MIRA
INFORM REPORT
|
Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SKY PHARMACEUTICALS (PVT) LTD |
|
|
|
|
Registered Office : |
Causeway, Corner Nottingham and Darwin Roads, Workington, P. O. Box CY 3065, Harare |
|
|
|
|
Country : |
Zimbabwe |
|
|
|
|
Date of Incorporation : |
February 2001 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Importers, wholesalers and distributors of pharmaceutical
products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
ZIM DLRS 15,000,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
COmpany NAME
SKY PHARMACEUTICALS (PVT)
LTD
ADDRESS
Street : Causeway, Corner Nottingham and Darwin Roads
Area : Workington
P.O. Box : CY 3065
Town : Harare
Country : Zimbabwe
Telephone :
(263 4) 620 871
Fax : (263 4) 620 875
E-Mail : k.ralston@aventis.co.zw /
sales@sky-pharma.com
SENIOR COMPANY
PERSONNEL
Name Position
1. K. Ralston Managing
Director
2. Robert Stuart Financial
Director
Total Employees
21
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Zimbabwe importers
Opinion on maximum credit
: ZIM DLRS 15,000,000
Trade risk assessment : Normal
Opinion on the credit figure
of US DLRS 1,500,000 :
We consider the above
figure to be beyond the Company's financial capabilities and recommend dealing
on fully secured terms.
PRINCIPAL BANKERS
NAME :
BARCLAYS BANK OF ZIMBABWE LIMITED
Branch :
First Street Branch
PO Box :
790
Town :
Harare
Telephone : (263 4) 758 324
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : ZIM DLRS 1,301,363,349 - 2006 - exact
: ZIM DLRS
1,500,000,000 - 2007 - projected
Net Profit :
ZIM DLRS 129,436,210 - 2006 - exact
Financial year ends 31
December.
LEGAL STATUS AND
HISTORY
Date Started : February 2001
History : The company was incorporated in Zimbabwe
in February 2001.
Capital : not given
Limited Liability Company
with the following shareholders :
Percentage
1. K. Ralston 45%
2. Adventures (Pvt)
Ltd )
Bahamas registered )
Offshore company )
) 55%
3. Robert Stuart )
)
4. Several subject's
directors )
ACTIVITIES
The Company is involved
in the following activities :
Importers, wholesalers
and distributors of pharmaceutical products.
Imports from France,
Germany, India and South Africa.
FACILITIES
The Company has the
following facilities :
Owned premises comprising
administrative offices, wholesale outlet and storage facilities located at the
heading address.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)