MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KINAPHARMA LTD |
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Registered Office : |
Mausoleum Close, North Industrial Area |
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Country : |
Ghana |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
20.10.2001 |
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Com. Reg. No.: |
75946 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturer, Supplies,
Wholesaler and Retailer of Pharmaceuticals |
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 100,000 |
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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: KINAPHARMA LTD
Requested Name: KINAPHARMA
LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Mausoleum
Close, North Industrial Area
Postal Address: P.o Box TR 241, Trade
Fair,
Accra
Country: Ghana
Phone: 233-21-220390
Fax: 233-21-239752
Email: Louis.Nortey@kinapharma.com
Website: www.kinapharma.com
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 20-Oct-01
Reg. Number: 75946
Nominal Capital GHC. 100,000,000
Subscribed Capital GHC. 100,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Kofi Nsiah Poku MD/ CEO 40
Mr.
Kwaku Oteng Nsiah Director 30
Mr.
Louis Nortey Director 30
RELATED COMPANIES
None Parent company.
KWALITY TYRE RETREADS
KINATEL. Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate wholesaling and retailing of
Pharmaceuticals Mfr & Supplies
Pharmacies
Medicinal and Botanical Manufacture of over-the-counter medications, and
prescription only drugs Manufacture of over-the-counter medications, and
prescription only drugs
Imports: Europe,
China, India and South Africa
Exports: Neighbouirng
West African countries(10%)
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Medical
firms, Hospitals and NGO’s
Employees: 460
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Owned
premises, 5.000 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 =11,200 Ghanaian Cedi
Fiscal Year End: December 31, 2007
Inflation: According to
information given by independent sources, the inflation at December 31st,
2007 was of 13%.
Financial Information Not Submitted
Profit and Loss (expressed in GHC.)
2007
Sales 45,000,000,000
Net Profit (Loss) 2,500,000,000
BANK
Bank Name: Prudential Bank
Branch: Accra
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.96 |
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UK Pound |
1 |
Rs.80.26 |
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Euro |
1 |
Rs.63.08 |
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%)