MIRA
INFORM REPORT
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Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
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Name : |
HIBA DRUG CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import and distribution of human and veterinary medicines and drugs. |
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 : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : HIBA DRUG CO
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 1994
Issued Capital : SD 1,000,000
Paid up Capital : SD 1,000,000
Total Workforce : 10
Line of Business : Distributors of human and veterinary medicines and drugs.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HIBA DRUG CO
ADDRESS
Registered & Physical Address
Location : Khartoum Extension No. 2
PO Box : 3275
Town :
Country : Sudan
Telephone : (249-183) 486435
Facsimile : (249-183) 465193
Mobile : (249-912) 602898
Email : luqman2000sd@yahoo.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Khartoum.
KEY PRINCIPALS
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Dr
Kamal Mohamed Ahmed Ibrahim Managing Director
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Dr
Mohamed Hamza Director
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Dr
Mohamed Mahmoud Pharmacist
LEGAL FORM &
OWNERS
Date of Establishment : 1994
Legal Form :
Limited Liability Company
Issued Capital : SD 1,000,000
Paid up Capital : SD 1,000,000
Name of Shareholder
(s)
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Dr
Kamal Mohamed Ahmed Ibrahim
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Dr
Mohamed Hamza
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
human and veterinary medicines and drugs.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a workforce
of 10 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Sudanese
Dinars (SD)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue SD 108,000,000 SD 115,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Al
Baraka Bank
PO Box : 3583
Khartoum
Tel : (249-183) 783962 /
780688
Fax : (249-183) 778948
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1994, subject is involved in the import and distribution of human and
veterinary medicines and drugs.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 150,000
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%)