MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TANZANIA PHARMACEUTICAL INDUSTRIES LTD |
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Registered Office : |
Themi Industrial Area,
P. O. Box 7063 / 3850, Arusha |
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Country : |
Tanzania |
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Date of Incorporation : |
1980 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of pharmaceuticals products such as aspirin. |
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 : |
T Sh 160,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
TANZANIA PHARMACEUTICAL
INDUSTRIES LTD
ADDRESS
Area : Themi Industrial Area
P.O. Box :
7063 / 3850
Town : Arusha
Country : Tanzania
Telephone :
(255 22) 212 1797 - 99
Fax : (255 22) 212 1796
E-Mail : hito@pil.co.tz / hito@raha.com
Shortform Name
TPI
SENIOR COMPANY
PERSONNEL
Name Position
1. Benjamin Kato Chairman
2. R. Madabida Managing Director
3. Joseph Kweka Financial Manager
Total Employees
200
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject was acquired on January
1998 by Benjamin Kato. Subject is now in the process of being privatised.
We consider it is
acceptable to deal with subject for MEDIUM amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
importers from Tanzania.
Opinion on maximum credit
: T Sh 160,000,000
Trade risk assessment :
Normal
Opinion on the credit
figure of US DLRS 1,500,000 :
The above figure is much
higher than normally seen in one amount, however could prove admissible in a series
of several transactions provided the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME :
NATIONAL BANK OF COMMERCE
Branch :
Uhuru Road
P.O Box :
3004
Town :
Arusha
Telephone : (255 27) 254 8662
Fax :
(255 27) 254 8081
The company also has an
account with the following bank:
Stanbic Bank Tanzania Ltd
Sokoine Rd
P.O. Box 3062 Arusha
Telephone : (255 27) 250
9713
fax : (255 27) 250 8809
FINANCIAL INFORMATION
Balance sheets are not available,
and the subject interviewed declined to give any financial information, which
the company regards as strictly confidential.
LEGAL STATUS AND
HISTORY
Date Started : 1980
History : Tanzania Pharmaceutical
Industries Ltd was founded in 1980 as a government owned company.
It was privatized in 1997
and the majority of its shareholding is now owned by Mr Benjamin Kato.
Capital : not given
Limited Liability Company
with the following shareholders :
1. Benjamin Kato
2. Other members of the
Kato familly.
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers of
pharmaceuticals products such as aspirin.
Imports raw materials
from Germany, France, UK, Switzerland, Hungary.
FACILITIES
The Company has the
following facilities :
Rented six acre premises,
comprising a factory, warehouse, laboratory and offices, situated in the
industrial area of Arusha.
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%)