MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
M AND G PHARMACEUTICALS LTD |
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Registered Office : |
D446/1 Bannerman Road,
Jamestown Accra |
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Country : |
Ghana |
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Date of Incorporation : |
16.04.1991 |
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Com. Reg. No.: |
618086 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers &
Distributors of Pharmaceutical & Medicinal 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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Maximum Credit Limit : |
USD 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: M AND G PHARMACEUTICALS LTD
Requested Name: M AND G PHARMACEUTICALS LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: D446/1 Bannerman Road, Jamestown Accra
Postal Address: P.o Box 1681 Accra
Country: Ghana
Phone: 233-21-666613/660678/ 669085/ 666868/ 238
Fax: 233-21-669085
Email: mgpharm@4u.com.gh
Website: None
CREDIT OPINION
Financial Index as of
December 2007 shows subject firm with a medium risk of credit. We recommend
Credit of USD 120,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 16-April-91
Reg. Number: 618086
Nominal Capital Cedi.50,000,000
Subscribed Capital Cedi.50,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr.
Gopal Vasu MD/ CEO
Mr.
Navneet Varia Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as
manufacturers & Distributors of Pharmaceutical & Medicinal Products
Imports: Italy,
China, India and South Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Medical
firms, Hospitals, clinics etc
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Owned
premises, 20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Cedi (GHC)
Approx. Ex. Rate: 1 US Dollar = 10,016 Ghanaian Cedi
Fiscal Year End: December 31, 2006
Inflation: According
to information given by independent sources, the inflation at January
31st, 2005 was of 14%.
Financial Information Not
Submitted
Profit and Loss (expressed
in Cedi.)
2007
Sales 45,000,000,000
BANK
Bank Name: BARCLAYS BANK
Branch: Accra
Ghana
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained
from outside sources other than the subject company itself and confirmed the
above subject.
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%)