MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNIQUE PHARMACEUTICALS (NIGERIA) LIMITED |
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Registered Office : |
21/22, Marina, Lagos |
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Country : |
Nigeria |
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Date of Incorporation : |
28th August 1985 |
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Com. Reg. No.: |
RC: 75681 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of Intravenous Fluids and Intravenous Antibiotic
Preparation Haemaron |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
IDENTIFICATION
COMPANY NAME: UNIQUE PHARMACEUTICALS LIMITED
REGISTERED
NAME: UNIQUE PHARMACEUTICALS (NIGERIA)
LIMITED
REGISTERED
ADDRESS: 21/22, Marina, Lagos-Nigeria.
HEAD OFFICE
ADDRESS: 11, Fatai
Atere Way matori Mushin, Lagos.
TELEPHONE(S): 234-1-4523977,
4520290, 4520658, 7740161
FAX: 234-1-2615782,
4524028
E-MAIL: unique@cybaaspace.net, enquiry@uniquepharmaltd.com,
WEBSITE: www.uniuepharm.com
POSTAL ADDRESS: P.O.Box 71751 Victoria Island, Lagos
Subject is into Manufacturing of Intravenous Fluids and Intravenous
Antibiotic Preparation Haemaron (Iron Vitamin Capsules)
Uniflox I.V. (Ciprofloxacin Injection 200mg 100ml)
In Nigeria subject is considered to be a large scale concern in this
sector.
Currency: All monetary
values in this report are in Nigerian Naira, the local currency, except
otherwise stated. The exchange rate is N130 to 1 US $.
SUMMARY
NATURE OF PREMISES: Owned,
office space at head office occupying approximately 5,000 square
metres.
DATE INCORPORATED: 28th August 1985
YEAR BEGAN
OPERATION: 1985
LEGAL FORM: Private Limited Company
REGISTRATION NO: RC:
75681
SHARE CAPITAL: N10,
000, 000
ALLOTTED SHARE
CAPITAL: N10, 000, 000
PAID-UP CAPITAL N10, 000, 000
AUDITORS: Nil
SOLICITORS: Nil
COMPANY SECRETARY: Nil
STAFF
STRENGHT: 130
OWNERSHIP
Name
Naraindas P.
Kirpalani (India)
24, Adeola Hopewell Street,
Victoria Island, Lagos.
Lalit Chatru
Wadwani (India)
156/161, Ladipo Street,
Matori, Lagos.
Babalola D.A.
Ogboye (Nigerian)
15, Gbejumo Street,
Lagos.
Mohammed M. Shedu (Nigerian)
45/46, Fagge Takudu Kano,
Kano State.
Chatru L. Wadhwani (India)
159/161, Ladipo Street, Matori,
Lagos.
SHARE HOLDERS
(PREVIOUS)
Nil
DIRECTORS
1. Naraindas P. Kirpalani
(India)
2. Lalit Chatru Wadwani (India)
3. Babalola D.A. Ogboye
(Nigerian)
4. Mohammed M. Shedu (Nigerian)
5. Chatru L. Wadhwani (India)
MANAGEMENT PROFILE
Mr. L.C. Wadhwani Managing
Director
Mr. T.V. Ramani Operations
Director
Mr. M.C. Azuike Pharmacist
Mr. M.O. Dada Supt.
Pharmacist
RELATED COMPANY
Nil
BRANCH
Factory Address:
Veepee Industrial Avenue,
KM 38 Abeokuta Road,
Sango-Otta, Ogun State
BANKER
United Bank for Africa (UBA)
TRADE REFERENCES
PMG, MAN and PSN
PAYMENT REFERENCE
Local and Foreign Companies
PRODUCT DESCRIPTION
*Infusions *Liquid Orals *Pain Reliever *Abott Products *Ant-Diabetics
*Capsules Surgical Disposables
PERFORMANCE RANKING
* Quality of Management:
VERY GOOD
* Ethics & Integrity:
GOOD
* Ownership Structure:
GOOD
OPERATIONS
Subject is into Manufacturing of Intravenous Fluids and Intravenous
Antibiotic Preparation Haemaron (Iron Vitamin Capsules), Uniflox I.V.
(Ciprofloxacin Injection 200mg 100ml)
Subject is located in a central business area at 11, Fatai Atere Way,
Matori Mushin, Lagos.
TYPES OF CUSTOMERS
*General Public *Group of Companies
BACKGROUND
Unique Pharmaceutical Limited factory, commissioned in 1988, is located
over seven acres at ota, an industrial area in the outskirts of Lagos.
The factory uses form fill seal (FFS) technology as per international
standards ensuring the sterile environment necessary for manufacturing such I.V.
products. This is the only plant in West Africa, Manufacturing IV parenterals
using FFS Technology.
Commercial production started in 1988 with five (5) products of I.V.
range, gradually the range was expanded and UPL today manufactures and markets
14 I.V. products.
EXPANSION PLAN
To discover, develop and successfully market innovative products to cure
diseases, to ease suffering, and to enhance the quality of life. To be
recognized for having a positive impact on people’s lives with our products, meeting
needs and even surpassing external expectations. To create sustainable earning
growth, ranking in the top in the industry and securing ling-term business
success.
PRINCIPAL ANTECEDENT
Nil
PHYSICAL VISIT
Visits were made to the followings:
COMPANY PREMISES
CORPORATE AFFAIRS COMMISSION.
FINANCES
Subject audited accounts were not available as at the time of compiling
this report. Therefore, its present financial position could not be
ascertained.
DIRECT INTERVIEW
NAME: Nil
POSITION: Nil
Subject principal declined information; however, our questionnaire has
been sent through email.
INDUSTRIAL OVERVIEW/
OPERATING
ENVIRONMENT
The Pharmaceutical industry in Nigeria has grown in size and complexity
since the commencement of the present administration. The industry has become
more sophisticated technically, financially and in terms of the required skills
and expertise. With Government regulatory bodies like NAFDAC, NDLEA Etc.
The government policy in using indigenous contractors to execute her
projects has gone a long way in increasing the capital base, greater
utilization of Nigerian human and material resources in this sector.
CMT REPORT (Corruption,
Money
Laundering &
Terrorism)
Public Notice from various sources including but not limited to: The
Courts, Nigerian Prison Service, Economic & Financial Crimes Commission
(EFCC), National Drug Law Enforcement Agency (NDLEA), National Agency for Food
& Drugs administration and Control (NAFDAC), Independent Corrupt Practices
and Other Related Offences Commission (ICPC) Etc.
No negative information on subject from the above agencies as at the time of compiling this report.
COMPANY LOCATION
The company is located at 11, Fatai Atere Way, Matori Mushin, Lagos.
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our
investigations revealed that, the company, Unique Pharmaceutical Limited is duly registered in Nigeria, with a
registered address, 11, Fatai Atere Way, Matori Mushin, Lagos. While the
operational office address is at 21/22, Marina, Lagos-Nigeria.
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%)