MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
MEDIVET PRODUCTS LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
19.04.1990 |
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Com. Reg. No.: |
No. 42775 |
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Legal Form : |
Limited
Liability company, Limited by shares |
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Line of Business : |
Manufacturer and distributor of pharmaceuticals products. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
MEDIVET PRODUCTS LTD
Address
Telephone: +254-67-31481/54119/54405
Fax: +254-67-54127
Email: info@medivetpl.com
Internet: None
Established
19/4/90
Registration
No. 42775
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
120
Office &
Factories
Head offices Plot no. 253, Ruiru Industrial Area,
Branches Industrial Area (
Company Profile
Paid in Capital KSHS. 20,000,000
Subscribed Capital KSHS. 20,000,000
Shareholders
Name Position No. of shares Ratio
Mr. Manish A
Dodhia Director 250,000 25.00%
Mr. Nishid A
Dodhia Director 250,000 25.00%
Mrs. Jyoti M Shah Director 250,000 25.00%
Mr. Ramniklal N
Shah Director 250,000 25.00%
Total 1,000,000 100.00%
Credit Opinion
Our proposed credit amount of USD 75,000 is recommendable
Affiliated
Companies
Company (1) SHAH TRAVEL AGENCIES
Company (2) FURAHA PHARMACY
Company (3) LA-BELLE PHARMACY LIMITED
Management/
Directors
President/ CEO (1)
Name Mr. Manish A
Dodhia
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Nishid A
Dodhia
Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Manufacturer and
distributor of pharmaceuticals products.
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
The company mainly
imports mainly from Europe and the
Customers
Local agencies
,Department stores, it also owns its own chain of stores and outlets
Recent Sales
KSHS.
270,000,000 (2006)
Exports
Export Ratio
< 15.0%
Import Ratio
20.0%
Domestic Market
Share
20.0%
Banking
relationship
Main Banks CREDIT BANK LTD,
Credit Check of
Subject, President & CEO
(as of report date)
Payment Morale: In the documents at our disposal
nothing adverse has been shown so far.
CREDIT RATING: Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 75,000 outstanding at any one time.
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. |
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%)