MIRA
INFORM REPORT
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Report Date : |
7th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
BIKS PHARMA LTEE |
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Registered Office : |
20, Reserves Street La Salines Port Louis |
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Country : |
Mauritius |
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Date of Incorporation : |
23.11.04 |
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Legal Form : |
Private |
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Line of Business : |
Dealers in bulk pharmaceutical products,
equipment, re-agents and consumables for dyalisis among other products, both
medical and pharmaceutical |
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 : |
Usually
Correct |
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Litigation : |
Clear |
NAME OF COMPANY
BIKS PHARMA LTEE
ADDRESS
20, RESERVES STREET
LA SALINES
PORT LOUIS
TEL: (230) 208-2892
EMAIL: bikspharma@intnet.mu
INCORPORATED
23.11.04
STATUS
Private
CO NO
53515
DIRECTORS
Mr. Mahendra Kumar Bheekee
SHAREHOLDERS SHARES
Mr. Mahendra Kumar Bheekee 250
ISSUED CAPITAL
RS 25,000
SIZE
The company’s registered office and business premises are located at 20, Reserves Street, Les Salines, Port Louis.
ACTIVITIES
Dealers in bulk pharmaceutical products, equipment, re-agents and consumables for dyalisis among other products, both medical and pharmaceutical.
OBSERVATION
Biks Pharma Ltd is the concern of M.K Bheekee, a well-known and prominent figure on the market for pharmaceutical products since he has been associated for over forty years with “Pharmacie Nouvelle Ltd”, a leading importer, member of the Leal Group of companies. Bheekee resigned as Director of sales and marketing with Pharmacie Nouvelle in 2003. The following year, he set up his own enterprise commonly trading under the style “Biks Pharma Ltd”.
BUSINES CONTRACT
Biks Pharma now acts as a contractor and supplier to the local Ministry of Health.
SOURCE OF SUPPLY
(i) MEDEX Export Ltd – UK
(ii) Beckman Coulter – Durban (South Africa)
(iii) Kawasumi – Japan
(iv) Kalpdrum Enterprise – India
REMARK
A private company by the name of Mascareignes Pharmaceutical manufacturing of which Mahendra Beekee is the Chairman, has recently purchase the assets of the Mauritius Pharmaceutical Manufacturing Co Ltd.
FINANCE
Year 2005
Sales: RS 20,000,000
CREDITWORTHINESS
Buyer is reliable and trustworthy for normal business engagement.
BANKERS
THE MAURITIUS COMMERCIAL BANK LTD – Port Louis
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |