MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PHILLIPS PHARMACEUTICALS ( |
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Registered Office : |
Plot |
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Country : |
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Date of Incorporation : |
June 2005 |
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Com. Reg. No.: |
57207 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and distributors of pharmaceuticals. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
KWACHA 300,000,000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
PHILLIPS PHARMACEUTICALS
(
ADDRESS
Street : Plot
Area : Light Industrial Area
P.O. Box :
35722
Town : Njolwe
Country :
Telephone :
(260 1) 286 037 / (260) 9770 3603 (mobile)
Fax : (260 1) 286 565
E-Mail : phillipszambia@iconnect.zm
SENIOR COMPANY PERSONNEL
Name Position
1. M.S Mehta Director
2. S.R Metha Director
3. M.A Seedat Director
4. S.A Seedat Director
Total Employees
4
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
Zambian importers.
Opinion on maximum credit
: KWACHA 300,000,000
Trade risk assessment :
PRINCIPAL BANKERS
NAME :
STANBIC BANK ZAMBIA LIMITED
Branch :
Main Branch
PO Box :
31935
Town :
Telephone : (1) 229 285
Fax :
(1) 221 152
Acc No. :
0240050737801
FINANCIAL INFORMATION
Private companies in
Sales Turnover : KWACHA 18,000,000,000 - 2006 - exact
Net Profit :
not given but stated to be profitable
LEGAL STATUS AND
HISTORY
Date Started : June 2005
History : The company was
established in December 2005 and stated activities in April 2005.
C.R. No. : 57207
Capital : KWACHA
5,000,000
Private Limited Liability
Company with the following shareholders :
1. M.S Mehta
2. S.R Metha
3. M.A Seedat
4. S.A Seedat
Parent Company
Phillips Pharmaceuticals
Ltd
Power Technics Complex
Tel: (254 20) 824324 /
824323 / 823660
Fax: (254 20) 824366 /
824322
E-Mail:
ppl@phillipspharm.com
Affiliated companies of Phillips Pharmaceuticals (
Associates
1. Phillips Pharmaceuticals
(
Tel: (250) 501627
Fax: (250) 501627
E-Mail:
nalin-raj@rediffmail.com
2. Pharma Speciality Ltd
3. Vercex Pharmaceutical
Ltd
4. Power Technics Ltd
5. Redbone-Clark Kenya
Ltd
P.O. Box : 46662
Tel: (20) 824324
(distributors for Gillette)
6. Phillips Distribution
Dar Es
Salam
Subject also has other
associated companies in
ACTIVITIES
The Company is involved
in the following activities :
Importers and
distributors of pharmaceuticals.
Imports from
FACILITIES
The Company has the
following facilities :
Office
premises and storage facilities located at the heading address.
Subject previously used
PO Box : 36017
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)