MIRA INFORM
REPORT
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Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
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Name : |
TOBINCO PHARMACEUTICALS LTD |
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Registered Office : |
Kotobabi Down,
Prempeh Street |
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Country : |
Ghana |
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Date of Incorporation : |
28.02.1998 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
wholesaling and retailing
of pharmaceutical and Medicinal Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Ghana |
b2 |
b2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUBJECT'S NAME
Registered Name: Tobinco
Pharmaceuticals Ltd
Requested Name: Tobinco
Pharmaceuticals Ltd./Tobinco Pharmacy Ltd
Former Names Tobinco Pharmacy
Tobinco Company
Limited
ADDRESS AND TELECOMMUNICATION
Physical Address: Kotobabi
Down, Prempeh Street, Accra
Postal Address: P.O. Box GP 13808 Accra
Accra North
Country: Ghana
Phone: +233-21-234375/250948
Fax: +233-21-234375
Email: info@tobincopharma.com
Website: www.tobincopharma.com
CREDIT OPINION
Financial Index as of
December 2009 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: 28/02/1998
Reg. Number: Accra North, Ghana
Nominal Capital GHC. 100,000
Subscribed Capital GHC. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr Samuel Amo
Torbin MD
Mr Seth
Fianko-Larbi Marketing Manager
Mr. Naa Amofa HR Manager
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Accra, Kumasi,
Takoradi and Tamale Branches of the firm
OPERATIONS
Registered to operate wholesaling and retailing of pharmaceutical and
Medicinal Products
Imports: Asia
TPL are BlissGVS, Ally pharma, Blue Map and others from India.
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main Customers: firms
and organizations
Employees: 100
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ghana
Location: Owned
premises, 10.000 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 = 1.51 Ghanaian Cedi
Fiscal Year End: December
31, 2010
Inflation: According
to information given by independent sources, the
inflation
at December 31st, 2010 was of 13%.
Financial
Information Submitted
GHC.
Profit and Loss (expressed in GHC.)
2010
Sales 4,450,000
Net Profit (Loss) 560,000
BANK
Bank Name: Ghana Commercial Bank Limited
Branch: Accra Ghana
Comments: Overdraft None, Promissory notes- 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. On 23rd January, 2003, the company underwent a
name change to Tobinco Pharmacy Limited from Tobinco Company ltd , and later in April, 2006, it again changed to
Tobinco Pharmaceuticals Limited.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.17 |
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UK Pound |
1 |
Rs.73.72 |
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Euro |
1 |
Rs.64.26 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.