MIRA INFORM REPORT

Report No. :	494846
Report Date :	05.03.2018

IDENTIFICATION DETAILS

Name :	QUIMICA FARMACEUTICA COMERCIAL SOCIEDAD ANONIMA
Registered Office :	Mixco, 17 Avenida 2-37 Zona 4, Ofibodega Zaragoza, Bodega 9
Country :	Guatemala
Financials (as on) :	2016
Date of Incorporation :	1999
Legal Form :	Anonymous Society
Line of Business :	· Retail sale of pharmaceutical and medicinal products, cosmetics and toiletry items · Other chemical and allied products merchant wholesalers
No. of Employees :	17

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Guatemala	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

GUATEMALA - ECONOMIC OVERVIEW

Guatemala is the most populous country in Central America with a GDP per capita roughly half the average for Latin America and the Caribbean. The agricultural sector accounts for 13.5% of GDP and 31% of the labor force; key agricultural exports include sugar, coffee, bananas, and vegetables. Guatemala is the top remittance recipient in Central America as a result of Guatemala's large expatriate community in the US. These inflows are a primary source of foreign income, equivalent to over one-half of the country's exports and one-tenth of its GDP.

The 1996 peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment, and Guatemala has since pursued important reforms and macroeconomic stabilization. The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) entered into force in July 2006, spurring increased investment and diversification of exports, with the largest increases in ethanol and non-traditional agricultural exports. While CAFTA-DR has helped improve the investment climate, concerns over security, the lack of skilled workers, and poor infrastructure continue to hamper foreign direct investment.

The distribution of income remains highly unequal with the richest 20% of the population accounting for more than 51% of Guatemala's overall consumption. More than half of the population is below the national poverty line, and 23% of the population lives in extreme poverty. Poverty among indigenous groups, which make up more than 40% of the population, averages 79%, with 40% of the indigenous population living in extreme poverty. Nearly one-half of Guatemala's children under age five are chronically malnourished, one of the highest malnutrition rates in the world.

Guatemala is facing growing fiscal pressures, exacerbated by multiple corruption scandals that led to the resignation of the president, vice president, and numerous high-level economic officials in 2015.

Source : CIA

STATUTORY INFORMATION
Legal Name:	QUIMICA FARMACEUTICA COMERCIAL SOCIEDAD ANONIMA
Trade Name:	QUIFACO
NIT:	39621286
Date Created:	1999
Date Incorporated:	December 9^th, 2004
Legal Address:	Mixco, 17 Avenida 2-37 Zona 4 Ofibodega Zaragoza Bodega 9 Guatemala
Operative Address:	Mixco, 17 Avenida 2-37 Zona 4 Ofibodega Zaragoza Bodega 9 Guatemala
Telephone:	+502 24320108
Fax:	+502 24312458
Legal Form:	Anonymous Society
Email:	ventas@quifaco.com info@quifaco.com
Registered in:	GUATEMALA
Website:	www.quifaco.com
Contact:	MEJIA,CORDON,,INGRID,MICHELLE (Legal Representative) MEJIA,HERNANDEZ,,WALTER,LEONEL (Legal Representative)
Staff:	17
Activity:	Retail Sale Of Pharmaceutical And Medicinal Products, Cosmetics And Toiletry Items NAICS 1: Other Chemical and Allied Products Merchant Wholesalers SIC 1: Chemicals And Allied Products, Nec
BANKS
The company does not make its banking data public
HISTORY
The company was founded in 1999
PRINCIPAL ACTIVITY
Quimica Farmaceutica Comercial, Sa is a small organization in the other chemical manufacturers industry located in Mixco, Guatemala.
Products/Services description:	PRODUCTS: Acfol Profer Oraltrim-forte Nistina Met Neuro Gruppe Lumbrox C Lumbrox Hepatrat Folivit Complex Diclotrat Clabet Tusidec
Brands:	NA
Sales are:	Wholesale
Clients:	National companies and pharmacies
Suppliers:	Nectar Lifesciences Limited India
Operations area:	National
The company imports from	India
The subject employs	17 employees
Payments:	No complaints
LOCATION
Headquarters :	Mixco, 17 Avenida 2-37 Zona 4 Ofibodega Zaragoza Bodega 9 Guatemala
Comments:	NA
Branches:	The company does not have branches
Main Competitors	Nafe Internacional S.A. 15 Avenida 35-75 Quimicas Del Istmo, Sa Calzada Concepcion, Ofibodegas Distribuidora Comercial La Fe Sa Calle 16 13-40 Zona 1 Ultra Quimicos 38 Calle 6-27 Interagro Agroquimicos Internacionales Sa Km 19.5 Carretera A Amatitlan Parque Empresarial
Related Companies:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. The company does not disclose information on shareholders. The following information has been obtained through private sources and could not be confirmed: We could not confirm major holders.
Management:	MEJIA,CORDON,,INGRID,MICHELLE (Legal Representative) MEJIA,HERNANDEZ,,WALTER,LEONEL (Legal Representative)
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	1,000,000
Cash flow	Normal
LEGAL FILINGS
Lawsuits:	No found
OFAC Sanctions List Search:	The company is not listed in the OFAC list.
SUMMARY
Founded in 1999, Quimica Farmaceutica Comercial, SA is a small organization in the other chemical manufacturers industry located in Mixco, Guatemala. It has approximately 17 full-time employees and generates USD$1 million in annual revenue. The company imports from India, operating within national markets. This has been an ACTIVE company incorporated in GUATEMALA in 2004.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No complaints
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	NA
POSITION	Operator
COMMENTS	She confirmed legal name, trade name, website and telephone, but refused to provide further information through the phone such as the number of employees or shareholders. However, she provided this email for inquiries: info@quifaco.com She did not tell us her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
GTQ	1	INR 8.85

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

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