MIRA
INFORM REPORT
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Report Date : |
26th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
BRACK MEDICAL INSTRUMENTS |
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Registered Office : |
Ben Ashur street, Tripoli |
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Country : |
Libya |
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Date of Incorporation : |
1998 |
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Legal Form : |
Private Joint Stock Co |
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Line of Business : |
Wholesalers of medical, dental, and hospital equipment and
supplies ‑ 100% |
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 : |
Fair |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
NAME
BRACK MEDICAL INSTRUMENTS
Registration Briefing
Registration Number: N/A
Registration Date: 1998
Legal Form: PRIVATE JOINT STOCK
CO
Latest Financials: N/A
Financial Briefing
Nominal Capital: N/A
Issued Capital: N/A
Turnover: N/A
Net Profit: N/A
Net Worth: N/A
Rating Briefing
Current Rating: Ba
Current Recommended
Credit: N/A
Former Recommended
Credit: N/A
Rating Trend: RATING TRENDS CANNOT
BE CONFIRMED
Payment Record: NO COMPLAINTS
Company Details
Company Name: BRACK
MEDICAL INSTRUMENTS
Headquarter Address: Ben Ashur
street,
Tripoli,
Libya
Postal Address: P.O.Box
81114,
Tripoli
Telephone: +218
213601649
+218
213608891
Fax: +218
213601649
E‑Mail: brackmedco@yahoo.co.uk, info@brackmed.com,brack@ltt.net.net
Web Site: www.brackmed.com
Company was
originally started on 1998
Registration & Legal Details
Current Legal Form: PRIVATE JOINT
STOCK CO
Registration Address: Ben Ashur
street,
Tripoli
Registration Date: 1998
Year/Date Company
Established: 1998
Registration Town: Tripoli
Date of Last Annual
Return: 31/12/2005
Capital
Capital is NOT
disclosed.
Shareholders
Shareholders:
Name/Address Shares Held % of Voting/Non‑Voting capital
Mr. Belgasim Algibli
(Principal
Shareholder),
Libya
Mr. Abd Allah El
Majrahy, Holds balance of
shares
Libya
Mr. Jaber Abou
Diah, Holds balance of
shares
Libya
Principals
Name: Mr
Belgasim Algibli
Position within the
company: Chairman
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Education: Graduate
University
Name: Mr
Abd Allah El Majrahy
Position within the
company: General
manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Education: Graduate
University
Name: Mr
Jaber Abou Diah
Position within the
company: Maintenance
Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Education: Graduate
University
Name: Mr
Noor El‑Din Sweyi
Position within the
company: Finance
Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Education: Graduate
University
Name: Ms
Honaida El‑Khayer
Position within the
company: Purchasing
Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Education: Graduate
University
Company Activities
Sic Codes: 5047 Wholesaler of medical, dental, and hospital equipment and
supplies ‑ 100%
Brack Medical Co. is
one of the companies in Libya specializing in the importation, promotion and
sale of medical equipment and products.
The company deals in
importing consumables, chemicals, and diagnostic kits for private Clinics and
laboratories, it grew and changed over the last decade in line with the many,
and sometimes rapid, changes in the diagnostic field, it became involved in.
Their main office is
in Tripoli and they have two show rooms one in Tripoli and the other in
Benghazi
situated in a prime
area, where they exhibit all of equipment and products. They also have a
separate store to cater for their stock in Libya.
Local Reporters
consider the investigated company to be MEDIUM in their field of concern.
Operations
Employees Company Employs: 10
HQ Premises Operates from: Owned Office
Location: Central
Business Area, Main Road
Branches
Brack Medical
Instruments,
El Gazaer street, The
second highway,
Benghazi,
Libya
Branch is: Owned
Description of
branch: Office, Warehouse
These premises
operate as: a branch. Tel: 218‑612232330, Fax: 218‑612229889
Brack Tripoli,
Tripoli,
Libya
Branch is: Owned
Description of
branch: Showroom
These premises
operate as: a showroom. Tel: 218‑213608891, Fax:
218‑213601649
Brack Benghazi,
Benghazi,
Libya
Branch is: Owned
Description of
branch: Showroom
These premises
operate as: a showroom. Tel: 218‑213608891,
Fax:
218‑213601649
Imports
Import % and type of
product: 100% Finished
Goods
Imports From: England,
Egypt, Spain, U S A, Italy, Norway, Germany, Tunisia
Importing Terms: Letters
of credit
Additional
Information: Cash.
Importer of medical
equipment and other products related to the field.
Agencies: Bio‑tek England Medical equipment
TECO Germany Medical equipment
MEDICA England Medical equipment
Exports
Export % and type of
product: Subject does
not export
Trading & Selling
Territory: 100%
Nationally
Type of Customer: General
Public, Group Companies, Wholesalers, Traders, Retailers
Related Companies
Information on
Related Companies is not available/applicable
Bankers
Commerce and
Development Bank,
Branch: Tripoli
Tripoli,
Libya
Relationship with
Bank: is
reported to be normal
Additional Information: Unofficial
sources within banks have stated reported nothing detrimental about this
company. Their accounts are in order.
Financial Information
Financial Information
is not available
Payments
Subject's payments
reported to be: NO COMPLAINTS
No record has been found of protested bills against the subject.
Interview & Reporter Comments
Name/Title: Mr.
Belgasim Algibli Chairman
Comment: Subject has
confirmed the general details provided in the report but has declined to
provide any Financial Data.
Expansion Plans: The
company has the target to improve the medical level in the health section in
Libya as they provide High quality medical equipments and its working reagents
for the whole Libyan market throw their branches in Tripoli and Benghazi.
Reporter Comment
Date: 25/05/2006
Reporter Comment: In
the interview conducted with Mr. Belgasim Algibli, chairman, he declined bank
account number, capital and any financial information citing the grounds of
company confidentiality.
Conclusions
Accounts Comments: Full
Financial Statements were unavailable to local analysts so a complete and
accurate picture of the financial strength of the company could not be
ascertained. Our assessment and ratings are therefore based on non‑financial
data.
Local Reputation: The
company being investigated is considered by local reporters to be a Fair /
Normal Trade Risk.
General Conclusion: Local
informants consider granting of credit to be a fair trade
risk.
Owner/Shareholders Comments: All
or most of the owners / shareholders have an active participation in the
running of the business.
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 |