not make its financial
statements public. The following information has been provided by private
sources: |
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Year/Currency |
2017 ARS$ |
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Sales |
3,000,000 |
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Money Flow |
Normal |
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Financial Figures |
NA |
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Imports |
Foreign
trade in the last 5 years: |
Legal
Filings
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Lawsuits |
No records found |
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Trademarks |
Word Mark: |
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Patents Registered |
No records found |
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Renewals |
GENLUD SOCIEDAD ANONIMA |
Summary
Founded in 2003 in Argentina,
DROMEX INTERNATIONAL SA develops its business in the pharmaceutical market in
Argentina, other Latin American countries, Middle East, Asia and Africa.
It mainly exports to Paraguay, operating within national and international
markets.
The company has 12 full-time employees and generates an estimated ARS 3,000,000
in annual revenue.
This is an ACTIVE company incorporated in ARGENTINA in 2003.
Interview
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First Name |
DANIELA |
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Position |
Operator |
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Comments |
The person contacted confirmed legal
name, trade name, telephone and website. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.77 |
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1 |
INR 89.96 |
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Euro |
1 |
INR 78.86 |
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ARS |
1 |
INR 2.51 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.