MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
AGA
KHAN HEALTH SERVICES LTD |
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Registered Office : |
P. O Box 41523 - 00200 City Square Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
21.3.1986 |
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Com. Reg. No.: |
31530 Nairobi, Kenya |
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Legal Form : |
Limited Liability company, Limited by Shares |
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Line of Business : |
Provides primary and curative health care and also technical and administrative
services to the Aga Khan hospitals in Nairobi, Kisumu, Mombasa. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY REPORTED
AGA KHAN
UNIVERSITY HOSPITAL
Actual Name AGA
KHAN HEALTH SERVICES LTD
Principal Address
P.o Box 41523 - 00200 City Square Nairobi
Telephone: +254-20-3740000/3750290/
3750185
Fax: +254-20-3746309
Email: akhs@akdn.org
Internet: www.akdn.org
Established
21/3/1986
Registration
No. 31530 Nairobi, Kenya
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
500
Office & Factories
Head offices 3rd Avenue Parklands, Nairobi, Kenya
Branches None
Company Profile
Paid in Capital KSHS. 1,000,000
Subscribed Capital KSHS. 1,000,000
Shareholders
Name Position Amount Ratio
Mr. Nizar Juma Chairman
Mr. Mike Maylor CEO
Mr. Jaganta
Chaudhry F
Director
Aga Khan Health
Services, Geneva Holding Co. 90,000 90.00%
Services and
Systems Ltd, Kenya Shareholder 10,000 10.00%
Total 100,000 100.00%
Credit Opinion
Our proposed
credit amount of USD 400,000 is recommendable
Affiliated Companies
Company (1) AGA KHAN
DEVELOPMENT NETWORK (AKDN)
Company (2) AGA KHAN EDUCATION
SERVICES (AKES)
Company (3) AGA KHAN
FOUNDATION (AKF)
Company (4) AGA KHAN
UNIVERSITY (AKU)
Company (5) AGA KHAN AGENCY
FOR MICROFINANCE (AKAM)
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Nizar Juma |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Mike Maylor |
Þ 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
Provides primary and
curative health care and also technical and administrative services to the Aga
Khan hospitals in Nairobi, Kisumu, Mombasa.
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Affiliated companies
Customers
Public in General
Recent Sales
KSHS. 2,800,000,000
(2008)
Exports
None
Export Ratio
0.0%
Import Ratio
50.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks Diamond Trust Bank
Barclays Bank
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
Satisfactory.
COMMENTS
Maximum credit we recommend is USD 400,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.63 |
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UK Pound |
1 |
Rs.83.76 |
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Euro |
1 |
Rs.66.49 |
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%)