MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PHARMA UNION PLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and wholesales of pharmaceuticals. |
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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Maximum Credit Limit : |
BIRR 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
PHARMA UNION PLC
ADDRESS
Area :
Town :
Country :
Telephone :
(251 11) 111 4813 / 111 2996 / (251 91) 121 1140 (mobile)
Fax : (251 11) 155 1569
E-Mail : aklilu_eshetu@yahoo.com,
pharmaunion@ethionet.et
SENIOR COMPANY
PERSONNEL
Name Position
1. Aklilu Eshetu Managing
Director
2. Abydar Ketema Financial
Director
Total Employees
12
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
Ethiopian importers.
Opinion on maximum credit
: BIRR 300,000
Trade risk assessment :
PRINCIPAL BANKERS
NAME :
AWASH INTERNATIONAL BANK SC
Branch :
Tekle Haimanot
PO Box :
12638
Town :
Telephone : (251 11) 661 4482-85
FINANCIAL INFORMATION
Private companies in
Sales Turnover : BIRR 13,000,000 - 2006 - exact
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BIRR 15,000,000 - 2007 - approx*
Net Profit :
not given but stated to be between 20% and 25% in 2007
Financial year ends 30
June.
* Unaudited.
LEGAL STATUS AND
HISTORY
Date Started : 1998
Capital : BIRR 6,000,000
Private Limited Liability
Company with the following shareholders :
1. Aklilu Eshetu (major shareholder)
2. Abydar Ketema
ACTIVITIES
The Company is involved
in the following activities :
Importers and wholesales
of pharmaceuticals.
Imports from
FACILITIES
The Company has the
following facilities :
Office premises and
warehouse located at the heading address.
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%)