MIRA INFORM REPORT
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Report Date : |
01.12.2011 |
IDENTIFICATION DETAILS
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Name : |
PHILIPS PHARMACEUTICALS ZAMBIA LIMITED |
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Registered Office : |
Plot No. 7236 Njolwe Road, Light
Industrial Area Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
12.04.1995 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in
pharmaceutical products and related facilities |
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No. of Employees
: |
50 Persons |
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 50,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Zambia |
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: PHILIPS PHARMACEUTICALS ZAMBIA LIMITED
Requested Name: PHILIPS
PHARMACEUTICALS ZAMBIA LIMITED
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot No. 7236 Njolwe Road, Light
Industrial Area Lusaka
Postal Address: P.o. Box 36017,
Lusaka,
Country: Zambia
Phone: 260-211-286037
Fax: 260-211-286565
Email: phillipszambia@iconnect.zm
Website: None
CREDIT OPINION
Financial Index as of
December 2010 shows subject firm with a medium risk of credit. We recommend
Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 12/04/1995
Reg. Number: Lusaka, Zambia
Nominal Capital ZMK. 5,000,000
Subscribed Capital ZMK. 5,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Balasundaram Krishanamurthy GM
Mr. Krishna Kumar 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 dealers in pharmaceutical products and related
facilities
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Medical
firms and hospitals
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Zambia
Location: Rented
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Zambia Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 5082.15 Zambia Kwacha
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
not Submitted
Profit and Loss (expressed in ZMK.)
2010
Sales 43,450,000,000
BANK
Bank Name: Stanbic Bank Zambia Ltd
Branch: Lusaka, Zambia
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.17 |
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UK Pound |
1 |
Rs.81.29 |
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Euro |
1 |
Rs.69.47 |
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.